Company: ICUI
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0000883984-25-000035
Chunk: 68

Company: ICU MEDICAL INC/DE
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 1
Chunk 68
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 B swap, as amended, has an initial notional amount of $750.0 million, reducing to $46.9 million evenly on a quarterly basis through its final maturity on March 30, 2026. We pay a fixed rate of 1.17% and will receive the greater of 3-months USD SOFR or 0.35%. The total notional amount of this outstanding derivative as of September 30, 2025 was approximately $93.8 million.In June 2023, we entered into an additional interest rate swap that hedges both term loan A and term loan B interest payments. The total notional amount of the swap is $300.0 million. The hedge matures on June 30, 2028. We pay a fixed rate of 3.88% and will receive 3-months USD SOFR.These swaps effectively convert the relevant portion of the floating-rate term loans to fixed rates.    The following table presents the fair values of our derivative instruments included within the Condensed Consolidated Balance Sheets (in thousands):Derivatives Designated as Cash Flow Hedging InstrumentsCondensed Consolidated Balance Sheet LocationForeign Exchange ContractsInterest Rate SwapsGross DerivativesAs of September 30, 2025Prepaid expenses and other current assets$3,400 $3,977 $7,377 Other assets28 — 28 Total assets$3,428 $3,977 $7,405 Accrued liabilities$1,265 $— $1,265 Other long-term liabilities23 2,384 2,407 Total liabilities$1,288 $2,384 $3,672 As of December 31, 2024Prepaid expenses and other current assets$6,716 $11,038 $17,754 Other assets— 5,724 5,724 Total assets$6,716 $16,762 $23,478 Accrued liabilities$7,391 $— $7,391 Total liabilities$7,391 $— $7,391 We recognized the following (losses) gains on our derivative instruments designated as cash flow hedges in other comprehensive income before reclassifications to net loss (in thousands):

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ICU MEDICAL, INC. AND SUBSIDIARIESNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATE