Teledyne Technologies (TDY) 10-Q26 Jul 242024 Q2 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	6 Months Ended
Cover Page - shares	Jun. 30, 2024	Jul. 19, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	1-15295
Entity Registrant Name	TELEDYNE TECHNOLOGIES INC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	25-1843385
Entity Address, Address Line One	1049 Camino Dos Rios
Entity Address, City or Town	Thousand Oaks
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	91360-2362
City Area Code	805
Local Phone Number	373-4545
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	TDY
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		46,784,213
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001094285
Current Fiscal Year End Date	--12-31

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Income Statement [Abstract]
Net sales	$ 1,374.1	$ 1,424.7	$ 2,724.2	$ 2,808
Costs and expenses
Cost of sales	781.5	806.3	1,551.7	1,597
Selling, general and administrative	296.5	313	592.7	613.4
Acquired intangible asset amortization	49.1	49.3	98.5	99
Total costs and expenses	1,127.1	1,168.6	2,242.9	2,309.4
Operating income (loss)	247	256.1	481.3	498.6
Interest and debt income (expense), net	(15.8)	(22.3)	(28.5)	(43.3)
Gain (loss) on debt extinguishment	0	1.6	0	1.6
Non-service retirement benefit income (expense), net	2.7	2.9	5.4	6.2
Other income (expense), net	(2.2)	(3.4)	(1)	(4.5)
Income (loss) before income taxes	231.7	234.9	457.2	458.6
Provision (benefit) for income taxes	51.4	49.4	97.8	94.3
Net income (loss) including noncontrolling interest	180.3	185.5	359.4	364.3
Less: Net income (loss) attributable to noncontrolling interest	0.1	0.2	0.7	0.3
Net income (loss) attributable to Teledyne	$ 180.2	$ 185.3	$ 358.7	$ 364
Basic earnings per common share (in USD per share)	$ 3.82	$ 3.94	$ 7.58	$ 7.74
Weighted average common shares outstanding (in shares)	47.2	47	47.3	47
Diluted earnings per common share (in USD per share)	$ 3.77	$ 3.87	$ 7.49	$ 7.60
Weighted average diluted common shares outstanding (in shares)	47.8	47.9	47.9	47.9

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Statement of Comprehensive Income [Abstract]
Net income (loss) including noncontrolling interest	$ 180.3	$ 185.5	$ 359.4	$ 364.3
Other comprehensive income (loss):
Foreign exchange translation adjustment	(5.8)	12.3	(94.6)	8
Hedge activity, net of tax	(2.3)	1.6	(6.5)	4.1
Pension and postretirement benefit adjustments, net of tax	2.1	0.9	4.2	2.4
Other comprehensive income (loss)	(6)	14.8	(96.9)	14.5
Comprehensive income (loss) including noncontrolling interest	174.3	200.3	262.5	378.8
Less: Comprehensive income (loss) attributable to noncontrolling interest	0.1	0.2	0.7	0.3
Comprehensive income (loss) attributable to Teledyne	$ 174.2	$ 200.1	$ 261.8	$ 378.5

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Current Assets
Cash and cash equivalents	$ 443.2	$ 648.3
Accounts receivable, net	860.2	899.7
Unbilled receivables, net	301.3	302.4
Inventories, net	965.7	917.7
Prepaid expenses and other current assets	174.3	213.3
Total current assets	2,744.7	2,981.4
Property, plant and equipment, net of accumulated depreciation and amortization of $984.8 at June 30, 2024 and $947.1 at December 31, 2023	755.6	777
Goodwill	8,040.2	8,002.8
Acquired intangibles, net	2,182.9	2,278.1
Prepaid pension assets	211.5	203.3
Other assets, net	286.2	285.3
Total Assets	14,221.1	14,527.9
Current Liabilities
Accounts payable	399.7	384.7
Accrued liabilities	836.8	781.3
Current portion of long-term debt	150.5	600.1
Total current liabilities	1,387	1,766.1
Long-term debt, net of current portion	2,646.9	2,644.8
Long-term deferred tax liabilities	407.1	415.4
Other long-term liabilities	455.2	475.8
Total Liabilities	4,896.2	5,302.1
Commitments and contingencies
Redeemable Noncontrolling Interest	5.2	4.6
Stockholders’ Equity
Preferred stock, $0.01 par value; outstanding shares - none	0	0
Common stock, $0.01 par value; issued shares: 47,432,939 at June 30, 2024 and 47,331,845 at December 31, 2023; outstanding shares: 46,943,484 at June 30, 2024 and 47,331,845 at December 31, 2023	0.5	0.5
Additional paid-in capital	4,435.9	4,407.3
Retained earnings	5,806.2	5,447.5
Treasury stock, 489,455 shares at June 30, 2024 and — at December 31, 2023	(191.9)	0
Accumulated other comprehensive income (loss)	(731)	(634.1)
Total Stockholders’ Equity	9,319.7	9,221.2
Total Liabilities, Redeemable Noncontrolling Interest and Stockholders' Equity	$ 14,221.1	$ 14,527.9

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Accumulated depreciation and amortization	$ 984.8	$ 947.1
Preferred stock, par value (in USD per share)	$ 0.01	$ 0.01
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in USD per share)	$ 0.01	$ 0.01
Common stock, shares issued (in shares)	47,432,939	47,331,845
Common stock, shares outstanding (in shares)	46,943,484	47,331,845
Treasury stock (in shares)	489,455	0

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Millions	Total	Common Stock	Additional Paid-in Capital	Treasury Stock	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Beginning balance at Jan. 01, 2023	$ 8,169.2	$ 0.5	$ 4,353.4	$ (20)	$ 4,561.8	$ (726.5)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	178.7				178.7
Other comprehensive income (loss), net of tax	(0.3)					(0.3)
Treasury stock issued	0		(10.6)	10.6
Stock-based compensation	7.9		7.9
Exercise of stock options and other	10.2		10.2
Ending balance at Apr. 02, 2023	8,365.7	0.5	4,360.9	(9.4)	4,740.5	(726.8)
Beginning balance at Jan. 01, 2023	8,169.2	0.5	4,353.4	(20)	4,561.8	(726.5)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	364
Other comprehensive income (loss), net of tax	14.5
Ending balance at Jul. 02, 2023	8,579	0.5	4,371.2	(6.5)	4,925.8	(712)
Beginning balance at Apr. 02, 2023	8,365.7	0.5	4,360.9	(9.4)	4,740.5	(726.8)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	185.3				185.3
Other comprehensive income (loss), net of tax	14.8					14.8
Treasury stock issued	0		(2.9)	2.9
Stock-based compensation	8.4		8.4
Exercise of stock options and other	4.8		4.8
Ending balance at Jul. 02, 2023	8,579	0.5	4,371.2	(6.5)	4,925.8	(712)
Beginning balance at Dec. 31, 2023	9,221.2	0.5	4,407.3	0	5,447.5	(634.1)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	178.5				178.5
Other comprehensive income (loss), net of tax	(90.9)					(90.9)
Stock-based compensation	12		12
Exercise of stock options and other	7.2		7.2
Ending balance at Mar. 31, 2024	9,328	0.5	4,426.5	0	5,626	(725)
Beginning balance at Dec. 31, 2023	9,221.2	0.5	4,407.3	0	5,447.5	(634.1)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	358.7
Other comprehensive income (loss), net of tax	(96.9)
Ending balance at Jun. 30, 2024	9,319.7	0.5	4,435.9	(191.9)	5,806.2	(731)
Beginning balance at Mar. 31, 2024	9,328	0.5	4,426.5	0	5,626	(725)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	180.2				180.2
Other comprehensive income (loss), net of tax	(6)					(6)
Treasury stock issued	0		(1.9)	1.9
Treasury stock repurchased	(193.8)			(193.8)
Stock-based compensation	9.3		9.3
Exercise of stock options and other	2		2
Ending balance at Jun. 30, 2024	$ 9,319.7	$ 0.5	$ 4,435.9	$ (191.9)	$ 5,806.2	$ (731)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023	Dec. 31, 2023
Operating Activities
Net income (loss) including noncontrolling interest	$ 180.3	$ 185.5	$ 359.4	$ 364.3
Adjustments to reconcile net income (loss) including noncontrolling interest to net cash provided by (used in) operating activities:
Depreciation and amortization			155.8	162.1
Stock-based compensation			21.3	16.3
Gain (loss) on debt extinguishment	0	(1.6)	0	(1.6)
Changes in operating assets and liabilities excluding the effect of business acquired:
Accounts receivable and unbilled receivables			39.1	9.9
Inventories			(43.2)	(75.3)
Accounts payable			13.3	(49.7)
Deferred taxes and income taxes receivable (payable), net			13.5	8.5
Prepaid expenses and other assets			7.4	(16.3)
Accrued expenses and other liabilities			33.6	(18.6)
Other operating, net			9.5	(6.1)
Net cash provided by (used in) operating activities			609.7	393.5
Investing Activities
Purchases of property, plant and equipment			(33.6)	(51.7)
Purchases of businesses, net of cash acquired			(123.6)	(53.5)
Other investing, net			0.1	0.7
Net cash provided by (used in) investing activities			(157.1)	(104.5)
Financing Activities
Proceeds from (payments on) fixed rate senior notes			(450)	(308.4)
Net borrowings from (repayments made to) credit facility			0	(125)
Proceeds from (payments on) other debt			(0.1)	(135.3)
Proceeds from exercise of stock options			11.5	15
Purchases of treasury stock	(193.8)		(193.8)	0
Liquidation (maturity) of cross currency swap			0	(13.5)
Other financing, net			(5.5)	(0.6)
Net cash provided by (used in) financing activities			(637.9)	(567.8)
Effects of exchange rate changes on cash			(19.8)	4.9
Change in cash and cash equivalents			(205.1)	(273.9)
Cash and cash equivalents—beginning of period			648.3	638.1	$ 638.1
Cash and cash equivalents—end of period	$ 443.2	$ 364.2	$ 443.2	$ 364.2	$ 648.3

General

General	6 Months Ended
General	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
General	General Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared by Teledyne Technologies Incorporated (“Teledyne” or the “Company”) pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and disclosures normally included in notes to consolidated financial statements have been condensed or omitted pursuant to such rules and regulations, but resultant disclosures are in accordance with generally accepted accounting principles in the United States (“GAAP”) as they apply to interim reporting. The condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and the related notes in Teledyne’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023 (“2023 Form 10-K”). In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments (consisting of normal recurring adjustments) necessary to present fairly, in all material respects, Teledyne’s consolidated financial position as of June 30, 2024 and the consolidated results of operations, consolidated comprehensive income (loss) and consolidated cash flows for the second quarter and six months ended June 30, 2024. The results of operations and cash flows for the periods ended June 30, 2024 and cash flows for the six months ended June 30, 2024 are not necessarily indicative of the results of operations or cash flows to be expected for any subsequent quarter or the full fiscal year. Recent Accounting Standards In 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. A public entity should apply the amendments in this ASU retrospectively to all prior periods presented in the financial statements. The Company is evaluating the impact of adopting this guidance on its consolidated financial statements. 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.

Business Acquisitions

Business Acquisitions	6 Months Ended
Business Acquisitions	Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Business Acquisitions	Business Acquisitions 2024 Acquisitions During the second quarter of 2024, the Company acquired Adimec Holding B.V. and its subsidiaries (“Adimec”) for $88.1 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. During the second quarter of 2024, the Company acquired Valeport Holdings 2019 Limited and its affiliates ("Valeport") for $35.5 million in cash, net of cash acquired, subject to certain adjustments. Approximately 10% of the purchase price is payable in fiscal year 2025. Valeport, founded in 1969 and headquartered in Totnes, United Kingdom, 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. 2023 Acquisitions Xena Networks During the fourth quarter of 2023, the Company acquired Xena Networks ApS and affiliates (“Xena Networks”) for $24.2 million in cash, net of cash acquired, and subject to certain adjustments. Xena Networks, headquartered in Denmark, is a leading provider of high-speed terabit ethernet validation, quality assurance, and production test solutions. Xena Networks is part of the Test and Measurement Instrumentation product line within the Instrumentation segment. Goodwill resulting from the Xena Networks acquisition will not be deductible for tax purposes. ChartWorld During the first quarter of 2023, the Company acquired ChartWorld International Limited and affiliates ("ChartWorld") for $53.5 million in cash, net of cash acquired, and subject to certain adjustments. ChartWorld, headquartered in Cyprus, with additional locations in Germany, Singapore, Canada and Japan, is a provider of digital marine navigation hardware and software provided through an affordable subscription-based model. ChartWorld is part of the Digital Imaging segment. Goodwill resulting from the ChartWorld 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): 2024 Acquisitions Acquisition Date Consideration Transferred (a) Goodwill Acquired Acquired Intangible Assets Adimec June 4, 2024 $ 88.1 $ 63.8 $ 17.9 Valeport April 10, 2024 35.5 23.3 7.8 $ 123.6 $ 87.1 $ 25.7 (a) Net of cash acquired; approximately 10% of the Valeport purchase price is payable in 2025 and included in the amount above 2023 Acquisitions Acquisition Date Consideration Transferred (a) Goodwill Acquired Acquired Intangible Assets Xena Networks October 13, 2023 $ 24.2 $ 21.1 $ 4.8 ChartWorld January 3, 2023 53.5 55.5 11.3 Total $ 77.7 $ 76.6 $ 16.1 (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 Adimec, Valeport and Xena Networks acquisition is 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, 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 2023 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.

