Segment Information (Tables)

6 Months Ended

Jun. 30, 2019

Segment Reporting [Abstract]

Industry Segment Disclosures

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

Identifiable assets:	June 30, 2019		December 30, 2018
Instrumentation	$	1,410.2	$	1,392.7
Digital Imaging	1,843.6		1,600.9
Aerospace and Defense Electronics	616.0		521.4
Engineered Systems	123.3		116.6
Corporate	207.1		177.7
Total identifiable assets	$	4,200.2	$	3,809.3

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

	Second Quarter						%		Six Months						%
	2019			2018			Change		2019			2018			Change
Net sales(a):
Instrumentation	$	264.1		$	262.6		0.6	%	$	520.6		$	501.6		3.8	%
Digital Imaging	251.3			225.3			11.5	%	486.6			436.3			11.5	%
Aerospace and Defense Electronics	191.0			173.5			10.1	%	371.4			347.1			7.0	%
Engineered Systems	75.6			71.1			6.3	%	148.6			143.1			3.8	%
Total net sales	$	782.0		$	732.5		6.8	%	$	1,527.2		$	1,428.1		6.9	%
Operating income:
Instrumentation	$	49.0		$	40.9		19.8	%	$	88.9		$	68.7		29.4	%
Digital Imaging	52.5			43.3			21.2	%	89.5			77.9			14.9	%
Aerospace and Defense Electronics	39.4			33.7			16.9	%	73.2			65.4			11.9	%
Engineered Systems	7.3			7.4			(1.4	)%	12.0			14.6			(17.8	)%
Corporate expense	(16.3		)	(13.8		)	18.1	%	(34.4		)	(26.7		)	28.8	%
Operating income	$	131.9		$	111.5		18.3	%	$	229.2		$	199.9		14.7	%

(a) Net sales excludes inter-segment sales of $4.0 million and $10.4 million for the second quarter and first six months of 2019, respectively, and $5.5 million and $10.7 million for the second quarter and first six months of 2018.

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):

	Second Quarter				Six Months
Instrumentation	2019		2018		2019		2018
Marine Instrumentation	$	111.4	$	118.7	$	216.6	$	222.9
Environmental Instrumentation	87.4		85.7		173.8		166.9
Test and Measurement Instrumentation	65.3		58.2		130.2		111.8
Total	$	264.1	$	262.6	$	520.6	$	501.6

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.

	Second Quarter Ended June 30, 2019						Six Months Ended June 30, 2019
	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	$	18.6	$	245.5	$	264.1	$	32.8	$	487.8	$	520.6
Digital Imaging	26.2		225.1		251.3		52.4		434.2		486.6
Aerospace and Defense Electronics	78.5		112.5		191.0		146.5		224.9		371.4
Engineered Systems	63.7		11.9		75.6		125.2		23.4		148.6
	$	187.0	$	595.0	$	782.0	$	356.9	$	1,170.3	$	1,527.2

a) Includes sales as a prime contractor or subcontractor.

	Second Quarter Ended June 30, 2019						Six Months Ended June 30, 2019
	Contract Type						Contract Type
(in millions)	Fixed Price		Cost Type		Total		Fixed Price		Cost Type		Total
Net Sales:
Instrumentation	$	253.7	$	10.4	$	264.1	$	504.7	$	15.9	$	520.6
Digital Imaging	229.8		21.5		251.3		443.1		43.5		486.6
Aerospace and Defense Electronics	190.5		0.5		191.0		370.6		0.8		371.4
Engineered Systems	21.8		53.8		75.6		40.0		108.6		148.6
	$	695.8	$	86.2	$	782.0	$	1,358.4	$	168.8	$	1,527.2

	Second Quarter Ended June 30, 2019								Six Months Ended June 30, 2019
	Geographic Region (a)								Geographic Region (a)
(in millions)	United States		Europe		All other		Total		United States		Europe		All other		Total
Net sales:
Instrumentation	$	225.1	$	30.8	$	8.2	$	264.1	$	436.2	$	64.4	$	20.0	$	520.6
Digital Imaging	80.3		77.3		93.7		251.3		152.7		147.6		186.3		486.6
Aerospace and Defense Electronics	171.7		18.9		0.4		191.0		336.8		34.0		0.6		371.4
Engineered Systems	73.4		2.2		—		75.6		144.6		4.0		—		148.6
	$	550.5	$	129.2	$	102.3	$	782.0	$	1,070.3	$	250.0	$	206.9	$	1,527.2

a) Net sales by geographic region of origin.

	Second Quarter Ended July 1, 2018						Six Months Ended July 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	$	15.8	$	246.8	$	262.6	$	28.6	$	473.0	$	501.6
Digital Imaging	22.5		202.8		225.3		44.9		391.4		436.3
Aerospace and Defense Electronics	66.5		107.0		173.5		131.8		215.3		347.1
Engineered Systems	57.2		13.9		71.1		116.2		26.9		143.1
	$	162.0	$	570.5	$	732.5	$	321.5	$	1,106.6	$	1,428.1

a) Includes sales as a prime contractor or subcontractor.

	Second Quarter Ended July 1, 2018						Six Months Ended July 1, 2018
	Contract Type						Contract Type
(in millions)	Fixed Price		Cost Type		Total		Fixed Price		Cost Type		Total
Net Sales:
Instrumentation	$	258.5	$	4.1	$	262.6	$	492.6	$	9.0	$	501.6
Digital Imaging	203.5		21.8		225.3		394.7		41.6		436.3
Aerospace and Defense Electronics	173.0		0.5		173.5		346.4		0.7		347.1
Engineered Systems	23.4		47.7		71.1		46.6		96.5		143.1
	$	658.4	$	74.1	$	732.5	$	1,280.3	$	147.8	$	1,428.1

	Second Quarter Ended July 1, 2018								Six Months Ended July 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	$	206.5	$	45.4	$	10.7	$	262.6	$	397.5	$	84.8	$	19.3	$	501.6
Digital Imaging	59.4		76.0		89.9		225.3		116.2		143.0		177.1		436.3
Aerospace and Defense Electronics	157.0		15.9		0.6		173.5		311.1		34.7		1.3		347.1
Engineered Systems	68.9		2.2		—		71.1		139.1		4.0		—		143.1
	$	491.8	$	139.5	$	101.2	$	732.5	$	963.9	$	266.5	$	197.7	$	1,428.1

a) Net sales by geographic region of origin.