XML 34 R23.htm IDEA: XBRL DOCUMENT
v3.25.3

Subsequent events | 9 Months Ended
--- | ---
Sep. 28, 2025
Subsequent Events [Abstract] |
Subsequent events | Subsequent events 2023 Cross-currency swap In the fourth quarter of 2025, and prior to the original October 4, 2025 maturity date, we terminated the 2023 Cross-currency swap agreements and executed new cross-currency swap agreements with five financial institution counterparties. Under these new cross-currency swap agreements, which mature in March 2026, we notionally exchanged $500 million at an annual interest rate of 4.63% for €474.7 million at an annual interest rate of 2.77%. Further, the zero cost foreign exchange collar contract associated with the 2023 Cross-currency swap agreements matured in October 2025 resulting in an immaterial impact to our financial results. VI Business integration plan During the fourth quarter of 2025, the Board of Directors approved a restructuring plan related to the integration of the VI Business into Teleflex (the “VI Business Integration plan”). The VI Business Integration 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, of which, an estimated $12 million to $14 million are expected to occur during 2026. Additionally, we expect to incur $5 million to $7 million in aggregate capital expenditures under the VI Business Integration plan, which are expected to be incurred mostly between 2026 and 2027. Palette acquisition tax matter For information regarding subsequent event related to our request to the relevant foreign tax authority to reassess Palette’s previously filed tax returns, refer to Note 13.

X
- References No definition available. + Details
Name: | us-gaap_SubsequentEventsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483399/855-10-50-2 + Details
Name: | us-gaap_SubsequentEventsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration