Company: TDY
Filing Date: 2025-10-24
Form Type: 10-Q
Source: 0001094285-25-000140
Chunk: 98

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-10-24
Form: 10-Q
Item: Part I, Item 8
Chunk 98
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edges have maturities ranging from October 2025 to February 2026.  As of September 28, 2025, foreign currency forward contracts in British pounds designated as cash flow hedges have maturities ranging from October 2025 to February 2026.

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The Company utilizes cross-currency swaps to hedge portions of the Company’s euro denominated net investments against the effect of exchange rate fluctuations on the translation of foreign currency balances to the U.S. dollar.  In the first nine months of 2025, the Company entered cross-currency swaps designated as net investment hedges with a total notional amount of €450.0 million to hedge portions of the Company’s euro denominated net investments against the effect of exchange rate fluctuations on the translation of foreign currency balances to the U.S. dollar.  These cross-currency swaps mature between September 2026 and September 2030.The Company converted a U.S. dollar denominated, variable rate debt obligation of a European subsidiary into a euro fixed rate obligation using a receive float, pay fixed cross-currency swap to reduce the variability of interest rates.  This cross-currency swap matured in October 2024.Non-Designated Hedging ActivitiesThe Company utilizes foreign currency forward contracts to mitigate foreign exchange rate risk associated with foreign currency denominated monetary assets and liabilities, including intercompany receivables and payables.  These foreign currency forward contracts are not designated as accounting hedges.  The gain or loss resulting from a change in fair value of a derivative instrument that is not designated an accounting hedge is recognized immediately in earnings and intended to, at a minimum, partially offset the transaction gains and losses recognized in earnings.Derivative InstrumentsThe following is a summary of the gain (loss) included in the condensed consolidated statements of income (loss) and comprehensive income (loss) related to the derivative instruments described above (in millions): Third QuarterNine Months 2025202420252024Net gain (loss) recognized in AOCI—Foreign Exchange Contracts (a)$(1.2)$(4.5)$3.1 $(3.6)Net gain (loss) recognized in AOCI—Cross-Currency Swap Contracts (a)$2.7 $— $(34.8)$— Net gain (loss) reclassified from AOCI into revenue/cost of sales—Foreign Exchange Contracts (a)$0.6 $(0.1)$(0.2)$0.9 Net