Company: TDY
Filing Date: 2025-07-28
Form Type: 10-Q
Source: 0001094285-25-000131
Chunk: 103

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-07-28
Form: 10-Q
Item: Part I, Item 8
Chunk 103
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 million in the second quarter of 2025 primarily due to higher R&D expense at the Digital Imaging and Instrumentation segments.

Acquired Intangible Asset Amortization

Acquired intangible asset amortization for the second quarter of 2025 was $54.6 million compared with $49.1 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 second quarter of 2025 and 2024, pension service expense was $1.5 million.  For 2025, the weighted-average discount rate used to determine the benefit obligation for the domestic qualified pension plans is 7.05% compared with 6.86% in 2024. 

Operating Income

Operating income for the second quarter of 2025 increased 12.6%.  The second quarter of 2025, compared with the second quarter of 2024, reflected higher operating income in each segment.

Non-operating Income and Expense

Interest and debt expense, net of interest income, was $17.6 million for the second quarter of 2025 compared with $15.8 million.  Non-service retirement benefit income was $2.7 million for both the second quarter of 2025 and 2024.  Other income and expense, net, was expense of $2.7 million for the second quarter of 2025 compared with expense of $2.2 million for the second quarter of 2024.  The Company also recorded a gain on debt extinguishment of $3.3 million for the second quarter of 2025 which is included in other income and expense, net, with no comparable amount recorded in the second quarter of 2024.

25

Income Tax

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

Second Quarter(dollars in millions)20252024Provision (benefit) for income taxes (a)$50.2$51.4Income (loss) before income taxes$260.6$231.7Effective tax rate19.3%22.2%

(a) The second quarter of 2025 includes net discrete income tax benefits of $8.4 million and the second quarter of 2024 includes net discrete income tax benefits of $0.7 million.

First six months of 2025 compared