TELEFLEX INCTFX
TELEFLEX INC Segments Disclosure
Business segments and other information
An operating segment is a component (a) that engages in business activities from which it may earn revenues and incur expenses, (b) whose operating results are regularly reviewed by the chief operating decision maker, (in our case, our Interim President and Chief Executive Officer) to make decisions about resources to be allocated to the segment and to assess its performance, and (c) for which discrete financial information is available. The chief operating decision maker utilizes segment operating profit to evaluate operating expenses through a comparison of budget to actual results as well as an analysis of operating expenses as a percentage of revenue. We do not evaluate our operating segments using discrete asset information.
We have three reportable segments: Americas, EMEA (Europe, the Middle East and Africa) and Asia (Asia Pacific). Our reportable segments primarily design, manufacture and distribute medical devices primarily used in critical care and surgical applications and generally serve hospitals and healthcare providers. The products of these segments are most widely used in high-acuity emergent procedures and in general and specialty surgical applications.
The following tables present our segment results for the years ended December 31, 2025, 2024 and 2023:
| 2025 | |||||||||||||||||||||||
| Americas | EMEA | Asia | Segment Total | ||||||||||||||||||||
| Net revenues | $ | 1,279,197 | $ | 472,411 | $ | 241,105 | $ | 1,992,713 | |||||||||||||||
Cost of goods sold | 471,570 | 229,771 | 118,086 | 819,427 | |||||||||||||||||||
| Research and development expenses | 52,846 | 64,904 | 19,397 | 137,147 | |||||||||||||||||||
| Selling, general and administrative expenses | 285,552 | 163,182 | 87,656 | 536,390 | |||||||||||||||||||
Segment operating profit (1) | $ | 469,229 | $ | 14,554 | $ | 15,966 | $ | 499,749 | |||||||||||||||
| 2024 | |||||||||||||||||||||||
| Americas | EMEA | Asia | Segment Total | ||||||||||||||||||||
| Net revenues | $ | 1,156,946 | $ | 340,255 | $ | 202,345 | $ | 1,699,546 | |||||||||||||||
Cost of goods sold | 426,678 | 146,062 | 69,134 | 641,874 | |||||||||||||||||||
| Research and development expenses | 49,004 | 32,847 | 18,574 | 100,425 | |||||||||||||||||||
| Selling, general and administrative expenses | 254,811 | 110,407 | 68,833 | 434,051 | |||||||||||||||||||
Segment operating profit (1) | $ | 426,453 | $ | 50,939 | $ | 45,804 | $ | 523,196 | |||||||||||||||
| 2023 | |||||||||||||||||||||||
| Americas | EMEA | Asia | Segment Total | ||||||||||||||||||||
| Net revenues | $ | 1,180,709 | $ | 316,972 | $ | 214,760 | $ | 1,712,441 | |||||||||||||||
Cost of goods sold | 449,242 | 138,460 | 68,762 | 656,464 | |||||||||||||||||||
| Research and development expenses | 48,523 | 48,932 | 13,842 | 111,297 | |||||||||||||||||||
| Selling, general and administrative expenses | 221,870 | 95,794 | 67,686 | 385,350 | |||||||||||||||||||
Segment operating profit (1) | $ | 461,074 | $ | 33,786 | $ | 64,470 | $ | 559,330 | |||||||||||||||
(1) Segment operating profit represents income from continuing operations before interest, loss on extinguishment of debt and taxes adjusted to exclude unallocated corporate expenses manufacturing variances other than fixed manufacturing cost absorption variances, restructuring charges, separation costs and impairment charges. See reconciliation of segment operating profit measures for further details.
| Year Ended December 31, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
Reconciliation of segment operating profit measure | |||||||||||||||||
| Segment operating profit | $ | 499,749 | $ | 523,196 | $ | 559,330 | |||||||||||
Other unallocated expenses (1) | 243,945 | 269,350 | 255,585 | ||||||||||||||
Restructuring charges, separation costs and impairment charges | 137,431 | 17,463 | 4,224 | ||||||||||||||
| Gain on sale of assets and business | — | — | (4,448) | ||||||||||||||
Pension settlement charge (2) | — | 132,732 | 45,244 | ||||||||||||||
Income from continuing operations before interest and taxes | $ | 118,373 | $ | 103,651 | $ | 258,725 | |||||||||||
(1) Other unallocated expenses include expenses within costs of goods sold, research and development and selling, general and administrative costs and primarily consist of manufacturing variances other than fixed manufacturing cost absorption variances and unallocated corporate function expenses.
(2) 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. In December 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. In 2024, we purchased a group annuity contract, using TRIP assets, which resulted in the recognition of net pre-tax settlement charges of $132.7 million for the year-ended December 31, 2024.
| Year Ended December 31, | |||||||||||||||||
Depreciation and amortization | 2025 | 2024 | 2023 | ||||||||||||||
| Americas | $ | 87,422 | $ | 96,825 | $ | 87,421 | |||||||||||
| EMEA | 56,470 | 38,140 | 32,663 | ||||||||||||||
| Asia | 15,051 | 7,856 | 7,295 | ||||||||||||||
Corporate (1) | 18,795 | 18,713 | 20,726 | ||||||||||||||
| Consolidated depreciation and amortization | $ | 177,738 | $ | 161,534 | $ | 148,105 | |||||||||||
(1)Reflects depreciation and amortization included within other allocated expenses per reconciliation of segment operating profit measure.
Geographic data
The following tables provide total net revenues and total net property, plant and equipment by geographic region for the years ended December 31, 2025, 2024 and 2023 and as of December 31, 2025 and 2024, respectively.
| Year Ended December 31, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
| Net revenues (based on selling location): | |||||||||||||||||
| U.S. | $ | 1,181,817 | $ | 1,079,343 | $ | 1,106,896 | |||||||||||
| Europe | 484,734 | 347,899 | 330,065 | ||||||||||||||
| Asia Pacific | 218,029 | 179,567 | 187,946 | ||||||||||||||
| All other | 108,133 | 92,737 | 87,534 | ||||||||||||||
| $ | 1,992,713 | $ | 1,699,546 | $ | 1,712,441 | ||||||||||||
| As of December 31, | |||||||||||||||||
| Net property, plant and equipment: | 2025 | 2024 | |||||||||||||||
| U.S. | $ | 150,964 | $ | 146,955 | |||||||||||||
| Mexico | 136,428 | 99,997 | |||||||||||||||
Switzerland | 103,951 | 137 | |||||||||||||||
Czech Republic | 48,159 | 38,605 | |||||||||||||||
Germany | 30,027 | 718 | |||||||||||||||
| All other | 28,752 | 22,049 | |||||||||||||||
| $ | 498,281 | $ | 308,461 | ||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 27, 2026 | Showing above |
| 2024 | Feb 28, 2025 | |
| 2023 | Feb 23, 2024 | |
| 2022 | Feb 23, 2023 | |
| 2021 | Mar 1, 2022 | |
| 2020 | Feb 25, 2021 | |
| 2019 | Feb 21, 2020 | |
| 2018 | Feb 21, 2019 | |
| 2017 | Feb 22, 2018 | |
| 2016 | Feb 23, 2017 | |
| 2015 | Feb 25, 2016 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.