Company: TDY
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001094285-25-000053
Chunk: 325

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 325
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 are valued using inputs such as quoted market prices of identical instruments or values derived from comparable securities of issuers with similar credit ratings, or under a discounted cash flow approach that utilizes observable inputs, such as current yields of similar instruments.Defined Benefit Postretirement PlansThe Company sponsors several postretirement defined benefit plans covering certain salaried and hourly employees.  The plans provide health care and life insurance benefits for certain eligible retirees.  Total cost for these plans was less than $1.0 million for each fiscal year 2024, 2023 and 2022. Deferred Contribution Plans The Company’s contributions associated with its 401(k) plans were $30.3 million, $31.4 million and $29.7 million, for 2024, 2023 and 2022, respectively.Deferred Compensation Plans The Company has non-qualified executive deferred compensation plans that provide supplemental retirement income benefits for a select group of management.  This plan permits eligible employees to make salary and bonus deferrals that are 100% vested.  Teledyne has an unsecured obligation to pay in the future the value of the deferred compensation adjusted to reflect the performance, whether positive or negative, of selected investment measurement options chosen by each participant during the deferral period.  In addition, the Company has separate deferred compensation plans acquired in connection with the FLIR and ETM acquisitions, and these plans were frozen at the end of fiscal years 2021 and 2022, respectively.  As of December 29, 2024 and December 31, 2023, $111.3 million and $102.2 million, respectively, is included in other long-term liabilities related to deferred compensation liabilities on the consolidated balance sheets.  Additionally, the Company purchased life insurance policies on certain participants to potentially offset these unsecured obligations.  These policies are recorded at their cash surrender value as determined by the insurance carrier.  The cash surrender value of these policies was $111.0 million and $101.3 million, as of December 29, 2024 and December 31, 2023, respectively, and is primarily included in other non-current assets on the consolidated balance sheets.

Note 11. Stockholders’ Equity

Common stock and treasury stock activity:Common StockTreasury StockBalance, January 1, 202347,194,766 282,131 Issued137,079 (282,131)Balance, December 31, 202347,331,845 —