TELEDYNETECHNOLOGIESEverywhereyoulookTM

2022 CORPORATESOCIAL RESPONSIBILIT YREPORT22022 CORPOR ATE SOCIAL RESPONSIBILIT Y REPORT | teledyne.com

TABLE OF CONTENTSA MESSAGE FROM OUR CHAIRMAN,PRESIDENT AND CHIEF EXECUTIVE OFFICER

4CORE VALUES7ENVIRONMENT AND SUSTAINABILITY

8

Our Carbon Footprint

9

GHG Emissions (Chart)

9

Energy (Chart)

9

Our Greenhouse Gas Emission Goal

10

Company-wide Efforts to Reduce Energy
Usage and Waste

11

FEATURE: Providing the Most Accurate
Climate Data

13

Our Assessment of Climate-related Risks

14

FEATURE: The James Webb Space Telescope

16

HEALTH AND SAFETY

18

Workplace Safety Goals

19

Injury and Illness Data

19

Disaster Recovery Risk Management

19

OUR PEOPLE

COMMUNITY AND HUMAN RIGHTS

24

Community Support/Volunteerism

25

Employee Engagement26

Conflict Minerals

27

Child Labor, Slavery & Human Trafficking

27

GOVERNANCE

28

Oversight

29

Board Effectiveness (Chart)

30

Alignment with Stockholder Interests (Chart)

30

Anti-Corruption Program

31

FEATURE: Teledyne FLIR Uses SkyRanger
UAV to Assist in Disaster Relief Efforts

31

Code of Conduct for Service Providers

32

Ethics Hotline

32

FEATURE: Teledyne Completes Deliveryof Flight Detectors to the Roman Space
Telescope

33

ABOUT THIS REPORT

34

20

Diversity and Inclusion

21

Equal Opportunity Commitment

21

Employee Well-Being

22

Talent Acquisition and Development

22

Board of Directors

22

Senior Management

22

Workplace Demographics

23(Cover) This landscape of “mountains” and “valleys” speckled with glittering stars is actually theedge of a nearby, young, star-forming region in the Carina Nebula. Captured in infrared light by
NASA’s new James Webb Space Telescope, this image reveals for the first time previously invisible
areas of star birth.
Webb’s seemingly three-dimensional picture is at the edge of the giant, gaseous cavity and the tallest“peaks” in this image are about 7 light-years high. — NASA Front cover (Cosmic Cliffs) credit: NASA, ESA, CSA, and STScI		3

A MESSAGE FROM OURCHAIRMAN, PRESIDENT AND
CHIEF EXECUTIVE OFFICER

42022 CORPOR ATE SOCIAL RESPONSIBILIT Y REPORT | teledyne.com

I

n February 2022, Teledyne issued its inaugural
Corporate Social Responsibility (CSR) Report. In
that report, we set a goal to reduce our Scope
1 and Scope 2 Greenhouse Gas (GHG) emissions
in company operations, normalized for revenue,by 40% from 2020 levels by the end of fiscal year
2040 — a goal which we refer to as “40 by 40.” I am
pleased to report that in just one year our 2021
Scope 1 and Scope 2 GHG emissions, divided bysales, decreased approximately 21% comparedwith 2020. This was largely due to our May 2021
acquisition of FLIR Systems, Inc., which has a lower
carbon footprint on a per revenue basis. However,
we also eliminated approximately 600,000 square
feet of manufacturing and office space reducing
our physical footprint and energy needs.

Our inaugural CSR report highlighted numerous
Teledyne products and technologies that contributeto the study of climate change and the monitoringof the health of our oceans, waterways, and atmosphere. I am proud of Teledyne’s efforts to create
products and provide services that make our world
a better place.
In fact, Teledyne is unique in providing specialty
environmental monitoring sensors and instrumentation utilized in all domains from deep sea to outerspace. Our autonomous underwater floats andvehicles measure ocean temperatures throughout
the entire water column – from the surface to theperpetually dark abyssal zone, while our ambient
air monitoring instruments provide data on theconcentration of chemicals and particulates in the
air we breathe.

		5(Below) Teledyne’s Sea Raptor, which measuresoceanographic data that helps scientists study
climate change. (Right) Teledyne is a world
leader in technology for air and water quality
analysis.

Measurement from space remains the most costeffective and comprehensive way to study greenhouse gas emissions and climate change. Teledyne’s
imaging sensors are used in multiple satellite
missions to monitor carbon dioxide and methane
across the globe. These include NASA’s Orbiting
Carbon Observatory-2, launched in 2014, the soonto-be launched Environmental Defense Fund
MethaneSat, and NASA’s Geostationary Carbon
Observatory (GeoCarb), expected to be launchedin 2024. This will be followed by the European
Space Agency’s (ESA) Copernicus Anthropogenic
Carbon Dioxide Monitoring (CO2M) mission in
2025. In addition to greenhouse gases, Teledyne’s
space-based sensors will also be used to study
plant health, sustainable agricultural and biodiversity
management, as well as soil property characterization on missions such as ESA’s Copernicus
Hyperspectral Imaging Mission (CHIME).
Of course, making the world a better place alsomeans expanding the frontiers of human knowledge.
The James Webb Space Telescope (JWST), thesuccessor to NASA’s Hubble space telescope, waslaunched on December 25, 2021, and the firstimages from JWST were released to the public in
July 2022.

62022 CORPOR ATE SOCIAL RESPONSIBILIT Y REPORT | teledyne.com

The John Morris Group in Australia is using
Teledyne ISCO LaserFlow flowmeters toassist a wastewater utility in recoveringvaluable water resources.
Photo courtesy of John Morris GroupTeledyne infrared detectors are used on three of thefour instruments and represent 95% of all imaging
pixels on the JWST. In its short operational existence,
the JWST has already made discoveries that arereshaping the field of astronomy.

