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Restructuring And Other Impairment Charges | 6 Months Ended
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Jul. 01, 2012
Restructuring And Other Impairment Charges | Note 4—Restructuring and other impairment charges The amounts recognized in restructuring and other impairment charges for the three and six months ended July 1, 2012 and June 26, 2011 consisted of the following:
|  | Three Months Ended |  |  | Six Months Ended |
|  | July 1, 2012 |  |  | June 26, 2011 |  |  | July 1, 2012 |  |  | June 26, 2011 |
|  | (Dollars in thousands) |
2012 restructuring charges |  | $ | 265 |  |  | $ | — |  |  | $ | 871 |  |  | $ | — |
2007 Arrow integration program |  |  | 56 |  |  |  | 115 |  |  |  | (1,875 | ) |  |  | 710 |
Impairment charges |  |  | — |  |  |  | 3,061 |  |  |  | — |  |  |  | 3,061 |
Restructuring and other impairment charges |  | $ | 321 |  |  | $ | 3,176 |  |  | $ | (1,004 | ) |  | $ | 3,771 |
2012 Restructuring Charges During the three and six months ended July 1, 2012, the Company incurred restructuring charges of $0.3 million and $0.9 million, respectively, related to the termination of certain distributor agreements in Europe and a redesign of operations at our North America plants. 2011 Restructuring Program During 2011, the Company initiated a restructuring program at three facilities to consolidate operations and reduce costs. During the six months ended July 1, 2012, no costs have been incurred related to this program. The Company expects to incur additional contract termination costs of approximately $2.7 million when it has completely exited a leased facility. All of the employee termination benefits will be paid in 2012. The payment of the lease contract termination costs will continue until 2015. 2007 Arrow Integration Program In connection with the Company’s acquisition of Arrow International, Inc. (“Arrow”), the Company implemented a program in 2007 to integrate Arrow’s businesses into the Company’s other businesses. The aspects of this program that affect Teleflex employees and facilities (such aspects being referred to as the “2007 Arrow integration program”) are charged to earnings and classified as restructuring and impairment charges. The following table provides information relating to the charges associated with the 2007 Arrow integration program that were included in restructuring and other impairment charges in the condensed consolidated statements of income for the periods presented:
|  | Three Months Ended |  |  | Six Months Ended |
|  | July 1, 2012 |  |  | June 26, 2011 |  |  | July 1, 2012 |  |  | June 26, 2011 |
|  | (Dollars in thousands) |
Termination benefits |  | $ | — |  |  | $ | 4 |  |  | $ | — |  |  | $ | 11 |
Facility closure costs |  |  | 56 |  |  |  | (76 | ) |  |  | 148 |  |  |  | 74 |
Contract termination costs |  |  | — |  |  |  | 187 |  |  |  | (2,023 | ) |  |  | 625 |
|  | $ | 56 |  |  | $ | 115 |  |  | $ | (1,875 | ) |  | $ | 710 |
No impairment charges were recognized during the three and six month periods ended July 1, 2012 and June 26, 2011. The following table provides information relating to changes in the accrued liability associated with the 2007 Arrow integration program during the six months ended July 1, 2012:
|  | Balance at December 31, 2011 |  |  | Subsequent Accruals |  |  | Payments |  |  | Translation |  |  | Balance at July 1, 2012 |
|  | (Dollars in thousands) |
Termination benefits |  | $ | 320 |  |  | $ | — |  |  | $ | (5 | ) |  | $ | (13 | ) |  | $ | 302 |
Facility closure costs |  |  | — |  |  |  | 148 |  |  |  | (148 | ) |  |  | — |  |  |  | — |
Contract termination costs |  |  | 2,133 |  |  |  | (2,023 | ) |  |  | — |  |  |  | (6 | ) |  |  | 104 |
Other restructuring costs |  |  | 21 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 21 |
|  | $ | 2,474 |  |  | $ | (1,875 | ) |  | $ | (153 | ) |  | $ | (19 | ) |  | $ | 427 |
The reduction in the accrual for contract termination costs relates to a revised estimate for the settlement of a dispute involving the termination of a European distributor agreement that was established in connection with the acquisition of Arrow in 2007. As of July 1, 2012, the Company expects future restructuring expenses associated with the 2007 Arrow integration program, if any, to be nominal. Impairment Charges During the second quarter of 2011, the Company recognized impairment charges of $3.1 million related to the decline in value of its investments in affiliates that are considered to be other than temporary. In making this determination, the Company considered multiple factors, including its intent and ability to hold investments, operating losses of investees that demonstrate an inability to recover the carrying value of the investments, the investee’s liquidity and cash position and level of market acceptance of the investee’s products and services.

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- Definition The entire disclosure for aggregate costs incurred during the period for restructuring, remediation, implementation, integration and asset impairment activities. Description of restructuring activities such as exit and disposal activities, could include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. This would also include disclosure of the charge against earnings resulting from the aggregate write down of all assets from their carrying value to their fair value. + References No definition available. + Details
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