Teleflex (TFX) 10-Q29 Apr 212021 Q1 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	3 Months Ended
Cover Page - shares	Mar. 28, 2021	Apr. 27, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 28, 2021
Document Transition Report	false
Entity File Number	1-5353
Entity Registrant Name	TELEFLEX INCORPORATED
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	23-1147939
Entity Address, Address Line One	550 E. Swedesford Rd., Suite 400
Entity Address, City or Town	Wayne
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	19087
City Area Code	610
Local Phone Number	225-6800
Title of 12(b) Security	Common Stock, par value $1.00 per share
Trading Symbol	TFX
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Smaller Reporting Company	false
Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		46,732,674
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Entity Central Index Key	0000096943
Current Fiscal Year End Date	--12-31

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Income Statement [Abstract]
Net revenues	$ 633,925	$ 630,642
Cost of goods sold	289,398	297,018
Gross profit	344,527	333,624
Selling, general and administrative expenses	203,148	147,796
Research and development expenses	29,947	27,396
Restructuring and impairment charges	7,998	1,346
Income from continuing operations before interest and taxes	103,434	157,086
Interest expense	16,798	15,439
Interest income	(659)	(579)
Income from continuing operations before taxes	87,295	142,226
Taxes on income from continuing operations	12,428	11,074
Income from continuing operations	74,867	131,152
Operating loss from discontinued operations	(1)	(4)
Tax benefit on operating loss from discontinued operations	0	(2)
Loss from discontinued operations	(1)	(2)
Net income	$ 74,866	$ 131,150
Basic:
Income from continuing operations (in dollars per share)	$ 1.60	$ 2.83
Loss from discontinued operations (in dollars per share)	0	0
Net income (in dollars per share)	1.60	2.83
Diluted:
Income from continuing operations (in dollars per share)	1.58	2.78
Loss from discontinued operations (in dollars per share)	0	0
Net income (in dollars per share)	$ 1.58	$ 2.78
Weighted average common shares outstanding
Basic (in shares)	46,698	46,382
Diluted (in shares)	47,407	47,231

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 74,866	$ 131,150
Other comprehensive income (loss), net of tax:
Foreign currency translation, net of tax of $(598) and $(7,581)	(24,075)	(18,199)
Pension and other postretirement benefit plans adjustment, net of tax of $(513) and $(522)	1,611	1,689
Derivatives qualifying as hedges, net of tax of $33 and $372	27	(3,817)
Other comprehensive loss, net of tax:	(22,437)	(20,327)
Comprehensive income	$ 52,429	$ 110,823

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Statement of Comprehensive Income [Abstract]
Foreign currency translation, tax	$ (598)	$ (7,581)
Pension and other postretirement benefits plans adjustment, tax	(513)	(522)
Derivatives qualifying as hedges, tax	$ 33	$ 372

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 28, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 324,631	$ 375,880
Accounts receivable, net	401,112	395,071
Inventories	512,284	513,196
Prepaid expenses and other current assets	121,877	115,436
Prepaid taxes	18,879	22,842
Total current assets	1,378,783	1,422,425
Property, plant and equipment, net	467,648	473,912
Operating lease assets	94,554	100,635
Goodwill	2,565,874	2,585,966
Intangible assets, net	2,470,244	2,519,746
Deferred tax assets	8,045	8,073
Other assets	42,875	41,802
Total assets	7,028,023	7,152,559
Current liabilities
Current borrowings	83,750	100,500
Accounts payable	101,340	102,520
Accrued expenses	134,311	136,276
Payroll and benefit-related liabilities	100,380	122,366
Accrued interest	23,401	7,135
Income taxes payable	14,831	17,361
Other current liabilities	50,040	53,869
Total current liabilities	508,053	540,027
Long-term borrowings	2,295,436	2,377,888
Deferred tax liabilities	482,484	484,678
Pension and postretirement benefit liabilities	57,118	74,499
Noncurrent liability for uncertain tax positions	9,987	10,127
Noncurrent operating lease liabilities	79,403	86,097
Other liabilities	219,751	242,786
Total liabilities	3,652,232	3,816,102
Commitments and contingencies
Total shareholders' equity	3,375,791	3,336,457
Total liabilities and shareholders' equity	$ 7,028,023	$ 7,152,559

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Cash flows from operating activities of continuing operations:
Net income	$ 74,866	$ 131,150
Adjustments to reconcile net income to net cash provided by operating activities:
Loss from discontinued operations	1	2
Depreciation expense	17,513	16,842
Intangible asset amortization expense	41,922	38,911
Deferred financing costs and debt discount amortization expense	1,210	945
Fair value step up of acquired inventory sold	3,993	1,707
Changes in contingent consideration	6,354	(46,502)
Stock-based compensation	5,344	3,522
Deferred income taxes, net	425	679
Payments for contingent consideration	0	(79,771)
Interest benefit on swaps designated as net investment hedges	(4,647)	(4,874)
Other	(14,384)	(18,143)
Changes in assets and liabilities, net of effects of acquisitions and disposals:
Accounts receivable	(12,298)	(23,145)
Inventories	(10,074)	(12,346)
Prepaid expenses and other assets	3,342	6,403
Accounts payable, accrued expenses and other liabilities	(4,438)	(31,488)
Income taxes receivable and payable, net	1,665	4,651
Net cash provided by (used in) operating activities from continuing operations	110,794	(11,457)
Cash flows from investing activities of continuing operations:
Expenditures for property, plant and equipment	(19,276)	(19,684)
Proceeds from sale of assets	161	400
Payments for businesses and intangibles acquired, net of cash acquired	(1,762)	(265,160)
Net cash used in investing activities from continuing operations	(20,877)	(284,444)
Cash flows from financing activities of continuing operations:
Proceeds from new borrowings	0	485,000
Reduction in borrowings	(100,000)	0
Debt extinguishment, issuance and amendment fees	(22)	0
Net proceeds from share based compensation plans and the related tax impacts	(2,510)	(3,022)
Payments for contingent consideration	(13,071)	(60,881)
Dividends paid	(15,893)	(15,767)
Net cash (used in) provided by financing activities from continuing operations	(131,496)	405,330
Cash flows from discontinued operations:
Net cash used in operating activities	(243)	(193)
Net cash used in discontinued operations	(243)	(193)
Effect of exchange rate changes on cash and cash equivalents	(9,427)	(3,842)
Net (decrease) increase in cash and cash equivalents	(51,249)	105,394
Cash and cash equivalents at the beginning of the period	375,880	301,083
Cash and cash equivalents at the end of the period	$ 324,631	$ 406,477

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Additional Paid In Capital	Retained Earnings	Retained EarningsCumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Loss	Treasury Stock
Beginning Balance (in shares) at Dec. 31, 2019			47,536					1,182
Beginning Balance at Dec. 31, 2019	$ 2,979,320	$ (791)	$ 47,536	$ 616,980	$ 2,824,916	$ (791)	$ (344,392)	$ (165,720)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	131,150				131,150
Cash dividends	(15,767)				(15,767)
Other comprehensive loss	(20,327)						(20,327)
Shares issued under compensation plans (in shares)			24					(37)
Shares issued under compensation plans	(1,302)		$ 24	(3,074)				$ 1,748
Deferred compensation (in shares)								(5)
Deferred compensation	741			383				$ 358
Ending Balance (in shares) at Mar. 29, 2020			47,560					1,140
Ending Balance at Mar. 29, 2020	3,073,024		$ 47,560	614,289	2,939,508		(364,719)	$ (163,614)
Beginning Balance (in shares) at Dec. 31, 2020			47,812					1,132
Beginning Balance at Dec. 31, 2020	3,336,457		$ 47,812	652,305	3,096,228		(297,298)	$ (162,590)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	74,866				74,866
Cash dividends	(15,893)				(15,893)
Other comprehensive loss	(22,437)						(22,437)
Shares issued under compensation plans (in shares)			18					(28)
Shares issued under compensation plans	2,110		$ 18	1,993				$ 99
Deferred compensation (in shares)								(4)
Deferred compensation	688			447				$ 241
Ending Balance (in shares) at Mar. 28, 2021			47,830					1,100
Ending Balance at Mar. 28, 2021	$ 3,375,791		$ 47,830	$ 654,745	$ 3,155,201		$ (319,735)	$ (162,250)

CONDENSED CONSOLIDATED STATEM_6

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Statement of Stockholders' Equity [Abstract]
Dividends per share (in dollars per share)	$ 0.34	$ 0.34

Basis of presentation

Basis of presentation	3 Months Ended
Basis of presentation	Mar. 28, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of presentation	Basis of presentation The accompanying unaudited condensed consolidated financial statements of Teleflex Incorporated and its subsidiaries (“we,” “us,” “our" and “Teleflex”) are prepared on the same basis as its annual consolidated financial statements. In the opinion of management, the financial statements reflect all adjustments, which are of a normal recurring nature, necessary for the fair statement of the financial statements for interim periods in accordance with accounting principles generally accepted in the United States of America ("GAAP") and Rule 10-01 of Securities and Exchange Commission ("SEC") Regulation S-X, which sets forth the instructions for the form and content of presentation of financial statements included in Form 10-Q. The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The results of operations for the periods reported are not necessarily indicative of those that may be expected for a full year. In accordance with applicable accounting standards and as permitted by Rule 10-01 of Regulation S-X, the accompanying condensed consolidated financial statements do not include all of the information and footnote disclosures that are required to be included in our annual consolidated financial statements. Therefore, our quarterly condensed consolidated financial statements should be read in conjunction with our consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2020.

