STERIS plc 10-Q for FY2023 Q3

STERIS plc (STE)

10-Q 2023-02-08 For: 2022-12-31

Added on April 04, 2026

About this 10-Q

STERIS plc filed this 10-Q on February 8, 2023, covering the quarter ended December 31, 2022 (FY2023 Q3).

Headline figures

Quarter ended December 31, 2022, as reported in this filing, compared with the same period a year earlier where the filing states it.

Revenue: $1.22B; up 0.6% from $1.21B a year earlier
Net income: $123.83M; down 13.8% from net income of $143.62M a year earlier
Diluted EPS: $1.24; down 12.7% from $1.42 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	29
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 and Use of Proceeds	48
Item 6.	Exhibits	49
	Signature	50


	December 31, 2022		March 31, 2022
	(Unaudited)
Assets
Current assets:
Cash and cash equivalents	$	259,371	$	348,320
Accounts receivable (net of allowances of $25,137 and $24,371 respectively)	822,758		799,041
Inventories, net	694,357		574,999
Prepaid expenses and other current assets	200,140		156,637
Total current assets	1,976,626		1,878,997
Property, plant, and equipment, net	1,671,157		1,552,576
Lease right-of-use assets, net	187,320		188,480
Goodwill	3,853,009		4,404,343
Intangibles, net	3,031,456		3,328,537
Other assets	80,356		70,661
Total assets	$	10,799,924	$	11,423,594
Liabilities and equity
Current liabilities:
Accounts payable	$	242,491	$	225,737
Accrued income taxes	25,226		26,873
Accrued payroll and other related liabilities	130,741		183,721
Short-term lease obligations	34,954		36,472
Short-term indebtedness	60,000		142,875
Accrued expenses and other	303,045		306,544
Total current liabilities	796,457		922,222
Long-term indebtedness	3,001,575		2,945,481
Deferred income taxes, net	724,648		780,619
Long-term lease obligations	155,978		155,056
Other liabilities	72,746		75,579
Total liabilities	$	4,751,404	$	4,878,957
Commitments and contingencies (see Note 8)
Ordinary shares, with $0.001 par value; 500,000 shares authorized; 99,401 and 100,067 ordinary shares issued and outstanding, respectively	4,631,703		4,742,920
Retained earnings	1,770,772		1,999,244
Accumulated other comprehensive loss	(364,163)		(209,808)
Total shareholders’ equity	6,038,312		6,532,356
Noncontrolling interests	10,208		12,281
Total equity	6,048,520		6,544,637
Total liabilities and equity	$	10,799,924	$	11,423,594


	Three Months Ended December 31,				Nine Months Ended December 31,
	2022		2021		2022		2021
Revenues:
Product	$	679,042	$	697,256	$	1,982,512	$	1,871,773
Service	536,952		511,715		1,590,490		1,502,605
Total revenues	1,215,994		1,208,971		3,573,002		3,374,378
Cost of revenues:
Product	374,729		373,793		1,058,663		1,072,683
Service	319,768		297,064		942,709		856,955
Total cost of revenues	694,497		670,857		2,001,372		1,929,638
Gross profit	521,497		538,114		1,571,630		1,444,740
Operating expenses:
Selling, general, and administrative	305,141		310,564		962,962		1,049,116
Goodwill impairment loss	—		—		490,565		—
Research and development	25,514		24,824		75,193		61,847
Restructuring expenses	39		(207)		127		17
Total operating expenses	330,694		335,181		1,528,847		1,110,980
Income from operations	190,803		202,933		42,783		333,760
Non-operating expenses, net:
Interest expense	28,559		22,971		77,356		67,820
Fair value adjustment related to convertible debt, premium liability	—		—		—		27,806
Interest and miscellaneous expense (income)	1,906		(2,447)		3,200		(4,905)
Total non-operating expenses, net	30,465		20,524		80,556		90,721
Income (loss) before income tax expense	160,338		182,409		(37,773)		243,039
Income tax expense	37,013		39,315		43,378		52,222
Net income (loss)	123,325		143,094		(81,151)		190,817
Less: Net (loss) attributable to noncontrolling interests	(503)		(529)		(956)		(810)
Net income (loss) attributable to shareholders	$	123,828	$	143,623	$	(80,195)	$	191,627

