Company: TDY
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001094285-25-000053
Chunk: 74

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 15
Chunk 74
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 test.  A quantitative impairment test, if applicable, is used to identify potential goodwill impairment and then measure the amount of goodwill impairment loss, if any.  The Company performs quantitative tests for reporting units at least once every three years.  However, for certain reporting units the Company may perform a quantitative impairment test more frequently.  The Company performed a quantitative impairment test for FLIR and qualitative impairment tests for all other reporting units in 2024.

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The Company reviews intangible and other long-lived assets subject to depreciation or amortization for impairment whenever events or circumstances indicate that the carrying value of the asset may not be recoverable.  Acquired intangible assets with finite lives are amortized and reflected in the segment’s operating income over their estimated useful lives.  The Company assesses the recoverability of the carrying value of assets held for use based on a review of projected undiscounted cash flows.  Impairment losses, where identified, are determined as the excess of the carrying value over the estimated fair value of the long-lived asset, and reflected in selling, general and administrative expense or impairment of acquired intangible assets at the respective business segment.Pension and Postretirement CostsThe Company’s accounting for its defined benefit pension plans requires that amounts recognized in financial statements be determined on an actuarial basis, rather than as contributions are made to the plan.  In consultation with actuaries, the Company determines the appropriate assumptions for use in determining the liability for future pension benefits.  Net actuarial gains or losses are amortized to expense on a plan-by-plan basis when they exceed the accounting corridor.  The accounting corridor is a defined range within which amortization of net gains and losses is not required and is equal to 10% of the greater of the market-related value of assets or benefit obligations.  Gains or losses outside of the corridor are subject to amortization. Product WarrantiesSome of the Company’s products are subject to standard warranties, and the Company reserves for the estimated cost of product warranties on a product-specific basis.  Facts and circumstances related to a product warranty matter and cost estimates to return, repair and/or replace the product are considered when establishing a product warranty reserve.  The adequacy of preexisting warranty reserves is assessed regularly, and the reserve is adjusted as necessary based on a review of historical warranty experience with respect to the applicable business or products, as well as the length and actual terms of the warranties, which are typically one year.  The product warranty reserve is included in current accrued liabilities