STERIS plc 10-Q for FY2024 Q3

STERIS plc (STE)

10-Q 2024-02-08 For: 2023-12-31

Added on April 04, 2026

About this 10-Q

STERIS plc filed this 10-Q on February 8, 2024, covering the quarter ended December 31, 2023 (FY2024 Q3).

Headline figures

Quarter ended December 31, 2023, as reported in this filing, compared with the same period a year earlier where the filing states it.

Revenue: $1.4B; up 14.8% from $1.22B a year earlier
Net income: $140.74M; up 13.7% from net income of $123.83M a year earlier
Diluted EPS: $1.42; up 14.5% from $1.24 a year earlier

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Title of each class	Trading symbol(s)	Name of Exchange on Which Registered
Ordinary Shares, $0.001 par value	STE	New York Stock Exchange
2.700% Senior Notes due 2031	STE/31	New York Stock Exchange
3.750% Senior Notes due 2051	STE/51	New York Stock Exchange


		Page
Part I—Financial Information
Item 1.	Financial Statements	3
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	30
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	45
Item 4.	Controls and Procedures	46

Part II—Other Information
Item 1.	Legal Proceedings	47
Item 1A.	Risk Factors	47
Item 2.	Unregistered Sales of Equity Securities, Use or Proceeds, and Issuer Purchases of Equity Securities	48
Item 5.	Other Information	48
Item 6.	Exhibits	49
	Signature	50


	December 31, 2023		March 31, 2023
	(Unaudited)
Assets
Current assets:
Cash and cash equivalents	$	195,585	$	208,357
Accounts receivable (net of allowances of $27,951 and $23,427, respectively)	964,022		928,315
Inventories, net	855,617		695,493
Prepaid expenses and other current assets	203,729		179,277
Total current assets	2,218,953		2,011,442
Property, plant, and equipment, net	1,844,484		1,705,512
Lease right-of-use assets, net	195,413		191,741
Goodwill	4,111,683		3,879,219
Intangibles, net	2,987,287		2,955,780
Other assets	77,335		78,145
Total assets	$	11,435,155	$	10,821,839
Liabilities and equity
Current liabilities:
Accounts payable	$	276,730	$	279,620
Accrued income taxes	24,880		43,804
Accrued payroll and other related liabilities	178,838		125,642
Short-term lease obligations	36,711		34,961
Short-term indebtedness	78,438		60,000
Accrued expenses and other	318,097		317,817
Total current liabilities	913,694		861,844
Long-term indebtedness	3,231,075		3,018,655
Deferred income taxes, net	621,071		617,538
Long-term lease obligations	162,827		160,493
Other liabilities	78,389		76,137
Total liabilities	$	5,007,056	$	4,734,667
Commitments and contingencies (see Note 8)
Ordinary shares, with $0.001 par value; 500,000 shares authorized; 98,808 and 98,629 ordinary shares issued and outstanding, respectively	4,534,259		4,486,375
Retained earnings	2,133,766		1,911,533
Accumulated other comprehensive loss	(252,629)		(320,710)
Total shareholders’ equity	6,415,396		6,077,198
Noncontrolling interests	12,703		9,974
Total equity	6,428,099		6,087,172
Total liabilities and equity	$	11,435,155	$	10,821,839


	Three Months Ended December 31,				Nine Months Ended December 31,
	2023		2022		2023		2022
Revenues:
Product	$	804,756	$	679,042	$	2,280,950	$	1,982,512
Service	590,889		536,952		1,741,597		1,590,490
Total revenues	1,395,645		1,215,994		4,022,547		3,573,002
Cost of revenues:
Product	439,005		374,729		1,223,415		1,058,663
Service	354,047		319,768		1,029,549		942,709
Total cost of revenues	793,052		694,497		2,252,964		2,001,372
Gross profit	602,593		521,497		1,769,583		1,571,630
Operating expenses:
Selling, general, and administrative	360,518		305,141		1,100,227		962,962
Goodwill impairment loss	—		—		—		490,565
Research and development	25,913		25,514		78,459		75,193
Restructuring expenses	6		39		2		127
Total operating expenses	386,437		330,694		1,178,688		1,528,847
Income from operations	216,156		190,803		590,895		42,783
Non-operating expenses, net:
Interest expense	38,947		28,559		108,248		77,356

