Teleflex (TFX) 10-Q2 Aug 242024 Q2 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	6 Months Ended
Cover Page - shares	Jun. 30, 2024	Jul. 30, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
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		47,117,489
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
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		6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Income Statement [Abstract]
Net revenues	$ 749,691	$ 743,259	$ 1,487,540	$ 1,454,191
Cost of goods sold	333,233	335,436	654,948	654,988
Gross profit	416,458	407,823	832,592	799,203
Selling, general and administrative expenses	250,631	223,306	493,461	456,022
Research and development expenses	41,094	39,448	78,393	80,917
Pension settlement charge	0	0	138,139	0
Restructuring and impairment charges	7,855	1,508	10,514	3,729
Income from continuing operations before interest and taxes	116,878	143,561	112,085	258,535
Interest expense	21,168	17,762	43,851	36,099
Interest income	(1,787)	(1,156)	(3,453)	(1,999)
Income from continuing operations before taxes	97,497	126,955	71,687	224,435
Taxes (benefit) on income from continuing operations	17,332	15,532	(24,219)	35,716
Income from continuing operations	80,165	111,423	95,906	188,719
Operating loss from discontinued operations	(164)	(114)	(751)	(825)
Tax benefit on operating loss from discontinued operations	(37)	(26)	(172)	(189)
Loss from discontinued operations	(127)	(88)	(579)	(636)
Net income	$ 80,038	$ 111,335	$ 95,327	$ 188,083
Basic:
Income from continuing operations (in dollars per share)	$ 1.70	$ 2.37	$ 2.03	$ 4.02
Loss from discontinued operations (in dollars per share)	0	0	(0.01)	(0.02)
Net income (in dollars per share)	1.70	2.37	2.02	4
Diluted:
Income from continuing operations (in dollars per share)	1.69	2.35	2.02	3.99
Loss from discontinued operations (in dollars per share)	0	0	(0.01)	(0.01)
Net income (in dollars per share)	$ 1.69	$ 2.35	$ 2.01	$ 3.98
Weighted average common shares outstanding
Basic (in shares)	47,151	46,981	47,130	46,965
Diluted (in shares)	47,361	47,329	47,378	47,307

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 80,038	$ 111,335	$ 95,327	$ 188,083
Foreign currency:
Foreign currency translation, net of tax of $(1,571), $1,263, $(4,209), and $4,233 for the three and six month periods, respectively	(14,232)	(2,521)	(50,901)	16,049
Pension and other postretirement benefits plans:
Prior service cost recognized in net periodic cost, net of tax of $113, $58, $226, and $117 for the three and six month periods, respectively	(378)	(197)	(757)	(392)
Unamortized gain arising during the period, net of tax of $—, $—, $(2,559) and $— for the three and six month periods, respectively	0	0	8,619	0
Plan settlement charge, net of tax of $—, $—, $(58,065), and $— for the three and six month periods, respectively	0	0	80,074	0
Net loss recognized in net periodic cost, net of tax of $(7), $(477), $(286), and $(953) for the three and six month periods, respectively	3	1,599	924	3,191
Foreign currency translation, net of tax of $(6), $67, $(47), and $130 for the three and six month periods, respectively	9	(207)	116	(391)
Pension and other postretirement benefit plans adjustment, net of tax of $100, $(352), $(60,731), and $(706) for the three and six month periods, respectively	(366)	1,195	88,976	2,408
Derivatives qualifying as hedges:
Derivatives qualifying as hedges, net of tax of $(27), $330, $(145), and $450 for the three and six month periods, respectively	(3,553)	793	(2,875)	3,201
Other comprehensive (loss) income, net of tax:	(18,151)	(533)	35,200	21,658
Comprehensive income	$ 61,887	$ 110,802	$ 130,527	$ 209,741

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Statement of Comprehensive Income [Abstract]
Foreign currency translation, tax	$ (1,571)	$ 1,263	$ (4,209)	$ 4,233
Prior service cost recognized in net periodic cost, tax	113	58	226	117
Unamortized (loss) gain arising during the period, tax	0	0	(2,559)	0
Plan amendments, curtailments, and settlements, tax	0	0	(58,065)	0
Net loss recognized in net periodic cost, tax	(7)	(477)	(286)	(953)
Foreign currency translation, tax	(6)	67	(47)	130
Pension and other postretirement benefits plans adjustment, tax	100	(352)	(60,731)	(706)
Derivatives qualifying as hedges, tax	$ (27)	$ 330	$ (145)	$ 450

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 238,567	$ 222,848
Accounts receivable, net	448,897	443,467
Inventories	636,908	626,216
Prepaid expenses and other current assets	94,826	107,471
Prepaid taxes	18,890	7,404
Total current assets	1,438,088	1,407,406
Property, plant and equipment, net	491,996	479,913
Operating lease assets	112,010	123,521
Goodwill	2,892,629	2,914,055
Intangible assets, net	2,379,916	2,501,960
Deferred tax assets	6,424	6,748
Other assets	120,577	98,943
Total assets	7,441,640	7,532,546
Current liabilities
Current borrowings	93,750	87,500
Accounts payable	113,450	132,247
Accrued expenses	153,403	146,880
Payroll and benefit-related liabilities	113,112	146,535
Accrued interest	5,771	5,583
Income taxes payable	19,731	41,453
Other current liabilities	57,534	46,547
Total current liabilities	556,751	606,745
Long-term borrowings	1,624,222	1,727,572
Deferred tax liabilities	453,028	456,080
Pension and postretirement benefit liabilities	23,026	23,989
Noncurrent liability for uncertain tax positions	3,271	3,370
Noncurrent operating lease liabilities	102,572	111,300
Other liabilities	120,051	162,502
Total liabilities	2,882,921	3,091,558
Commitments and contingencies
Total shareholders' equity	4,558,719	4,440,988
Total liabilities and shareholders' equity	$ 7,441,640	$ 7,532,546

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023
Cash flows from operating activities of continuing operations:
Net income	$ 95,327	$ 188,083
Adjustments to reconcile net income to net cash provided by operating activities:
Loss from discontinued operations	579	636
Depreciation expense	34,487	36,723
Intangible asset amortization expense	99,686	83,600
Deferred financing costs and debt discount amortization expense	1,716	1,700
Pension settlement charge	138,139	0
Fair value step up of acquired inventory sold	1,722	0
Changes in contingent consideration	5,852	(6,776)
Asset impairment charges	2,110	0
Stock-based compensation	15,739	14,020
Deferred income taxes, net	(62,953)	460
Interest benefit on swaps designated as net investment hedges	(8,000)	(10,288)
Other	2,168	2,824
Changes in assets and liabilities, net of effects of acquisitions and disposals:
Accounts receivable	(11,238)	(16,587)
Inventories	(23,775)	(45,630)
Prepaid expenses and other assets	11,443	12,120
Accounts payable, accrued expenses and other liabilities	(34,157)	(53,766)
Income taxes receivable and payable, net	(64,313)	(36,501)
Net cash provided by operating activities from continuing operations	204,532	170,618
Cash flows from investing activities of continuing operations:
Expenditures for property, plant and equipment	(73,232)	(39,374)
Payments for businesses and intangibles acquired, net of cash acquired	(70)	(129)
Net proceeds on swaps designated as net investment hedges	18,262	10,275
Proceeds from sales of investments	7,300	0
Purchase of investments	7,300	0
Net cash used in investing activities from continuing operations	(55,040)	(29,228)
Cash flows from financing activities of continuing operations:
Reduction in borrowings	(98,250)	(154,500)
Net proceeds from share based compensation plans and related tax impacts	2,398	572
Payments for contingent consideration	(122)	(121)
Dividends paid	(32,018)	(31,941)
Net cash used in financing activities from continuing operations	(127,992)	(185,990)
Cash flows from discontinued operations:
Net cash used in operating activities	(2,239)	(454)
Net cash used in discontinued operations	(2,239)	(454)
Effect of exchange rate changes on cash and cash equivalents	(3,542)	3,836
Net increase (decrease) in cash and cash equivalents	15,719	(41,218)
Cash and cash equivalents at the beginning of the period	222,848	292,034
Cash and cash equivalents at the end of the period	$ 238,567	$ 250,816

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid In Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Treasury Stock
Common stock, shares, issued, beginning balance (in shares) at Dec. 31, 2022		47,957
Beginning balance at Dec. 31, 2022	$ 4,021,968	$ 47,957	$ 715,118	$ 3,817,304	$ (403,522)	$ (154,889)
Treasury stock, common, shares beginning balance (in shares) at Dec. 31, 2022						1,032
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	76,748			76,748
Cash dividends	(15,969)			(15,969)
Other comprehensive income (loss)	22,191				22,191
Shares issued under compensation plans (in shares)		18				(19)
Shares issued under compensation plans	4,990	$ 18	2,333			$ 2,639
Deferred compensation	325		324			$ 1
Deferred compensation (in shares)						(6)
Common stock, shares, issued, ending balance (in shares) at Apr. 02, 2023		47,975
Ending balance at Apr. 02, 2023	4,110,253	$ 47,975	717,775	3,878,083	(381,331)	$ (152,249)
Treasury stock, common, shares ending balance (in shares) at Apr. 02, 2023						1,007
Common stock, shares, issued, beginning balance (in shares) at Dec. 31, 2022		47,957
Beginning balance at Dec. 31, 2022	4,021,968	$ 47,957	715,118	3,817,304	(403,522)	$ (154,889)
Treasury stock, common, shares beginning balance (in shares) at Dec. 31, 2022						1,032
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	188,083
Other comprehensive income (loss)	21,658
Common stock, shares, issued, ending balance (in shares) at Jul. 02, 2023		47,998
Ending balance at Jul. 02, 2023	4,215,092	$ 47,998	727,695	3,973,446	(381,864)	$ (152,183)
Treasury stock, common, shares ending balance (in shares) at Jul. 02, 2023						1,007
Common stock, shares, issued, beginning balance (in shares) at Apr. 02, 2023		47,975
Beginning balance at Apr. 02, 2023	4,110,253	$ 47,975	717,775	3,878,083	(381,331)	$ (152,249)
Treasury stock, common, shares beginning balance (in shares) at Apr. 02, 2023						1,007
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	111,335			111,335
Cash dividends	(15,972)			(15,972)
Other comprehensive income (loss)	(533)				(533)
Shares issued under compensation plans (in shares)		23
Shares issued under compensation plans	10,009	$ 23	9,920			$ 66
Common stock, shares, issued, ending balance (in shares) at Jul. 02, 2023		47,998
Ending balance at Jul. 02, 2023	4,215,092	$ 47,998	727,695	3,973,446	(381,864)	$ (152,183)
Treasury stock, common, shares ending balance (in shares) at Jul. 02, 2023						1,007
Common stock, shares, issued, beginning balance (in shares) at Dec. 31, 2023		48,046
Beginning balance at Dec. 31, 2023	4,440,988	$ 48,046	749,712	4,109,736	(314,405)	$ (152,101)
Treasury stock, common, shares beginning balance (in shares) at Dec. 31, 2023						1,006
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	15,289			15,289
Cash dividends	(16,001)			(16,001)
Other comprehensive income (loss)	53,351				53,351
Shares issued under compensation plans (in shares)		35				(21)
Shares issued under compensation plans	8,445	$ 35	6,166			$ 2,244
Deferred compensation	1,138		347			$ 791
Deferred compensation (in shares)						(5)
Common stock, shares, issued, ending balance (in shares) at Mar. 31, 2024		48,081
Ending balance at Mar. 31, 2024	4,503,210	$ 48,081	756,225	4,109,024	(261,054)	$ (149,066)
Treasury stock, common, shares ending balance (in shares) at Mar. 31, 2024						980
Common stock, shares, issued, beginning balance (in shares) at Dec. 31, 2023		48,046
Beginning balance at Dec. 31, 2023	4,440,988	$ 48,046	749,712	4,109,736	(314,405)	$ (152,101)
Treasury stock, common, shares beginning balance (in shares) at Dec. 31, 2023						1,006
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	95,327
Other comprehensive income (loss)	35,200
Common stock, shares, issued, ending balance (in shares) at Jun. 30, 2024		48,091
Ending balance at Jun. 30, 2024	4,558,719	$ 48,091	765,194	4,173,045	(279,205)	$ (148,406)
Treasury stock, common, shares ending balance (in shares) at Jun. 30, 2024						975
Common stock, shares, issued, beginning balance (in shares) at Mar. 31, 2024		48,081
Beginning balance at Mar. 31, 2024	4,503,210	$ 48,081	756,225	4,109,024	(261,054)	$ (149,066)
Treasury stock, common, shares beginning balance (in shares) at Mar. 31, 2024						980
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	80,038			80,038
Cash dividends	(16,017)			(16,017)
Other comprehensive income (loss)	(18,151)				(18,151)
Shares issued under compensation plans (in shares)		10				(5)
Shares issued under compensation plans	9,632	$ 10	8,967			$ 655
Deferred compensation	7		2			5
Common stock, shares, issued, ending balance (in shares) at Jun. 30, 2024		48,091
Ending balance at Jun. 30, 2024	$ 4,558,719	$ 48,091	$ 765,194	$ 4,173,045	$ (279,205)	$ (148,406)
Treasury stock, common, shares ending balance (in shares) at Jun. 30, 2024						975

