Cover - USD ($)	12 Months Ended
Cover - USD ($)	Dec. 31, 2020	Feb. 12, 2021	Jun. 30, 2020
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Amendment Flag	false
Document Fiscal Period Focus	FY
Entity Central Index Key	0001723128
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Period End Date	Dec. 31, 2020
Document Transition Report	false
Entity File Number	001-38485
Entity Registrant Name	Amneal Pharmaceuticals, Inc.
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	400 Crossing Boulevard
Entity Address, City or Town	Bridgewater
Entity Address, State or Province	NJ
Entity Tax Identification Number	32-0546926
Entity Address, Postal Zip Code	08807
City Area Code	908
Local Phone Number	947-3120
Title of 12(b) Security	Class A Common Stock, par value $0.01 per share
Trading Symbol	AMRX
Security Exchange Name	NYSE
Entity Well-Known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 696,012,893
Documents Incorporated by Reference	Certain information required to be furnished pursuant to Part III of this Form 10-K will be set forth in, and is hereby incorporated by reference herein from, the registrant’s definitive proxy statement for its 2021 Annual Meeting of Stockholders, to be filed by the registrant with the Securities and Exchange Commission pursuant to Regulation 14A no later than 120 days after December 31, 2020 (the “2021 Proxy Statement”).
Class A Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		147,704,364
Class B Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		152,116,890

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement [Abstract]
Net revenue	$ 1,992,523	$ 1,626,373	$ 1,662,991
Cost of goods sold	1,329,551	1,147,214	938,773
Cost of goods sold impairment charges	34,579	126,162	7,815
Gross profit	628,393	352,997	716,403
Selling, general and administrative	326,727	289,598	227,846
Research and development	179,930	188,049	194,190
In-process research and development impairment charges	2,680	46,619	39,259
Acquisition, transaction-related and integration expenses	8,988	16,388	221,818
Restructuring and other charges	2,398	34,345	56,413
Charges (gains) related to legal matters, net	5,860	12,442	(19,711)
Intellectual property legal development expenses	10,655	14,238	16,261
Operating income (loss)	91,155	(248,682)	(19,673)
Other (expense) income:
Interest expense, net	(145,998)	(168,205)	(143,571)
Foreign exchange gain (loss), net	16,350	(4,962)	(19,701)
Loss on extinguishment of debt	0	0	(19,667)
Gain (loss) on sale of international businesses	123	7,258	(2,958)
Gain from reduction of tax receivable agreement liability	0	192,884	1,665
Other income, net	2,590	1,465	1,183
Total other (expense) income, net	(126,935)	28,440	(183,049)
Loss before income taxes	(35,780)	(220,242)	(202,722)
(Benefit from) provision for income taxes	(104,358)	383,331	(1,419)
Net income (loss)	68,578	(603,573)	(201,303)
Less: Net loss attributable to Amneal Pharmaceuticals LLC pre-Combination	0	0	148,806
Less: Net loss attributable to non-controlling interests	22,481	241,656	32,753
Net income (loss) attributable to Amneal Pharmaceuticals, Inc. before accretion of redeemable non-controlling interest	91,059	(361,917)	(19,744)
Accretion of redeemable non-controlling interest	0	0	(1,176)
Net income (loss) attributable to Amneal Pharmaceuticals, Inc.	$ 91,059	$ (361,917)	$ (20,920)
Net income (loss) per share attributable to Amneal Pharmaceuticals, Inc.'s common stockholders:
Class A and Class B-1 basic (in dollars per share)	$ 0.62	$ (2.74)	$ (0.16)
Class A and Class B-1 diluted (in dollars per share)	$ 0.61	$ (2.74)	$ (0.16)
Weighted-average common shares outstanding:
Class A and Class B-1 basic (in shares)	147,443	132,106	127,252
Class A and Class B-1 diluted (in shares)	148,913	132,106	127,252

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Other Comprehensive Income [Abstract]
Net income (loss)	$ 68,578	$ (603,573)	$ (201,303)
Less: Net loss attributable to Amneal Pharmaceuticals LLC pre-Combination	0	0	148,806
Less: Net loss attributable to non-controlling interests	22,481	241,656	32,753
Net income (loss) attributable to Amneal Pharmaceuticals, Inc. before accretion of redeemable non-controlling interest	91,059	(361,917)	(19,744)
Accretion of redeemable non-controlling interest	0	0	(1,176)
Net income (loss) attributable to Amneal Pharmaceuticals, Inc.	91,059	(361,917)	(20,920)
Other comprehensive (loss) income:
Foreign currency translation adjustments arising during the period	(13,500)	(1,233)	(3,952)
Less: Reclassification of foreign currency translation adjustment included in net loss	0	3,413	0
Foreign currency translation adjustments, net	(13,500)	2,180	(3,952)
Less: Other comprehensive income attributable to Amneal Pharmaceuticals LLC pre-Combination	0	0	(1,721)
Unrealized (loss) gain on cash flow hedge, net of tax	(70,276)	16,373	0
Less: Other comprehensive loss (income) attributable to non-controlling interests	42,573	(10,058)	3,256
Other comprehensive (loss) income attributable to Amneal Pharmaceuticals, Inc.	(41,203)	8,495	(2,417)
Comprehensive income (loss) attributable to Amneal Pharmaceuticals, Inc.	$ 49,856	$ (353,422)	$ (23,337)

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 341,378	$ 151,197
Restricted cash	5,743	1,625
Trade accounts receivable, net	638,895	604,390
Inventories	490,649	381,067
Prepaid expenses and other current assets	73,467	70,164
Related party receivables	1,407	1,767
Total current assets	1,551,539	1,210,210
Property, plant and equipment, net	477,754	477,997
Goodwill	522,814	419,504
Intangible assets, net	1,304,626	1,382,753
Operating lease right-of-use assets	58,739	69,872
Financing lease right-of-use assets - related party	58,676	61,284
Other assets	31,885	44,270
Total assets	4,006,033	3,665,890
Current liabilities:
Accounts payable and accrued expenses	613,661	507,483
Current portion of long-term debt, net	44,228	21,479
Related party payables - short term	7,561	5,969
Total current liabilities	676,902	550,406
Long-term debt, net	2,735,264	2,609,046
Other long-term liabilities	85,683	39,583
Total long-term liabilities	2,972,395	2,768,696
Commitments and contingencies (Notes 5 & 21)
Redeemable non-controlling interest	11,804	0
Stockholders' equity:
Preferred stock, $0.01 par value, 2,000 shares authorized; none issued at both December 31, 2020 and 2019	0	0
Additional paid-in capital	628,413	606,966
Stockholders' accumulated deficit	(286,821)	(377,880)
Accumulated other comprehensive loss	(41,318)	(68)
Total Amneal Pharmaceuticals, Inc. stockholders' equity	303,271	232,010
Non-controlling interests	41,661	114,778
Total stockholders' equity	344,932	346,788
Total liabilities and stockholders' equity	4,006,033	3,665,890
Common Class A
Stockholders' equity:
Common stock	1,475	1,470
Common Class B
Stockholders' equity:
Common stock	1,522	1,522
Excluding Related Party
Current assets:
Operating lease right-of-use assets	33,947	53,344
Current liabilities:
Current portion of operating lease liabilities	6,474	11,874
Operating lease liabilities	30,182	43,135
Related Party
Current assets:
Operating lease right-of-use assets	24,792	16,528
Financing lease right-of-use assets - related party	58,676	61,284
Current liabilities:
Current portion of operating lease liabilities	2,820	2,547
Current portion of operating and financing lease liabilities - related party	3,978	3,601
Current portion of note payable - related party	1,000	0
Note payable - related party	36,440	0
Operating lease liabilities	23,049	15,469
Financing lease liabilities - related party	60,193	61,463
Related party payable - long term	$ 1,584	$ 0

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	2,000,000	2,000,000
Preferred stock, shares issued (in shares)	0	0
Class A Common Stock
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	900,000,000	900,000,000
Common stock, shares issued (in shares)	147,674,000	147,070,000
Class B Common Stock
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	300,000,000	300,000,000
Common stock, shares issued (in shares)	152,117,000	152,117,000

Consolidated Statement of Stockholders' Equity / Members' Equity (Deficit) - USD ($) $ in Thousands	Total	Period Prior to the Combination	Period Subsequent to the Combination	Period Subsequent to the Combination Private Placement	Period Subsequent to the Combination PPU Holders Distribution	Revision of Prior Period, Adjustment	Revision of Prior Period, Adjustment Period Prior to the Combination	Common Stock Class A Common Stock	Common Stock Class A Common Stock Period Subsequent to the Combination	Common Stock Class A Common Stock Period Subsequent to the Combination Private Placement	Common Stock Class A Common Stock Period Subsequent to the Combination PPU Holders Distribution	Common Stock Class B Common Stock	Common Stock Class B Common Stock Period Subsequent to the Combination	Common Stock Class B Common Stock Period Subsequent to the Combination Private Placement	Common Stock Class B Common Stock Period Subsequent to the Combination PPU Holders Distribution	Common Stock Class B-1 Common Stock	Common Stock Class B-1 Common Stock Period Subsequent to the Combination Private Placement	Additional Paid-in Capital	Additional Paid-in Capital Period Prior to the Combination	Additional Paid-in Capital Period Subsequent to the Combination	Additional Paid-in Capital Period Subsequent to the Combination Private Placement	Additional Paid-in Capital Period Subsequent to the Combination PPU Holders Distribution	Members' and Stockholders' Accumulated Deficit	Members' and Stockholders' Accumulated Deficit Period Prior to the Combination	Members' and Stockholders' Accumulated Deficit Period Subsequent to the Combination	Members' and Stockholders' Accumulated Deficit Revision of Prior Period, Adjustment	Members' and Stockholders' Accumulated Deficit Revision of Prior Period, Adjustment Period Prior to the Combination	Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss Period Prior to the Combination	Accumulated Other Comprehensive Loss Period Subsequent to the Combination	Accumulated Other Comprehensive Loss Period Subsequent to the Combination Private Placement	Accumulated Other Comprehensive Loss Period Subsequent to the Combination PPU Holders Distribution	Non- Controlling Interests	Non- Controlling Interests Period Prior to the Combination	Non- Controlling Interests Period Subsequent to the Combination	Non- Controlling Interests Period Subsequent to the Combination Private Placement	Non- Controlling Interests Period Subsequent to the Combination PPU Holders Distribution	Non- Controlling Interests Revision of Prior Period, Adjustment	Members' Equity	Members' Equity Period Prior to the Combination	Members' Equity Period Subsequent to the Combination
Stockholders' equity beginning balance at Dec. 31, 2017							$ 4,977																				$ 4,977
Members' equity beginning balance at Dec. 31, 2017	$ (375,582)																	$ 8,562					$ (382,785)					$ (14,232)					$ 10,157						$ 2,716
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(201,303)		$ (52,661)																						$ (19,744)										$ (32,917)
Foreign currency translation adjustment	$ (3,952)	$ 1,721	(5,673)																										$ 1,721	$ (2,417)					(3,256)
Stock-based compensation			8,840																	$ 8,840
Exercise of stock options			3,797						$ 4											2,184										(10)					1,619
Exercise of stock options (in shares)	351,668								352,000
Redemption of Class B Common Stock				$ 32,714	$ 4,823					$ 345	$ 69			$ (468)	$ (69)		$ 123				$ 165,180	$ 24,293									$ (1,965)	$ (289)				$ (130,501)	$ (19,181)
Redemption of Class B Common Stock (in shares)										34,520,000	6,886,000			46,849,000	6,886,000		12,329,000
Tax distribution			(48,955)																																(48,955)
Unrealized (loss) gain on cash flow hedge, net of tax	$ 0
Less: Net loss attributable to Amneal Pharmaceuticals LLC pre-Combination	148,806	(148,709)																						$ (148,806)										$ 97
Capital contribution from non-controlling interest		360																																$ 360
Distributions to members		(191,560)																	$ (8,562)					$ (182,998)
PPU expense		158,757																																						$ 158,757
Capital contribution by Amneal Holdings for employee bonuses		$ 27,742																																						$ 27,742
Effect of the Combination			1,490,232						$ 733				$ 2,250							330,678					709,612					$ 9,437					626,737						$ (189,215)
Effect of the Combination (in shares)									73,289,000				224,996,000
Reclassification of redeemable non-controlling interest			(11,708)																						$ (1,176)										(10,532)
Non-controlling interests from acquisition			2,518																																2,518
Acquisition of non-controlling interests			(3,485)																	(920)															(2,565)
Other			(1,785)																	$ 183															$ (1,968)
Stockholders' equity ending balance at Dec. 31, 2018	$ 896,363					$ 13,561		$ 1,151				$ 1,713				$ 123		530,438					(20,920)			$ 4,957		(7,755)					391,613					$ 8,604
Shares ending balance (in shares) at Dec. 31, 2018								115,047,000				171,261,000				12,329,000
Increase (Decrease) in Temporary Equity [Roll Forward]
Net income (loss)			67
Reclassification of redeemable non-controlling interest			11,708
Acquisition of redeemable non-controlling interest			$ (11,775)
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201602Member
Net income (loss)	$ (603,573)																						(361,917)										(241,656)
Foreign currency translation adjustment	(1,233)																											(729)					(504)
Stock-based compensation	21,679																	21,679
Exercise of stock options	$ 1,400							$ 2										937										(7)					468
Exercise of stock options (in shares)	210,806							211,000
Restricted stock unit vesting, net of shares withheld to cover payroll taxes	$ (1,113)							$ 3										54										(7)					(1,163)
Restricted stock unit vesting, net of shares withheld to cover payroll taxes (in shares)								339,000
Redemption of Class B Common Stock								$ 191				$ (191)						53,858										(795)					(53,063)
Redemption of Class B Common Stock (in shares)								19,144,000				19,144,000
Conversion of Class B-1 Common Stock								$ 123								$ (123)
Conversion of Class B-1 Common Stock (in shares)								12,329,000								(12,329,000)
Tax distribution	(82)																																(82)
Unrealized (loss) gain on cash flow hedge, net of tax	16,373																											7,764					8,609
Reclassification of foreign currency translation adjustment included in net loss	3,413																											1,461					1,952
Less: Net loss attributable to Amneal Pharmaceuticals LLC pre-Combination	0
Stockholders' equity ending balance at Dec. 31, 2019	346,788							$ 1,470				$ 1,522				$ 0		606,966					(377,880)					(68)					114,778
Shares ending balance (in shares) at Dec. 31, 2019								147,070,000				152,117,000				0
Redeemable non-controlling interest, ending balance at Dec. 31, 2019	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	68,578																						91,059										(23,268)
Foreign currency translation adjustment	(13,500)																											(6,643)					(6,857)
Stock-based compensation	20,750																	20,750
Exercise of stock options	$ 321							$ 1										323										(15)					12
Exercise of stock options (in shares)	116,681							117,000
Restricted stock unit vesting, net of shares withheld to cover payroll taxes	$ (863)							$ 4										268										(32)					(1,103)
Restricted stock unit vesting, net of shares withheld to cover payroll taxes (in shares)								487,000
Distribution of earnings to and acquisition of non-controlling interests	(3,300)																	106															(3,406)
Tax distribution	(2,779)																																(2,779)
Unrealized (loss) gain on cash flow hedge, net of tax	(70,276)																											(34,560)					(35,716)
Less: Net loss attributable to Amneal Pharmaceuticals LLC pre-Combination	0
Stockholders' equity ending balance at Dec. 31, 2020	344,932							$ 1,475				$ 1,522						$ 628,413					$ (286,821)					$ (41,318)					$ 41,661
Shares ending balance (in shares) at Dec. 31, 2020								147,674,000				152,117,000
Increase (Decrease) in Temporary Equity [Roll Forward]
Net income (loss)	787
Tax distribution	(458)
Non-controlling interests from Rondo transaction	11,475
Redeemable non-controlling interest, ending balance at Dec. 31, 2020	11,804
Increase (Decrease) in Temporary Equity [Roll Forward]
Net Income (Loss), Including Portion Attributable To Noncontrolling Interest Excluding Temporary Equity Income	$ 67,791

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net income (loss)	$ 68,578	$ (603,573)	$ (201,303)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Gain from reduction of tax receivable agreement liability	0	(192,884)	(1,665)
Depreciation and amortization	235,387	207,235	137,403
Amortization of Levothyroxine Transition Agreement asset	0	36,393	10,423
Unrealized foreign currency (gain) loss	(16,728)	7,342	18,582
Amortization of debt issuance costs	8,678	6,478	5,859
Loss on extinguishment of debt	0	0	19,667
(Gain) loss on sale of international businesses, net	(123)	(7,258)	2,958
Intangible asset impairment charges	37,259	172,781	47,074
Non-cash restructuring and asset-related charges	(536)	12,459	11,295
Deferred tax provision (benefit)	0	371,716	(9,439)
Stock-based compensation and PPU expense	20,750	21,679	167,597
Inventory provision	75,236	82,245	44,539
Other operating charges and credits, net	11,818	7,309	(1,866)
Changes in assets and liabilities:
Trade accounts receivable, net	16,787	(132,726)	89,084
Inventories	(113,782)	(20,393)	(42,021)
Prepaid expenses, other current assets and other assets	33,312	38,870	8,775
Related party receivables	412	(939)	10,928
Accounts payable, accrued expenses and other liabilities	307	(10,257)	(53,547)
Related party payables	1,646	5,228	(14,113)
Net cash provided by operating activities	379,001	1,705	250,230
Cash flows from investing activities:
Purchases of property, plant and equipment	(56,445)	(47,181)	(83,088)
Acquisition of intangible assets	(4,350)	(50,250)	(14,000)
Deposits for future acquisition of property, plant, and equipment	(5,391)	0	0
Acquisitions, net of cash acquired	(251,360)	0	(324,634)
Proceeds from surrender of corporate owned life insurance	0	43,017	0
Proceeds from sales of property, plant and equipment	0	0	25,344
Proceeds from sale of international businesses, net of cash sold	0	34,834	0
Net cash used in investing activities	(317,546)	(19,580)	(396,378)
Cash flows from financing activities:
Payments of deferred financing costs and debt extinguishment costs	(4,102)	0	(54,955)
Proceeds from issuance of debt	180,000	0	1,325,383
Payments of principal on debt, financing leases and other	(35,933)	(27,000)	(617,051)
Net payments on revolving credit line	0	0	(75,000)
Proceeds from exercise of stock options	321	1,400	3,797
Employee payroll tax withholding on restricted stock unit vesting	(863)	(926)	0
Equity contributions	0	0	27,742
Capital contribution from non-controlling interest	0	0	360
Acquisition of redeemable non-controlling interest	0	0	(11,775)
Distribution of earnings to and acquisition of non-controlling interest	(3,300)	(3,543)	0
Tax distribution to non-controlling interest	(3,237)	(13,494)	(35,543)
Distributions to members	0	0	(182,998)
Payments of principal on financing lease - related party	(2,768)	(2,256)
Repayment of related party notes	0	0	(92,042)
Net cash provided by (used in) financing activities	131,807	(45,833)	287,675
Effect of foreign exchange rate on cash	1,037	(2,249)	(670)
Net increase (decrease) in cash, cash equivalents, and restricted cash	194,299	(65,957)	140,857
Cash, cash equivalents, and restricted cash - beginning of period	152,822	218,779	77,922
Cash, cash equivalents, and restricted cash - end of period	347,121	152,822	218,779
Cash and cash equivalents - end of period	341,378	151,197	213,394
Restricted cash - end of period	5,743	1,625	5,385
Supplemental disclosure of cash flow information:
Cash paid for interest	130,186	158,568	131,505
Cash received for income taxes, net	100,141	10,255	34,952
Supplemental disclosure of non-cash investing and financing activity:
Acquisition of non-controlling interest	0	0	3,485
Tax distribution to non-controlling interest	0	0	13,412
Distribution to members	0	0	8,562
Related Party
Cash flows from financing activities:
Payments of principal on financing obligation - related party	0	0	(243)
Payments of principal on financing lease - related party	(1,079)	(2,270)	0
Supplemental disclosure of non-cash investing and financing activity:
Notes payable for acquisitions - related party	$ 36,033	$ 0	$ 0

Nature of Operations and Basis of Presentation	12 Months Ended
Nature of Operations and Basis of Presentation	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations and Basis of Presentation	Nature of Operations and Basis of Presentation Amneal Pharmaceuticals, Inc., formerly known as Atlas Holdings, Inc. (the "Company"), was formed along with its wholly owned subsidiary, K2Merger Sub Corporation, a Delaware corporation ("Merger Sub"), on October 4, 2017, for the purpose of facilitating the combination of Impax Laboratories, Inc. (now Impax Laboratories, LLC), a Delaware corporation then listed on the Nasdaq Stock Market ("Impax") and Amneal Pharmaceuticals LLC, a Delaware limited liability company ("Amneal"). Amneal was formed in 2002 and operates through various subsidiaries. Amneal is a vertically integrated developer, manufacturer, and seller of generic pharmaceutical products. Amneal’s pharmaceutical research includes analytical and formulation development and stability. Amneal has operations in the United States, India, and Ireland. Amneal sells to wholesalers, distributors, hospitals, chain pharmacies and individual pharmacies, either directly or indirectly. On October 17, 2017, Amneal, Impax, the Company and Merger Sub entered into the Business Combination Agreement, as amended on November 21, 2017 and December 16, 2017 (the "BCA"). On May 4, 2018, pursuant to the BCA, Impax and Amneal combined the generics and specialty pharmaceutical business of Impax with the generic drug development and manufacturing business of Amneal to create the Company as a new generics and specialty pharmaceutical company listed on the New York Stock Exchange, through the following transactions (together, the "Combination," and the closing of the Combination, the "Closing"): (i) Merger Sub merged with and into Impax, with Impax surviving as a direct wholly owned subsidiary of the Company, (ii) each share of Impax’s common stock, par value $0.01 per share ("Impax Common Stock"), issued and outstanding immediately prior to the Closing, other than Impax Common Stock held by Impax in treasury, by the Company or by any of their respective subsidiaries, was converted into the right to receive one fully paid and non-assessable share of Class A common stock of the Company, par value $0.01 per share ("Class A Common Stock"), (iii) Impax converted to a Delaware limited liability company, (iv) the Company contributed to Amneal all of the Company’s equity interests in Impax, in exchange for Amneal common units ("Amneal Common Units"), (v) the Company issued an aggregate number of shares of Class B common stock of the Company, par value $0.01 per share ("Class B Common Stock," and collectively, with the Class A Common Stock and Class B-1 common stock of the Company, par value $0.01 , ("Class B-1 Common Stock"), the "Company Common Stock" to APHC Holdings, LLC, (formerly Amneal Holdings, LLC), the parent entity of Amneal as of the Closing ("Holdings"), and (vi) the Company became the managing member of Amneal. Immediately upon the Closing, holders of Impax Common Stock prior to the Closing collectively held approximately 25% of the Company and Holdings held a majority interest in the Company with an effective voting interest of approximately 75% on a fully diluted and as converted basis through its ownership of Class B Common Stock. Holdings also held a corresponding number of Amneal Common Units, which entitled it to approximately 75% of the economic interests in the combined businesses of Impax and Amneal. The Company held an interest in Amneal of approximately 25% and became its managing member. In connection with the Combination, on May 4, 2018, Holdings entered into definitive purchase agreements which provided for a private placement of certain shares of Class A Common Stock and Class B-1 Common Stock (the "PIPE Investment") with select institutional investors (the "PIPE Investors"). Pursuant to the terms of the purchase agreements, upon the Closing, Holdings exercised its right to cause the Company to redeem approximately 15% of its ownership interests in the Company in exchange for 34.5 million shares of Class A Common Stock and 12.3 million unregistered shares of Class B-1 Common Stock (the "Redemption"). The shares of Class A Common Stock and Class B-1 Common Stock received in the Redemption were sold immediately following the Closing by Holdings to the PIPE Investors at a per share purchase price of $18.25 for gross proceeds of $855 million. Following the PIPE Investment, the PIPE Investors owned collectively approximately 15% of the Company Common Stock on a fully diluted and as converted basis. On May 4, 2018, Holdings also caused Amneal to redeem (the "Closing Date Redemption") 6.9 million of Amneal Common Units held by Holdings for a like number of shares of Class A Common Stock, for future distribution to certain direct and indirect members of Holdings who were or are employees of the Company and to whom were previously issued (prior to the Closing) profit participation units ("PPUs") in Amneal. As a result of the PIPE Investment and Closing Date Redemption, the voting and economic interest of approximately 75% held by Holdings immediately upon Closing was reduced by approximately 18%. The overall interest percentage of the non-controlling interest holders upon the consummation of the Combination, PIPE Investment and Closing Date Redemption was approximately 57%. As of December 31, 2020, the overall interest percentage of the non-controlling interest holders was approximately 51%. On July 5, 2018, Holdings distributed to its members (collectively, the "Amneal Group") all Amneal Common Units and shares of Class B Common Stock held by Holdings. As a result, as of December 31, 2020 and 2019, Holdings did not hold any equity interest in Amneal or the Company. The Company is a holding company, whose principal assets are Amneal Common Units. During the year ended December 31, 2019, pursuant to the Company's certificate of incorporation, the Company converted all (12.3 million) of its issued and outstanding shares of Class B-1 Common Stock to Class A Common Stock and such shares of Class B-1 Common Stock have been retired and may not be reissued by the Company. The rights of Class A Common Stock and Class B-1 Common Stock are identical, except that the Class B-1 Common Stock had certain director appointment rights and the Class B-1 Common Stock had no voting rights (other than with respect to its director appointment right and as otherwise required by law).

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Accounting Principles

The financial statements and accompanying notes are prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). All intercompany accounts and transactions have been eliminated.

Principles of Consolidation

Although the Company has a minority economic interest in Amneal, it is Amneal’s sole managing member, having the sole voting power to make all of Amneal’s business decisions and control its management. Therefore, the Company consolidates the financial statements of Amneal and its subsidiaries. The Company’s consolidated financial statements are a continuation of Amneal’s financial statements, with adjustments to equity to reflect the Combination, the PIPE Investment and non-controlling interests for the portion of Amneal’s economic interests that is not held by the Company. Prior to the closing of the Combination and PIPE Investment, the Company did not conduct any activities other than those incidental to the formation of it and Merger Sub and the matters contemplated by the BCA and had no operations and no material assets or liabilities. Results for the year ended December 31, 2018 include the impact of the Combination from May 4, 2018 to December 31, 2018.

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires the Company's management to make estimates and assumptions that affect the reported financial position at the date of the financial statements and the reported results of operations during the reporting period. Such estimates and assumptions affect the reported amounts of assets, liabilities, revenues and expenses, and disclosure of contingent assets and liabilities in the consolidated financial statements and accompanying notes. The following are some, but not all, of such estimates: the determination of chargebacks, sales returns, rebates, billbacks, valuation of intangible and other assets acquired in business combinations, allowances for accounts receivable, accrued liabilities, stock-based compensation, valuation of inventory balances, the determination of useful lives for product rights and the assessment of expected cash flows used in evaluating goodwill and other long-lived assets for impairment. Actual results could differ from those estimates.

Revenue Recognition

On January 1, 2018, the Company adopted Accounting Standards Update ("ASU") 2014-9, Revenue from Contracts with Customers and associated ASUs (collectively "Topic 606"), which sets forth a new five-step revenue recognition model which replaces the prior revenue recognition guidance in its entirety and is intended to eliminate numerous industry-specific sections of revenue recognition guidance that have historically existed.

When assessing its revenue recognition, the Company performs the following five steps in accordance with Topic 606: (i) identify the contract with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the entity satisfies the performance obligation. The Company recognizes revenue when it transfers control of its products to customers, in an amount that reflects the consideration to which the Company expects to be entitled to receive in exchange for those products. For further details on the Company’s revenue recognition policies under Topic 606, refer to Note 4. Revenue Recognition.

Stock-Based Compensation

The Company’s stock-based compensation consists of stock options, restricted stock units ("RSUs") and market performance-based restricted stock units (“MPRSUs”) awarded to employees and non-employee directors. Stock options are measured at their fair value on the grant date or date of modification, as applicable. RSUs, including MPRSUs, are measured at the stock price on the grant date or date of modification, as applicable. The Company recognizes compensation expense on a straight-line basis over the requisite service and/or performance period, as applicable. Forfeitures of awards are accounted for as a reduction in stock-based compensation expense in the period such awards are forfeited. The Company's policy is to issue new shares upon option exercises and the vesting of RSUs and MPRSUs.

Foreign Currencies

The Company has operations in the U.S., India, Ireland, and other international jurisdictions. The results of its non-U.S. dollar based operations are translated to U.S. Dollars at the average exchange rates during the period. Assets and liabilities are translated at the rate of exchange prevailing on the balance sheet date. Investment accounts are translated at historical exchange rates. Translation adjustments are accumulated in a separate component of stockholders’/members’ deficit in the consolidated balance sheet and are included in the determination of comprehensive income. Transaction gains and losses are included in the determination of net income (loss) in the Company consolidated statements of operations as a component of foreign exchange gains and losses. Such foreign currency transaction gains and losses include fluctuations related to long term intercompany loans that are payable in the foreseeable future.

Business Combinations

Business combinations are accounted for using the acquisition method of accounting. Under the acquisition method, the acquiring entity in a business combination records the assets acquired and liabilities assumed at the date of acquisition at their fair values. Any excess of the purchase price over the fair value of net assets and other identifiable intangible assets acquired is recorded as goodwill. Acquisition-related costs, primarily professional fees, are expensed as incurred.

Cash and Cash Equivalents

Cash and cash equivalents consist of cash on deposit and highly liquid investments with original maturities of three months or less. A portion of the Company’s cash flows are derived outside the U.S. As a result, the Company is subject to market risk associated with changes in foreign exchange rates. The Company maintains cash balances at both U.S.-based and foreign-based commercial banks. At various times during the year, cash balances in the U.S. may exceed amounts that are insured by the Federal Deposit Insurance Corporation.

Restricted Cash

At December 31, 2020 and 2019, respectively, the Company had restricted cash balances of $6 million and $2 million in its bank accounts primarily related to the purchase of certain land and equipment.

Accounts Receivable and Allowance for Doubtful Accounts

Trade accounts receivable are recorded at the invoiced amount and do not bear interest. The Company limits its credit risk with respect to accounts receivable by performing credit evaluations when deemed necessary. The Company does not require collateral to secure amounts owed to it by its customers.

Trade accounts receivable are stated at their net realizable value. The allowance for doubtful accounts reflects the best estimate of expected credit losses of the accounts receivable portfolio determined on the basis of historical experience, current information, and forecasts of future economic conditions. The Company determines its allowance methodology by pooling receivable balances at the customer level. We consider various factors, including the Company’s previous loss history, individual credit risk associated to each customer, and the current and future condition of the general economy. These credit risk factors are monitored on a quarterly basis and updated as necessary. To the extent that any individual debtor is identified whose credit quality has deteriorated, the Company establishes allowances based on the individual risk characteristics of such customer. The Company makes concerted efforts to collect all outstanding balances due from customers; however, account balances are charged off against the allowance when management believes it is probable the receivable will not be recovered. The Company does not have any off-balance-sheet credit exposure related to customers.

Chargebacks Received from Manufacturers

When a sale occurs on a contracted item, the difference between the cost the Company pays to the manufacturer of that item and the contract price that the end customer has with the manufacturer is rebated to the Company by the manufacturer as a chargeback. Chargebacks are recorded as a reduction to cost of sales and either a reduction in the amount due to the manufacturer (if there is a right of offset) or as a receivable from the manufacturer.

Inventories

Inventories consist of finished goods held for sale, raw materials, and work in process. Inventories are stated at net realizable value, with cost determined using the first-in, first-out method. Adjustments for excess and obsolete inventories are established based upon historical experience and management’s assessment of current product demand. These assessments include inventory obsolescence based on its expiration date, damaged or rejected product, and slow-moving products.

Property, Plant, and Equipment

Property, plant, and equipment are stated at historical cost less accumulated depreciation. Depreciation expense is computed primarily using the straight-line method over the estimated useful lives of the assets, which are as follows:


Asset Classification						Estimated Useful Life
Buildings						30 years
Computer equipment						5 years
Furniture and fixtures						7 years
Leasehold improvements						Shorter of asset's useful life or remaining life of lease
Machinery and equipment						5 - 10 years
Vehicles						5 years

Upon retirement or disposal, the cost of the asset disposed and the accumulated depreciation are removed from the accounts, and any gain or loss is reflected as part of operating income (loss) in the period of disposal. Expenditures that significantly increase value or extend useful lives of property, plant, and equipment are capitalized, whereas those for normal maintenance and repairs are expensed. The Company capitalizes interest on borrowings during the construction period of major capital projects as part of the related asset and amortizes the capitalized interest into earnings over the related asset’s remaining useful life.

Leases

All significant lease arrangements are recognized as right-of-use (ROU) assets and lease liabilities at lease commencement. ROU assets represent the Company's right to use an underlying asset for the lease term, and lease liabilities represent its obligation to make lease payments arising from the lease. ROU assets and liabilities are recognized at the commencement date based on the present value of the future lease payments using the Company's incremental borrowing rate, which is assessed quarterly.

Operating lease expense is recognized on a straight-line basis over the lease term. At each balance sheet date, operating and financing lease liabilities continue to represent the present value of the future payments. Financing lease ROU assets are expensed using the straight-line method, unless another basis is more representative of the pattern of economic benefit, to lease expense. Interest on financing lease liabilities is recognized in interest expense.

Leases with an initial term of 12 months or less (short-term leases) are not recognized in the balance sheet and the related lease payments are recognized as incurred over the lease term. The Company separates lease and non-lease components. A portion of the Company's real estate leases are subject to periodic changes in the Consumer Price Index ("CPI"). The changes to the CPI are treated as variable lease payments and recognized in the period in which the obligation for those payments was incurred.

For further details regarding the Company's leases, refer to Note 12. Leases.

In-Process Research and Development

The fair value of in-process research and development ("IPR&D") acquired in a business combination is determined based on the present value of each research project’s projected cash flows using an income approach. Revenues are estimated based on

relevant market size and growth factors, expected industry trends, individual project life cycles and the life of each research project’s underlying marketability. In determining the fair value of each research project, expected cash flows are adjusted for certain risks of completion, including technical and regulatory risk.

The value attributable to IPR&D projects at the time of acquisition is capitalized as an indefinite-lived intangible asset and tested for impairment until the project is completed or abandoned. Upon completion of the project, the indefinite-lived intangible asset is then accounted for as a finite-lived intangible asset and amortized over the estimated useful life of the asset based on the pattern in which the economic benefits are expected to be consumed or otherwise used up or, if that pattern is not readily determinable, on a straight-line basis. If the project is abandoned, the indefinite-lived intangible asset is charged to expense.

Intangible assets with indefinite lives, including IPR&D, are tested for impairment if impairment indicators arise and, at a minimum, annually. However, an entity is permitted to first assess qualitative factors to determine if a quantitative impairment test is necessary. Further testing is only required if the entity determines, based on the qualitative assessment, that it is more likely than not that an indefinite-lived intangible asset’s fair value is less than its carrying amount. Otherwise, no further impairment testing is required. The indefinite-lived intangible asset impairment test consists of a one-step analysis that compares the fair value of the intangible asset with its carrying amount. If the carrying amount of an intangible asset exceeds its fair value, an impairment loss is recognized in an amount equal to that excess. The Company considers many factors in evaluating whether the value of its intangible assets with indefinite lives may not be recoverable, including, but not limited to, expected growth rates, the cost of equity and debt capital, general economic conditions, the Company's outlook and market performance of the Company's industry and recent and forecasted financial performance.

Goodwill

Goodwill, which represents the excess of purchase price over the fair value of net assets acquired, is carried at cost. Goodwill is not amortized; rather, it is subject to a periodic assessment for impairment by applying a fair value based test. The Company reviews goodwill for possible impairment annually during the fourth quarter, or whenever events or circumstances indicate that the carrying amount may not be recoverable.

In order to test goodwill for impairment, an entity is permitted to first assess qualitative factors to determine whether a quantitative assessment of goodwill is necessary. The qualitative factors considered by the Company may include, but are not limited to, general economic conditions, the Company’s outlook, market performance of the Company’s industry and recent and forecasted financial performance. Further testing is only required if the entity determines, based on the qualitative assessment, that it is more likely than not that a reporting unit’s fair value is less than its carrying amount. Otherwise, no further impairment testing is required. If a quantitative assessment is required, the Company determines the fair value of its reporting unit using a combination of the income and market approaches. If the net book value of the reporting unit exceeds its fair value, the Company recognizes a goodwill impairment charge for the reporting unit equal to the lesser of (i) the total goodwill allocated to that reporting unit and (ii) the amount by which that reporting unit’s carrying amount exceeds its fair value. See Note 15. Goodwill and Other Intangible Assets, for further discussion of the Company's quantitative assessment of goodwill.

Assumptions and estimates used in the evaluation of impairment may affect the carrying value of long-lived assets, which could result in impairment charges in future periods. Such assumptions include projections of future cash flows and the current fair value of the asset.

Amortization of Intangible Assets with Finite Lives

Intangible assets, other than indefinite-lived intangible assets, are amortized over the estimated useful life of the asset based on the pattern in which the economic benefits are expected to be consumed or otherwise used up or, if that pattern is not readily determinable, on a straight-line basis. The useful life is the period over which the assets are expected to contribute directly or indirectly to future cash flows. Intangible assets are not written-off in the period of acquisition unless they become impaired during that period.

The Company regularly evaluates the remaining useful life of each intangible asset that is being amortized to determine whether events and circumstances warrant a revision to the remaining period of amortization. If the estimate of the intangible asset’s remaining useful life is changed, the remaining carrying amount of the intangible asset is amortized prospectively over that revised remaining useful life. See Note 15. Goodwill and Other Intangible Assets, for further discussion of the Company's intangible assets.

Impairment of Long-Lived Assets (Including Intangible Assets with Finite Lives)

The Company reviews its long-lived assets, including intangible assets with finite lives, for recoverability whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable. The Company evaluates assets for potential impairment by comparing estimated future undiscounted net cash flows to the carrying amount of the asset. If the carrying amount of the assets exceeds the estimated future undiscounted cash flows, impairment is measured based on the difference between the carrying amount of the assets and fair value which is generally an expected present value cash flow technique. Management’s policy in determining whether an impairment indicator exists comprises measurable operating performance criteria as well as other qualitative measures. See Note 15. Goodwill and Other Intangible Assets, for further discussion of the Company's assessment of intangible asset impairment.

Financial Instruments

The Company minimizes its risks from interest fluctuations through its normal operating and financing activities and, when deemed appropriate through the use of derivative financial instruments. Derivative financial instruments are used to manage risk and are not used for trading or other speculative purposes. The Company does not use leveraged derivative financial instruments. Derivative financial instruments that qualify for hedge accounting must be designated and effective as a hedge of the identified risk exposure at the inception of the contract. Accordingly, changes in fair value of the derivative contract must be highly correlated with changes in fair value of the underlying hedged item at inception of the hedge and over the life of the hedge contract.

All derivatives are recorded on the balance sheet as assets or liabilities and measured at fair value. For derivatives designated as cash flow hedges, the effective portion of the changes in fair value of the derivatives are recorded in accumulated other comprehensive income (loss), net of income taxes and subsequently amortized as an adjustment to interest expense over the period during which the hedged forecasted transaction affects earnings, which is when the Company recognizes interest expense on the hedged cash flows. Cash flows of such derivative financial instruments are classified consistent with the underlying hedged item.

Highly effective hedging relationships that use interest rate swaps as the hedging instrument and that meet criteria under ASC 815, Derivatives and Hedging, may qualify for the “short-cut method” of assessing effectiveness. The short-cut method allows the Company to make the assumption of no ineffectiveness, which means that the change in fair value of the hedged item can be assumed to be equal to the change in fair value of the derivative. Unless critical terms change, no further evaluation of effectiveness is performed for these hedging relationships unless a critical term is changed.

For a hedging relationship that does not qualify for the short-cut method, the Company measures its effectiveness using the “hypothetical derivative method”, in which the change in fair value of the hedged item must be measured separately from the change in fair value of the derivative. At inception and quarterly thereafter, the Company formally assesses whether the derivatives that are used in hedging transactions are highly effective in offsetting changes in the fair value or cash flows of the hedged item. The Company compares the change in the fair value of the actual interest rate derivative to the change in the fair value of a hypothetical interest rate derivative with critical terms that match the hedged interest rate payments. After the initial quantitative assessment, this analysis is performed on a qualitative basis and, if it is determined that the hedging relationship was and continues to be highly effective, no further analysis is required.

All components of each derivative financial instrument's gain or loss are included in the assessment of hedge effectiveness. If it is determined that a derivative ceases to be a highly effective hedge, the Company discontinues hedge accounting and any deferred gains or losses related to a discontinued cash flow hedge shall continue to be reported in accumulated other comprehensive income (loss) net of income taxes, unless it is probable that the forecasted transaction will not occur. If it is probable that the forecasted transaction will not occur by the originally specified time period, the Company discontinues hedge accounting, and any deferred gains or losses reported in accumulated other comprehensive income (loss) are classified into earnings immediately.

The Company is subject to credit risk as a result of nonperformance by counterparties to the derivative agreements. Upon inception and quarterly thereafter, the Company makes judgments on each counterparty’s creditworthiness for nonperformance by counterparties.

Income Taxes

The Company accounts for income taxes in accordance with ASC 740, Accounting for Income Taxes, which requires the recognition of tax benefits or expenses on temporary differences between the financial reporting and tax bases of its assets and

liabilities by applying the enacted tax rates in effect for the year in which the differences are expected to reverse. Such net tax effects on temporary differences are reflected on the Company’s consolidated balance sheets as deferred tax assets and liabilities. Deferred tax assets are reduced by a valuation allowance when the Company believes that it is more-likely-than-not that some portion or all of the deferred tax assets will not be realized.

ASC 740-10 prescribes a two-step approach for the recognition and measurement of tax benefits associated with the positions taken or expected to be taken in a tax return that affect amounts reported in the financial statements. The Company has reviewed and will continue to review the conclusions reached regarding uncertain tax positions, which may be subject to review and adjustment at a later date based on ongoing analyses of tax laws, regulations and interpretations thereof. To the extent that the Company’s assessment of the conclusions reached regarding uncertain tax positions changes as a result of the evaluation of new information, such change in estimate will be recorded in the period in which such determination is made. The Company reports income tax-related interest and penalties relating to uncertain tax positions, if applicable, as a component of income tax expense.

Comprehensive Income (Loss)

Comprehensive income (loss) includes net income (loss) and all changes in stockholders’ equity (except those arising from transactions with stockholders) including foreign currency translation adjustments resulting from the consolidation of foreign subsidiaries’ financial statements and unrealized gains on cash flows hedges, net of income taxes.

Research and Development

Research and development ("R&D") activities are expensed as incurred. R&D expenses primarily consist of direct and allocated expenses incurred with the process of formulation, clinical research, and validation associated with new product development. Upfront and milestone payments made to third parties in connection with R&D collaborations are expensed as incurred up to the point of regulatory approval or when there is no alternative future use.

Intellectual Property Legal Development Expenses

The Company expenses external intellectual property legal development expenses as incurred. These costs relate to legal challenges of innovator’s patents for invalidity or non-infringement, which are customary in the generic pharmaceutical industry, and are incurred predominately during development of a product and prior to regulatory approval. Associated costs include, but are not limited to, formulation assessments, patent challenge opinions and strategy, and litigation expenses to defend the intellectual property supporting the Company's regulatory filings.

Shipping Costs

The Company records the costs of shipping product to its customers as a component of selling, general, and administrative expenses as incurred. Shipping costs were $17 million, $15 million and $21 million for the years ended December 31, 2020, 2019 and 2018, respectively.

Recently Adopted Accounting Pronouncements

In August 2018, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement, which modified the disclosure requirements on fair value measurement. The Company adopted ASU 2018-13 effective January 1, 2020, and it did not have a material impact on the Company’s consolidated financial statements.