NASA’s Nancy Grace Roman Space Telescope
will study galaxy growth spurts in the early
universe.

While the JWST is designed to view the deepest
and oldest parts of the universe, it does so with anarrow field of view. On the other hand, NASA’s
next astrophysics flagship mission, the Nancy Grace
Roman Space Telescope, has a very wide field ofview and will create enormous panoramas of theobservable universe using infrared and visible lightdetectors exclusively designed and built by Teledyne.

helps improve our health, the environment, andour understanding of the world.

Credit: NASA Goddard Space Flight Center / Scientific Visualization Studio

Kind Regards,

Robert Mehrabian
Chairman, President and Chief Executive Officer

We are again happy for the opportunity in this our
second CSR Report to showcase the ways TeledyneCore Values
Corporate responsibility is part of our overall culture.
Our four Core Values— Integrity, Respect, Responsibility, andCitizenship—guide the decisions we make as an organization.

		7

ENVIRONMENT ANDSUSTAINABILITY

Teledyne strives to maintain and operate our businesses in fullcompliance with applicable environmental laws, regulations, permits
and our Corporate Environmental Management System. Our full
Environmental Policy Statement can be found on our website.

82022 CORPOR ATE SOCIAL RESPONSIBILIT Y REPORT | teledyne.com

Our Carbon Footprint
To identify our carbon footprint, we engaged a third
party ESG consultant to assist us in the process ofcollecting, validating and aggregating data fromour global facilities, and conducting calculations tocreate an enterprise-wide greenhouse gas (“GHG”)
inventory of our direct emissions (“Scope 1”) andindirect emissions from purchased electricity(“Scope 2”).
We conducted our first GHG emission inventory
in 2021 for fiscal year 2020. The inventory conforms
to the World Resources Institute/World BusinessCouncil for Sustainable Development’s GHG
Protocol (the “GHG Protocol”), the most widelyused voluntary carbon accounting and reporting
framework for corporations.

As part of our carbon footprint analysis, wedeveloped a GHG monitoring/management plan,
which among other things addresses how we meetrequirements under our selected GHG Protocol
and ESG Framework, key roles and responsibilities,
data collection and quality assurance process,emissions calculations process, and managementof change.
Total Scope 1 and Scope 2 GHG emissions for2021 are set forth in the tables below. We havealso collected water usage across our operating
units and aggregated this data for 2021 in thetable below.

GHG EMISSIONS

2021

SASB
STANDARD

Gross Global Scope 1 Total Emissions

Scope 1 MT CO2e80,268TC-SC-110.a.1

Gross Global Scope 1 Total Emissions
from Perfluorinated Compounds

Scope 1 MT CO2efrom PFCs

56,103TC-SC-110.a.1

Gross Global Scope 2 Total Emissions

Scope 2 MT CO2e

58,061

Scope 1 & 2 MT CO2e

138,329

Gross Global Scope 1 and 2 Total
Emissions

GRI
STANDARD

305-1, 305-2

Emissions were calculated according to the methodology contained in The Greenhouse Gas Protocol:
A Corporate Accounting and Reporting Standard (GHG Protocol), Revised Edition, March 2004, publishedby the World Resources Institute and the World Business Council on Sustainable Development (WRI/WBCSD).

ENERGY

2021

SASB
STANDARD

Total Energy Consumed — Natural Gas

MMBTU

370,839

TC-SC-130.a.1

Total Energy Consumed — Diesel

Gallons

63,686TC-SC-130.a.1

Total Energy Consumed — Gasoline(Motor + Aviation)

Gallons

38,676TC-SC-130.a.1

Total Energy Consumed — Propane

Gallons

49,456TC-SC-130.a.1

Total Energy Consumed — Heat

MMBTU

11,739TC-SC-130.a.1

kWh265,260,276

TC-SC-130.a.1

Total Energy Consumed

GigaJoules

1,346,462

TC-SC-130.a.1

Percent Grid Electricity%

100

TC-SC-130.a.1

Percent Renewable Energy from Grid*

%

20-30

TC-SC-130.a.1

Total Energy Consumed — Electricity

Water Usage for 2021
(in thousands of gallons)

GRI
STANDARD

302-1

250,974*Estimated based on Electricity Supplier’s estimates of renewable energy delivered. Teledyne does nothave Power Purchase Agreements (PPAs) or Renewable Energy Certificates (RECs).

		
9Our Greenhouse Gas
Emission Goal
As a global company, we strive to improve thesustainability of our operations and reduce ourcarbon footprint. We acknowledge that we are in
the early stages of our sustainability journey.
We support the carbon dioxide and greenhousegas mitigation goals recognized by the 26th United
Nations Climate Change Conference of the Parties(COP26) Glasgow Climate Pact.

In February 2022, we set a goal to reduce our Scope
1 and Scope 2 emissions in company operations,normalized for revenue, by 40% from 2020 levelsby the end of fiscal year 2040, which we refer to
as 40 by 40. Going forward, we will continue toevaluate our emission reduction goals.
The chart below shows our progress toward our
40 by 40 target as of the end of fiscal year 2021.
For purposes of this chart and our goal, we prorated
the GHG emissions of businesses we acquired in
2021 to align with the revenue from such acquired
businesses that we report in our financial statements.

GHG Emissions
Normalized for Revenue
MT CO2e per $M Revenue

45
40

36.4

35
30
25

20.9%
Decrease

Scope 2
15.7

20
15
10
5
0

Scope 1
20.7

2020

28.8

Target 40%
reduction by 2040

Scope 2
11.9

21.8

Scope 1
16.9

Total

2021*

2040 Target*2021 emissions from businesses acquired prorated to reflect period following acquisition toalign with acquired revenue.

