Teledyne Technologies Incorporated

“Teledyne Technologies Incorporated is a Delaware corporation that provides enabling technologies to sense, analyze and distribute information for industrial growth markets that require advanced technology and high reliability.”

“Our businesses are aligned in four segments: Digital Imaging, Instrumentation, Aerospace and Defense Electronics, and Engineered Systems.”

“Sales under these contracts with the U.S. Government, which included contracts with the U.S. Department of War, were 25% and 24% of our total net sales in 2025 and 2024, respectively.”

“(a) U.S. Government sales include sales as a prime contractor or subcontractor. (b) Primarily commercial sales”

“Our Digital Imaging segment includes high-performance sensors, cameras and systems within the visible, infrared, ultraviolet and X-ray spectra for use in industrial, scientific, government, space, defense, security, medical and other applications.”

“Our Instrumentation segment provides monitoring and control instruments for marine, environmental, industrial and other applications, and electronic test and measurement equipment.”

“We provide a broad range of end-to-end undersea interconnect solutions to the offshore oil and gas, naval defense, oceanographic and telecom markets.”

“We also manufacture fixed and portable industrial gas and flame detection instruments used in a variety of industries, including petrochemical, power generation, oil and gas, food and beverage, mining, and wastewater treatment.”

“We develop, manufacture, sell and license high-performance oscilloscopes, high-speed protocol analyzers, generators and emulators, and related test and measurement solutions for a wide range of industries.”

“In both 2025 and 2024, sales to customers outside the United States accounted for approximately 48% of total net sales. In both 2025 and 2024, we sold products to customers in over 100 foreign countries. In 2025, the top five countries for sales to international customers, ranked by net sales, were the UK, Germany, Japan, China and France and represented approximately 20% of our total net sales.”

“Total$1,559.4 $4,556.0 $6,115.4 $3,182.8 $1,525.8 $894.4 $512.4 $6,115.4”

“Digital Imaging52 %54 %56 % Instrumentation24 %24 %23 % Aerospace and Defense Electronics17 %14 %13 % Engineered Systems7 %8 %8 %”

“Digital Imaging$3,163.9 $3,070.8 $93.1 3.0 % Instrumentation1,457.1 1,382.6 74.5 5.4 % Aerospace and Defense Electronics1,058.7 776.8 281.9 36.3 % Engineered Systems435.7 439.8 (4.1)(0.9)%”

“we are exposed to movements in the exchange rates of various currencies against the U.S. dollar. We try to reduce this potential volatility in reported earnings primarily through derivative instruments and hedging activities.”

“China has also restricted the export of certain rare earth minerals and permanent magnets that are used in our products, which has in the past delayed and could in the future limit our ability to sell products that require these components or result in lower margins products that incorporate these components.”

“Consistent with our strategy, we completed four acquisitions in 2025 and two acquisitions in 2024. The financial results of these acquisitions have been included since the respective date of each acquisition.”

“During 2026, we plan to invest approximately $150 million in capital expenditures, principally to upgrade facilities and manufacturing equipment as well as to support internal growth initiatives.”

“We intend to strengthen and expand our business with targeted acquisitions and through product development. We continue to focus on balanced and disciplined capital deployment among capital expenditures, acquisitions, stock repurchases and product development.”

“The global trade environment continues to be highly dynamic, including new potential tariffs and retaliatory tariffs, and a number of the tariffs remain in effect.”

“Net sales$6,115.4 $5,670.0 $445.4 7.9 %”

“As of December 28, 2025, the aggregate amount of the transaction price allocated to remaining performance obligations was $4,611.7 million.”

“Current year acquisitions47.5 — 433.7 — 481.2”

“These legal requirements, in addition to emission reduction efforts that we voluntarily undertake, are expected to result in increased capital expenditures and compliance costs”

“the ability to obtain regulatory approvals, including under increasingly stringent merger control and foreign direct investment laws, and the availability of debt and equity financing”

“If we are unable to increase our product prices enough to offset these increased costs, our gross margins and profitability could decrease, perhaps significantly over a sustained period of time.”

“An unfavorable outcome could result in substantial fines and penalties or loss or suspension of export privileges or of particular authorizations that could be material to our financial position, results of operations or cash flows.”

“A possible recession in the United States or globally may adversely affect us.”

“Many of our production facilities and our headquarters are located in California and thus are in areas with above average seismic activity and may also be at risk of damage due to wildfire or mudslides.”

“Previous U.S. Government shutdowns have resulted in delays in anticipated contract awards, issuances of export licenses, shipments and payments of invoices for several of our businesses.”

“We have been joined, among a number of defendants (often over 100), in lawsuits alleging injury or death as a result of exposure to asbestos.”

“Higher interest rates may reduce capital spending by our existing and potential customers, which could result in lower sales of our products.”