v3.26.1
Restructuring charges, separation costs and impairment charges
 6 Months Ended
Jun. 30, 2026
Restructuring and Related Activities [Abstract]  
Restructuring charges, separation costs and impairment charges Restructuring charges, separation costs and impairment charges
Restructuring charges recognized for the three and six months ended June 30, 2026 and June 29, 2025 consisted of the following:
Three Months Ended June 30, 2026
Termination Benefits
Other Costs (1)
Total
Strategic Divestitures restructuring plan$219 $— $219 
VI Business integration plan4 (1)3 
Other restructuring programs (2)
— 24 24 
Restructuring charges$223 $23 $246 
Three Months Ended June 29, 2025
Termination Benefits
Other Costs (1)
Total
2024 Footprint realignment plan$1,066 $54 $1,120 
2023 Footprint realignment plan87 — 87 
Other restructuring programs (2)
35 11 46 
Restructuring charges1,188 65 1,253 
Asset impairment charges (3)
— 8,117 8,117 
Separation costs (4)
— 1,330 1,330 
Restructuring charges, separation costs and impairment charges$1,188 $9,512 $10,700 
Six Months Ended June 30, 2026
Termination Benefits
Other Costs (1)
Total
Strategic Divestitures restructuring plan$17,288 $— $17,288 
VI Business integration plan(252)2 (250)
Other restructuring programs (2)
(26)79 53 
Restructuring charges$17,010 $81 $17,091 
Six Months Ended June 29, 2025
Termination Benefits
Other Costs (1)
Total
2024 Footprint realignment plan$2,131 $92 $2,223 
2023 Footprint realignment plan330 2 332 
Other restructuring programs (2)
82 38 120 
Restructuring charges2,543 132 2,675 
Asset impairment charges (3)
— 8,117 8,117 
Separation costs (4)
— 1,330 1,330 
Restructuring charges, separation costs and other impairment charges$2,543 $9,579 $12,122 
(1) Other costs include facility closure, contract termination and other exit costs.
(2) Primarily includes activity related to restructuring plans substantially completed in prior periods.
(3) For the three and six months ended June 29, 2025, we recognized impairment charges primarily related to our cessation of occupancy at certain leased facilities.
(4) Represents indirect expenses related to the Strategic Divestitures, including activities to prepare the businesses for divestiture and maintain continuity through the separation process.
Restructuring charges
Strategic Divestitures restructuring plan
During the first quarter of 2026, in connection with the Strategic Divestitures, we initiated a multi-year restructuring plan intended to align our global organizational structure and supply chain infrastructure amongst our remaining businesses (the "Strategic Divestitures restructuring plan"). The plan is designed to eliminate stranded costs, streamline global operations, and improve our long-term cost structure, primarily through workforce reductions and capital assets rationalization. These actions, some of which we expect to occur upon exit of the transition services agreements and other arrangements negotiated in connection with the Strategic Divestitures, are expected to be substantially completed by mid-2028. The following table provides a summary of our estimates of restructuring and restructuring related charges by major type of expense associated with the Strategic Divestitures restructuring plan:
Strategic Divestitures restructuring plan
Plan expense estimates:(Dollars in millions)
Restructuring charges (1)
$15 million to $18 million
Restructuring related charges (2)
$16 million to $19 million
Total restructuring and restructuring related charges
$31 million to $37 million
(1)Substantially all of the charges consist of employee termination benefit costs.
(2)Restructuring related charges represent costs that are directly related to the plan and primarily include expenses related to a lease termination and retention incentives necessary to support critical functions during the transition period. Most of the charges are expected to be recognized within selling, general and administrative costs.
We expect the majority of the restructuring and restructuring related charges to result in future cash outlays, of which an estimated $15.0 million to $19.0 million are expected to occur during 2026.
For the three and six months ended June 30, 2026, we incurred $8.7 million and $16.3 million, respectively, under the Strategic Divestitures restructuring plan in restructuring related charges, all of which were recognized in selling, general and administrative costs.
As of June 30, 2026, we had a restructuring reserve of $15.7 million related to this plan, all of which related to termination benefits.
VI Business integration plan
During the fourth quarter of 2025, we initiated the "VI Business integration plan," a restructuring plan related to the integration of the VI Business into Teleflex. The plan encompasses the realignment of the global sales force and certain administrative functions, including workforce reductions, and the relocation of certain manufacturing operations to existing lower-cost locations. These actions are expected to be substantially completed by the end of 2028. The following table provides a summary of our estimates of restructuring and restructuring related charges by major type of expense associated with the VI Business integration plan:
VI Business integration plan
Plan expense estimates:(Dollars in millions)
Restructuring charges (1)
$26 million to $31 million
Restructuring related charges (2)
$10 million to $13 million
Total restructuring and restructuring related charges
$36 million to $44 million
(1)Substantially all of the charges consist of employee termination benefit costs.
(2)Restructuring related charges represent costs that are directly related to the program and principally constitute costs to transfer manufacturing operations to existing lower-cost locations and project management costs. The majority of these charges are expected to be recognized within cost of goods sold.
We expect all the restructuring and restructuring related charges will result in future cash outlays. Additionally, we expect to incur $5.0 million to $7.0 million in aggregate capital expenditures under the VI Business integration plan.
For the three and six months ended June 30, 2026, we incurred $0.4 million and $1.1 million, respectively, under the VI Business integration plan in restructuring related charges, most of which were recognized in cost of goods sold. As of June 30, 2026, we have incurred aggregate restructuring charges in connection with the VI Business integration plan of $21.0 million. In addition, as of June 30, 2026, we have incurred aggregate restructuring related charges of $1.4 million with respect to the VI Business integration plan, consisting of certain costs that principally resulted from the transfer of manufacturing operations to new locations.
As of June 30, 2026, we had a restructuring reserve of $15.0 million related to this plan, all of which related to termination benefits.
2023 Footprint realignment plan
In 2023, we initiated the "2023 Footprint realignment plan," a restructuring plan primarily involving the relocation of certain manufacturing operations to existing lower-cost locations, the outsourcing of certain manufacturing processes and related workforce reductions. These actions are expected to be substantially completed by the end of 2027. The following table provides a summary of the cost estimates by major type of expense associated with the 2023 Footprint realignment plan:
2023 Footprint realignment plan
Plan expense estimates:(Dollars in millions)
Restructuring charges (1)
$2 million to $3 million
Restructuring related charges (2)
$7 million to $9 million
Total restructuring and restructuring related charges
$9 million to $12 million
(1)Substantially all of the charges consist of employee termination benefit costs.
(2)Restructuring related charges represent costs that are directly related to the program and principally constitute costs to transfer manufacturing operations to existing lower-cost locations and project management costs. Substantially all of these charges are expected to be recognized within cost of goods sold.
We expect all the restructuring and restructuring related charges will result in future cash outlays. Additionally, we expect to incur $2.0 million to $3.0 million in aggregate capital expenditures under the plan.
For the three and six months ended June 30, 2026, we incurred $0.6 million and $1.1 million, respectively, under the 2023 Footprint realignment plan in restructuring related charges, all of which were recognized in cost of goods sold. As of June 30, 2026, we have incurred aggregate restructuring charges in connection with the 2023 Footprint realignment plan of $3.0 million. In addition, as of June 30, 2026, we have incurred aggregate restructuring related charges of $6.5 million with respect to the 2023 Footprint realignment plan, consisting of certain costs that principally resulted from the transfer of manufacturing operations to new locations.
As of June 30, 2026, we had a restructuring reserve of $2.0 million related to this plan, all of which related to termination benefits.