Company: ICUI
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0000883984-25-000035
Chunk: 92

Company: ICU MEDICAL INC/DE
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 1
Chunk 92
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 absolute and irrevocable transfer constituting a true sale as the transferred receivables have been isolated beyond the reach of the Company and our creditors, even in bankruptcy or other receivership. We do not retain effective control over the sold receivables and BMO has the right upon purchase to pledge and/or exchange the transferred assets without restrictions. The Company acts as collection agent for BMO and collection services are undertaken by our accounts receivable personnel in their normal course of business and collected funds are remitted to BMO. We do not have any continuing involvement with the sold receivables other than the collection services which does not provide us with more than a trivial benefit. The discount rate has been negotiated net of consideration for the collection services, the cost of collection is immaterial to the Company; therefore, we did not separately record any related servicing assets or liabilities related to the sold receivables.The following table presents information in connection with the purchase program (in thousands):Three months ended September 30,Nine months ended September 30,2025202420252024Trade receivables sold(1)$— $86,991 $10,009 $435,438 Cash received in exchange for trade receivables sold(2)— 86,521 9,978 432,803 Loss on sale of receivables(3)— 469 32 2,635 _______________________________(1)    Represents carrying value of trade receivables sold to BMO.(2)    Cash proceeds received from BMO.(3)      Reflected in other expense, net in our condensed consolidated statement of operations.As of September 30, 2025 and December 31, 2024, there were no outstanding balances to be collected on behalf of BMO.

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

Note 23: Subsequent Event

On October 31, 2025 (the "Closing Date"), ICU Medical, Inc., as Borrower, entered into Amendment No. 2 to the Existing Credit Agreement (the "Amendment") with Wells Fargo Bank and certain other financial institutions (the “Lenders”) to refinance the existing Term Loan A and the existing Revolving Credit Facility under the Credit Agreement dated as of January 6, 2022 (as amended by Amendment No. 1, dated as of October 5,