Sotera Health (SHC) 10-Q 4 Aug 22 2022 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2022	Jul. 27, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	001-39729
Entity Registrant Name	SOTERA HEALTH COMPANY
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-3531161
Entity Address, Address Line One	9100 South Hills Blvd
Entity Address, Address Line Two	Suite 300
Entity Address, City or Town	Broadview Heights
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	44147
City Area Code	440
Local Phone Number	262-1410
Title of 12(b) Security	Common Stock, $0.01 par value per share
Trading Symbol	SHC
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		282,902,367
Entity Central Index Key	0001822479
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 139,564	$ 106,917
Restricted cash short-term	1,054	7
Accounts receivable, net of allowance for uncollectible accounts of $1,816 and $1,287, respectively	119,852	108,183
Inventories, net	39,652	54,288
Prepaid expenses and other current assets	81,173	71,923
Income taxes receivable	17,386	4,643
Total current assets	398,681	345,961
Property, plant, and equipment, net	699,571	650,797
Operating lease assets	29,853	39,946
Deferred income taxes	5,425	5,885
Investment in unconsolidated affiliate	0	9,405
Post-retirement assets	8,788	5,478
Other assets	38,308	12,866
Other intangible assets, net	543,057	598,844
Goodwill	1,116,002	1,120,320
Total assets	2,839,685	2,789,502
Current liabilities:
Accounts payable	65,271	72,868
Accrued liabilities	52,658	61,861
Deferred revenues	6,863	8,669
Current portion of finance lease obligations	1,615	1,160
Current portion of operating lease obligations	8,132	9,289
Current portion of asset retirement obligations	606	619
Income taxes payable	6,876	6,695
Total current liabilities	142,021	161,161
Long-term debt	1,745,548	1,743,534
Finance lease obligations, less current portion	57,140	40,877
Operating lease obligations, less current portion	24,546	33,017
Noncurrent asset retirement obligations	42,688	41,833
Deferred lease income	20,146	20,745
Post-retirement obligations	11,198	11,464
Noncurrent liabilities	15,668	16,274
Deferred income taxes	144,730	134,501
Total liabilities	2,203,685	2,203,406
See Commitments and contingencies note
Equity:
Common stock, with $0.01 par value, 1,200,000 shares authorized; 286,037 shares issued at June 30, 2022 and December 31, 2021, respectively.	2,860	2,860
Preferred stock, with $0.01 par value, 120,000 authorized; no shares issued at June 30, 2022 and December 31, 2021, respectively	0	0
Treasury stock, at cost (3,135 and 3,052 shares at June 30, 2022 and December 31, 2021, respectively)	(32,654)	(33,545)
Additional paid-in capital	1,181,995	1,172,593
Retained deficit	(411,187)	(472,246)
Accumulated other comprehensive loss	(105,014)	(83,566)
Total equity attributable to Sotera Health Company	636,000	586,096
Noncontrolling interests	0	0
Total equity	636,000	586,096
Total liabilities and equity	$ 2,839,685	$ 2,789,502

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Allowance for uncollectible accounts	$ 1,816	$ 1,287
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,200,000,000	1,200,000,000
Common stock, shares issued (in shares)	286,037,000	286,037,000
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	120,000,000	120,000,000
Preferred stock, shares issued (in shares)	0	0
Treasury stock (in shares)	3,135,000	3,052,000

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenues:
Total net revenues	$ 266,639	$ 251,917	$ 503,393	$ 464,065
Cost of revenues:
Total cost of revenues	116,243	108,156	224,122	204,932
Gross profit	150,396	143,761	279,271	259,133
Operating expenses:
Selling, general and administrative expenses	63,132	49,828	122,674	102,293
Amortization of intangible assets	15,769	15,661	31,610	32,204
Total operating expenses	78,901	65,489	154,284	134,497
Operating income	71,495	78,272	124,987	124,636
Interest expense, net	14,044	19,163	24,448	40,445
Impairment of investment in unconsolidated affiliate	9,613	0	9,613	0
Loss on extinguishment of debt	0	0	0	14,312
Foreign exchange (gain) loss	(755)	76	33	654
Other expense (income), net	485	(2,764)	(2,482)	(6,654)
Income before income taxes	48,108	61,797	93,375	75,879
Provision for income taxes	17,690	19,182	32,316	22,199
Net income	30,418	42,615	61,059	53,680
Less: Net income attributable to noncontrolling interests	0	16	0	239
Net income attributable to Sotera Health Company	30,418	42,599	61,059	53,441
Other comprehensive income (loss) net of tax:
Pension and post-retirement benefits (net of taxes of $179, $(142), $87, and $(226), respectively)	532	(421)	258	(670)
Interest rate derivatives (net of taxes of $1,241, $0, $3,350 and $0, respectively)	3,178	0	9,357	0
Foreign currency translation	(46,038)	20,425	(31,063)	17,339
Comprehensive income (loss)	(11,910)	62,619	39,611	70,349
Less: comprehensive income attributable to noncontrolling interests	0	326	0	534
Comprehensive income (loss) attributable to Sotera Health Company	$ (11,910)	$ 62,293	$ 39,611	$ 69,815
Earnings per share:
Basic (in dollars per share)	$ 0.11	$ 0.15	$ 0.22	$ 0.19
Diluted (in dollars per share)	$ 0.11	$ 0.15	$ 0.22	$ 0.19
Weighted average number of shares outstanding:
Basic (in shares)	279,990	279,078	279,910	278,953
Diluted (in shares)	280,171	279,214	280,038	279,078
Service
Revenues:
Total net revenues	$ 221,529	$ 208,710	$ 427,747	$ 397,408
Cost of revenues:
Total cost of revenues	98,407	91,391	192,983	176,427
Product
Revenues:
Total net revenues	45,110	43,207	75,646	66,657
Cost of revenues:
Total cost of revenues	$ 17,836	$ 16,765	$ 31,139	$ 28,505

Consolidated Statements of Op_2

Consolidated Statements of Operations and Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Statement [Abstract]
Pension and post-retirement benefits, tax	$ 179	$ (142)	$ 87	$ (226)
Interest rate swaps, tax	$ 1,241	$ 0	$ 3,350	$ 0

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Operating activities:
Net income	$ 61,059	$ 53,680
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	31,611	31,062
Amortization of intangible assets	41,378	44,060
Impairment of investment in unconsolidated affiliate	9,613	0
Loss on extinguishment of debt	0	14,312
Deferred income taxes	10,416	3,504
Share-based compensation expense	10,339	6,942
Accretion of asset retirement obligations	1,118	1,153
Unrealized foreign exchange losses	1,274	1,097
Unrealized gains on derivatives not designated as hedging instruments	(8,029)	(1,614)
Amortization of debt issuance costs	2,836	3,245
Other	(4,043)	(4,241)
Changes in operating assets and liabilities:
Accounts receivable	(13,921)	(25,754)
Inventories	14,012	(770)
Other current assets	(6,683)	983
Accounts payable	(9,993)	15,080
Accrued liabilities	(11,869)	(4,375)
Income taxes payable / receivable	(15,968)	(3,998)
Other liabilities	(468)	(95)
Other long-term assets	(4,426)	(15)
Net cash provided by operating activities	108,256	134,256
Investing activities:
Purchases of property, plant and equipment	(71,642)	(44,789)
Purchase of mandatorily redeemable noncontrolling interest in Nelson Laboratories Fairfield, Inc.	0	(12,425)
Purchase of BioScience Laboratories, LLC, net of cash acquired	0	(13,760)
Adjustment to purchase of Regulatory Compliance Associates Inc.	450	0
Net cash used in investing activities	(71,192)	(70,974)
Financing activities:
Purchase of noncontrolling interests in China subsidiaries	0	(7,720)
Payments of debt issuance costs	(27)	(3,661)
Other financing activities	(1,056)	(709)
Net cash used in financing activities	(1,083)	(12,090)
Effect of exchange rate changes on cash and cash equivalents	(2,287)	2,578
Net increase in cash and cash equivalents, including restricted cash	33,694	53,770
Cash and cash equivalents, including restricted cash, at beginning of period	106,924	102,454
Cash and cash equivalents, including restricted cash, at end of period	140,618	156,224
Supplemental disclosures of cash flow information:
Cash paid during the period for interest	42,057	36,615
Cash paid during the period for income taxes, net of tax refunds received	37,340	22,785
Purchases of property, plant and equipment included in accounts payable	$ 17,923	$ 9,670

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Treasury Stock	Additional Paid-In Capital	Retained Earnings / (Accumulated Deficit)	Accumulated Other Comprehensive (Loss) Income	Noncontrolling Interests
Beginning balance (in shares) at Dec. 31, 2020		283,248
Beginning balance at Dec. 31, 2020	$ 454,574	$ 2,860	$ (34,000)	$ 1,166,412	$ (589,128)	$ (93,842)	$ 2,272
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Acquisition of noncontrolling interests	(8,578)			(5,772)			(2,806)
Issuance of shares (in shares)		47
Issuance of shares	1,080			1,080
Share-based compensation plans (in shares)		(378)
Share-based compensation plans	5,846			5,846
Comprehensive income (loss):
Pension and post-retirement plan adjustments, net of tax	(670)					(670)
Foreign currency translation	17,339					17,044	295
Interest rate derivatives	0
Net income	53,680				53,441		239
Ending balance (in shares) at Jun. 30, 2021		282,917
Ending balance at Jun. 30, 2021	523,271	$ 2,860	(34,000)	1,167,566	(535,687)	(77,468)	0
Beginning balance (in shares) at Mar. 31, 2021		282,900
Beginning balance at Mar. 31, 2021	465,744	$ 2,860	(34,000)	1,169,852	(578,286)	(97,162)	2,480
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Acquisition of noncontrolling interests	(8,578)			(5,772)			(2,806)
Issuance of shares (in shares)		47
Issuance of shares	1,080			1,080
Share-based compensation plans (in shares)		(30)
Share-based compensation plans	2,406			2,406
Comprehensive income (loss):
Pension and post-retirement plan adjustments, net of tax	(421)					(421)
Foreign currency translation	20,425					20,115	310
Interest rate derivatives	0
Net income	42,615				42,599		16
Ending balance (in shares) at Jun. 30, 2021		282,917
Ending balance at Jun. 30, 2021	523,271	$ 2,860	(34,000)	1,167,566	(535,687)	(77,468)	0
Beginning balance (in shares) at Dec. 31, 2021		282,985
Beginning balance at Dec. 31, 2021	586,096	$ 2,860	(33,545)	1,172,593	(472,246)	(83,566)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation plans (in shares)		(83)
Share-based compensation plans	10,293		891	9,402
Comprehensive income (loss):
Pension and post-retirement plan adjustments, net of tax	258					258
Foreign currency translation	(31,063)					(31,063)
Interest rate derivatives	9,357					9,357
Net income	61,059				61,059
Ending balance (in shares) at Jun. 30, 2022		282,902
Ending balance at Jun. 30, 2022	636,000	$ 2,860	(32,654)	1,181,995	(411,187)	(105,014)	0
Beginning balance (in shares) at Mar. 31, 2022		282,930
Beginning balance at Mar. 31, 2022	642,130	$ 2,860	(33,536)	1,177,097	(441,605)	(62,686)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation plans (in shares)		(28)
Share-based compensation plans	5,780		882	4,898
Comprehensive income (loss):
Pension and post-retirement plan adjustments, net of tax	532					532
Foreign currency translation	(46,038)					(46,038)
Interest rate derivatives	3,178					3,178
Net income	30,418				30,418
Ending balance (in shares) at Jun. 30, 2022		282,902
Ending balance at Jun. 30, 2022	$ 636,000	$ 2,860	$ (32,654)	$ 1,181,995	$ (411,187)	$ (105,014)	$ 0

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation Principles of Consolidation – Sotera Health Company (also referred to herein as the “Company,” “we,” “our,” “us” or “its”), is a leading global provider of mission-critical end-to-end sterilization solutions, lab testing and advisory services for the healthcare industry with operations primarily in the Americas, Europe and Asia. We operate and report in three segments, Sterigenics, Nordion and Nelson Labs. We describe our reportable segments in Note 18, “Segment Information”. All significant intercompany balances and transactions have been eliminated in consolidation. Noncontrolling interests represented the noncontrolling stockholders’ proportionate share of the total equity in the Company’s consolidated subsidiaries. In the second quarter of 2021, we purchased the outstanding noncontrolling interests of 15% and 33% of our two China subsidiaries. Refer to Note 4, “Acquisitions” for additional details. Prior to our acquisition of the noncontrolling interests in our two subsidiaries in China, we consolidated the results of operations of these subsidiaries with our results of operations and reflected the noncontrolling interest on our Consolidated Statements of Operations and Comprehensive Income (Loss) as “Net income attributable to noncontrolling interests.” On March 11, 2021, we purchased the 15% noncontrolling interest that remained from the August 2018 acquisition of Nelson Laboratories Fairfield, Inc. (“Nelson Labs Fairfield”). As the purchase of this noncontrolling interest was mandatorily redeemable, no earnings were allocated to this noncontrolling interest. See Note 4, “Acquisitions” for additional details. In July 2020, we acquired a 60% equity ownership interest in Auralux Enterprises, Ltd. (“Auralux”), a joint venture to construct an E-beam facility in Alberta, Canada in connection with our acquisition of Iotron Industries Canada, Inc. (“Iotron”). We determined this to be an investment in a variable interest entity (“VIE”). The investment was not consolidated as the Company concluded that we are not the primary beneficiary of the VIE. The Company accounts for the joint venture using the equity method. The investment is reflected within “Investment in unconsolidated affiliates” on the Consolidated Balance Sheets. During the three months ended June 30, 2022, we identified certain events and circumstances that indicated a decline in value of our investment in Auralux that was other-than-temporary. Consequently, as of June 30, 2022, we wrote down the investment in Auralux to its fair value of $0, resulting in an impairment charge of approximately $9.6 million. Use of Estimates – In preparing our consolidated financial statements in conformity with U.S. Generally Accepted Accounting Principles (“GAAP”), we make estimates and assumptions that affect the amounts reported and the accompanying notes. We regularly evaluate the estimates and assumptions used and revise them as new information becomes available. Actual results may vary from those estimates. Interim Financial Statements – The accompanying consolidated financial statements include the assets, liabilities, operating results, and cash flows of the Company and its wholly owned subsidiaries. These financial statements are prepared in accordance with U.S. GAAP for interim financial information, the instructions to the Quarterly Report on Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. These unaudited interim financial statements should be read in conjunction with the Company's annual consolidated financial statements and accompanying notes on Form 10-K for the year ended December 31, 2021.

