Company: ICUI
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000883984-25-000007
Chunk: 297

Company: ICU MEDICAL INC/DE
Filing Date: 2025-02-27
Form: 10-K
Item: Item 7
Chunk 297
---
. 

Operating Leases

We have non-cancelable operating lease agreements where we are contractually obligated for certain lease payment amounts. For more information regarding our operating lease obligations, see Note 7: Leases in our accompanying consolidated financial statements. 

Long-term Debt Obligations

As discussed above, in January 2022, we incurred borrowings under Senior Secured Credit Facilities. The principal repayment obligations and estimated interest payments on the term loans and estimated commitment fee payments on the revolver are estimated in the table below. Interest payments on the term loans were estimated using an Adjusted Term SOFR rate and an applicable margin on of 2.00% for term loan A and 2.50% for term loan B and the revolver commitment fees were estimated using a rate of 0.30%. The applicable margin rate and commitment fee rate will change from time to time in accordance with a preset pricing grid based on the leverage ratio (see Note 13: Long-Term Obligations in our accompanying consolidated financial statements for pricing grids related to the Senior Secured Credit Facilities). 

We expect to fund these obligations with our existing cash and cash equivalents and cash generated from our future operations. 

50

(in millions)20252026202720282029ThereafterTerm Loan A Principal Payments$42.5 $63.8 $664.1 $— $— $— Term Loan A Interest Payments47.9 41.9 0.6 — — — Term Loan B Principal Payments8.5 8.5 8.5 8.5 792.6 — Term Loan B Interest Payments56.4 54.2 52.4 51.5 0.8 — Revolver Commitment Fee1.5 1.3 — — — — $156.8 $169.7 $725.6 $60.0 $793.4 $— 

Other Future Capital Investments

In connection with the January 2022 acquisition of Smiths Medical, we estimate the investment needed in 2025 for restructuring and integration expenses along with spending to support quality systems and quality compliance objectives to be in the range of $90 million to $110 million, which includes acquired accrued field action liabilities. We expect to fund these obligations with our cash and cash equivalents and cash generated from our operations.

Contingent Payments

In 2015, the Italy Medical Device Payback