Company: TDY
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001094285-25-000053
Chunk: 120

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 15
Chunk 120
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 2024, the Company acquired Micropac Industries, Inc. (“Micropac”) for approximately $57.6 million in cash, net of cash acquired, and subject to certain adjustments.  Micropac, founded in 1963 and headquartered in Garland, Texas designs and manufactures microelectronic circuits, optoelectronic components, and sensor and display assemblies, primarily for military, aerospace, and medical applications.  Micropac will be part of the Aerospace & Defense Electronics segment.  The Company funded the acquisition from cash on hand.Qioptiq and Advanced Electronics Systems businessesOn February 3, 2025, the Company acquired select aerospace and defense electronics businesses of Excelitas Technologies Corp. for approximately $700.3 million in cash, net of cash acquired, and subject to certain adjustments.  The acquisition includes the Optical Systems (“OS”) business known under the Qioptiq® brand based in Northern Wales, UK, as well as the United States based Advanced Electronic Systems (“AES”) business.  The OS and AES businesses will be part of the Aerospace and Defense Electronics segment.  The Company funded the acquisition from available borrowings on the credit facility as well as cash on hand.

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Schedule II VALUATION AND QUALIFYING ACCOUNTS

Schedule II

VALUATION AND QUALIFYING ACCOUNTSFor the Fiscal Years Ended December 29, 2024, December 31, 2023 and January 1, 2023(in millions)  Additions DescriptionBalance at beginning of period Charged to costs and expenses Acquisitions Deductions and other (a) Balance at end of periodFiscal Year 2024     Allowance for doubtful accounts$11.5 6.4 — (2.4)$15.5 Environmental reserves$5.4 1.6 — (0.5)$6.5 Fiscal Year 2023     Allowance for doubtful accounts$11.7 0.7 — (0.9)$11.5 Environmental reserves$5.8 — — (0.4)$5.4 Fiscal Year 2022     Allowance for doubtful accounts$13.8 1.6 — (3.7)$11.7 Environmental reserves$6.3 0.2 — (0