Business Segments

Business Segments	6 Months Ended
Business Segments	Jun. 30, 2024
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. Our 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 excludes corporate expenses. Corporate expense primarily includes administrative expenses relating to the corporate office not allocated to our segments. The following table presents net sales and operating income by segment (dollars in millions): Second Quarter % Six Months % 2024 2023 Change 2024 2023 Change Net sales (a): Digital Imaging $ 739.4 $ 793.3 (6.8) % $ 1,480.2 $ 1,565.8 (5.5) % Instrumentation 333.5 328.4 1.6 % 663.9 661.9 0.3 % Aerospace and Defense Electronics 194.4 186.0 4.5 % 380.1 359.2 5.8 % Engineered Systems 106.8 117.0 (8.7) % 200.0 221.1 (9.5) % Total net sales $ 1,374.1 $ 1,424.7 (3.6) % $ 2,724.2 $ 2,808.0 (3.0) % Operating income: Digital Imaging $ 113.5 $ 124.6 (8.9) % $ 227.3 $ 246.8 (7.9) % Instrumentation 87.2 81.4 7.1 % 173.2 162.1 6.8 % Aerospace and Defense Electronics 57.1 53.2 7.3 % 109.0 100.2 8.8 % Engineered Systems 7.5 11.5 (34.8) % 10.2 21.5 (52.6) % Corporate expense (18.3) (14.6) 25.3 % (38.4) (32.0) 20.0 % Operating income $ 247.0 $ 256.1 (3.6) % $ 481.3 $ 498.6 (3.5) % (a) Net sales exclude inter-segment sales of $8.5 million and $13.3 million for the second quarter and first six months of 2024, respectively, and $8.1 million and $14.3 million for the second quarter and first six months of 2023, respectively. Identifiable assets are those assets used in the operations of the segments. Corporate assets primarily consist of cash and cash equivalents, deferred taxes, net pension assets/liabilities and other assets (in millions): Identifiable assets: June 30, 2024 December 31, 2023 Digital Imaging $ 11,236.1 $ 11,382.2 Instrumentation 1,734.6 1,692.3 Aerospace and Defense Electronics 560.4 569.1 Engineered Systems 208.3 184.8 Corporate 481.7 699.5 Total identifiable assets $ 14,221.1 $ 14,527.9 Product Lines The Instrumentation segment includes three product lines: Marine Instrumentation, Environmental Instrumentation and Test and Measurement Instrumentation. The Company’s other three segments each contain one product line. The following table provides a summary of the net sales by product line for the Instrumentation segment (in millions): Second Quarter Six Months Instrumentation 2024 2023 2024 2023 Marine Instrumentation $ 147.8 $ 127.4 $ 295.6 $ 255.6 Environmental Instrumentation 113.5 115.3 224.6 233.2 Test and Measurement Instrumentation 72.2 85.7 143.7 173.1 Total $ 333.5 $ 328.4 $ 663.9 $ 661.9

Revenue Recognition and Contrac

Revenue Recognition and Contract Balances	6 Months Ended
Revenue Recognition and Contract Balances	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue Recognition and Contract Balances	Revenue Recognition and Contract Balances Approximately 70% of the Company's net sales are recognized at a point in time, with the remaining 30% of net sales recognized over time. The Company disaggregates its revenue from contracts with customers by customer type and geographic region for each segment, as management believes it best depicts how the nature, amount, timing and uncertainty of its revenue and cash flows are affected by economic factors. Second Quarter Ended June 30, 2024 Second Quarter Ended June 30, 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 $ 122.3 $ 617.1 $ 739.4 $ 325.3 $ 201.7 $ 136.5 $ 75.9 $ 739.4 Instrumentation 29.3 304.2 333.5 153.4 82.6 61.9 35.6 333.5 Aerospace and Defense Electronics 60.8 133.6 194.4 132.9 33.4 20.1 8.0 194.4 Engineered Systems 95.7 11.1 106.8 106.0 — 0.3 0.5 106.8 Total $ 308.1 $ 1,066.0 $ 1,374.1 $ 717.6 $ 317.7 $ 218.8 $ 120.0 $ 1,374.1 (a) U.S. Government sales include sales as a prime contractor or subcontractor. (b) Primarily commercial sales (c) Geographic region by destination Six Months Ended June 30, 2024 Six Months Ended June 30, 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 $ 253.0 $ 1,227.2 $ 1,480.2 $ 659.0 $ 402.0 $ 270.7 $ 148.5 $ 1,480.2 Instrumentation 62.7 601.2 663.9 298.0 179.5 122.0 64.4 663.9 Aerospace and Defense Electronics 119.6 260.5 380.1 256.6 67.6 38.7 17.2 380.1 Engineered Systems 175.5 24.5 200.0 198.8 — 0.4 0.8 200.0 Total $ 610.8 $ 2,113.4 $ 2,724.2 $ 1,412.4 $ 649.1 $ 431.8 $ 230.9 $ 2,724.2 (a) U.S. Government sales include sales as a prime contractor or subcontractor. (b) Primarily commercial sales (c) Geographic region by destination Second Quarter Ended July 2, 2023 Second Quarter Ended July 2, 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 $ 131.3 $ 662.0 $ 793.3 $ 356.4 $ 207.3 $ 152.4 $ 77.2 $ 793.3 Instrumentation 21.3 307.1 328.4 139.4 95.2 64.6 29.2 328.4 Aerospace and Defense Electronics 61.0 125.0 186.0 126.0 36.2 15.5 8.3 186.0 Engineered Systems 103.2 13.8 117.0 114.4 — 0.4 2.2 117.0 Total $ 316.8 $ 1,107.9 $ 1,424.7 $ 736.2 $ 338.7 $ 232.9 $ 116.9 $ 1,424.7 (a) U.S. Government sales include sales as a prime contractor or subcontractor. (b) Primarily commercial sales (c) Geographic region by destination Six Months Ended July 2, 2023 Six Months Ended July 2, 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 $ 261.6 $ 1,304.2 $ 1,565.8 $ 690.8 $ 404.6 $ 310.8 $ 159.6 $ 1,565.8 Instrumentation 44.3 617.6 $ 661.9 277.4 192.4 132.1 60.0 661.9 Aerospace and Defense Electronics 125.7 233.5 $ 359.2 246.1 65.7 32.5 14.9 359.2 Engineered Systems 196.5 24.6 $ 221.1 217.7 — 0.6 2.8 221.1 Total $ 628.1 $ 2,179.9 $ 2,808.0 $ 1,432.0 $ 662.7 $ 476.0 $ 237.3 $ 2,808.0 (a) U.S. Government sales include sales as a prime contractor or subcontractor. (b) Primarily commercial sales (c) Geographic region by destination With the exception of the Engineered Systems segment, net sales in each segment are 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 derived from cost-reimbursable type contracts. For the six months ended June 30, 2024, approximately 49% of net sales in the Engineered Systems segment were derived from fixed price contracts. Contract Liabilities Balance at Contract Liabilities by Balance Sheet Location (in millions) June 30, 2024 December 31, 2023 Accrued liabilities $ 311.2 $ 241.1 Other long-term liabilities 29.5 25.5 Total contract liabilities $ 340.7 $ 266.6 The Company recognized revenue of $101.3 million during the six months ended June 30, 2024 from contract liabilities that existed at the beginning of year. Remaining Performance Obligations Remaining performance obligations represent the transaction price of firm orders for which work has not been performed as of the period end date and exclude unexercised contract options and potential orders under ordering-type contracts (e.g., indefinite-delivery, indefinite-quantity). As of June 30, 2024, the aggregate amount of the transaction price allocated to remaining performance obligations was $3,419.3 million. The Company expects approximately 77% of remaining performance obligations to be recognized into revenue within the next twelve months, with the remaining 23% recognized thereafter. Changes in Contract Estimates at Completion For over time contracts using the cost-to-cost method, the Company has an Estimate at Completion (“EAC”) process in which management reviews the progress and execution of our performance obligations. This EAC process requires management judgment relative to assessing risks, estimating contract revenue, determining reasonably dependable cost estimates, and making assumptions for schedule and technical issues. The majority of revenue recognized over time uses an EAC process. Since certain contracts extend over a long period of time, the impact of revisions in cost and revenue estimates during the progress of work may adjust the current period earnings through a cumulative catch-up basis. This method recognizes, in the current period, the cumulative effect of the changes on current and prior quarters. Additionally, if the current contract estimate indicates a loss, a provision is made for the total anticipated loss in the period that it becomes evident. Contract cost and revenue estimates for significant contracts are generally reviewed and reassessed quarterly. The net aggregate effects of these changes in estimates on contracts accounted for under the cost-to-cost method in the first six months of 2024 was $2.1 million of favorable operating income compared with $0.5 million of unfavorable operating income in the first six months of 2023. None of the effects of changes in estimates on any individual contract were material to the consolidated statements of income (loss) for any period presented.

Goodwill and Acquired Intangibl

Goodwill and Acquired Intangible Assets	6 Months Ended
Goodwill and Acquired Intangible Assets	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Acquired Intangible Assets	Goodwill and Acquired Intangible Assets Goodwill The carrying value of goodwill by segment was as follows (in millions): Digital Imaging Instrumentation Aerospace and Defense Electronics Engineered Systems Total Balance at December 31, 2023 $ 6,877.0 $ 944.8 $ 163.4 $ 17.6 $ 8,002.8 Current year acquisitions 63.8 23.3 — — 87.1 Foreign currency changes and other (42.0) (7.5) (0.2) — (49.7) Balance at June 30, 2024 $ 6,898.8 $ 960.6 $ 163.2 $ 17.6 $ 8,040.2 Acquired intangible assets (in millions): June 30, 2024 December 31, 2023 Gross carrying amount Accumulated amortization Net carrying amount Gross carrying amount Accumulated amortization Net carrying amount Proprietary technology $ 1,686.9 $ 730.0 $ 956.9 $ 1,696.6 $ 663.0 $ 1,033.6 Customer list/relationships 609.0 236.5 372.5 609.5 219.4 390.1 Patents 0.6 0.6 — 0.6 0.6 — Non-compete agreements 0.9 0.9 — 0.9 0.9 — Trademarks 12.2 6.6 5.6 10.2 5.8 4.4 Backlog 16.3 16.3 — 16.4 16.4 — Total intangibles subject to amortization 2,325.9 990.9 1,335.0 2,334.2 906.1 1,428.1 Intangibles not subject to amortization: Trademarks 847.9 — 847.9 850.0 — 850.0 Total acquired intangible assets $ 3,173.8 $ 990.9 $ 2,182.9 $ 3,184.2 $ 906.1 $ 2,278.1 An evaluation of the carrying value of goodwill and indefinite-lived intangibles is required to be performed on an annual basis and on an interim basis if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying value. Based on the results of the Company’s annual assessment in the fourth quarter of 2023, all reporting units with the exception of the FLIR reporting unit had estimated fair values that exceeded their respective carrying value by more than 100%. At the assessment date in the fourth quarter of 2023, the estimated fair value of the FLIR reporting unit exceeded its carrying value by approximately $460 million or 6%, and the FLIR reporting unit had $5,832.4 million of goodwill at the prior year assessment date. As of June 30, 2024, the FLIR reporting unit had $5,850.8 million of goodwill, with the change in value from the prior year assessment date related to the impact of foreign currency translation. Although the assumptions used in the Company’s prior year discounted cash flow model and market approach are based on assumptions that are considered reasonable by management and consistent with the plans and estimates management uses to operate the underlying businesses, there is significant judgment in determining the expected results of the FLIR reporting unit. Changes in forecast estimates or the application of alternative assumptions could produce significantly different results. The discount rate, which is consistent with a weighted average cost of capital that is likely to be expected by a market participant, is based upon industry required rates of return, including consideration of both debt and equity components of the capital structure. Although no impairment existed for the FLIR reporting unit as of the prior year assessment date, a non-cash impairment of goodwill could result from a number of circumstances, including different assumptions used in determining the fair value of the reporting unit, changes to customer spending priorities, or a sharp increase in interest rates without a corresponding increase in future net sales. For all reporting units, including the FLIR reporting unit, there have been no events or changes in circumstances which indicate an interim impairment review is required in 2024. The Company will perform its annual analysis during the fourth quarter of 2024. Based on the results of the Company’s annual assessment in the fourth quarter of 2023, the estimated fair value of all material indefinite-lived trademarks, with the exception of the FLIR indefinite-lived trademark, significantly exceeded their respective carrying value. Trademarks of recently acquired businesses generally represent a higher inherent risk of impairment, which typically decreases as the businesses are integrated into the Company. At the prior year annual assessment date, the FLIR indefinite-lived trademark had a carrying value of $685.3 million and a fair value of $694.9 million. The most significant assumptions utilized in the determination of the fair value of the FLIR trademark are the net sales growth rates (including residual growth rates), discount rate and royalty rate. Although the FLIR sales forecasts are based on assumptions that are considered reasonable by management and consistent with the plans and estimates management uses to operate the underlying businesses, there is significant judgment in determining the expected results of the FLIR business. Changes in sales forecast estimates or the application of alternative assumptions could produce significantly different results. The discount rate, which is consistent with a weighted average cost of capital that is likely to be expected by a market participant, is based upon industry required rates of return, including consideration of both debt and equity components of the capital structure. The royalty rate was driven by historical and estimated future profitability of the underlying FLIR business, and the royalty rate assumption was consistent with assumptions used by the Company as part of the purchase price allocation of FLIR in 2021. The royalty rate may be impacted by significant adverse changes in long-term operating margins. Although no impairment exists for the FLIR trademark, a non-cash impairment of the trademark could result from a number of circumstances, including different assumptions used in determining the fair value of the trademark, changes to customer spending priorities, or a sharp increase in interest rates without a corresponding increase in future net sales. For all indefinite-lived trademarks, including the FLIR trademark, there have been no events or changes in circumstances which indicate an interim impairment review is required in 2024. The Company will perform its annual analysis during the fourth quarter of 2024.