Interest and miscellaneous (income) expense	(2,080)		1,906		(4,710)		3,200
Total non-operating expenses, net	36,867		30,465		103,538		80,556
Income (loss) before income tax expense	179,289		160,338		487,357		(37,773)
Income tax expense	38,344		37,013		106,276		43,378
Net income (loss)	140,945		123,325		381,081		(81,151)
Less: Net income (loss) attributable to noncontrolling interests	202		(503)		1,465		(956)
Net income (loss) attributable to shareholders	$	140,743	$	123,828	$	379,616	$	(80,195)

Net income (loss) per share attributed to shareholders
Basic	$	1.42	$	1.24	$	3.84	$	(0.80)
Diluted	$	1.42	$	1.24	$	3.82	$	(0.80)
Cash dividends declared per share ordinary outstanding	$	0.52	$	0.47	$	1.51	$	1.37


	Three Months Ended December 31,				Nine Months Ended December 31,
	2023		2022		2023		2022

Net income (loss)	$	140,945	$	123,325	$	381,081	$	(81,151)
Less: Net income (loss) attributable to noncontrolling interests	202		(503)		1,465		(956)
Net income (loss) attributable to shareholders	140,743		123,828		379,616		(80,195)

Other comprehensive income (loss)
Defined benefit plan changes (net of taxes of $17, $8, $52 and $24, respectively)	58		27		175		83
Change in cumulative currency translation adjustment	134,048		233,958		67,906		(154,438)
Total other comprehensive income (loss)	134,106		233,985		68,081		(154,355)
Comprehensive income (loss)	$	274,849	$	357,813	$	447,697	$	(234,550)


☒			QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934


☐			TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______


	Three Months Ended December 31, 2023
	Ordinary Shares			Retained Earnings		Accumulated Other Comprehensive Loss		Noncontrolling Interest		Total Equity
	Number	Amount
Balance at September 30, 2023	98,789	$	4,518,911	$	2,045,897	$	(386,735)	$	11,095	$	6,189,168
Comprehensive income:
Net income	—	—		140,743		—		202		140,945
Other comprehensive income	—	—		—		134,106		—		134,106
Repurchases of ordinary shares	(12)	(731)		(1,497)		—		—		(2,228)
Equity compensation programs and other	31	16,079		—		—		—		16,079
Cash dividends - $0.52 per ordinary share	—	—		(51,377)		—		—		(51,377)
Contributions from noncontrolling interest	—	—		—		—		2,883		2,883
Distributions to noncontrolling interest	—	—		—		—		(1,561)		(1,561)
Other changes in noncontrolling interest	—	—		—		—		84		84
Balance at December 31, 2023	98,808	$	4,534,259	$	2,133,766	$	(252,629)	$	12,703	$	6,428,099


	Nine Months Ended December 31, 2023
	Ordinary Shares			Retained Earnings		Accumulated Other Comprehensive Loss		Noncontrolling Interest		Total Equity
	Number	Amount
Balance at March 31, 2023	98,629	$	4,486,375	$	1,911,533	$	(320,710)	$	9,974	$	6,087,172
Comprehensive income:
Net income	—	—		379,616		—		1,465		381,081
Other comprehensive income	—	—		—		68,081		—		68,081
Repurchases of ordinary shares	(69)	(3,230)		(8,210)		—		—		(11,440)
Equity compensation programs and other	248	51,114		—		—		—		51,114
Cash dividends – $1.51 per ordinary share	—	—		(149,173)		—		—		(149,173)
Contributions from noncontrolling interest	—	—		—		—		2,883		2,883
Distributions to noncontrolling interest	—	—		—		—		(1,561)		(1,561)
Other changes in noncontrolling interest	—	—		—		—		(58)		(58)
Balance at December 31, 2023	98,808	$	4,534,259	$	2,133,766	$	(252,629)	$	12,703	$	6,428,099


