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Restructuring, Strategic Transaction and Integration (Notes) | 3 Months Ended
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Mar. 31, 2023
Restructuring and Related Activities [Abstract] |
Restructuring and Related Activities Disclosure | Restructuring, Strategic Transaction and Integration Restructuring, strategic transaction and integration expenses were $11.0 million and $33.9 million for the three months ended March 31, 2023 and 2022, respectively. Restructuring During the three months ended March 31, 2023 and 2022, restructuring charges were $2.7 million and $3.2 million, respectively and were primarily related to severance costs. The following table summarizes the activity in our restructuring-related accrual by major type of cost for the three months ended March 31, 2023 (in thousands):
|  | Severance Pay and Benefits |  |  |  | Retention and Facility Closure Costs |  | Total
Accrued balance, January 1, 2023 |  | $ | 4,416 |  |  |  |  | $ | 1,507 |  |  | $ | 5,923 |
Charges incurred |  | 2,732 |  |  |  |  | — |  |  | 2,732 |
Payments |  | (1,284) |  |  |  |  | — |  |  | (1,284) |
Other(1) |  | (291) |  |  |  |  | (620) |  |  | (911) |
Currency translation |  | 70 |  |  |  |  | 16 |  |  | 86 |
Accrued balance, March 31, 2023 |  | $ | 5,643 |  |  |  |  | $ | 903 |  |  | $ | 6,546 |
__________________________ (1) Other, primarily relates to prior year accrued restructuring charges for estimated facility closure costs that were reversed during the three months ended March 31, 2023. Strategic Transaction and Integration Expenses We incurred and expensed $8.3 million and $30.7 million in strategic transaction and integration expenses during the three months ended March 31, 2023 and 2022, respectively, which are included in restructuring, strategic transaction and integration expenses in our condensed consolidated statements of operations. The strategic transaction and integration expenses during the three months ended March 31, 2023 were primarily related to consulting expenses and employee costs incurred to integrate our Smiths Medical business acquired in 2022. The strategic transaction and integration expenses for the three months ended March 31, 2022 were primarily related to transaction and integration expenses associated with our acquisition of Smiths Medical (see Note 3: Acquisitions) which primarily included legal expenses, bank fees, a United Kingdom stamp tax, and employee costs.

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(e)) -URI https://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI https://asc.fasb.org/topic&trid=2175745 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b)(2) -URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 + Details
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