Recent Accounting Standards

Recent Accounting Standards	6 Months Ended
	Jun. 30, 2022
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Standards	Recent Accounting Standards Adoption of Accounting Standard Updates Effective January 1, 2022, we adopted Accounting Standards Update (“ASU”) 2016-13, Financial Instruments – Credit Losses (“ASU 2016-13”): Measurement of Credit Losses on Financial Instruments, and the subsequently issued additional guidance that modified ASU 2016-13 which was originally issued by the Financial Accounting Standards Board (“FASB”) in June 2016. The standard requires an entity to change its accounting approach in determining impairment of certain financial instruments, including trade receivables, from an “incurred loss” to a “current expected credit loss” model. The adoption of this standard did not have a material impact on our consolidated financial statements and disclosures. Effective January 1, 2022, we adopted ASU 2019-12 - Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes which was issued by the FASB in December 2019. The standard simplifies the accounting for income taxes and makes a number of changes meant to add or clarify guidance on accounting for income taxes. The adoption of this standard did not have a material impact on our consolidated financial statements and disclosures. ASUs Issued But Not Yet Adopted In October 2021, the FASB issued ASU 2021-08 - Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (“ASU 2021-08”). The amendments in ASU 2021-08 require that an acquiring entity recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contract with Customers (“ASC Topic 606”). At the acquisition date, an acquirer should account for the related revenue contracts in accordance with ASC Topic 606 as if it had originated the contracts. For public business entities, these amendments are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. We are currently assessing the effect that ASU 2021-08 will have on our financial position, results of operations, and disclosures.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition The following table shows disaggregated net revenues from contracts with external customers by timing of revenue and by segment for the three and six months ended June 30, 2022 and 2021: (thousands of U.S. dollars) Three Months Ended June 30, 2022 Sterigenics Nordion Nelson Labs Consolidated Point in time $ 157,792 $ 46,386 $ — $ 204,178 Over time — 4,092 58,369 62,461 Total $ 157,792 $ 50,478 $ 58,369 $ 266,639 (thousands of U.S. dollars) Three Months Ended June 30, 2021 Sterigenics Nordion Nelson Labs Consolidated Point in time $ 145,182 $ 47,753 $ — $ 192,935 Over time — 1,372 57,610 58,982 Total $ 145,182 $ 49,125 $ 57,610 $ 251,917 (thousands of U.S. dollars) Six Months Ended June 30, 2022 Sterigenics Nordion Nelson Labs Consolidated Point in time $ 307,254 $ 79,671 $ — $ 386,925 Over time — 4,809 111,659 116,468 Total $ 307,254 $ 84,480 $ 111,659 $ 503,393 (thousands of U.S. dollars) Six Months Ended June 30, 2021 Sterigenics Nordion Nelson Labs Consolidated Point in time $ 276,333 $ 73,671 $ — $ 350,004 Over time — 1,372 112,689 114,061 Total $ 276,333 $ 75,043 $ 112,689 $ 464,065 Contract Balances As of June 30, 2022, and December 31, 2021, contract assets included in “Prepaid expenses and other current assets” on the Consolidated Balance Sheets totaled approximately $21.7 million and $15.6 million, respectively, resulting from revenue recognized over time in excess of the amount billed to the customer.

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Acquisitions Acquisition of Regulatory Compliance Associates Inc. On November 4, 2021, we acquired Regulatory Compliance Associates Inc. (“RCA”) for approximately $30.6 million, net of $0.6 million of cash acquired. RCA is an industry leader in providing life sciences consulting focused on quality, regulatory, and technical advisory services for the pharmaceutical, medical device and combination device industries. Headquartered in Pleasant Prairie, Wisconsin, RCA will expand and further strengthen the technical consulting and expert advisory capabilities of our Nelson Labs segment. The purchase price of RCA was allocated to the underlying assets acquired and liabilities assumed based upon management's estimated fair values at the date of acquisition. Changes to the allocation of the purchase price may occur as these measurements are completed. As of June 30, 2022, approximately $25.2 million of goodwill was recorded related to the RCA acquisition, representing the excess of the purchase price over preliminary estimated fair values of all the assets acquired and liabilities assumed. Based on our most recent estimates, we also recorded $6.4 million of finite-lived intangible assets, primarily related to customer relationships. The purchase price allocation will be finalized within a measurement period not to exceed one year from closing. We funded this acquisition using available cash. The acquisition price and the results of operations for this acquired entity are not material in relation to our consolidated financial statements. Acquisition of Noncontrolling Interests in China Subsidiaries On May 18, 2021, we acquired the remaining 15% and 33% noncontrolling interests associated with our two subsidiaries located in China. As a result, both entities are now 100% owned by the Company. The purchase price of the remaining equity interests was approximately $8.6 million, net of the cancellation of an $0.8 million demand note. We paid 90% of the cash consideration on the acquisition date. The remaining amounts were partially settled in post-closing payments in the third quarter of 2021; $0.2 million of the post-closing payment remain outstanding as of June 30, 2022 subject to the terms of the equity transfer agreements. As a result of the transactions, we continue to consolidate both of these subsidiaries, however, as of May 18, 2021, we no longer record noncontrolling interests in the consolidated financial statements as these subsidiaries are fully owned by the Company. The purchases were accounted for as equity transactions. As a result of these transactions, noncontrolling interests were reduced by $2.8 million reflecting the carrying value of the interest with $5.8 million of the difference charged to additional paid-in capital. Acquisition of Mandatorily Redeemable Noncontrolling Interest - Nelson Labs Fairfield On March 11, 2021, we completed the acquisition of the remaining 15% ownership of Nelson Labs Fairfield for $12.4 million, resulting in a gain of $1.2 million included in “Other expense (income), net” in the Consolidated Statements of Operations and Comprehensive Income (Loss) relative to the $13.6 million previously accrued. Pursuant to the terms of the acquisition, we initially acquired 85% of the equity interests of Nelson Labs Fairfield in August 2018 and were obligated to acquire the remaining 15% noncontrolling interest within three years from the date of the acquisition. Acquisition of BioScience Laboratories, LLC On March 8, 2021, we acquired BioScience Laboratories, LLC (“BioScience Labs”) for approximately $13.5 million, net of $0.2 million of cash acquired plus the contemporaneous repayment of BioScience Lab's outstanding debt of $1.9 million. BioScience Labs is a provider of outsourced topical antimicrobial product testing in the pharmaceutical, medical device, and consumer products industries with one location in Bozeman, Montana. BioScience Labs is included within the Nelson Labs segment.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2022
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consisted primarily of the following: (thousands of U.S. dollars) June 30, 2022 December 31, 2021 Raw materials and supplies $ 33,329 $ 41,514 Work-in-process 484 3,919 Finished goods 5,961 8,979 39,774 54,412 Reserve for excess and obsolete inventory (122) (124) Inventories, net $ 39,652 $ 54,288

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets	6 Months Ended
	Jun. 30, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid Expenses and Other Current Assets	Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consisted primarily of the following: (thousands of U.S. dollars) June 30, 2022 December 31, 2021 Prepaid taxes $ 27,972 $ 24,937 Prepaid business insurance 5,070 10,707 Prepaid rent 1,153 920 Customer contract assets 21,746 15,565 Insurance and indemnification receivables 4,245 3,144 Current deposits 647 623 Prepaid maintenance contracts 388 279 Value added tax receivable 1,128 2,512 Prepaid software licensing 2,444 2,055 Stock supplies 3,420 3,374 Embedded derivatives 1,389 496 Other 11,571 7,311 Prepaid expenses and other current assets $ 81,173 $ 71,923

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Changes to goodwill during the six months ended June 30, 2022 were as follows: (thousands of U.S. dollars) Sterigenics Nordion Nelson Labs Total Goodwill at December 31, 2021 $ 660,743 $ 288,905 $ 170,672 $ 1,120,320 RCA acquisition measurement period adjustments — — 4,601 4,601 Changes due to foreign currency exchange rates (1,857) (4,307) (2,755) (8,919) Goodwill at June 30, 2022 $ 658,886 $ 284,598 $ 172,518 $ 1,116,002 Other intangible assets consisted of the following: (thousands of U.S. dollars) Gross Carrying Amount Accumulated Amortization As of June 30, 2022 Finite-lived intangible assets Customer relationships $ 652,538 $ 391,452 Proprietary technology 87,177 47,793 Trade names 2,555 452 Land-use rights 9,255 1,620 Sealed source and supply agreements 214,744 91,341 Other 5,679 2,673 Total finite-lived intangible assets 971,948 535,331 Indefinite-lived intangible assets Regulatory licenses and other (a) 80,878 — Trade names / trademarks 25,562 — Total indefinite-lived intangible assets 106,440 — Total $ 1,078,388 $ 535,331 As of December 31, 2021 Gross Carrying Amount Accumulated Amortization Finite-lived intangible assets Customer relationships $ 668,628 $ 365,935 Proprietary technology 88,826 44,866 Trade names 145 116 Land-use rights 9,744 1,586 Sealed source and supply agreements 241,611 109,838 Other 6,454 2,166 Total finite-lived intangible assets 1,015,408 524,507 Indefinite-lived intangible assets Regulatory licenses and other (a) 82,110 — Trade names / trademarks 25,833 — Total indefinite-lived intangible assets 107,943 — Total $ 1,123,351 $ 524,507 (a) Includes certain transportation certifications, a class 1B nuclear license and other intangibles related to obtaining such licensure. These assets are considered indefinite-lived as the decision for renewal by the Canadian Nuclear Safety Commission is highly based on a licensee’s previous assessments, reported incidents, and annual compliance and inspection results. New applications for license can take a significant amount of time and cost; whereas an existing licensee with a historical record of compliance and current operating conditions more than likely ensures renewal for another 10 year license period as Nordion has demonstrated over its 75 years of history. Amounts include the impact of foreign currency translation. Amortization expense for other intangible assets was $21.2 million ($5.4 million is included in “Cost of revenues” and $15.8 million in “Selling, general and administrative expenses”) and $41.4 million ($9.8 million is included in “Cost of revenues” and $31.6 million in “Selling, general and administrative expenses”) in the Consolidated Statements of Operations and Comprehensive Income (Loss) for the three and six months ended June 30, 2022, respectively. Amortization expense for other intangible assets was $21.8 million ($6.1 million is included in “Cost of revenues” and $15.7 million in “Selling, general and administrative expenses”) and $44.1 million ($11.9 million is included in “Cost of revenues” and $32.2 million in “Selling, general and administrative expenses”) in the Consolidated Statements of Operations and Comprehensive Income (Loss) for the three and six months ended June 30, 2021, respectively. The estimated aggregate amortization expense for finite-lived intangible assets for each of the next five years and thereafter is as follows: (thousands of U.S. dollars) For the remainder of 2022 $ 40,551 2023 81,166 2024 80,389 2025 43,028 2026 22,788 Thereafter 168,695 Total $ 436,617 The weighted-average remaining useful life of the finite-lived intangible assets was approximately 8.8 years as of June 30, 2022.

Accrued Liabilities

Accrued Liabilities	6 Months Ended
	Jun. 30, 2022
Payables and Accruals [Abstract]
Accrued Liabilities	Accrued Liabilities Accrued liabilities consisted of the following: (thousands of U.S. dollars) June 30, 2022 December 31, 2021 Accrued employee compensation $ 27,500 $ 33,334 Legal reserves 3,119 3,259 Accrued interest expense 782 10,755 Embedded derivatives 2,322 — Professional fees 7,972 4,314 Accrued utilities 1,671 1,797 Insurance accrual 1,781 2,068 Accrued taxes 3,291 2,209 Other 4,220 4,125 Accrued liabilities $ 52,658 $ 61,861

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Long-term debt consisted of the following: (thousands of U.S. dollars) June 30, 2022 December 31, 2021 Term loan, due 2026 $ 1,763,100 $ 1,763,100 Other long-term debt 450 450 Total long-term debt 1,763,550 1,763,550 Less unamortized debt issuance costs and debt discounts (18,002) (20,016) Total long-term debt, less debt issuance costs and debt discounts $ 1,745,548 $ 1,743,534 Debt Facilities Senior Secured Credit Facilities On December 13, 2019, Sotera Health Holdings, LLC (“SHH”), our wholly owned subsidiary, entered into senior secured first lien credit facilities (the “Senior Secured Credit Facilities”), consisting of both a prepayable senior secured first lien term loan (the “Term Loan”) and a senior secured first lien revolving credit facility (the “Revolving Credit Facility”) pursuant to a first lien credit agreement (the “Credit Agreement”). The Revolving Credit Facility and Term Loan mature on June 13, 2026 and December 13, 2026, respectively. The total borrowing capacity under the Revolving Credit Facility is $347.5 million. The Senior Secured Credit Facilities also provide SHH the right at any time and under certain conditions to request incremental term loans or incremental revolving credit commitments based on a formula defined in the Senior Secured Credit Facilities. As of June 30, 2022 and December 31, 2021, total borrowings under the Term Loan were $1,763.1 million, respectively, and there were no borrowings outstanding on the Revolving Credit Facility. The weighted average interest rate on borrowings under the Term Loan for the three months ended June 30, 2022 and June 30, 2021 was 3.53% and 3.25%, respectively, and 3.39% and 3.64% for the six months ended June 30, 2022 and June 30, 2021, respectively. On January 20, 2021, we closed on an amendment repricing our Term Loan. The interest rate spread over the London Interbank Offered Rate (“LIBOR”) on the facility was reduced from 450 basis points to 275 basis points, and the facility’s LIBOR floor was reduced from 100 basis points to 50 basis points. The changes resulted in an effective reduction in current interest rates of 225 basis points. In connection with this amendment, we wrote off $11.3 million of unamortized debt issuance and discount costs and incurred an additional $2.9 million of expense related to debt issuance costs attributable to the refinancing. These costs were recorded to “Loss on extinguishment of debt” in our Consolidated Statements of Operations and Comprehensive Income (Loss). On March 26, 2021, we amended the Revolving Credit Facility, to (i) decrease the Applicable Rate (as defined in the Credit Agreement) related to any Revolving Loans (as defined in the Credit Agreement) from a rate per annum that ranged from an alternative base rate (“ABR”) plus 2.50% to ABR plus 3.00% depending on SHH’s Senior Secured First Lien Net Leverage Ratio to ABR plus 1.75%; and in the case of Eurodollar Loans (as defined in the Credit Agreement) from a rate per annum which ranged from the Adjusted LIBOR plus 3.50% to the Adjusted LIBOR plus 4.00% depending on SHH’s Senior Secured First Lien Net Leverage Ratio (as defined in the Credit Agreement), to the Adjusted LIBOR (as defined in the Credit Agreement) plus 2.75%, and (ii) extend the maturity date of the Revolving Facility from December 13, 2024 to June 13, 2026. The other material terms of the Credit Agreement remain unchanged and the amendment does not change the capacity of our Revolving Credit Facility. No unamortized debt issuance costs associated with the Revolving Credit Facility were written off and direct fees and costs incurred in connection with the amendment were immaterial. As of June 30, 2022 and December 31, 2021, capitalized debt issuance costs totaled $2.4 million and $2.7 million, respectively, and debt discounts totaled $15.6 million and $17.3 million, respectively, related to the Senior Secured Credit Facilities. Such costs are recorded as a reduction of debt on our Consolidated Balance Sheets and amortized as a component of interest expense over the term of the debt agreement. The Senior Secured Credit Facilities contain additional covenants that, among other things, restrict, subject to certain exceptions, our ability and the ability of our restricted subsidiaries to engage in certain activities, such as incur indebtedness or permit to exist any lien on any property or asset now owned or hereafter acquired, as specified in the Senior Secured Credit Facilities. The Senior Secured Credit Facilities also contain certain customary affirmative covenants and events of default, including upon a change of control. As of June 30, 2022, we were in compliance with all the Senior Secured Credit Facilities covenants. All of SHH’s obligations under the Senior Secured Credit Facilities are unconditionally guaranteed by the Company and each existing and subsequently acquired or organized direct or indirect wholly-owned domestic restricted subsidiary of the Company, with customary exceptions including, among other things, where providing such guarantees is not permitted by law, regulation or contract or would result in material adverse tax consequences. All obligations under the Senior Secured Credit Facilities, and the guarantees of such obligations, are secured by substantially all assets of the borrower and guarantors, subject to permitted liens and other exceptions and exclusions, as outlined in the Senior Secured Credit Facilities. Outstanding letters of credit are collateralized by encumbrances against the Revolving Credit Facility and the collateral pledged thereunder, or by cash placed on deposit with the issuing bank. As of June 30, 2022, the Company had $70.1 million of letters of credit issued against the Revolving Credit Facility, resulting in total availability under the Revolving Credit Facility of $277.4 million. Term Loan Interest Rate Risk Management The Company utilizes interest rate derivatives to reduce the variability of cash flows in the interest payments associated with the Term Loan due to changes in LIBOR (or its successor). For additional information on the derivative instruments described above, refer to Note 17, “Financial Instruments and Financial Risk”, “Derivatives Instruments.” First Lien Notes On July 31, 2020, SHH issued $100.0 million aggregate principal amount of senior secured first lien notes due 2026 (the “First Lien Notes”), which were scheduled to mature on December 13, 2026. On August 27, 2021 SHH redeemed in full the $100.0 million aggregate principal amount of the First Lien Notes. In connection with this redemption, the Company paid a $3.0 million early redemption premium, in accordance with the terms of the First Lien Notes Indenture, and wrote off $3.4 million of debt issuance and discount costs. The Company recognized these expenses within “Loss on extinguishment of debt” in our Consolidated Statements of Operations and Comprehensive Income (Loss) for the year ended December 31, 2021. Prior to the redemption, the First Lien Notes bore interest at a rate equal to LIBOR subject to a 1.00% floor plus 6.00% per annum. Interest was payable on a quarterly basis with no principal due until maturity. The weighted average interest rate on the First Lien Notes during 2021 up to the August 27, 2021 redemption date was 7.00%. Aggregate Maturities Aggregate maturities of the Company’s long-term debt, excluding debt discounts, as of June 30, 2022, are as follows: (thousands of U.S. dollars) 2022 $ — 2023 450 2024 — 2025 — 2026 1,763,100 Thereafter — Total $ 1,763,550

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income tax expense is provided on an interim basis based upon our estimate of the annual effective income tax rate. In determining the estimated annual effective income tax rate, we analyze various factors, including projections of our annual earnings and the taxing jurisdictions where the earnings will occur, the impact of state and local taxes, our ability to utilize tax credits and net operating loss carryforwards and available tax planning alternatives. Our effective tax rates were 36.8 % and 34.6% for the three and six months ended June 30, 2022, respectively, compared to 31.0% and 29.3% for the three and six months ended June 30, 2021, respectively. Income tax expense for the three months ended June 30, 2022 differed from the statutory rate primarily due to a net increase in the valuation allowance, the impact of the foreign rate differential, and global intangible low-tax income (“GILTI”). The increase in the valuation allowance was attributable to the limitation on the deductibility of interest expense and the impairment of the investment in Auralux. Provision for income tax expense for the three months ended June 30, 2021 was offset by a discrete item, which reversed the valuation allowance on deferred tax assets related to certain asset retirement obligations.

