(b) The fourth quarter and full year of 2024 includes income tax benefits from FLIR acquisition-related tax matters of $16.6 million and $77.8 million, respectively. The fourth quarter and full year of 2023 includes income tax benefits from FLIR acquisition-related tax matters of $102.2 million and $100.5 million, respectively.
This condensed consolidated financial statements were prepared in accordance with GAAP.
TELEDYNE TECHNOLOGIES INCORPORATED SUMMARY OF SEGMENT NET SALES AND OPERATING INCOME FOR THE FOURTH QUARTER AND YEAR ENDED DECEMBER 29, 2024 AND DECEMBER 31, 2023 (Unaudited - $ in millions) |
|||||||||||||||||||||
|
Fourth Quarter |
|
Fourth Quarter |
|
% Change |
|
Total Year |
|
Total Year |
|
% Change |
||||||||||
|
|
2024 |
|
|
|
2023 |
|
|
|
|
2024 |
|
|
|
2023 |
|
|
||||
Net sales: |
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Digital Imaging |
$ |
822.2 |
|
|
$ |
802.5 |
|
|
2.5 |
% |
|
$ |
3,070.8 |
|
|
$ |
3,144.1 |
|
|
(2.3 |
)% |
Instrumentation |
|
368.9 |
|
|
|
335.2 |
|
|
10.1 |
% |
|
|
1,382.6 |
|
|
|
1,326.2 |
|
|
4.3 |
% |
| Aerospace and Defense Electronics |
|
196.5 |
|
|
|
184.0 |
|
|
6.8 |
% |
|
|
776.8 |
|
|
|
726.5 |
|
|
6.9 |
% |
| Engineered Systems |
|
114.7 |
|
|
|
103.3 |
|
|
11.0 |
% |
|
|
439.8 |
|
|
|
438.7 |
|
|
0.3 |
% |
| Total net sales |
$ |
1,502.3 |
|
|
$ |
1,425.0 |
|
|
5.4 |
% |
|
$ |
5,670.0 |
|
|
$ |
5,635.5 |
|
|
0.6 |
% |
| Operating income (loss): |
|
|
|
|
|
|
|
|
|
|
|
||||||||||
| Digital Imaging (a) |
$ |
90.8 |
|
|
$ |
134.3 |
|
|
(32.4 |
)% |
|
$ |
442.0 |
|
|
$ |
517.4 |
|
|
(14.6 |
)% |
| Instrumentation (a) |
|
100.8 |
|
|
|
90.7 |
|
|
11.1 |
% |
|
|
370.3 |
|
|
|
338.3 |
|
|
9.5 |
% |
| Aerospace and Defense Electronics |
|
56.4 |
|
|
|
50.0 |
|
|
12.8 |
% |
|
|
221.7 |
|
|
|
199.6 |
|
|
11.1 |
% |
| Engineered Systems |
|
9.8 |
|
|
|
12.3 |
|
|
(20.3 |
)% |
|
|
32.9 |
|
|
|
44.7 |
|
|
(26.4 |
)% |
| Corporate expense |
|
(20.7 |
) |
|
|
(15.8 |
) |
|
31.0 |
% |
|
|
(77.8 |
) |
|
|
(65.6 |
) |
|
18.6 |
% |
| Operating income (loss) |
|
237.1 |
|
|
|
271.5 |
|
|
(12.7 |
)% |
|
|
989.1 |
|
|
|
1,034.4 |
|
|
(4.4 |
)% |
| Interest and debt income (expense), net |
|
(13.7 |
) |
|
|
(15.6 |
) |
|
(12.2 |
)% |
|
|
(57.9 |
) |
|
|
(77.3 |
) |
|
(25.1 |
)% |
| Gain (loss) on debt extinguishment |
|
— |
|
|
|
— |
|
|
— |
% |
|
|
— |
|
|
|
1.6 |
|
|
(100.0 |
)% |
| Non-service retirement benefit income (expense), net |
|
2.6 |
|
|
|
3.1 |
|
|
(16.1 |
)% |
|
|
10.8 |
|
|
|
12.4 |
|
|
(12.9 |
)% |
| Other income (expense), net |
|
(0.4 |
) |
|
|
(4.8 |
) |
|
(91.7 |
)% |
|
|
(4.1 |
) |
|
|
(12.2 |
) |
|
(66.4 |
)% |
| Income (loss) before income taxes |
|
225.6 |
|
|
|
254.2 |
|
|
(11.3 |
)% |
|
|
937.9 |
|
|
|
958.9 |
|
|
(2.2 |
)% |
| Provision (benefit) for income taxes (b) |
|
26.5 |
|
|
|
(69.3 |
) |
|
(138.2 |
)% |
|
|
117.2 |
|
|
|
72.3 |
|
|
62.1 |
% |
| Net income (loss) including noncontrolling interest |
|
199.1 |
|
|
|
323.5 |
|
|
(38.5 |
)% |
|
|
820.7 |
|
|
|
886.6 |
|
|
(7.4 |
)% |
| Less: Net income (loss) attributable to noncontrolling interest |
|
0.6 |
|
|
|
0.4 |
|
|
50.0 |
% |
|
|
1.5 |
|
|
|
0.9 |
|
|
66.7 |
% |
| Net income (loss) attributable to Teledyne |
$ |
198.5 |
|
|
$ |
323.1 |
|
|
(38.6 |
)% |
|
$ |
819.2 |
|
|
$ |
885.7 |
|
|
(7.5 |
)% |
