10-Q Filing

TELEDYNE TECHNOLOGIES INC CIK: 1094285 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001094285-21-000111`
Period End Date	20210331
Filing Date	20210430
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	tdy-20210404_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 30 Cash Flow Statement 54 Stockholders Equity 18 Comprehensive Income 12

Balance Sheet 78 line items

Line Item	Tag	Value	Unit	Period
Accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$684.70M	USD	Point-in-time
Accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$673.40M	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`	$3.23B	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$673.10M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$435.50M	USD	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`	$402.00M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	125.00M	shares	Point-in-time
Unbilled receivables, net	`UnbilledReceivablesCurrent`	$203.70M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	125.00M	shares	Point-in-time
Unbilled receivables, net	`UnbilledReceivablesCurrent`	$222.10M	USD	Point-in-time
Inventories, net	`InventoryNet`	$328.00M	USD	Point-in-time
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
Inventories, net	`InventoryNet`	$347.30M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$79.20M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	36.95M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	37.06M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$78.10M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.72B	USD	Point-in-time
Treasury stock (in shares)	`TreasuryStockShares`	746,258.00	shares	Point-in-time
Treasury stock (in shares)	`TreasuryStockShares`	637,027.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$4.28B	USD	Point-in-time
Property, plant and equipment, net of accumulated depreciation and amortization of $684.7 at April 4, 2021 and $673.4 at January 3, 2021	`PropertyPlantAndEquipmentNet`	$489.30M	USD	Point-in-time
Property, plant and equipment, net of accumulated depreciation and amortization of $684.7 at April 4, 2021 and $673.4 at January 3, 2021	`PropertyPlantAndEquipmentNet`	$484.70M	USD	Point-in-time
Goodwill	`Goodwill`	$2.14B	USD	Point-in-time
Goodwill	`Goodwill`	$2.15B	USD	Point-in-time
Acquired intangibles, net	`FiniteLivedIntangibleAssetsNet`	$397.10M	USD	Point-in-time
Acquired intangibles, net	`FiniteLivedIntangibleAssetsNet`	$409.70M	USD	Point-in-time
Prepaid pension assets	`DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent`	$67.90M	USD	Point-in-time
Prepaid pension assets	`DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent`	$74.30M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$123.40M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$119.40M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$121.90M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$122.20M	USD	Point-in-time
Total Assets	`Assets`	$5.08B	USD	Point-in-time
Total Assets	`Assets`	$7.62B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$229.10M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$249.90M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$434.20M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$402.50M	USD	Point-in-time
Current portion of long-term debt and other debt	`LongTermDebtCurrent`	-	USD	Point-in-time
Current portion of long-term debt and other debt	`LongTermDebtCurrent`	$97.60M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$652.40M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$760.90M	USD	Point-in-time
Long-term debt, net of current portion	`LongTermDebtNoncurrent`	$680.90M	USD	Point-in-time
Long-term debt, net of current portion	`LongTermDebtNoncurrent`	$3.24B	USD	Point-in-time
Long-term operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$116.50M	USD	Point-in-time
Long-term operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$111.90M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$274.50M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$297.90M	USD	Point-in-time
Total Liabilities	`Liabilities`	$4.28B	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.86B	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 April 4, 2021 and January 3, 2021; outstanding shares: 37,060,838 at April 4, 2021 and 36,951,607 at January 3, 2021	`CommonStockValue`	$400.00K	USD	Point-in-time
Common stock, $0.01 par value; authorized 125,000,000 shares; issued shares: 37,697,865 at April 4, 2021 and January 3, 2021; outstanding shares: 37,060,838 at April 4, 2021 and 36,951,607 at January 3, 2021	`CommonStockValue`	$400.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$398.40M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$389.90M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$3.41B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$3.33B	USD	Point-in-time
Treasury stock, 637,027 shares at April 4, 2021 and 746,258 shares at January 3, 2021	`TreasuryStockValue`	$59.50M	USD	Point-in-time
Treasury stock, 637,027 shares at April 4, 2021 and 746,258 shares at January 3, 2021	`TreasuryStockValue`	$50.20M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-424.90M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-430.10M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$3.23B	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$2.75B	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$3.34B	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$2.71B	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$7.62B	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$5.08B	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$805.70M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$784.60M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$492.50M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$492.60M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$178.00M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$188.00M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$670.50M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$680.60M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$104.00M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$135.20M	USD	1 Quarter
Interest and debt expense, net	`InterestExpense`	$4.10M	USD	1 Quarter
Interest and debt expense, net	`InterestExpense`	$35.70M	USD	1 Quarter
Non-service retirement benefit income	`NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent`	$-2.50M	USD	1 Quarter
Non-service retirement benefit income	`NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent`	$-2.80M	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-1.40M	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-1.00M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$101.00M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$101.30M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$18.80M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$16.60M	USD	1 Quarter
Total	`NetIncomeLoss`	$84.70M	USD	1 Quarter
Total	`NetIncomeLoss`	$82.20M	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`	$2.29	USD	1 Quarter
Weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	37.00M	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`	$2.23	USD	1 Quarter
Diluted earnings per common share (in USD per share)	`EarningsPerShareDiluted`	$2.17	USD	1 Quarter
Weighted average diluted common shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	37.80M	shares	1 Quarter
Weighted average diluted common shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	38.00M	shares	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$84.70M	USD	1 Quarter
Net income	`NetIncomeLoss`	$82.20M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$29.30M	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`	$7.00M	USD	1 Quarter
Bridge financing and debt extinguishment expense	`BridgeFinancingAndDebtExtinguishmentExpense`	-	USD	1 Quarter
Bridge financing and debt extinguishment expense	`BridgeFinancingAndDebtExtinguishmentExpense`	$30.50M	USD	1 Quarter
Accounts receivable and unbilled receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$17.20M	USD	1 Quarter
Accounts receivable and unbilled receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$14.60M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-17.80M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$16.40M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.00M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$24.30M	USD	1 Quarter
Deferred and income taxes receivable/payable, net	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$9.10M	USD	1 Quarter
Deferred and income taxes receivable/payable, net	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$-4.10M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-10.00M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$100.00K	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-50.20M	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-34.60M	USD	1 Quarter
Other operating, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-2.80M	USD	1 Quarter
Other operating, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-2.90M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$124.90M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$76.40M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$17.60M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$20.20M	USD	1 Quarter
Purchase of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$28.90M	USD	1 Quarter
Purchase of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-17.60M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-49.10M	USD	1 Quarter
Net proceeds from fixed rate notes	`ProceedsFromIssuanceOfDebt`	$2.98B	USD	1 Quarter
Net proceeds from fixed rate notes	`ProceedsFromIssuanceOfDebt`	-	USD	1 Quarter
Net payments on other debt	`RepaymentsOfOtherDebt`	$300.00K	USD	1 Quarter
Net payments on other debt	`RepaymentsOfOtherDebt`	$496.50M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$10.20M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$10.80M	USD	1 Quarter
Payments for bridge financing and debt extinguishment	`PaymentsOfDebtExtinguishmentCosts`	-	USD	1 Quarter
Payments for bridge financing and debt extinguishment	`PaymentsOfDebtExtinguishmentCosts`	$30.50M	USD	1 Quarter
Other financing, net	`ProceedsFromPaymentsForOtherFinancingActivities`	-	USD	1 Quarter
Other financing, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-5.60M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.45B	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$9.90M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-200.00K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-5.30M	USD	1 Quarter
Change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$2.56B	USD	1 Quarter
Change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$31.90M	USD	1 Quarter
Cash and cash equivalentsbeginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.23B	USD	Point-in-time
Cash and cash equivalentsbeginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$231.40M	USD	Point-in-time
Cash and cash equivalentsbeginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$673.10M	USD	Point-in-time
Cash and cash equivalentsbeginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$199.50M	USD	Point-in-time
Cash and cash equivalentsend of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.23B	USD	Point-in-time
Cash and cash equivalentsend of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$231.40M	USD	Point-in-time
Cash and cash equivalentsend of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$673.10M	USD	Point-in-time
Cash and cash equivalentsend of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$199.50M	USD	Point-in-time