Supplemental Balance Sheet Info

Supplemental Balance Sheet Information	6 Months Ended
Supplemental Balance Sheet Information	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Supplemental Balance Sheet Information	Supplemental Balance Sheet Information Cash Equivalents The Company had $48.8 million and $265.1 million of cash equivalents at June 30, 2024 and December 31, 2023, respectively. The Company has categorized its cash equivalents as a Level 1 financial asset, measured at fair value based on quoted prices in active markets of identical assets. Accounts Receivable, net Accounts receivable is presented net of an allowance for doubtful accounts of $12.4 million at June 30, 2024 and $11.5 million at December 31, 2023. Inventories, net Inventories are stated at current cost, net of reserves for excess, slow moving and obsolete inventory. Inventories are primarily valued under the FIFO method or average cost method. Inventory balances are summarized as follows (in millions): Balance at June 30, 2024 December 31, 2023 Raw materials and supplies $ 581.3 $ 560.6 Work in process 209.9 184.8 Finished goods 174.5 172.3 Total inventories, net $ 965.7 $ 917.7 Product Warranty Costs Some of the Company’s products are subject to specified warranties, and the Company provides for the estimated cost of product warranties. The adequacy of the warranty reserve is assessed regularly, and the reserve is adjusted as necessary based on a review of historic warranty experience with respect to the applicable business or products, as well as the length and actual terms of the warranties. The warranty reserve is included in current accrued liabilities and other long-term liabilities on the condensed consolidated balance sheet. Six Months Warranty Reserve (in millions): 2024 2023 Balance at beginning of year $ 49.1 $ 50.3 Product warranty expense 13.7 8.2 Deductions (14.9) (7.5) Acquisition 0.4 — Balance at end of period $ 48.3 $ 51.0

Long-Term Debt

Long-Term Debt	6 Months Ended
Long-Term Debt	Jun. 30, 2024
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Balance at Long-Term Debt (in millions): June 30, 2024 December 31, 2023 $1.20 billion credit facility due June 2029 $ — $ — Term loan due October 2024, variable rate of 6.69% at June 30, 2024 and 6.71% at December 31, 2023, swapped to a Euro fixed rate of 0.61% 150.0 150.0 1.60% Fixed Rate Senior Notes due April 2026 450.0 450.0 2.25% Fixed Rate Senior Notes due April 2028 700.0 700.0 2.50% Fixed Rate Senior Notes due August 2030 485.0 485.0 2.75% Fixed Rate Senior Notes due April 2031 1,030.0 1,030.0 0.95% Fixed Rate Senior Notes due and repaid April 2024 — 450.0 Other debt 1.4 1.0 Debt discount and debt issuance costs (19.0) (21.1) Total debt, net 2,797.4 3,244.9 Less: Current portion of long-term debt (150.5) (600.1) Total long-term debt, net of current portion $ 2,646.9 $ 2,644.8 At June 30, 2024, $1,177.7 million was available under the $1.20 billion credit facility, after a reduction of $22.3 million in outstanding letters of credit. The Company’s bank credit agreements requires it to comply with various financial and operating covenants and at June 30, 2024, the Company was in compliance with these covenants. During the second quarter of 2024, the Company made a $450 million debt maturity payment on the Senior Notes due April 2024. Teledyne estimates the fair value of its long-term debt based on debt of similar type, rating and maturity and at comparable interest rates. The Company estimates the fair value of long-term debt by using Level 2 inputs in the fair value hierarchy which is based on observable market data. As of June 30, 2024 and December 31, 2023, the aggregate fair values of our borrowings were $2,493.2 million and $2,965.3 million, respectively, and the carrying values were $2,816.4 million and $3,266.0 million, respectively.

Income Taxes

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The income tax provision is calculated using an estimated annual effective tax rate, based upon estimates of annual income, permanent items, statutory tax rates and planned tax strategies in the various jurisdictions in which we operate except that certain loss jurisdictions and discrete items, such as the resolution of uncertain tax positions and stock-based accounting income tax benefits, are treated separately. Second Quarter Six Months (Dollars in millions) 2024 2023 2024 2023 Provision (benefit) for income taxes (a) $ 51.4 $ 49.4 $ 97.8 $ 94.3 Income (loss) before income taxes $ 231.7 $ 234.9 $ 457.2 $ 458.6 Effective tax rate 22.2% 21.0% 21.4% 20.6% (a) The second quarter of 2024 includes net discrete income tax benefits of $0.7 million and the first six months of 2024 includes net discrete income tax benefits of $5.1 million, respectively. The second quarter of 2023 includes net discrete income tax benefits of $1.4 million and the first six months of 2023 includes net discrete income tax benefits of $8.0 million, respectively. Numerous foreign jurisdictions have enacted or are in the process of enacting legislation to adopt a minimum effective tax rate described in the Global Anti-Base Erosion, or Pillar Two, model rules issued by the Organization for Economic Co-operation and Development (“OECD”). A minimum effective tax rate of 15% would apply to multinational companies with consolidated revenue above €750 million. Under the Pillar Two rules, a company is required to determine a combined effective tax rate for all entities located in a jurisdiction. If the jurisdictional effective tax rate determined under the Pillar Two is less than 15%, a top-up tax will be due to bring the jurisdictional effective tax rate up to 15%. The Company is continuing to monitor the implementation of Pillar Two by individual countries and the potential effects of Pillar Two on our business. The Company does not expect the provisions effective in 2024 will have a materially adverse impact on its results of operations, financial position or cash flows. The Inflation Reduction Act of 2022 (“IRA”) levies a 1% excise tax on net stock repurchases after December 31, 2022. If the Company were to repurchase shares, the excise tax would be recorded as a cost of acquiring treasury stock and is not material. Additionally, the IRA imposes a 15% corporate alternative minimum tax (“CAMT”) for tax years beginning after December 31, 2022. The Company does not expect the CAMT to have a material impact on its results of operations or financial position.

Pension Plans

Pension Plans	6 Months Ended
Pension Plans	Jun. 30, 2024
Retirement Benefits [Abstract]
Pension Plans	Pension Plans Second Quarter Six Months 2024 2023 2024 2023 Service cost — benefits earned during the period (in millions) $ 1.5 $ 1.5 $ 3.0 $ 3.0 Pension non-service cost (income) (in millions): Interest cost on benefit obligation $ 8.1 $ 8.4 $ 16.3 $ 16.8 Expected return on plan assets (13.5) (13.5) (27.1) (27.1) Amortization of net prior service cost (income) (0.2) (0.4) (0.4) (0.9) Amortization of net actuarial loss (gain) 2.9 2.6 5.8 5.0 Pension non-service cost (income) $ (2.7) $ (2.9) $ (5.4) $ (6.2)

Stock-based Compensation

Stock-based Compensation	6 Months Ended
Stock-based Compensation	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Stock-based Compensation	Stock-based Compensation Teledyne has long-term incentive plans pursuant to which it has granted non-qualified stock options, restricted stock awards and restricted stock units. The Company also has non-employee director stock compensation plans, pursuant to which common stock, stock options and restricted stock units have been issued to its directors. The Company issues shares of common stock upon the exercise of stock options. In 2024, the Company began using the Black-Scholes option pricing model to determine the fair value of stock options. The adoption of the Black-Scholes option pricing model was driven by a review of option exercise history, which more closely aligned with the methodology of the Black-Scholes option pricing model, and the adoption of the Black-Scholes option pricing model did not materially change the grant-date fair value calculation. Stock-based compensation expense was $9.3 million and $21.3 million for the second quarter and first six months of 2024, respectively, and $8.4 million and $16.3 million for the second quarter and first six months of 2023, respectively. Stock option activity for the second quarter and first six months of 2024 is as follows: Second Quarter Six Months Shares Weighted Average Exercise Price Shares Weighted Average Beginning balance 1,312,665 $ 267.47 1,337,972 $ 223.43 Granted — $ — 67,003 $ 441.98 Exercised (16,012) $ 149.11 (99,039) $ 115.76 Canceled (9,377) $ 376.60 (18,660) $ 382.80 Ending balance 1,287,276 $ 268.15 1,287,276 $ 268.15 Exercisable at end of period 1,086,068 $ 242.05 1,086,068 $ 242.05 Restricted stock activity for the second quarter and first six months of 2024 is as follows: Second Quarter Six Months Shares Weighted average fair value per share Shares Weighted average fair value per share Beginning balance 188,237 $ 394.81 123,089 $ 364.86 Granted 4,783 $ 364.21 94,050 $ 428.99 Vested (2,170) $ 405.09 (23,033) $ 384.35 Forfeited/canceled (1,882) $ 391.94 (5,138) $ 381.97 Ending balance 188,968 $ 383.89 188,968 $ 383.89

Earnings Per Share

Earnings Per Share	6 Months Ended
Earnings Per Share	Jun. 30, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The weighted average number of common shares used in the calculation of basic and diluted earnings per share consisted of the following (in millions): Second Quarter Six Months 2024 2023 2024 2023 Weighted average basic common shares outstanding 47.2 47.0 47.3 47.0 Effect of dilutive securities (primarily stock options) 0.6 0.9 0.6 0.9 Weighted average diluted common shares outstanding 47.8 47.9 47.9 47.9 For the second quarter and first six months of 2024 and 2023, the Company excluded approximately 0.2 million of stock options in the computation of diluted earnings per share because the effect of their inclusion would have been anti-dilutive. Stock Repurchases In April 2024, our Board of Directors approved a stock repurchase program authorizing the Company to repurchase up to $1.25 billion of Teledyne’s common stock. This authorization superseded prior open stock repurchase programs authorized by the Board of Directors. The newly authorized stock repurchase program does not have a stated expiration date. Shares may be repurchased from time to time in open market transactions at prevailing market prices, in privately negotiated transactions or via an accelerated stock repurchase program. Shares could be repurchased in a plan pursuant to Rule 10b5-1 of the Securities Exchange Act of 1934. The repurchase program is expected to remain open continuously, and the number of shares purchased will depend on a variety of factors, such as share price, levels of cash available, acquisitions and alternative investment opportunities available immediately or longer-term, and other regulatory, market or economic conditions. The Company currently intends to fund future share repurchases with cash on hand and available borrowings under the Company's credit facility. During the second quarter of 2024, the Company repurchased approximately 0.5 million shares for $193.8 million with a weighted-average price of $391.92 per share. Subsequent to the end of the second quarter of 2024, the Company repurchased approximately 0.2 million shares for $84.5 million with a weighted-average price of $394.43 per share.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
Accumulated Other Comprehensive Income (Loss)	Jun. 30, 2024
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) The changes in accumulated other comprehensive income (loss) ("AOCI") by component, net of tax, for the second quarter and six months ended June 30, 2024 and July 2, 2023 are as follows (in millions): Foreign Currency Translation Cash Flow Hedges and Other Pension and Postretirement Benefits Total Balance at March 31, 2024 $ (481.5) $ 4.0 $ (247.5) $ (725.0) Other comprehensive income (loss) before reclassifications (5.8) (2.0) — (7.8) Amounts reclassified from AOCI — (0.3) 2.1 1.8 Net other comprehensive income (loss) (5.8) (2.3) 2.1 (6.0) Balance at June 30, 2024 $ (487.3) $ 1.7 $ (245.4) $ (731.0) Foreign Currency Translation Cash Flow Hedges and Other Pension and Postretirement Benefits Total Balance at April 2, 2023 $ (476.6) $ 3.8 $ (254.0) $ (726.8) Other comprehensive income (loss) before reclassifications 12.3 3.0 — 15.3 Amounts reclassified from AOCI — (1.4) 0.9 (0.5) Net other comprehensive income (loss) 12.3 1.6 0.9 14.8 Balance at July 2, 2023 $ (464.3) $ 5.4 $ (253.1) $ (712.0) Foreign Currency Translation Cash Flow Hedges and Other Pension and Postretirement Benefits Total Balance at December 31, 2023 $ (392.7) $ 8.2 $ (249.6) $ (634.1) Other comprehensive income (loss) before reclassifications (94.6) 0.7 — (93.9) Amounts reclassified from AOCI — (7.2) 4.2 (3.0) Net other comprehensive income (loss) (94.6) (6.5) 4.2 (96.9) Balance at June 30, 2024 $ (487.3) $ 1.7 $ (245.4) $ (731.0) Foreign Currency Translation Cash Flow Hedges and Other Pension and Postretirement Benefits Total Balance at January 1, 2023 $ (472.3) $ 1.3 $ (255.5) $ (726.5) Other comprehensive income (loss) before reclassifications 8.0 12.8 — 20.8 Amounts reclassified from AOCI — (8.7) 2.4 (6.3) Net other comprehensive income (loss) 8.0 4.1 2.4 14.5 Balance at July 2, 2023 $ (464.3) $ 5.4 $ (253.1) $ (712.0) The reclassifications out of AOCI to net income for the second quarter ended June 30, 2024 and July 2, 2023 are as follows (in millions): Amount Reclassified from AOCI for the Quarter Ended Amount Reclassified from AOCI for the Quarter Ended Statement of Income (Loss) Presentation June 30, 2024 July 2, 2023 (Gain) loss on cash flow hedges: Gain recognized in income on derivatives $ (0.4) $ (1.8) See Note 13 Income tax impact 0.1 0.4 Provision for income taxes Total $ (0.3) $ (1.4) Amortization of defined benefit pension and postretirement plan items: Amortization of prior service cost $ (0.1) $ (0.4) Costs and expenses Amortization of net actuarial loss 2.9 1.8 Costs and expenses Total before tax 2.8 1.4 Income tax impact (0.7) (0.5) Provision for income taxes Total $ 2.1 $ 0.9 Amount Reclassified from AOCI for the Six Months Ended Amount Reclassified from AOCI for the Six Months Ended Statement of Income (Loss) Presentation June 30, 2024 July 2, 2023 (Gain) loss on cash flow hedges: Gain recognized in income on derivatives $ (9.7) $ (11.6) See Note 13 Income tax impact 2.5 2.9 Provision for income taxes Total $ (7.2) $ (8.7) Amortization of defined benefit pension and postretirement plan items: Amortization of prior service cost $ (0.2) $ (0.9) Costs and expenses Amortization of net actuarial loss 5.8 4.3 Costs and expenses Total before tax 5.6 3.4 Income tax impact (1.4) (1.0) Provision for income taxes Total $ 4.2 $ 2.4

