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STERIS plc – ‘10-K’ for 3/31/21 – ‘EX-18.1’

On:  Friday, 5/28/21, at 7:46am ET   ·   For:  3/31/21   ·   Accession #:  1757898-21-17   ·   File #:  1-38848

Previous ‘10-K’:  ‘10-K’ on 5/29/20 for 3/31/20   ·   Next:  ‘10-K’ on 5/31/22 for 3/31/22   ·   Latest:  ‘10-K’ on 5/26/23 for 3/31/23   ·   35 References:   

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  As Of               Filer                 Filing    For·On·As Docs:Size

 5/28/21  STERIS plc                        10-K        3/31/21  116:20M

Annual Report   —   Form 10-K

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   2.12M 
 2: EX-4.5      Instrument Defining the Rights of Security Holders  HTML    176K 
 4: EX-21.1     Subsidiaries List                                   HTML     52K 
 5: EX-22.1     Published Report re: Matters Submitted to a Vote    HTML     29K 
                of Security Holders                                              
 6: EX-23.1     Consent of Expert or Counsel                        HTML     30K 
 7: EX-24.1     Power of Attorney                                   HTML     34K 
 3: EX-18.1     Letter re: a Change in Accounting Principles or     HTML     29K 
                Practices                                                        
 8: EX-31.1     Certification -- §302 - SOA'02                      HTML     33K 
 9: EX-31.2     Certification -- §302 - SOA'02                      HTML     33K 
10: EX-32.1     Certification -- §906 - SOA'02                      HTML     31K 
17: R1          Cover                                               HTML    100K 
18: R2          Consolidated Balance Sheets (Parenthetical)         HTML     40K 
19: R3          Consolidated Balance Sheets                         HTML    148K 
20: R4          Consolidated Statements of Operations               HTML    135K 
21: R5          Consolidated Statements of Comprehensive Income     HTML     74K 
22: R6          Consolidated Statements of Cash Flows               HTML    131K 
23: R7          Consolidated Statements of Shareholders' Equity     HTML    134K 
24: R8          Consolidated Statements of Shareholders' Equity     HTML     31K 
                (Parenthetical)                                                  
25: R9          Nature of Operations and Summary of Significant     HTML    355K 
                Accounting Policies                                              
26: R10         Restructuring (Notes)                               HTML     53K 
27: R11         Goodwill and Intangible Assets                      HTML     79K 
28: R12         Inventories, Net                                    HTML     40K 
29: R13         Property, Plant and Equipment                       HTML     55K 
30: R14         Debt                                                HTML     90K 
31: R15         Additional Consolidated Balance Sheets Information  HTML     62K 
32: R16         Income Tax Expense                                  HTML    142K 
33: R17         Benefit Plans                                       HTML    245K 
34: R18         Contingencies                                       HTML     61K 
35: R19         Business Segment Information                        HTML    146K 
36: R20         Common Shares                                       HTML     45K 
37: R21         Repurchases of Common Shares                        HTML     33K 
38: R22         Share-Based Compensation                            HTML     70K 
39: R23         Financial and Other Guarantees                      HTML     41K 
40: R24         Forward and Swap Contracts                          HTML     49K 
41: R25         Fair Value Measurements                             HTML     88K 
42: R26         Business Acquisitions and Divestitures Business     HTML     78K 
                Acquisitions and Divestitures (Notes)                            
43: R27         Reclassifications out of AOCI (Notes)               HTML     74K 
44: R28         Quarterly Results (Unaudited)                       HTML     97K 
45: R29         COVID-19 Pandemic                                   HTML     32K 
46: R30         Pending Acquisition of Cantel Medical Corp (Notes)  HTML     77K 
47: R31         Schedule II - Valuation and Qualifying Accounts     HTML     86K 
48: R32         Nature of Operations and Summary of Significant     HTML    173K 
