Teledyne Technologies (TDY) 10-Q30 Jul 212021 Q2 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	6 Months Ended
Cover Page - shares	Jul. 04, 2021	Jul. 29, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jul. 4, 2021
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		46,606,641
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001094285
Current Fiscal Year End Date	--01-02

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) shares in Millions	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020
Income Statement [Abstract]
Net sales	$ 1,121,000,000	$ 743,300,000	$ 1,926,700,000	$ 1,527,900,000
Costs and expenses
Cost of sales	663,100,000	460,600,000	1,155,600,000	953,200,000
Selling, general and administrative expenses	320,700,000	163,200,000	488,900,000	341,600,000
Acquired intangible asset amortization	32,800,000	9,700,000	42,600,000	19,300,000
Total costs and expenses	1,016,600,000	633,500,000	1,687,100,000	1,314,100,000
Operating income	104,400,000	109,800,000	239,600,000	213,800,000
Interest and debt expense, net	(21,200,000)	(3,700,000)	(56,900,000)	(7,800,000)
Non-service retirement benefit income	2,800,000	3,200,000	5,600,000	5,700,000
Other income (expense), net	6,100,000	(1,400,000)	5,100,000	(2,800,000)
Income before income taxes	92,100,000	107,900,000	193,400,000	208,900,000
Provision for income taxes	27,400,000	14,200,000	44,000,000	33,000,000
Total	$ 64,700,000	$ 93,700,000	$ 149,400,000	$ 175,900,000
Basic earnings per common share (in USD per share)	$ 1.52	$ 2.55	$ 3.76	$ 4.81
Weighted average common shares outstanding (in shares)	42.5	36.7	39.7	36.6
Diluted earnings per common share (in USD per share)	$ 1.48	$ 2.48	$ 3.66	$ 4.65
Weighted average diluted common shares outstanding (in shares)	43.6	37.8	40.8	37.8

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 64.7	$ 93.7	$ 149.4	$ 175.9
Other comprehensive income (loss):
Foreign exchange translation adjustment	3.2	1.4	4.2	(59.9)
Hedge activity, net of tax	0.5	3.9	0.4	(2)
Pension and postretirement benefit adjustments, net of tax	4.5	3.2	8.8	6.7
Net other comprehensive income (loss)	8.2	8.5	13.4	(55.2)
Comprehensive income	$ 72.9	$ 102.2	$ 162.8	$ 120.7

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jul. 04, 2021	Jan. 03, 2021
Current Assets
Cash and cash equivalents	$ 695.1	$ 673.1
Accounts receivable, net	679.5	402
Unbilled receivables, net	283.8	222.1
Inventories, net	867.2	347.3
Prepaid expenses and other current assets	125.3	78.1
Total current assets	2,650.9	1,722.6
Property, plant and equipment, net of accumulated depreciation and amortization of $709.6 at July 4, 2021 and $673.4 at January 3, 2021	873	489.3
Goodwill	7,515.9	2,150
Acquired intangibles, net	2,765.8	409.7
Prepaid pension assets	80.6	67.9
Operating lease right-of-use assets	143.1	123.4
Other assets, net	193.6	121.9
Total Assets	14,222.9	5,084.8
Current Liabilities
Accounts payable	399.6	229.1
Accrued liabilities	653.7	434.2
Current portion of long-term debt and other debt	0	97.6
Total current liabilities	1,053.3	760.9
Long-term debt, net of current portion	4,742	680.9
Long-term operating lease liabilities	134.5	116.5
Long-term deferred tax liabilities	628.8	39
Other long-term liabilities	351.9	258.9
Total Liabilities	6,910.5	1,856.2
Commitments and contingencies
Stockholders’ Equity
Preferred stock, $0.01 par value; outstanding shares - none	0	0
Common stock, $0.01 par value; authorized 125,000,000 shares; issued shares: 47,194,766 at July 4, 2021 and 37,697,865 at January 3, 2021; outstanding shares: 46,605,286 at July 4, 2021 and 36,951,607 at January 3, 2021	0.5	0.4
Additional paid-in capital	4,297.4	389.9
Retained earnings	3,477.3	3,327.9
Treasury stock, 589,480 shares at July 4, 2021 and 746,258 shares at January 3, 2021	(46.1)	(59.5)
Accumulated other comprehensive loss	(416.7)	(430.1)
Total Stockholders’ Equity	7,312.4	3,228.6
Total Liabilities and Stockholders’ Equity	$ 14,222.9	$ 5,084.8

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jul. 04, 2021	Jan. 03, 2021
Statement of Financial Position [Abstract]
Accumulated depreciation and amortization	$ 709.6	$ 673.4
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 authorized (in shares)	125,000,000	125,000,000
Common stock, shares, issued (in shares)	47,194,766	37,697,865
Common stock, shares outstanding (in shares)	46,605,286	36,951,607
Treasury stock (in shares)	589,480	746,258

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 Dec. 29, 2019	$ 2,714.7	$ 0.4	$ 360.5	$ (96.4)	$ 2,926	$ (475.8)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	82.2				82.2
Other comprehensive income, net of tax	(63.7)					(63.7)
Treasury stock issued	0		(9.4)	9.4
Stock-based compensation	9.6		9.6
Exercise of stock options	10.2		10.2
Ending balance at Mar. 29, 2020	2,753	0.4	370.9	(87)	3,008.2	(539.5)
Beginning balance at Dec. 29, 2019	2,714.7	0.4	360.5	(96.4)	2,926	(475.8)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	175.9
Other comprehensive income, net of tax	(55.2)
Ending balance at Jun. 28, 2020	2,879.9	0.4	376.2	(67.6)	3,101.9	(531)
Beginning balance at Mar. 29, 2020	2,753	0.4	370.9	(87)	3,008.2	(539.5)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	93.7				93.7
Other comprehensive income, net of tax	8.5					8.5
Treasury stock issued	0		(19.4)	19.4
Stock-based compensation	6.7		6.7
Exercise of stock options	18		18
Ending balance at Jun. 28, 2020	2,879.9	0.4	376.2	(67.6)	3,101.9	(531)
Beginning balance at Jan. 03, 2021	3,228.6	0.4	389.9	(59.5)	3,327.9	(430.1)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	84.7				84.7
Other comprehensive income, net of tax	5.2					5.2
Treasury stock issued	0		(9.3)	9.3
Stock-based compensation	7		7
Exercise of stock options	10.8		10.8
Ending balance at Apr. 04, 2021	3,336.3	0.4	398.4	(50.2)	3,412.6	(424.9)
Beginning balance at Jan. 03, 2021	3,228.6	0.4	389.9	(59.5)	3,327.9	(430.1)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	149.4
Other comprehensive income, net of tax	13.4
Ending balance at Jul. 04, 2021	7,312.4	0.5	4,297.4	(46.1)	3,477.3	(416.7)
Beginning balance at Apr. 04, 2021	3,336.3	0.4	398.4	(50.2)	3,412.6	(424.9)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	64.7				64.7
Other comprehensive income, net of tax	8.2					8.2
Common stock issued	3,889.7	0.1	3,889.6
Treasury stock issued	0		(4.1)	4.1
Stock-based compensation	8.4		8.4
Exercise of stock options	5.1		5.1
Ending balance at Jul. 04, 2021	$ 7,312.4	$ 0.5	$ 4,297.4	$ (46.1)	$ 3,477.3	$ (416.7)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jul. 04, 2021	Jun. 28, 2020
Operating Activities
Net income	$ 149.4	$ 175.9
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and inventory step-up expense	112.4	58.3
Stock-based compensation	16.3	16.2
Bridge financing and debt extinguishment expense	30.5	0
Changes in operating assets and liabilities excluding the effect of business acquired:
Accounts receivable and unbilled receivables	(28)	0.5
Inventories	20.5	(6)
Accounts payable	27.4	(20.4)
Deferred and income taxes receivable/payable, net	(2.6)	28.3
Prepaid expenses and other assets	11.4	10.5
Accrued expenses and other liabilities	(15.5)	(35.5)
Other operating, net	14.4	4.4
Net cash provided by operating activities	336.2	232.2
Investing Activities
Purchases of property, plant and equipment	(38.4)	(36.8)
Purchase of businesses, net of cash acquired	(3,723.4)	(29)
Other investing, net	0	0.1
Net cash used in investing activities	(3,761.8)	(65.7)
Financing Activities
Net payments on senior notes and other debt	(496.5)	(0.4)
Proceeds from other debt	3,975.8	0
Proceeds from exercise of stock options	15.9	28.2
Payments for bridge financing and debt extinguishment	(30.5)	0
Other financing, net	(13.3)	0
Net cash provided by financing activities	3,451.4	27.8
Effect of exchange rate changes on cash	(3.8)	(11)
Change in cash and cash equivalents	22	183.3
Cash and cash equivalents—beginning of period	673.1	199.5
Cash and cash equivalents—end of period	$ 695.1	$ 382.8

General

General	6 Months Ended
General	Jul. 04, 2021
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 January 3, 2021 (“2020 Form 10-K”). In the opinion of Teledyne’s 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 July 4, 2021 and the consolidated results of operations, consolidated comprehensive income for the second quarter and six months ended July 4, 2021 and the consolidated cash flows for the six months then ended. The results of operations and cash flows for the periods ended July 4, 2021 are not necessarily indicative of the results of operations or cash flows to be expected for any subsequent quarter or the full fiscal year. Certain prior year amounts have been reclassified to conform to the current period presentation. The Company now discloses acquired intangible asset amortization on a separate income statement line. Acquired intangible asset amortization was previously included in selling, general and administrative expenses. In addition, the Company now discloses the balance of long-term deferred tax liabilities on the face of the balance sheet. Long-term deferred tax liabilities was previously included in other long-term liabilities. Acquisition of FLIR Systems, Inc. On May 14, 2021, the Company completed the acquisition of FLIR Systems, Inc. (“FLIR”), and the financial results of FLIR have been included since the date of the acquisition. See Note 3 to these Notes to Condensed Consolidated Financial Statements for information regarding the FLIR acquisition. Cash Equivalents

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	6 Months Ended
Accumulated Other Comprehensive Loss	Jul. 04, 2021
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss The changes in AOCI by component, net of tax, for the second quarter and six months ended July 4, 2021 and June 28, 2020 are as follows (in millions): Foreign Currency Translation Cash Flow Hedges and Other Pension and Postretirement Benefits Total Balance as of April 4, 2021 $ (83.6) $ 2.2 $ (343.5) $ (424.9) Other comprehensive income before reclassifications 3.2 2.2 — 5.4 Amounts reclassified from AOCI — (1.7) 4.5 2.8 Net other comprehensive income (loss) 3.2 0.5 4.5 8.2 Balance as of July 4, 2021 $ (80.4) $ 2.7 $ (339.0) $ (416.7) Foreign Currency Translation Cash Flow Hedges and Other Pension and Postretirement Benefits Total Balance as of March 29, 2020 $ (211.7) $ (8.2) $ (319.6) $ (539.5) Other comprehensive income (loss) before reclassifications 1.4 (0.2) — 1.2 Amounts reclassified from AOCI — 4.1 3.2 7.3 Net other comprehensive income 1.4 3.9 3.2 8.5 Balance as of June 28, 2020 $ (210.3) $ (4.3) $ (316.4) $ (531.0) Foreign Currency Translation Cash Flow Hedges and Other Pension and Postretirement Benefits Total Balance as of January 3, 2021 $ (84.6) $ 2.3 $ (347.8) $ (430.1) Other comprehensive income before reclassifications 4.2 11.7 — 15.9 Amounts reclassified from AOCI — (11.3) 8.8 (2.5) Net other comprehensive income 4.2 0.4 8.8 13.4 Balance as of July 4, 2021 $ (80.4) $ 2.7 $ (339.0) $ (416.7) Foreign Currency Translation Cash Flow Hedges and Other Pension and Postretirement Benefits Total Balance as of December 29, 2019 (150.4) (2.3) (323.1) (475.8) Other comprehensive income (loss) before reclassifications (59.9) (3.8) — (63.7) Amounts reclassified from AOCI — 1.8 6.7 8.5 Net other comprehensive income (loss) (59.9) (2.0) 6.7 (55.2) Balance as of June 28, 2020 $ (210.3) $ (4.3) $ (316.4) $ (531.0) The reclassifications out of AOCI to net income for the second quarter and six months ended July 4, 2021 and June 28, 2020 are as follows (in millions): Amount Reclassified from AOCI for the Three Months Ended Amount Reclassified from AOCI for the Three Months Ended Statement of Income July 4, 2021 June 28, 2020 Presentation (Gain) loss on cash flow hedges: Gain recognized in income on derivatives $ (2.2) $ 5.5 See Note 4 Income tax impact 0.5 (1.4) Provision for income taxes Total $ (1.7) $ 4.1 Amortization of defined benefit pension and postretirement plan items: Amortization of prior service cost $ (0.9) $ (1.5) Costs and expenses Amortization of net actuarial loss 6.8 5.7 Costs and expenses Total before tax 5.9 4.2 Income tax impact (1.4) (1.0) Provision for income taxes Total $ 4.5 $ 3.2 Amount Reclassified from AOCI for the Six Months Ended Amount Reclassified from AOCI for the Six Months Ended Statement of Income July 4, 2021 June 28, 2020 Presentation (Gain) loss on cash flow hedges: (Gain) loss recognized in income on derivatives $ (15.1) $ 2.4 See Note 4 Income tax impact 3.8 (0.6) Provision for income taxes Total $ (11.3) $ 1.8 Amortization of defined benefit pension and postretirement plan items: Amortization of prior service cost (1.8) (3.0) Costs and expenses Amortization of net actuarial loss 13.4 11.7 Costs and expenses Total before tax 11.6 8.7 Income tax impact (2.8) (2.0) Provision for income taxes $ 8.8 $ 6.7

