Company: ICUI
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000883984-25-000030
Chunk: 45

Company: ICU MEDICAL INC/DE
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 1
Chunk 45
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 June 30, 2025 (in thousands), which is included in accrued liabilities and other long-term liabilities on the condensed consolidated balance sheets:Severance Pay and BenefitsRetention and Facility Closure CostsTotalAccrued balance, January 1, 2025$9,538 $407 $9,945 Charges incurred2,401 4,397 6,798 Payments(3,482)(2,905)(6,387)Other(1)(900)— (900)Currency translation155 14 169 Accrued balance, March 31, 2025$7,712 $1,913 $9,625 Charges incurred4,289 3,934 8,223 Payments(3,930)(2,538)(6,468)Currency translation287 95 382 Accrued balance, June 30, 2025$8,358 $3,404 $11,762 __________________________(1)  Relates to prior year accrued restructuring charges for estimated severances costs that were reclassed to other accounts during the three months ended March 31, 2025.Strategic Transaction and Integration Expenses    We incurred and expensed $8.0 million and $17.9 million in strategic transaction and integration expenses during the three and six months ended June 30, 2025, respectively, as compared to $9.4 million and $20.2 million in strategic transaction and integration expenses during the three and six months ended June 30, 2024, respectively, which are included in restructuring, strategic transaction and integration expenses in our condensed consolidated statements of operations. The strategic transaction and integration expenses during the three and six months ended June 30, 2025 and 2024 were primarily related to ongoing consulting expenses and employee costs incurred to integrate our Smiths Medical business acquired in 2022. The three and six months ended June 30, 2025 also included transaction costs related to the sale of a 60% ownership in our IV Solutions business in the second quarter of 2025.

Note 4:  Assets Held For Sale and Disposal of Business

Assets Held For SaleOn November 12, 2024, we entered into a purchase agreement (the "Agreement") with Otsuka Pharmaceutical Factory America, Inc., a Delaware corporation ("OPF") to divest a controlling interest in our IV Solutions business. As of December 31, 2024