Company: ICUI
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000883984-25-000030
Chunk: 69

Company: ICU MEDICAL INC/DE
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 1
Chunk 69
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 assets are amortized over their estimated useful lives. (2)    Internally developed software will be reclassified to developed technology and amortized when the projects are complete and the assets are ready for their intended use. During 2024, we reclassified $33.2 million to developed technology.Intangible assets with definite lives are amortized on a straight-line basis over their estimated useful lives. Intangible asset amortization expense was $32.7 million and $65.3 million for the three and six months ended June 30, 2025, respectively, as compared to $33.1 million and $66.2 million during the three and six months ended June 30, 2024, respectively. Intangible asset amortization expense included in cost of goods sold was $1.0 million and $2.1 million, for the three and six months ended June 30, 2025, respectively. There were no such balances for the three and six months ended June 30, 2024.As of June 30, 2025 estimated annual amortization for our intangible assets for each of the next five years and thereafter is approximately (in thousands):

27

ICU MEDICAL, INC. AND SUBSIDIARIESNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)

Remainder of 2025$65,763 2026132,233 2027121,100 2028120,502 2029117,406 203053,264 Thereafter72,730 Total$682,998 

Note 16:      Accrued Liabilities 

    Accrued liabilities consist of the following (in thousands): As of June 30, 2025December 31, 2024Salaries and benefits$83,464 $60,815 Incentive compensation42,796 59,445 Deferred revenue21,919 30,358 Italy medical device payback provision(1)29,287 23,937 Field service corrective action(2)25,488 32,844 Other110,844 99,524  $313,798 $306,923 ___________________________(1)     Related to potential payments associated with the IMDP (as defined below) as a result of 2015 legislation enacted requiring medical device companies to make payments to the Italian government based on regional expenditure ceilings (