10-Q Filing

TELEDYNE TECHNOLOGIES INC CIK: 1094285 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001094285-20-000068`
Period End Date	20200331
Filing Date	20200422
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	tdy-20200329_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 30 Cash Flow Statement 51 Stockholders Equity 18 Comprehensive Income 12

Balance Sheet 78 line items

Line Item	Tag	Value	Unit	Period
Accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$623.90M	USD	Point-in-time
Accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$634.00M	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
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$231.40M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$199.50M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock, par value (in USD per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$450.20M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$460.40M	USD	Point-in-time
Common stock, par value (in USD per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Unbilled receivables, net	`UnbilledReceivablesCurrent`	$200.50M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	125.00M	shares	Point-in-time
Unbilled receivables, net	`UnbilledReceivablesCurrent`	$217.90M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	125.00M	shares	Point-in-time
Inventories, net	`InventoryNet`	$401.10M	USD	Point-in-time
Common stock, shares, issued (in shares)	`CommonStockSharesIssued`	37.70M	shares	Point-in-time
Inventories, net	`InventoryNet`	$393.40M	USD	Point-in-time
Common stock, shares, issued (in shares)	`CommonStockSharesIssued`	37.70M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	36.55M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$59.90M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$63.20M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	36.66M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.31B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.36B	USD	Point-in-time
Treasury stock (in shares)	`TreasuryStockShares`	1.15M	shares	Point-in-time
Treasury stock (in shares)	`TreasuryStockShares`	1.04M	shares	Point-in-time
Property, plant and equipment, net of accumulated depreciation and amortization of $634.0 at March 29, 2020 and $623.9 at December 29, 2019	`PropertyPlantAndEquipmentNet`	$475.50M	USD	Point-in-time
Property, plant and equipment, net of accumulated depreciation and amortization of $634.0 at March 29, 2020 and $623.9 at December 29, 2019	`PropertyPlantAndEquipmentNet`	$487.90M	USD	Point-in-time
Goodwill	`Goodwill`	$2.05B	USD	Point-in-time
Goodwill	`Goodwill`	$2.05B	USD	Point-in-time
Acquired intangibles, net	`FiniteLivedIntangibleAssetsNet`	$430.80M	USD	Point-in-time
Acquired intangibles, net	`FiniteLivedIntangibleAssetsNet`	$411.80M	USD	Point-in-time
Prepaid pension assets	`PrepaidExpenseCurrentAndNoncurrent`	$77.40M	USD	Point-in-time
Prepaid pension assets	`PrepaidExpenseCurrentAndNoncurrent`	$71.80M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$127.10M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$123.20M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$98.00M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$79.60M	USD	Point-in-time
Total Assets	`Assets`	$4.58B	USD	Point-in-time
Total Assets	`Assets`	$4.58B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$271.10M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$263.40M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$391.50M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$395.60M	USD	Point-in-time
Current portion of long-term debt and other debt	`LongTermDebtCurrent`	$100.60M	USD	Point-in-time
Current portion of long-term debt and other debt	`LongTermDebtCurrent`	$100.60M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$759.60M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$763.20M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$750.00M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$749.10M	USD	Point-in-time
Long-term operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$115.20M	USD	Point-in-time
Long-term operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$119.30M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$208.10M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$232.60M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.83B	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.87B	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 29, 2020 and December 29, 2019; outstanding shares: 36,657,467 at March 29, 2020 and 36,547,966 at December 29, 2019	`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 29, 2020 and December 29, 2019; outstanding shares: 36,657,467 at March 29, 2020 and 36,547,966 at December 29, 2019	`CommonStockValue`	$400.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$360.50M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$370.90M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$3.01B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$2.93B	USD	Point-in-time
Treasury stock, 1,040,398 shares at March 29, 2020 and 1,149,899 shares at December 29, 2019	`TreasuryStockValue`	$87.00M	USD	Point-in-time
Treasury stock, 1,040,398 shares at March 29, 2020 and 1,149,899 shares at December 29, 2019	`TreasuryStockValue`	$96.40M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-475.80M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-539.50M	USD	Point-in-time
Stockholders' Equity Attributable to Parent, Total	`StockholdersEquity`	$2.23B	USD	Point-in-time
Stockholders' Equity Attributable to Parent, Total	`StockholdersEquity`	$2.71B	USD	Point-in-time
Stockholders' Equity Attributable to Parent, Total	`StockholdersEquity`	$2.35B	USD	Point-in-time
Stockholders' Equity Attributable to Parent, Total	`StockholdersEquity`	$2.75B	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$4.58B	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$4.58B	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$745.20M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$784.60M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$492.60M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$463.90M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$184.00M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$188.00M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$647.90M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$680.60M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$97.30M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$104.00M	USD	1 Quarter
Interest and debt expense, net	`InterestExpense`	$4.10M	USD	1 Quarter
Interest and debt expense, net	`InterestExpense`	$5.40M	USD	1 Quarter
Non-service retirement benefit income	`NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent`	$-2.50M	USD	1 Quarter
Non-service retirement benefit income	`NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent`	$-2.20M	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-1.40M	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-1.20M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$101.00M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$92.90M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$17.60M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$18.80M	USD	1 Quarter
Net income	`NetIncomeLoss`	$82.20M	USD	1 Quarter
Net income	`NetIncomeLoss`	$75.30M	USD	1 Quarter
Basic earnings per common share (in USD per share)	`EarningsPerShareBasic`	$2.25	USD	1 Quarter
Basic earnings per common share (in USD per share)	`EarningsPerShareBasic`	$2.09	USD	1 Quarter
Weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	36.10M	shares	1 Quarter
Weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	36.60M	shares	1 Quarter
Diluted earnings per common share (in USD per share)	`EarningsPerShareDiluted`	$2.17	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`	37.80M	shares	1 Quarter

