Segment Information (Tables)

6 Months Ended

Jun. 28, 2020

Segment Reporting [Abstract]

Industry Segment Disclosures

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

	Second Quarter				%		Six Months				%
	2020		2019		Change		2020		2019		Change
Net sales(a):
Instrumentation	$	263.1	$	264.1	(0.4)	%	$	548.2	$	520.6	5.3	%
Digital Imaging	237.6		248.4		(4.3)	%	484.3		480.8		0.7	%
Aerospace and Defense Electronics	143.1		176.0		(18.7)	%	299.4		342.6		(12.6)	%
Engineered Systems	99.5		93.5		6.4	%	196.0		183.2		7.0	%
Total net sales	$	743.3	$	782.0	(4.9)	%	$	1,527.9	$	1,527.2	—	%
Operating income:
Instrumentation	$	48.5	$	49.0	(1.0)	%	$	99.3	$	88.9	11.7	%
Digital Imaging	46.8		51.6		(9.3)	%	90.6		88.2		2.7	%
Aerospace and Defense Electronics	17.5		38.6		(54.7)	%	30.9		71.1		(56.5)	%
Engineered Systems	10.8		9.0		20.0	%	22.2		15.4		44.2	%
Corporate expense	(13.8)		(16.3)		(15.3)	%	(29.2)		(34.4)		(15.1)	%
Operating income	$	109.8	$	131.9	(16.8)	%	$	213.8	$	229.2	(6.7)	%

(a) Net sales excludes inter-segment sales of $5.5 million and $12.4 million for the second quarter and first six months of 2020, respectively, and $4.0 million and $10.4 million for the second quarter and first six months of 2019, respectively.

Identifiable assets are those assets used in the operations of the segments. Corporate assets primarily consist of cash, deferred taxes, net pension assets/liabilities and other assets (in millions):

Identifiable assets:	June 28, 2020		December 29, 2019
Instrumentation	$	1,693.0	$	1,680.2
Digital Imaging	1,888.7		1,874.6
Aerospace and Defense Electronics	590.2		618.3
Engineered Systems	154.4		143.4
Corporate	411.9		263.3
Total identifiable assets	$	4,738.2	$	4,579.8

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	2020		2019		2020		2019
Marine Instrumentation	109.9		$	111.4	$	219.2	$	216.6
Environmental Instrumentation	94.3		87.4		203.6		173.8
Test and Measurement Instrumentation	58.9		65.3		125.4		130.2
Total	$	263.1	$	264.1	$	548.2	$	520.6

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 28, 2020						Six Months Ended June 28, 2020
	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	$	21.4	$	241.7	$	263.1	$	35.5	$	512.7	$	548.2
Digital Imaging	30.1		207.5		237.6		59.4		424.9		484.3
Aerospace and Defense Electronics	57.8		85.3		143.1		111.6		187.8		299.4
Engineered Systems	96.5		3.0		99.5		184.8		11.2		196.0
	$	205.8	$	537.5	$	743.3	$	391.3	$	1,136.6	$	1,527.9

a) Includes sales as a prime contractor or subcontractor.

	Second Quarter Ended June 28, 2020						Six Months Ended June 28, 2020
	Contract Type						Contract Type
(in millions)	Fixed Price		Cost Type		Total		Fixed Price		Cost Type		Total
Net Sales:
Instrumentation	$	261.8	$	1.3	$	263.1	$	544.0	$	4.2	$	548.2
Digital Imaging	214.4		23.2		237.6		435.8		48.5		484.3
Aerospace and Defense Electronics	143.1		—		143.1		299.2		0.2		299.4
Engineered Systems	52.7		46.8		99.5		103.0		93.0		196.0
	$	672.0	$	71.3	$	743.3	$	1,382.0	$	145.9	$	1,527.9

	Second Quarter Ended June 28, 2020								Six Months Ended June 28, 2020
	Geographic Region (a)								Geographic Region (a)
(in millions)	United States		Europe		All other		Total		United States		Europe		All other		Total
Net sales:
Instrumentation	$	211.3	$	43.1	$	8.7	$	263.1	$	429.1	$	98.0	$	21.1	$	548.2
Digital Imaging	78.0		61.8		97.8		237.6		155.6		130.6		198.1		484.3
Aerospace and Defense Electronics	125.1		17.8		0.2		143.1		257.0		42.0		0.4		299.4
Engineered Systems	99.5		—		—		99.5		196.0		—		—		196.0
	$	513.9	$	122.7	$	106.7	$	743.3	$	1,037.7	$	270.6	$	219.6	$	1,527.9

a) Net sales by geographic region of origin.

	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		222.2		248.4		52.4		428.4		480.8
Aerospace and Defense Electronics	58.5		117.5		176.0		108.0		234.6		342.6
Engineered Systems	83.8		9.7		93.5		163.8		19.4		183.2
	$	187.1	$	594.9	$	782.0	$	357.0	$	1,170.2	$	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	232.9		15.5		248.4		432.1		48.7		480.8
Aerospace and Defense Electronics	172.6		3.4		176.0		336.0		6.6		342.6
Engineered Systems	39.7		53.8		93.5		74.6		108.6		183.2
	$	698.9	$	83.1	$	782.0	$	1,347.4	$	179.8	$	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		74.4		93.7		248.4		152.7		141.8		$	186.3	$	480.8
Aerospace and Defense Electronics	151.6		24.0		0.4		176.0		298.2		43.8		$	0.6	$	342.6
Engineered Systems	93.5		—		—		93.5		183.2		—		—		183.2
	$	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.