102022 CORPOR ATE SOCIAL RESPONSIBILIT Y REPORT | teledyne.com

The bar chart at the bottom of this page shows 2020
and 2021 GHG emissions unadjusted for revenue.
The orange portion of the bars show GHG emissions
from businesses acquired in 2021 for full fiscal years
2020 and 2021. (Note that the Teledyne emission
data (in blue) for 2020 differs slightly from previously
reported data as a result of updated information
received from six Teledyne facilities.)

Company-wide Efforts to Reduce
Energy Usage and Waste
Since 2016, Teledyne has implemented a companywide “Go Green” initiative focused on environmental
improvement. Projects include pollution prevention,
waste minimization, source reduction, energy use
conservation, and material recycling.
Teledyne has been managing energy usage throughvarious energy savings initiatives. To further enhancesavings, in 2019 we engaged an outside energy
auditor to review our worldwide operations. As ofthe date of this Report, the energy auditor has
performed assessments on several Teledyne facilities that are among the most significant sources ofenergy usage, with more facilities scheduled to beinspected in the future.
We are also taking internal steps to reduce ouroverall electricity and natural gas usage. For example,

we continue with efforts to replace fluorescentlamps with LED lighting systems, install electricalvehicle charging stations, replace aging heating
and air conditioning equipment, and add power
factor correction equipment or variable speed
drives to reduce electricity usage, where appropriate.
We continue to assess the use of solar panels,
renewable energy contracts, wastewater treatment,
air pollution control equipment and recycling
systems, as well as our solid waste management
programs. For example, Teledyne e2v agreed with
its energy provider that 100% of the electricity usedin its facility in Chelmsford, U.K. will be supplied
from renewable sources starting in October 2022.
Additionally, we will be evaluating the application,
capture efficiency and control of process gases,
which are used primarily in our semiconductor fabrication operations, and which comprise a majorityof our Scope 1 carbon dioxide equivalent emissions.
Teledyne is taking various actions to reduce GHG
emissions associated with employee commuting
and business travel. For example, certain Teledyne
facilities have implemented programs to reduce
mobile source emissions generated from employee
commutes, including ride share programs duringbusiness related and non-business-related travel,
public transportation subsidies, electric vehicle
charging stations and bicycle storage.

Total Emissions: 2020 Versus 2021
140,000
120,000

15,44413,011MT CO2e100,000
80,00060,000122,885

112,33140,00020,0000

2020

Teledyne

2021

2021 Acquisitions

		11

Teledyne strives to follow international guidelines
for the disposal of all waste set forth in Teledyne’s
Environmental Management System (EMS). This
includes looking for ways to reduce scrap, emphasize
re-use and recycling, and implement programs to
reduce non-usable production-related chemicals,
electronic waste, and both non-hazardous andhazardous waste. Local sites manage their own
solid waste programs, which are periodically subject
to audits by Teledyne’s Corporate Environmental,
Health and Safety Management Team.
The chart below provides information on waste
generation and recycling at Teledyne for 2021
(including businesses acquired in 2021).

2021 TELEDYNE WASTE GENERATION
AND RECYCLING
Total waste (tons)

14,655

Total % hazardous waste

6%

Total % non-hazardous waste

94%

Total % of waste recycled

45%

Total % of hazardous waste recycled

11%

The chart below shows 2020 and 2021 water usage,
normalized for revenue. For purposes of this chart,
we prorated water usage of businesses we acquiredin 2021 to align with the revenue from such acquired
businesses that we report in our financial statements.

Water Usage (in Gallons) per $M Revenue

Water Usage
Normalized for Revenue
80,00021.9%
Decrease

70,00060,00050,00040,00030,00067,52252,75920,00010,000
0

2020

2021*

*2021 water usage from businesses acquired prorated to reflect period following
acquisition to align with acquired revenue.

122022 CORPOR ATE SOCIAL RESPONSIBILIT Y REPORT | teledyne.com

FEATURE

Providing the Most Accurate
Climate Data
FLIR’s Optical Gas Imaging Benefits a
Low-Carbon Economy and Corporate
ESG Reporting
As countries increasingly transition to a low-carbon economy,
leaders in a variety of industries must effectively control greenhousegas and other potentially harmful gas emissions to remain competitiveand ensure the safety of an organization’s most valuable asset: its
people. While corporate may set emission reduction targets, thecritical details tied to detection and quantification of emissions arefound by the ‘boots on the ground’.
Teledyne FLIR’s Optical Gas Imaging (OGI) cameras excel at
discovering and identifying such details, which might otherwise beoverlooked using traditional methods. This technology empowers oil
and gas operators, utility companies, steel mills, and a wide variety
of industrial companies to more accurately detect fugitive emissions
and identify faulty components, while contributing to a facility’s
operational efficiency and improved worker safety.
Information about how our solutions help other industries meettheir ESG emissions goals can be found on our website.

Teledyne’s infrared imaging reveals an open
vent line in the oil and gas industry.

Flange leaks like this one become visible
with Teledyne’s OGI cameras.

