General and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Schedule of Inventory, Current [Table Text Block]

Inventories consist of the following (in thousands):

	As of December 31,
	2021		2020
Raw materials	$	135,528	$	126,499
Work in process	36,490		33,053
Finished goods	118,217		155,376
Total	$	290,235	$	314,928

Property, Plant and Equipment [Table Text Block]

Property, plant and equipment consists of the following (in thousands): 

	As of December 31,
	2021		2020
Machinery and equipment	$	321,078	$	291,331
Land, building and building improvements	243,377		241,199
Molds	60,463		60,381
Computer equipment and software	102,979		98,311
Furniture and fixtures	7,670		7,767
Instruments placed with customers(1)	97,384		90,383
Construction in progress	72,153		53,724
Total property, plant and equipment, cost	905,104		843,096
Accumulated depreciation	(436,739)		(376,468)
Property, plant and equipment, net	$	468,365	$	466,628

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(1)    Instruments placed with customers consist of drug-delivery and monitoring systems placed with customers under operating leases.

All property, plant and equipment are stated at cost.  We use the straight-line method for depreciating property, plant and equipment over their estimated useful lives.  Estimated useful lives are:

Buildings	15 - 30 years
Building improvements	15 - 30 years
Machinery, equipment and molds	2 - 15 years
Furniture, fixtures and office equipment	2 - 5 years
Computer equipment and software	3 - 5 years
Instruments placed with customers	3 - 10 years

Schedule of Goodwill

The following table presents the changes in the carrying amount of our goodwill for 2021, 2020 and 2019 (in thousands):

	Total
Balance as of January 1, 2019	$	11,195
Goodwill acquired(1)	20,026
Other	24
Balance as of December 31, 2019	$	31,245
Other(2)	1,756
Balance as of December 31, 2020	33,001
Goodwill(3)	10,626
Currency translation	(188)
Balance as of December 31, 2021	$	43,439

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(1)    In 2019, we acquired Pursuit Vascular, Inc. ("Pursuit"), which resulted in $19.1 million of goodwill. We also acquired a small foreign distributor, which resulted in $0.9 million of goodwill.

(2)    In 2020, "Other" relates to a $1.3 million measurement period adjustment to deferred taxes related to the Pursuit acquisition and foreign currency translation.

(3)    In 2021, we acquired a small foreign infusion systems supplier, which resulted in $10.6 million of goodwill.

Schedule of Indefinite-Lived Intangible Assets

Intangible assets, carried at cost less accumulated amortization and amortized on a straight-lined basis, were as follows (in thousands):

	Weighted-Average Amortization Life in Years	December 31, 2021
		Cost		Accumulated Amortization		Net
Patents	10	$	27,429	$	16,764	$	10,665
Customer contracts	12	10,412		6,196		4,216
Non-contractual customer relationships	9	57,316		33,004		24,312
Trademarks	4	425		425		—
Trade name	15	18,260		4,731		13,529
Developed technology	13	152,893		49,406		103,487
Non-compete	3	9,100		2,356		6,744
Total amortized intangible assets		$	275,835	$	112,882	$	162,953
Internally developed software*		$	25,358			$	25,358
Total intangible assets		$	301,193	$	112,882	$	188,311

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* Internally developed software will be amortized when the projects are complete and the assets are ready for their intended use.

	Weighted-Average Amortization Life in Years	December 31, 2020
		Cost		Accumulated Amortization		Net
Patents	10	$	24,797	$	15,056	$	9,741
Customer contracts	12	10,365		5,852		4,513
Non-contractual customer relationships	9	58,061		26,711		31,350
Trademarks	4	425		425		—
Trade name	15	18,270		3,500		14,770
Developed technology	13	152,893		36,927		115,966
Non-compete	3	2,500		972		1,528
Total amortized intangible assets		$	267,311	$	89,443	$	177,868
Internally developed software*		$	19,363			$	19,363
Total intangible assets		$	286,674	$	89,443	$	197,231

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* Internally developed software will be amortized when the projects are complete and the assets are ready for their intended use.

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

As of December 31, 2021, estimated annual amortization for our intangible assets for each of the next five years is approximately (in thousands):

2022	$	25,668
2023	24,191
2024	23,551
2025	16,057
2026	15,324
Thereafter	58,162
Total	$	162,953

Debt Securities, Available-for-sale

Our short-term and long-term investments in available-for-sale securities consist of the following (in thousands):

	As of December 31, 2021
	Amortized Cost		Unrealized Holding Gains (Losses)		Fair Value
Short-term corporate bonds	$	14,420	$	—	$	14,420
Long-term corporate bonds	4,620		—		4,620
Total investment securities	$	19,040	$	—	$	19,040
	As of December 31, 2020
	Amortized Cost		Unrealized Holding Gains (Losses)		Fair Value
Short-term corporate bonds	$	14,687	$	—	$	14,687
Long-term corporate bonds	12,974		—		12,974
Total investment securities	$	27,661	$	—	$	27,661

Equity Method Investments

Our non-marketable equity method investment consists of the following (in thousands):

	As of December 31,
	2021		2020
Equity method investment	$	3,238	$	—

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

The following table presents the calculation of net earnings per common share (“EPS”) — basic and diluted (in thousands, except per share data): 

	Year ended December 31,
	2021		2020		2019
Net income	$	103,135	$	86,870	$	101,035
Weighted-average number of common shares outstanding (basic)	21,206		20,907		20,629
Dilutive securities	575		684		916
Weighted-average common and common equivalent shares outstanding (diluted)	21,781		21,591		21,545
EPS — basic	$	4.86	$	4.16	$	4.90
EPS — diluted	$	4.74	$	4.02	$	4.69