Company: TDY
Filing Date: 2025-10-24
Form Type: 10-Q
Source: 0001094285-25-000140
Chunk: 48

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-10-24
Form: 10-Q
Item: Part I, Item 1
Chunk 48
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2024September 28, 2025December 29, 2024Derivatives designated as hedging instrumentsForeign currency forward contracts$33.1 $83.3 $0.6 $— $(0.2)$(3.0)Cross-currency swap agreements524.9 — 7.0 — (38.3)— Total derivatives designated as hedging instruments$558.0 $83.3 $7.6 $— $(38.5)$(3.0)Derivatives not designated as hedging instrumentsForeign currency forward contracts714.9 974.8 0.6 1.0 (5.9)(13.9)Total derivatives$1,272.9 $1,058.1 $8.2 $1.0 $(44.4)$(16.9)All derivative assets are presented in Other current assets or Other non-current assets.  All derivative liabilities are presented in Accrued liabilities or Other non-current liabilities.

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Note 14. Fair Value Measurement

The Company’s financial assets and liabilities carried at fair value are primarily comprised of derivative contracts used to hedge the Company’s foreign currency risk.  The Company has not elected to measure any additional financial instruments or other items at fair value.Financial Instruments Recorded at Fair ValueThe fair values of the Company’s derivative financial instruments are presented below.  All fair values for these derivatives were measured using Level 2 hierarchy information as defined by the accounting policies (in millions):September 28, 2025December 29, 2024Assets:Foreign currency forward contracts$1.2 $1.0 Cross-currency swaps7.0 —      Total assets recorded at fair value$8.2 $1.0 Liabilities:Foreign currency forward contracts(6.1)(16.9)Cross-currency swaps(38.3)—      Total liabilities recorded at fair value$(44.4)$(16.9)           Net derivatives at fair value$(36.2)$(15.9)Gross derivative assets and liabilities are subject to legally enforceable master netting agreements, for which the Company has not elected to present net amounts on the condensed consolidated balance sheets.  The effect of such right of setoff on the Company’s financial position was $0.2 million as of September 28, 2025, and December 29