In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, guidance that changes the impairment model for most financial assets including trade receivables and certain other instruments that are not measured at fair value through net income. The standard replaced today’s "incurred loss" approach with an "expected loss" model for instruments measured at amortized cost and requires entities to record allowances for available-for-sale debt securities rather than reduce the carrying amount, as they did under the other-than-temporary impairment model. It also simplifies the accounting model for purchased credit-impaired debt securities and loans. Entities apply the standard’s provisions as a cumulative effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. The Company adopted ASU 2016-13 effective January 1, 2020, and it did not have a material impact on the Company’s consolidated financial statements.

Recently Issued Accounting Pronouncements

In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform, which provided elective amendments for entities that have contracts, hedging relationships and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The amendments may be applied to impacted contracts and hedges prospectively through December 31, 2022. The Company is currently evaluating the impact this guidance will have on its consolidated financial statements.

Acquisitions and Divestitures

12 Months Ended

Dec. 31, 2020

Business Combinations [Abstract]

Acquisitions and Divestitures

Acquisitions

AvKARE and R&S Purchase Agreement

On December 10, 2019, the Company, through its investment in Rondo Partners, LLC (“Rondo”), entered into equity purchase and operating agreements to acquire approximately a 65.1% controlling financing interest in both AvKARE Inc., a Tennessee corporation, and Dixon-Shane, LLC d/b/a R&S Northeast LLC, a Kentucky limited liability company (“R&S”) (collectively the “Acquisitions”). Prior to closing, AvKARE, Inc. converted to a limited liability company, AvKARE, LLC. AvKARE, LLC is one of the largest private label providers of generic pharmaceuticals in the U.S. federal agency sector, primarily focused on serving the Department of Defense and the Department of Veterans Affairs. R&S is a national pharmaceutical wholesaler focused primarily on offering 340b-qualified entities products to provide consistency in care and pricing.

On January 31, 2020, the Company completed the Acquisitions. The purchase price of $294 million included cash of $254 million, the issuance of long-term promissory notes to the sellers with an aggregate principal amount of $44 million (estimated fair value of $35 million) (the “Sellers Notes”) and a short-term promissory note (the “Short-Term Seller Note”) with a principal amount of $1 million to the sellers. The cash purchase price was funded by $76 million of cash on hand and debt of $178 million of proceeds from a $180 million term loan. The remaining $2 million consisted of working capital costs. The Company is not party to or a guarantor of the term loan, the Sellers Notes or the Short-Term Sellers Note. (refer to Note 17. Debt). For further detail of the purchase price, refer to the table below.

For the year ended December 31, 2020, there were $1 million of transaction costs associated with the Acquisitions recorded in acquisition, transaction-related and integration expenses (none in 2019 and 2018).

The Acquisitions were accounted for under the acquisition method of accounting, with Amneal as the accounting acquirer of AvKARE, LLC and R&S.

The purchase price was calculated as follows (in thousands):


Cash	$	254,000
Sellers Notes (1)	35,033
Settlement of Amneal trade accounts receivable from R&S (2)	6,855
Short-Term Seller Note (3)	1,000
Working capital adjustment (4)	(2,640)
Fair value consideration transferred	$	294,248

(1)In accordance with ASC 805, Business Combinations, all consideration transferred was measured at its acquisition-date fair value. The Sellers Notes were stated at the fair value estimate of $35 million, which is the $44 million aggregate principal amount less a $9 million discount. The fair value of the Sellers Notes was estimated using the Monte-Carlo simulation approach under the option pricing framework.

(2)Represents trade accounts receivable from R&S that was effectively settled upon closing of the Acquisitions.

(3)Represents the principal amount due on the Short-Term Seller Note, which approximates fair value.

(4)Represents a working capital adjustment pursuant to the terms of the purchase agreement. The entire amount was received in cash by the Company in September 2020.

The following is a summary of the purchase price allocation for the Acquisitions (in thousands):


	Preliminary Fair Values as of January 31, 2020
Trade accounts receivable, net	$	46,702
Inventories	71,908
Prepaid expenses and other current assets	11,316
Related party receivables	61
Property, plant and equipment	5,278
Goodwill	103,679
Intangible assets, net	130,800
Operating lease right-of-use assets - related party	5,544
Total assets acquired	375,288
Accounts payable and accrued expenses	62,489
Related party payables	1,532
Operating lease liabilities - related party	5,544
Total liabilities assumed	69,565
Redeemable non-controlling interests	11,475
Fair value of consideration transferred	$	294,248

The acquired intangible assets are being amortized over their estimated useful lives as follows (in thousands):


	Final Fair Values		Weighted-Average Useful Life
Government licenses	$	66,700	7 years
Government contracts	22,000		4 years
National contracts	28,600		5 years
Customer relationships	13,000		10 years
Trade name	500		6 years
	$	130,800

The estimated fair value of the government licenses was determined using the “with-and-without method,” which is a valuation technique that provides an estimate of the fair value of an intangible asset that is equal to the difference between the present value of the prospective revenues and expenses for the business with and without the subject intangible asset in place. The estimated fair values of the government contracts, national contracts, and customer relationships were determined using the “income approach,” which is a valuation technique that provides an estimate of the fair value of an intangible asset based on market participant expectations of the cash flows that an intangible asset would generate over its remaining useful life. The estimated fair value of the trade name was determined using the “relief from royalty method,” which is a valuation technique that provides an estimate of the fair value of an intangible asset equal to the present value of the after-tax royalty savings attributable to owning the intangible asset. The assumptions, including the expected projected cash flows, utilized in the preliminary purchase price allocation and in determining the purchase price were based on management's best estimates as of the closing date of the Acquisitions on January 31, 2020. All elements of the purchase price allocation have been finalized, except for deferred taxes which are based on the determination of the U.S. partnership tax basis.

Some of the more significant assumptions inherent in the development of those asset valuations included the estimated net cash flows for each year for each asset (including net revenues, cost of sales, selling and marketing costs and working capital / contributory asset charges), the appropriate discount rate to select in order to measure the risk inherent in each future cash flow stream, the assessment of each asset’s life cycle, competitive trends impacting the asset and each cash flow stream, as well as other factors. The underlying assumptions used to prepare the discounted cash flow analysis may change; accordingly, for these and other reasons, actual results may vary significantly from estimated results.

The Sellers Notes and redeemable non-controlling interests were estimated using the Monte-Carlo simulation approach under the option pricing framework. The non-controlling interests are redeemable at the option of either the non-controlling interest holder and Amneal. The fair value of the redeemable non-controlling interests considers these redemption rights.

Of the $104 million of goodwill acquired in connection with the Acquisitions, approximately $70 million was allocated to the Company’s AvKARE segment and approximately $34 million was allocated to the Generics segment (refer to Note 26. Segment Information). Goodwill was allocated to the Generics segment as net revenue of products manufactured by Amneal and distributed by the Acquisitions is reflected in Generics’ segment results. Goodwill is calculated as the excess of the fair value of the consideration transferred and the fair value of the redeemable non-controlling interests over the fair value of the net assets recognized. Factors that contributed to the recognition of goodwill include Amneal’s intent to diversify its business and open growth opportunities in the large, complex and growing federal healthcare market.

For the year ended December 31, 2020, the Acquisitions contributed total net revenue of approximately $311 million and operating income of $4 million, which included approximately $32 million of amortization expense from intangible assets acquired in the Acquisitions, to the Company’s consolidated results of operations.

Impax Acquisition

On May 4, 2018, the Company completed the Combination, as described in Note 1. Nature of Operations and Basis of Presentation. For the year ended December 31, 2018, transaction costs associated with the Impax acquisition of $23 million were recorded in acquisition, transaction-related and integration expenses (none for the years ended December 31, 2020 and 2019).

The Impax acquisition was accounted for under the acquisition method of accounting, with Amneal as the accounting acquirer of Impax. Amneal was identified as the accounting acquirer because: (i) Amneal exchanged Amneal Common Units with the Company for the Company’s interest in Impax, (ii) Holdings held a majority interest in the Company with an effective voting interest of approximately 75% on a fully diluted and as converted basis through its ownership of Class B Common Stock, and (iii) a majority of the directors on the Company's board of directors were designated by Holdings. As such, the cost to acquire Impax was allocated to the respective assets acquired and liabilities assumed based on their estimated fair values as of the closing date of the Combination.

The measurement of the consideration transferred by Amneal for its interest in Impax is based on the fair value of the equity interest that Amneal would have had to issue to give the Impax shareholders the same percentage equity interest in the Company, which is equal to approximately 25% of Amneal, on May 4, 2018. However, the fair value of Impax's common stock was used to calculate the consideration for the Combination because Impax's common stock had a quoted market price and the Combination involved only the exchange of equity.

The purchase price, net of cash acquired, is calculated as follows (in thousands, except share amount and price per share):


Fully diluted Impax share number (1)	73,288,792
Closing quoted market price of an Impax common share on May 4, 2018	$	18.30
Equity consideration - subtotal	$	1,341,185
Add: Fair value of Impax stock options as of May 4, 2018 (2)	22,610
Total equity consideration	1,363,795
Add: Extinguishment of certain Impax obligations, including accrued and unpaid interest	320,290
Less: Cash acquired	(37,907)
Purchase price, net of cash acquired	$	1,646,178

(1)Represents shares of Impax Common Stock issued and outstanding immediately prior to the Combination.

(2)Represents the fair value of 3.0 million fully vested Impax stock options valued using the Black-Scholes options pricing model.

The following is a summary of the purchase price allocation for the Impax acquisition (in thousands):


	Final Fair Values As of May 4, 2018
Trade accounts receivable, net	$	210,820
Inventories	183,088
Prepaid expenses and other current assets	91,430
Property, plant and equipment	87,472
Goodwill	398,733
Intangible assets	1,574,929
Other	55,790
Total assets acquired	2,602,262
Accounts payable	47,912
Accrued expenses and other current liabilities	274,979
Long-term debt	599,400
Other long-term liabilities	33,793
Total liabilities assumed	956,084
Net assets acquired	$	1,646,178

Intangible Assets

The acquired intangible assets are being amortized over their estimated useful lives as follows (in thousands):


	Final Fair Values		Weighted-Average Useful Life (Years)
Marketed product rights	$	1,045,617	12.9

In addition to the amortizable intangible assets noted above, $529 million was allocated to IPR&D.

The estimated fair value of the in-process research and development and identifiable intangible assets was determined using the "income approach," which is a valuation technique that provides an estimate of the fair value of an asset based on market participant expectations of the cash flows an asset would generate over its remaining useful life. The assumptions, including the expected projected cash flows, utilized in the purchase price allocation and in determining the purchase price were based on management's best estimates as of the closing date of the Combination on May 4, 2018.

Some of the more significant assumptions inherent in the development of those asset valuations included the estimated net cash flows for each year for each asset or product (including net revenues, cost of sales, R&D, selling and marketing costs and working capital / contributory asset charges), the appropriate discount rate to select in order to measure the risk inherent in each future cash flow stream, the assessment of each asset’s life cycle, the potential regulatory and commercial success risks, competitive trends impacting the asset and each cash flow stream, as well as other factors. The underlying assumptions used to prepare the discounted cash flow analysis may change; accordingly, for these and other reasons, actual results may vary significantly from estimated results.

Goodwill

Of the total goodwill acquired in connection with the Impax acquisition, approximately $360 million was allocated to the Company’s Specialty segment and approximately $39 million was allocated to the Generics segment. Goodwill is calculated as the excess of the consideration transferred over the net assets recognized and represents the expected revenue and cost synergies of the combined company. Factors that contributed to the Company’s recognition of goodwill include the Company’s intent to expand its generic and specialty product portfolios and to acquire certain benefits from the Impax product pipelines, in addition to the anticipated synergies that the Company expects to generate from the acquisition.

Gemini Laboratories, LLC Acquisition

On May 7, 2018, the Company acquired 98.0% of the outstanding equity interests in Gemini Laboratories, LLC ("Gemini") for total consideration of $120 million, net of $4 million cash acquired. At closing, the acquisition was funded by a $43 million up-front cash payment (including $3 million related to a preliminary working capital adjustment) from cash on hand and a $77 million unsecured promissory note. The note payable bears interest at 3% annually. The note payable and related accrued interest was paid on November 7, 2018, its maturity date. Additionally, the Company made a payment of $3 million in July 2018 related to the final working capital adjustment. In connection with the acquisition of Gemini, the Company recorded an amount representing the non-controlling interest of Gemini of $3 million. During September 2020, the Company paid $3 million to Gemini’s non-controlling interest holders, of which $2 million was to acquire their remaining 2.0% equity interests and $1 million to distribute earnings. Refer to Note 22. Stockholders’ Equity, for further details.

Gemini is a pharmaceutical company with a portfolio that includes licensed and owned, niche and mature branded products. Gemini was a related party of the Company; refer to Note 24. Related Party Transactions, for further details.

For the year ended December 31, 2018, transaction costs associated with the Gemini acquisition of $0.4 million were recorded in acquisition, transaction-related and integration expenses (none for the years ended December 31, 2020 and 2019). The Gemini acquisition was accounted for under the acquisition method of accounting.

The following is a summary of the purchase price allocation for the Gemini acquisition (in thousands):


	Final Fair Values As of May 7, 2018
Trade accounts receivable, net	$	8,158
Inventories	1,851
Prepaid expenses and other current assets	3,795
Property, plant and equipment, net	11
Goodwill	1,500
Intangible assets	142,740
Other	324
Total assets acquired	158,379
Accounts payable	1,764
Accrued expenses and other current liabilities	14,644
License liability	20,000
Total liabilities assumed	36,408
Net assets acquired	$	121,971

The acquired intangible assets are being amortized over their estimated useful lives as follows (in thousands):


	Final Fair Values		Weighted-Average Useful Life
Product rights for licensed / developed technology	$	110,350	10 years
Product rights for developed technologies	5,500		9 years
Product rights for out-licensed generics royalty agreement	390		2 years
	$	116,240

In addition to the amortizable intangibles noted above, $27 million was allocated to IPR&D.

The goodwill recognized of $2 million is allocated to the Company's Specialty segment.

The Company's consolidated statements of operations for the year ended December 31, 2018 include the results of operations of Impax and Gemini subsequent to May 4, 2018 and May 7, 2018, respectively. For the periods from their respective acquisition

dates to December 31, 2018, Impax contributed net revenue of $399 million and an estimated pre-tax loss of $104 million and Gemini contributed net revenue of $32 million and estimated pre-tax income of $10 million.

Unaudited Pro Forma Information

The unaudited pro forma combined results of operations for the years ended December 31, 2020 (assuming the closing of the Acquisitions occurred on January 1, 2019) are as follows (in thousands):


	Year Ended December 31,
	2020		2019
Net revenue	$	2,023,231	$	1,933,042
Net income (loss)	$	68,588	$	(594,040)
Net income (loss) attributable to Amneal Pharmaceuticals, Inc.	$	91,062	$	(359,140)

The pro forma results have been prepared for comparative purposes only and are not necessarily indicative of the actual results of operations had the closing of the Acquisitions taken place on January 1, 2019. Furthermore, the pro forma results do not purport to project the future results of operations of the Company.

Adjustments to arrive at the unaudited pro forma information primarily related to increases in selling, general and administrative expenses for amortization of acquired intangible assets, net of the applicable tax impact.

Divestitures

UK Divestiture

On March 30, 2019, the Company sold 100% of the stock of its Creo Pharma Holding Limited subsidiary, which comprised substantially all of the Company's operations in the United Kingdom, to AI Sirona (Luxembourg) Acquisition S.a.r.l ("AI Sirona") for net cash consideration of approximately $32 million which was received in April 2019. The carrying value of the net assets sold was $22 million, including intangible assets of $7 million and goodwill of $5 million. As a result of the sale, the Company recognized a pre-tax gain of $9 million, inclusive of transaction costs and the recognition of accumulated foreign currency translation adjustment losses of $3 million, within gain (loss) on sale of international business for the year ended December 31, 2019. For the year ended December 31, 2020 the Company made a $0.5 million payment to AI Sirona, and recognized a $0.1 million gain on sale of international business for final settlement of the divestiture. As part of the disposition, the Company entered into a supply and license agreement with AI Sirona to supply certain products for a period of up to two years.

Germany Divestiture

On May 3, 2019, the Company sold 100% of the stock of its Amneal Deutschland GmbH subsidiary, which comprised substantially all of the Company's operations in Germany, to EVER Pharma Holding Ges.m.b.H. (“EVER”) for net cash consideration of approximately $3 million which was received in May 2019. The carrying value of the net assets sold was $7 million, including goodwill of $0.5 million. As a result of the sale, the Company recognized a pre-tax loss of $2 million, inclusive of transaction costs and the recognition of accumulated foreign currency translation adjustment losses, within gain (loss) on sale of international business for the year ended December 31, 2019. As part of the disposition, the Company also entered into a license and supply agreement with EVER to supply certain products for an 18-month period.

Spain/Nordics Divestitures

On September 30, 2017, Amneal sold 100% of the equity and certain marketing authorizations, including associated dossiers, of its Amneal Nordic ApS and Amneal Pharma Spain S.L. subsidiaries to Aristo Pharma GmbH (“Aristo”) for cash consideration of $8 million. Amneal received $7 million in October 2017 with the remainder was to be paid within 60 days of closing of the disposition based on the actual closing date net working capital of the entities sold. The carrying value of the net assets sold was $13 million, including intangible assets of $1 million and goodwill of $2 million. As a result of the sale, Amneal recognized a loss of $5 million, inclusive of a release of foreign currency translation adjustment loss of $0.5 million, within the loss on sale of certain international businesses for the year ended December 31, 2017.

Aristo was also required to make an additional payment within 12 months of the closing date of the disposition based on the actual inventory, transferred as part of the transaction, that the buyer sold over this period. All terms of the sale were settled in 2018.

Revenue Recognition

12 Months Ended

Dec. 31, 2020

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Performance Obligations

The Company’s performance obligation is the supply of finished pharmaceutical products to its customers. The Company’s customers consist primarily of major wholesalers, retail pharmacies, managed care organizations, purchasing co-ops, hospitals, government agencies, institutions and pharmaceutical companies. The Company’s customer contracts generally consist of both a master agreement, which is signed by the Company and its customer, and a customer submitted purchase order, which is governed by the terms and conditions of the master agreement. Customers purchase product by direct channel sales from the Company or by indirect channel sales through various distribution channels.

Revenue is recognized when the Company transfers control of its products to the customer, which typically occurs at a point-in-time, upon shipment or delivery. Substantially all of the Company’s net revenues relate to products which are transferred to the customer at a point-in-time.

The Company offers standard payment terms to its customers and has elected the practical expedient to not adjust the promised amount of consideration for the effects of a significant financing, since the period between when the Company transfers the product to the customer and when the customer pays for that product is one year or less. Taxes collected from customers relating to product sales and remitted to governmental authorities are excluded from revenues. The consideration amounts due from customers as a result of product sales are subject to variable consideration, as described further below.

The Company offers standard product warranties which provide assurance that the product will function as expected and in accordance with specifications. Customers cannot purchase warranties separately and these warranties do not give rise to a separate performance obligation.

The Company permits the return of product under certain circumstances, mainly upon product expiration, instances of shipping errors or where product is damaged in transit. The Company accrues for the customer’s right to return as part of its variable consideration. See below for further details.

Variable Consideration

The Company includes an estimate of variable consideration in its transaction price at the time of sale, when control of the product transfers to the customer. Variable consideration includes but is not limited to: chargebacks, distribution fees, rebates, group purchasing organization ("GPO") fees, prompt payment (cash) discounts, consideration payable to the customer, billbacks, Medicaid and other government pricing programs, price protection and shelf stock adjustments, sales returns, and profit shares.

The Company assesses whether or not an estimate of its variable consideration is constrained and has determined that the constraint does not apply, since it is probable that a significant reversal in the amount of cumulative revenue will not occur in the future when the uncertainty associated with the variable consideration is subsequently resolved. The Company’s estimates for variable consideration are adjusted as required at each reporting period for specific known developments that may result in a change in the amount of total consideration it expects to receive.

Chargebacks

In the case an indirect customer purchases product from their preferred wholesaler instead of directly from the Company, and the contract price charged to the indirect customer is lower than the wholesaler pricing, the Company pays the direct customer (wholesaler) a chargeback for the price differential. The Company estimates its chargeback accrual based on its estimates of the level of inventory of its products in the distribution channel that remain subject to chargebacks and historical chargeback rates. The estimate of the level of products in the distribution channel is based primarily on data provided by key customers.

Rebates

The Company pays fixed or volume-based rebates to its customers based on a fixed amount, fixed percentage of product sales or based on the achievement of a specified level of purchases. The Company’s rebate accruals are based on actual net sales,

contractual rebate rates negotiated with customers, and expected purchase volumes / corresponding tiers based on actual sales to date and forecasted amounts.

Group Purchasing Organization Fees

The Company pays fees to GPOs for administrative services that the GPOs perform in connection with the purchases of product by the GPO participants who are the Company’s customers. The Company’s GPO fee accruals are based on actual net sales, contractual fee rates negotiated with GPOs and the mix of the products in the distribution channel that remain subject to GPO fees.

Prompt Payment (Cash) Discounts

The Company provides customers with prompt payment discounts which may result in adjustments to the price that is invoiced for the product transferred, in the case that payments are made within a defined period. The Company’s prompt payment discount accruals are based on actual net sales and contractual discount rates.

Consideration Payable to the Customer

The Company pays administrative and service fees to its customers based on a fixed percentage of the product price. These fees are not in exchange for a distinct good or service and therefore are recognized as a reduction of the transaction price. The Company accrues for these fees based on actual net sales, contractual fee rates negotiated with the customer and the mix of the products in the distribution channel that remain subject to fees.

Billbacks

In the case an indirect customer purchases product from their preferred wholesaler instead of directly from the Company, and the contract price charged to the indirect customer is higher than contractual pricing, the Company pays the indirect customer a billback for the price differential. The Company estimates its billback accrual based on its estimates of the level of inventory of its products in the distribution channel that remain subject to billbacks and historical billback rates. The estimate of the level of products in the distribution channel is based primarily on data provided by key customers.

Medicaid and Other Government Pricing Programs

The Company complies with required rebates mandated by law under Medicaid and other government pricing programs. The Company estimates its government pricing accruals based on monthly sales, historical experience of claims submitted by the various states and jurisdictions, historical rates and estimated lag time of the rebate invoices.

Price Protection and Shelf Stock Adjustments

The Company provides customers with price protection and shelf stock adjustments which may result in an adjustment to the price charged for the product transferred, based on differences between old and new prices which may be applied to the customer’s on-hand inventory at the time of the price change. The Company accrues for these adjustments when its expected value of an adjustment is greater than zero, based on contractual pricing, actual net sales, accrual rates based on historical average rates, and estimates of the level of inventory of its products in the distribution channel that remain subject to these adjustments. The estimate of the level of products in the distribution channel is based primarily on data provided by key customers.

Sales Returns

The Company permits the return of product under certain circumstances, mainly upon product expiration, instances of shipping errors or where product is damaged in transit, and occurrences of product recalls. The Company’s product returns accrual is primarily based on estimates of future product returns based generally on actual net sales, estimates of the level of inventory of its products in the distribution channel that remain subject to returns, estimated lag time of returns and historical return rates. The estimate of the level of products in the distribution channel is based primarily on data provided by key customers.

Profit Shares

For certain product sale arrangements, the Company earns a profit share upon the customer’s sell-through of the product purchased from the Company. The Company estimates its profit shares based on actual net sales, estimates of the level of

inventory of its products in the distribution channel that remain subject to profit shares, and historical rates of profit shares earned. The estimate of the level of products in the distribution channel is based primarily on data provided by key customers.

Concentration of Revenue

The Company's three largest customers accounted for approximately 83%, 81% and 83% of total gross sales of products for the years ended December 31, 2020, 2019 and 2018, respectively.

Disaggregated Revenue

The Company's significant therapeutic classes for each of its reportable segments, as determined based on net revenue for each of the years ended December 31, 2020, 2019 and 2018 are set forth below (in thousands):


		Year ended December 31,
		2020		2019		2018
Generics
	Anti-Infective	$	40,381	$	36,320	$	37,988
	Hormonal/Allergy	355,581		364,658		246,765
	Antiviral	25,724		27,488		44,334
	Central Nervous System (1)	422,405		423,416		476,046
	Cardiovascular System	114,226		117,065		182,990
	Gastroenterology	78,165		42,783		52,878
	Oncology	61,113		62,721		40,347
	Metabolic Disease/Endocrine	45,004		55,786		68,448
	Respiratory	37,389		34,920		49,651
	Dermatology	58,168		60,186		40,010
	Other therapeutic classes	102,721		60,041		139,580
	International and other	2,333		23,459		59,994
	Total Generics net revenue	1,343,210		1,308,843		1,439,031
Specialty
	Hormonal/Allergy	54,631		45,547		29,048
	Central Nervous System (1)	285,737		235,846		146,812
	Gastroenterology	1,597		4,223		1,141
	Metabolic Disease/Endocrine	646		894		1,306
	Other therapeutic classes	12,956		31,020		45,653
	Total Specialty net revenue	355,567		317,530		223,960
AvKARE
	Distribution	161,673		—		—
	Government Label	104,054		—		—
	Institutional	18,546		—		—
	Other	9,473		—		—
	Total AvKARE net revenue	293,746		—		—
	Total net revenue	$	1,992,523	$	1,626,373	$	1,662,991

(1)During the three months ended September 30, 2019, operating results for Oxymorphone were reclassified from Generics to Specialty, where it is sold as a non-promoted product. Prior period results have not been restated to reflect the reclassification.

A rollforward of the major categories of sales-related deductions for the years ended December 31, 2020, 2019 and 2018 is as follows (in thousands):


	Contract Charge- backs and Sales Volume Allowances		Cash Discount Allowances		Accrued Returns Allowance		Accrued Medicaid and Commercial Rebates
Balance at January 1, 2018	$	453,703	$	20,408	$	45,175	$	12,911
Liabilities assumed from acquisitions	222,970		11,781		102,502		51,618
Provision related to sales recorded in the period	3,463,983		117,010		85,996		104,664
Credits/payments issued during the period	(3,311,060)		(113,042)		(79,170)		(94,991)
Balance at December 31, 2018	829,596		36,157		154,503		74,202
Provision related to sales recorded in the period	4,628,084		136,005		104,664		202,635
Credits/payments issued during the period	(4,627,873)		(137,854)		(108,806)		(161,877)
Balance at December 31, 2019	829,807		34,308		150,361		114,960
Impact from the Acquisitions	12,444		944		11,606		10
Provision related to sales recorded in the period	3,930,682		118,525		110,556		133,748
Credits/payments issued during the period	(4,144,909)		(131,087)		(97,539)		(117,630)
Balance at December 31, 2020	$	628,024	$	22,690	$	174,984	$	131,088

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
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-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

+ Details

Alliance and Collaboration	12 Months Ended
Alliance and Collaboration	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Alliance and Collaboration	Alliance and Collaboration The Company has entered into several alliance, collaboration, license, distribution and similar agreements with respect to certain of its products and services with third-party pharmaceutical companies. The consolidated statements of operations include revenue recognized under agreements the Company has entered into to develop marketing and/or distribution relationships with its partners to fully leverage the technology platform and revenue recognized under development agreements which generally obligate the Company to provide research and development services over multiple periods. The Company's significant arrangements are discussed below. Levothyroxine License and Supply Agreement; Transition Agreement On August 16, 2018, the Company entered into a license and supply agreement with Jerome Stevens Pharmaceuticals, Inc. ("JSP") for levothyroxine sodium tablets ("Levothyroxine"). This agreement designated the Company as JSP's exclusive commercial partner for Levothyroxine in the U.S. market for a 10-year term commencing on March 22, 2019. Under this license and supply agreement with JSP, the Company accrued the up-front license payment of $50 million on March 22, 2019, which was paid in April 2019. The agreement also provides for the Company to pay a profit share to JSP based on net profits of the Company's sales of Levothyroxine, after considering product costs. On November 9, 2018, the Company entered into a transition agreement ("Transition Agreement") with Lannett Company (“Lannett”) and JSP. Under the terms of the agreement, the Company assumed the distribution and marketing of Levothyroxine from Lannett beginning December 1, 2018 through March 22, 2019 (the “Transition Period”), ahead of the commencement date of the license and supply agreement with JSP described above. In accordance with the terms of the Transition Agreement, the Company made $47 million of non-refundable payments to Lannett in November 2018. For the years ended December 31, 2019 and 2018, $37 million and $10 million, respectively, were expensed to costs of goods sold, as the company sold Levothyroxine. Additionally, during the year ended December 31, 2019, the Company recorded $1 million in cost of sales related to reimbursement due to Lannett for certain of its unsold inventory at the end of the Transition Period, which was fully settled in March 2020. Biosimilar Licensing and Supply Agreement On May 7, 2018, the Company entered into a licensing and supply agreement, with Mabxience S.L., for its biosimilar candidate for Avastin® (bevacizumab). The Company will be the exclusive partner in the U.S. market. The Company will pay up-front, development and regulatory milestone payments as well as commercial milestone payments on reaching pre-agreed sales targets in the market to Mabxience, up to $72 million. For each of the years ended December 31, 2020, 2019 and 2018, the Company expensed milestone payments of $5 million in research and development expense. Distribution, License, Development and Supply Agreement with AstraZeneca UK Limited In January 2012, Impax entered into an agreement with AstraZeneca UK Limited ("AstraZeneca") to distribute branded products under the terms of a distribution, license, development and supply agreement (the "AZ Agreement"). The parties subsequently entered into a First Amendment to the AZ Agreement dated May 31, 2016 (as amended, the "AZ Amendment"). Under the terms of the AZ Agreement, AstraZeneca granted to Impax an exclusive license to commercialize the tablet, orally disintegrating tablet and nasal spray formulations of Zomig® (zolmitriptan) products for the treatment of migraine headaches in the United States and in certain U.S. territories, except during an initial transition period when AstraZeneca fulfilled all orders of Zomig® products on Impax’s behalf and AstraZeneca paid to Impax the gross profit on such Zomig® products. Pursuant to the AZ Amendment, under certain conditions, and depending on the nature and terms of the study agreed to with the FDA, Impax agreed to conduct, at its own expense, the juvenile toxicity study and pediatric study required by the FDA under the Pediatric Research Equity Act ("PREA") for approval of the nasal formulation of Zomig ® for the acute treatment of migraine in pediatric patients ages six through eleven years old, as further described in the study protocol mutually agreed to by the parties (the "PREA Study"). In consideration for Impax conducting the PREA Study at its own expense, the AZ Amendment provided for the total royalty payments payable by Impax to AstraZeneca on net sales of Zomig ® products under the AZ Agreement to be reduced by an aggregate amount of $30 million to be received in quarterly amounts specified in the Amendment beginning from the quarter ended June 30, 2016 and through the quarter ended December 31, 2020. In the event the royalty reduction amounts exceeded the royalty payments payable by Impax to AstraZeneca pursuant to the AZ Agreement in any given quarter, AstraZeneca was required to pay Impax an amount equal to the difference between the royalty reduction amount and the royalty payment payable by Impax to AstraZeneca. Impax’s commitment to perform the PREA Study may be terminated, without penalty, under certain circumstances as set forth in the AZ Amendment. The Company recognized the amounts received from AstraZeneca for the PREA Study as a reduction to research and development expense. In May 2013, Impax’s exclusivity period for branded Zomig® tablets and orally disintegrating tablets expired and Impax launched authorized generic versions of those products in the United States. As discussed above, pursuant to the AZ Amendment, the total royalty payments payable by Impax to AstraZeneca on net sales of Zomig ® products under the AZ Agreement was reduced by certain specified amounts beginning from the quarter ended June 30, 2016 and through the quarter ended December 31, 2020, with such reduced royalty amounts totaling an aggregate amount of $30 million. The Company recorded cost of goods sold for royalties under this agreement of $17 million, $19 million, and $15 million for the years ended December 31, 2020, 2019 and 2018, respectively. Agreements with Kashiv Biosciences, LLC For detail on the Company’s related party agreements with Kashiv Biosciences, LLC, refer to Note 24. Related Party Transactions.

Restructuring and Other Charges

12 Months Ended

Dec. 31, 2020

Restructuring and Related Activities [Abstract]

Restructuring and Other Charges

During the three months ended June 30, 2018, in connection with the Combination, the Company committed to a restructuring plan to achieve cost savings. The Company expected to integrate its operations and reduce its combined cost structure through workforce reductions that eliminated duplicative positions and consolidated certain administrative, manufacturing and research and development facilities. In connection with this plan, the Company announced on May 10, 2018 that it intended to close its Hayward, California-based operations.

In addition to the actions noted above, on July 10, 2019, the Company announced a plan to restructure its operations that is intended to reduce costs and optimize its organizational and manufacturing infrastructure. Pursuant to the restructuring plan as revised, the Company expects to reduce its headcount over the course of this multi-year program by approximately 300 to 350 employees through December 31, 2021, primarily by closing its manufacturing facility located in Hauppauge, NY. Through December 31, 2020, the Company reduced headcount by 280 employees under this plan.

Other cash expenditures associated with this restructuring plan, including decommissioning and dismantling the sites and other third party costs cannot be estimated at this time (collectively, these actions comprise the "Plans").

The following table sets forth the components of the Company's restructuring and asset-related charges for the years ended December 31, 2020, 2019 and 2018 (in thousands):


	Years Ended December 31,
	2020		2019		2018
Employee restructuring separation (credit) charges (1)	$	(119)	$	11,121	$	45,118
Asset-related (credit) charges (2)	(536)		12,459		11,295
Total employee and asset-related restructuring (credit) charges	(655)		23,580		56,413
Other employee severance charges (3)	3,053		10,765		—
Total restructuring and other charges	$	2,398	$	34,345	$	56,413

(1)Employee restructuring separation charges include the cost of benefits provided pursuant to the Company's severance programs for employees impacted by the Plans at the Company's Hauppauge, NY, Hayward, CA and other facilities.

(2)For the year ended December 31, 2020, the asset-related credit was primarily associated with the contractual cancellation of an asset retirement obligation related to a lease in Hayward, CA that was terminated during August 2020. For the year ended December 31, 2019, asset-related charges were primarily associated with the impairment of property, plant and equipment and right of use asset in connection with the planned closing of the Company’s Hauppauge, NY facility. For the year ended December 31, 2018, asset-related charges were primarily associated with the write-off of leasehold improvements in connection with the closing of a manufacturing facility in Hayward, CA.

(3)For the years ended December 31, 2020 and 2019, other employee severance charges were primarily associated with the cost of benefits for former executives.

The (credit) charges related to restructuring impacted segment earnings was as follows (in thousands):


	Years Ended December 31,
	2020		2019		2018
Generics	$	(655)	$	20,101	$	33,943
Specialty	—		391		4,076
Corporate	—		3,088		18,394
Total employee and asset-related restructuring (credit) charges	$	(655)	$	23,580	$	56,413

The following table shows the change in the employee separation-related liability associated with the Plans, the entirety of which is included in accounts payable and accrued expenses (in thousands):


	Employee Restructuring
Balance at December 31, 2019	$	3,900
Credit to income	(119)
Payments	(2,189)
Balance at December 31, 2020	$	1,592

Acquisition, Transaction-Related and Integration Expenses

12 Months Ended

Dec. 31, 2020

Business Combinations [Abstract]

Acquisition, Transaction-Related and Integration Expenses

The following table sets forth the components of the Company’s acquisition, transaction-related and integration expenses for the years ended December 31, 2020, 2019 and 2018 (in thousands).


	Years Ended December 31,
	2020		2019		2018
Acquisition, transaction-related and integration expenses (1)	$	8,988	$	16,388	$	35,319
Profit participation units (2)	—		—		158,757
Transaction-related bonus (3)	—		—		27,742
Total	$	8,988	$	16,388	$	221,818

(1)For the year ended December 31, 2020, these expenses were primarily related to professional services fees (e.g., legal, investment banking and consulting) associated with the pending acquisition of a 98% interest in Kashiv Specialty Pharmaceuticals, LLC (see Note 28. Subsequent Events), systems integrations associated with the Combination and integration activities associated with the Acquisitions. For the year ended December 31, 2019, these costs primarily consisted of integration costs. For the year ended December 31, 2018, these costs included professional service fees (e.g., legal, investment banking and accounting), information technology systems conversions, and contract termination/renegotiation costs. For more information, see Note 3. Acquisitions and Divestitures.

(2)Profit Participation Units expense relates to the accelerated vesting of certain of Amneal's profit participation units that occurred prior to the Closing of the Combination for current and former employees of Amneal for service prior to the Combination (see additional information in the paragraph below and Note 22. Stockholders' Equity).

(3)Transaction-related bonus reflects a cash bonus that was funded by Holdings for employees of Amneal for service prior to the closing of the Combination (see additional information in Note 22. Stockholders' Equity).

Accelerated Vesting of Profit Participation Units

Amneal’s historical capital structure included several classifications of membership and profit participation units. During the second quarter of 2018, the Board of Managers of Amneal Pharmaceuticals LLC approved a discretionary modification to certain profit participation units concurrent with the Combination that immediately caused the vesting of all profit participation units that were previously issued to certain current or former employees for service prior to the Combination. The modification entitled the holders to 6,886,140 shares of Class A Common Stock with a fair value of $126 million on the date of the Combination and $33 million of cash. The cash and shares were distributed by Holdings with no additional shares issued by the Company. As a result of this transaction, the Company recorded a charge in acquisition, transaction-related and integration expenses and a corresponding capital contribution of $159 million for the year ended December 31, 2018.

Income taxes

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Income taxes

As a result of the Combination (refer to Note 1. Nature of Operations and Basis of Presentation), the Company became the sole managing member of Amneal, with Amneal being the accounting predecessor for accounting purposes. Amneal is a limited liability company that is treated as a partnership for U.S. federal and most applicable state and local income tax purposes. As a partnership, Amneal is not subject to U.S. federal and certain state and local income taxes. Any taxable income or loss generated by Amneal is passed through to and included in the taxable income or loss of its members, including the Company, on a pro rata basis subject to applicable tax regulations. The Company is subject to U.S. federal income taxes, in addition to state and local income taxes with respect to its allocable share of any taxable income or loss of Amneal, as well as any stand-alone income or loss generated by the Company. Amneal provides for income taxes in the various foreign jurisdictions in which it operates.

In connection with the Combination, the Company recorded a deferred tax asset for its outside basis difference in its investment in Amneal at May 4, 2018. Also, in connection with the Combination, the Company recorded a deferred tax asset related to the net operating loss of Impax from January 1, 2018 through May 4, 2018 as well as certain federal and state credits and interest carryforwards of Impax that were attributable to the Company.

The Company records its valuation allowances against its deferred tax assets (“DTAs”) when it is more likely than not that all or a portion of a DTA will not be realized. The Company routinely evaluates the realizability of its DTAs by assessing the likelihood that its DTAs will be recovered based on all available positive and negative evidence, including scheduled reversals of deferred tax liabilities, estimates of future taxable income, tax planning strategies and results of operations. Estimating future taxable income is inherently uncertain and requires judgment. In projecting future taxable income, the Company considers its historical results and incorporates certain assumptions, including projected new product launches, revenue growth, and operating margins, among others.

A valuation allowance, if needed, reduces DTAs to the amount expected to be realized. When determining the amount of net DTAs that are more likely than not to be realized, the Company assesses all available positive and negative evidence. This evidence includes, but is not limited to, prior earnings history, projected future earnings, carryback and carry-forward periods and the feasibility of ongoing tax strategies that could potentially enhance the likelihood of the realization of a DTA. The weight given to the positive and negative evidence is commensurate with the extent the evidence may be objectively verified. As such, it is generally difficult for positive evidence regarding projected future taxable income to outweigh objective negative evidence of recent financial reporting losses.

The Company established a valuation allowance based upon all available objective and verifiable evidence both positive and negative, including historical levels of pre-tax income (loss) both on a consolidated basis and tax reporting entity basis, legislative developments, expectations and risks associated with estimates of future pre-tax income, and prudent and feasible tax planning strategies. Since first establishing a valuation allowance, the Company has continued to estimate that it has generated a cumulative consolidated three year pre-tax loss through December 31, 2020. As a result of the year-end analysis through December 31, 2020, the Company determined that it is more likely than not that it will not realize the benefits of its gross DTAs and therefore maintained its valuation allowance. As of December 31, 2020, this valuation allowance was $423 million, and it reduced the carrying value of these gross DTAs, net of the impact of the reversal of taxable temporary differences, to zero.

In connection with the Combination, the Company entered into a tax receivable agreement (“TRA”) for which it is generally required to pay the other holders of Amneal Common Units 85% of the applicable tax savings, if any, in U.S. federal and state income tax that it is deemed to realize as a result of certain tax attributes of their Amneal Common Units sold to the Company (or exchanged in a taxable sale) and that are created as a result of (i) the sales of their Amneal Common Units for shares of Class A Common Stock and (ii) tax benefits attributable to payments made under the TRA. In conjunction with the valuation allowance recorded on the DTAs, the Company reversed the accrued TRA liability of $193 million, which resulted in a gain recorded in other income (expense), net for the year ended December 31, 2019. As of December 31, 2020, no additional TRA liability has been accrued.

The timing and amount of any payments under the TRA may vary, depending upon a number of factors including the timing and number of Amneal common units sold or exchanged for the Company's Class A Common Stock, the price of the Company's Class A Common Stock on the date of sale or exchange, the timing and amount of the Company's taxable income, and the tax rate in effect at the time of realization of the Company's taxable income (the TRA liability is determined based on a percentage of the corporate tax savings from the use of the TRA's attributes). Further sales or exchanges occurring subsequent to December 31, 2020 could result in future Amneal tax deductions and obligations to pay 85% of such benefits to the holders of Amneal common units. These obligations could be incremental to and substantially larger than the approximate $206 million contingent liability as of December 31, 2020 described below. Under certain conditions, such as a change of control or other early termination event, the Company could be obligated to make TRA payments in advance of tax benefits being realized.

As noted above, the Company has determined it is more-likely-than-not we will be unable to utilize all of its DTAs subject to TRA; therefore, as of December 31, 2020, the Company has not recognized the contingent liability under the TRA related to the tax savings it may realize from common units sold or exchanged. If utilization of these DTAs becomes more-likely- than-not in the future, at such time, these TRA liabilities (which amounted to approximately $206 million at December 31, 2020, as a result of basis adjustments under Internal Revenue Code Section 754) will be recorded through charges in the Company’s consolidated statements of operations. However, if the tax attributes are not utilized in future years, it is reasonably possible no amounts would be paid under the TRA. Should the Company determine that a DTA with a valuation allowance is realizable in a subsequent period, the related valuation allowance will be released and if a resulting TRA payment is determined to be probable, a corresponding TRA liability will be recorded.

On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act (the "CARES Act"). The CARES Act is an emergency economic stimulus package in response to the COVID-19 pandemic which, among other things, includes provisions relating to income and non-income-based tax laws. Some of the key income tax-related provisions include net operating loss carryback periods, alternative minimum tax credit refunds, modifications to the net interest deduction limitations and technical corrections to tax depreciation methods for qualified improvement property. Some of these tax provisions are effective retroactively for years ending before the date of enactment. Other non-income-based tax provisions include deferral of the employer share of Social Security payroll taxes due from the CARES Act date of enactment through December 31, 2020, and a potential 50% credit on qualified wages against employment taxes each quarter with any excess credits eligible for refunds.

The CARES Act permits net operating loss (“NOL”) carryovers and carrybacks to offset 100% of taxable income for taxable years beginning before 2021. In addition, the CARES Act allows NOLs originating in 2018, 2019, and 2020 to be carried back to each of the five preceding taxable years to generate refunds of previously paid income taxes. As a result of the CARES Act, the Company carried back approximately $345 million in NOLs generated in 2018 to prior taxable income years. In carrying back the 2018 loss to an earlier year, the Company is able to benefit the losses at a 35% tax rate rather than the current U.S. corporate tax rate of 21%. Accordingly, the Company recorded a discrete income tax benefit of $110 million for the year ended December 31, 2020. During July 2020, the Company received a cash refund for $106 million of the $110 million NOL carryback, plus interest of approximately $4 million, with the remainder of the NOL carryback expected to be received before December 31, 2021.

For the years ended December 31, 2020, 2019 and 2018 the Company's (benefit from) provision for income taxes and effective tax rates were $(104) million and 291.7%, $383 million and 174%, and $(1) million and 0.7%, respectively.