Business Combinations, Goodwill

Business Combinations, Goodwill and Acquired Intangible Assets	6 Months Ended
	Jul. 04, 2021
Business Combination and Asset Acquisition [Abstract]
Business Combinations, Goodwill and Acquired Intangible Assets	Business Combinations, Goodwill and Acquired Intangible Assets Acquisition of FLIR Systems, Inc. On May 14, 2021, Teledyne acquired the outstanding stock of FLIR for approximately $8.1 billion, comprising of net cash payments of $3.7 billion, net Teledyne share issuances of $3.9 billion, and the assumption of FLIR debt of $0.5 billion. FLIR stockholders received $28.00 per share in cash and 0.0718 shares of Teledyne common stock for each FLIR share, and Teledyne issued approximately 9.5 million shares at $409.41 per share. In 2021, Teledyne completed various financing activities related to the acquisition of FLIR. See Note 10 to these Notes to Condensed Consolidated Financial Statements for information regarding financing activities undertaken in connection with the FLIR acquisition. Founded in 1978, FLIR is an industrial technology company focused on intelligent sensing solutions for defense and industrial applications. FLIR offers a diversified portfolio that serves a number of applications in government and defense, industrial, and commercial markets. FLIR develops technologies that enhance perception and awareness. FLIR designs, develops, markets, and distributes solutions that detect people, objects and substances that may not be perceived by human senses and improve the way people interact with the world around them. FLIR technologies include thermal imaging systems, visible-light imaging systems, locater systems, measurement and diagnostic systems, and advanced threat-detection solutions. FLIR is part of the Digital Imaging segment. The primary reasons for the FLIR acquisition were as follows: • the synergies in merging with a business that has the same core business model based on proprietary sensor technologies, but with different products and markets; • the opportunity to add new and complementary products with FLIR’s products based on different semiconductor technologies for imaging across different wavelengths than Teledyne products, and the opportunity to serve different customers and applications, with minimal overlapping technologies and markets; • the expectation of combining two businesses that both provide sensors, cameras and sensor systems to customers and both business portfolios being balanced among commercial and government markets and geographies, but with Teledyne primarily producing extremely high-performance infrared detectors used for astronomy and space-based imaging applications compared to FLIR’s products focused on helicopters to soldiers to firefighters throughout commercial tomography and automotive advanced driver systems; • the opportunity to add FLIR’s suite of imaging sensor products based on different semiconductor technologies for different wavelengths to Teledyne’s offerings; The significant factors that resulted in recognition of goodwill were: (a) the purchase price was based on cash flow and return on capital projections assuming integration with our businesses and (b) the calculation of the fair value of tangible and intangible assets acquired that qualified for recognition. Goodwill resulting from the FLIR acquisition will not be deductible for tax purposes. The following table presents the preliminary purchase price allocation for FLIR. We are accounting for the FLIR acquisition under the acquisition method and are required to measure identifiable assets acquired and liabilities assumed of the acquiree at the fair values on the closing date. The Company made an initial allocation of the purchase price at the date of acquisition based upon its understanding of the fair value of the acquired assets and assumed liabilities. As of July 4, 2021, the measurement period (not to exceed one year) is open; therefore, the assets acquired and liabilities assumed related to the FLIR acquisition are subject to adjustment until the end of the respective measurement period. The Company is in the process of specifically identifying the amounts assigned to certain assets, including acquired intangible assets, and liabilities and the related impact on taxes and goodwill for the FLIR acquisition. The Company is in the process of obtaining a third-party valuation of certain intangible assets and tangible assets of FLIR. The fair values of acquired intangibles are determined based on estimates and assumptions that are deemed reasonable by the Company. The amounts recorded as of July 4, 2021 are preliminary since there was insufficient time between the acquisition date and the end of the period to finalize the analysis. Fair values allocated to the assets acquired and liabilities assumed - FLIR (in millions): Cash and cash equivalents $ 287.7 Accounts receivables, net 240.2 Unbilled receivables, net 72.2 Inventories, net 565.8 Prepaid expenses and other current assets 106.3 Total current assets 1,272.2 Property, plant and equipment 394.8 Goodwill 5,377.6 Acquired intangible assets 2,400.0 Other long-term assets 85.8 Total assets acquired 9,530.4 Accounts payable 145.4 Accrued liabilities 239.7 Total current liabilities assumed 385.1 Long-term debt, net 496.8 Long-term deferred tax liabilities 601.3 Other long-term liabilities 138.6 Total liabilities assumed 1,621.8 Consideration transferred $ 7,908.6 Consideration transferred, net of cash acquired (a) $ 7,620.9 (a) The consideration transferred included approximately $3.9 billion of Teledyne shares issued to existing shareholders of the acquired company. This $3.9 billion of equity consideration is a non-cash transaction. An immaterial portion of the cash consideration for certain vested FLIR restricted stock awards was deferred at the election of the award holder and will be paid out in future periods . During fiscal year 2018, the Swedish Tax Authority (“STA”) issued a reassessment of tax for the year ending December 31, 2012 to one of FLIR’s non-operating subsidiaries in Sweden. The reassessment concerns the use of tax credits applied against capital gains pursuant to European Union Council Directive 2009/133/EC, commonly referred to as the EU Merger Directive, and assesses taxes and penalties totaling approximately $357.8 million (Swedish kroner 3.1 billion) as of July 4, 2021. On March 26, 2020, FLIR received an adverse judgment from the First Instance Court of Sweden (the “Court”) regarding the STA’s reassessment. FLIR has appealed the decision to the Administrative Court of Appeal in Stockholm. The Appellate Court hearing has been scheduled for September 15, 2021. Historically, FLIR has not accrued a liability for this matter. No adjustments have been made for this Swedish tax matter in Teledyne’s current preliminary estimates of the purchase price allocation. The final acquisition accounting adjustments for this Swedish tax matter may be materially different, as Teledyne obtains additional information on this matter and as additional information is made known during the post-acquisition measurement period. An adverse resolution to this Swedish tax matter could materially impact cash flow. The following table is a summary at the acquisition date of the acquired intangible assets and weighted average useful life in years for the FLIR acquisition made in 2021 (dollars in millions): Intangibles subject to amortization:(a) Intangible Assets Weighted average useful life in years Proprietary technology $ 1,412.0 10.0 Customer list/relationships 380.0 12.0 Backlog 8.0 0.8 Total intangibles subject to amortization 1,800.0 10.4 Intangibles not subject to amortization:(a) Trademarks 600.0 Total acquired intangible assets $ 2,400.0 a) The amounts recorded as of July 4, 2021 are preliminary since there was insufficient time between the acquisition date and the end of the period to finalize the analysis. With significant operations in the United States, Europe and Canada, FLIR had sales of approximately $1,932.7 million for its fiscal year ended December 31, 2020. FLIR’s results have been included since the date of the acquisition and include $301.4 million in net sales and operating income of $23.8 million, which included $70.2 million in acquisition-related costs. The second quarter of 2021 net sales reflected the historical uneven sales pattern for FLIR which resulted in higher sales in the second half of the quarter. The second quarter of 2021 includes pretax charges of $140.7 million related to the acquisition of FLIR, of which, $23.7 million was recorded to cost of sales and $117.0 million was recorded to selling, general and administrative expenses. Of these amounts, $70.2 million impacted Digital Imaging segment’s operating income. The first six months of 2021 includes pretax charges of $177.2 million related to the acquisition of FLIR, of which, $23.7 million was recorded to cost of sales, $122.9 million was recorded to selling, general and administrative expenses and $30.6 million was recorded to interest and debt expense. Of these amounts, $70.2 million impacted the Digital Imaging segment’s operating income, which included $24.0 million of integration-related costs, $22.8 million in acquired intangible asset amortization expense and $23.4 million in inventory step-up expense. The unaudited proforma information below, as required by GAAP, assumes that FLIR had been acquired at the beginning of the 2020 fiscal year and includes the effect of transaction accounting adjustments. These adjustments include the financing costs associated with debt to fund the acquisition, amortization of acquired intangible assets, depreciation of the fair value step-up of acquired property, plant and equipment, and amortization of inventory fair value step-up (assumed to be fully amortized in 2020) as well as the issuance of Teledyne common stock in connection with the acquisition. These costs are considered non-recurring costs that were necessary to complete the acquisition and are included in the unaudited pro forma condensed combined statement of operations. This unaudited proforma financial information is presented for informational purposes only and is not necessarily indicative of the results of operations that actually would have resulted had the acquisition been in effect at the beginning of the 2020 fiscal year. In addition, the unaudited proforma results are not intended to be a projection of future results and do not reflect any operating efficiencies or cost savings that might be achievable. The following table presents proforma net sales, net income and earnings per share data assuming FLIR was acquired at the beginning of the 2020 fiscal year: Second Quarter (a) Six Months (a) (unaudited - in millions, except per share amounts) 2021 2020 2021 2020 Net sales $ 1,275.0 $ 1,225.3 $ 2,548.0 $ 2,460.8 Net income $ 93.2 $ 91.3 $ 192.3 $ 118.5 Basic earnings per common share $ 2.19 $ 1.98 $ 4.84 $ 2.57 Diluted earnings per common share $ 2.14 $ 1.93 $ 4.71 $ 2.51 (a) The above unaudited proforma information is presented for the FLIR acquisition as it is considered a material acquisition. Acquisition of the OakGate Technology, Inc. On January 5, 2020, we acquired OakGate Technology, Inc. (“OakGate”) for $28.5 million in cash, net of cash acquired. Based in Loomis, California, OakGate provides software and hardware designed to test electronic data storage devices from development through manufacturing and end-use applications. OakGate is part of the Test and Measurement product line of the Instrumentation segment. Teledyne funded the acquisition with cash on hand. The results of the OakGate acquisition have been included in Teledyne’s results since the date of the acquisition. Goodwill resulting from the acquisition of OakGate is not deductible for tax purposes. Goodwill and Acquired Intangible Assets Teledyne’s goodwill was $7,515.9 million at July 4, 2021 and $2,150.0 million at January 3, 2021. The increase in the balance of goodwill in 2021 related to goodwill acquired in the FLIR acquisition. Teledyne’s net acquired intangible assets were $2,765.8 million at July 4, 2021 and $409.7 million at January 3, 2021. The increase in the balance of net acquired intangible assets reflected the acquired intangible assets acquired in the FLIR acquisition. Acquired intangible assets are summarized as follows: July 4, 2021 January 3, 2021 Acquired intangible assets (in millions): Gross carrying amount Accumulated amortization Net carrying amount Gross carrying amount Accumulated amortization Net carrying amount Proprietary technology $ 1,832.0 $ 276.0 $ 1,556.0 $ 420.3 $ 242.7 $ 177.6 Customer list/relationships 548.8 121.9 426.9 168.3 112.8 55.5 Patents 0.6 0.6 — 0.7 0.7 — Non-compete agreements 0.9 0.9 — 0.9 0.9 — Trademarks 4.5 3.8 0.7 4.5 3.6 0.9 Backlog 24.5 17.7 6.8 16.5 16.5 — Total intangibles subject to amortization 2,411.3 420.9 1,990.4 611.2 377.2 234.0 Intangibles not subject to amortization: Trademarks 775.4 — 775.4 175.7 — 175.7 Total acquired intangible assets $ 3,186.7 $ 420.9 $ 2,765.8 $ 786.9 $ 377.2 $ 409.7

Derivative Instruments

Derivative Instruments	6 Months Ended
Derivative Instruments	Jul. 04, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments Teledyne transacts business in various foreign currencies and has international sales and expenses denominated in foreign currencies, subjecting the Company to foreign currency risk. 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 utilizes foreign currency forward contracts to reduce the volatility of cash flows primarily related to forecasted revenues and expenses denominated in Canadian dollars for our Canadian companies, and in British pounds for our UK companies. These contracts are designated and qualify as cash flow hedges. The Company has also converted U.S. dollar denominated, variable rate and fixed rate obligations into euro fixed rate obligations using a receive float, pay fixed cross currency swap, and a receive fixed, pay fixed cross currency swap. These cross currency swaps are designated as cash flow hedges. In addition the Company has converted domestic U.S. variable rate debt to fixed rate debt using a receive variable, pay fixed interest rate swap. The interest rate swap is also designated as a cash flow hedge. The effectiveness of the cash flow hedge forward contracts is assessed prospectively and retrospectively using regression analysis as well as using other timing and probability criteria. To receive hedge accounting treatment, all hedging relationships are formally documented at the inception of the hedges, and hedges must be highly effective in offsetting changes to future cash flows on hedged transactions. The effective portion of the cash flow hedge forward contracts’ gains or losses resulting from changes in the fair value of these hedges is initially reported, net of tax, as a component of AOCI in stockholders’ equity until the underlying hedged item is reflected in our condensed consolidated statements of income, at which time the effective amount in AOCI is reclassified to revenue in our condensed consolidated statements of income. Net deferred gains recorded in AOCI, net of tax, for the forward contracts that will mature in the next twelve months total $3.3 million. 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 swaps and interest rate swap expected to be reclassified from AOCI into income in the next twelve months total $1.3 million. In the event that the underlying forecasted transactions do not occur, or it becomes remote that they will occur, within the defined hedge period, the gains or losses on the related cash flow hedges will be reclassified from AOCI to other income or expense. During the current reporting period, all forecasted transactions occurred and, therefore, there were no such gains or losses reclassified to other income and expense. As of July 4, 2021, Teledyne had foreign currency forward contracts designated as cash flow hedges to buy Canadian dollars and to sell U.S. dollars totaling $96.2 million. These foreign currency forward contracts have maturities ranging from September 2021 to May 2022. Teledyne had foreign currency forward contracts designated as cash flow hedges to buy British pounds and to sell U.S. dollars totaling $19.3 million. These foreign currency forward contracts have maturities ranging from September 2021 to August 2022. The cross currency swaps have notional amounts of €113.0 million and $125.0 million, and €135.0 million and $150.0 million, and matures in March 2023 and October 2024, respectively. The interest rate swap has a notional amount of $125.0 million and matures in March 2023. In addition, Teledyne manages the risk of changes in the fair value of certain monetary liabilities attributable to changes in exchange rates. Teledyne manages these risks by using currency forward contracts formally designated and effective as fair value hedges. Hedge effectiveness is generally determined by evaluating the alignment of the hedging instrument's critical terms with the critical terms of the hedged item. The forward points attributable to the hedging instruments are excluded from the assessment of effectiveness and amortized to other income or expense, net using a systematic and rational methodology. Differences between the change in the fair value of the excluded component and amounts recognized under the systematic and rational method are recognized in other comprehensive income (loss). The change in fair value of the hedging instruments attributable to the hedged risk is reported in the other income or expense, net. The change in fair value of the hedged item attributable to the hedged risk is reported as an adjustment to its carrying value and also in other income or expense, net. At July 4, 2021 Teledyne had forward contracts designated as fair value hedges to sell Swedish Krona and to buy U.S. dollars totaling $170.0 million. These foreign currency forward contracts have maturities ranging from September 2021 to December 2022. The effect of derivative instruments designated as cash flow hedges in the condensed consolidated financial statements for the second quarter and six months ended July 4, 2021 and June 28, 2020 was as follows (in millions): Second Quarter Six Months 2021 2020 2021 2020 Net gain (loss) recognized in AOCI - Foreign Exchange Contracts (a) $ 0.2 $ 0.2 $ 12.7 $ (0.4) Net gain (loss) reclassified from AOCI into COS - Foreign Exchange Contracts (a) $ 3.6 $ (1.6) $ 6.0 $ (1.8) Net gain (loss) recognized in AOCI - Interest Rate Contracts $ (0.1) $ (0.3) — $ (0.2) Net gain (loss) reclassified from AOCI into other income and expense, net - Foreign Exchange Contracts (b) $ (1.8) $ (4.7) $ 8.2 $ (3.0) Net gain reclassified from AOCI into interest expense - Foreign Exchange Contracts $ 0.9 $ 1.0 $ 1.7 $ 2.5 Net loss reclassified from AOCI into interest expense - Interest Rate Contracts $ (0.4) $ (0.6) $ (0.8) $ (4.6) (a) Effective portion, pre-tax (b) Amount reclassified to offset earnings impact of liability hedged by cross currency swap The effect of derivative instruments designated as fair value hedges in the condensed financial statements for the second quarter and six months ended July 4, 2021 and June 28, 2020 was as follows (in millions): Second Quarter Six Months 2021 2020 2021 2020 Net gain recognized in earnings for effective portion - other income and expense, net - Foreign Exchange Contracts $ 7.9 $ — $ 7.9 $ — Net gain recognized in earnings for amounts excluded from effectiveness testing - other income and expense, net - Foreign Exchange Contracts $ 0.1 $ — $ 0.1 $ — Non-Designated Hedging Activities In addition, 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. As of July 4, 2021, Teledyne had non-designated foreign currency contracts of this type, primarily in the following pairs (in millions): Contracts to Buy Contracts to Sell Currency Amount Currency Amount Canadian Dollars $ 106.7 U.S. Dollars US$ 87.1 Canadian Dollars $ 22.3 Euros € 15.2 Great Britain Pounds £ 61.5 U.S. Dollars US$ 86.5 Euros € 141.5 U.S. Dollars US$ 171.7 Danish Krone DKR 324.7 U.S. Dollars US$ 53.0 Swedish Krona SEK 471.8 Euros € 46.8 U.S. Dollars US$ 21.3 Swedish Krona SEK 180.0 Norwegian Krone kr 228.6 Swedish Krona SEK 225.6 The preceding table includes non-designated hedges derived from terms contained in triggered or previously designated cash flow hedges. The gains and losses on these derivatives which are not designated as hedging instruments are intended to, at a minimum, partially offset the transaction gains and losses recognized in earnings. Teledyne does not use foreign currency forward contracts for speculative or trading purposes. The effect of derivative instruments not designated as cash flow hedges recognized in other income and expense for the second quarter and six months ended July 4, 2021 was expense of $4.6 million and expense of $4.8 million, respectively. The effect of derivative instruments not designated as cash flow hedges in other income and expense for the second quarter and six months ended June 28, 2020 was income of $1.8 million and expense of $8.6 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 Company has elected to use the income approach to value the derivatives, using observable Level 2 market expectations at measurement date and standard valuation techniques to convert future amounts to a single present amount. Level 2 inputs for the valuations are limited to quoted prices for similar assets or liabilities in active markets (specifically futures contracts on LIBOR and EURIBOR) and inputs other than quoted prices that are observable for the asset or liability (specifically LIBOR and EURIBOR cash and swap rates, foreign currency forward rates and cross currency basis spreads). Mid-market pricing is used as a practical expedient for fair value measurements. The fair value measurement of an asset or liability must reflect the nonperformance risk of the entity and the counterparty. Therefore, the impact of the counterparty’s creditworthiness when in an asset position and the Company’s creditworthiness when in a liability position has also been factored into the fair value measurement of the derivative instruments and did not have a material impact on the fair value of these derivative instruments. Both the counterparty and the Company are expected to continue to perform under the contractual terms of the instruments. The fair values of the Company’s derivative financial instruments are presented below. All fair values for these derivatives were measured using Level 2 information as defined by the accounting standard hierarchy (in millions): Asset/(Liability) Derivatives Balance sheet location July 4, 2021 January 3, 2021 Derivatives designated as hedging instruments: Cash flow forward contracts Other current assets $ 4.6 $ 7.3 Cash flow forward contracts Accrued liabilities (0.2) — Fair value forward contracts Accrued liabilities (7.0) — Fair value forward contracts Other long-term liabilities (3.1) — Cash flow cross currency swap Other current assets 3.4 3.4 Cash flow cross currency swap Other long-term liabilities (20.6) (29.2) Interest rate contracts Other long-term liabilities (0.9) (1.8) Interest rate contracts Accrued liabilities (1.6) (1.5) Total derivatives designated as hedging instruments (25.4) (21.8) Derivatives not designated as hedging instruments: Non-designated forward contracts Other current assets 4.1 6.7 Non-designated forward contracts Accrued liabilities (12.5) (1.2) Total derivatives not designated as hedging instruments (8.4) 5.5 Total derivatives, net $ (33.8) $ (16.3)

