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Segment Information (Tables)
 3 Months Ended
Apr. 03, 2022
Segment Reporting [Abstract]  
Schedule of Industry Segment Disclosures
The following table presents Teledyne’s segment disclosures (dollars in millions):
First Quarter%
20222021Change
Net sales(a):
Digital Imaging (b)$750.5 $263.3 185.0 %
Instrumentation 308.9 286.5 7.8 %
Aerospace and Defense Electronics166.2 151.2 9.9 %
Engineered Systems95.4 104.7 (8.9)%
Total net sales$1,321.0 $805.7 64.0 %
Operating income:
Digital Imaging (b)$115.7 $52.0 122.5 %
Instrumentation71.6 59.4 20.5 %
Aerospace and Defense Electronics42.9 28.3 51.6 %
Engineered Systems9.4 14.9 (36.9)%
Corporate expense (c)(16.1)(19.4)(17.0)%
Operating income$223.5 $135.2 65.3 %
(a) Net sales excludes inter-segment sales of $5.5 million and $4.2 million for the first quarter of 2022 and 2021, respectively.
(b) On May 14, 2021, the Company completed the acquisition of FLIR, and the financial results of FLIR have been included since the date of the acquisition. The first quarter of 2022 includes $452.6 million in incremental net sales from FLIR.
(c) Corporate expense for the first quarter of 2021 includes $5.9 million in acquisition-related transaction and purchase accounting expenses related to the FLIR acquisition.
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:April 3, 2022January 2, 2022
Digital Imaging$11,587.1 $11,756.8 
Instrumentation1,634.2 1,640.3 
Aerospace and Defense Electronics528.9 536.3 
Engineered Systems184.3 179.2 
Corporate316.6 317.7 
Total identifiable assets$14,251.1 $14,430.3 
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):
First Quarter
Instrumentation20222021
Marine Instrumentation$111.9 $102.0 
Environmental Instrumentation114.0 114.8 
Test and Measurement Instrumentation83.0 69.7 
Total$308.9 $286.5 
Schedule of Disaggregation of Revenue
We also disaggregate our revenue from contracts with customers by customer 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. With the exception of the Engineered Systems segment, net sales in our segments is primarily derived from fixed price contracts. Net sales in the Engineered Systems segment is typically between 45% and 55% fixed price contracts in a given reporting period, with the balance of net sales derived from cost type contracts. For the three months ended April 3, 2022, approximately 47% of net sales in the Engineered Systems segment were derived from fixed price contracts.
First Quarter Ended April 3, 2022
First Quarter Ended April 4, 2021
Customer TypeCustomer Type
(in millions)United States Government (a)Other, Primarily CommercialTotalUnited States Government (a)Other, Primarily CommercialTotal
Net Sales:
Digital Imaging$141.5 $609.0 $750.5 $32.1 $231.2 $263.3 
Instrumentation22.4 286.5 308.9 22.6 263.9 286.5 
Aerospace and Defense Electronics59.9 106.3 166.2 53.7 97.5 151.2 
Engineered Systems86.4 9.0 95.4 99.2 5.5 104.7 
$310.2 $1,010.8 $1,321.0 $207.6 $598.1 $805.7 
(a) Includes sales as a prime contractor or subcontractor.
First Quarter Ended April 3, 2022
First Quarter Ended April 4, 2021
Geographic Region (a)Geographic Region (a)
(in millions)United StatesEuropeAll otherTotalUnited StatesEuropeAll otherTotal
Net sales:
Digital Imaging$361.1 $200.4 $189.0 $750.5 $80.2 $72.2 $110.9 $263.3 
Instrumentation229.7 57.3 21.9 308.9 213.4 58.6 14.5 286.5 
Aerospace and Defense Electronics142.2 24.0 — 166.2 125.5 25.7 — 151.2 
Engineered Systems95.4 — — 95.4 104.7 — — 104.7 
$828.4 $281.7 $210.9 $1,321.0 $523.8 $156.5 $125.4 $805.7 
(a) Net sales by geographic region of origin.