$TDY

TELEDYNE TECHNOLOGIES INC

CIK:0001094285|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 28, 2026	Jun. 29, 2025	Jun. 28, 2026	Jun. 29, 2025
Income Statement [Abstract]
Net sales	$ 1,662.5	$ 1,513.7	$ 3,222.6	$ 2,963.6
Costs and expenses
Cost of sales	924.4	869.1	1,810.7	1,699.5
Selling, general and administrative	258.7	229.4	496.1	463.3
Research and development	90.2	82.4	174.8	156.7
Acquired intangible asset amortization	56.0	54.6	113.6	106.6
Total costs and expenses	1,329.3	1,235.5	2,595.2	2,426.1
Operating income (loss)	333.2	278.2	627.4	537.5
Interest and debt income (expense), net	(13.6)	(17.6)	(25.9)	(34.9)
Non-service retirement benefit income (expense), net	2.6	2.7	5.3	5.5
Other income (expense), net	(0.9)	(2.7)	(6.8)	(8.6)
Income (loss) before income taxes	321.3	260.6	600.0	499.5
Provision (benefit) for income taxes	69.6	50.2	121.5	100.3
Net income (loss) including noncontrolling interest	251.7	210.4	478.5	399.2
Less: Net income (loss) attributable to noncontrolling interest	0.0	0.5	0.0	0.7
Net income (loss) attributable to Teledyne	$ 251.7	$ 209.9	$ 478.5	$ 398.5
Basic earnings per common share (in USD per share)	$ 5.44	$ 4.48	$ 10.33	$ 8.51
Weighted average common shares outstanding (in shares)	46.3	46.9	46.3	46.8
Diluted earnings per common share (in USD per share)	$ 5.37	$ 4.43	$ 10.20	$ 8.41
Weighted average diluted common shares outstanding (in shares)	46.9	47.4	46.9	47.4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 28, 2026	Jun. 29, 2025
Operating Activities
Net income (loss) including noncontrolling interest	$ 478.5	$ 399.2
Adjustments to reconcile net income (loss) including noncontrolling interest to net cash provided by (used in) operating activities:
Depreciation and amortization	172.9	167.2
Stock-based compensation	19.5	20.2
Changes in operating assets and liabilities excluding the effect of business acquired:
Accounts receivable and unbilled receivables	(10.8)	(22.2)
Inventories	(139.5)	(45.3)
Accounts payable	15.3	3.3
Deferred taxes and income taxes receivable (payable), net	(5.1)	(72.4)
Prepaid expenses and other assets	(39.6)	(11.6)
Accrued expenses and other liabilities	45.2	(12.9)
Other operating, net	12.8	43.7
Net cash provided by (used in) operating activities	549.2	469.2
Investing Activities
Purchases of property, plant and equipment	(60.2)	(48.3)
Purchases of businesses, net of cash acquired	(53.4)	(757.6)
Other investing, net	(5.2)	0.7
Net cash provided by (used in) investing activities	(118.8)	(805.2)
Financing Activities
Proceeds from (payments on) fixed rate senior notes	(450.0)	(30.0)
Proceeds from (payments on) other debt	(0.6)	(1.0)
Purchases of treasury stock, including excise tax	(2.9)	(2.9)
Proceeds from exercise of stock options	32.2	34.2
Other financing, net	(15.4)	(5.1)
Net cash provided by (used in) financing activities	(436.7)	(4.8)
Effects of exchange rate changes on cash	(6.0)	1.9
Change in cash and cash equivalents	(12.3)	(338.9)
Cash and cash equivalents—beginning of period	352.4	649.8
Cash and cash equivalents—end of period	$ 340.1	$ 310.9

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 28, 2026	Dec. 28, 2025
Current Assets
Cash and cash equivalents	$ 340.1	$ 352.4
Accounts receivable, net	937.7	992.4
Unbilled receivables, net	425.8	374.6
Inventories, net	1,166.4	1,043.3
Prepaid expenses and other current assets	330.6	292.9
Total current assets	3,200.6	3,055.6
Property, plant and equipment, net of accumulated depreciation and amortization of $1,146.3 at June 28, 2026 and $1,107.9 at December 28, 2025	833.8	839.1
Goodwill	8,661.9	8,687.6
Acquired intangibles, net	1,984.2	2,100.1
Prepaid pension assets	295.3	286.2
Other assets, net	304.6	316.7
Total Assets	15,280.4	15,285.3
Current Liabilities
Accounts payable	492.3	486.6
Accrued liabilities	975.0	923.4
Current portion of long-term debt	0.1	450.1
Total current liabilities	1,467.4	1,860.1
Long-term debt, net of current portion	2,026.9	2,025.3
Long-term deferred tax liabilities	378.2	369.6
Other long-term liabilities	489.4	516.4
Total Liabilities	4,361.9	4,771.4
Commitments and contingencies (see Note 15)
Redeemable Noncontrolling Interest	0.0	0.0
Stockholders’ Equity
Preferred stock, $0.01 par value; outstanding shares—none	0.0	0.0
Common stock, $0.01 par value; issued shares: 47,417,939 at June 28, 2026 and 47,424,847 at December 28, 2025; outstanding shares: 46,355,253 at June 28, 2026 and 46,185,578 at December 28, 2025	0.5	0.5
Additional paid-in capital	4,352.9	4,383.2
Retained earnings	7,619.3	7,140.8
Treasury stock, 1,062,686 shares at June 28, 2026 and 1,239,269 at December 28, 2025	(519.1)	(585.2)
Accumulated other comprehensive income (loss)	(535.1)	(425.4)
Total Stockholders’ Equity	10,918.5	10,513.9
Total Liabilities, Redeemable Noncontrolling Interest and Stockholders’ Equity	$ 15,280.4	$ 15,285.3