Company: ICUI
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000883984-25-000007
Chunk: 252

Company: ICU MEDICAL INC/DE
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1
Chunk 252
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$125,012 $125,550 $66,770 Amortization of debt issuance costs6,807 6,814 6,972 Commitment fee — Revolving Credit Facility1,524 1,518 1,290 Total long-term debt-related  interest expense$133,343 $133,882 $75,032 

NOTE 14. INCOME TAXES

 Income from continuing operations before taxes consisted of the following (in thousands): Year Ended December 31, 202420232022United States$(116,024)$(136,980)$(135,646)Foreign50,012 58,681 21,237  $(66,012)$(78,299)$(114,409)The provision (benefit) for income taxes consisted of the following (in thousands):Year Ended December 31, 202420232022Current:   Federal$16,589 $(8,235)$4,128 State4,256 5,035 3,799 Foreign25,164 24,500 12,924  $46,009 $21,300 $20,851 Deferred:   Federal$1,294 $(43,042)$(42,012)State14,850 (14,657)(11,239)Foreign(10,477)(12,245)(7,723) 5,667 (69,944)(60,974) $51,676 $(48,644)$(40,123) We have accrued for tax contingencies for potential tax assessments, and in 2024 we recognized a $5.7 million net decrease, most of which related to federal, state, and foreign tax reserves net of the release of various federal and foreign tax reserves.    

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

A reconciliation of the provision for income taxes at the statutory rate to our effective tax rate is as follows (dollars in thousands):Year Ended December 31, 202420232022 AmountPercentAmountPercentAmountPercentFederal tax at the expected statutory rate$(13,862)21.0 %$(16,443)21.0 %$(24,026)21.0 %State income tax, net of federal effect701 (1.1)%(6,