Recently issued accounting stan

Recently issued accounting standards	3 Months Ended
Recently issued accounting standards	Mar. 28, 2021
Accounting Standards Update and Change in Accounting Principle [Abstract]
Recently issued accounting standards	Recently issued accounting standards In December 2019, the FASB issued new guidance that simplifies various aspects of accounting for income taxes including those related to the step-up in the tax basis of goodwill, intraperiod tax allocations and the interim period effects of changes in tax laws or rates. The new guidance is effective for fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The modifications under the new guidance were applied on a prospective basis effective January 1, 2021. The adoption of the new guidance did not have a material effect on the consolidated financial statements. From time to time, new accounting guidance is issued by the FASB or other standard setting bodies that is adopted by us as of the effective date or, in some cases where early adoption is permitted, in advance of the effective date. We have assessed the recently issued guidance that is not yet effective and, unless otherwise indicated above, believes the new guidance will not have a material impact on the consolidated results of operations, cash flows or financial position.

Net revenues

Net revenues	3 Months Ended
Net revenues	Mar. 28, 2021
Revenue from Contract with Customer [Abstract]
Net revenues	Net revenuesWe primarily generate revenue from the sale of medical devices including single use disposable devices and, to a lesser extent, reusable devices, instruments and capital equipment. Revenue is recognized when obligations under the terms of a contract with our customer are satisfied; this occurs upon the transfer of control of the products. Generally, transfer of control to the customer occurs at the point in time when our products are shipped from the manufacturing or distribution facility. For our Original Equipment and Development Services ("OEM") segment, most revenue is recognized over time because the OEM segment generates revenue from the sale of custom products that have no alternative use and we have an enforceable right to payment to the extent that performance has been completed. We market and sell products through our direct sales force and distributors to customers within the following end markets: (1) hospitals and healthcare providers; (2) other medical device manufacturers; and (3) home care providers, which comprised 88%, 9% and 3% of consolidated net revenues, respectively, for the three months ended March 28, 2021. Revenue is measured as the amount of consideration we expect to receive in exchange for transferring goods. With respect to the custom products sold in the OEM segment, revenue is measured using the units produced output method. Payment is generally due 30 days from the date of invoice. The following table disaggregates revenue by global product category for the three months ended March 28, 2021 and March 29, 2020. Three Months Ended March 28, 2021 March 29, 2020 Vascular access $ 163,973 $ 150,256 Anesthesia 84,857 75,702 Interventional 96,173 99,931 Surgical 80,386 75,432 Interventional urology 73,364 74,194 OEM 53,489 63,389 Other (1) 81,683 91,738 Net revenues (2) $ 633,925 $ 630,642 (1) Includes revenues generated from sales of our respiratory and urology products (other than interventional urology products). (2) The product categories listed above are presented on a global basis, while each of our reportable segments other than the OEM reportable segment are defined based on the geographic location of its operations; the OEM reportable segment operates globally. Each of the geographically based reportable segments include net revenues from each of the non-OEM product categories listed above.

Acquisitions

Acquisitions	3 Months Ended
Acquisitions	Mar. 28, 2021
Business Combinations [Abstract]
Acquisitions	AcquisitionsOn February 18, 2020, we acquired IWG High Performance Conductors, Inc. ("HPC"), a privately-held original equipment manufacturer of minimally invasive medical products and high performance conductors. The acquisition complements our OEM product portfolio.On December 28, 2020, we acquired Z-Medica, LLC ("Z-Medica"), a privately-held medical device company that manufactures and sells hemostatic (hemorrhage control) products, marketed under the QuikClot, Combat Gauze and QuickClot Control+ brand names, to complement our anesthesia product portfolio. The acquisition included an initial cash purchase price of $500.0 million, with the potential to make an additional payment up to $25 million upon the achievement of certain commercial milestones.

Restructuring and impairment ch

Restructuring and impairment charges	3 Months Ended
Restructuring and impairment charges	Mar. 28, 2021
Restructuring and Related Activities [Abstract]
Restructuring and impairment charges	Restructuring and impairment charges 2021 Restructuring plan During the first quarter of 2021, we committed to a restructuring plan designed to streamline various business functions across our segments. We estimate that we will incur aggregate pre-tax restructuring charges of $7 million to $9 million, consisting primarily of termination benefits. In addition, we expect to incur $3 million to $4 million in restructuring related charges, most of which are expected to be recognized in cost of goods sold. We expect this program will be substantially completed by the end of 2021. As of March 28, 2021, we had a restructuring reserve of $6.4 million related to this plan, all of which related to termination benefits. Footprint realignment plans We have ongoing restructuring programs primarily related to the relocation of manufacturing operations to existing lower-cost locations and related workforce reductions (referred to as the 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 plan 2018 Footprint realignment plan 2014 Footprint realignment plan Program expense estimates: (Dollars in millions) Termination benefits $16 to $18 $60 to $70 $13 to $13 Other costs (1) 2 to 2 3 to 4 1 to 2 Restructuring charges 18 to 20 63 to 74 14 to 15 Restructuring related charges (2) 38 to 43 40 to 59 38 to 40 Total restructuring and restructuring related charges $56 to $63 $103 to $133 $52 to $55 Other program estimates: Expected cash outlays $50 to $57 $99 to $127 $42 to $46 Expected capital expenditures $28 to $33 $19 to $23 $26 to $27 Other program information: Period initiated February 2019 May 2018 April 2014 Estimated period of substantial completion 2022 2022 2022 Aggregate restructuring charges $15.7 $60.3 $13.6 Restructuring reserve: Balance as of March 28, 2021 $7.0 $46.0 $3.3 Restructuring related charges incurred: Three Months Ended March 28, 2021 $3.6 $2.0 $0.7 Aggregate restructuring related charges $24.7 $18.7 $36.7 (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 the restructuring related charges are expected to be recognized within cost of goods sold. Three Months Ended March 28, 2021 Termination benefits Other costs (1) Total 2021 Restructuring plan $ 6,760 $ — $ 6,760 2019 Footprint realignment plan 341 105 446 2018 Footprint realignment plan 267 45 312 Other restructuring programs (2) (166) 646 480 Restructuring charges $ 7,202 $ 796 $ 7,998 Three Months Ended March 29, 2020 Termination benefits Other costs (1) Total 2019 Footprint realignment plan $ 829 $ 9 $ 838 2018 Footprint realignment plan 314 81 395 Other restructuring programs (2) (107) 220 113 Restructuring charges $ 1,036 $ 310 $ 1,346 (1) Other costs include facility closure, contract termination and other exit costs. (2) Includes the program initiated during third quarter of 2019 as well as the 2016 and 2014 Footprint realignment plans.

Inventories

Inventories	3 Months Ended
Inventories	Mar. 28, 2021
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories as of March 28, 2021 and December 31, 2020 consisted of the following: March 28, 2021 December 31, 2020 Raw materials $ 131,094 $ 132,370 Work-in-process 76,267 75,874 Finished goods 304,923 304,952 Inventories $ 512,284 $ 513,196

Goodwill and other intangible a

Goodwill and other intangible assets	3 Months Ended
Goodwill and other intangible assets	Mar. 28, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and other intangible assets	Goodwill and other intangible assets The following table provides information relating to changes in the carrying amount of goodwill by reportable operating segment for the three months ended March 28, 2021: Americas EMEA Asia OEM Total December 31, 2020 $ 1,700,282 $ 536,228 $ 237,446 $ 112,010 $ 2,585,966 Currency translation adjustment (746) (15,442) (3,904) — (20,092) March 28, 2021 $ 1,699,536 $ 520,786 $ 233,542 $ 112,010 $ 2,565,874 The gross carrying amount of, and accumulated amortization relating to, intangible assets as of March 28, 2021 and December 31, 2020 were as follows: Gross Carrying Amount Accumulated Amortization March 28, 2021 December 31, 2020 March 28, 2021 December 31, 2020 Customer relationships $ 1,373,922 $ 1,377,943 $ (439,068) $ (425,692) In-process research and development 28,969 29,627 — — Intellectual property 1,456,085 1,458,924 (500,282) (479,612) Distribution rights 23,673 23,866 (20,284) (20,280) Trade names 615,816 619,847 (69,533) (65,955) Non-compete agreements 23,789 24,592 (22,843) (23,514) $ 3,522,254 $ 3,534,799 $ (1,052,010) $ (1,015,053)