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$3.23B	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$2.75B	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$3.34B	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$2.71B	USD	Point-in-time
Net income	`NetIncomeLoss`	$84.70M	USD	1 Quarter
Net income	`NetIncomeLoss`	$82.20M	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-63.70M	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$5.20M	USD	1 Quarter
Treasury stock issued	`TreasuryStockValueAcquiredCostMethod`	-	USD	1 Quarter
Treasury stock issued	`TreasuryStockValueAcquiredCostMethod`	-	USD	1 Quarter
Stock-based compensation	`StockGrantedDuringPeriodValueSharebasedCompensationGross`	$7.00M	USD	1 Quarter
Stock-based compensation	`StockGrantedDuringPeriodValueSharebasedCompensationGross`	$9.60M	USD	1 Quarter
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$10.20M	USD	1 Quarter
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$10.80M	USD	1 Quarter
Ending balance	`StockholdersEquity`	$3.23B	USD	Point-in-time
Ending balance	`StockholdersEquity`	$2.75B	USD	Point-in-time
Ending balance	`StockholdersEquity`	$3.34B	USD	Point-in-time
Ending balance	`StockholdersEquity`	$2.71B	USD	Point-in-time

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$84.70M	USD	1 Quarter
Net income	`NetIncomeLoss`	$82.20M	USD	1 Quarter
Foreign exchange translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-61.30M	USD	1 Quarter
Foreign exchange translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$1.00M	USD	1 Quarter
Hedge activity, net of tax	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$-100.00K	USD	1 Quarter
Hedge activity, net of tax	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$-5.90M	USD	1 Quarter
Pension and postretirement benefit adjustments, net of tax	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-4.30M	USD	1 Quarter
Pension and postretirement benefit adjustments, net of tax	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-3.50M	USD	1 Quarter
Net other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-63.70M	USD	1 Quarter
Net other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$5.20M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$18.50M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$89.90M	USD	1 Quarter

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