Company: TDY
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001094285-25-000053
Chunk: 224

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 224
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 approximately 55% in fixed income instruments.The pension plans’ investments are stated at fair value.  Plan investments that are considered a level 1 fair value hierarchy and are valued at quoted market prices in active markets.  Plan investments that are considered a level 2 fair value hierarchy and are valued based on observable market data.  Plan investments that would be considered a level 3 fair value hierarchy are valued based on management’s own assumption about the assumptions that market participants would use in pricing the asset or liability (including assumptions about risk).

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Certain investments are measured at fair value using net asset values as a practical expedient and are not required to be categorized in the fair value hierarchy table listed below.  As such, the balance of these investments measured at net asset value has been included in the table below to permit reconciliation to the plan asset amounts previously disclosed.The fair values of the Company’s net pension assets, by fair value hierarchy, for both the U.S. and foreign pension plans as of December 29, 2024, by asset category are as follows (in millions):Asset category:(a)Level 1Level 2Level 3TotalCash and cash equivalents (b)$— $18.6 $— $18.6 Equity securities4.1 185.3 — 189.4 U.S. Government securities and futures234.7 — — 234.7 Corporate bonds— 17.1 — 17.1 Insurance contracts related to foreign plans— 11.7 — 11.7 Fair value of net plan assets at the end of the year$238.8 $232.7 $— $471.5 Investments measured at net asset value:Alternatives$199.6 Mutual funds (c)5.2 Mortgage-backed securities45.6 High yield bonds35.5 Fair value of net plan assets at the end of the year$285.9 (a)  There were no transfers of plan assets between the three levels of the fair value hierarchy during the year.(b)  Reflects cash and cash equivalents held in overnight cash investments. (c)  The mutual funds are invested in equity securities.The fair values of the Company’s net pension assets, by fair value hierarchy, for both the U.S. and foreign pension plans as of December 31, 2023, by asset category are as follows (in millions):Asset category: (a