Net income (loss) per share attributed to shareholders
Basic	$	1.24	$	1.44	$	(0.80)	$	1.98
Diluted	$	1.24	$	1.42	$	(0.80)	$	1.97
Cash dividends declared per share ordinary outstanding	$	0.47	$	0.43	$	1.37	$	1.26


	Three Months Ended December 31,				Nine Months Ended December 31,
	2022		2021		2022		2021

Net income (loss)	$	123,325	$	143,094	$	(81,151)	$	190,817
Less: Net (loss) attributable to noncontrolling interests	(503)		(529)		(956)		(810)
Net income (loss) attributable to shareholders	123,828		143,623		(80,195)		191,627

Other comprehensive income (loss)
Amortization of pension and postretirement benefit plan costs, (net of taxes of $(8), $174, $(24) and $523, respectively)	27		(507)		83		(1,521)
Change in cumulative currency translation adjustment	233,958		(30,638)		(154,438)		(74,114)
Total other comprehensive income (loss)	233,985		(31,145)		(154,355)		(75,635)
Comprehensive income (loss)	$	357,813	$	112,478	$	(234,550)	$	115,992


☒			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, 2022
	Ordinary Shares			Retained Earnings		Accumulated Other Comprehensive Income (Loss)		Non-controlling 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 Income (Loss)		Non-controlling 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


	Three Months Ended December 31, 2021
	Ordinary Shares			Retained Earnings		Accumulated Other Comprehensive Income (Loss)		Non-controlling Interest		Total Equity
	Number	Amount
Balance at September 30, 2021	99,911	$	4,748,181	$	1,893,196	$	(105,733)	$	9,287	$	6,544,931
Comprehensive income:
Net income (loss)	—	—		143,623		—		(529)		143,094
Other comprehensive (loss)	—	—		—		(31,145)		—		(31,145)
Repurchases of ordinary shares	(95)	1,061		(3,938)		—		—		(2,877)
Equity compensation programs and other	295	8,957		—		—		—		8,957
Cash dividends – $0.43 per ordinary share	—	—		(43,011)		—		—		(43,011)

Contributions from noncontrolling interest	—	—		—		—		3,672		3,672
Other changes in noncontrolling interest	—	—		—		—		48		48
Balance at December 31, 2021	100,111	$	4,758,199	$	1,989,870	$	(136,878)	$	12,478	$	6,623,669


	Nine Months Ended December 31, 2021
	Ordinary Shares			Retained Earnings		Accumulated Other Comprehensive Income (Loss)		Non-controlling Interest		Total Equity
	Number	Amount
Balance at March 31, 2021	85,353	$	2,002,825	$	1,939,408	$	(61,243)	$	10,478	$	3,891,468
Comprehensive income:
Net income (loss)	—	—		191,627		—		(810)		190,817
Other comprehensive (loss)	—	—		—		(75,635)		—		(75,635)
Repurchases of ordinary shares	(225)	(6,581)		(21,047)		—		—		(27,628)
Equity compensation programs and other	686	54,465		—		—		—		54,465
Cash dividends – $1.26 per ordinary share	—	—		(120,118)		—		—		(120,118)
Issuance of shares for acquisition of Cantel Medical LLC ("Cantel")	14,297	2,689,317		—		—		—		2,689,317
Consideration related to equity component of Cantel convertible debt	—	175,555		—		—		—		175,555
Consideration related to Cantel equity compensation programs	—	18,173		—		—		—		18,173
Reclassification to Cantel convertible debt, premium liability	—	(175,555)		—		—		—		(175,555)
Contributions from noncontrolling interest	—	—		—		—		3,672		3,672
Distributions to noncontrolling interest	—	—		—		—		(997)		(997)
Other changes in noncontrolling interest	—	—		—		—		135		135
Balance at December 31, 2021	100,111	$	4,758,199	$	1,989,870	$	(136,878)	$	12,478	$	6,623,669


