Company: TDY
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001094285-25-000053
Chunk: 17

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1
Chunk 17
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Item 1.Business

Who We Are

Teledyne Technologies Incorporated is a Delaware corporation that provides enabling technologies for industrial growth markets that require advanced technology and high reliability.  These markets include aerospace and defense, factory automation, air and water quality environmental monitoring, electronics design and development, oceanographic research, deepwater oil and gas exploration and production, medical imaging and pharmaceutical research.  Our products include digital imaging sensors, cameras and systems within the visible, infrared and X-ray spectra, monitoring and control instrumentation for marine and environmental applications, harsh environment interconnects, electronic test and measurement equipment, aircraft information management systems, and defense electronics and satellite communication subsystems.  We also supply engineered systems for defense, space, environmental and energy applications.  We believe our technological capabilities, innovation and ability to invest in the development of new and enhanced products are critical to obtaining and maintaining leadership in our markets and the industries in which we compete.  We became an independent public company effective November 29, 1999.

The following description of our business should be read together with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” within Item 7 of this Form 10-K.

Recent Developments

Consistent with our strategy, we completed two acquisitions each in 2024 and in 2023.  The financial results of these acquisitions have been included since the respective date of each acquisition.  Our 2024 and 2023 acquisitions were within the Digital Imaging and Instrumentation segments.  See Note 3 for additional information about our 2024 and 2023 business acquisitions. Subsequent to the end of the year, we have completed two acquisitions.  See Note 18 for additional information.

Our Business Segments

Our businesses are aligned in four segments: Digital Imaging, Instrumentation, Aerospace and Defense Electronics and Engineered Systems.  Additional financial information about our business segments can be found in Note 4.

  Percentage of Total Net SalesSegment contribution to total net sales:202420232022Digital Imaging54 %56 %57 %Instrumentation24 %23 %23 %Aerospace and Defense Electronics14 %13 %12 %Engineered Systems8 %8 %8 %Total100 %100 %100 %

Digital Imaging Segment

Our Digital Imaging segment includes high-performance sensors, cameras, and systems, within the visible, infrared, ultraviolet and X-ray spectra for use in industrial, scientific, government, space, defense, security, medical