Company: TDY
Filing Date: 2025-04-28
Form Type: 10-Q
Source: 0001094285-25-000105
Chunk: 25

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-04-28
Form: 10-Q
Item: Part I, Item 1
Chunk 25
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 basis.  This method recognizes, in the current period, the cumulative effect of the changes on current and prior quarters.  Additionally, if the current contract estimate indicates a loss, a provision is made for the total anticipated loss in the period that it becomes evident.  Contract cost and revenue estimates for significant contracts are generally reviewed and reassessed quarterly.The net aggregate effects of these changes in estimates on contracts accounted for under the cost-to-cost method in the first three months of 2025 was $2.3 million of favorable operating income compared with $0.3 million of unfavorable operating income in the first three months of 2024.  None of the effects of changes in estimates on any individual contract were material to the condensed consolidated statements of income (loss) for any period presented.

Note 5. Goodwill and Acquired Intangible Assets

GoodwillThe carrying value of goodwill by segment was as follows (in millions):Digital Imaging InstrumentationAerospace and Defense ElectronicsEngineered SystemsTotalBalance at December 29, 2024$6,854.6 $955.3 $163.0 $17.6 $7,990.5 Current year acquisitions— — 456.6 — 456.6 Foreign currency changes and other63.6 10.6 12.7 — 86.9 Balance at March 30, 2025$6,918.2 $965.9 $632.3 $17.6 $8,534.0 Acquired intangible assetsAcquired intangible assets consisted of the following (in millions):March 30, 2025December 29, 2024Gross Carrying AmountAccumulated AmortizationNet Carrying AmountGross Carrying AmountAccumulated AmortizationNet Carrying AmountProprietary technology$1,830.5 $859.1 $971.4 $1,665.5 $796.6 $868.9 Customer list/relationships655.6 266.3 389.3 599.3 252.9 346.4 Patents0.6 0.6 — 0.6 0.6 — Non-compete agreements0.9 0.9 — 0.9 0.9 — Trademarks48.4 9.4 39.0 12.2 7.