Company: TDY
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001094285-25-000053
Chunk: 107

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 15
Chunk 107
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-backed securities45.6 High yield bonds35.5 Fair value of net plan assets at the end of the year$285.9 (a)  There were no transfers of plan assets between the three levels of the fair value hierarchy during the year.(b)  Reflects cash and cash equivalents held in overnight cash investments. (c)  The mutual funds are invested in equity securities.The fair values of the Company’s net pension assets, by fair value hierarchy, for both the U.S. and foreign pension plans as of December 31, 2023, by asset category are as follows (in millions):Asset category: (a)Level 1Level 2Level 3TotalCash and cash equivalents (b)$— $20.1 $— $20.1 Equity securities3.5 209.0 — 212.5 U.S. Government securities and futures231.4 11.4 — 242.8 Corporate bonds— 22.5 — 22.5 Insurance contracts related to foreign plans— 13.1 — 13.1 Fair value of net plan assets at the end of the year$234.9 $276.1 $— $511.0 Investments measured at net asset value:Alternatives$189.3 Mutual funds (c)4.8 Mortgage-backed securities60.3 High yield bonds13.6 Fair value of net plan assets at the end of the year$268.0 (a)  There were no transfers of plan assets between the three levels of the fair value hierarchy during the year.(b)  Reflects cash and cash equivalents held in overnight cash investments. (c)  The mutual funds are invested in equity securities.U.S. equities are valued at the closing price reported in an active market on which the individual securities are traded.  U.S. equities and non-U.S. equities are also valued at the net asset value provided by the independent administrator or custodian of the commingled fund.  The net asset value is based on the value of the underlying equities, which are traded on an active market.  Corporate bonds are valued using inputs such as the closing price reported, if traded on an active market, values derived from comparable securities of issuers with similar credit ratings, or under a discounted cash flow approach that utilizes observable inputs, such as current yields of similar instruments.