Company: TDY
Filing Date: 2025-10-24
Form Type: 10-Q
Source: 0001094285-25-000140
Chunk: 55

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-10-24
Form: 10-Q
Item: Part I, Item 1
Chunk 55
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 of 2025 compared with $8.7 million.

Research and Development Expense

R&D expense increased $10.4 million in the third quarter of 2025 primarily due to higher R&D expense in the Digital Imaging segment.

Acquired Intangible Asset Amortization

Acquired intangible asset amortization for the third quarter of 2025 was $55.1 million compared with $49.8 million, with the increase primarily related to 2025 acquisitions within the Aerospace and Defense Electronics segment.

Pension Service Expense

Pension service expense is included in both cost of sales and SG&A expense.  For the third quarter of 2025 and 2024, pension service expense was $1.5 million.

Operating Income

Operating income for the third quarter of 2025 increased 4.5%.  The third quarter of 2025, compared with the third quarter of 2024, reflected higher operating income in the Instrumentation and Aerospace and Defense Electronics segments, including incremental operating income related to 2025 acquisitions.

Non-operating Income and Expense

Interest and debt expense, net of interest income, was $12.6 million for the third quarter of 2025 compared with $15.7 million.  Non-service retirement benefit income was $2.7 million for the third quarter of 2025 compared with $2.8 million.  Other income (expense), net, was income of $0.9 million for the third quarter of 2025 compared with expense of $2.7 million for the third quarter of 2024.  Other income (expense), net, primarily consisted of a $7.2 million gain on debt extinguishment, partially offset by foreign currency exchange losses in the third quarter of 2025.  Other income (expense), net, primarily consisted of foreign currency exchange losses in the third quarter of 2024.

26

Income Tax

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

Third Quarter(dollars in millions)20252024Provision (benefit) for income taxes (a)$52.9$(7.1)Income (loss) before income taxes$273.8$255.1Effective tax rate19.3%(2.8)%

(a) The third quarter of 2025 includes net discrete income tax benefits of $4.9 million and the third quarter of 2024 includes net discrete income tax benefits