Company: ICUI
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000883984-25-000030
Chunk: 83

Company: ICU MEDICAL INC/DE
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 1
Chunk 83
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 services are undertaken by our accounts receivable personnel in their normal course of business and collected funds are remitted to BMO. We do not have any continuing involvement with the sold receivables other than the collection services which does not provide us with more than a trivial benefit. The discount rate has been negotiated net of consideration for the collection services, the cost of collection is immaterial to the Company; therefore, we did not separately record any related servicing assets or liabilities related to the sold receivables.

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

The following table presents information in connection with the purchase program (in thousands):Three months ended June 30,Six months ended June 30,2025202420252024Trade receivables sold(1)$10,009 $172,755 $10,009 $348,447 Cash received in exchange for trade receivables sold(2)9,978 171,682 9,978 346,282 Loss on sale of receivables(3)32 1,073 32 2,165 _______________________________(1)    Represents carrying value of trade receivables sold to BMO.(2)    Cash proceeds received from BMO.(3)      Reflected in other expense, net in our condensed consolidated statement of operations.As of June 30, 2025, cash remaining to be collected on behalf of BMO was $10.0 million which has been removed from our condensed consolidated balance sheets as of June 30, 2025 and is reflected as cash provided by operating activities in the condensed consolidated statement of cash flows in each respective period. As of December 31, 2024, we were not actively utilizing the program and there were no outstanding balances to be collected on behalf of BMO.

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Item 2.  Management’s Discussion and Analysis of Financial Condition and Results of Operations

    You should read the following discussion and analysis of our financial condition and results of operations together with the condensed consolidated financial statements and accompanying notes in this Quarterly Report on Form 10-Q, as well as the audited consolidated financial statements and related notes thereto included in our 2024 Annual Report on Form 10-K. This discussion contains forward-looking statements based upon current plans, expectations and beliefs involving risks and uncertainties. Our actual results may differ materially from those anticipated