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	6 Months Ended
Derivative Instruments and Hedging Activities	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities The Company's primary exposure to market risk relates to changes in foreign currency exchange rates and interest rates. The Company’s primary foreign currency risk management objective is to protect the U.S. dollar value of future cash flows and minimize the volatility of reported earnings. The Company does not use foreign currency forward contracts for speculative or trading purposes. The Company mitigates exposure to foreign currency exchange rates and interest rates primarily through the following: Mitigation Approach Quantitative Information on Approach The Company utilizes foreign currency forward contracts to reduce the volatility of cash flows primarily related to forecasted revenue and expenses denominated in Canadian dollars for our Canadian companies, and in British pounds for our U.K. companies. These contracts are designated and qualify as cash flow hedges. As of June 30, 2024, the Company had foreign currency forward contracts to buy Canadian dollars and to sell U.S. dollars totaling $98.5 million. These foreign currency forward contracts have maturities ranging from September 2024 to February 2026. As of June 30, 2024, the Company had foreign currency forward contracts to buy British pounds and to sell U.S. dollars totaling $8.3 million. These foreign currency forward contracts have maturities ranging from September 2024 to February 2025. The Company utilizes foreign currency forward contracts to mitigate foreign exchange rate risk associated with foreign currency denominated monetary assets and liabilities, including intercompany receivables and payables. These foreign currency forward contracts are not designated as accounting hedges. See Non-Designated Hedging Activities section below. The Company has converted a U.S. dollar denominated, variable rate debt obligation of a European subsidiary into euro fixed rate obligation using a receive float, pay fixed cross currency swap to reduce the variability of interest rates. This cross currency swap is designated as cash flow hedge. As of June 30, 2024, the Company has a cross currency swap outstanding with a notional amount of €156.0 million and $150.0 million that matures in October 2024. All derivative instruments are recorded on the condensed consolidated balance sheets at fair value. The accounting for gains and losses resulting from changes in fair value depends on the use of the derivative instrument and whether it is designated and qualifies for hedge accounting. Designated Hedging Activities For a derivative instrument designated as an accounting hedge of an anticipated transaction (a cash flow hedge), the change in the fair value is recorded on the condensed consolidated balance sheets in AOCI to the extent the derivative instrument is effective in mitigating the exposure related to the anticipated transaction. The amount recorded within AOCI is reclassified into earnings in the same period during which the underlying hedged transaction affects earnings. The effect of derivative instruments designated as cash flow hedges in the condensed consolidated financial statements for the second quarter and six months ended June 30, 2024 and July 2, 2023 was as follows (in millions): Second Quarter Six Months 2024 2023 2024 2023 Net gain (loss) recognized in AOCI - Foreign Exchange Contracts (a) $ 0.2 $ 3.1 $ 0.9 $ 16.8 Net gain (loss) reclassified from AOCI into revenue - Foreign Exchange Contracts (a) $ 0.2 $ (1.8) $ 1.0 $ (3.7) Net gain (loss) reclassified from AOCI into other income and expense, net - Foreign Exchange Contracts (b) $ 1.2 $ 0.6 $ 4.9 $ 10.7 Net gain (loss) reclassified from AOCI into interest expense - Foreign Exchange Contracts $ 2.0 $ 2.2 $ 3.9 $ 3.7 Net gain (loss) reclassified from AOCI into interest expense - Interest Rate Contracts $ — $ — $ — $ 0.6 (a) Effective portion, pre-tax (b) Amount reclassified to offset earnings impact of liability hedged by cross currency swap Net deferred gains recorded in AOCI for the forward contracts that will mature in the next twelve months total $0.1 million, net of taxes. These gains are expected to be offset by anticipated losses in the value of the forecasted underlying hedged item. Amounts related to the cross currency swap expected to be reclassified from AOCI into income in the next twelve months total $1.9 million. Non-Designated Hedging Activities For a derivative instrument that has not been designated as an accounting hedge, the change in the fair value is recognized immediately in earnings. As of June 30, 2024, the Company had foreign currency forward contracts not designated as accounting hedges primarily in the following types and pairs (in millions): Contracts to Buy Contracts to Sell Currency Amount Currency Amount Canadian Dollars $ 276.4 U.S. Dollars US$ 202.3 Danish Krone Kr. 167.4 U.S. Dollars US$ 24.4 Great Britain Pounds £ 6.4 Euros € 7.5 Great Britain Pounds £ 107.3 U.S. Dollars US$ 136.4 U.S. Dollars US$ 4.1 Euros € 4.1 Norwegian Krone kr 218.2 U.S. Dollars US$ 20.8 Swedish Krona kr 174.9 Euros € 15.3 Swedish Krona kr 467.6 U.S. Dollars US$ 44.3 The preceding table includes non-designated hedges derived from terms contained in previously designated cash flow hedges. The gains and losses on these derivatives instruments which are not designated as accounting hedges are intended to, at a minimum, partially offset the transaction gains and losses recognized in earnings. The effect of derivative instruments not designated as accounting hedges recognized in other income and expense for the second quarter and six months ended June 30, 2024 was expense of $2.8 million and $12.1 million, respectively. The effect of derivative instruments not designated as accounting hedges in other income and expense for the second quarter and six months ended July 2, 2023 was income of $2.0 million and $9.7 million, respectively. The income or expense was largely offset by losses or gains in the value of the underlying hedged item excluding the impact of forward points. Fair Value of Derivative Financial Instruments The fair values of the Company’s derivative instruments are presented below. All fair values for these derivative instruments were measured using Level 2 inputs in the fair value hierarchy (in millions): Asset/(Liability) Derivative Instruments Balance sheet location June 30, 2024 December 31, 2023 Derivatives designated as hedging instruments: Cash flow forward contracts Other current assets $ 0.4 $ 3.7 Cash flow forward contracts Other non-current assets 0.2 2.4 Cash flow forward contracts Other current liabilities (0.3) — Currency / interest rate contracts Other current assets (accrued interest) 0.1 0.1 Currency / interest rate contracts Other current liabilities (16.5) (21.3) Total derivatives designated as hedging instruments (16.1) (15.1) Derivatives not designated as hedging instruments: Non-designated forward contracts Other current assets 2.9 14.2 Non-designated forward contracts Accrued liabilities (5.0) (3.2) Total derivatives not designated as hedging instruments (2.1) 11.0 Total derivative instruments, net $ (18.2) $ (4.1)

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Trade Compliance Matters The Company has made voluntary disclosures to the U.S. Department of State and the U.S. Department of Commerce, including to the Bureau of Industry and Security (“BIS”) with respect to Teledyne FLIR shipments of products from non-U.S. jurisdictions which were not licensed due to an incorrect de minimis calculation methodology under the Export Administration Regulations. The Company has also made voluntary disclosures to export authorities in jurisdictions outside the U.S. for certain potential violations of local export laws. At this time, based on available information, we are unable to reasonably estimate the time it may take to resolve these matters or the amount or range of potential loss, penalty or other government action, if any, that may be incurred in connection with these matters. However, 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 the Company’s financial position, results of operations or cash flows in and following the period in which such outcome becomes estimable or known. Environmental Remediation Obligations At June 30, 2024, the Company’s reserves for environmental remediation obligations totaled $6.8 million, of which $3.1 million is included in current accrued liabilities. At December 31, 2023, the Company’s reserves for environmental remediation obligations totaled $5.4 million. The Company evaluates whether it may be able to recover a portion of future costs for environmental liabilities from its insurance carriers and from third parties. The timing of expenditures depends on a number of factors that vary by site, including the nature and extent of contamination, the number of potentially responsible parties, the timing of regulatory approvals, the complexity of the investigation and remediation, and the standards for remediation. The Company expects that it will pay the amounts recorded over many years and will complete remediation of all sites with which it has been identified in up to 30 years. Legal Matters

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended				6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Jun. 30, 2024	Mar. 31, 2024	Jul. 02, 2023	Apr. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 180.2	$ 178.5	$ 185.3	$ 178.7	$ 358.7	$ 364

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

General (Policies)

General (Policies)	6 Months Ended
General (Policies)	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared by Teledyne Technologies Incorporated (“Teledyne” or the “Company”) pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and disclosures normally included in notes to consolidated financial statements have been condensed or omitted pursuant to such rules and regulations, but resultant disclosures are in accordance with generally accepted accounting principles in the United States (“GAAP”) as they apply to interim reporting. The condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and the related notes in Teledyne’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023 (“2023 Form 10-K”). In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments (consisting of normal recurring adjustments) necessary to present fairly, in all material respects, Teledyne’s consolidated financial position as of June 30, 2024 and the consolidated results of operations, consolidated comprehensive income (loss) and consolidated cash flows for the second quarter and six months ended June 30, 2024. The results of operations and cash flows for the periods ended June 30, 2024 and cash flows for the six months ended June 30, 2024 are not necessarily indicative of the results of operations or cash flows to be expected for any subsequent quarter or the full fiscal year.
Recent Accounting Standards	Recent Accounting Standards In 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. A public entity should apply the amendments in this ASU retrospectively to all prior periods presented in the financial statements. The Company is evaluating the impact of adopting this guidance on its consolidated financial statements. 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.

Business Acquisitions (Tables)

Business Acquisitions (Tables)	6 Months Ended
Business Acquisitions (Tables)	Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Purchase Price Goodwill Acquired, and Intangible Assets Acquired for the Acquisitions	The following tables show the purchase price (net of cash acquired), goodwill acquired, and acquired intangible assets for these acquisitions (in millions): 2024 Acquisitions Acquisition Date Consideration Transferred (a) Goodwill Acquired Acquired Intangible Assets Adimec June 4, 2024 $ 88.1 $ 63.8 $ 17.9 Valeport April 10, 2024 35.5 23.3 7.8 $ 123.6 $ 87.1 $ 25.7 (a) Net of cash acquired; approximately 10% of the Valeport purchase price is payable in 2025 and included in the amount above 2023 Acquisitions Acquisition Date Consideration Transferred (a) Goodwill Acquired Acquired Intangible Assets Xena Networks October 13, 2023 $ 24.2 $ 21.1 $ 4.8 ChartWorld January 3, 2023 53.5 55.5 11.3 Total $ 77.7 $ 76.6 $ 16.1 (a) Net of cash acquired

Business Segments (Tables)

Business Segments (Tables)	6 Months Ended
Business Segments (Tables)	Jun. 30, 2024
Segment Reporting [Abstract]
Schedule of Net Sales and Operating Income by Segment	The following table presents net sales and operating income by segment (dollars in millions): Second Quarter % Six Months % 2024 2023 Change 2024 2023 Change Net sales (a): Digital Imaging $ 739.4 $ 793.3 (6.8) % $ 1,480.2 $ 1,565.8 (5.5) % Instrumentation 333.5 328.4 1.6 % 663.9 661.9 0.3 % Aerospace and Defense Electronics 194.4 186.0 4.5 % 380.1 359.2 5.8 % Engineered Systems 106.8 117.0 (8.7) % 200.0 221.1 (9.5) % Total net sales $ 1,374.1 $ 1,424.7 (3.6) % $ 2,724.2 $ 2,808.0 (3.0) % Operating income: Digital Imaging $ 113.5 $ 124.6 (8.9) % $ 227.3 $ 246.8 (7.9) % Instrumentation 87.2 81.4 7.1 % 173.2 162.1 6.8 % Aerospace and Defense Electronics 57.1 53.2 7.3 % 109.0 100.2 8.8 % Engineered Systems 7.5 11.5 (34.8) % 10.2 21.5 (52.6) % Corporate expense (18.3) (14.6) 25.3 % (38.4) (32.0) 20.0 % Operating income $ 247.0 $ 256.1 (3.6) % $ 481.3 $ 498.6 (3.5) % (a) Net sales exclude inter-segment sales of $8.5 million and $13.3 million for the second quarter and first six months of 2024, respectively, and $8.1 million and $14.3 million for the second quarter and first six months of 2023, respectively. Identifiable assets are those assets used in the operations of the segments. Corporate assets primarily consist of cash and cash equivalents, deferred taxes, net pension assets/liabilities and other assets (in millions): Identifiable assets: June 30, 2024 December 31, 2023 Digital Imaging $ 11,236.1 $ 11,382.2 Instrumentation 1,734.6 1,692.3 Aerospace and Defense Electronics 560.4 569.1 Engineered Systems 208.3 184.8 Corporate 481.7 699.5 Total identifiable assets $ 14,221.1 $ 14,527.9
Schedule of Sales by Product Line	The following table provides a summary of the net sales by product line for the Instrumentation segment (in millions): Second Quarter Six Months Instrumentation 2024 2023 2024 2023 Marine Instrumentation $ 147.8 $ 127.4 $ 295.6 $ 255.6 Environmental Instrumentation 113.5 115.3 224.6 233.2 Test and Measurement Instrumentation 72.2 85.7 143.7 173.1 Total $ 333.5 $ 328.4 $ 663.9 $ 661.9

