v3.26.1
Fair Value Measures and Disclosures (Notes)
 6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Fair Value Disclosures Fair Value Measurements
 
    Fair value is the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. There are three levels of inputs that may be used to measure fair value:

•Level 1: quoted prices in active markets for identical assets or liabilities;
•Level 2: inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; or
•Level 3: unobservable inputs that are supported by little or no market activity and that are significant to the fair values of the assets or liabilities.

Recurring Fair Value Measurements

Foreign Exchange Contracts and Interest Rate Contracts    

    The fair value of our Level 2 foreign exchange contracts is estimated using observable market inputs such as known notional value amounts, spot and forward exchange rates. These inputs relate to liquid, heavily traded currencies with active markets which are available for the full term of the derivative.

The fair value of our Level 2 interest rate swaps is estimated using a pricing model that reflects the terms of the contracts, including the period to maturity, and relies on observable market inputs such as known notional value amounts and USD interest rate curves.

Our assets and liabilities measured at fair value on a recurring basis consisted of the following Level 1, 2 and 3 inputs as defined above (in thousands):
Fair value measurements as of June 30, 2026
Total carrying
value		Quoted prices
in active
markets for
identical
assets (level 1)		Significant
other
observable
inputs (level 2)		Significant
unobservable
inputs (level 3)
Assets:
Foreign exchange contracts:
Prepaid expenses and other current assets$4,775 $— $4,775 $— 
Interest rate contracts:
Prepaid expenses and other current assets4,344 — 4,344 — 
Other assets2,503 — 2,503 — 
Total Assets$11,622 $— $11,622 $— 
Liabilities:
Foreign exchange contracts:
Accrued liabilities$1,017 $— $1,017 $— 
Interest rate contracts:
Accrued liabilities— — — — 
Other long-term liabilities17 — 17 — 
Total Liabilities$1,034 $— $1,034 $— 


Fair value measurements as of December 31, 2025
Total carrying
value		Quoted prices
in active
markets for
identical
assets (level 1)		Significant
other
observable
inputs (level 2)		Significant
unobservable
inputs (level 3)
Assets:
Foreign exchange contracts:
Prepaid expenses and other current assets$1,093 $— $1,093 $— 
Other assets70 — 70 — 
Interest rate contracts:
Prepaid expenses and other current assets3,745 — 3,745 — 
Other assets664 — 664 — 
Total Assets$5,572 $— $5,572 $— 
Liabilities:
Foreign exchange contracts:
Accrued liabilities$479 $— $479 $— 
Other long-term liabilities67 — 67— 
Interest rate contracts:
Accrued liabilities1,508 — 1,508 — 
Other long-term liabilities3,196 — 3,196 — 
Total Liabilities$5,250 $— $5,250 $— 
Nonrecurring Fair Value Measurements
We measure certain items on a nonrecurring basis due to particular circumstances or when specific transactions occur such as a retained investment resulting from a partial sale. On May 1, 2025, we measured our retained equity method investment in Otsuka ICU Medical LLC (see Note 11: Investment Securities) at fair value in connection to the sale of a 60% interest of our IV Solutions business (see Note 4: Disposal of Business). The fair value was estimated using a market-based approach and is classified as a Level 3 fair value measurement.