Financial instruments

Financial instruments	3 Months Ended
Financial instruments	Mar. 28, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial instruments	Financial instruments Foreign currency forward contracts We use derivative instruments for risk management purposes. Foreign currency forward contracts designated as cash flow hedges are used to manage foreign currency transaction exposure. Foreign currency forward contracts not designated as hedges for accounting purposes are used to manage exposure related to near term foreign currency denominated monetary assets and liabilities. We enter into the non-designated foreign currency forward contracts for periods consistent with our currency translation exposures, which generally approximate one month. For the three months ended March 28, 2021 we recognized a loss of $3.2 million related to non-designated foreign currency forward contracts. For the three months ended March 29, 2020 we recognized a gain of $1.6 million related to non-designated foreign currency forward contracts. The total notional amount for all open foreign currency forward contracts designated as cash flow hedges as of March 28, 2021 and December 31, 2020 was $131.2 million and $129.5 million, respectively. The total notional amount for all open non-designated foreign currency forward contracts as of March 28, 2021 and December 31, 2020 was $191.3 million and $163.5 million, respectively. All open foreign currency forward contracts as of March 28, 2021 have durations of 12 months or less. Cross-currency interest rate swaps During 2019, we entered into cross-currency swap agreements with five different financial institution counterparties to hedge against the effect of variability in the U.S. dollar to euro exchange rate. Under the terms of the cross-currency swap agreements, we have notionally exchanged $250 million at an annual interest rate of 4.875% for €219.2 million at an annual interest rate of 2.4595%. The swap agreements are designed as net investment hedges and expire on March 4, 2024. During 2018, we entered into cross-currency swap agreements with six different financial institution counterparties to hedge against the effect of variability in the U.S. dollar to euro exchange rate. Under the terms of the cross-currency swap agreements, we have notionally exchanged $500 million at an annual interest rate of 4.625% for €433.9 million at an annual interest rate of 1.942%. The swap agreements are designed as net investment hedges and expire on October 4, 2023. The swap agreements described above require an exchange of the notional amounts upon expiration or earlier termination of the agreements. We and the counterparties have agreed to effect the exchange through a net settlement. The cross-currency swaps are marked to market at each reporting date and any changes in fair value are recognized as a component of accumulated other comprehensive income (loss) ("AOCI"). For the three months ended March 28, 2021 and March 29, 2020, we recognized foreign exchange gains of $17.6 million and $25.0 million, respectively, within AOCI related to the cross-currency swaps. For the three months ended March 28, 2021 and March 29, 2020, we recognized $4.6 million and $4.9 million, respectively, in interest benefit related to the cross-currency swaps. Balance sheet presentation The following table presents the locations in the condensed consolidated balance sheet and fair value of derivative financial instruments as of March 28, 2021 and December 31, 2020: March 28, 2021 December 31, 2020 Asset derivatives: Designated foreign currency forward contracts $ 1,098 $ 1,691 Non-designated foreign currency forward contracts 212 61 Cross-currency interest rate swaps 25,575 20,106 Prepaid expenses and other current assets 26,885 21,858 Total asset derivatives $ 26,885 $ 21,858 Liability derivatives: Designated foreign currency forward contracts $ 1,706 $ 1,504 Non-designated foreign currency forward contracts 216 366 Other current liabilities 1,922 1,870 Cross-currency interest rate swaps 12,054 34,125 Other liabilities 12,054 34,125 Total liability derivatives $ 13,976 $ 35,995 See Note 10 for information on the location and amount of gains and losses attributable to derivatives that were reclassified from AOCI to expense (income), net of tax. There was no ineffectiveness related to our cash flow hedges during the three months ended March 28, 2021 and March 29, 2020.

Fair value measurement

Fair value measurement	3 Months Ended
Fair value measurement	Mar. 28, 2021
Fair Value Disclosures [Abstract]
Fair value measurement	Fair value measurement The following tables provide information regarding our financial assets and liabilities measured at fair value on a recurring basis as of March 28, 2021 and December 31, 2020: Total carrying value at March 28, 2021 Quoted prices in active Significant other Significant Investments in marketable securities $ 13,357 $ 13,357 $ — $ — Derivative assets 26,885 — 26,885 — Derivative liabilities 13,976 — 13,976 — Contingent consideration liabilities 29,763 — — 29,763 Total carrying Quoted prices in active Significant other Significant Investments in marketable securities $ 12,617 $ 12,617 $ — $ — Derivative assets 21,858 — 21,858 — Derivative liabilities 35,995 — 35,995 — Contingent consideration liabilities 36,633 — — 36,633 Valuation Techniques Our financial assets valued based upon Level 1 inputs are comprised of investments in marketable securities held in trust, which are available to satisfy benefit obligations under our benefit plans and other arrangements. The investment assets of the trust are valued using quoted market prices. Our financial assets and liabilities valued based upon Level 2 inputs are comprised of foreign currency forward contracts and cross-currency interest rate swap agreements. We use foreign currency forwards and cross-currency interest rate swaps to manage foreign currency transaction exposure, as well as exposure to foreign currency denominated monetary assets and liabilities. We measure the fair value of the foreign currency forwards and cross-currency swaps by calculating the amount required to enter into offsetting contracts with similar remaining maturities, based on quoted market prices, and taking into account the creditworthiness of the counterparties. Our financial liabilities valued based upon Level 3 inputs (inputs that are not observable in the market) are comprised of contingent consideration arrangements pertaining to our acquisitions, which are discussed immediately below. Contingent consideration Contingent consideration liabilities, which primarily consist of payment obligations that are contingent upon the achievement of revenue-based goals, but also can be based on other milestones such as regulatory approvals, are remeasured to fair value each reporting period using assumptions including estimated revenues (based on internal operational budgets and long-range strategic plans), discount rates, probability of payment and projected payment dates. The table below provides additional information regarding the valuation technique and inputs used in determining the fair value of contingent consideration. Contingent Consideration Liability Valuation Technique Unobservable Input Range (Weighted average) Milestone-based payments Discounted cash flow Discount rate 1.2% - 2.5% (1.5%) Projected year of payment 2021 - 2023 Revenue-based payments Discounted cash flow Discount rate 1.6% - 10.0% (3.2%) Projected year of payment 2021 - 2029 The following table provides information regarding changes in the contingent consideration liabilities during the three months ended March 28, 2021: Contingent consideration Balance - December 31, 2020 $ 36,633 Payments (13,071) Revaluations 6,354 Translation adjustment (153) Balance - March 28, 2021 $ 29,763

Shareholders' equity

Shareholders' equity	3 Months Ended
Shareholders' equity	Mar. 28, 2021
Equity [Abstract]
Shareholders' equity	Shareholders’ equity Basic earnings per share is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed in the same manner except that the weighted average number of shares is increased to include dilutive securities. The following table provides a reconciliation of basic to diluted weighted average number of common shares outstanding: Three Months Ended March 28, 2021 March 29, 2020 Basic 46,698 46,382 Dilutive effect of share-based awards 709 849 Diluted 47,407 47,231 The weighted average number of shares that were antidilutive and therefore excluded from the calculation of earnings per share were 0.1 million the three months ended March 28, 2021 and March 29, 2020. The following tables provide information relating to the changes in accumulated other comprehensive loss, net of tax, for the three months ended March 28, 2021 and March 29, 2020: Cash Flow Hedges Pension and Other Postretirement Benefit Plans Foreign Currency Translation Adjustment Accumulated Other Comprehensive (Loss) Income Balance as of December 31, 2020 $ (482) $ (150,257) $ (146,559) $ (297,298) Other comprehensive (loss) income before reclassifications (811) 161 (24,075) (24,725) Amounts reclassified from accumulated other comprehensive income 838 1,450 — 2,288 Net current-period other comprehensive (loss) income 27 1,611 (24,075) (22,437) Balance as of March 28, 2021 $ (455) $ (148,646) $ (170,634) $ (319,735) Cash Flow Hedges Pension and Other Postretirement Benefit Plans Foreign Currency Translation Adjustment Accumulated Other Comprehensive (Loss) Income Balance as of December 31, 2019 $ 735 $ (138,810) $ (206,317) $ (344,392) Other comprehensive income (loss) before reclassifications (3,760) 263 (18,199) (21,696) Amounts reclassified from accumulated other comprehensive loss (57) 1,426 — 1,369 Net current-period other comprehensive income (3,817) 1,689 (18,199) (20,327) Balance as of March 29, 2020 $ (3,082) $ (137,121) $ (224,516) $ (364,719) The following table provides information relating to the location in the statements of operations and amount of reclassifications of losses/(gains) in accumulated other comprehensive (loss) income into expense/(income), net of tax, for the three months ended March 28, 2021 and March 29, 2020: Three Months Ended March 28, 2021 March 29, 2020 Losses (gains) on foreign exchange contracts: Cost of goods sold $ 846 $ (66) Total before tax 846 (66) (Benefit) tax (8) 9 Net of tax $ 838 $ (57) Amortization of pension and other postretirement benefit items (1) : Actuarial losses $ 2,143 $ 1,852 Prior-service costs (251) 8 Total before tax 1,892 1,860 Tax benefit (442) (434) Net of tax $ 1,450 $ 1,426 Total reclassifications, net of tax $ 2,288 $ 1,369 (1) These accumulated other comprehensive (loss) income components are included in the computation of net benefit expense for pension and other postretirement benefit plans.