                Accounting Policies (Policies)                                   
49: R33         Contingencies Lease Policy (Policies)               HTML     41K 
50: R34         Nature of Operations and Summary of Significant     HTML    333K 
                Accounting Policies (Tables)                                     
51: R35         Restructuring (Tables)                              HTML     53K 
52: R36         Goodwill and Intangible Assets (Tables)             HTML     80K 
53: R37         Inventories, Net (Tables)                           HTML     40K 
54: R38         Property, Plant and Equipment (Tables)              HTML     59K 
55: R39         Debt (Tables)                                       HTML     73K 
56: R40         Additional Consolidated Balance Sheets Information  HTML     62K 
                (Tables)                                                         
57: R41         Income Tax Expense (Tables)                         HTML    139K 
58: R42         Benefit Plans (Tables)                              HTML    248K 
59: R43         Contingencies lease tables (Tables)                 HTML     49K 
60: R44         Business Segment Information (Tables)               HTML    145K 
61: R45         Common Shares (Tables)                              HTML     45K 
62: R46         Share-Based Compensation (Tables)                   HTML     67K 
63: R47         Financial and Other Guarantees (Tables)             HTML     40K 
64: R48         Forward and Swap Contracts (Tables)                 HTML     50K 
65: R49         Fair Value Measurements (Tables)                    HTML     89K 
66: R50         Business Acquisitions and Divestitures Business     HTML     65K 
                Acquisitions and Divestitures (Tables)                           
67: R51         Reclassifications out of AOCI (Tables)              HTML     74K 
68: R52         Quarterly Results (Unaudited) (Tables)              HTML     96K 
69: R53         Nature of Operations and Summary of Siginificant    HTML    184K 
                Accounting Policies (Details)                                    
70: R54         Nature of Operations and Summary of Significant     HTML    176K 
                Accounting Policies - Change in Accounting                       
                Principle (Details)                                              
71: R55         Restructuring (Details)                             HTML     73K 
72: R56         Goodwill and Intangible Assets Narrative (Details)  HTML     50K 
73: R57         Goodwill and Intangible Assets Goodwill             HTML     48K 
                Rollforward (Details)                                            
74: R58         Goodwill and Intangible Assets Other Intangible     HTML     50K 
                Assets (Details)                                                 
75: R59         Goodwill and Intangible Assets Future Amortization  HTML     40K 
                of Intangible Assets (Details)                                   
76: R60         Inventories, Net (Details)                          HTML     40K 
77: R61         Property, Plant and Equipment (Details)             HTML     68K 
78: R62         Debt (Details)                                      HTML    117K 
79: R63         Debt 2017 Senior Notes (Details)                    HTML     79K 
80: R64         Additional Consolidated Balance Sheets Information  HTML     87K 
                (Details)                                                        
81: R65         Income Tax Expense (Details)                        HTML    204K 
82: R66         Benefit Plans (Change in benefit obligations        HTML     81K 
                funded status) (Details)                                         
83: R67         Benefit Plans (Amounts recognized in balance        HTML     43K 
                sheets) (Details)                                                
84: R68         Benefit Plans (Amortize pre-tax amount AOCI)        HTML     35K 
                (Details)                                                        
85: R69         Benefit Plans (Accumulated benefit obligation       HTML     40K 
                exceeding the fair value of plan assets) (Details)               
86: R70         Benefit Plans (Projected benefit obligation         HTML     82K 
                exceeding the fair value of plan assets) (Details)               