Earnings Per Share

Earnings Per Share	6 Months Ended
Earnings Per Share	Jul. 04, 2021
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share For the second quarter and first six months of 2021, no stock options were excluded in the computation of diluted earnings per share because their inclusion would have been anti-dilutive. For the second quarter and first six months of 2020, 241,931 and 244,192 stock options were excluded in the computation of earnings per share because they had exercise prices that were greater than the weighted average market price of the Company’s common stock price during the respective period. As part of the consideration transferred for the acquisition of FLIR, the Company issued approximately 9.5 million shares on May 14, 2021 which increased the weighted average number of shares during the period. Beginning in the third quarter, the full 9.5 million shares issued will be reflected as outstanding for the entire quarterly period. 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 2021 2020 2021 2020 Weighted average basic common shares outstanding 42.5 36.7 39.7 36.6 Effect of dilutive securities (primarily stock options) 1.1 1.1 1.1 1.2 Weighted average diluted common shares outstanding 43.6 37.8 40.8 37.8

Stock-Based Compensation Plans

Stock-Based Compensation Plans	6 Months Ended
Stock-Based Compensation Plans	Jul. 04, 2021
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation Plans	Stock-Based Compensation Plans Teledyne has long-term incentive plans pursuant to which it has granted non-qualified stock options, restricted stock and performance shares to certain employees. The Company also has non-employee Board of Director stock compensation plans, pursuant to which common stock, stock options and restricted stock units have been issued to its directors. Stock Incentive Plan Stock option compensation expense was $3.6 million for the second quarter of 2021 and was $5.7 million for the second quarter of 2020. Stock option compensation expense was $7.8 million for the first six months of 2021 and was $13.1 million for the first six months of 2020. Employee stock option grants are charged to expense evenly over the three year vesting period except for stock options granted after 2018 to Teledyne’s Executive Chairman and Teledyne’s President and Chief Executive Officer which are expensed immediately. For 2021, the Company currently expects approximately $20.8 million in stock option compensation expense based on stock options outstanding and stock options granted on July 27, 2021. This amount can be impacted by employee retirements and terminations or stock options granted during the remainder of the year. The Company issues shares of common stock upon the exercise of stock options. Stock option transactions for the second quarter and first six months of 2021 are summarized as follows: 2021 Second Quarter Six Months Shares Weighted Shares Weighted Beginning balance 1,721,789 $ 172.23 1,819,147 $ 170.10 Granted 1,708 $ 383.68 1,708 $ 383.68 Exercised (38,185) $ 133.06 (128,295) $ 122.95 Canceled (7,623) $ 314.40 (14,871) $ 308.72 Ending balance 1,677,689 $ 172.69 1,677,689 $ 172.69 Exercisable at end of period 1,413,068 $ 146.51 1,413,068 $ 146.51 On July 27, 2021, the Company granted 198,760 stock options at an exercise price of $441.51 per share and a weighted average fair value of $135.74 per share. Performance Share Plan and Restricted Stock Award Program In the first quarter of 2018, the performance cycle for the three-year period ending December 31, 2020, was set. Under the plan and based on actual performance, Teledyne issued 9,588 shares of its common stock in the first quarter 2021. A total of 35,033 shares remain to be issued in two equal installments in 2022 and 2023. The following table shows the restricted stock activity for the first six months of 2021: Shares Weighted average fair value per share Balance, January 3, 2021 43,405 $ 228.80 Granted (includes restricted stock units converted in connection with the FLIR acquisition) 73,201 $ 399.00 Vested (23,236) $ 254.91 Forfeited/Canceled (929) $ 310.69 Balance, July 4, 2021 92,441 $ 356.19

Inventories

Inventories	6 Months Ended
Inventories	Jul. 04, 2021
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories are stated at current cost, net of reserves for excess, slow moving and obsolete inventory. Inventories are valued under the FIFO method, LIFO method or average cost method. Inventories at cost determined on the average cost or the FIFO methods were $843.1 million at July 4, 2021 and $324.8 million at January 3, 2021. The increase in the inventory balance in 2021 reflects the inventory acquired in connection with the FLIR acquisition. The remainder of the inventories using the LIFO method is $30.6 million at July 4, 2021 and $29.2 million at January 3, 2021. Interim LIFO calculations are based on the Company’s estimates of expected year-end inventory levels and costs since an actual valuation of inventory under the LIFO method can be made only at the end of each year based on the inventory levels and costs at that time. Because these estimates are subject to many factors beyond the Company’s control, interim results are subject to the final year-end LIFO inventory valuation. Balance at Inventories (in millions): July 4, 2021 January 3, 2021 Raw materials and supplies $ 486.3 $ 231.0 Work in process 130.4 60.5 Finished goods 257.0 62.5 873.7 354.0 Reduction to LIFO cost basis (6.5) (6.7) Total inventories, net $ 867.2 $ 347.3

Customer Contracts

Customer Contracts	6 Months Ended
Customer Contracts	Jul. 04, 2021
Revenue from Contract with Customer [Abstract]
Customer Contracts	Customer Contracts Estimate at Completion Process For over time contracts using the cost-to-cost method, we have 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 and cost, and making assumptions for schedule and technical issues. Since certain contracts extend over multiple reporting periods, 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 reviewed and reassessed quarterly. The majority of revenue recognized over time uses an EAC process. The net aggregate effects of changes in estimates on contracts accounted for under the cost-to-cost method in the first six months of 2021 was approximately $11.4 million of favorable operating income, primarily related to favorable changes in estimates that impacted revenue within the Digital Imaging segment. The net aggregate effects of changes in estimates on contracts accounted for under the cost-to-cost method in the first six months of 2020 was approximately $10.2 million of favorable operating income, primarily related to favorable changes in estimates that impacted revenue within the Digital Imaging operating segment. None of the effects of changes in estimates on any individual contract were material to the condensed consolidated statements of income for any period presented. Contract Liabilities We recognize a liability for interim and advance payments in excess of revenue recognized and present it as a contract liability which is included within accrued liabilities and other long-term liabilities on the condensed consolidated balance sheet, which represented $188.7 million and $25.9 million as of July 4, 2021, and $160.1 million and $14.0 million as of January 3, 2021, respectively. The increase in contract liabilities from the beginning of the year primarily related to contract liabilities acquired as part of the acquisition of FLIR. The Company recognized revenue of $84.1 million during the six months ended July 4, 2021 from contract liabilities that existed at the beginning of year. The Company recognizes the incremental costs of obtaining or fulfilling a contract as expense when incurred if the amortization period of the asset is one year or less. Incremental costs to obtain or fulfill contracts with an amortization period greater than one year were not material. 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 excludes unexercised contract options and potential orders under ordering-type contracts (e.g., indefinite-delivery, indefinite-quantity). As of July 4, 2021, the aggregate amount of the transaction price allocated to remaining performance obligations was $2,979.4 million. The Company expects approximately 81% of remaining performance obligations to be recognized into revenue within the next twelve months, with the remaining 19% recognized thereafter. 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 and long-term accrued liabilities on the Condensed Consolidated Balance Sheet. Six Months Warranty Reserve (in millions): 2021 2020 Balance at beginning of year $ 22.4 $ 24.8 Accruals for product warranties charged to expense and other 5.7 0.7 Cost of product warranty claims (4.9) (5.3) Acquisition 23.2 0.1 Balance at end of period $ 46.4 $ 20.3 Accounts Receivable, Net

Income Taxes

Income Taxes	6 Months Ended
Income Taxes	Jul. 04, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The income tax provision is calculated using an estimated annual effective tax rate, based upon expected annual income, permanent items, statutory rates and planned tax strategies in the various jurisdictions in which the Company operates. However, losses in certain jurisdictions and discrete items, such as the resolution of uncertain tax positions, are treated separately. The Company’s effective income tax rate for the second quarter and first six months of 2021 was 29.8% and 22.8%, respectively. The Company ’ s effective income tax rate for the second quarter and first six months of 2020 was 13.2% and 15.8%, respectively. The second quarter of 2021 includes net discrete income tax expense of $4.1 million and the and first six months of 2021 includes net discrete tax benefit of $2.2 million. The second quarter and six months of 2021 net discrete income tax amounts include $2.1 million and $6.9 million, respectively, related to share-based accounting. The second quarter and six months of 2021 net discrete income tax amounts also include $11.5 million expense related to foreign tax rate changes and a $5.3 million income tax benefit related to the release of a valuation allowance. The foreign tax rate changes are a result of the United Kingdom Parliament enacting legislation to increase the corporate tax rate to 25% effective April 2023. The second quarter and first six months of 2020 includes net discrete income tax benefits of $10.4 million and $14.6 million, respectively. The second quarter and six months of 2020 net discrete tax benefits include $9.8 million and $14.5 million, respectively, related to share-based accounting. Excluding the net discrete income tax items in both periods, the effective tax rates would have been 25.3% for the second quarter of 2021 and 23.9% for the first six months of 2021. Excluding the net discrete income tax items in both periods, the effective tax rates would have been 22.8% for both the second quarter and first six months of 2020. During fiscal year 2018, the Swedish Tax Authority (“STA”) issued a reassessment of tax for the year ending December 31, 2012 to one of FLIR’s non-operating subsidiaries in Sweden. The reassessment concerns the use of tax credits applied against capital gains pursuant to European Union Council Directive 2009/133/EC, commonly referred to as the EU Merger Directive, and assesses taxes and penalties totaling approximately $357.8 million (Swedish kroner 3.1 billion) as of July 4, 2021. On March 26, 2020, FLIR received an adverse judgment from the First Instance Court of Sweden (the “Court”) regarding the STA’s reassessment. FLIR has appealed the decision to the Administrative Court of Appeal in Stockholm. The Appellate Court hearing has been scheduled for September 15, 2021. Historically, FLIR has not accrued a liability for this matter. No adjustments have been made for this Swedish tax matter in Teledyne’s current preliminary estimates of the purchase price allocation. The final acquisition accounting adjustments for this Swedish tax matter may be materially different, as Teledyne obtains additional information on this matter and as additional information is made known during the post-acquisition measurement period. An adverse resolution to this Swedish tax matter could materially impact cash flow.

Long-Term Debt and Letters of C

Long-Term Debt and Letters of Credit	6 Months Ended
Long-Term Debt and Letters of Credit	Jul. 04, 2021
Debt Disclosure [Abstract]
Long-Term Debt and Letters of Credit	Long-Term Debt and Letters of Credit Balance at Long-Term Debt (in millions): July 4, 2021 January 3, 2021 $1.15 billion credit facility due March 2026, weighted average variable rate of 1.19% at July 4, 2021 and 1.05% at January 3, 2021 $ 125.0 $ 125.0 Term loan due October 2024, variable rate of 0.98% at July 4, 2021 and 1.15% at January 3, 2021, swapped to a Euro fixed rate of 0.6120% 150.0 150.0 0.65% Fixed Rate Senior Notes due April 2023 300.0 — 0.95% Fixed Rate Senior Notes due April 2024 450.0 — 1.60% Fixed Rate Senior Notes due April 2026 450.0 — 2.25% Fixed Rate Senior Notes due April 2028 700.0 — 2.50% Fixed Rate Senior Notes due August 2030 500.0 — 2.75% Fixed Rate Senior Notes due April 2031 1,100.0 — Term loan due March 2026, variable rate of 1.32% at July 4, 2021 1,000.0 — 3.09% Fixed Rate Senior Notes repaid March 2021 — 95.0 3.28% Fixed Rate Senior Notes repaid March 2021 — 100.0 0.70% €50 Million Fixed Rate Senior Notes repaid March 2021 — 61.1 0.92% €100 Million Fixed Rate Senior Notes repaid March 2021 — 122.1 1.09% €100 Million Fixed Rate Senior Notes repaid March 2021 — 122.1 Other debt 0.8 4.0 Debt discount and debt issuance costs (33.8) (0.8) Total debt, net 4,742.0 778.5 Less: current portion of long-term debt and other debt — (97.6) Total long-term debt, net of current portion $ 4,742.0 $ 680.9 In the first quarter of 2021, Teledyne completed various financing activities related to the acquisition of FLIR and incurred related interest and debt expense totaling $33.1 million. These activities included entering into a $4.5 billion short term stand-by bridge facility on January 4, 2021, as required by the definitive agreement, resulting in debt expense of $17.2 million. In addition, on March 17, 2021 Teledyne called $493.3 million of existing fixed rate senior notes and incurred debt extinguishment expenses of $13.4 million, which is included in interest and debt expense, net. On March 22, 2021, Teledyne completed all permanent financing for the acquisition of FLIR. The permanent financing consists of $3.0 billion investment-grade bonds (the “Notes”), including $300.0 million aggregate principal amount of 0.65% Notes due 2023, $450.0 million aggregate principal amount of 0.95% Notes due 2024, $450.0 million aggregate principal amount of 1.60% Notes due 2026, $700.0 million aggregate principal amount of 2.25% Notes due 2028 and $1.1 billion aggregate principal amount of 2.75% Notes due 2031. We may redeem the $450.0 million of 0.95% Notes due 2024 at any time or from time to time, in whole or in part, at the Company’s option, from and after April 1, 2022, at a redemption price equal to 100% of the principal amount of the Notes redeemed. In addition, we guaranteed $500.0 million of FLIR’s 2.50% Fixed Rate Senior Notes due August 2030. Previously on March 4, 2021, Teledyne entered into a $1.0 billion Term Loan Credit Agreement and Amended and Restated Credit Agreement with capacity of $1.15 billion both maturing on March 4, 2026. The terms of the $1.0 billion Term Loan Credit Agreement allow for prepayments, at the Company’s option, at any time or from time to time, in whole or in part without premium or penalty. As a result of the completion of the permanent debt financing, on March 22, 2021 Teledyne terminated the $4.5 billion stand-by bridge facility. Teledyne used the proceeds from the Notes together with the proceeds from the $1.0 billion Term Loan Credit Agreement and cash on hand to pay the cash portion of the consideration for the FLIR acquisition and refinance certain existing debt. At July 4, 2021, $743.5 million was available under the $1.150 billion credit facility, after reductions of $125.0 million in borrowings and $281.5 million in outstanding letters of credit. The outstanding letters of credit include a $260.0 million letter of credit to the Swedish Tax Authority, related to a disputed 2018 tax reassessment issued to a FLIR subsidiary in Sweden.

