Company: TDY
Filing Date: 2025-07-28
Form Type: 10-Q
Source: 0001094285-25-000131
Chunk: 91

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-07-28
Form: 10-Q
Item: Part I, Item 8
Chunk 91
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 94,477 $456.89 Vested(3,419)$334.87 (40,706)$403.53 Forfeited/canceled(2,816)$427.43 (8,244)$396.24 Ending balance205,871$424.63 205,871 $424.63 

16

Note 11. Earnings Per Share

The weighted average number of common shares used in the calculation of basic and diluted earnings per share consisted of the following (in millions): Second QuarterSix Months2025202420252024Weighted average basic common shares outstanding46.9 47.2 46.8 47.3 Effect of dilutive securities (primarily stock options)0.5 0.6 0.6 0.6 Weighted average diluted common shares outstanding47.4 47.8 47.4 47.9 For the second quarter and first six months of 2024, the Company excluded approximately 0.2 million of stock options in the computation of diluted earnings per share because the effect of their inclusion would have been anti-dilutive.  For the second quarter and first six months of 2025, the Company did not have any stock options that would have been anti-dilutive.Stock RepurchasesIn July 2025, our Board of Directors approved a stock repurchase program authorizing the Company to repurchase up to $2.0 billion of Teledyne’s common stock.  This authorization superseded the remaining prior open stock repurchase programs authorized by the Board of Directors.  The newly authorized stock repurchase program does not have a stated expiration date.  Shares may be repurchased from time to time in open market transactions at prevailing market prices, in privately negotiated transactions or via an accelerated stock repurchase program.  Shares could be repurchased in a plan pursuant to Rule 10b5-1 of the Securities Exchange Act of 1934.  The repurchase program is expected to remain open continuously, and the number of shares purchased will depend on a variety of factors such as share price, levels of cash available, acquisitions and alternative investment opportunities available immediately or longer-term, and other regulatory, market or economic conditions.  The Company currently intend to fund future share repurchases, if any, with cash on hand and available borrowings under the Company’s credit facility.  No repurchases under any authorizations were made in the second quarter and first