Accrued Liabilities (Tables)

9 Months Ended

Sep. 30, 2024

Accrued Liabilities [Abstract]

Schedule of Accrued Liabilities [Table Text Block]

Accrued liabilities consist of the following (in thousands): 

	As of
	September 30, 2024		December 31, 2023
Salaries and benefits	$	68,206	$	52,250
Incentive compensation	53,884		37,992
Operating lease liability-ST	17,094		20,161
Accrued sales taxes	4,931		6,748
Restructuring accrual	10,763		3,568
Deferred revenue	26,932		31,640
Accrued other taxes	6,846		3,024
Accrued professional fees	4,503		2,803
Italy medical device payback provision(1)	25,169		23,176
Legal accrual	2,715		1,874
Distribution fees	20,778		13,049
Warranties and returns	3,564		3,682
Field service corrective action(2)	38,599		30,281
Accrued freight	16,118		17,215
Foreign exchange contracts	9,878		2,590
Accrued audit fees	4,943		5,492
Defined benefit plan	2,019		2,575
Accrued interest	680		1,431
Other	8,106		8,664
	$	325,728	$	268,215

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(1)     Related to potential payments associated with the IMDP (as defined below) 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 18: Commitments and Contingencies for further details).

(2)     Primarily includes field service 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 18: Commitments and Contingencies for further details).

Other long-term liabilities consist of the following (in thousands): 

	As of
	September 30, 2024		December 31, 2023
Operating lease liability-LT	$	45,328	$	52,972
Benefits	3,909		4,207
Accrued rent	699		841
Finance lease liability-LT	2,240		1,954
Deferred revenue	10,036		10,585
Field service corrective action(1)	12,599		26,056
Other	5,578		3,882
	$	80,389	$	100,497