Company: TDY
Filing Date: 2025-07-28
Form Type: 10-Q
Source: 0001094285-25-000131
Chunk: 100

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-07-28
Form: 10-Q
Item: Part I, Item 8
Chunk 100
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 effective during the respective period.  As a result, we are exposed to movements in the exchange rates of various currencies against the U.S. dollar.  See Note 13 for additional discussion around our derivative instruments and hedging activities used to mitigate these impacts.

As part of a continuing effort to reduce costs and improve operating performance, we continue to take actions to consolidate and relocate certain facilities and reduce headcount across various businesses, reducing our exposure to weaker end markets.  We continue to seek cost reductions in our businesses.

23

Results of Operations

  Second Quarter%Six Months%(dollars in millions)20252024Change20252024ChangeNet sales$1,513.7 $1,374.1 10.2 %$2,963.6 $2,724.2 8.8 %Costs and expensesCost of sales869.1 781.5 11.2 %1,699.5 1,551.7 9.5 %Selling, general and administrative229.4 224.8 2.0 %463.3 444.5 4.2 %Research and development82.4 71.7 14.9 %156.7 148.2 5.7 %Acquired intangible asset amortization54.6 49.1 11.2 %106.6 98.5 8.2 %Total costs and expenses1,235.5 1,127.1 9.6 %2,426.1 2,242.9 8.2 %Operating income (loss)278.2 247.0 12.6 %537.5 481.3 11.7 %Interest and debt income (expense), net(17.6)(15.8)11.4 %(34.9)(28.5)22.5 %Non-service retirement benefit income (expense)2.7 2.7 — %5.5 5.4 1.9 %Other income (expense), net(2.7)(2.2)22.7 %(8.6)(1.0)*Income before income taxes260.6 231.7 12.5 %499.5 457.2 9.3 %Provision (benefit) for income taxes50.2 51.4