Restructuring, strategic transaction and integration expenses were $21.3 million and $38.1 million for the three and six months ended June 30, 2026, respectively, as compared to $16.2 million and $32.9 million for the three and six months ended June 30, 2025, respectively.

During the three and six months ended June 30, 2026, restructuring charges were $13.0 million and $19.9 million, respectively, as compared to $8.2 million and $15.0 million for the three and six months ended June 30, 2025, respectively, and were primarily related to facility closure costs and severance costs.

The following table summarizes the activity in our restructuring-related accrual by major type of cost for the three and six months ended June 30, 2026 (in thousands), which is included in accrued liabilities and other long-term liabilities on the condensed consolidated balance sheets:


	Employee & Related Costs		Facility & Other Closure Costs		Total
Accrued balance, January 1, 2026	$	6,411	$	5,737	$	12,148

Charges incurred	2,233		4,663		6,896
Payments	(6,816)		(6,613)		(13,429)

Currency translation	(68)		(19)		(87)
Accrued balance, March 31, 2026	$	1,760	$	3,768	$	5,528
Charges incurred	1,848		5,356		7,204
Payments	(2,625)		(4,275)		(6,900)

Currency translation	9		(32)		(23)

Accrued balance, June 30, 2026	$	992	$	4,817	$	5,809

The table above excludes $5.8 million of non-cash impairment charges related to operating lease right-of-use assets and property, plant and equipment, recorded in connection with the early exit of certain facilities, that were classified to restructuring, strategic transaction and integration expense.

We incurred and expensed $8.3 million and $18.2 million in strategic transaction and integration expenses during the three and six months ended June 30, 2026, respectively, as compared to $8.0 million and $17.9 million in strategic transaction and integration expenses during the three and six months ended June 30, 2025, respectively, which are included in restructuring, strategic transaction and integration expenses in our condensed consolidated statements of operations. The strategic transaction and integration expenses during the three and six months ended June 30, 2026 and 2025 were primarily related to ongoing consulting expenses, employee costs and costs from certain facility consolidations incurred to integrate our Smiths Medical business acquired in 2022. For the three and six months ended June 30, 2025, transaction costs also included expenses related to the sale of a 60% ownership in our IV Solutions business that was completed during the second quarter of 2025.