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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_____________________________________
FORM 10-Q
_____________________________________
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended October 2, 2022
OR
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from             to             
Commission file number 1-15295
_____________________________________
TELEDYNE TECHNOLOGIES INCORPORATED
(Exact name of registrant as specified in its charter)
_____________________________________
Delaware 25-1843385
(State or other jurisdiction of
incorporation or organization)
 (I.R.S. Employer
Identification Number)
1049 Camino Dos Rios
Thousand OaksCalifornia91360-2362
(Address of principal executive offices) (Zip Code)
805 373-4545
(Registrant’s telephone number, including area code)
____________________________________
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, $0.01 par valueTDYNew York Stock Exchange
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes      No  
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes      No  
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one):
Large accelerated filerAccelerated filer
Non-accelerated filerSmaller reporting company
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.    
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act): 
Yes  ☐    No  
There were 46,871,093 shares of common stock, $.01 par value per share, outstanding as of October 19, 2022.


TELEDYNE TECHNOLOGIES INCORPORATED


1

PART I FINANCIAL INFORMATION
 
Item 1.    Financial Statements
TELEDYNE TECHNOLOGIES INCORPORATED
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
FOR THE THIRD QUARTER AND NINE MONTHS ENDED OCTOBER 2, 2022 AND OCTOBER 3, 2021
(Unaudited - Amounts in millions, except per-share amounts)
Third QuarterNine Months
 2022202120222021
Net sales$1,363.6 $1,311.9 $4,040.4 $3,238.6 
Costs and expenses
Cost of sales785.8 787.7 2,327.0 1,943.3 
Selling, general and administrative expenses283.7 279.3 861.4 768.2 
Acquired intangible asset amortization 48.9 55.3 153.8 97.9 
Total costs and expenses1,118.4 1,122.3 3,342.2 2,809.4 
Operating income
245.2 189.6 698.2 429.2 
Interest and debt expense, net(22.0)(23.8)(66.8)(67.3)
Gain (loss) on debt extinguishment  10.6 (13.4)
Non-service retirement benefit income2.9 2.8 8.6 8.4 
Other income (expense), net5.2 (0.7)5.2 4.4 
Income before income taxes
231.3 167.9 655.8 361.3 
Provision for income taxes53.1 33.8 93.7 77.8 
Net income including noncontrolling interest178.2 134.1 $562.1 $283.5 
Less: Net income (loss) attributable to noncontrolling interest(0.1) (0.1) 
Net income attributable to Teledyne$178.3 $134.1 $562.2 $283.5 
Basic earnings per common share$3.81 $2.88 $12.01 $6.75 
Weighted average common shares outstanding46.8 46.6 46.8 42.0 
Diluted earnings per common share$3.74 $2.81 $11.79 $6.58 
Weighted average diluted common shares outstanding47.7 47.7 47.7 43.1 
The accompanying notes are an integral part of these condensed consolidated financial statements.

2


TELEDYNE TECHNOLOGIES INCORPORATED
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
FOR THE THIRD QUARTER AND NINE MONTHS ENDED OCTOBER 2, 2022 AND OCTOBER 3, 2021
(Unaudited - Amounts in millions)
 Third QuarterNine Months
 2022202120222021
Net income including noncontrolling interest$178.2 $134.1 $562.1 $283.5 
Other comprehensive income (loss):
Foreign exchange translation adjustment(357.1)(44.0)(544.5)(39.8)
Hedge activity, net of tax(6.2)(4.5)(2.0)(4.1)
Pension and postretirement benefit adjustments, net of tax4.1 4.4 12.3 13.2 
Other comprehensive income (loss)(359.2)(44.1)(534.2)(30.7)
Comprehensive income (loss) including noncontrolling interest(181.0)90.0 27.9 252.8 
Comprehensive (income) loss attributable to noncontrolling interest0.1  0.1  
Comprehensive income (loss) attributable to Teledyne$(180.9)$90.0 $28.0 $252.8 
The accompanying notes are an integral part of these condensed consolidated financial statements.
3


TELEDYNE TECHNOLOGIES INCORPORATED
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited - Amounts in millions, except share amounts)
October 2, 2022January 2, 2022
Assets
Current Assets
Cash and cash equivalents$479.3 $474.7 
Accounts receivable, net770.4 767.7 
Unbilled receivables, net309.5 316.1 
Inventories, net 834.1 752.9 
Prepaid expenses and other current assets126.1 118.0 
Total current assets2,519.4 2,429.4 
Property, plant and equipment, net of accumulated depreciation and amortization of $830.6 at October 2, 2022 and $743.3
     at January 2, 2022
742.9 827.5 
Goodwill7,718.2 7,986.7 
Acquired intangibles, net2,421.8 2,741.6 
Prepaid pension assets141.3 123.7 
Operating lease right-of-use assets143.9 144.5 
Other assets, net138.9 176.9 
Total Assets$13,826.4 $14,430.3 
Liabilities, Redeemable Noncontrolling Interest and Stockholders’ Equity
Current Liabilities
Accounts payable$499.5 $469.5 
Accrued liabilities619.0 1,028.9 
Current portion of long-term debt300.0  
Total current liabilities1,418.5 1,498.4 
Long-term debt, net of current portion3,618.4 4,099.4 
Long-term operating lease liabilities134.8 138.0 
Long-term deferred tax liabilities548.7 625.5 
Other long-term liabilities414.4 447.0 
Total Liabilities6,134.8 6,808.3 
Commitments and contingencies
Redeemable Noncontrolling Interest3.1  
Stockholders’ Equity
Preferred stock, $0.01 par value; outstanding shares - none
  
