10-Q Filing

TELEDYNE TECHNOLOGIES INC CIK: 1094285 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001094285-19-000080`
Period End Date	20190331
Filing Date	20190429
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	tdy-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 30 Cash Flow Statement 54 Stockholders Equity 18 Comprehensive Income 28

Balance Sheet 58 line items

Line Item	Tag	Value	Unit	Period
Cash	`Cash`	$106.20M	USD	Point-in-time
Cash	`Cash`	$142.50M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$416.50M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$410.40M	USD	Point-in-time
Unbilled receivables, net	`UnbilledReceivablesCurrent`	$145.30M	USD	Point-in-time
Unbilled receivables, net	`UnbilledReceivablesCurrent`	$154.00M	USD	Point-in-time
Inventories, net	`InventoryNet`	$393.00M	USD	Point-in-time
Inventories, net	`InventoryNet`	$364.30M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$45.80M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$53.90M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.11B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.12B	USD	Point-in-time
Property, plant and equipment, net of accumulated depreciation and amortization of $579.6 at March 31, 2019 and $566.0 at December 30, 2018	`PropertyPlantAndEquipmentNet`	$450.70M	USD	Point-in-time
Property, plant and equipment, net of accumulated depreciation and amortization of $579.6 at March 31, 2019 and $566.0 at December 30, 2018	`PropertyPlantAndEquipmentNet`	$442.60M	USD	Point-in-time
Goodwill	`Goodwill`	$1.89B	USD	Point-in-time
Goodwill	`Goodwill`	$1.74B	USD	Point-in-time
Acquired intangibles, net	`FiniteLivedIntangibleAssetsNet`	$389.00M	USD	Point-in-time
Acquired intangibles, net	`FiniteLivedIntangibleAssetsNet`	$344.30M	USD	Point-in-time
Prepaid pension assets	`PrepaidExpenseCurrentAndNoncurrent`	$88.20M	USD	Point-in-time
Prepaid pension assets	`PrepaidExpenseCurrentAndNoncurrent`	$94.80M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$134.30M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$90.30M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$84.60M	USD	Point-in-time
Total Assets	`Assets`	$4.16B	USD	Point-in-time
Total Assets	`Assets`	$3.81B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$227.80M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$227.30M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$355.60M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$364.60M	USD	Point-in-time
Current portion of long-term debt and other debt	`LongTermDebtCurrent`	$131.80M	USD	Point-in-time
Current portion of long-term debt and other debt	`LongTermDebtCurrent`	$137.40M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$723.70M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$720.80M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$724.60M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$610.10M	USD	Point-in-time
Long-term operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$126.00M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$237.90M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$248.70M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.58B	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.81B	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	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 125,000,000 shares; issued shares: 37,697,865 at March 31, 2019 and December 30, 2018; outstanding shares: 36,232,598 at March 31, 2019 and 36,087,297 at December 30, 2018	`CommonStockValue`	$400.00K	USD	Point-in-time
Common stock, $0.01 par value; authorized 125,000,000 shares; issued shares: 37,697,865 at March 31, 2019 and December 30, 2018; outstanding shares: 36,232,598 at March 31, 2019 and 36,087,297 at December 30, 2018	`CommonStockValue`	$400.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$349.80M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$343.70M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$2.60B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$2.52B	USD	Point-in-time
Treasury stock, 1,465,267 shares at March 31, 2019 and 1,610,568 shares at December 30, 2018	`TreasuryStockValue`	$144.90M	USD	Point-in-time
Treasury stock, 1,465,267 shares at March 31, 2019 and 1,610,568 shares at December 30, 2018	`TreasuryStockValue`	$129.90M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-469.80M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-493.20M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.23B	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.35B	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$3.81B	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$4.16B	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$695.60M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$745.20M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$463.90M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$438.20M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$169.00M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$184.00M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$647.90M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$607.20M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$97.30M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$88.40M	USD	1 Quarter
Interest and debt expense, net	`InterestExpense`	$5.40M	USD	1 Quarter
Interest and debt expense, net	`InterestExpense`	$7.10M	USD	1 Quarter
Non-service retirement benefit income	`NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent`	$-2.20M	USD	1 Quarter
Non-service retirement benefit income	`NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent`	$-3.40M	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-1.20M	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-2.50M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$82.20M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$92.90M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$15.70M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$17.60M	USD	1 Quarter
Net income	`NetIncomeLoss`	$75.30M	USD	1 Quarter
Net income	`NetIncomeLoss`	$66.50M	USD	1 Quarter
Basic earnings per common share (in USD per share)	`EarningsPerShareBasic`	$1.87	USD	1 Quarter
Basic earnings per common share (in USD per share)	`EarningsPerShareBasic`	$2.09	USD	1 Quarter
Weighted average basic common shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	35.60M	shares	1 Quarter
Weighted average basic common shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	36.10M	shares	1 Quarter
Diluted earnings per common share (in USD per share)	`EarningsPerShareDiluted`	$1.81	USD	1 Quarter
Diluted earnings per common share (in USD per share)	`EarningsPerShareDiluted`	$2.02	USD	1 Quarter
Weighted average diluted common shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	37.20M	shares	1 Quarter
Weighted average diluted common shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	36.80M	shares	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$75.30M	USD	1 Quarter
Net income	`NetIncomeLoss`	$66.50M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$28.80M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$27.60M	USD	1 Quarter
Stock-based compensation	`StockOptionPlanExpense`	$6.50M	USD	1 Quarter
Stock-based compensation	`StockOptionPlanExpense`	$10.80M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-6.70M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$27.00M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$6.00M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$12.40M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$10.00M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$3.60M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$9.70M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.10M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-9.00M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-15.10M	USD	1 Quarter
Deferred and income taxes receivable/payable, net	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$10.90M	USD	1 Quarter
Deferred and income taxes receivable/payable, net	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$-2.80M	USD	1 Quarter
Long-term assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$13.40M	USD	1 Quarter
Long-term assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$8.80M	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$100.00K	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$16.20M	USD	1 Quarter
Other operating, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-3.50M	USD	1 Quarter
Other operating, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$1.70M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$71.60M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$80.10M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$19.80M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$21.30M	USD	1 Quarter
Purchase of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$222.50M	USD	1 Quarter
Proceeds from the sale of assets	`ProceedsFromSaleOfProductiveAssets`	-	USD	1 Quarter
Proceeds from the sale of assets	`ProceedsFromSaleOfProductiveAssets`	$200.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-19.60M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-243.80M	USD	1 Quarter
Net proceeds from (payments on) credit facility	`ProceedsFromLinesOfCredit`	$120.00M	USD	1 Quarter
Net proceeds from (payments on) credit facility	`RepaymentsOfLinesOfCredit`	$54.50M	USD	1 Quarter
Proceeds from (payments on) other debt, net	`RepaymentsOfOtherDebt`	$5.90M	USD	1 Quarter
Proceeds from (payments on) other debt, net	`ProceedsFromOtherDebt`	$1.60M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$12.30M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$10.20M	USD	1 Quarter
Other financing, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-2.00M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$124.30M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-42.60M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-400.00K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$3.10M	USD	1 Quarter
Change in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-36.30M	USD	1 Quarter
Change in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$9.00M	USD	1 Quarter
Cashbeginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$70.90M	USD	Point-in-time
Cashbeginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$106.20M	USD	Point-in-time
Cashbeginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$79.90M	USD	Point-in-time
Cashbeginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$142.50M	USD	Point-in-time
Cashend of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$70.90M	USD	Point-in-time
Cashend of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$106.20M	USD	Point-in-time
Cashend of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$79.90M	USD	Point-in-time
Cashend of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$142.50M	USD	Point-in-time