		
13Our Assessment of
Climate-related Risks
We continue to evaluate short-, medium- andlong-term risks related to climate change. However,
it is not clear how the climate will change in the
future or what will be the response from regulatory
agencies or customers.
Some of our manufacturing facilities are locatedin regions that may be impacted by severe weather
events, like hurricanes or ice storms, or in areas
prone to wildfires, the frequency and severity ofwhich may increase as a result of climate change.
While our manufacturing facilities are required tomaintain disaster recovery and business continuity
plans, these events could result in potential damage
to our physical assets as well as disruptions in
manufacturing activities. Some of our manufacturing
facilities are in areas that may be at risk due to rising
sea levels. Moreover, some of our manufacturing
facilities are in areas that could experience decreased
access to water and reliable energy due to climate
issues. Severe weather and wildfire events may impair
the ability of our employees to work effectively.
Climate change, including the increasing frequency
and intensity of extreme weather events, its impact
on our supply chain and critical infrastructure
worldwide and its potential to increase politicalinstability in regions where we, our customers,
partners and our suppliers do business, may disrupt
our business and may cause us to experience higher
employee attrition and higher costs to maintain orresume operations. The effects of climate change
also may impact our decisions to construct new
facilities or maintain existing facilities in the areas
most prone to physical risks, which could similarly
increase our operating and material costs. We could
also face indirect financial risks passed throughthe supply chain that could result in higher prices
for our products and the resources needed to
produce them.
We sell products to customers directly engaged inoil and gas exploration and production. In 2021,
sales to such customers accounted for less than
5% of total sales. Changes to regulations, social
practices and preferences, energy generation andtransportation technologies that may occur or be
implemented to mitigate climate change could result
in reduced demand for hydrocarbon products, which

142022 CORPOR ATE SOCIAL RESPONSIBILIT Y REPORT | teledyne.com

could result in a reduction in sales to these customers.
Legislative and regulatory measures currently
under consideration or being implemented bygovernment authorities to address climate change
could require reductions in our greenhouse gas orother emissions, establish a carbon tax or increase
fuel or energy taxes. As described in this Report, wehave also voluntarily announced goals to reduce
our GHG emissions by a target date. These legal
requirements, in addition to emission reduction
efforts that we voluntarily undertake, are expected
to result in increased capital expenditures andcompliance costs and could result in higher costs
required to operate and maintain our facilities,
procure raw materials and energy, and may require
us to acquire emission credits or carbon offsets.
These costs and restrictions could harm our business and results of operations by increasing our
expenses or requiring us to alter our operations
and product design activities. The inconsistentinternational, regional and/or national requirements
associated with climate change regulations also
create economic and regulatory uncertainty.
Increased investor focus and activism related toclimate change and sustainability may hinder ouraccess to capital, as investors may reconsider
their capital investment as a result of their assessment of our sustainability practices. We may face
increasing pressure regarding our sustainability

Teledyne offers a variety of technologies
including infrared and acoustic imaging todetect invisible gas emissions.

disclosures and practices. Additionally, members of
the investment community may screen companies
such as ours for sustainability performance before
investing in our stock. If we are unable to meet thesustainability standards set by these investors, or if
we are unable meet GHG emission reduction targets
we communicate to the public, we may lose investors, our stock price may be negatively impacted,
and our reputation may be negatively affected.

		15

FEATURE

The James Webb Space Telescope
Changing Our Understanding of the Universe
and Our Place in It
The James Webb Space Telescope (JWST) is the world’s mostadvanced astronomical observatory and Teledyne supplied 15
infrared detectors for JWST’s instruments, representing 95% of
all the pixels on JWST. The performance of the telescope andinstrumentation has exceeded specifications and the imagery is
stunning and full of rich detail.
The fifteen short-wave and mid-wave infrared detectors suppliedby Teledyne are used in three of the four JWST instruments.
Teledyne also supplied the focal plane electronics that operate
the detectors. The deep field shown below gives a sense of thepower of JWST. Almost every object in this image is a galaxy, withthe few stars seen as points with diffraction spikes caused by theshape of the JWST mirror. This image is a very small part of thesky; the angular extent is approximately the size of a grain of sandheld at arm’s length.
In September 2022, NASA released its first image of the Tarantula
Nebula (right). 161,000 light-years away in the Large Magellanic
Cloud galaxy, the Tarantula Nebula is the largest and brightest
star-forming region in the Local Group of galaxies nearest our
Milky Way. This nebula is home to the hottest, most massive stars
known. Viewed with JWST’s Near-Infrared Camera (NIRCam), theregion resembles a burrowing tarantula’s home, lined with its silk.

Credit: NASA16

2022 CORPOR ATE SOCIAL RESPONSIBILIT Y REPORT | teledyne.com

Artist conception of the James
Webb Space Telescope Credit: NASA

(Below) Image of Galaxy Cluster
SMACS 0723 (whitish colors) that is
gravitationally lensing very distantgalaxies (reddish).
(Opposite) Tarantula NebulaCredit: NASA		17

HEALTH AND SAFETY
Teledyne strives to provide a safe and healthy work
environment for all employees and to continue to maintainand operate our businesses in full compliance with applicable
Health and Safety laws, regulations, permits and our
corporate Health and Safety Management System. Our full
Health and Safety Policy Statement can be found on
our website.

18

2022 CORPOR ATE SOCIAL RESPONSIBILIT Y REPORT | teledyne.com

Workplace Safety Goals
Ensuring the safety and health of our employees
is an integral part of Teledyne’s corporate culture.
Since 2019, Teledyne’s Annual Incentive Award Plan
has incorporated work-related injury and illness
rate reduction targets as a personal goal for selectsenior management.

Injury and Illness Data

Cases per 100 Full-time Employees

Cases per 100 Full-time Employees

The charts below show Teledyne’s incidence rates(rates per 100 full-time employees) of all workrelated injury and illness cases and work-related
injury or illness cases that result in days away fromwork for fiscal years 2019 through the third quarterof 2022 (excluding COVID-19 related cases). Datafor businesses acquired are reflected starting fromthe acquisition date.

Disaster Recovery Risk
Management
Teledyne requires all operations and corporate
functions to develop, implement, maintain, andtest a Disaster Recovery / Business Continuity Plan
(DRBCP). The purpose of the DRBCP is to define
the process a business or corporate function will
follow in the event of a natural or man-madedisaster to ensure the safe and timely return tonormal operation. Testing of the DRBCP is required
annually to allow Teledyne operations and corporate functions to identify gaps in their DRBCP and
if needed, update and improve the overall recovery
capabilities.