87: R71         Benefit Plans (Components of the annual net         HTML     75K 
                periodic benefit cost) (Details)                                 
88: R72         Benefit Plans (Assumptions used in calculating      HTML     50K 
                benefit obligations and net periodic benefit cost)               
                (Details)                                                        
89: R73         Benefit Plans (Significant assumptions used to      HTML     50K 
                determine the net periodic benefit costs)                        
                (Details)                                                        
90: R74         Benefit Plans (Assumed long-term healthcare cost    HTML     35K 
                trend rate) (Details)                                            
91: R75         Benefit Plans (Targeted asset allocation of plan    HTML     35K 
                assets and the actual allocation of plan assets)                 
                (Details)                                                        
92: R76         Benefit Plans (Fair value of our pension benefits   HTML     59K 
                plan assets) (Details)                                           
93: R77         Benefit Plans (Expected payments to be made to      HTML     58K 
                plan participants) (Details)                                     
94: R78         Benefit Plans (Details Textual)                     HTML     44K 
95: R79         Benefit Plans Benefit Plans (Rollforward of Level   HTML     40K 
                3 assets) (Details)                                              
96: R80         Contingencies (Details)                             HTML     76K 
97: R81         Business Segment Information (Details)              HTML    154K 
98: R82         Common Shares (Details)                             HTML     48K 
99: R83         Repurchases of Common Shares (Details)              HTML     55K 
100: R84         Share-Based Compensation (Details)                  HTML    136K  
101: R85         Financial and Other Guarantees (Details)            HTML     34K  
102: R86         Forward and Swap Contracts (Details)                HTML     60K  
103: R87         Fair Value Measurements (Details)                   HTML     89K  
104: R88         Business Acquisitions and Divestitures Business     HTML    133K  
                Acquisitions and Divestitures Narrative (Details)                
105: R89         Business Acquisitions and Divestitures Synergy      HTML     34K  
                Consideration (Details)                                          
106: R90         Business Acquisitions and Divestitures Synergy      HTML     32K  
                Acquisition (Details)                                            
107: R91         Business Acquisitions and Divestitures Business     HTML     95K  
                Acquisition Summary (Details)                                    
108: R92         Reclassifications out of AOCI (Details)             HTML     66K  
109: R93         Accumulated Other Comprehensive Incom (Details)     HTML     33K  
110: R94         Quarterly Results (Unaudited) (Details)             HTML    103K  
111: R95         Pending Acquisition of Cantel Medical Corp          HTML     43K  
                (Details)                                                        
112: R96         Schedule II - Valuation and Qualifying Accounts     HTML     53K  
                (Details)                                                        
114: XML         IDEA XML File -- Filing Summary                      XML    211K  
16: XML         XBRL Instance -- ste-20210331_htm                    XML   6.02M 
113: EXCEL       IDEA Workbook of Financial Reports                  XLSX    197K  
12: EX-101.CAL  XBRL Calculations -- ste-20210331_cal                XML    167K 
13: EX-101.DEF  XBRL Definitions -- ste-20210331_def                 XML   1.43M 
14: EX-101.LAB  XBRL Labels -- ste-20210331_lab                      XML   2.87M 
15: EX-101.PRE  XBRL Presentations -- ste-20210331_pre               XML   1.86M 
11: EX-101.SCH  XBRL Schema -- ste-20210331                          XSD    270K 
115: JSON        XBRL Instance as JSON Data -- MetaLinks              654±   956K  
116: ZIP         XBRL Zipped Folder -- 0001757898-21-000017-xbrl      Zip    668K  


