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Financing Arrangements | 9 Months Ended
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Sep. 30, 2025
Debt Disclosure [Abstract] |
Financing Arrangements | Note 4. Financing Arrangements The following table presents a summary of LivaNova’s long-term debt obligations (in thousands, except interest rates):
|  | September 30, 2025 |  | December 31, 2024 |  | Maturity |  | Interest Rate
Term Facilities |  | $ | 101,403 |  |  | $ | 313,014 |  |  | July 2027 |  | 7.38%
2029 Notes |  | 270,994 |  |  | 258,043 |  |  | March 2029 |  | 2.50%
2025 Notes |  | 56,683 |  |  | 53,887 |  |  | December 2025 |  | 3.00%
Bank of America, U.S. |  | — |  |  | 1,500 |  |  |  |  |
Other |  | 5,374 |  |  | 519 |  |  |  |  |
Total long-term facilities |  | 434,454 |  |  | 626,963 |  |  |  |  |
Less: Current portion of long-term debt |  | 85,423 |  |  | 77,339 |  |  |  |  |
Total long-term debt obligations |  | $ | 349,031 |  |  | $ | 549,624 |  |  |  |  |
Revolving Credit and Term Facilities The outstanding principal amount of LivaNova’s short-term unsecured revolving credit agreements and other agreements with various banks was $17 thousand and $0.7 million at September 30, 2025 and December 31, 2024, respectively. There were no outstanding borrowings under the $225.0 million revolving facilities under the 2021 First Lien Credit Agreement as of September 30, 2025 and December 31, 2024. As of September 30, 2025 and December 31, 2024, the applicable commitment fee percentage was 0.25% per annum and 0.5% per annum, respectively. As of September 30, 2025, the Company was in compliance with the financial covenants contained in the 2021 First Lien Credit Agreement. Debt discount and issuance costs related to the Initial Term Facility were $9.6 million. The unamortized debt discount and issuance costs related to the Initial Term Facility were $1.1 million and $4.8 million as of September 30, 2025 and December 31, 2024, respectively. On May 2, 2025, LivaNova made an early repayment of $200 million on principal borrowings under the Term Facilities. The early repayment resulted in the recognition of a loss on debt extinguishment of $2.7 million for the nine months ended September 30, 2025, associated with the write-off of unamortized debt issuance costs, and is included within loss on debt extinguishment on the condensed consolidated statements of income (loss). 2029 Notes The effective interest rate of the 2029 Notes was 9.84% as of September 30, 2025. The unamortized debt discount and issuance costs related to the 2029 Notes as of September 30, 2025 and December 31, 2024 were $74.0 million and $87.0 million, respectively. As of September 30, 2025, the conditions for conversion were not met. The Company included its obligations from the 2029 Notes and the associated embedded derivative as long-term liabilities on the condensed consolidated balance sheet as of September 30, 2025, and the 2029 Notes are not convertible for the three months ended December 31, 2025. For additional information regarding the 2029 Notes, refer to LivaNova’s 2024 Form 10-K. 2025 Notes The effective interest rate of the 2025 Notes was 9.92% as of September 30, 2025. The unamortized debt discount and issuance costs related to the 2025 Notes as of September 30, 2025 and December 31, 2024 were $0.8 million and $3.6 million, respectively. Beginning on September 15, 2025, the 2025 Notes became exchangeable at the holder’s option, without any additional conditions, and remain exchangeable through the second scheduled trading day immediately preceding the maturity date of the 2025 Notes. The Company included its obligations from the 2025 Notes and the associated embedded derivative as current liabilities on the condensed consolidated balance sheet as of September 30, 2025. As of September 30, 2025, LivaNova held $57.5 million in cash designated for the December 2025 repayment of the 2025 Notes principal amount in a LivaNova-controlled depository account, which is included within cash and cash equivalents on the condensed consolidated balance sheet. For additional information regarding the 2025 Notes, refer to LivaNova’s 2024 Form 10-K.

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