Taxes on income from continuing

Taxes on income from continuing operations	3 Months Ended
Taxes on income from continuing operations	Mar. 28, 2021
Income Tax Disclosure [Abstract]
Taxes on income from continuing operations	Taxes on income from continuing operations Three Months Ended March 28, 2021 March 29, 2020 Effective income tax rate 14.2% 7.8%

Commitments and contingent liab

Commitments and contingent liabilities	3 Months Ended
Commitments and contingent liabilities	Mar. 28, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingent liabilities	Commitments and contingent liabilities Environmental: We are subject to contingencies as a result of environmental laws and regulations that in the future may require us to take further action to correct the effects on the environment of prior disposal practices or releases of chemical or petroleum substances by us or other parties. Much of this liability results from the U.S. Comprehensive Environmental Response, Compensation and Liability Act, often referred to as Superfund, the U.S. Resource Conservation and Recovery Act and similar state laws. These laws require us to undertake certain investigative and remedial activities at sites where we conduct or once conducted operations or at sites where Company-generated waste was disposed. Remediation activities vary substantially in duration and cost from site to site. These activities, and their associated costs, depend on the mix of unique site characteristics, evolving remediation technologies, the regulatory agencies involved and their enforcement policies, as well as the presence or absence of other potentially responsible parties. At March 28, 2021, we have recorded $1.6 million and $5.0 million in accrued liabilities and other liabilities, respectively, relating to these matters. Considerable uncertainty exists with respect to these liabilities and, if adverse changes in circumstances occur, the potential liability may exceed the amount accrued as of March 28, 2021. The time frame over which the accrued amounts may be paid out, based on past history, is estimated to be 10-15 years. Legal matters: We are a party to various lawsuits and claims arising in the normal course of business. These lawsuits and claims include actions involving product liability, product warranty, commercial disputes, intellectual property, contract, employment, environmental and other matters. As of March 28, 2021, we have recorded accrued liabilities of $0.4 million in connection with such contingencies, representing our best estimate of the cost within the range of estimated possible losses that will be incurred to resolve these matters. On February 17, 2021, representatives of the selling shareholders from whom we acquired Essential Medical, Inc., filed suit on behalf of such shareholders in the Court of Chancery of the State of Delaware alleging, among other things, that we breached the merger agreement relating to the acquisition in connection with activities relating to the achievement of revenue-based milestone goals under the agreement. The suit seeks money damages in the amount of $66.9 million plus interest. We are assessing our response to this action, but believe that the claim lacks merit, and intend to defend ourselves vigorously. In June 2020, we began producing documents and information in response to a Civil Investigative Demand (a “CID”) received in March 2020 by one of our subsidiaries, NeoTract, Inc. (“NeoTract”), from the U.S. Department of Justice through the United States Attorney’s Office for the Northern District of Georgia (collectively, the “DOJ”). The CID relates to the DOJ’s investigation of a single NeoTract customer, requires the production of documents and information pertaining to communications with, and certain rebate programs offered to, that customer and pertains to communications and activities occurring both prior to our acquisition of NeoTract in October 2017 and thereafter. In July 2020, the DOJ advised us that it had opened an investigation under the civil False Claims Act, 31 U.S.C. §3729, with respect to NeoTract’s operations broadly in addition to the customer investigation. Based on information currently available, advice of counsel, established reserves and other resources, we do not believe that the outcome of any outstanding litigation and claims is likely to be, individually or in the aggregate, material to our business, financial condition, results of operations or liquidity. However, in the event of unexpected further developments, it is possible that the ultimate resolution of these matters, or other similar matters, if unfavorable, may be materially adverse to our business, financial condition, results of operations or liquidity. Legal costs such as outside counsel fees and expenses are charged to selling, general and administrative expenses in the period incurred. We maintain policies and procedures to promote compliance with the Anti-Kickback Statute, False Claims Acts and other applicable laws and regulations and intend to provide information sought by the government. We cannot at this time reasonably predict, however, the ultimate scope or outcome of this matter, including whether an investigation may raise other compliance issues of interest, including those beyond the scope described above or how any such issues might be resolved. We also cannot at this time reasonably estimate any potential liabilities or penalty, if any, that may arise from this matter, which could have a material adverse effect on our results of operations and financial condition. Tax audits and examinations: We are routinely subject to tax examinations by various tax authorities. As of March 28, 2021, the most significant tax examinations in process were in Ireland and Germany. We may establish reserves with respect to our uncertain tax positions, after we adjust the reserves to address developments with respect to our uncertain tax positions, including developments in these tax examinations. Accordingly, developments in tax audits and examinations, including resolution of uncertain tax positions, could result in increases or decreases to our recorded tax liabilities, which could impact our financial results.

Segment information

Segment information	3 Months Ended
Segment information	Mar. 28, 2021
Segment Reporting [Abstract]
Segment information	Segment information The following tables present our segment results for the three months ended March 28, 2021 and March 29, 2020: Three Months Ended March 28, 2021 March 29, 2020 Americas $ 375,493 $ 358,002 EMEA 141,253 156,124 Asia 63,690 53,129 OEM 53,489 63,387 Net revenues $ 633,925 $ 630,642 Three Months Ended March 28, 2021 March 29, 2020 Americas $ 83,602 $ 140,969 EMEA 22,995 20,419 Asia 14,916 10,232 OEM 12,562 15,099 Total segment operating profit (1) 134,075 186,719 Unallocated expenses (2) (30,641) (29,633) Income from continuing operations before interest and taxes $ 103,434 $ 157,086 (1) Segment operating profit includes segment net revenues from external customers reduced by the segment's standard cost of goods sold, adjusted for fixed manufacturing cost absorption variances, selling, general and administrative expenses, research and development expenses and an allocation of corporate expenses. Corporate expenses are allocated among the segments in proportion to the respective amounts of one of several items (such as net revenues, numbers of employees, and amount of time spent), depending on the category of expense involved. (2) Unallocated expenses primarily include manufacturing variances other than fixed manufacturing cost absorption variances, restructuring and impairment charges and gain on sale of assets.

Subsequent event

Subsequent event	3 Months Ended
Subsequent event	Mar. 28, 2021
Subsequent Events [Abstract]
Subsequent event	Subsequent event Redemption of 4.875% Senior Notes due 2026 On April 29, 2021, we issued a notice of redemption to holders of our outstanding $400 million aggregate principal amount of 4.875% Senior Notes due 2026 (the “2026 Notes”). Pursuant to the notice of redemption, the 2026 Notes will be redeemed on June 1, 2021 (the “Redemption Date”) at a redemption price equal to 102.438% of the principal amount of the 2026 Notes plus accrued and unpaid interest up to, but not including, the Redemption Date (the “Redemption Price”). The notice of redemption provides that the redemption is subject to the condition that we are able to borrow funds under our revolving credit agreement on the Redemption Date in an amount sufficient to pay the aggregate Redemption Price. We anticipate recognizing a loss on extinguishment of debt of $13.0 million in the second quarter of 2021 as a result of the redemption of the 2026 Notes.

