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Revenue (Notes) | 6 Months Ended
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Jun. 30, 2022
Revenue from Contract with Customer [Abstract] |
Revenue from Contract with Customer [Text Block] | Revenue Revenue Recognition Following our acquisition of Smiths Medical, our primary product lines are Infusion Consumables, Infusion Systems, IV Solutions, Critical Care, Infusion Systems-Smiths Medical, Vascular Access-Smiths Medical and Vital Care-Smiths Medical. The vast majority of our sales of these products 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. However, 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 offer certain volume-based rebates to our distribution customers, which we record as variable consideration when calculating the transaction price. Rebates are offered on both a fixed and tiered/variable basis. In both cases, we use information available at the time and our historical experience with each customer to estimate the most likely rebate amount. We also provide chargebacks to distributors that sell to end customers at prices determined under a contract between us and the end customer. Chargebacks are the difference between the prices we charge our distribution customers and the contracted prices we have with the end customer which are processed as credits to our distribution customers. In estimating the expected value of chargeback amounts in order to determine the transaction price, we use information available at the time, including our historical experience. We also warranty products against defects and have a policy permitting the return of defective products, for which we accrue and expense at the time of sale using information available at that time and our historical experience. We also provide for extended service-type warranties, which we consider to be separate performance obligations. We allocate a portion of the transaction price to the extended service-type warranty based on its estimated relative selling price, and recognize revenue over the period the warranty service is provided. Our revenues are recorded at the net sales price, which includes an estimate for variable consideration related to rebates, chargebacks and product returns. Revenue disaggregated The following table represents our revenues disaggregated by product line (in thousands):
| Three months ended June 30, |  | Six months ended June 30,
Product line | 2022 |  | 2021 |  | 2022 |  | 2021
Infusion Consumables | $ | 144,456 |  |  | $ | 136,200 |  |  | $ | 284,977 |  |  | $ | 262,569 |
Infusion Systems | 87,253 |  |  | 84,661 |  |  | 174,265 |  |  | 168,995 |
IV Solutions | 94,113 |  |  | 88,421 |  |  | 182,593 |  |  | 182,597 |
Critical Care | 12,373 |  |  | 12,395 |  |  | 24,530 |  |  | 25,562 |
Infusion Systems-Smiths Medical | 77,812 |  |  | — |  |  | 144,102 |  |  | — |
Vascular Access-Smiths Medical | 77,058 |  |  | — |  |  | 156,066 |  |  | — |
Vital Care-Smiths Medical | 67,939 |  |  | — |  |  | 137,593 |  |  | — |
Total Revenues | $ | 561,004 |  |  | $ | 321,677 |  |  | $ | 1,104,126 |  |  | $ | 639,723 |
Infusion Systems-Smiths Medical, Vascular Access-Smiths Medical and Vital Care-Smiths Medical represent our newly integrated product lines following our acquisition of Smiths Medical on January 6, 2022. The following table represents our revenues disaggregated by geography (in thousands):
| Three months ended June 30, |  | Six months ended June 30,
Geography | 2022 |  | 2021 |  | 2022 |  | 2021
Europe, the Middle East and Africa | $ | 87,415 |  |  | $ | 37,761 |  |  | $ | 173,619 |  |  | $ | 72,560 |
Other Foreign | 109,723 |  |  | 59,249 |  |  | 218,850 |  |  | 115,145 |
Total Foreign | 197,138 |  |  | 97,010 |  |  | 392,469 |  |  | 187,705 |
United States | 363,866 |  |  | 224,667 |  |  | 711,657 |  |  | 452,018 |
Total Revenues | $ | 561,004 |  |  | $ | 321,677 |  |  | $ | 1,104,126 |  |  | $ | 639,723 |
Contract balances The following table presents the changes in our contract balances for the six months ended June 30, 2022 and 2021 (in thousands):
| Contract Liabilities
Beginning balance, January 1, 2022 | $ | (7,461) |
Fair value of acquired deferred revenue | (51,245) |
Equipment revenue recognized | 14,606 |
Equipment revenue deferred due to implementation | (7,349) |
Software revenue recognized | 8,737 |
Software revenue deferred due to implementation | (9,067) |
Government grant deferred revenue | (2,972) |
Government grant recognized | 232 |
Other deferred revenue | (1,005) |
Other deferred revenue recognized | 2,458 |
Ending balance, June 30, 2022 | $ | (53,066) |
Beginning balance, January 1, 2021 | $ | (6,430) |
Equipment revenue recognized | 4,754 |
Equipment revenue deferred due to implementation | (5,435) |
Software revenue recognized | 4,355 |
Software revenue deferred due to implementation | (2,212) |
Ending balance, June 30, 2021 | $ | (4,968) |
As of June 30, 2022, revenue from remaining performance obligations is as follows:
| Recognition Timing
(in millions) | < 12 Months |  | > 12 Months
Equipment revenue | $ | (19,744) |  |  | $ | — |
Software revenue | (7,750) |  |  | (1,647) |
Government grant revenue | (1,175) |  |  | (13,569) |
Other revenue* | (1,903) |  |  | (7,278) |
Total | $ | (30,572) |  |  | $ | (22,494) |
_________________________________ *Other deferred revenue includes pump development programs, purchased training and extended warranty.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 + Details
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