Company: ICUI
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0000883984-25-000035
Chunk: 78

Company: ICU MEDICAL INC/DE
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 1
Chunk 78
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 Liabilities 

    Accrued liabilities consist of the following (in thousands): As of September 30, 2025December 31, 2024Salaries and benefits$82,685 $60,815 Incentive compensation56,794 59,445 Deferred revenue28,900 30,358 Italy medical device payback provision(1)23,646 23,937 Field service corrective action(2)29,264 32,844 Other94,814 99,524  $316,103 $306,923 ___________________________(1)     Related to potential payments associated with the Italy Medical Device Payback ("IMDP") as a result of 2015 legislation enacted requiring medical device companies to make payments to the Italian government based on regional expenditure ceilings (see Note 20: Commitments and Contingencies for further details).(2)     Primarily includes field corrective actions associated with certain products in connection with a 2021 Warning Letter (as defined below) received by Smiths Medical from the FDA following an inspection of Smiths Medical's Oakdale, Minnesota Facility (see Note 20: Commitments and Contingencies for further details).

As of December 31, 2024, certain accrued liability account balances that were part of a disposal group that met the criteria for assets held for sale during the fourth quarter of 2024 were presented as a separate line item "Liabilities held for sale" in our consolidated balance sheet (See Note 4:Assets Held For Sale and Disposal of Business). 

Note 17:      Income Taxes

 Income taxes were accrued at an estimated effective tax rate of 26% and 25% for the three and nine months ended September 30, 2025, respectively, as compared to (84)% and (26)% for the three and nine months ended September 30, 2024, respectively.The effective tax rate for the three and nine months ended September 30, 2025 differs from the federal statutory rate of 21% principally because of the effect of the mix of U.S. and foreign incomes, section 162(m) excess compensation, federal and state valuation allowance, tax credits, and the following discrete items recognized during the interim period:•Tax expense of $0.0 million and $6.1 million related to the sale of a 60% interest of our IV solutions business during the three and nine months ended