CONDENSED CONSOLIDATED STATEM_6

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jul. 02, 2023	Apr. 02, 2023
Statement of Stockholders' Equity [Abstract]
Dividends per share (in dollars per share)	$ 0.34	$ 0.34	$ 0.34	$ 0.34

Basis of presentation

Basis of presentation	6 Months Ended
Basis of presentation	Jun. 30, 2024
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, 2023.

Recently issued accounting stan

Recently issued accounting standards	6 Months Ended
Recently issued accounting standards	Jun. 30, 2024
Accounting Standards Update and Change in Accounting Principle [Abstract]
Recently issued accounting standards	Recently issued accounting standards In November 2023, the Financial Accounting Standard Board ("FASB") issued new guidance designed to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant expenses per segment. The guidance is effective for all fiscal years beginning after December 15, 2023, and for interim periods beginning after December 15, 2024. The new standard must be adopted on a retrospective basis and early adoption is permitted. We are currently evaluating this guidance to determine its impact on our consolidated financial statements. In December 2023, the FASB issued new guidance designed to improve income tax disclosure requirements, primarily through increased disaggregation disclosures within the effective tax rate reconciliation as well as enhanced disclosures on income taxes paid. The guidance is effective for all fiscal years beginning after December 15, 2024. The new standard can be adopted on a prospective basis with an option for it to be adopted retrospectively and early adoption is permitted. We are currently evaluating this guidance to determine its impact on our consolidated financial statements. In March 2024, the SEC adopted final rules that require registrants to include certain climate-related disclosures in registration statements and annual reports. The required disclosures include information about a registrant's climate-related risks that are reasonably likely to have a material impact on its business, results of operations or financial condition. The required information about climate-related risks will also include disclosure of a registrant's greenhouse gas emissions and will require registrants to present certain climate-related financial disclosures in their audited financial statements. The rules were to be effective for all fiscal years beginning in 2025. However, following the adoption of the rules, challenges to the rules were brought in six federal appellate courts. These challenges were consolidated for review in the U.S. Court of Appeals for the Eighth Circuit. Additional cases have been filed since the consolidation order. On April 4, 2024, the SEC announced that it had stayed the rules pending the completion of judicial review of the consolidated Eighth Circuit petitions. We plan to monitor the status of these rules, and, as appropriate, to evaluate the rules to determine their impact on our 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, believe the new guidance will not have a material impact on the consolidated results of operations, cash flows or financial position.

Net revenues

Net revenues	6 Months Ended
Net revenues	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Net revenues	Net revenues We 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 constituted 86%, 12% and 2% of consolidated net revenues, respectively, for the six months ended June 30, 2024. 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 and six months ended June 30, 2024 and July 2, 2023. Three Months Ended Six Months Ended June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 Vascular access $ 181,105 $ 173,785 $ 362,459 $ 351,437 Interventional 141,157 124,780 275,822 241,677 Anesthesia 102,491 100,842 198,843 194,174 Surgical 111,304 105,953 216,828 204,976 Interventional urology 83,104 77,819 162,846 153,197 OEM 88,825 84,128 176,522 161,125 Other (1) 41,705 75,952 94,220 147,605 Net revenues (2) $ 749,691 $ 743,259 $ 1,487,540 $ 1,454,191 (1) Includes revenues generated from sales of our respiratory and urology products (other than interventional urology products) and sales pursuant to the manufacturing and supply transition agreement related to our Respiratory business divestiture. In 2024, amounts reflect the impact from increases in our reserves related to the Italian payback measure pertaining to prior years discussed in Note 13. (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 includes net revenues from each of the non-OEM product categories listed above.

Acquisition

Acquisition	6 Months Ended
Acquisition	Jun. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]
Acquisition	Acquisition 2023 acquisition In the fourth quarter of 2023, we completed the acquisition of Palette Life Sciences AB (“Palette”), a privately held medical device company that sells a portfolio of hyaluronic acid gel-based products primarily utilized in the treatment of urology diseases including a rectal spacing product used in connection with radiation therapy treatment of prostate cancer. Under the terms of the agreement, we acquired Palette for an initial cash payment of $594.9 million, with the potential to make two milestone payments up to $50 million in the aggregate if certain commercial milestones are met. The milestone payments are based on net sales growth over the two-year period beginning January 1, 2024. We are continuing to evaluate the fair value of the acquired assets and liabilities assumed in connection with the acquisition. Additionally, the purchase accounting for this acquisition remains incomplete with respect to the consideration transferred as we have not reached an agreement on the closing statement adjustments with the seller. Any adjustments to the consideration transferred during the measurement period will be recognized in the reporting period in which they are settled.

Restructuring and impairment ch

Restructuring and impairment charges	6 Months Ended
Restructuring and impairment charges	Jun. 30, 2024
Restructuring and Related Activities [Abstract]
Restructuring and impairment charges	Restructuring and impairment charges 2024 Footprint realignment plan During the second quarter of 2024, we initiated the "2024 Footprint realignment plan," encompassing several strategic restructuring initiatives. These initiatives primarily include the relocation of select manufacturing operations to existing lower-cost locations, the optimization of specific product portfolios through targeted rationalization efforts, the relocation of certain integral product development and manufacturing support functions, the optimization of certain supply chain activities and related workforce reductions. The actions under the 2024 Footprint realignment plan are expected to be substantially completed by the end of 2025. The following table provides a summary of our estimates of restructuring and restructuring related charges by major type of expense associated with the 2024 Footprint realignment plan: Total estimated amount expected to be incurred Program expense estimates: Restructuring charges (1) $16 million to $20 million Restructuring related charges (2) $21 million to $26 million Total restructuring and restructuring related charges $37 million to $46 million (1) Substantially all of the charges consist of employee termination benefit costs. (2) Consists of pre-tax charges related to accelerated depreciation and other costs directly related to the plan, primarily project management costs and costs to relocate manufacturing operations and support functions to the new locations. Substantially all of the charges are expected to be recognized within costs of goods sold. We expect the restructuring and restructuring related charges will result in future cash outlays ranging from $31 million to $38 million, with the majority anticipated to occur between 2025 and 2026. Furthermore, we expect to incur $13 million to $16 million in aggregate capital expenditures under the plan, with the bulk of these expenses expected to occur during 2024 and 2025. For the three and six months ended June 30, 2024, we incurred $1.1 million under the 2024 Footprint realignment plan in pre-tax restructuring related charges, substantially all of which was recognized in cost of goods sold. 2023 Footprint realignment plan In September 2023, we initiated a restructuring plan primarily involving the relocation of certain manufacturing operations to existing lower-cost locations, the outsourcing of certain manufacturing processes and related workforce reductions (the "2023 Footprint realignment plan"). These actions are expected to be substantially completed by the end of 2027. The following table provides a summary of our estimates of restructuring and restructuring related charges by major type of expense associated with the 2023 Footprint realignment plan: Total estimated amount expected to be incurred Program expense estimates: Restructuring charges (1) $4 million to $6 million Restructuring related charges (2) $7 million to $9 million Total restructuring and restructuring related charges $11 million to $15 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 2023 Footprint realignment plan and principally constitute costs to transfer manufacturing operations to existing lower-cost locations and project management costs. Substantially all of these charges are expected to be recognized within cost of goods sold. Additionally, we expect to incur $2 million to $3 million in aggregate capital expenditures under the plan. For the three and six months ended June 30, 2024, respectively, we incurred $0.6 million and $1.1 million under the 2023 Footprint realignment plan in pre-tax restructuring related charges, all of which were recognized in cost of goods sold. As of June 30, 2024, we have incurred aggregate restructuring charges in connection with the 2023 Footprint realignment plan of $2.2 million. In addition, as of June 30, 2024, we have incurred aggregate restructuring related charges of $1.2 million with respect to the 2023 Footprint realignment plan, consisting of certain costs that principally resulted from the transfer of manufacturing operations to new locations. As of June 30, 2024, we had a restructuring reserve of $2.1 million related to this plan, all of which related to termination benefits. 2023 Restructuring plan In December 2023, we initiated a restructuring plan, which primarily involved the integration of Palette into Teleflex and workforce reductions designed to improve operating performance across the organization by creating efficiencies that align with evolving market demands and our strategy to enhance long-term value creation (the “2023 restructuring plan”). The plan is substantially complete and as a result, we expect future restructuring expenses associated with the plan to be immaterial. Restructuring and impairment charges recognized for the three and six months ended June 30, 2024 and July 2, 2023 consisted of the following: Three Months Ended June 30, 2024 Termination Benefits Other Costs (1) Total 2024 Footprint realignment plan $ 8,572 $ — $ 8,572 2023 Restructuring plan (974) 36 (938) 2023 Footprint realignment plan 588 1 589 Other restructuring programs (2) (373) 5 (368) Restructuring charges $ 7,813 $ 42 $ 7,855 Three Months Ended July 2, 2023 Termination Benefits Other Costs (1) Total 2022 Restructuring plan $ 984 $ 138 $ 1,122 Respiratory divestiture plan 127 — 127 Other restructuring programs (3) 73 186 259 Restructuring charges $ 1,184 $ 324 $ 1,508 Six Months Ended June 30, 2024 Termination Benefits Other Costs (1) Total 2024 Footprint realignment plan $ 8,572 $ — $ 8,572 2023 Restructuring plan (818) 82 (736) 2023 Footprint realignment plan 743 3 746 Other restructuring programs (2) (208) 30 (178) Restructuring charges 8,289 115 8,404 Asset impairment charges — 2,110 2,110 Restructuring and impairment charges $ 8,289 $ 2,225 $ 10,514 Six Months Ended July 2, 2023 Termination Benefits Other Costs (1) Total 2022 Restructuring plan $ 3,117 $ 211 $ 3,328 Respiratory divestiture plan 255 12 267 Other restructuring programs (3) (241) 375 134 Restructuring charges $ 3,131 $ 598 $ 3,729 (1) Other costs include facility closure, contract termination and other exit costs. (2) Includes activity primarily related to our 2022 Restructuring plan, which has concluded. (3) Includes activity primarily related to our 2014, 2018, and 2019 Footprint realignment plans, all of which have concluded. Impairment charge For the six months ended June 30, 2024, we recorded an impairment charge of $2.1 million related to a portion of our operating lease assets stemming from our cessation of occupancy of a specific facility.

