Company: TDY
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001094285-25-000053
Chunk: 311

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 311
---
.4 16.4 — Acquired intangible assets subject to amortization2,294.5 1,074.7 1,219.8 2,334.2 906.1 1,428.1 Acquired intangible assets not subject to amortization:Indefinite-lived trademarks793.1 — 793.1 850.0 — 850.0 Total acquired intangible assets$3,087.6 $1,074.7 $2,012.9 $3,184.2 $906.1 $2,278.1 Amortizable acquired intangible assets are amortized on a straight-line basis over their estimated useful lives ranging from one to 15 years.  Consistent with Teledyne’s growth strategy, the Company seeks to acquire companies in markets characterized by high barriers to entry and that include specialized products not likely to be commoditized.  Given our markets and highly engineered nature of our products, the rates of new technology development and customer acquisition and/or attrition are often not volatile.  As such, Teledyne believes the value of acquired intangible assets decline in a linear, as opposed to an accelerated fashion, and the Company believes amortization on a straight-line basis is appropriate.  The expected future amortization expense for the next five years is as follows (in millions): 2025 - $190.3; 2026 - $187.7; 2027 - $180.6; 2028 - $178.2; 2029 - $139.2.In the fourth quarter of 2024, the Company performed a quantitative impairment test on all indefinite-lived trademarks.  As a result of our annual impairment tests, $52.5 million of impairment was recorded to 2024.  Recorded impairment charges to intangible assets were not material in 2023 or 2022.

65

The estimated remaining useful lives by asset category as of December 29, 2024, are as follows:Acquired intangibles subject to amortizationWeighted average remaining useful life in yearsProprietary technology5.8Customer list/relationships9.3Trademarks2.2Total acquired intangibles subject to amortization6.5

Note 7. Supplemental Balance Sheet Information

Balance at year-endAccounts Receivable and Unbilled Receivables (in millions):20242023Commercial and other billed rece