Recently issued accounting st_2

Recently issued accounting standards (Policies)	3 Months Ended
Recently issued accounting standards (Policies)	Mar. 28, 2021
Accounting Standards Update and Change in Accounting Principle [Abstract]
Recently issued accounting standards	Recently issued accounting standards In December 2019, the FASB issued new guidance that simplifies various aspects of accounting for income taxes including those related to the step-up in the tax basis of goodwill, intraperiod tax allocations and the interim period effects of changes in tax laws or rates. The new guidance is effective for fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The modifications under the new guidance were applied on a prospective basis effective January 1, 2021. The adoption of the new guidance did not have a material effect on the consolidated financial statements. From time to time, new accounting guidance is issued by the FASB or other standard setting bodies that is adopted by us as of the effective date or, in some cases where early adoption is permitted, in advance of the effective date. We have assessed the recently issued guidance that is not yet effective and, unless otherwise indicated above, believes the new guidance will not have a material impact on the consolidated results of operations, cash flows or financial position.
Basis of presentation	Basis of presentation The accompanying unaudited condensed consolidated financial statements of Teleflex Incorporated and its subsidiaries (“we,” “us,” “our" and “Teleflex”) are prepared on the same basis as its annual consolidated financial statements. In the opinion of management, the financial statements reflect all adjustments, which are of a normal recurring nature, necessary for the fair statement of the financial statements for interim periods in accordance with accounting principles generally accepted in the United States of America ("GAAP") and Rule 10-01 of Securities and Exchange Commission ("SEC") Regulation S-X, which sets forth the instructions for the form and content of presentation of financial statements included in Form 10-Q. The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The results of operations for the periods reported are not necessarily indicative of those that may be expected for a full year. In accordance with applicable accounting standards and as permitted by Rule 10-01 of Regulation S-X, the accompanying condensed consolidated financial statements do not include all of the information and footnote disclosures that are required to be included in our annual consolidated financial statements. Therefore, our quarterly condensed consolidated financial statements should be read in conjunction with our consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2020.

Net revenues (Tables)

Net revenues (Tables)	3 Months Ended
Net revenues (Tables)	Mar. 28, 2021
Revenue from Contract with Customer [Abstract]
Schedule of Revenue by Major Customers by Reporting Segments	The following table disaggregates revenue by global product category for the three months ended March 28, 2021 and March 29, 2020. Three Months Ended March 28, 2021 March 29, 2020 Vascular access $ 163,973 $ 150,256 Anesthesia 84,857 75,702 Interventional 96,173 99,931 Surgical 80,386 75,432 Interventional urology 73,364 74,194 OEM 53,489 63,389 Other (1) 81,683 91,738 Net revenues (2) $ 633,925 $ 630,642 (1) Includes revenues generated from sales of our respiratory and urology products (other than interventional urology products). (2) The product categories listed above are presented on a global basis, while each of our reportable segments other than the OEM reportable segment are defined based on the geographic location of its operations; the OEM reportable segment operates globally. Each of the geographically based reportable segments include net revenues from each of the non-OEM product categories listed above.

Restructuring and impairment _2

Restructuring and impairment charges (Tables)	3 Months Ended
Restructuring and impairment charges (Tables)	Mar. 28, 2021
Restructuring and Related Activities [Abstract]
Summary Of Current Cost Estimates By Major Type Of Cost Table	The following tables provide a summary of our cost estimates and other information associated with these ongoing Footprint realignment plans: 2019 Footprint realignment plan 2018 Footprint realignment plan 2014 Footprint realignment plan Program expense estimates: (Dollars in millions) Termination benefits $16 to $18 $60 to $70 $13 to $13 Other costs (1) 2 to 2 3 to 4 1 to 2 Restructuring charges 18 to 20 63 to 74 14 to 15 Restructuring related charges (2) 38 to 43 40 to 59 38 to 40 Total restructuring and restructuring related charges $56 to $63 $103 to $133 $52 to $55 Other program estimates: Expected cash outlays $50 to $57 $99 to $127 $42 to $46 Expected capital expenditures $28 to $33 $19 to $23 $26 to $27 Other program information: Period initiated February 2019 May 2018 April 2014 Estimated period of substantial completion 2022 2022 2022 Aggregate restructuring charges $15.7 $60.3 $13.6 Restructuring reserve: Balance as of March 28, 2021 $7.0 $46.0 $3.3 Restructuring related charges incurred: Three Months Ended March 28, 2021 $3.6 $2.0 $0.7 Aggregate restructuring related charges $24.7 $18.7 $36.7 (1) Includes facility closure, employee relocation, equipment relocation and outplacement costs.
Restructuring and Other Impairment Charges	Three Months Ended March 28, 2021 Termination benefits Other costs (1) Total 2021 Restructuring plan $ 6,760 $ — $ 6,760 2019 Footprint realignment plan 341 105 446 2018 Footprint realignment plan 267 45 312 Other restructuring programs (2) (166) 646 480 Restructuring charges $ 7,202 $ 796 $ 7,998 Three Months Ended March 29, 2020 Termination benefits Other costs (1) Total 2019 Footprint realignment plan $ 829 $ 9 $ 838 2018 Footprint realignment plan 314 81 395 Other restructuring programs (2) (107) 220 113 Restructuring charges $ 1,036 $ 310 $ 1,346 (1) Other costs include facility closure, contract termination and other exit costs. (2) Includes the program initiated during third quarter of 2019 as well as the 2016 and 2014 Footprint realignment plans.

Inventories (Tables)

Inventories (Tables)	3 Months Ended
Inventories (Tables)	Mar. 28, 2021
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventories as of March 28, 2021 and December 31, 2020 consisted of the following: March 28, 2021 December 31, 2020 Raw materials $ 131,094 $ 132,370 Work-in-process 76,267 75,874 Finished goods 304,923 304,952 Inventories $ 512,284 $ 513,196

Goodwill and other intangible_2

Goodwill and other intangible assets, net (Tables)	3 Months Ended
Goodwill and other intangible assets, net (Tables)	Mar. 28, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The following table provides information relating to changes in the carrying amount of goodwill by reportable operating segment for the three months ended March 28, 2021: Americas EMEA Asia OEM Total December 31, 2020 $ 1,700,282 $ 536,228 $ 237,446 $ 112,010 $ 2,585,966 Currency translation adjustment (746) (15,442) (3,904) — (20,092) March 28, 2021 $ 1,699,536 $ 520,786 $ 233,542 $ 112,010 $ 2,565,874
Schedule of Finite-Lived Intangible Assets	The gross carrying amount of, and accumulated amortization relating to, intangible assets as of March 28, 2021 and December 31, 2020 were as follows: Gross Carrying Amount Accumulated Amortization March 28, 2021 December 31, 2020 March 28, 2021 December 31, 2020 Customer relationships $ 1,373,922 $ 1,377,943 $ (439,068) $ (425,692) In-process research and development 28,969 29,627 — — Intellectual property 1,456,085 1,458,924 (500,282) (479,612) Distribution rights 23,673 23,866 (20,284) (20,280) Trade names 615,816 619,847 (69,533) (65,955) Non-compete agreements 23,789 24,592 (22,843) (23,514) $ 3,522,254 $ 3,534,799 $ (1,052,010) $ (1,015,053)

Financial instruments (Tables)

Financial instruments (Tables)	3 Months Ended
Financial instruments (Tables)	Mar. 28, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Values of Derivative Instruments Designated as Hedging Instruments	The following table presents the locations in the condensed consolidated balance sheet and fair value of derivative financial instruments as of March 28, 2021 and December 31, 2020: March 28, 2021 December 31, 2020 Asset derivatives: Designated foreign currency forward contracts $ 1,098 $ 1,691 Non-designated foreign currency forward contracts 212 61 Cross-currency interest rate swaps 25,575 20,106 Prepaid expenses and other current assets 26,885 21,858 Total asset derivatives $ 26,885 $ 21,858 Liability derivatives: Designated foreign currency forward contracts $ 1,706 $ 1,504 Non-designated foreign currency forward contracts 216 366 Other current liabilities 1,922 1,870 Cross-currency interest rate swaps 12,054 34,125 Other liabilities 12,054 34,125 Total liability derivatives $ 13,976 $ 35,995

Fair value measurement (Tables)

Fair value measurement (Tables)	3 Months Ended
Fair value measurement (Tables)	Mar. 28, 2021
Fair Value Disclosures [Abstract]
Financial Assets and Liabilities Carried at Fair Value Measured on Recurring Basis	The following tables provide information regarding our financial assets and liabilities measured at fair value on a recurring basis as of March 28, 2021 and December 31, 2020: Total carrying value at March 28, 2021 Quoted prices in active Significant other Significant Investments in marketable securities $ 13,357 $ 13,357 $ — $ — Derivative assets 26,885 — 26,885 — Derivative liabilities 13,976 — 13,976 — Contingent consideration liabilities 29,763 — — 29,763 Total carrying Quoted prices in active Significant other Significant Investments in marketable securities $ 12,617 $ 12,617 $ — $ — Derivative assets 21,858 — 21,858 — Derivative liabilities 35,995 — 35,995 — Contingent consideration liabilities 36,633 — — 36,633
Schedule of Valuation Techniques	The table below provides additional information regarding the valuation technique and inputs used in determining the fair value of contingent consideration. Contingent Consideration Liability Valuation Technique Unobservable Input Range (Weighted average) Milestone-based payments Discounted cash flow Discount rate 1.2% - 2.5% (1.5%) Projected year of payment 2021 - 2023 Revenue-based payments Discounted cash flow Discount rate 1.6% - 10.0% (3.2%) Projected year of payment 2021 - 2029
Reconciliation of Changes in Level 3 Financial Liabilities Measured at Fair Value on Recurring Basis	The following table provides information regarding changes in the contingent consideration liabilities during the three months ended March 28, 2021: Contingent consideration Balance - December 31, 2020 $ 36,633 Payments (13,071) Revaluations 6,354 Translation adjustment (153) Balance - March 28, 2021 $ 29,763