	Three Months Ended December 31, 2022
	Ordinary Shares			Retained Earnings		Accumulated Other Comprehensive Loss		Noncontrolling Interest		Total Equity
	Number	Amount
Balance at September 30, 2022	99,868	$	4,705,118	$	1,695,087	$	(598,148)	$	11,390	$	5,813,447
Comprehensive income:
Net income (loss)	—	—		123,828		—		(503)		123,325
Other comprehensive income	—	—		—		233,985		—		233,985
Repurchases of ordinary shares	(493)	(82,804)		(1,226)		—		—		(84,030)
Equity compensation programs and other	25	9,389		—		—		—		9,389
Cash dividends – $0.47 per ordinary share	—	—		(46,917)		—		—		(46,917)

Distributions to noncontrolling interest	—	—		—		—		(794)		(794)
Other changes in noncontrolling interest	—	—		—		—		115		115
Balance at December 31, 2022	99,400	$	4,631,703	$	1,770,772	$	(364,163)	$	10,208	$	6,048,520


	Nine Months Ended December 31, 2022
	Ordinary Shares			Retained Earnings		Accumulated Other Comprehensive Loss		Noncontrolling Interest		Total Equity
	Number	Amount
Balance at March 31, 2022	100,067	$	4,742,920	$	1,999,244	$	(209,808)	$	12,281	$	6,544,637
Comprehensive income:
Net loss	—	—		(80,195)		—		(956)		(81,151)
Other comprehensive loss	—	—		—		(154,355)		—		(154,355)
Repurchases of ordinary shares	(850)	(142,573)		(11,379)		—		—		(153,952)
Equity compensation programs and other	183	31,356		—		—		—		31,356
Cash dividends – $1.37 per ordinary share	—	—		(136,898)		—		—		(136,898)





Distributions to noncontrolling interest	—	—		—		—		(794)		(794)
Other changes in noncontrolling interest	—	—		—		—		(323)		(323)
Balance at December 31, 2022	99,400	$	4,631,703	$	1,770,772	$	(364,163)	$	10,208	$	6,048,520



	September 30, 2023 (As Previously Reported)		Adjustments		December 31, 2023(1)


Inventory	27,006		4,721		31,727
Property, plant, and equipment	6,755		1,109		7,864


Intangible assets	303,598		(598)		303,000
Goodwill	202,399		(5,232)		197,167
Total assets acquired	539,758		—		539,758



Net assets acquired	$	539,758	$	—	$	539,758


	December 31, 2023		March 31, 2023

Raw materials	$	303,691	$	239,081
Work in process	117,882		97,756
Finished goods	492,005		404,238
Reserve for excess and obsolete inventory	(57,961)		(45,582)
Inventories, net	$	855,617	$	695,493


	December 31, 2023		March 31, 2023
Land and land improvements (1)	$	97,381	$	84,313
Buildings and leasehold improvements	756,059		691,933
Machinery and equipment	1,100,273		994,188
Information systems	260,639		247,873
Radioisotope	679,436		637,920
Construction in progress (1)	512,370		478,316
Total property, plant, and equipment	3,406,158		3,134,543
Less: accumulated depreciation and depletion	(1,561,674)		(1,429,031)
Property, plant, and equipment, net	$	1,844,484	$	1,705,512


	December 31, 2023		March 31, 2023

Short-term debt
Term Loan, current portion	$	37,813	$	27,500
Delayed Draw Term Loan, current portion	40,625		32,500