Inventories

Inventories	6 Months Ended
Inventories	Jun. 30, 2024
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories as of June 30, 2024 and December 31, 2023 consisted of the following: June 30, 2024 December 31, 2023 Raw materials $ 179,337 $ 179,517 Work-in-process 119,153 111,132 Finished goods 338,418 335,567 Inventories $ 636,908 $ 626,216

Goodwill and other intangible a

Goodwill and other intangible assets	6 Months Ended
Goodwill and other intangible assets	Jun. 30, 2024
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 six months ended June 30, 2024: Americas EMEA Asia OEM Total December 31, 2023 $ 2,068,072 $ 487,744 $ 246,229 $ 112,010 $ 2,914,055 Currency translation adjustment (2,172) (10,857) (8,397) — (21,426) June 30, 2024 $ 2,065,900 $ 476,887 $ 237,832 $ 112,010 $ 2,892,629 Our goodwill impairment testing is performed annually during the fourth quarter of each fiscal year in addition to periods where changes in circumstances indicate that the carrying value of our goodwill assets may not be recoverable. No impairment charges were recognized during the three and six months ended June 30, 2024. We did identify indicators of a potential impairment as of June 30, 2024 related to our Interventional Urology North America reporting unit, included within our Americas operating segment. The indicators of a potential impairment primarily arose from lower than anticipated sales results from our UroLift product line (“UroLift”), primarily driven by the adverse impact of persistent end-market challenges within the U.S. office site of service. We performed a quantitative impairment test of the reporting unit using both the income and the market approaches, which determined that the fair value of the reporting unit exceeded the carrying value. The more significant judgments and assumptions in determining the fair value included the amount and timing of expected future cash flows, the expected long-term growth rates and the discount rate used to estimate the present value of the future cash flows. Our assessment indicates that the Interventional Urology North America reporting unit is susceptible to future impairment charges if future revenue is lower than our current expectations, in particular with respect to the adverse impacts stemming from end market conditions related to UroLift, as well as from continuing negative impacts from macroeconomic factors, including increased inflation and higher interest rates. The carrying value of goodwill allocated to the Interventional Urology North America reporting unit as of June 30, 2024 was $645.9 million. The gross carrying amount of, and accumulated amortization relating to, intangible assets as of June 30, 2024 and December 31, 2023 were as follows: Gross Carrying Amount Accumulated Amortization June 30, 2024 December 31, 2023 June 30, 2024 December 31, 2023 Customer relationships $ 1,358,377 $ 1,363,839 $ (591,302) $ (561,753) In-process research and development 23,666 27,476 — — Intellectual property 1,878,931 1,890,957 (804,090) (745,094) Distribution rights 23,155 23,301 (22,289) (22,048) Trade names 605,642 610,146 (92,174) (84,864) Non-compete agreements 21,917 21,934 (21,917) (21,934) $ 3,911,688 $ 3,937,653 $ (1,531,772) $ (1,435,693)

Financial instruments

Financial instruments	6 Months Ended
Financial instruments	Jun. 30, 2024
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 and six months ended June 30, 2024, we recognized a loss of $0.1 million and a gain of $3.5 million respectively, related to non-designated foreign currency forward contracts. For the three and six months ended July 2, 2023, we recognized gains of $2.0 million and $2.1 million, respectively, 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 June 30, 2024 and December 31, 2023 was $302.2 million and $234.1 million, respectively. The total notional amount for all open non-designated foreign currency forward contracts as of June 30, 2024 and December 31, 2023 was $173.4 million and $195.0 million, respectively. All open foreign currency forward contracts as of June 30, 2024 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 (the "2019 Cross-currency swaps"). Under the terms of the cross-currency swap agreements, we notionally exchanged $250 million at an annual interest rate of 4.88% for €219.2 million at an annual interest rate of 2.46%. The swap agreements are designed as net investment hedges. On February 26, 2024, the agreements related to our 2019 Cross-currency swap with an original maturity date of March 4, 2024 were terminated resulting in $12.1 million in cash settlement proceeds. On February 26, 2024, we executed two separate term cross-currency swap agreements set to expire on February 26, 2027 and February 28, 2029, respectively, to hedge against the effect of variability in the U.S. dollar to euro exchange rate. Each of the swap agreements had a notional principal amount of $250 million and were designated as a net investment hedge. On April 25, 2024, the cross-currency agreements executed in February 2024 were terminated in response to changes in market conditions, resulting in $0.4 million in a cash settlement payment and we simultaneously executed two new separate term cross-currency swap agreements with the same expiration dates and notional values (together, the "2024 Cross-currency swap agreements"). The cross-currency swap agreements expiring in 2027 include five different financial institution counterparties and notionally exchanged $250 million at an annual interest rate of 4.25% for €233.4 million at an annual interest rate of 2.44%. The cross-currency swap agreements expiring in 2029 include four different financial institution counterparties and notionally exchanged $250 million at an annual interest rate of 4.25% for €233.4 million at an annual interest rate of 2.45%. Both of the 2024 Cross-currency swap agreements are designated as a net investment hedge. During 2023, we executed 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, (the "2023 Cross-currency swaps"). Under the terms of the cross-currency swap agreements, we have notionally exchanged $500 million at an annual interest rate of 4.63% for €474.7 million at an annual interest rate of 3.05%. The swap agreements are designated as net investment hedges and expire on October 4, 2025. In 2023, we entered into a zero cost foreign exchange collar contract that aligns with the notional amount and expiration date of the 2023 Cross-currency swaps. We sold a put option with a lower strike price and bought a call option with a higher strike price to manage the foreign exchange risk related to the final settlement of the $500 million notional cross currency swaps. Upon the execution of the zero cost foreign exchange collar contract, we have de-designated the 2023 Cross-currency swaps and re-designated the combined $500 million notional cross currency swaps and zero cost collar into a new hedging instrument. At redesignation, the existing $500 million notional cross-currency swaps were off-market due to changes in foreign exchange rates and interest rates. The off-market value due to interest rates will be amortized ratably into earnings through October 2025 and the off-market value due to foreign exchange rates will remain in accumulated other comprehensive income until the underlying net investment is sold. The combined cross-currency swaps and zero cost collar have been designated as a net investment hedge for accounting purposes. 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"). The following table summarizes the foreign exchange gains and losses recognized within AOCI and the interest benefit recognized within interest expense related to cross currency swap for the three and six months ended June 30, 2024 and July 2, 2023: Three Months Ended Six Months Ended June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 Foreign exchange gain (loss) $ 5,297 $ (4,259) $ 14,190 $ (14,290) Interest benefit 4,280 5,180 8,000 10,288 Balance sheet presentation The following table presents the locations in the condensed consolidated balance sheet and fair value of derivative financial instruments as of June 30, 2024 and December 31, 2023: June 30, 2024 December 31, 2023 Fair Value Asset derivatives: Designated foreign currency forward contracts $ 1,539 $ 1,629 Non-designated foreign currency forward contracts 206 937 Cross-currency interest rate swaps 16,409 16,883 Prepaid expenses and other current assets 18,154 19,449 Cross-currency interest rate swaps 1,151 — Other assets 1,151 — Total asset derivatives $ 19,305 $ 19,449 Liability derivatives: Designated foreign currency forward contracts $ 3,024 $ 1,866 Non-designated foreign currency forward contracts 320 1,340 Other current liabilities 3,344 3,206 Cross-currency interest rate swaps 24,637 32,097 Other liabilities 24,637 32,097 Total liability derivatives $ 27,981 $ 35,303 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 and six months ended June 30, 2024 and July 2, 2023. Trade receivables

Fair value measurement

Fair value measurement	6 Months Ended
Fair value measurement	Jun. 30, 2024
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 June 30, 2024 and December 31, 2023: Total carrying value at June 30, 2024 Quoted prices in active Significant other Significant Investments in marketable securities $ 559 $ 559 $ — $ — Derivative assets 19,305 — 19,305 — Derivative liabilities 27,981 — 27,981 — Contingent consideration liabilities 45,216 — — 45,216 Total carrying Quoted prices in active Significant other Significant Investments in marketable securities $ 5,306 $ 5,306 $ — $ — Derivative assets 19,449 — 19,449 — Derivative liabilities 35,303 — 35,303 — Contingent consideration liabilities 39,486 — — 39,486 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 forward contracts and cross-currency interest rate swap agreements 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 swap agreements 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 are comprised of contingent consideration arrangements pertaining to our acquisitions. 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 revenue growth rates (based on internal operational budgets and long-range strategic plans), revenue volatility, discount rates, probability of payment and projected payment dates. We determine the fair value of certain contingent consideration liabilities using a Monte Carlo simulation (which involves a simulation of future revenues during the earn-out period using management's best estimates) or discounted cash flow analysis. Increases in projected revenues, estimated cash flows and probabilities of payment may result in significantly higher fair value measurements; decreases in these items may have the opposite effect. Increases in the discount rates in periods prior to payment may result in significantly lower fair value measurements and decreases in the discount rates may have the opposite effect. The table below provides additional information regarding the valuation technique and inputs used in determining the fair value of our significant contingent consideration liabilities. Contingent Consideration Liability Valuation Technique Unobservable Input Range (Weighted average) Revenue-based Monte Carlo simulation Revenue volatility 19.1% - 30.4% (20.8%) Risk free rate Cost of debt structure Projected year of payment 2025 - 2026 The following table provides information regarding changes in our contingent consideration liabilities for the six months ended June 30, 2024: Contingent consideration Balance – December 31, 2023 $ 39,486 Payments (122) Revaluations 5,852 Balance – June 30, 2024 $ 45,216

