Capital Allocation and Financial Overview
Capital Allocation (a)
Capital Allocation of $5.2 Billion
Source of Funds
Acquisitions
Instrumentation (d)
Borrowings, Net(a)
Use of Funds
Cash Flow (b)
$115M
44%
$160M
Stock
Repurchase
$4,715M
Pension
Contribution,
$425M
Engineered
Systems 1%
(after-tax) $295M
8%
47%
Non-core
Divestitures
$960M
$3.555M
A&D
Electronics (d)
CapEx
Acquisitions
Digital
Imaging (d)
(a) Approximate sources and uses of funds since 1999 spinoff through year-end 2020. Public offering proceeds in 2000 assumed to offset debt at spinoff and are not shown.
Borrowings represent net debt as disclosed by management on the company's preliminary fourth quarter and full year results dated January 4, 2021
(b) Includes cash flow from operations, as well as proceeds from the exercise of stock options
(c) Includes after-tax proceeds from the sales of Teledyne Cast Parts, the former Aerospace Engines & Components segment and assets of Teledyne Printed Circuit Technology
which were divested in December 2000, April 2011 and July 2016, respectively
(d) Illustrative allocation of e2v purchase price distributed among Digital Imaging, A&D Electronics and Instrumentation based on trailing revenue and multiple of revenue
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