Company: TDY
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001094285-25-000053
Chunk: 253

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 253
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$3,144.1$(73.3)(2.3)%Cost of sales$1,708.0$1,711.4$(3.4)(0.2)%Selling, general and administrative expense$510.7$489.6$21.14.3%Research and development expense$177.3$244.0$(66.7)(27.3)%Acquired intangible asset amortization$183.3$181.7$1.60.9%Impairment of acquired intangible assets$49.5$—$49.5*Operating income$442.0$517.4$(75.4)(14.6)%Cost of sales % of net sales55.6 %54.4 %1.2%Selling, general and administrative expense % of net sales16.6 %15.6 %1.0%Research and development expense % of net sales5.8 %7.7 %(1.9)%Acquired intangible asset amortization % of net sales6.0 %5.8 %0.2%Impairment of acquired intangible assets % of net sales1.6 %— %*Operating income % of net sales 14.4 %16.5 %(2.1)%International sales % of net sales 55.5 %55.3 %0.2%U.S. Government sales % of net sales 18.1 %18.2 %(0.1)%

* not meaningful

Our Digital Imaging segment includes high-performance sensors, cameras and systems, within the visible, infrared and X-ray spectra for use in industrial, government and medical applications, as well as MEMS and high-performance, high-reliability semiconductors including analog-to-digital and digital-to-analog converters.

27

2024 compared with 2023 

Our Digital Imaging segment net sales for 2024 decreased 2.3%, compared with 2023.  Operating income for 2024, which included a $49.5 million impairment of acquired intangible assets, decreased 14.6%, compared with 2023.

Total year 2024 net sales included $27.1 million in incremental net sales from current and prior year acquisitions.  Sales of industrial automation vision systems decreased $134.7 million, sales of X-ray products decreased $31.9 million, sales of unmanned ground systems decreased $17