Company: ICUI
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000883984-25-000007
Chunk: 300

Company: ICU MEDICAL INC/DE
Filing Date: 2025-02-27
Form: 10-K
Item: Item 7
Chunk 300
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 following table summarizes the changes in our investing cash flows (in thousands):

For the Years Ended December 31,Variance20242023202220242023Investing Cash Flows:Purchases of property, plant and equipment$(79,373)$(83,893)$(90,311)$4,520 $6,418 (1)Proceeds from sale of assets746 1,501 989 (755)512 Intangible asset additions(10,833)(9,777)(9,018)(1,056)(759)Business acquisitions, net of cash acquired— — (1,844,164)— 1,844,164 (2)Purchases of investment securities— — (3,397)— 3,397 (3)Proceeds from sale of investment securities500 4,222 36,433 (3,722)(32,211)(4)Net cash used in investing activities$(88,960)$(87,947)$(1,909,468)$(1,013)$1,821,521 

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(1)    Our purchases of property, plant and equipment will vary from period to period based on additional investments needed to support new and existing products and expansion of our manufacturing facilities.

(2)    Our business acquisitions will vary from period to period based upon our current growth strategy and our ability to execute on desirable target companies. In 2022, we acquired Smiths Medical. The cash consideration for the transaction was $1.9 billion, which was financed with existing cash balances and borrowings under the Credit Agreement. Acquired cash was $78.8 million.

(3)    Our purchases of investment securities will vary from period to period based on current cash needs, planning for known future transactions and changes in our investment strategy. Our investment policy allows for the purchase of securities with final maturities in excess of one year. If cash is not needed for known future transactions our investment strategy takes advantage of the long-term securities with higher yields. Typically, our longer term securities have maturities up to three years.

(4)    Proceeds from the sale of our investment securities will vary based on the maturity dates of the investments. In 2022,  proceeds from sale of investment securities includes $19.0 million received from a promissory note related to an acquired investment as part of the Smiths Medical acquisition.

Cash Flows from Financing Activities

The following table summarizes the