Company: TDY
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001094285-25-000053
Chunk: 309

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 309
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 1, 2023Fiscal Year Ended January 1, 2023Customer TypeGeographic Region (c)(in millions)U.S. Govt. (a)Other (b)TotalUnited StatesEuropeAsiaAll otherTotalNet sales:Digital Imaging$619.1 $2,491.8 $3,110.9 $1,416.6 $749.7 $637.8 $306.8 $3,110.9 Instrumentation108.1 1,145.9 1,254.0 554.5 311.5 267.1 120.9 1,254.0 Aerospace and Defense Electronics266.3 416.1 682.4 494.6 96.1 65.3 26.4 682.4 Engineered Systems366.4 44.9 411.3 406.9 — 1.3 3.1 411.3 Total$1,359.9 $4,098.7 $5,458.6 $2,872.6 $1,157.3 $971.5 $457.2 $5,458.6 (a)  U.S. Government sales include sales as a prime contractor or subcontractor.(b)  Primarily commercial sales(c)  Geographic region by destinationRemaining performance obligations represent the transaction price of firm orders for which work has not been performed as of the period end date and excludes unexercised contract options and potential orders under ordering-type contracts (e.g., indefinite-delivery, indefinite-quantity).  As of December 29, 2024, the aggregate amount of the transaction price allocated to remaining performance obligations was $3,700.5 million.  The Company expects approximately 77% of remaining performance obligations to be recognized into revenue within the next twelve months, with the remaining 23% recognized thereafter.

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The unbilled receivable balance increased from the beginning of the year by $9.7 million, or 3.2% , primarily due to recognizing revenue ahead of achieving billing milestones on certain contracts within the Aerospace and Defense Electronics and Digital Imaging segments.  Contract liabilities increased from the beginning of the year by $76.5 million or 28.7%, primarily due to an increase in customer advances in the Digital Imaging segment and Aerospace and Defense Electronics segment.  The Company