Shareholders' equity (Tables)

Shareholders' equity (Tables)	3 Months Ended
Shareholders' equity (Tables)	Mar. 28, 2021
Equity [Abstract]
Reconciliation of Basic to Diluted Weighted Average Common Shares Outstanding	The following table provides a reconciliation of basic to diluted weighted average number of common shares outstanding: Three Months Ended March 28, 2021 March 29, 2020 Basic 46,698 46,382 Dilutive effect of share-based awards 709 849 Diluted 47,407 47,231
Change in Accumulated Other Comprehensive Income (Loss)	The following tables provide information relating to the changes in accumulated other comprehensive loss, net of tax, for the three months ended March 28, 2021 and March 29, 2020: Cash Flow Hedges Pension and Other Postretirement Benefit Plans Foreign Currency Translation Adjustment Accumulated Other Comprehensive (Loss) Income Balance as of December 31, 2020 $ (482) $ (150,257) $ (146,559) $ (297,298) Other comprehensive (loss) income before reclassifications (811) 161 (24,075) (24,725) Amounts reclassified from accumulated other comprehensive income 838 1,450 — 2,288 Net current-period other comprehensive (loss) income 27 1,611 (24,075) (22,437) Balance as of March 28, 2021 $ (455) $ (148,646) $ (170,634) $ (319,735) Cash Flow Hedges Pension and Other Postretirement Benefit Plans Foreign Currency Translation Adjustment Accumulated Other Comprehensive (Loss) Income Balance as of December 31, 2019 $ 735 $ (138,810) $ (206,317) $ (344,392) Other comprehensive income (loss) before reclassifications (3,760) 263 (18,199) (21,696) Amounts reclassified from accumulated other comprehensive loss (57) 1,426 — 1,369 Net current-period other comprehensive income (3,817) 1,689 (18,199) (20,327) Balance as of March 29, 2020 $ (3,082) $ (137,121) $ (224,516) $ (364,719)
Reclassification of Gain/Losses into Income/Expense, Net of Tax	The following table provides information relating to the location in the statements of operations and amount of reclassifications of losses/(gains) in accumulated other comprehensive (loss) income into expense/(income), net of tax, for the three months ended March 28, 2021 and March 29, 2020: Three Months Ended March 28, 2021 March 29, 2020 Losses (gains) on foreign exchange contracts: Cost of goods sold $ 846 $ (66) Total before tax 846 (66) (Benefit) tax (8) 9 Net of tax $ 838 $ (57) Amortization of pension and other postretirement benefit items (1) : Actuarial losses $ 2,143 $ 1,852 Prior-service costs (251) 8 Total before tax 1,892 1,860 Tax benefit (442) (434) Net of tax $ 1,450 $ 1,426 Total reclassifications, net of tax $ 2,288 $ 1,369 (1) These accumulated other comprehensive (loss) income components are included in the computation of net benefit expense for pension and other postretirement benefit plans.

Taxes on income from continui_2

Taxes on income from continuing operations (Tables)	3 Months Ended
Taxes on income from continuing operations (Tables)	Mar. 28, 2021
Income Tax Disclosure [Abstract]
Effective Income Tax Rate	Three Months Ended March 28, 2021 March 29, 2020 Effective income tax rate 14.2% 7.8%

Segment information (Tables)

Segment information (Tables)	3 Months Ended
Segment information (Tables)	Mar. 28, 2021
Segment Reporting [Abstract]
Segment Results	The following tables present our segment results for the three months ended March 28, 2021 and March 29, 2020: Three Months Ended March 28, 2021 March 29, 2020 Americas $ 375,493 $ 358,002 EMEA 141,253 156,124 Asia 63,690 53,129 OEM 53,489 63,387 Net revenues $ 633,925 $ 630,642 Three Months Ended March 28, 2021 March 29, 2020 Americas $ 83,602 $ 140,969 EMEA 22,995 20,419 Asia 14,916 10,232 OEM 12,562 15,099 Total segment operating profit (1) 134,075 186,719 Unallocated expenses (2) (30,641) (29,633) Income from continuing operations before interest and taxes $ 103,434 $ 157,086 (1) Segment operating profit includes segment net revenues from external customers reduced by the segment's standard cost of goods sold, adjusted for fixed manufacturing cost absorption variances, selling, general and administrative expenses, research and development expenses and an allocation of corporate expenses. Corporate expenses are allocated among the segments in proportion to the respective amounts of one of several items (such as net revenues, numbers of employees, and amount of time spent), depending on the category of expense involved. (2) Unallocated expenses primarily include manufacturing variances other than fixed manufacturing cost absorption variances, restructuring and impairment charges and gain on sale of assets.

Net revenues (Details)

Net revenues (Details) - Sales Revenue, Net - Customer Concentration Risk	3 Months Ended
	Mar. 28, 2021
Hospitals And Healthcare Providers
Concentration Risk [Line Items]
Percentage of total revenue	88.00%
Other Medical Device Manufacturers
Concentration Risk [Line Items]
Percentage of total revenue	9.00%
Home Care Providers
Concentration Risk [Line Items]
Percentage of total revenue	3.00%

Net revenues Other revenues (De

Net revenues Other revenues (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Revenue, Major Customer [Line Items]
Net revenues	$ 633,925	$ 630,642
Vascular access
Revenue, Major Customer [Line Items]
Net revenues	163,973	150,256
Anesthesia
Revenue, Major Customer [Line Items]
Net revenues	84,857	75,702
Interventional
Revenue, Major Customer [Line Items]
Net revenues	96,173	99,931
Surgical
Revenue, Major Customer [Line Items]
Net revenues	80,386	75,432
Interventional urology
Revenue, Major Customer [Line Items]
Net revenues	73,364	74,194
OEM
Revenue, Major Customer [Line Items]
Net revenues	53,489	63,389
Other
Revenue, Major Customer [Line Items]
Net revenues	$ 81,683	$ 91,738

Acquisitions (Details)

Acquisitions (Details) - Z-Medica, LLC $ in Millions	Dec. 28, 2020USD ($)
Business Acquisition [Line Items]
Business combination, consideration transferred	$ 500
Maximum additional payment upon completion of certain milestones	$ 25

Restructuring and impairment _3

Restructuring and impairment charges - Additional Information (Detail) - 2021 Restructuring plan $ in Millions	Mar. 28, 2021USD ($)
Termination benefits
Restructuring Cost and Reserve [Line Items]
Restructuring reserve	$ 6.4
Minimum \| Termination benefits
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	7
Minimum \| Other Restructuring costs
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	3
Maximum \| Termination benefits
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	9
Maximum \| Other Restructuring costs
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	$ 4