Revenue Recognition and Contr_2

Revenue Recognition and Contract Balances (Tables)	6 Months Ended
Revenue Recognition and Contract Balances (Tables)	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	Second Quarter Ended June 30, 2024 Second Quarter Ended June 30, 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 $ 122.3 $ 617.1 $ 739.4 $ 325.3 $ 201.7 $ 136.5 $ 75.9 $ 739.4 Instrumentation 29.3 304.2 333.5 153.4 82.6 61.9 35.6 333.5 Aerospace and Defense Electronics 60.8 133.6 194.4 132.9 33.4 20.1 8.0 194.4 Engineered Systems 95.7 11.1 106.8 106.0 — 0.3 0.5 106.8 Total $ 308.1 $ 1,066.0 $ 1,374.1 $ 717.6 $ 317.7 $ 218.8 $ 120.0 $ 1,374.1 (a) U.S. Government sales include sales as a prime contractor or subcontractor. (b) Primarily commercial sales (c) Geographic region by destination Six Months Ended June 30, 2024 Six Months Ended June 30, 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 $ 253.0 $ 1,227.2 $ 1,480.2 $ 659.0 $ 402.0 $ 270.7 $ 148.5 $ 1,480.2 Instrumentation 62.7 601.2 663.9 298.0 179.5 122.0 64.4 663.9 Aerospace and Defense Electronics 119.6 260.5 380.1 256.6 67.6 38.7 17.2 380.1 Engineered Systems 175.5 24.5 200.0 198.8 — 0.4 0.8 200.0 Total $ 610.8 $ 2,113.4 $ 2,724.2 $ 1,412.4 $ 649.1 $ 431.8 $ 230.9 $ 2,724.2 (a) U.S. Government sales include sales as a prime contractor or subcontractor. (b) Primarily commercial sales (c) Geographic region by destination Second Quarter Ended July 2, 2023 Second Quarter Ended July 2, 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 $ 131.3 $ 662.0 $ 793.3 $ 356.4 $ 207.3 $ 152.4 $ 77.2 $ 793.3 Instrumentation 21.3 307.1 328.4 139.4 95.2 64.6 29.2 328.4 Aerospace and Defense Electronics 61.0 125.0 186.0 126.0 36.2 15.5 8.3 186.0 Engineered Systems 103.2 13.8 117.0 114.4 — 0.4 2.2 117.0 Total $ 316.8 $ 1,107.9 $ 1,424.7 $ 736.2 $ 338.7 $ 232.9 $ 116.9 $ 1,424.7 (a) U.S. Government sales include sales as a prime contractor or subcontractor. (b) Primarily commercial sales (c) Geographic region by destination Six Months Ended July 2, 2023 Six Months Ended July 2, 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 $ 261.6 $ 1,304.2 $ 1,565.8 $ 690.8 $ 404.6 $ 310.8 $ 159.6 $ 1,565.8 Instrumentation 44.3 617.6 $ 661.9 277.4 192.4 132.1 60.0 661.9 Aerospace and Defense Electronics 125.7 233.5 $ 359.2 246.1 65.7 32.5 14.9 359.2 Engineered Systems 196.5 24.6 $ 221.1 217.7 — 0.6 2.8 221.1 Total $ 628.1 $ 2,179.9 $ 2,808.0 $ 1,432.0 $ 662.7 $ 476.0 $ 237.3 $ 2,808.0 (a) U.S. Government sales include sales as a prime contractor or subcontractor. (b) Primarily commercial sales (c) Geographic region by destination
Schedule of Contract Liabilities	Balance at Contract Liabilities by Balance Sheet Location (in millions) June 30, 2024 December 31, 2023 Accrued liabilities $ 311.2 $ 241.1 Other long-term liabilities 29.5 25.5 Total contract liabilities $ 340.7 $ 266.6

Goodwill and Acquired Intangi_2

Goodwill and Acquired Intangible Assets (Tables)	6 Months Ended
Goodwill and Acquired Intangible Assets (Tables)	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The carrying value of goodwill by segment was as follows (in millions): Digital Imaging Instrumentation Aerospace and Defense Electronics Engineered Systems Total Balance at December 31, 2023 $ 6,877.0 $ 944.8 $ 163.4 $ 17.6 $ 8,002.8 Current year acquisitions 63.8 23.3 — — 87.1 Foreign currency changes and other (42.0) (7.5) (0.2) — (49.7) Balance at June 30, 2024 $ 6,898.8 $ 960.6 $ 163.2 $ 17.6 $ 8,040.2
Schedule of Carrying Value of Acquired Finite-Lived Intangible Assets	Acquired intangible assets (in millions): June 30, 2024 December 31, 2023 Gross carrying amount Accumulated amortization Net carrying amount Gross carrying amount Accumulated amortization Net carrying amount Proprietary technology $ 1,686.9 $ 730.0 $ 956.9 $ 1,696.6 $ 663.0 $ 1,033.6 Customer list/relationships 609.0 236.5 372.5 609.5 219.4 390.1 Patents 0.6 0.6 — 0.6 0.6 — Non-compete agreements 0.9 0.9 — 0.9 0.9 — Trademarks 12.2 6.6 5.6 10.2 5.8 4.4 Backlog 16.3 16.3 — 16.4 16.4 — Total intangibles subject to amortization 2,325.9 990.9 1,335.0 2,334.2 906.1 1,428.1 Intangibles not subject to amortization: Trademarks 847.9 — 847.9 850.0 — 850.0 Total acquired intangible assets $ 3,173.8 $ 990.9 $ 2,182.9 $ 3,184.2 $ 906.1 $ 2,278.1
Schedule of Carrying Value of Acquired Indefinite-Lived Intangible Assets	Acquired intangible assets (in millions): June 30, 2024 December 31, 2023 Gross carrying amount Accumulated amortization Net carrying amount Gross carrying amount Accumulated amortization Net carrying amount Proprietary technology $ 1,686.9 $ 730.0 $ 956.9 $ 1,696.6 $ 663.0 $ 1,033.6 Customer list/relationships 609.0 236.5 372.5 609.5 219.4 390.1 Patents 0.6 0.6 — 0.6 0.6 — Non-compete agreements 0.9 0.9 — 0.9 0.9 — Trademarks 12.2 6.6 5.6 10.2 5.8 4.4 Backlog 16.3 16.3 — 16.4 16.4 — Total intangibles subject to amortization 2,325.9 990.9 1,335.0 2,334.2 906.1 1,428.1 Intangibles not subject to amortization: Trademarks 847.9 — 847.9 850.0 — 850.0 Total acquired intangible assets $ 3,173.8 $ 990.9 $ 2,182.9 $ 3,184.2 $ 906.1 $ 2,278.1

Supplemental Balance Sheet In_2

Supplemental Balance Sheet Information (Tables)	6 Months Ended
Supplemental Balance Sheet Information (Tables)	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Inventory	Inventory balances are summarized as follows (in millions): Balance at June 30, 2024 December 31, 2023 Raw materials and supplies $ 581.3 $ 560.6 Work in process 209.9 184.8 Finished goods 174.5 172.3 Total inventories, net $ 965.7 $ 917.7
Schedule of Changes in Product Warranty Reserve	The warranty reserve is included in current accrued liabilities and other long-term liabilities on the condensed consolidated balance sheet. Six Months Warranty Reserve (in millions): 2024 2023 Balance at beginning of year $ 49.1 $ 50.3 Product warranty expense 13.7 8.2 Deductions (14.9) (7.5) Acquisition 0.4 — Balance at end of period $ 48.3 $ 51.0

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
Long-Term Debt (Tables)	Jun. 30, 2024
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	Balance at Long-Term Debt (in millions): June 30, 2024 December 31, 2023 $1.20 billion credit facility due June 2029 $ — $ — Term loan due October 2024, variable rate of 6.69% at June 30, 2024 and 6.71% at December 31, 2023, swapped to a Euro fixed rate of 0.61% 150.0 150.0 1.60% Fixed Rate Senior Notes due April 2026 450.0 450.0 2.25% Fixed Rate Senior Notes due April 2028 700.0 700.0 2.50% Fixed Rate Senior Notes due August 2030 485.0 485.0 2.75% Fixed Rate Senior Notes due April 2031 1,030.0 1,030.0 0.95% Fixed Rate Senior Notes due and repaid April 2024 — 450.0 Other debt 1.4 1.0 Debt discount and debt issuance costs (19.0) (21.1) Total debt, net 2,797.4 3,244.9 Less: Current portion of long-term debt (150.5) (600.1) Total long-term debt, net of current portion $ 2,646.9 $ 2,644.8

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
Income Taxes (Tables)	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Schedule of Income Tax Provision and Effective Tax Rate	Second Quarter Six Months (Dollars in millions) 2024 2023 2024 2023 Provision (benefit) for income taxes (a) $ 51.4 $ 49.4 $ 97.8 $ 94.3 Income (loss) before income taxes $ 231.7 $ 234.9 $ 457.2 $ 458.6 Effective tax rate 22.2% 21.0% 21.4% 20.6% (a) The second quarter of 2024 includes net discrete income tax benefits of $0.7 million and the first six months of 2024 includes net discrete income tax benefits of $5.1 million, respectively. The second quarter of 2023 includes net discrete income tax benefits of $1.4 million and the first six months of 2023 includes net discrete income tax benefits of $8.0 million, respectively.

Pension Plans (Tables)

Pension Plans (Tables)	6 Months Ended
Pension Plans (Tables)	Jun. 30, 2024
Retirement Benefits [Abstract]
Schedule of Defined Benefit Pension Plans and Postretirement Benefit Plans	Second Quarter Six Months 2024 2023 2024 2023 Service cost — benefits earned during the period (in millions) $ 1.5 $ 1.5 $ 3.0 $ 3.0 Pension non-service cost (income) (in millions): Interest cost on benefit obligation $ 8.1 $ 8.4 $ 16.3 $ 16.8 Expected return on plan assets (13.5) (13.5) (27.1) (27.1) Amortization of net prior service cost (income) (0.2) (0.4) (0.4) (0.9) Amortization of net actuarial loss (gain) 2.9 2.6 5.8 5.0 Pension non-service cost (income) $ (2.7) $ (2.9) $ (5.4) $ (6.2)

Stock-based Compensation (Table

Stock-based Compensation (Tables)	6 Months Ended
Stock-based Compensation (Tables)	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Stock Option Transactions for Employee Stock Option Plans	Stock option activity for the second quarter and first six months of 2024 is as follows: Second Quarter Six Months Shares Weighted Average Exercise Price Shares Weighted Average Beginning balance 1,312,665 $ 267.47 1,337,972 $ 223.43 Granted — $ — 67,003 $ 441.98 Exercised (16,012) $ 149.11 (99,039) $ 115.76 Canceled (9,377) $ 376.60 (18,660) $ 382.80 Ending balance 1,287,276 $ 268.15 1,287,276 $ 268.15 Exercisable at end of period 1,086,068 $ 242.05 1,086,068 $ 242.05
Schedule of Restricted Stock Activity	Restricted stock activity for the second quarter and first six months of 2024 is as follows: Second Quarter Six Months Shares Weighted average fair value per share Shares Weighted average fair value per share Beginning balance 188,237 $ 394.81 123,089 $ 364.86 Granted 4,783 $ 364.21 94,050 $ 428.99 Vested (2,170) $ 405.09 (23,033) $ 384.35 Forfeited/canceled (1,882) $ 391.94 (5,138) $ 381.97 Ending balance 188,968 $ 383.89 188,968 $ 383.89

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
Earnings Per Share (Tables)	Jun. 30, 2024
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Earnings per Share	The weighted average number of common shares used in the calculation of basic and diluted earnings per share consisted of the following (in millions): Second Quarter Six Months 2024 2023 2024 2023 Weighted average basic common shares outstanding 47.2 47.0 47.3 47.0 Effect of dilutive securities (primarily stock options) 0.6 0.9 0.6 0.9 Weighted average diluted common shares outstanding 47.8 47.9 47.9 47.9