Total short-term debt	$	78,438	$	60,000


Long-term debt
Private Placement Senior Notes	$	755,020	$	750,302
Revolving Credit Facility	569,974		301,672
Deferred financing costs	(18,607)		(21,444)
Term Loan	14,063		45,000
Delayed Draw Term Loan	560,625		593,125
Senior Public Notes	1,350,000		1,350,000
Total long-term debt	$	3,231,075	$	3,018,655
Total debt	$	3,309,513	$	3,078,655


	December 31, 2023		March 31, 2023
Accrued payroll and other related liabilities:
Compensation and related items	$	68,083	$	48,565
Accrued vacation/paid time off	16,798		11,080
Accrued bonuses	59,161		33,605
Accrued employee commissions	31,569		29,257

Other postretirement benefit obligations-current portion	1,121		1,121
Other employee benefit plans obligations-current portion	2,106		2,014
Total accrued payroll and other related liabilities	$	178,838	$	125,642
Accrued expenses and other:
Deferred revenues	$	90,373	$	92,283
Service liabilities	80,620		72,033
Self-insured risk reserves-current portion	12,549		11,325
Accrued dealer commissions	36,386		31,096
Accrued warranty	14,951		13,683
Asset retirement obligation-current portion	535		543
Accrued interest	20,464		9,243
Other	62,219		87,611
Total accrued expenses and other	$	318,097	$	317,817
Other liabilities:
Self-insured risk reserves-long-term portion	$	22,171	$	22,171
Other postretirement benefit obligations-long-term portion	5,778		6,070
Defined benefit pension plans obligations-long-term portion	3,214		2,876
Other employee benefit plans obligations-long-term portion	1,206		1,153
Accrued long-term income taxes	10,129		10,082
Asset retirement obligation-long-term portion	13,182		12,588
Other	22,709		21,197
Total other liabilities	$	78,389	$	76,137


	Three Months Ended December 31,				Nine Months Ended December 31,
	2023		2022		2023		2022
Revenues:
Healthcare	$	916,227	$	769,144	$	2,605,157	$	2,200,483
AST	234,931		222,014		703,083		675,283
Life Sciences	146,566		121,273		411,074		379,248
Dental	97,921		103,563		303,233		317,988
Total revenues	$	1,395,645	$	1,215,994	$	4,022,547	$	3,573,002
Operating income (loss):
Healthcare	$	223,898	$	175,399	$	626,134	$	497,233
AST	105,156		103,539		325,529		323,238
Life Sciences	56,738		45,249		156,863		149,173
Dental	18,292		20,337		64,847		67,992
Corporate	(81,359)		(53,873)		(261,265)		(196,872)
Total operating income	$	322,725	$	290,651	$	912,108	$	840,764
Less: Adjustments
Amortization of acquired intangible assets (1)	$	93,850	$	93,941	$	286,786	$	281,727
Acquisition and integration related charges (2)	5,722		4,817		24,444		18,493
Tax restructuring costs (3)	643		282		652		533
Gain on fair value adjustment of acquisition related contingent consideration (1)	—		—		—		(3,100)
Net (gain) loss on divestiture of businesses (1)	—		(838)		—		3,939
Amortization of inventory and property "step up" to fair value (1)	6,348		1,608		9,329		5,697
Restructuring charges (4)	6		38		2		127
Goodwill impairment loss (5)	—		—		—		490,565
Total income from operations	$	216,156	$	190,803	$	590,895	$	42,783


