The 48-year-old British actress said in the June issue of Vogue Australia that she's had "good days and bad days" since calling it quits with the 49-year-old American actor.
"I mean, I'm single. I'm co-parenting. I'm doing okay," Watts said before sharing she's been leaning on family and friends, including fellow actress Nicole Kidman.
"There are good days and bad days and Liev and I are on great terms and we're trying to do our absolute best for the sake of the children and we hope to keep moving forward in that way," she added.
Watts and Schreiber, who most recently co-starred in The Bleeder, separated in September after 11 years together. The former couple share two sons: 9-year-old Alexander, aka Sasha, and 8-year-old Samuel.
"I feel I'm in a good place in my life and I want to make sure my kids are healthy, my kids are happy and things are going to go well," Watts previously told The Daily Telegraph Australia.
"I feel, whether you're famous or not, transitions are scary for anybody," she added. "I feel like change is always scary, but that's only because transition for anyone is new and you wonder how things are going to go."