Employee Benefits

Employee Benefits	6 Months Ended
	Jun. 30, 2022
Postemployment Benefits [Abstract]
Employee Benefits	Employee Benefits The Company sponsors various post-employment benefit plans including, in certain countries outside the U.S., defined benefit and defined contribution pension plans, retirement compensation arrangements, and plans that provide extended health care coverage to retired employees, the majority of which relate to Nordion. Defined benefit pension plan The interest cost, expected return on plan assets and amortization of net actuarial loss are recorded in “Other expense (income), net” and the service cost component is included in the same financial statement line item as the applicable employee’s wages in the Consolidated Statements of Operations and Comprehensive Income (Loss). The components of net periodic pension cost for the defined benefit plan for the three and six months ended June 30, 2022 and 2021 were as follows: Three Months Ended June 30, Six Months Ended June 30, (thousands of U.S. dollars) 2022 2021 2022 2021 Service cost $ 247 $ 307 $ 496 $ 605 Interest cost 1,889 1,662 3,792 3,275 Expected return on plan assets (3,676) (3,665) (7,380) (7,222) Amortization of net actuarial loss — 275 — 542 Net periodic benefit $ (1,540) $ (1,421) $ (3,092) $ (2,800) Other benefit plans Other benefit plans include a supplemental retirement arrangement, a retirement and termination allowance, and post-retirement benefit plans, which include contributory health and dental care benefits and contributory life insurance coverage. All but one, non-pension post-employment benefit plans are unfunded. The components of net periodic pension cost for the other benefit plans for the three and six months ended June 30, 2022 and 2021 were as follows: Three Months Ended June 30, Six Months Ended June 30, (thousands of U.S. dollars) 2022 2021 2022 2021 Service cost $ 4 $ 7 $ 8 $ 14 Interest cost 65 61 130 120 Amortization of net actuarial (gain) loss (2) 9 (4) 17 Net periodic benefit cost $ 67 $ 77 $ 134 $ 151 We currently expect funding requirements of approximately $3.1 million in each of the next five years to fund the regulatory solvency deficit, as defined by Canadian federal regulation, which require solvency testing on defined benefit pension plans.

Related Parties

Related Parties	6 Months Ended
	Jun. 30, 2022
Related Party Transactions [Abstract]
Related Parties	Related PartiesWe do business with a number of companies affiliated with Warburg Pincus and GTCR, which we refer to collectively as the “Sponsors”. All transactions with these companies have been conducted in the ordinary course of our business and are not material to our operations.

Other Comprehensive Income (Los

Other Comprehensive Income (Loss)	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Other Comprehensive Income (Loss)	Other Comprehensive Income (Loss) Amounts in accumulated other comprehensive income (loss) are presented net of the related tax. Foreign currency translation is not adjusted for income taxes. Changes in our accumulated other comprehensive income (loss) balances, net of applicable tax, were as follows: (thousands of U.S. dollars) Defined Benefit Plans Foreign Currency Translation Interest Rate Derivatives Total Beginning balance – April 1, 2022 $ (17,855) $ (51,414) $ 6,583 $ (62,686) Other comprehensive income (loss) before reclassifications 534 (46,038) 3,178 (42,326) Amounts reclassified from accumulated other comprehensive income (loss) (2) (a) — — (2) Net current-period other comprehensive income (loss) 532 (46,038) 3,178 (42,328) Ending balance – June 30, 2022 $ (17,323) $ (97,452) $ 9,761 $ (105,014) Beginning balance – January 1, 2022 $ (17,581) $ (66,389) $ 404 (83,566) Other comprehensive income (loss) before reclassifications 262 (31,063) 9,357 (21,444) Amounts reclassified from accumulated other comprehensive income (loss) (4) (a) — — (4) Net current-period other comprehensive income (loss) 258 (31,063) 9,357 (21,448) Ending balance – June 30, 2022 $ (17,323) $ (97,452) $ 9,761 $ (105,014) (thousands of U.S. dollars) Defined Benefit Plans Foreign Currency Translation Interest Rate Derivatives Total Beginning balance – April 1, 2021 $ (44,392) $ (52,770) $ — $ (97,162) Other comprehensive income (loss) before reclassifications (705) 20,115 — 19,410 Amounts reclassified from accumulated other comprehensive income (loss) 284 (a) — — 284 Net current-period other comprehensive income (loss) (421) 20,115 — 19,694 Ending balance – June 30, 2021 $ (44,813) $ (32,655) $ — $ (77,468) Beginning balance – January 1, 2021 $ (44,143) $ (49,699) $ — $ (93,842) Other comprehensive income (loss) before reclassifications (1,229) 17,044 — 15,815 Amounts reclassified from accumulated other comprehensive income (loss) 559 (a) — — 559 Net current-period other comprehensive income (loss) (670) 17,044 — 16,374 Ending balance – June 30, 2021 $ (44,813) $ (32,655) $ — $ (77,468) (a) For defined benefit pension plans, amounts reclassified from accumulated other comprehensive income (loss) are recorded to “Other expense (income), net” within the Consolidated Statements of Operations and Comprehensive Income (Loss).

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation Pre-IPO Awards Restricted stock distributed in respect of pre-IPO Class B-1 time vesting units vests on a daily basis pro rata over a five-year vesting period (20% per year) beginning on the original vesting commencement date of the corresponding Class B-1 time vesting units, subject to the grantee’s continued services through each vesting date. Upon the occurrence of a change in control of the Company, all then outstanding unvested shares of our common stock distributed in respect of Class B-1 Units will become vested as of the date of consummation of such change in control, subject to the grantee’s continued services through the consummation of the change in control. Restricted stock distributed in respect of pre-IPO Class B-2 Units (which were considered performance vesting units) are scheduled to vest only upon satisfaction of certain thresholds. These units generally vest as of the first date on which (i) our Sponsors have received actual cash proceeds in an amount equal to or in excess of at least two and one-half times their invested capital in Sotera Health Topco Parent, L.P. (of which the Company was a direct wholly owned subsidiary prior to the IPO) and (ii) the Sponsors’ internal rate of return exceeds twenty percent, subject to such grantee’s continued services through such date. In the event of a change in control of the Company, any outstanding shares of our common stock distributed in respect of Class B-2 Units that remain unvested immediately following the consummation of such a change in control of the Company shall be immediately canceled and forfeited without compensation. Stock based compensation expense attributed to the pre-IPO Class B-2 awards was recorded in the fourth quarter of 2020 as the related performance conditions were considered probable of achievement and the implied service conditions were met. As of June 30, 2022, these awards remain unvested. We recognized $0.5 million and $0.7 million of share-based compensation expense related to the pre-IPO Class B-1 awards for the three months ended June 30, 2022 and 2021, respectively, and $1.1 million and $1.3 million for the six months ended June 30, 2022 and 2021, respectively. A summary of the activity for the six months ended June 30, 2022 related to the restricted stock awards distributed to the Company service providers in respect of the pre-IPO awards (Class B-1 and B-2 Units) is presented below: Restricted Stock - Pre- IPO B-1 Restricted Stock - Pre- IPO B-2 Unvested at December 31, 2021 1,206,089 2,023,959 Forfeited (32,614) (136,252) Vested (251,639) — Unvested at June 30, 2022 921,836 1,887,707 2021 Omnibus Incentive Plan We maintain a long-term incentive plan (the “2020 Omnibus Incentive Plan” or the “2020 Plan”) that allows for grants of incentive stock options to employees (including employees of any of our subsidiaries), nonstatutory stock options, restricted stock awards (“RSAs”), restricted stock units (“RSUs”) and other cash-based, equity-based or equity-related awards to employees, directors, and consultants, including employees or consultants of our subsidiaries. We recognized $5.3 million ($2.2 million for stock options and $3.1 million for RSUs) and $2.8 million ($1.3 million for stock options and $1.5 million for RSUs) of share-based compensation expense for these awards for the three months ended June 30, 2022 and 2021, respectively. We recognized $9.2 million ($3.7 million for stock options and $5.5 million for RSUs) and $5.6 million ($2.5 million for stock options and $3.1 million for RSUs) for the six months ended June 30, 2022 and 2021, respectively, in our Consolidated Statements of Operations and Comprehensive Income (Loss), in “Selling, general and administrative expenses.” Stock Options Stock options generally vest ratably over a period of three Number of Shares Weighted-average Exercise Price At December 31, 2021 2,423,256 $ 23.02 Granted 1,416,967 20.03 Forfeited (61,393) 22.78 Exercised — — At June 30, 2022 3,778,830 $ 21.90 As of June 30, 2022, there were 0.6 million stock options vested. RSUs RSUs generally vest ratably over a period of one Number of Shares Weighted-average Grant Date Fair Value Unvested at December 31, 2021 640,122 $ 23.19 Granted 923,137 20.70 Forfeited (37,499) 22.68 Vested (88,459) 24.13 Unvested at June 30, 2022 1,437,301 $ 21.55

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic earnings per share represents the amount of income attributable to each common share outstanding. Diluted earnings per share represents the amount of income attributable to each common share outstanding adjusted for the effects of potentially dilutive common shares. Potentially dilutive common shares include stock options and other stock-based awards. In the periods where the effect would be antidilutive, potentially dilutive common shares are excluded from the calculation of diluted earnings per share. In periods in which the Company has net income, earnings per share is calculated using the two-class method. This method is required as unvested restricted stock distributed in respect of pre-IPO Class B-1 and B-2 awards have the right to receive non-forfeitable dividends or dividend equivalents if the Company were to declare dividends on its common stock. Pursuant to the two-class method, earnings for each period are allocated on a pro-rata basis to common stockholders and unvested pre-IPO Class B-1 and B-2 restricted stock awards. Diluted earnings per share is computed using the more dilutive of (a) the two-class method, or (b) treasury stock method, as applicable, to the potentially dilutive instruments. Our basic and diluted earnings per common share are calculated as follows: Three Months Ended Six Months Ended in thousands of U.S. dollars and share amounts (except per share amounts) June 30, June 30, June 30, June 30, Earnings: Net income $ 30,418 $ 42,615 $ 61,059 $ 53,680 Less: Net income attributable to noncontrolling interests — 16 — 239 Less: Allocation to participating securities 308 574 645 746 Net income attributable to Sotera Health Company common shareholders $ 30,110 $ 42,025 $ 60,414 $ 52,695 Weighted Average Common Shares: Weighted-average common shares outstanding - basic 279,990 279,078 279,910 278,953 Dilutive effect of potential common shares 181 136 128 125 Weighted-average common shares outstanding - diluted 280,171 279,214 280,038 279,078 Earnings per Common Share: Net income per common share attributable to Sotera Health Company common shareholders - basic $ 0.11 $ 0.15 $ 0.22 $ 0.19 Net income per common share attributable to Sotera Health Company common shareholders - diluted 0.11 0.15 0.22 0.19 Diluted earnings per share does not consider the following potential common shares as the effect would be anti-dilutive: Three Months Ended Six Months Ended in thousands of share amounts June 30, June 30, June 30, June 30, Stock options 3,780 2,404 3,337 2,404 RSUs 11 4 17 4 Total anti-dilutive securities 3,791 2,408 3,354 2,408

