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Supplemental Financial Information | 9 Months Ended
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Sep. 30, 2017
Balance Sheet Related Disclosures [Abstract] |
Supplemental Financial Information | Supplemental Financial Information Accounts receivable, net, consisted of the following (in thousands):
|  | September 30, 2017 |  | December 31, 2016
Trade receivables from third parties |  | $ | 326,498 |  |  | $ | 285,336 |
Allowance for bad debt |  | (12,457 | ) |  | (9,606 | )
|  | $ | 314,041 |  |  | $ | 275,730 |
Inventories consisted of the following (in thousands):
|  | September 30, 2017 |  | December 31, 2016
Raw materials |  | $ | 51,628 |  |  | $ | 47,704 |
Work-in-process |  | 39,873 |  |  | 32,316 |
Finished goods |  | 123,092 |  |  | 103,469 |
|  | $ | 214,593 |  |  | $ | 183,489 |
Inventories are reported net of the provision for obsolescence which totaled $13.7 million and $9.8 million at September 30, 2017 and December 31, 2016, respectively. Prepaid expenses and other current assets consisted of the following (in thousands):
|  | September 30, 2017 |  | December 31, 2016
Income taxes payable on inter-company transfers of property (1) |  | $ | 19,445 |  |  | $ | 19,445 |
Deposits and advances to suppliers |  | 7,298 |  |  | 5,417 |
Earthquake grant receivable |  | 4,983 |  |  | 4,748 |
Unbilled receivables |  | 4,363 |  |  | — |
Escrow deposit - Caisson |  | 2,000 |  |  | — |
Current loans and notes receivable |  | 1,553 |  |  | 7,093 |
Derivative contract assets |  | — |  |  | 8,269 |
Other prepaid expenses |  | 15,534 |  |  | 11,001 |
|  | $ | 55,176 |  |  | $ | 55,973 |
(1) | The income taxes payable on intercompany transfers of property asset is the asset account created to defer the income tax effect of an intercompany intellectual property sale pursuant to ASC 810-10-45-8.
Other assets consisted of the following (in thousands):
|  | September 30, 2017 |  | December 31, 2016
Income taxes payable on inter-company transfers of property (1) |  | $ | 109,971 |  |  | $ | 124,551 |
Investments (2) |  | 2,316 |  |  | 2,537 |
Loans and notes receivable |  | 1,964 |  |  | 2,029 |
Escrow deposit - Caisson |  | 1,000 |  |  | — |
Guaranteed deposits |  | 777 |  |  | 940 |
Other |  | 1,827 |  |  | 641 |
|  | $ | 117,855 |  |  | $ | 130,698 |
(1) | The income taxes payable on intercompany transfers of property asset is the asset account created to defer the income tax effect of an intercompany intellectual property sale pursuant to ASC 810-10-45-8.
(2) | Primarily cash surrender value of company owned life insurance policies.
Accrued liabilities and other consisted of the following (in thousands):
|  | September 30, 2017 |  | December 31, 2016
Product remediation liability (1) |  | $ | 20,060 |  |  | $ | 23,464 |
Deferred compensation - Caisson acquisition |  | 14,137 |  |  | — |
Legal and other administrative costs |  | 7,863 |  |  | 6,184 |
Provisions for agents, returns and other |  | 8,505 |  |  | 7,271 |
Restructuring related liabilities |  | 5,098 |  |  | 16,859 |
Product warranty obligations |  | 1,747 |  |  | 2,736 |
Royalty costs |  | 2,048 |  |  | 2,503 |
Escrow indemnity liability - Caisson |  | 2,000 |  |  | — |
Deferred income |  | 4,752 |  |  | — |
Government grants |  | 1,275 |  |  | 1,708 |
Derivative contract liabilities (2) |  | 3,055 |  |  | 942 |
Research and development costs |  | 1,173 |  |  | 839 |
Other |  | 20,499 |  |  | 13,061 |
|  | $ | 92,212 |  |  | $ | 75,567 |
(1) | Refer to “Note 4. Product Remediation Liability.”
(2) | Refer to “Note 8. Derivatives and Risk Management.”
Other long-term liabilities consisted of the following (in thousands):
|  | September 30, 2017 |  | December 31, 2016
Contingent consideration (1) |  | $ | 34,217 |  |  | $ | 3,890 |
Uncertain tax positions |  | 12,349 |  |  | 11,108 |
Product remediation liability (2) |  | 10,186 |  |  | 10,023 |
Government grants |  | 5,889 |  |  | 3,803 |
Derivative contract liabilities (3) |  | 932 |  |  | 1,392 |
Escrow indemnity liability - Caisson |  | 1,000 |  |  | — |
Unfavorable operating leases (4) |  | 256 |  |  | 1,672 |
Other |  | 9,575 |  |  | 7,599 |
|  | $ | 74,404 |  |  | $ | 39,487 |
(1) | The contingent consideration liability represents contingent payments related to three acquisitions: the first and second acquisitions, in September 2015, were Cellplex PTY Ltd. in Australia and the commercial activities of a local distributor in Colombia. The contingent payments for the first acquisition are based on achievement of sales targets by the acquiree through June 30, 2018 and the contingent payments for the second acquisition are based on sales of cardiopulmonary disposable products and heart lung machines of the acquiree through December 2019. Refer to “Note 6. Fair Value Measurements.” The third acquisition, Caisson, occurred in May 2017. Refer to “Note 2. Acquisitions.”
(2) | Refer to “Note 4. Product Remediation Liability.”
(3) | Refer to “Note 8. Derivatives and Risk Management.”
(4) | Unfavorable operating leases represent the adjustment to recognize future lease obligations at their estimated fair value in conjunction with the Mergers.

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