The change in income taxes for the year ended December 31, 2020 compared to the prior year was primarily associated with the $110 million benefit from the carryback of U.S. Federal DTAs under the CARES Act described above. The change in income taxes for the year ended December 31, 2019 compared to the prior year period was primarily due to the provision to record the valuation allowance against the Company’s DTAs. The change was also due to the change in the Company's legal structure subsequent to the Combination. Prior to the Combination, as a limited liability company, income taxes were only provided for the international subsidiaries as all domestic taxes flowed to the members. Subsequent to May 4, 2018, domestic income taxes were also provided for the Company's allocable share of income or losses from Amneal at the prevailing U.S. federal, state, and local corporate income tax rates.

The Company and its subsidiaries file income tax returns in the U.S. federal, and various state, local and foreign jurisdictions. The Company is currently under income tax audit for the 2018 tax year by IRS. Impax's federal tax filings for the 2013, 2014, 2015, 2016 and 2017 tax years are currently under audit and these are the only tax years open under the IRS statute of limitations for Impax. If there were adjustments to the attributes of Impax, they could impact the carryforward losses at the Company, which is the successor in interest to Impax. The Amneal partnership was audited for the tax year ended December 31, 2015 without any adjustments to taxable income. Income tax returns are generally subject to examination for a period of three years in the U.S. The statute of limitations for the 2017 and 2018 tax years will, therefore, expire no earlier than 2021 and 2022, respectively. However, the Impax 2013, 2014, 2015 and 2016 tax years remain open to adjustment to the extent of the 2018 NOL carryback as described above. Neither the Company nor any of its other affiliates is currently under audit for state income tax.

The components of the Company's (loss) income before income taxes were as follows (in thousands):


	Years Ended December 31,
	2020		2019		2018
United States	$	(99,966)	$	(291,608)	$	(138,484)
International	64,186		71,366		(64,238)
Total loss before income taxes	$	(35,780)	$	(220,242)	$	(202,722)

The provision for (benefit from) income taxes was comprised of the following (in thousands):


	Years Ended December 31,
	2020		2019		2018
Current:
Domestic	$	(113,754)	$	(2,760)	$	2,299
Foreign	9,396		14,375		5,721
Total current income tax	(104,358)		11,615		8,020
Deferred:
Domestic	—		365,546		(2,967)
Foreign	—		6,170		(6,472)
Total deferred income tax	—		371,716		(9,439)
Total provision for (benefit from) income tax	$	(104,358)	$	383,331	$	(1,419)

The effective tax rate was as follows:


	Years Ended December 31,
	2020		2019		2018
Federal income tax at the statutory rate	21.0	%	21.0	%	21.0	%
State income tax, net of federal benefit	(2.0)	%	(15.1)	%	(1.1)	%
Losses for which no benefit has been recognized	(29.8)	%	(25.8)	%	(12.3)	%
Foreign rate differential	(7.1)	%	(5.5)	%	(6.3)	%
TRA Revaluation	—	%	18.4	%	0.2	%
CARES Act	139.9	%	—	%	—	%
Valuation Allowance	163.2	%	(168.2)	%	—	%
Other	6.5	%	1.2	%	(0.8)	%
Effective income tax rate	291.7	%	(174.0)	%	0.7	%

Prior to the Combination, the provision was primarily due to certain limited liability company entity-level taxes and foreign taxes being recorded for Amneal prior to the Combination. Subsequent to May 4, 2018, federal income taxes were also provided related to the Company’s allocable share of income (losses) from Amneal at the prevailing U.S. federal, state, and local corporate income tax rates. No United States federal income taxes were incurred by the partnership prior to May 4, 2018.

The change in effective income tax rate for the year ended December 31, 2020 compared to the year ended December 31, 2019 was primarily due to the benefit to record the NOL carryback resulting from the CARES Act, and the provision to record the valuation allowance against the Company’s DTAs in 2019.

The change in effective income tax rate for the year ended December 31, 2019 compared to the year ended December 31, 2018 was primarily due to the provision to record the valuation allowance against the Company’s DTAs.

The following table summarizes the changes in the Company's valuation allowance on deferred tax assets (in thousands):


	Years Ended December 31,
	2020		2019		2018
Balance at the beginning of the period	$	470,193	$	41,235	$	41,617
(Decrease) increase due to net operating losses and temporary differences	(54,971)		424,692		(382)
(Decrease) increase recorded against APIC	(1,631)		4,266		—
Increase recorded against OCI	9,221		—		—
Balance at the end of the period	$	422,812	$	470,193	$	41,235

At December 31, 2020, the Company had approximately $161 million of foreign net operating loss carry forwards. These net operating loss carry forwards will partially expire, if unused, between 2023 and 2025. At December 31, 2020, the Company had approximately $215 million of federal and $164 million of state net operating loss carry forwards. The federal net operating losses are generally allowed to be carried forward indefinitely, and the majority of the state net operating losses will expire, if unused, between 2035 and 2040. At December 31, 2020, the Company had approximately $11 million of federal R&D credit carry forwards and $10 million of state R&D credit carry forwards. The majority of the federal R&D credit carry forwards will expire if unused, between 2034 and 2040 and the majority of state credits can be carried forward indefinitely.

The tax effects of temporary differences that give rise to deferred taxes were as follows (in thousands):


	December 31, 2020		December 31, 2019
Deferred tax assets:
Partnership interest in Amneal	$	212,402	$	226,049
Projected imputed interest on TRA	25,539		25,278
Net operating loss carryforward	77,255		119,088
IRC Section 163(j) interest carryforward	45,425		44,978
Capitalized costs	1,502		—
Accrued expenses	410		304
Intangible assets	28,400		31,677
Tax credits and other	31,879		22,819
Total deferred tax assets	422,812		470,193
Valuation allowance	(422,812)		(470,193)
Net deferred tax assets	$	—	$	—

The Company's Indian subsidiaries are primarily export-oriented and in some cases are eligible for certain limited income tax holiday benefits granted by the government of India for export activities conducted within Special Economic Zones, or SEZs, for periods of up to 15 years. Amneal’s SEZ income tax holiday benefits are currently scheduled to expire in whole or in part during the years 2028 to 2030. Indian profits ineligible for SEZ benefits are subject to corporate income tax at the rate of 34.9%. In addition, all Indian profits, including those generated within SEZs, are subject to the Minimum Alternate Tax (MAT), at the rate of 21.5%. The Company established a full valuation allowance against its deferred tax assets in India due to its reliance on intercompany sales for U.S. distribution. For the years ended December 31, 2020, 2019 and 2018, the effect of income tax holidays granted by the Indian government reduced the overall income tax provision and decreased net loss/increased net income by approximately $3 million, $4 million, and $2 million, respectively.

The Company accounts for income tax contingencies using the benefit recognition model. The Company will recognize a benefit if a tax position is more likely than not to be sustained upon audit, based solely on the technical merits. The benefit is measured by determining the amount that is greater than 50% likely of being realized upon settlement, presuming that the tax position is examined by the appropriate taxing authority that has full knowledge of all relevant information. The amount of unrecognized tax benefits at December 31, 2020, 2019, and 2018, was $5 million, $6 million and $7 million, respectively, of which $5 million, $6 million and $7 million would impact the Company’s effective tax rate if recognized. The Company currently does not believe that the total amount of unrecognized tax benefits will increase or decrease significantly over the next 12 months. Interest expense related to income taxes is included in provision for (benefit from) income taxes. Net interest (benefit) expense related to unrecognized tax benefits for the years ended December 31, 2020 and 2019 was $(0.3) million and $0.4 million, respectively. Accrued interest expense as of December 31, 2020, 2019, and 2018 was $0.8 million, $1 million, and $0.6 million, respectively. Income tax penalties are included in provision for (benefit from) income taxes. Accrued tax penalties as of December 31, 2020, 2019 and 2018 were immaterial.

A rollforward of unrecognized tax benefits for the years ended December 31, 2020, 2019 and 2018 is as follows (in thousands):


	Years Ended December 31,
	2020		2019		2018
Unrecognized tax benefits at the beginning of the period	$	6,176	$	7,206	$	—
Gross change for current period positions	125		83		182
Gross change for prior period positions	443		(732)		2,346
Gross change due to Combination	—		—		5,208
Decrease due to expiration of statutes of limitations	—		—		(530)
Decrease due to settlements and payments	(1,376)		(381)		—
Unrecognized tax benefits at the end of the period	$	5,368	$	6,176	$	7,206

In India, the income tax return for fiscal year ending March 31, 2018 is currently being reviewed by tax authorities as part of the normal procedures, and the Company is not expecting any material adjustments. In Switzerland, income tax returns for the periods ended December 31, 2018 are currently being reviewed by the Swiss tax authorities. Amneal is not expecting any

material adjustments. There are no other income tax returns in the process of examination, administrative appeal, or litigation. Income tax returns are generally subject to examination for a period of 3 years, 5 years, 2 years and 4 years after the tax year in India, Switzerland, United Kingdom and Ireland, respectively.

Applicable foreign taxes (including withholding taxes) have not been provided on the approximately $87 million of undistributed earnings of foreign subsidiaries as at December 31, 2020. These earnings have been and currently are considered to be indefinitely reinvested. Quantification of additional taxes that may be payable on distribution is not practicable.

The Company continuously monitors government proposals to make changes to tax laws, including comprehensive tax reform in the United States and proposed legislation in certain foreign jurisdictions resulting from the adoption of the Organization for Economic Cooperation and Development policies. If legislative changes are enacted in other countries, any of these proposals may include increasing or decreasing existing statutory tax rates. A change in statutory tax rates in any country would result in the revaluation of Amneal’s deferred tax assets and liabilities related to that particular jurisdiction in the period in which the new tax law is enacted.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Earnings (Loss) per Share

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Earnings (Loss) per Share

Basic earnings (loss) per share of Class A Common Stock and Class B-1 Common Stock is computed by dividing net earnings (loss) attributable to Amneal Pharmaceuticals, Inc. by the weighted-average number of shares of Class A Common Stock and Class B-1 Common Stock outstanding during the period. Diluted earnings per share of Class A Common Stock and Class B-1 Common Stock is computed by dividing net earnings (loss) attributable to Amneal Pharmaceuticals, Inc. by the weighted-average number of shares of Class A Common Stock and Class B-1 Common Stock outstanding during the period, adjusted to give effect to potentially dilutive securities.

The following table sets forth reconciliations of the numerators and denominators used to compute basic and diluted earnings (loss) per share of Class A Common Stock and Class B-1 Common Stock (in thousands, except per share amounts):


	Years Ended December 31,
	2020		2019		2018
Numerator:
Net income (loss) attributable to Amneal Pharmaceuticals, Inc.	$	91,059	$	(361,917)	$	(20,920)

Denominator:
Weighted-average shares outstanding - basic (1)	147,443		132,106		127,252
Effect of dilutive securities
Stock options	348		—		—
Restricted stock units	1,122		—		—
Weighted-average shares outstanding - diluted	148,913		132,106		127,252
Net earnings (loss) per share attributable to Amneal Pharmaceuticals, Inc.'s common stockholders:
Class A and Class B-1 basic	$	0.62	$	(2.74)	$	(0.16)
Class A and Class B-1 diluted	$	0.61	$	(2.74)	$	(0.16)

(1)During the year ended December 31, 2019, pursuant to the Company's certificate of incorporation, the Company converted all 12.3 million of its issued and outstanding shares of Class B-1 Common Stock to Class A Common Stock and such shares of Class B-1 Common Stock have been retired and may not be reissued by the Company. The weighted-average shares for the year ended December 31, 2020 do not include Class B-1 Common Stock.

The allocation of net income (loss) to the holders of shares of Class A Common Stock and Class B-1 Common Stock began following the closing of the Combination on May 4, 2018. Shares of the Company's Class B Common Stock do not share in the earnings or losses of the Company and, therefore, are not participating securities. As such, separate presentation of basic and diluted earnings (loss) per share of Class B Common Stock under the two-class method has not been presented.

The following table presents potentially dilutive securities excluded from the computations of diluted earnings (loss) per share of Class A Common Stock and Class B-1 Common Stock (in thousands).


	Years Ended December 31,
	2020	2019	2018
Stock options (1)(4)	671	6,177	5,815
Restricted stock units (4)	—	2,478	1,331
Performance stock units (2)(4)	2,973	159	—
Shares of Class B Common Stock (3)	152,117	152,117	171,261

(1)Excluded from the computation of diluted earnings per share of Class A Common Stock for the year ended December 31, 2020 because the exercise price of the stock options exceeded the average market price of the Class A Common Stock during the period (out-of-the-money).

(2)Excluded from the computation of diluted earnings per share of Class A Common Stock for the year ended December 31, 2020 because the performance vesting conditions were not met.

(3)Shares of Class B Common Stock are considered potentially dilutive shares of Class A and Class B-1 Common Stock. Shares of Class B Common Stock have been excluded from the computations of diluted earnings (loss) per share of Class A and Class B-1 Common Stock for each of the years ended December 31, 2020, 2019 and 2018 because the effect of their inclusion would have been anti-dilutive under the if-converted method. As noted above, the weighted-average shares for the year ended December 31, 2020 do not include Class B-1 Common Stock.

(4)Excluded from the computation of diluted loss per share of Class A Common Stock and Class B-1 Common Stock for the years ended December 31, 2019 and 2018 because the effect of their inclusion would have been anti-dilutive since there was a net loss attributable to the Company for the years ended December 31, 2019 and 2018. As noted above, the weighted-average shares for the year ended December 31, 2020 do not include Class B-1 Common Stock.

Trade Accounts Receivable, Net

12 Months Ended

Dec. 31, 2020

Receivables [Abstract]

Trade Accounts Receivable, Net

Trade accounts receivable, net is comprised of the following (in thousands):


	December 31, 2020		December 31, 2019
Gross accounts receivable	$	1,291,785	$	1,470,706
Allowance for doubtful accounts	(1,396)		(2,201)
Contract charge-backs and sales volume allowances	(628,804)		(829,807)
Cash discount allowances	(22,690)		(34,308)
Subtotal	(652,890)		(866,316)
Trade accounts receivable, net	$	638,895	$	604,390

Receivables from customers representing 10% or more of the Company’s gross trade accounts receivable reflected three customers at December 31, 2020, equal to 39%, 26%, and 20%, respectively. Receivables from customers representing 10% or more of the Company’s gross trade accounts receivable reflected three customers at December 31, 2019, equal to 39%, 25%, and 25%, respectively.

Inventories

12 Months Ended

Dec. 31, 2020

Inventory Disclosure [Abstract]

Inventories

Inventories are comprised of the following (in thousands):


	December 31, 2020		December 31, 2019
Raw materials	$	209,180	$	172,159
Work in process	40,937		58,188
Finished goods	240,532		150,720
Total inventories	$	490,649	$	381,067

On September 13, 2019, the FDA announced that ranitidine may potentially contain NDMA, which is classified as a probable human carcinogen. As a precautionary measure, the Company immediately halted shipments of ranitidine-based products and began evaluation of its externally sourced ranitidine active pharmaceutical ingredient. Based on the FDA’s November 1, 2019 statement summarizing their NDMA results to date for numerous ranitidine products on the market, the Company made the decision to conduct a voluntary recall of its ranitidine-based products.

During the year ended December 31, 2019, the Company recorded a charge of $5 million to cost of goods sold in its Generics segment to write-down the net realizable value of its ranitidine-based product inventory to zero.

Leases

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Leases

The majority of the Company's operating and financing lease portfolio consists of corporate offices, manufacturing sites, warehouse space, research and development facilities, land, and manufacturing equipment. The Company's leases have remaining lease terms of 1 year to 24 years (excluding international land easements ranging from 30 – 99 years). Rent expense for the years ended December 31, 2020, 2019 and 2018 was $26 million, $26 million, and $18 million, respectively.

During the years ended December 31, 2020 and 2019, the Company recorded $1 million and $2 million, respectively, in impairment charges associated with operating lease right of use assets. For the year ended December 31, 2020, the impairment charges were associated with the closure of the Blue Bell, PA facility. For the year ended December 31, 2019, the impairment charges were primarily associated with the Company's Hauppauge, NY facility, because the Company’s forecasts did not support recoverability of the assets. For further details, see Note 6. Restructuring and Other Charges.

The components of total lease costs were as follows (in thousands):


	Years Ended December 31,
	2020		2019
Operating lease cost (1)	$	21,664	$	22,544
Finance lease cost:
Amortization of right-of-use assets	4,497		3,468
Interest on lease liabilities	4,773		4,641
Total finance lease cost	9,270		8,109
Total lease cost	$	30,934	$	30,653

(1)Includes variable and short-term lease costs.

Supplemental balance sheet information related to the Company's leases was as follows (in thousands):


Operating leases	December 31, 2020		December 31, 2019
Operating lease right-of-use assets	$	33,947	$	53,344
Operating lease right-of-use assets - related party	24,792		16,528
Total operating lease right-of-use assets	$	58,739	$	69,872

Operating lease liabilities	30,182		$	43,135
Operating lease liabilities - related party	23,049		15,469
Current portion of operating lease liabilities	6,474		11,874
Current portion of operating lease liabilities - related party	2,820		2,547
Total operating lease liabilities	$	62,525	$	73,025

Financing leases
Financing lease right of use assets - related party	$	58,676	$	61,284
Total financing lease right-of-use assets	$	58,676	$	61,284

Financing lease liabilities - related party	$	60,193	$	61,463
Current portion of financing lease liabilities - related party	1,158		1,054
Total financing lease liabilities	$	61,351	$	62,517

In addition to the table above, as of December 31, 2020 and 2019, right of use assets of $10 million and $11 million, short-term lease liabilities of $2 million and $1 million and long-term lease liabilities of $2 million and $4 million, respectively, associated with our financing leases were recorded in other assets, accounts payable and accrued expenses and other long-term liabilities, respectively.

Supplemental cash flow information related to leases was as follows (in thousands):


	Years Ended December 31,
	2020		2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	$	4,773	$	4,272
Operating cash flows from operating leases	18,780		20,122
Financing cash flows from finance leases	2,768		2,256
Non-cash activity:
Right-of-use assets obtained in exchange for new operating lease liabilities	$	3,305	$	4,874

The table below reflects the weighted average remaining lease term and weighted average discount rate for the Company's operating and finance leases:


	December 31, 2020	December 31, 2019
Weighted average remaining lease term - operating leases	6 years	6 years
Weighted average remaining lease term - finance leases	21 years	22 years
Weighted average discount rate - operating leases	7.1%	6.8%
Weighted average discount rate - finance leases	7.1%	7.1%

Maturities of lease liabilities as of December 31, 2020 were as follow (in thousands):


	Operating Leases		Financing Leases
2021	$	13,473	$	5,474
2022	13,402		5,474
2023	13,446		5,474
2024	12,246		5,474
2025	8,961		5,474
Thereafter	16,822		95,335
Total lease payments	78,350		122,705
Less: Imputed interest	(15,825)		(61,354)
Total	$	62,525	$	61,351

Maturities of lease liabilities as of December 31, 2019 were as follows (in thousands):


	Operating Leases		Financing Leases
2020	$	18,970	$	5,474
2021	17,052		5,474
2022	13,426		5,474
2023	11,244		5,474
2024	9,864		5,474
2025	7,143		5,474
Thereafter	12,846		95,792
Total lease payments	90,545		128,636
Less: Imputed interest	(17,520)		(66,119)
Total	$	73,025	$	62,517

For additional information regarding lease transactions with related parties, refer to Note 24. Related Party Transactions.

Leases

The majority of the Company's operating and financing lease portfolio consists of corporate offices, manufacturing sites, warehouse space, research and development facilities, land, and manufacturing equipment. The Company's leases have remaining lease terms of 1 year to 24 years (excluding international land easements ranging from 30 – 99 years). Rent expense for the years ended December 31, 2020, 2019 and 2018 was $26 million, $26 million, and $18 million, respectively.

During the years ended December 31, 2020 and 2019, the Company recorded $1 million and $2 million, respectively, in impairment charges associated with operating lease right of use assets. For the year ended December 31, 2020, the impairment charges were associated with the closure of the Blue Bell, PA facility. For the year ended December 31, 2019, the impairment charges were primarily associated with the Company's Hauppauge, NY facility, because the Company’s forecasts did not support recoverability of the assets. For further details, see Note 6. Restructuring and Other Charges.

The components of total lease costs were as follows (in thousands):


	Years Ended December 31,
	2020		2019
Operating lease cost (1)	$	21,664	$	22,544
Finance lease cost:
Amortization of right-of-use assets	4,497		3,468
Interest on lease liabilities	4,773		4,641
Total finance lease cost	9,270		8,109
Total lease cost	$	30,934	$	30,653

(1)Includes variable and short-term lease costs.

Supplemental balance sheet information related to the Company's leases was as follows (in thousands):


Operating leases	December 31, 2020		December 31, 2019
Operating lease right-of-use assets	$	33,947	$	53,344
Operating lease right-of-use assets - related party	24,792		16,528
Total operating lease right-of-use assets	$	58,739	$	69,872

Operating lease liabilities	30,182		$	43,135
Operating lease liabilities - related party	23,049		15,469
Current portion of operating lease liabilities	6,474		11,874
Current portion of operating lease liabilities - related party	2,820		2,547
Total operating lease liabilities	$	62,525	$	73,025

Financing leases
Financing lease right of use assets - related party	$	58,676	$	61,284
Total financing lease right-of-use assets	$	58,676	$	61,284

Financing lease liabilities - related party	$	60,193	$	61,463
Current portion of financing lease liabilities - related party	1,158		1,054
Total financing lease liabilities	$	61,351	$	62,517

In addition to the table above, as of December 31, 2020 and 2019, right of use assets of $10 million and $11 million, short-term lease liabilities of $2 million and $1 million and long-term lease liabilities of $2 million and $4 million, respectively, associated with our financing leases were recorded in other assets, accounts payable and accrued expenses and other long-term liabilities, respectively.

Supplemental cash flow information related to leases was as follows (in thousands):


	Years Ended December 31,
	2020		2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	$	4,773	$	4,272
Operating cash flows from operating leases	18,780		20,122
Financing cash flows from finance leases	2,768		2,256
Non-cash activity:
Right-of-use assets obtained in exchange for new operating lease liabilities	$	3,305	$	4,874

The table below reflects the weighted average remaining lease term and weighted average discount rate for the Company's operating and finance leases:


	December 31, 2020	December 31, 2019
Weighted average remaining lease term - operating leases	6 years	6 years
Weighted average remaining lease term - finance leases	21 years	22 years
Weighted average discount rate - operating leases	7.1%	6.8%
Weighted average discount rate - finance leases	7.1%	7.1%

Maturities of lease liabilities as of December 31, 2020 were as follow (in thousands):


	Operating Leases		Financing Leases
2021	$	13,473	$	5,474
2022	13,402		5,474
2023	13,446		5,474
2024	12,246		5,474
2025	8,961		5,474
Thereafter	16,822		95,335
Total lease payments	78,350		122,705
Less: Imputed interest	(15,825)		(61,354)
Total	$	62,525	$	61,351

Maturities of lease liabilities as of December 31, 2019 were as follows (in thousands):


	Operating Leases		Financing Leases
2020	$	18,970	$	5,474
2021	17,052		5,474
2022	13,426		5,474
2023	11,244		5,474
2024	9,864		5,474
2025	7,143		5,474
Thereafter	12,846		95,792
Total lease payments	90,545		128,636
Less: Imputed interest	(17,520)		(66,119)
Total	$	73,025	$	62,517

For additional information regarding lease transactions with related parties, refer to Note 24. Related Party Transactions.

Prepaid Expenses and Other Current Assets

12 Months Ended

Dec. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets are comprised of the following (in thousands):


	December 31, 2020		December 31, 2019
Deposits and advances	$	1,696	$	1,123
Prepaid insurance	6,916		3,858
Prepaid regulatory fees	3,565		4,016

Income and other tax receivable	11,882		13,740
Prepaid taxes	5,542		3,255
Other current receivables	17,117		15,996
Other prepaid assets	21,836		28,176
Chargeback receivable (1)	4,913		—
Total prepaid expenses and other current assets	$	73,467	$	70,164

(1)When a sale occurs on a contract item, the difference between the cost paid to the manufacturer by the Company and the contract cost that the end customer has with the manufacturer is rebated back to the Company by the manufacturer. The Company establishes a chargeback (rebate) receivable and a reduction to cost of goods sold in the same period as the related sale.

Property, Plant, and Equipment, Net

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

Property, Plant, and Equipment, Net

Property, plant, and equipment, net was comprised of the following (in thousands):


	December 31, 2020		December 31, 2019
Land	$	4,937	$	4,387
Buildings	210,122		203,424
Leasehold improvements	108,698		103,186
Machinery and equipment	354,599		326,045
Furniture and fixtures	10,992		10,744
Vehicles	1,360		1,330
Computer equipment	47,729		40,523
Construction-in-progress	71,456		64,403
Total property, plant, and equipment	809,893		754,042
Less: Accumulated depreciation	(332,139)		(276,045)
Property, plant, and equipment, net	$	477,754	$	477,997

Depreciation recognized by the Company was as follows (in thousands):


	Year Ended December 31,
	2020		2019		2018
Depreciation	$	60,420	$	63,283	$	64,417

On December 31, 2018, the Company sold real estate and equipment in Hayward, California, for cash consideration, net of costs to sell, of $25 million. The Company recognized a gain on the sale of $0.4 million, which is included in other income (expense).

Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

The changes in goodwill for the years ended December 31, 2020 and 2019 were as follows (in thousands):


	December 31, 2020		December 31, 2019
Balance, beginning of period	$	419,504	$	426,226
Impax acquisition adjustment	—		(1,255)
Goodwill acquired during the period	103,679		—
Goodwill divested during the period	—		(5,175)
Currency translation	(369)		(292)
Balance, end of period	$	522,814	$	419,504

As of December 31, 2020, $361 million, $92 million, and $70 million of goodwill was allocated to the Specialty, Generics, and AvKARE segments, respectively. As of December 31, 2019, $361 million and $59 million of goodwill was allocated to the Specialty and Generics segments, respectively. For the year ended December 31, 2019 goodwill divested was associated with the sale of the Company's operations in the United Kingdom and Germany. For the year ended December 31, 2019 the adjustment to goodwill acquired was associated with the Combination. Refer to Note 3. Acquisitions and Divestitures for additional information about the Acquisitions, the Combination and the divestiture of the Company's operations in the United Kingdom and Germany.

Annual Goodwill Impairment Test

The Company performed a quantitative annual goodwill impairment test for each reporting unit on October 1, 2020, the measurement date. The analysis performed included estimating the fair value of each reporting unit using both the income and market approaches. Based on the results of the annual impairment test, the Company determined that the estimated fair values of the Generics, Specialty and AvKARE reporting units exceeded their respective carrying amounts as of the measurement date; therefore, the Company did not record an impairment charge for the year ended December 31, 2020. There were no indicators of goodwill impairment during the year ended December 31, 2020, including the period subsequent to the measurement date.

In performing the annual goodwill impairment test, the Company utilized long-term growth rates for its reporting units ranging from no growth to 1.0% and discount rates ranging from 8.5% to 13.0% in its estimation of fair value. As of December 31, 2020, the estimated fair value of the Generics reporting unit was in excess of its carrying value by approximately 102%, the estimated fair value of the Specialty reporting unit was in excess of its carrying value by approximately 37% and the estimated fair value of the AvKARE reporting unit was in excess of its carrying value by approximately 48%. A 450-basis point increase in the assumed discount rates utilized in each test would not have resulted in a goodwill impairment charge in any of the Company's reporting units.

While management believes the assumptions used were reasonable and commensurate with the views of a market participant, changes in key assumptions for these reporting units, including increasing the discount rate, lowering forecasts for revenue and operating margin or lowering the long-term growth rate, could result in a future impairment.

Intangible assets were comprised of the following (in thousands):


	December 31, 2020							December 31, 2019
	Weighted- Average Amortization Period (in years)	Cost		Accumulated Amortization		Net		Cost		Accumulated Amortization		Net
Amortizing intangible assets:
Product rights	9.0	$	1,153,096	$	(328,587)	$	824,509	$	1,197,535	$	(198,857)	$	998,678

Other intangible assets	5.7	133,800		(33,078)		100,722		3,000		(1,000)		2,000
Total		1,286,896		(361,665)		925,231		1,200,535		(199,857)		1,000,678
In-process research and development		379,395		—		379,395		382,075		—		382,075
Total intangible assets		$	1,666,291	$	(361,665)	$	1,304,626	$	1,582,610	$	(199,857)	$	1,382,753

For the year ended December 31, 2020, the Company recognized a total of $37 million of intangible asset impairment charges, of which $34 million was recognized in cost of goods sold and $3 million was recognized in in-process research and development.

The impairment charges for the year ended December 31, 2020 were primarily related to six currently marketed products and four in-process research and development (“IPR&D”) products acquired in the Combination. For the currently marketed products, four products experienced significant price erosion during 2020, without an offsetting increase in customer demand, resulting in significantly lower than expected future cash flows and negative margins, one product had its contract terminated and one product's supply agreement ended under an early termination due to market conditions. The IPR&D charges were associated with four products, three of which experienced significant price erosion for the products, resulting in significantly lower than expected future cash flows, and the other of which was canceled due to the withdrawal of the Company's development partner.

For the year ended December 31, 2019, the Company recognized a total of $173 million of intangible asset impairment charges, of which $126 million was recognized in cost of goods sold and $47 million was recognized in in-process research and development.

The impairment charges for the year ended December 31, 2019 were primarily related to thirteen products, six of which are currently marketed products and seven of which are IPR&D products, all acquired as part of the Combination. For five currently marketed products, the impairment charges were the result of significant price erosion during 2019, without an offsetting increase in customer demand, resulting in significantly lower than expected future cash flows. For the remaining currently marketed product, the impairment charge was the result of a strategic decision to discontinue the product. For one IPR&D product, the impairment charge was the result of increased competition at launch resulting in significantly lower than expected future cash flows. For one IPR&D product, the impairment charge was the result of a strategic decision to no longer pursue approval of the product. For the other five IPR&D products, the impairment charges were the result of expected significant price erosion for the products resulting in significantly lower than expected future cash flows.

Amortization expense related to intangible assets recognized was as follows (in thousands):


	Years Ended December 31,
	2020		2019		2018
Amortization	$	174,967	$	143,952	$	72,986

The following table presents future amortization expense for the next five years and thereafter, excluding $379 million of IPR&D intangible assets (in thousands).


	Future Amortization
2021	$	166,688
2022	154,938
2023	143,337
2024	136,887
2025	97,911
Thereafter	225,470
Total	$	925,231

Accounts Payable and Accrued Expenses

12 Months Ended

Dec. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Accounts Payable and Accrued Expenses

Accounts payable and accrued expenses were comprised of the following (in thousands):


	December 31, 2020		December 31, 2019
Accounts payable	$	153,140	$	103,021
Accrued returns allowance	174,984		150,361
Accrued compensation	58,922		36,008
Accrued Medicaid and commercial rebates	131,088		114,960
Accrued royalties	21,777		28,969
Commercial chargebacks and rebates	10,226		10,226
Medicaid reimbursement accrual	—		7,000
Accrued professional fees	11,056		12,312
Taxes payable	5,538		8,729
Accrued other	46,930		35,897
Total accounts payable and accrued expenses	$	613,661	$	507,483

Debt

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Debt

The following is a summary of the Company's total indebtedness (in thousands):


	December 31, 2020		December 31, 2019
Term Loan due May 2025	$	2,631,876	$	2,658,876
Rondo Term Loan due 2025	173,250		—
Other	624		624
Total debt	2,805,750		2,659,500
Less: debt issuance costs	(26,258)		(28,975)
Total debt, net of debt issuance costs	2,779,492		2,630,525
Less: current portion of long-term debt	(44,228)		(21,479)
Total long-term debt, net	$	2,735,264	$	2,609,046

Senior Secured Credit Facilities

On May 4, 2018 the Company entered into a senior credit agreement that provided a term loan ("Term Loan") with a principal amount of $2.7 billion and an asset backed revolving credit facility ("Revolving Credit Facility") under which loans and letters of credit up to a principal amount of $500 million are available (principal amount of up to $25 million is available for letters of credit) (collectively, the "Senior Secured Credit Facilities").

The Term Loan is repayable in equal quarterly installments at a rate of 1.00% of the original principal amount annually, with the balance payable at maturity on May 4, 2025. The Term Loan bears a variable annual interest rate, which is one-month LIBOR plus 3.5% at December 31, 2020. In October 2019, the Company entered into an interest rate lock agreement for a total notional amount of $1.3 billion to hedge part of the Company's interest rate exposure associated with the variability in future cash flows from changes in the one-month LIBOR associated with its Term Loan. For further details, refer to Note 20. Financial Instruments.

In accordance with the Term Loan, the Company was required to calculate the amount of excess cash flows based on its results for the year ended December 31, 2020. As a result, the Company expects to make a payment of $14 million in March 2021 to satisfy the excess cash flow requirements. At December 31, 2019, an excess cash flow payment was not required based on result for the year then ended. In addition, the Term Loan requires regular principal payments of $27 million and per year for the next four years and the balance payable at maturity on May 4, 2025.

The Revolving Credit Facility bears an annual interest rate of one-month LIBOR plus 1.25% at December 31, 2020 and matures on May 4, 2023. The annual interest rate for the Revolving Credit Facility may be reduced or increased by 0.25% based on step-downs and step-ups determined by the average historical excess availability. At December 31, 2020, the Company had no outstanding borrowings and $495 million of availability under the Revolving Credit Facility.

The proceeds from the Term Loan were used to finance, in part, the cost of the Combination and to pay off Amneal’s debt and substantially all of Impax’s debt at the close of the Combination. In connection with the refinancing of the Amneal and Impax debt, the Company recorded a loss on extinguishment of debt of $20 million for the year ended December 31, 2018.

The proceeds of any loans made under the Senior Secured Credit Facilities can be used for capital expenditures, acquisitions, working capital needs and other general purposes, subject to covenants as described below. The Company pays a commitment fee based on the average daily unused amount of the Revolving Credit Facility at a rate based on average historical excess availability, between 0.25% and 0.375% per annum. At December 31, 2020, the Revolving Credit Facility commitment fee rate was 0.375% per annum.

During March 2020, as a precautionary measure to mitigate the uncertainty surrounding overall market liquidity due to the COVID-19 pandemic, the Company borrowed $300 million on the Revolving Credit Facility. As the financial markets stabilized following a period of high volatility due to the COVID-19 pandemic, the Company repaid all borrowings under the Revolving Credit Facility as of June 30, 2020.

The Company incurred costs associated with the Term Loan due May 2025 of $38 million and the Revolving Credit Facility of $5 million, which have been capitalized and are being amortized over the life of the applicable debt agreement to interest expense using the effective interest method. The Term Loan has been recorded in the balance sheet net of issuance costs. Costs associated with the Revolving Credit Facility have been recorded in other assets because there were no borrowings outstanding on the effective date of the Revolving Credit Facility. For each of the years ended December 31, 2020, 2019 and 2018, amortization of deferred financing costs related to the Term Loan, Revolving Credit Facility and historical Amneal debt was $6 million.

The Senior Secured Credit Facilities contain a number of covenants that, among other things, create liens on Amneal's and its subsidiaries' assets. The Senior Secured Credit Facilities contain certain negative covenants that, among other things and subject to certain exceptions, restrict Amneal’s and its subsidiaries' ability to incur additional debt or guarantees, grant liens, make loans, acquisitions or other investments, dispose of assets, merge, dissolve, liquidate or consolidate, pay dividends or other payments on capital stock, make optional payments or modify certain debt instruments, modify certain organizational documents, enter into arrangements that restrict the ability to pay dividends or grant liens, or enter into or consummate transactions with affiliates. The Revolving Credit Facility also includes a financial covenant whereby Amneal must maintain a minimum fixed charge coverage ratio if certain borrowing conditions are met. The Senior Secured Credit Facilities contain customary events of default, subject to certain exceptions. Upon the occurrence of certain events of default, the obligations under the Senior Secured Credit Facilities may be accelerated and the commitments may be terminated. At December 31, 2020, Amneal was in compliance with all covenants.

Acquisition Financing - Revolving Credit and Term Loan Agreement

On January 31, 2020, in connection with the Acquisitions, Rondo Intermediate Holdings, LLC (“Rondo Holdings”), a wholly-owned subsidiary of Rondo, entered into a revolving credit and term loan agreement (“Rondo Credit Facility”) that provided a term loan ("Rondo Term Loan") with a principal amount of $180 million and a revolving credit facility (“Rondo Revolving Credit Facility”) which loans up to a principal amount of $30 million. The Rondo Term Loan is repayable in equal quarterly

installments at a rate of 5.0% of the original principal amount annually, with the balance payable at maturity on January 31, 2025. The Rondo Credit Facility bears a variable annual interest rate, which is one-month LIBOR plus 3.0% at December 31, 2020 and matures on January 31, 2025. The annual interest rate for borrowings under the Rondo Credit Facility may be reduced or increased by 0.25% based on step-downs and step-ups determined by the total net leverage ratio, as defined in that agreement. At December 31, 2020, the Company had no outstanding borrowings under the Rondo Revolving Credit Facility.

A commitment fee based on the average daily unused amount of the Rondo Credit Facility is assessed at a rate based on total net leverage ratio, between 0.25% and 0.50% per annum. At December 31, 2020, the Rondo Credit Facility commitment fee rate was 0.40% per annum.

Costs associated with the Rondo Term Loan of $3 million and the Rondo Credit Facility of $1 million have been capitalized and are being amortized over the life of the applicable debt instrument to interest expense using the effective interest method. The Rondo Term Loan has been recorded in the balance sheet net of issuance costs. Costs associated with the Rondo Revolving Credit Facility have been recorded in other assets. For the year ended December 31, 2020, amortization of deferred financing costs associated with the Rondo Credit Facility was less than $1 million.

The Rondo Credit Facility contains a number of covenants that, among other things, create liens on the equity securities and assets of Rondo Holdings, Rondo, AvKARE, LLC and R&S. The Rondo Credit Facility contains certain negative, affirmative and financial covenants that, among other things, restrict the ability to incur additional debt, grant liens, transact in mergers and acquisitions, make certain investments and payments or engage in certain transactions with affiliates. The Rondo Credit Facility also contains customary events of default. Upon the occurrence of certain events of default, the obligations under the Rondo Credit Facility may be accelerated and/or the interest rate may be increased. At December 31, 2020, Rondo was in compliance with all covenants. The Company is not party to the Rondo Credit Facility and is not a guarantor of any debt incurred thereunder.

The Rondo Term Loan requires principal payments of $9 million per year for the next four years and the balance payable at maturity on January 31, 2025.

Acquisition Financing – Notes Payable-Related Party

On January 31, 2020, the closing date of the Acquisitions, Rondo or its subsidiary, Rondo Top Holdings, LLC, issued the Sellers Notes with a stated aggregate principal amount of $44 million and the Short-Term Sellers Note with a stated principal amount of $1 million. The Sellers Notes are unsecured and accrue interest at a rate of 5% per annum, not compounded, until June 30, 2025. The Sellers Notes are subject to prepayment at the option of Rondo, as the obligor, without premium or penalty. Mandatory payment of the outstanding principal and interest is due on June 30, 2025 if certain financial targets are achieved, the borrowers’ cash flows are sufficient (as defined in the Sellers Notes) and repayment is not prohibited by senior debt. If repayment of all outstanding principal and accrued interest on the Sellers Notes is not made on June 30, 2025, the requirements for repayment are revisited on June 30 of each subsequent year until all principal and accrued interest are satisfied no later than January 31, 2030 or earlier, upon a change in control. The Short-Term Sellers Note is also unsecured and accrues interest at a rate of 1.6% and was paid during February 2021.

In accordance with ASC 805, Business Combinations, all consideration transferred was measured at its acquisition-date fair value. The Sellers Notes were stated at the fair value estimate of $35 million, which was estimated using the Monte-Carlo simulation approach under the option pricing framework. The Short-Term Sellers Note of $1 million was recorded at the stated principal amount of $1 million, which approximates fair value. The $9 million discount on the Sellers Notes will be amortized to interest expense using the effective interest method from January 31, 2020 to June 30, 2025 and the carrying value of the Sellers Notes will accrete to the stated principal amount of $44 million. During the year ended December 31, 2020, amortization of the discount related to the Sellers Notes was $1 million.

The Company is not party to or a guarantor of the Sellers Notes or Short-Term Sellers Notes. The Sellers Notes and the Short-Term Sellers Note are recorded in notes payable-related party within long-term liabilities and notes payable-related party within current liabilities, respectively.

Other Long-Term Liabilities

12 Months Ended

Dec. 31, 2020

Other Liabilities [Abstract]

Other Long-Term Liabilities

Other long-term liabilities were comprised of the following (in thousands):


	December 31, 2020		December 31, 2019
Interest rate swap (1)	$	53,903	$	—
Uncertain tax positions	3,065		5,088
Long-term compensation (2)	20,542		22,735
Financing lease liabilities	2,318		3,869
Other long-term liabilities	5,855		7,891
Total other long-term liabilities	$	85,683	$	39,583

(1) Refer to Note 19. Fair Value Measurements and Note 20. Financial Instruments for information about the Company’s interest rate swap.

(2) Includes $12 million of long-term deferred compensation plan liabilities (refer to Note 19. Fair Value Measurements) and $8 million of long-term employee benefits for the Company’s international employees.

Fair Value Measurements

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Fair Value Measurements

Fair value is the exit price that would be received to sell an asset or paid to transfer a liability. Fair value is a market-based measurement that should be determined using assumptions that market participants would use in pricing an asset or liability. Valuation techniques used to measure fair value should maximize the use of observable inputs and minimize the use of unobservable inputs. To measure fair value, the Company uses the following fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable:



			Level 1 –			Quoted prices in active markets for identical assets or liabilities.

			Level 2 –			Inputs other than Level 1 that are observable for the asset or liability, either directly or indirectly, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data by correlation or other means.

			Level 3 –			Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Value is determined using pricing models, discounted cash flow methodologies, or similar techniques and also includes instruments for which the determination of fair value requires significant judgment or estimation.

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The Company evaluates its financial assets and liabilities subject to fair value measurements on a recurring basis to determine the appropriate level of classification for each reporting period. The following table sets forth the Company’s financial assets and liabilities that were measured at fair value on a recurring basis (in thousands):


	Fair Value Measurement Based on
December 31, 2020	Total		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)


Liabilities
Interest Rate Swap (1)	$	53,903	$	—	$	53,903	$	—
Deferred compensation plan liabilities (2)	$	14,007	$	—	$	14,007	$	—

December 31, 2019
Assets
Interest Rate Swap (1)	$	16,373	$	—	$	16,373	$	—
Liabilities
Deferred compensation plan liabilities (2)	$	18,396	$	—	$	18,396	$	—

(1)The fair value measurement of the Company’s interest rate swap classified within Level 2 of the fair value hierarchy is a model-derived valuation as of a given date in which all significant inputs are observable in active markets including certain financial information and certain assumptions regarding past, present, and future market conditions. Refer to Note 20. Financial Instruments for information about the Company’s interest rate swap.

(2)As of December 31, 2020, deferred compensation plan liabilities of $2 million and $12 million were recorded in current and non-current liabilities, respectively. As of December 31, 2019, deferred compensation plan liabilities of $4 million and $14 million were recorded in current and non-current liabilities, respectively. These liabilities are recorded at the value of the amount owed to the plan participants, with changes in value recognized as compensation expense. The calculation of the deferred compensation plan obligation is derived from observable market data by reference to hypothetical investments selected by the participants.

There were no transfers between levels in the fair value hierarchy during the year ended December 31, 2020.

Assets and Liabilities Not Measured at Fair Value on a Recurring Basis

The carrying amounts of cash, accounts receivable and accounts payable approximate their fair values due to the short-term maturity of these instruments.

The $2.6 billion Term Loan, falls into the Level 2 category within the fair value level hierarchy. The fair value was determined using market data for valuation. The fair value of the Term Loan at December 31, 2020 and December 31, 2019 was approximately $2.6 billion and $2.4 billion, respectively.