Commitment and Contingencies

Commitment and Contingencies	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies From time to time, we may be subject to various lawsuits and other claims, as well as gain contingencies, in the ordinary course of our business. In addition, from time to time, we receive communications from government or regulatory agencies concerning investigations or allegations of noncompliance with laws or regulations in jurisdictions in which we operate. We establish reserves for specific liabilities in connection with regulatory and legal actions that we determine to be both probable and reasonably estimable. No material amounts have been accrued in our consolidated financial statements with respect to any loss contingencies. In certain of the matters described below, we are not able to make a reasonable estimate of any liability because of the uncertainties related to the outcome and/or the amount or range of loss. While it is not possible to determine the ultimate disposition of each of these matters, we do not expect that the ultimate resolution of pending regulatory and legal matters in future periods, including the matters described below, will have a material effect on our financial condition or results of operations. Despite the above, the Company may incur material defense and settlement costs, diversion of management resources and other adverse effects on our business, financial condition, or results of operations. Ethylene Oxide Tort Litigation Sterigenics and other medical supply sterilization companies have been subjected to personal injury and related tort lawsuits alleging various injuries caused by low-level environmental exposure to EO emissions from sterilization facilities. Those lawsuits, as detailed further below, are individual claims, as opposed to class actions. Illinois Approximately 780 plaintiffs have filed lawsuits against subsidiaries of the Company and other parties, alleging personal injuries including cancer and other diseases, or wrongful death, resulting from purported emissions and releases of EO from Sterigenics U.S., LLC’s former Willowbrook facility. Additional derivative claims are alleged on behalf of other individuals related to some of these personal injury plaintiffs. Each plaintiff seeks damages in an amount to be determined by the trier of fact. The lawsuits were consolidated for pre-trial purposes by the Cook County Circuit Court, Illinois (the “Consolidated Case”). Plaintiffs have not yet made any specific damages claims. Fact discovery in the Consolidated Case concluded on February 1, 2022. On June 28, 2022 the Court granted summary judgment, dismissing plaintiffs’ ultrahazardous activity / strict liability claims and denying the remainder of the motions. Three of the individual cases included in the Consolidated Case have been scheduled for trials in 2022. Plaintiffs in those three cases have been granted permission to seek punitive damage awards against subsidiaries of the Company and another party. The first trial is now expected to begin on August 12, 2022. The next two individual trials are scheduled to begin in the third and fourth quarters of 2022, followed by five individual trials scheduled to occur consecutively, beginning in the first quarter of 2023. Additional trial dates are expected to be announced on September 7, 2022. Georgia Since August 17, 2020, approximately 300 plaintiffs have filed lawsuits against subsidiaries of the Company and other parties in the State Court of Cobb County, Georgia and the State Court of Gwinnett County, Georgia alleging that they suffered personal injuries resulting from emissions and releases of EO from Sterigenics’ Atlanta facility. Additional derivative claims are alleged on behalf of other individuals related to some of these personal injury plaintiffs. Our subsidiaries are also defendants in two lawsuits alleging that the Atlanta facility has devalued and harmed plaintiffs’ use of real properties they own in Smyrna, Georgia and caused other damages. These personal injury and property devaluation plaintiffs seek various forms of relief including damages. All but two of the personal injury lawsuits pending in Cobb County have been consolidated for pretrial purposes. The Court has entered a phased case management schedule for a “pool” of ten of the consolidated cases by which threshold general causation issues will be decided in Phase 1, followed by specific causation issues in Phase 2 as to any of the pooled cases that survive Phase 1. The Court has stayed the remainder of the consolidated personal injury cases pending in Cobb County and an immediate appeal of a discrete procedural issue is being pursued by the defendants. One personal injury case is pending in Gwinnett County and is scheduled for trial in June 2023. The remaining two personal injury cases and two property devaluation cases are in various stages of pleadings and motions practice and fact discovery. Georgia Facility Operations Litigation In October 2019, while Sterigenics had voluntarily suspended the facility’s operations to install emissions reduction enhancements at its Atlanta facility, Cobb County, Georgia officials asserted that the facility had an incorrect “certificate of occupancy” and could not resume operations without obtaining a new certificate of occupancy after a third-party code compliance review. On March 30, 2020 Sterigenics filed suit against Cobb County, Georgia and certain of its officials for wrongfully interfering with operations of the facility. On April 1, 2020 Sterigenics won a Temporary Restraining Order prohibiting Cobb County officials from interfering with the facility’s normal operations, which relief has been extended until entry of a final judgment in the case. The parties are conducting expert discovery, which is scheduled to end in September 2022. A Modified Scheduling Order was entered on July 14, 2022, including that trial will take place no later than March 2023. New Mexico Attorney General Litigation On December 22, 2020, the New Mexico Attorney General filed a lawsuit in the Third Judicial District Court, Doña Ana County, New Mexico against the Company and certain subsidiaries alleging that emissions of EO from Sterigenics’ sterilization facility in Santa Teresa, New Mexico have deteriorated the air quality in Santa Teresa and surrounding communities and materially contributed to increased health risks suffered by residents of those communities. The Complaint asserts claims for public nuisance, negligence, strict liability, violations of New Mexico’s Public Nuisance Statute and Unfair Practices Act and seeks various forms of relief including a temporary restraining order and preliminary injunctive relief and damages. On June 29, 2021, the Court entered an Order Granting Preliminary Injunction (the “Order”). The Order does not require closure of the facility, but prohibits Sterigenics from allowing any uncontrolled emission or release of EO from the facility. On December 20, 2021 the Court entered an order identifying a protocol to monitor Sterigenics’ compliance with the Order. A motion challenging the Court’s jurisdiction over the Company and certain other defendants has been held in abeyance until the completion of jurisdictional discovery, and all other motions to dismiss have been denied. The parties are conducting fact discovery. * * * Our insurance for litigation related to alleged environmental liabilities, like the litigation pending in Illinois, Georgia and New Mexico described above has limits of $10.0 million per occurrence and $20.0 million in the aggregate. The per occurrence limit related to the Willowbrook, Illinois litigation was fully utilized by June 30, 2020. The remaining $10.0 million limit is currently being utilized for occurrences related to the EO litigation in Georgia and New Mexico described above. As of June 30, 2022, we have utilized approximately $6.0 million of the remaining $10.0 million limit. Our insurance for future alleged environmental liabilities excludes coverage for EO claims. In addition, we are pursuing other insurance coverage for EO tort litigation. In 2021, Sterigenics U.S., LLC filed an insurance coverage lawsuit in the U.S. District Court for the Northern District of Illinois relating to two commercial general liability policies issued in the 1980s. On August 3, 2022, the Court issued a Memorandum Opinion and Order concluding that the insurer owes Sterigenics U.S., LLC and another insured party a duty to defend the Willowbrook, Illinois litigation, which may allow us to recover defense costs related to that litigation.

Financial Instruments and Finan

Financial Instruments and Financial Risk	6 Months Ended
	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial Instruments and Financial Risk	Financial Instruments and Financial Risk Derivative Instruments We do not use derivatives for trading or speculative purposes and are not a party to leveraged derivatives. Derivatives Designated in Hedge Relationships From time to time, the Company utilizes interest rate derivatives designated in hedge relationships to manage interest rate risk associated with our variable rate borrowings. These instruments are measured at fair value with changes in fair value recorded as a component of “Accumulated other comprehensive income (loss)” on our Consolidated Balance Sheets. In May 2022, we entered into two interest rate cap agreements with a combined notional amount of $1,000.0 million for a total option premium of $4.1 million. The interest rate caps have a forward start date of July 31, 2023 and expire on July 31, 2024. We have designated these interest rate caps as cash flow hedges designed to hedge the variability of cash flows attributable to changes in the benchmark interest rate of our Term Loan. Under the current terms of the loan agreement, the benchmark interest rate index is expected to transition from LIBOR to the term Secured Overnight Financing Rate (“SOFR”) at the earlier of June 30, 2023 or the Company’s election to “early opt-in” to SOFR. Accordingly, the interest rate cap agreements hedge the variability of cash flows attributable to changes in SOFR by limiting our cash flow exposure related to the term SOFR under a portion of our variable rate borrowings to 3.5%. In October 2021, we entered into two interest rate cap agreements with a combined notional amount of $1,000.0 million for a total option premium of $1.8 million. Both interest rate caps have a forward start date of December 31, 2022 and expire on July 31, 2023. These interest rate caps are designated as cash flow hedges and are designed to hedge the variability of cash flows attributable to changes in LIBOR (or its successor), the benchmark interest rate being hedged, by limiting our cash flow exposure related to the LIBOR base rate under a portion of our variable rate borrowings to 1.0%. Derivatives Not Designated in Hedge Relationships Additionally, from time to time, the Company enters into interest rate derivatives to manage economic risks associated with our variable rate borrowings that are not designated in hedge relationships. These instruments are recorded at fair value on the Consolidated Balance Sheets, with any changes in the value recorded in “Interest expense, net” in the Consolidated Statements of Operations and Comprehensive Income (Loss). In June 2020, SHH entered into two interest rate cap agreements with notional amounts of $1,000.0 million and $500.0 million, respectively, for a total option premium of $0.3 million. These instruments were initially scheduled to terminate on August 31, 2021 and February 28, 2022, respectively. The interest rate caps limit our cash flow exposure related to the LIBOR base rate under a portion of our variable rate borrowings to 1%. In February 2021, we amended the two interest rate cap agreements referenced above to reduce the strike rate from 1% to 0.5%. Premiums paid to amend the interest rate caps were immaterial. We also entered into two additional interest rate cap agreements in February 2021 with a combined notional amount of $1,000.0 million, for a total option premium of $0.4 million. These instruments were effective September 30, 2021, and will terminate on December 31, 2022. The amended and new interest rate caps limit our cash flow exposure related to LIBOR under a portion of our variable rate borrowings to 0.5%. The Company also entered into foreign currency forward contracts to manage foreign currency exchange rate risk of our intercompany loans in certain of our international subsidiaries. The foreign currency forward contracts expire on a monthly basis. The fair value of the outstanding foreign currency forward contracts was zero as of June 30, 2022 and December 31, 2021, respectively. Embedded Derivatives We have embedded derivatives in certain of our customer and supply contracts as a result of the currency of the contract being different from the functional currency of the parties involved. Changes in the fair value of the embedded derivatives are recognized in “Other expense (income), net” in the Consolidated Statements of Operations and Comprehensive Income (Loss). The following table provides a summary of the notional and fair values of our derivative instruments: June 30, 2022 December 31, 2021 (in U.S. Dollars; notional in millions, fair value in thousands) Fair Value Fair Value Notional Derivative Derivative Notional Derivative Derivative Derivatives designated as hedging instruments: Interest rate caps $ 2,000.0 (a) $ 19,144 $ — $ 1,000.0 $ 2,322 $ — Derivatives not designated as hedging instruments: Interest rate caps $ 1,000.0 $ 11,100 $ — $ 1,500.0 $ 1,654 $ — Embedded derivatives 190.7 (b) 1,389 2,322 144.4 496 — Total $ 3,190.7 $ 31,633 $ 2,322 $ 2,644.4 $ 4,472 $ — (a) $1,000.0 million and $1,000.0 million notional amount of interest rate caps designated as hedging instruments have forward start dates beginning on December 31, 2022 and July 31, 2023, respectively. (b) Represents the total notional amounts for certain of the Company’s supply and sales contracts accounted for as embedded derivatives. Embedded derivative assets and interest rate caps are included in “Prepaid expenses and other current assets” and “Other assets,” respectively, on the Consolidated Balance Sheets depending upon their respective maturity dates. Embedded derivative liabilities are included in “Accrued liabilities” on the Consolidated Balance Sheets. The following tables summarize the activities of our derivative instruments for the periods presented, and the line item they are recorded in the Consolidated Statements of Operations and Comprehensive Income (Loss): (thousands of U.S. dollars) Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Unrealized (gain) loss on interest rate caps recorded in interest expense, net $ (3,100) $ 293 $ (9,446) $ 383 Realized gain on interest rate caps recorded in interest expense, net (1,279) — (1,279) — Unrealized loss (gain) on embedded derivatives recorded in other expense (income), net 2,435 (761) 1,417 (1,614) Realized loss (gain) on foreign currency forward contracts recorded in foreign exchange (gain) loss 1,035 231 (495) (2,143) The following table summarizes the net gains on our cash flow hedges recognized in “Other comprehensive income (loss)” during the period: (thousands of U.S. dollars) Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Unrealized gain on interest rate derivatives recorded in other comprehensive income (loss), net of tax $ 3,178 $ — $ 9,357 $ — We expect to reclassify approximately $12.5 million of after-tax net gains on derivative instruments from accumulated other comprehensive income (loss) to income during the next 12 months associated with our cash flow hedges. Credit Risk Certain of our financial assets, including cash and cash equivalents, are exposed to credit risk. We are also exposed, in our normal course of business, to credit risk from our customers. As of June 30, 2022 and December 31, 2021, accounts receivable was net of an allowance for uncollectible accounts of $1.8 million and $1.3 million, respectively. Credit risk on financial instruments arises from the potential for counterparties to default on their contractual obligations to us. We are exposed to credit risk in the event of non-performance, but do not anticipate non-performance by any of the counterparties to our financial instruments. We limit our credit risk by dealing with counterparties that are considered to be of high credit quality. In the event of non-performance by counterparties, the carrying value of our financial instruments represents the maximum amount of loss that would be incurred. Our credit team evaluates and regularly monitors changes in the credit risk of our customers. We routinely assess the collectability of accounts receivable and maintain an adequate allowance for uncollectible accounts to address potential credit losses. The process includes a review of customer financial information and credit ratings, current market conditions as well as the expected future economic conditions that may impact the collection of trade receivables. We regularly review our customers' past due amounts through an analysis of aged accounts receivables, specific customer past due aging amounts, and the history of trade receivables written off. Upon concluding that a receivable balance is not collectible, the balance is written off against the allowance for uncollectible accounts. Fair Value Hierarchy The fair value of our financial instruments is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The valuation techniques we would use to determine such fair values are described as follows: Level 1—fair values determined by inputs utilizing quoted prices in active markets for identical assets or liabilities; Level 2—fair values based on observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, or other inputs that are observable; Level 3—fair values determined by unobservable inputs reflecting our own assumptions, consistent with reasonably available assumptions made by other market participants. The following table discloses the fair value of our financial assets and liabilities: As of June 30, 2022 Fair Value (thousands of U.S. dollars) Carrying Level 1 Level 2 Level 3 Derivatives designated as hedging instruments (a) Derivative assets - interest rate caps $ 19,144 $ — $ 19,144 $ — Derivatives not designated as hedging instruments (b) Derivative assets - interest rate caps 11,100 — 11,100 — Embedded derivative assets 1,389 — 1,389 — Embedded derivative liabilities 2,322 — 2,322 — Long-Term Debt (c) Term loan, due 2026 1,745,102 — 1,679,353 — Other long-term debt 446 — 446 — Finance Lease Obligations (with current portion) (d) 58,755 — 58,755 — As of December 31, 2021 Fair Value (thousands of U.S. dollars) Carrying Level 1 Level 2 Level 3 Derivatives designated as hedging instruments (a) Derivative assets - interest rate caps $ 2,322 $ — $ 2,322 $ — Derivatives not designated as hedging instruments (b) Derivative assets - interest rate caps 1,654 — 1,654 — Embedded derivative liabilities 496 — 496 — Long-Term Debt (c) Term loan, due 2026 1,743,090 — 1,754,285 — Other long-term debt 444 — 444 — Finance Lease Obligations (with current portion) (d) 42,037 — 42,037 — (a) Derivatives designated as hedging instruments are measured at fair value with changes in fair value recorded as a component of accumulated other comprehensive income (loss). Interest rate caps are valued using pricing models that incorporate observable market inputs including interest rate and yield curves. (b) Derivatives that are not designated as hedging instruments are measured at fair value with gains or losses recognized immediately in the Consolidated Statements of Operations and Comprehensive Income (Loss). Interest rate caps are valued using pricing models that incorporate observable market inputs including interest rate and yield curves. Embedded derivatives are valued using internally developed models that rely on observable market inputs including foreign currency forward curves. (c) Carrying amounts of long-term debt instruments are reported net of discounts and debt issuance costs. The estimated fair value of these instruments is based upon quoted prices for the Term Loan due 2026 in inactive markets as provided by an independent fixed income security pricing service. Fair value approximates carrying value for “Other long-term debt.” (d) Fair value approximates carrying value.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Segment Information	Segment Information We identify our operating segments based on the way we manage, evaluate and internally report our business activities for purposes of allocating resources and assessing performance. We have three reportable segments: Sterigenics, Nordion and Nelson Labs. We have determined our reportable segments based upon an assessment of organizational structure, service types, and internally prepared financial statements. Our chief operating decision maker evaluates performance and allocates resources based on net revenues and segment income after the elimination of intercompany activities. The accounting policies of our reportable segments are the same as those described in Note 1, “Significant Accounting Policies” of our 2021 Form 10-K. Sterigenics Sterigenics provides outsourced terminal sterilization and irradiation services for the medical device, pharmaceutical, food safety and advanced applications markets using three major technologies: gamma irradiation, EO processing and E-beam irradiation. Nordion Nordion is a leading global provider of Co-60 used in the sterilization and irradiation processes for the medical device, pharmaceutical, food safety, and high-performance materials industries, as well as in the treatment of cancer. In addition, Nordion is a leading global provider of gamma irradiation systems. Nelson Labs Nelson Labs provides outsourced microbiological and analytical chemistry testing and advisory services for the medical device and pharmaceutical industries. For the three months ended June 30, 2022, four customers reported within the Nordion segment individually represented 10% or more of the segment’s total net revenues. These customers represented 21.7%, 15.4%, 13.2%, and 15.9% of the total segment’s external net revenues for the three months ended June 30, 2022. For the three months ended June 30, 2021, two customers reported within the Nordion segment individually represented 10% or more of the segment’s total net revenues. These customers represented 17.9% and 16.1% of the total segment’s external net revenues for the three months ended June 30, 2021. For the six months ended June 30, 2022, four customers reported within the Nordion segment individually represented 10% or more of the segment’s total net revenues. These customers represented 18.8%, 15.5%, 12.8%, and 10.6% of the total segment’s external net revenues for the six months ended June 30, 2022. For the six months ended June 30, 2021, four customers reported within the Nordion segment individually represented 10% or more of the segment’s total net revenues. These customers represented 14.8%, 13.1%, 12.6%, and 10.5% of the total segment's external net revenues for the six months ended June 30, 2021. Financial information for each of our segments is presented in the following table: Three Months Ended June 30, Six Months Ended June 30, (thousands of U.S. dollars) 2022 2021 2022 2021 Segment revenues (a) Sterigenics $ 157,792 $ 145,182 $ 307,254 $ 276,333 Nordion 50,478 49,125 84,480 75,043 Nelson Labs 58,369 57,610 111,659 112,689 Total net revenues $ 266,639 $ 251,917 $ 503,393 $ 464,065 Segment income (b) Sterigenics $ 85,098 $ 79,569 $ 164,501 $ 148,030 Nordion 29,982 31,168 48,885 44,954 Nelson Labs 21,055 23,826 38,098 46,896 Total segment income $ 136,135 $ 134,563 $ 251,484 $ 239,880 (a) Revenues are reported net of intersegment sales. Our Nordion segment recognized $15.8 million and $7.0 million in revenues from sales to our Sterigenics segment for the three months ended June 30, 2022 and 2021, and $31.3 million and $17.5 million in revenues from sales to our Sterigenics segment for the six months ended June 30, 2022 and 2021, respectively, that is not reflected in net revenues in the table above. Intersegment sales for Sterigenics and Nelson Labs are immaterial for these periods. (b) Segment income is only provided on a net basis to the chief operating decision maker and is reported net of intersegment profits. Corporate operating expenses for executive management, accounting, information technology, legal, human resources, treasury, corporate development, tax, purchasing, and marketing not directly incurred by a segment are allocated to the segments based on total net revenue. Corporate operating expenses that are directly incurred by a segment are reflected in each segment’s income. Capital expenditures by segment for the six months ended June 30, 2022 and 2021 were as follows: Six Months Ended June 30, (thousands of U.S. dollars) 2022 2021 Sterigenics $ 55,065 $ 35,851 Nordion 10,741 6,376 Nelson Labs 5,836 2,562 Total capital expenditures $ 71,642 $ 44,789 Total assets and depreciation and amortization expense by segment are not readily available and are not reported separately to the chief operating decision maker. A reconciliation of segment income to consolidated income before taxes is as follows: (thousands of U.S. dollars) Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Segment income $ 136,135 $ 134,563 $ 251,484 $ 239,880 Less adjustments: Interest expense, net (a) 17,144 19,163 33,894 40,445 Depreciation and amortization (b) 36,939 37,461 72,988 75,122 Share-based compensation (c) 5,801 3,493 10,339 6,942 Gain on foreign currency and derivatives not designated as hedging instruments, net (d) (1,430) (660) (7,982) (996) Acquisition and divestiture related charges, net (e) 691 844 531 659 Business optimization project expenses (f) 470 275 574 536 Plant closure expenses (g) 478 756 1,149 1,298 Impairment of investment in unconsolidated affiliate (h) 9,613 — 9,613 — Loss on extinguishment of debt (i) — — — 14,312 Professional services relating to EO sterilization facilities (j) 17,678 10,644 35,737 24,043 Accretion of asset retirement obligation (k) 598 602 1,118 1,153 COVID-19 expenses (l) 45 188 148 487 Consolidated income before taxes $ 48,108 $ 61,797 $ 93,375 $ 75,879 (a) The three and six months ended June 30, 2022 excludes $3.1 million and $9.4 million, respectively, of unrealized gains on interest rate derivatives not designated as hedging instruments. (b) Includes depreciation of Co-60 held at gamma irradiation sites. (c) Represents non-cash share-based compensation expense. (d) Represents the effects of (i) fluctuations in foreign currency exchange rates, (ii) non-cash mark-to-fair value of embedded derivatives relating to certain customer and supply contracts at Nordion, and (iii) unrealized gains on interest rate caps not designated as hedging instruments. (e) Represents (i) certain direct and incremental costs related to the acquisitions of RCA, the noncontrolling interests in our China subsidiaries, BioScience Labs in 2021, the first quarter 2021 gain on the mandatorily redeemable noncontrolling interest in Nelson Labs Fairfield (as described in Note 4, “Acquisitions”), and certain related integration efforts as a result of those acquisitions, (ii) the earnings impact of fair value adjustments (excluding those recognized within amortization expense) resulting from the businesses acquired, and (iii) transition services income and non-cash deferred lease income associated with the terms of the divestiture of the Medical Isotopes business in 2018. (f) Represents professional fees, contract termination and exit costs, severance and other payroll costs, and other costs associated with business optimization and cost savings projects relating to the integration of acquisitions, operating structure realignment and other process enhancement projects. (g) Represents professional fees, severance and other payroll costs, and other costs including ongoing lease and utility expenses associated with the closure of the Willowbrook, Illinois facility. (h) Represents an impairment charge on our equity method investment in Auralux. Refer to Note 1, “Basis of Presentation”. (i) Represents expenses incurred in connection with the repricing of our Term Loan in January 2021, including accelerated amortization of prior debt issuance and discount costs. (j) Represents litigation and other professional fees associated with our EO sterilization facilities. See Note 16, “Commitments and Contingencies” . (k) Represents non-cash accretion of asset retirement obligations related to Co-60 and gamma processing facilities, which are based on estimated site remediation costs for any future decommissioning of these facilities (without regard for whether the decommissioning services would be performed by employees of Nordion, instead of by a third party) and are accreted over the life of the asset. (l) Represents non-recurring costs associated with the COVID-19 pandemic, including incremental costs to implement workplace health and safety measures.