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$2.23B	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$1.95B	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$2.35B	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$2.06B	USD	Point-in-time
Net income	`NetIncomeLoss`	$75.30M	USD	1 Quarter
Net income	`NetIncomeLoss`	$66.50M	USD	1 Quarter
Other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$23.40M	USD	1 Quarter
Other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$19.90M	USD	1 Quarter
Treasury stock issued	`TreasuryStockValueAcquiredCostMethod`	-	USD	1 Quarter
Treasury stock issued	`TreasuryStockValueAcquiredCostMethod`	-	USD	1 Quarter
Stock-based compensation	`StockGrantedDuringPeriodValueSharebasedCompensationGross`	$10.90M	USD	1 Quarter
Stock-based compensation	`StockGrantedDuringPeriodValueSharebasedCompensationGross`	$6.60M	USD	1 Quarter
Exercise of stock options and other	`ExerciseOfStockOptionsAndOtherNet`	$12.30M	USD	1 Quarter
Exercise of stock options and other	`ExerciseOfStockOptionsAndOtherNet`	$10.20M	USD	1 Quarter
Ending balance	`StockholdersEquity`	$2.23B	USD	Point-in-time
Ending balance	`StockholdersEquity`	$1.95B	USD	Point-in-time
Ending balance	`StockholdersEquity`	$2.35B	USD	Point-in-time
Ending balance	`StockholdersEquity`	$2.06B	USD	Point-in-time

Comprehensive Income 28 line items

Line Item	Tag	Value	Unit	Period
Accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$579.60M	USD	Point-in-time
Net income	`NetIncomeLoss`	$75.30M	USD	1 Quarter
Accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$566.00M	USD	Point-in-time
Net income	`NetIncomeLoss`	$66.50M	USD	1 Quarter
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
Foreign exchange translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$17.20M	USD	1 Quarter
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Foreign exchange translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$17.00M	USD	1 Quarter
Common stock, par value (in USD per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Hedge activity, net of tax	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent`	$-1.60M	USD	1 Quarter
Common stock, par value (in USD per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Hedge activity, net of tax	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent`	$1.80M	USD	1 Quarter
Pension and postretirement benefit adjustments, net of tax	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-4.60M	USD	1 Quarter
Pension and postretirement benefit adjustments, net of tax	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-4.30M	USD	1 Quarter
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	125.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	125.00M	shares	Point-in-time
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$23.40M	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$19.90M	USD	1 Quarter
Common stock, shares, issued (in shares)	`CommonStockSharesIssued`	37.70M	shares	Point-in-time
Common stock, shares, issued (in shares)	`CommonStockSharesIssued`	37.70M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	36.23M	shares	Point-in-time
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$98.70M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$86.40M	USD	1 Quarter
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	36.09M	shares	Point-in-time
Treasury stock (in shares)	`TreasuryStockShares`	1.61M	shares	Point-in-time
Treasury stock (in shares)	`TreasuryStockShares`	1.47M	shares	Point-in-time

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