The $173 million Rondo Term Loan, entered into on January 31, 2020, falls into the Level 2 category within the fair value level hierarchy. The fair value of the Rondo Term Loan at December 31, 2020 was approximately $172 million.

The Sellers Notes and the Short-Term Sellers Note fall into the Level 2 category within the fair value level hierarchy. At December 31, 2020, the carrying value of the Sellers Notes and the Short-Term Sellers Note of $36 million and $1 million, respectively, approximate their fair values.

Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis

There were no non-recurring fair value measurements during the years ended December 31, 2020 and 2019.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Financial Instruments

12 Months Ended

Dec. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Financial Instruments

The Company uses an interest rate swap to manage its exposure to market risks for changes in interest rates.

Interest Rate Risk

The Company is exposed to interest rate risk on its debt obligations. Interest income earned on cash and cash equivalents may fluctuate as interest rates change; however, due to their relatively short maturities, the Company does not hedge these assets or their investment cash flows and the impact of interest rate risk is not material. The Company's debt obligations consist of variable-rate and fixed-rate debt instruments (for further details, see Note 17. Debt). The Company's primary objective is to achieve the lowest overall cost of funding while managing the variability in cash outflows within an acceptable range. In order to achieve this objective, the Company has entered into an interest rate swap on the Term Loan.

Interest Rate Derivative – Cash Flow Hedge

The interest rate swap involves the periodic exchange of payments without the exchange of underlying principal or notional amounts. In October 2019, the Company entered into an interest rate lock agreement for a total notional amount of $1.3 billion to hedge part of the Company's interest rate exposure associated with the variability in future cash flows from changes in the one-month LIBOR associated with its Term Loan.

As of December 31, 2020, the total loss, net of income taxes, related to the Company’s cash flow hedge was $54 million, of which $27 million was recognized in accumulated other comprehensive loss and $27 million was recognized in non-controlling interests. As of December 31, 2019, the total income, net of income taxes, recognized in accumulated other comprehensive loss, related to the Company's cash flow hedge was $16 million.

A summary of the fair values of derivative instruments in the consolidated balance sheets was as follows (in thousands):

December 31, 2020

December 31, 2019

Derivatives Designated as Hedging Instruments

Balance Sheet
Classification

Fair Value

Balance Sheet
Classification

Fair Value

Variable-to-fixed interest rate swap

Other long-term liabilities

$

53,903

Other assets

$

16,373

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Commitments Commercial Manufacturing, Collaboration, License, and Distribution Agreements The Company continues to seek to enhance its product line and develop a balanced portfolio of differentiated products through product acquisitions and in-licensing. Accordingly, the Company, in certain instances, may be contractually obligated to make potential future development, regulatory, and commercial milestone, royalty and/or profit sharing payments in conjunction with collaborative agreements or acquisitions that the Company has entered into with third parties. The Company has also licensed certain technologies or intellectual property from various third parties. The Company is generally required to make upfront payments as well as other payments upon successful completion of regulatory or sales milestones. The agreements generally permit the Company to terminate the agreement with no significant continuing obligation. The Company could be required to make significant payments pursuant to these arrangements. These payments are contingent upon the occurrence of certain future events and, given the nature of these events, it is unclear when, if ever, the Company may be required to pay such amounts. Further, the timing of any future payment is not reasonably estimable. Certain of these arrangements are with related parties (refer to Note 24. Related Party Transactions). Contingencies Legal Proceedings The Company's legal proceedings are complex, constantly evolving and subject to uncertainty. As such, the Company cannot predict the outcome or impact of the legal proceedings set forth below. Additionally, the Company is subject to legal proceedings that are not set forth below. While the Company believes it has valid claims and/or defenses to the matters described below, the nature of litigation is unpredictable, and the outcome of the following proceedings could include damages, fines, penalties and injunctive or administrative remedies. For any proceedings where losses are probable and reasonably capable of estimation, the Company accrues for a potential loss. When the Company has a probable loss for which a reasonable estimate of the liability is a range of losses and no amount within that range is a better estimate than any other amount, the Company records the loss at the low end of the range. While these accruals have been deemed reasonable by the Company’s management, the assessment process relies heavily on estimates and assumptions that may ultimately prove inaccurate or incomplete. Additionally, unforeseen circumstances or events may lead the Company to subsequently change its estimates and assumptions. Unless otherwise indicated below, the Company is unable at this time to estimate the possible loss or the range of loss, if any, associated with such legal proceedings and claims. The Company currently intends to vigorously prosecute and/or defend these proceedings as appropriate. From time to time, however, the Company may settle or otherwise resolve these matters on terms and conditions that it believes to be in its best interest. For the years ended December 31, 2020 and 2019, the Company recorded net charges of $6 million and $12 million, respectively, for commercial legal proceedings and claims. The Company had total liabilities for legal proceedings and claims of $11 million and $17 million as of December 31, 2020 and 2019, respectively. The ultimate resolution of any or all claims, legal proceedings or investigations could differ materially from our estimate and have a material adverse effect on the Company's results of operations and/or cash flows in any given accounting period, or on the Company's overall financial condition. Additionally, the Company manufactures and derives a portion of its revenue from the sale of pharmaceutical products in the opioid class of drugs and may therefore face claims arising from the regulation and/or consumption of such products. Although the outcome and costs of the asserted and unasserted claims is difficult to predict, based on the information presently known to management, the Company does not currently expect the ultimate liability, if any, for such matters to have a material adverse effect on its business, financial condition, results of operations, or cash flows. Medicaid Reimbursement and Price Reporting Matters The Company is required to provide pricing information to state agencies, including agencies that administer federal Medicaid programs. Certain state agencies have alleged that manufacturers have reported improper pricing information, which allegedly caused them to overpay reimbursement costs. Other agencies have alleged that manufacturers have failed to timely file required reports concerning pricing information. Reserves are periodically established by the Company for any potential claims or settlements of overpayment. The Company intends to vigorously defend against any such claims. The ultimate settlement of any potential liability for such claims may be higher or lower than estimated. Patent Litigation There is substantial litigation in the pharmaceutical, biological, and biotechnology industries with respect to the manufacture, use, and sale of new products which are the subject of conflicting patent and intellectual property claims. One or more patents often cover the brand name products for which the Company is developing generic versions and the Company typically has patent rights covering the Company’s branded products. Under federal law, when a drug developer files an Abbreviated New Drug Application ("ANDA") for a generic drug seeking approval before expiration of a patent which has been listed with the FDA as covering the brand name product, the developer must certify its product will not infringe the listed patent(s) and/or the listed patent is invalid or unenforceable (commonly referred to as a "Paragraph IV" certification). Notices of such certification must be provided to the patent holder, who may file a suit for patent infringement within 45 days of the patent holder’s receipt of such notice. If the patent holder files suit within the 45-day period, the FDA can review and tentatively approve the ANDA, but generally is prevented from granting final marketing approval of the product until a final judgment in the action has been rendered in favor of the generic drug developer, or 30 months from the date the notice was received, whichever is sooner. The Company’s Generics segment is typically subject to patent infringement litigation brought by branded pharmaceutical manufacturers in connection with the Company’s Paragraph IV certifications seeking an order delaying the approval of the Company’s ANDA until expiration of the patent(s) at issue in the litigation. Likewise, the Company’s Specialty segment is currently involved in patent infringement litigation against generic drug manufacturers that have filed Paragraph IV certifications to market their generic drugs prior to expiration of the Company’s patents at issue in the litigation. The uncertainties inherent in patent litigation make the outcome of such litigation difficult to predict. For the Company’s Generics segment, the potential consequences in the event of an unfavorable outcome in such litigation include delaying launch of its generic products until patent expiration. If the Company were to launch its generic product prior to successful resolution of a patent litigation, the Company could be liable for potential damages measured by the profits lost by the branded product manufacturer rather than the profits earned by the Company if it is found to infringe a valid, enforceable patent, or enhanced treble damages in cases of willful infringement. For the Company’s Specialty segment, an unfavorable outcome may significantly accelerate generic competition ahead of expiration of the patents covering the Company’s branded products. All such litigation typically involves significant expense. The Company is generally responsible for all of the patent litigation fees and costs associated with current and future products not covered by its alliance and collaboration agreements. The Company has agreed to share legal expenses with respect to third-party and Company products under the terms of certain of the alliance and collaboration agreements. The Company records the costs of patent litigation as expense in the period when incurred for products it has developed, as well as for products which are the subject of an alliance or collaboration agreement with a third-party. Patent Defense Matter Biogen International GMBH, et al. v. Amneal Pharmaceuticals LLC, et al. (Dimethyl Fumarate) In June 2017, Biogen International GMBH (“Biogen”) filed suit against Amneal and various other generic manufacturers in the United States District Court for the District of Delaware (“D. Del.”) alleging patent infringement based on the filing of ANDAs by Amneal and others for generic alternatives to Biogen’s Tecfidera® (dimethyl fumarate) capsules product (Biogen International GMBH, et al. v. Amneal Pharmaceuticals LLC, et al., No. 1:17-cv-00823-MN). Biogen also filed suit in June 2017 against Mylan Pharmaceuticals Inc. (“Mylan”) in the United States District Court for the Northern District of West Virginia (“N.D. W. Va.”) relating to Mylan’s own ANDA for Tecfidera®. On June 18, 2020, the N.D. W. Va. court issued an order finding the sole Biogen patent at issue invalid. Biogen has appealed the order to the United States Court of Appeals for the Federal Circuit. On September 22, 2020, the D. Del. court entered judgment in favor of defendants (including Amneal), adopting the finding of invalidity made by the N.D. W. Va. court but ordering that claims could be reinstated based on the result of the appeal of the N.D. W. Va. court’s order. Amneal, like Mylan and a number of other generic manufacturers, has now launched its generic dimethyl fumarate capsules product “at-risk,” pending the outcome of Biogen’s appeal of the N.D. W. Va. court’s order before the Federal Circuit. Patent Infringement Matter Impax Laboratories, LLC. v. Zydus Pharmaceuticals USA, Inc. and Cadila Healthcare Ltd. (Rytary ®) On December 21, 2017, Impax filed suit against Zydus Pharmaceuticals USA, Inc. and Cadila Healthcare Ltd. (collectively, "Zydus") in the United States District Court for the District of New Jersey, alleging infringement of U.S. Patent No. 9,089,608, based on the filing of Zydus’s ANDA relating to carbidopa and levodopa extended release capsules, generic to Rytary®. Zydus answered the complaint on April 27, 2018, asserting counterclaims of non-infringement and invalidity of U.S. Pat. Nos. 7,094,427; 8,377,474; 8,454,998; 8,557,283; and 9,089,607. Impax answered Zydus’s counterclaims on June 1, 2018. Zydus filed a motion for judgment on the pleadings regarding its counterclaims. On November 29, 2018, the Court granted Zydus’s motion for judgment as to its counterclaims. A case schedule had been set with trial anticipated in April 2020, which was postponed indefinitely due to the COVID-19 pandemic. The parties thereafter reached a settlement agreement on or about May 15, 2020, and the case has been dismissed. Other Litigation Related to the Company’s Business Opana ER® FTC Matters On February 25, 2014, Impax received a Civil Investigative Demand (“CID”) from the Federal Trade Commission (“FTC”) concerning its investigation into the drug Opana® ER and its generic equivalents. On March 30, 2016, the FTC filed a complaint against Impax, Endo Pharmaceuticals Inc. ("Endo"), and others in the United States District Court for the Eastern District of Pennsylvania, alleging that Impax and Endo violated antitrust laws when they entered into a June 2010 settlement agreement that resolved patent litigation in connection with the submission of Impax’s ANDA for generic original Opana® ER. In October, 2016, the Court granted Impax’s motion to sever, formally terminating the suit against Impax. In January 2017, the FTC filed a Part 3 Administrative Complaint against Impax with similar allegations regarding the 2010 settlement. Following trial, in May 2018, the Administrative Law Judge ruled in favor of Impax and dismissed the Complaint in its entirety. In March 2019, the FTC issued an Opinion & Order reversing the Administrative Law Judge’s decision, and in June 2019, Impax filed a Petition for Review of the FTC’s Opinion & Order with the United States Court of Appeals for the Fifth Circuit. That Petition remains pending. On July 12, 2019, the Company received a CID from the FTC concerning an August 2017 settlement agreement between Impax and Endo, which resolved a subsequent patent infringement and breach of contract dispute between the parties regarding the above-referenced June 2010 settlement agreement related to Opana® ER. The Company cooperated with the FTC regarding the CID. On January 25, 2021, the FTC filed a complaint against Endo, Impax and Amneal in the United States District Court for the District of Columbia, alleging that the 2017 settlement violated antitrust laws. Impax and Amneal believe that they have strong defenses to the FTC’s allegations and intend to vigorously defend the action. Opana ER® Antitrust Litigation From June 2014 to April 2015, a number of complaints styled as class actions on behalf of direct purchasers and indirect purchasers (or end-payors) and several separate individual complaints on behalf of certain direct purchasers (the “opt-out plaintiffs”) of Opana ER® were filed against Endo and Impax. The direct purchaser plaintiffs comprise Value Drug Company and Meijer Inc. The end-payor plaintiffs comprise the Fraternal Order of Police, Miami Lodge 20, Insurance Trust Fund; Wisconsin Masons’ Health Care Fund; Massachusetts Bricklayers; Pennsylvania Employees Benefit Trust Fund; International Union of Operating Engineers, Local 138 Welfare Fund; Louisiana Health Service & Indemnity Company d/b/a Blue Cross and Blue Shield of Louisiana; Kim Mahaffay; and Plumbers & Pipefitters Local 178 Health & Welfare Trust Fund. The opt-out plaintiffs comprise Walgreen Co.; The Kroger Co.; Safeway, Inc.; HEB Grocery Company L.P.; Albertson’s LLC; Rite Aid Corporation; Rite Aid Hdqtrs. Corp.; and CVS Pharmacy, Inc. In December, 2014, the United States Judicial Panel on Multidistrict Litigation (the "JPML") transferred the actions to the United States District Court for the Northern District of Illinois (“N.D. Ill.”) for coordinated pretrial proceedings, as In Re: Opana ER Antitrust Litigation (MDL No. 2580). In each case, the complaints allege that Endo engaged in an anticompetitive scheme by, among other things, entering into an anticompetitive settlement agreement with Impax to delay generic competition of Opana ER® and in violation of state and federal antitrust laws. Plaintiffs seek, among other things, unspecified monetary damages and equitable relief, including disgorgement and restitution. On March 25, 2019, plaintiffs filed motions for class certification and served opening expert reports. Defendants’ oppositions to class certification and rebuttal expert reports were filed and served on August 29, 2019. On November 5, 2019, plaintiffs filed reply briefs in further support of their motions for class certification. On January 17, 2020, defendants filed a motion for leave to file joint surreply briefs in response thereto; plaintiffs filed responses on January 24, 2020. On February 5, 2020, the court granted defendants’ motion for leave, and entered a case schedule to which the parties jointly stipulated, setting a trial date of March 15, 2021, which the multi-district litigation ("MDL") court later re-set for June 7, 2021 in light of COVID-19 pandemic-related delays. On April 15, 2020, defendants filed motions for summary judgment. On August 19, 2020, the MDL court issued a minute entry indicating that it was taking the motions under consideration and would advise the parties if oral argument was needed. The Company believes it has substantial meritorious defenses to the claims asserted with respect to the litigation. However, any adverse outcome could negatively affect the Company and could have a material adverse effect on the Company's results of operations, cash flows and/or overall financial condition. Sergeants Benevolent Association Health & Welfare Fund v. Actavis, PLC, et. al. In August 2015, a complaint styled as a class action was filed against Forest Laboratories (a subsidiary of Actavis plc) and numerous generic drug manufacturers, including Amneal, in the United States District Court for the Southern District of New York involving patent litigation settlement agreements between Forest Laboratories and the generic drug manufacturers concerning generic versions of Forest’s Namenda IR product. The complaint (as amended on February 12, 2016) asserts federal and state antitrust claims on behalf of indirect purchasers, who allege in relevant part that during the class period they indirectly purchased Namenda® IR or its generic equivalents in various states at higher prices than they would have absent the defendants’ allegedly unlawful anticompetitive conduct. Plaintiffs seek, among other things, unspecified monetary damages and equitable relief, including disgorgement and restitution. On September 13, 2016, the Court stayed the indirect purchaser plaintiffs’ claims pending factual development or resolution of claims brought in a separate, related complaint by direct purchasers (in which the Company is not a defendant). On September 10, 2018, the Court lifted the stay, referred the case to the assigned Magistrate Judge for supervision of supplemental, non-duplicative discovery in advance of mediation to be scheduled in 2019. The parties thereafter participated in supplemental discovery, as well as supplemental motion-to-dismiss briefing. On December 26, 2018, the Court granted in part and denied in part motions to dismiss the indirect purchaser plaintiffs’ claims. On January 7, 2019, Amneal, its relevant co-defendants, and the indirect purchaser plaintiffs informed the Magistrate Judge that they had agreed to mediation, which occurred in April 2019. In June 2019, the Company reached a settlement with plaintiffs, subject to Court approval. On September 10, 2019, the Court entered an order preliminarily approving the settlement and indefinitely staying the case as to the settling defendants (including the Company). The amount of the settlement was not material to the Company's consolidated financial statements. Attorney General of the State of Connecticut Interrogatories and Subpoena Duces Tecum On July 14, 2014, Impax received a subpoena from the State of Connecticut Attorney General ("Connecticut AG") concerning its investigation into sales of Impax's generic product, digoxin. According to the Connecticut AG, the investigation concerned whether anyone engaged in a contract, combination or conspiracy in restraint of trade or commerce which had the effect of (i) fixing, controlling or maintaining prices or (ii) allocating or dividing customers or territories relating to the sale of digoxin. Impax cooperated in the investigation and produced documents and information in response to the Subpoena in 2014 and 2015. However, no assurance can be given as to the timing or outcome of this investigation. United States Department of Justice Investigations On November 6, 2014, Impax disclosed that one of its sales representatives received a grand jury subpoena from the Antitrust Division of the United States Department of Justice (the "DOJ"). On March 13, 2015, Impax received a grand jury subpoena from the DOJ requesting the production of information and documents regarding the sales, marketing, and pricing of four generic prescription medications. Impax has cooperated in the investigation and produced documents and information in response to the subpoenas from 2014 to 2016. However, no assurance can be given as to the timing or outcome of the investigation. On April 30, 2018, Impax received a CID from the Civil Division of the DOJ (the "Civil Division"). The CID requests the production of information and documents regarding the pricing and sale of Impax’s pharmaceuticals and interactions with other generic pharmaceutical manufacturers regarding whether generic pharmaceutical manufacturers engaged in market allocation and price-fixing agreements, paid illegal remuneration, and caused false claims to be submitted to the Federal government. Impax has cooperated with the Civil Division’s investigation. However, no assurance can be given as to the timing or outcome of the investigation. Texas State Attorney General Civil Investigative Demand On May 27, 2014, a CID was served on Amneal by the Office of the Attorney General for the state of Texas (the "Texas AG") relating to products distributed by Amneal under a specific Amneal labeler code. Shortly thereafter, Amneal received a second CID with respect to the same products sold by Interpharm Holding, Inc. ("Interpharm"), the assets of which had been acquired by Amneal in June 2008. Amneal completed its production of the direct and indirect sales transaction data in connection with the products at issue and provided this information to the Texas AG in November 2015. In May 2016, the Texas AG delivered two settlement demands to Amneal in connection with alleged overpayments made by the State of Texas for such products under its Medicaid programs. For the Amneal and Interpharm products at issue, the Texas AG’s initial demand was for an aggregate total of $36 million based on $16 million in alleged overpayments. After analyzing the Texas AG’s demand, Amneal raised certain questions regarding the methodology used in the Texas AG’s overpayment calculations, including the fact that the calculations treated all pharmacy claims after 2012 for the products at issue as claims for over-the-counter ("OTC") drugs, even though the products were prescription pharmaceuticals. This had the effect of increasing the alleged overpayment because the dispensing fee for OTC drugs was lower than that for prescription drugs. Therefore, the Texas AG’s calculations were derived by subtracting a lower (and incorrect) OTC dispensing fee from the higher (and correct) prescription dispensing fee. The Texas AG later acknowledged this discrepancy. In March 2019, the Texas AG provided Amneal with a re-calculation of the alleged overpayment. In October 2019, Amneal reached an agreement in principle with the Texas AG to settle the matter. The parties executed a Settlement Agreement and Release as of March 5, 2020, and the matter is now closed. In Re Generic Pharmaceuticals Pricing Antitrust Litigation Since March 2016, multiple putative antitrust class action complaints have been filed on behalf of direct purchasers, indirect purchasers (or end-payors), and indirect resellers, as well as individual complaints on behalf of certain direct and indirect purchasers, and municipalities (the “opt-out plaintiffs”) against manufacturers of generic drugs, including Impax and the Company. The complaints allege a conspiracy to fix, maintain, stabilize, and/or raise prices, rig bids, and allocate markets or customers for various generic drugs in violation of federal and state antitrust and consumer protection laws. Plaintiffs seek unspecified monetary damages and equitable relief, including disgorgement and restitution. The lawsuits have been consolidated in an MDL in the United States District Court for the Eastern District of Pennsylvania (In re Generic Pharmaceuticals Pricing Antitrust Litigation, No. 2724, (E.D. Pa.)). On May 10, 2019, Attorneys General of 43 States and the Commonwealth of Puerto Rico filed a complaint in the United States District Court for the District of Connecticut against various manufacturers and individuals, including the Company, alleging a conspiracy to fix, maintain, stabilize, and/or raise prices, rig bids, and allocate markets or customers for multiple generic drugs. On November 1, 2019, the State Attorneys General filed an Amended Complaint on behalf of 9 additional states and territories. On June 10, 2020, Attorneys General of 46 States, the Commonwealth of Puerto Rico, the Commonwealth of the Northern Mariana Islands, the Territory of Guam, the U.S. Virgin Islands, and the District of Columbia filed a new complaint against various manufacturers and individuals, including the Company, alleging a conspiracy to fix prices, rig bids, and allocate markets or customers for additional generic drugs. Plaintiff States seek unspecified monetary damages and penalties and equitable relief, including disgorgement and restitution. These lawsuits have been incorporated into MDL No. 2724. Fact and document discovery in MDL No. 2724 are proceeding. In July, 2020, the Court ordered certain plaintiffs’ complaints regarding three generic drug products to proceed as bellwether cases, along with the Plaintiff States’ amended complaint. No scheduling order has yet been issued for this matter. The Company believes it has substantial meritorious defenses to the claims asserted with respect to the litigation. However, any adverse outcome could negatively affect the Company and could have a material adverse effect on the Company's results of operations, cash flows and/or overall financial condition. Prescription Opioid Litigation The Company and certain of its affiliates have been named as defendants in various matters filed in state and federal courts relating to the sale of prescription opioid pain relievers. Plaintiffs in these actions include state Attorneys General, county and municipal governments, hospitals, Indian tribes, pension funds, third-party payors and individuals. Plaintiffs seek unspecified monetary damages and other forms of relief based on various causes of action, including negligence, public nuisance, unjust enrichment, and civil conspiracy, as well as alleged violations of the Racketeer Influenced and Corrupt Organizations Act (“RICO”), state and federal controlled substances laws and other statutes. All cases involving the Company also name other manufacturers, distributors and retail pharmacies as defendants, and. there are numerous other cases involving allegations relating to prescription opioid pain relievers against other manufacturers, distributors and retail pharmacies in which the Company and its affiliates are not named. Nearly all cases pending in federal district courts have been consolidated for pre-trial proceedings in a MDL in the United States District Court for the Northern District of Ohio (In re: National Prescription Opiate Litigation, Case No. 17-mdl-2804). As of December 31, 2020, there were approximately 850 cases in the MDL in which the Company or its affiliates have been named as defendants. The Company also is named in approximately 120 state court cases pending in 11 states, including Alabama, Arizona, Arkansas, Florida, Mississippi, Missouri, New Mexico, South Carolina, Utah, Pennsylvania, and West Virginia. The Company has filed motions to dismiss in many of these cases. No trial dates have been set except in New Mexico (tentatively September 2022) and West Virginia (tentatively November 2021); it is not known at this time if the Company will be involved in the West Virginia case trial. The Company believes it has substantial meritorious defenses in these matters and intends to vigorously defend against the claims. However, in light of the inherent uncertainties of civil litigation, the Company is not in a position to predict the likelihood of an unfavorable outcome or provide an estimate of the amount or range of potential loss in the event of an unfavorable outcome in any of these matters, and an adverse outcome could negatively affect the Company and could have a material adverse effect on the Company's results of operations, cash flows and/or overall financial condition. Securities Class Actions On April 17, 2017, New York Hotel Trades Council & Hotel Association of New York City, Inc. Pension Fund filed an amended putative class action complaint in the United States District Court for the Northern District of California against Impax and four former Impax officers alleging violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 (Fleming v. Impax Laboratories Inc., et al., No. 4:16-cv-6557-HSG). Plaintiff alleges that Impax (1) concealed collusion with a competitor to fix the price of the generic drug digoxin; (2) concealed anticipated erosion in the price of generic drug diclofenac; and (3) overstated the value of the generic drug budesonide. In August 2019, the Court granted Impax’s motion to dismiss Plaintiff’s subsequent second amended complaint in its entirety. Plaintiff appealed to the United States Court of Appeals for the Ninth Circuit, and on January 11, 2021 the Ninth Circuit issued an unpublished opinion affirming in part and reversing in part the District Court’s decision. Impax has filed a motion for rehearing with the Ninth Circuit. On December 18, 2019, Cambridge Retirement System filed a putative class action complaint in the Superior Court of New Jersey, Somerset County against the Company and certain current or former officers alleging violations of Sections 11, 12(a)(2) and 15 of the Securities Act of 1933 (Cambridge Retirement System v. Amneal Pharmaceuticals, Inc., et al., No. SOM-L-1701-19). Plaintiffs allege that the May 7, 2018 amended registration statement and prospectus issued in connection with the Amneal/Impax business combination was materially false and/or misleading because it failed to disclose that Amneal allegedly engaged in anticompetitive conduct to fix generic drug prices. Plaintiff filed a motion for class certification on October 30, 2020, and the motion is being briefed. The Company believes it has substantial meritorious defenses to the claims asserted with respect to the litigation. However, any adverse outcome could negatively affect the Company and could have a material adverse effect on the Company's results of operations, cash flows and/or overall financial condition. Teva v. Impax Laboratories, LLC. On February 15, 2017, plaintiffs Teva Pharmaceuticals USA, Inc. and Teva Pharmaceuticals Curacao N.V. ("Teva") filed a Praecipe to Issue Writ of Summons and Writ of Summons in the Philadelphia County Court of Common Pleas against Impax alleging that Impax breached the Strategic Alliance Agreement between the parties by not indemnifying Teva in its two litigations with GlaxoSmithKline LLC regarding Wellbutrin ® XL (and therefore that Impax is liable to Teva for the amounts it paid to settle those litigations). Impax filed a Motion to Disqualify Teva’s counsel related to the matter, and on August 23, 2017, the trial court denied Impax's motion. Following the trial court’s order, Teva filed its complaint. On September 6, 2017, Impax appealed the trial court’s decision to the Pennsylvania Superior Court. On September 20, 2017, the Superior Court stayed the trial court action pending the outcome of Impax’s appeal. On November 2, 2018, the Superior Court affirmed the trial court’s decision. On November 16, 2018, Impax filed an application for reargument with the Superior Court, which was denied on December 28, 2018. On February 13, 2019, the Superior Court remitted the record to the trial court. On February 15, 2019, Impax filed its answer with new matter to Teva’s complaint. On February 19, 2019, the trial court issued a revised case management order providing that, absent any extensions or amendments thereto, discovery was to have closed on July 1, 2019 and the case is expected to be ready for trial by February 3, 2020. On or about March 4, 2019, Teva filed a motion for judgment on the pleadings. Impax filed its answer and brief in opposition to Teva’s motion for judgment on the pleadings on March 25, 2019. On April 4, 2019, the trial court denied Teva’s motion. On April 16, 2019, Impax filed a motion to stay the proceedings and compel Teva to arbitrate the dispute pursuant to an Indemnification Release Agreement negotiated and executed by the parties in 2012. Teva’s opposition to the motion was filed on May 7, 2019. On June 11, 2019, the trial court denied Impax’s motion. On June 24, 2019, Impax noticed its intent to appeal to the Superior Court the trial court’s denial of the motion to compel arbitration, and moved both to stay the trial court proceedings pending that appeal and for an extension of case management deadlines. On July 12, 2019, the trial court denied both motions. On July 24, 2019, Impax moved the Superior Court to stay all trial court proceedings pending the outcome of Impax’s appeal of the trial court’s denial of the motion to compel arbitration and, on August 13, 2019, the Superior Court granted Impax’s motion. Impax filed its opening appellate brief with the Superior Court on September 3, 2019 and Teva filed its response brief on October 3, 2019. In October 2019, the parties reached an agreement in principle to resolve the matter, and in November 2019, the parties executed a settlement agreement and general release. On December 16, 2019, Teva filed with the trial court a praecipe to mark the action settled, discontinued and ended with prejudice. California Wage and Hour Class Action On August 3, 2017, plaintiff Emielou Williams filed a class action complaint in the Superior Court for the State of California in the County of Alameda on behalf of herself and others similarly situated against Impax alleging violation of California Business and Professions Code section 17200 by violating various California wage and hour laws, and seeking, among other things, declaratory judgment, restitution of allegedly unpaid wages, and disgorgement. On October 10, 2017, Impax filed a Demurrer and Motion to Strike Class Allegations. On December 12, 2017, the Court overruled Impax’s Demurrer to Plaintiff’s individual claims. However, it struck all of plaintiff’s class allegations. On March 13, 2018, plaintiff filed her First Amended Complaint once again including the same class allegations. The Company filed a Demurrer and Motion to Strike Class Allegations on April 12, 2018. On September 20, 2018, the Court again struck plaintiff’s class allegations; plaintiff has appealed this most recent order to the California State Court of Appeal. Plaintiff filed her opening appellate brief on February 22, 2019; Impax’s brief in response was filed on April 18, 2019; plaintiff filed her reply brief on May 7, 2019; and Impax filed a surreply on May 22, 2019. The appeal has now been fully submitted on the briefs. On November 8, 2019, the Court of Appeal entered an order agreeing with Impax that the order from which plaintiff appealed was not appealable, and dismissing the appeal (and awarding Impax its costs on appeal). On December 31, 2019, Impax agreed to settle plaintiff’s individual claims for an immaterial amount and with no admission of liability, in exchange for a waiver of costs and an executed request for dismissal with prejudice. The request for dismissal was filed with the Superior Court on January 27, 2020, and the court has now dismissed the matter. United States Department of Justice / Drug Enforcement Administration Subpoenas On July 7, 2017, Amneal Pharmaceuticals of New York, LLC received an administrative subpoena issued by the Long Island, NY District Office of the Drug Enforcement Administration (the “DEA”) requesting information related to compliance with certain recordkeeping and reporting requirements. On or about April 12, 2019 and May 28, 2019, the Company received grand jury subpoenas from the U.S. Attorney’s Office for the Eastern District of New York (the "USAO”) relating to similar topics concerning the Company’s suspicious order monitoring program and its compliance with the Controlled Substances Act. The Company is cooperating with the USAO in responding to the subpoenas and has entered tolling agreements with the USAO through approximately May 12, 2021. It is not possible to determine the exact outcome of these investigations at this time. On March 14, 2019, Amneal received a subpoena (the “Subpoena”) from an Assistant U.S. Attorney (“AUSA”) for the Southern District of Florida. The Subpoena requests information and documents generally related to the marketing, sale, and distribution of oxymorphone. The Company intends to cooperate with the AUSA regarding the Subpoena. However, no assurance can be given as to the timing or outcome of its underlying investigation. Ranitidine Litigation The Company and its affiliates have been named as defendants, along with numerous other pharmaceutical manufacturers, wholesale distributors, and retail pharmacy chains, in In re Zantac/Ranitidine NDMA Litigation (MDL No. 2924), pending in the Southern District of Florida. Plaintiffs allege that defendants failed to disclose and/or concealed the alleged inherent presence of N-Nitrosodimethylamine (or “NDMA”) in brand-name Zantac® or generic ranitidine and the alleged associated risk of cancer. Consolidated groups of (a) personal injury plaintiffs, (b) economic loss/medical monitoring class action plaintiffs, and (c) third-party payor plaintiffs have each filed master complaints against brand and generic pharmaceutical manufacturers, distributors, retailers, and repackagers of ranitidine-containing products. The Company or its affiliates have been named in the three master complaints, and approximately 160 personal injury short form complaints. Amneal Pharmaceuticals, Inc., has been dismissed from the master complaints. On December 31, 2020, the Court dismissed in full the three master complaints against the generic manufacturers, including the Company and its affiliates, with leave to file amended complaints on certain claims relating to manufacturing, storage and transportation. Plaintiffs filed amended complaints on February 8 and February 22, 2021. On November 12, 2020, Amneal Pharmaceuticals LLC was named in a lawsuit filed in state court in Baltimore, Maryland, on behalf of the Mayor and City Council of Baltimore, alleging claims of public nuisance, negligence, and violations of state consumer protection laws against brand and generic manufacturers and store-brand distributors of Zantac®/ranitidine. Plaintiffs seek unspecified compensatory and punitive damages, as well as civil penalties and injunctive relief. Defendants removed the case to federal court, and on January 6, 2021, a conditional transfer order to the MDL was issued. The Company believes it has substantial meritorious defenses to the claims asserted with respect to the litigation. However, in light of the inherent uncertainties of civil litigation, the Company is not in a position to predict the likelihood of an unfavorable outcome or provide an estimate of the amount or range of potential loss in the event of an unfavorable outcome in any of these matters, and an adverse outcome could negatively affect the Company and have a material adverse effect on the Company's results of operations, cash flows and/or overall financial condition. Metformin Litigation Amneal and AvKARE, Inc. are named as defendants, along with numerous other manufacturers, retail pharmacies, and wholesalers, in several putative class action lawsuits pending in the United States District Court for the District of New Jersey (“D.N.J.”), consolidated as In Re Metformin Marketing and Sales Practices Litigation (No. 2:20-cv-02324-MCA-MAH). The lawsuits all allege that defendants made and sold to putative class members generic metformin products that were “adulterated” or “contaminated” with NDMA. An economic loss complaint filed on behalf of consumers and third-party payors who purchased or paid or made reimbursements for metformin, alleges that plaintiffs suffered economic losses in connection with their purchases or reimbursements due to the purported contamination. Medical monitoring class action complaints filed on behalf of consumers who consumed allegedly contaminated metformin allege “cellular damage, genetic harm, and/or are at an increased risk of developing cancer", and seek medical monitoring, including evaluation and treatment. The Company believes it has substantial meritorious defenses to the claims asserted with respect to this matter. However, any adverse outcome could negatively affect the Company and could have a material adverse effect on the Company's results of operations, cash flows and/or overall financial condition. Xyrem® (sodium oxybate) Antitrust LitigationAmneal has been named as a defendant, along with Jazz Pharmaceuticals, Inc. (“Jazz”) and numerous other manufacturers of generic versions of Jazz’s Xyrem® (sodium oxybate), in several putative class action lawsuits filed in the United States District Court for the Northern District of California and the United States District Court for the Southern District of New York, alleging that the generic manufacturers entered into anticompetitive agreements with Jazz in connection with settling patent litigation related to Xyrem®. Plaintiffs seek unspecified monetary damages and penalties as well as equitable relief, including disgorgement and restitution. On December 16, 2020, the JPML transferred the actions to the United States District Court for the Northern District of California for consolidated pretrial proceedings.

Stockholders' Equity

12 Months Ended

Dec. 31, 2020

Equity [Abstract]

Stockholders' Equity

Members' Deficit Prior to the Combination

During 2018, the board of managers of Amneal approved a discretionary modification to the profit participation units to be concurrent with the Combination that caused the vesting of all PPUs that were previously issued to certain current or former employees for service prior to the Combination. The modification entitled the holders to 6.9 million shares of Class A Common Stock with a fair value of $126 million on the date of the Combination and $33 million of cash. In July 2018, Holdings distributed the shares it received in the Redemption to settle the PPUs with no additional shares issued by the Company. Additionally, during 2018, Holdings distributed $28 million of cash bonuses to employees of Amneal for service prior to the Combination. As a result of these transactions, the Company recorded charges aggregating $187 million to acquisition, integration and transaction-related expenses during the year ended December 31, 2018, and corresponding capital contributions of $159 million related to the vesting of the PPUs and $28 million related to the cash bonus in members' accumulated deficit. For more details, see Note 7. Acquisition, Transaction-Related and Integration Expenses. During the year ended December 31, 2018, Amneal made distributions of $183 million to its members.

Pursuant to the BCA, Amneal's units prior to the Combination were canceled and the Amneal Common Units were distributed as discussed in further detail in the paragraph below.

Stockholders' Equity Subsequent to the Combination

Amended Certificate of Incorporation

In connection with the closing of the Combination, on May 4, 2018, the Company amended and restated its certificate of incorporation ("Charter") to, among other things, reflect the change of its name from Atlas Holdings, Inc. to Amneal Pharmaceuticals, Inc. and provide for the authorization of (i) 900 million shares of Class A Common Stock with a par value of $0.01 per share; (ii) 300 million shares of Class B Common Stock with a par value of $0.01 per share; (iii) 18 million shares of Class B-1 Common Stock with a par value of $0.01 per share; and (iv) 2 million shares of undesignated preferred stock with a par value of $0.01 per share.

During the year ended December 31, 2019, pursuant to the Company's certificate of incorporation, the Company converted all 12.3 million of its issued and outstanding shares of Class B-1 Common Stock to Class A Common Stock and such shares of Class B-1 Common Stock have been retired and may not be reissued by the Company.

Voting Rights

Holders of Class A Common Stock and Class B Common Stock are entitled to one vote for each share of stock held, except as required by law. Holders of Class A Common Stock and Class B Common Stock vote together as a single class on each matter submitted to a stockholder vote. Holders of Class A Common Stock and Class B Common Stock are not entitled to vote on any amendment to the Company's Charter that relates solely to the terms of one or more outstanding series of preferred stock if the holders of such affected series are entitled, either separately or together with the holders of one or more other such series, to vote on such terms pursuant to the Company's Charter or law.

Dividend Rights

The holders of Class A Common Stock are entitled to receive dividends, if any, payable in cash, property, or securities of the Company, as may be declared by the Company's board of directors, out of funds legally available for the payment of dividends, subject to any preferential or other rights of the holders of any outstanding shares of preferred stock. The holders of Class B Common Stock will not be entitled to receive any dividends.

Participation Rights

Under the Company's Charter, the holders of Class A Common Stock and Class B Common Stock have no participation rights. However, the Company's Second Amended and Restated Stockholders Agreement dated as of December 31, 2017 (the "Stockholders Agreement") provides that if the Company proposes to issue any securities, other than in certain issuances, Holdings will have the right to purchase its pro rata share of such securities, based on the number of shares of common stock owned by Holdings before such issuance.

Issuance and Restrictions on Company Common Stock

Pursuant to the Third Amended and Restated Limited Liability Company Agreement of Amneal dated May 4, 2018 (the "Limited Liability Company Agreement"), Amneal will issue to the Company an additional Amneal common unit for each additional share of Class A Common Stock issued by the Company. Additionally, pursuant to the Charter, shares of Class B Common Stock will be issued to Holdings and its permitted transferees only to the extent necessary in certain circumstances to maintain a one-to-one ratio between the number of Amneal Common Units and the number of shares of Class B Common Stock held by such members. Shares of Class B Common Stock are transferable only for no consideration to the Company for automatic retirement or in accordance with the Stockholders Agreement and the Limited Liability Company Agreement.

Liquidation Rights

On the liquidation, dissolution or winding-up of the Company, whether voluntary or involuntary, the holders of Class A Common Stock are entitled to share equally in all assets of the Company available for distribution among the stockholders of the Company after payment to all creditors and subject to any preferential or other rights of the holders of any outstanding shares of preferred stock. The holders of Class B Common stock are not entitled to share in such net assets.

Redemption

The Limited Liability Company Agreement provides that holders of Amneal Common Units may, from time to time, require the Company to redeem all or a portion of their interests for newly issued shares of Class A Common Stock on a one-for-one basis. Upon receipt of a redemption request, the Company may, instead, elect to effect an exchange of Amneal Common Units directly with the holder. Additionally, the Company may elect to settle any such redemption or exchange in shares of Class A Common stock or in cash. In the event of a cash settlement, the Company would issue new shares of Class A Common Stock and use the proceeds from the sale of these newly issued shares of Class A Common Stock to fund the cash settlement, which, in effect, limits the amount of the cash payments to the redeeming member. In connection with any redemption, the Company will receive a corresponding number of Amneal Common Units, increasing the Company's total ownership interest in Amneal. Additionally, an equivalent number of shares of Class B Common Stock will be surrendered and canceled.

Preferred Stock

Under the Charter, the Company's Board of Directors has the authority to issue preferred stock and set its rights and preferences. As of December 31, 2020, no preferred stock had been issued.

Common Stock Issued

In connection with the Combination, the Company issued 73.3 million shares of Class A Common Stock to the holders of Impax Common Stock and 225 million shares of Class B Common Stock to Holdings. In connection with the PIPE Investment, Holdings redeemed 46.8 million shares of Class B Common Stock and an equal number of Amneal Common Units for 34.5 million shares of unregistered Class A Common Stock and 12.3 million shares of unregistered Class B-1 Common Stock. In connection with the Redemption, Holdings redeemed an additional 6.9 million shares of Class B Common Stock and an equal number of Amneal Common Units for 6.9 million shares of Class A Common Stock for distribution to members of Holdings to whom PPUs were previously issued. No cash was received by the Company with respect to issuances of common stock. The Combination, the PIPE Investment and the Redemption are more fully described in Note 1. Nature of Operations and Basis of Presentation

Non-Controlling Interests

As discussed in Note 2. Summary of Significant Accounting Policies, the Company consolidates the financial statements of Amneal and its subsidiaries and records non-controlling interests for the portion of Amneal’s economic interests that is not held

by the Company. Non-controlling interests are adjusted for capital transactions that impact the non-publicly held economic interests in Amneal.

Under the terms of the Limited Liability Company Agreement, Amneal is obligated to make tax distributions to its members. For the year ended December 31, 2020, a tax distribution of $3 million was recorded as a reduction of non-controlling interests (none in 2019). As of both December 31, 2020 and 2019, no liability was included in related-party payables for the tax distribution.

During September 2020, the Company made a $3 million payment to the non-controlling interest holders in one of Amneal's non-public subsidiaries to distribute earnings of $1 million and acquire their ownership interests in the non-public subsidiary for $2 million.

During December 2018, the Company acquired the non-controlling interests in one of Amneal's non-public subsidiaries for approximately $3 million. As of December 31, 2018, the Company recorded a $3 million related party payable for this transaction which was paid in full in 2019.

Redeemable Non-Controlling Interest

As discussed in Note 3. Acquisitions and Divestitures, the Company acquired a 65.1% interest in Rondo on January 31, 2020. The sellers of AvKARE, LLC and R&S hold the remaining 34.9% interest as Rondo Class B Units. Beginning on January 1, 2026, the holders of the Rondo Class B Units have the right (“Put Right”) to require the Company to acquire the Rondo Class B Units for a purchase price that is based on a multiple of Rondo’s earnings before income taxes, depreciation, and amortization (EBITDA) if certain financial targets and other conditions are met. Additionally, beginning on January 31, 2020, the Company has the right to acquire the Rondo Class B Units based on the same value and conditions as the Put Right. The Rondo Class B Units are also redeemable by the holders upon a change in control.

Since the redemption of the Rondo Class B Units is outside of the Company's control, the units have been presented outside of stockholders' equity as redeemable non-controlling interests. Upon closing of the Acquisitions on January 31, 2020, the redeemable non-controlling interests were recorded as a component of the fair value of consideration transferred at an estimated fair value of $11 million. The fair value of the redeemable non-controlling interests was estimated using the Monte-Carlo simulation approach under the option pricing framework, which considers the redemption rights of both the Company and the holders of the Rondo Class B Units.