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates – In preparing our consolidated financial statements in conformity with U.S. Generally Accepted Accounting Principles (“GAAP”), we make estimates and assumptions that affect the amounts reported and the accompanying notes. We regularly evaluate the estimates and assumptions used and revise them as new information becomes available. Actual results may vary from those estimates.
Adoption of Accounting Standard Updates and ASU’s Issued But Not Yet Adopted	Adoption of Accounting Standard Updates Effective January 1, 2022, we adopted Accounting Standards Update (“ASU”) 2016-13, Financial Instruments – Credit Losses (“ASU 2016-13”): Measurement of Credit Losses on Financial Instruments, and the subsequently issued additional guidance that modified ASU 2016-13 which was originally issued by the Financial Accounting Standards Board (“FASB”) in June 2016. The standard requires an entity to change its accounting approach in determining impairment of certain financial instruments, including trade receivables, from an “incurred loss” to a “current expected credit loss” model. The adoption of this standard did not have a material impact on our consolidated financial statements and disclosures. Effective January 1, 2022, we adopted ASU 2019-12 - Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes which was issued by the FASB in December 2019. The standard simplifies the accounting for income taxes and makes a number of changes meant to add or clarify guidance on accounting for income taxes. The adoption of this standard did not have a material impact on our consolidated financial statements and disclosures. ASUs Issued But Not Yet Adopted In October 2021, the FASB issued ASU 2021-08 - Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (“ASU 2021-08”). The amendments in ASU 2021-08 require that an acquiring entity recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contract with Customers (“ASC Topic 606”). At the acquisition date, an acquirer should account for the related revenue contracts in accordance with ASC Topic 606 as if it had originated the contracts. For public business entities, these amendments are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. We are currently assessing the effect that ASU 2021-08 will have on our financial position, results of operations, and disclosures.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following table shows disaggregated net revenues from contracts with external customers by timing of revenue and by segment for the three and six months ended June 30, 2022 and 2021: (thousands of U.S. dollars) Three Months Ended June 30, 2022 Sterigenics Nordion Nelson Labs Consolidated Point in time $ 157,792 $ 46,386 $ — $ 204,178 Over time — 4,092 58,369 62,461 Total $ 157,792 $ 50,478 $ 58,369 $ 266,639 (thousands of U.S. dollars) Three Months Ended June 30, 2021 Sterigenics Nordion Nelson Labs Consolidated Point in time $ 145,182 $ 47,753 $ — $ 192,935 Over time — 1,372 57,610 58,982 Total $ 145,182 $ 49,125 $ 57,610 $ 251,917 (thousands of U.S. dollars) Six Months Ended June 30, 2022 Sterigenics Nordion Nelson Labs Consolidated Point in time $ 307,254 $ 79,671 $ — $ 386,925 Over time — 4,809 111,659 116,468 Total $ 307,254 $ 84,480 $ 111,659 $ 503,393 (thousands of U.S. dollars) Six Months Ended June 30, 2021 Sterigenics Nordion Nelson Labs Consolidated Point in time $ 276,333 $ 73,671 $ — $ 350,004 Over time — 1,372 112,689 114,061 Total $ 276,333 $ 75,043 $ 112,689 $ 464,065

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2022
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consisted primarily of the following: (thousands of U.S. dollars) June 30, 2022 December 31, 2021 Raw materials and supplies $ 33,329 $ 41,514 Work-in-process 484 3,919 Finished goods 5,961 8,979 39,774 54,412 Reserve for excess and obsolete inventory (122) (124) Inventories, net $ 39,652 $ 54,288

Prepaid Expenses and Other Cu_2

Prepaid Expenses and Other Current Assets (Tables)	6 Months Ended
	Jun. 30, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Deferred Costs, Capitalized, Prepaid, and Other Assets	Prepaid expenses and other current assets consisted primarily of the following: (thousands of U.S. dollars) June 30, 2022 December 31, 2021 Prepaid taxes $ 27,972 $ 24,937 Prepaid business insurance 5,070 10,707 Prepaid rent 1,153 920 Customer contract assets 21,746 15,565 Insurance and indemnification receivables 4,245 3,144 Current deposits 647 623 Prepaid maintenance contracts 388 279 Value added tax receivable 1,128 2,512 Prepaid software licensing 2,444 2,055 Stock supplies 3,420 3,374 Embedded derivatives 1,389 496 Other 11,571 7,311 Prepaid expenses and other current assets $ 81,173 $ 71,923

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Changes to goodwill during the six months ended June 30, 2022 were as follows: (thousands of U.S. dollars) Sterigenics Nordion Nelson Labs Total Goodwill at December 31, 2021 $ 660,743 $ 288,905 $ 170,672 $ 1,120,320 RCA acquisition measurement period adjustments — — 4,601 4,601 Changes due to foreign currency exchange rates (1,857) (4,307) (2,755) (8,919) Goodwill at June 30, 2022 $ 658,886 $ 284,598 $ 172,518 $ 1,116,002
Schedule of Acquired Finite-Lived Intangible Assets	Other intangible assets consisted of the following: (thousands of U.S. dollars) Gross Carrying Amount Accumulated Amortization As of June 30, 2022 Finite-lived intangible assets Customer relationships $ 652,538 $ 391,452 Proprietary technology 87,177 47,793 Trade names 2,555 452 Land-use rights 9,255 1,620 Sealed source and supply agreements 214,744 91,341 Other 5,679 2,673 Total finite-lived intangible assets 971,948 535,331 Indefinite-lived intangible assets Regulatory licenses and other (a) 80,878 — Trade names / trademarks 25,562 — Total indefinite-lived intangible assets 106,440 — Total $ 1,078,388 $ 535,331 As of December 31, 2021 Gross Carrying Amount Accumulated Amortization Finite-lived intangible assets Customer relationships $ 668,628 $ 365,935 Proprietary technology 88,826 44,866 Trade names 145 116 Land-use rights 9,744 1,586 Sealed source and supply agreements 241,611 109,838 Other 6,454 2,166 Total finite-lived intangible assets 1,015,408 524,507 Indefinite-lived intangible assets Regulatory licenses and other (a) 82,110 — Trade names / trademarks 25,833 — Total indefinite-lived intangible assets 107,943 — Total $ 1,123,351 $ 524,507 (a) Includes certain transportation certifications, a class 1B nuclear license and other intangibles related to obtaining such licensure. These assets are considered indefinite-lived as the decision for renewal by the Canadian Nuclear Safety Commission is highly based on a licensee’s previous assessments, reported incidents, and annual compliance and inspection results. New applications for license can take a significant amount of time and cost; whereas an existing licensee with a historical record of compliance and current operating conditions more than likely ensures renewal for another 10 year license period as Nordion has demonstrated over its 75 years of history.
Schedule of Acquired Indefinite-lived Intangible Assets	Other intangible assets consisted of the following: (thousands of U.S. dollars) Gross Carrying Amount Accumulated Amortization As of June 30, 2022 Finite-lived intangible assets Customer relationships $ 652,538 $ 391,452 Proprietary technology 87,177 47,793 Trade names 2,555 452 Land-use rights 9,255 1,620 Sealed source and supply agreements 214,744 91,341 Other 5,679 2,673 Total finite-lived intangible assets 971,948 535,331 Indefinite-lived intangible assets Regulatory licenses and other (a) 80,878 — Trade names / trademarks 25,562 — Total indefinite-lived intangible assets 106,440 — Total $ 1,078,388 $ 535,331 As of December 31, 2021 Gross Carrying Amount Accumulated Amortization Finite-lived intangible assets Customer relationships $ 668,628 $ 365,935 Proprietary technology 88,826 44,866 Trade names 145 116 Land-use rights 9,744 1,586 Sealed source and supply agreements 241,611 109,838 Other 6,454 2,166 Total finite-lived intangible assets 1,015,408 524,507 Indefinite-lived intangible assets Regulatory licenses and other (a) 82,110 — Trade names / trademarks 25,833 — Total indefinite-lived intangible assets 107,943 — Total $ 1,123,351 $ 524,507 (a) Includes certain transportation certifications, a class 1B nuclear license and other intangibles related to obtaining such licensure. These assets are considered indefinite-lived as the decision for renewal by the Canadian Nuclear Safety Commission is highly based on a licensee’s previous assessments, reported incidents, and annual compliance and inspection results. New applications for license can take a significant amount of time and cost; whereas an existing licensee with a historical record of compliance and current operating conditions more than likely ensures renewal for another 10 year license period as Nordion has demonstrated over its 75 years of history.
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	The estimated aggregate amortization expense for finite-lived intangible assets for each of the next five years and thereafter is as follows: (thousands of U.S. dollars) For the remainder of 2022 $ 40,551 2023 81,166 2024 80,389 2025 43,028 2026 22,788 Thereafter 168,695 Total $ 436,617

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	6 Months Ended
	Jun. 30, 2022
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	Accrued liabilities consisted of the following: (thousands of U.S. dollars) June 30, 2022 December 31, 2021 Accrued employee compensation $ 27,500 $ 33,334 Legal reserves 3,119 3,259 Accrued interest expense 782 10,755 Embedded derivatives 2,322 — Professional fees 7,972 4,314 Accrued utilities 1,671 1,797 Insurance accrual 1,781 2,068 Accrued taxes 3,291 2,209 Other 4,220 4,125 Accrued liabilities $ 52,658 $ 61,861

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Long-term debt consisted of the following: (thousands of U.S. dollars) June 30, 2022 December 31, 2021 Term loan, due 2026 $ 1,763,100 $ 1,763,100 Other long-term debt 450 450 Total long-term debt 1,763,550 1,763,550 Less unamortized debt issuance costs and debt discounts (18,002) (20,016) Total long-term debt, less debt issuance costs and debt discounts $ 1,745,548 $ 1,743,534
Schedule of Maturities of Long-term Debt	Aggregate maturities of the Company’s long-term debt, excluding debt discounts, as of June 30, 2022, are as follows: (thousands of U.S. dollars) 2022 $ — 2023 450 2024 — 2025 — 2026 1,763,100 Thereafter — Total $ 1,763,550

Employee Benefits (Tables)

