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

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-07-28
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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Note 3. Business Segments

Teledyne is a leading provider of sophisticated digital imaging products and software, instrumentation, aerospace and defense electronics, and engineered systems.  The Company’s customers include government agencies, aerospace prime contractors, energy exploration and production companies, major industrial companies and airlines.  The Company has four reportable segments: Digital Imaging, Instrumentation, Aerospace and Defense Electronics and Engineered Systems.Segment results include net sales and operating income by segment but exclude corporate expenses.  Corporate expense primarily includes administrative expenses relating to the corporate office not allocated to the segments.

8

In the first quarter of 2025, the Company completed two acquisitions, and the financial results of these acquisitions have been included since the date of the acquisition and are part of the Aerospace and Defense Electronics segment.  In 2024, the Company completed two acquisitions, and the financial results of these acquisitions have been included since the date of the acquisition and are part of the Digital Imaging and Instrumentation segments.  See Note 2 to these condensed consolidated financial statements for information regarding these 2025 and 2024 acquisitions.The following table presents net sales, operating expenses and operating income by segment (dollars in millions):Second Quarter%Six Months%Net Sales (a):20252024Change20252024ChangeDigital Imaging$771.0 $739.4 4.3 %$1,528.0 $1,480.2 3.2 %Instrumentation 367.6 333.5 10.2 %710.9 663.9 7.1 %Aerospace and Defense Electronics264.8 194.4 36.2 %507.3 380.1 33.5 %Engineered Systems110.3 106.8 3.3 %217.4 200.0 8.7 %Total net sales$1,513.7 $1,374.1 10.2 %$2,963.6 $2,724.2 8.8 %(a) Net sales exclude inter-segment sales of $7.2 million and $11.0 million for the second quarter and first six months of 2025, respectively, and $8.5 million and $13.3 million for the second quarter and first six months of 2024, respectively.Second Quarter%Six Months%Cost of sales:20252024Change20252024ChangeDigital Imaging$