Company: TDY
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001094285-25-000053
Chunk: 211

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 211
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 recognized revenue of $152.4 million during the year ended December 29, 2024 from contract liabilities that existed at the beginning of year.

Note 6. Goodwill and Acquired Intangible Assets

Goodwill (in millions):Digital Imaging InstrumentationAerospace and Defense ElectronicsEngineered SystemsTotalBalance at January 1, 2023$6,780.4 $913.2 $161.8 $17.6 $7,873.0 Current year acquisitions55.5 21.1 — — 76.6 Foreign currency changes and other41.1 10.5 1.6 — 53.2 Balance at December 31, 20236,877.0 944.8 163.4 17.6 8,002.8 Current year acquisitions64.6 23.6 — — 88.2 Foreign currency changes and other(87.0)(13.1)(0.4)— (100.5)Balance at December 29, 2024$6,854.6 $955.3 $163.0 $17.6 $7,990.5 In the fourth quarter of 2024, the Company performed a quantitative impairment test for the FLIR reporting unit and qualitative impairment tests for all other reporting units.  The results of our annual impairment tests of goodwill indicated that no impairment existed in 2024, 2023 or 2022. 2024 2023Acquired intangible assets (in millions):Gross carrying amountAccumulated amortizationNet carrying amountGross carrying amountAccumulated amortizationNet carrying amountProprietary technology$1,665.5 $796.6 $868.9 $1,696.6 $663.0 $1,033.6 Customer list/relationships599.3 252.9 346.4 609.5 219.4 390.1 Patents0.6 0.6 — 0.6 0.6 — Non-compete agreements0.9 0.9 — 0.9 0.9 — Definite-lived trademarks12.2 7.7 4.5 10.2 5.8 4.4 Backlog16.0 16.0 — 16