The Company will attribute 34.9% of the net income of Rondo to the redeemable non-controlling interests. The Company will also accrete the redeemable non-controlling interests to redemption value upon an event that makes redemption probable. For the year ended December 31, 2020, a tax distribution of $0.5 million was recorded as a reduction of redeemable non-controlling interests. As of December 31, 2020, there were no amounts due for tax distributions related to redeemable non-controlling interests.

Changes in Accumulated Other Comprehensive Loss by Component (in thousands):


	Foreign currency translation adjustment		Unrealized gain (loss) on cash flow hedge, net of tax		Accumulated other comprehensive loss
Balance December 31, 2018	$	(7,755)	$	—	$	(7,755)
Other comprehensive income before reclassification	(729)		7,764		7,035
Amounts reclassified from accumulated other comprehensive loss	1,461		—		1,461
Reallocation of ownership interests	(809)		—		(809)
Balance December 31, 2019	(7,832)		7,764		(68)
Other comprehensive income before reclassification	(6,643)		(34,560)		(41,203)

Reallocation of ownership interests	(22)		(25)		(47)
Balance December 31, 2020	$	(14,497)	$	(26,821)	$	(41,318)

Stock-Based Compensation

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

Stock-Based Compensation

Amneal Pharmaceuticals, Inc. 2018 Incentive Award Plan

In May 2018, the Company adopted the Amneal Pharmaceuticals, Inc. 2018 Incentive Award Plan ("2018 Plan") under which the Company may grant stock options, restricted stock units and other equity-based awards to employees and non-employee directors providing services to the Company and its subsidiaries. The stock option, RSU and MPRSU award grants are made in accordance with the Company’s 2018 Plan and are subject to forfeiture if the vesting conditions are not met. On May 5, 2020, the stockholders of the Company approved an amendment to the 2018 Plan which authorized an additional 14 million shares of Class A common stock available for issuance under the 2018 Plan.

The aggregate number of shares of Class A Common Stock authorized for issuance pursuant to the Company's 2018 Plan is 37 million shares. As of December 31, 2020, the Company had 22,864,218 shares available for issuance under the 2018 Plan.

Exchanged Impax Options

As a result of the acquisition of Impax, on May 4, 2018, each Impax stock option outstanding immediately prior to the closing of the Combination became fully vested and exchanged for a fully vested and exercisable option to purchase an equal number of shares of Class A Common Stock of the Company with the same exercise price per share as the replaced options and otherwise subject to the same terms and conditions as the replaced options. Consequently, at the Closing, the Company issued 3.0 million fully vested stock options in exchange for the outstanding Impax options.

The Company recognizes the grant date fair value of each option and share of restricted stock unit over its vesting period. Stock options and restricted stock unit awards are granted under the Company’s 2018 Plan and generally vest over a four year period and, in the case of stock options, have a term of 10 years.

The following table summarizes all of the Company's stock option activity for the years ended December 31, 2020, 2019, and 2018:


Stock Options	Number of Shares Under Option	Weighted- Average Exercise Price per Share		Weighted- Average Remaining Contractual Life	Aggregate Intrinsic Value (in millions)
Outstanding at December 31, 2017	—	$	—
Conversion of Impax stock options outstanding on May 4,2018	3,002,669	18.90
Options granted	3,555,808	16.64
Options exercised	(351,668)	10.80
Options forfeited	(392,228)	23.02
Outstanding at December 31, 2018	5,814,581	$	17.73	8.0	$	2.6
Options granted	4,559,820	11.29
Options exercised	(210,806)	6.64
Options forfeited	(3,986,469)	15.07
Outstanding at December 31, 2019	6,177,126	$	8.87	8.2	$	8.0
Options granted	—	—
Options exercised	(116,681)	2.75
Options forfeited	(2,249,216)	16.09
Outstanding at December 31, 2020	3,811,229	$	4.80	7.9	$	5.6
Options exercisable at December 31, 2020	1,806,223	$	7.07	7.7	$	2.0

The intrinsic value of options exercised during the year ended December 31, 2020 was approximately $0.2 million. On November 14, 2019, the Company repriced 3.6 million of outstanding options by reducing the exercise price to $2.75. The repricing resulted in $0.9 million of incremental expense being incurred during 2019.

The following table summarizes all of the Company's restricted stock unit activity for the years ended December 31, 2020, 2019, and 2018:


Restricted Stock Units	Number of Restricted Stock Units	Weighted- Average Grant Date Fair Value		Weighted- Average Remaining Years	Aggregate Intrinsic Value (in millions)
Non-vested at December 31, 2017	—	$	—
Granted	1,421,814	17.28
Vested	—	—
Forfeited	(91,190)	19.19
Non-vested at December 31, 2018	1,330,624	$	17.15	3.3	$	18.0
Granted	3,327,308	11.81
Vested	(479,299)	16.10
Forfeited	(1,541,275)	14.46
Non-vested at December 31, 2019	2,637,358	$	12.16	1.7	$	12.7
Granted	8,414,762	3.67
Vested	(692,868)	12.33
Forfeited	(1,226,700)	6.48
Non-vested at December 31, 2020	9,132,552	$	5.09	1.7	$	41.7

The table above includes 2,977,711 MPRSUs granted to executives during the first quarter of 2020. Vesting of these awards is contingent upon the Company’s achievement of stock price hurdles over the performance period starting March 1, 2020 and requires the employee’s continued employment or service through February 28, 2023. The MPRSUs cliff vest at the end of the three-year period and have a maximum potential to vest at 200% (5,955,422 shares) based on the Company's stock price performance. The related share-based compensation expense is determined based on the estimated fair value of the underlying shares on the date of grant and is recognized straight-line over the vesting term. The estimated fair value per share of the MPRSUs ranged from $2.13 and $3.63 and was calculated using a Monte Carlo simulation model. 2,813,530 of these MPRSUs remain outstanding and unvested at December 31, 2020.

In addition, the table above includes 519,754 MPRSUs granted to executives on March 1, 2019. Vesting of these awards is contingent upon the Company meeting certain total shareholder return ("TSR") levels as compared to a select peer group over the three years starting January 1, 2019 and requires the employee’s continued employment or service through December 31, 2021. The MPRSUs cliff vest at the end of the three-year period and have a maximum potential to vest at 150% (779,631 shares) based on TSR performance. The related share-based compensation expense is determined based on the estimated fair value of the underlying shares on the date of grant and is recognized straight-line over the vesting term. The estimated fair value per share of the MPRSUs was $14.67 and was calculated using a Monte Carlo simulation model. 159,260 of these MPRSUs remained outstanding and unvested at December 31, 2020.

As of December 31, 2020, the Company had total unrecognized stock-based compensation expense of $44 million related to all of its stock-based awards, which is expected to be recognized over a weighted average period of 1.7 years.

The Company estimated the fair value of each stock option award on the grant date using the Black-Scholes option pricing model, wherein expected volatility is based on historical volatility of the publicly traded common stock of a peer group of companies. The expected term calculation is based on the "simplified" method described in SAB No. 107, Share-Based Payment, and SAB No. 110, Share-Based Payment, as the result of the simplified method provides a reasonable estimate in comparison to actual experience. The risk-free interest rate is based on the U.S. Treasury yield at the date of grant for an instrument with a maturity that is commensurate with the expected term of the stock options. The dividend yield of zero is based on the fact that the Company has never paid cash dividends on its common stock, and has no present intention to pay cash dividends. Options granted under each of the above plans generally vest over four years and have a term of 10 years. The following table presents the weighted-average assumptions used in the option pricing model for options granted under the 2018 Plan in the years ended December 31, 2019 and 2018. There were no options granted in the year ended December 31, 2020.


	December 31, 2019			December 31, 2018
Volatility	48.6		%	46.5		%
Risk-free interest rate	2.4		%	2.9		%
Dividend yield	—		%	—		%
Weighted-average expected life (years)	6.17			6.25
Weighted average grant date fair value	$	5.54		$	8.14

The amount of stock-based compensation expense recognized by the Company was as follows (in thousands):


	Year Ended December 31,
	2020		2019		2018
Cost of goods sold	$	4,166	$	3,166	$	921
Selling, general and administrative	13,343		15,729		6,923
Research and development	3,241		2,784		996
Total	$	20,750	$	21,679	$	8,840

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2020
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The Company has various business agreements with certain third-party companies in which there is some common ownership and/or management between those entities, on the one hand, and the Company, on the other hand. The Company has no direct ownership or management in any of such related party companies. The related party relationships that generated income and/or expense and the respective reporting periods are described below. Financing Lease/Financing Obligation - Related Party The Company has a financing lease with LAX Hotel, LLC for two buildings located in Long Island, New York, that are used as an integrated manufacturing and office facility. LAX Hotel, LLC is controlled by a member of the Amneal Group who also serves as observer on our Board of Directors. For annual payments required under the terms of the non-cancelable lease agreement over the next five years and thereafter, refer to Note 12. Leases. Kanan, LLC Kanan, LLC ("Kanan") is a real estate company which owns Amneal’s manufacturing facilities located at 65 Readington Road, Branchburg, New Jersey, 131 Chambers Brook Road, Branchburg, New Jersey and 1 New England Avenue, Piscataway, New Jersey. Certain executive officers of the Company beneficially own, through certain revocable trusts, equity securities of Kanan. In addition, they serve on the management team of Kanan. Amneal leases these facilities from Kanan under two separate triple-net lease agreements that expire in 2027 and 2031, respectively, at an annual rental cost of approximately $2 million combined, subject to CPI rent escalation adjustments as provided in the lease agreements. Rent expense paid to the related party for each of the years ended December 31, 2020, 2019 and 2018 was $2 million. Asana Biosciences, LLC Asana Biosciences, LLC (“Asana”) is an early stage drug discovery and research and development company focusing on several therapeutic areas, including oncology, pain and inflammation. Certain executive officers of the Company beneficially own, directly and through certain revocable or irrevocable trusts for the benefit of their immediate families, outstanding equity securities of Asana. In addition, they serve on the management team of Asana. From time to time, Amneal provides research and development services to Asana under a development and manufacturing agreement. The total amount of income earned from this arrangement for the years ended December 31, 2019 and 2018 was $1 million and $0.2 million, respectively. At December 31, 2019, $1 million was due from Asana. There was no income earned from this arrangement during the year ended December 31, 2020 and there was no amount due from Asana at December 31, 2020. Industrial Real Estate Holdings NY, LLC and Sutaria Family Realty, LLC Industrial Real Estate Holdings NY, LLC ("IRE") is a real estate management entity, which was the sub-landlord of Amneal’s leased manufacturing facility located at 75 Adams Avenue, Hauppauge, New York. IRE is controlled by a member of the Amneal Group who also serves as an observer on our Board of Directors. Effective June 1, 2020, the lease was assigned to the Company with the consent of the landlord, Sutaria Family Realty, LLC., which is also a related party because a member of Company management is a beneficial owner. Concurrently with the assignment of the lease, the Company exercised a renewal option for $0.1 million to extend the lease by 5 years until March 31, 2026. Monthly rent payments are $0.1 million and increase by 3% annually. Rent paid to the related parties for each of the years ended December 31, 2020, 2019 and 2018 was $1 million. Kashiv BioSciences LLC Kashiv BioSciences, LLC ("Kashiv") is an independent contract development organization focused primarily on the development of 505(b)(2) NDA products. Amneal has various business agreements with Kashiv. Certain executive officers of the Company beneficially own, directly and through certain revocable or irrevocable trusts for the benefit of their immediate families, outstanding equity securities of Kashiv. In addition, they serve on the management team of Kashiv. The parties entered into a lease for parking spaces in Piscataway, NJ. The total amount of expense paid to Kashiv from this agreement for each of the years ended December 31, 2020 and 2019 was less than $0.1 million (none in 2018). In May 2013, Amneal, as a sublessor, entered into a sublease agreement with Kashiv for a portion of one of its research and development facilities. The sublease automatically renews annually if not terminated and has an annual base rent of $2 million. On January 15, 2018, Amneal and Kashiv entered into an Assignment and Assumption of Lease Agreement. The lease was assigned to Kashiv, and Amneal was relieved of all obligations. Rental income from this sublease for the years ended December 31, 2018 was $0.4 million (none in 2020 and 2019). Amneal has also entered into various development, commercialization and consulting arrangements with Kashiv to collaborate on the development and commercialization of certain generic pharmaceutical products. The total reimbursable expenses associated with these arrangements for the years ended December 31, 2020 and 2019, respectively, was $0.4 million and $5 million (none for 2018). Kashiv receives a percentage of net profits with respect to Amneal’s sales of these products. The total profit share paid to Kashiv for the years ended December 31, 2020, 2019 and 2018 was $11 million, $4 million and $4 million, respectively. In June 2017, Amneal and Kashiv entered into a product acquisition and royalty stream purchase agreement. The aggregate purchase price was $25 million on the closing, which has been paid, plus two potential future $5 million earn outs related to the Estradiol Product. The contingent earn outs were recorded in the period in which they were earned. The first and second $5 million earn outs were recognized in March 2018 and June 2018, respectively, as an increase to the cost of the Estradiol product intangible asset and amortized on a straight-line basis over the remaining life of the estradiol intangible asset. The first earn out was paid in July 2018 and the second earn out was paid in September 2018. Pursuant to a product development agreement, Amneal and Kashiv agreed to collaborate on the development and commercialization of Oxycodone HCI ER Oral Tablets. Under the agreement, this product is owned by Kashiv, with Amneal acting as the exclusive marketing partner and as Kashiv’s agent for filing the product ANDA. Under the agreement, Amneal was also responsible for assuming control of and managing all aspects of the patent litigation arising from the filing of the ANDA, including selecting counsel and settling such proceeding (subject to Kashiv’s consent). In December 2017, Amneal and Kashiv terminated the product development agreement and pursuant to the termination and settlement of the agreement, Kashiv agreed to pay Amneal $8 million, an amount equal to the legal costs incurred by Amneal related to the defense of the ANDA. The cash payment was received in February 2018. Pursuant to a product development agreement, Amneal and Kashiv agreed to collaborate on the development and commercialization of Levothyroxine Sodium. Under the agreement, the IP and ANDA for this product is owned by Amneal and Kashiv is to receive a profit share for all sales of the product made by Amneal. Amneal is precluded from selling the product made by Kashiv during the term of the license and supply agreement with JSP. Under the terms of the amended agreement with Kashiv, Amneal paid $2 million in July 2019 and may be required to pay up to an additional $18 million upon certain regulatory milestones being met. For each of the years ended December 31, 2020 and 2019, the Company recorded $2 million as research and development expense under this agreement with Kashiv (none in 2018). In November 2019, Amneal and Kashiv entered into a licensing agreement for the development and commercialization of Kashiv’s orphan drug K127 (pyridostigmine) for the treatment of Myasthenia Gravis. Under the terms of the agreement, Kashiv will be responsible for all development and clinical work required to secure Food and Drug Administration approval and Amneal will be responsible for filing the NDA and commercializing the product. The Company made an upfront payment of approximately $2 million to Kashiv in December 2019, which was recorded in research and development, and Kashiv is eligible to receive development and regulatory milestones totaling approximately $17 million. Kashiv is also eligible to receive tiered royalties from the low double-digits to mid-teens on net sales of K127. For each of the years ended December 31, 2020 and 2019, the Company recorded $2 million as research and development expenses to compensate Kashiv for costs incurred to develop the product (none in 2018). On February 20, 2020, the Company and Kashiv entered into a master services agreement covering certain services that Kashiv provides the Company for commercial product support related to EluRyng and other products, including Ranitidine and Nitrofurantoin. For the year ended December 31, 2020, the Company recorded a combined $6 million, (none in 2019 and 2018), to cost of goods sold and research and development to compensate Kashiv for services performed. On October 1, 2017, Amneal and Kashiv entered into a license and commercialization agreement. Kashiv granted Amneal an exclusive license, under its New Drug Application, to distribute and sell two bio-similar products in the U.S. Kashiv is responsible for development, regulatory filings, obtaining FDA approval, and manufacturing, and Amneal is responsible for marketing, selling and pricing activities. The term of the agreement is 10 years from the respective product’s launch date. In connection with the agreement, Amneal paid an upfront amount of $2 million in October 2017 for execution of the agreement which was expensed in research and development. The agreement also provides for potential future milestone payments to Kashiv of (i) up to $21 million relating to regulatory approval, (ii) up to $43 million for successful delivery of commercial launch inventory, (iii) between $20 million and $50 million relating to number of competitors at launch for one product, and (iv) between $15 million and $68 million for the achievement of cumulative net sales for both products. The milestones are subject to certain performance conditions which may or may not be achieved, including FDA filing, FDA approval, launch activities and commercial sales volume objectives. In addition, the agreement provides for Amneal to pay a profit share equal to 50% of net profits, after considering manufacturing and marketing costs. The research and development expenses under this agreement for the year ended December 31, 2020 were $1 million (none in 2019 and 2018). In May 2020, Amneal and Kashiv entered into a product development agreement for the development and commercialization of Posaconazole. Under the agreement, the intellectual property and ANDA for this product is owned by Amneal and Kashiv is to receive a profit share for all sales of the product made by Amneal. In connection with the agreement, Amneal paid an upfront amount of $0.3 million in May 2020 for execution of the agreement which was expensed in research and development. The agreement also provides for potential future milestone payments to Kashiv of (i) up to $0.8 million relating to development milestones, (ii) up to $0.3 million relating to regulatory approval, and (iii) up to $1 million for the achievement of cumulative net sales. The milestones are subject to certain performance conditions which may or may not be achieved, including FDA filing, FDA approval and commercial sales volume objectives. The research and development expenses under this agreement for the year ended December 31, 2020 were $0.7 million (none in 2019 and 2018). In August 2020, Amneal and Kashiv entered into a product development agreement for the development and commercialization of two generic peptide products, Ganirelix Acetate and Cetrorelix acetate. Under the agreement, the intellectual property and ANDA for these products are owned by Amneal and Kashiv is to receive a profit share for all sales of the products made by Amneal. In connection with the agreement, Amneal expensed an upfront amount of $1 million in research and development in August 2020. The agreement also provides for potential future milestone payments to Kashiv of (i) up to $2 million relating to development milestones, and (ii) up to $0.3 million relating to regulatory filings. The milestones are subject to certain performance conditions which may or may not be achieved, including FDA filings. In addition, Amneal is to pay $3 million of development fees to Kashiv as the development work is completed. The research and development expenses under this agreement for the year ended December 31, 2020 was $2 million (none in 2019 and 2018). At December 31, 2020 and 2019, payables of approximately $5 million and $6 million, respectively, were due to the related party for these transactions. Additionally, as of December 31, 2020 and 2019 a receivable of $0.1 million was due from the related party. On January 11, 2021, the Company and Kashiv entered into a definitive agreement under which Amneal will acquire a 98% interest in Kashiv Specialty Pharmaceuticals, LLC, a wholly-owned subsidiary of Kashiv focused on the development of complex generics, innovative drug delivery platforms and novel 505(b)(2) drugs. See Note 28. Subsequent Events for additional information. PharmaSophia, LLC PharmaSophia, LLC ("PharmaSophia") is a joint venture formed by Nava Pharma, LLC ("Nava") and Oakwood Laboratories, LLC for the purpose of developing certain products. Certain executive officers of the Company beneficially own, directly and through certain revocable or irrevocable trusts for the benefit of their immediate families, outstanding equity securities of Nava. Nava beneficially owns 50% of the outstanding equity securities of PharmaSophia. In addition, these executive officers also serve on the management team of Nava. Currently PharmaSophia is actively developing one injectable product. PharmaSophia and Nava are parties to a research and development agreement pursuant to which Nava provides research and development services to PharmaSophia. Nava subcontracted this obligation to Amneal, entering into a subcontract research and development services agreement pursuant to which Amneal provides research and development services to Nava in connection with the products being developed by PharmaSophia. The total amount of income earned from these agreements for the years ended December 31, 2020, 2019 and 2018 was $0.5 million, $1 million and $0.7 million, respectively. At December 31, 2020 and 2019 receivables of $0.8 million and $0.7 million, respectively, were due from the related party. Additionally, as of December 31, 2019, a payable of less than $0.1 million was due from the related party. Gemini Laboratories, LLC Prior to the Company's acquisition of Gemini in May 2018 as described in Note 3. Acquisitions and Divestitures, Amneal and Gemini were parties to various agreements. Total gross profit earned from the sale of inventory to Gemini for the year ended December 31, 2018 (through the acquisition date), was $0.1 million. As part of the Company's 2018 acquisition of Gemini, the Company had an unsecured promissory note payable of $77 million owed to the sellers of Gemini. On November 7, 2018, the Company paid the note payable in full and the related $1 million of interest incurred. During September 2020, the Company paid $3 million to Gemini’s non-controlling interest holders, of which $2 million was to acquire their remaining 2% equity interests and $1 million to distribute earnings. Refer to Note 22. Stockholders’ Equity, for further details. Fosun International Limited Fosun International Limited (“Fosun”) is a Chinese international conglomerate and investment company that is a shareholder of the Company. On June 6, 2019, the Company entered into a license and supply agreement with a subsidiary of Fosun, which is a Chinese pharmaceutical company. Under the terms of the agreement, the Company will hold the imported drug license required for pharmaceutical products manufactured outside of China and will supply Fosun with finished, packaged products for Fosun to then sell in the China market. Fosun will be responsible for obtaining regulatory approval in China and for shipping the product from Amneal’s facility to Fosun’s customers in China. In consideration for access to the Company's U.S. regulatory filings to support its China regulatory filings and for the supply of product, Fosun paid the Company a $1 million non-refundable fee, net of tax, in July 2019 and will be required to pay the Company $0.3 million for each of 8 products upon the first commercial sale of each in China in addition to a supply price and a profit share. The Company did not recognize any revenue from this agreement in the years ended December 31, 2020, 2019 and 2018. Apace KY, LLC d/b/a Apace Packaging LLC Apace KY, LLC d/b/a Apace Packaging LLC (“Apace”) provides packaging solutions pursuant to an exclusive packaging agreement. Apace markets its services which include bottling and blistering for the pharmaceutical industry. A member of Company management beneficially owns outstanding equity securities of Apace. The total amount of expenses from this arrangement for the year ended December 31, 2020 was $12 million (none in 2019 and 2018). At December 31, 2020, payables of $1 million were due to the related party for packaging services. Additionally, at December 31, 2020, a receivable of $0.5 million was due from the related party relating to a product recall. Tracy Properties LLC R&S leases operating facilities, office and warehouse space from Tracy Properties LLC ("Tracy"). A member of Company management beneficially owns outstanding equity securities of Tracy. The total amount of expenses from this arrangement for the year ended December 31, 2020 was $0.5 million (none in 2019 and 2018). AzaTech Pharma LLC R&S purchases inventory from AzaTech Pharma LLC ("AzaTech") for resale. A member of Company management beneficially owns outstanding equity securities of AzaTech. The total amount of purchases from this arrangement for the year ended December 31, 2020 was $5 million (none in 2019 and 2018). At December 31, 2020, payables of approximately $1 million were due to the related party for inventory purchases. AvPROP, LLC AvKARE LLC leases its operating facilities from AvPROP, LLC ("AvPROP"). A member of Company management beneficially owns outstanding equity securities of AvPROP. Rent expense from this arrangement for the year ended December 31, 2020 was $0.1 million (none in 2019 and 2018). Tarsadia Investments, LLC Tarsadia Investments, LLC (“Tarsadia”) is a private investment firm that provides financial services and is a significant shareholder of the Company. A member of Amneal Group, and an observer to the Board, is the Chairman and Founder of Tarsadia Investments. Another member of the Amneal Group, and a member of the Board, is a Managing Director of Tarsadia Investments. Tarsadia offers capital and strategic support for companies with substantial growth potential primarily in the healthcare, financial services, real estate, and clean technology sectors. The Company entered into an agreement in which Tarsadia will provide financial consulting services. The services are not expected to have a material impact to the Company’s financial statements. Avtar Investments, LLC Avtar Investments, LLC ("Avtar") is a private investment firm. Members of Company management beneficially own, directly and through certain revocable or irrevocable trusts for the benefit of their immediate families, outstanding equity securities of Avtar. During April 2020, the Company entered into an agreement in which Avtar will provide consulting services. The total amount of consulting expense incurred for the year ended December 31, 2020 was $1 million (none in 2019 and 2018). As of December 31, 2020, less than $0.1 million was due to Avtar. Zep Inc. Zep Inc. ("Zep") is a producer, and distributor of maintenance and cleaning solutions for retail, food & beverage, industrial & institutional, and vehicle care customers. An executive officer of the Company serves as a director of Zep. During May 2020, AvKARE entered into an agreement to supply cleaning products to Zep. The amount of revenue recorded for the year ended December 31, 2020 was $0.6 million (none in 2019 and 2018). As of December 31, 2020, $0.1 million was recorded in related party receivables. Tax Distributions Under the terms of the Limited Liability Company Agreement, Amneal is obligated to make tax distributions to its members, which are also holders of non-controlling interests in the Company. For further details, refer to Note 22. Stockholders' Equity. Additionally, under the terms of the limited liability company agreement between the Company and the holders of the Rondo Class B Units, Rondo is obligated to make tax distributions to those holders, subject to certain limitations as defined in the Rondo Credit Facility. For further details, refer to Note 22. Stockholders' Equity. Notes Payable – Related Party The sellers of AvKARE, LLC and R&S hold the remaining 34.9% interest in Rondo (“Rondo Class B Units”). Certain holders of the Rondo Class B Units are also holders of the Sellers Notes and the Short-Term Sellers Note. For additional information, refer to Note 17. Debt.

Employee Benefit Plans	12 Months Ended
Employee Benefit Plans	Dec. 31, 2020
Retirement Benefits [Abstract]
Employee Benefit Plans	Employee Benefit Plans The Company has voluntary defined contribution plans covering eligible employees in the United States which provide for a Company match. For the years ended December 31, 2020, 2019 and 2018, the Company made matching contributions of $8 million, $7 million and $7 million, respectively. The Company also has a deferred compensation plan for certain former executives and employees of Impax, some of whom are currently employed by the Company. In January 2019, the Company announced that it will no longer accept contributions from employees or make matching contributions for the deferred compensation plan. Deferred compensation liabilities are recorded at the value of the amount owed to the plan participants, with changes in value recognized as compensation expense. The calculation of the deferred compensation plan obligation is derived by reference to hypothetical investments selected by the participants and is included in accounts payable and accrued expenses and other long-term liabilities.

- Definition

The entire disclosure for retirement benefits.

+ References

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+ Details

Segment Information

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Segment Information

As a result of the Acquisitions, the Company added a third reportable segment, AvKARE, to its existing Generics and Specialty reportable segments. Generics develops, manufactures and commercializes complex oral solids, injectables, ophthalmics, liquids, topicals, softgels, inhalation products and transdermals across a broad range of therapeutic categories. The Company's retail and institutional portfolio contains approximately 250 product families, many of which represent difficult-to-manufacture products or products that have a high barrier-to-entry, such as oncologics, anti-infectives and supportive care products for healthcare providers.

Specialty delivers proprietary medicines to the U.S. market. The Company offers a growing portfolio in core therapeutic categories including central nervous system disorders, endocrinology, parasitic infections and other therapeutic areas. The Company's specialty products are marketed through skilled specialty sales and marketing teams, who call on neurologists, movement disorder specialists, endocrinologists and primary care physicians in key markets throughout the U.S. Specialty also has a number of product candidates that are in varying stages of development.

AvKARE provides pharmaceuticals, medical and surgical products and services primarily to governmental agencies, primarily focused on serving the Department of Defense and the Department of Veterans Affairs. AvKARE is also a wholesale distributor of bottle and unit dose pharmaceuticals under the registered names of AvKARE and AvPAK, as well as medical and surgical products. In addition, AvKARE is a packager and wholesale distributor of pharmaceuticals and vitamins to its retail and institutional customers who are located throughout the United States focused primarily on offering 340b-qualified entities products to provide consistency in care and pricing.

The Company’s chief operating decision maker evaluates the financial performance of the Company’s segments based upon segment operating income (loss). Items below operating income (loss) are not reported by segment, since they are excluded from the measure of segment profitability reviewed by the Company’s chief operating decision maker. Additionally, general and administrative expenses, certain selling expenses, certain litigation settlements, and non-operating income and expenses are included in "Corporate and Other." The Company does not report balance sheet information by segment since it is not reviewed by the Company’s chief operating decision maker.

The tables below present segment information reconciled to total Company financial results, with segment operating income or loss including gross profit less direct selling expenses, research and development expenses, and other operating expenses to the extent specifically identified by segment (in thousands):


Year Ended December 31, 2020	Generics (1)(2)		Specialty (2)		AvKARE (1)		Corporate and Other		Total Company
Net revenue	$	1,343,210	$	355,567	$	293,746	$	—	$	1,992,523
Cost of goods sold	894,422		192,910		242,219		—		1,329,551
Cost of goods sold impairment charges	34,579		—		—		—		34,579
Gross profit	414,209		162,657		51,527		—		628,393
Selling, general and administrative	56,134		75,917		58,544		136,132		326,727
Research and development	150,068		29,862		—		—		179,930
In-process research and development impairment charges	2,680		—		—		—		2,680
Acquisition, transaction-related and integration expenses	328		85		641		7,934		8,988
Restructuring and other (credit) charges	(614)		—		—		3,012		2,398
Charges related to legal matters, net	5,610		250		—		—		5,860
Intellectual property legal development expenses	10,647		8		—		—		10,655
Operating income (loss)	$	189,356	$	56,535	$	(7,658)	$	(147,078)	$	91,155


Year Ended December 31, 2019	Generics (2)		Specialty (2)		Corporate and Other		Total Company
Net revenue	$	1,308,843	$	317,530	$	—	$	1,626,373
Cost of goods sold	984,782		162,432		—		1,147,214
Cost of goods sold impairment charges	119,145		7,017		—		126,162
Gross profit	204,916		148,081		—		352,997
Selling, general and administrative	68,883		79,665		141,050		289,598
Research and development	172,196		15,853		—		188,049
In-process research and development impairment charges	46,619		—		—		46,619
Acquisition, transaction-related and integration expenses	4,633		8,346		3,409		16,388
Restructuring and other (credit) charges	20,101		391		13,853		34,345
Charges related to legal matters, net	12,442		—		—		12,442
Intellectual property legal development expenses	13,193		1,045		—		14,238
Operating (loss) income	$	(133,151)	$	42,781	$	(158,312)	$	(248,682)

(1)Operating results for the sale of Amneal products by AvKARE are included in Generics.

(2)During the three months ended September 30, 2019, operating results for Oxymorphone were reclassified from Generics to Specialty, where it is sold as a non-promoted product. Prior period results have not been restated to reflect the reclassification.


Year Ended December 31, 2018	Generics		Specialty		Corporate and Other		Total Company
Net revenue	$	1,439,031	$	223,960	$	—	$	1,662,991
Cost of goods sold	835,181		103,592		—		938,773
Cost of goods sold impairment charges	7,815		—		—		7,815
Gross profit	596,035		120,368		—		716,403
Selling, general and administrative	68,426		49,465		109,955		227,846
Research and development	183,412		10,778		—		194,190
In-process research and development impairment charges	39,259		—		—		39,259
Acquisition, transaction-related and integration expenses	114,622		—		107,196		221,818
Restructuring and other (credit) charges	33,943		4,076		18,394		56,413
(Gains) charges related to legal matters, net	(22,300)		—		2,589		(19,711)
Intellectual property legal development expenses	15,772		489		—		16,261
Operating income (loss)	$	162,901	$	55,560	$	(238,134)	$	(19,673)

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Other Assets

12 Months Ended

Dec. 31, 2020

Other Assets [Abstract]

Other Assets

Other assets are comprised of the following (in thousands):


	December 31, 2020		December 31, 2019
Deferred Revolving Credit Facility costs	$	2,648	$	3,099
Security deposits	2,240		1,938
Long-term prepaid expenses	10,598		6,438
Interest rate swap	—		16,373
ROU assets - financing leases	9,541		11,442
Other long-term assets	6,858		4,980
Total	$	31,885	$	44,270

Subsequent Event	12 Months Ended
Subsequent Event	Dec. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On January 11, 2021, the Company and Kashiv (a related party, see Note 24. Related Party Transactions) entered into a definitive agreement under which Amneal will acquire a 98% interest in Kashiv Specialty Pharmaceuticals, LLC (“KSP”), a wholly-owned subsidiary of Kashiv focused on the development of complex generics, innovative drug delivery platforms and novel 505(b)(2) drugs. Under the terms of the transaction, which will be accounted for as a business combination, Amneal will pay an upfront purchase price comprised of: (i) a cash payment of $70 million at the closing of the Acquisition, which is subject to certain customary purchase price adjustments; and (ii) a cash payment of $30 million at the one-year anniversary of the execution of the purchase agreement. Kashiv is also eligible to receive up to an additional $8 million in contingent payments upon the achievement of certain regulatory milestones. In addition to the foregoing contingent payments, the Company will pay Kashiv certain royalty payments equal to an escalating percentage (from high single-digits to mid double-digits, depending on the net sales amount) of aggregate annual net sales for certain pharmaceutical products. The transaction will be funded with cash on hand and is expected to close in the first half of 2021. On February 12, 2021, the Board of Directors approved amendments to the Amended and Restated Bylaws of the Company to retire shares of Class B-1 Common Stock. Such shares may not be reissued by the Company.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Accounting Principles

The financial statements and accompanying notes are prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). All intercompany accounts and transactions have been eliminated.

Principles of Consolidation

Although the Company has a minority economic interest in Amneal, it is Amneal’s sole managing member, having the sole voting power to make all of Amneal’s business decisions and control its management. Therefore, the Company consolidates the financial statements of Amneal and its subsidiaries. The Company’s consolidated financial statements are a continuation of Amneal’s financial statements, with adjustments to equity to reflect the Combination, the PIPE Investment and non-controlling interests for the portion of Amneal’s economic interests that is not held by the Company. Prior to the closing of the Combination and PIPE Investment, the Company did not conduct any activities other than those incidental to the formation of it and Merger Sub and the matters contemplated by the BCA and had no operations and no material assets or liabilities. Results for the year ended December 31, 2018 include the impact of the Combination from May 4, 2018 to December 31, 2018.

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires the Company's management to make estimates and assumptions that affect the reported financial position at the date of the financial statements and the reported results of operations during the reporting period. Such estimates and assumptions affect the reported amounts of assets, liabilities, revenues and expenses, and disclosure of contingent assets and liabilities in the consolidated financial statements and accompanying notes. The following are some, but not all, of such estimates: the determination of chargebacks, sales returns, rebates, billbacks, valuation of intangible and other assets acquired in business combinations, allowances for accounts receivable, accrued liabilities, stock-based compensation, valuation of inventory balances, the determination of useful lives for product rights and the assessment of expected cash flows used in evaluating goodwill and other long-lived assets for impairment. Actual results could differ from those estimates.

Revenue Recognition

On January 1, 2018, the Company adopted Accounting Standards Update ("ASU") 2014-9, Revenue from Contracts with Customers and associated ASUs (collectively "Topic 606"), which sets forth a new five-step revenue recognition model which replaces the prior revenue recognition guidance in its entirety and is intended to eliminate numerous industry-specific sections of revenue recognition guidance that have historically existed.

When assessing its revenue recognition, the Company performs the following five steps in accordance with Topic 606: (i) identify the contract with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the entity satisfies the performance obligation. The Company recognizes revenue when it transfers control of its products to customers, in an amount that reflects the consideration to which the Company expects to be entitled to receive in exchange for those products. For further details on the Company’s revenue recognition policies under Topic 606, refer to Note 4. Revenue Recognition.

Stock-Based Compensation

The Company’s stock-based compensation consists of stock options, restricted stock units ("RSUs") and market performance-based restricted stock units (“MPRSUs”) awarded to employees and non-employee directors. Stock options are measured at their fair value on the grant date or date of modification, as applicable. RSUs, including MPRSUs, are measured at the stock price on the grant date or date of modification, as applicable. The Company recognizes compensation expense on a straight-line basis over the requisite service and/or performance period, as applicable. Forfeitures of awards are accounted for as a reduction in stock-based compensation expense in the period such awards are forfeited. The Company's policy is to issue new shares upon option exercises and the vesting of RSUs and MPRSUs.

Foreign Currencies

The Company has operations in the U.S., India, Ireland, and other international jurisdictions. The results of its non-U.S. dollar based operations are translated to U.S. Dollars at the average exchange rates during the period. Assets and liabilities are translated at the rate of exchange prevailing on the balance sheet date. Investment accounts are translated at historical exchange rates. Translation adjustments are accumulated in a separate component of stockholders’/members’ deficit in the consolidated balance sheet and are included in the determination of comprehensive income. Transaction gains and losses are included in the determination of net income (loss) in the Company consolidated statements of operations as a component of foreign exchange gains and losses. Such foreign currency transaction gains and losses include fluctuations related to long term intercompany loans that are payable in the foreseeable future.

Business Combinations

Business combinations are accounted for using the acquisition method of accounting. Under the acquisition method, the acquiring entity in a business combination records the assets acquired and liabilities assumed at the date of acquisition at their fair values. Any excess of the purchase price over the fair value of net assets and other identifiable intangible assets acquired is recorded as goodwill. Acquisition-related costs, primarily professional fees, are expensed as incurred.

Cash and Cash Equivalents

Cash and cash equivalents consist of cash on deposit and highly liquid investments with original maturities of three months or less. A portion of the Company’s cash flows are derived outside the U.S. As a result, the Company is subject to market risk associated with changes in foreign exchange rates. The Company maintains cash balances at both U.S.-based and foreign-based commercial banks. At various times during the year, cash balances in the U.S. may exceed amounts that are insured by the Federal Deposit Insurance Corporation.

Restricted Cash

At December 31, 2020 and 2019, respectively, the Company had restricted cash balances of $6 million and $2 million in its bank accounts primarily related to the purchase of certain land and equipment.

Accounts Receivable and Allowance for Doubtful Accounts

Trade accounts receivable are recorded at the invoiced amount and do not bear interest. The Company limits its credit risk with respect to accounts receivable by performing credit evaluations when deemed necessary. The Company does not require collateral to secure amounts owed to it by its customers.

Trade accounts receivable are stated at their net realizable value. The allowance for doubtful accounts reflects the best estimate of expected credit losses of the accounts receivable portfolio determined on the basis of historical experience, current information, and forecasts of future economic conditions. The Company determines its allowance methodology by pooling receivable balances at the customer level. We consider various factors, including the Company’s previous loss history, individual credit risk associated to each customer, and the current and future condition of the general economy. These credit risk factors are monitored on a quarterly basis and updated as necessary. To the extent that any individual debtor is identified whose credit quality has deteriorated, the Company establishes allowances based on the individual risk characteristics of such customer. The Company makes concerted efforts to collect all outstanding balances due from customers; however, account balances are charged off against the allowance when management believes it is probable the receivable will not be recovered. The Company does not have any off-balance-sheet credit exposure related to customers.

Chargebacks Received From Manufacturers

Chargebacks Received from ManufacturersWhen a sale occurs on a contracted item, the difference between the cost the Company pays to the manufacturer of that item and the contract price that the end customer has with the manufacturer is rebated to the Company by the manufacturer as a chargeback. Chargebacks are recorded as a reduction to cost of sales and either a reduction in the amount due to the manufacturer (if there is a right of offset) or as a receivable from the manufacturer.

Inventories

Inventories consist of finished goods held for sale, raw materials, and work in process. Inventories are stated at net realizable value, with cost determined using the first-in, first-out method. Adjustments for excess and obsolete inventories are established based upon historical experience and management’s assessment of current product demand. These assessments include inventory obsolescence based on its expiration date, damaged or rejected product, and slow-moving products.

Property, Plant and Equipment

Property, Plant, and Equipment

Property, plant, and equipment are stated at historical cost less accumulated depreciation. Depreciation expense is computed primarily using the straight-line method over the estimated useful lives of the assets, which are as follows:


Asset Classification						Estimated Useful Life
Buildings						30 years
Computer equipment						5 years
Furniture and fixtures						7 years
Leasehold improvements						Shorter of asset's useful life or remaining life of lease
Machinery and equipment						5 - 10 years
Vehicles						5 years

Upon retirement or disposal, the cost of the asset disposed and the accumulated depreciation are removed from the accounts, and any gain or loss is reflected as part of operating income (loss) in the period of disposal. Expenditures that significantly increase value or extend useful lives of property, plant, and equipment are capitalized, whereas those for normal maintenance and repairs are expensed. The Company capitalizes interest on borrowings during the construction period of major capital projects as part of the related asset and amortizes the capitalized interest into earnings over the related asset’s remaining useful life.

Leases

All significant lease arrangements are recognized as right-of-use (ROU) assets and lease liabilities at lease commencement. ROU assets represent the Company's right to use an underlying asset for the lease term, and lease liabilities represent its obligation to make lease payments arising from the lease. ROU assets and liabilities are recognized at the commencement date based on the present value of the future lease payments using the Company's incremental borrowing rate, which is assessed quarterly.

Operating lease expense is recognized on a straight-line basis over the lease term. At each balance sheet date, operating and financing lease liabilities continue to represent the present value of the future payments. Financing lease ROU assets are expensed using the straight-line method, unless another basis is more representative of the pattern of economic benefit, to lease expense. Interest on financing lease liabilities is recognized in interest expense.

Leases with an initial term of 12 months or less (short-term leases) are not recognized in the balance sheet and the related lease payments are recognized as incurred over the lease term. The Company separates lease and non-lease components. A portion of the Company's real estate leases are subject to periodic changes in the Consumer Price Index ("CPI"). The changes to the CPI are treated as variable lease payments and recognized in the period in which the obligation for those payments was incurred.

In-Process Research and Development

The fair value of in-process research and development ("IPR&D") acquired in a business combination is determined based on the present value of each research project’s projected cash flows using an income approach. Revenues are estimated based on

relevant market size and growth factors, expected industry trends, individual project life cycles and the life of each research project’s underlying marketability. In determining the fair value of each research project, expected cash flows are adjusted for certain risks of completion, including technical and regulatory risk.

The value attributable to IPR&D projects at the time of acquisition is capitalized as an indefinite-lived intangible asset and tested for impairment until the project is completed or abandoned. Upon completion of the project, the indefinite-lived intangible asset is then accounted for as a finite-lived intangible asset and amortized over the estimated useful life of the asset based on the pattern in which the economic benefits are expected to be consumed or otherwise used up or, if that pattern is not readily determinable, on a straight-line basis. If the project is abandoned, the indefinite-lived intangible asset is charged to expense.

Intangible assets with indefinite lives, including IPR&D, are tested for impairment if impairment indicators arise and, at a minimum, annually. However, an entity is permitted to first assess qualitative factors to determine if a quantitative impairment test is necessary. Further testing is only required if the entity determines, based on the qualitative assessment, that it is more likely than not that an indefinite-lived intangible asset’s fair value is less than its carrying amount. Otherwise, no further impairment testing is required. The indefinite-lived intangible asset impairment test consists of a one-step analysis that compares the fair value of the intangible asset with its carrying amount. If the carrying amount of an intangible asset exceeds its fair value, an impairment loss is recognized in an amount equal to that excess. The Company considers many factors in evaluating whether the value of its intangible assets with indefinite lives may not be recoverable, including, but not limited to, expected growth rates, the cost of equity and debt capital, general economic conditions, the Company's outlook and market performance of the Company's industry and recent and forecasted financial performance.

Goodwill

Goodwill, which represents the excess of purchase price over the fair value of net assets acquired, is carried at cost. Goodwill is not amortized; rather, it is subject to a periodic assessment for impairment by applying a fair value based test. The Company reviews goodwill for possible impairment annually during the fourth quarter, or whenever events or circumstances indicate that the carrying amount may not be recoverable.