Lease Commitments

Lease Commitments	6 Months Ended
Lease Commitments	Jul. 04, 2021
Leases [Abstract]
Lease Commitments	Lease CommitmentsAt July 4, 2021, Teledyne has right-of-use assets of $143.1 million and a total lease liability for operating leases of $165.0 million of which $134.5 million is included in long-term lease liabilities and $30.5 million is included in current accrued liabilities

Lawsuits, Claims, Commitments,

Lawsuits, Claims, Commitments, Contingencies and Related Matters	6 Months Ended
	Jul. 04, 2021
Commitments and Contingencies Disclosure [Abstract]
Lawsuits, Claims, Commitments, Contingencies and Related Matters	Lawsuits, Claims, Commitments, Contingencies and Related Matters For a further description of the Company’s commitments and contingencies, reference is made to Note 14 of the Company’s financial statements as of and for the fiscal year ended January 3, 2021, included in the 2020 Form 10-K. At July 4, 2021, the Company’s reserves for environmental remediation obligations totaled $6.4 million, of which $1.7 million is included in current accrued liabilities. At January 3, 2021, the Company’s reserves for environmental remediation obligations totaled $6.5 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 expend present accruals over many years and will complete remediation of all sites with which it has been identified in up to 30 years. On April 24, 2018, FLIR entered into a Consent Agreement with the United States Department of State’s Directorate of Defense Trade Controls (“DDTC”) to resolve allegations regarding the unauthorized export of technical data and defense services to dual and third country nationals in certain of FLIR’s facilities, the failure to properly use and manage export licenses and export authorizations, and failures to report certain payments under 22 CFR Part 130 in potential violation of ITAR. The Consent Agreement has a four-year term and provides for: (i) a civil penalty of $30.0 million with $15.0 million of this amount suspended on the condition that the funds have or will be used for Department-approved Consent Agreement remedial compliance measures, (ii) the appointment of an external Special Compliance Official to oversee compliance with the Consent Agreement and the ITAR; (iii) two external audits of our ITAR compliance program; and (iv) continued implementation of ongoing remedial compliance measures and additional remedial compliance measures related to automated systems and ITAR compliance policies, procedures, and training. While FLIR has enhanced its trade compliance program more broadly, implemented and continues to implement remedial measures and has undergone its first external audit, adverse findings in the second audit, currently commencing, of FLIR’s ITAR compliance program could materially cause incurrence of additional expenses in connection with implementation of remedial measures and result in a substantial adjustment to our revenue and net income. As of July 4, 2021, FLIR has $3.5 million remaining to be paid under the Consent Agreement. FLIR’s investments to date in remedial compliance measures have been more than sufficient to cover the $15.0 million suspension amount. In June 2017, the Bureau of Industry and Security (“BIS”) of the United States Department of Commerce informed FLIR of additional export licensing requirements that restricted the FLIR’s ability to sell certain thermal products without a license to customers in China not identified on a list maintained by the United States Department of Commerce. This action was precipitated by concerns of sale without a license or potential diversion of some of FLIR’s products to prohibited end users and to countries subject to economic and other sanctions implemented by the United States. BIS subsequently favorably modified these restrictions to reduce the applicability of the restrictions to sales of FLIR's Tau camera cores (as opposed to finished products containing Tau camera cores) to customers in China not identified on a list maintained by the United States Department of Commerce and persons in a country other than those in the Export Administration Regulations ("EAR") Country Group A:5 (Supplement No. 1 to Part 740 of the EAR). FLIR has identified certain shipments that potentially violate these license requirements and voluntary disclosed this matter to BIS. FLIR has made other voluntary disclosures to the U.S. Department of State and U.S. Department of Commerce, including to BIS with respect to the shipments of products from non-U.S. jurisdictions which were not licensed due to incorrect de minimis calculation methodology. If FLIR is found to have violated applicable rules and regulations with respect to customers and limitations on the export and end use of its products, FLIR could be subject to substantial fines and penalties, suspension of existing licenses or other authorizations and/or loss or suspension of export privileges. 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 an outcome becomes estimable or known. During fiscal year 2018, the Swedish Tax Authority (“STA”) issued a reassessment of tax for the year ending December 31, 2012 to one of FLIR’s non-operating subsidiaries in Sweden. The reassessment concerns the use of tax credits applied against capital gains pursuant to European Union Council Directive 2009/133/EC, commonly referred to as the EU Merger Directive, and assesses taxes and penalties totaling approximately $357.8 million (Swedish kroner 3.1 billion) as of July 4, 2021. On March 26, 2020, FLIR received an adverse judgment from the First Instance Court of Sweden (the “Court”) regarding the STA’s reassessment. FLIR has appealed the decision to the Administrative Court of Appeal in Stockholm. The Appellate Court hearing has been scheduled for September 15, 2021. Historically, FLIR has not accrued a liability for this matter. No adjustments have been made for this Swedish tax matter in Teledyne’s current preliminary estimates of the purchase price allocation. The final acquisition accounting adjustments for this Swedish tax matter may be materially different, as Teledyne obtains additional information on this matter and as additional information is made known during the post-acquisition measurement period. An adverse resolution to this Swedish tax matter could materially impact cash flow. In addition, during 2019, the European Commission announced the opening of a separate review to assess whether an excess profit tax ruling granted by Belgium to one of FLIR’s international subsidiaries is in breach of European Union state aid rules. Historically FLIR believed that it had paid all taxes assessed by Belgium in this matter. No adjustments have been made for this Belgium tax matter in Teledyne’s current preliminary estimates of the purchase price allocation. The final acquisition accounting adjustments for this Belgium tax matter may be materially different, as Teledyne obtains additional information on this matter and as additional information is made known during the post-acquisition measurement period..

Pension Plans and Postretiremen

Pension Plans and Postretirement Benefits	6 Months Ended
Pension Plans and Postretirement Benefits	Jul. 04, 2021
Retirement Benefits [Abstract]
Pension Plans and Postretirement Benefits	Pension Plans and Postretirement Benefits For the domestic qualified pension plans, the weighted-average discount rate decreased to 2.64% in 2021, compared with 3.41% for 2020. Teledyne has not made any cash pension contributions to its domestic qualified pension plans since 2013 and no cash pension contributions are planned for 2021. Second Quarter Six Months 2021 2020 2021 2020 Service cost — benefits earned during the period (in millions) $ 2.7 $ 2.6 $ 5.4 $ 5.2 Pension non-service income (in millions): Interest cost on benefit obligation $ 5.6 $ 6.8 $ 11.2 $ 13.7 Expected return on plan assets (14.2) (14.3) (28.5) (28.6) Amortization of prior service cost (0.9) (1.5) (1.7) (3.0) Amortization of net actuarial loss 6.6 5.8 13.3 11.5 Curtailment/settlements — — — 0.7 Pension non-service income $ (2.9) $ (3.2) $ (5.7) $ (5.7)

Segment Information

Segment Information	6 Months Ended
Segment Information	Jul. 04, 2021
Segment Reporting [Abstract]
Segment Information	Segment Information Teledyne is a leading provider of sophisticated instrumentation, digital imaging products and software, 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: Instrumentation; Digital Imaging; Aerospace and Defense Electronics; and Engineered Systems. Segment results includes net sales and operating income by segment but excludes non-service retirement benefit income, equity income or loss, unusual non-recurring legal matter settlements, interest income and expense, gains and losses on the disposition of assets, sublease rental income and non-revenue licensing and royalty income, domestic and foreign income taxes and corporate office expenses. Corporate expense includes various administrative expenses relating to the corporate office and certain non-operating expenses, including certain acquisition-related transaction costs, not allocated to our segments. On May 14, 2021, the Company completed the acquisition of FLIR. The financial results of FLIR have been included since the date of the acquisition and are part of the Digital Imaging segment. See Note 3 to these Notes to Condensed Consolidated Financial Statements for information regarding the FLIR acquisition. As part of a continuing effort to reduce costs and improve operating performance, as well as to respond to the impact of COVID, beginning in 2020, the Company took actions to reduce headcount across various businesses, reducing our exposure to weak end markets, such as commercial aerospace. Teledyne incurred $24.2 million and $25.1 million in expense related to these actions, including facility consolidation expense, for the second quarter and first six months of 2021 respectively, compared with $7.7 million and $11.4 million for the second quarter and first six months of 2020, respectively. The second quarter and first six months of 2021 includes $23.2 million related to FLIR. At July 4, 2021, Teledyne had a liability of approximately $1.0 million included in other current liabilities related to these actions. The following table presents Teledyne’s segment disclosures (dollars in millions): Second Quarter % Six Months % 2021 2020 Change 2021 2020 Change Net sales(a): Digital Imaging (b) $ 579.5 $ 237.6 143.9 % $ 842.8 $ 484.3 74.0 % Instrumentation 291.1 263.1 10.6 % 577.6 548.2 5.4 % Aerospace and Defense Electronics 152.4 143.1 6.5 % 303.6 299.4 1.4 % Engineered Systems 98.0 99.5 (1.5) % 202.7 196.0 3.4 % Total net sales $ 1,121.0 $ 743.3 50.8 % $ 1,926.7 $ 1,527.9 26.1 % Operating income: Digital Imaging (b) $ 84.6 $ 46.8 80.8 % $ 136.6 $ 90.6 50.8 % Instrumentation 64.6 48.5 33.2 % 124.0 99.3 24.9 % Aerospace and Defense Electronics 28.4 17.5 62.3 % 56.7 30.9 83.5 % Engineered Systems 11.0 10.8 1.9 % 25.9 22.2 16.7 % Corporate expense (c) (84.2) (13.8) 510.1 % (103.6) (29.2) 254.8 % Operating income $ 104.4 $ 109.8 (4.9) % $ 239.6 $ 213.8 12.1 % (a) Net sales excludes inter-segment sales of $5.1 million and $9.3 million for the second quarter and first six months of 2021, respectively, and $5.5 million and $12.4 million for the second quarter and first six months of 2020, respectively. (b) On May 14, 2021, the Company completed the acquisition of FLIR, and the 2021 financial results of FLIR have been included since the date of the acquisition. (c) Corporate expense for the second quarter and first six months of 2021 includes $70.5 million and $76.4 million, respectively, 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: July 4, 2021 January 3, 2021 Digital Imaging (a) $ 11,613.3 $ 2,000.8 Instrumentation 1,660.7 1,676.2 Aerospace and Defense Electronics 533.1 567.6 Engineered Systems 156.4 175.1 Corporate 259.4 665.1 Total identifiable assets $ 14,222.9 $ 5,084.8 (a) The increase from January 3, 2021 was primarily due to assets acquired, including goodwill and acquired intangible assets, acquired in connection with the May 2021 FLIR acquisition. Product Lines The Instrumentation segment includes three product lines: Marine Instrumentation, Environmental Instrumentation and Test and Measurement Instrumentation. Teledyne’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 2021 2020 2020 2020 Marine Instrumentation $ 104.9 $ 109.9 $ 206.9 $ 219.2 Environmental Instrumentation 112.8 94.3 227.6 203.6 Test and Measurement Instrumentation 73.4 58.9 143.1 125.4 Total $ 291.1 $ 263.1 $ 577.6 $ 548.2 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 six months ended July 4, 2021, approximately 47% of net sales in the Engineered Systems segment was derived from fixed price contracts. Second Quarter Ended July 4, 2021 Six Months Ended July 4, 2021 Customer Type Customer Type (in millions) United States Government (a) Other, Primarily Commercial Total United States Government (a) Other, Primarily Commercial Total Net Sales: Digital Imaging $ 112.8 $ 466.7 $ 579.5 $ 144.9 $ 697.9 $ 842.8 Instrumentation 20.8 270.3 291.1 43.4 534.2 577.6 Aerospace and Defense Electronics 54.9 97.5 152.4 108.6 195.0 303.6 Engineered Systems 88.4 9.6 98.0 187.6 15.1 202.7 $ 276.9 $ 844.1 $ 1,121.0 $ 484.5 $ 1,442.2 $ 1,926.7 (a) Includes sales as a prime contractor or subcontractor. Second Quarter Ended July 4, 2021 Six Months Ended July 4, 2021 Geographic Region (a) Geographic Region (a) (in millions) United States Europe All other Total United States Europe All other Total Net sales: Digital Imaging $ 265.8 $ 163.1 $ 150.6 $ 579.5 $ 346.0 $ 235.3 $ 261.5 $ 842.8 Instrumentation 218.4 60.5 12.2 291.1 431.8 119.1 26.7 577.6 Aerospace and Defense Electronics 126.9 25.5 — 152.4 252.4 51.2 — 303.6 Engineered Systems 98.0 — — 98.0 202.7 — — 202.7 $ 709.1 $ 249.1 $ 162.8 $ 1,121.0 $ 1,232.9 $ 405.6 $ 288.2 $ 1,926.7 (a) Net sales by geographic region of origin. 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: Digital Imaging $ 30.1 $ 207.5 $ 237.6 $ 59.4 $ 424.9 $ 484.3 Instrumentation 21.4 241.7 263.1 35.5 512.7 548.2 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 Geographic Region (a) Geographic Region (a) (in millions) United States Europe All other Total United States Europe All other Total Net sales: Digital Imaging $ 78.0 $ 61.8 $ 97.8 $ 237.6 $ 155.6 $ 130.6 $ 198.1 $ 484.3 Instrumentation 211.3 43.1 8.7 263.1 429.1 98.0 21.1 548.2 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.

General (Policies)

General (Policies)	6 Months Ended
General (Policies)	Jul. 04, 2021
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 January 3, 2021 (“2020 Form 10-K”). In the opinion of Teledyne’s 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 July 4, 2021 and the consolidated results of operations, consolidated comprehensive income for the second quarter and six months ended July 4, 2021 and the consolidated cash flows for the six months then ended. The results of operations and cash flows for the periods ended July 4, 2021 are not necessarily indicative of the results of operations or cash flows to be expected for any subsequent quarter or the full fiscal year. Certain prior year amounts have been reclassified to conform to the current period presentation. The Company now discloses acquired intangible asset amortization on a separate income statement line. Acquired intangible asset amortization was previously included in selling, general and administrative expenses. In addition, the Company now discloses the balance of long-term deferred tax liabilities on the face of the balance sheet. Long-term deferred tax liabilities was previously included in other long-term liabilities. Acquisition of FLIR Systems, Inc. On May 14, 2021, the Company completed the acquisition of FLIR Systems, Inc. (“FLIR”), and the financial results of FLIR have been included since the date of the acquisition. See Note 3 to these Notes to Condensed Consolidated Financial Statements for information regarding the FLIR acquisition.
Cash Equivalents	Cash EquivalentsCash equivalents consist of highly liquid money-market mutual funds and bank deposits with maturities of three months or less when purchased.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
Accumulated Other Comprehensive Loss (Tables)	Jul. 04, 2021
Equity [Abstract]
Changes in AOCI by Component	The changes in AOCI by component, net of tax, for the second quarter and six months ended July 4, 2021 and June 28, 2020 are as follows (in millions): Foreign Currency Translation Cash Flow Hedges and Other Pension and Postretirement Benefits Total Balance as of April 4, 2021 $ (83.6) $ 2.2 $ (343.5) $ (424.9) Other comprehensive income before reclassifications 3.2 2.2 — 5.4 Amounts reclassified from AOCI — (1.7) 4.5 2.8 Net other comprehensive income (loss) 3.2 0.5 4.5 8.2 Balance as of July 4, 2021 $ (80.4) $ 2.7 $ (339.0) $ (416.7) Foreign Currency Translation Cash Flow Hedges and Other Pension and Postretirement Benefits Total Balance as of March 29, 2020 $ (211.7) $ (8.2) $ (319.6) $ (539.5) Other comprehensive income (loss) before reclassifications 1.4 (0.2) — 1.2 Amounts reclassified from AOCI — 4.1 3.2 7.3 Net other comprehensive income 1.4 3.9 3.2 8.5 Balance as of June 28, 2020 $ (210.3) $ (4.3) $ (316.4) $ (531.0) Foreign Currency Translation Cash Flow Hedges and Other Pension and Postretirement Benefits Total Balance as of January 3, 2021 $ (84.6) $ 2.3 $ (347.8) $ (430.1) Other comprehensive income before reclassifications 4.2 11.7 — 15.9 Amounts reclassified from AOCI — (11.3) 8.8 (2.5) Net other comprehensive income 4.2 0.4 8.8 13.4 Balance as of July 4, 2021 $ (80.4) $ 2.7 $ (339.0) $ (416.7) Foreign Currency Translation Cash Flow Hedges and Other Pension and Postretirement Benefits Total Balance as of December 29, 2019 (150.4) (2.3) (323.1) (475.8) Other comprehensive income (loss) before reclassifications (59.9) (3.8) — (63.7) Amounts reclassified from AOCI — 1.8 6.7 8.5 Net other comprehensive income (loss) (59.9) (2.0) 6.7 (55.2) Balance as of June 28, 2020 $ (210.3) $ (4.3) $ (316.4) $ (531.0)
Reclassification out of Accumulated Other Comprehensive Income	The reclassifications out of AOCI to net income for the second quarter and six months ended July 4, 2021 and June 28, 2020 are as follows (in millions): Amount Reclassified from AOCI for the Three Months Ended Amount Reclassified from AOCI for the Three Months Ended Statement of Income July 4, 2021 June 28, 2020 Presentation (Gain) loss on cash flow hedges: Gain recognized in income on derivatives $ (2.2) $ 5.5 See Note 4 Income tax impact 0.5 (1.4) Provision for income taxes Total $ (1.7) $ 4.1 Amortization of defined benefit pension and postretirement plan items: Amortization of prior service cost $ (0.9) $ (1.5) Costs and expenses Amortization of net actuarial loss 6.8 5.7 Costs and expenses Total before tax 5.9 4.2 Income tax impact (1.4) (1.0) Provision for income taxes Total $ 4.5 $ 3.2 Amount Reclassified from AOCI for the Six Months Ended Amount Reclassified from AOCI for the Six Months Ended Statement of Income July 4, 2021 June 28, 2020 Presentation (Gain) loss on cash flow hedges: (Gain) loss recognized in income on derivatives $ (15.1) $ 2.4 See Note 4 Income tax impact 3.8 (0.6) Provision for income taxes Total $ (11.3) $ 1.8 Amortization of defined benefit pension and postretirement plan items: Amortization of prior service cost (1.8) (3.0) Costs and expenses Amortization of net actuarial loss 13.4 11.7 Costs and expenses Total before tax 11.6 8.7 Income tax impact (2.8) (2.0) Provision for income taxes $ 8.8 $ 6.7

