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10-Q Filing

TELEDYNE TECHNOLOGIES INC CIK: 1094285 Q1 2023
Filing Information
Form Type 10-Q
Accession Number 0001094285-23-000083
Period End Date 20230331
Filing Date 20230428
Fiscal Year 2023
Fiscal Period Q1
XBRL Instance tdy-20230402_htm.xml
Balance Sheet 78 line items
Line Item Tag Value Unit Period
Accumulated depreciation and amortization AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $876.20M USD Point-in-time
Accumulated depreciation and amortization AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $847.80M 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 $665.20M USD Point-in-time
Preferred stock, shares outstanding (in shares) PreferredStockSharesOutstanding 0.00 shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $638.10M 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 $827.90M USD Point-in-time
Common stock, par value (in USD per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $883.70M USD Point-in-time
Common stock, shares authorized (in shares) CommonStockSharesAuthorized 125.00M shares Point-in-time
Unbilled receivables, net UnbilledReceivablesCurrent $274.70M USD Point-in-time
Unbilled receivables, net UnbilledReceivablesCurrent $292.20M USD Point-in-time
Common stock, shares authorized (in shares) CommonStockSharesAuthorized 125.00M shares Point-in-time
Inventories, net InventoryNet $951.70M USD Point-in-time
Inventories, net InventoryNet $890.70M USD Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 47.19M shares Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 47.19M shares Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $130.70M USD Point-in-time
Common stock, shares outstanding (in shares) CommonStockSharesOutstanding 46.91M shares Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $145.40M USD Point-in-time
Common stock, shares outstanding (in shares) CommonStockSharesOutstanding 47.04M shares Point-in-time
Total current assets AssetsCurrent $2.88B USD Point-in-time
Treasury stock (in shares) TreasuryStockCommonShares 157,301.00 shares Point-in-time
Treasury stock (in shares) TreasuryStockCommonShares 282,131.00 shares Point-in-time
Total current assets AssetsCurrent $2.82B USD Point-in-time
Property, plant and equipment, net of accumulated depreciation and amortization of $876.2 at April 2, 2023 and $847.8 at January 1, 2023 PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization $765.30M USD Point-in-time
Property, plant and equipment, net of accumulated depreciation and amortization of $876.2 at April 2, 2023 and $847.8 at January 1, 2023 PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization $769.80M USD Point-in-time
Goodwill Goodwill $7.87B USD Point-in-time
Goodwill Goodwill $7.93B USD Point-in-time
Acquired intangibles, net IntangibleAssetsNetExcludingGoodwill $2.41B USD Point-in-time
Acquired intangibles, net IntangibleAssetsNetExcludingGoodwill $2.44B USD Point-in-time
Prepaid pension assets DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent $182.40M USD Point-in-time
Prepaid pension assets DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent $178.40M USD Point-in-time
Other assets, net OtherAssetsNoncurrent $268.30M USD Point-in-time
Other assets, net OtherAssetsNoncurrent $274.30M USD Point-in-time
Total Assets Assets $14.35B USD Point-in-time
Total Assets Assets $14.43B USD Point-in-time
Accounts payable AccountsPayableCurrent $495.00M USD Point-in-time
Accounts payable AccountsPayableCurrent $505.70M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $692.90M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $717.60M USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $300.10M USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $300.10M USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.49B USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.52B USD Point-in-time
Long-term debt, net of current portion LongTermDebtNoncurrent $3.62B USD Point-in-time
Long-term debt, net of current portion LongTermDebtNoncurrent $3.52B USD Point-in-time
Long-term deferred tax liabilities DeferredIncomeTaxLiabilitiesNet $482.40M USD Point-in-time
Long-term deferred tax liabilities DeferredIncomeTaxLiabilitiesNet $490.00M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $569.20M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $547.20M USD Point-in-time
Total Liabilities Liabilities $6.18B USD Point-in-time
