Company: TDY
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001094285-25-000053
Chunk: 297

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 297
---
4, our Board of Directors approved a stock repurchase program authorizing the Company to repurchase up to $1.25 billion of Teledyne’s common stock.  This authorization superseded prior open stock repurchase programs authorized by the Board of Directors.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 intends to fund future share repurchases with cash on hand and available borrowings under the Company's credit facility.Preferred StockAuthorized preferred stock may be issued with designations, powers and preferences designated by the Board of Directors.  There were no shares of preferred stock issued or outstanding in 2024, 2023 or 2022.Redeemable Noncontrolling InterestThe minority ownership interest in shares of NL Acoustics is classified as a redeemable noncontrolling interest on the consolidated balance sheets due to a put option under which the minority owners may require the Company to purchase the remaining ownership interest, with the put option exercisable beginning in the third quarter of 2025.  The redeemable noncontrolling interest is measured at the greater of the amount that would be paid if settlement occurred as of the balance sheet date based on the contractually defined redemption value or its carrying amount adjusted for net income (loss) attributable to the noncontrolling interest.  Adjustments to the carrying value of the redeemable noncontrolling interest are recorded through retained earnings.  Changes in the redeemable noncontrolling interest balance during the period were not material.Income TaxesThe Company is subject to income taxes in the Unites States and numerous foreign jurisdictions.  The provision for income taxes is computed using the asset and liability method, under which deferred tax assets and liabilities are recognized for temporary differences between the tax basis of assets and liabilities and their reported amount in the financial statements, which will result in taxable or deductible amounts in the future.  In evaluating the Company’s ability to recover its deferred tax assets within