	Three Months Ended December 31,				Nine Months Ended December 31,
	2023		2022		2023		2022
Healthcare:
Capital equipment	$	266,838	$	227,226	$	759,842	$	618,844
Consumables	329,435		259,810		915,741		757,892
Service	319,954		282,108		929,574		823,747
Total Healthcare Revenues	$	916,227	$	769,144	$	2,605,157	$	2,200,483
AST:
Capital equipment	$	5,241	$	3,679	$	7,869	$	14,783
Service	229,690		218,335		695,214		660,500
Total AST Revenues	$	234,931	$	222,014	$	703,083	$	675,283
Life Sciences:
Capital equipment	$	44,836	$	28,581	$	111,265	$	99,095
Consumables	60,072		55,610		181,179		172,587
Service	41,658		37,082		118,630		107,566
Total Life Sciences Revenues	$	146,566	$	121,273	$	411,074	$	379,248
Dental Revenues	$	97,921	$	103,563	$	303,233	$	317,988
Total Revenues	$	1,395,645	$	1,215,994	$	4,022,547	$	3,573,002


	Three Months Ended December 31,		Nine Months Ended December 31,
Denominator (shares in thousands):	2023	2022	2023	2022
Weighted average shares outstanding—basic	98,802	99,716	98,765	99,922
Dilutive effect of share equivalents(1)	552	450	568	—
Weighted average shares outstanding and share equivalents—diluted	99,354	100,166	99,333	99,922


	Three Months Ended December 31,		Nine Months Ended December 31,
(shares in thousands)	2023	2022	2023	2022
Number of share options	654	797	649	577


	Fiscal 2024		Fiscal 2023
Risk-free interest rate	3.59	%	2.44	%
Expected life of options	6.0 years		5.9 years
Expected dividend yield of stock	1.08	%	0.80	%
Expected volatility of stock	27.92	%	24.49	%


	Number of Options	Weighted Average Exercise Price Per Share		Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at March 31, 2023	1,749,729	$	154.60
Granted	253,946	220.24
Exercised	(53,881)	60.54
Forfeited	(3,415)	199.26

Outstanding at December 31, 2023	1,946,379	$	165.69	6.1 years	$	112,785
Exercisable at December 31, 2023	1,343,419	$	139.95	5.1 years	$	109,367


	Number of Restricted Shares	Number of Restricted Share Units	Weighted Average Grant Date Fair Value
Non-vested at March 31, 2023	450,793	28,542	$	186.60
Granted	173,074	18,344	201.48
Vested	(146,912)	(15,408)	163.81
Forfeited	(13,714)	(1,419)	194.71
Non-vested at December 31, 2023	463,241	30,059	$	199.57


	Warranties
Balance at March 31, 2023	$	13,683
Warranties issued during the period	12,519
Settlements made during the period	(11,251)
Balance at December 31, 2023	$	14,951


	Asset Derivatives				Liability Derivatives
	Fair Value at		Fair Value at		Fair Value at		Fair Value at
Balance sheet location	December 31, 2023		March 31, 2023		December 31, 2023		March 31, 2023
Prepaid & other	$	742	$	378	$	—	$	—
Accrued expenses and other	$	—	$	—	$	1,701	$	2,054


	Location of gain (loss) recognized in income	Amount of gain (loss) recognized in income
		Three Months Ended December 31,				Nine Months Ended December 31,
		2023		2022		2023		2022
Foreign currency forward contracts	Selling, general and administrative	$	(292)	$	952	$	1,226	$	5,581
Commodity swap contracts	Cost of revenues	$	(316)	$	1,189	$	(1,708)	$	(1,994)


					Fair Value Measurements
	Carrying Value				Quoted Prices in Active Markets for Identical Assets				Significant Other Observable Inputs				Significant Unobservable Inputs
					Level 1				Level 2				Level 3
	December 31,		March 31,		December 31,		March 31,		December 31,		March 31,		December 31,		March 31,
Assets:
Cash and cash equivalents	$	195,585	$	208,357	$	195,585	$	208,357	$	—	$	—	$	—	$	—
Forward and swap contracts (1)	742		378		—		—		742		378		—		—
Equity investments(2)	8,099		7,069		8,099		7,069		—		—		—		—
Other investments	2,919		2,066		2,919		2,066		—		—		—		—

