The couple, who ended their 11-year-long relationship in September 2016, are the parents to sons - Alexander (10) and Samuel (nine).
"It's always hard, you know? You build a life with someone and things change. And I think the way that we've looked at it is that we'll always be partners with these kids," Schreiber said on the show "Sunday Today".
The 50-year-old actor said it is important that their children know that he and Watts still care about each other.
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