Segment Information (Tables)

3 Months Ended

Mar. 31, 2019

Segment Reporting [Abstract]

Industry Segment Disclosures

The following table presents Teledyne’s segment disclosures (dollars in millions):

	First Quarter						%
	2019			2018			Change
Net sales(a):
Instrumentation	$	256.5		$	239.0		7.3	%
Digital Imaging	235.3			211.0			11.5	%
Aerospace and Defense Electronics	180.4			173.6			3.9	%
Engineered Systems	73.0			72.0			1.4	%
Total net sales	$	745.2		$	695.6		7.1	%
Operating income:
Instrumentation	$	39.9		$	27.8		43.5	%
Digital Imaging	37.0			34.6			6.9	%
Aerospace and Defense Electronics	33.8			31.7			6.6	%
Engineered Systems	4.7			7.2			(34.7	)%
Corporate expense	(18.1		)	(12.9		)	40.3	%
Operating income	$	97.3		$	88.4		10.1	%

(a) Net sales excludes inter-segment sales of $6.4 million and $5.2 million for the first quarter of 2019 and 2018, respectively.

Corporate assets primarily consist of cash, deferred taxes, net pension assets/liabilities and other assets (in millions):

Identifiable assets:	March 31, 2019		December 30, 2018
Instrumentation	$	1,422.2	$	1,392.7
Digital Imaging	1,832.2		1,600.9
Aerospace and Defense Electronics	597.4		521.4
Engineered Systems	117.6		116.6
Corporate	192.3		177.7
Total identifiable assets	$	4,161.7	$	3,809.3

Summary of the sales by product line

The following tables provide a summary of the net sales by product line for the Instrumentation segment (in millions):

	First Quarter
Instrumentation	2019		2018
Marine Instrumentation	$	105.2	$	104.2
Environmental Instrumentation	86.4		81.2
Test and Measurement Instrumentation	64.9		53.6
Total	$	256.5	$	239.0

Disaggregation of Revenue

We also disaggregate our revenue from contracts with customers by customer type, contract-type and geographic region for each of our segments, as we believe it best depicts how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors.

	First Quarter Ended March 31, 2019						First Quarter Ended April 1, 2018
	Customer Type						Customer Type
(in millions)	United States Government (a)		Other, Primarily Commercial		Total		United States Government (a)		Other, Primarily Commercial		Total
Net Sales:
Instrumentation	$	14.2	$	242.3	$	256.5	$	12.8	$	226.2	$	239.0
Digital Imaging	26.2		209.1		235.3		22.4		188.6		211.0
Aerospace and Defense Electronics	68.0		112.4		180.4		65.3		108.3		173.6
Engineered Systems	61.5		11.5		73.0		59.0		13.0		72.0
	$	169.9	$	575.3	$	745.2	$	159.5	$	536.1	$	695.6

a) Includes sales as a prime contractor or subcontractor.

	First Quarter Ended March 31, 2019						First Quarter Ended April 1, 2018
	Contract Type						Contract Type
(in millions)	Fixed Price		Cost Type		Total		Fixed Price		Cost Type		Total
Net Sales:
Instrumentation	$	251.0	$	5.5	$	256.5	$	234.1	$	4.9	$	239.0
Digital Imaging	213.3		22.0		235.3		191.2		19.8		211.0
Aerospace and Defense Electronics	180.1		0.3		180.4		173.4		0.2		173.6
Engineered Systems	18.2		54.8		73.0		23.2		48.8		72.0
	$	662.6	$	82.6	$	745.2	$	621.9	$	73.7	$	695.6

	First Quarter Ended March 31, 2019								First Quarter Ended April 1, 2018
	Geographic Region (a)								Geographic Region (a)
(in millions)	United States		Europe		All other		Total		United States		Europe		All other		Total
Net sales:
Instrumentation	$	211.1	$	33.6	$	11.8	$	256.5	$	191.0	$	39.4	$	8.6	$	239.0
Digital Imaging	72.4		70.3		92.6		235.3		56.8		67.0		87.2		211.0
Aerospace and Defense Electronics	165.1		15.1		0.2		180.4		154.1		18.8		0.7		173.6
Engineered Systems	71.2		1.8		—		73.0		70.2		1.8		—		72.0
	$	519.8	$	120.8	$	104.6	$	745.2	$	472.1	$	127.0	$	96.5	$	695.6

a) Net sales by geographic region of origin.