Company: ICUI
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000883984-25-000030
Chunk: 164

Company: ICU MEDICAL INC/DE
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 8
Chunk 164
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 earn the contingent earn-out. Accordingly, the Smiths Medical contingent earn-out was adjusted to zero during 2024. 

Interest Expense, net

The following table presents interest expense, net (in thousands): 

Three months ended June 30,Six months ended June 30,2025202420252024Interest expense$(23,065)$(26,648)$(48,328)$(53,066)Interest income2,516 2,807 5,748 5,453 Interest expense, net$(20,549)$(23,841)$(42,580)$(47,613)

    Interest expense, net for the three and six months ended June 30, 2025 and 2024 primarily included the contractual interest incurred on borrowings under the Credit Agreement, the per annum commitment fee charged on the available amount of the revolving credit facility contained in the Credit Agreement, the amortization of debt issuance costs incurred in connection with entering into the Credit Agreement (see Note 18: Long-Term Debt in our accompanying condensed consolidated financial statements), the impact of the interest rate swaps, and interest income. Additionally, interest expense for the three and six months ended June 30, 2025, includes the interest accretion on an unfavorable contract loss provision (see Note 4: Assets Held For Sale and Disposal of Business to our accompanying condensed consolidated financial statements). The interest expense component decreased for the three and six months ended June 30, 2025, as compared to the respective prior year periods, 

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primarily due to decreases in the applicable SOFR reference rate and due to lower long-term obligation principal balances after the prepayment of $35 million on our Term Loan B in March 2025 and the prepayment of $200 million on our Term loan A in May 2025 using the proceeds from the sale of a 60% interest of our IV Solutions business.

Other Income (Expense), net

The following table presents other income (expense), net (in thousands): 

Three months ended June 30,Six months ended June 30,2025202420252024Foreign exchange gain (loss), net$1,943 $(2,419)141 (4,143)(Loss) Gain on disposition of assets(57)$12 (227)77 Other miscellaneous (expense) income, net(68)(977)141 (1,659)Other income (expense), net$1,818 $(3,