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
Accumulated Other Comprehensive Income (Loss) (Tables)	Jun. 30, 2024
Equity [Abstract]
Schedule of Changes in AOCI by Component	The changes in accumulated other comprehensive income (loss) ("AOCI") by component, net of tax, for the second quarter and six months ended June 30, 2024 and July 2, 2023 are as follows (in millions): Foreign Currency Translation Cash Flow Hedges and Other Pension and Postretirement Benefits Total Balance at March 31, 2024 $ (481.5) $ 4.0 $ (247.5) $ (725.0) Other comprehensive income (loss) before reclassifications (5.8) (2.0) — (7.8) Amounts reclassified from AOCI — (0.3) 2.1 1.8 Net other comprehensive income (loss) (5.8) (2.3) 2.1 (6.0) Balance at June 30, 2024 $ (487.3) $ 1.7 $ (245.4) $ (731.0) Foreign Currency Translation Cash Flow Hedges and Other Pension and Postretirement Benefits Total Balance at April 2, 2023 $ (476.6) $ 3.8 $ (254.0) $ (726.8) Other comprehensive income (loss) before reclassifications 12.3 3.0 — 15.3 Amounts reclassified from AOCI — (1.4) 0.9 (0.5) Net other comprehensive income (loss) 12.3 1.6 0.9 14.8 Balance at July 2, 2023 $ (464.3) $ 5.4 $ (253.1) $ (712.0) Foreign Currency Translation Cash Flow Hedges and Other Pension and Postretirement Benefits Total Balance at December 31, 2023 $ (392.7) $ 8.2 $ (249.6) $ (634.1) Other comprehensive income (loss) before reclassifications (94.6) 0.7 — (93.9) Amounts reclassified from AOCI — (7.2) 4.2 (3.0) Net other comprehensive income (loss) (94.6) (6.5) 4.2 (96.9) Balance at June 30, 2024 $ (487.3) $ 1.7 $ (245.4) $ (731.0) Foreign Currency Translation Cash Flow Hedges and Other Pension and Postretirement Benefits Total Balance at January 1, 2023 $ (472.3) $ 1.3 $ (255.5) $ (726.5) Other comprehensive income (loss) before reclassifications 8.0 12.8 — 20.8 Amounts reclassified from AOCI — (8.7) 2.4 (6.3) Net other comprehensive income (loss) 8.0 4.1 2.4 14.5 Balance at July 2, 2023 $ (464.3) $ 5.4 $ (253.1) $ (712.0)
Schedule of Reclassification out of Accumulated Other Comprehensive Income	The reclassifications out of AOCI to net income for the second quarter ended June 30, 2024 and July 2, 2023 are as follows (in millions): Amount Reclassified from AOCI for the Quarter Ended Amount Reclassified from AOCI for the Quarter Ended Statement of Income (Loss) Presentation June 30, 2024 July 2, 2023 (Gain) loss on cash flow hedges: Gain recognized in income on derivatives $ (0.4) $ (1.8) See Note 13 Income tax impact 0.1 0.4 Provision for income taxes Total $ (0.3) $ (1.4) Amortization of defined benefit pension and postretirement plan items: Amortization of prior service cost $ (0.1) $ (0.4) Costs and expenses Amortization of net actuarial loss 2.9 1.8 Costs and expenses Total before tax 2.8 1.4 Income tax impact (0.7) (0.5) Provision for income taxes Total $ 2.1 $ 0.9 Amount Reclassified from AOCI for the Six Months Ended Amount Reclassified from AOCI for the Six Months Ended Statement of Income (Loss) Presentation June 30, 2024 July 2, 2023 (Gain) loss on cash flow hedges: Gain recognized in income on derivatives $ (9.7) $ (11.6) See Note 13 Income tax impact 2.5 2.9 Provision for income taxes Total $ (7.2) $ (8.7) Amortization of defined benefit pension and postretirement plan items: Amortization of prior service cost $ (0.2) $ (0.9) Costs and expenses Amortization of net actuarial loss 5.8 4.3 Costs and expenses Total before tax 5.6 3.4 Income tax impact (1.4) (1.0) Provision for income taxes Total $ 4.2 $ 2.4

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	6 Months Ended
Derivative Instruments and Hedging Activities (Tables)	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Effect of Derivative Instruments Designated as Cash Flow Hedges	The effect of derivative instruments designated as cash flow hedges in the condensed consolidated financial statements for the second quarter and six months ended June 30, 2024 and July 2, 2023 was as follows (in millions): Second Quarter Six Months 2024 2023 2024 2023 Net gain (loss) recognized in AOCI - Foreign Exchange Contracts (a) $ 0.2 $ 3.1 $ 0.9 $ 16.8 Net gain (loss) reclassified from AOCI into revenue - Foreign Exchange Contracts (a) $ 0.2 $ (1.8) $ 1.0 $ (3.7) Net gain (loss) reclassified from AOCI into other income and expense, net - Foreign Exchange Contracts (b) $ 1.2 $ 0.6 $ 4.9 $ 10.7 Net gain (loss) reclassified from AOCI into interest expense - Foreign Exchange Contracts $ 2.0 $ 2.2 $ 3.9 $ 3.7 Net gain (loss) reclassified from AOCI into interest expense - Interest Rate Contracts $ — $ — $ — $ 0.6 (a) Effective portion, pre-tax (b) Amount reclassified to offset earnings impact of liability hedged by cross currency swap
Schedule of Notional Amounts of Outstanding Foreign Currency Contracts	As of June 30, 2024, the Company had foreign currency forward contracts not designated as accounting hedges primarily in the following types and pairs (in millions): Contracts to Buy Contracts to Sell Currency Amount Currency Amount Canadian Dollars $ 276.4 U.S. Dollars US$ 202.3 Danish Krone Kr. 167.4 U.S. Dollars US$ 24.4 Great Britain Pounds £ 6.4 Euros € 7.5 Great Britain Pounds £ 107.3 U.S. Dollars US$ 136.4 U.S. Dollars US$ 4.1 Euros € 4.1 Norwegian Krone kr 218.2 U.S. Dollars US$ 20.8 Swedish Krona kr 174.9 Euros € 15.3 Swedish Krona kr 467.6 U.S. Dollars US$ 44.3
Schedule of Fair Values of Derivative Financial Instruments	The fair values of the Company’s derivative instruments are presented below. All fair values for these derivative instruments were measured using Level 2 inputs in the fair value hierarchy (in millions): Asset/(Liability) Derivative Instruments Balance sheet location June 30, 2024 December 31, 2023 Derivatives designated as hedging instruments: Cash flow forward contracts Other current assets $ 0.4 $ 3.7 Cash flow forward contracts Other non-current assets 0.2 2.4 Cash flow forward contracts Other current liabilities (0.3) — Currency / interest rate contracts Other current assets (accrued interest) 0.1 0.1 Currency / interest rate contracts Other current liabilities (16.5) (21.3) Total derivatives designated as hedging instruments (16.1) (15.1) Derivatives not designated as hedging instruments: Non-designated forward contracts Other current assets 2.9 14.2 Non-designated forward contracts Accrued liabilities (5.0) (3.2) Total derivatives not designated as hedging instruments (2.1) 11.0 Total derivative instruments, net $ (18.2) $ (4.1)

Business Acquisitions - Narrati

Business Acquisitions - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Apr. 02, 2023	Jun. 30, 2024	Jul. 02, 2023	Dec. 31, 2023
Business Acquisition [Line Items]
Consideration transferred, net of cash acquired			$ 123.6	$ 53.5
Adimec Holding B.V
Business Acquisition [Line Items]
Consideration transferred, net of cash acquired	$ 88.1		88.1
Valeport
Business Acquisition [Line Items]
Consideration transferred, net of cash acquired	$ 35.5		$ 35.5
Purchase price payable	10%		10%
Xena Networks
Business Acquisition [Line Items]
Consideration transferred, net of cash acquired					$ 24.2
ChartWorld
Business Acquisition [Line Items]
Consideration transferred, net of cash acquired		$ 53.5			$ 53.5

Business Acquisitions - Schedul

Business Acquisitions - Schedule of Purchase Price Goodwill Acquired, and Intangible Assets Acquired for the Acquisitions (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Apr. 02, 2023	Jun. 30, 2024	Jul. 02, 2023	Dec. 31, 2023
Business Acquisition [Line Items]
Consideration Transferred			$ 123.6	$ 53.5
Goodwill Acquired			87.1
Total
Business Acquisition [Line Items]
Consideration Transferred			123.6		$ 77.7
Goodwill Acquired			87.1		76.6
Acquired Intangible Assets	$ 25.7		25.7		16.1
Adimec Holding B.V
Business Acquisition [Line Items]
Consideration Transferred	88.1		88.1
Goodwill Acquired			63.8
Acquired Intangible Assets	17.9		17.9
Valeport
Business Acquisition [Line Items]
Consideration Transferred	35.5		35.5
Goodwill Acquired			23.3
Acquired Intangible Assets	$ 7.8		$ 7.8
Xena Networks
Business Acquisition [Line Items]
Consideration Transferred					24.2
Goodwill Acquired					21.1
Acquired Intangible Assets					4.8
ChartWorld
Business Acquisition [Line Items]
Consideration Transferred		$ 53.5			53.5
Goodwill Acquired					55.5
Acquired Intangible Assets					$ 11.3

Business Segments - Narrative (

Business Segments - Narrative (Details)	6 Months Ended
Business Segments - Narrative (Details)	Jun. 30, 2024 product_line segment
Segment Reporting [Abstract]
Number of reportable segments \| segment	4
Digital Imaging
Revenue from External Customer [Line Items]
Number of product lines	1
Instrumentation
Revenue from External Customer [Line Items]
Number of product lines	3
Aerospace and Defense Electronics
Revenue from External Customer [Line Items]
Number of product lines	1
Engineered Systems
Revenue from External Customer [Line Items]
Number of product lines	1

Business Segments - Schedule of

Business Segments - Schedule of Net Sales and Operating Income by Segment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Net sales:
Total net sales	$ 1,374.1	$ 1,424.7	$ 2,724.2	$ 2,808
Net sales, percentage change	(3.60%)		(3.00%)
Operating income:
Operating income	$ 247	256.1	$ 481.3	498.6
Total segment operating profit, percentage change	(3.60%)		(3.50%)
Net sales	$ (1,374.1)	(1,424.7)	$ (2,724.2)	(2,808)
Corporate expense
Operating income:
Operating income	$ (18.3)	(14.6)	$ (38.4)	(32)
Total segment operating profit, percentage change	25.30%		20%
Inter-segment sales
Net sales:
Total net sales	$ (8.5)	(8.1)	$ (13.3)	(14.3)
Operating income:
Net sales	8.5	8.1	13.3	14.3
Digital Imaging
Net sales:
Total net sales	739.4	793.3	1,480.2	1,565.8
Operating income:
Net sales	(739.4)	(793.3)	(1,480.2)	(1,565.8)
Digital Imaging \| Operating segments
Net sales:
Total net sales	$ 739.4	793.3	$ 1,480.2	1,565.8
Net sales, percentage change	(6.80%)		(5.50%)
Operating income:
Operating income	$ 113.5	124.6	$ 227.3	246.8
Total segment operating profit, percentage change	(8.90%)		(7.90%)
Net sales	$ (739.4)	(793.3)	$ (1,480.2)	(1,565.8)
Instrumentation
Net sales:
Total net sales	333.5	328.4	663.9	661.9
Operating income:
Net sales	(333.5)	(328.4)	(663.9)	(661.9)
Instrumentation \| Operating segments
Net sales:
Total net sales	$ 333.5	328.4	$ 663.9	661.9
Net sales, percentage change	1.60%		0.30%
Operating income:
Operating income	$ 87.2	81.4	$ 173.2	162.1
Total segment operating profit, percentage change	7.10%		6.80%
Net sales	$ (333.5)	(328.4)	$ (663.9)	(661.9)
Aerospace and Defense Electronics
Net sales:
Total net sales	194.4	186	380.1	359.2
Operating income:
Net sales	(194.4)	(186)	(380.1)	(359.2)
Aerospace and Defense Electronics \| Operating segments
Net sales:
Total net sales	$ 194.4	186	$ 380.1	359.2
Net sales, percentage change	4.50%		5.80%
Operating income:
Operating income	$ 57.1	53.2	$ 109	100.2
Total segment operating profit, percentage change	7.30%		8.80%
Net sales	$ (194.4)	(186)	$ (380.1)	(359.2)
Engineered Systems
Net sales:
Total net sales	106.8	117	200	221.1
Operating income:
Net sales	(106.8)	(117)	(200)	(221.1)
Engineered Systems \| Operating segments
Net sales:
Total net sales	$ 106.8	117	$ 200	221.1
Net sales, percentage change	(8.70%)		(9.50%)
Operating income:
Operating income	$ 7.5	11.5	$ 10.2	21.5
Total segment operating profit, percentage change	(34.80%)		(52.60%)
Net sales	$ (106.8)	$ (117)	$ (200)	$ (221.1)

Business Segments - Identifiabl

Business Segments - Identifiable Assets (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Identifiable assets	$ 14,221.1	$ 14,527.9
Operating segments \| Digital Imaging
Segment Reporting Information [Line Items]
Identifiable assets	11,236.1	11,382.2
Operating segments \| Instrumentation
Segment Reporting Information [Line Items]
Identifiable assets	1,734.6	1,692.3
Operating segments \| Aerospace and Defense Electronics
Segment Reporting Information [Line Items]
Identifiable assets	560.4	569.1
Operating segments \| Engineered Systems
Segment Reporting Information [Line Items]
Identifiable assets	208.3	184.8
Corporate expense
Segment Reporting Information [Line Items]
Identifiable assets	$ 481.7	$ 699.5

Business Segments - Schedule _2

Business Segments - Schedule of Sales by Product Line (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Revenue from External Customer [Line Items]
Total net sales	$ 1,374.1	$ 1,424.7	$ 2,724.2	$ 2,808
Instrumentation
Revenue from External Customer [Line Items]
Total net sales	333.5	328.4	663.9	661.9
Instrumentation \| Marine Instrumentation
Revenue from External Customer [Line Items]
Total net sales	147.8	127.4	295.6	255.6
Instrumentation \| Environmental Instrumentation
Revenue from External Customer [Line Items]
Total net sales	113.5	115.3	224.6	233.2
Instrumentation \| Test and Measurement Instrumentation
Revenue from External Customer [Line Items]
Total net sales	$ 72.2	$ 85.7	$ 143.7	$ 173.1

Revenue Recognition and Contr_3

Revenue Recognition and Contract Balances - Narrative (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023
Segment Reporting Information [Line Items]
Revenue recognized from contract liabilities	$ 101.3
Change in estimate	$ 2.1	$ 0.5
Net sales \| Product Concentration Risk \| Recognized at a point in time
Segment Reporting Information [Line Items]
Net sales fixed price contracts percent (as a percent)	70%
Net sales \| Product Concentration Risk \| Recognized over time
Segment Reporting Information [Line Items]
Net sales fixed price contracts percent (as a percent)	30%
Engineered Systems \| Segment net sales \| Product Concentration Risk \| Fixed-price contracts
Segment Reporting Information [Line Items]
Net sales fixed price contracts percent (as a percent)	49%
Engineered Systems \| Minimum \| Segment net sales \| Product Concentration Risk \| Fixed-price contracts
Segment Reporting Information [Line Items]
Net sales fixed price contracts percent (as a percent)	45%
Engineered Systems \| Maximum \| Segment net sales \| Product Concentration Risk \| Fixed-price contracts
Segment Reporting Information [Line Items]
Net sales fixed price contracts percent (as a percent)	55%