Employee Benefits (Tables)	6 Months Ended
	Jun. 30, 2022
Postemployment Benefits [Abstract]
Schedule of Net Benefit Costs	The components of net periodic pension cost for the defined benefit plan for the three and six months ended June 30, 2022 and 2021 were as follows: Three Months Ended June 30, Six Months Ended June 30, (thousands of U.S. dollars) 2022 2021 2022 2021 Service cost $ 247 $ 307 $ 496 $ 605 Interest cost 1,889 1,662 3,792 3,275 Expected return on plan assets (3,676) (3,665) (7,380) (7,222) Amortization of net actuarial loss — 275 — 542 Net periodic benefit $ (1,540) $ (1,421) $ (3,092) $ (2,800) Three Months Ended June 30, Six Months Ended June 30, (thousands of U.S. dollars) 2022 2021 2022 2021 Service cost $ 4 $ 7 $ 8 $ 14 Interest cost 65 61 130 120 Amortization of net actuarial (gain) loss (2) 9 (4) 17 Net periodic benefit cost $ 67 $ 77 $ 134 $ 151

Other Comprehensive Income (L_2

Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	Changes in our accumulated other comprehensive income (loss) balances, net of applicable tax, were as follows: (thousands of U.S. dollars) Defined Benefit Plans Foreign Currency Translation Interest Rate Derivatives Total Beginning balance – April 1, 2022 $ (17,855) $ (51,414) $ 6,583 $ (62,686) Other comprehensive income (loss) before reclassifications 534 (46,038) 3,178 (42,326) Amounts reclassified from accumulated other comprehensive income (loss) (2) (a) — — (2) Net current-period other comprehensive income (loss) 532 (46,038) 3,178 (42,328) Ending balance – June 30, 2022 $ (17,323) $ (97,452) $ 9,761 $ (105,014) Beginning balance – January 1, 2022 $ (17,581) $ (66,389) $ 404 (83,566) Other comprehensive income (loss) before reclassifications 262 (31,063) 9,357 (21,444) Amounts reclassified from accumulated other comprehensive income (loss) (4) (a) — — (4) Net current-period other comprehensive income (loss) 258 (31,063) 9,357 (21,448) Ending balance – June 30, 2022 $ (17,323) $ (97,452) $ 9,761 $ (105,014) (thousands of U.S. dollars) Defined Benefit Plans Foreign Currency Translation Interest Rate Derivatives Total Beginning balance – April 1, 2021 $ (44,392) $ (52,770) $ — $ (97,162) Other comprehensive income (loss) before reclassifications (705) 20,115 — 19,410 Amounts reclassified from accumulated other comprehensive income (loss) 284 (a) — — 284 Net current-period other comprehensive income (loss) (421) 20,115 — 19,694 Ending balance – June 30, 2021 $ (44,813) $ (32,655) $ — $ (77,468) Beginning balance – January 1, 2021 $ (44,143) $ (49,699) $ — $ (93,842) Other comprehensive income (loss) before reclassifications (1,229) 17,044 — 15,815 Amounts reclassified from accumulated other comprehensive income (loss) 559 (a) — — 559 Net current-period other comprehensive income (loss) (670) 17,044 — 16,374 Ending balance – June 30, 2021 $ (44,813) $ (32,655) $ — $ (77,468) (a) For defined benefit pension plans, amounts reclassified from accumulated other comprehensive income (loss) are recorded to “Other expense (income), net” within the Consolidated Statements of Operations and Comprehensive Income (Loss).

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Schedule of Restricted Stock Activity	A summary of the activity for the six months ended June 30, 2022 related to the restricted stock awards distributed to the Company service providers in respect of the pre-IPO awards (Class B-1 and B-2 Units) is presented below: Restricted Stock - Pre- IPO B-1 Restricted Stock - Pre- IPO B-2 Unvested at December 31, 2021 1,206,089 2,023,959 Forfeited (32,614) (136,252) Vested (251,639) — Unvested at June 30, 2022 921,836 1,887,707 Number of Shares Weighted-average Grant Date Fair Value Unvested at December 31, 2021 640,122 $ 23.19 Granted 923,137 20.70 Forfeited (37,499) 22.68 Vested (88,459) 24.13 Unvested at June 30, 2022 1,437,301 $ 21.55
Schedule of Stock Option Activity	The following table summarizes our stock option activity for the six months ended June 30, 2022: Number of Shares Weighted-average Exercise Price At December 31, 2021 2,423,256 $ 23.02 Granted 1,416,967 20.03 Forfeited (61,393) 22.78 Exercised — — At June 30, 2022 3,778,830 $ 21.90 As of June 30, 2022, there were 0.6 million stock options vested.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Our basic and diluted earnings per common share are calculated as follows: Three Months Ended Six Months Ended in thousands of U.S. dollars and share amounts (except per share amounts) June 30, June 30, June 30, June 30, Earnings: Net income $ 30,418 $ 42,615 $ 61,059 $ 53,680 Less: Net income attributable to noncontrolling interests — 16 — 239 Less: Allocation to participating securities 308 574 645 746 Net income attributable to Sotera Health Company common shareholders $ 30,110 $ 42,025 $ 60,414 $ 52,695 Weighted Average Common Shares: Weighted-average common shares outstanding - basic 279,990 279,078 279,910 278,953 Dilutive effect of potential common shares 181 136 128 125 Weighted-average common shares outstanding - diluted 280,171 279,214 280,038 279,078 Earnings per Common Share: Net income per common share attributable to Sotera Health Company common shareholders - basic $ 0.11 $ 0.15 $ 0.22 $ 0.19 Net income per common share attributable to Sotera Health Company common shareholders - diluted 0.11 0.15 0.22 0.19
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	Diluted earnings per share does not consider the following potential common shares as the effect would be anti-dilutive: Three Months Ended Six Months Ended in thousands of share amounts June 30, June 30, June 30, June 30, Stock options 3,780 2,404 3,337 2,404 RSUs 11 4 17 4 Total anti-dilutive securities 3,791 2,408 3,354 2,408

Financial Instruments and Fin_2

Financial Instruments and Financial Risk (Tables)	6 Months Ended
	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments	The following table provides a summary of the notional and fair values of our derivative instruments: June 30, 2022 December 31, 2021 (in U.S. Dollars; notional in millions, fair value in thousands) Fair Value Fair Value Notional Derivative Derivative Notional Derivative Derivative Derivatives designated as hedging instruments: Interest rate caps $ 2,000.0 (a) $ 19,144 $ — $ 1,000.0 $ 2,322 $ — Derivatives not designated as hedging instruments: Interest rate caps $ 1,000.0 $ 11,100 $ — $ 1,500.0 $ 1,654 $ — Embedded derivatives 190.7 (b) 1,389 2,322 144.4 496 — Total $ 3,190.7 $ 31,633 $ 2,322 $ 2,644.4 $ 4,472 $ — (a) $1,000.0 million and $1,000.0 million notional amount of interest rate caps designated as hedging instruments have forward start dates beginning on December 31, 2022 and July 31, 2023, respectively. (b) Represents the total notional amounts for certain of the Company’s supply and sales contracts accounted for as embedded derivatives.
Schedule of Derivative Instruments, Gain (Loss)	The following tables summarize the activities of our derivative instruments for the periods presented, and the line item they are recorded in the Consolidated Statements of Operations and Comprehensive Income (Loss): (thousands of U.S. dollars) Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Unrealized (gain) loss on interest rate caps recorded in interest expense, net $ (3,100) $ 293 $ (9,446) $ 383 Realized gain on interest rate caps recorded in interest expense, net (1,279) — (1,279) — Unrealized loss (gain) on embedded derivatives recorded in other expense (income), net 2,435 (761) 1,417 (1,614) Realized loss (gain) on foreign currency forward contracts recorded in foreign exchange (gain) loss 1,035 231 (495) (2,143) The following table summarizes the net gains on our cash flow hedges recognized in “Other comprehensive income (loss)” during the period: (thousands of U.S. dollars) Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Unrealized gain on interest rate derivatives recorded in other comprehensive income (loss), net of tax $ 3,178 $ — $ 9,357 $ —
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following table discloses the fair value of our financial assets and liabilities: As of June 30, 2022 Fair Value (thousands of U.S. dollars) Carrying Level 1 Level 2 Level 3 Derivatives designated as hedging instruments (a) Derivative assets - interest rate caps $ 19,144 $ — $ 19,144 $ — Derivatives not designated as hedging instruments (b) Derivative assets - interest rate caps 11,100 — 11,100 — Embedded derivative assets 1,389 — 1,389 — Embedded derivative liabilities 2,322 — 2,322 — Long-Term Debt (c) Term loan, due 2026 1,745,102 — 1,679,353 — Other long-term debt 446 — 446 — Finance Lease Obligations (with current portion) (d) 58,755 — 58,755 — As of December 31, 2021 Fair Value (thousands of U.S. dollars) Carrying Level 1 Level 2 Level 3 Derivatives designated as hedging instruments (a) Derivative assets - interest rate caps $ 2,322 $ — $ 2,322 $ — Derivatives not designated as hedging instruments (b) Derivative assets - interest rate caps 1,654 — 1,654 — Embedded derivative liabilities 496 — 496 — Long-Term Debt (c) Term loan, due 2026 1,743,090 — 1,754,285 — Other long-term debt 444 — 444 — Finance Lease Obligations (with current portion) (d) 42,037 — 42,037 — (a) Derivatives designated as hedging instruments are measured at fair value with changes in fair value recorded as a component of accumulated other comprehensive income (loss). Interest rate caps are valued using pricing models that incorporate observable market inputs including interest rate and yield curves. (b) Derivatives that are not designated as hedging instruments are measured at fair value with gains or losses recognized immediately in the Consolidated Statements of Operations and Comprehensive Income (Loss). Interest rate caps are valued using pricing models that incorporate observable market inputs including interest rate and yield curves. Embedded derivatives are valued using internally developed models that rely on observable market inputs including foreign currency forward curves. (c) Carrying amounts of long-term debt instruments are reported net of discounts and debt issuance costs. The estimated fair value of these instruments is based upon quoted prices for the Term Loan due 2026 in inactive markets as provided by an independent fixed income security pricing service. Fair value approximates carrying value for “Other long-term debt.” (d) Fair value approximates carrying value.

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Financial information for each of our segments is presented in the following table: Three Months Ended June 30, Six Months Ended June 30, (thousands of U.S. dollars) 2022 2021 2022 2021 Segment revenues (a) Sterigenics $ 157,792 $ 145,182 $ 307,254 $ 276,333 Nordion 50,478 49,125 84,480 75,043 Nelson Labs 58,369 57,610 111,659 112,689 Total net revenues $ 266,639 $ 251,917 $ 503,393 $ 464,065 Segment income (b) Sterigenics $ 85,098 $ 79,569 $ 164,501 $ 148,030 Nordion 29,982 31,168 48,885 44,954 Nelson Labs 21,055 23,826 38,098 46,896 Total segment income $ 136,135 $ 134,563 $ 251,484 $ 239,880 (a) Revenues are reported net of intersegment sales. Our Nordion segment recognized $15.8 million and $7.0 million in revenues from sales to our Sterigenics segment for the three months ended June 30, 2022 and 2021, and $31.3 million and $17.5 million in revenues from sales to our Sterigenics segment for the six months ended June 30, 2022 and 2021, respectively, that is not reflected in net revenues in the table above. Intersegment sales for Sterigenics and Nelson Labs are immaterial for these periods. (b) Segment income is only provided on a net basis to the chief operating decision maker and is reported net of intersegment profits. Capital expenditures by segment for the six months ended June 30, 2022 and 2021 were as follows: Six Months Ended June 30, (thousands of U.S. dollars) 2022 2021 Sterigenics $ 55,065 $ 35,851 Nordion 10,741 6,376 Nelson Labs 5,836 2,562 Total capital expenditures $ 71,642 $ 44,789
Schedule of Reconciliation of Operating Profit (Loss) from Segments to Consolidated	A reconciliation of segment income to consolidated income before taxes is as follows: (thousands of U.S. dollars) Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Segment income $ 136,135 $ 134,563 $ 251,484 $ 239,880 Less adjustments: Interest expense, net (a) 17,144 19,163 33,894 40,445 Depreciation and amortization (b) 36,939 37,461 72,988 75,122 Share-based compensation (c) 5,801 3,493 10,339 6,942 Gain on foreign currency and derivatives not designated as hedging instruments, net (d) (1,430) (660) (7,982) (996) Acquisition and divestiture related charges, net (e) 691 844 531 659 Business optimization project expenses (f) 470 275 574 536 Plant closure expenses (g) 478 756 1,149 1,298 Impairment of investment in unconsolidated affiliate (h) 9,613 — 9,613 — Loss on extinguishment of debt (i) — — — 14,312 Professional services relating to EO sterilization facilities (j) 17,678 10,644 35,737 24,043 Accretion of asset retirement obligation (k) 598 602 1,118 1,153 COVID-19 expenses (l) 45 188 148 487 Consolidated income before taxes $ 48,108 $ 61,797 $ 93,375 $ 75,879 (a) The three and six months ended June 30, 2022 excludes $3.1 million and $9.4 million, respectively, of unrealized gains on interest rate derivatives not designated as hedging instruments. (b) Includes depreciation of Co-60 held at gamma irradiation sites. (c) Represents non-cash share-based compensation expense. (d) Represents the effects of (i) fluctuations in foreign currency exchange rates, (ii) non-cash mark-to-fair value of embedded derivatives relating to certain customer and supply contracts at Nordion, and (iii) unrealized gains on interest rate caps not designated as hedging instruments. (e) Represents (i) certain direct and incremental costs related to the acquisitions of RCA, the noncontrolling interests in our China subsidiaries, BioScience Labs in 2021, the first quarter 2021 gain on the mandatorily redeemable noncontrolling interest in Nelson Labs Fairfield (as described in Note 4, “Acquisitions”), and certain related integration efforts as a result of those acquisitions, (ii) the earnings impact of fair value adjustments (excluding those recognized within amortization expense) resulting from the businesses acquired, and (iii) transition services income and non-cash deferred lease income associated with the terms of the divestiture of the Medical Isotopes business in 2018. (f) Represents professional fees, contract termination and exit costs, severance and other payroll costs, and other costs associated with business optimization and cost savings projects relating to the integration of acquisitions, operating structure realignment and other process enhancement projects. (g) Represents professional fees, severance and other payroll costs, and other costs including ongoing lease and utility expenses associated with the closure of the Willowbrook, Illinois facility. (h) Represents an impairment charge on our equity method investment in Auralux. Refer to Note 1, “Basis of Presentation”. (i) Represents expenses incurred in connection with the repricing of our Term Loan in January 2021, including accelerated amortization of prior debt issuance and discount costs. (j) Represents litigation and other professional fees associated with our EO sterilization facilities. See Note 16, “Commitments and Contingencies” . (k) Represents non-cash accretion of asset retirement obligations related to Co-60 and gamma processing facilities, which are based on estimated site remediation costs for any future decommissioning of these facilities (without regard for whether the decommissioning services would be performed by employees of Nordion, instead of by a third party) and are accreted over the life of the asset. (l) Represents non-recurring costs associated with the COVID-19 pandemic, including incremental costs to implement workplace health and safety measures.