Total Liabilities Liabilities $6.06B USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Redeemable Noncontrolling Interest TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests $3.70M USD Point-in-time
Redeemable Noncontrolling Interest TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests $3.70M 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: 47,194,766 at April 2, 2023 and 47,194,766 at January 1, 2023; outstanding shares: 47,037,465 at April 2, 2023 and 46,912,635 at January 1, 2023 CommonStockValue $500.00K USD Point-in-time
Common stock, $0.01 par value; authorized 125,000,000 shares; issued shares: 47,194,766 at April 2, 2023 and 47,194,766 at January 1, 2023; outstanding shares: 47,037,465 at April 2, 2023 and 46,912,635 at January 1, 2023 CommonStockValue $500.00K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $4.36B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $4.35B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $4.74B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $4.56B USD Point-in-time
Treasury stock, 157,301 shares at April 2, 2023 and 282,131 shares at January 1, 2023 TreasuryStockCommonValue $9.40M USD Point-in-time
Treasury stock, 157,301 shares at April 2, 2023 and 282,131 shares at January 1, 2023 TreasuryStockCommonValue $20.00M USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-726.80M USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-726.50M USD Point-in-time
Total Stockholders Equity StockholdersEquity $7.62B USD Point-in-time
Total Stockholders Equity StockholdersEquity $8.37B USD Point-in-time
Total Stockholders Equity StockholdersEquity $7.83B USD Point-in-time
Total Stockholders Equity StockholdersEquity $8.17B USD Point-in-time
Total Liabilities, Redeemable Noncontrolling Interest and Stockholders' Equity LiabilitiesAndStockholdersEquity $14.35B USD Point-in-time
Total Liabilities, Redeemable Noncontrolling Interest and Stockholders' Equity LiabilitiesAndStockholdersEquity $14.43B USD Point-in-time
Income Statement 36 line items
Line Item Tag Value Unit Period
Net sales RevenueFromContractWithCustomerExcludingAssessedTax $1.32B USD 1 Quarter
Net sales RevenueFromContractWithCustomerExcludingAssessedTax $1.38B USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $790.70M USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $752.60M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $291.30M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $300.40M USD 1 Quarter
Acquired intangible asset amortization AmortizationOfIntangibleAssets $49.70M USD 1 Quarter
Acquired intangible asset amortization AmortizationOfIntangibleAssets $53.60M USD 1 Quarter
Total costs and expenses CostsAndExpenses $1.10B USD 1 Quarter
Total costs and expenses CostsAndExpenses $1.14B USD 1 Quarter
Operating income (loss) OperatingIncomeLoss $223.50M USD 1 Quarter
Operating income (loss) OperatingIncomeLoss $242.50M USD 1 Quarter
Interest and debt income (expense), net InterestExpense $22.30M USD 1 Quarter
Interest and debt income (expense), net InterestExpense $21.00M USD 1 Quarter
Non-service retirement benefit income (expense), net NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent $-2.80M USD 1 Quarter
Non-service retirement benefit income (expense), net NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent $-3.30M USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $-1.00M USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $-1.10M USD 1 Quarter
Income (loss) before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $223.70M USD 1 Quarter
Income (loss) before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $203.00M USD 1 Quarter
Provision (benefit) for income taxes IncomeTaxExpenseBenefit $-9.60M USD 1 Quarter
Provision (benefit) for income taxes IncomeTaxExpenseBenefit $44.90M USD 1 Quarter
Net income (loss) including noncontrolling interest ProfitLoss $178.80M USD 1 Quarter
Net income (loss) including noncontrolling interest ProfitLoss $212.60M USD 1 Quarter
Less: Net income (loss) attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest - USD 1 Quarter
Less: Net income (loss) attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $100.00K USD 1 Quarter
Total NetIncomeLoss $178.70M USD 1 Quarter
Total NetIncomeLoss $212.60M USD 1 Quarter
Basic earnings per common share (in USD per share) EarningsPerShareBasic $4.55 USD 1 Quarter
