Restructuring, strategic transaction and integration expenses were $16.7 million and $16.1 million for the three months ended March 31, 2025 and 2024, respectively.

During the three months ended March 31, 2025 and 2024, restructuring charges were $6.8 million and $5.3 million, respectively, and were primarily related to facility closure costs and severance costs, respectively.

The following table summarizes the activity in our restructuring-related accrual by major type of cost for the three months ended March 31, 2025 (in thousands), which is included in accrued liabilities and other long-term liabilities on the condensed consolidated balance sheets:


	Severance Pay and Benefits		Retention and Facility Closure Costs		Total
Accrued balance, January 1, 2025	$	9,538	$	407	$	9,945

Charges incurred	2,401		4,397		6,798
Payments	(3,482)		(2,905)		(6,387)
Other(1)	(900)		—		(900)
Currency translation	155		14		169
Accrued balance, March 31, 2025	$	7,712	$	1,913	$	9,625

(1) Relates to prior year accrued restructuring charges for estimated severances costs that were reclassed to other accounts during the three months ended March 31, 2025.

We incurred and expensed $9.9 million and $10.8 million in strategic transaction and integration expenses during the three months ended March 31, 2025 and 2024, respectively, which are included in restructuring, strategic transaction and integration expenses in our condensed consolidated statements of operations. The strategic transaction and integration expenses during the three months ended March 31, 2025 and 2024 were primarily related to consulting expenses, employee costs incurred to integrate our Smiths Medical business acquired in 2022, and transaction costs related to the sale of 60% of our IV solutions business in the first quarter of 2025.