Basis of Presentation (Details)

Basis of Presentation (Details) $ in Thousands			3 Months Ended		6 Months Ended
	May 18, 2021 subsidiary	Mar. 11, 2021	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($) subsidiary	Jun. 30, 2022 USD ($) segment	Jun. 30, 2021 USD ($) subsidiary	Jul. 31, 2020
Accounting Policies [Abstract]
Number of operating segments | segment					3
Number of reportable segments | segment					3
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Impairment of investment in unconsolidated affiliate			$ 9,613	$ 0	$ 9,613	$ 0
Unnamed E-Beam Joint Venture
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage							60%
Auralux
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Investments fair value			0		$ 0
Impairment of investment in unconsolidated affiliate			$ 9,600
Nelson Fairfield
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Percent of purchase of interest		15%
China
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Number of subsidiaries with non-controlling interest | subsidiary	2			2		2
China | Subsidiary One
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Percent of purchase of interest	15%			15%
China | Subsidiary Two
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Percent of purchase of interest	33%			33%

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Total net revenues	$ 266,639	$ 251,917	$ 503,393	$ 464,065
Customer contract assets	21,746		21,746		$ 15,565
Deferred revenues	6,863		6,863		$ 8,669
Point in time
Disaggregation of Revenue [Line Items]
Total net revenues	204,178	192,935	386,925	350,004
Over time
Disaggregation of Revenue [Line Items]
Total net revenues	62,461	58,982	116,468	114,061
Sterigenics
Disaggregation of Revenue [Line Items]
Total net revenues	157,792	145,182	307,254	276,333
Sterigenics | Point in time
Disaggregation of Revenue [Line Items]
Total net revenues	157,792	145,182	307,254	276,333
Sterigenics | Over time
Disaggregation of Revenue [Line Items]
Total net revenues	0	0	0	0
Nordion
Disaggregation of Revenue [Line Items]
Total net revenues	50,478	49,125	84,480	75,043
Nordion | Point in time
Disaggregation of Revenue [Line Items]
Total net revenues	46,386	47,753	79,671	73,671
Nordion | Over time
Disaggregation of Revenue [Line Items]
Total net revenues	4,092	1,372	4,809	1,372
Nelson Labs
Disaggregation of Revenue [Line Items]
Total net revenues	58,369	57,610	111,659	112,689
Nelson Labs | Point in time
Disaggregation of Revenue [Line Items]
Total net revenues	0	0	0	0
Nelson Labs | Over time
Disaggregation of Revenue [Line Items]
Total net revenues	$ 58,369	$ 57,610	$ 111,659	$ 112,689

Acquisitions (Details)

Acquisitions (Details) $ in Thousands					3 Months Ended	6 Months Ended		13 Months Ended
	Nov. 04, 2021 USD ($)	May 18, 2021 USD ($) subsidiary	Mar. 11, 2021 USD ($)	Mar. 08, 2021 USD ($)	Jun. 30, 2021 USD ($) subsidiary	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($) subsidiary	Jun. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)	Aug. 31, 2018
Business Acquisition [Line Items]
Goodwill						$ 1,116,002		$ 1,116,002	$ 1,120,320
Decrease from redemptions or purchase of interests					$ 8,578		$ 8,578	2,800
Payments to acquire businesses, net of cash acquired						0	13,760
Additional Paid-In Capital
Business Acquisition [Line Items]
Decrease from redemptions or purchase of interests					$ 5,772		$ 5,772	(5,800)
China
Business Acquisition [Line Items]
Number of subsidiaries with non-controlling interest | subsidiary		2			2		2
Purchase price		$ 8,600
Amount of demand note cancelled		$ 800
Percent of consideration transferred on acquisition date		90%
Percent of consideration settled in post-closing payment		20,000,000%
China | Subsidiary One
Business Acquisition [Line Items]
Percent of purchase of interest		15%			15%
China | Subsidiary Two
Business Acquisition [Line Items]
Percent of purchase of interest		33%			33%
China | China Subsidiaries
Business Acquisition [Line Items]
Ownership percentage by parent		100%
Regulatory Compliance Associates Inc. (RCA)
Business Acquisition [Line Items]
Purchase price	$ 30,600
Cash acquired	$ 600
Goodwill						25,200		25,200
Regulatory Compliance Associates Inc. (RCA) | Customer relationships
Business Acquisition [Line Items]
Finite-lived intangibles						$ 6,400		$ 6,400
Nelson Fairfield
Business Acquisition [Line Items]
Purchase price			$ 12,400
Interest acquired			15%							85%
Step acquisition, gain			$ 1,200
Financial instruments subject to mandatory redemption									$ 13,600
Period of remaining interests to be acquired			3 years
BioScience
Business Acquisition [Line Items]
Goodwill				$ 8,400
Payments to acquire businesses, net of cash acquired				13,500
Cash acquired				200
Liabilities incurred				$ 1,900

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 33,329	$ 41,514
Work-in-process	484	3,919
Finished goods	5,961	8,979
Inventories, gross	39,774	54,412
Reserve for excess and obsolete inventory	(122)	(124)
Inventories, net	$ 39,652	$ 54,288

Prepaid Expenses and Other Cu_3

Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid taxes	$ 27,972	$ 24,937
Prepaid business insurance	5,070	10,707
Prepaid rent	1,153	920
Customer contract assets	21,746	15,565
Insurance and indemnification receivables	4,245	3,144
Current deposits	647	623
Prepaid maintenance contracts	388	279
Value added tax receivable	1,128	2,512
Prepaid software licensing	2,444	2,055
Stock supplies	3,420	3,374
Embedded derivatives	1,389	496
Other	11,571	7,311
Prepaid expenses and other current assets	$ 81,173	$ 71,923

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Goodwill (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 1,120,320
Changes due to foreign currency exchange rates	(8,919)
Ending balance	1,116,002
Regulatory Compliance Associates Inc. (RCA)
Goodwill [Roll Forward]
RCA acquisition measurement period adjustments	4,601
Ending balance	25,200
Sterigenics
Goodwill [Roll Forward]
Beginning balance	660,743
Changes due to foreign currency exchange rates	(1,857)
Ending balance	658,886
Sterigenics | Regulatory Compliance Associates Inc. (RCA)
Goodwill [Roll Forward]
RCA acquisition measurement period adjustments	0
Nordion
Goodwill [Roll Forward]
Beginning balance	288,905
Changes due to foreign currency exchange rates	(4,307)
Ending balance	284,598
Nordion | Regulatory Compliance Associates Inc. (RCA)
Goodwill [Roll Forward]
RCA acquisition measurement period adjustments	0
Nelson Labs
Goodwill [Roll Forward]
Beginning balance	170,672
Changes due to foreign currency exchange rates	(2,755)
Ending balance	172,518
Nelson Labs | Regulatory Compliance Associates Inc. (RCA)
Goodwill [Roll Forward]
RCA acquisition measurement period adjustments	$ 4,601

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Intangibles (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 971,948	$ 1,015,408
Accumulated Amortization	535,331	524,507
Acquired Indefinite-lived Intangible Assets [Line Items]
Gross Carrying Amount	106,440	107,943
Total	1,078,388	1,123,351
Regulatory licenses and other
Acquired Indefinite-lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 80,878	82,110
Renewal term	10 years
Trade names / trademarks
Acquired Indefinite-lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 25,562	25,833
Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	652,538	668,628
Accumulated Amortization	391,452	365,935
Proprietary technology
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	87,177	88,826
Accumulated Amortization	47,793	44,866
Trade names
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	2,555	145
Accumulated Amortization	452	116
Land-use rights
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	9,255	9,744
Accumulated Amortization	1,620	1,586
Sealed source and supply agreements
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	214,744	241,611
Accumulated Amortization	91,341	109,838
Other
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	5,679	6,454
Accumulated Amortization	$ 2,673	$ 2,166

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets			$ 41,378	$ 44,060
Finite-lived intangible assets, remaining amortization period			8 years 9 months 18 days
Other
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 21,200	$ 21,800	$ 41,400	44,100
Other | Cost of Revenue
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	5,400	6,100	9,800	11,900
Other | Selling, General and Administrative Expenses
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 15,800	$ 15,700	$ 31,600	$ 32,200

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets - Future Amortization Expense (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
For the remainder of 2022	$ 40,551
2023	81,166
2024	80,389
2025	43,028
2026	22,788
Thereafter	168,695
Total	$ 436,617

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Accrued employee compensation	$ 27,500	$ 33,334
Legal reserves	3,119	3,259
Accrued interest expense	782	10,755
Embedded derivatives	2,322	0
Professional fees	7,972	4,314
Accrued utilities	1,671	1,797
Insurance accrual	1,781	2,068
Accrued taxes	3,291	2,209
Other	4,220	4,125
Accrued liabilities	$ 52,658	$ 61,861

Long-Term Debt - Schedule of De

Long-Term Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Total long-term debt	$ 1,763,550	$ 1,763,550
Less unamortized debt issuance costs and debt discounts	(18,002)	(20,016)
Total long-term debt, less debt issuance costs and debt discounts	1,745,548	1,743,534
Term Loan | Term loan, due 2026
Debt Instrument [Line Items]
Total long-term debt	1,763,100	1,763,100
Other long-term debt
Debt Instrument [Line Items]
Total long-term debt	$ 450	$ 450

Long-Term Debt - Senior Secured

Long-Term Debt - Senior Secured Credit Facilities (Details) - USD ($)				3 Months Ended		6 Months Ended
	Mar. 26, 2021	Jan. 20, 2021	Jan. 19, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Jul. 31, 2020	Dec. 13, 2019
Debt Instrument [Line Items]
Total long-term debt				$ 1,763,550,000		$ 1,763,550,000		$ 1,763,550,000
Senior Secured Credit Facilities | Term Loan
Debt Instrument [Line Items]
Debt issuance costs				2,400,000		2,400,000		2,700,000
Debt discount				15,600,000		15,600,000		17,300,000
Term loan, due 2026 | Term Loan
Debt Instrument [Line Items]
Total long-term debt				$ 1,763,100,000		$ 1,763,100,000		1,763,100,000
Weighted average interest rate				3.53%	3.25%	3.39%	3.64%
Effective reduction in current interest rates		2.25%
Term loan, due 2026 | Term Loan | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate		2.75%	4.50%
LIBOR floor		0.50%	1%
Write-off of unamortized debt issuance costs and debt discounts		$ 11,300,000
Additional expense		$ 2,900,000
First Lien Notes due 2026 | Secured Debt
Debt Instrument [Line Items]
Weighted average interest rate						7%
LIBOR floor									1%
First Lien Notes due 2026 | Secured Debt | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	2.75%					6%
First Lien Notes due 2026 | Secured Debt | Alternative Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate	1.75%
First Lien Notes due 2026 | Secured Debt | Eurodollar | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	3.50%
First Lien Notes due 2026 | Secured Debt | Eurodollar | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	4%
Revolving Credit Facility | Senior Secured Credit Facilities
Debt Instrument [Line Items]
Maximum borrowing capacity										$ 347,500,000
Debt outstanding								$ 0
Letters of credit outstanding, amount				$ 70,100,000		$ 70,100,000
Unused borrowing capacity				$ 277,400,000		$ 277,400,000
Revolving Credit Facility | Senior Secured Credit Facilities | Alternative Base Rate | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	2.50%
Revolving Credit Facility | Senior Secured Credit Facilities | Alternative Base Rate | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	3%

Long-Term Debt - First Lien Not

Long-Term Debt - First Lien Notes (Details) - Secured Debt - First Lien Notes due 2026 - USD ($)			6 Months Ended
	Mar. 26, 2021	Jul. 31, 2020	Jun. 30, 2022
Debt Instrument [Line Items]
Face amount		$ 100,000,000
Redemption premium		3,000,000
Write off of deferred debt issuance cost		$ 3,400,000
LIBOR floor		1%
Weighted average interest rate			7%
LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	2.75%		6%

Long-Term Debt - Aggregate Matu

Long-Term Debt - Aggregate Maturities (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
2022	$ 0
2023	450
2024	0
2025	0
2026	1,763,100
Thereafter	0
Total	$ 1,763,550	$ 1,763,550

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Effective income tax rate	36.80%	31%	34.60%	29.30%

Employee Benefits - Net Periodi

Employee Benefits - Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Defined benefit pension plan
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 247	$ 307	$ 496	$ 605
Interest cost	1,889	1,662	3,792	3,275
Expected return on plan assets	(3,676)	(3,665)	(7,380)	(7,222)
Amortization of net actuarial (gain) loss	0	275	0	542
Net periodic benefit cost	(1,540)	(1,421)	(3,092)	(2,800)
Other benefits plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	4	7	8	14
Interest cost	65	61	130	120
Amortization of net actuarial (gain) loss	(2)	9	(4)	17
Net periodic benefit cost	$ 67	$ 77	$ 134	$ 151

Employee Benefits - Additional

Employee Benefits - Additional Information (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Postemployment Benefits [Abstract]
Expect funding requirements in each of the next five years	$ 3.1
Defined benefit pension plan
Defined Benefit Plan Disclosure [Line Items]
Letters of credit outstanding, amount	$ 46.9	$ 46.2
Defined benefit pension plan | Maximum
Defined Benefit Plan Disclosure [Line Items]
Solvency payment as percent of market value	15%

Other Comprehensive Income (L_3

Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ 642,130	$ 465,744	$ 586,096	$ 454,574
Ending balance	636,000	523,271	636,000	523,271
Defined Benefit Plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(17,855)	(44,392)	(17,581)	(44,143)
Other comprehensive income (loss) before reclassifications	534	(705)	262	(1,229)
Amounts reclassified from accumulated other comprehensive income (loss)	(2)	284	(4)	559
Net current-period other comprehensive income (loss)	532	(421)	258	(670)
Ending balance	(17,323)	(44,813)	(17,323)	(44,813)
Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(51,414)	(52,770)	(66,389)	(49,699)
Other comprehensive income (loss) before reclassifications	(46,038)	20,115	(31,063)	17,044
Amounts reclassified from accumulated other comprehensive income (loss)	0	0	0	0
Net current-period other comprehensive income (loss)	(46,038)	20,115	(31,063)	17,044
Ending balance	(97,452)	(32,655)	(97,452)	(32,655)
Interest Rate Derivatives
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	6,583	0	404	0
Other comprehensive income (loss) before reclassifications	3,178	0	9,357	0
Amounts reclassified from accumulated other comprehensive income (loss)	0	0	0	0
Net current-period other comprehensive income (loss)	3,178	0	9,357	0
Ending balance	9,761	0	9,761	0
Total
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(62,686)	(97,162)	(83,566)	(93,842)
Other comprehensive income (loss) before reclassifications	(42,326)	19,410	(21,444)	15,815
Amounts reclassified from accumulated other comprehensive income (loss)	(2)	284	(4)	559
Net current-period other comprehensive income (loss)	(42,328)	19,694	(21,448)	16,374
Ending balance	$ (105,014)	$ (77,468)	$ (105,014)	$ (77,468)

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
2020 Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 5.3	$ 2.8	$ 9.2	$ 5.6
Restricted Stock | Pre-IPO B-1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			5 years
Share-based compensation expense	0.5	0.7	$ 1.1	1.3
Restricted Stock | Pre-IPO B-1 | Year One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			20%
Restricted Stock | Pre-IPO B-1 | Year Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			20%
Restricted Stock | Pre-IPO B-1 | Year Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			20%
Restricted Stock | Pre-IPO B-1 | Year Four
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			20%
Restricted Stock | Pre-IPO B-1 | Year Five
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			20%
Restricted Stock | Pre-IPO B-2 | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Return on investment			250%
Investment, Internal Rate Of Return			20%
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contractual term			10 years
Stock Options | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
Stock Options | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			4 years
Stock Options | 2020 Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	2.2	1.3	$ 3.7	2.5
RSUs | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			1 year
RSUs | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			4 years
RSUs | 2020 Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 3.1	$ 1.5	$ 5.5	$ 3.1

Share-Based Compensation - Pre-

Share-Based Compensation - Pre-IPO Awards (Class B-1 and B-2) (Details) - Restricted Stock	6 Months Ended
	Jun. 30, 2022 shares
Pre-IPO B-1
Number of Shares
Beginning balance (in shares)	1,206,089
Forfeited (in shares)	(32,614)
Vested (in shares)	(251,639)
Ending balance (in shares)	921,836
Pre-IPO B-2
Number of Shares
Beginning balance (in shares)	2,023,959
Forfeited (in shares)	(136,252)
Vested (in shares)	0
Ending balance (in shares)	1,887,707

Share-Based Compensation - Stoc

Share-Based Compensation - Stock Options (Details)	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Number of Shares
Beginning balance (in shares)	2,423,256
Granted (in shares)	1,416,967
Forfeited (in shares)	(61,393)
Exercised (in shares)	0
Ending balance (in shares)	3,778,830
Weighted-average Exercise Price
Beginning balance (in shares) | $ / shares	$ 23.02
Granted (in dollars per share) | $ / shares	20.03
Forfeited (in dollars per share) | $ / shares	22.78
Exercised (in dollars per share) | $ / shares	0
Ending balance (in shares) | $ / shares	$ 21.90
Options vested (in shares)	600,000
Options exercisable (in shares)	600,000

