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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2025
Income Tax Disclosure [Abstract] |
Schedule of Components of and Provision for Income Taxes | The following table presents the domestic and foreign components of (loss) income before income tax and income tax expense (benefit) (in thousands):
|  | 2025
(Loss) income before income tax: |  |
UK domestic |  | $ | 40,823 |
Foreign |  | (261,604) |
|  | $ | (220,781) |
Income tax expense (benefit): |  |
Current: |  |
UK domestic (national) |  | $ | 2,142 |
Foreign |  | 19,042 |
|  | 21,184 |
Deferred: |  |
UK domestic (national) |  | $ | 5,089 |
Foreign |  | (4,634) |
|  | 455 |
|  | $ | 21,639 |
The following table presents the U.S. and non-U.S. components of income (loss) before income tax and LivaNova’s income tax expense (benefit) (in thousands):
|  | 2024 |  | 2023
Income (loss) before income tax: |  |  |  |
UK and non-U.S. |  | $ | 86,886 |  |  | $ | 60,799 |
U.S. |  | 1,424 |  |  | (142,025) |
|  | $ | 88,310 |  |  | $ | (81,226) |
Income tax expense (benefit): |  |  |  |
Current: |  |  |  |
UK and non-U.S. |  | $ | 13,851 |  |  | $ | 10,954 |
U.S. |  | 4,412 |  |  | 4,598 |
|  | 18,263 |  |  | 15,552 |
Deferred: |  |  |  |
UK and non-U.S. |  | 5,987 |  |  | (114,428) |
U.S. |  | 808 |  |  | — |
|  | 6,795 |  |  | (114,428) |
|  | $ | 25,058 |  |  | $ | (98,876) |
Schedule of Effective Income Tax Rate Reconciliation | The following tables present a reconciliation of the statutory income tax rate to LivaNova’s effective income tax rate expressed as a percentage of income (loss) before income tax (in thousands, except for percentages):
|  | 2025
UK domestic statutory tax rate |  | $ | (55,195) |  |  | 25.00 | %
Foreign tax effect |  |  |  |
Italy |  |  |  |
SNIA Environmental Liability |  | 89,825 |  |  | (40.69) | %
Interest limitations |  | 3,125 |  |  | (1.42) | %
Other |  | 1,718 |  |  | (0.78) | %
U.S. |  |  |  |
Changes in valuation allowance |  | (26,036) |  |  | 11.79 | %
Foreign tax credit |  | 14,310 |  |  | (6.48) | %
Foreign tax rate differential |  | (2,922) |  |  | 1.32 | %
Other |  | 922 |  |  | (0.42) | %
Brazil |  |  |  |
Changes in valuation allowance |  | (3,709) |  |  | 1.68 | %
Other |  | 870 |  |  | (0.39) | %
Other foreign |  | (1,251) |  |  | 0.57 | %
Nontaxable or nondeductible items |  | (1,966) |  |  | 0.89 | %
Changes in valuation allowance |  | (1,584) |  |  | 0.72 | %
Changes in unrecognized tax benefits |  | (537) |  |  | 0.24 | %
Other items |  |  |  |
Compensation related |  | 3,539 |  |  | (1.60) | %
Other |  | 530 |  |  | (0.24) | %
Effective tax rate |  | $ | 21,639 |  |  | (9.80) | %
|  | 2024 |  | 2023
Statutory tax rate at UK Rate |  | 25.0 | % |  | 23.5 | %
Interest |  | 9.5 |  |  | — |
Deferred tax valuation allowance |  | (7.7) |  |  | 100.5 |
Research and development tax credits |  | (4.1) |  |  | 0.3 |
Subsidiary investments and impairments |  | 1.9 |  |  | (3.1) |
Foreign tax withholding and credits |  | 1.2 |  |  | — |
Foreign tax rate differential |  | 1.1 |  |  | 5.2 |
U.S. state and local tax expense, net of federal benefit |  | 0.9 |  |  | (3.5) |
Reserve for uncertain tax positions |  | 0.7 |  |  | — |