	March 31, 2022
	(As previously reported)		Adjustments		Final
Cash	$	169,073	$	—	$	169,073
Accounts receivable	172,226		—		172,226
Inventory	249,221		—		249,221
Property, plant, and equipment	267,360		(1,282)		266,078
Lease right-of-use assets, net	59,720		—		59,720
Other assets	72,864		—		72,864
Intangible assets	2,942,000		—		2,942,000
Goodwill	1,522,381		22,088		1,544,469
Total assets acquired	5,454,845		20,806		5,475,651
Convertible debt, par value	168,000		—		168,000
Other current liabilities	247,549		5,595		253,144
Long-term lease obligations	47,856		—		47,856
Deferred income taxes, net	670,685		15,211		685,896
Long-term indebtedness	721,284		—		721,284
Total liabilities assumed	1,855,374		20,806		1,876,180
Net assets acquired	$	3,599,471	$	—	$	3,599,471


	December 31, 2022		March 31, 2022

Raw materials	$	233,313	$	195,035
Work in process	103,898		76,021
Finished goods	399,034		334,880
Reserve for excess and obsolete inventory	(41,888)		(30,937)
Inventories, net	$	694,357	$	574,999


	December 31, 2022		March 31, 2022
Land and land improvements (1)	$	83,262	$	84,015
Buildings and leasehold improvements	674,484		654,851
Machinery and equipment	952,350		903,649
Information systems	234,297		222,620
Radioisotope	621,526		597,641
Construction in progress (1)	489,772		356,013
Total property, plant, and equipment	3,055,691		2,818,789
Less: accumulated depreciation and depletion	(1,384,534)		(1,266,213)
Property, plant, and equipment, net	$	1,671,157	$	1,552,576


	December 31, 2022		March 31, 2022

Short-term debt
Term Loan, current portion	$	27,500	$	27,500
Delayed Draw Term Loan, current portion	32,500		24,375
Private Placement Senior Notes	—		91,000
Total short-term debt	$	60,000	$	142,875


Long-term debt
Private Placement Senior Notes	$	746,118	$	758,726
Revolving Credit Facility	274,658		58,908
Deferred financing costs	(22,326)		(25,278)
Term Loan	51,875		177,500
Delayed Draw Term Loan	601,250		625,625
Senior Public Notes	1,350,000		1,350,000
Total long-term debt	$	3,001,575	$	2,945,481
Total debt	$	3,061,575	$	3,088,356


	December 31, 2022		March 31, 2022
Accrued payroll and other related liabilities:
Compensation and related items	$	65,965	$	71,878
Accrued vacation/paid time off	14,567		13,669
Accrued bonuses	25,345		64,702
Accrued employee commissions	21,515		30,171

Other postretirement benefit obligations-current portion	1,190		1,190
Other employee benefit plans obligations-current portion	2,159		2,111
Total accrued payroll and other related liabilities	$	130,741	$	183,721
Accrued expenses and other:
Deferred revenues	$	100,232	$	110,791
Service liabilities	57,963		51,365
Self-insured risk reserves-current portion	15,878		8,995
Accrued dealer commissions	32,300		31,700
Accrued warranty	13,442		14,108
Asset retirement obligation-current portion	581		1,181
Accrued interest	18,306		10,014
Other	64,343		78,390
Total accrued expenses and other	$	303,045	$	306,544
Other liabilities:
Self-insured risk reserves-long-term portion	$	19,213	$	19,213
Other postretirement benefit obligations-long-term portion	6,807		7,335
Defined benefit pension plans obligations-long-term portion	3,836		1,772
Other employee benefit plans obligations-long-term portion	1,094		1,360
Accrued long-term income taxes	10,068		12,225
Asset retirement obligation-long-term portion	19,691		12,362
Other	12,037		21,312
Total other liabilities	$	72,746	$	75,579