Liabilities:
Forward and swap contracts (1)	$	1,701	$	2,054	$	—	$	—	$	1,701	$	2,054	$	—	$	—
Deferred compensation plans (2)	1,082		1,022		1,082		1,022		—		—		—		—
Debt (3)	3,309,513		3,078,655		—		—		3,039,581		2,754,218		—		—
Contingent consideration obligations (4)	10,801		15,678		—		—		—		—		10,801		15,678


	Contingent Consideration
Balance at March 31, 2023	$	15,678
Additions	1,087
Payments	(5,947)

Currency translation adjustments	(17)

Balance at December 31, 2023	$	10,801


	Defined Benefit Plans (1)				Currency Translation (2)				Total Accumulated Other Comprehensive Loss
	Three Months		Nine Months		Three Months		Nine Months		Three Months		Nine Months
Beginning Balance	$	129	$	12	$	(386,864)	$	(320,722)	$	(386,735)	$	(320,710)
Other Comprehensive Income (Loss) before reclassifications	408		1,160		134,048		67,906		134,456		69,066
Amounts reclassified from Accumulated Other Comprehensive Loss	(350)		(985)		—		—		(350)		(985)
Net current-period Other Comprehensive Income (Loss)	58		175		134,048		67,906		134,106		68,081
Balance at December 31, 2023	$	187	$	187	$	(252,816)	$	(252,816)	$	(252,629)	$	(252,629)


	Healthcare Segment		Life Sciences Segment		AST Segment		Dental Segment		Total
Balance at March 31, 2023	$	2,301,273	$	181,812	$	1,396,134	$	—	$	3,879,219
Goodwill acquired	202,399		—		—		—		202,399
Measurement period adjustments to acquired goodwill (1)	(7,805)		—		—		—		(7,805)


Foreign currency translation adjustments	12,244		2,135		23,491		—		37,870
Balance at December 31, 2023	$	2,508,111	$	183,947	$	1,419,625	$	—	$	4,111,683


	Nine Months Ended December 31,
(dollars in thousands)	2023		2022
Net cash provided by operating activities	$	718,467	$	541,148
Purchases of property, plant, equipment, and intangibles, net	(268,829)		(290,520)
Proceeds from the sale of property, plant, equipment, and intangibles	7,375		12,164
Free cash flow	$	457,013	$	262,792


	Three Months Ended December 31,						Change		Percent Change
(dollars in thousands)	2023			2022
Gross profit:
Product	$	365,751		$	304,313		$	61,438	20.2	%
Service	236,842			217,184			19,658		9.1	%
Total gross profit	$	602,593		$	521,497		$	81,096	15.6	%
Gross profit percentage:
Product	45.4		%	44.8		%
Service	40.1		%	40.4		%
Total gross profit percentage	43.2		%	42.9		%


	Three Months Ended December 31, (unaudited)
	As reported, U.S. GAAP				Impact of Acquisitions		Impact of Divestitures		Impact of Foreign Currency Movements		U.S. GAAP Growth		Organic Growth		Constant Currency Organic Growth
	2023		2022		2023		2022		2023		2023		2023		2023
Segment revenues:
Healthcare	$	916,227	$	769,144	$	45,342	$	—	$	6,255	19.1	%	13.2	%	12.4	%
AST	234,931		222,014		—		—		3,977		5.8	%	5.8	%	4.0	%
Life Sciences	146,566		121,273		—		—		1,414		20.9	%	20.9	%	19.7	%
Dental	97,921		103,563		—		—		750		(5.4)	%	(5.4)	%	(6.2)	%
Total	$	1,395,645	$	1,215,994	$	45,342	$	—	$	12,396	14.8	%	11.0	%	10.0	%


