Company: TDY
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001094285-25-000053
Chunk: 94

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 15
Chunk 94
---
696.6 $663.0 $1,033.6 Customer list/relationships599.3 252.9 346.4 609.5 219.4 390.1 Patents0.6 0.6 — 0.6 0.6 — Non-compete agreements0.9 0.9 — 0.9 0.9 — Definite-lived trademarks12.2 7.7 4.5 10.2 5.8 4.4 Backlog16.0 16.0 — 16.4 16.4 — Acquired intangible assets subject to amortization2,294.5 1,074.7 1,219.8 2,334.2 906.1 1,428.1 Acquired intangible assets not subject to amortization:Indefinite-lived trademarks793.1 — 793.1 850.0 — 850.0 Total acquired intangible assets$3,087.6 $1,074.7 $2,012.9 $3,184.2 $906.1 $2,278.1 Amortizable acquired intangible assets are amortized on a straight-line basis over their estimated useful lives ranging from one to 15 years.  Consistent with Teledyne’s growth strategy, the Company seeks to acquire companies in markets characterized by high barriers to entry and that include specialized products not likely to be commoditized.  Given our markets and highly engineered nature of our products, the rates of new technology development and customer acquisition and/or attrition are often not volatile.  As such, Teledyne believes the value of acquired intangible assets decline in a linear, as opposed to an accelerated fashion, and the Company believes amortization on a straight-line basis is appropriate.  The expected future amortization expense for the next five years is as follows (in millions): 2025 - $190.3; 2026 - $187.7; 2027 - $180.6; 2028 - $178.2; 2029 - $139.2.In the fourth quarter of 2024, the Company performed a quantitative impairment test on all indefinite-lived trademarks.  As a result of our annual impairment tests, $52.5 million of impairment was recorded to 202