Disallowable professional fees |  | 0.6 |  |  | (2.6) |
Compensation related items |  | (0.4) |  |  | 1.4 |
Effect of changes in tax rate |  | — |  |  | 1.2 |
Other, net |  | (0.3) |  |  | (1.2) |
Effective tax rate |  | 28.4 | % |  | 121.7 | %
Schedule of Cash Flow, Supplemental Disclosures | The following table presents the domestic and foreign components of cash paid for income taxes, net (in thousands):
|  | 2025
UK domestic (national) |  | $ | 4,387 |
Foreign |  | 24,981 |
U.S. (federal $3,941, state $2,223) |  | 6,164 |
Germany |  | 4,657 |
Italy |  | 3,262 |
Belgium |  | 1,584 |
China |  | 1,508 |
Other |  | 7,806 |
|  | $ | 29,368 |
The following tables present supplemental information to the consolidated statements of cash flows (in thousands):
|  | December 31,
|  | 2025 |  | 2024 |  | 2023
Cash and cash equivalents |  | $ | 635,552 |  |  | $ | 428,858 |  |  | $ | 266,504 |
Restricted cash (1) |  | — |  |  | 294,698 |  |  | 311,368 |
Cash, cash equivalents, and restricted cash |  | $ | 635,552 |  |  | $ | 723,556 |  |  | $ | 577,872 |
(1)Restricted cash represents funds held as collateral for the SNIA Litigation Guarantee. For additional information, refer to “Note 2. Basis of Presentation, Use of Accounting Estimates, and Significant Accounting Policies” and “Note 11. Commitments and Contingencies.”
|  | 2025 |  | 2024 |  | 2023
Cash paid for interest |  | $ | 31,068 |  |  | $ | 38,888 |  |  | $ | 36,910 |
Cash paid (received) for income taxes, net |  | 29,368 |  |  | 15,912 |  |  | (1,620) |
Noncash investing and financing transaction - asset obtained in exchange for finance lease obligation |  | 4,859 |  |  | — |  |  | — |
Schedule of Significant Components of Deferred Tax Assets and Liabilities | The following table presents the significant components of LivaNova’s deferred tax assets and liabilities (in thousands):
|  | December 31,
|  | 2025 |  | 2024
Deferred tax assets: |  |  |  |
Net operating loss carryforwards |  | $ | 115,511 |  |  | $ | 114,678 |
Interest expense carryforward |  | 84,759 |  |  | 93,072 |
Accruals and reserves |  | 34,295 |  |  | 31,284 |
Capitalized/Deferred R&D |  | 17,411 |  |  | 30,819 |
Tax credit carryforwards |  | 10,960 |  |  | 27,801 |
Deferred compensation |  | 15,918 |  |  | 15,428 |
Inventories |  | 7,702 |  |  | 10,698 |
Other |  | 1,904 |  |  | 1,012 |
Gross deferred tax assets |  | 288,460 |  |  | 324,792 |
Valuation allowance |  | (127,594) |  |  | (158,823) |
Net deferred tax assets |  | 160,866 |  |  | 165,969 |
Deferred tax liabilities: |  |  |  |
Property, equipment, and intangible assets |  | (57,479) |  |  | (58,350) |
Other |  | (1,994) |  |  | (6,679) |
Gross deferred tax liabilities: |  | (59,473) |  |  | (65,029) |
Net deferred tax assets |  | $ | 101,393 |  |  | $ | 100,940 |
Net deferred tax assets and liabilities, as reported on the consolidated balance sheets as: |  |  |  |
Net deferred tax assets |  | $ | 110,983 |  |  | $ | 111,855 |
Net deferred tax liabilities |  | (9,590) |  |  | (10,915) |
Net deferred tax assets |  | $ | 101,393 |  |  | $ | 100,940 |
Schedule of Reconciliation of Deferred Tax Asset Valuations | The following table presents a reconciliation of the beginning and ending balances of LivaNova’s deferred tax asset valuation allowances (in thousands):