‘EX-18.1’   —   Letter re: a Change in Accounting Principles or Practices


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                    Exhibit 18.1 

May 28, 2021

The Board of Directors of
STERIS plc
70 Sir John Rogerson’s Quay
Dublin 2 Ireland



Ladies and Gentlemen:

Note 1 of the Notes to the consolidated financial statements of STERIS plc and subsidiaries included in its Annual Report on Form 10-K for the year ended March 31, 2021 describes a change in the method of accounting for inventory valuation from the last-in, first-out (LIFO) method to the first-in, first-out (FIFO) method for certain inventories. There are no authoritative criteria for determining a ‘preferable’ inventory method based on the particular circumstances; however, we conclude that such change in the method of accounting is to an acceptable alternative method which, based on your business judgment to make this change and for the stated reasons, is preferable in your circumstances.

     
Very truly yours,
 
 /s/ Ernst & Young LLP
Cleveland, Ohio



Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K’ Filing    Date    Other Filings
Filed on:5/28/21
For Period end:3/31/218-K
 List all Filings 


10 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/08/24  STERIS plc                        10-Q       12/31/23   78:9.1M
11/07/23  STERIS plc                        10-Q        9/30/23   79:9M
 8/08/23  STERIS plc                        10-Q        6/30/23   78:179M
 5/26/23  STERIS plc                        10-K        3/31/23  111:19M
 2/08/23  STERIS plc                        10-Q       12/31/22   76:9.7M
11/09/22  STERIS plc                        10-Q        9/30/22   81:9.9M
 8/08/22  STERIS plc                        10-Q        6/30/22   78:20M
 5/31/22  STERIS plc                        10-K        3/31/22  111:71M
 6/03/21  Cantel Medical LLC                SC TO-I                4:299K Cantel Medical LLC                Donnelley … Solutions/FA
 6/02/21  STERIS plc                        S-8         6/02/21    5:108K                                   Donnelley … Solutions/FA


25 Previous Filings that this Filing References

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 4/01/21  STERIS plc                        8-K:1,2,8,9 3/31/21   16:1.4M                                   Donnelley … Solutions/FA
 3/30/21  STERIS plc                        S-4/A       3/29/21    9:4M                                     Broadridge Fin’l So… Inc
 3/23/21  STERIS plc                        8-K:1,2,9   3/19/21   16:5.1M                                   Donnelley … Solutions/FA
 1/12/21  STERIS plc                        8-K:1,8,9   1/12/21   17:13M                                    Broadridge Fin’l So… Inc
10/06/20  STERIS plc                        8-K:1,7,9  10/02/20   12:912K                                   Donnelley … Solutions/FA
 5/29/20  STERIS plc                        10-K        3/31/20  111:18M
11/07/19  STERIS plc                        10-Q        9/30/19   82:9.9M
 5/30/19  STERIS plc                        10-K        3/31/19  116:20M
 3/28/19  STERIS plc                        8-K:1,2,3,5 3/28/19    6:1.2M                                   Donnelley … Solutions/FA
11/06/18  Steris Ltd.                       10-Q        9/30/18   76:7.9M
 5/30/18  Steris Ltd.                       10-K        3/31/18  107:18M
 6/01/17  Steris Ltd.                       8-K:5,9     5/30/17    2:46K                                    Donnelley … Solutions/FA
 5/31/16  Steris Ltd.                       10-K        3/31/16  118:18M
 2/09/16  Steris Ltd.                       10-Q       12/31/15   84:9.6M
 5/09/14  Steris Corp.                      8-K:2,9     5/09/14    2:454K                                   Donnelley … Solutions/FA
 5/30/13  Steris Corp.                      10-K        3/31/13   99:20M
 2/08/13  Steris Corp.                      10-Q       12/31/12   85:11M
 8/15/12  Steris Corp.                      8-K:2,9     8/15/12    2:426K                                   Donnelley … Solutions/FA
 2/08/12  Steris Corp.                      10-Q       12/31/11   71:9M
 8/09/11  Steris Corp.                      10-Q        6/30/11   71:7.6M
 5/28/10  Steris Corp.                      10-K        3/31/10    8:2.3M                                   Donnelley … Solutions/FA
 2/06/09  Steris Corp.                      10-Q       12/31/08    7:1.1M                                   Donnelley … Solutions/FA
 8/08/08  Steris Corp.                      10-Q        6/30/08    9:680K                                   Donnelley … Solutions/FA
 4/24/08  Steris Corp.                      8-K:5,9     4/23/08    3:80K                                    Donnelley … Solutions/FA
 9/01/06  Steris Corp.                      8-K:1,9     8/29/06    3:274K                                   Donnelley … Solutions/FA
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Filing Submission 0001757898-21-000017   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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