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Business Acquisitions | 3 Months Ended
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Mar. 30, 2025
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
Business Acquisitions | Business Acquisitions 2025 Acquisitions Micropac During the first quarter of 2025, the Company acquired Micropac Industries, Inc. (“Micropac”) for approximately $51.2 million in cash, net of cash acquired. Micropac, founded in 1963 and headquartered in Garland, Texas, designs and manufactures microelectronic circuits, optoelectronic components and sensor and display assemblies primarily for military, aerospace and medical applications. Micropac will be part of the Aerospace & Defense Electronics segment. The Company funded the acquisition from cash on hand. Goodwill resulting from the Micropac acquisition will not be deductible for tax purposes. Optical Systems and Advanced Electronics Systems businesses During the first quarter of 2025, the Company acquired select aerospace and defense electronics businesses of Excelitas Technologies C orp. (“Excelitas”) for approximately $706.4 million in cash, net of cash acquired, and subject to certain adjustments. The acquisition includes the Optical Systems (“OS”) business known under the Qioptiq® brand based in Northern Wales, UK, as well as the U.S. based Advanced Electronic Systems (“AES”) business. The OS and AES businesses will be part of the Aerospac e and Defense Electronics segment. The Company funded the acquisition from available borrowings on the credit facility as well as from cash on hand. Goodwill resulting from the acquisition of the UK operations will not be deductible for tax purposes, and goodwill resulting from the acquisition of the U.S. operations will be deductible for tax purposes. 2024 Acquisitions Adimec During the second quarter of 2024, the Company acquired Adimec Holding B.V. and its subsidiaries (“Adimec”) for $88.7 million in cash, net of cash acquired, and subject to certain adjustments. Adimec, founded in 1992 and headquartered in Eindhoven, Netherlands, develops customized high-performance industrial and scientific cameras. Adimec is part of the Digital Imaging segment. Goodwill resulting from the Adimec acquisition will not be deductible for tax purposes. Valeport During the second quarter of 2024, the Company acquired Valeport Holdings 2019 Limited and its affiliates (“Valeport”) for $35.0 million in cash, net of cash acquired, subject to certain adjustments. Valeport, founded in 1969 and headquartered in Totnes, UK, designs and manufactures underwater sensors for environmental, energy, construction and defense applications. Valeport is part of the Marine Instrumentation product line within the Instrumentation segment. Goodwill resulting from the Valeport acquisition will not be deductible for tax purposes. The following tables show the purchase price (net of cash acquired), goodwill acquired, and acquired intangible assets for these acquisitions (in millions):
|  | 2025
Acquisitions |  | Acquisition Date |  | Consideration Transferred (a) |  | Goodwill Acquired |  | Acquired Intangible Assets
OS and AES businesses |  | February 3, 2025 |  | $ | 706.4 |  |  | $ | 451.6 |  |  | $ | 183.6 |
Micropac |  | December 30, 2024 |  | 51.2 |  |  | 5.0 |  |  | 8.1 |
Total |  |  |  | $ | 757.6 |  |  | $ | 456.6 |  |  | $ | 191.7 |
(a) Net of cash acquired
|  | 2024
Acquisitions |  | Acquisition Date |  | Consideration Transferred (a) |  | Goodwill Acquired |  | Acquired Intangible Assets
Adimec |  | June 4, 2024 |  | $ | 88.7 |  |  | $ | 64.6 |  |  | $ | 17.9 |
Valeport |  | April 10, 2024 |  | 35.0 |  |  | 23.6 |  |  | 7.8 |
Total |  |  |  | $ | 123.7 |  |  | $ | 88.2 |  |  | $ | 25.7 |
(a) Net of cash acquired The Company’s cost to acquire these acquisitions was allocated to the assets acquired and liabilities assumed based upon their respective fair values as of the date of the completion of the acquisition. The differences between the fair value of the consideration paid and the estimated fair value of the assets and liabilities acquired was recorded as goodwill. The fair value of the acquired identifiable assets and liabilities for the OS and AES businesses, Micropac and Adimec are provisional pending finalization of the Company’s acquisition accounting, including the measurement of tax basis in certain jurisdictions and the resulting deferred taxes that might arise from book and tax basis differences, if any. Pro forma results of operations, the revenue and net income subsequent to the acquisition date, and a more detailed breakout of the major classes of assets and liabilities acquired for these acquisitions have not been presented because the effects of these acquisitions both individually and in the aggregate were not material to the Company's financial results. The significant factors that resulted in recognition of goodwill for the 2025 and 2024 acquisitions included the acquired businesses’ market positions, growth opportunities in the markets in which they operate, their experienced work force and established operating infrastructures. The results of these acquisitions have been included in Teledyne’s results since the dates of their respective acquisition.

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-5 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/805/tableOfContent + Details
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