Restructuring and impairment _4

Restructuring and impairment charges - Expected Costs to be Incurred (Details) $ in Millions	3 Months Ended
	Mar. 28, 2021USD ($)
2019 Footprint realignment plan
Restructuring Cost and Reserve [Line Items]
Aggregate restructuring charges	$ 15.7
Restructuring reserve	7
Restructuring expenses	3.6
Aggregate restructuring related charges	24.7
2019 Footprint realignment plan \| Minimum
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	56
Expected cash outlays	50
Expected capital expenditures	28
2019 Footprint realignment plan \| Maximum
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	63
Expected cash outlays	57
Expected capital expenditures	33
2018 Footprint realignment plan
Restructuring Cost and Reserve [Line Items]
Aggregate restructuring charges	60.3
Restructuring reserve	46
Restructuring expenses	2
Aggregate restructuring related charges	18.7
2018 Footprint realignment plan \| Minimum
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	103
Expected cash outlays	99
Expected capital expenditures	19
2018 Footprint realignment plan \| Maximum
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	133
Expected cash outlays	127
Expected capital expenditures	23
2014 Footprint realignment plan
Restructuring Cost and Reserve [Line Items]
Aggregate restructuring charges	13.6
Restructuring reserve	3.3
Restructuring expenses	0.7
Aggregate restructuring related charges	36.7
2014 Footprint realignment plan \| Minimum
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	52
Expected cash outlays	42
Expected capital expenditures	26
2014 Footprint realignment plan \| Maximum
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	55
Expected cash outlays	46
Expected capital expenditures	27
Termination benefits \| 2019 Footprint realignment plan \| Minimum
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	16
Termination benefits \| 2019 Footprint realignment plan \| Maximum
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	18
Termination benefits \| 2018 Footprint realignment plan \| Minimum
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	60
Termination benefits \| 2018 Footprint realignment plan \| Maximum
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	70
Termination benefits \| 2014 Footprint realignment plan \| Minimum
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	13
Termination benefits \| 2014 Footprint realignment plan \| Maximum
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	13
Other Restructuring costs \| 2019 Footprint realignment plan \| Minimum
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	2
Other Restructuring costs \| 2019 Footprint realignment plan \| Maximum
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	2
Other Restructuring costs \| 2018 Footprint realignment plan \| Minimum
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	3
Other Restructuring costs \| 2018 Footprint realignment plan \| Maximum
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	4
Other Restructuring costs \| 2014 Footprint realignment plan \| Minimum
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	1
Other Restructuring costs \| 2014 Footprint realignment plan \| Maximum
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	2
Special Termination Benefit And Other Restructuring \| 2019 Footprint realignment plan \| Minimum
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	18
Special Termination Benefit And Other Restructuring \| 2019 Footprint realignment plan \| Maximum
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	20
Special Termination Benefit And Other Restructuring \| 2018 Footprint realignment plan \| Minimum
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	63
Special Termination Benefit And Other Restructuring \| 2018 Footprint realignment plan \| Maximum
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	74
Special Termination Benefit And Other Restructuring \| 2014 Footprint realignment plan \| Minimum
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	14
Special Termination Benefit And Other Restructuring \| 2014 Footprint realignment plan \| Maximum
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	15
Accelerated Depreciation And Other Costs \| 2019 Footprint realignment plan \| Minimum
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	38
Accelerated Depreciation And Other Costs \| 2019 Footprint realignment plan \| Maximum
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	43
Accelerated Depreciation And Other Costs \| 2018 Footprint realignment plan \| Minimum
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	40
Accelerated Depreciation And Other Costs \| 2018 Footprint realignment plan \| Maximum
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	59
Accelerated Depreciation And Other Costs \| 2014 Footprint realignment plan \| Minimum
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	38
Accelerated Depreciation And Other Costs \| 2014 Footprint realignment plan \| Maximum
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	$ 40

Restructuring and impairment _5

Restructuring and impairment charges - Charges Recognized (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 7,998	$ 1,346
Termination benefits
Restructuring Cost and Reserve [Line Items]
Restructuring charges	7,202	1,036
Other Restructuring costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges	796	310
2021 Restructuring plan
Restructuring Cost and Reserve [Line Items]
Restructuring charges	6,760
2021 Restructuring plan \| Termination benefits
Restructuring Cost and Reserve [Line Items]
Restructuring charges	6,760
2021 Restructuring plan \| Other Restructuring costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0
2019 Footprint realignment plan
Restructuring Cost and Reserve [Line Items]
Restructuring charges	446	838
2019 Footprint realignment plan \| Termination benefits
Restructuring Cost and Reserve [Line Items]
Restructuring charges	341	829
2019 Footprint realignment plan \| Other Restructuring costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges	105	9
2018 Footprint realignment plan
Restructuring Cost and Reserve [Line Items]
Restructuring charges	312	395
2018 Footprint realignment plan \| Termination benefits
Restructuring Cost and Reserve [Line Items]
Restructuring charges	267	314
2018 Footprint realignment plan \| Other Restructuring costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges	45	81
Other restructuring programs
Restructuring Cost and Reserve [Line Items]
Restructuring charges	480	113
Other restructuring programs \| Termination benefits
Restructuring Cost and Reserve [Line Items]
Restructuring charges	(166)	(107)
Other restructuring programs \| Other Restructuring costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 646	$ 220

Inventories (Detail)

Inventories (Detail) - USD ($) $ in Thousands	Mar. 28, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Raw materials	$ 131,094	$ 132,370
Work-in-process	76,267	75,874
Finished goods	304,923	304,952
Inventories	$ 512,284	$ 513,196

Goodwill and other intangible_3

Goodwill and other intangible assets, net - Changes in carrying amount of goodwill, by reporting segment (Details) $ in Thousands	3 Months Ended
	Mar. 28, 2021USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 2,585,966
Currency translation adjustment	(20,092)
Goodwill, ending balance	2,565,874
Americas
Goodwill [Roll Forward]
Goodwill, beginning balance	1,700,282
Currency translation adjustment	(746)
Goodwill, ending balance	1,699,536
EMEA
Goodwill [Roll Forward]
Goodwill, beginning balance	536,228
Currency translation adjustment	(15,442)
Goodwill, ending balance	520,786
Asia
Goodwill [Roll Forward]
Goodwill, beginning balance	237,446
Currency translation adjustment	(3,904)
Goodwill, ending balance	233,542
OEM
Goodwill [Roll Forward]
Goodwill, beginning balance	112,010
Currency translation adjustment	0
Goodwill, ending balance	$ 112,010

Goodwill and other intangible_4

Goodwill and other intangible assets, net - Components of intangible assets (Details) - USD ($) $ in Thousands	Mar. 28, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 3,522,254	$ 3,534,799
Accumulated Amortization	(1,052,010)	(1,015,053)
In-process research and development
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	28,969	29,627
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets	1,373,922	1,377,943
Accumulated Amortization	(439,068)	(425,692)
Intellectual property
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets	1,456,085	1,458,924
Accumulated Amortization	(500,282)	(479,612)
Distribution rights
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets	23,673	23,866
Accumulated Amortization	(20,284)	(20,280)
Trade names
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets	615,816	619,847
Accumulated Amortization	(69,533)	(65,955)
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets	23,789	24,592
Accumulated Amortization	$ (22,843)	$ (23,514)

Financial instruments - Additio

Financial instruments - Additional Information (Details) € in Millions	3 Months Ended
	Mar. 28, 2021USD ($)	Mar. 29, 2020USD ($)	Dec. 31, 2020USD ($)	Mar. 04, 2019USD ($)Financial_Institution_Counterparty	Mar. 04, 2019EUR (€)Financial_Institution_Counterparty	Oct. 04, 2018USD ($)Financial_Institution_Counterparty	Oct. 04, 2018EUR (€)Financial_Institution_Counterparty
Derivatives Fair Value [Line Items]
Foreign currency translation gain (loss), continuing operations, adjustments, net of tax	$ (24,075,000)	$ (18,199,000)
Interest benefit on swaps designated as net investment hedges	4,647,000	4,874,000
Allowance for credit losses	12,000,000		$ 12,900,000
Allowance for credit losses, current	7,400,000		8,100,000
Cash flow hedging
Derivatives Fair Value [Line Items]
Ineffectiveness related to derivatives	0	0
Foreign exchange contract \| Not Designated as Hedging Instrument
Derivatives Fair Value [Line Items]
Loss related to currency forward contracts	3,200,000
Gain related to currency forward contracts		1,600,000
Total notional amount for all open foreign currency forward contracts	191,300,000		163,500,000
Foreign exchange contract \| Designated as Hedging Instrument \| Cash flow hedging
Derivatives Fair Value [Line Items]
Total notional amount for all open foreign currency forward contracts	131,200,000		$ 129,500,000
Cross-currency interest rate swaps \| Cash flow hedging
Derivatives Fair Value [Line Items]
Foreign currency translation gain (loss), continuing operations, adjustments, net of tax	17,600,000	25,000,000
Cross-currency interest rate swaps \| Not Designated as Hedging Instrument
Derivatives Fair Value [Line Items]
Interest benefit on swaps designated as net investment hedges	$ 4,600,000	$ 4,900,000
Cross-currency interest rate swaps \| Designated as Hedging Instrument
Derivatives Fair Value [Line Items]
Total notional amount for all open foreign currency forward contracts				$ 250,000,000	€ 219.2	$ 500,000,000	€ 433.9
Derivative, number of instruments held \| Financial_Institution_Counterparty				5	5	6	6
Derivative, fixed interest rate				4.875%	4.875%	4.625%	4.625%
Derivative, annual interest rate				2.4595%	2.4595%	1.942%	1.942%

