Company: ICUI
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000883984-25-000030
Chunk: 60

Company: ICU MEDICAL INC/DE
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 1
Chunk 60
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.17% and will receive the greater of 3-months USD SOFR or 0.35%. The total notional amount of this outstanding derivative as of June 30, 2025 was approximately $140.6 million.In June 2023, we entered into an additional interest rate swap that hedges both term loan A and term loan B interest payments. The total notional amount of the swap is $300.0 million. The hedge matures on June 30, 2028. We pay a fixed rate of 3.88% and will receive 3-months USD SOFR.These swaps effectively convert the relevant portion of the floating-rate term loans to fixed rates.    The following table presents the fair values of our derivative instruments included within the Condensed Consolidated Balance Sheets (in thousands):Derivatives Designated as Cash Flow Hedging InstrumentsCondensed Consolidated Balance Sheet LocationForeign Exchange ContractsInterest Rate SwapsGross DerivativesAs of June 30, 2025Prepaid expenses and other current assets$3,434 $— $3,434 Total assets$3,434 $— $3,434 Accrued liabilities$2,971 $— $2,971 Other long-term liabilities— 2,084 2,084 Total liabilities$2,971 $2,084 $5,055 As of December 31, 2024Prepaid expenses and other current assets$6,716 $11,038 $17,754 Other assets— 5,724 5,724 Total assets$6,716 $16,762 $23,478 Accrued liabilities$7,391 $— $7,391 Total liabilities$7,391 $— $7,391 We recognized the following (losses) gains on our derivative instruments designated as cash flow hedges in other comprehensive income before reclassifications to net income (loss) (in thousands):(Losses) Gains Recognized in Other Comprehensive Income (Loss)Three months ended June 30,Six months ended June 30,2025202420252024Derivatives designated as cash flow hedging instruments:Foreign exchange forward contracts$1,830 $(3,965)$1,656 $975 Interest rate swaps(7,974)4,512 (12,065)17,905 Total derivatives designated as cash