Company: ICUI
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000883984-25-000007
Chunk: 181

Company: ICU MEDICAL INC/DE
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1
Chunk 181
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 $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 changes in our financing cash flows (in thousands):

52

For the Years Ended December 31,Variance20242023202220242023Financing Cash Flows:Proceeds from issuance of long-term debt, net of lender debt issuance costs$— $— $1,664,362 $— $(1,664,362)(1)Principal payments on long-term debt(51,000)(29,688)(22,375)(21,312)(7,313)(2)Payment of third-party debt issuance costs— — (2,177)— 2,177 (3)Proceeds from exercise of stock options10,939 4,022 8,785 6,917 (4,763)(4)Payments on finance leases(1,147)(963)(680)(184)(283)Payment of contingent earn-out(2,600)— — (2,600)— (5)Tax withholding payments related to net share settlement of equity awards(11,992)(9,350)(10,883)(2,642)1,533 (6)Net cash (used in) provided by financing activities$(55,800)$(35,979)$1,637,032 $(19,821)$(1,673,011)

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(1)    During 2022, we borrowed an aggregate of $1.7 billion under the Senior Secured Credit Facilities contained in the Credit Agreement to partially finance our acquisition of Smiths