TELEDYNE TECHNOLOGIES INCTDY
TELEDYNE TECHNOLOGIES INC Revenue Disclosure
Revenue Recognition and Contract Balances
The Company disaggregates its revenue from contracts with customers by customer type and geographic region for each segment, as the Company believes it best depicts how the nature, amount, timing and uncertainty of its revenue and cash flows are affected by economic factors. With the exception of the Engineered Systems segment, net sales in each segment is primarily derived from fixed-price contracts. Net sales in the Engineered Systems segment are typically between 45% and 55% fixed-price contracts in a given reporting period, with the balance of net sales related to cost-reimbursable type contracts. For 2025, 2024 and 2023, approximately 46%, 50%, and 49%, respectively, of net sales in the Engineered Systems segment was derived from fixed-price contracts.
Fiscal Year Ended December 28, 2025 | Fiscal Year Ended December 28, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||
| Customer Type | Geographic Region (c) | ||||||||||||||||||||||||||||||||||||||||||||||
| (in millions) | U.S. Govt. (a) | Other (b) | Total | United States | Europe | Asia | All other | Total | |||||||||||||||||||||||||||||||||||||||
| Net sales: | |||||||||||||||||||||||||||||||||||||||||||||||
| Digital Imaging | $ | 645.5 | $ | 2,518.4 | $ | 3,163.9 | $ | 1,462.1 | $ | 833.3 | $ | 552.7 | $ | 315.8 | $ | 3,163.9 | |||||||||||||||||||||||||||||||
| Instrumentation | 125.5 | 1,331.6 | 1,457.1 | 619.0 | 438.7 | 245.7 | 153.7 | 1,457.1 | |||||||||||||||||||||||||||||||||||||||
| Aerospace and Defense Electronics | 420.1 | 638.6 | 1,058.7 | 671.5 | 253.7 | 93.7 | 39.8 | 1,058.7 | |||||||||||||||||||||||||||||||||||||||
| Engineered Systems | 368.3 | 67.4 | 435.7 | 430.2 | 0.1 | 2.3 | 3.1 | 435.7 | |||||||||||||||||||||||||||||||||||||||
| Total | $ | 1,559.4 | $ | 4,556.0 | $ | 6,115.4 | $ | 3,182.8 | $ | 1,525.8 | $ | 894.4 | $ | 512.4 | $ | 6,115.4 | |||||||||||||||||||||||||||||||
(a) U.S. Government sales include sales as a prime contractor or subcontractor.
(b) Primarily commercial sales
(c) Geographic region by destination
Fiscal Year Ended December 29, 2024 | Fiscal Year Ended December 29, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||
| Customer Type | Geographic Region (c) | ||||||||||||||||||||||||||||||||||||||||||||||
| (in millions) | U.S. Govt. (a) | Other (b) | Total | United States | Europe | Asia | All other | Total | |||||||||||||||||||||||||||||||||||||||
| Net sales: | |||||||||||||||||||||||||||||||||||||||||||||||
| Digital Imaging | $ | 557.1 | $ | 2,513.7 | $ | 3,070.8 | $ | 1,365.9 | $ | 830.1 | $ | 565.9 | $ | 308.9 | $ | 3,070.8 | |||||||||||||||||||||||||||||||
| Instrumentation | 123.5 | 1,259.1 | 1,382.6 | 611.7 | 389.0 | 249.9 | 132.0 | 1,382.6 | |||||||||||||||||||||||||||||||||||||||
| Aerospace and Defense Electronics | 307.5 | 469.3 | 776.8 | 525.9 | 136.0 | 79.9 | 35.0 | 776.8 | |||||||||||||||||||||||||||||||||||||||
| Engineered Systems | 389.0 | 50.8 | 439.8 | 435.4 | — | 1.9 | 2.5 | 439.8 | |||||||||||||||||||||||||||||||||||||||
| Total | $ | 1,377.1 | $ | 4,292.9 | $ | 5,670.0 | $ | 2,938.9 | $ | 1,355.1 | $ | 897.6 | $ | 478.4 | $ | 5,670.0 | |||||||||||||||||||||||||||||||
(a) U.S. Government sales include sales as a prime contractor or subcontractor.
(b) Primarily commercial sales
(c) Geographic region by destination
Fiscal Year Ended December 31, 2023 | Fiscal Year Ended December 31, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||
| Customer Type | Geographic Region (c) | ||||||||||||||||||||||||||||||||||||||||||||||
| (in millions) | U.S. Govt. (a) | Other (b) | Total | United States | Europe | Asia | All other | Total | |||||||||||||||||||||||||||||||||||||||
| Net sales: | |||||||||||||||||||||||||||||||||||||||||||||||
| Digital Imaging | $ | 570.7 | $ | 2,573.4 | $ | 3,144.1 | $ | 1,406.9 | $ | 808.7 | $ | 622.9 | $ | 305.6 | $ | 3,144.1 | |||||||||||||||||||||||||||||||
| Instrumentation | 95.9 | 1,230.3 | 1,326.2 | 566.2 | 386.8 | 253.0 | 120.2 | 1,326.2 | |||||||||||||||||||||||||||||||||||||||
| Aerospace and Defense Electronics | 330.3 | 396.2 | 726.5 | 492.0 | 137.2 | 67.1 | 30.2 | 726.5 | |||||||||||||||||||||||||||||||||||||||
| Engineered Systems | 384.8 | 53.9 | 438.7 | 430.3 | — | 3.8 | 4.6 | 438.7 | |||||||||||||||||||||||||||||||||||||||
| Total | $ | 1,381.7 | $ | 4,253.8 | $ | 5,635.5 | $ | 2,895.4 | $ | 1,332.7 | $ | 946.8 | $ | 460.6 | $ | 5,635.5 | |||||||||||||||||||||||||||||||
(a) U.S. Government sales include sales as a prime contractor or subcontractor.
(b) Primarily commercial sales
(c) Geographic region by destination
Remaining performance obligations represent the transaction price of firm orders for which work has not been performed as of the period end date and excludes unexercised contract options and potential orders under ordering-type contracts (e.g., indefinite-delivery, indefinite-quantity). As of December 28, 2025, the aggregate amount of the transaction price allocated to remaining performance obligations was $4,611.7 million. The Company expects approximately 71% of remaining performance obligations to be recognized into revenue within the next twelve months, with the remaining 29% recognized thereafter.
The unbilled receivable balance increased from the beginning of the year by $62.5 million, or 20.0%, primarily due to recognizing revenue ahead of achieving billing milestones on certain contracts within the Aerospace and Defense Electronics segment. Contract liabilities increased from the beginning of the year by $60.1 million or 17.5%, primarily due to an increase in customer advances in the Digital Imaging segment and the Aerospace and Defense Electronics segment. The Company recognized revenue of $201.9 million during the year ended December 28, 2025, from contract liabilities that existed at the beginning of year.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 20, 2026 | Showing above |
| 2024 | Feb 21, 2025 | |
| 2023 | Feb 23, 2024 | |
About Revenue Disclosures
Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.
Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.