Fair Value Measures and Disclosures (Tables)

6 Months Ended

Jun. 30, 2025

Our assets and liabilities measured at fair value on a recurring basis consisted of the following Level 1, 2 and 3 inputs as defined above (in thousands):


	Fair value measurements as of June 30, 2025
	Total carrying value		Quoted prices in active markets for identical assets (level 1)		Significant other observable inputs (level 2)		Significant unobservable inputs (level 3)
Assets:






Foreign exchange contracts:
Prepaid expenses and other current assets	$	3,434	$	—	$	3,434	$	—






Total Assets	$	3,434	$	—	$	3,434	$	—

Liabilities:


Foreign exchange contracts:
Accrued liabilities	$	2,971	$	—	$	2,971	$	—

Interest rate swaps:
Other long-term liabilities	2,084		—		2,084		—
Total Liabilities	$	5,055	$	—	$	5,055	$	—


	Fair value measurements as of December 31, 2024
	Total carrying value		Quoted prices in active markets for identical assets (level 1)		Significant other observable inputs (level 2)		Significant unobservable inputs (level 3)
Assets:






Foreign exchange forwards:
Prepaid expenses and other current assets	$	6,716	$	—	$	6,716	$	—

Interest rate contracts:
Prepaid expenses and other current assets	11,038		—		11,038		—
Other assets	5,724		—		5,724		—

Total Assets	$	23,478	$	—	$	23,478	$	—

Liabilities:





Foreign exchange contracts:
Accrued liabilities	$	7,391	$	—	$	7,391	$	—

Total Liabilities	$	7,391	$	—	$	7,391	$	—

Nonrecurring Fair Value Measurements

We measure certain items on a nonrecurring basis due to particular circumstances or when specific transactions occur such as a retained investment resulting from a partial sale. On May 1, 2025, we measured our retained equity method investment in Otsuka ICU Medical LLC (see Note 11: Investment Securities) at fair value in connection to the sale of a 60% interest of our IV Solutions business (see Note 4: Assets Held for Sale and Disposal of Business). The fair value was estimated using a market-based approach and is classified as a Level 3 fair value measurement.