In order to test goodwill for impairment, an entity is permitted to first assess qualitative factors to determine whether a quantitative assessment of goodwill is necessary. The qualitative factors considered by the Company may include, but are not limited to, general economic conditions, the Company’s outlook, market performance of the Company’s industry and recent and forecasted financial performance. Further testing is only required if the entity determines, based on the qualitative assessment, that it is more likely than not that a reporting unit’s fair value is less than its carrying amount. Otherwise, no further impairment testing is required. If a quantitative assessment is required, the Company determines the fair value of its reporting unit using a combination of the income and market approaches. If the net book value of the reporting unit exceeds its fair value, the Company recognizes a goodwill impairment charge for the reporting unit equal to the lesser of (i) the total goodwill allocated to that reporting unit and (ii) the amount by which that reporting unit’s carrying amount exceeds its fair value. See Note 15. Goodwill and Other Intangible Assets, for further discussion of the Company's quantitative assessment of goodwill.

Assumptions and estimates used in the evaluation of impairment may affect the carrying value of long-lived assets, which could result in impairment charges in future periods. Such assumptions include projections of future cash flows and the current fair value of the asset.

Amortization of Intangible Assets with Finite Lives

Intangible assets, other than indefinite-lived intangible assets, are amortized over the estimated useful life of the asset based on the pattern in which the economic benefits are expected to be consumed or otherwise used up or, if that pattern is not readily determinable, on a straight-line basis. The useful life is the period over which the assets are expected to contribute directly or indirectly to future cash flows. Intangible assets are not written-off in the period of acquisition unless they become impaired during that period.

The Company regularly evaluates the remaining useful life of each intangible asset that is being amortized to determine whether events and circumstances warrant a revision to the remaining period of amortization. If the estimate of the intangible asset’s remaining useful life is changed, the remaining carrying amount of the intangible asset is amortized prospectively over that revised remaining useful life. See Note 15. Goodwill and Other Intangible Assets, for further discussion of the Company's intangible assets.

Impairment of Long-Lived Assets (Including Intangible Assets with Finite Lives)

The Company reviews its long-lived assets, including intangible assets with finite lives, for recoverability whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable. The Company evaluates assets for potential impairment by comparing estimated future undiscounted net cash flows to the carrying amount of the asset. If the carrying amount of the assets exceeds the estimated future undiscounted cash flows, impairment is measured based on the difference between the carrying amount of the assets and fair value which is generally an expected present value cash flow technique. Management’s policy in determining whether an impairment indicator exists comprises measurable operating performance criteria as well as other qualitative measures. See Note 15. Goodwill and Other Intangible Assets, for further discussion of the Company's assessment of intangible asset impairment.

Financial Instruments

The Company minimizes its risks from interest fluctuations through its normal operating and financing activities and, when deemed appropriate through the use of derivative financial instruments. Derivative financial instruments are used to manage risk and are not used for trading or other speculative purposes. The Company does not use leveraged derivative financial instruments. Derivative financial instruments that qualify for hedge accounting must be designated and effective as a hedge of the identified risk exposure at the inception of the contract. Accordingly, changes in fair value of the derivative contract must be highly correlated with changes in fair value of the underlying hedged item at inception of the hedge and over the life of the hedge contract.

All derivatives are recorded on the balance sheet as assets or liabilities and measured at fair value. For derivatives designated as cash flow hedges, the effective portion of the changes in fair value of the derivatives are recorded in accumulated other comprehensive income (loss), net of income taxes and subsequently amortized as an adjustment to interest expense over the period during which the hedged forecasted transaction affects earnings, which is when the Company recognizes interest expense on the hedged cash flows. Cash flows of such derivative financial instruments are classified consistent with the underlying hedged item.

Highly effective hedging relationships that use interest rate swaps as the hedging instrument and that meet criteria under ASC 815, Derivatives and Hedging, may qualify for the “short-cut method” of assessing effectiveness. The short-cut method allows the Company to make the assumption of no ineffectiveness, which means that the change in fair value of the hedged item can be assumed to be equal to the change in fair value of the derivative. Unless critical terms change, no further evaluation of effectiveness is performed for these hedging relationships unless a critical term is changed.

For a hedging relationship that does not qualify for the short-cut method, the Company measures its effectiveness using the “hypothetical derivative method”, in which the change in fair value of the hedged item must be measured separately from the change in fair value of the derivative. At inception and quarterly thereafter, the Company formally assesses whether the derivatives that are used in hedging transactions are highly effective in offsetting changes in the fair value or cash flows of the hedged item. The Company compares the change in the fair value of the actual interest rate derivative to the change in the fair value of a hypothetical interest rate derivative with critical terms that match the hedged interest rate payments. After the initial quantitative assessment, this analysis is performed on a qualitative basis and, if it is determined that the hedging relationship was and continues to be highly effective, no further analysis is required.

All components of each derivative financial instrument's gain or loss are included in the assessment of hedge effectiveness. If it is determined that a derivative ceases to be a highly effective hedge, the Company discontinues hedge accounting and any deferred gains or losses related to a discontinued cash flow hedge shall continue to be reported in accumulated other comprehensive income (loss) net of income taxes, unless it is probable that the forecasted transaction will not occur. If it is probable that the forecasted transaction will not occur by the originally specified time period, the Company discontinues hedge accounting, and any deferred gains or losses reported in accumulated other comprehensive income (loss) are classified into earnings immediately.

The Company is subject to credit risk as a result of nonperformance by counterparties to the derivative agreements. Upon inception and quarterly thereafter, the Company makes judgments on each counterparty’s creditworthiness for nonperformance by counterparties.

Income Taxes

The Company accounts for income taxes in accordance with ASC 740, Accounting for Income Taxes, which requires the recognition of tax benefits or expenses on temporary differences between the financial reporting and tax bases of its assets and

liabilities by applying the enacted tax rates in effect for the year in which the differences are expected to reverse. Such net tax effects on temporary differences are reflected on the Company’s consolidated balance sheets as deferred tax assets and liabilities. Deferred tax assets are reduced by a valuation allowance when the Company believes that it is more-likely-than-not that some portion or all of the deferred tax assets will not be realized.

ASC 740-10 prescribes a two-step approach for the recognition and measurement of tax benefits associated with the positions taken or expected to be taken in a tax return that affect amounts reported in the financial statements. The Company has reviewed and will continue to review the conclusions reached regarding uncertain tax positions, which may be subject to review and adjustment at a later date based on ongoing analyses of tax laws, regulations and interpretations thereof. To the extent that the Company’s assessment of the conclusions reached regarding uncertain tax positions changes as a result of the evaluation of new information, such change in estimate will be recorded in the period in which such determination is made. The Company reports income tax-related interest and penalties relating to uncertain tax positions, if applicable, as a component of income tax expense.

Comprehensive Loss

Comprehensive Income (Loss)

Comprehensive income (loss) includes net income (loss) and all changes in stockholders’ equity (except those arising from transactions with stockholders) including foreign currency translation adjustments resulting from the consolidation of foreign subsidiaries’ financial statements and unrealized gains on cash flows hedges, net of income taxes.

Research and Development/Intellectual Property Legal Development Expenses

Research and Development

Research and development ("R&D") activities are expensed as incurred. R&D expenses primarily consist of direct and allocated expenses incurred with the process of formulation, clinical research, and validation associated with new product development. Upfront and milestone payments made to third parties in connection with R&D collaborations are expensed as incurred up to the point of regulatory approval or when there is no alternative future use.

Intellectual Property Legal Development Expenses

The Company expenses external intellectual property legal development expenses as incurred. These costs relate to legal challenges of innovator’s patents for invalidity or non-infringement, which are customary in the generic pharmaceutical industry, and are incurred predominately during development of a product and prior to regulatory approval. Associated costs include, but are not limited to, formulation assessments, patent challenge opinions and strategy, and litigation expenses to defend the intellectual property supporting the Company's regulatory filings.

Recently Adopted and Recently Issued Accounting Pronouncements

Recently Adopted Accounting Pronouncements

In August 2018, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement, which modified the disclosure requirements on fair value measurement. The Company adopted ASU 2018-13 effective January 1, 2020, and it did not have a material impact on the Company’s consolidated financial statements.

In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, guidance that changes the impairment model for most financial assets including trade receivables and certain other instruments that are not measured at fair value through net income. The standard replaced today’s "incurred loss" approach with an "expected loss" model for instruments measured at amortized cost and requires entities to record allowances for available-for-sale debt securities rather than reduce the carrying amount, as they did under the other-than-temporary impairment model. It also simplifies the accounting model for purchased credit-impaired debt securities and loans. Entities apply the standard’s provisions as a cumulative effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. The Company adopted ASU 2016-13 effective January 1, 2020, and it did not have a material impact on the Company’s consolidated financial statements.

Recently Issued Accounting Pronouncements

In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform, which provided elective amendments for entities that have contracts, hedging relationships and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The amendments may be applied to impacted contracts and hedges prospectively through December 31, 2022. The Company is currently evaluating the impact this guidance will have on its consolidated financial statements.

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Summary of Property, Plant, and Equipment Estimated Useful Lives

Property, plant, and equipment are stated at historical cost less accumulated depreciation. Depreciation expense is computed primarily using the straight-line method over the estimated useful lives of the assets, which are as follows:


Asset Classification						Estimated Useful Life
Buildings						30 years
Computer equipment						5 years
Furniture and fixtures						7 years
Leasehold improvements						Shorter of asset's useful life or remaining life of lease
Machinery and equipment						5 - 10 years
Vehicles						5 years

Property, plant, and equipment, net was comprised of the following (in thousands):


	December 31, 2020		December 31, 2019
Land	$	4,937	$	4,387
Buildings	210,122		203,424
Leasehold improvements	108,698		103,186
Machinery and equipment	354,599		326,045
Furniture and fixtures	10,992		10,744
Vehicles	1,360		1,330
Computer equipment	47,729		40,523
Construction-in-progress	71,456		64,403
Total property, plant, and equipment	809,893		754,042
Less: Accumulated depreciation	(332,139)		(276,045)
Property, plant, and equipment, net	$	477,754	$	477,997

Depreciation recognized by the Company was as follows (in thousands):


	Year Ended December 31,
	2020		2019		2018
Depreciation	$	60,420	$	63,283	$	64,417

Acquisitions and Divestitures (Tables)

12 Months Ended

Dec. 31, 2020

Business Acquisition [Line Items]

Schedule of Business Acquisition Pro Forma Data

The unaudited pro forma combined results of operations for the years ended December 31, 2020 (assuming the closing of the Acquisitions occurred on January 1, 2019) are as follows (in thousands):


	Year Ended December 31,
	2020		2019
Net revenue	$	2,023,231	$	1,933,042
Net income (loss)	$	68,588	$	(594,040)
Net income (loss) attributable to Amneal Pharmaceuticals, Inc.	$	91,062	$	(359,140)

AvKARE and R&S Acquisitions

Business Acquisition [Line Items]

Schedule of Purchase Price, Net of Cash Acquired

The purchase price was calculated as follows (in thousands):


Cash	$	254,000
Sellers Notes (1)	35,033
Settlement of Amneal trade accounts receivable from R&S (2)	6,855
Short-Term Seller Note (3)	1,000
Working capital adjustment (4)	(2,640)
Fair value consideration transferred	$	294,248

(1)In accordance with ASC 805, Business Combinations, all consideration transferred was measured at its acquisition-date fair value. The Sellers Notes were stated at the fair value estimate of $35 million, which is the $44 million aggregate principal amount less a $9 million discount. The fair value of the Sellers Notes was estimated using the Monte-Carlo simulation approach under the option pricing framework.

(2)Represents trade accounts receivable from R&S that was effectively settled upon closing of the Acquisitions.

(3)Represents the principal amount due on the Short-Term Seller Note, which approximates fair value.

(4)Represents a working capital adjustment pursuant to the terms of the purchase agreement. The entire amount was received in cash by the Company in September 2020.

Schedule of Purchase Price Allocation

The following is a summary of the purchase price allocation for the Acquisitions (in thousands):


	Preliminary Fair Values as of January 31, 2020
Trade accounts receivable, net	$	46,702
Inventories	71,908
Prepaid expenses and other current assets	11,316
Related party receivables	61
Property, plant and equipment	5,278
Goodwill	103,679
Intangible assets, net	130,800
Operating lease right-of-use assets - related party	5,544
Total assets acquired	375,288
Accounts payable and accrued expenses	62,489
Related party payables	1,532
Operating lease liabilities - related party	5,544
Total liabilities assumed	69,565
Redeemable non-controlling interests	11,475
Fair value of consideration transferred	$	294,248

Schedule of Acquired Intangible Assets

The acquired intangible assets are being amortized over their estimated useful lives as follows (in thousands):


	Final Fair Values		Weighted-Average Useful Life
Government licenses	$	66,700	7 years
Government contracts	22,000		4 years
National contracts	28,600		5 years
Customer relationships	13,000		10 years
Trade name	500		6 years
	$	130,800

Impax Acquisition

Business Acquisition [Line Items]

Schedule of Purchase Price, Net of Cash Acquired

The purchase price, net of cash acquired, is calculated as follows (in thousands, except share amount and price per share):


Fully diluted Impax share number (1)	73,288,792
Closing quoted market price of an Impax common share on May 4, 2018	$	18.30
Equity consideration - subtotal	$	1,341,185
Add: Fair value of Impax stock options as of May 4, 2018 (2)	22,610
Total equity consideration	1,363,795
Add: Extinguishment of certain Impax obligations, including accrued and unpaid interest	320,290
Less: Cash acquired	(37,907)
Purchase price, net of cash acquired	$	1,646,178

(1)Represents shares of Impax Common Stock issued and outstanding immediately prior to the Combination.

(2)Represents the fair value of 3.0 million fully vested Impax stock options valued using the Black-Scholes options pricing model.

Schedule of Purchase Price Allocation

The following is a summary of the purchase price allocation for the Impax acquisition (in thousands):


	Final Fair Values As of May 4, 2018
Trade accounts receivable, net	$	210,820
Inventories	183,088
Prepaid expenses and other current assets	91,430
Property, plant and equipment	87,472
Goodwill	398,733
Intangible assets	1,574,929
Other	55,790
Total assets acquired	2,602,262
Accounts payable	47,912
Accrued expenses and other current liabilities	274,979
Long-term debt	599,400
Other long-term liabilities	33,793
Total liabilities assumed	956,084
Net assets acquired	$	1,646,178

Schedule of Acquired Intangible Assets

The acquired intangible assets are being amortized over their estimated useful lives as follows (in thousands):


	Final Fair Values		Weighted-Average Useful Life (Years)
Marketed product rights	$	1,045,617	12.9

Gemini Laboratories, LLC Acquisition

Business Acquisition [Line Items]

Schedule of Purchase Price Allocation

The following is a summary of the purchase price allocation for the Gemini acquisition (in thousands):


	Final Fair Values As of May 7, 2018
Trade accounts receivable, net	$	8,158
Inventories	1,851
Prepaid expenses and other current assets	3,795
Property, plant and equipment, net	11
Goodwill	1,500
Intangible assets	142,740
Other	324
Total assets acquired	158,379
Accounts payable	1,764
Accrued expenses and other current liabilities	14,644
License liability	20,000
Total liabilities assumed	36,408
Net assets acquired	$	121,971

Schedule of Acquired Intangible Assets

The acquired intangible assets are being amortized over their estimated useful lives as follows (in thousands):


	Final Fair Values		Weighted-Average Useful Life
Product rights for licensed / developed technology	$	110,350	10 years
Product rights for developed technologies	5,500		9 years
Product rights for out-licensed generics royalty agreement	390		2 years
	$	116,240

Revenue Recognition (Tables)

12 Months Ended

Dec. 31, 2020

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregated Revenue

The Company's significant therapeutic classes for each of its reportable segments, as determined based on net revenue for each of the years ended December 31, 2020, 2019 and 2018 are set forth below (in thousands):


		Year ended December 31,
		2020		2019		2018
Generics
	Anti-Infective	$	40,381	$	36,320	$	37,988
	Hormonal/Allergy	355,581		364,658		246,765
	Antiviral	25,724		27,488		44,334
	Central Nervous System (1)	422,405		423,416		476,046
	Cardiovascular System	114,226		117,065		182,990
	Gastroenterology	78,165		42,783		52,878
	Oncology	61,113		62,721		40,347
	Metabolic Disease/Endocrine	45,004		55,786		68,448
	Respiratory	37,389		34,920		49,651
	Dermatology	58,168		60,186		40,010
	Other therapeutic classes	102,721		60,041		139,580
	International and other	2,333		23,459		59,994
	Total Generics net revenue	1,343,210		1,308,843		1,439,031
Specialty
	Hormonal/Allergy	54,631		45,547		29,048
	Central Nervous System (1)	285,737		235,846		146,812
	Gastroenterology	1,597		4,223		1,141
	Metabolic Disease/Endocrine	646		894		1,306
	Other therapeutic classes	12,956		31,020		45,653
	Total Specialty net revenue	355,567		317,530		223,960
AvKARE
	Distribution	161,673		—		—
	Government Label	104,054		—		—
	Institutional	18,546		—		—
	Other	9,473		—		—
	Total AvKARE net revenue	293,746		—		—
	Total net revenue	$	1,992,523	$	1,626,373	$	1,662,991

(1)During the three months ended September 30, 2019, operating results for Oxymorphone were reclassified from Generics to Specialty, where it is sold as a non-promoted product. Prior period results have not been restated to reflect the reclassification.

Schedule of Major Categories of Sales-Related Deductions

A rollforward of the major categories of sales-related deductions for the years ended December 31, 2020, 2019 and 2018 is as follows (in thousands):


	Contract Charge- backs and Sales Volume Allowances		Cash Discount Allowances		Accrued Returns Allowance		Accrued Medicaid and Commercial Rebates
Balance at January 1, 2018	$	453,703	$	20,408	$	45,175	$	12,911
Liabilities assumed from acquisitions	222,970		11,781		102,502		51,618
Provision related to sales recorded in the period	3,463,983		117,010		85,996		104,664
Credits/payments issued during the period	(3,311,060)		(113,042)		(79,170)		(94,991)
Balance at December 31, 2018	829,596		36,157		154,503		74,202
Provision related to sales recorded in the period	4,628,084		136,005		104,664		202,635
Credits/payments issued during the period	(4,627,873)		(137,854)		(108,806)		(161,877)
Balance at December 31, 2019	829,807		34,308		150,361		114,960
Impact from the Acquisitions	12,444		944		11,606		10
Provision related to sales recorded in the period	3,930,682		118,525		110,556		133,748
Credits/payments issued during the period	(4,144,909)		(131,087)		(97,539)		(117,630)
Balance at December 31, 2020	$	628,024	$	22,690	$	174,984	$	131,088

The following table summarizes the changes in the Company's valuation allowance on deferred tax assets (in thousands):


	Years Ended December 31,
	2020		2019		2018
Balance at the beginning of the period	$	470,193	$	41,235	$	41,617
(Decrease) increase due to net operating losses and temporary differences	(54,971)		424,692		(382)
(Decrease) increase recorded against APIC	(1,631)		4,266		—
Increase recorded against OCI	9,221		—		—
Balance at the end of the period	$	422,812	$	470,193	$	41,235

Restructuring and Other Charges (Tables)

12 Months Ended

Dec. 31, 2020

Restructuring and Related Activities [Abstract]

Restructuring and Asset-related Costs and Charges By Segment

The following table sets forth the components of the Company's restructuring and asset-related charges for the years ended December 31, 2020, 2019 and 2018 (in thousands):


	Years Ended December 31,
	2020		2019		2018
Employee restructuring separation (credit) charges (1)	$	(119)	$	11,121	$	45,118
Asset-related (credit) charges (2)	(536)		12,459		11,295
Total employee and asset-related restructuring (credit) charges	(655)		23,580		56,413
Other employee severance charges (3)	3,053		10,765		—
Total restructuring and other charges	$	2,398	$	34,345	$	56,413

(1)Employee restructuring separation charges include the cost of benefits provided pursuant to the Company's severance programs for employees impacted by the Plans at the Company's Hauppauge, NY, Hayward, CA and other facilities.

(2)For the year ended December 31, 2020, the asset-related credit was primarily associated with the contractual cancellation of an asset retirement obligation related to a lease in Hayward, CA that was terminated during August 2020. For the year ended December 31, 2019, asset-related charges were primarily associated with the impairment of property, plant and equipment and right of use asset in connection with the planned closing of the Company’s Hauppauge, NY facility. For the year ended December 31, 2018, asset-related charges were primarily associated with the write-off of leasehold improvements in connection with the closing of a manufacturing facility in Hayward, CA.

(3)For the years ended December 31, 2020 and 2019, other employee severance charges were primarily associated with the cost of benefits for former executives.

The (credit) charges related to restructuring impacted segment earnings was as follows (in thousands):


	Years Ended December 31,
	2020		2019		2018
Generics	$	(655)	$	20,101	$	33,943
Specialty	—		391		4,076
Corporate	—		3,088		18,394
Total employee and asset-related restructuring (credit) charges	$	(655)	$	23,580	$	56,413

Schedule of Restructuring Reserve

The following table shows the change in the employee separation-related liability associated with the Plans, the entirety of which is included in accounts payable and accrued expenses (in thousands):


	Employee Restructuring
Balance at December 31, 2019	$	3,900
Credit to income	(119)
Payments	(2,189)
Balance at December 31, 2020	$	1,592

Acquisition, Transaction-Related and Integration Expenses (Tables)

12 Months Ended

Dec. 31, 2020

Business Combinations [Abstract]

Summary of Acquisition, Transaction-Related and Integration Expenses

The following table sets forth the components of the Company’s acquisition, transaction-related and integration expenses for the years ended December 31, 2020, 2019 and 2018 (in thousands).


	Years Ended December 31,
	2020		2019		2018
Acquisition, transaction-related and integration expenses (1)	$	8,988	$	16,388	$	35,319
Profit participation units (2)	—		—		158,757
Transaction-related bonus (3)	—		—		27,742
Total	$	8,988	$	16,388	$	221,818

(1)For the year ended December 31, 2020, these expenses were primarily related to professional services fees (e.g., legal, investment banking and consulting) associated with the pending acquisition of a 98% interest in Kashiv Specialty Pharmaceuticals, LLC (see Note 28. Subsequent Events), systems integrations associated with the Combination and integration activities associated with the Acquisitions. For the year ended December 31, 2019, these costs primarily consisted of integration costs. For the year ended December 31, 2018, these costs included professional service fees (e.g., legal, investment banking and accounting), information technology systems conversions, and contract termination/renegotiation costs. For more information, see Note 3. Acquisitions and Divestitures.

(2)Profit Participation Units expense relates to the accelerated vesting of certain of Amneal's profit participation units that occurred prior to the Closing of the Combination for current and former employees of Amneal for service prior to the Combination (see additional information in the paragraph below and Note 22. Stockholders' Equity).

(3)Transaction-related bonus reflects a cash bonus that was funded by Holdings for employees of Amneal for service prior to the closing of the Combination (see additional information in Note 22. Stockholders' Equity).

Income taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of (Loss) Income Before Income Taxes

The components of the Company's (loss) income before income taxes were as follows (in thousands):


	Years Ended December 31,
	2020		2019		2018
United States	$	(99,966)	$	(291,608)	$	(138,484)
International	64,186		71,366		(64,238)
Total loss before income taxes	$	(35,780)	$	(220,242)	$	(202,722)

Schedule of Provision for (Benefit From) Income Tax Expense

The provision for (benefit from) income taxes was comprised of the following (in thousands):


	Years Ended December 31,
	2020		2019		2018
Current:
Domestic	$	(113,754)	$	(2,760)	$	2,299
Foreign	9,396		14,375		5,721
Total current income tax	(104,358)		11,615		8,020
Deferred:
Domestic	—		365,546		(2,967)
Foreign	—		6,170		(6,472)
Total deferred income tax	—		371,716		(9,439)
Total provision for (benefit from) income tax	$	(104,358)	$	383,331	$	(1,419)

Schedule of Effective Income Tax Rate

The effective tax rate was as follows:


	Years Ended December 31,
	2020		2019		2018
Federal income tax at the statutory rate	21.0	%	21.0	%	21.0	%
State income tax, net of federal benefit	(2.0)	%	(15.1)	%	(1.1)	%
Losses for which no benefit has been recognized	(29.8)	%	(25.8)	%	(12.3)	%
Foreign rate differential	(7.1)	%	(5.5)	%	(6.3)	%
TRA Revaluation	—	%	18.4	%	0.2	%
CARES Act	139.9	%	—	%	—	%
Valuation Allowance	163.2	%	(168.2)	%	—	%
Other	6.5	%	1.2	%	(0.8)	%
Effective income tax rate	291.7	%	(174.0)	%	0.7	%

Schedule of Major Categories of Sales-Related Deductions

A rollforward of the major categories of sales-related deductions for the years ended December 31, 2020, 2019 and 2018 is as follows (in thousands):


	Contract Charge- backs and Sales Volume Allowances		Cash Discount Allowances		Accrued Returns Allowance		Accrued Medicaid and Commercial Rebates
Balance at January 1, 2018	$	453,703	$	20,408	$	45,175	$	12,911
Liabilities assumed from acquisitions	222,970		11,781		102,502		51,618
Provision related to sales recorded in the period	3,463,983		117,010		85,996		104,664
Credits/payments issued during the period	(3,311,060)		(113,042)		(79,170)		(94,991)
Balance at December 31, 2018	829,596		36,157		154,503		74,202
Provision related to sales recorded in the period	4,628,084		136,005		104,664		202,635
Credits/payments issued during the period	(4,627,873)		(137,854)		(108,806)		(161,877)
Balance at December 31, 2019	829,807		34,308		150,361		114,960
Impact from the Acquisitions	12,444		944		11,606		10
Provision related to sales recorded in the period	3,930,682		118,525		110,556		133,748
Credits/payments issued during the period	(4,144,909)		(131,087)		(97,539)		(117,630)
Balance at December 31, 2020	$	628,024	$	22,690	$	174,984	$	131,088

The following table summarizes the changes in the Company's valuation allowance on deferred tax assets (in thousands):


	Years Ended December 31,
	2020		2019		2018
Balance at the beginning of the period	$	470,193	$	41,235	$	41,617
(Decrease) increase due to net operating losses and temporary differences	(54,971)		424,692		(382)
(Decrease) increase recorded against APIC	(1,631)		4,266		—
Increase recorded against OCI	9,221		—		—
Balance at the end of the period	$	422,812	$	470,193	$	41,235

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to deferred taxes were as follows (in thousands):


	December 31, 2020		December 31, 2019
Deferred tax assets:
Partnership interest in Amneal	$	212,402	$	226,049
Projected imputed interest on TRA	25,539		25,278
Net operating loss carryforward	77,255		119,088
IRC Section 163(j) interest carryforward	45,425		44,978
Capitalized costs	1,502		—
Accrued expenses	410		304
Intangible assets	28,400		31,677
Tax credits and other	31,879		22,819
Total deferred tax assets	422,812		470,193
Valuation allowance	(422,812)		(470,193)
Net deferred tax assets	$	—	$	—

Schedule of Changes in Unrecognized Tax Benefits

A rollforward of unrecognized tax benefits for the years ended December 31, 2020, 2019 and 2018 is as follows (in thousands):


	Years Ended December 31,
	2020		2019		2018
Unrecognized tax benefits at the beginning of the period	$	6,176	$	7,206	$	—
Gross change for current period positions	125		83		182
Gross change for prior period positions	443		(732)		2,346
Gross change due to Combination	—		—		5,208
Decrease due to expiration of statutes of limitations	—		—		(530)
Decrease due to settlements and payments	(1,376)		(381)		—
Unrecognized tax benefits at the end of the period	$	5,368	$	6,176	$	7,206

Earnings (Loss) per Share (Tables)

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following table sets forth reconciliations of the numerators and denominators used to compute basic and diluted earnings (loss) per share of Class A Common Stock and Class B-1 Common Stock (in thousands, except per share amounts):


	Years Ended December 31,
	2020		2019		2018
Numerator:
Net income (loss) attributable to Amneal Pharmaceuticals, Inc.	$	91,059	$	(361,917)	$	(20,920)

Denominator:
Weighted-average shares outstanding - basic (1)	147,443		132,106		127,252
Effect of dilutive securities
Stock options	348		—		—
Restricted stock units	1,122		—		—
Weighted-average shares outstanding - diluted	148,913		132,106		127,252
Net earnings (loss) per share attributable to Amneal Pharmaceuticals, Inc.'s common stockholders:
Class A and Class B-1 basic	$	0.62	$	(2.74)	$	(0.16)
Class A and Class B-1 diluted	$	0.61	$	(2.74)	$	(0.16)

(1)During the year ended December 31, 2019, pursuant to the Company's certificate of incorporation, the Company converted all 12.3 million of its issued and outstanding shares of Class B-1 Common Stock to Class A Common Stock and such shares of Class B-1 Common Stock have been retired and may not be reissued by the Company. The weighted-average shares for the year ended December 31, 2020 do not include Class B-1 Common Stock.

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following table presents potentially dilutive securities excluded from the computations of diluted earnings (loss) per share of Class A Common Stock and Class B-1 Common Stock (in thousands).


	Years Ended December 31,
	2020	2019	2018
Stock options (1)(4)	671	6,177	5,815
Restricted stock units (4)	—	2,478	1,331
Performance stock units (2)(4)	2,973	159	—
Shares of Class B Common Stock (3)	152,117	152,117	171,261

(1)Excluded from the computation of diluted earnings per share of Class A Common Stock for the year ended December 31, 2020 because the exercise price of the stock options exceeded the average market price of the Class A Common Stock during the period (out-of-the-money).

(2)Excluded from the computation of diluted earnings per share of Class A Common Stock for the year ended December 31, 2020 because the performance vesting conditions were not met.

(3)Shares of Class B Common Stock are considered potentially dilutive shares of Class A and Class B-1 Common Stock. Shares of Class B Common Stock have been excluded from the computations of diluted earnings (loss) per share of Class A and Class B-1 Common Stock for each of the years ended December 31, 2020, 2019 and 2018 because the effect of their inclusion would have been anti-dilutive under the if-converted method. As noted above, the weighted-average shares for the year ended December 31, 2020 do not include Class B-1 Common Stock.

(4)Excluded from the computation of diluted loss per share of Class A Common Stock and Class B-1 Common Stock for the years ended December 31, 2019 and 2018 because the effect of their inclusion would have been anti-dilutive since there was a net loss attributable to the Company for the years ended December 31, 2019 and 2018. As noted above, the weighted-average shares for the year ended December 31, 2020 do not include Class B-1 Common Stock.

Trade Accounts Receivable, Net (Tables)

12 Months Ended

Dec. 31, 2020

Receivables [Abstract]

Schedule of Trade Accounts Receivable, Net

Trade accounts receivable, net is comprised of the following (in thousands):


	December 31, 2020		December 31, 2019
Gross accounts receivable	$	1,291,785	$	1,470,706
Allowance for doubtful accounts	(1,396)		(2,201)
Contract charge-backs and sales volume allowances	(628,804)		(829,807)
Cash discount allowances	(22,690)		(34,308)
Subtotal	(652,890)		(866,316)
Trade accounts receivable, net	$	638,895	$	604,390

Inventories (Tables)

12 Months Ended

Dec. 31, 2020

Inventory Disclosure [Abstract]

Components of Inventories

Inventories are comprised of the following (in thousands):


	December 31, 2020		December 31, 2019
Raw materials	$	209,180	$	172,159
Work in process	40,937		58,188
Finished goods	240,532		150,720
Total inventories	$	490,649	$	381,067

Leases (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Schedule of Components of Lease Costs / Supplemental Cash Flow Information

The components of total lease costs were as follows (in thousands):


	Years Ended December 31,
	2020		2019
Operating lease cost (1)	$	21,664	$	22,544
Finance lease cost:
Amortization of right-of-use assets	4,497		3,468
Interest on lease liabilities	4,773		4,641
Total finance lease cost	9,270		8,109
Total lease cost	$	30,934	$	30,653

(1)Includes variable and short-term lease costs.

Supplemental cash flow information related to leases was as follows (in thousands):


	Years Ended December 31,
	2020		2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	$	4,773	$	4,272
Operating cash flows from operating leases	18,780		20,122
Financing cash flows from finance leases	2,768		2,256
Non-cash activity:
Right-of-use assets obtained in exchange for new operating lease liabilities	$	3,305	$	4,874

Schedule of Supplemental Balance Sheet Information

Supplemental balance sheet information related to the Company's leases was as follows (in thousands):


Operating leases	December 31, 2020		December 31, 2019
Operating lease right-of-use assets	$	33,947	$	53,344
Operating lease right-of-use assets - related party	24,792		16,528
Total operating lease right-of-use assets	$	58,739	$	69,872

Operating lease liabilities	30,182		$	43,135
Operating lease liabilities - related party	23,049		15,469
Current portion of operating lease liabilities	6,474		11,874
Current portion of operating lease liabilities - related party	2,820		2,547
Total operating lease liabilities	$	62,525	$	73,025

Financing leases
Financing lease right of use assets - related party	$	58,676	$	61,284
Total financing lease right-of-use assets	$	58,676	$	61,284

Financing lease liabilities - related party	$	60,193	$	61,463
Current portion of financing lease liabilities - related party	1,158		1,054
Total financing lease liabilities	$	61,351	$	62,517

Schedule of Lease Term and Discount Rate Information

The table below reflects the weighted average remaining lease term and weighted average discount rate for the Company's operating and finance leases:


	December 31, 2020	December 31, 2019
Weighted average remaining lease term - operating leases	6 years	6 years
Weighted average remaining lease term - finance leases	21 years	22 years
Weighted average discount rate - operating leases	7.1%	6.8%
Weighted average discount rate - finance leases	7.1%	7.1%

Schedule of Operating Lease Maturities

Maturities of lease liabilities as of December 31, 2020 were as follow (in thousands):


	Operating Leases		Financing Leases
2021	$	13,473	$	5,474
2022	13,402		5,474
2023	13,446		5,474
2024	12,246		5,474
2025	8,961		5,474
Thereafter	16,822		95,335
Total lease payments	78,350		122,705
Less: Imputed interest	(15,825)		(61,354)
Total	$	62,525	$	61,351

Maturities of lease liabilities as of December 31, 2019 were as follows (in thousands):


	Operating Leases		Financing Leases
2020	$	18,970	$	5,474
2021	17,052		5,474
2022	13,426		5,474
2023	11,244		5,474
2024	9,864		5,474
2025	7,143		5,474
Thereafter	12,846		95,792
Total lease payments	90,545		128,636
Less: Imputed interest	(17,520)		(66,119)
Total	$	73,025	$	62,517

Schedule of Finance Lease Maturities

Maturities of lease liabilities as of December 31, 2020 were as follow (in thousands):


	Operating Leases		Financing Leases
2021	$	13,473	$	5,474
2022	13,402		5,474
2023	13,446		5,474
2024	12,246		5,474
2025	8,961		5,474
Thereafter	16,822		95,335
Total lease payments	78,350		122,705
Less: Imputed interest	(15,825)		(61,354)
Total	$	62,525	$	61,351

Maturities of lease liabilities as of December 31, 2019 were as follows (in thousands):


	Operating Leases		Financing Leases
2020	$	18,970	$	5,474
2021	17,052		5,474
2022	13,426		5,474
2023	11,244		5,474
2024	9,864		5,474
2025	7,143		5,474
Thereafter	12,846		95,792
Total lease payments	90,545		128,636
Less: Imputed interest	(17,520)		(66,119)
Total	$	73,025	$	62,517

Prepaid Expenses and Other Current Assets (Tables)

12 Months Ended

Dec. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets are comprised of the following (in thousands):


	December 31, 2020		December 31, 2019
Deposits and advances	$	1,696	$	1,123
Prepaid insurance	6,916		3,858
Prepaid regulatory fees	3,565		4,016

Income and other tax receivable	11,882		13,740
Prepaid taxes	5,542		3,255
Other current receivables	17,117		15,996
Other prepaid assets	21,836		28,176
Chargeback receivable (1)	4,913		—
Total prepaid expenses and other current assets	$	73,467	$	70,164

(1)When a sale occurs on a contract item, the difference between the cost paid to the manufacturer by the Company and the contract cost that the end customer has with the manufacturer is rebated back to the Company by the manufacturer. The Company establishes a chargeback (rebate) receivable and a reduction to cost of goods sold in the same period as the related sale.

Property, Plant, and Equipment, Net (Tables)

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

Summary of Property, Plant, and Equipment Estimated Useful Lives

Property, plant, and equipment are stated at historical cost less accumulated depreciation. Depreciation expense is computed primarily using the straight-line method over the estimated useful lives of the assets, which are as follows:


Asset Classification						Estimated Useful Life
Buildings						30 years
Computer equipment						5 years
Furniture and fixtures						7 years
Leasehold improvements						Shorter of asset's useful life or remaining life of lease
Machinery and equipment						5 - 10 years
Vehicles						5 years

Property, plant, and equipment, net was comprised of the following (in thousands):


	December 31, 2020		December 31, 2019
Land	$	4,937	$	4,387
Buildings	210,122		203,424
Leasehold improvements	108,698		103,186
Machinery and equipment	354,599		326,045
Furniture and fixtures	10,992		10,744
Vehicles	1,360		1,330
Computer equipment	47,729		40,523
Construction-in-progress	71,456		64,403
Total property, plant, and equipment	809,893		754,042
Less: Accumulated depreciation	(332,139)		(276,045)
Property, plant, and equipment, net	$	477,754	$	477,997

Depreciation recognized by the Company was as follows (in thousands):


	Year Ended December 31,
	2020		2019		2018
Depreciation	$	60,420	$	63,283	$	64,417

Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The changes in goodwill for the years ended December 31, 2020 and 2019 were as follows (in thousands):


	December 31, 2020		December 31, 2019
Balance, beginning of period	$	419,504	$	426,226
Impax acquisition adjustment	—		(1,255)
Goodwill acquired during the period	103,679		—
Goodwill divested during the period	—		(5,175)
Currency translation	(369)		(292)
Balance, end of period	$	522,814	$	419,504

Schedule of Finite-Lived Intangible Assets

Intangible assets were comprised of the following (in thousands):


	December 31, 2020							December 31, 2019
	Weighted- Average Amortization Period (in years)	Cost		Accumulated Amortization		Net		Cost		Accumulated Amortization		Net
Amortizing intangible assets:
Product rights	9.0	$	1,153,096	$	(328,587)	$	824,509	$	1,197,535	$	(198,857)	$	998,678

Other intangible assets	5.7	133,800		(33,078)		100,722		3,000		(1,000)		2,000
Total		1,286,896		(361,665)		925,231		1,200,535		(199,857)		1,000,678
In-process research and development		379,395		—		379,395		382,075		—		382,075
Total intangible assets		$	1,666,291	$	(361,665)	$	1,304,626	$	1,582,610	$	(199,857)	$	1,382,753

Finite-lived Intangible Assets Amortization Expense

Amortization expense related to intangible assets recognized was as follows (in thousands):


	Years Ended December 31,
	2020		2019		2018
Amortization	$	174,967	$	143,952	$	72,986

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

The following table presents future amortization expense for the next five years and thereafter, excluding $379 million of IPR&D intangible assets (in thousands).


	Future Amortization
2021	$	166,688
2022	154,938
2023	143,337
2024	136,887
2025	97,911
Thereafter	225,470
Total	$	925,231

Accounts Payable and Accrued Expenses (Tables)

12 Months Ended

Dec. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Accounts Payable and Accrued Expenses

Accounts payable and accrued expenses were comprised of the following (in thousands):


	December 31, 2020		December 31, 2019
Accounts payable	$	153,140	$	103,021
Accrued returns allowance	174,984		150,361
Accrued compensation	58,922		36,008
Accrued Medicaid and commercial rebates	131,088		114,960
Accrued royalties	21,777		28,969
Commercial chargebacks and rebates	10,226		10,226
Medicaid reimbursement accrual	—		7,000
Accrued professional fees	11,056		12,312
Taxes payable	5,538		8,729
Accrued other	46,930		35,897
Total accounts payable and accrued expenses	$	613,661	$	507,483

Debt (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

The following is a summary of the Company's total indebtedness (in thousands):


	December 31, 2020		December 31, 2019
Term Loan due May 2025	$	2,631,876	$	2,658,876
Rondo Term Loan due 2025	173,250		—
Other	624		624
Total debt	2,805,750		2,659,500
Less: debt issuance costs	(26,258)		(28,975)
Total debt, net of debt issuance costs	2,779,492		2,630,525
Less: current portion of long-term debt	(44,228)		(21,479)
Total long-term debt, net	$	2,735,264	$	2,609,046

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
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-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Other Long-Term Liabilities (Tables)

12 Months Ended

Dec. 31, 2020

Other Liabilities [Abstract]

Schedule of Other Long-Term Liabilities

Other long-term liabilities were comprised of the following (in thousands):


	December 31, 2020		December 31, 2019
Interest rate swap (1)	$	53,903	$	—
Uncertain tax positions	3,065		5,088
Long-term compensation (2)	20,542		22,735
Financing lease liabilities	2,318		3,869
Other long-term liabilities	5,855		7,891
Total other long-term liabilities	$	85,683	$	39,583

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table sets forth the Company’s financial assets and liabilities that were measured at fair value on a recurring basis (in thousands):


	Fair Value Measurement Based on
December 31, 2020	Total		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)


Liabilities
Interest Rate Swap (1)	$	53,903	$	—	$	53,903	$	—
Deferred compensation plan liabilities (2)	$	14,007	$	—	$	14,007	$	—

December 31, 2019
Assets
Interest Rate Swap (1)	$	16,373	$	—	$	16,373	$	—
Liabilities
Deferred compensation plan liabilities (2)	$	18,396	$	—	$	18,396	$	—

(1)The fair value measurement of the Company’s interest rate swap classified within Level 2 of the fair value hierarchy is a model-derived valuation as of a given date in which all significant inputs are observable in active markets including certain financial information and certain assumptions regarding past, present, and future market conditions. Refer to Note 20. Financial Instruments for information about the Company’s interest rate swap.

(2)As of December 31, 2020, deferred compensation plan liabilities of $2 million and $12 million were recorded in current and non-current liabilities, respectively. As of December 31, 2019, deferred compensation plan liabilities of $4 million and $14 million were recorded in current and non-current liabilities, respectively. These liabilities are recorded at the value of the amount owed to the plan participants, with changes in value recognized as compensation expense. The calculation of the deferred compensation plan obligation is derived from observable market data by reference to hypothetical investments selected by the participants.

Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Fair Values of Derivative Instruments in Consolidated Balance Sheets

A summary of the fair values of derivative instruments in the consolidated balance sheets was as follows (in thousands):

December 31, 2020

December 31, 2019

Derivatives Designated as Hedging Instruments

Balance Sheet
Classification

Fair Value

Balance Sheet
Classification

Fair Value

Variable-to-fixed interest rate swap

Other long-term liabilities

$

53,903

Other assets

$

16,373

Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2020

Equity [Abstract]

Schedule of Changes in Accumulated Other Comprehensive Loss by Component

Changes in Accumulated Other Comprehensive Loss by Component (in thousands):


	Foreign currency translation adjustment		Unrealized gain (loss) on cash flow hedge, net of tax		Accumulated other comprehensive loss
Balance December 31, 2018	$	(7,755)	$	—	$	(7,755)
Other comprehensive income before reclassification	(729)		7,764		7,035
Amounts reclassified from accumulated other comprehensive loss	1,461		—		1,461
Reallocation of ownership interests	(809)		—		(809)
Balance December 31, 2019	(7,832)		7,764		(68)
Other comprehensive income before reclassification	(6,643)		(34,560)		(41,203)

Reallocation of ownership interests	(22)		(25)		(47)
Balance December 31, 2020	$	(14,497)	$	(26,821)	$	(41,318)

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

Schedule of Stock Option Activity

The following table summarizes all of the Company's stock option activity for the years ended December 31, 2020, 2019, and 2018:


Stock Options	Number of Shares Under Option	Weighted- Average Exercise Price per Share		Weighted- Average Remaining Contractual Life	Aggregate Intrinsic Value (in millions)
Outstanding at December 31, 2017	—	$	—
Conversion of Impax stock options outstanding on May 4,2018	3,002,669	18.90
Options granted	3,555,808	16.64
Options exercised	(351,668)	10.80
Options forfeited	(392,228)	23.02
Outstanding at December 31, 2018	5,814,581	$	17.73	8.0	$	2.6
Options granted	4,559,820	11.29
Options exercised	(210,806)	6.64
Options forfeited	(3,986,469)	15.07
Outstanding at December 31, 2019	6,177,126	$	8.87	8.2	$	8.0
Options granted	—	—
Options exercised	(116,681)	2.75
Options forfeited	(2,249,216)	16.09
Outstanding at December 31, 2020	3,811,229	$	4.80	7.9	$	5.6
Options exercisable at December 31, 2020	1,806,223	$	7.07	7.7	$	2.0

Schedule of Nonvested Restricted Stock Units Activity

The following table summarizes all of the Company's restricted stock unit activity for the years ended December 31, 2020, 2019, and 2018:


Restricted Stock Units	Number of Restricted Stock Units	Weighted- Average Grant Date Fair Value		Weighted- Average Remaining Years	Aggregate Intrinsic Value (in millions)
Non-vested at December 31, 2017	—	$	—
Granted	1,421,814	17.28
Vested	—	—
Forfeited	(91,190)	19.19
Non-vested at December 31, 2018	1,330,624	$	17.15	3.3	$	18.0
Granted	3,327,308	11.81
Vested	(479,299)	16.10
Forfeited	(1,541,275)	14.46
Non-vested at December 31, 2019	2,637,358	$	12.16	1.7	$	12.7
Granted	8,414,762	3.67
Vested	(692,868)	12.33
Forfeited	(1,226,700)	6.48
Non-vested at December 31, 2020	9,132,552	$	5.09	1.7	$	41.7

Schedule of Weighted Average Assumptions Used in the Option Pricing Model

The following table presents the weighted-average assumptions used in the option pricing model for options granted under the 2018 Plan in the years ended December 31, 2019 and 2018. There were no options granted in the year ended December 31, 2020.


