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Restructuring, Strategic Transaction and Integration (Notes) | 9 Months Ended
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Sep. 30, 2023
Restructuring and Related Activities [Abstract] |
Restructuring and Related Activities Disclosure | Restructuring, Strategic Transaction and Integration Restructuring, strategic transaction and integration expenses were $7.2 million and $14.4 million for the three months ended September 30, 2023 and 2022, respectively and $30.5 million and $61.8 million for the nine months ended September 30, 2023 and 2022 respectively. Restructuring During the three and nine months ended September 30, 2023, restructuring charges were $1.1 million and $5.1 million, respectively, as compared to $2.4 million and $7.3 million, respectively, for the three and nine months ended September 30, 2022 and were primarily related to severance costs for all periods. The restructuring charges for the three and nine months ended September 30, 2023 are net of $0.2 million of facility closures costs that were reversed in the current periods. The following table summarizes the activity in our restructuring-related accrual by major type of cost (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 |
Charges incurred |  | 1,290 |  |  |  |  | 20 |  |  | 1,310 |
Payments |  | (3,302) |  |  |  |  | (27) |  |  | (3,329) |
Currency translation |  | 227 |  |  |  |  | 17 |  |  | 244 |
Accrued balance, June 30, 2023 |  | $ | 3,858 |  |  |  |  | $ | 913 |  |  | $ | 4,771 |
Charges incurred |  | 583 |  |  |  |  | 522 |  |  | 1,105 |
Payments |  | (802) |  |  |  |  | (495) |  |  | (1,297) |
Other(2) |  | — |  |  |  |  | (165) |  |  | (165) |
Currency translation |  | (52) |  |  |  |  | (27) |  |  | (79) |
Accrued balance, September 30, 2023 |  | $ | 3,587 |  |  |  |  | $ | 748 |  |  | $ | 4,335 |
__________________________ (1) Primarily relates to prior year accrued restructuring charges for estimated facility closure costs that were reversed during the three months ended March 31, 2023. (2) Primarily relates to prior year accrued restructuring charges for estimated facility closure costs that were reversed during the three months ended September 30, 2023. Strategic Transaction and Integration Expenses We incurred and expensed $6.1 million and $12.0 million in strategic transaction and integration expenses during the three months ended September 30, 2023 and 2022, respectively, and we incurred and expensed $25.4 million and $54.5 million in strategic transaction and integration expenses during the nine months ended September 30, 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 and nine months ended September 30, 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 and nine months ended September 30, 2022 were primarily related to transaction and integration expenses associated with our acquisition of Smiths Medical on January 6, 2022 (see Note 3: Acquisitions) which primarily included legal expenses, bank fees, and employee costs. The nine months ended September 30, 2022 also included a United Kingdom stamp tax.

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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 -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//420/tableOfContent Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(e)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479823/420-10-S99-2 + Details
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