Revenue Recognition and Contr_4

Revenue Recognition and Contract Balances - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Disaggregation of Revenue [Line Items]
Net sales	$ 1,374.1	$ 1,424.7	$ 2,724.2	$ 2,808
United States
Disaggregation of Revenue [Line Items]
Net sales	717.6	736.2	1,412.4	1,432
Europe
Disaggregation of Revenue [Line Items]
Net sales	317.7	338.7	649.1	662.7
Asia
Disaggregation of Revenue [Line Items]
Net sales	218.8	232.9	431.8	476
All other
Disaggregation of Revenue [Line Items]
Net sales	120	116.9	230.9	237.3
U.S. Govt.
Disaggregation of Revenue [Line Items]
Net sales	308.1	316.8	610.8	628.1
Other
Disaggregation of Revenue [Line Items]
Net sales	1,066	1,107.9	2,113.4	2,179.9
Digital Imaging
Disaggregation of Revenue [Line Items]
Net sales	739.4	793.3	1,480.2	1,565.8
Digital Imaging \| United States
Disaggregation of Revenue [Line Items]
Net sales	325.3	356.4	659	690.8
Digital Imaging \| Europe
Disaggregation of Revenue [Line Items]
Net sales	201.7	207.3	402	404.6
Digital Imaging \| Asia
Disaggregation of Revenue [Line Items]
Net sales	136.5	152.4	270.7	310.8
Digital Imaging \| All other
Disaggregation of Revenue [Line Items]
Net sales	75.9	77.2	148.5	159.6
Digital Imaging \| U.S. Govt.
Disaggregation of Revenue [Line Items]
Net sales	122.3	131.3	253	261.6
Digital Imaging \| Other
Disaggregation of Revenue [Line Items]
Net sales	617.1	662	1,227.2	1,304.2
Instrumentation
Disaggregation of Revenue [Line Items]
Net sales	333.5	328.4	663.9	661.9
Instrumentation \| United States
Disaggregation of Revenue [Line Items]
Net sales	153.4	139.4	298	277.4
Instrumentation \| Europe
Disaggregation of Revenue [Line Items]
Net sales	82.6	95.2	179.5	192.4
Instrumentation \| Asia
Disaggregation of Revenue [Line Items]
Net sales	61.9	64.6	122	132.1
Instrumentation \| All other
Disaggregation of Revenue [Line Items]
Net sales	35.6	29.2	64.4	60
Instrumentation \| U.S. Govt.
Disaggregation of Revenue [Line Items]
Net sales	29.3	21.3	62.7	44.3
Instrumentation \| Other
Disaggregation of Revenue [Line Items]
Net sales	304.2	307.1	601.2	617.6
Aerospace and Defense Electronics
Disaggregation of Revenue [Line Items]
Net sales	194.4	186	380.1	359.2
Aerospace and Defense Electronics \| United States
Disaggregation of Revenue [Line Items]
Net sales	132.9	126	256.6	246.1
Aerospace and Defense Electronics \| Europe
Disaggregation of Revenue [Line Items]
Net sales	33.4	36.2	67.6	65.7
Aerospace and Defense Electronics \| Asia
Disaggregation of Revenue [Line Items]
Net sales	20.1	15.5	38.7	32.5
Aerospace and Defense Electronics \| All other
Disaggregation of Revenue [Line Items]
Net sales	8	8.3	17.2	14.9
Aerospace and Defense Electronics \| U.S. Govt.
Disaggregation of Revenue [Line Items]
Net sales	60.8	61	119.6	125.7
Aerospace and Defense Electronics \| Other
Disaggregation of Revenue [Line Items]
Net sales	133.6	125	260.5	233.5
Engineered Systems
Disaggregation of Revenue [Line Items]
Net sales	106.8	117	200	221.1
Engineered Systems \| United States
Disaggregation of Revenue [Line Items]
Net sales	106	114.4	198.8	217.7
Engineered Systems \| Europe
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Engineered Systems \| Asia
Disaggregation of Revenue [Line Items]
Net sales	0.3	0.4	0.4	0.6
Engineered Systems \| All other
Disaggregation of Revenue [Line Items]
Net sales	0.5	2.2	0.8	2.8
Engineered Systems \| U.S. Govt.
Disaggregation of Revenue [Line Items]
Net sales	95.7	103.2	175.5	196.5
Engineered Systems \| Other
Disaggregation of Revenue [Line Items]
Net sales	$ 11.1	$ 13.8	$ 24.5	$ 24.6

Revenue Recognition and Contr_5

Revenue Recognition and Contract Balances - Schedule of Contract Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Accrued liabilities	$ 311.2	$ 241.1
Other long-term liabilities	29.5	25.5
Total contract liabilities	$ 340.7	$ 266.6

Revenue Recognition and Contr_6

Revenue Recognition and Contract Balances - Performance Obligation (Details) $ in Millions	Jun. 30, 2024 USD ($)
Revenue from Contract with Customer [Abstract]
Remaining performance obligation	$ 3,419.3
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage (as a percent)	77%
Remaining performance obligation, expected timing of satisfaction	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-06-29
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage (as a percent)	23%
Remaining performance obligation, expected timing of satisfaction

Goodwill and Acquired Intangi_3

Goodwill and Acquired Intangible Assets - Schedule of Changes in the Carrying Value of Goodwill (Details) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 8,002.8
Current year acquisitions	87.1
Foreign currency changes and other	(49.7)
Goodwill, ending balance	8,040.2
Digital Imaging
Goodwill [Roll Forward]
Goodwill, beginning balance	6,877
Current year acquisitions	63.8
Foreign currency changes and other	(42)
Goodwill, ending balance	6,898.8
Instrumentation
Goodwill [Roll Forward]
Goodwill, beginning balance	944.8
Current year acquisitions	23.3
Foreign currency changes and other	(7.5)
Goodwill, ending balance	960.6
Aerospace and Defense Electronics
Goodwill [Roll Forward]
Goodwill, beginning balance	163.4
Current year acquisitions	0
Foreign currency changes and other	(0.2)
Goodwill, ending balance	163.2
Engineered Systems
Goodwill [Roll Forward]
Goodwill, beginning balance	17.6
Current year acquisitions	0
Foreign currency changes and other	0
Goodwill, ending balance	$ 17.6

Goodwill and Acquired Intangi_4

Goodwill and Acquired Intangible Assets - Schedule of Carrying Value of Other Acquired Intangible Assets (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 2,325.9	$ 2,334.2
Accumulated amortization	990.9	906.1
Net carrying amount	1,335	1,428.1
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Total acquired intangible assets	3,173.8	3,184.2
Accumulated amortization	990.9	906.1
Acquired intangible assets, net	2,182.9	2,278.1
Trademarks
Indefinite-Lived Intangible Assets [Line Items]
Trademarks	847.9	850
Proprietary technology
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	1,686.9	1,696.6
Accumulated amortization	730	663
Net carrying amount	956.9	1,033.6
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated amortization	730	663
Customer list/relationships
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	609	609.5
Accumulated amortization	236.5	219.4
Net carrying amount	372.5	390.1
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated amortization	236.5	219.4
Patents
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	0.6	0.6
Accumulated amortization	0.6	0.6
Net carrying amount	0	0
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated amortization	0.6	0.6
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	0.9	0.9
Accumulated amortization	0.9	0.9
Net carrying amount	0	0
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated amortization	0.9	0.9
Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	12.2	10.2
Accumulated amortization	6.6	5.8
Net carrying amount	5.6	4.4
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated amortization	6.6	5.8
Backlog
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	16.3	16.4
Accumulated amortization	16.3	16.4
Net carrying amount	0	0
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated amortization	$ 16.3	$ 16.4

Goodwill and Acquired Intangi_5

Goodwill and Acquired Intangible Assets - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Goodwill [Line Items]
Fair value in excess of carrying value		100%
Goodwill	$ 8,040.2	$ 8,002.8
Trademarks
Goodwill [Line Items]
Trademarks	847.9	$ 850
FLIR Reporting Unit
Goodwill [Line Items]
Fair value in excess of carrying value		6%
Reporting amount of carrying value		$ 460
Goodwill	$ 5,850.8	5,832.4
FLIR Reporting Unit \| Trademarks
Goodwill [Line Items]
Trademarks		685.3
Fair value		$ 694.9

Supplemental Balance Sheet In_3

Supplemental Balance Sheet Information - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash equivalents	$ 48.8	$ 265.1
Allowance for doubtful accounts	$ 12.4	$ 11.5

Supplemental Balance Sheet In_4

Supplemental Balance Sheet Information - Schedule of Inventory (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Raw materials and supplies	$ 581.3	$ 560.6
Work in process	209.9	184.8
Finished goods	174.5	172.3
Total inventories, net	$ 965.7	$ 917.7

Supplemental Balance Sheet In_5

Supplemental Balance Sheet Information - Schedule of Changes in Product Warranty Reserve (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance at beginning of year	$ 49.1	$ 50.3
Product warranty expense	13.7	8.2
Deductions	(14.9)	(7.5)
Acquisition	0.4	0
Balance at end of period	$ 48.3	$ 51

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-Term Debt (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Total debt	$ 2,816,400,000	$ 3,266,000,000
Debt discount and debt issuance costs	(19,000,000)	(21,100,000)
Total debt, net	2,797,400,000	3,244,900,000
Less: Current portion of long-term debt	(150,500,000)	(600,100,000)
Total long-term debt, net of current portion	2,646,900,000	2,644,800,000
Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	1,200,000,000
Total debt	$ 0	0
Senior Notes \| 1.60% Fixed Rate Senior Notes due April 2026
Debt Instrument [Line Items]
Stated interest rate (as a percent)	1.60%
Total debt	$ 450,000,000	450,000,000
Senior Notes \| 2.25% Fixed Rate Senior Notes due April 2028
Debt Instrument [Line Items]
Stated interest rate (as a percent)	2.25%
Total debt	$ 700,000,000	700,000,000
Senior Notes \| 2.50% Fixed Rate Senior Notes due August 2030
Debt Instrument [Line Items]
Stated interest rate (as a percent)	2.50%
Total debt	$ 485,000,000	485,000,000
Senior Notes \| 2.75% Fixed Rate Senior Notes due April 2031
Debt Instrument [Line Items]
Stated interest rate (as a percent)	2.75%
Total debt	$ 1,030,000,000	1,030,000,000
Senior Notes \| 0.95% Fixed Rate Senior Notes due and repaid April 2024
Debt Instrument [Line Items]
Stated interest rate (as a percent)	0.95%
Total debt	$ 0	$ 450,000,000
Term Loans \| Term loan due October 2024, variable rate of 6.69% at June 30, 2024 and 6.71% at December 31, 2023, swapped to a Euro fixed rate of 0.61%
Debt Instrument [Line Items]
Stated interest rate (as a percent)	0.61%
Variable interest rate	6.69%	6.71%
Total debt	$ 150,000,000	$ 150,000,000
Other debt
Debt Instrument [Line Items]
Total debt	$ 1,400,000	$ 1,000,000

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details) - USD ($)	3 Months Ended
Long-Term Debt - Narrative (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Line of Credit Facility [Line Items]
Long-term debt fair value	$ 2,493,200,000	$ 2,965,300,000
Borrowings	2,816,400,000	3,266,000,000
Senior Notes \| 0.95% Fixed Rate Senior Notes due and repaid April 2024
Line of Credit Facility [Line Items]
Repayments debt	450,000,000
Borrowings	0	450,000,000
Revolving Credit Facility \| Credit Facility
Line of Credit Facility [Line Items]
Available balance	1,177,700,000
Maximum borrowing capacity	1,200,000,000
Borrowings	0	$ 0
Letter of Credit \| Credit Facility
Line of Credit Facility [Line Items]
Outstanding letters of credit	$ 22,300,000

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Income Tax Disclosure [Abstract]
Provision (benefit) for income taxes	$ 51.4	$ 49.4	$ 97.8	$ 94.3
Income (loss) before income taxes	$ 231.7	$ 234.9	$ 457.2	$ 458.6
Effective tax rate	22.20%	21%	21.40%	20.60%
Discrete income tax benefits	$ 0.7	$ 1.4	$ 5.1	$ 8

Pension Plans - Schedule of Def

Pension Plans - Schedule of Defined Benefit Pension Plans and Postretirement Benefit Plans (Details) - Pension Plan - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Components of net period pension benefit expense
Service cost — benefits earned during the period	$ 1.5	$ 1.5	$ 3	$ 3
Pension non-service cost (income)
Interest cost on benefit obligation	8.1	8.4	16.3	16.8
Expected return on plan assets	(13.5)	(13.5)	(27.1)	(27.1)
Amortization of net prior service cost (income)	(0.2)	(0.4)	(0.4)	(0.9)
Amortization of net actuarial loss (gain)	2.9	2.6	5.8	5
Pension non-service cost (income)	$ (2.7)	$ (2.9)	$ (5.4)	$ (6.2)

Stock-based Compensation - Narr

Stock-based Compensation - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 9.3	$ 8.4	$ 21.3	$ 16.3