Work-Related Injuries & Illnesses
Total Case Incidence Rate
1.5
1.0

1.38
1.12

0.5
0.0

0.91
0.48

2019

2020

2021

2022
(through Q3)

Total Case Incidence Rate

Work-Related Injuries & Illnesses
Days Away from Work Case Incidence Rate
0.4
0.3
0.2

0.29

0.31

0.27

0.1
0.0

0.14
2019

2020

2021

2022
(through Q3)

Days Away from Work Case Incidence Rate		
19

OUR PEOPLE

202022 CORPOR ATE SOCIAL RESPONSIBILIT Y REPORT | teledyne.com

Diversity and Inclusion
We are committed to being transparent as webuild a more diverse and inclusive workplace, andwe actively monitor diversity metrics on a global
basis. This data is an important step in our diversity
journey.
In 2020, Teledyne formed a committee to oversee
its equality, diversity and inclusion efforts. Amongother things, we expanded our recruitment sources
to attract more diverse candidates. Our Teledyne
companies work with many outreach programs,
including the National Society of Black Engineers
and the Society of Women Engineers.

Equal Opportunity
Commitment
We regularly review our policies, processes, andpractices to ensure that they promote inclusivity
for all applicants and employees. We continue tofocus on several activities and initiatives to actively
increase diverse representation and progression
within our company. We advertise vacancies andstrive to recruit the best possible candidate forthe role.

		21

Employee Well-Being
The health and wellness of our employees is a
critical component to the success of our business.
Many of our larger facilities have on-site fitness
centers and encourage healthy choices with various wellness challenge programs. These programs
often include guest speakers on various topics,
including mental health, heart disease, diabetes,and personal financial awareness.
We also have robust vacation and sick leave policies
that provide employees with flexibility to take timeaway from work for relaxation or to recover from
illness. US-based employees have access to thirdparty counseling and mental health services at no
cost to the employee when life events impact anemployee.

Talent Acquisition andDevelopment
Teledyne appreciates the benefits of diversity andsupports programs increasing the inclusion ofunderrepresented and minority groups, including
the enablement of persons with disabilities andthe advancement of women in professional fields,
particularly in science, technology, engineering, andmath (STEM). We work with various organizations toincrease diversity in our pool of available candidates
to fill our STEM-based and other hard-to-fill positions.

222022 CORPOR ATE SOCIAL RESPONSIBILIT Y REPORT | teledyne.com

We also provide additional opportunities for our
existing employees to enhance their careers.
Teledyne invests in employee skills development invarious ways, including through educational expense
reimbursement. These reimbursements help
employees advance their education. Specialized
training in a job-related field gives employees new
skills and a strong foundation of knowledge thatcan serve them throughout their career and that
may allow them to progress to more responsible
positions at Teledyne.

Board of Directors
Our board consists of 11 directors. Of these, three
are female and two identify as having diverse
characteristics in terms of race, ethnicity, sexual
orientation, or cultural background.
Teledyne continues to support 50/50 Women on
Boards™, a global education and advocacy campaign
committed to advancing gender balance anddiversity on corporate boards.

Senior Management
Of the 15 executives whose profiles are listed on
Teledyne’s web page as of the date of this report,
four (or ~27%) are female. Two of the five (or 40%)
named executive officers in our most recent proxystatement are female.

Workplace Demographics
METRIC

2020

2021

2022

Global Employees

10,67014,52014,589% Employees in U.S.

59.5%

56.4%

56.1%

% Employees Outside U.S.

40.5%

43.6%

43.9%

% Americas

72.0%

68.9%

68.8%

% EMEA

25.6%

28.2%

28.3%

% ASIA-PAC

2.4%

2.9%

2.9%

% Female Employees

28.0%

29.7%

29.6%

% Female Senior Management

29.4%

31.3%

25.0%

White

60.2%

60.9%

63.9%

Asian

18.0%

18.1%

16.7%

Hispanic or Latino

14.5%

13.9%

13.0%

Black or African American

4.7%

4.4%

4.0%

Two or more races

1.9%

1.9%

1.6%

American Indian or Alaska Native

0.4%

0.4%

0.4%

Native Hawaiian/Other Pacific Islander

0.3%

0.4%

0.4%

EMPLOYEES*GENDER DIVERSITY*ETHNICITY (U.S. ONLY)*** Global employee and gender diversity data for 2020 is as of January 1, 2021, 2021 as of December 31, 2021, and 2022 as of
September 16, 2022. 2021 and 2022 global employee and gender data include employee information for FLIR, acquired in
May 2021.
** Ethnicity data is limited to US employees and is based on US Equal Employment Opportunity Commission reporting(via an EEO-1 form), with 2020 EEO-1 reporting based on October 2019 data, 2021 EEO-1 reporting based on October 2020
data and 2022 EEO-1 reporting based on October 2021 data. The ethnicity categories are as prescribed by the EEO-1 form.
These categories do not reflect how our industry or workforce is specifically organized. Data from Teledyne FLIR, which
was acquired in May 2021, is included in the ethnicity data for 2022, but not for 2020 or 2021.

		
23

COMMUNITY AND
HUMAN RIGHTS

24

2022 CORPOR ATE SOCIAL RESPONSIBILIT Y REPORT | teledyne.com

Community Support/
Volunteerism
Our employees are avid promoters of sustainability
and community service, both in the office and intheir personal lives. We believe in sharing our time,
talent, and knowledge by being good stewards ofthe communities in which we do business. Ourcollective passion is driven and facilitated by our
corporate culture to not only do the right thing, but
to develop products and services that enable others
to support the world’s collective need to protect
the human, social, economic, and environmental
pillars of sustainability.

