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OTHER LONG-TERM LIABILITIES | 6 Months Ended
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Jun. 30, 2024
Other Liabilities Disclosure [Abstract] |
OTHER LONG-TERM LIABILITIES | OTHER LONG-TERM LIABILITIES The Company's other long-term liabilities at June 30, 2024 and December 31, 2023 were as follows:
(in millions) | June 30, 2024 |  |  | December 31, 2023
Contingent consideration | $ | — |  |  |  | $ | 2.3 |
Escrow liability | 7.5 |  |  |  | 7.5 |
Legal settlements | 24.0 |  |  |  | 24.0 |
Other | 3.9 |  |  |  | 7.5 |
Reclassification to liabilities held for sale | (0.8) |  |  |  | — |
Total other long-term liabilities | $ | 34.6 |  |  |  | $ | 41.3 |
On October 23, 2023 (the "Effective Date"), the Company and Ravgen, Inc. ("Ravgen") entered into a settlement agreement pursuant to which the parties agreed to settle a pending lawsuit. Subject to the terms of the settlement agreement, the Company agreed to pay Ravgen a contingent payment of $21.25 million payable in five annual installments, with (1) the first installment of $5.0 million payable on the later of (a) 30 days after notification in writing by Ravgen of the successful conclusion in favor of Ravgen of all of Ravgen's litigations and patent reexaminations pending as of the Effective Date and (b) January 1, 2026 (the "Contingent Payment Date"); (2) the second installment of $5.0 million on the first anniversary of the Contingent Payment Date; (3) the third installment of $5.0 million on the second anniversary of the Contingent Payment Date; (4) the fourth installment of $5.0 million on the third anniversary of the Contingent Payment Date; and (5) $1.25 million on the fourth anniversary of the Contingent Payment Date. Additionally, the Company agreed to pay Ravgen a minimum of $12.75 million in three installment payments of which $7.75 million is outstanding as of June 30, 2024. The remaining payments will be made in two installments: (1) $5.0 million on or before October 31, 2024 and (2) $2.75 million on or before October 31, 2025. The Company has accrued $5.0 million in Accrued Liabilities and $24.0 million in Other long-term liabilities for these payments in the Company's Condensed Consolidated Balance Sheet as of June 30, 2024.

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