Shareholders' equity

Shareholders' equity	6 Months Ended
Shareholders' equity	Jun. 30, 2024
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 Six Months Ended June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 Basic 47,151 46,981 47,130 46,965 Dilutive effect of share-based awards 210 348 248 342 Diluted 47,361 47,329 47,378 47,307 The weighted average number of shares that were antidilutive and therefore excluded from the calculation of earnings per share were 0.9 million for the three and six months ended June 30, 2024 and 0.7 million for the three and six months ended July 2, 2023. On July 30, 2024, the Board of Directors authorized a share repurchase program for up to $500 million of our common stock. The timing, price and actual number of shares of common stock that may be repurchased under the share repurchase authorization will depend on a variety of factors including price, market conditions and corporate and regulatory requirements. The repurchases may occur in open market transactions, transactions structured through investment banking institutions, in privately negotiated transactions, by direct purchases of common stock or a combination of the foregoing, and the timing and amount of stock repurchased will depend on market and business conditions, applicable legal and credit requirements and other corporate considerations. The authorization of the repurchase program does not constitute a binding obligation to acquire any specific amount of common stock, and the repurchase program may be suspended or discontinued at any time. On August 2, 2024, we entered into an accelerated share repurchase agreement for $200 million of our common stock. The following tables provide information relating to the changes in accumulated other comprehensive loss, net of tax, for the six months ended June 30, 2024 and July 2, 2023: Cash Flow Hedges Pension and Other Postretirement Benefit Plans Foreign Currency Translation Adjustment Accumulated Other Comprehensive (Loss) Income Balance as of December 31, 2023 $ 1,396 $ (88,049) $ (227,752) $ (314,405) Other comprehensive income (loss) before reclassifications (780) 8,735 (50,901) (42,946) Amounts reclassified from accumulated other comprehensive (loss) income (2,095) 80,241 — 78,146 Net current-period other comprehensive income (loss) (2,875) 88,976 (50,901) 35,200 Balance as of June 30, 2024 $ (1,479) $ 927 $ (278,653) $ (279,205) Cash Flow Hedges Pension and Other Postretirement Benefit Plans Foreign Currency Translation Adjustment Accumulated Other Comprehensive (Loss) Income Balance as of December 31, 2022 $ 4,931 $ (135,799) $ (272,654) $ (403,522) Other comprehensive income (loss) before reclassifications 8,056 (388) 16,049 23,717 Amounts reclassified from accumulated other comprehensive income (4,855) 2,796 — (2,059) Net current-period other comprehensive income 3,201 2,408 16,049 21,658 Balance as of July 2, 2023 $ 8,132 $ (133,391) $ (256,605) $ (381,864) 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 (income) expense, net of tax, for the three and six months ended June 30, 2024 and July 2, 2023: Three Months Ended Six Months Ended June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 (Gains) Loss on foreign exchange contracts: Cost of goods sold $ (347) $ (2,181) $ (2,109) $ (5,235) Total before tax (347) (2,181) (2,109) (5,235) Taxes 31 178 14 380 Net of tax (316) (2,003) (2,095) (4,855) Pension and other postretirement benefit items (1) : Actuarial losses 9 2,069 1,210 4,135 Prior-service costs (491) (252) (983) (504) Settlements — — 138,139 — Total before tax (482) 1,817 138,366 3,631 Tax benefit 107 (418) (58,125) (835) Net of tax (375) 1,399 80,241 2,796 Total reclassifications, net of tax $ (691) $ (604) $ 78,146 $ (2,059) (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	6 Months Ended
Taxes on income from continuing operations	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Taxes on income from continuing operations	Taxes on income from continuing operations Three Months Ended Six Months Ended June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 Effective income tax rate (1) 17.8% 12.2% (33.8)% 15.9% (1) The effective income tax rate for the three months ended June 30, 2024 and the three and six months ended July 2, 2023 represent income tax expenses. The effective income tax rate for the six months ended June 30, 2024 represents an income tax benefit. The effective income tax rates for the three and six months ended June 30, 2024 were 17.8% and (33.8)%, respectively. The effective income tax rate for the six months ended June 30, 2024 reflects a tax benefit associated with a pension charge recognized in connection with the termination of the TRIP. The effective income tax rates for the three and six months ended July 2, 2023 reflect the tax impact of a non-taxable contingent consideration adjustment recognized in connection with a decrease in the estimated fair value of our contingent consideration liabilities. Additionally, the effective tax rates for the three and six months ended July 2, 2023 reflect a net-tax benefit related to share-based compensation. The effective income tax rates for all periods reflect a tax benefit from research and development tax credits.

Pension and other postretiremen

Pension and other postretirement benefits	6 Months Ended
Pension and other postretirement benefits	Jun. 30, 2024
Retirement Benefits [Abstract]
Pension and other postretirement benefits	Pension and other postretirement benefits We have a number of defined benefit pension and postretirement plans covering eligible U.S. and non-U.S. employees. The defined benefit pension plans are noncontributory. The benefits under these plans are based primarily on years of service and employees’ pay near retirement. Our funding policy for U.S. plans is to contribute annually, at a minimum, amounts required by applicable laws and regulations. Obligations under non-U.S. plans are systematically provided for by depositing funds with trustees or by book reserves. As of March 31, 2024, no further benefits are being accrued under the U.S. defined benefit pension plans and the other postretirement benefit plans, other than certain postretirement benefit plans covering employees subject to a collective bargaining agreement. In 2023, we began the execution of a plan to terminate the Teleflex Incorporated Retirement Income Plan (the “TRIP”), a U.S. defined benefit pension plan. The TRIP is subject to Title IV of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and, therefore, must be terminated in accordance with the requirements of ERISA and the process governed by the Pension Benefit Guaranty Corporation (the “PBGC”). The termination date of the TRIP was August 1, 2023, which is the date upon which the timing of the requirements for the formal termination process is based. On September 8, 2023, we filed the required notice regarding the TRIP termination with the PBGC. The termination process requires that all TRIP benefits be distributed to participants, beneficiaries and alternate payees or transferred to a group annuity contract or the PBGC. In December of 2023, we made payments to eligible participants, beneficiaries and alternate payees who elected the one-time lump sum distribution option offered in connection with the TRIP termination, resulting in the recognition of a pre-tax settlement charge of $45.2 million during the fourth quarter of 2023. During the first quarter of 2024, we purchased a group annuity contract, using TRIP assets, which resulted in the recognition of a pre-tax settlement charge of $138.1 million during the six months ended June 30, 2024. The participants, beneficiaries, and alternate payees whose benefits were transferred to the group annuity contract will each receive from such group annuity contract the full value of their benefit that accrued under the TRIP. The assets in the Teleflex Retirement Income Plan Trust exceed the estimated liability for amounts to be transferred to the PBGC for missing participants and beneficiaries (“surplus plan assets”). As of June 30, 2024, the surplus plan assets were $37.7 million, which is included in Other Assets on the condensed consolidated balance sheet. In connection with the termination of the TRIP, we transferred $34.2 million of the surplus assets in July 2024 to a suspense account within the Teleflex 401(k) Savings Plan, a qualified defined contribution plan. We plan to use the transferred surplus plan assets to fund employer contributions to participants in the Teleflex 401(k) Savings Plan over the next several years. The following table provides information regarding the components of the net benefit (income) expense of the pension and postretirement benefit plans for the three and six months ended June 30, 2024 and July 2, 2023: Three Months Ended June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 Pension Other Benefits Service cost $ 62 $ 360 $ — $ — Interest cost 271 4,344 110 187 Expected return on plan assets (128) (6,315) — — Net amortization and deferral 164 2,156 (645) (339) Net benefit expense (income) $ 369 $ 545 $ (535) $ (152) Six Months Ended June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 Pension Other Benefits Service cost $ 663 $ 720 $ — $ — Interest cost 2,389 8,694 219 373 Expected return on plan assets (2,329) (12,625) — — Net amortization and deferral 1,518 4,310 (1,290) (678) Settlements 138,139 — — — Net benefit expense (income) $ 140,380 $ 1,099 $ (1,071) $ (305)

Commitments and contingent liab

Commitments and contingent liabilities	6 Months Ended
Commitments and contingent liabilities	Jun. 30, 2024
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. The nature of 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 June 30, 2024, we have recorded $3.0 million and $1.8 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 June 30, 2024. 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, intellectual property, employment, environmental and other matters. As of June 30, 2024, 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. 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. Other: In 2015, the Italian parliament enacted legislation that, among other things, imposed a “payback” measure on medical device companies that supply goods and services to the Italian National Healthcare System. Under the measure, companies are required to make payments to the Italian government if medical device expenditures in a given year exceed regional expenditure ceilings established for that year. The payment amounts are calculated based on the amount by which the regional ceilings for the given year were exceeded. In response to decrees issued by the Italian Ministry of Health, the various Italian regions issued invoices to medical device companies, including Teleflex, under the payback measure in the fourth quarter of 2022 seeking payment with respect to excess expenditures for the years 2015 through 2018. Following the issuance of the invoices, we and numerous other medical device companies filed appeals with the Italian administrative courts challenging the enforceability of the payback measure, primarily on the basis that the law was unconstitutional. The Italian administrative courts referred the question regarding the constitutionality of the law to the Italian Constitutional Court, which in July 2024, issued a ruling upholding the law as constitutional. As a consequence of this ruling, we recognized a $15.8 million increase to our reserve (and corresponding reduction to revenue for the three and six months ended June 30, 2024), of which $13.8 million pertained to prior years. As a result, our reserve as of June 30, 2024 was $32.0 million. Following the ruling of the Italian Constitutional Court, the appeal before the Italian administrative court will proceed with respect to the remaining legal arguments asserted by the appellants with regard to the enforceability of the payback law. On April 4, 2023, one of our Mexican subsidiaries received a notification from the Mexican Federal Tax Administration Service (“SAT”) setting forth its preliminary findings with respect to a foreign trade operations audit carried out by SAT for the period from July 1, 2017 to June 6, 2019. The preliminary findings stated that our Mexican subsidiary did not evidence the export of goods temporarily imported under Mexico’s Manufacturing, Maquila and Export Services Industries Program (“IMMEX Program”), therefore triggering the potential obligation for payment of import duties, value added tax, customs processing fees and other fines and penalties. In response to the notification, our Mexican subsidiary requested that the matter be referred to the Procuraduría de la Defensa del Contribuyente, or “PRODECON,” (local tax ombudsperson) to help facilitate the process. In June 2023, we provided SAT with the appropriate documentation evidencing the export of the goods in accordance with the requirements of the IMMEX Program. During the second quarter of 2024, SAT concluded its examination of the export documentation resulting in no material assessment and the matter has been closed. As part of our acquisition of Palette, we identified certain foreign tax liabilities that had not been properly recognized and paid by Palette prior to our acquisition. As part of our acquisition accounting, we have established a liability of $3.5 million, representing our best estimate of the outstanding tax liabilities including interest as of June 30, 2024. In February 2024, we requested the relevant foreign tax authority to re-assess Palette’s previously filed tax returns for the related periods. If the tax authority disagrees with the basis for our request for reassessment of the previously filed returns and we are unsuccessful in defending our position, we may be required to pay an amount in excess of our current established liability, which could be material. Tax audits and examinations: We are routinely subject to tax examinations by various tax authorities. As of June 30, 2024, the most significant tax examination in process was in 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	6 Months Ended
Segment information	Jun. 30, 2024
Segment Reporting [Abstract]
Segment information	Segment information The following tables present our segment results for the three and six months ended June 30, 2024 and July 2, 2023: Three Months Ended Six Months Ended June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 Americas $ 426,807 $ 424,644 $ 833,093 $ 836,508 EMEA 147,064 147,809 306,720 291,149 Asia 86,995 86,678 171,205 165,409 OEM 88,825 84,128 176,522 161,125 Net revenues $ 749,691 $ 743,259 $ 1,487,540 $ 1,454,191 Three Months Ended Six Months Ended June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 Americas $ 90,665 $ 116,303 $ 178,654 $ 214,921 EMEA 13,122 13,097 39,224 25,868 Asia 17,326 23,148 34,521 44,148 OEM 26,133 23,779 49,250 43,816 Total segment operating profit (1) 147,246 176,327 301,649 328,753 Unallocated expenses (2) (30,368) (32,766) (189,564) (70,218) Income from continuing operations before interest and taxes $ 116,878 $ 143,561 $ 112,085 $ 258,535 (1) Segment operating profit includes segment net revenues from external customers reduced by its 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. (2) Unallocated expenses primarily include manufacturing variances other than fixed manufacturing cost absorption variances, restructuring and impairment charges and settlement charges related to our plan to terminate the TRIP, as described in Note 12.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024	Jul. 02, 2023	Apr. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Pay vs Performance Disclosure
Net income	$ 80,038	$ 15,289	$ 111,335	$ 76,748	$ 95,327	$ 188,083

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2024 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Liam J. Kelly [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	As previously disclosed in the Form 8-K filed on May 9, 2024, on May 7, 2024, Liam J. Kelly, our Chairman, President and Chief Executive Officer, adopted a trading plan for the sale of shares of our common stock, which plan is intended to satisfy the affirmative defense conditions of Rule 10b5–1(c) (a “10b5-1 Plan”) under the Securities Exchange Act of 1934, as amended. The 10b5-1 Plan provides for the sale in the open market of up to 36,464 shares of our common stock issuable to Mr. Kelly upon the exercise of stock options, which are scheduled to expire in 2025. Sales under the 10b5-1 Plan are scheduled to take place in two tranches, with the first occurring in November 2024 and the second occurring in December 2024. Any shares that are sold under the Plan will be sold on the open market, subject to minimum price thresholds specified in the Plan. If any shares remain unsold following the scheduled sale dates because the minimum price threshold was not available, the shares may be sold thereafter through January 2025, subject to a specified minimum price threshold.
Name	Liam J. Kelly
Title	Chairman, President and Chief Executive Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	May 7, 2024
Expiration Date	December 2024
Arrangement Duration	60 days
Aggregate Available	36,464

Recently issued accounting st_2

Recently issued accounting standards (Policies)	6 Months Ended
Recently issued accounting standards (Policies)	Jun. 30, 2024
Accounting Standards Update and Change in Accounting Principle [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, 2023.
Recently issued accounting standards	Recently issued accounting standards In November 2023, the Financial Accounting Standard Board ("FASB") issued new guidance designed to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant expenses per segment. The guidance is effective for all fiscal years beginning after December 15, 2023, and for interim periods beginning after December 15, 2024. The new standard must be adopted on a retrospective basis and early adoption is permitted. We are currently evaluating this guidance to determine its impact on our consolidated financial statements. In December 2023, the FASB issued new guidance designed to improve income tax disclosure requirements, primarily through increased disaggregation disclosures within the effective tax rate reconciliation as well as enhanced disclosures on income taxes paid. The guidance is effective for all fiscal years beginning after December 15, 2024. The new standard can be adopted on a prospective basis with an option for it to be adopted retrospectively and early adoption is permitted. We are currently evaluating this guidance to determine its impact on our consolidated financial statements. In March 2024, the SEC adopted final rules that require registrants to include certain climate-related disclosures in registration statements and annual reports. The required disclosures include information about a registrant's climate-related risks that are reasonably likely to have a material impact on its business, results of operations or financial condition. The required information about climate-related risks will also include disclosure of a registrant's greenhouse gas emissions and will require registrants to present certain climate-related financial disclosures in their audited financial statements. The rules were to be effective for all fiscal years beginning in 2025. However, following the adoption of the rules, challenges to the rules were brought in six federal appellate courts. These challenges were consolidated for review in the U.S. Court of Appeals for the Eighth Circuit. Additional cases have been filed since the consolidation order. On April 4, 2024, the SEC announced that it had stayed the rules pending the completion of judicial review of the consolidated Eighth Circuit petitions. We plan to monitor the status of these rules, and, as appropriate, to evaluate the rules to determine their impact on our 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, believe the new guidance will not have a material impact on the consolidated results of operations, cash flows or financial position.

Net revenues (Tables)

Net revenues (Tables)	6 Months Ended
Net revenues (Tables)	Jun. 30, 2024
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 and six months ended June 30, 2024 and July 2, 2023. Three Months Ended Six Months Ended June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 Vascular access $ 181,105 $ 173,785 $ 362,459 $ 351,437 Interventional 141,157 124,780 275,822 241,677 Anesthesia 102,491 100,842 198,843 194,174 Surgical 111,304 105,953 216,828 204,976 Interventional urology 83,104 77,819 162,846 153,197 OEM 88,825 84,128 176,522 161,125 Other (1) 41,705 75,952 94,220 147,605 Net revenues (2) $ 749,691 $ 743,259 $ 1,487,540 $ 1,454,191 (1) Includes revenues generated from sales of our respiratory and urology products (other than interventional urology products) and sales pursuant to the manufacturing and supply transition agreement related to our Respiratory business divestiture. In 2024, amounts reflect the impact from increases in our reserves related to the Italian payback measure pertaining to prior years discussed in Note 13. (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 includes net revenues from each of the non-OEM product categories listed above.

Restructuring and impairment _2

Restructuring and impairment charges (Tables)	6 Months Ended
Restructuring and impairment charges (Tables)	Jun. 30, 2024
Restructuring and Related Activities [Abstract]
Summary Of Current Cost Estimates By Major Type Of Cost Table	The following table provides a summary of our estimates of restructuring and restructuring related charges by major type of expense associated with the 2024 Footprint realignment plan: Total estimated amount expected to be incurred Program expense estimates: Restructuring charges (1) $16 million to $20 million Restructuring related charges (2) $21 million to $26 million Total restructuring and restructuring related charges $37 million to $46 million (1) Substantially all of the charges consist of employee termination benefit costs. (2) Consists of pre-tax charges related to accelerated depreciation and other costs directly related to the plan, primarily project management costs and costs to relocate manufacturing operations and support functions to the new locations. Substantially all of the charges are expected to be recognized within costs of goods sold. Total estimated amount expected to be incurred Program expense estimates: Restructuring charges (1) $4 million to $6 million Restructuring related charges (2) $7 million to $9 million Total restructuring and restructuring related charges $11 million to $15 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 2023 Footprint realignment plan and principally constitute costs to transfer manufacturing operations to existing lower-cost locations and project management costs. Substantially all of these charges are expected to be recognized within cost of goods sold.
Restructuring and Other Impairment Charges	Restructuring and impairment charges recognized for the three and six months ended June 30, 2024 and July 2, 2023 consisted of the following: Three Months Ended June 30, 2024 Termination Benefits Other Costs (1) Total 2024 Footprint realignment plan $ 8,572 $ — $ 8,572 2023 Restructuring plan (974) 36 (938) 2023 Footprint realignment plan 588 1 589 Other restructuring programs (2) (373) 5 (368) Restructuring charges $ 7,813 $ 42 $ 7,855 Three Months Ended July 2, 2023 Termination Benefits Other Costs (1) Total 2022 Restructuring plan $ 984 $ 138 $ 1,122 Respiratory divestiture plan 127 — 127 Other restructuring programs (3) 73 186 259 Restructuring charges $ 1,184 $ 324 $ 1,508 Six Months Ended June 30, 2024 Termination Benefits Other Costs (1) Total 2024 Footprint realignment plan $ 8,572 $ — $ 8,572 2023 Restructuring plan (818) 82 (736) 2023 Footprint realignment plan 743 3 746 Other restructuring programs (2) (208) 30 (178) Restructuring charges 8,289 115 8,404 Asset impairment charges — 2,110 2,110 Restructuring and impairment charges $ 8,289 $ 2,225 $ 10,514 Six Months Ended July 2, 2023 Termination Benefits Other Costs (1) Total 2022 Restructuring plan $ 3,117 $ 211 $ 3,328 Respiratory divestiture plan 255 12 267 Other restructuring programs (3) (241) 375 134 Restructuring charges $ 3,131 $ 598 $ 3,729 (1) Other costs include facility closure, contract termination and other exit costs. (2) Includes activity primarily related to our 2022 Restructuring plan, which has concluded. (3) Includes activity primarily related to our 2014, 2018, and 2019 Footprint realignment plans, all of which have concluded.

Inventories (Tables)

Inventories (Tables)	6 Months Ended
Inventories (Tables)	Jun. 30, 2024
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventories as of June 30, 2024 and December 31, 2023 consisted of the following: June 30, 2024 December 31, 2023 Raw materials $ 179,337 $ 179,517 Work-in-process 119,153 111,132 Finished goods 338,418 335,567 Inventories $ 636,908 $ 626,216

Goodwill and other intangible_2

Goodwill and other intangible assets, net (Tables)	6 Months Ended
Goodwill and other intangible assets, net (Tables)	Jun. 30, 2024
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 six months ended June 30, 2024: Americas EMEA Asia OEM Total December 31, 2023 $ 2,068,072 $ 487,744 $ 246,229 $ 112,010 $ 2,914,055 Currency translation adjustment (2,172) (10,857) (8,397) — (21,426) June 30, 2024 $ 2,065,900 $ 476,887 $ 237,832 $ 112,010 $ 2,892,629
Schedule of Finite-Lived Intangible Assets	The gross carrying amount of, and accumulated amortization relating to, intangible assets as of June 30, 2024 and December 31, 2023 were as follows: Gross Carrying Amount Accumulated Amortization June 30, 2024 December 31, 2023 June 30, 2024 December 31, 2023 Customer relationships $ 1,358,377 $ 1,363,839 $ (591,302) $ (561,753) In-process research and development 23,666 27,476 — — Intellectual property 1,878,931 1,890,957 (804,090) (745,094) Distribution rights 23,155 23,301 (22,289) (22,048) Trade names 605,642 610,146 (92,174) (84,864) Non-compete agreements 21,917 21,934 (21,917) (21,934) $ 3,911,688 $ 3,937,653 $ (1,531,772) $ (1,435,693)

Financial instruments (Tables)

Financial instruments (Tables)	6 Months Ended
Financial instruments (Tables)	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of foreign exchange gains and losses recognized within AOCI and the interest benefit recognized within interest expense	The following table summarizes the foreign exchange gains and losses recognized within AOCI and the interest benefit recognized within interest expense related to cross currency swap for the three and six months ended June 30, 2024 and July 2, 2023: Three Months Ended Six Months Ended June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 Foreign exchange gain (loss) $ 5,297 $ (4,259) $ 14,190 $ (14,290) Interest benefit 4,280 5,180 8,000 10,288
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 June 30, 2024 and December 31, 2023: June 30, 2024 December 31, 2023 Fair Value Asset derivatives: Designated foreign currency forward contracts $ 1,539 $ 1,629 Non-designated foreign currency forward contracts 206 937 Cross-currency interest rate swaps 16,409 16,883 Prepaid expenses and other current assets 18,154 19,449 Cross-currency interest rate swaps 1,151 — Other assets 1,151 — Total asset derivatives $ 19,305 $ 19,449 Liability derivatives: Designated foreign currency forward contracts $ 3,024 $ 1,866 Non-designated foreign currency forward contracts 320 1,340 Other current liabilities 3,344 3,206 Cross-currency interest rate swaps 24,637 32,097 Other liabilities 24,637 32,097 Total liability derivatives $ 27,981 $ 35,303

Fair value measurement (Tables)

Fair value measurement (Tables)	6 Months Ended
Fair value measurement (Tables)	Jun. 30, 2024
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 June 30, 2024 and December 31, 2023: Total carrying value at June 30, 2024 Quoted prices in active Significant other Significant Investments in marketable securities $ 559 $ 559 $ — $ — Derivative assets 19,305 — 19,305 — Derivative liabilities 27,981 — 27,981 — Contingent consideration liabilities 45,216 — — 45,216 Total carrying Quoted prices in active Significant other Significant Investments in marketable securities $ 5,306 $ 5,306 $ — $ — Derivative assets 19,449 — 19,449 — Derivative liabilities 35,303 — 35,303 — Contingent consideration liabilities 39,486 — — 39,486
Schedule of Valuation Techniques	The table below provides additional information regarding the valuation technique and inputs used in determining the fair value of our significant contingent consideration liabilities. Contingent Consideration Liability Valuation Technique Unobservable Input Range (Weighted average) Revenue-based Monte Carlo simulation Revenue volatility 19.1% - 30.4% (20.8%) Risk free rate Cost of debt structure Projected year of payment 2025 - 2026
Reconciliation of Changes in Level 3 Financial Liabilities Measured at Fair Value on Recurring Basis	The following table provides information regarding changes in our contingent consideration liabilities for the six months ended June 30, 2024: Contingent consideration Balance – December 31, 2023 $ 39,486 Payments (122) Revaluations 5,852 Balance – June 30, 2024 $ 45,216

Shareholders' equity (Tables)

Shareholders' equity (Tables)	6 Months Ended
Shareholders' equity (Tables)	Jun. 30, 2024
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 Six Months Ended June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 Basic 47,151 46,981 47,130 46,965 Dilutive effect of share-based awards 210 348 248 342 Diluted 47,361 47,329 47,378 47,307
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 six months ended June 30, 2024 and July 2, 2023: Cash Flow Hedges Pension and Other Postretirement Benefit Plans Foreign Currency Translation Adjustment Accumulated Other Comprehensive (Loss) Income Balance as of December 31, 2023 $ 1,396 $ (88,049) $ (227,752) $ (314,405) Other comprehensive income (loss) before reclassifications (780) 8,735 (50,901) (42,946) Amounts reclassified from accumulated other comprehensive (loss) income (2,095) 80,241 — 78,146 Net current-period other comprehensive income (loss) (2,875) 88,976 (50,901) 35,200 Balance as of June 30, 2024 $ (1,479) $ 927 $ (278,653) $ (279,205) Cash Flow Hedges Pension and Other Postretirement Benefit Plans Foreign Currency Translation Adjustment Accumulated Other Comprehensive (Loss) Income Balance as of December 31, 2022 $ 4,931 $ (135,799) $ (272,654) $ (403,522) Other comprehensive income (loss) before reclassifications 8,056 (388) 16,049 23,717 Amounts reclassified from accumulated other comprehensive income (4,855) 2,796 — (2,059) Net current-period other comprehensive income 3,201 2,408 16,049 21,658 Balance as of July 2, 2023 $ 8,132 $ (133,391) $ (256,605) $ (381,864)
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 (income) expense, net of tax, for the three and six months ended June 30, 2024 and July 2, 2023: Three Months Ended Six Months Ended June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 (Gains) Loss on foreign exchange contracts: Cost of goods sold $ (347) $ (2,181) $ (2,109) $ (5,235) Total before tax (347) (2,181) (2,109) (5,235) Taxes 31 178 14 380 Net of tax (316) (2,003) (2,095) (4,855) Pension and other postretirement benefit items (1) : Actuarial losses 9 2,069 1,210 4,135 Prior-service costs (491) (252) (983) (504) Settlements — — 138,139 — Total before tax (482) 1,817 138,366 3,631 Tax benefit 107 (418) (58,125) (835) Net of tax (375) 1,399 80,241 2,796 Total reclassifications, net of tax $ (691) $ (604) $ 78,146 $ (2,059) (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)	6 Months Ended
Taxes on income from continuing operations (Tables)	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Effective Income Tax Rate	Three Months Ended Six Months Ended June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 Effective income tax rate (1) 17.8% 12.2% (33.8)% 15.9% (1) The effective income tax rate for the three months ended June 30, 2024 and the three and six months ended July 2, 2023 represent income tax expenses. The effective income tax rate for the six months ended June 30, 2024 represents an income tax benefit.

Pension and other postretirem_2

Pension and other postretirement benefits (Tables)	6 Months Ended
Pension and other postretirement benefits (Tables)	Jun. 30, 2024
Retirement Benefits [Abstract]
Net Benefit Cost of Pension and Postretirement Benefit Plans	The following table provides information regarding the components of the net benefit (income) expense of the pension and postretirement benefit plans for the three and six months ended June 30, 2024 and July 2, 2023: Three Months Ended June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 Pension Other Benefits Service cost $ 62 $ 360 $ — $ — Interest cost 271 4,344 110 187 Expected return on plan assets (128) (6,315) — — Net amortization and deferral 164 2,156 (645) (339) Net benefit expense (income) $ 369 $ 545 $ (535) $ (152) Six Months Ended June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 Pension Other Benefits Service cost $ 663 $ 720 $ — $ — Interest cost 2,389 8,694 219 373 Expected return on plan assets (2,329) (12,625) — — Net amortization and deferral 1,518 4,310 (1,290) (678) Settlements 138,139 — — — Net benefit expense (income) $ 140,380 $ 1,099 $ (1,071) $ (305)

Segment information (Tables)

Segment information (Tables)	6 Months Ended
Segment information (Tables)	Jun. 30, 2024
Segment Reporting [Abstract]
Segment Results	The following tables present our segment results for the three and six months ended June 30, 2024 and July 2, 2023: Three Months Ended Six Months Ended June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 Americas $ 426,807 $ 424,644 $ 833,093 $ 836,508 EMEA 147,064 147,809 306,720 291,149 Asia 86,995 86,678 171,205 165,409 OEM 88,825 84,128 176,522 161,125 Net revenues $ 749,691 $ 743,259 $ 1,487,540 $ 1,454,191 Three Months Ended Six Months Ended June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 Americas $ 90,665 $ 116,303 $ 178,654 $ 214,921 EMEA 13,122 13,097 39,224 25,868 Asia 17,326 23,148 34,521 44,148 OEM 26,133 23,779 49,250 43,816 Total segment operating profit (1) 147,246 176,327 301,649 328,753 Unallocated expenses (2) (30,368) (32,766) (189,564) (70,218) Income from continuing operations before interest and taxes $ 116,878 $ 143,561 $ 112,085 $ 258,535 (1) Segment operating profit includes segment net revenues from external customers reduced by its 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. (2) Unallocated expenses primarily include manufacturing variances other than fixed manufacturing cost absorption variances, restructuring and impairment charges and settlement charges related to our plan to terminate the TRIP, as described in Note 12.

Net revenues (Details)

Net revenues (Details)	6 Months Ended
Net revenues (Details)	Jun. 30, 2024
Concentration Risk [Line Items]
Accounts receivable, terms	30 days
Sales revenue, net \| Hospitals And Healthcare Providers \| Customer concentration risk
Concentration Risk [Line Items]
Percentage of total revenue	86%
Sales revenue, net \| Other Medical Device Manufacturers \| Customer concentration risk
Concentration Risk [Line Items]
Percentage of total revenue	12%
Sales revenue, net \| Home Care Providers \| Customer concentration risk
Concentration Risk [Line Items]
Percentage of total revenue	2%

Net revenues - Other revenues (

Net revenues - Other revenues (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Revenue, Major Customer [Line Items]
Net revenues	$ 749,691	$ 743,259	$ 1,487,540	$ 1,454,191
Vascular access
Revenue, Major Customer [Line Items]
Net revenues	181,105	173,785	362,459	351,437
Interventional
Revenue, Major Customer [Line Items]
Net revenues	141,157	124,780	275,822	241,677
Anesthesia
Revenue, Major Customer [Line Items]
Net revenues	102,491	100,842	198,843	194,174
Surgical
Revenue, Major Customer [Line Items]
Net revenues	111,304	105,953	216,828	204,976
Interventional urology
Revenue, Major Customer [Line Items]
Net revenues	83,104	77,819	162,846	153,197
OEM
Revenue, Major Customer [Line Items]
Net revenues	88,825	84,128	176,522	161,125
Other
Revenue, Major Customer [Line Items]
Net revenues	$ 41,705	$ 75,952	$ 94,220	$ 147,605

Acquisition (Details)

Acquisition (Details) - Palette Life Sciences AB $ in Millions	3 Months Ended
	Dec. 31, 2023 USD ($) payment
Business Acquisition [Line Items]
Consideration transferred	$ 594.9
Number of milestone payments \| payment	2
Maximum additional payment upon completion of certain milestones	$ 50

Restructuring and impairment _3

Restructuring and impairment charges - Expected costs to be incurred (Details) $ in Millions	Jun. 30, 2024 USD ($)
Minimum
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	$ 31
Maximum
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	38
2024 Footprint realignment plan \| Minimum
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	37
2024 Footprint realignment plan \| Maximum
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	46
2023 Footprint realignment plan \| Minimum
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	11
2023 Footprint realignment plan \| Maximum
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	15
Special Termination Benefit And Other Restructuring \| 2024 Footprint realignment plan \| Minimum
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	16
Special Termination Benefit And Other Restructuring \| 2024 Footprint realignment plan \| Maximum
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	20
Special Termination Benefit And Other Restructuring \| 2023 Footprint realignment plan \| Minimum
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	4
Special Termination Benefit And Other Restructuring \| 2023 Footprint realignment plan \| Maximum
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	6
Accelerated Depreciation And Other Costs \| 2024 Footprint realignment plan \| Minimum
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	21
Accelerated Depreciation And Other Costs \| 2024 Footprint realignment plan \| Maximum
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	26
Accelerated Depreciation And Other Costs \| 2023 Footprint realignment plan \| Minimum
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	7
Accelerated Depreciation And Other Costs \| 2023 Footprint realignment plan \| Maximum
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	$ 9

Restructuring and impairment _4

Restructuring and impairment charges - Charges recognized (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 7,855	$ 1,508	$ 8,404	$ 3,729
Asset impairment charges			2,110	0
Restructuring and impairment charges			10,514
Termination Benefits
Restructuring Cost and Reserve [Line Items]
Restructuring charges	7,813	1,184	8,289	3,131
Asset impairment charges			0
Restructuring and impairment charges			8,289
Other costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges	42	324	115	598
Asset impairment charges			2,110
Restructuring and impairment charges			2,225
2024 Footprint realignment plan
Restructuring Cost and Reserve [Line Items]
Restructuring charges	8,572		8,572
2024 Footprint realignment plan \| Termination Benefits
Restructuring Cost and Reserve [Line Items]
Restructuring charges	8,572		8,572
2024 Footprint realignment plan \| Other costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0		0
2023 Restructuring plan
Restructuring Cost and Reserve [Line Items]
Restructuring charges	(938)		(736)
2023 Restructuring plan \| Termination Benefits
Restructuring Cost and Reserve [Line Items]
Restructuring charges	(974)		(818)
2023 Restructuring plan \| Other costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges	36		82
2023 Footprint realignment plan
Restructuring Cost and Reserve [Line Items]
Restructuring charges	589		746
2023 Footprint realignment plan \| Termination Benefits
Restructuring Cost and Reserve [Line Items]
Restructuring charges	588		743
2023 Footprint realignment plan \| Other costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1		3
Other restructuring programs
Restructuring Cost and Reserve [Line Items]
Restructuring charges	(368)	259	(178)	134
Other restructuring programs \| Termination Benefits
Restructuring Cost and Reserve [Line Items]
Restructuring charges	(373)	73	(208)	(241)
Other restructuring programs \| Other costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 5	186	$ 30	375
2022 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Restructuring charges		1,122		3,328
2022 Restructuring Plan \| Termination Benefits
Restructuring Cost and Reserve [Line Items]
Restructuring charges		984		3,117
2022 Restructuring Plan \| Other costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges		138		211
Respiratory divestiture plan
Restructuring Cost and Reserve [Line Items]
Restructuring charges		127		267
Respiratory divestiture plan \| Termination Benefits
Restructuring Cost and Reserve [Line Items]
Restructuring charges		127		255
Respiratory divestiture plan \| Other costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ 0		$ 12

Restructuring and impairment _5

Restructuring and impairment charges - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 7,855	$ 1,508	$ 8,404	$ 3,729
Asset impairment charges			2,110	$ 0
2024 Footprint realignment plan
Restructuring Cost and Reserve [Line Items]
Restructuring charges	8,572		8,572
2024 Footprint realignment plan \| Accelerated Depreciation And Other Costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1,100		1,100
2023 Footprint realignment plan
Restructuring Cost and Reserve [Line Items]
Restructuring charges	589		746
Restructuring expenses			2,200
Cost incurred to date	1,200		1,200
Restructuring reserve	2,100		2,100
2023 Footprint realignment plan \| Accelerated Depreciation And Other Costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges	600		1,100
Minimum
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	31,000		31,000
Minimum \| 2024 Footprint realignment plan
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	37,000		37,000
Expected cash outlays	13,000		13,000
Minimum \| 2024 Footprint realignment plan \| Accelerated Depreciation And Other Costs
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	21,000		21,000
Minimum \| 2023 Footprint realignment plan
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	11,000		11,000
Expected cash outlays	2,000		2,000
Minimum \| 2023 Footprint realignment plan \| Accelerated Depreciation And Other Costs
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	7,000		7,000
Maximum
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	38,000		38,000
Maximum \| 2024 Footprint realignment plan
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	46,000		46,000
Expected cash outlays	16,000		16,000
Maximum \| 2024 Footprint realignment plan \| Accelerated Depreciation And Other Costs
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	26,000		26,000
Maximum \| 2023 Footprint realignment plan
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	15,000		15,000
Expected cash outlays	3,000		3,000
Maximum \| 2023 Footprint realignment plan \| Accelerated Depreciation And Other Costs
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	$ 9,000		$ 9,000

Inventories (Detail)

Inventories (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 179,337	$ 179,517
Work-in-process	119,153	111,132
Finished goods	338,418	335,567
Inventories	$ 636,908	$ 626,216

Goodwill and other intangible_3

Goodwill and other intangible assets, net - Changes in carrying amount of goodwill, by reporting segment (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 2,914,055
Currency translation adjustment	(21,426)
Goodwill, ending balance	2,892,629
Americas
Goodwill [Roll Forward]
Goodwill, beginning balance	2,068,072
Currency translation adjustment	(2,172)
Goodwill, ending balance	2,065,900
EMEA
Goodwill [Roll Forward]
Goodwill, beginning balance	487,744
Currency translation adjustment	(10,857)
Goodwill, ending balance	476,887
Asia
Goodwill [Roll Forward]
Goodwill, beginning balance	246,229
Currency translation adjustment	(8,397)
Goodwill, ending balance	237,832
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 - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024	Dec. 31, 2023
Goodwill [Line Items]
Goodwill	$ 2,892,629	$ 2,892,629	$ 2,914,055
Goodwill impairment charges	0	0
Americas
Goodwill [Line Items]
Goodwill	2,065,900	2,065,900	$ 2,068,072
Interventional Urology North America \| Americas
Goodwill [Line Items]
Goodwill	$ 645,900	$ 645,900

Goodwill and other intangible_5

Goodwill and other intangible assets, net - Components of intangible assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 3,911,688	$ 3,937,653
Accumulated Amortization	(1,531,772)	(1,435,693)
In-process research and development
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	23,666	27,476
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets	1,358,377	1,363,839
Accumulated Amortization	(591,302)	(561,753)
Intellectual property
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets	1,878,931	1,890,957
Accumulated Amortization	(804,090)	(745,094)
Distribution rights
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets	23,155	23,301
Accumulated Amortization	(22,289)	(22,048)
Trade names
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets	605,642	610,146
Accumulated Amortization	(92,174)	(84,864)
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets	21,917	21,934
Accumulated Amortization	$ (21,917)	$ (21,934)

Financial instruments - Additio

Financial instruments - Additional information (Details) € in Millions			3 Months Ended		6 Months Ended
	Apr. 25, 2024 USD ($) counterparty agreement	Feb. 26, 2024 USD ($) agreement	Jun. 30, 2024 USD ($)	Jul. 02, 2023 USD ($)	Jun. 30, 2024 USD ($)	Jul. 02, 2023 USD ($)	Apr. 25, 2024 EUR (€) counterparty agreement	Dec. 31, 2023 USD ($) counterparty	Dec. 31, 2023 EUR (€) counterparty	Dec. 31, 2019 USD ($) counterparty	Dec. 31, 2019 EUR (€) counterparty
Derivatives Fair Value [Line Items]
Allowance for credit losses			$ 9,100,000		$ 9,100,000			$ 9,500,000
Allowance for credit losses, current			5,400,000		5,400,000			5,500,000
Cash flow hedging
Derivatives Fair Value [Line Items]
Ineffectiveness related to derivatives			0	$ 0	0	$ 0
Designated as hedging instrument
Derivatives Fair Value [Line Items]
Loss on sale of derivatives	$ 400,000
Foreign exchange contract \| Not designated as hedging instrument
Derivatives Fair Value [Line Items]
Gains (losses) on derivatives			100,000	$ (2,000,000)	(3,500,000)	$ (2,100,000)
Total notional amount for all open foreign currency forward contracts			173,400,000		$ 173,400,000			195,000,000
Derivative, term of contract					12 months
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			$ 302,200,000		$ 302,200,000			234,100,000
Cross-currency interest rate swaps \| Designated as hedging instrument
Derivatives Fair Value [Line Items]
Total notional amount for all open foreign currency forward contracts								$ 500,000,000
Derivative, number of counterparties \| counterparty								6	6	5	5
Proceeds from derivative instrument, investing activities		$ 12,100,000
Number of new agreements \| agreement	2	2					2
Cross-currency interest rate swaps \| Designated as hedging instrument \| Short
Derivatives Fair Value [Line Items]
Total notional amount for all open foreign currency forward contracts								$ 500,000,000		$ 250,000,000
Derivative, fixed interest rate								4.63%	4.63%	4.88%	4.88%
Cross-currency interest rate swaps \| Designated as hedging instrument \| Long
Derivatives Fair Value [Line Items]
Total notional amount for all open foreign currency forward contracts \| €									€ 474.7		€ 219.2
Derivative, fixed interest rate								3.05%	3.05%	2.46%	2.46%
Cross Currency Interest Rate Contract, Expiring 2027 \| Designated as hedging instrument
Derivatives Fair Value [Line Items]
Derivative, number of counterparties \| counterparty	5						5
Cross Currency Interest Rate Contract, Expiring 2027 \| Designated as hedging instrument \| Short
Derivatives Fair Value [Line Items]
Total notional amount for all open foreign currency forward contracts	$ 250,000,000	$ 250,000,000
Derivative, fixed interest rate	4.25%						4.25%
Cross Currency Interest Rate Contract, Expiring 2027 \| Designated as hedging instrument \| Long
Derivatives Fair Value [Line Items]
Total notional amount for all open foreign currency forward contracts \| €							€ 233.4
Derivative, fixed interest rate	2.44%						2.44%
Cross Currency Interest Rate Contract, Expiring 2029 \| Designated as hedging instrument
Derivatives Fair Value [Line Items]
Derivative, number of counterparties \| counterparty	4						4
Cross Currency Interest Rate Contract, Expiring 2029 \| Designated as hedging instrument \| Short
Derivatives Fair Value [Line Items]
Total notional amount for all open foreign currency forward contracts	$ 250,000,000
Derivative, fixed interest rate	4.25%						4.25%
Cross Currency Interest Rate Contract, Expiring 2029 \| Designated as hedging instrument \| Long
Derivatives Fair Value [Line Items]
Total notional amount for all open foreign currency forward contracts \| €							€ 233.4
Derivative, fixed interest rate	2.45%						2.45%

Financial instruments - Foreign

Financial instruments - Foreign exchange gains and losses recognized within AOCI and the interest benefit recognized within interest expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Foreign exchange gain (loss)	$ (14,232)	$ (2,521)	$ (50,901)	$ 16,049
Interest benefit			8,000	10,288
Cross-currency interest rate swaps \| Not designated as hedging instrument
Derivative Instruments, Gain (Loss) [Line Items]
Interest benefit	4,280	5,180	8,000	10,288
Cross-currency interest rate swaps \| Cash flow hedging
Derivative Instruments, Gain (Loss) [Line Items]
Foreign exchange gain (loss)	$ 5,297	$ (4,259)	$ 14,190	$ (14,290)

Financial instruments - Fair va

Financial instruments - Fair values of derivative instruments designated as hedging instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Cash flow hedging
Derivatives Fair Value [Line Items]
Total asset derivatives	$ 19,305	$ 19,449
Total liability derivatives	27,981	35,303
Cash flow hedging \| Other assets
Derivatives Fair Value [Line Items]
Total asset derivatives	1,151	0
Foreign exchange contract \| Other liabilities
Derivatives Fair Value [Line Items]
Total liability derivatives	24,637	32,097
Foreign exchange contract \| Cash flow hedging \| Prepaid expenses and other current assets
Derivatives Fair Value [Line Items]
Total asset derivatives	18,154	19,449
Foreign exchange contract \| Cash flow hedging \| Other current liabilities
Derivatives Fair Value [Line Items]
Total liability derivatives	3,344	3,206
Foreign exchange contract \| Designated as hedging instrument \| Cash flow hedging \| Prepaid expenses and other current assets
Derivatives Fair Value [Line Items]
Total asset derivatives	1,539	1,629
Foreign exchange contract \| Designated as hedging instrument \| Cash flow hedging \| Other current liabilities
Derivatives Fair Value [Line Items]
Total liability derivatives	3,024	1,866
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	206	937
Foreign exchange contract \| Not designated as hedging instrument \| Cash flow hedging \| Other current liabilities
Derivatives Fair Value [Line Items]
Total liability derivatives	320	1,340
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	16,409	16,883
Cross-currency interest rate swaps \| Not designated as hedging instrument \| Cash flow hedging \| Other assets
Derivatives Fair Value [Line Items]
Total asset derivatives	1,151	0
Cross-currency interest rate swaps \| Not designated as hedging instrument \| Cash flow hedging \| Other liabilities
Derivatives Fair Value [Line Items]
Total liability derivatives	$ 24,637	$ 32,097

Fair value measurement - Financ

Fair value measurement - Financial assets and liabilities carried at fair value measured on recurring basis (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Investments in marketable securities	$ 559	$ 5,306
Derivative assets	19,305	19,449
Derivative liabilities	27,981	35,303
Contingent consideration liabilities	45,216	39,486
Quoted prices in active markets (Level 1)
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Investments in marketable securities	559	5,306
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	19,305	19,449
Derivative liabilities	27,981	35,303
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	$ 45,216	$ 39,486

Fair value measurement - Valuat

Fair value measurement - Valuation technique and inputs used in determining the fair value of contingent consideration (Details) - Revenue-based Payment - Monte Carlo simulation - Measurement Input, Revenue Volatility	Jun. 30, 2024
Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Business combination, contingent consideration, liability, measurement input	0.191
Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Business combination, contingent consideration, liability, measurement input	0.304
Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Business combination, contingent consideration, liability, measurement input	0.208

Fair value measurement - Reconc

Fair value measurement - Reconciliation of changes in financial liabilities measured on recurring basis (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 39,486
Payments	(122)
Revaluations	5,852
Ending balance	$ 45,216

Shareholders' equity - Reconcil

Shareholders' equity - Reconciliation of basic to diluted weighted average common shares outstanding (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Equity [Abstract]
Basic (in shares)	47,151	46,981	47,130	46,965
Dilutive effect of share-based awards (in shares)	210	348	248	342
Diluted (in shares)	47,361	47,329	47,378	47,307

Shareholders' equity - Addition

Shareholders' equity - Additional information (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023	Jul. 02, 2023	Aug. 02, 2024	Jul. 30, 2024
Accumulated Other Comprehensive Income (Loss) [Line Items]
Weighted average antidilutive shares which were not included in the calculation of earnings per share	0.9	0.7	0.7
Subsequent event
Accumulated Other Comprehensive Income (Loss) [Line Items]
Share repurchase program, authorized amount				$ 200	$ 500

Shareholders' equity - Change i

Shareholders' equity - Change in accumulated other comprehensive income, net of tax (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 4,440,988	$ 4,021,968
Other comprehensive income (loss) before reclassifications	(42,946)	23,717
Amounts reclassified from accumulated other comprehensive (loss) income	78,146	(2,059)
Net current-period other comprehensive income (loss)	35,200	21,658
Ending balance	4,558,719	4,215,092
Cash Flow Hedges
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	1,396	4,931
Other comprehensive income (loss) before reclassifications	(780)	8,056
Amounts reclassified from accumulated other comprehensive (loss) income	(2,095)	(4,855)
Net current-period other comprehensive income (loss)	(2,875)	3,201
Ending balance	(1,479)	8,132
Pension and Other Postretirement Benefit Plans
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(88,049)	(135,799)
Other comprehensive income (loss) before reclassifications	8,735	(388)
Amounts reclassified from accumulated other comprehensive (loss) income	80,241	2,796
Net current-period other comprehensive income (loss)	88,976	2,408
Ending balance	927	(133,391)
Foreign Currency Translation Adjustment
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(227,752)	(272,654)
Other comprehensive income (loss) before reclassifications	(50,901)	16,049
Amounts reclassified from accumulated other comprehensive (loss) income	0	0
Net current-period other comprehensive income (loss)	(50,901)	16,049
Ending balance	(278,653)	(256,605)
Accumulated Other Comprehensive (Loss) Income
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(314,405)	(403,522)
Ending balance	$ (279,205)	$ (381,864)

Shareholders' equity - Accumula

Shareholders' equity - Accumulated other comprehensive income into income expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cost of goods sold	$ 333,233	$ 335,436	$ 654,948	$ 654,988
Total before tax	97,497	126,955	71,687	224,435
(Benefit) tax	(17,332)	(15,532)	24,219	(35,716)
Income from continuing operations	80,165	111,423	95,906	188,719
Settlements	0	0	138,139	0
Reclassification out of accumulated other comprehensive income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total reclassifications, net of tax	(691)	(604)	78,146	(2,059)
Reclassification out of accumulated other comprehensive income \| Actuarial losses
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total before tax			1,210	4,135
Actuarial losses	9	2,069
Reclassification out of accumulated other comprehensive income \| Prior-service costs
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total before tax			(983)	(504)
Prior-service costs	(491)	(252)
Reclassification out of accumulated other comprehensive income \| Pension and Other Postretirement Benefits Plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total before tax	(482)	1,817	138,366	3,631
(Benefit) tax	107	(418)	(58,125)	(835)
Income from continuing operations	(375)	1,399	80,241	2,796
Reclassification out of accumulated other comprehensive income \| Foreign exchange contract \| Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cost of goods sold	(347)	(2,181)	(2,109)	(5,235)
Total before tax	(347)	(2,181)	(2,109)	(5,235)
(Benefit) tax	31	178	14	380
Income from continuing operations	$ (316)	$ (2,003)	$ (2,095)	$ (4,855)

Taxes on income from continui_3

Taxes on income from continuing operations (Details)	3 Months Ended		6 Months Ended
Taxes on income from continuing operations (Details)	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Income Tax Disclosure [Abstract]
Effective income tax rate (as a percent)	(17.80%)	(12.20%)	33.80%	(15.90%)

Pension and other postretirem_3

Pension and other postretirement benefits - Additional Information (Detail) - Teleflex Incorporated Retirement Income Plan - Pension - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023	Jul. 31, 2024	Jun. 30, 2024
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Payment for settlement	$ 138.1	$ 45.2
Funded status, end of year				$ 37.7
Subsequent event
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Funded status, end of year			$ 34.2

Pension and other postretirem_4

Pension and other postretirement benefits - Net benefit cost of pension and postretirement benefit plans (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Settlements	$ 0	$ 0	$ 138,139	$ 0
Pension
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	62	360	663	720
Interest cost	271	4,344	2,389	8,694
Expected return on plan assets	(128)	(6,315)	(2,329)	(12,625)
Net amortization and deferral	164	2,156	1,518	4,310
Settlements			138,139	0
Net benefit expense (income)	369	545	140,380	1,099
Other Benefits
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	0	0	0	0
Interest cost	110	187	219	373
Expected return on plan assets	0	0	0	0
Net amortization and deferral	(645)	(339)	(1,290)	(678)
Settlements			0	0
Net benefit expense (income)	$ (535)	$ (152)	$ (1,071)	$ (305)

Commitments and contingent li_2

Commitments and contingent liabilities (Detail) - USD ($) $ in Millions	3 Months Ended	6 Months Ended	21 Months Ended
	Jun. 30, 2024	Jun. 30, 2024	Jul. 01, 2024
Loss Contingencies [Line Items]
Estimated litigation liability	$ 0.4	$ 0.4
Palette Life Sciences AB
Loss Contingencies [Line Items]
Loss contingency accrual	3.5	3.5
Italian Parliament Legislation
Loss Contingencies [Line Items]
Loss contingency, loss in period	15.8	15.8	$ 13.8
Loss contingency accrual	$ 32	$ 32
Minimum
Loss Contingencies [Line Items]
Estimated time frame over which accrued amounts may be paid out	10 years	10 years
Maximum
Loss Contingencies [Line Items]
Estimated time frame over which accrued amounts may be paid out	15 years	15 years
Accrued liabilities
Loss Contingencies [Line Items]
Accrual for environmental loss contingencies	$ 3	$ 3
Other liability
Loss Contingencies [Line Items]
Accrual for environmental loss contingencies	$ 1.8	$ 1.8

Segment information (Details)

Segment information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Segment information (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	$ 749,691	$ 743,259	$ 1,487,540	$ 1,454,191
Operating profit	116,878	143,561	112,085	258,535
Operating segments
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating profit	147,246	176,327	301,649	328,753
Unallocated expenses
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating profit	(30,368)	(32,766)	(189,564)	(70,218)
Americas
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	426,807	424,644	833,093	836,508
Americas \| Operating segments
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating profit	90,665	116,303	178,654	214,921
EMEA
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	147,064	147,809	306,720	291,149
EMEA \| Operating segments
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating profit	13,122	13,097	39,224	25,868
Asia
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	86,995	86,678	171,205	165,409
Asia \| Operating segments
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating profit	17,326	23,148	34,521	44,148
OEM
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	88,825	84,128	176,522	161,125
OEM \| Operating segments
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating profit	$ 26,133	$ 23,779	$ 49,250	$ 43,816