	Three Months Ended December 31,				Nine Months Ended December 31,
	2022		2021		2022		2021
Revenues:
Healthcare	$	769,144	$	759,675	$	2,200,483	$	2,106,626
Applied Sterilization Technologies	222,014		216,298		675,283		630,092
Life Sciences	121,273		127,908		379,248		381,706
Dental	103,563		105,090		317,988		255,954
Total revenues	$	1,215,994	$	1,208,971	$	3,573,002	$	3,374,378
Segment operating income (loss):
Healthcare	$	175,399	$	175,778	$	497,233	$	482,487
Applied Sterilization Technologies	103,539		101,343		323,238		303,059
Life Sciences	45,249		52,032		149,173		158,639
Dental	20,337		23,096		67,992		65,607
Corporate	(53,873)		(62,360)		(196,872)		(219,131)
Total segment operating income	$	290,651	$	289,889	$	840,764	$	790,661
Less: Adjustments
Amortization of acquired intangible assets (1)	$	93,941	$	75,021	$	281,727	$	191,552
Acquisition and integration related charges (2)	4,817		9,298		18,493		167,698
Tax restructuring costs (3)	282		118		533		228
(Gain) on fair value adjustment of acquisition related contingent consideration (1)	—		—		(3,100)		—
Net (gain) loss on divestiture of businesses (1)	(838)		489		3,939		893
Amortization of inventory and property "step up" to fair value (1)	1,608		2,237		5,697		96,513
Restructuring charges (4)	38		(207)		127		17
Goodwill impairment loss (5)	—		—		490,565		—
Total income from operations	$	190,803	$	202,933	$	42,783	$	333,760


	Three Months Ended December 31,				Nine Months Ended December 31,
	2022		2021		2022		2021
Healthcare:
Capital equipment	$	227,226	$	217,214	$	618,844	570,509
Consumables	259,810		273,750		757,892		750,531
Service	282,108		268,711		823,747		785,586
Total Healthcare Revenues	$	769,144	$	759,675	$	2,200,483	$	2,106,626
Applied Sterilization Technologies Service Revenues	$	222,014	$	216,298	$	675,283	$	630,092
Life Sciences:
Capital equipment	$	28,581	$	30,412	$	99,095	$	97,343
Consumables	55,610		61,096		172,587		179,380
Service	37,082		36,400		107,566		104,983
Total Life Sciences Revenues	$	121,273	$	127,908	$	379,248	$	381,706
Dental Revenues	$	103,563	$	105,090	$	317,988	$	255,954
Total Revenues	$	1,215,994	$	1,208,971	$	3,573,002	$	3,374,378


	Three Months Ended December 31,		Nine Months Ended December 31,
Denominator (shares in thousands):	2022	2021	2022	2021
Weighted average shares outstanding—basic	99,716	100,038	99,922	96,679
Dilutive effect of share equivalents(1)	450	788	—	823
Weighted average shares outstanding and share equivalents—diluted	100,166	100,826	99,922	97,502


	Three Months Ended December 31,		Nine Months Ended December 31,
(shares in thousands)	2022	2021	2022	2021
Number of share options	797	271	577	251


	Fiscal 2023		Fiscal 2022
Risk-free interest rate	2.44	%	1.10	%
Expected life of options	5.9 years		5.9 years
Expected dividend yield of stock	0.80	%	0.95	%
Expected volatility of stock	24.49	%	24.27	%


	Number of Options	Weighted Average Exercise Price Per Share		Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at March 31, 2022	1,560,954	$	138.37
Granted	235,435	247.45
Exercised	(25,228)	51.70
Forfeited	(8,928)	205.25