Cash Flow Statement 51 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$82.20M	USD	1 Quarter
Net income	`NetIncomeLoss`	$75.30M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$27.60M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$29.30M	USD	1 Quarter
Stock-based compensation	`StockOptionPlanExpense`	$9.60M	USD	1 Quarter
Stock-based compensation	`StockOptionPlanExpense`	$10.80M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-6.70M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$14.60M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$16.40M	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`	$1.90M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.10M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.00M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-15.10M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-12.90M	USD	1 Quarter
Deferred and income taxes receivable/payable, net	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$9.10M	USD	1 Quarter
Deferred and income taxes receivable/payable, net	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$-2.80M	USD	1 Quarter
Long-term assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-11.90M	USD	1 Quarter
Long-term assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$13.40M	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-21.70M	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$16.20M	USD	1 Quarter
Other operating, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-2.80M	USD	1 Quarter
Other operating, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$1.70M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$80.10M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$76.40M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$20.20M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$21.30M	USD	1 Quarter
Purchase of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$28.90M	USD	1 Quarter
Purchase of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$222.50M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-243.80M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-49.10M	USD	1 Quarter
Net proceeds from credit facility	`ProceedsFromLinesOfCredit`	$120.00M	USD	1 Quarter
Net payments on other debt	`RepaymentsOfOtherDebt`	$5.90M	USD	1 Quarter
Net payments on other debt	`RepaymentsOfOtherDebt`	$300.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$10.20M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$10.20M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$124.30M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$9.90M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-5.30M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.10M	USD	1 Quarter
Change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-36.30M	USD	1 Quarter
Change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$31.90M	USD	1 Quarter
Cash and cash equivalentsbeginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$106.20M	USD	Point-in-time
Cash and cash equivalentsbeginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$142.50M	USD	Point-in-time
Cash and cash equivalentsbeginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$199.50M	USD	Point-in-time
Cash and cash equivalentsbeginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$231.40M	USD	Point-in-time
Cash and cash equivalentsend of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$106.20M	USD	Point-in-time
Cash and cash equivalentsend of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$142.50M	USD	Point-in-time
Cash and cash equivalentsend of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$199.50M	USD	Point-in-time
Cash and cash equivalentsend of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$231.40M	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`	$2.71B	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$2.35B	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$2.75B	USD	Point-in-time
Net income	`NetIncomeLoss`	$82.20M	USD	1 Quarter
Net income	`NetIncomeLoss`	$75.30M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$23.40M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-63.70M	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`	$9.60M	USD	1 Quarter
Exercise of stock options and other	`ExerciseOfStockOptionsAndOtherNet`	$10.20M	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`	$2.71B	USD	Point-in-time
Ending balance	`StockholdersEquity`	$2.35B	USD	Point-in-time
Ending balance	`StockholdersEquity`	$2.75B	USD	Point-in-time

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$82.20M	USD	1 Quarter
Net income	`NetIncomeLoss`	$75.30M	USD	1 Quarter
Foreign exchange translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-61.30M	USD	1 Quarter
Foreign exchange translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$17.00M	USD	1 Quarter
Hedge activity, net of tax	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$-5.90M	USD	1 Quarter
Hedge activity, net of tax	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$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`	$-3.50M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$23.40M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-63.70M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$98.70M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$18.50M	USD	1 Quarter

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