Company: TDY
Filing Date: 2025-10-24
Form Type: 10-Q
Source: 0001094285-25-000140
Chunk: 92

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-10-24
Form: 10-Q
Item: Part I, Item 8
Chunk 92
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):20252024Balance at beginning of year$50.2 $49.1 Product warranty expense 19.2 18.4 Deductions(12.9)(19.3)Acquisition 0.4 0.4 Balance at end of period$56.9 $48.6 

Note 7. Long-Term Debt

Balance atLong-Term Debt (in millions):September 28, 2025December 29, 2024$1.2 billion credit facility due June 2029$— $— 1.60% Fixed Rate Senior Notes due April 2026450.0 450.0 2.25% Fixed Rate Senior Notes due April 2028700.0 700.0 2.50% Fixed Rate Senior Notes due August 2030439.7 485.0 2.75% Fixed Rate Senior Notes due April 2031957.1 1,030.0 Other debt1.0 1.2 Debt discount and debt issuance costs(14.4)(17.2)Total debt, net2,533.4 2,649.0 Less: Current portion of long-term debt(450.2)(0.3)Total long-term debt, net of current portion$2,083.2 $2,648.7 At September 28, 2025, $1,168.7 million was available under the $1.2 billion credit facility after reductions of $31.3 million in outstanding letters of credit.  The Company’s bank credit agreements require the Company to comply with various financial and operating covenants, and at September 28, 2025, the Company was in compliance with these covenants.  In the first nine months of 2025, the Company repurchased and retired $118.2 million of principal of its fixed rate senior notes for $107.7 million in cash.

Note 8. Income Taxes

The income tax provision is calculated using an estimated annual effective tax rate based upon estimates of annual income, permanent items, statutory tax rates and planned tax strategies in the various jurisdictions in which the Company operates, except that certain loss jurisdictions and discrete items such as the resolution of uncertain tax positions and stock-based accounting income tax benefits are treated separately.Third QuarterNine Months(dollars in millions)2025202420252024Provision (benefit) for income taxes