Company: TDY
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001094285-25-000053
Chunk: 23

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1
Chunk 23
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 set of suppliers, including international sources, due to technical capability, price, and other factors.  We leverage our existing supplier relationships and are not dependent on any one supplier for a material amount of our purchases.  While some of our businesses provide services, for those businesses that sell products, a portion of the value that we provide is labor-oriented, such as design, engineering, assembly and test activities.  In manufacturing our products, we use our own production capabilities and third-party suppliers and subcontractors, including international sources.  At times we have experienced difficulty in procuring raw materials, components, sub-assemblies and other supplies required in our manufacturing processes due to shortages and supplier-imposed allocation of components.

Marketing

Our sales and marketing approach varies by segment and by products within our segments.  A shared fundamental tenet is the commitment to work closely with our customers to understand their needs, with an aim to secure preferred supplier and longer-term relationships.  Given the technical nature of our products, we conduct our marketing activities through a direct internal sales force as well as third-party sales representatives and distributors.  Several Teledyne businesses, including across our segments, are marketing and selling products collaboratively to certain customers.

Competition

Because of the diversity of products sold and the number of markets we serve, we encounter a wide variety of competitors, none of which we believe offer the same product and service lines or serve all of the same markets as we do.  Although we have certain advantages that we believe help us compete effectively in our markets, each of our markets is highly competitive.  Our businesses compete on quality, product performance and reliability, technical expertise, price and service.  Many of our competitors have, and potential competitors could have, greater name recognition, a larger installed base of products, more extensive engineering, manufacturing, marketing and distribution capabilities and greater financial, technological and personnel resources than we do.

4

Intellectual Property

We own and control various intellectual property rights, including patents, trade secrets, confidential information, trademarks, trade names, and copyrights.  We license patents, technology and other intellectual property rights owned and controlled by others.  Similarly, other companies license patents, technology and other intellectual property rights owned and controlled by us.  We do not consider any single patent or trademark, or any group of them, essential either to Teledyne’s business as a whole or to any one of our reportable segments.  The annual royalties received or paid under license agreements are not significant to any of our reportable segments or to