	December 31, 2019			December 31, 2018
Volatility	48.6		%	46.5		%
Risk-free interest rate	2.4		%	2.9		%
Dividend yield	—		%	—		%
Weighted-average expected life (years)	6.17			6.25
Weighted average grant date fair value	$	5.54		$	8.14

Schedule of Employee Service Share-based Compensation

The amount of stock-based compensation expense recognized by the Company was as follows (in thousands):


	Year Ended December 31,
	2020		2019		2018
Cost of goods sold	$	4,166	$	3,166	$	921
Selling, general and administrative	13,343		15,729		6,923
Research and development	3,241		2,784		996
Total	$	20,750	$	21,679	$	8,840

Segment Information (Tables)

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The tables below present segment information reconciled to total Company financial results, with segment operating income or loss including gross profit less direct selling expenses, research and development expenses, and other operating expenses to the extent specifically identified by segment (in thousands):


Year Ended December 31, 2020	Generics (1)(2)		Specialty (2)		AvKARE (1)		Corporate and Other		Total Company
Net revenue	$	1,343,210	$	355,567	$	293,746	$	—	$	1,992,523
Cost of goods sold	894,422		192,910		242,219		—		1,329,551
Cost of goods sold impairment charges	34,579		—		—		—		34,579
Gross profit	414,209		162,657		51,527		—		628,393
Selling, general and administrative	56,134		75,917		58,544		136,132		326,727
Research and development	150,068		29,862		—		—		179,930
In-process research and development impairment charges	2,680		—		—		—		2,680
Acquisition, transaction-related and integration expenses	328		85		641		7,934		8,988
Restructuring and other (credit) charges	(614)		—		—		3,012		2,398
Charges related to legal matters, net	5,610		250		—		—		5,860
Intellectual property legal development expenses	10,647		8		—		—		10,655
Operating income (loss)	$	189,356	$	56,535	$	(7,658)	$	(147,078)	$	91,155


Year Ended December 31, 2019	Generics (2)		Specialty (2)		Corporate and Other		Total Company
Net revenue	$	1,308,843	$	317,530	$	—	$	1,626,373
Cost of goods sold	984,782		162,432		—		1,147,214
Cost of goods sold impairment charges	119,145		7,017		—		126,162
Gross profit	204,916		148,081		—		352,997
Selling, general and administrative	68,883		79,665		141,050		289,598
Research and development	172,196		15,853		—		188,049
In-process research and development impairment charges	46,619		—		—		46,619
Acquisition, transaction-related and integration expenses	4,633		8,346		3,409		16,388
Restructuring and other (credit) charges	20,101		391		13,853		34,345
Charges related to legal matters, net	12,442		—		—		12,442
Intellectual property legal development expenses	13,193		1,045		—		14,238
Operating (loss) income	$	(133,151)	$	42,781	$	(158,312)	$	(248,682)

(1)Operating results for the sale of Amneal products by AvKARE are included in Generics.

(2)During the three months ended September 30, 2019, operating results for Oxymorphone were reclassified from Generics to Specialty, where it is sold as a non-promoted product. Prior period results have not been restated to reflect the reclassification.


Year Ended December 31, 2018	Generics		Specialty		Corporate and Other		Total Company
Net revenue	$	1,439,031	$	223,960	$	—	$	1,662,991
Cost of goods sold	835,181		103,592		—		938,773
Cost of goods sold impairment charges	7,815		—		—		7,815
Gross profit	596,035		120,368		—		716,403
Selling, general and administrative	68,426		49,465		109,955		227,846
Research and development	183,412		10,778		—		194,190
In-process research and development impairment charges	39,259		—		—		39,259
Acquisition, transaction-related and integration expenses	114,622		—		107,196		221,818
Restructuring and other (credit) charges	33,943		4,076		18,394		56,413
(Gains) charges related to legal matters, net	(22,300)		—		2,589		(19,711)
Intellectual property legal development expenses	15,772		489		—		16,261
Operating income (loss)	$	162,901	$	55,560	$	(238,134)	$	(19,673)

Other Assets (Tables)

12 Months Ended

Dec. 31, 2020

Other Assets [Abstract]

Schedule of Other Assets

Other assets are comprised of the following (in thousands):


	December 31, 2020		December 31, 2019
Deferred Revolving Credit Facility costs	$	2,648	$	3,099
Security deposits	2,240		1,938
Long-term prepaid expenses	10,598		6,438
Interest rate swap	—		16,373
ROU assets - financing leases	9,541		11,442
Other long-term assets	6,858		4,980
Total	$	31,885	$	44,270

Nature of Operations and Basis of Presentation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended	12 Months Ended
	May 04, 2018	Jun. 30, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2020
Class of Stock [Line Items]
Shares repurchased percentage	15.00%
Private Placement
Class of Stock [Line Items]
Sale of stock price per share (in dollars per share)	$ 18.25
Gross proceeds from stock issuance	$ 855
PIPE Investors
Class of Stock [Line Items]
Shareholder ownership percentage	15.00%
Holdings
Class of Stock [Line Items]
Ownership percentage by noncontrolling owners	57.00%				51.00%
Holdings \| Private Placement And PPU Holders Distribution
Class of Stock [Line Items]
Decrease in noncontrolling ownership interest percentage	18.00%
Impax Acquisition \| Amneal Holdings, LLC
Class of Stock [Line Items]
Shareholder ownership percentage	75.00%
Impax Acquisition \| Impax Common Stock Holders
Class of Stock [Line Items]
Shareholder ownership percentage	25.00%
Impax Acquisition \| PIPE Investors
Class of Stock [Line Items]
Shareholder ownership percentage	75.00%
Impax Acquisition \| Holdings
Class of Stock [Line Items]
Ownership percentage by parent	25.00%
Ownership percentage by noncontrolling owners	75.00%
Class A Common Stock
Class of Stock [Line Items]
Common stock, par value (in dollars per share)	$ 0.01		$ 0.01		$ 0.01
Conversion of Class B-1 Common Stock (in shares)			12,300,000
Class A Common Stock \| Private Placement
Class of Stock [Line Items]
Sale of stock, number of shares issued in transaction (in shares)	34,500,000
Class A Common Stock \| PPU Holders Distribution
Class of Stock [Line Items]
Sale of stock, number of shares issued in transaction (in shares)	6,900,000	6,886,140		6,900,000
Common Class B
Class of Stock [Line Items]
Common stock, par value (in dollars per share)	$ 0.01		$ 0.01		$ 0.01
Common Class B-1
Class of Stock [Line Items]
Common stock, par value (in dollars per share)	$ 0.01
Conversion of Class B-1 Common Stock (in shares)			12,300,000
Common Class B-1 \| Private Placement
Class of Stock [Line Items]
Sale of stock, number of shares issued in transaction (in shares)	12,300,000
Impax Laboratories, LLC
Class of Stock [Line Items]
Common stock, par value (in dollars per share)	$ 0.01

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Restricted cash	$ 5,743	$ 1,625	$ 5,385
Cost of goods sold	1,329,551	1,147,214	938,773
Finance lease, ROU asset	58,676	61,284
Shipping Costs
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Cost of goods sold	$ 17,000	$ 15,000	$ 21,000

Summary of Significant Accounting Policies - Schedule of Property, Plant and Equipment Estimated Useful Lives (Details)	12 Months Ended
	Dec. 31, 2020
Buildings
Property, Plant and Equipment [Line Items]
Estimated Useful Life	30 years
Computer equipment
Property, Plant and Equipment [Line Items]
Estimated Useful Life	5 years
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Estimated Useful Life	7 years
Leasehold improvements
Property, Plant and Equipment [Line Items]
Estimated Useful Life	Shorter of asset's useful life or remaining life of lease
Machinery and equipment \| Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Life	5 years
Machinery and equipment \| Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Life	10 years
Vehicles
Property, Plant and Equipment [Line Items]
Estimated Useful Life	5 years

Acquisitions and Divestitures - Additional Information (Details) - USD ($)							1 Months Ended						12 Months Ended
	Jan. 31, 2020	May 03, 2019	Mar. 30, 2019	May 07, 2018	May 04, 2018	Sep. 30, 2017	Sep. 30, 2020	May 31, 2019	Apr. 30, 2019	Dec. 31, 2018	Jul. 31, 2018	Oct. 31, 2017	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 10, 2019
Business Acquisition [Line Items]
Acquisition, transaction costs													$ 8,988,000	$ 16,388,000	$ 35,319,000
Goodwill										$ 426,226,000			522,814,000	419,504,000	426,226,000
Net revenue													1,992,523,000	1,626,373,000	1,662,991,000
Operating income													91,155,000	(248,682,000)	(19,673,000)
Amortization														174,967,000	143,952,000	$ 72,986,000
Total consideration, net of cash acquired													251,360,000	0	324,634,000
Acquired non-controlling interest, non-public subsidiary							$ 3,000,000
Acquired non-controlling interest, non-public subsidiary							2,000,000			$ 3,000,000
Payments to acquire additional interest in subsidiaris							$ 1,000,000
Gain (loss) on sale of international businesses													(123,000)	(7,258,000)	2,958,000
Term Loan
Business Acquisition [Line Items]
Principal amount of debt	$ 180,000,000
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Creo Pharma Holding Limited
Business Acquisition [Line Items]
Ownership percentage sold			100.00%
Cash consideration, subsidiary									$ 32,000,000
Carrying value, net assets			$ 22,000,000
Carrying value, intangible assets sold			7,000,000
Carrying value, goodwill			$ 5,000,000
Gain (loss) on sale of international businesses													(100,000)	(9,000,000)
Loss on disposition of business, release of foreign currency translation adjustments														3,000,000
Payment to acquirer for final settlement													500,000
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Amneal Deutschland GmbH
Business Acquisition [Line Items]
Ownership percentage sold		100.00%
Cash consideration, subsidiary								$ 3,000,000
Carrying value, net assets		$ 7,000,000
Carrying value, goodwill		$ 500,000
Gain (loss) on sale of international businesses														2,000,000
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Amneal Nordic ApS, Amneal Pharma Spain S.L.
Business Acquisition [Line Items]
Ownership percentage sold						100.00%
Cash consideration, subsidiary						$ 8,000,000						$ 7,000,000
Closing term remaining												60 days
Carrying value, net assets						13,000,000
Carrying value, intangible assets sold						1,000,000
Carrying value, goodwill						$ 2,000,000
Gain (loss) on sale of international businesses																5,000,000
Loss on disposition of business, release of foreign currency translation adjustments																$ 500,000
Specialty
Business Acquisition [Line Items]
Goodwill													361,000,000	361,000,000
Net revenue													355,567,000	317,530,000	223,960,000
Generics
Business Acquisition [Line Items]
Goodwill													92,000,000	59,000,000
Net revenue													1,343,210,000	1,308,843,000	1,439,031,000
AI Sirona \| Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Creo Pharma Holding Limited
Business Acquisition [Line Items]
Supply agreement period (up to)			2 years
EVER \| Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Amneal Deutschland GmbH
Business Acquisition [Line Items]
Supply agreement period (up to)		18 months
AvKARE
Business Acquisition [Line Items]
Percentage of voting interests acquired																	65.10%
AvKARE \| Generics
Business Acquisition [Line Items]
Goodwill													34,000,000
AvKARE \| AvKARE
Business Acquisition [Line Items]
Goodwill													70,000,000
Impax Acquisition
Business Acquisition [Line Items]
Liabilities incurred					$ 320,290,000
Acquisition, transaction costs													0	0	23,000,000
Goodwill					$ 398,733,000
Measurement consideration transferred, fair value equity interest, percentage					25.00%
Indefinite-lived intangible assets acquired					$ 529,000,000
Total consideration, net of cash acquired					1,646,178,000
Cash acquired from acquisition					$ 37,907,000
Revenue of acquiree since date of acquisition															399,000,000
Income (loss) of acquiree since date of acquisition															(104,000,000)
Impax Acquisition \| Specialty
Business Acquisition [Line Items]
Goodwill													360,000,000
Impax Acquisition \| Generics
Business Acquisition [Line Items]
Goodwill													39,000,000
Impax Acquisition \| Amneal Holdings, LLC
Business Acquisition [Line Items]
Shareholder ownership percentage					75.00%
Gemini Laboratories, LLC Acquisition
Business Acquisition [Line Items]
Percentage of voting interests acquired				98.00%
Consideration paid in cash on hand				$ 43,000,000
Acquisition, transaction costs													0	0	400,000
Goodwill														1,500,000
Indefinite-lived intangible assets acquired														27,000,000
Total consideration, net of cash acquired				120,000,000
Cash acquired from acquisition				4,000,000
Working capital settlement				3,000,000
Final working capital adjustment											$ 3,000,000
Acquisition noncontrolling interest				3,000,000
Additional interest in subsidiaries acquired							2.00%
Revenue of acquiree since date of acquisition															32,000,000
Income (loss) of acquiree since date of acquisition															10,000,000
Gemini Laboratories, LLC Acquisition \| Specialty
Business Acquisition [Line Items]
Goodwill														2,000,000
Gemini Laboratories, LLC Acquisition \| Notes Payable
Business Acquisition [Line Items]
Liabilities incurred				$ 77,000,000
Stated interest rate				3.00%
AvKARE and R&S Acquisitions
Business Acquisition [Line Items]
Total consideration, net of cash acquired	294,248,000
Consideration paid in cash on hand	254,000,000
Working capital costs	2,000,000
Acquisition, transaction costs													1,000,000	$ 0	$ 0
Goodwill	103,679,000												104,000,000
Net revenue													311,000,000
Operating income													4,000,000
Amortization													$ 32,000,000
Acquisition noncontrolling interest	11,475,000
AvKARE and R&S Acquisitions \| Short Term Promissory Notes
Business Acquisition [Line Items]
Liabilities incurred	1,000,000
AvKARE and R&S Acquisitions \| Debt
Business Acquisition [Line Items]
Consideration paid in cash on hand	178,000,000
AvKARE and R&S Acquisitions \| Cash on Hand
Business Acquisition [Line Items]
Consideration paid in cash on hand	76,000,000
AvKARE and R&S Acquisitions \| Long Term Promissory Notes
Business Acquisition [Line Items]
Liabilities incurred	$ 44,000,000
Stated interest rate	5.00%

Acquisitions and Divestitures - Payments to Acquire Business (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands			12 Months Ended
	Jan. 31, 2020	May 04, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Purchase price, net of cash acquired			$ 251,360	$ 0	$ 324,634
AvKARE and R&S Acquisitions
Business Acquisition [Line Items]
Cash	$ 254,000
Settlement of Amneal trade accounts receivable from R&S	6,855
Working capital adjustment	(2,640)
Fair value consideration transferred	294,248
AvKARE and R&S Acquisitions \| Short Term Promissory Notes
Business Acquisition [Line Items]
Short-Term Seller Note	1,000
AvKARE and R&S Acquisitions \| Long Term Promissory Notes
Business Acquisition [Line Items]
Sellers Notes	35,033
Short-Term Seller Note	44,000
Unamortized discount	$ 9,000
Impax Acquisition
Business Acquisition [Line Items]
Short-Term Seller Note		$ 320,290
Fully diluted Impax share number (in shares)		73,288,792
Closing quoted market price of an Impax common share on May 4, 2018 (in dollars per share)		$ 18.30
Equity consideration - subtotal		$ 1,341,185
Add: Fair value of Impax stock options as of May 4, 2018		22,610
Total equity consideration		1,363,795
Less: Cash acquired		(37,907)
Purchase price, net of cash acquired		$ 1,646,178
Number of shares issued, fully vested stock options (in shares)		3,000

Acquisitions and Divestitures - Purchase Price Allocation for Acquisitions (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Jan. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	May 07, 2018	May 04, 2018
Business Acquisition [Line Items]
Goodwill	$ 522,814		$ 419,504	$ 426,226
AvKARE and R&S Acquisitions
Business Acquisition [Line Items]
Trade accounts receivable, net		$ 46,702
Inventories		71,908
Prepaid expenses and other current assets		11,316
Related party receivables		61
Property, plant and equipment		5,278
Goodwill	$ 104,000	103,679
Intangible assets, net		130,800
Operating lease right-of-use assets - related party		5,544
Total assets acquired		375,288
Accounts payable and accrued expenses		62,489
Related party payables		1,532
Operating lease liabilities - related party		5,544
Redeemable non-controlling interests		11,475
Fair value of consideration transferred		294,248
Total liabilities assumed		$ 69,565
Impax Acquisition
Business Acquisition [Line Items]
Trade accounts receivable, net						$ 210,820
Inventories						183,088
Prepaid expenses and other current assets						91,430
Property, plant and equipment						87,472
Goodwill						398,733
Intangible assets, net						1,574,929
Other						55,790
Total assets acquired						2,602,262
Accounts payable						47,912
Accrued expenses and other current liabilities						274,979
Long-term debt						599,400
Other long-term liabilities						33,793
Total liabilities assumed						956,084
Net assets acquired						$ 1,646,178
Gemini Laboratories, LLC Acquisition
Business Acquisition [Line Items]
Trade accounts receivable, net			8,158
Inventories			1,851
Prepaid expenses and other current assets			3,795
Property, plant and equipment			11
Goodwill			1,500
Intangible assets, net			142,740
Other			324
Total assets acquired			158,379
Accounts payable			1,764
Accrued expenses and other current liabilities			14,644
Redeemable non-controlling interests					$ 3,000
License liability			20,000
Total liabilities assumed			36,408
Net assets acquired			$ 121,971

Acquisitions and Divestitures - Acquired Intangible Assets (Details) - USD ($) $ in Thousands		12 Months Ended
	May 04, 2018	Dec. 31, 2020	Dec. 31, 2019
Impax Acquisition
Acquired Finite-Lived Intangible Assets [Line Items]
Final Fair Values	$ 1,045,617
Weighted-Average Useful Life (in years)	12 years 10 months 24 days
Gemini Laboratories, LLC Acquisition
Acquired Finite-Lived Intangible Assets [Line Items]
Final Fair Values			$ 116,240
Gemini Laboratories, LLC Acquisition \| Product rights for licensed / developed technology
Acquired Finite-Lived Intangible Assets [Line Items]
Final Fair Values			$ 110,350
Weighted-Average Useful Life (in years)			10 years
Gemini Laboratories, LLC Acquisition \| Product rights for developed technologies
Acquired Finite-Lived Intangible Assets [Line Items]
Final Fair Values			$ 5,500
Weighted-Average Useful Life (in years)			9 years
Gemini Laboratories, LLC Acquisition \| Product rights for out-licensed generics royalty agreement
Acquired Finite-Lived Intangible Assets [Line Items]
Final Fair Values			$ 390
Weighted-Average Useful Life (in years)			2 years
AvKARE and R&S Acquisitions
Acquired Finite-Lived Intangible Assets [Line Items]
Final Fair Values		$ 130,800
AvKARE and R&S Acquisitions \| Government licenses
Acquired Finite-Lived Intangible Assets [Line Items]
Final Fair Values		$ 66,700
Weighted-Average Useful Life (in years)		7 years
AvKARE and R&S Acquisitions \| Government contracts
Acquired Finite-Lived Intangible Assets [Line Items]
Final Fair Values		$ 22,000
Weighted-Average Useful Life (in years)		4 years
AvKARE and R&S Acquisitions \| National contracts
Acquired Finite-Lived Intangible Assets [Line Items]
Final Fair Values		$ 28,600
Weighted-Average Useful Life (in years)		5 years
AvKARE and R&S Acquisitions \| Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Final Fair Values		$ 13,000
Weighted-Average Useful Life (in years)		10 years
AvKARE and R&S Acquisitions \| Trade name
Acquired Finite-Lived Intangible Assets [Line Items]
Final Fair Values		$ 500
Weighted-Average Useful Life (in years)		6 years

Acquisitions and Divestitures - Pro Forma (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Business Combinations [Abstract]
Net revenue	$ 2,023,231	$ 1,933,042
Net income (loss)	68,588	(594,040)
Net income (loss) attributable to Amneal Pharmaceuticals, Inc.	$ 91,062	$ (359,140)

Revenue Recognition - Additional Information (Details) - customer	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Concentration Risk [Line Items]
Concentration risk, number of largest customers	3	3	3
Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk, number of largest customers	3	3
Sales Revenue, Gross \| Three Largest Customers \| Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk percentage	83.00%	81.00%	83.00%

Revenue Recognition - Schedule of Disaggregated Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Net revenue	$ 1,992,523	$ 1,626,373	$ 1,662,991
Generics
Disaggregation of Revenue [Line Items]
Net revenue	1,343,210	1,308,843	1,439,031
Generics \| International and other
Disaggregation of Revenue [Line Items]
Net revenue	2,333	23,459	59,994
Specialty
Disaggregation of Revenue [Line Items]
Net revenue	355,567	317,530	223,960
AvKARE
Disaggregation of Revenue [Line Items]
Net revenue	293,746	0	0
Anti-Infective \| Generics \| US
Disaggregation of Revenue [Line Items]
Net revenue	40,381	36,320	37,988
Hormonal/Allergy \| Generics \| US
Disaggregation of Revenue [Line Items]
Net revenue	355,581	364,658	246,765
Hormonal/Allergy \| Specialty \| US
Disaggregation of Revenue [Line Items]
Net revenue	54,631	45,547	29,048
Antiviral \| Generics \| US
Disaggregation of Revenue [Line Items]
Net revenue	25,724	27,488	44,334
Central Nervous System \| Generics \| US
Disaggregation of Revenue [Line Items]
Net revenue	422,405	423,416	476,046
Central Nervous System \| Specialty \| US
Disaggregation of Revenue [Line Items]
Net revenue	285,737	235,846	146,812
Cardiovascular System \| Generics \| US
Disaggregation of Revenue [Line Items]
Net revenue	114,226	117,065	182,990
Gastroenterology \| Generics \| US
Disaggregation of Revenue [Line Items]
Net revenue	78,165	42,783	52,878
Gastroenterology \| Specialty \| US
Disaggregation of Revenue [Line Items]
Net revenue	1,597	4,223	1,141
Oncology \| Generics \| US
Disaggregation of Revenue [Line Items]
Net revenue	61,113	62,721	40,347
Metabolic Disease/Endocrine \| Generics \| US
Disaggregation of Revenue [Line Items]
Net revenue	45,004	55,786	68,448
Metabolic Disease/Endocrine \| Specialty \| US
Disaggregation of Revenue [Line Items]
Net revenue	646	894	1,306
Respiratory \| Generics \| US
Disaggregation of Revenue [Line Items]
Net revenue	37,389	34,920	49,651
Dermatology \| Generics \| US
Disaggregation of Revenue [Line Items]
Net revenue	58,168	60,186	40,010
Distribution \| AvKARE \| US
Disaggregation of Revenue [Line Items]
Net revenue	161,673	0	0
Government Label \| AvKARE \| US
Disaggregation of Revenue [Line Items]
Net revenue	104,054	0	0
Institutional \| AvKARE \| US
Disaggregation of Revenue [Line Items]
Net revenue	18,546	0	0
Other \| Generics \| US
Disaggregation of Revenue [Line Items]
Net revenue	102,721	60,041	139,580
Other \| Specialty \| US
Disaggregation of Revenue [Line Items]
Net revenue	12,956	31,020	45,653
Other \| AvKARE \| US
Disaggregation of Revenue [Line Items]
Net revenue	$ 9,473	$ 0	$ 0

Revenue Recognition - Schedule of Major Categories of Sales-Related Deductions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Contract Charge- backs and Sales Volume Allowances
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance, Beginning of Period	$ 829,807	$ 829,596	$ 453,703
Liabilities assumed from acquisitions	12,444		222,970
Provision related to sales recorded in the period	3,930,682	4,628,084	3,463,983
Credits/payments issued during the period	(4,144,909)	(4,627,873)	(3,311,060)
Balance, End of Period	628,024	829,807	829,596
Cash Discount Allowances
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance, Beginning of Period	34,308	36,157	20,408
Liabilities assumed from acquisitions	944		11,781
Provision related to sales recorded in the period	118,525	136,005	117,010
Credits/payments issued during the period	(131,087)	(137,854)	(113,042)
Balance, End of Period	22,690	34,308	36,157
Accrued Returns Allowance
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance, Beginning of Period	150,361	154,503	45,175
Liabilities assumed from acquisitions	11,606		102,502
Provision related to sales recorded in the period	110,556	104,664	85,996
Credits/payments issued during the period	(97,539)	(108,806)	(79,170)
Balance, End of Period	174,984	150,361	154,503
Accrued Medicaid and Commercial Rebates
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance, Beginning of Period	114,960	74,202	12,911
Liabilities assumed from acquisitions	10		51,618
Provision related to sales recorded in the period	133,748	202,635	104,664
Credits/payments issued during the period	(117,630)	(161,877)	(94,991)
Balance, End of Period	$ 131,088	$ 114,960	$ 74,202

Alliance and Collaboration - Additional Information (Details) - USD ($)			1 Months Ended		3 Months Ended	12 Months Ended			54 Months Ended
	Aug. 16, 2018	May 07, 2018	Apr. 30, 2019	Nov. 30, 2018	Jun. 30, 2016	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2020	Mar. 22, 2019
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Expensed to costs of goods sold						$ 1,329,551,000	$ 1,147,214,000	$ 938,773,000
Research and development						179,930,000	188,049,000	194,190,000
JSP License And Commercialization Agreement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Collaborative arrangement term	10 years
Accrued up-front license contingent payment										$ 50,000,000
Payment of up-front license contingent payment			$ 50,000,000
JSP And Lannett Company Transition Agreement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Payment of non-refundable payment				$ 47,000,000
Expensed to costs of goods sold							37,000,000	10,000,000
JSP And Lannett Company Transition Agreement \| Unsold Inventory
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Expensed to costs of goods sold							1,000,000
Biosimilar Licensing and Supply Agreement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Collaborative arrangement maximum contingent payments amount		$ 72,000,000
Research and development						5,000,000	5,000,000
Astra Zeneca
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Collaborative arrangement reduced royalty					$ 30,000,000				$ 30,000,000
Astra Zeneca \| Royalty
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Expensed to costs of goods sold						$ 17,000,000	$ 19,000,000	$ 15,000,000

Restructuring and Other Charges - Additional Information (Details) - New York Manufacturing And New Jersey Packaging Facilities - employee		12 Months Ended
	Jul. 10, 2019	Dec. 31, 2020
Restructuring Cost and Reserve [Line Items]
Headcount reduction		280
Minimum
Restructuring Cost and Reserve [Line Items]
Expected reduction to headcount	300
Maximum
Restructuring Cost and Reserve [Line Items]
Expected reduction to headcount	350

Restructuring and Other Charges - Restructuring and Asset-related Costs and Charges By Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Restructuring Cost and Reserve [Line Items]
Employee restructuring separation charges	$ 2,398	$ 34,345	$ 56,413
Operating Segments \| Generics
Restructuring Cost and Reserve [Line Items]
Employee restructuring separation charges	(614)	20,101	33,943
Corporate
Restructuring Cost and Reserve [Line Items]
Employee restructuring separation charges	3,012	13,853	18,394
Severance charges
Restructuring Cost and Reserve [Line Items]
Employee restructuring separation charges	(119)	11,121	45,118
Other employee severance charges	3,053	10,765	0
Asset-related charges
Restructuring Cost and Reserve [Line Items]
Employee restructuring separation charges	(536)	12,459	11,295
Employee and asset-related restructuring charges
Restructuring Cost and Reserve [Line Items]
Employee restructuring separation charges	(655)	23,580	56,413
Employee and asset-related restructuring charges \| Operating Segments \| Generics
Restructuring Cost and Reserve [Line Items]
Employee restructuring separation charges	(655)	20,101	33,943
Employee and asset-related restructuring charges \| Operating Segments \| Specialty
Restructuring Cost and Reserve [Line Items]
Employee restructuring separation charges	0	391	4,076
Employee and asset-related restructuring charges \| Corporate
Restructuring Cost and Reserve [Line Items]
Employee restructuring separation charges	$ 0	$ 3,088	$ 18,394

Restructuring and Other Charges - Restructuring Rollforward (Details) - Employee Restructuring $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($)
Restructuring Reserve [Roll Forward]
Beginning balance	$ 3,900
Credit to income	(119)
Payments	(2,189)
Ending balance	$ 1,592

Acquisition, Transaction-Related and Integration Expenses - Summary of Acquisition, Transaction-Related and Integration Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jun. 30, 2021
Business Acquisition [Line Items]
Acquisition, transaction-related and integration expenses	$ 8,988	$ 16,388	$ 35,319
Profit participation units	0	0	158,757
Transaction-related bonus	0	0	27,742
Total	$ 8,988	$ 16,388	$ 221,818
Kashiv Specialty Pharmaceuticals, LLC \| Subsequent Event \| Forecast
Business Acquisition [Line Items]
Percentage of voting interests acquired				98.00%

Acquisition, Transaction-Related and Integration Expenses - Additional Information (Details) - USD ($) $ in Thousands		3 Months Ended	12 Months Ended
	May 04, 2018	Jun. 30, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Profit participation units			$ 0	$ 0	$ 158,757
PPU Holders Distribution \| Class A Common Stock
Business Acquisition [Line Items]
Sale of stock, number of shares issued in transaction (in shares)	6,900,000	6,886,140			6,900,000
Accelerated vesting of profit participation units, fair value		$ 126,000			$ 126,000
Accelerated vesting cash payment		$ 33,000			33,000
Profit participation units					$ 159,000

Income taxes - Additional Information (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Jul. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Operating Loss Carryforwards [Line Items]
Valuation allowance		$ 422,812	$ 470,193	$ 41,235	$ 41,617
Percentage of tax receivable agreement paid to other holders of Amneal common units		85.00%
Reversal of accrued tax receivable agreement liability			193,000
Liabilities under tax receivable agreement		$ 206,000
Income tax (benefit) provision		$ (104,358)	$ 383,331	$ (1,419)
Effective tax rate, percent		291.70%	(174.00%)	0.70%
Income tax rate reconciliation		$ 110,000
Income tax receivable, amount refunded	$ 106,000
Income tax receivable, interest	4,000
Net operating loss carryforwards				$ 345,000
Deferred tax assets, discrete income tax benefit		$ (110,000)
Net operating loss, CARES Act	$ 110,000
Income tax returns subject to examination period		3 years
Unrecognized tax benefits		$ 5,368	$ 6,176	7,206	$ 0
Unrecognized tax benefits that would impact the effective tax rate		5,000	6,000	7,000
Unrecognized tax benefits, net interest expense		(300)	400
Unrecognized tax benefits, accrued interest expense		800	1,000	600
Undistributed earnings of foreign subsidiaries		87,000
Foreign
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards		$ 161,000
Unused operating loss carryforwards expiration start year		2023
Unused operating loss carryforwards expiration end year		2025
Federal
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards		$ 215,000
Federal \| R&D Credit Carryforwards
Operating Loss Carryforwards [Line Items]
Credit carryforwards		$ 11,000
Unused credit carryforwards expiration start year		2034
Unused credit carryforwards expiration end year		2040
State
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards		$ 164,000
Unused operating loss carryforwards expiration start year		2035
Unused operating loss carryforwards expiration end year		2040
State \| R&D Credit Carryforwards
Operating Loss Carryforwards [Line Items]
Credit carryforwards		$ 10,000
Ministry of Finance, India \| Foreign
Operating Loss Carryforwards [Line Items]
Effective tax rate, percent		34.90%
Income tax returns subject to examination period		3 years
Minimum Alternate Tax (MAT), rate		21.50%
Income tax holiday, effect on earnings		$ 3,000	$ 4,000	$ 2,000
Swiss Federal Tax Administration (FTA) , Switzerland \| Foreign
Operating Loss Carryforwards [Line Items]
Income tax returns subject to examination period		5 years
Her Majesty's Revenue and Customs (HMRC), United Kingdom \| Foreign
Operating Loss Carryforwards [Line Items]
Income tax returns subject to examination period		2 years
Minimum \| Ministry of Finance, India \| Foreign
Operating Loss Carryforwards [Line Items]
Income tax holiday, termination year		2028
Maximum \| Ministry of Finance, India \| Foreign
Operating Loss Carryforwards [Line Items]
Income tax holiday, income tax benefits granted period		15 years
Income tax holiday, termination year		2030

Income taxes - Components of (Loss) Income Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Operating Loss Carryforwards [Line Items]
Total loss before income taxes	$ (35,780)	$ (220,242)	$ (202,722)
United States
Operating Loss Carryforwards [Line Items]
Total loss before income taxes	(99,966)	(291,608)	(138,484)
International
Operating Loss Carryforwards [Line Items]
Total loss before income taxes	$ 64,186	$ 71,366	$ (64,238)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 20
-Section 25
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=68072869&loc=d3e41242-110953

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(8))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI http://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ Details

Income taxes - Provision for (Benefit From) Income Tax Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current:
Domestic	$ (113,754)	$ (2,760)	$ 2,299
Foreign	9,396	14,375	5,721
Total current income tax	(104,358)	11,615	8,020
Deferred:
Domestic	0	365,546	(2,967)
Foreign	0	6,170	(6,472)
Total deferred income tax	0	371,716	(9,439)
Total provision for (benefit from) income tax	$ (104,358)	$ 383,331	$ (1,419)

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Income taxes - Effective Income Tax Rate (Details)	12 Months Ended
Income taxes - Effective Income Tax Rate (Details)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Federal income tax at the statutory rate	21.00%	21.00%	21.00%
State income tax, net of federal benefit	(2.00%)	(15.10%)	(1.10%)
Losses for which no benefit has been recognized	(29.80%)	(25.80%)	(12.30%)
Foreign rate differential	(7.10%)	(5.50%)	(6.30%)
TRA Revaluation	0.00%	18.40%	0.20%
CARES Act	139.90%	0.00%	0.00%
Valuation Allowance	163.20%	(168.20%)	0.00%
Other	6.50%	1.20%	(0.80%)
Effective income tax rate	291.70%	(174.00%)	0.70%

Income taxes - Deferred Tax Assets, Changes in Valuation Allowance (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Deferred Tax Assets, Valuation Allowance [Roll Forward]
Balance at the beginning of the period	$ 470,193	$ 41,235	$ 41,617
(Decrease) increase due to net operating losses and temporary differences	(54,971)	424,692	(382)
(Decrease) increase recorded against APIC	(1,631)	4,266	0
Increase recorded against OCI	9,221	0	0
Balance at the end of the period	$ 422,812	$ 470,193	$ 41,235

Income taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Deferred tax assets:
Partnership interest in Amneal	$ 212,402	$ 226,049
Projected imputed interest on TRA	25,539	25,278
Net operating loss carryforward	77,255	119,088
IRC Section 163(j) interest carryforward	45,425	44,978
Capitalized costs	1,502	0
Accrued expenses	410	304
Intangible assets	28,400	31,677
Tax credits and other	31,879	22,819
Total deferred tax assets	422,812	470,193
Valuation allowance	(422,812)	(470,193)	$ (41,235)	$ (41,617)
Net deferred tax assets	$ 0	$ 0

Income taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefits at the beginning of the period	$ 6,176	$ 7,206	$ 0
Gross change for current period positions	125	83	182
Gross change for prior period positions	443		2,346
Gross change for prior period positions		(732)
Gross change due to Combination	0	0	5,208
Decrease due to expiration of statutes of limitations	0	0	(530)
Decrease due to settlements and payments	(1,376)	(381)	0
Unrecognized tax benefits at the end of the period	$ 5,368	$ 6,176	$ 7,206

Earnings (Loss) per Share - Computation of Basic and Diluted Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Numerator:
Net income (loss) attributable to Amneal Pharmaceuticals, Inc.	$ 91,059	$ (361,917)	$ (20,920)
Denominator:
Class A and Class B-1 basic (in shares)	147,443	132,106	127,252
Effect of dilutive securities
Weighted-average shares outstanding - diluted (in shares)	148,913	132,106	127,252
Net income (loss) per share attributable to Amneal Pharmaceuticals, Inc.'s common stockholders:
Class A and Class B-1 basic (in dollars per share)	$ 0.62	$ (2.74)	$ (0.16)
Class A and Class B-1 diluted (in dollars per share)	$ 0.61	$ (2.74)	$ (0.16)
Class B-1 Common Stock
Net income (loss) per share attributable to Amneal Pharmaceuticals, Inc.'s common stockholders:
Conversion of Class B-1 Common Stock (in shares)		12,300
Stock Options
Effect of dilutive securities
Effect of dilutive securities (in shares)	348	0	0
Restricted Stock Units
Effect of dilutive securities
Effect of dilutive securities (in shares)	1,122	0	0

Earnings (Loss) per Share - Securities Excluded from Diluted Earnings per Share Computation (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Class B Common Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from earnings per share (in shares)	152,117	152,117	171,261
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from earnings per share (in shares)	671	6,177	5,815
Restricted Stock Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from earnings per share (in shares)	0	2,478	1,331
Performance Stock Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from earnings per share (in shares)	2,973	159	0

Trade Accounts Receivable, Net - Schedule of Trade Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Receivables [Abstract]
Gross accounts receivable	$ 1,291,785	$ 1,470,706
Allowance for doubtful accounts	(1,396)	(2,201)
Contract charge-backs and sales volume allowances	(628,804)	(829,807)
Cash discount allowances	(22,690)	(34,308)
Subtotal	(652,890)	(866,316)
Trade accounts receivable, net	$ 638,895	$ 604,390

Trade Accounts Receivable, Net - Additional Information (Details) - customer	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Concentration Risk [Line Items]
Concentration risk, number of largest customers	3	3	3
Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk, number of largest customers	3	3
Customer Concentration Risk \| Accounts Receivable
Concentration Risk [Line Items]
Concentration risk percentage	10.00%	10.00%
Customer Concentration Risk \| Accounts Receivable \| Customer A
Concentration Risk [Line Items]
Concentration risk percentage	39.00%	39.00%
Customer Concentration Risk \| Accounts Receivable \| Customer B
Concentration Risk [Line Items]
Concentration risk percentage	26.00%	25.00%
Customer Concentration Risk \| Accounts Receivable \| Customer C
Concentration Risk [Line Items]
Concentration risk percentage	20.00%	25.00%

Inventories - Components of Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Raw materials	$ 209,180	$ 172,159
Work in process	40,937	58,188
Finished goods	240,532	150,720
Total inventories	$ 490,649	$ 381,067

Inventories - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Inventory [Line Items]
Cost of goods sold	$ 1,329,551,000	$ 1,147,214,000	$ 938,773,000
Inventories	$ 490,649,000	381,067,000
Ranitidine-Based Product
Inventory [Line Items]
Inventories		0
Generics
Inventory [Line Items]
Cost of goods sold		$ 5,000,000

Leases - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Lessee, Lease, Description [Line Items]
Operating and finance lease, rent expense	$ 26,000	$ 26,000	$ 18,000
Operating lease right of use assets impairment loss	1,000	2,000
Financing lease right-of-use assets - related party	58,676	61,284
Other Assets
Lessee, Lease, Description [Line Items]
Financing lease right-of-use assets - related party	10,000	11,000
Accounts Payable and Accrued Expenses
Lessee, Lease, Description [Line Items]
Financing short-term lease liabilities	2,000	1,000
Other Noncurrent Liabilities [Member]
Lessee, Lease, Description [Line Items]
Financing long-term lease liabilities	$ 2,000	$ 4,000
Minimum
Lessee, Lease, Description [Line Items]
Operating and finance lease term	1 year
Minimum \| International Land Easements
Lessee, Lease, Description [Line Items]
Operating and finance lease term	30 years
Maximum
Lessee, Lease, Description [Line Items]
Operating and finance lease term	24 years
Maximum \| International Land Easements
Lessee, Lease, Description [Line Items]
Operating and finance lease term	99 years

Leases - Components of Total Lease Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease cost	$ 21,664	$ 22,544
Finance lease cost:
Amortization of right-of-use assets	4,497	3,468
Interest on lease liabilities	4,773	4,641
Total finance lease cost	9,270	8,109
Total lease cost	$ 30,934	$ 30,653

Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Operating leases
Operating lease right-of-use assets	$ 58,739	$ 69,872
Total operating lease liabilities	62,525	73,025
Financing leases
Financing lease right-of-use assets - related party	58,676	61,284
Total financing lease liabilities	61,351	62,517
Excluding Related Party
Operating leases
Operating lease right-of-use assets	33,947	53,344
Operating lease liabilities	30,182	43,135
Current portion of operating lease liabilities	6,474	11,874
Related Party
Operating leases
Operating lease right-of-use assets	24,792	16,528
Operating lease liabilities	23,049	15,469
Current portion of operating lease liabilities	2,820	2,547
Financing leases
Financing lease right-of-use assets - related party	58,676	61,284
Financing lease liabilities - related party	60,193	61,463
Current portion of financing lease liabilities - related party	$ 1,158	$ 1,054

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	$ 4,773	$ 4,272
Operating cash flows from operating leases	18,780	20,122
Financing cash flows from finance leases	2,768	2,256
Non-cash activity:
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 3,305	$ 4,874

Leases - Term and Discount Rate Information (Details)	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Weighted average remaining lease term - operating leases	6 years	6 years
Weighted average remaining lease term - finance leases	21 years	22 years
Weighted average discount rate - operating leases	7.10%	6.80%
Weighted average discount rate - finance leases	7.10%	7.10%

Leases - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Operating Leases
2021	$ 13,473	$ 18,970
2022	13,402	17,052
2023	13,446	13,426
2024	12,246	11,244
2025	8,961	9,864
2025		7,143
Thereafter	16,822	12,846
Total lease payments	78,350	90,545
Less: Imputed interest	(15,825)	(17,520)
Total	62,525	73,025
Financing Leases
2021	5,474	5,474
2022	5,474	5,474
2023	5,474	5,474
2024	5,474	5,474
2025	5,474	5,474
2025		5,474
Thereafter	95,335	95,792
Total lease payments	122,705	128,636
Less: Imputed interest	(61,354)	(66,119)
Total	$ 61,351	$ 62,517

Prepaid Expenses and Other Current Assets - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Deposits and advances	$ 1,696	$ 1,123
Prepaid insurance	6,916	3,858
Prepaid regulatory fees	3,565	4,016
Income and other tax receivable	11,882	13,740
Prepaid taxes	5,542	3,255
Other current receivables	17,117	15,996
Other prepaid assets	21,836	28,176
Chargeback receivable	4,913	0
Total prepaid expenses and other current assets	$ 73,467	$ 70,164

