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Restructuring and other impairment charges
 12 Months Ended
Dec. 31, 2021
Restructuring and Related Activities [Abstract]  
Restructuring and impairment charges Restructuring and impairment charges
Respiratory divestiture plan
During the second quarter of 2021, in connection with the Respiratory business divestiture described in Note 4, we committed to a restructuring plan designed to separate the manufacturing operations to be transferred to Medline from those that will remain with Teleflex, which includes related workforce reductions (the “Respiratory divestiture plan”). The plan includes expanding certain of our existing locations to accommodate the transfer of capacity from the sites being transferred to Medline and replicating the manufacturing processes at alternate existing locations. We expect this plan will be substantially completed by the end of 2023. The following table provides a summary of our cost estimates by major type of expense associated with the Respiratory divestiture plan:
Total estimated amount expected to be incurred
Program expense estimates:(Dollars in millions)
Restructuring charges (1)
$5 million to $8 million
Restructuring related charges (2)
$19 million to $22 million
Total restructuring and restructuring related charges
$24 million to $30 million
(1)Substantially all of the charges consist of employee termination benefit costs.
(2)Consist of charges that are directly related to the Respiratory divestiture plan and principally constitute costs to transfer manufacturing operations to other locations and project management costs. Substantially all of the charges are expected to be recognized within costs of goods sold.
We expect substantially all of the restructuring and restructuring related charges will result in future cash outlays, the majority of which will be made in 2022 and 2023. Additionally, we expect to incur $22 million to $28 million in aggregate capital expenditures under the plan, which are expected to be incurred mostly in 2022 and 2023.
For the year ended December 31, 2021, we incurred $3.3 million in pre-tax restructuring related charges, all of which were recognized in cost of goods sold.
2021 Restructuring plan
During the first quarter of 2021, we committed to a restructuring plan designed to streamline various business functions across our segments. The plan was substantially completed by the end of 2021 and we expect future restructuring expenses associated with the program, if any, to be nominal.
Footprint realignment plans
We have ongoing restructuring programs related to the relocation of manufacturing operations to existing lower-cost locations and related workforce reductions (referred to as our 2019, 2018 and 2014 Footprint realignment plans). The following tables provide a summary of our cost estimates and other information associated with these ongoing Footprint realignment plans:
2019 Footprint realignment plan2018 Footprint realignment plan 2014 Footprint realignment plan
Program expense estimates:(Dollars in millions)
Termination benefits
$14 to $15
$60 to $65
$13 to $13
Other costs (1)
2 to 2
3 to 4
1 to 2
Restructuring charges
16 to 17
63 to 69
14 to 15
Restructuring related charges (2)
38 to 43
47 to 59
39 to 40
Total restructuring and restructuring related charges
$54 to $60
$110 to $128
$53 to $55
Other program estimates:
Expected cash outlays
$48 to $54
$99 to $122
$43 to $46
Expected capital expenditures
$31 to $33
$15 to $16
$26 to $27
Other program information:
Period initiatedFebruary 2019May 2018 April 2014
Estimated period of substantial completion202220222022
Aggregate restructuring charges
$15.6
$62.5
$13.8
Restructuring related charges incurred:
For year ended December 31, 2021
$13.0
$10.7
$2.6
Aggregate restructuring related charges
$34.1
$27.4
$38.6
(1)Includes facility closure, employee relocation, equipment relocation and outplacement costs.
(2)Restructuring related charges represent costs that are directly related to the programs and principally constitute costs to transfer manufacturing operations to the existing lower-cost locations, project management costs and accelerated depreciation. The 2018 Footprint realignment plan also includes a charge associated with our exit from the facilities that is expected to be imposed by the taxing authority in the affected jurisdiction. Excluding this tax charge, substantially all of these charges are expected to be recognized within cost of goods sold.
The following table summarizes the restructuring reserve activity related to our Respiratory divestiture plan, as well as the 2019, 2018 and 2014 Footprint realignment plans:
Respiratory divestiture plan2019 Footprint realignment plan2018 Footprint realignment plan2014 Footprint realignment plan
Balance at December 31, 2019 (1)
$— $11,870 $44,274 $3,669 
Subsequent accruals— 1,542 5,948 606 
Cash payments— (5,532)(4,281)(682)
Foreign currency translation and other— 174 4,140 — 
Balance at December 31, 2020 (1)
— 8,054 50,081 3,593 
Subsequent accruals2,694 253 2,476 262 
Cash payments(7)(4,982)(4,813)(947)
Foreign currency translation and other(86)(19)(3,679)— 
Balance at December 31, 2021 (1)
$2,601 $3,306 $44,065 $2,908 
(1)The restructuring reserves as of December 31, 2021 , 2020 and 2019 consisted mainly of accruals related to termination benefits. Other costs (facility closure, employee relocation, equipment relocation and outplacement costs) were expensed and paid in the same period.
The restructuring and impairment charges recognized for the years ended December 31, 2021, 2020, and 2019 consisted of the following:
2021
Termination benefits
Other Costs (1)
Total
Respiratory divestiture plan$2,687 $7 $2,694 
2021 Restructuring plan7,280 77 7,357 
2019 Footprint realignment plan(111)364 253 
2018 Footprint realignment plan2,335 141 2,476 
Other restructuring programs (2)
(429)2,648 2,219 
Total restructuring charges11,762 3,237 14,999 
Asset impairment charges— 6,739 6,739 
Total restructuring and impairment charges$11,762 $9,976 $21,738 

2020
Termination benefits
Other Costs (1)
Total
2020 Workforce reduction plan$8,494 $353 $8,847 
2019 Footprint realignment plan647 895 1,542 
2018 Footprint realignment plan5,565 383 5,948 
Other restructuring programs (3)
(72)838 766 
Total restructuring charges14,634 2,469 17,103 
Asset impairment charges— 21,388 21,388 
Total restructuring and impairment charges$14,634 $23,857 $38,491 

2019
Termination benefits
Other Costs (1)
Total
2019 Footprint realignment plan$13,683 $70 $13,753 
2018 Footprint realignment plan(1,787)848 (939)
Other restructuring programs (4)
787 1,638 2,425 
Total restructuring charges12,683 2,556 15,239 
Asset impairment charges— 6,966 6,966 
Total restructuring and impairment charges$12,683 $9,522 $22,205 
(1)Includes facility closure, contract termination and other exit costs.
(2)Includes the 2020 Workforce reduction plan, a program initiated in the third quarter of 2019 and the 2014 Footprint realignment plan.
(3)Includes activity primarily related to the 2016 and 2014 Footprint realignment plans.
(4)Includes the 2020 Workforce reduction plan, the 2017 Vascular Solutions integration program as well as the 2016 and 2014 Footprint realignment plans.
Impairment Charges
For the year ended December 31, 2021, we recorded impairment charges of $6.7 million related to our decision to abandon intellectual property and other assets primarily associated with our respiratory product portfolio that were not transferred to Medline as part of the Respiratory business divestiture described in Note 4. For the years ended December 31, 2020 and 2019, we recorded impairment charges of $21.4 million and $7.0 million, respectively, related to our decision to abandon certain intellectual property and other assets associated with our surgical and interventional product portfolio.