Basic earnings per common share (in USD per share) EarningsPerShareBasic $3.81 USD 1 Quarter
Weighted average common shares outstanding (in shares) WeightedAverageNumberOfSharesOutstandingBasic 46.70M shares 1 Quarter
Weighted average common shares outstanding (in shares) WeightedAverageNumberOfSharesOutstandingBasic 46.90M shares 1 Quarter
Diluted earnings per common share (in USD per share) EarningsPerShareDiluted $3.73 USD 1 Quarter
Diluted earnings per common share (in USD per share) EarningsPerShareDiluted $4.46 USD 1 Quarter
Weighted average diluted common shares outstanding (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 47.70M shares 1 Quarter
Weighted average diluted common shares outstanding (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 47.90M shares 1 Quarter
Cash Flow Statement 54 line items
Line Item Tag Value Unit Period
Net income (loss) including noncontrolling interest ProfitLoss $178.80M USD 1 Quarter
Net income (loss) including noncontrolling interest ProfitLoss $212.60M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $82.10M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $86.90M USD 1 Quarter
Stock-based compensation StockOptionPlanExpense $7.90M USD 1 Quarter
Stock-based compensation StockOptionPlanExpense $9.00M USD 1 Quarter
Accounts receivable and unbilled receivables IncreaseDecreaseInAccountsAndOtherReceivables $-50.00M USD 1 Quarter
Accounts receivable and unbilled receivables IncreaseDecreaseInAccountsAndOtherReceivables $57.20M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $56.60M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $57.60M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $33.10M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-10.80M USD 1 Quarter
Deferred and income taxes receivable/payable, net IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable $7.20M USD 1 Quarter
Deferred and income taxes receivable/payable, net IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable $5.60M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $2.40M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $11.30M USD 1 Quarter
Accrued expenses and other liabilities IncreaseDecreaseInAccruedLiabilities $-451.50M USD 1 Quarter
Accrued expenses and other liabilities IncreaseDecreaseInAccruedLiabilities $-34.60M USD 1 Quarter
Other operating, net IncreaseDecreaseInOtherOperatingCapitalNet $-3.80M USD 1 Quarter
Other operating, net IncreaseDecreaseInOtherOperatingCapitalNet $8.70M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $203.00M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $-216.70M USD 1 Quarter
Purchases of property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $21.00M USD 1 Quarter
Purchases of property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $24.40M USD 1 Quarter
Purchase of businesses, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $52.50M USD 1 Quarter
Purchase of businesses, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired - USD 1 Quarter
Other investing, net PaymentsForProceedsFromOtherInvestingActivities - USD 1 Quarter
Other investing, net PaymentsForProceedsFromOtherInvestingActivities $-1.40M USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $-76.90M USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $-19.60M USD 1 Quarter
Net borrowings from (repayments made to) credit facility ProceedsFromRepaymentsOfLinesOfCredit $32.00M USD 1 Quarter
Net borrowings from (repayments made to) credit facility ProceedsFromRepaymentsOfLinesOfCredit $-100.00M USD 1 Quarter
Payments on other debt RepaymentsOfOtherLongTermDebt - USD 1 Quarter
Payments on other debt RepaymentsOfOtherLongTermDebt $100.00K USD 1 Quarter
Proceeds from exercise of stock options ProceedsFromStockOptionsExercised $10.20M USD 1 Quarter
Proceeds from exercise of stock options ProceedsFromStockOptionsExercised $12.70M USD 1 Quarter
Maturity of cross currency swap PaymentsForHedgeFinancingActivities - USD 1 Quarter
Maturity of cross currency swap PaymentsForHedgeFinancingActivities $13.50M USD 1 Quarter
Other financing, net ProceedsFromPaymentsForOtherFinancingActivities $-2.10M USD 1 Quarter
Other financing, net ProceedsFromPaymentsForOtherFinancingActivities - USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $-103.40M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $42.60M USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $4.40M USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.30M USD 1 Quarter
