Company: ICUI
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000883984-25-000007
Chunk: 321

Company: ICU MEDICAL INC/DE
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 321
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 the presentation used in the current year. In the consolidated statements of cash flows, we reclassified bond premium amortization to other. The reclassification had no impact on cash flows from operating activities as previously reported. In Note 14: Income Taxes, we reclassified certain provision (benefit) for income taxes and tax asset categories. These reclassifications had no impact on the consolidated statement of operations and consolidated balance sheets.Segment ReportingWe operate as a single operating and reportable segment. Our Chief Operating Decision Maker ("CODM"), the Chief Executive Officer, reviews financial information presented on a consolidated basis for purposes of allocating resources and assessing performance. See Note 6: Segment Data. Use of EstimatesPreparing financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Cash and Cash Equivalents Cash equivalents are short-term, highly liquid investments that are readily convertible to known amounts of cash and have original maturities of three months or less from the date of purchase.  Accounts Receivable Accounts receivable are stated at net realizable value. An allowance is provided for estimated collection losses based on an assessment of various factors.  We consider prior payment trends, the age of the accounts receivable balances, the financial status of our customers and other factors to estimate the cash which ultimately will be received.  Such amounts cannot be known with certainty at the financial statement date.  We regularly review individual past due balances for collectability.

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

 Inventories Inventories are stated at the lower of cost or net realizable value with cost determined using the first-in, first-out method.  Inventory costs include material, labor and overhead related to the manufacturing of our products. Inventories consist of the following (in thousands):As of December 31, 20242023Raw materials$265,275 $296,037 Work in process37,528 58,906 Finished goods281,873 354,417 Total$584,676 $709,360 _____________________________As of December 31, 2024, inventory account balances that are part of a disposal group that met the criteria for assets held