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Restructuring charges, separation costs and impairment charges (Tables) | 6 Months Ended
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Jun. 29, 2025
Restructuring and Related Activities [Abstract] |
Schedule of Restructuring Reserve by Type of Cost | The following tables provide a summary of our cost estimates and other information associated with these plans:
|  |  | 2024 Footprint Realignment plan |  | 2023 Footprint Realignment plan |  |
Plan expense estimates: |  |  | (Dollars in millions) |  |
Restructuring charges (1) |  |  | $16 million to $20 million |  | $4 million to $6 million |  |
Restructuring related charges (2) (3) |  |  | $21 million to $26 million |  | $7 million to $9 million |  |
Total restructuring and restructuring related charges |  |  | $37 million to $46 million |  | $11 million to $15 million |  |
Other plan estimates: |  |  |  |  |  |  |
Expected cash outlays |  |  | $31 million to $38 million |  | $11 million to $15 million |  |
Expected capital expenditures |  |  | $15 million to $17 million |  | $2 million to $3 million |  |
Other plan information: |  |  |  |  |  |  |
Period initiated |  |  | May 2024 |  | September 2023 |  |
Estimated period of substantial completion |  |  | End of 2025 |  | End of 2027 |  |
Aggregate restructuring charges |  |  | $13.5 million |  | $3.2 million |  |
Restructuring reserve: |  |  |  |  |  |  |
Balance as of June 29, 2025 |  |  | $10.3 million |  | $2.9 million |  |
Restructuring related charges incurred: |  |  |  |  |  |  |
Three months ended June 29, 2025 |  |  | $2.4 million |  | $0.9 million |  |
Six months ended June 29, 2025 |  |  | $6.2 million |  | $1.5 million |  |
Aggregate restructuring related charges |  |  | $12.8 million |  | $4.2 million |  |
(1)Substantially all of the charges consist of employee termination benefit costs. (2)2024 Footprint realignment plan restructuring related charges represent costs that are directly related to the program and consist primarily of project management costs and costs to relocate manufacturing operations and support functions to the new locations. Substantially all of the restructuring related charges are expected to be recognized within cost of goods sold. (3)2023 Footprint realignment plan 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.
Restructuring and Other Impairment Charges | Restructuring charges, separation costs and impairment charges recognized for the three and six months ended June 29, 2025 and June 30, 2024 consisted of the following:
Three Months Ended June 29, 2025 |  |  |  |  |
| Termination Benefits |  | Other Costs (1) |  | Total
2024 Restructuring plan | $ | 40 |  |  | $ | 9 |  |  | $ | 49 |
2024 Footprint realignment plan | 1,101 |  |  | 55 |  |  | 1,156 |
2023 Footprint realignment plan | 87 |  |  | — |  |  | 87 |
Other restructuring programs (2) | (143) |  |  | 16 |  |  | (127) |
Restructuring charges | 1,085 |  |  | 80 |  |  | 1,165 |
Asset impairment charges | — |  |  | 8,117 |  |  | 8,117 |
Separation costs | — |  |  | 12,890 |  |  | 12,890 |
Restructuring charges, separation costs and impairment charges | $ | 1,085 |  |  | $ | 21,087 |  |  | $ | 22,172 |
Three Months Ended June 30, 2024 |  |  |  |  |
| Termination Benefits |  | Other Costs (1) |  | Total
2024 Footprint realignment plan | $ | 8,572 |  |  | $ | — |  |  | $ | 8,572 |
2023 Restructuring plan | (974) |  |  | 36 |  |  | (938) |
2023 Footprint realignment plan | 588 |  |  | 1 |  |  | 589 |
Other restructuring programs (3) | (373) |  |  | 5 |  |  | (368) |
Restructuring charges | $ | 7,813 |  |  | $ | 42 |  |  | $ | 7,855 |
Six Months Ended June 29, 2025 |  |  |  |  |
| Termination Benefits |  | Other Costs (1) |  | Total
2024 Restructuring plan | $ | 161 |  |  | $ | 60 |  |  | $ | 221 |
2024 Footprint realignment plan | 2,166 |  |  | 92 |  |  | 2,258 |
2023 Footprint realignment plan | 330 |  |  | 2 |  |  | 332 |
Other restructuring programs (2) | (143) |  |  | 25 |  |  | (118) |
Restructuring charges | 2,514 |  |  | 179 |  |  | 2,693 |
Asset impairment charges | — |  |  | 8,117 |  |  | 8,117 |
Separation costs | — |  |  | 16,117 |  |  | 16,117 |
Restructuring charges, separation costs and impairment charges | $ | 2,514 |  |  | $ | 24,413 |  |  | $ | 26,927 |
Six Months Ended June 30, 2024 |  |  |  |  |
| Termination Benefits |  | Other Costs (1) |  | Total
2024 Footprint realignment plan | $ | 8,572 |  |  | $ | — |  |  | $ | 8,572 |
2023 Restructuring plan | (818) |  |  | 82 |  |  | (736) |
2023 Footprint realignment plan | 743 |  |  | 3 |  |  | 746 |
Other restructuring programs (3) | (208) |  |  | 30 |  |  | (178) |
Restructuring charges | 8,289 |  |  | 115 |  |  | 8,404 |
Asset impairment charges | — |  |  | 2,110 |  |  | 2,110 |
Restructuring and impairment charges | $ | 8,289 |  |  | $ | 2,225 |  |  | $ | 10,514 |
(1) Other costs include facility closure, contract termination and other exit costs. (2) Includes activity primarily related to our 2023 Restructuring plan and our Respiratory divestiture plan. (3) Includes activity primarily related to our 2022 Restructuring plan, which has concluded.

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- Definition Tabular 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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 5.P.3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
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- Definition Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4.b.2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
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