Investor Presentaiton
Teledyne Technologies Incorporated
Reconciliation of Non-GAAP Financial Measures (cont...)
Reconciliation of GAAP to Non-GAAP financial measures (in millions):
Fiscal Year (Incl. Discont Ops)
2007
Net cash provided by operating activities, GAAP
Less: purchases of property, plant and equipment
Less: facility purchase pursuant to 1031 like-kind exchange
Free Cash Flow, non-GAAP
Add: pension contribution, net of taxes
Add: restricted cash utilized for 1031 like-kind exchange
Adjusted Free Cash Flow, non-GAAP
Net cash provided by operating activities, GAAP
Less: purchases of property, plant and equipment
Free Cash Flow, non-GAAP
Add: Payment for acquisition-related tax matter
Add: FLIR related transaction cash payments, net of tax
Adjusted Free Cash Flow, non-GAAP
Fiscal Year
2008
2009
2010
2011
2012
2013
2014
$ 166.7
$ 120.4
$ 154.9
$ 127.1
$ 219.5
(40.3)
0.0
(41.9)
0.0
(36.2)
0.0
(31.0)
(41.7)
$ 189.2
(65.3)
$ 203.3
0.0
0.0
0.0
(72.6)
0.0
$ 287.9
(43.5)
2015
$ 210.2
(47.0)
2016
$ 317.0
2017
$ 374.7
(58.5)
(61.6)
0.0
0.0
(26.0)
0.0
126.4
78.5
118.7
96.1
177.8
123.9
130.7
244.4
163.2
229.4
316.2
3.9
35.7
71.1
28.1
44.0
60.3
51.4
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
19.5
0.0
130.3
114.2
189.8
124.2
221.8
184.2
182.1
244.4
163.2
248.9
316.2
2018
2019
Fiscal Year
2020
2021
2022
$ 446.9
(86.8)
$ 482.1
$ 618.9
$ 824.6
$ 486.8
(88.4)
(71.4)
(101.6)
(92.6)
360.1
393.7
547.5
723.0
394.2
0.0
0.0
0.0
296.4
0.0
360.1
0.0
0.0
71.6
393.7
547.5
794.6
690.6
The company defines free cash flow as cash provided by operating activities (a measure by GAAP) less capital expeditures for property, plant and equipment. Adjusted free cash flow
eliminates the impact of pension contributions on a net of tax basis, and reflects utilization of restricted cash from the sale of a former operating facility which funded, in part, a facility purchase
pursuant to a 1031 like-kind exchange. The company believes that this supplemental non-GAAP information is useful to assist management and the investment community in analyzing the
company's ability to generate cash flow, including the impact of voluntary and required pension contributions. All cash pension contributions were voluntary.
Teledyne
Q2 2023
Cash
$
364.2
Total Debt
Total Capitalization
3,353.3
Stockholders' Equity
8,579.0
$
11,932.3
Net Debt
$
2,989.1
Net Book Capitalization
$
11,568.1
Net Debt/Net Book Cap
25.8%
26
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