Company: ICUI
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000883984-25-000016
Chunk: 40

Company: ICU MEDICAL INC/DE
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 1
Chunk 40
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 as held for sale.The following table summarizes the carrying values of the assets and liabilities presented as held for sale in our consolidated balance sheet as of March 31, 2025 and December 31, 2024 (in thousands):As ofAssets:March 31, 2025December 31, 2024Accounts receivable, net of allowance of $907 and $465 at March 31, 2025 and December 31, 2024, respectively$5,958 $13,331 Inventories97,413 88,656 Prepaid expenses and other current assets2,766 4,140 Property, plant and equipment, net157,152 155,426 Other assets22,833 22,829 Total assets held for sale$286,122 $284,382 Liabilities:Accounts payable$16,832 $13,533 Accrued liabilities12,832 19,378 Total liabilities held for sale$29,664 $32,911 Net assets held for sale$256,458 $251,471 

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

Note 5:  Revenue

Revenue Recognition    Our business units are Consumables, Infusion Systems and Vital Care. The vast majority of our sales of these products within these business units are made on a stand-alone basis to hospitals and distributors. Revenue is typically recognized upon transfer of control of the products, which we deem to be at point of shipment. For purposes of revenue recognition for our software licenses and renewals, we consider the control of these products to be transferred to a customer at a certain point in time; therefore, we recognize revenue at the start of the applicable license term.    Payment is typically due in full within 30 days of delivery or the start of the contract term. Revenue is recorded in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services. We include variable consideration in net sales only to the extent that a significant reversal in revenue is not probable when the uncertainty is resolved. Our variable consideration includes distributor chargebacks, product returns and end customer rebates with distributor chargebacks representing the majority and subject to the greatest judgment.Chargebacks are the difference between the prices we charge our distribution customers at the time they purchase our products and the contracted prices we have with the