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Restructuring, Strategic Transaction and Integration (Notes) | 12 Months Ended
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Dec. 31, 2023
Restructuring and Related Activities [Abstract] |
Restructuring and Related Activities Disclosure [Text Block] | RESTRUCTURING, STRATEGIC TRANSACTION AND INTEGRATION Restructuring, strategic transaction and integration expenses were $41.3 million, $71.4 million and $18.0 million in 2023, 2022 and 2021, respectively. Restructuring Restructuring charges net of any reversed accruals were $5.7 million, $9.7 million and $(1.8) million in 2023, 2022 and 2021, respectively, and are included in the above restructuring, strategic transaction and integration expenses in our consolidated statement of operations. In 2023, we incurred restructuring charges primarily related to severance expenses. We adjusted certain facility and severance restructuring accrued balances, shown in the table below under "Other adjustments", to reverse certain accrued balances that will not be utilized. In 2022, we incurred restructuring charges primarily related to severance in connection with the January 6, 2022 acquisition of Smiths Medical, see Note 2: Acquisitions. In 2021, we adjusted certain facility restructuring liabilities by $2.0 million, shown in the table below under "Other adjustments," to reflect actual amounts owed which resulted in net restructuring credits of $(1.8) million. 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, 2022 |  | $ | 499 |  |  |  | $ | 165 |  |  | $ | 664 |
Acquired restructuring charges |  | 5,796 |  |  |  | 1,740 |  |  | 7,536 |
Charges incurred |  | 9,667 |  |  |  | 58 |  |  | 9,725 |
Payments |  | (11,083) |  |  |  | (268) |  |  | (11,351) |
Currency translation |  | (425) |  |  |  | (188) |  |  | (613) |
Other adjustments |  | (38) |  |  |  | — |  |  | (38) |
Accrued balance, December 31, 2022 |  | $ | 4,416 |  |  |  | $ | 1,507 |  |  | $ | 5,923 |
Charges incurred |  | 5,521 |  |  |  | 1,189 |  |  | 6,710 |
Payments |  | (6,694) |  |  |  | (1,192) |  |  | (7,886) |
Other adjustments(1) |  | (234) |  |  |  | (785) |  |  | (1,019) |
Currency translation |  | (198) |  |  |  | 38 |  |  | (160) |
Accrued balance, December 31, 2023 |  | $ | 2,811 |  |  |  | $ | 757 |  |  | $ | 3,568 |
_______________________________________________ (1) Relates to accrued restructuring charges for estimated facility closure costs and severance costs that will not be utilized and were reversed during the year. Strategic Transaction and Integration Expenses We incurred $35.6 million, $61.7 million and $19.8 million in strategic transaction and integration expenses in 2023, 2022 and 2021, respectively, which are included in restructuring, strategic transaction and integration expenses in our consolidated statement of operations. The strategic transaction and integration expenses during 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 during 2022 were primarily related to transaction and integration expenses associated with our acquisition of Smiths Medical on January 6, 2022 (see Note 2: Acquisitions) which primarily included legal expenses, bank fees, employee costs and a United Kingdom stamp tax. The strategic transaction and integration expenses during 2021 were related to integration costs associated with acquisitions, the Hospira Infusion Systems ("HIS") earn-out dispute with Pfizer, one-time costs incurred to comply with regulatory initiatives and transaction expenses incurred in connection with entering into a definitive agreement to acquire Smiths Medical.

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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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