Earth Day planting.

Our businesses continuously engage in employersponsored community volunteer programs suchas Beach Day Clean-Up, Earth Day, and World
Humanitarian Day, as well as supporting local
charity events.

Teledyne Marine, Daytona Beach 40 by 40
entrance/flags.

		25

Employee Engagement
Several of our businesses sponsor local Science,
Technology, Engineering, and Mathematics(STEM) events, such as those supporting space
exploration — a field in which Teledyne has been
making important contributions for over 60 years
in the areas of astronomy, planetary exploration,manned spaceflight, Earth observations, andsatellite communications.

Teledyne employees and family came together
on a beautiful spring day to clean up our coast
in Ventura, California. We are proud to report a
total of 46 pounds of trash was removed fromthe promenade and beach.

26

2022 CORPOR ATE SOCIAL RESPONSIBILIT Y REPORT | teledyne.com

Fostering employee engagement provides a sharedpurpose to make a difference in the lives of those
who aspire to see beyond the known.

Conflict Minerals
Teledyne is committed to responsible sourcing
from its suppliers and expects its suppliers to havepolicies and procedures in place to determine
whether parts and products supplied to Teledyne
are conflict-free (i.e., do not contain metals derived
from “conflict minerals”).
Conflict minerals are columbite-tantalite (tantalum),cassiterite (tin), gold, wolframite (tungsten), or theirderivatives that directly or indirectly finance or
benefit armed groups through mining or mineral
trading in the Democratic Republic of the Congo oran adjoining country. Teledyne expects its suppliers
to establish policies, due diligence frameworks andmanagement systems consistent with the OECD
Due Diligence Guidance for Responsible Supply
Chains of Minerals from Conflict-Affected andHigh-Risk Areas that are designed to accomplish
this goal. Teledyne’s Conflict Minerals team, composed of individuals from our strategic sourcing
and corporate departments, governs our compliance with the SEC’s Conflict Minerals reporting
requirements. For more information on our conflictminerals due diligence process, see our Conflict
Minerals Report located on our website. For ourcalendar year 2021 Conflict Minerals Report, aspart of our conflict minerals due diligence, wesurveyed a total of 3,553 suppliers. As part of ourprogram, we participate in outreach initiatives toencourage nonconformant smelters to be independently audited by the Responsible Minerals
Assurance Process.

Child Labor, Slavery & Human
Trafficking
Teledyne supports efforts to eliminate humantrafficking and slavery and requires the same commitment of its suppliers. Teledyne is committed toobtaining supplies and services from companies
that conduct their businesses in a lawful and ethicalmanner. Teledyne’s expectations for suppliers andother service providers are set forth in the Company’s
Ethics Code of Conduct for Service Providers.
Among other things, this includes an expectationthat Teledyne suppliers and service providers do
not engage in or facilitate any form of child labor,
slavery or human trafficking. Contractual agreements
provide for termination for noncompliance withlaws and standards of conduct. Employees, agents,
sub- contractors, and recruiters have key roles inpreventing human trafficking and related activities.
In Teledyne’s Global Code of Ethical BusinessConduct, Teledyne employees are encouraged tobring any concerns or suspicions relating to slavery
or human trafficking to the attention of Teledyne’s
Chief Compliance Officer, local ethics personnel
or management. Teledyne periodically trains its
employees on identifying slavery and human trafficking issues and mitigating such risks, including
within its supply chain of products. Teledyne’s
Disclosure under the California Transparency inSupply Chains Act of 2010 and United Kingdom
Modern Slavery Act of 2015 and Combating
Trafficking in Persons Compliance Plan has further
detail on Teledyne’s anti-human trafficking program.
More details can also be found in Teledyne’s Human
Rights Policy.

		27

GOVERNANCE

28

2022 CORPOR ATE SOCIAL RESPONSIBILIT Y REPORT | teledyne.com

W

e are committed to good corporate governance, which promotes the long-term
interests of stockholders, strengthens
Board and management accountability and helps
build public trust in Teledyne.

Oversight
Pursuant to the mandate in their respective charters,
the Audit Committee of our Board regularly reviews
matters related to compliance with environmental
laws and the health and safety of employees, andthe Nominating and Governance Committee of our
Board reviews and evaluates our policies and practices and monitors our efforts in areas of legal andsocial responsibility, diversity and sustainability.
Teledyne has adopted an Environmental
Management System (EMS) and a Health and Safety
Management System (HSMS). The objective of our
EMS and HSMS is to provide a safe and healthy
working environment, help ensure regulatorycompliance and protect the environment. Both theTeledyne EMS and HSMS are compatible with analogous management system standards ISO 14001
and ISO 45001 and many of Teledyne’s businesses
have EMS and HSMS programs certified to thesestandards.
According to our EMS and HSMS, responsibility forenvironmental, health and safety compliance starts
with our Chairman, President and Chief Executive
Officer and flows down ultimately to each
employee and service provider. The corporate
Environmental, Health and Safety function, which isunder the oversight of Teledyne’s General Counsel
office, reviews and audits our facilities for compliance with our policies and applicable laws andregulations on a regular and consistent basis. As
part of our internal control framework, we require
annual written certifications from senior managers
with respect to environmental, health and safetycompliance. Compliance with environmental,
health and safety laws is part of employee annual
performance and bonus evaluations. Disciplinary
action (including termination of employment) for
violation of environmental, health and safety laws,
regulations and procedures is part of our responsibility and accountability framework.

		29

BOARD EFFECTIVENESS
Board Evaluation
and Assessments• Annual Board and Board committee self-evaluation process.
• Annual Board assessment of corporate governance best practices.

