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General and Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2024
Accounting Policies [Abstract] |
Schedule of Inventory, Current [Table Text Block] | Inventories consist of the following (in thousands):
| As of December 31,
| 2024 |  | 2023
Raw materials | $ | 265,275 |  |  | $ | 296,037 |
Work in process | 37,528 |  |  | 58,906 |
Finished goods | 281,873 |  |  | 354,417 |
Total | $ | 584,676 |  |  | $ | 709,360 |
_____________________________ As of December 31, 2024, inventory account balances that are part of a disposal group that met the criteria for assets held for sale during the fourth quarter of 2024 were combined with other disposal group assets and presented as a separate line item "Assets Held For Sale" in our consolidated balance sheet (See Note 4:Assets Held For Sale).
Property, Plant and Equipment [Table Text Block] | Property, plant and equipment consists of the following (in thousands):
| As of December 31,
| 2024 |  | 2023
Machinery and equipment(1) | $ | 400,861 |  |  | $ | 483,382 |
Land, building and building improvements(1) | 177,089 |  |  | 278,251 |
Molds | 96,318 |  |  | 89,573 |
Computer equipment and software(1) | 122,208 |  |  | 122,038 |
Furniture and fixtures(1) | 27,871 |  |  | 30,662 |
Instruments placed with customers(2) | 124,290 |  |  | 115,672 |
Construction in progress(1) | 87,006 |  |  | 117,219 |
Total property, plant and equipment, cost | 1,035,643 |  |  | 1,236,797 |
Accumulated depreciation(1) | (592,897) |  |  | (623,888) |
Property, plant and equipment, net (1) | $ | 442,746 |  |  | $ | 612,909 |
_______________________________ (1) As of December 31, 2024, certain property, plant and equipment category account balances that are part of a disposal group that met the criteria for assets held for sale during the fourth quarter of 2024 were combined with other disposal group assets and presented as a separate line item "Assets held For Sale" in our consolidated balance sheet, $99.4 million of accumulated depreciation was included in the disposal group and reclassified to assets held for sale. See Note 4: Assets Held For Sale. (2) Instruments placed with customers consist of drug-delivery and monitoring systems placed with customers under operating leases. All property, plant and equipment are stated at cost. We use the straight-line method for depreciating property, plant and equipment over their estimated useful lives. Estimated useful lives are:
Buildings | 15 - 30 years
Building improvements | 15 - 30 years
Machinery and equipment and molds | 2 - 15 years
Furniture, fixtures and office equipment | 2 - 5 years
Computer equipment and software | 3 - 5 years
Instruments placed with customers | 3 - 10 years
Schedule of Goodwill | The following table presents the changes in the carrying amount of our goodwill for 2024, 2023 and 2022 (in thousands):
|  | Total
Balance as of January 1, 2022 |  | $ | 43,439 |
Goodwill(1) |  | 1,469,880 |
Other(2) |  | (7,128) |
Disposition(3) |  | (650) |
Currency translation |  | (56,283) |
Balance as of December 31, 2022 |  | 1,449,258 |
Currency translation |  | 23,188 |
Balance as of December 31, 2023 |  | 1,472,446 |
Currency translation |  | (39,674) |
Balance as of December 31, 2024 |  | $ | 1,432,772 |
_______________________________ (1) Relates to Smiths Medical acquired on January 6, 2022 (see Note 2: Acquisitions). (2) Reflects a measurement period adjustment related to the 2021 acquisition of a small foreign infusion systems supplier. (3) Relates to the sale of a certain line of infusion products in China.
Schedule of Indefinite-Lived Intangible Assets | Intangible assets, carried at cost less accumulated amortization and amortized on a straight-lined basis, were as follows (in thousands):
|  | Weighted-Average Amortization Life in Years |  | December 31, 2024
|  |  | Cost |  | Accumulated Amortization |  | Net
Patents |  | 10 |  | $ | 36,811 |  |  | $ | 22,913 |  |  | $ | 13,898 |
Customer contracts |  | 12 |  | 9,818 |  |  | 6,994 |  |  | 2,824 |
Non-contractual customer relationships |  | 8 |  | 546,404 |  |  | 236,267 |  |  | 310,137 |
Trademarks |  | 1 |  | 5,425 |  |  | 5,425 |  |  | — |
Trade name |  | 15 |  | 18,239 |  |  | 8,357 |  |  | 9,882 |
Developed technology(1) |  | 10 |  | 619,540 |  |  | 227,869 |  |  | 391,671 |
Non-compete |  | 3 |  | 9,100 |  |  | 9,100 |  |  | — |
Total amortized intangible assets |  |  |  | $ | 1,245,337 |  |  | $ | 516,925 |  |  | $ | 728,412 |
Internally developed software(2) |  |  |  | $ | 12,377 |  |  |  |  | $ | 12,377 |
Total intangible assets |  |  |  | $ | 1,257,714 |  |  | $ | 516,925 |  |  | $ | 740,789 |
_______________________________ (1) Developed technology primarily consists acquired patented technologies and internally developed software. Upon completion of development, the assets will be amortized over their estimated useful lives. (2) Internally developed software will be reclassified to developed technology and amortized when the projects are complete and the assets are ready for their intended use. During 2024, we reclassified $33.2 million to developed technology.