Share-Based Compensation - RSUs

Share-Based Compensation - RSUs (Details) - RSUs	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Number of Shares
Beginning balance (in shares) | shares	640,122
Granted (in shares) | shares	923,137
Forfeited (in shares) | shares	(37,499)
Vested (in shares) | shares	(88,459)
Ending balance (in shares) | shares	1,437,301
Weighted-average Grant Date Fair Value
Beginning balance (in dollars per share) | $ / shares	$ 23.19
Granted (in dollars per share) | $ / shares	20.70
Forfeited (in dollars per share) | $ / shares	22.68
Vested (in dollars per share) | $ / shares	24.13
Ending balance (in dollars per share) | $ / shares	$ 21.55

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Earnings:
Net income	$ 30,418	$ 42,615	$ 61,059	$ 53,680
Less: Net income attributable to noncontrolling interests	0	16	0	239
Less: Allocation to participating securities	308	574	645	746
Less: Allocation to participating securities	308	574	645	746
Net income attributable to Sotera Health Company common shareholders	30,110	42,025	60,414	52,695
Net income attributable to Sotera Health Company common shareholders	$ 30,110	$ 42,025	$ 60,414	$ 52,695
Weighted Average Common Shares:
Weighted-average common shares outstanding - basic (in shares)	279,990	279,078	279,910	278,953
Dilutive effect of potential common shares (in shares)	181	136	128	125
Weighted-average common shares outstanding - diluted (in shares)	280,171	279,214	280,038	279,078
Earnings per Common Share:
Net income per common share attributable to Sotera Health Company common shareholders - basic (in dollars per share)	$ 0.11	$ 0.15	$ 0.22	$ 0.19
Net income per common share attributable to Sotera Health Company common shareholders - diluted (in dollars per share)	$ 0.11	$ 0.15	$ 0.22	$ 0.19
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	3,791	2,408	3,354	2,408
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	3,780	2,404	3,337	2,404
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	11	4	17	4

Commitment and Contingencies (D

Commitment and Contingencies (Details) $ in Millions		6 Months Ended	31 Months Ended
	Aug. 17, 2020 plaintiff	Jun. 30, 2022 USD ($)	Mar. 31, 2021 plaintiff
Gain Contingencies [Line Items]
Loss contingency, insurance limits per occurrence		$ 10
Loss contingency, insurance limits		20
Ethylene Oxide Tort Litigation - Illinois | Pending Litigation
Gain Contingencies [Line Items]
Number of plaintiffs | plaintiff			780
Ethylene Oxide Tort Litigation – Georgia | Pending Litigation
Gain Contingencies [Line Items]
Number of plaintiffs | plaintiff	300
Loss contingency, insurance limits		10
Loss contingency, utilized limits		$ 6

Financial Instruments and Fin_3

Financial Instruments and Financial Risk - Additional Information (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	May 31, 2022 USD ($) instrument	Dec. 31, 2021 USD ($)	Oct. 31, 2021 USD ($) instrument	Feb. 28, 2021 USD ($) instrument	Jun. 30, 2020 USD ($) instrument
Derivative [Line Items]
Derivative loss, net of tax recognized in accumulated other comprehensive income (loss)	$ 3,178,000	$ 0	$ 9,357,000	$ 0
Allowance for uncollectible accounts	1,816,000		1,816,000			$ 1,287,000
Foreign Currency Forward Contracts
Derivative [Line Items]
Fair value of outstanding contracts	0		0			0
Derivatives Designated in Hedge Relationships
Derivative [Line Items]
Derivative loss, net of tax recognized in accumulated other comprehensive income (loss)			12,500,000
Derivatives Designated in Hedge Relationships | Interest Rate Cap
Derivative [Line Items]
Number of instruments held | instrument					2		2
Notional amount	2,000,000,000		2,000,000,000		$ 1,000,000,000	1,000,000,000	$ 1,000,000,000
Option premium					$ 4,100,000		$ 1,800,000
Percent of borrowing limitation due to cash flow exposure					3.50%		1%
Derivatives Not Designated in Hedge Relationships
Derivative [Line Items]
Notional amount	3,190,700,000		3,190,700,000			2,644,400,000
Derivatives Not Designated in Hedge Relationships | Interest Rate Cap
Derivative [Line Items]
Number of instruments held | instrument								2
Notional amount	$ 1,000,000,000		$ 1,000,000,000			$ 1,500,000,000		$ 1,000,000,000	$ 1,000,000,000
Option premium								$ 400,000	$ 300,000
Percent of borrowing limitation due to cash flow exposure								0.50%
Derivatives Not Designated in Hedge Relationships | Interest Rate Cap | LIBOR
Derivative [Line Items]
Variable rate									1%
Derivatives Not Designated in Hedge Relationships | Interest Rate Swap
Derivative [Line Items]
Notional amount									$ 500,000,000
Derivatives Not Designated in Hedge Relationships | Interest Rate Cap June 2020
Derivative [Line Items]
Number of instruments held | instrument									2
Derivatives Not Designated in Hedge Relationships | Interest Rate Cap February 2021
Derivative [Line Items]
Number of instruments amended | instrument								2

Financial Instruments and Fin_4

Financial Instruments and Financial Risk - Derivative Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2022	May 31, 2022	Dec. 31, 2021	Oct. 31, 2021	Feb. 28, 2021	Jun. 30, 2020
Derivatives Designated in Hedge Relationships | Interest Rate Cap
Derivative [Line Items]
Notional Amount	$ 2,000,000	$ 1,000,000	$ 1,000,000	$ 1,000,000
Fair Value, Derivative Asset	19,144		2,322
Fair Value, Derivative Liabilities	0		0
Derivatives Not Designated in Hedge Relationships
Derivative [Line Items]
Notional Amount	3,190,700		2,644,400
Fair Value, Derivative Asset	31,633		4,472
Fair Value, Derivative Liabilities	2,322		0
Derivatives Not Designated in Hedge Relationships | Interest Rate Cap
Derivative [Line Items]
Notional Amount	1,000,000		1,500,000		$ 1,000,000	$ 1,000,000
Fair Value, Derivative Asset	11,100		1,654
Fair Value, Derivative Liabilities	0		0
Derivatives Not Designated in Hedge Relationships | Embedded Derivative
Derivative [Line Items]
Notional Amount	190,700		144,400
Fair Value, Derivative Asset	1,389		496
Fair Value, Derivative Liabilities	$ 2,322		$ 0

Financial Instruments and Fin_5

Financial Instruments and Financial Risk - Activities of Derivative Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized gain on interest rate derivatives recorded in other comprehensive income (loss), net of tax	$ 3,178	$ 0	$ 9,357	$ 0
Interest Rate Cap
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized loss (gain)	(3,100)	293	(9,446)	383
Realized (gain) loss	(1,279)	0	(1,279)	0
Embedded Derivative
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized loss (gain)	2,435	(761)	1,417	(1,614)
Foreign Currency Forward Contracts
Derivative Instruments, Gain (Loss) [Line Items]
Realized (gain) loss	$ 1,035	$ 231	$ (495)	$ (2,143)

Financial Instruments and Fin_6

Financial Instruments and Financial Risk - Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Derivatives Designated in Hedge Relationships | Interest Rate Cap
Derivative [Line Items]
Derivative asset	$ 19,144	$ 2,322
Derivative liabilities	0	0
Derivatives Designated in Hedge Relationships | Interest Rate Cap | Level 1
Derivative [Line Items]
Derivative asset	0	0
Derivatives Designated in Hedge Relationships | Interest Rate Cap | Level 2
Derivative [Line Items]
Derivative asset	19,144	2,322
Derivatives Designated in Hedge Relationships | Interest Rate Cap | Level 3
Derivative [Line Items]
Derivative asset	0	0
Derivatives Designated in Hedge Relationships | Carrying Amount | Interest Rate Cap
Derivative [Line Items]
Derivative asset	19,144	2,322
Derivatives Not Designated in Hedge Relationships
Derivative [Line Items]
Derivative asset	31,633	4,472
Derivative liabilities	2,322	0
Derivatives Not Designated in Hedge Relationships | Term loan, due 2026 | Level 1
Derivative [Line Items]
Long-term debt	0	0
Derivatives Not Designated in Hedge Relationships | Term loan, due 2026 | Level 2
Derivative [Line Items]
Long-term debt	1,679,353	1,754,285
Derivatives Not Designated in Hedge Relationships | Term loan, due 2026 | Level 3
Derivative [Line Items]
Long-term debt	0	0
Derivatives Not Designated in Hedge Relationships | Other long-term debt | Level 1
Derivative [Line Items]
Long-term debt	0	0
Derivatives Not Designated in Hedge Relationships | Other long-term debt | Level 2
Derivative [Line Items]
Long-term debt	446	444
Derivatives Not Designated in Hedge Relationships | Other long-term debt | Level 3
Derivative [Line Items]
Long-term debt	0	0
Derivatives Not Designated in Hedge Relationships | Finance Lease Obligations (with current portion) | Level 1
Derivative [Line Items]
Long-term debt	0	0
Derivatives Not Designated in Hedge Relationships | Finance Lease Obligations (with current portion) | Level 2
Derivative [Line Items]
Long-term debt	58,755	42,037
Derivatives Not Designated in Hedge Relationships | Finance Lease Obligations (with current portion) | Level 3
Derivative [Line Items]
Long-term debt	0	0
Derivatives Not Designated in Hedge Relationships | Interest Rate Cap
Derivative [Line Items]
Derivative asset	11,100	1,654
Derivative liabilities	0	0
Derivatives Not Designated in Hedge Relationships | Interest Rate Cap | Level 1
Derivative [Line Items]
Derivative asset	0	0
Derivatives Not Designated in Hedge Relationships | Interest Rate Cap | Level 2
Derivative [Line Items]
Derivative asset	11,100	1,654
Derivatives Not Designated in Hedge Relationships | Interest Rate Cap | Level 3
Derivative [Line Items]
Derivative asset	0	0
Derivatives Not Designated in Hedge Relationships | Embedded Derivative
Derivative [Line Items]
Derivative asset	1,389	496
Derivative liabilities	2,322	0
Derivatives Not Designated in Hedge Relationships | Embedded Derivative | Level 1
Derivative [Line Items]
Derivative asset	0
Derivative liabilities	0	0
Derivatives Not Designated in Hedge Relationships | Embedded Derivative | Level 2
Derivative [Line Items]
Derivative asset	1,389
Derivative liabilities	2,322	496
Derivatives Not Designated in Hedge Relationships | Embedded Derivative | Level 3
Derivative [Line Items]
Derivative asset	0
Derivative liabilities	0	0
Derivatives Not Designated in Hedge Relationships | Carrying Amount | Term loan, due 2026
Derivative [Line Items]
Long-term debt	1,745,102	1,743,090
Derivatives Not Designated in Hedge Relationships | Carrying Amount | Other long-term debt
Derivative [Line Items]
Long-term debt	446	444
Derivatives Not Designated in Hedge Relationships | Carrying Amount | Finance Lease Obligations (with current portion)
Derivative [Line Items]
Long-term debt	58,755	42,037
Derivatives Not Designated in Hedge Relationships | Carrying Amount | Interest Rate Cap
Derivative [Line Items]
Derivative asset	11,100	1,654
Derivatives Not Designated in Hedge Relationships | Carrying Amount | Embedded Derivative
Derivative [Line Items]
Derivative asset	1,389
Derivative liabilities	$ 2,322	$ 496

Segment Information - Additiona

Segment Information - Additional Information (Details) - segment	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting [Abstract]
Number of reportable segments			3
Operating Segments | Nordion | Revenue from Contract with Customer Benchmark | Customer Concentration Risk | Customer One
Segment Reporting Information [Line Items]
Percentage	21.70%	17.90%	18.80%	14.80%
Operating Segments | Nordion | Revenue from Contract with Customer Benchmark | Customer Concentration Risk | Customer Two
Segment Reporting Information [Line Items]
Percentage	15.40%	16.10%	15.50%	13.10%
Operating Segments | Nordion | Revenue from Contract with Customer Benchmark | Customer Concentration Risk | Customer Three
Segment Reporting Information [Line Items]
Percentage	13.20%		12.80%	12.60%
Operating Segments | Nordion | Revenue from Contract with Customer Benchmark | Customer Concentration Risk | Customer Four
Segment Reporting Information [Line Items]
Percentage	15.90%		10.60%	10.50%

Segment Information - Segment O

Segment Information - Segment Operating Results (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Information [Line Items]
Segment revenues	$ 266,639	$ 251,917	$ 503,393	$ 464,065
Total capital expenditures			71,642	44,789
Sterigenics
Segment Reporting Information [Line Items]
Segment revenues	157,792	145,182	307,254	276,333
Total capital expenditures			55,065	35,851
Nordion
Segment Reporting Information [Line Items]
Segment revenues	50,478	49,125	84,480	75,043
Total capital expenditures			10,741	6,376
Nelson Labs
Segment Reporting Information [Line Items]
Segment revenues	58,369	57,610	111,659	112,689
Total capital expenditures			5,836	2,562
Operating Segments
Segment Reporting Information [Line Items]
Segment revenues	266,639	251,917	503,393	464,065
Segment income	136,135	134,563	251,484	239,880
Operating Segments | Sterigenics
Segment Reporting Information [Line Items]
Segment revenues	157,792	145,182	307,254	276,333
Segment income	85,098	79,569	164,501	148,030
Operating Segments | Nordion
Segment Reporting Information [Line Items]
Segment revenues	50,478	49,125	84,480	75,043
Segment income	29,982	31,168	48,885	44,954
Operating Segments | Nelson Labs
Segment Reporting Information [Line Items]
Segment revenues	58,369	57,610	111,659	112,689
Segment income	21,055	23,826	38,098	46,896
Intersegment
Segment Reporting Information [Line Items]
Segment revenues	$ (15,800)	$ (7,000)	$ (31,300)	$ (17,500)

Segment Information - Reconcili

Segment Information - Reconciliation of Reportable Segment Amounts (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Information [Line Items]
Share-based compensation expense			$ 10,339	$ 6,942
Impairment of investment in unconsolidated affiliate	$ 9,613	$ 0	9,613	0
Loss on extinguishment of debt	0	0	0	14,312
Accretion of asset retirement obligations			1,118	1,153
Net income attributable to Sotera Health Company	30,418	42,599	61,059	53,441
Interest Rate Cap
Segment Reporting Information [Line Items]
Unrealized loss (gain)	(3,100)	293	(9,446)	383
Interest Rate Cap | Interest Expense, Net
Segment Reporting Information [Line Items]
Unrealized loss (gain)	(3,100)		(9,400)
Operating Segments
Segment Reporting Information [Line Items]
Segment income	136,135	134,563	251,484	239,880
Segment Reconciling Items
Segment Reporting Information [Line Items]
Interest expense, net	17,144	19,163	33,894	40,445
Depreciation and amortization	36,939	37,461	72,988	75,122
Share-based compensation expense	5,801	3,493	10,339	6,942
Gain on foreign currency and derivatives not designated as hedging instruments, net	(1,430)	(660)	(7,982)	(996)
Acquisition and divestiture related charges, net	691	844	531	659
Business optimization project expenses	470	275	574	536
Plant closure expenses	478	756	1,149	1,298
Loss on extinguishment of debt	0	0	0	14,312
Professional services relating to EO sterilization facilities	17,678	10,644	35,737	24,043
Accretion of asset retirement obligations	598	602	1,118	1,153
COVID-19 expenses	45	188	148	487
Net income attributable to Sotera Health Company	$ 48,108	$ 61,797	$ 93,375	$ 75,879