Stockholder Accessto Directors• Stockholders may contact our Board as a whole, individual directors (including
the lead independent director), or management by mail, through the company’s
Corporate Secretary.

Board Oversightof Risk• The entire Board is responsible for risk oversight and the Board committees
oversee certain key risks.
• The Board oversees management in its assessment and mitigation of risks, and intaking appropriate risks.

Succession
Planning• The Board actively monitors our management succession and development plans.
• At least annually, the Personnel and Compensation Committee, together with
the Chairman, President and Chief Executive Officer, will report to the Board on
succession planning, including plans for interim succession for the Chief Executive
Officer in the event of an unexpected occurrence.

Diversity andInclusion Initiatives• Management regularly updates the Nominating and Governance Committee onsocial responsibility and diversity matters.
• We have made progress in our efforts to promote diversity and inclusion. Today,
more than one-fourth of our executive management team, as well as our Board of
Directors, are women.
• We have an Equality, Diversity and Inclusion Committee led by Teledyne’s SeniorVice President, General Counsel, Chief Compliance Officer and Secretary.

ALIGNMENT WITH STOCKHOLDER INTERESTS

30

Clawback andAnti-Hedging andPledging Policies• We have a formal policy related to the “clawback” of incentive compensation in
the event of a material financial misstatement or in the event of fraud or criminal
misconduct.
• Our insider trading policy prohibits short sales of our stock, buying or selling put
or call options on our stock, holding our stock in a margin account or pledging
our stock as collateral for a loan, or entering into hedging or monetizationtransactions with respect to our stock, in each case without prior advance approval
from our Senior Vice President, General Counsel, Chief Compliance Officer andSecretary.

Stock Ownership

Robust stock ownership guidelines:• The Chairman, President, and Chief Executive Officer must retain equity equal invalue to five times his base salary.
• Each of the other named executive officers must retain equity equal in value tothree times their base salaries.
• Each of our directors must retain equity equal in value to five times the annual
director retainer.

Corporate
Responsibility• We are committed to acting as a good corporate citizen and operating sustainably.
• Our Global Code of Ethical Business Conduct and other policies and information
related to corporate social responsibility can be found at www.teledyne.com
under “Who We Are” — “Corporate Governance.”

2022 CORPOR ATE SOCIAL RESPONSIBILIT Y REPORT | teledyne.com

Teledyne’s senior management reports onenvironmental, health and safety compliance andperformance to our Audit Committee on aquarterly basis.
Oversight of social responsibility, diversity andsustainability, including climate-related initiatives
and risks, are managed internally at Teledyne byrepresentatives from our Legal, Environmental,
Health and Safety, Human Resources, Risk Management and Investor Relations functions. Senior
management reports at least annually to our
Nominating and Governance Committee on thesematters.

FEATURE

Teledyne FLIR uses
SkyRanger UAV to Assist
in Disaster Relief Efforts

Teledyne FLIR has been supporting UAV disaster
relief efforts for years. On September 2, 2021,
Teledyne FLIR deployed a SkyRanger R70 UAV with
GlobalMedic, a Toronto based disaster relief
non-profit organization, to help map the island ofSaint Vincent after the April 2021 volcanic eruptionof La Soufrière.

Anti-Corruption Program
Teledyne maintains an anti-corruption programwith core elements of an effective compliance program, including tone at the top, risk assessment,
written policies and procedures, effective training
and education, effective lines of communication,internal monitoring and auditing, and enforcement.
The program and its requirements apply toTeledyne employees and to third parties who act
on Teledyne’s behalf. Additional information on
Teledyne’s anti-corruption program can be foundin Teledyne’s anti-bribery statement from executive
management and Anti-Bribery Guidance for
Teledyne third parties.

Equipped with the SkyRanger R70, FLIR and the
GlobalMedic RescUAV team worked with Saint
Vincent’s Minister of Agriculture to map large areasof agricultural land and critical infrastructure aroundthe island. The SkyRanger R70 captured data flying
at 400 feet above ground level with 75 percent
front and side overlap at speeds up to 50 kilometers
per hour. The resolution provided enough detailfor analysts to see what crops are planted on each
farm, and where farmers can mobilize the island’s
limited heavy farming equipment to recover fields
covered by volcanic ash. The information gatheredby our UAV technology is helping to expedite St.
Vincent’s economic recovery and lay the groundwork for a stronger and more robust economy.

Andrew Huang, a Senior Manager of Software& Systems Test Engineering, Teledyne FLIR –Unmanned Integrated Solutions.

		31

Code of Conduct for Service
Providers
Teledyne requires all third parties that act on
its behalf, including suppliers, consultants, andthird-party sales channels, to agree contractually
to abide by its Code of Conduct for Service Providers. The Code requires strict compliance withall applicable laws and regulations and contractual
requirements. It prohibits any form of corruption
in any jurisdiction, whether carried out directly or
indirectly. It similarly prohibits any involvement inor facilitation of tax evasion. It prohibits discrimination and harassment and requires third parties
to heed local employment regulations, such as
minimum working age, minimum wage, maximum
working hours, overtime, and benefits. It specifically prohibits any involvement in or facilitationof any forced or involuntary labor or child laboror slavery or human trafficking. It requires service
providers to maintain safe workplaces that are
free from illegal drugs. Service providers also must
maintain their businesses in an environmentally
responsible manner and prudently use natural
resources and prevent harm to the environment.

32

2022 CORPOR ATE SOCIAL RESPONSIBILIT Y REPORT | teledyne.com

Other topics covered include avoidance of conflictsof interest, the need to comply with international
trade laws, avoidance of conflict minerals, avoidance of counterfeit parts, the need to comply withaccounting rules, protection of intellectual property, the importance of reporting only accurate
technical information, avoidance of insider trading
and avoidance of anticompetitive behavior.
Service providers are also required to educate theiremployees on these requirements and to ensurethat their suppliers comply with these requirements as well.

