Company: TDY
Filing Date: 2025-04-28
Form Type: 10-Q
Source: 0001094285-25-000105
Chunk: 66

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-04-28
Form: 10-Q
Item: Part I, Item 8
Chunk 66
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 inventories, net$1,011.8 $914.4 Product Warranty CostsSome of the Company’s products are subject to specified warranties, and the Company provides for the estimated cost of product warranties.  The adequacy of the warranty reserve 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.  The warranty reserve is included in current accrued liabilities and other long-term liabilities on the condensed consolidated balance sheet. First QuarterWarranty Reserve (in millions):20252024Balance at beginning of year$50.2 $49.1 Product warranty expense 7.4 3.5 Deductions(3.8)(5.1)Acquisition 0.4 — Balance at end of period$54.2 $47.5 

Note 7. Long-Term Debt

Balance atLong-Term Debt (in millions):March 30, 2025December 29, 2024$1.20 billion credit facility due June 2029, weighted average variable rate of 5.55% at March 30, 2025$315.0 $— 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 2030485.0 485.0 2.75% Fixed Rate Senior Notes due April 20311,030.0 1,030.0 Other debt1.1 1.2 Debt discount and debt issuance costs(16.3)(17.2)Total debt, net2,964.8 2,649.0 Less: Current portion of long-term debt(0.2)(0.3)Total long-term debt, net of current portion$2,964.6 $2,648.7 At March 30, 2025, $855.5 million was available under the $1.2 billion credit facility after reductions of $315.0 million in outstanding borrowings and $29.5 million in outstanding letters of credit.  The Company’s bank credit agreements requires it to comply with various financial and operating covenants, and at March 30, 2025, the Company