Business Combinations, Goodwi_2

Business Combinations, Goodwill and Acquired Intangible Assets (Tables)	6 Months Ended
	Jul. 04, 2021
Business Combination and Asset Acquisition [Abstract]
Estimated Fair Values of the Assets Acquired and Liabilities Assumed	Fair values allocated to the assets acquired and liabilities assumed - FLIR (in millions): Cash and cash equivalents $ 287.7 Accounts receivables, net 240.2 Unbilled receivables, net 72.2 Inventories, net 565.8 Prepaid expenses and other current assets 106.3 Total current assets 1,272.2 Property, plant and equipment 394.8 Goodwill 5,377.6 Acquired intangible assets 2,400.0 Other long-term assets 85.8 Total assets acquired 9,530.4 Accounts payable 145.4 Accrued liabilities 239.7 Total current liabilities assumed 385.1 Long-term debt, net 496.8 Long-term deferred tax liabilities 601.3 Other long-term liabilities 138.6 Total liabilities assumed 1,621.8 Consideration transferred $ 7,908.6 Consideration transferred, net of cash acquired (a) $ 7,620.9 (a) The consideration transferred included approximately $3.9 billion of Teledyne shares issued to existing shareholders of the acquired company. This $3.9 billion of equity consideration is a non-cash transaction. An immaterial portion of the cash consideration for certain vested FLIR restricted stock awards was deferred at the election of the award holder and will be paid out in future periods .
Acquired Intangible Assets	The following table is a summary at the acquisition date of the acquired intangible assets and weighted average useful life in years for the FLIR acquisition made in 2021 (dollars in millions): Intangibles subject to amortization:(a) Intangible Assets Weighted average useful life in years Proprietary technology $ 1,412.0 10.0 Customer list/relationships 380.0 12.0 Backlog 8.0 0.8 Total intangibles subject to amortization 1,800.0 10.4 Intangibles not subject to amortization:(a) Trademarks 600.0 Total acquired intangible assets $ 2,400.0 a) The amounts recorded as of July 4, 2021 are preliminary since there was insufficient time between the acquisition date and the end of the period to finalize the analysis.
Pro Forma Information	The following table presents proforma net sales, net income and earnings per share data assuming FLIR was acquired at the beginning of the 2020 fiscal year: Second Quarter (a) Six Months (a) (unaudited - in millions, except per share amounts) 2021 2020 2021 2020 Net sales $ 1,275.0 $ 1,225.3 $ 2,548.0 $ 2,460.8 Net income $ 93.2 $ 91.3 $ 192.3 $ 118.5 Basic earnings per common share $ 2.19 $ 1.98 $ 4.84 $ 2.57 Diluted earnings per common share $ 2.14 $ 1.93 $ 4.71 $ 2.51 (a) The above unaudited proforma information is presented for the FLIR acquisition as it is considered a material acquisition.
Schedule of Acquired Intangible Assets	Acquired intangible assets are summarized as follows: July 4, 2021 January 3, 2021 Acquired intangible assets (in millions): Gross carrying amount Accumulated amortization Net carrying amount Gross carrying amount Accumulated amortization Net carrying amount Proprietary technology $ 1,832.0 $ 276.0 $ 1,556.0 $ 420.3 $ 242.7 $ 177.6 Customer list/relationships 548.8 121.9 426.9 168.3 112.8 55.5 Patents 0.6 0.6 — 0.7 0.7 — Non-compete agreements 0.9 0.9 — 0.9 0.9 — Trademarks 4.5 3.8 0.7 4.5 3.6 0.9 Backlog 24.5 17.7 6.8 16.5 16.5 — Total intangibles subject to amortization 2,411.3 420.9 1,990.4 611.2 377.2 234.0 Intangibles not subject to amortization: Trademarks 775.4 — 775.4 175.7 — 175.7 Total acquired intangible assets $ 3,186.7 $ 420.9 $ 2,765.8 $ 786.9 $ 377.2 $ 409.7

Derivative Instruments (Tables)

Derivative Instruments (Tables)	6 Months Ended
Derivative Instruments (Tables)	Jul. 04, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
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 July 4, 2021 and June 28, 2020 was as follows (in millions): Second Quarter Six Months 2021 2020 2021 2020 Net gain (loss) recognized in AOCI - Foreign Exchange Contracts (a) $ 0.2 $ 0.2 $ 12.7 $ (0.4) Net gain (loss) reclassified from AOCI into COS - Foreign Exchange Contracts (a) $ 3.6 $ (1.6) $ 6.0 $ (1.8) Net gain (loss) recognized in AOCI - Interest Rate Contracts $ (0.1) $ (0.3) — $ (0.2) Net gain (loss) reclassified from AOCI into other income and expense, net - Foreign Exchange Contracts (b) $ (1.8) $ (4.7) $ 8.2 $ (3.0) Net gain reclassified from AOCI into interest expense - Foreign Exchange Contracts $ 0.9 $ 1.0 $ 1.7 $ 2.5 Net loss reclassified from AOCI into interest expense - Interest Rate Contracts $ (0.4) $ (0.6) $ (0.8) $ (4.6) (a) Effective portion, pre-tax (b) Amount reclassified to offset earnings impact of liability hedged by cross currency swap The effect of derivative instruments designated as fair value hedges in the condensed financial statements for the second quarter and six months ended July 4, 2021 and June 28, 2020 was as follows (in millions): Second Quarter Six Months 2021 2020 2021 2020 Net gain recognized in earnings for effective portion - other income and expense, net - Foreign Exchange Contracts $ 7.9 $ — $ 7.9 $ — Net gain recognized in earnings for amounts excluded from effectiveness testing - other income and expense, net - Foreign Exchange Contracts $ 0.1 $ — $ 0.1 $ —
Schedule of Notional Amounts of Outstanding Foreign Currency Contracts	As of July 4, 2021, Teledyne had non-designated foreign currency contracts of this type, primarily in the following pairs (in millions): Contracts to Buy Contracts to Sell Currency Amount Currency Amount Canadian Dollars $ 106.7 U.S. Dollars US$ 87.1 Canadian Dollars $ 22.3 Euros € 15.2 Great Britain Pounds £ 61.5 U.S. Dollars US$ 86.5 Euros € 141.5 U.S. Dollars US$ 171.7 Danish Krone DKR 324.7 U.S. Dollars US$ 53.0 Swedish Krona SEK 471.8 Euros € 46.8 U.S. Dollars US$ 21.3 Swedish Krona SEK 180.0 Norwegian Krone kr 228.6 Swedish Krona SEK 225.6
Fair Values of Derivative Financial Instruments	The fair values of the Company’s derivative financial instruments are presented below. All fair values for these derivatives were measured using Level 2 information as defined by the accounting standard hierarchy (in millions): Asset/(Liability) Derivatives Balance sheet location July 4, 2021 January 3, 2021 Derivatives designated as hedging instruments: Cash flow forward contracts Other current assets $ 4.6 $ 7.3 Cash flow forward contracts Accrued liabilities (0.2) — Fair value forward contracts Accrued liabilities (7.0) — Fair value forward contracts Other long-term liabilities (3.1) — Cash flow cross currency swap Other current assets 3.4 3.4 Cash flow cross currency swap Other long-term liabilities (20.6) (29.2) Interest rate contracts Other long-term liabilities (0.9) (1.8) Interest rate contracts Accrued liabilities (1.6) (1.5) Total derivatives designated as hedging instruments (25.4) (21.8) Derivatives not designated as hedging instruments: Non-designated forward contracts Other current assets 4.1 6.7 Non-designated forward contracts Accrued liabilities (12.5) (1.2) Total derivatives not designated as hedging instruments (8.4) 5.5 Total derivatives, net $ (33.8) $ (16.3)

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
Earnings Per Share (Tables)	Jul. 04, 2021
Earnings Per Share [Abstract]
Computations 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 2021 2020 2021 2020 Weighted average basic common shares outstanding 42.5 36.7 39.7 36.6 Effect of dilutive securities (primarily stock options) 1.1 1.1 1.1 1.2 Weighted average diluted common shares outstanding 43.6 37.8 40.8 37.8

Stock-Based Compensation Plans

Stock-Based Compensation Plans (Tables)	6 Months Ended
Stock-Based Compensation Plans (Tables)	Jul. 04, 2021
Share-based Payment Arrangement [Abstract]
Stock Option Transactions for Employee Stock Option Plans	Stock option transactions for the second quarter and first six months of 2021 are summarized as follows: 2021 Second Quarter Six Months Shares Weighted Shares Weighted Beginning balance 1,721,789 $ 172.23 1,819,147 $ 170.10 Granted 1,708 $ 383.68 1,708 $ 383.68 Exercised (38,185) $ 133.06 (128,295) $ 122.95 Canceled (7,623) $ 314.40 (14,871) $ 308.72 Ending balance 1,677,689 $ 172.69 1,677,689 $ 172.69 Exercisable at end of period 1,413,068 $ 146.51 1,413,068 $ 146.51
Schedule of Restricted Stock Activity	The following table shows the restricted stock activity for the first six months of 2021: Shares Weighted average fair value per share Balance, January 3, 2021 43,405 $ 228.80 Granted (includes restricted stock units converted in connection with the FLIR acquisition) 73,201 $ 399.00 Vested (23,236) $ 254.91 Forfeited/Canceled (929) $ 310.69 Balance, July 4, 2021 92,441 $ 356.19

Inventories (Tables)

Inventories (Tables)	6 Months Ended
Inventories (Tables)	Jul. 04, 2021
Inventory Disclosure [Abstract]
Inventories	Balance at Inventories (in millions): July 4, 2021 January 3, 2021 Raw materials and supplies $ 486.3 $ 231.0 Work in process 130.4 60.5 Finished goods 257.0 62.5 873.7 354.0 Reduction to LIFO cost basis (6.5) (6.7) Total inventories, net $ 867.2 $ 347.3

Customer Contracts (Tables)

Customer Contracts (Tables)	6 Months Ended
Customer Contracts (Tables)	Jul. 04, 2021
Revenue from Contract with Customer [Abstract]
Schedule of Warranty Reserve	Six Months Warranty Reserve (in millions): 2021 2020 Balance at beginning of year $ 22.4 $ 24.8 Accruals for product warranties charged to expense and other 5.7 0.7 Cost of product warranty claims (4.9) (5.3) Acquisition 23.2 0.1 Balance at end of period $ 46.4 $ 20.3

Long-Term Debt and Letters of_2

Long-Term Debt and Letters of Credit (Tables)	6 Months Ended
Long-Term Debt and Letters of Credit (Tables)	Jul. 04, 2021
Debt Disclosure [Abstract]
Summary of Long-Term Debt	Balance at Long-Term Debt (in millions): July 4, 2021 January 3, 2021 $1.15 billion credit facility due March 2026, weighted average variable rate of 1.19% at July 4, 2021 and 1.05% at January 3, 2021 $ 125.0 $ 125.0 Term loan due October 2024, variable rate of 0.98% at July 4, 2021 and 1.15% at January 3, 2021, swapped to a Euro fixed rate of 0.6120% 150.0 150.0 0.65% Fixed Rate Senior Notes due April 2023 300.0 — 0.95% Fixed Rate Senior Notes due April 2024 450.0 — 1.60% Fixed Rate Senior Notes due April 2026 450.0 — 2.25% Fixed Rate Senior Notes due April 2028 700.0 — 2.50% Fixed Rate Senior Notes due August 2030 500.0 — 2.75% Fixed Rate Senior Notes due April 2031 1,100.0 — Term loan due March 2026, variable rate of 1.32% at July 4, 2021 1,000.0 — 3.09% Fixed Rate Senior Notes repaid March 2021 — 95.0 3.28% Fixed Rate Senior Notes repaid March 2021 — 100.0 0.70% €50 Million Fixed Rate Senior Notes repaid March 2021 — 61.1 0.92% €100 Million Fixed Rate Senior Notes repaid March 2021 — 122.1 1.09% €100 Million Fixed Rate Senior Notes repaid March 2021 — 122.1 Other debt 0.8 4.0 Debt discount and debt issuance costs (33.8) (0.8) Total debt, net 4,742.0 778.5 Less: current portion of long-term debt and other debt — (97.6) Total long-term debt, net of current portion $ 4,742.0 $ 680.9

Pension Plans and Postretirem_2

Pension Plans and Postretirement Benefits (Tables)	6 Months Ended
Pension Plans and Postretirement Benefits (Tables)	Jul. 04, 2021
Retirement Benefits [Abstract]
Defined Benefit Pension Plans and Postretirement Benefit Plans	Second Quarter Six Months 2021 2020 2021 2020 Service cost — benefits earned during the period (in millions) $ 2.7 $ 2.6 $ 5.4 $ 5.2 Pension non-service income (in millions): Interest cost on benefit obligation $ 5.6 $ 6.8 $ 11.2 $ 13.7 Expected return on plan assets (14.2) (14.3) (28.5) (28.6) Amortization of prior service cost (0.9) (1.5) (1.7) (3.0) Amortization of net actuarial loss 6.6 5.8 13.3 11.5 Curtailment/settlements — — — 0.7 Pension non-service income $ (2.9) $ (3.2) $ (5.7) $ (5.7)

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
Segment Information (Tables)	Jul. 04, 2021
Segment Reporting [Abstract]
Summary of Industry Segment Disclosures	The following table presents Teledyne’s segment disclosures (dollars in millions): Second Quarter % Six Months % 2021 2020 Change 2021 2020 Change Net sales(a): Digital Imaging (b) $ 579.5 $ 237.6 143.9 % $ 842.8 $ 484.3 74.0 % Instrumentation 291.1 263.1 10.6 % 577.6 548.2 5.4 % Aerospace and Defense Electronics 152.4 143.1 6.5 % 303.6 299.4 1.4 % Engineered Systems 98.0 99.5 (1.5) % 202.7 196.0 3.4 % Total net sales $ 1,121.0 $ 743.3 50.8 % $ 1,926.7 $ 1,527.9 26.1 % Operating income: Digital Imaging (b) $ 84.6 $ 46.8 80.8 % $ 136.6 $ 90.6 50.8 % Instrumentation 64.6 48.5 33.2 % 124.0 99.3 24.9 % Aerospace and Defense Electronics 28.4 17.5 62.3 % 56.7 30.9 83.5 % Engineered Systems 11.0 10.8 1.9 % 25.9 22.2 16.7 % Corporate expense (c) (84.2) (13.8) 510.1 % (103.6) (29.2) 254.8 % Operating income $ 104.4 $ 109.8 (4.9) % $ 239.6 $ 213.8 12.1 % (a) Net sales excludes inter-segment sales of $5.1 million and $9.3 million for the second quarter and first six months of 2021, respectively, and $5.5 million and $12.4 million for the second quarter and first six months of 2020, respectively. (b) On May 14, 2021, the Company completed the acquisition of FLIR, and the 2021 financial results of FLIR have been included since the date of the acquisition. (c) Corporate expense for the second quarter and first six months of 2021 includes $70.5 million and $76.4 million, respectively, 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: July 4, 2021 January 3, 2021 Digital Imaging (a) $ 11,613.3 $ 2,000.8 Instrumentation 1,660.7 1,676.2 Aerospace and Defense Electronics 533.1 567.6 Engineered Systems 156.4 175.1 Corporate 259.4 665.1 Total identifiable assets $ 14,222.9 $ 5,084.8
Summary 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 2021 2020 2020 2020 Marine Instrumentation $ 104.9 $ 109.9 $ 206.9 $ 219.2 Environmental Instrumentation 112.8 94.3 227.6 203.6 Test and Measurement Instrumentation 73.4 58.9 143.1 125.4 Total $ 291.1 $ 263.1 $ 577.6 $ 548.2
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 six months ended July 4, 2021, approximately 47% of net sales in the Engineered Systems segment was derived from fixed price contracts. Second Quarter Ended July 4, 2021 Six Months Ended July 4, 2021 Customer Type Customer Type (in millions) United States Government (a) Other, Primarily Commercial Total United States Government (a) Other, Primarily Commercial Total Net Sales: Digital Imaging $ 112.8 $ 466.7 $ 579.5 $ 144.9 $ 697.9 $ 842.8 Instrumentation 20.8 270.3 291.1 43.4 534.2 577.6 Aerospace and Defense Electronics 54.9 97.5 152.4 108.6 195.0 303.6 Engineered Systems 88.4 9.6 98.0 187.6 15.1 202.7 $ 276.9 $ 844.1 $ 1,121.0 $ 484.5 $ 1,442.2 $ 1,926.7 (a) Includes sales as a prime contractor or subcontractor. Second Quarter Ended July 4, 2021 Six Months Ended July 4, 2021 Geographic Region (a) Geographic Region (a) (in millions) United States Europe All other Total United States Europe All other Total Net sales: Digital Imaging $ 265.8 $ 163.1 $ 150.6 $ 579.5 $ 346.0 $ 235.3 $ 261.5 $ 842.8 Instrumentation 218.4 60.5 12.2 291.1 431.8 119.1 26.7 577.6 Aerospace and Defense Electronics 126.9 25.5 — 152.4 252.4 51.2 — 303.6 Engineered Systems 98.0 — — 98.0 202.7 — — 202.7 $ 709.1 $ 249.1 $ 162.8 $ 1,121.0 $ 1,232.9 $ 405.6 $ 288.2 $ 1,926.7 (a) Net sales by geographic region of origin. 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: Digital Imaging $ 30.1 $ 207.5 $ 237.6 $ 59.4 $ 424.9 $ 484.3 Instrumentation 21.4 241.7 263.1 35.5 512.7 548.2 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 Geographic Region (a) Geographic Region (a) (in millions) United States Europe All other Total United States Europe All other Total Net sales: Digital Imaging $ 78.0 $ 61.8 $ 97.8 $ 237.6 $ 155.6 $ 130.6 $ 198.1 $ 484.3 Instrumentation 211.3 43.1 8.7 263.1 429.1 98.0 21.1 548.2 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.