	Nine Months Ended December 31, (unaudited)
	As reported, U.S. GAAP				Impact of Acquisitions		Impact of Divestitures		Impact of Foreign Currency Movements		U.S. GAAP Growth		Organic Growth		Constant Currency Organic Growth
	2023		2022		2023		2022		2023		2023		2023		2023
Segment revenues:
Healthcare	$	2,605,157	$	2,200,483	$	74,290	$	—	$	10,835	18.4	%	15.0	%	14.5	%
AST	703,083		675,283		—		—		9,802		4.1	%	4.1	%	2.7	%
Life Sciences	411,074		379,248		—		—		2,955		8.4	%	8.4	%	7.6	%
Dental	303,233		317,988		—		—		1,727		(4.6)	%	(4.6)	%	(5.2)	%
Total	$	4,022,547	$	3,573,002	$	74,290	$	—	$	25,319	12.6	%	10.5	%	9.8	%


Summarized Results of Operations
(in thousands)	Nine Months Ended
	December 31,
	2023

Revenues	$	2,082,875
Gross profit	1,180,276
Operating costs arising from transactions with non-issuers and non-guarantors, net	527,036
Income from operations	611,436
Non-operating income (expense) arising from transactions with subsidiaries that are non-issuers and non-guarantors, net	297,764
Net income	$	241,313


Summarized Balance Sheet Information
( in thousands)
	December 31,		March 31,
	2023		2023
Receivables due from non-issuers and non-guarantor subsidiaries	$	18,914,935	$	17,797,185
Other current assets	705,595		614,233
Total current assets	$	19,620,530	$	18,411,418

Non-current receivables due from non-issuers and non-guarantor subsidiaries	$	1,835,773	$	1,827,125
Goodwill	292,659		96,892
Other non-current assets	640,803		303,223
Total non-current assets	$	2,769,235	$	2,227,240

Payables due to non-issuers and non-guarantor subsidiaries	$	20,986,974	$	19,347,473
Other current liabilities	259,335		255,746
Total current liabilities	$	21,246,309	$	19,603,219

Non-current payables due to non-issuers and non-guarantor subsidiaries	$	722,680	$	684,985
Other non-current liabilities	3,368,548		3,128,853
Total non-current liabilities	$	4,091,228	$	3,813,838


(dollars in thousands)	Total Number of Shares Purchased	Average Price Paid Per Share		Total Number of Shares Purchased as Part of Publicly Announced Plans	Maximum Dollar Value of Shares that May Yet Be Purchased Under the Plans at Period End (in thousands)
October 1-31	—	$	—	—	$	500,000
November 1-30	—	—		—	500,000
December 1-31	—	—		—	500,000
Total	—	$	—	—	$	500,000


Exhibit Number			Exhibit Description

3.1			STERIS plc Amended Memorandum and Articles of Association (filed as Exhibit 3.1 to STERIS plc Form 10-K for the fiscal year ended March 31, 2019 (Commission File No. 001-38848), and incorporated herein by reference).



15.1			Letter Re: Unaudited Interim Financial Information.

22.1			List of Guarantor Subsidiaries with respect to the 2.700% Notes due 2031 and 3.750% Notes due 2051 issued by STERIS Irish Finco Unlimited Company (filed as Exhibit 22.1 to Form 10-K for the fiscal year ended March 31, 2021 (Commission File No. 001-38848), and incorporated by reference).

31.1			Certification of the Principal Executive Officer Pursuant to Exchange Act Rule 13a-14(a)/15d-14(a).

31.2			Certification of the Principal Financial Officer Pursuant to Exchange Act Rule 13a-14(a)/15d-14(a).

32.1			Certification of the Principal Executive Officer and Principal Financial Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

101.SCH			Inline Schema Document.

101.CAL			Inline Calculation Linkbase Document.

101.DEF			Inline Definition Linkbase Document.

101.LAB			Inline Labels Linkbase Document.

101.PRE			Inline Presentation Linkbase Document.

104			Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).


STERIS plc

/s/ KAREN L. BURTON
Karen L. Burton
Vice President, Chief Accounting Officer
February 8, 2024