Change in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-190.40M USD 1 Quarter
Change in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $27.10M USD 1 Quarter
Cash and cash equivalentsbeginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $665.20M USD Point-in-time
Cash and cash equivalentsbeginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $284.30M USD Point-in-time
Cash and cash equivalentsbeginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $474.70M USD Point-in-time
Cash and cash equivalentsbeginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $638.10M USD Point-in-time
Cash and cash equivalentsend of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $665.20M USD Point-in-time
Cash and cash equivalentsend of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $284.30M USD Point-in-time
Cash and cash equivalentsend of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $474.70M USD Point-in-time
Cash and cash equivalentsend of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $638.10M USD Point-in-time
Stockholders Equity 18 line items
Line Item Tag Value Unit Period
Beginning balance StockholdersEquity $7.62B USD Point-in-time
Beginning balance StockholdersEquity $8.37B USD Point-in-time
Beginning balance StockholdersEquity $7.83B USD Point-in-time
Beginning balance StockholdersEquity $8.17B USD Point-in-time
Net income (loss) NetIncomeLoss $178.70M USD 1 Quarter
Net income (loss) NetIncomeLoss $212.60M USD 1 Quarter
Other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-300.00K USD 1 Quarter
Other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-21.90M USD 1 Quarter
Treasury stock issued StockIssuedDuringPeriodValueTreasuryStockReissued - USD 1 Quarter
Treasury stock issued StockIssuedDuringPeriodValueTreasuryStockReissued - USD 1 Quarter
Stock-based compensation StockGrantedDuringPeriodValueSharebasedCompensationGross $7.00M USD 1 Quarter
Stock-based compensation StockGrantedDuringPeriodValueSharebasedCompensationGross $7.90M USD 1 Quarter
Exercise of stock options StockIssuedDuringPeriodValueStockOptionsExercised $10.20M USD 1 Quarter
Exercise of stock options StockIssuedDuringPeriodValueStockOptionsExercised $12.70M USD 1 Quarter
Ending balance StockholdersEquity $7.62B USD Point-in-time
Ending balance StockholdersEquity $8.37B USD Point-in-time
Ending balance StockholdersEquity $7.83B USD Point-in-time
Ending balance StockholdersEquity $8.17B USD Point-in-time
Comprehensive Income 16 line items
Line Item Tag Value Unit Period
Net income (loss) including noncontrolling interest ProfitLoss $178.80M USD 1 Quarter
Net income (loss) including noncontrolling interest ProfitLoss $212.60M USD 1 Quarter
Foreign exchange translation adjustment OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent $-4.30M USD 1 Quarter
Foreign exchange translation adjustment OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent $-32.60M USD 1 Quarter
Hedge activity, net of tax OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax $2.50M USD 1 Quarter
Hedge activity, net of tax OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax $6.50M USD 1 Quarter
Pension and postretirement benefit adjustments, net of tax OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent $-1.50M USD 1 Quarter
Pension and postretirement benefit adjustments, net of tax OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent $-4.20M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-21.90M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-300.00K USD 1 Quarter
Comprehensive income (loss) including noncontrolling interest ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $178.50M USD 1 Quarter
Comprehensive income (loss) including noncontrolling interest ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $190.70M USD 1 Quarter
Comprehensive (income) loss attributable to noncontrolling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest - USD 1 Quarter
Comprehensive (income) loss attributable to noncontrolling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $100.00K USD 1 Quarter
Comprehensive income (loss) attributable to Teledyne ComprehensiveIncomeNetOfTax $190.70M USD 1 Quarter
Comprehensive income (loss) attributable to Teledyne ComprehensiveIncomeNetOfTax $178.40M USD 1 Quarter

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

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