Stock-based Compensation - Sche

Stock-based Compensation - Schedule of Stock Option Transactions for Employee Stock Option Plans (Details) - Stock Options	3 Months Ended	6 Months Ended
	Jun. 30, 2024 $ / shares shares	Jun. 30, 2024 $ / shares shares
Shares
Beginning balance (in shares) \| shares	1,312,665	1,337,972
Granted (in shares) \| shares	0	67,003
Exercised (in shares) \| shares	(16,012)	(99,039)
Canceled (in shares) \| shares	(9,377)	(18,660)
Ending balance (in shares) \| shares	1,287,276	1,287,276
Exercisable at end of period (in shares) \| shares	1,086,068	1,086,068
Weighted Average Exercise Price
Beginning balance (in USD per share) \| $ / shares	$ 267.47	$ 223.43
Granted (in USD per share) \| $ / shares	0	441.98
Exercised (in USD per share) \| $ / shares	149.11	115.76
Canceled (in USD per share) \| $ / shares	376.60	382.80
Ending balance (in USD per share) \| $ / shares	268.15	268.15
Options exercisable at end of period (in USD per share) \| $ / shares	$ 242.05	$ 242.05

Stock-based Compensation - Sc_2

Stock-based Compensation - Schedule of Stock Option Transactions for Employee Stock Option Plans (Details) - Restricted Stock - $ / shares	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024
Shares
Beginning balance (in shares)	188,237	123,089
Granted (in shares)	4,783	94,050
Vested (in shares)	(2,170)	(23,033)
Forfeited/Canceled (in shares)	(1,882)	(5,138)
Ending balance (in shares)	188,968	188,968
Weighted average fair value per share
Beginning balance (in USD per share)	$ 394.81	$ 364.86
Granted (in USD per share)	364.21	428.99
Vested (in USD per share)	405.09	384.35
Forfeited/Canceled (in USD per share)	391.94	381.97
Ending balance (in USD per share)	$ 383.89	$ 383.89

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Basic and Diluted Earnings per Share (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Earnings Per Share [Abstract]
Weighted average basic common shares outstanding (in shares)	47.2	47	47.3	47
Effect of dilutive securities (primarily stock options) (in shares)	0.6	0.9	0.6	0.9
Weighted average diluted common shares outstanding (in shares)	47.8	47.9	47.9	47.9

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	1 Months Ended	3 Months Ended		6 Months Ended
	Jul. 26, 2024	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023	Apr. 30, 2024
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Stock repurchase program authorized amount						$ 1,250
Repurchase of common stock, number of shares (in shares)		0.5
Purchases of treasury stock		$ 193.8		$ 193.8	$ 0
Shares repurchased, average price per share (in USD per share)		$ 391.92
Subsequent event
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Repurchase of common stock, number of shares (in shares)	0.2
Purchases of treasury stock	$ 84.5
Shares repurchased, average price per share (in USD per share)	$ 394.43
Stock Options
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Shares excluded from computation of diluted earnings per share (in shares)		0.2	0.2	0.2	0.2

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Schedule of Changes in AOCI by Component (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jul. 02, 2023	Apr. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	$ 9,328	$ 9,221.2	$ 8,365.7	$ 8,169.2	$ 9,221.2	$ 8,169.2
Other comprehensive income (loss) before reclassifications	(7.8)		15.3		(93.9)	20.8
Amounts reclassified from AOCI	1.8		(0.5)		(3)	(6.3)
Net other comprehensive income (loss)	(6)	(90.9)	14.8	(0.3)	(96.9)	14.5
Ending balance	9,319.7	9,328	8,579	8,365.7	9,319.7	8,579
Total
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(725)	(634.1)	(726.8)	(726.5)	(634.1)	(726.5)
Net other comprehensive income (loss)	(6)	(90.9)	14.8	(0.3)
Ending balance	(731)	(725)	(712)	(726.8)	(731)	(712)
Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(481.5)	(392.7)	(476.6)	(472.3)	(392.7)	(472.3)
Other comprehensive income (loss) before reclassifications	(5.8)		12.3		(94.6)	8
Amounts reclassified from AOCI	0		0		0	0
Net other comprehensive income (loss)	(5.8)		12.3		(94.6)	8
Ending balance	(487.3)	(481.5)	(464.3)	(476.6)	(487.3)	(464.3)
Cash Flow Hedges and Other
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	4	8.2	3.8	1.3	8.2	1.3
Other comprehensive income (loss) before reclassifications	(2)		3		0.7	12.8
Amounts reclassified from AOCI	(0.3)		(1.4)		(7.2)	(8.7)
Net other comprehensive income (loss)	(2.3)		1.6		(6.5)	4.1
Ending balance	1.7	4	5.4	3.8	1.7	5.4
Pension and Postretirement Benefits
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(247.5)	(249.6)	(254)	(255.5)	(249.6)	(255.5)
Other comprehensive income (loss) before reclassifications	0		0		0	0
Amounts reclassified from AOCI	2.1		0.9		4.2	2.4
Net other comprehensive income (loss)	2.1		0.9		4.2	2.4
Ending balance	$ (245.4)	$ (247.5)	$ (253.1)	$ (254)	$ (245.4)	$ (253.1)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Loss) - Schedule of Reclassification out of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jul. 02, 2023	Apr. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]
Costs and expenses	$ 1,127.1		$ 1,168.6		$ 2,242.9	$ 2,309.4
Total before tax	(231.7)		(234.9)		(457.2)	(458.6)
Income tax impact	51.4		49.4		97.8	94.3
Total	(180.2)	$ (178.5)	(185.3)	$ (178.7)	(358.7)	(364)
Amount Reclassified from AOCI \| Cash Flow Hedges and Other
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total before tax	(0.4)		(1.8)		(9.7)	(11.6)
Income tax impact	0.1		0.4		2.5	2.9
Total	(0.3)		(1.4)		(7.2)	(8.7)
Amount Reclassified from AOCI \| Pension and Postretirement Benefits
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total before tax	2.8		1.4		5.6	3.4
Income tax impact	(0.7)		(0.5)		(1.4)	(1)
Total	2.1		0.9		4.2	2.4
Amount Reclassified from AOCI \| Amortization of prior service cost
Accumulated Other Comprehensive Income (Loss) [Line Items]
Costs and expenses	(0.1)		(0.4)		(0.2)	(0.9)
Amount Reclassified from AOCI \| Amortization of net actuarial loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Costs and expenses	$ 2.9		$ 1.8		$ 5.8	$ 4.3

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities - Narrative (Details) € in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($)	Jul. 02, 2023 USD ($)	Jun. 30, 2024 USD ($)	Jul. 02, 2023 USD ($)	Jun. 30, 2024 EUR (€)
Derivatives not designated as hedging instruments:
Derivative Instruments, Gain (Loss) [Line Items]
(Expense) income from derivative instruments	$ (2.8)	$ 2	$ (12.1)	$ 9.7
Forward contracts \| Designated as hedging instrument
Derivative Instruments, Gain (Loss) [Line Items]
Expected reclassification of gain (loss) over the next 12 months	0.1		0.1
Forward contracts \| Designated as hedging instrument \| Cash flow hedges \| Sell US Dollars and buy Canadian Dollars
Derivative Instruments, Gain (Loss) [Line Items]
Derivative notional amount	98.5		98.5
Forward contracts \| Designated as hedging instrument \| Cash flow hedges \| Sell US Dollars and buy Great Britain Pounds
Derivative Instruments, Gain (Loss) [Line Items]
Derivative notional amount	8.3		8.3
Currency swap maturing October 2024 \| Designated as hedging instrument \| Cash flow hedges
Derivative Instruments, Gain (Loss) [Line Items]
Derivative notional amount	150		150		€ 156
Currency swap and interest rate swap \| Designated as hedging instrument
Derivative Instruments, Gain (Loss) [Line Items]
Expected reclassification of gain (loss) over the next 12 months	$ 1.9		$ 1.9

Derivative Instruments and He_4

Derivative Instruments and Hedging Activities - Schedule of Effect of Derivative Instruments Designated as Cash Flow Hedges (Details) - Designated as hedging instrument - Cash flow hedges - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Foreign Exchange Contracts
Derivative Instruments, Gain (Loss) [Line Items]
Net gain (loss) recognized in AOCI	$ 0.2	$ 3.1	$ 0.9	$ 16.8
Foreign Exchange Contracts \| Revenue
Derivative Instruments, Gain (Loss) [Line Items]
Net gain (loss) reclassified from AOCI	0.2	(1.8)	1	(3.7)
Foreign Exchange Contracts \| Other income and (expense), net
Derivative Instruments, Gain (Loss) [Line Items]
Net gain (loss) reclassified from AOCI	1.2	0.6	4.9	10.7
Foreign Exchange Contracts \| Interest expense
Derivative Instruments, Gain (Loss) [Line Items]
Net gain (loss) reclassified from AOCI	2	2.2	3.9	3.7
Interest Rate Contracts \| Interest expense
Derivative Instruments, Gain (Loss) [Line Items]
Net gain (loss) reclassified from AOCI	$ 0	$ 0	$ 0	$ 0.6

Derivative Instruments and He_5

Derivative Instruments and Hedging Activities - Schedule of Effect of Derivative Instruments Designated as Cash Flow Hedges (Details) - Jun. 30, 2024 - Forward contracts - Derivatives not designated as hedging instruments: € in Millions, £ in Millions, kr in Millions, kr in Millions, kr in Millions, $ in Millions, $ in Millions	USD ($)	EUR (€)	CAD ($)	DKK (kr)	GBP (£)	NOK (kr)	SEK (kr)
Contracts to Buy \| Sell US Dollars and buy Canadian Dollars
Derivatives, Fair Value [Line Items]
Derivative notional amount			$ 276.4
Contracts to Buy \| Sell US Dollars and buy Danish Krone
Derivatives, Fair Value [Line Items]
Derivative notional amount \| kr				kr 167.4
Contracts to Buy \| Sell Euros and buy Great Britain Pounds
Derivatives, Fair Value [Line Items]
Derivative notional amount \| £					£ 6.4
Contracts to Buy \| Sell US Dollars and buy Great Britain Pounds
Derivatives, Fair Value [Line Items]
Derivative notional amount \| £					£ 107.3
Contracts to Buy \| Sell Euros And Buy US Dollars
Derivatives, Fair Value [Line Items]
Derivative notional amount	$ 4.1
Contracts to Buy \| Sell US Dollars and buy Norwegian Krone
Derivatives, Fair Value [Line Items]
Derivative notional amount \| kr						kr 218.2
Contracts to Buy \| Sell Euros and buy Swedish Krona
Derivatives, Fair Value [Line Items]
Derivative notional amount \| kr							kr 174.9
Contracts to Buy \| Sell US Dollars and buy Swedish Krone
Derivatives, Fair Value [Line Items]
Derivative notional amount \| kr							kr 467.6
Contracts to Sell \| Sell US Dollars and buy Canadian Dollars
Derivatives, Fair Value [Line Items]
Derivative notional amount	202.3
Contracts to Sell \| Sell US Dollars and buy Danish Krone
Derivatives, Fair Value [Line Items]
Derivative notional amount	24.4
Contracts to Sell \| Sell Euros and buy Great Britain Pounds
Derivatives, Fair Value [Line Items]
Derivative notional amount \| €		€ 7.5
Contracts to Sell \| Sell US Dollars and buy Great Britain Pounds
Derivatives, Fair Value [Line Items]
Derivative notional amount	136.4
Contracts to Sell \| Sell Euros And Buy US Dollars
Derivatives, Fair Value [Line Items]
Derivative notional amount \| €		4.1
Contracts to Sell \| Sell US Dollars and buy Norwegian Krone
Derivatives, Fair Value [Line Items]
Derivative notional amount	20.8
Contracts to Sell \| Sell Euros and buy Swedish Krona
Derivatives, Fair Value [Line Items]
Derivative notional amount \| €		€ 15.3
Contracts to Sell \| Sell US Dollars and buy Swedish Krone
Derivatives, Fair Value [Line Items]
Derivative notional amount	$ 44.3

Derivative Instruments and He_6

Derivative Instruments and Hedging Activities - Schedule of Effect of Derivative Instruments Designated as Cash Flow Hedges (Details) - Level 2 - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Fair values of derivative financial instruments
Total derivatives, net	$ (18.2)	$ (4.1)
Derivatives designated as hedging instruments:
Fair values of derivative financial instruments
Total liability derivatives	(16.1)	(15.1)
Derivatives not designated as hedging instruments:
Fair values of derivative financial instruments
Total liability derivatives	(2.1)	11
Other current assets \| Derivatives designated as hedging instruments: \| Forward contracts \| Cash flow hedges
Fair values of derivative financial instruments
Total asset derivatives	0.4	3.7
Other current assets \| Derivatives designated as hedging instruments: \| Currency / interest rate contracts
Fair values of derivative financial instruments
Total asset derivatives	0.1	0.1
Other current assets \| Derivatives designated as hedging instruments: \| Currency / interest rate contracts \| Cash flow hedges
Fair values of derivative financial instruments
Total asset derivatives	(16.5)	(21.3)
Other current assets \| Derivatives not designated as hedging instruments: \| Forward contracts
Fair values of derivative financial instruments
Total asset derivatives	2.9	14.2
Other non-current assets \| Derivatives designated as hedging instruments: \| Forward contracts \| Cash flow hedges
Fair values of derivative financial instruments
Total liability derivatives	0.2	2.4
Other current liabilities \| Derivatives designated as hedging instruments: \| Forward contracts \| Fair value hedges
Fair values of derivative financial instruments
Total liability derivatives	(0.3)	0
Accrued liabilities \| Derivatives not designated as hedging instruments: \| Forward contracts
Fair values of derivative financial instruments
Total liability derivatives	$ (5)	$ (3.2)

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Reserves for environmental remediation obligations	$ 6.8	$ 5.4
Portion of reserves included in current accrued liabilities	$ 3.1
Maximum
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Estimated duration of remediation (in years)	30 years