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Restructuring and impairment charges | 3 Months Ended
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Apr. 02, 2023
Restructuring and Related Activities [Abstract] |
Restructuring and impairment charges | Restructuring and impairment chargesWe have ongoing restructuring initiatives consisting of a strategic restructuring plan designed to improve operating performance and position the organization to deliver long-term durable growth by creating efficiencies that align with our high growth strategic objectives (the “2022 restructuring plan”) and a plan, initiated in connection with the Respiratory business divestiture designed to separate the manufacturing operations to be transferred to Medline from those that will remain with Teleflex (the “Respiratory divestiture plan”). The following tables provide a summary of our cost estimates and other information associated with these plans:
| 2022 restructuring plan |  | Respiratory divestiture plan |  |
Plan expense estimates: | (Dollars in millions)
Termination benefits | $18 to $22 |  | $5 to $8 |  |
Other costs (1) | 1 to 1 |  | — to — |  |
Restructuring charges | 19 to 23 |  | 5 to 8 |  |
Restructuring related charges (2) | 20 to 25 |  | 19 to 22 |  |
Total restructuring and restructuring related charges | $39 to $48 |  | $24 to $30 |  |
Other plan estimates: |  |  |  |  |
Expected cash outlays | $26 to $32 |  | $24 to $30 |  |
Expected capital expenditures | $2 to $2 |  | $22 to $28 |  |
Other plan information: |  |  |  |  |
Period initiated | November 2022 |  | May 2021 |  |
Estimated period of substantial completion | 2023 |  | 2023 |  |
Aggregate restructuring charges | $17.7 |  | $3.4 |  |
Restructuring reserve: |  |  |  |  |
Balance as of April 2, 2023 | $12.6 |  | $3.3 |  |
Restructuring related charges incurred: |  |  |  |  |
Three Months Ended April 2, 2023 | $4.4 |  | $2.1 |  |
Aggregate restructuring related charges | $14.5 |  | $14.3 |  |
(1)Includes facility closure, employee relocation, equipment relocation and outplacement costs. (2)Restructuring related charges represent costs that are directly related to the plans and principally constitute costs to transfer manufacturing operations to the existing lower-cost locations, project management costs and accelerated depreciation. Substantially all of the restructuring related charges are expected to be recognized within cost of goods sold. Restructuring and impairment charges recognized for the three months ended April 2, 2023 and March 27, 2022 consisted of the following:
Three Months Ended April 2, 2023 |  |  |  |  |
| Termination Benefits |  | Other Costs (1) |  | Total
2022 Restructuring plan | $ | 2,133 |  |  | $ | 73 |  |  | $ | 2,206 |
Respiratory divestiture plan | 128 |  |  | 12 |  |  | 140 |
Other restructuring programs (2) | (314) |  |  | 189 |  |  | (125) |
Restructuring charges | $ | 1,947 |  |  | $ | 274 |  |  | $ | 2,221 |
Three Months Ended March 27, 2022 |  |  |  |  |
| Termination Benefits |  | Other Costs (1) |  | Total
Respiratory divestiture plan | $ | 106 |  |  | $ | 14 |  |  | $ | 120 |
2019 Footprint realignment plan | (670) |  |  | 24 |  |  | (646) |
2018 Footprint realignment plan | 158 |  |  | 62 |  |  | 220 |
Other restructuring programs (3) | 1,132 |  |  | 82 |  |  | 1,214 |
Restructuring charges | $ | 726 |  |  | $ | 182 |  |  | $ | 908 |
Asset impairment charges | — |  |  | 1,497 |  |  | 1,497 |
Restructuring and impairment charges | $ | 726 |  |  | $ | 1,679 |  |  | $ | 2,405 |
(1) Other costs include facility closure, contract termination and other exit costs. (2) Includes activity primarily related to our 2014, 2018, and 2019 Footprint realignment plans. (3) Includes activity primarily related to a restructuring plan initiated in the first quarter of 2022 that is designed to relocate manufacturing operations at certain of our facilities, the 2021 Restructuring plan and the 2014 Footprint realignment plan.

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- Definition The entire disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets. + References No definition available. + Details
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