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Business Segments
 3 Months Ended
Mar. 29, 2026
Segment Reporting [Abstract]  
Business Segments Business Segments
Teledyne is a leading provider of sophisticated digital imaging products and software, instrumentation, aerospace and defense electronics, and engineered systems. The Company’s customers include government agencies, aerospace prime contractors, energy exploration and production companies, major industrial companies, and airlines. The Company has four reportable segments: Digital Imaging, Instrumentation, Aerospace and Defense Electronics, and Engineered Systems.
Segment results include net sales and operating income by segment but exclude corporate expenses. Corporate expense primarily includes administrative expenses relating to the corporate office not allocated to the segments.
In the first quarter of 2026, the Company completed one acquisition, and the financial results of this acquisition have been included since the date of the acquisition and is part of the Instrumentation segment. In 2025, the Company completed four acquisitions, and the financial results of these acquisitions have been included since the date of the acquisition and are part of the Digital Imaging and Aerospace and Defense Electronics segments. See Note 2 to these condensed consolidated financial statements for information regarding these 2026 and 2025 acquisitions.
Information for the Company’s business segments was as follows (in millions):
 First Quarter Ended March 29, 2026
Digital Imaging
Instrumentation
Aerospace and Defense Electronics
Engineered Systems
Total
Net sales (a)
$816.9 $361.4 $277.5 $104.3 $1,560.1 
Costs and expenses
Cost of sales447.6 190.2 162.7 85.8 886.3 
Selling, general and administrative127.2 54.2 30.4 6.6 218.4 
Research and development52.4 25.1 6.9 0.2 84.6 
Acquired intangible asset amortization48.0 3.5 6.1 — 57.6 
Segment Operating income (loss)
$141.7 $88.4 $71.4 $11.7 $313.2 
Reconciliation to Income (loss) before income taxes
Corporate expense
(19.0)
Interest and debt expense, net(12.3)
Non-service retirement benefit income2.7 
Other income (expense), net(5.9)
Income (loss) before income taxes
$278.7 
(a) Net sales exclude inter-segment sales of $5.3 million for the first quarter of 2026.
 First Quarter Ended March 30, 2025
Digital Imaging
Instrumentation
Aerospace and Defense Electronics
Engineered Systems
Total
Net sales (a)
$757.0 $343.3 $242.5 $107.1 $1,449.9 
Costs and expenses
Cost of sales422.5 173.5 144.2 90.2 830.4 
Selling, general and administrative122.7 49.7 33.2 6.1 211.7 
Research and development44.1 24.2 6.0 — 74.3 
Acquired intangible asset amortization45.4 3.2 3.4 — 52.0 
Segment Operating income (loss)
$122.3 $92.7 $55.7 $10.8 $281.5 
Reconciliation to Income (loss) before income taxes
Corporate expense
(22.2)
Interest and debt expense, net(17.3)
Non-service retirement benefit income2.8 
Other income (expense), net(5.9)
Income (loss) before income taxes
$238.9 
(a) Net sales exclude inter-segment sales of $3.8 million for the first quarter of 2025.
Product Lines
The Instrumentation segment includes three product lines: Marine Instrumentation, Environmental Instrumentation and Test and Measurement Instrumentation. All other segments each contain one product line.
The table below provides a summary of the net sales by product line for the Instrumentation segment (in millions):
First Quarter
Instrumentation20262025
Marine Instrumentation$175.3 $161.8 
Environmental Instrumentation116.2 108.9 
Test and Measurement Instrumentation69.9 72.6 
Total$361.4 $343.3 
Identifiable assets are those assets used in the operations of the segments. Corporate assets primarily consist of cash and cash equivalents, deferred taxes, pension assets and other assets.
Identifiable assets for the Company’s business segments was as follows (in millions):
Identifiable assets:March 29, 2026December 28, 2025
Digital Imaging$11,325.2 $11,303.3 
Instrumentation1,870.9 1,794.3 
Aerospace and Defense Electronics1,509.3 1,498.2 
Engineered Systems205.3 184.1 
Total segment identifiable assets
14,910.7 14,779.9 
Corporate582.3 505.4 
Total Teledyne identifiable assets
$15,493.0 $15,285.3