|  | Weighted-Average Amortization Life in Years |  | December 31, 2023
|  |  | Cost |  | Accumulated Amortization |  | Net
Patents |  | 10 |  | $ | 33,261 |  |  | $ | 20,637 |  |  | $ | 12,624 |
Customer contracts |  | 12 |  | 10,018 |  |  | 6,755 |  |  | 3,263 |
Non-contractual customer relationships |  | 8 |  | 554,982 |  |  | 171,279 |  |  | 383,703 |
Trademarks |  | 1 |  | 5,425 |  |  | 5,425 |  |  | — |
Trade name |  | 15 |  | 18,251 |  |  | 7,162 |  |  | 11,089 |
Developed technology |  | 10 |  | 587,852 |  |  | 167,913 |  |  | 419,939 |
Non-compete |  | 3 |  | 9,100 |  |  | 7,450 |  |  | 1,650 |
Total amortized intangible assets |  |  |  | $ | 1,218,889 |  |  | $ | 386,621 |  |  | $ | 832,268 |
Internally developed software* |  |  |  | $ | 38,320 |  |  |  |  | $ | 38,320 |
Total intangible assets |  |  |  | $ | 1,257,209 |  |  | $ | 386,621 |  |  | $ | 870,588 |
_______________________________ * Internally developed software will be amortized when the projects are complete and the assets are ready for their intended use.
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | As of December 31, 2024, estimated annual amortization for our intangible assets for each of the next five years and thereafter is approximately (in thousands):
2025 |  | $ | 129,604 |
2026 |  | 127,612 |
2027 |  | 117,450 |
2028 |  | 116,852 |
2029 |  | 113,775 |
Thereafter |  | 123,119 |
Total |  | $ | 728,412 |
Debt Securities, Available-for-sale |
| As of December 31, 2023
| Amortized Cost |  | Unrealized Holding Gains (Losses) |  | Fair Value
Short-term corporate bonds | $ | 501 |  |  | $ | — |  |  | $ | 501 |
Schedule of Available-for-Sale Securities Reconciliation | As of December 31, 2024, we did not have any investment securities. As of December 31, 2023, the amortized cost, unrealized holding gains (losses) and fair value of our available-for-sale investment securities were as follows (in thousands):
| As of December 31, 2023
| Amortized Cost |  | Unrealized Holding Gains (Losses) |  | Fair Value
Short-term corporate bonds | $ | 501 |  |  | $ | — |  |  | $ | 501 |
Equity Method Investments | Our non-marketable equity method investment consists of the following (in thousands):
| As of December 31,
| 2024 |  | 2023
Equity method investment | $ | 3,038 |  |  | $ | 3,120 |
Interest Income and Interest Expense Disclosure | Interest expense, net The following table presents interest (expense) income, net (in thousands):
| As of December 31,
| 2024 |  | 2023 |  | 2022
Interest expense | $ | (106,541) |  |  | $ | (102,727) |  |  | $ | (70,805) |
Interest income | 10,788 |  |  | 7,508 |  |  | 4,430 |
Interest expense, net | $ | (95,753) |  |  | $ | (95,219) |  |  | $ | (66,375) |
Schedule of Other Nonoperating Income (Expense) | Other expense, net The following table presents other expense, net (in thousands):
| As of December 31,
| 2024 |  | 2023 |  | 2022
Foreign exchange losses, net | $ | (9,792) |  |  | $ | (5,918) |  |  | $ | (5,780) |
Loss on disposition of assets | (1,608) |  |  | (153) |  |  | (2,554) |
Other miscellaneous (expense) income, net | (1,823) |  |  | 166 |  |  | 3,198 |
Other expense, net | $ | (13,223) |  |  | $ | (5,905) |  |  | $ | (5,136) |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | The following table presents the calculation of net earnings per common share (“EPS”) — basic and diluted (in thousands, except per share data):
|  | Year ended December 31,
|  | 2024 |  | 2023 |  | 2022
Net loss |  | $ | (117,688) |  |  | $ | (29,655) |  |  | $ | (74,286) |
Weighted-average number of common shares outstanding (basic) |  | 24,388 |  |  | 24,091 |  |  | 23,868 |
Dilutive securities |  | — |  |  | — |  |  | — |
Weighted-average common and common equivalent shares outstanding (diluted) |  | 24,388 |  |  | 24,091 |  |  | 23,868 |
EPS — basic |  | $ | (4.83) |  |  | $ | (1.23) |  |  | $ | (3.11) |
EPS — diluted |  | $ | (4.83) |  |  | $ | (1.23) |  |  | $ | (3.11) |
Total anti-dilutive stock options and restricted stock awards (shares in thousands) |  | 42 |  |  | 129 |  |  | 141 |

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