General (Details)

General (Details) - USD ($) $ in Millions	Jul. 04, 2021	Jan. 03, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash equivalents	$ 160.1	$ 471

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss - Changes in AOCI by Component (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jul. 04, 2021	Apr. 04, 2021	Jun. 28, 2020	Mar. 29, 2020	Jul. 04, 2021	Jun. 28, 2020
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	$ 3,336.3	$ 3,228.6	$ 2,753	$ 2,714.7	$ 3,228.6	$ 2,714.7
Other comprehensive income (loss) before reclassifications	5.4		1.2		15.9	(63.7)
Amounts reclassified from AOCI	2.8		7.3		(2.5)	8.5
Net other comprehensive income (loss)	8.2	5.2	8.5	(63.7)	13.4	(55.2)
Ending balance	7,312.4	3,336.3	2,879.9	2,753	7,312.4	2,879.9
Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(83.6)	(84.6)	(211.7)	(150.4)	(84.6)	(150.4)
Other comprehensive income (loss) before reclassifications	3.2		1.4		4.2	(59.9)
Amounts reclassified from AOCI	0		0		0	0
Net other comprehensive income (loss)	3.2		1.4		4.2	(59.9)
Ending balance	(80.4)	(83.6)	(210.3)	(211.7)	(80.4)	(210.3)
Cash Flow Hedges and Other
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	2.2	2.3	(8.2)	(2.3)	2.3	(2.3)
Other comprehensive income (loss) before reclassifications	2.2		(0.2)		11.7	(3.8)
Amounts reclassified from AOCI	(1.7)		4.1		(11.3)	1.8
Net other comprehensive income (loss)	0.5		3.9		0.4	(2)
Ending balance	2.7	2.2	(4.3)	(8.2)	2.7	(4.3)
Pension and Postretirement Benefits
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(343.5)	(347.8)	(319.6)	(323.1)	(347.8)	(323.1)
Other comprehensive income (loss) before reclassifications	0		0		0	0
Amounts reclassified from AOCI	4.5		3.2		8.8	6.7
Net other comprehensive income (loss)	4.5		3.2		8.8	6.7
Ending balance	(339)	(343.5)	(316.4)	(319.6)	(339)	(316.4)
Total
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(424.9)	(430.1)	(539.5)	(475.8)	(430.1)	(475.8)
Net other comprehensive income (loss)	8.2	5.2	8.5	(63.7)
Ending balance	$ (416.7)	$ (424.9)	$ (531)	$ (539.5)	$ (416.7)	$ (531)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss - Reclassifications Out of Accumulated OCI (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jul. 04, 2021	Apr. 04, 2021	Jun. 28, 2020	Mar. 29, 2020	Jul. 04, 2021	Jun. 28, 2020
(Gain) loss on cash flow hedges:
Gain recognized in income on derivatives	$ (663.1)		$ (460.6)		$ (1,155.6)	$ (953.2)
Income tax impact	(27.4)		(14.2)		(44)	(33)
Total	64.7	$ 84.7	93.7	$ 82.2	149.4	175.9
Amortization of defined benefit pension and postretirement plan items:
Amortization of defined benefit pension and postretirement plan items	92.1		107.9		193.4	208.9
Income tax impact	(27.4)		(14.2)		(44)	(33)
Amount Reclassified from AOCI \| Cash Flow Hedges and Other
(Gain) loss on cash flow hedges:
Gain recognized in income on derivatives	(2.2)		5.5		(15.1)	2.4
Income tax impact	0.5		(1.4)		3.8	(0.6)
Total	(1.7)		4.1		(11.3)	1.8
Amortization of defined benefit pension and postretirement plan items:
Income tax impact	0.5		(1.4)		3.8	(0.6)
Amount Reclassified from AOCI \| Amortization of prior service cost
Amortization of defined benefit pension and postretirement plan items:
Amortization of defined benefit pension and postretirement plan items	(0.9)		(1.5)		(1.8)	(3)
Amount Reclassified from AOCI \| Amortization of net actuarial loss
Amortization of defined benefit pension and postretirement plan items:
Amortization of defined benefit pension and postretirement plan items	6.8		5.7		13.4	11.7
Amount Reclassified from AOCI \| Pension and Postretirement Benefits
(Gain) loss on cash flow hedges:
Income tax impact	(1.4)		(1)		(2.8)	(2)
Amortization of defined benefit pension and postretirement plan items:
Amortization of defined benefit pension and postretirement plan items	5.9		4.2		11.6	8.7
Income tax impact	(1.4)		(1)		(2.8)	(2)
Total	$ 4.5		$ 3.2		$ 8.8	$ 6.7

Business Combinations, Goodwi_3

Business Combinations, Goodwill and Acquired Intangible Assets - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	May 14, 2021	Jan. 05, 2020	Jul. 04, 2021	Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020	Dec. 31, 2020	Jan. 03, 2021
Business Acquisition [Line Items]
Acquired intangible asset amortization				$ 32.8	$ 9.7	$ 42.6	$ 19.3
Payments to acquire businesses						3,723.4	$ 29
Goodwill			$ 7,515.9	7,515.9		7,515.9			$ 2,150
Acquired intangibles, net			1,990.4	1,990.4		1,990.4			234
Acquired intangible assets, net			2,765.8	2,765.8		2,765.8			$ 409.7
FLIR
Business Acquisition [Line Items]
Cash and stock transaction value	$ 8,100
Net cash payments	3,700
Net share issuances	3,900
Assumption of debt	$ 500
Cash paid per share (in dollars per share)	$ 28
Entity shares issued per acquire share (in shares)	0.0718
Shares issued (in shares)	9,500,000
Grant day fair value (in dollars per share)	$ 409.41
Acquisition related costs				140.7		177.2
Payments to acquire businesses						7,620.9
Goodwill			5,377.6	5,377.6		5,377.6
FLIR \| Digital Imaging
Business Acquisition [Line Items]
Acquisition related costs				70.2		70.2
Integration-related costs						24
Acquired intangible asset amortization						22.8
Inventory step-up expense						23.4
FLIR \| Cost of sales
Business Acquisition [Line Items]
Acquisition related costs				23.7		23.7
FLIR \| Selling, general and administrative expenses
Business Acquisition [Line Items]
Acquisition related costs				$ 117		122.9
FLIR \| Interest expense
Business Acquisition [Line Items]
Acquisition related costs						$ 30.6
FLIR \| Subsidiaries
Business Acquisition [Line Items]
Revenue reported by acquired entity								$ 1,932.7
Revenue of acquiree since acquisition date			301.4
Earnings of acquiree since acquisition date			23.8
Acquisition related costs			$ 70.2
OakGate
Business Acquisition [Line Items]
Payments to acquire businesses		$ 28.5

Business Combinations, Goodwi_4

Business Combinations, Goodwill and Acquired Intangible Assets - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions	May 14, 2021	Jul. 04, 2021	Jun. 28, 2020	Jan. 03, 2021
Business Acquisition [Line Items]
Goodwill		$ 7,515.9		$ 2,150
Consideration transferred, net of cash acquired		3,723.4	$ 29
FLIR
Business Acquisition [Line Items]
Cash and cash equivalents		287.7
Accounts receivables, net		240.2
Unbilled receivables, net		72.2
Inventories, net		565.8
Prepaid expenses and other current assets		106.3
Total current assets		1,272.2
Property, plant and equipment		394.8
Goodwill		5,377.6
Acquired intangible assets		2,400
Other long-term assets		85.8
Total assets acquired		9,530.4
Accounts payable		145.4
Accrued liabilities		239.7
Total current liabilities assumed		385.1
Long-term debt, net		496.8
Long-term deferred tax liabilities		601.3
Other long-term liabilities		138.6
Total liabilities assumed		1,621.8
Cash paid, net of cash acquired		7,908.6
Consideration transferred, net of cash acquired		$ 7,620.9
Net share issuances	$ 3,900

Business Combinations, Goodwi_5

Business Combinations, Goodwill and Acquired Intangible Assets - Summary of Acquisition Date Acquired Intangible Assets (Details) - FLIR $ in Millions	May 14, 2021USD ($)
Business Acquisition [Line Items]
Intangibles subject to amortization	$ 1,800
Weighted average useful life in years	10 years 4 months 24 days
Total acquired intangible assets	$ 2,400
Trademarks
Business Acquisition [Line Items]
Intangible assets not subject to amortization	600
Proprietary technology
Business Acquisition [Line Items]
Intangibles subject to amortization	$ 1,412
Weighted average useful life in years	10 years
Customer list/relationships
Business Acquisition [Line Items]
Intangibles subject to amortization	$ 380
Weighted average useful life in years	12 years
Backlog
Business Acquisition [Line Items]
Intangibles subject to amortization	$ 8
Weighted average useful life in years	9 months 18 days

Business Combinations, Goodwi_6

Business Combinations, Goodwill and Acquired Intangible Assets - Pro Forma Information (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020
Business Acquisition [Line Items]
Net income	$ 93.2	$ 91.3	$ 192.3	$ 118.5
Basic earnings per common share (in USD per share)	$ 2,190,000	$ 1,980,000	$ 4,840,000	$ 2,570,000
Diluted earnings per common share (in USD per share)	$ 2,140,000	$ 1,930,000	$ 4,710,000	$ 2,510,000
FLIR
Business Acquisition [Line Items]
Net sales	$ 1,275	$ 1,225.3	$ 2,548	$ 2,460.8

Business Combinations, Goodwi_7

Business Combinations, Goodwill and Acquired Intangible Assets - Acquired Intangible Assets (Details) - USD ($) $ in Millions	Jul. 04, 2021	Jan. 03, 2021
Acquired Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 2,411.3	$ 611.2
Accumulated amortization	420.9	377.2
Net carrying amount	1,990.4	234
Total acquired intangible assets, gross carrying amount	3,186.7	786.9
Acquired intangible assets, net	2,765.8	409.7
Trademarks
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible assets not subject to amortization, gross carrying amount	775.4	175.7
Proprietary technology
Acquired Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	1,832	420.3
Accumulated amortization	276	242.7
Net carrying amount	1,556	177.6
Customer list/relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	548.8	168.3
Accumulated amortization	121.9	112.8
Net carrying amount	426.9	55.5
Patents
Acquired Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	0.6	0.7
Accumulated amortization	0.6	0.7
Net carrying amount	0	0
Non-compete agreements
Acquired Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	0.9	0.9
Accumulated amortization	0.9	0.9
Net carrying amount	0	0
Trademarks
Acquired Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	4.5	4.5
Accumulated amortization	3.8	3.6
Net carrying amount	0.7	0.9
Backlog
Acquired Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	24.5	16.5
Accumulated amortization	17.7	16.5
Net carrying amount	$ 6.8	$ 0

Derivative Instruments - Narrat

Derivative Instruments - Narrative (Details) € in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jul. 04, 2021USD ($)	Jun. 28, 2020USD ($)	Jul. 04, 2021USD ($)	Jun. 28, 2020USD ($)	Jul. 04, 2021EUR (€)
Not designated as hedging instrument
Derivative Instruments, Gain (Loss) [Line Items]
Income (expense) related to derivative instruments not designated as cash flow hedges recognized in other income and expense	$ 4.6	$ 1.8	$ 4.8	$ 8.6
Forward contracts \| Designated as hedging instrument
Derivative Instruments, Gain (Loss) [Line Items]
Expected reclassification of gain (loss) over the next 12 months	3.3		3.3
Forward contracts \| Designated as hedging instrument \| Sell US Dollars and buy Canadian Dollars
Derivative Instruments, Gain (Loss) [Line Items]
Derivative notional amount	96.2		96.2
Forward contracts \| Designated as hedging instrument \| Sell US Dollars and buy Great Britain Pounds
Derivative Instruments, Gain (Loss) [Line Items]
Derivative notional amount	19.3		19.3
Forward contracts \| Designated as hedging instrument \| Sell Swedish Krona and buy U.S. Dollars \| Fair value hedges
Derivative Instruments, Gain (Loss) [Line Items]
Derivative notional amount	170		170
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	1.3		1.3
Currency swap maturing March 2023 \| Designated as hedging instrument
Derivative Instruments, Gain (Loss) [Line Items]
Derivative notional amount	125		125		€ 113
Currency swap maturing October 2024 \| Designated as hedging instrument
Derivative Instruments, Gain (Loss) [Line Items]
Derivative notional amount	150		150		€ 135
Interest rate swap \| Designated as hedging instrument
Derivative Instruments, Gain (Loss) [Line Items]
Derivative notional amount	$ 125		$ 125

Derivative Instruments - Effect

Derivative Instruments - Effect of Derivative Instruments (Details) - Designated as hedging instrument - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020
Cash flow hedges \| Foreign Exchange Contracts
Derivative Instruments, Gain (Loss) [Line Items]
Net gain (loss) recognized in AOCI	$ 0.2	$ 0.2	$ 12.7	$ (0.4)
Cash flow hedges \| Interest Rate Contracts
Derivative Instruments, Gain (Loss) [Line Items]
Net gain (loss) recognized in AOCI	(0.1)	(0.3)	0	(0.2)
Cash flow hedges \| COS \| Foreign Exchange Contracts
Derivative Instruments, Gain (Loss) [Line Items]
Net gain (loss) reclassified from AOCI	3.6	(1.6)	6	(1.8)
Cash flow hedges \| Other income and (expense), net \| Foreign Exchange Contracts
Derivative Instruments, Gain (Loss) [Line Items]
Net gain (loss) reclassified from AOCI	(1.8)	(4.7)	8.2	(3)
Cash flow hedges \| Interest expense \| Foreign Exchange Contracts
Derivative Instruments, Gain (Loss) [Line Items]
Net gain (loss) reclassified from AOCI	0.9	1	1.7	2.5
Cash flow hedges \| Interest expense \| Interest Rate Contracts
Derivative Instruments, Gain (Loss) [Line Items]
Net gain (loss) reclassified from AOCI	(0.4)	(0.6)	(0.8)	(4.6)
Fair value hedges \| Other income and (expense), net \| Foreign Exchange Contracts
Derivative Instruments, Gain (Loss) [Line Items]
Net gain (loss) reclassified from AOCI	7.9	0	7.9	0
Net gain recognized in earnings for amounts excluded from effectiveness testing - other income and expense, net - Foreign Exchange Contracts	$ 0.1	$ 0	$ 0.1	$ 0