Financial instruments - Fair va

Financial instruments - Fair values of derivative instruments designated as hedging instruments (Details) - USD ($) $ in Thousands	Mar. 28, 2021	Dec. 31, 2020
Cash flow hedging
Derivatives Fair Value [Line Items]
Total asset derivatives	$ 26,885	$ 21,858
Total liability derivatives	13,976	35,995
Foreign exchange contract \| Other liabilities
Derivatives Fair Value [Line Items]
Total liability derivatives	12,054	34,125
Foreign exchange contract \| Cash flow hedging \| Prepaid expenses and other current assets
Derivatives Fair Value [Line Items]
Total asset derivatives	26,885	21,858
Foreign exchange contract \| Cash flow hedging \| Other current liabilities
Derivatives Fair Value [Line Items]
Total liability derivatives	1,922	1,870
Foreign exchange contract \| Designated as Hedging Instrument \| Cash flow hedging \| Prepaid expenses and other current assets
Derivatives Fair Value [Line Items]
Total asset derivatives	1,098	1,691
Foreign exchange contract \| Designated as Hedging Instrument \| Cash flow hedging \| Other current liabilities
Derivatives Fair Value [Line Items]
Total liability derivatives	1,706	1,504
Foreign exchange contract \| Not Designated as Hedging Instrument \| Cash flow hedging \| Prepaid expenses and other current assets
Derivatives Fair Value [Line Items]
Total asset derivatives	212	61
Foreign exchange contract \| Not Designated as Hedging Instrument \| Cash flow hedging \| Other current liabilities
Derivatives Fair Value [Line Items]
Total liability derivatives	216	366
Cross-currency interest rate swaps \| Not Designated as Hedging Instrument \| Cash flow hedging \| Prepaid expenses and other current assets
Derivatives Fair Value [Line Items]
Total asset derivatives	25,575	20,106
Cross-currency interest rate swaps \| Not Designated as Hedging Instrument \| Cash flow hedging \| Other liabilities
Derivatives Fair Value [Line Items]
Total liability derivatives	$ 12,054	$ 34,125

Fair value measurement - Financ

Fair value measurement - Financial assets and liabilities carried at fair value measured on recurring basis (Details) - USD ($) $ in Thousands	Mar. 28, 2021	Dec. 31, 2020
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Investments in marketable securities	$ 13,357	$ 12,617
Derivative assets	26,885	21,858
Derivative liabilities	13,976	35,995
Contingent consideration liabilities	29,763	36,633
Quoted prices in active markets (Level 1)
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Investments in marketable securities	13,357	12,617
Derivative assets	0	0
Derivative liabilities	0	0
Contingent consideration liabilities	0	0
Significant other observable Inputs (Level 2)
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Investments in marketable securities	0	0
Derivative assets	26,885	21,858
Derivative liabilities	13,976	35,995
Contingent consideration liabilities	0	0
Significant unobservable Inputs (Level 3)
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Investments in marketable securities	0	0
Derivative assets	0	0
Derivative liabilities	0	0
Contingent consideration liabilities	$ 29,763	$ 36,633

Fair value measurement - Valuat

Fair value measurement - Valuation technique and inputs used in determining the fair value of contingent consideration (Details) - Discounted cash flow - Discount rate	Mar. 28, 2021
Milestone-based payments \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Business combination, contingent consideration, liability, measurement input	0.012
Milestone-based payments \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Business combination, contingent consideration, liability, measurement input	0.025
Milestone-based payments \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Business combination, contingent consideration, liability, measurement input	0.015
Revenue-based payments \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Business combination, contingent consideration, liability, measurement input	0.016
Revenue-based payments \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Business combination, contingent consideration, liability, measurement input	0.100
Revenue-based payments \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Business combination, contingent consideration, liability, measurement input	0.032

Fair value measurement - Reconc

Fair value measurement - Reconciliation of changes in financial liabilities measured on recurring basis (Details) $ in Thousands	3 Months Ended
	Mar. 28, 2021USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 36,633
Payments	(13,071)
Revaluations	6,354
Translation adjustment	(153)
Ending balance	$ 29,763

Shareholders' equity - Addition

Shareholders' equity - Additional Information (Details) - shares shares in Millions	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Equity [Abstract]
Weighted average antidilutive shares which were not included in the calculation of earnings per share	0.1	0.1

Shareholders' equity - Reconcil

Shareholders' equity - Reconciliation of basic to diluted weighted average common shares outstanding (Details) - shares shares in Thousands	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Equity [Abstract]
Basic (in shares)	46,698	46,382
Dilutive effect of share-based awards (in shares)	709	849
Diluted (in shares)	47,407	47,231

Shareholders' equity - Change i

Shareholders' equity - Change in accumulated other comprehensive income, net of tax (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	$ 3,336,457	$ 2,979,320
Ending Balance	3,375,791	3,073,024
Cash Flow Hedges
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	(482)	735
Other comprehensive (loss) income before reclassifications	(811)	(3,760)
Amounts reclassified from accumulated other comprehensive income	838	(57)
Net current-period other comprehensive (loss) income	27	(3,817)
Ending Balance	(455)	(3,082)
Pension and Other Postretirement Benefit Plans
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	(150,257)	(138,810)
Other comprehensive (loss) income before reclassifications	161	263
Amounts reclassified from accumulated other comprehensive income	1,450	1,426
Net current-period other comprehensive (loss) income	1,611	1,689
Ending Balance	(148,646)	(137,121)
Foreign Currency Translation Adjustment
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	(146,559)	(206,317)
Other comprehensive (loss) income before reclassifications	(24,075)	(18,199)
Amounts reclassified from accumulated other comprehensive income	0	0
Net current-period other comprehensive (loss) income	(24,075)	(18,199)
Ending Balance	(170,634)	(224,516)
Accumulated Other Comprehensive (Loss) Income
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	(297,298)	(344,392)
Other comprehensive (loss) income before reclassifications	(24,725)	(21,696)
Amounts reclassified from accumulated other comprehensive income	2,288	1,369
Net current-period other comprehensive (loss) income	(22,437)	(20,327)
Ending Balance	$ (319,735)	$ (364,719)

Shareholders' equity - Accumula

Shareholders' equity - Accumulated other comprehensive income into income expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cost of goods sold	$ 289,398	$ 297,018
Total before tax	87,295	142,226
(Benefit) tax	(12,428)	(11,074)
Net of tax	74,867	131,152
Reclassification out of Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total reclassifications, net of tax	2,288	1,369
Reclassification out of Accumulated Other Comprehensive Income \| Pension and Other Postretirement Benefits Plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total before tax	1,892	1,860
(Benefit) tax	(442)	(434)
Net of tax	1,450	1,426
Reclassification out of Accumulated Other Comprehensive Income \| Actuarial losses
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total before tax	2,143	1,852
Reclassification out of Accumulated Other Comprehensive Income \| Prior-service costs
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total before tax	(251)	8
Reclassification out of Accumulated Other Comprehensive Income \| Foreign exchange contract \| Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cost of goods sold	846	(66)
Total before tax	846	(66)
(Benefit) tax	(8)	9
Net of tax	$ 838	$ (57)

Taxes on income from continui_3

Taxes on income from continuing operations (Details)	3 Months Ended
Taxes on income from continuing operations (Details)	Mar. 28, 2021	Mar. 29, 2020
Income Tax Disclosure [Abstract]
Effective income tax rate	14.20%	7.80%

Commitments and contingent li_2

Commitments and contingent liabilities (Detail) - USD ($) $ in Millions	Feb. 17, 2021	Mar. 28, 2021
Loss Contingencies [Line Items]
Estimated litigation liability		$ 0.4
Pending Litigation
Loss Contingencies [Line Items]
Money damages sought	$ 66.9
Minimum
Loss Contingencies [Line Items]
Estimated time frame over which accrued amounts may be paid out		10 years
Maximum
Loss Contingencies [Line Items]
Estimated time frame over which accrued amounts may be paid out		15 years
Accrued Liabilities
Loss Contingencies [Line Items]
Accrual for environmental loss contingencies		$ 1.6
Other Liability
Loss Contingencies [Line Items]
Accrual for environmental loss contingencies		$ 5

Segment information (Details)

Segment information (Details) - USD ($) $ in Thousands	3 Months Ended
Segment information (Details) - USD ($) $ in Thousands	Mar. 28, 2021	Mar. 29, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	$ 633,925	$ 630,642
Operating profit	103,434	157,086
Operating Segments
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating profit	134,075	186,719
Unallocated expenses
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating profit	(30,641)	(29,633)
Americas
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	375,493	358,002
Americas \| Operating Segments
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating profit	83,602	140,969
EMEA
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	141,253	156,124
EMEA \| Operating Segments
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating profit	22,995	20,419
Asia
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	63,690	53,129
Asia \| Operating Segments
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating profit	14,916	10,232
OEM
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	53,489	63,387
OEM \| Operating Segments
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating profit	$ 12,562	$ 15,099

Subsequent event (Details)

Subsequent event (Details) - 4.875% Senior Notes due 2026 - Senior Notes - USD ($) $ in Millions	Jun. 01, 2021	Jun. 28, 2021	May 16, 2016
Subsequent Event [Line Items]
Senior notes			$ 400
Debt instrument, stated interest rate			4.875%
Forecast
Subsequent Event [Line Items]
Debt instrument, redemption price, percentage	102.438%
Loss on extinguishment of debt		$ 13