Company: TDY
Filing Date: 2025-07-28
Form Type: 10-Q
Source: 0001094285-25-000131
Chunk: 53

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-07-28
Form: 10-Q
Item: Part I, Item 1
Chunk 53
---
 pension plans is 7.05% compared with 6.86% in 2024. 

Operating Income

Operating income for the second quarter of 2025 increased 12.6%.  The second quarter of 2025, compared with the second quarter of 2024, reflected higher operating income in each segment.

Non-operating Income and Expense

Interest and debt expense, net of interest income, was $17.6 million for the second quarter of 2025 compared with $15.8 million.  Non-service retirement benefit income was $2.7 million for both the second quarter of 2025 and 2024.  Other income and expense, net, was expense of $2.7 million for the second quarter of 2025 compared with expense of $2.2 million for the second quarter of 2024.  The Company also recorded a gain on debt extinguishment of $3.3 million for the second quarter of 2025 which is included in other income and expense, net, with no comparable amount recorded in the second quarter of 2024.

25

Income Tax

The second quarter of both the 2025 and 2024 income tax provision considers income, permanent items, tax credits and various statutory tax rates.

Second Quarter(dollars in millions)20252024Provision (benefit) for income taxes (a)$50.2$51.4Income (loss) before income taxes$260.6$231.7Effective tax rate19.3%22.2%

(a) The second quarter of 2025 includes net discrete income tax benefits of $8.4 million and the second quarter of 2024 includes net discrete income tax benefits of $0.7 million.

First six months of 2025 compared with the first six months of 2024

The first six months of 2025 net sales increased 8.8%.  Net income for the first six months of 2025 increased 11.1%, driven primarily by higher net sales.  Net income per diluted share was $8.41 for the first six months of 2025, compared with net income per diluted share of $7.49.

Net Sales 

The first six months of 2025 net sales, compared with the first six months of 2024, reflected higher net sales in each segment. The first six months of 2025 included $125.7 million in incremental sales from recent acquisitions, which are primarily included within the Aerospace and