Derivative Instruments - Foreig

Derivative Instruments - Foreign Currency Contracts (Details) - Jul. 04, 2021 - Forward contracts - Not designated as hedging instrument € in Millions, £ in Millions, kr in Millions, $ in Millions, $ in Millions	USD ($)	EUR (€)	CAD ($)	GBP (£)	DKK (kr)
Contracts to Buy \| Sell US Dollars and buy Canadian Dollars
Derivatives, Fair Value [Line Items]
Derivative notional amount			$ 106.7
Contracts to Buy \| Sell Euros and buy Canadian Dollars
Derivatives, Fair Value [Line Items]
Derivative notional amount			$ 22.3
Contracts to Buy \| Sell US Dollars and buy Great Britain Pounds
Derivatives, Fair Value [Line Items]
Derivative notional amount \| £				£ 61.5
Contracts to Buy \| Sell US Dollars and buy Euros
Derivatives, Fair Value [Line Items]
Derivative notional amount \| €		€ 141.5
Contracts to Buy \| Sell US Dollars and buy Danish Krone
Derivatives, Fair Value [Line Items]
Derivative notional amount \| kr					kr 324.7
Contracts to Buy \| Sell Euros and buy Swedish Krona
Derivatives, Fair Value [Line Items]
Derivative notional amount \| kr					471.8
Contracts to Buy \| Sell Swedish Krona and buy U.S. Dollars
Derivatives, Fair Value [Line Items]
Derivative notional amount \| kr					21.3
Contracts to Buy \| Sell Swedish Krona and buy Norwegian Krone
Derivatives, Fair Value [Line Items]
Derivative notional amount \| kr					kr 228.6
Contracts to Sell \| Sell US Dollars and buy Canadian Dollars
Derivatives, Fair Value [Line Items]
Derivative notional amount	$ 87.1
Contracts to Sell \| Sell Euros and buy Canadian Dollars
Derivatives, Fair Value [Line Items]
Derivative notional amount \| €		€ 15.2
Contracts to Sell \| Sell US Dollars and buy Great Britain Pounds
Derivatives, Fair Value [Line Items]
Derivative notional amount	86.5
Contracts to Sell \| Sell US Dollars and buy Euros
Derivatives, Fair Value [Line Items]
Derivative notional amount	171.7
Contracts to Sell \| Sell US Dollars and buy Danish Krone
Derivatives, Fair Value [Line Items]
Derivative notional amount	53
Contracts to Sell \| Sell Euros and buy Swedish Krona
Derivatives, Fair Value [Line Items]
Derivative notional amount	46.8
Contracts to Sell \| Sell Swedish Krona and buy U.S. Dollars
Derivatives, Fair Value [Line Items]
Derivative notional amount	180
Contracts to Sell \| Sell Swedish Krona and buy Norwegian Krone
Derivatives, Fair Value [Line Items]
Derivative notional amount	$ 225.6

Derivative Instruments - Fair V

Derivative Instruments - Fair Values of Instruments (Details) - USD ($) $ in Millions	Jul. 04, 2021	Jan. 03, 2021
Fair values of derivative financial instruments
Total derivatives, net	$ (33.8)	$ (16.3)
Designated as hedging instrument
Fair values of derivative financial instruments
Total liability derivatives	(25.4)	(21.8)
Designated as hedging instrument \| Forward contracts \| Other current assets \| Cash flow hedges
Fair values of derivative financial instruments
Total asset derivatives	4.6	7.3
Designated as hedging instrument \| Forward contracts \| Accrued liabilities \| Cash flow hedges
Fair values of derivative financial instruments
Total liability derivatives	(0.2)	0
Designated as hedging instrument \| Forward contracts \| Accrued liabilities \| Fair value hedges
Fair values of derivative financial instruments
Total liability derivatives	(7)	0
Designated as hedging instrument \| Forward contracts \| Other long-term liabilities \| Fair value hedges
Fair values of derivative financial instruments
Total liability derivatives	(3.1)	0
Designated as hedging instrument \| Cross currency swap \| Other current assets \| Cash flow hedges
Fair values of derivative financial instruments
Total asset derivatives	3.4	3.4
Designated as hedging instrument \| Cross currency swap \| Other long-term liabilities \| Cash flow hedges
Fair values of derivative financial instruments
Total liability derivatives	(20.6)	(29.2)
Designated as hedging instrument \| Interest rate contracts \| Accrued liabilities
Fair values of derivative financial instruments
Total liability derivatives	(1.6)	(1.5)
Designated as hedging instrument \| Interest rate contracts \| Other long-term liabilities
Fair values of derivative financial instruments
Total liability derivatives	(0.9)	(1.8)
Not designated as hedging instrument
Fair values of derivative financial instruments
Total asset derivatives		5.5
Total liability derivatives	(8.4)
Not designated as hedging instrument \| Forward contracts \| Accrued liabilities
Fair values of derivative financial instruments
Total liability derivatives	(12.5)	(1.2)
Not designated as hedging instrument \| Forward contracts \| Other current assets
Fair values of derivative financial instruments
Total asset derivatives	$ 4.1	$ 6.7

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares	May 14, 2021	Oct. 03, 2021	Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020
Earnings Per Share [Abstract]
Stock options excluded in computation of diluted earnings per share (in shares)			0	241,931	0	244,192
FLIR
Business Acquisition [Line Items]
Shares issued (in shares)	9,500,000
FLIR \| Expected
Business Acquisition [Line Items]
Shares issued (in shares)		9,500,000

Earnings Per Share - Computatio

Earnings Per Share - Computation of Basic and Diluted Earnings Per Share (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020
Earnings Per Share [Abstract]
Weighted average basic common shares outstanding (in shares)	42.5	36.7	39.7	36.6
Effect of dilutive securities (primarily stock options) (in shares)	1.1	1.1	1.1	1.2
Weighted average diluted common shares outstanding (in shares)	43.6	37.8	40.8	37.8

Stock-Based Compensation Plan_2

Stock-Based Compensation Plans - Narrative (Details) $ / shares in Units, $ in Millions	Jul. 27, 2021$ / sharesshares	Mar. 31, 2021shares	Jul. 04, 2021USD ($)$ / sharesshares	Apr. 04, 2021shares	Jun. 28, 2020USD ($)	Apr. 01, 2018	Jul. 04, 2021USD ($)installment$ / sharesshares	Jun. 28, 2020USD ($)	Jan. 02, 2022USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant (in shares)			35,033				35,033
Number of equal installments \| installment							2
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option compensation expense \| $			$ 3.6		$ 5.7		$ 7.8	$ 13.1
Vesting period over which employee stock option grants are evenly expensed			3 years
Expected stock option compensation expense \| $			$ 20.8				$ 20.8
Granted (in shares)			1,708				1,708
Granted (in USD per share) \| $ / shares			$ 383.68				$ 383.68
Stock Options \| Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	198,760
Granted (in USD per share) \| $ / shares	$ 441.51
Weighted average grant date fair value (in USD per share) \| $ / shares	$ 135.74
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance measurement period						3 years
Share-based compensation arrangement by share-based payment award, shares issued in period				9,588
Restricted stock units \| FLIR
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock unit expense \| $			$ 4.5				$ 4.5
Conversion of Stock, Shares Converted		62,974
Restricted stock units \| FLIR \| Expected
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock unit expense \| $									$ 8.2

Stock-Based Compensation Plan_3

Stock-Based Compensation Plans - Options Plans (Details) - Stock Options	3 Months Ended	6 Months Ended
	Jul. 04, 2021$ / sharesshares	Jul. 04, 2021$ / sharesshares
Shares
Beginning balance (in shares) \| shares	1,721,789	1,819,147
Granted (in shares) \| shares	1,708	1,708
Exercised (in shares) \| shares	(38,185)	(128,295)
Canceled (in shares) \| shares	(7,623)	(14,871)
Ending balance (in shares) \| shares	1,677,689	1,677,689
Exercisable at end of period (in shares) \| shares	1,413,068	1,413,068
Weighted Average Exercise Price
Beginning balance (in USD per share) \| $ / shares	$ 172.23	$ 170.10
Granted (in USD per share) \| $ / shares	383.68	383.68
Exercised (in USD per share) \| $ / shares	133.06	122.95
Canceled (in USD per share) \| $ / shares	314.40	308.72
Ending balance (in USD per share) \| $ / shares	172.69	172.69
Options exercisable at end of period (in USD per share) \| $ / shares	$ 146.51	$ 146.51

Stock-Based Compensation Plan_4

Stock-Based Compensation Plans - Restricted Stock Activity (Details) - Restricted Stock	6 Months Ended
	Jul. 04, 2021$ / sharesshares
Shares
Beginning balance (in shares) \| shares	43,405
Granted (in shares) \| shares	73,201
Vested (in shares) \| shares	(23,236)
Forfeited/Canceled (in shares) \| shares	(929)
Ending balance (in shares) \| shares	92,441
Weighted average fair value per share
Beginning balance (in USD per share) \| $ / shares	$ 228.80
Granted (in USD per share) \| $ / shares	399
Vested (in USD per share) \| $ / shares	254.91
Forfeited/Canceled (in USD per share) \| $ / shares	310.69
Ending balance (in USD per share) \| $ / shares	$ 356.19

Inventories - Narrative (Detail

Inventories - Narrative (Details) - USD ($) $ in Millions	Jul. 04, 2021	Jan. 03, 2021
Inventory Disclosure [Abstract]
Inventories at average cost or FIFO methods	$ 843.1	$ 324.8
Inventories at cost as per LIFO	$ 30.6	$ 29.2

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Jul. 04, 2021	Jan. 03, 2021
Inventories
Raw materials and supplies	$ 486.3	$ 231
Work in process	130.4	60.5
Finished goods	257	62.5
Total inventories, gross	873.7	354
Reduction to LIFO cost basis	(6.5)	(6.7)
Total inventories, net	$ 867.2	$ 347.3

Customer Contracts - Narrative

Customer Contracts - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Jul. 04, 2021	Jun. 28, 2020	Jan. 03, 2021
Segment Reporting Information [Line Items]
Contract with customer, current liability	$ 188.7		$ 160.1
Contract with customer, long-term liability	25.9		14
Revenue recognized from contract liabilities	84.1
Remaining performance obligation	2,979.4
Allowance for doubtful accounts	11.6		$ 12.3
Digital Imaging
Segment Reporting Information [Line Items]
Change in estimate	$ 11.4	$ 10.2

Customer Contracts - Performanc

Customer Contracts - Performance Obligation (Details)	Jul. 04, 2021
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-05
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	81.00%
Remaining performance obligation, expected timing of satisfaction	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-04
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	19.00%
Remaining performance obligation, expected timing of satisfaction

Customer Contracts - Schedule o

Customer Contracts - Schedule of Warranty Reserve (Details) - USD ($) $ in Millions	6 Months Ended
	Jul. 04, 2021	Jun. 28, 2020
Company's product warranty reserve
Balance at beginning of year	$ 22.4	$ 24.8
Accruals for product warranties charged to expense and other	5.7	0.7
Cost of product warranty claims	(4.9)	(5.3)
Acquisition	23.2	0.1
Balance at end of period	$ 46.4	$ 20.3

Income Taxes (Details)

Income Taxes (Details) $ in Millions, kr in Billions	3 Months Ended		6 Months Ended		12 Months Ended
Income Taxes (Details) $ in Millions, kr in Billions	Jul. 04, 2021USD ($)	Jun. 28, 2020USD ($)	Jul. 04, 2021USD ($)	Jun. 28, 2020USD ($)	Dec. 30, 2018USD ($)	Dec. 30, 2018SEK (kr)
Income Tax Contingency [Line Items]
Effective income tax rate	29.80%	13.20%	22.80%	15.80%
Discrete items	$ (4.1)	$ 10.4	$ 2.2	$ 14.6
Share-based accounting discrete tax benefits	2.1	$ 9.8	6.9	$ 14.5
Foreign tax rate	11.5		11.5
Valuation allowance	$ 5.3		$ 5.3
Effective tax rate excluding discrete items	25.30%	22.80%	23.90%	22.80%
FLIR \| STA
Income Tax Contingency [Line Items]
Taxes and penalties					$ 357.8	kr 3.1

Long-Term Debt and Letters of_3

Long-Term Debt and Letters of Credit - Long-Term Debt (Details)	Jul. 04, 2021USD ($)	Jul. 04, 2021EUR (€)	Mar. 22, 2021USD ($)	Mar. 04, 2021USD ($)	Jan. 03, 2021USD ($)
Debt Instrument [Line Items]
Debt discount and debt issuance costs	$ (33,800,000)				$ (800,000)
Total debt, net	4,742,000,000				778,500,000
Less: current portion of long-term debt and other debt	0				(97,600,000)
Long-term debt, net of current portion	4,742,000,000				$ 680,900,000
Credit facility
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 1,000,000,000
Debt face (in euro)				$ 1,000,000,000
Credit facility \| Revolving credit facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 1,150,000,000
Weighted average interest rate	1.19%	1.19%			1.05%
Long-term debt, gross	$ 125,000,000				$ 125,000,000
Term loans \| Term loan due October 2024, variable rate of 0.98% at July 4, 2021 and 1.15% at January 3, 2021, swapped to a Euro fixed rate of 0.6120%
Debt Instrument [Line Items]
Effective interest rate	0.98%	0.98%			1.15%
Stated interest rate	0.612%	0.612%
Long-term debt, gross	$ 150,000,000				$ 150,000,000
Term loans \| Term loan due March 2026, variable rate of 1.32% at July 4, 2021
Debt Instrument [Line Items]
Stated interest rate	1.32%	1.32%
Long-term debt, gross	$ 1,000,000,000				0
Senior notes
Debt Instrument [Line Items]
Debt face (in euro)			$ 3,000,000,000
Senior notes \| 0.65% Fixed Rate Senior Notes due April 2023
Debt Instrument [Line Items]
Stated interest rate	0.65%	0.65%	0.65%
Debt face (in euro)			$ 300,000,000
Long-term debt, gross	$ 300,000,000				0
Senior notes \| 0.95% Fixed Rate Senior Notes due April 2024
Debt Instrument [Line Items]
Stated interest rate	0.95%	0.95%	0.95%
Debt face (in euro)			$ 450,000,000
Long-term debt, gross	$ 450,000,000				0
Senior notes \| 1.60% Fixed Rate Senior Notes due April 2026
Debt Instrument [Line Items]
Stated interest rate	1.60%	1.60%	1.60%
Debt face (in euro)			$ 450,000,000
Long-term debt, gross	$ 450,000,000				0
Senior notes \| 2.25% Fixed Rate Senior Notes due April 2028
Debt Instrument [Line Items]
Stated interest rate	2.25%	2.25%	2.25%
Debt face (in euro)			$ 700,000,000
Long-term debt, gross	$ 700,000,000				0
Senior notes \| 2.50% Fixed Rate Senior Notes due August 2030
Debt Instrument [Line Items]
Stated interest rate	2.50%	2.50%
Long-term debt, gross	$ 500,000,000				0
Senior notes \| 2.75% Fixed Rate Senior Notes due April 2031
Debt Instrument [Line Items]
Stated interest rate	2.75%	2.75%	2.75%
Debt face (in euro)			$ 1,100,000,000
Long-term debt, gross	$ 1,100,000,000				0
Senior notes \| 3.09% Fixed Rate Senior Notes repaid March 2021
Debt Instrument [Line Items]
Stated interest rate	3.09%	3.09%
Long-term debt, gross	$ 0				95,000,000
Senior notes \| 3.28% Fixed Rate Senior Notes repaid March 2021
Debt Instrument [Line Items]
Stated interest rate	3.28%	3.28%
Long-term debt, gross	$ 0				100,000,000
Senior notes \| 0.70% €50 Million Fixed Rate Senior Notes repaid March 2021
Debt Instrument [Line Items]
Stated interest rate	0.70%	0.70%
Debt face (in euro) \| €		€ 50,000,000
Long-term debt, gross	$ 0				61,100,000
Senior notes \| 0.92% €100 Million Fixed Rate Senior Notes repaid March 2021
Debt Instrument [Line Items]
Stated interest rate	0.92%	0.92%
Debt face (in euro) \| €		€ 100,000,000
Long-term debt, gross	$ 0				122,100,000
Senior notes \| 1.09% €100 Million Fixed Rate Senior Notes repaid March 2021
Debt Instrument [Line Items]
Stated interest rate	1.09%	1.09%
Debt face (in euro) \| €		€ 100,000,000
Long-term debt, gross	$ 0				122,100,000
Other debt
Debt Instrument [Line Items]
Long-term debt, gross	$ 800,000				$ 4,000,000

