10-Q Filing

TELEDYNE TECHNOLOGIES INC CIK: 1094285 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001094285-15-000078`
Period End Date	20150331
Filing Date	20150501
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	tdy-20150329.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 31 Cash Flow Statement 64 Comprehensive Income 15

Balance Sheet 76 line items

Line Item	Tag	Value	Unit	Period
Accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$417.50M	USD	Point-in-time
Accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$425.60M	USD	Point-in-time
Preferred stock, par value (in USD per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value (in USD per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$141.40M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$110.20M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$66.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$73.70M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock, par value (in USD per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (in USD per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$389.10M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$400.70M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	125.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	125.00M	shares	Point-in-time
Inventories, net	`InventoryNet`	$323.40M	USD	Point-in-time
Inventories, net	`InventoryNet`	$311.80M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	35.33M	shares	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$42.80M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	36.66M	shares	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$42.00M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$45.00M	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	37.70M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	37.70M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$36.60M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$941.70M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$901.30M	USD	Point-in-time
Property, plant and equipment, at cost, net of accumulated depreciation and amortization of $425.6 at March 29, 2015 and $417.5 at December 28, 2014	`PropertyPlantAndEquipmentNet`	$329.10M	USD	Point-in-time
Property, plant and equipment, at cost, net of accumulated depreciation and amortization of $425.6 at March 29, 2015 and $417.5 at December 28, 2014	`PropertyPlantAndEquipmentNet`	$336.50M	USD	Point-in-time
Goodwill	`Goodwill`	$1.15B	USD	Point-in-time
Goodwill	`Goodwill`	$1.13B	USD	Point-in-time
Acquired intangibles, net	`FiniteLivedIntangibleAssetsNet`	$277.60M	USD	Point-in-time
Acquired intangibles, net	`FiniteLivedIntangibleAssetsNet`	$264.80M	USD	Point-in-time
Prepaid pension assets	`PrepaidPensionCosts`	$94.70M	USD	Point-in-time
Prepaid pension assets	`PrepaidPensionCosts`	$86.30M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$69.50M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$69.50M	USD	Point-in-time
Total Assets	`Assets`	$2.86B	USD	Point-in-time
Total Assets	`Assets`	$2.79B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$162.50M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$152.10M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$290.30M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$244.30M	USD	Point-in-time
Current portion of long-term debt and capital leases	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$87.50M	USD	Point-in-time
Current portion of long-term debt and capital leases	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$86.20M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$483.90M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$539.00M	USD	Point-in-time
Long-term debt and capital leases	`LongTermDebtAndCapitalLeaseObligations`	$618.90M	USD	Point-in-time
Long-term debt and capital leases	`LongTermDebtAndCapitalLeaseObligations`	$742.50M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$235.80M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$237.20M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.39B	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.46B	USD	Point-in-time
Preferred stock, $0.01 par value; outstanding shares - none	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.01 par value; outstanding shares - none	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.01 par value; authorized 125 million shares; issued shares: 37,697,865 at March 29, 2015 and 37,697,865 at December 28, 2014; Outstanding shares: 35,331,555 at March 29, 2015 and 36,655,584 at December 28, 2014	`CommonStockValue`	$400.00K	USD	Point-in-time
Common stock, $0.01 par value; authorized 125 million shares; issued shares: 37,697,865 at March 29, 2015 and 37,697,865 at December 28, 2014; Outstanding shares: 35,331,555 at March 29, 2015 and 36,655,584 at December 28, 2014	`CommonStockValue`	$400.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$326.50M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$318.40M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.57B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.53B	USD	Point-in-time
Treasury stock	`TreasuryStockValue`	$102.10M	USD	Point-in-time
Treasury stock	`TreasuryStockValue`	$227.00M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-173.00M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-323.20M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-369.80M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-165.50M	USD	Point-in-time
Total Teledyne Stockholders Equity	`StockholdersEquity`	$1.43B	USD	Point-in-time
Total Teledyne Stockholders Equity	`StockholdersEquity`	$1.29B	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$38.10M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$41.20M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.47B	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.33B	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$2.79B	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$2.86B	USD	Point-in-time

Income Statement 31 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$565.00M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$573.50M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$351.70M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$345.90M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$155.80M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$151.80M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$507.50M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$497.70M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$67.30M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$66.00M	USD	1 Quarter
Interest and debt expense, net	`InterestAndDebtExpense`	$5.90M	USD	1 Quarter
Interest and debt expense, net	`InterestAndDebtExpense`	$4.70M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$600.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$800.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$61.90M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$62.20M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$18.50M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$15.90M	USD	1 Quarter
Net income	`ProfitLoss`	$46.00M	USD	1 Quarter
Net income	`ProfitLoss`	$43.70M	USD	1 Quarter
Noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$200.00K	USD	1 Quarter
Net income attributable to Teledyne	`NetIncomeLoss`	$43.70M	USD	1 Quarter
Net income attributable to Teledyne	`NetIncomeLoss`	$45.80M	USD	1 Quarter
Basic earnings per common share (in USD per share)	`EarningsPerShareBasic`	$1.22	USD	1 Quarter
Basic earnings per common share (in USD per share)	`EarningsPerShareBasic`	$1.22	USD	1 Quarter
Weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	37.50M	shares	1 Quarter
Weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	35.70M	shares	1 Quarter
Diluted earnings per common share (in USD per share)	`EarningsPerShareDiluted`	$1.20	USD	1 Quarter
Diluted earnings per common share (in USD per share)	`EarningsPerShareDiluted`	$1.20	USD	1 Quarter
Weighted average diluted common shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	36.50M	shares	1 Quarter
Weighted average diluted common shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	38.30M	shares	1 Quarter