Property, Plant, and Equipment, Net - Summary of Property, Plant, and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Total property, plant, and equipment	$ 809,893	$ 754,042
Less: Accumulated depreciation	(332,139)	(276,045)
Property, plant, and equipment, net	477,754	477,997
Land
Property, Plant and Equipment [Line Items]
Total property, plant, and equipment	4,937	4,387
Buildings
Property, Plant and Equipment [Line Items]
Total property, plant, and equipment	210,122	203,424
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property, plant, and equipment	108,698	103,186
Machinery and equipment
Property, Plant and Equipment [Line Items]
Total property, plant, and equipment	354,599	326,045
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total property, plant, and equipment	10,992	10,744
Vehicles
Property, Plant and Equipment [Line Items]
Total property, plant, and equipment	1,360	1,330
Computer equipment
Property, Plant and Equipment [Line Items]
Total property, plant, and equipment	47,729	40,523
Construction-in-progress
Property, Plant and Equipment [Line Items]
Total property, plant, and equipment	$ 71,456	$ 64,403

Property, Plant, and Equipment, Net - Depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Depreciation	$ 60,420	$ 63,283	$ 64,417

Property, Plant, and Equipment, Net - Additional Information (Details) - USD ($) $ in Thousands		12 Months Ended
	Dec. 31, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Sale of real estate and equipment in Hayward, California	$ 25,000	$ 0	$ 0	$ 25,344
Other Income (Expense)
Property, Plant and Equipment [Line Items]
Gain on sale of real estate and equipment in Hayward, California	$ 400

Goodwill and Intangible Assets - Additional Information (Details) $ in Thousands		12 Months Ended
	Oct. 01, 2020	Dec. 31, 2020 USD ($) product	Dec. 31, 2019 USD ($) product	Dec. 31, 2018 USD ($)
Goodwill [Line Items]
Goodwill \| $		$ 522,814	$ 419,504	$ 426,226
Number of products experiencing impairment			13
In-process research and development \| $		$ 379,395	$ 382,075
In-process research and development
Goodwill [Line Items]
Number of products experiencing impairment		4	7
Number of products experiencing price erosion			5
Number of products experiencing an estimated launch date delay		3
Number of products experiencing increased competition at launch			1
Number of products no longer pursuing approval			1
Marketed products
Goodwill [Line Items]
Number of products experiencing impairment		6	6
Number of products experiencing price erosion		4
Number of products contract terminated		1
Number of products supply agreement ended		1
Minimum \| Long-term Revenue Growth Rate
Goodwill [Line Items]
Goodwill inputs, percentage	0.00%
Minimum \| Discount Rate
Goodwill [Line Items]
Goodwill inputs, percentage	8.50%
Maximum \| Long-term Revenue Growth Rate
Goodwill [Line Items]
Goodwill inputs, percentage	1.00%
Maximum \| Discount Rate
Goodwill [Line Items]
Goodwill inputs, percentage	13.00%
Generics
Goodwill [Line Items]
Goodwill \| $		$ 92,000	$ 59,000
Percentage of fair value in excess of carrying amount		102.00%
Impairment charges \| $		$ 37,000	173,000
Generics \| In-process research and development
Goodwill [Line Items]
Impairment charges \| $		3,000	47,000
Generics \| Cost of goods sold
Goodwill [Line Items]
Impairment charges \| $		34,000	126,000
Specialty
Goodwill [Line Items]
Goodwill \| $		$ 361,000	$ 361,000
Percentage of fair value in excess of carrying amount		37.00%
AvKARE
Goodwill [Line Items]
Goodwill \| $		$ 70,000
Percentage of fair value in excess of carrying amount		48.00%

Goodwill and Intangible Assets - Schedule of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Goodwill [Roll Forward]
Balance, beginning of period	$ 419,504	$ 426,226
Impax acquisition adjustment	0	(1,255)
Goodwill acquired during the period	103,679	0
Goodwill divested during the period	0	(5,175)
Currency translation	(369)	(292)
Balance, end of period	$ 522,814	$ 419,504

Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Cost	$ 1,286,896	$ 1,200,535
Accumulated Amortization	(361,665)	(199,857)
Net	925,231	1,000,678
In-process research and development	379,395	382,075
Intangible assets, cost	1,666,291	1,582,610
Intangible assets, net	1,304,626	1,382,753
In-process research and development
Finite-Lived Intangible Assets [Line Items]
Accumulated Amortization	$ 0	0
Product rights
Finite-Lived Intangible Assets [Line Items]
Weighted- Average Amortization Period (in years)	9 years
Cost	$ 1,153,096	1,197,535
Accumulated Amortization	(328,587)	(198,857)
Net	$ 824,509	998,678
Other intangible assets
Finite-Lived Intangible Assets [Line Items]
Weighted- Average Amortization Period (in years)	5 years 8 months 12 days
Cost	$ 133,800	3,000
Accumulated Amortization	(33,078)	(1,000)
Net	$ 100,722	$ 2,000

Goodwill and Intangible Assets - Amortization Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization	$ 174,967	$ 143,952	$ 72,986

Goodwill and Intangible Assets - Future Amortization Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
2021	$ 166,688
2022	154,938
2023	143,337
2024	136,887
2025	97,911
Thereafter	225,470
Net	$ 925,231	$ 1,000,678

Accounts Payable and Accrued Expenses - Schedule of Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Accounts Payable and Accrued Liabilities [Line Item]
Accounts payable	$ 153,140	$ 103,021
Accrued returns allowance	174,984	150,361
Accrued compensation	58,922	36,008
Accrued Medicaid and commercial rebates	131,088	114,960
Accrued royalties	21,777	28,969
Medicaid reimbursement accrual	0	7,000
Accrued professional fees	11,056	12,312
Taxes payable	5,538	8,729
Accrued other	46,930	35,897
Total accounts payable and accrued expenses	613,661	507,483
Teva Transaction
Accounts Payable and Accrued Liabilities [Line Item]
Estimated Teva and Allergan chargebacks and rebates	$ 10,226	$ 10,226

Accounts Payable and Accrued Expenses - Schedule of Accounts Payable and Accrued Liabilities Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Teva Transaction
Accounts Payable and Accrued Liabilities [Line Item]
Chargebacks and rebates, remaining in accounts payable and accrued expenses	$ 10,226	$ 10,226

Debt - Summary of Long-term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Long-term debt	$ 2,805,750	$ 2,659,500
Less: debt issuance costs	(26,258)	(28,975)
Total debt, net of debt issuance costs	2,779,492	2,630,525
Less: current portion of long-term debt	(44,228)	(21,479)
Total long-term debt, net	2,735,264	2,609,046
Other
Debt Instrument [Line Items]
Long-term debt	624	624
Term Loan due May 2025
Debt Instrument [Line Items]
Long-term debt	2,631,876	2,658,876
Rondo Term Loan due 2025
Debt Instrument [Line Items]
Long-term debt	$ 173,250	$ 0

Debt - Additional Information (Details) - USD ($)		12 Months Ended
Debt - Additional Information (Details) - USD ($)	Jan. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Mar. 31, 2020	Oct. 31, 2019	May 04, 2018
Debt Instrument [Line Items]
Loss on extinguishment of debt		$ 0	$ 0	$ 19,667,000
Amortization of debt issuance costs		$ 8,678,000	6,478,000	5,859,000
Interest Rate Lock Agreement
Debt Instrument [Line Items]
Notional amount						$ 1,300,000,000
Rondo Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate		3.00%
Commitment fee, as a percent	0.25%
Commitment fee percentage on unused capacity		0.40%
Debt issuance costs, gross	$ 1,000,000
Rondo Credit Facility \| Minimum
Debt Instrument [Line Items]
Commitment fee percentage on unused capacity		0.25%
Rondo Credit Facility \| Maximum
Debt Instrument [Line Items]
Commitment fee percentage on unused capacity		0.50%
Amortization of debt issuance costs		$ 1,000,000
Rondo Term Loan
Debt Instrument [Line Items]
Principal amount of debt	$ 180,000,000
Quarterly installment rate	5.00%
Debt issuance costs, gross	$ 3,000,000
Rondo Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 30,000,000
Outstanding borrowings on credit facility		0
Term Loan due May 2025
Debt Instrument [Line Items]
Amortization of debt issuance costs		6,000,000	$ 6,000,000	$ 6,000,000
Senior Secured Credit Facility
Debt Instrument [Line Items]
Required principal payment		14,000,000
Repayments of principal in next twelve months		27,000,000
Repayments of principal in year two		27,000,000
Repayments of principal in year three		27,000,000
Repayments of principal in year four		$ 27,000,000
Senior Secured Credit Facility \| Senior Credit Facility Term Loan Due May 2025
Debt Instrument [Line Items]
Principal amount of debt							$ 2,700,000,000
Quarterly installment rate							1.00%
Debt issuance costs, gross							$ 38,000,000
Senior Secured Credit Facility \| Senior Credit Facility Term Loan Due May 2025 \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate		3.50%
Line of Credit \| Senior Secured Asset-Backed Credit Facility
Debt Instrument [Line Items]
Outstanding borrowings on credit facility		$ 0
Line of Credit \| Senior Secured Credit Facilities
Debt Instrument [Line Items]
Maximum borrowing capacity							$ 500,000,000
Remaining borrowing capacity		$ 495,000,000
Commitment fee, as a percent							0.25%
Outstanding borrowings on credit facility					$ 300,000,000
Commitment fee percentage on unused capacity		0.375%
Debt issuance costs, gross							$ 5,000,000
Line of Credit \| Senior Secured Credit Facilities \| Minimum
Debt Instrument [Line Items]
Commitment fee percentage on unused capacity		0.25%
Line of Credit \| Senior Secured Credit Facilities \| Maximum
Debt Instrument [Line Items]
Commitment fee percentage on unused capacity		0.375%
Line of Credit \| Senior Secured Credit Facilities \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate		1.25%
Line of Credit \| Senior Secured Credit Facilities \| Letter of Credit
Debt Instrument [Line Items]
Remaining borrowing capacity							$ 25,000,000
Rondo Term Loan
Debt Instrument [Line Items]
Repayments of principal in next twelve months		$ 9,000,000
Repayments of principal in year two		9,000,000
Repayments of principal in year three		9,000,000
Repayments of principal in year four		9,000,000
Long Term Promissory Notes \| AvKARE and R&S Acquisitions
Debt Instrument [Line Items]
Amortization of debt issuance costs		$ 1,000,000
Stated interest rate	5.00%
Liabilities incurred	$ 44,000,000
Liabilities incurred, fair value	35,033,000
Unamortized discount	$ 9,000,000
Short Term Promissory Notes \| AvKARE and R&S Acquisitions
Debt Instrument [Line Items]
Stated interest rate	1.60%
Liabilities incurred	$ 1,000,000
Liabilities incurred, fair value	$ 1,000,000

Other Long-Term Liabilities - Schedule of Other Long-Term Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Other Liabilities [Line Items]
Other long-term liabilities	$ 85,683	$ 39,583
Interest rate swap
Other Liabilities [Line Items]
Other long-term liabilities	53,903	0
Uncertain Tax Position Noncurrent [Member]
Other Liabilities [Line Items]
Other long-term liabilities	3,065	5,088
Long-term compensation
Other Liabilities [Line Items]
Other long-term liabilities	20,542	22,735
Deferred compensation plan liabilities	12,000
Long-term employee benefit	8,000
Financing Lease Liabilities Noncurrent [Member]
Other Liabilities [Line Items]
Other long-term liabilities	2,318	3,869
Other Noncurrent Liabilities [Member]
Other Liabilities [Line Items]
Other long-term liabilities	$ 5,855	$ 7,891

Fair Value Measurements - Assets and Liabilities Measured at Fair Value (Details) - Recurring - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Assets
Interest rate swap	$ 53,903
Deferred compensation plan asset		$ 16,373
Liabilities
Deferred compensation plan liabilities	14,007	18,396
Current Liabilities
Liabilities
Deferred compensation plan liabilities	2,000	4,000
Non-current Liabilities
Liabilities
Deferred compensation plan liabilities	12,000	14,000
Quoted Prices in Active Markets (Level 1)
Assets
Interest rate swap	0
Deferred compensation plan asset		0
Liabilities
Deferred compensation plan liabilities	0	0
Significant Other Observable Inputs (Level 2)
Assets
Interest rate swap	53,903
Deferred compensation plan asset		16,373
Liabilities
Deferred compensation plan liabilities	14,007	18,396
Significant Unobservable Inputs (Level 3)
Assets
Interest rate swap	0
Deferred compensation plan asset		0
Liabilities
Deferred compensation plan liabilities	$ 0	$ 0

Fair Value Measurements - Additional Information (Details) - USD ($)	Dec. 31, 2020	Jan. 31, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt	$ 2,779,492,000		$ 2,630,525,000
Significant Other Observable Inputs (Level 2) \| Short Term Promissory Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term debt	1,000,000
Term Loan \| Rondo Partners LLC
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt fair value	172,000,000
Term Loan \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Principal amount of debt	2,600,000,000
Long-term debt fair value	2,600,000,000		$ 2,400,000,000
Term Loan \| Significant Other Observable Inputs (Level 2) \| Rondo Partners LLC
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Principal amount of debt		$ 173,000,000
Promissory Notes \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt	$ 36,000,000

Financial Instruments - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Oct. 31, 2019
Derivative [Line Items]
Net of income taxes, recognized in accumulated other comprehensive loss	$ 54,000,000
Unrealized (loss) gain on cash flow hedge, net of tax	(70,276,000)	$ 16,373,000	$ 0
Net of income taxes, recognized in non-controlling interests	27,000,000
Accumulated Other Comprehensive Loss
Derivative [Line Items]
Net of income taxes, recognized in accumulated other comprehensive loss	27,000,000
Unrealized (loss) gain on cash flow hedge, net of tax	$ (34,560,000)	$ 7,764,000
Interest Rate Lock Agreement
Derivative [Line Items]
Notional amount				$ 1,300,000,000

Financial Instruments - Summary of Fair Values of Derivative Instruments in Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Variable to Fixed Interest Rate Swap \| Designated as Hedging Instrument \| Other Assets
Derivative [Line Items]
Fair Value	$ 53,903	$ 16,373

Commitments and Contingencies - Additional Information (Details) $ in Millions	1 Months Ended	12 Months Ended
	May 31, 2016 USD ($) settlement_demand	Dec. 31, 2020 USD ($) state complaint claim case	Dec. 31, 2019 USD ($)	Jun. 10, 2020 state	Nov. 01, 2019 state	May 10, 2019 state	Apr. 17, 2017 officer	Feb. 15, 2017 litigation
Loss Contingencies [Line Items]
Pending cases \| case		850
Number of state court cases \| case		120
Number of states with court cases \| state		11
Number of former officers alleging violations \| officer							4
Texas State Attorney General Civil Investigative Demand
Loss Contingencies [Line Items]
Number of settlement demands \| settlement_demand	2
Damages sought, initial demand aggregate total	$ 36
Alleged overpayments	$ 16
Generic Digoxin and Doxycycline Antitrust Litigation
Loss Contingencies [Line Items]
Number of states, filed civil lawsuit \| state				46		43
Number of additional states, filed civil lawsuit \| state					9
Teva VS Impax Laboratories, Inc.
Loss Contingencies [Line Items]
Number of litigations \| litigation								2
Ranitidine
Loss Contingencies [Line Items]
Number of claims dismissed \| claim		3
Number of personal injury short form complaints \| complaint		160
Commercial and Governmental Legal Proceedings and Claims
Loss Contingencies [Line Items]
Net charge for legal proceedings		$ 6	$ 12
Liability related to legal proceedings		$ 11	$ 17

Stockholders' Equity - Additional Information (Details)			1 Months Ended			3 Months Ended	12 Months Ended
Stockholders' Equity - Additional Information (Details)	Jan. 31, 2020 USD ($)	May 04, 2018 $ / shares shares	Sep. 30, 2020 USD ($) subsidiary	Dec. 31, 2018 USD ($) subsidiary	Jul. 31, 2018 shares	Jun. 30, 2018 USD ($) shares	Dec. 31, 2020 USD ($) vote $ / shares shares	Dec. 31, 2019 USD ($) $ / shares shares	Dec. 31, 2018 USD ($) shares
Class of Stock [Line Items]
Transaction-related bonus \| $							$ 0	$ 0	$ 27,742,000
Profit share and transaction related bonus expense \| $								187,000,000
Profit participation units \| $							0	0	158,757,000
Distributions to members \| $							$ 0	$ 0	182,998,000
Preferred stock, shares authorized (in shares) \| shares		2,000,000					2,000,000	2,000,000
Preferred stock, par value (in dollars per share) \| $ / shares		$ 0.01					$ 0.01	$ 0.01
Preferred stock, shares issued (in shares) \| shares							0	0
Tax distribution \| $							$ 3,000,000	$ 0
Included in related-party payables, tax distribution \| $							0	0
Acquired non-controlling interest, non-public subsidiary \| $			$ 3,000,000
Number of non-public subsidiaries, acquired non-controlling interest \| subsidiary			1	1
Payments to acquire additional interest in subsidiaris \| $			$ 1,000,000
Acquired non-controlling interest, non-public subsidiary \| $			$ 2,000,000	$ 3,000,000
Related party payables - short term \| $				$ 3,000,000			7,561,000	$ 5,969,000	$ 3,000,000
Redeemable non-controlling interest remained outstanding \| $							0
Tax distribution recorded as a reduction to redeemable non-controlling interest \| $							$ 500,000
AvKare and R&S
Class of Stock [Line Items]
Percentage of voting interests acquired	65.10%
Liabilities incurred, fair value \| $	$ 11,000,000
AvKare and R&S \| Rondo Partners LLC
Class of Stock [Line Items]
Ownership percentage by noncontrolling owners	34.90%
Class A Common Stock
Class of Stock [Line Items]
Conversion of Class B-1 Common Stock (in shares) \| shares								12,300,000
Common stock, shares authorized (in shares) \| shares		900,000,000					900,000,000	900,000,000
Common stock, par value (in dollars per share) \| $ / shares		$ 0.01					$ 0.01	$ 0.01
Number of votes per share \| vote							1
Class A Common Stock \| Common Stock
Class of Stock [Line Items]
Effect of the combination (in shares) \| shares		73,300,000
Class B Common Stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares) \| shares		300,000,000					300,000,000	300,000,000
Common stock, par value (in dollars per share) \| $ / shares		$ 0.01					$ 0.01	$ 0.01
Number of votes per share \| vote							1
Conversion ratio							1
Class B Common Stock \| Common Stock
Class of Stock [Line Items]
Effect of the combination (in shares) \| shares		225,000,000
Class B-1 Common Stock
Class of Stock [Line Items]
Conversion of Class B-1 Common Stock (in shares) \| shares								12,300,000
Common stock, shares authorized (in shares) \| shares		18,000,000
Common stock, par value (in dollars per share) \| $ / shares		$ 0.01
PPU Holders Distribution
Class of Stock [Line Items]
Shares issued for settlement in redemption \| shares					0
PPU Holders Distribution \| Class A Common Stock
Class of Stock [Line Items]
Sale of stock, number of shares issued in transaction (in shares) \| shares		6,900,000				6,886,140			6,900,000
Accelerated vesting of profit participation units, fair value \| $						$ 126,000,000			$ 126,000,000
Accelerated vesting cash payment \| $						$ 33,000,000			33,000,000
Profit participation units \| $									$ 159,000,000
PPU Holders Distribution \| Class A Common Stock \| Common Stock
Class of Stock [Line Items]
Sale of stock, number of shares issued in transaction (in shares) \| shares		6,900,000
PPU Holders Distribution \| Class B Common Stock \| Common Stock
Class of Stock [Line Items]
Number of shares repurchased (in shares) \| shares		6,900,000
Private Placement \| Class A Common Stock
Class of Stock [Line Items]
Sale of stock, number of shares issued in transaction (in shares) \| shares		34,500,000
Private Placement \| Class B Common Stock \| Common Stock
Class of Stock [Line Items]
Number of shares repurchased (in shares) \| shares		46,800,000
Private Placement \| Class B-1 Common Stock
Class of Stock [Line Items]
Sale of stock, number of shares issued in transaction (in shares) \| shares		12,300,000

Stockholders' Equity - Schedule of Changes in Accumulated Other Comprehensive Loss by Component (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Class of Stock [Line Items]
Stockholders' equity beginning balance	$ 346,788	$ 896,363
Other comprehensive income before reclassification	(41,203)	7,035
Reallocation of ownership interests	(47)	(809)
Stockholders' equity ending balance	344,932	346,788
Foreign currency translation adjustment
Class of Stock [Line Items]
Stockholders' equity beginning balance	(7,832)	(7,755)
Other comprehensive income before reclassification	(6,643)	(729)
Amounts reclassified from accumulated other comprehensive loss		1,461
Reallocation of ownership interests	(22)	(809)
Stockholders' equity ending balance	(14,497)	(7,832)
Unrealized gain (loss) on cash flow hedge, net of tax
Class of Stock [Line Items]
Stockholders' equity beginning balance	7,764	0
Other comprehensive income before reclassification	(34,560)	7,764
Amounts reclassified from accumulated other comprehensive loss		0
Reallocation of ownership interests	(25)	0
Stockholders' equity ending balance	(26,821)	7,764
Accumulated Other Comprehensive Loss
Class of Stock [Line Items]
Stockholders' equity beginning balance	(68)	(7,755)
Amounts reclassified from accumulated other comprehensive loss		1,461
Stockholders' equity ending balance	$ (41,318)	$ (68)

- Definition

Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 45
-Paragraph 24
-URI http://asc.fasb.org/extlink&oid=115929471&loc=d3e21930-107793

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 45
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=118261656&loc=d3e32136-110900

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 45
-Paragraph 23
-Subparagraph (b)
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22644-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 10
-Section 65
-Paragraph 4
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121646688&loc=SL121648383-210437

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 2
-Subparagraph (f)(2)
-URI http://asc.fasb.org/extlink&oid=121370832&loc=SL117420844-207641

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
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-URI http://asc.fasb.org/extlink&oid=108774443&loc=SL4568740-111683

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 65
-Paragraph 15
-Subparagraph (f)(2)
-URI http://asc.fasb.org/extlink&oid=121322162&loc=SL121327923-165333

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4I
-URI http://asc.fasb.org/extlink&oid=120409616&loc=SL4590271-111686

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (f)(1)
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Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14064-108612

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 45
-Paragraph 20
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=118261656&loc=d3e32211-110900

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
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-Subparagraph (b)
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Reference 15: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 17: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
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-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22499-107794

Reference 19: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 20: http://www.xbrl.org/2003/role/disclosureRef
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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
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Reference 22: http://www.xbrl.org/2003/role/disclosureRef
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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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+ Details

Stock-Based Compensation - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions					3 Months Ended	12 Months Ended
	May 05, 2020	Nov. 14, 2019	Mar. 01, 2019	May 04, 2018	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	May 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Conversion of Impax stock options outstanding on May 4, 2018 (in shares)				3,000,000.0				3,002,669
Options, exercises in period, intrinsic value						$ 0.2
Number of outstanding options repriced, shares		3,600,000				3,811,229	6,177,126	5,814,581		0
Outstanding options repriced, exercise price		$ 2.75				$ 2.75	$ 6.64	$ 10.80
Share based compensation incremental expense						$ 0.9
Compensation cost not yet recognized						$ 44.0
Compensation cost not yet recognized, period for recognition						1 year 8 months 12 days
Dividend yield						0.00%
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period						4 years
Expiration period						10 years
Dividend yield							0.00%	0.00%
MPRSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period						3 years
Awards granted to executives					2,977,711
Awards vesting, percentage						200.00%
Awards vesting, shares						5,955,422
Shares outstanding and unvested						2,813,530
MPRSUs, TSR levels
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period						3 years
Awards granted to executives			519,754
Awards vesting, percentage						150.00%
Awards vesting, shares						779,631
Estimated fair value per share						$ 14.67
Shares outstanding and unvested						159,260
Amneal Pharmaceuticals, Inc. 2018 Incentive Award Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of additional shares authorized (in shares)	14,000,000
Number of shares authorized (in shares)									37,000,000
Number of shares available for grant (in shares)						22,864,218
Minimum \| MPRSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimated fair value per share						$ 2.13
Maximum \| MPRSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimated fair value per share						$ 3.63

Stock-Based Compensation - Stock Options (Details) - USD ($) $ / shares in Units, $ in Millions			12 Months Ended
	Nov. 14, 2019	May 04, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Number of Shares Under Option
Beginning balance (in shares)			6,177,126	5,814,581	0
Conversion of Impax stock options outstanding on May 4, 2018 (in shares)		3,000,000.0			3,002,669
Options granted (in shares)			0	4,559,820	3,555,808
Options exercised (in shares)			(116,681)	(210,806)	(351,668)
Options forfeited (in shares)			(2,249,216)	(3,986,469)	(392,228)
Ending balance (in shares)	3,600,000		3,811,229	6,177,126	5,814,581
Options exercisable ending balance (in shares)			1,806,223
Weighted- Average Exercise Price per Share
Beginning balance (in dollars per share)			$ 8.87	$ 17.73	$ 0
Conversion of Impax stock options outstanding on May 4,2018 (in dollars per share)					18.90
Options granted (in dollars per share)			0	11.29	16.64
Options exercised (in dollars per share)	$ 2.75		2.75	6.64	10.80
Options forfeited (in dollars per share)			16.09	15.07	23.02
Ending balance (in dollars per share)			4.80	$ 8.87	$ 17.73
Options exercisable ending balance (in dollars per share)			$ 7.07
Weighted- Average Remaining Contractual Life, Outstanding			7 years 10 months 24 days	8 years 2 months 12 days	8 years
Weighted- Average Remaining Contractual Life, Exercisable			7 years 8 months 12 days
Aggregate Intrinsic Value, Outstanding			$ 5.6	$ 8.0	$ 2.6
Aggregate Intrinsic Value, Exercisable			$ 2.0

Stock-Based Compensation - Restricted Stock Units (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Weighted- Average Grant Date Fair Value
Weighted- Average Remaining Years	1 year 8 months 12 days	1 year 8 months 12 days	3 years 3 months 18 days
Restricted Stock Units
Number of Restricted Stock Units
Non-vested beginning balance (in shares)	2,637,358	1,330,624	0
Granted (in shares)	8,414,762	3,327,308	1,421,814
Vested (in shares)	(692,868)	(479,299)	0
Forfeited (in shares)	(1,226,700)	(1,541,275)	(91,190)
Non-vested ending balance (in shares)	9,132,552	2,637,358	1,330,624
Weighted- Average Grant Date Fair Value
Non-vested beginning balance (in dollars per share)	$ 12.16	$ 17.15	$ 0
Granted (in dollars per share)	3.67	11.81	17.28
Vested (in dollars per share)	12.33	16.10	0
Forfeited (in dollars per share)	6.48	14.46	19.19
Non-vested ending balance (in dollars per share)	$ 5.09	$ 12.16	$ 17.15
Aggregate Intrinsic Value (in millions)	$ 41.7	$ 12.7	$ 18.0

Stock-Based Compensation - Valuation Assumptions (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	0.00%
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility		48.60%	46.50%
Risk-free interest rate		2.40%	2.90%
Dividend yield		0.00%	0.00%
Weighted-average expected life (years)		6 years 2 months 1 day	6 years 3 months
Weighted average grant date fair value (in dollars per share)		$ 5.54	$ 8.14

Stock-Based Compensation - Share-based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total	$ 20,750	$ 21,679	$ 8,840
Cost of goods sold
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total	4,166	3,166	921
Selling, general and administrative
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total	13,343	15,729	6,923
Research and development
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total	$ 3,241	$ 2,784	$ 996

Related Party Transactions - Additional Information (Details)					1 Months Ended								5 Months Ended	12 Months Ended			25 Months Ended
	Jun. 01, 2020 USD ($)	Nov. 07, 2018 USD ($)	May 07, 2018 USD ($)	Oct. 01, 2017 product	Aug. 31, 2020 USD ($) product	May 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Jul. 31, 2019 USD ($)	Jun. 30, 2018 USD ($)	Dec. 31, 2017 USD ($)	Oct. 31, 2017 USD ($)	Jun. 30, 2017 USD ($) payment	May 31, 2018 USD ($)	Dec. 31, 2020 USD ($) lease_agreement building	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Mar. 31, 2018 USD ($)	Jun. 30, 2021	Jun. 06, 2019 USD ($) product
Related Party Transaction [Line Items]
Related party receivables							$ 1,767,000							$ 1,407,000	$ 1,767,000
Related party payables - short term							5,969,000							7,561,000	5,969,000	$ 3,000,000
Gemini Laboratories, LLC Acquisition
Related Party Transaction [Line Items]
Percentage of voting interests acquired			98.00%
Gemini Laboratories, LLC Acquisition \| Notes Payable
Related Party Transaction [Line Items]
Liabilities incurred			$ 77,000,000
Repayments of related party interest		$ 1,000,000
Kashiv Specialty Pharmaceuticals, LLC \| Subsequent Event \| Forecast
Related Party Transaction [Line Items]
Percentage of voting interests acquired																		98.00%
Kashiv Bio Sciences License And Commercialization Agreement
Related Party Transaction [Line Items]
Number of products in agreement \| product				2
Collaborative arrangement term				10 years
Collaborative arrangement maximum contingent payments amount											$ 2,000,000
Profit share (percent)											50.00%
Kashiv Bio Sciences License And Commercialization Agreement \| Regulatory Approval
Related Party Transaction [Line Items]
Collaborative arrangement maximum contingent payments amount											$ 21,000,000
Kashiv Bio Sciences License And Commercialization Agreement \| Successful Delivery Of Commercial Launch Inventory
Related Party Transaction [Line Items]
Collaborative arrangement maximum contingent payments amount											43,000,000
Kashiv Bio Sciences License And Commercialization Agreement \| Minimum \| Number Of Competitors For Launch Of One Product
Related Party Transaction [Line Items]
Collaborative arrangement maximum contingent payments amount											20,000,000
Kashiv Bio Sciences License And Commercialization Agreement \| Minimum \| Achievement Of Cumulative Net Sales
Related Party Transaction [Line Items]
Collaborative arrangement maximum contingent payments amount											15,000,000
Kashiv Bio Sciences License And Commercialization Agreement \| Maximum \| Number Of Competitors For Launch Of One Product
Related Party Transaction [Line Items]
Collaborative arrangement maximum contingent payments amount											50,000,000
Kashiv Bio Sciences License And Commercialization Agreement \| Maximum \| Achievement Of Cumulative Net Sales
Related Party Transaction [Line Items]
Collaborative arrangement maximum contingent payments amount											$ 68,000,000
Kashiv Bio Sciences Licensing Agreement One
Related Party Transaction [Line Items]
Collaborative arrangement maximum contingent payments amount						$ 300,000
Kashiv Bio Sciences Licensing Agreement One \| Regulatory Approval
Related Party Transaction [Line Items]
Collaborative arrangement maximum contingent payments amount						300,000
Kashiv Bio Sciences Licensing Agreement One \| Achievement Of Cumulative Net Sales
Related Party Transaction [Line Items]
Collaborative arrangement maximum contingent payments amount						1,000,000
Kashiv Bio Sciences Licensing Agreement One \| Development Milestones
Related Party Transaction [Line Items]
Collaborative arrangement maximum contingent payments amount						$ 800,000
Kashiv Bio Sciences Licensing Agreement Two
Related Party Transaction [Line Items]
Number of products in agreement \| product					2
Collaborative arrangement maximum contingent payments amount					$ 1,000,000
Kashiv Bio Sciences Licensing Agreement Two \| Regulatory Approval
Related Party Transaction [Line Items]
Collaborative arrangement maximum contingent payments amount					300,000
Kashiv Bio Sciences Licensing Agreement Two \| Development Milestones
Related Party Transaction [Line Items]
Collaborative arrangement maximum contingent payments amount					2,000,000
Kashiv Bio Sciences Licensing Agreement Two \| Development Fees
Related Party Transaction [Line Items]
Collaborative arrangement maximum contingent payments amount					$ 3,000,000
R&D Reimbursement \| Kashiv Bio Sciences Licensing Agreement One
Related Party Transaction [Line Items]
Expenses from transactions with related party (less than)														2,000,000	2,000,000	0
Related Party \| Kashiv Bio Sciences Licensing Agreement One
Related Party Transaction [Line Items]
Upfront payment							2,000,000
Development and regulatory milestones amount														$ 17,000,000
AvKare and R&S \| Rondo Partners LLC
Related Party Transaction [Line Items]
Ownership interest (percent)														34.90%
561990 All Other Support Services [Member] \| Kashiv Bio Sciences Licensing Agreement One
Related Party Transaction [Line Items]
Expenses from transactions with related party (less than)														$ 6,000,000	0	0
Industrial Real Estate Holdings NY, LLC
Related Party Transaction [Line Items]
Lease renewal term	5 years
Industrial Real Estate Holdings NY, LLC \| Rent Expense
Related Party Transaction [Line Items]
Expenses from transactions with related party (less than)	$ 100,000
Annual rent increase (percent)	3.00%
Industrial Real Estate Holdings NY, LLC \| Rent Renewal Fee
Related Party Transaction [Line Items]
Expenses from transactions with related party (less than)	$ 100,000
Kashiv BioSciences LLC \| Legal Cost Reimbursement
Related Party Transaction [Line Items]
Additional amount due to related party, if circumstances met (up to)								$ 18,000,000
Kashiv BioSciences LLC \| Related Party
Related Party Transaction [Line Items]
Expenses from transactions with related party (less than)														100,000	100,000	0
Related party receivables							100,000							$ 100,000	100,000
Related Party
Related Party Transaction [Line Items]
Number of buildings, financing lease \| building														2
Related Party \| Kanan, LLC
Related Party Transaction [Line Items]
Number of lease agreements \| lease_agreement														2
Related Party \| Kanan, LLC \| Annual Rental Cost
Related Party Transaction [Line Items]
Amounts of transaction with related party														$ 2,000,000
Related Party \| Kanan, LLC \| Rent Expense
Related Party Transaction [Line Items]
Expenses from transactions with related party (less than)														2,000,000	2,000,000	2,000,000
Related Party \| Asana Biosciences L L C
Related Party Transaction [Line Items]
Income from related parties														0	1,000,000	200,000
Related party receivables							1,000,000							0	1,000,000
Related Party \| Kashiv Pharmaceuticals LLC \| Annual Base Rent
Related Party Transaction [Line Items]
Amounts of transaction with related party														2,000,000
Related Party \| Kashiv Pharmaceuticals LLC \| Rent Income
Related Party Transaction [Line Items]
Expenses from transactions with related party (less than)														0	0	400,000
Related Party \| Kashiv Pharmaceuticals LLC \| Profit Share On Various Arrangements
Related Party Transaction [Line Items]
Expenses from transactions with related party (less than)														11,000,000	4,000,000	4,000,000
Related Party \| Kashiv Pharmaceuticals LLC \| Product Acquisition And Royalty Stream Purchase Agreement
Related Party Transaction [Line Items]
Amounts of transaction with related party												$ 25,000,000
Number of earn out payments \| payment												2
Related Party \| Kashiv Pharmaceuticals LLC \| Product Acquisition And Royalty Stream Purchase Agreement, Earn-out Payment
Related Party Transaction [Line Items]
Amounts of transaction with related party												$ 5,000,000
Related Party \| Kashiv Pharmaceuticals LLC \| Product Acquisition And Royalty Stream Purchase Agreement, Earn-out Payment One
Related Party Transaction [Line Items]
Amounts of transaction with related party									$ 5,000,000								$ 5,000,000
Related Party \| Kashiv Pharmaceuticals LLC \| Legal Cost Reimbursement
Related Party Transaction [Line Items]
Amounts of transaction with related party								2,000,000		$ 8,000,000
Related Party \| Kashiv Pharmaceuticals LLC \| R&D Reimbursement
Related Party Transaction [Line Items]
Related parties payable							2,000,000							2,000,000	2,000,000	0
Related Party \| Kashiv Pharmaceuticals LLC \| R&D Reimbursement \| Kashiv Bio Sciences License And Commercialization Agreement
Related Party Transaction [Line Items]
Amounts of transaction with related party														1,000,000	0	0
Related Party \| Kashiv Pharmaceuticals LLC \| R&D Reimbursement \| Kashiv Bio Sciences Licensing Agreement One
Related Party Transaction [Line Items]
Amounts of transaction with related party														700,000	0	0
Related Party \| Kashiv Pharmaceuticals LLC \| R&D Reimbursement \| Kashiv Bio Sciences Licensing Agreement Two
Related Party Transaction [Line Items]
Amounts of transaction with related party														2,000,000	0	0
Related Party \| Industrial Real Estate Holdings NY, LLC \| Rent Expense
Related Party Transaction [Line Items]
Expenses from transactions with related party (less than)														1,000,000	1,000,000	1,000,000
Related Party \| Kashiv BioSciences LLC
Related Party Transaction [Line Items]
Related parties payable							6,000,000							5,000,000	6,000,000
Related Party \| Kashiv BioSciences LLC \| Development And Commercialization Reimbursable Expense
Related Party Transaction [Line Items]
Amounts of transaction with related party														400,000	5,000,000	0
Related Party \| PharmaSophia, LLC
Related Party Transaction [Line Items]
Income from related parties														500,000	1,000,000	700,000
Related party receivables							700,000							$ 800,000	700,000
Ownership interest (percent)														50.00%
Related Party \| PharmaSophia, LLC \| Maximum
Related Party Transaction [Line Items]
Related parties payable							$ 100,000								100,000
Related Party \| Gemini Laboratories, LLC \| Gross Profit From Sale Of Inventory
Related Party Transaction [Line Items]
Income from related parties													$ 100,000
Related Party \| Fosun International Limited \| Non-Refundable Fee, Net of Tax
Related Party Transaction [Line Items]
Payment received, non-refundable fee								$ 1,000,000
Related Party \| Fosun International Limited \| Fee Due Upon First Commercial Sale Of Products
Related Party Transaction [Line Items]
Additional amount due from related parties upon sale of each product																			$ 300,000
Additional amount due from related parties upon sale of each product, number of products \| product																			8
Related Party \| Avtar Investments LLC
Related Party Transaction [Line Items]
Expenses from transactions with related party (less than)														$ 1,000,000	0	0
Related parties payable														100,000
Related Party \| Zep Inc
Related Party Transaction [Line Items]
Income from related parties														600,000	0	0
Due from related parties														100,000
Apace KY LLC
Related Party Transaction [Line Items]
Expenses from transactions with related party (less than)														12,000,000	0	0
Apace KY LLC \| Packaging Services
Related Party Transaction [Line Items]
Related party payables - short term														1,000,000
Apace KY LLC \| Product Recall
Related Party Transaction [Line Items]
Due from related parties														500,000
Tracy Properties LLC
Related Party Transaction [Line Items]
Expenses from transactions with related party (less than)														500,000	0	0
Av Prop LLC
Related Party Transaction [Line Items]
Expenses from transactions with related party (less than)														100,000	0	0
Aza Tech Pharma LLC
Related Party Transaction [Line Items]
Expenses from transactions with related party (less than)														5,000,000	$ 0	$ 0
Aza Tech Pharma LLC \| Inventory Purchases
Related Party Transaction [Line Items]
Related party payables - short term														$ 1,000,000

Employee Benefit Plans - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Retirement Benefits [Abstract]
Contributions to defined contribution plan	$ 8,000,000	$ 7,000,000	$ 7,000,000
Deferred compensation plan, employer contributions	$ 0

Segment Information - Additional Information (Details)	12 Months Ended
Segment Information - Additional Information (Details)	Dec. 31, 2020 product
Segment Reporting [Abstract]
Number of product families	250

Segment Information - Schedules of Segment Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Net revenue	$ 1,992,523	$ 1,626,373	$ 1,662,991
Cost of goods sold	1,329,551	1,147,214	938,773
Cost of goods sold impairment charges	34,579	126,162	7,815
Gross profit	628,393	352,997	716,403
Selling, general and administrative	326,727	289,598	227,846
Research and development	179,930	188,049	194,190
In-process research and development impairment charges	2,680	46,619	39,259
Acquisition, transaction-related and integration expenses	8,988	16,388	221,818
Restructuring and other charges	2,398	34,345	56,413
Charges (gains) related to legal matters, net	5,860	12,442	(19,711)
Intellectual property legal development expenses	10,655	14,238	16,261
Operating income (loss)	91,155	(248,682)	(19,673)
Generics
Segment Reporting Information [Line Items]
Net revenue	1,343,210	1,308,843	1,439,031
Cost of goods sold		5,000
AvKARE
Segment Reporting Information [Line Items]
Net revenue	293,746	0	0
Operating Segments
Segment Reporting Information [Line Items]
Acquisition, transaction-related and integration expenses		8,346
Intellectual property legal development expenses	8	1,045
Operating Segments \| Generics
Segment Reporting Information [Line Items]
Net revenue	1,343,210	1,308,843	1,439,031
Cost of goods sold	894,422	984,782	835,181
Cost of goods sold impairment charges	34,579	119,145	7,815
Gross profit	414,209	204,916	596,035
Selling, general and administrative	56,134	68,883	68,426
Research and development	150,068	172,196	183,412
In-process research and development impairment charges	2,680	46,619	39,259
Acquisition, transaction-related and integration expenses	328	4,633	114,622
Restructuring and other charges	(614)	20,101	33,943
Charges (gains) related to legal matters, net	5,610	12,442	(22,300)
Intellectual property legal development expenses	10,647	13,193	15,772
Operating income (loss)	189,356	(133,151)	162,901
Operating Segments \| Specialty
Segment Reporting Information [Line Items]
Net revenue	355,567	317,530	223,960
Cost of goods sold	192,910	162,432	103,592
Cost of goods sold impairment charges	0	7,017	0
Gross profit	162,657	148,081	120,368
Selling, general and administrative	75,917	79,665	49,465
Research and development	29,862	15,853	10,778
In-process research and development impairment charges	0	0	0
Acquisition, transaction-related and integration expenses	85		0
Restructuring and other charges	0	391	4,076
Charges (gains) related to legal matters, net	250	0	0
Intellectual property legal development expenses			489
Operating income (loss)	56,535	42,781	55,560
Operating Segments \| AvKARE
Segment Reporting Information [Line Items]
Net revenue	293,746
Cost of goods sold	242,219
Cost of goods sold impairment charges	0
Gross profit	51,527
Selling, general and administrative	58,544
Research and development	0
In-process research and development impairment charges	0
Acquisition, transaction-related and integration expenses	641
Restructuring and other charges	0
Charges (gains) related to legal matters, net	0
Intellectual property legal development expenses	0
Operating income (loss)	(7,658)
Corporate and Other
Segment Reporting Information [Line Items]
Net revenue	0	0	0
Cost of goods sold	0	0	0
Cost of goods sold impairment charges	0	0	0
Gross profit	0	0	0
Selling, general and administrative	136,132	141,050	109,955
Research and development	0	0	0
In-process research and development impairment charges	0	0	0
Acquisition, transaction-related and integration expenses	7,934	3,409	107,196
Restructuring and other charges	3,012	13,853	18,394
Charges (gains) related to legal matters, net	0	0	2,589
Intellectual property legal development expenses	0	0	0
Operating income (loss)	$ (147,078)	$ (158,312)	$ (238,134)

Other Assets - Schedule of Other Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Other Assets [Line Items]
Other assets	$ 31,885	$ 44,270
Deferred Revolving Credit Facility costs
Other Assets [Line Items]
Other assets	2,648	3,099
Security deposits
Other Assets [Line Items]
Other assets	2,240	1,938
Long-term prepaid expenses
Other Assets [Line Items]
Other assets	10,598	6,438
Interest rate swap
Other Assets [Line Items]
Other assets	0	16,373
ROU assets - financing leases
Other Assets [Line Items]
Other assets	9,541	11,442
Other long-term assets
Other Assets [Line Items]
Other assets	$ 6,858	$ 4,980

Subsequent Events - Additional Information (Details) - Kashiv Specialty Pharmaceuticals, LLC - Forecast - Subsequent Event $ in Millions	6 Months Ended
	Jun. 30, 2021 USD ($)
Subsequent Event [Line Items]
Percentage of voting interests acquired	98.00%
Cash payment	$ 70
Additional cash payment	$ 30
Additional cash payment term	1 year
Contingent consideration	$ 8

Label	Element	Value
Accounting Standards Update [Extensible List]	us-gaap_AccountingStandardsUpdateExtensibleList	us-gaap:AccountingStandardsUpdate201409Member

- Definition

Indicates amendment to accounting standards.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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+ Details