Company: TDY
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001094285-25-000053
Chunk: 100

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 15
Chunk 100
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 Canadian operations and investments.  The Company estimates that future cash generation will be sufficient to meet future domestic cash requirements.  The unrecognized deferred tax liability for the historical unremitted Canadian earnings is estimated between at $23.0 million to $26.0 million of potential tax. In assessing the need for a valuation allowance, the Company considers all positive and negative evidence, including recent financial performance, scheduled reversals of temporary differences, projected future taxable income, availability of taxable income in carryback periods and tax planning strategies.  Based on a review of such information, management believes that it is possible that some portion of deferred tax assets will not be realized as a future benefit and therefore has recorded a valuation allowance.  The valuation allowance for deferred tax assets increased by $2.0 million in 2024. At December 29, 2024, the Company had approximately $21.7 million of net operating loss carryforward from the Company’s foreign entities including Denmark and The Netherlands, of which $13.1 million have no expiration dates and $8.6 million have expiration dates ranging from 2025 to 2044.  The Company had Canadian capital loss carryforward in the amount of $3.3 million which has no expiration date. In addition, the Company had domestic federal and state net operating loss carryforward of $15.3 million and $192.6 million, respectively.  Generally, federal net operating loss carryforward amounts are limited in their use by earnings of certain acquired subsidiaries.  Of the $15.3 million federal net operating loss carryforward, $14.5 million have no expiration dates and $0.8 million have expiration dates ranging from 2025 to 2036.  The state net operating loss carryforward amounts have expiration dates ranging from 2025 to 2043.The Company had aggregate Canadian federal and provincial investment tax credits of $10.8 million, which have expiration dates ranging from 2030 to 2042.  The Company had United States federal credit carryforward of $4.6 million which have expiration dates ranging from 2031 to 2042.  The Company had Spanish federal research and development credit carryforward in the amount of $2.8 million, which have expiration dates ranging from 2025 to 2042. Finally, the Company had state tax credits of $10.6 million, of which $5.5 million have no expiration date and $5.1 million have expiration dates ranging from 2025 to