Outstanding at December 31, 2022	1,762,233	$	153.85	6.4 years	$	77,486
Exercisable at December 31, 2022	1,137,168	$	121.60	5.4 years	$	74,465


	Number of Restricted Shares	Number of Restricted Share Units	Weighted Average Grant Date Fair Value
Non-vested at March 31, 2022	485,510	33,677	$	157.37
Granted	126,974	13,030	225.07
Vested	(146,056)	(13,189)	126.98
Forfeited	(15,681)	(2,120)	181.75
Non-vested at December 31, 2022	450,747	31,398	$	186.24


	Warranties
Balance at March 31, 2022	$	14,108
Warranties issued during the period	8,749
Settlements made during the period	(9,415)
Balance at December 31, 2022	$	13,442


	Asset Derivatives				Liability Derivatives
	Fair Value at		Fair Value at		Fair Value at		Fair Value at
Balance sheet location	December 31, 2022		March 31, 2022		December 31, 2022		March 31, 2022
Prepaid & other	$	842	$	2,780	$	—	$	—
Accrued expenses and other	$	—	$	—	$	326	$	198


	Location of gain (loss) recognized in income	Amount of gain (loss) recognized in income
		Three Months Ended December 31,				Nine Months Ended December 31,
		2022		2021		2022		2021
Foreign currency forward contracts	Selling, general and administrative	$	952	$	1,707	$	5,581	$	4,279
Commodity swap contracts	Cost of revenues	$	1,189	$	417	$	(1,994)	$	1,110


					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	$	259,371	$	348,320	$	259,371	$	348,320	$	—	$	—	$	—	$	—
Forward and swap contracts (1)	842		2,780		—		—		842		2,780		—		—
Equity investments(2)	6,820		8,520		6,820		8,520		—		—		—		—
Other investments	2,178		2,272		2,178		2,272		—		—		—		—

Liabilities:
Forward and swap contracts (1)	$	326	$	198	$	—	$	—	$	326	$	198	$	—	$	—
Deferred compensation plans (2)	955		1,240		955		1,240		—		—		—		—
Debt (3)	3,061,575		3,088,356		—		—		2,693,782		2,991,680		—		—
Contingent consideration obligations (4)	14,820		10,550		—		—		—		—		14,820		10,550


	Contingent Consideration
Balance at March 31, 2022	$	10,550
Additions	7,450
Payments	(60)
Reductions	(3,100)
Currency translation adjustments	(20)

Balance at December 31, 2022	$	14,820


	Defined Benefit Plans (1)				Currency Translation (2)				Total Accumulated Other Comprehensive Income (Loss)
	Three Months		Nine Months		Three Months		Nine Months		Three Months		Nine Months
Beginning Balance	$	1,332	$	1,276	$	(599,480)	$	(211,084)	$	(598,148)	$	(209,808)
Other Comprehensive Income (Loss) before reclassifications	138		431		233,958		(154,438)		234,096		(154,007)
Amounts reclassified from Accumulated Other Comprehensive Income (Loss)	(111)		(348)		—		—		(111)		(348)
Net current-period Other Comprehensive (Loss)	27		83		233,958		(154,438)		233,985		(154,355)
Balance at December 31, 2022	$	1,359	$	1,359	$	(365,522)	$	(365,522)	$	(364,163)	$	(364,163)


	Healthcare Segment		Life Sciences Segment		Applied Sterilization Technologies Segment		Dental Segment		Total
Balance at March 31, 2022	$	2,326,830	$	179,288	$	1,432,858	$	465,367	$	4,404,343
Goodwill acquired	10,753		—		—		—		10,753
Measurement period adjustments to acquired goodwill	(21,624)		3,147		—		40,565		22,088
Impairment	—		—		—		(490,565)		(490,565)
Divestiture	(2,358)		—		—		—		(2,358)
Foreign currency translation adjustments	(18,157)		(1,073)		(56,655)		(15,367)		(91,252)
Balance at December 31, 2022	$	2,295,444	$	181,362	$	1,376,203	$	—	$	3,853,009