|  | 2025 |  | 2024 |  | 2023
Balance at beginning of year |  | $ | 158,823 |  |  | $ | 182,464 |  |  | $ | 264,754 |
Additions |  | 89 |  |  | 99 |  |  | 38,278 |
Deductions |  | (31,318) |  |  | (23,740) |  |  | (120,568) |
Balance at end of year |  | $ | 127,594 |  |  | $ | 158,823 |  |  | $ | 182,464 |
Summary of Tax Credit Carryforwards | The following table presents NOL and tax credit carryforwards as of December 31, 2025, which can be used to reduce LivaNova’s income tax payable in future years (in thousands):
Region |  | Gross Amount |  | Tax Benefit |  | Amount with No Expiration |  | Amount with Expiration |  | Carryforward Period
UK NOL |  | $ | 369,432 |  |  | $ | 92,358 |  |  | $ | 92,358 |  |  | $ | — |  |  | Unlimited
U.S. State NOL |  | 307,195 |  |  | 14,495 |  |  | 648 |  |  | 13,847 |  |  | 2026 | - | 2045
U.S. Federal NOL |  | 15,363 |  |  | 3,226 |  |  | — |  |  | 3,226 |  |  | 2028 | - | 2034
Other regions NOL |  | 18,716 |  |  | 5,432 |  |  | 5,353 |  |  | 79 |  |  | 2030 | - | 2040
U.S. State research & development tax credits |  | — |  |  | 7,473 |  |  | 1,565 |  |  | 5,908 |  |  | 2030 | - | 2044
U.S. tax credits |  | — |  |  | 2,322 |  |  | — |  |  | 2,322 |  |  | 2026 | - | 2044
Other non-U.S. tax credits |  | — |  |  | 1,164 |  |  | 208 |  |  | 956 |  |  | 2026 | - | 2034
|  | $ | 710,706 |  |  | $ | 126,470 |  |  | $ | 100,132 |  |  | $ | 26,338 |  |  |  |  |
Schedule of Unrecognized Tax Benefits Roll Forward | The following table presents a reconciliation of LivaNova’s total gross unrecognized tax benefit (in thousands):
|  | 2025 |  | 2024 |  | 2023
Gross Balance at beginning of year |  | $ | 15,221 |  |  | $ | 5,406 |  |  | $ | 1,640 |
Tax positions related to prior years for settlement with tax authorities |  | (3,488) |  |  | (143) |  |  | 5,406 |
Additions for tax positions related to current year |  | 819 |  |  | 915 |  |  | — |
Impact of foreign currency exchange rates |  | 685 |  |  | (417) |  |  | 58 |
Additions for tax positions related to prior years |  | 143 |  |  | 9,460 |  |  | — |
Tax positions related to prior years for lapses of statute of limitations |  | — |  |  | — |  |  | (1,698) |
Gross Balance at end of year |  | $ | 13,380 |  |  | $ | 15,221 |  |  | $ | 5,406 |
Schedule of Gross Unrecognized Tax Benefit | The following table presents the components of LivaNova’s total gross unrecognized tax benefit (in thousands):
|  | December 31,
|  | 2025 |  | 2024 |  |
Recorded as liability |  | $ | 3,164 |  |  | $ | 1,073 |  |  |
Reduction to deferred tax assets - impacting effective tax rate |  | — |  |  | 4,786 |  |  |
Reduction to deferred tax assets with valuation allowance |  | 10,216 |  |  | 9,362 |  |  |
|  | $ | 13,380 |  |  | $ | 15,221 |  |  |
Schedule of Income Tax Examinations by Jurisdiction | The major jurisdictions where LivaNova is subject to income tax examinations as of December 31, 2025 were as follows:
Jurisdiction |  | Earliest Year Open |
Italy |  | 2020 |
Germany |  | 2020 |
Canada |  | 2020 |
England and Wales |  | 2021 |
U.S. - federal and state |  | 2022 |

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