Company: TDY
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001094285-25-000053
Chunk: 115

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 15
Chunk 115
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 as hedging instruments, are intended to, at a minimum, partially offset the transaction gains and losses recognized in earnings. 

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The following is a summary of notional amounts outstanding under foreign currency forward contracts, cross-currency swap agreements and their respective fair value amounts recorded in the consolidated balance sheets (in millions):December 29, 2024December 31, 2023Notional amountFair valueNotional amountFair valueDerivatives designated as hedging instrumentsForeign currency forward contractsOther current assets$— $— $116.5 $3.7 Other non-current assets$— — $70.5 2.4 Accrued liabilities$69.4 (2.5)$— — Other non-current liabilities$13.9 (0.5)$— — Cross-currency swap agreementsOther current assets$— — $— 0.1 Accrued liabilities$— — $172.6 (21.3)Total derivatives designated as hedging instruments$(3.0)$(15.1)Derivatives not designated as hedging instrumentsForeign currency forward contractsOther current assets$271.4 $1.0 $329.9 $14.2 Accrued liabilities$703.4 (13.9)$467.6 (3.2)Total derivatives not designated as hedging instruments$(12.9)$11.0 Total derivatives$(15.9)$(4.1)All derivatives are recorded on the balance sheet at fair value.  The accounting for income and losses resulting from changes in fair value depends on the use of the derivative and whether it is designated and qualifies for hedge accounting.  Teledyne does not use foreign currency forward contracts for speculative or trading purposes.The following is a summary of the gain (loss) included in the consolidated statements of income (loss) and comprehensive income (loss) related to the derivative instruments described above (in millions): 20242023Net gain (loss) recognized in AOCI - foreign exchange contracts (a)$(8.2)$19.3 Net gain (loss) reclassified from AOCI into revenue/cost of sales - foreign exchange contracts$1.1 $(6.2)Net gain (loss) reclassified from AOCI into interest expense - foreign exchange contracts$(17.9)$7.6 Net gain (loss) reclassified from AOCI into interest expense