	Nine Months Ended December 31,
(dollars in thousands)	2022		2021
Net cash provided by operating activities	$	541,148	$	513,080
Purchases of property, plant, equipment, and intangibles, net	(290,520)		(214,491)
Proceeds from the sale of property, plant, equipment, and intangibles	12,164		1,709
Free cash flow	$	262,792	$	300,298


	Three Months Ended December 31,						Change		Percent Change
(dollars in thousands)	2022			2021
Gross profit:
Product	$	304,313		$	323,463		$	(19,150)	(5.9)	%
Service	217,184			214,651			2,533		1.2	%
Total gross profit	$	521,497		$	538,114		$	(16,617)	(3.1)	%
Gross profit percentage:
Product	44.8		%	46.4		%
Service	40.4		%	41.9		%
Total gross profit percentage	42.9		%	44.5		%


Summarized Results of Operations
(in thousands)	Nine Months Ended
	December 31,
	2022

Revenues	$	1,670,114
Gross profit	934,655
Operating costs arising from transactions with non-issuers and non-guarantors, net	324,053
Income from operations	547,497
Non-operating income (expense) arising from transactions with subsidiaries that are non-issuers and non-guarantors, net	482,064
Net income	$	569,760


Summarized Balance Sheet Information
( in thousands)
	December 31,		March 31,
	2022		2022
Receivables due from non-issuers and non-guarantor subsidiaries	$	17,577,904	$	16,033,719
Other current assets	500,713		400,776
Total current assets	$	18,078,617	$	16,434,495

Non-current receivables due from non-issuers and non-guarantor subsidiaries	$	1,887,167	$	2,001,742
Goodwill	96,974		95,688
Other non-current assets	182,811		142,711
Total non-current assets	$	2,166,952	$	2,240,141

Payables due to non-issuers and non-guarantor subsidiaries	$	18,553,750	$	17,053,749
Other current liabilities	252,855		231,043
Total current liabilities	$	18,806,605	$	17,284,792

Non-current payables due to non-issuers and non-guarantor subsidiaries	$	1,089,567	$	1,102,873
Other non-current liabilities	3,110,233		3,134,777
Total non-current liabilities	$	4,199,800	$	4,237,650


	(a) Total Number of Shares Purchased		(b) Average Price Paid Per Share			(c) Total Number of Shares Purchased as Part of Publicly Announced Plans	(d) Maximum Dollar Value of Shares that May Yet Be Purchased Under the Plans at Period End (in thousands)
October 1-31	61,629		$	169.38		61,629	$	238,932
November 1-30	25,000		181.59			25,000	234,392
December 1-31	396,204		186.18			396,204	$	160,626
Total	482,833	(1)	183.80		(1)	482,833	160,626


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, Controller and Chief Accounting Officer
February 8, 2023



Registration Number						Description

333-230557						Form S-8 Registration Statement of STERIS plc pertaining to the STERIS Corporation 401(k) Plan

333-230558						Form S-8 Registration Statement of STERIS plc pertaining to the STERIS plc 2006 Long-Term Equity Incentive Plan (As Assumed, Amended and Restated Effective March 28, 2019)

333-254608						Form S-3 Registration Statement of STERIS plc, STERIS Corporation, STERIS Ltd, and STERIS Irish FinCo Unlimited Co pertaining to the registration of debt securities, guarantees of debt securities, ordinary shares, preferred shares, warrants, and units

333-256700						Form S-8 Registration Statement of STERIS plc pertaining to the Cantel Medical Corp. 2020 Equity Incentive Plan (As assumed and amended effective June 2, 2021) and the Cantel Medical Corp. 2016 Equity Incentive Plan (As assumed and amended effective June 2, 2021)


Date:			February 8, 2023

/s/ DANIEL A. CARESTIO
Daniel A. Carestio President and Chief Executive Officer