Company: TDY
Filing Date: 2025-04-28
Form Type: 10-Q
Source: 0001094285-25-000105
Chunk: 32

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-04-28
Form: 10-Q
Item: Part I, Item 1
Chunk 32
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$(686.3)Foreign Currency TranslationCash Flow HedgesPension and Postretirement BenefitsTotalBalance at December 31, 2023$(392.7)$8.2 $(249.6)$(634.1)   Other comprehensive income (loss) before reclassifications(88.8)2.7 — (86.1)   Amounts reclassified from AOCI— (6.9)2.1 (4.8)Net other comprehensive income (loss)(88.8)(4.2)2.1 (90.9)Balance at March 31, 2024$(481.5)$4.0 $(247.5)$(725.0)The reclassifications out of AOCI to net income for the first quarter ended March 30, 2025, and March 31, 2024 are as follows (in millions):Amount Reclassified from AOCI for the Quarter Ended March 30, 2025Amount Reclassified from AOCI for the Quarter Ended March 31, 2024Statement of Income (Loss) Presentation(Gain) loss on cash flow hedges:Loss (gain) recognized in income on derivatives$0.9 $(9.3)See Note 13Income tax impact(0.2)2.4 Provision for income taxesTotal$0.7 $(6.9)Amortization of defined benefit pension and postretirement plan items:Amortization of prior service cost$0.1 $(0.1)Costs and expensesAmortization of net actuarial loss1.8 2.9 Costs and expensesTotal before tax1.9 2.8 Income tax impact(0.4)(0.7)Provision for income taxesTotal$1.5 $2.1 

17

Note 13. Derivative Instruments and Hedging Activities

The Company's primary exposure to market risk relates to changes in foreign currency exchange rates and interest rates.  The Company’s primary foreign currency risk management objective is to protect the U.S. dollar value of future cash flows and minimize the volatility of reported earnings.  During the first quarter ended March 30, 2025, the Company entered into certain derivative contracts to reduce the volatility from translation of the Company’s euro denominated net investments.  The Company does not use foreign currency forward contracts for speculative or trading purposes.The Company