Company: TDY
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001094285-25-000053
Chunk: 83

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 15
Chunk 83
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 infrequent transactions (less active markets); or model-derived valuations in which all significant inputs are observable or can be derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities.  Level 3 are unobservable inputs to the valuation methodology that are significant to the measurement of fair value of assets or liabilities.To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment.  In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy; for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement is disclosed is determined based on the lowest level input that is significant to the fair value measurement.Related Party TransactionsFor all periods presented, the Company had no material related party transactions that required disclosure.Recent Accounting StandardsIn November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.  This standard requires a public entity to disclose significant segment expenses and other segment items on an interim and annual basis.  Additionally, it requires a public entity to disclose the title and position of the Chief Operating Decision Maker (“CODM”).  The new standard is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted.  The Company adopted this ASU as of January 1, 2024, and applied the amendments in this ASU retrospectively to all prior periods presented in the financial statements.  The adoption of this guidance did not have a material impact on the Company’s consolidated financial statements.

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In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires public entities, on an annual basis, to provide disclosure of specific categories in the rate reconciliation, as well as disclosure of income taxes paid disaggregated by jurisdiction focuses on the rate reconciliation and income taxes paid.  ASU 2023-09 is effective for annual periods beginning after December 15, 2024, with early adoption permitted.  The Company is evaluating the impact of adopting this guidance on its consolidated financial statements.In November 2024, the FASB issued ASU