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$46.00M	USD	1 Quarter
Net income	`ProfitLoss`	$43.70M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$23.20M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$23.20M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$400.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$500.00K	USD	1 Quarter
Stock option compensation expense	`StockOptionPlanExpense`	$3.80M	USD	1 Quarter
Stock option compensation expense	`StockOptionPlanExpense`	$2.60M	USD	1 Quarter
Excess income tax benefits from stock options exercised	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$2.90M	USD	1 Quarter
Excess income tax benefits from stock options exercised	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$800.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-7.70M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-400.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$14.20M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$15.90M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$4.60M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-600.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-8.80M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$5.10M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-39.10M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-29.30M	USD	1 Quarter
Income taxes payable, net	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$5.00M	USD	1 Quarter
Income taxes payable, net	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$11.40M	USD	1 Quarter
Long-term assets	`IncreaseDecreaseInOtherOperatingAssets`	$2.30M	USD	1 Quarter
Long-term assets	`IncreaseDecreaseInOtherOperatingAssets`	$200.00K	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$1.90M	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-1.70M	USD	1 Quarter
Accrued pension obligation	`IncreaseDecreaseInPensionPlanObligations`	$-6.10M	USD	1 Quarter
Accrued pension obligation	`IncreaseDecreaseInPensionPlanObligations`	$-3.60M	USD	1 Quarter
Accrued postretirement benefits	`IncreaseDecreaseInPostretirementObligations`	$-300.00K	USD	1 Quarter
Accrued postretirement benefits	`IncreaseDecreaseInPostretirementObligations`	$100.00K	USD	1 Quarter
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$2.10M	USD	1 Quarter
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-100.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$16.70M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$27.10M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$11.70M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.70M	USD	1 Quarter
Purchase of businesses and other investments	`PurchaseOfBusinessesAndOtherInvestmentsNetOfCashAcquired`	$18.80M	USD	1 Quarter
Proceeds from the disposal of fixed assets	`ProceedsFromSalesOfBusinessAffiliateAndProductiveAssets`	$300.00K	USD	1 Quarter
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-26.20M	USD	1 Quarter
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-11.70M	USD	1 Quarter
Net proceeds from debt	`ProceedsFromRepaymentsOfDebt`	$127.10M	USD	1 Quarter
Net proceeds from debt	`ProceedsFromRepaymentsOfDebt`	$7.90M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$6.70M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$2.70M	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$142.00M	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$23.60M	USD	1 Quarter
Excess income tax benefits from stock options exercised	`DeferredTaxExpenseFromStockOptionsExercised`	$800.00K	USD	1 Quarter
Excess income tax benefits from stock options exercised	`DeferredTaxExpenseFromStockOptionsExercised`	$2.90M	USD	1 Quarter
Issuance of cash flow hedges	`PaymentsForProceedsFromHedgeFinancingActivities`	$900.00K	USD	1 Quarter
Issuance of cash flow hedges	`PaymentsForProceedsFromHedgeFinancingActivities`	$2.30M	USD	1 Quarter
Net cash used by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-13.70M	USD	1 Quarter
Net cash used by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-7.00M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-700.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-8.00M	USD	1 Quarter
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-31.20M	USD	1 Quarter
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$7.70M	USD	1 Quarter
Cash and cash equivalentsbeginning of period	`CashAndCashEquivalentsAtCarryingValue`	$141.40M	USD	Point-in-time
Cash and cash equivalentsbeginning of period	`CashAndCashEquivalentsAtCarryingValue`	$110.20M	USD	Point-in-time
Cash and cash equivalentsbeginning of period	`CashAndCashEquivalentsAtCarryingValue`	$66.00M	USD	Point-in-time
Cash and cash equivalentsbeginning of period	`CashAndCashEquivalentsAtCarryingValue`	$73.70M	USD	Point-in-time
Cash and cash equivalentsend of period	`CashAndCashEquivalentsAtCarryingValue`	$141.40M	USD	Point-in-time
Cash and cash equivalentsend of period	`CashAndCashEquivalentsAtCarryingValue`	$110.20M	USD	Point-in-time
Cash and cash equivalentsend of period	`CashAndCashEquivalentsAtCarryingValue`	$66.00M	USD	Point-in-time
Cash and cash equivalentsend of period	`CashAndCashEquivalentsAtCarryingValue`	$73.70M	USD	Point-in-time

Comprehensive Income 15 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$46.00M	USD	1 Quarter
Net income	`ProfitLoss`	$43.70M	USD	1 Quarter
Foreign exchange translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-9.40M	USD	1 Quarter
Foreign exchange translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-49.20M	USD	1 Quarter
Hedge activity and interest rate swap, net of tax	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	$-1.00M	USD	1 Quarter
Hedge activity and interest rate swap, net of tax	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	$-2.30M	USD	1 Quarter
Pension and postretirement benefit adjustments, net of tax	`OtherComprehensiveIncomeMinimumPensionLiabilityNetAdjustmentsNetOfTax`	$-4.90M	USD	1 Quarter
Pension and postretirement benefit adjustments, net of tax	`OtherComprehensiveIncomeMinimumPensionLiabilityNetAdjustmentsNetOfTax`	$-2.90M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-7.50M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-46.60M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$38.50M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-2.90M	USD	1 Quarter
Noncontrolling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$200.00K	USD	1 Quarter
Comprehensive income (loss) attributable to Teledyne	`ComprehensiveIncomeNetOfTax`	$38.30M	USD	1 Quarter
Comprehensive income (loss) attributable to Teledyne	`ComprehensiveIncomeNetOfTax`	$-2.90M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.