Long-Term Debt and Letters of_4

Long-Term Debt and Letters of Credit - Narrative (Details) - USD ($)	Mar. 22, 2021	Mar. 17, 2021	Jan. 04, 2021	Apr. 04, 2021	Jul. 04, 2021	Mar. 04, 2021	Jan. 03, 2021
Line of Credit Facility [Line Items]
Debt extinguishment cost		$ 13,400,000
Senior notes
Line of Credit Facility [Line Items]
Debt called		$ 493,300,000
Debt face	$ 3,000,000,000
Credit facility
Line of Credit Facility [Line Items]
Debt face						$ 1,000,000,000
Maximum borrowing capacity						1,000,000,000
Additional borrowing capacity						$ 1,150,000,000
Credit facility \| Revolving credit facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity					$ 1,150,000,000
Available borrowing capacity					743,500,000
Borrowings					125,000,000		$ 125,000,000
Credit facility \| Letters of credit
Line of Credit Facility [Line Items]
Outstanding letters of credit					$ 281,500,000
0.65% Fixed Rate Senior Notes due April 2023 \| Senior notes
Line of Credit Facility [Line Items]
Debt face	$ 300,000,000
Stated interest rate	0.65%				0.65%
Borrowings					$ 300,000,000		0
0.95% Fixed Rate Senior Notes due April 2024 \| Senior notes
Line of Credit Facility [Line Items]
Debt face	$ 450,000,000
Stated interest rate	0.95%				0.95%
Redemption price percentage	100.00%
Borrowings					$ 450,000,000		0
1.60% Fixed Rate Senior Notes due April 2026 \| Senior notes
Line of Credit Facility [Line Items]
Debt face	$ 450,000,000
Stated interest rate	1.60%				1.60%
Borrowings					$ 450,000,000		0
2.25% Fixed Rate Senior Notes due April 2028 \| Senior notes
Line of Credit Facility [Line Items]
Debt face	$ 700,000,000
Stated interest rate	2.25%				2.25%
Borrowings					$ 700,000,000		0
2.75% Fixed Rate Senior Notes due April 2031 \| Senior notes
Line of Credit Facility [Line Items]
Debt face	$ 1,100,000,000
Stated interest rate	2.75%				2.75%
Borrowings					$ 1,100,000,000		0
2.50% Fixed Rate Senior Notes due August 2030 \| Senior notes
Line of Credit Facility [Line Items]
Stated interest rate					2.50%
Borrowings					$ 500,000,000		$ 0
Swedish Tax Authority letter of credit \| Credit facility \| Letters of credit
Line of Credit Facility [Line Items]
Outstanding letters of credit					260,000,000
FLIR
Line of Credit Facility [Line Items]
Interest and debt expense				$ 33,100,000
FLIR \| Short term stand-by bridge facility \| Bridge facility
Line of Credit Facility [Line Items]
Bridge facility	$ 4,500,000,000		$ 4,500,000,000
Interest expense			$ 17,200,000
FLIR \| 2.50% Fixed Rate Senior Notes due August 2030 \| Senior notes \| Guarantee
Line of Credit Facility [Line Items]
Debt face					$ 500,000,000
Stated interest rate					2.50%

Lease Commitments (Details)

Lease Commitments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Lease Commitments (Details) - USD ($) $ in Millions	Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020	Jan. 03, 2021
Leases [Abstract]
Operating lease right-of-use assets	$ 143.1		$ 143.1		$ 123.4
Operating lease liability	165		165
Long-term operating lease liabilities	134.5		134.5		$ 116.5
Short term lease liability	$ 30.5		$ 30.5
Operating lease, liability, current, statement of financial position [Extensible Enumeration]	Accrued liabilities		Accrued liabilities
Operating lease expense	$ 7.9	$ 6	$ 14.3	$ 12.1

Lawsuits, Claims, Commitments_2

Lawsuits, Claims, Commitments, Contingencies and Related Matters (Details) $ in Millions, kr in Billions	Apr. 24, 2018USD ($)audit	Jul. 04, 2021USD ($)	Dec. 30, 2018USD ($)	Dec. 30, 2018SEK (kr)	Jan. 03, 2021USD ($)
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Reserves for environmental remediation obligations		$ 6.4			$ 6.5
Accrued liabilities		653.7			$ 434.2
FLIR \| DDTC Consent Agreement
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Litigation settlement, term	4 years
Civil penalty	$ 30
Suspended amount	$ 15
External audits \| audit	2
Remaining payment		3.5
Investments in remedial compliance		$ 15
STA \| FLIR
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Taxes and penalties			$ 357.8	kr 3.1
Maximum
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Estimated duration of remediation		30 years
Accrued liabilities
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Accrued liabilities		$ 1.7

Pension Plans and Postretirem_3

Pension Plans and Postretirement Benefits - Narrative (Details) - Domestic - USD ($)	Jul. 04, 2021	Jan. 03, 2021
Defined Benefit Plan Disclosure [Line Items]
Discount rate used to determine the benefit obligation	2.64%	3.41%
Estimated contributions in current fiscal year	$ 0

Pension Plans and Postretirem_4

Pension Plans and Postretirement Benefits (Details) - Pension Plan - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020
Components of net period pension benefit expense
Service cost — benefits earned during the period	$ 2.7	$ 2.6	$ 5.4	$ 5.2
Interest cost on benefit obligation	5.6	6.8	11.2	13.7
Expected return on plan assets	(14.2)	(14.3)	(28.5)	(28.6)
Amortization of prior service cost	(0.9)	(1.5)	(1.7)	(3)
Amortization of net actuarial loss	6.6	5.8	13.3	11.5
Curtailment/settlements	0	0	0	0.7
Pension non-service income	$ (2.9)	$ (3.2)	$ (5.7)	$ (5.7)

Segment Information - Narrative

Segment Information - Narrative (Details) $ in Millions	Jul. 04, 2021USD ($)product_line	Jul. 04, 2021USD ($)segmentproduct_line	Jun. 28, 2020USD ($)	Jul. 04, 2021USD ($)product_line	Jun. 28, 2020USD ($)
Segment Reporting [Abstract]
Number of reportable segments \| segment		4
Revenue from External Customer [Line Items]
Number of reportable segments \| segment		4
Instrumentation
Revenue from External Customer [Line Items]
Number of product lines	3	3		3
Digital Imaging
Revenue from External Customer [Line Items]
Number of product lines	1	1		1
Aerospace and Defense Electronics
Revenue from External Customer [Line Items]
Number of product lines	1	1		1
Engineered Systems
Revenue from External Customer [Line Items]
Number of product lines	1	1		1
Engineered Systems \| Fixed-price contracts \| Segment \| Fixed-price contracts
Revenue from External Customer [Line Items]
Percentage				47.00%
Engineered Systems \| Minimum \| Fixed-price contracts \| Segment \| Fixed-price contracts
Revenue from External Customer [Line Items]
Percentage				45.00%
Engineered Systems \| Maximum \| Fixed-price contracts \| Segment \| Fixed-price contracts
Revenue from External Customer [Line Items]
Percentage				55.00%
FLIR
Revenue from External Customer [Line Items]
Restructuring charges \| $		$ 23.2		$ 23.2
Employee Severance And Facility Consolidation
Revenue from External Customer [Line Items]
Restructuring charges \| $	$ 1	$ 24.2	$ 7.7	$ 25.1	$ 11.4

Segment Information - Reconcili

Segment Information - Reconciliation (Details) - USD ($)	3 Months Ended		6 Months Ended
Segment Information - Reconciliation (Details) - USD ($)	Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020
Net sales:
Net sales	$ 1,121,000,000	$ 743,300,000	$ 1,926,700,000	$ 1,527,900,000
Net sales, percentage change	50.80%		26.10%
Operating income:
Operating income	$ 104,400,000	109,800,000	$ 239,600,000	213,800,000
Total segment operating profit, percentage change	(4.90%)		12.10%
FLIR
Operating income:
Acquisition related costs	$ 140,700,000		$ 177,200,000
Corporate expense
Operating income:
Operating income	$ (84,200,000)	(13,800,000)	$ (103,600,000)	(29,200,000)
Total segment operating profit, percentage change	510.10%		254.80%
Corporate expense \| FLIR
Operating income:
Acquisition related costs	$ 70,500,000		$ 76,400,000
Inter-segment sales
Net sales:
Net sales	5,100,000	5,500,000	9,300,000	12,400,000
Digital Imaging
Net sales:
Net sales	579,500,000	237,600,000	842,800,000	484,300,000
Digital Imaging \| FLIR
Operating income:
Acquisition related costs	70,200,000		70,200,000
Digital Imaging \| Operating segments
Net sales:
Net sales	$ 579,500,000	237,600,000	$ 842,800,000	484,300,000
Net sales, percentage change	143.90%		74.00%
Operating income:
Operating income	$ 84,600,000	46,800,000	$ 136,600,000	90,600,000
Total segment operating profit, percentage change	80.80%		50.80%
Instrumentation
Net sales:
Net sales	$ 291,100,000	263,100,000	$ 577,600,000	548,200,000
Instrumentation \| Operating segments
Net sales:
Net sales	$ 291,100,000	263,100,000	$ 577,600,000	548,200,000
Net sales, percentage change	10.60%		5.40%
Operating income:
Operating income	$ 64,600,000	48,500,000	$ 124,000,000	99,300,000
Total segment operating profit, percentage change	33.20%		24.90%
Aerospace and Defense Electronics
Net sales:
Net sales	$ 152,400,000	143,100,000	$ 303,600,000	299,400,000
Aerospace and Defense Electronics \| Operating segments
Net sales:
Net sales	$ 152,400,000	143,100,000	$ 303,600,000	299,400,000
Net sales, percentage change	6.50%		1.40%
Operating income:
Operating income	$ 28,400,000	17,500,000	$ 56,700,000	30,900,000
Total segment operating profit, percentage change	62.30%		83.50%
Engineered Systems
Net sales:
Net sales	$ 98,000,000	99,500,000	$ 202,700,000	196,000,000
Engineered Systems \| Operating segments
Net sales:
Net sales	$ 98,000,000	99,500,000	$ 202,700,000	196,000,000
Net sales, percentage change	(1.50%)		3.40%
Operating income:
Operating income	$ 11,000,000	$ 10,800,000	$ 25,900,000	$ 22,200,000
Total segment operating profit, percentage change	1.90%		16.70%

Segment Information - Identifia

Segment Information - Identifiable Assets (Details) - USD ($) $ in Millions	Jul. 04, 2021	Jan. 03, 2021
Segment Reporting Information [Line Items]
Identifiable assets	$ 14,222.9	$ 5,084.8
Operating segments \| Digital Imaging
Segment Reporting Information [Line Items]
Identifiable assets	11,613.3	2,000.8
Operating segments \| Instrumentation
Segment Reporting Information [Line Items]
Identifiable assets	1,660.7	1,676.2
Operating segments \| Aerospace and Defense Electronics
Segment Reporting Information [Line Items]
Identifiable assets	533.1	567.6
Operating segments \| Engineered Systems
Segment Reporting Information [Line Items]
Identifiable assets	156.4	175.1
Corporate expense
Segment Reporting Information [Line Items]
Identifiable assets	$ 259.4	$ 665.1

Segment Information - Sales (De

Segment Information - Sales (Details) - USD ($)	3 Months Ended		6 Months Ended
Segment Information - Sales (Details) - USD ($)	Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020
Revenue from External Customer [Line Items]
Net sales	$ 1,121,000,000	$ 743,300,000	$ 1,926,700,000	$ 1,527,900,000
Instrumentation
Revenue from External Customer [Line Items]
Net sales	291,100,000	263,100,000	577,600,000	548,200,000
Instrumentation \| Marine Instrumentation
Revenue from External Customer [Line Items]
Net sales	104,900,000	109,900,000	206,900,000	219,200,000
Instrumentation \| Environmental Instrumentation
Revenue from External Customer [Line Items]
Net sales	112,800,000	94,300,000	227,600,000	203,600,000
Instrumentation \| Test and Measurement Instrumentation
Revenue from External Customer [Line Items]
Net sales	$ 73,400,000	$ 58,900,000	$ 143,100,000	$ 125,400,000

Segment Information - Disaggreg

Segment Information - Disaggregation of Revenue (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020
Disaggregation of Revenue [Line Items]
Net sales	$ 1,121,000,000	$ 743,300,000	$ 1,926,700,000	$ 1,527,900,000
United States
Disaggregation of Revenue [Line Items]
Net sales	709,100,000	513,900,000	1,232,900,000	1,037,700,000
Europe
Disaggregation of Revenue [Line Items]
Net sales	249,100,000	122,700,000	405,600,000	270,600,000
All other
Disaggregation of Revenue [Line Items]
Net sales	162,800,000	106,700,000	288,200,000	219,600,000
United States Government
Disaggregation of Revenue [Line Items]
Net sales	276,900,000	205,800,000	484,500,000	391,300,000
Other, Primarily Commercial
Disaggregation of Revenue [Line Items]
Net sales	844,100,000	537,500,000	1,442,200,000	1,136,600,000
Digital Imaging
Disaggregation of Revenue [Line Items]
Net sales	579,500,000	237,600,000	842,800,000	484,300,000
Digital Imaging \| United States
Disaggregation of Revenue [Line Items]
Net sales	265,800,000	78,000,000	346,000,000	155,600,000
Digital Imaging \| Europe
Disaggregation of Revenue [Line Items]
Net sales	163,100,000	61,800,000	235,300,000	130,600,000
Digital Imaging \| All other
Disaggregation of Revenue [Line Items]
Net sales	150,600,000	97,800,000	261,500,000	198,100,000
Digital Imaging \| United States Government
Disaggregation of Revenue [Line Items]
Net sales	112,800,000	30,100,000	144,900,000	59,400,000
Digital Imaging \| Other, Primarily Commercial
Disaggregation of Revenue [Line Items]
Net sales	466,700,000	207,500,000	697,900,000	424,900,000
Instrumentation
Disaggregation of Revenue [Line Items]
Net sales	291,100,000	263,100,000	577,600,000	548,200,000
Instrumentation \| United States
Disaggregation of Revenue [Line Items]
Net sales	218,400,000	211,300,000	431,800,000	429,100,000
Instrumentation \| Europe
Disaggregation of Revenue [Line Items]
Net sales	60,500,000	43,100,000	119,100,000	98,000,000
Instrumentation \| All other
Disaggregation of Revenue [Line Items]
Net sales	12,200,000	8,700,000	26,700,000	21,100,000
Instrumentation \| United States Government
Disaggregation of Revenue [Line Items]
Net sales	20,800,000	21,400,000	43,400,000	35,500,000
Instrumentation \| Other, Primarily Commercial
Disaggregation of Revenue [Line Items]
Net sales	270,300,000	241,700,000	534,200,000	512,700,000
Aerospace and Defense Electronics
Disaggregation of Revenue [Line Items]
Net sales	152,400,000	143,100,000	303,600,000	299,400,000
Aerospace and Defense Electronics \| United States
Disaggregation of Revenue [Line Items]
Net sales	126,900,000	125,100,000	252,400,000	257,000,000
Aerospace and Defense Electronics \| Europe
Disaggregation of Revenue [Line Items]
Net sales	25,500,000	17,800,000	51,200,000	42,000,000
Aerospace and Defense Electronics \| All other
Disaggregation of Revenue [Line Items]
Net sales	0	200,000	0	400,000
Aerospace and Defense Electronics \| United States Government
Disaggregation of Revenue [Line Items]
Net sales	54,900,000	57,800,000	108,600,000	111,600,000
Aerospace and Defense Electronics \| Other, Primarily Commercial
Disaggregation of Revenue [Line Items]
Net sales	97,500,000	85,300,000	195,000,000	187,800,000
Engineered Systems
Disaggregation of Revenue [Line Items]
Net sales	98,000,000	99,500,000	202,700,000	196,000,000
Engineered Systems \| United States
Disaggregation of Revenue [Line Items]
Net sales	98,000,000	99,500,000	202,700,000	196,000,000
Engineered Systems \| Europe
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Engineered Systems \| All other
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Engineered Systems \| United States Government
Disaggregation of Revenue [Line Items]
Net sales	88,400,000	96,500,000	187,600,000	184,800,000
Engineered Systems \| Other, Primarily Commercial
Disaggregation of Revenue [Line Items]
Net sales	$ 9,600,000	$ 3,000,000	$ 15,100,000	$ 11,200,000