XML 45 R23.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Accrued Expenses and Other Current Liabilities | 12 Months Ended
--- | ---
Dec. 31, 2023
Payables and Accruals [Abstract] |
Accrued Expenses and Other Current Liabilities | Accrued Expenses and Other Current Liabilities The components of accrued expenses and other current liabilities were as follows:
| As of December 31,
(in millions) | 2023 |  | 2022
Accrued rebates | $ | 144.0 |  |  | $ | 69.6 |
Employee compensation and related costs | 122.0 |  |  | 95.9 |
Professional and consulting services | 34.1 |  |  | 27.5 |
Warranty liability - current portion | 4.8 |  |  | 57.3 |
Other | 68.8 |  |  | 50.7 |
Accrued expenses and other current liabilities | $ | 373.7 |  |  | $ | 301.0 |
Product Warranty Costs Reconciliations of the changes in the Company’s product warranty liability were as follows:
| Years Ended December 31,
(in millions) | 2023 |  | 2022
Product warranty liability at beginning of year | $ | 62.1 |  |  | $ | 6.8 |
Warranty expense | 18.6 |  |  | 87.0 |
Change in estimate | (11.5) |  |  | (14.0) |
Warranty fulfillment | (58.9) |  |  | (17.7) |
Product warranty liability at end of year | $ | 10.3 |  |  | $ | 62.1 |
During the fourth quarter of 2022, the Company issued two voluntary medical device correction notices (“MDCs”), one for its Omnipod DASH PDM relating to its battery and the other for its Omnipod 5 Controller relating to its charging port and cable. During the year ended December 31, 2022, the Company initially recorded an estimated liability of $68.9 million related to these MDCs, which was subsequent revised by $11.0 million, resulting in a net charge of $57.9 million for the year ended December 31, 2022. The $11.0 million change in estimate primarily resulted from significantly fewer customers requesting a replacement Omnipod DASH PDM prior to the Company’s updated PDM being available. During the year ended December 31, 2023, the Company revised the estimated liability for these MDCs by an additional $11.5 million. This change in estimate primarily resulted from lower distribution costs. The Company had a liability of $0.7 million and $54.6 million related to the MDCs included in its product warranty liability at December 31, 2023, and 2022, respectively.

X
- Definition The entire disclosure for accounts payable, accrued expenses, and other liabilities that are classified as current at the end of the reporting period. + References No definition available. + Details
Name: | us-gaap_AccountsPayableAccruedLiabilitiesAndOtherLiabilitiesDisclosureCurrentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_PayablesAndAccrualsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration