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

(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.

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

(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.

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.

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

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.