Company: TDY
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001094285-25-000053
Chunk: 221

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 221
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 $0.6 $(0.4)Obligations and funded statusThe expected long-term rate of return on plan assets is reviewed annually, taking into consideration the Company’s asset allocation, historical returns on the types of assets held, the current economic environment, and prospective expectations.  Teledyne determines the discount rate based on a model which matches the timing and amount of expected benefit payments to maturities of high-quality corporate bonds priced as of the pension plan measurement date.  The yields on the bonds are used to derive a discount rate for the obligation.The following assumptions were used to measure the net benefit income or expense within each respective year for the domestic qualified plans and the foreign plans:Pension Plan Assumptions:Discount ratesIncrease in future compensation levelsExpected long-term rate of returnDomestic plans - 20245.40% - 5.45%2.75%6.58% - 7.80%Domestic plans - 20235.71% - 5.72%2.75%6.58% - 7.80%Domestic plans - 20222.91% - 3.08%2.75%6.58% - 7.80%Foreign plans - 20241.30% - 4.50%1.50% - 3.00%1.25% - 6.20%Foreign plans - 20232.20% - 4.80%1.50% - 3.00%1.25% - 5.10%Foreign plans - 20220.20% - 1.80%1.00% - 2.50%1.00% - 2.70%

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For its domestic and foreign pension plans the Company is projecting a weighted-average long-term rate of return on plan assets of 7.05% and 4.84% in 2025, respectively. Domestic Foreign Changes in benefit obligation (in millions):2024202320242023Benefit obligation - beginning of year$584.1 $583.0 $51.5 $45.2 Service cost5.1 5.2 1.1 0.9 Interest cost on projected benefit obligation30.3 31.7 1.9 1.9 Actuarial (gain) loss(10.2)23.6 (3.0)3.1 Benefits paid(