Ethics Hotline
Any employee or third-party doing business foror with Teledyne may report any ethical concern
or suspected misconduct online at:www.teledyne.ethicspoint.com or call the Ethics
Hotline at (877) 666-6968.

FEATURE

Teledyne Completes Deliveryof Flight Detectors to the Roman
Space Telescope
The Nancy Grace Roman Space Telescope is NASA’s next flagship
Astronomy and Astrophysics space observatory, following the Hubble
and James Webb Space Telescopes. Launch of Roman is plannedfor 2027. Whereas Hubble Space Telescope and James Webb Space
Teledyne focus on small regions of the universe with narrow fieldof view instruments, the Roman Space Telescope has a wide field ofview, 100 times the field of view of Hubble. Roman’s wide field of view,combined with the light gathering power of a 2.4-meter primary
mirror, will settle essential questions in the areas of dark energy,
exoplanets, and infrared astrophysics. Roman will survey billions ofgalaxies and study thousands of exoplanets.
Roman’s wide field of view required a new generation of infrared
detector developed by Teledyne Imaging Sensors. The infrared sensor
chip assembly developed for Roman is 4,096 by 4,096 pixels, eachpixel is 10 by 10 microns in size (for comparison, a human hair isabout 100 microns wide). Eighteen (18) sensor chip assemblies arein the focal plane mosaic of Roman, totaling over 300 million pixels.
This is by far the largest infrared focal plane ever made, for space orground-based facilities.

The 16.7 million pixel sensor
chip assembly is shown at
top. The Engineering Test Unit
Focal Plane Mosaic with 18
sensor chip assemblies, shownat bottom, was assembled by
Goddard Spaceflight Center.
This is the largest infrared
focal plane mosaic ever made.

In addition to the infrared arrays, Teledyne is producing the visible
light detectors that will be used in the coronagraph instrument of
the Roman Space Telescope. Teledyne is proud to be a part of thishistoric and potentially astonishing mission.

Credit: NASA / Goddard Space Flight Center

Credits: NASA / Goddard Space Flight Center

		
33

ABOUT THIS REPORT

F

orward-Looking Information: This report contains forward-looking statements, as defined in
the Private Securities Litigation Reform Act of
1995, with respect to management’s beliefs about
the financial condition, results of operations andbusinesses of Teledyne in the future. Forward-looking
statements involve risks and uncertainties, are basedon the current expectations of the management ofTeledyne and are subject to uncertainty and changes
in circumstances.
The forward-looking statements contained herein
may include statements and goals relating greenhouse gas reduction targets, energy, waste andwater use reduction efforts, recycling and conservation efforts, estimated cost savings, anticipatedcapital expenditures and product developments,and other strategic options. Forward-looking
statements generally are accompanied by words
such as “projects”, “intends”, “expects”, “anticipates”,“targets”, “estimates”, “will” and words of similar
import that convey the uncertainty of future eventsor outcomes. All statements made in this communication that are not historical in nature should beconsidered forward-looking. By its nature, forwardlooking information is not a guarantee of future
performance or results and involves risks and uncertainties because it relates to events and depends
on circumstances that will occur in the future.
Actual results could differ materially from theseforward-looking statements. Many factors couldchange anticipated results, including ongoingchallenges and uncertainties posed by the COVID
pandemic for businesses and governments aroundthe world, including production, supply, contractualand other disruptions; our ability to achieve greenhouse gas emission reduction targets; our ability
to increase the percentage of electricity we usefrom renewable sources; our acquisition strategy,
including the carbon footprint of businesses we
may acquire in the future; changes in demand for
products sold to the defense electronics, instrumentation, digital imaging, energy exploration andproduction, commercial aviation, semiconductor
and communications markets; funding, continuation and award of government programs; cuts to34

2022 CORPOR ATE SOCIAL RESPONSIBILIT Y REPORT | teledyne.com

defense spending resulting from existing and future
deficit reduction measures or changes to U.S. andforeign government spending and budget priorities
triggered by the COVID pandemic; uncertainties
related to the policies of the U.S. Presidential
Administration; the impact of higher inflation;
semiconductor and other supply chain shortages;
and new regulations or restrictions relating toenergy exploration and production.
Additional factors that could cause results to differ
materially from those described above can befound in Teledyne’s Annual Report, on Form 10-K
for the years ended January 3, 2021, and January 2,
2022, and subsequent Quarterly Reports on Form
10-Q and Current Reports on Form 8-K, all ofwhich are on file with the SEC and available in the“Investors” section of Teledyne’s website, teledyne.
com, under the heading “Investor Information” andin other documents Teledyne files with the SEC.
All forward-looking statements speak only as ofthe date they are made and are based on information available at that time. Teledyne assumes noobligation to update forward-looking statements
to reflect circumstances or events that occur after
the date the forward-looking statements weremade or to reflect the occurrence of unanticipated
events except as required by federal securities laws.
As forward-looking statements involve significant
risks and uncertainties, caution should be exercised
against placing undue reliance on such statements.

This report is dated as of November 9, 2022, andunless otherwise noted, the information in thisreport is as of November 9, 2022.
Please note that the inclusion of information in thisReport is not an indication that such information isnecessarily material as defined under the U.S. federal
securities laws and the applicable regulations
thereunder.
All financial information in this report is limited tocontinuing operations and is reported in U.S. dollars.
Uncertainties are inherent in collecting data froma wide range of facilities and operations in a global
company such as Teledyne. The data included inthis report are good faith-estimates and have notbeen externally audited.

		
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1049 Camino Dos Rios, Thousand Oaks, California 91360 USA
Telephone: (805) 373-4545

www.teledyne.com
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