Common stock, $0.01 par value; authorized 125,000,000 shares; issued shares: 47,194,766 at October 2, 2022 and 47,194,766 at January 2, 2022; outstanding shares: 46,868,187 at October 2, 2022 and 46,692,296 at January 2, 2022
0.5 0.5 
Additional paid-in capital4,340.6 4,317.1 
Retained earnings4,335.4 3,773.2 
Treasury stock, 326,579 shares at October 2, 2022 and 502,470 shares at January 2, 2022
(23.8)(38.8)
Accumulated other comprehensive loss(964.2)(430.0)
Total Stockholders’ Equity7,688.5 7,622.0 
Total Liabilities, Redeemable Noncontrolling Interest and Equity$13,826.4 $14,430.3 
The accompanying notes are an integral part of these condensed consolidated financial statements.
4

TELEDYNE TECHNOLOGIES INCORPORATED
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
(In millions)
Common StockAdditional Paid-in CapitalTreasury StockRetained EarningsAccumulated Other Comprehensive Income (Loss)Total
Balance, January 2, 2022$0.5 $4,317.1 $(38.8)$3,773.2 $(430.0)$7,622.0 
Net income   212.6  212.6 
Other comprehensive loss, net of tax    (21.9)(21.9)
Treasury stock issued (11.6)11.6    
Stock-based compensation 7.0    7.0 
Exercise of stock options 12.7    12.7 
Balance, April 3, 20220.5 4,325.2 (27.2)3,985.8 (451.9)7,832.4 
Net income   171.3  171.3 
Other comprehensive loss, net of tax    (153.1)(153.1)
Treasury stock issued (2.9)2.9    
Stock-based compensation 6.5    6.5 
Exercise of stock options 4.8    4.8 
Balance, July 3, 20220.5 4,333.6 (24.3)4,157.1 (605.0)7,861.9 
Net income   178.3  178.3 
Other comprehensive loss, net of tax    (359.2)(359.2)
Treasury stock issued (0.5)0.5    
Stock-based compensation 6.6    6.6 
Exercise of stock options 0.9    0.9 
Balance, October 2, 2022$0.5 $4,340.6 $(23.8)$4,335.4 $(964.2)$7,688.5 
Common StockAdditional Paid-in CapitalTreasury StockRetained EarningsAccumulated Other Comprehensive Income (Loss)Total
Balance, January 3, 2021$0.4 $389.9 $(59.5)$3,327.9 $(430.1)$3,228.6 
Net income— — — 84.7 — 84.7 
Other comprehensive income, net of tax— — — — 5.2 5.2 
Treasury stock issued— (9.3)9.3 — —  
Stock-based compensation— 7.0 — — — 7.0 
Exercise of stock options— 10.8 — — — 10.8 
Balance, April 4, 20210.4 398.4 (50.2)3,412.6 (424.9)3,336.3 
Net income— — — 64.7 — 64.7 
Other comprehensive income, net of tax— — — — 8.2 8.2 
Common stock issued0.1 3,889.6 — — — 3,889.7 
Treasury stock issued— (4.1)4.1 — —  
Stock based compensation— 8.4 — — — 8.4 
Exercise of stock options— 5.1 — — — 5.1 
Balance, July 4, 20210.5 4,297.4 (46.1)3,477.3 (416.7)7,312.4 
Net income— — — 134.1 — 134.1 
Other comprehensive income, net of tax— — — — (44.1)(44.1)
Treasury stock issued— (4.1)4.1 — —  
Stock-based compensation— 8.7 — — — 8.7 
Exercise of stock options— 5.5 — — — 5.5 
Balance, October 3, 2021$0.5 $4,307.5 $(42.0)$3,611.4 $(460.8)$7,416.6 
The accompanying notes are an integral part of these condensed consolidated financial statements.
5

TELEDYNE TECHNOLOGIES INCORPORATED
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE NINE MONTHS ENDED OCTOBER 2, 2022 AND OCTOBER 3, 2021
(Unaudited - Amounts in millions)
 Nine Months
 20222021
Operating Activities
Net income including noncontrolling interest$562.1 $283.5 
Adjustments to reconcile net income including noncontrolling interest to net cash provided by operating activities:
Depreciation and amortization250.4 237.8 
Stock-based compensation22.1 25.0 
Bridge financing and debt extinguishment (income) expense(10.6)30.5 
Changes in operating assets and liabilities excluding the effect of business acquired:
Accounts receivable and unbilled receivables(40.2)(103.0)
Inventories(135.1)3.7 
Accounts payable58.9 59.8 
Deferred and income taxes receivable/payable, net(32.8)16.9 
Prepaid expenses and other assets4.2 19.9 
Accrued expenses and other liabilities(403.0)(65.4)
  Other operating, net(26.9)20.3 
Net cash provided by operating activities249.1 529.0 
Investing Activities
Purchases of property, plant and equipment(58.5)(67.6)
Purchase of businesses, net of cash acquired(11.9)(3,723.3)
Proceeds from disposal of fixed assets5.2  
Other investing, net1.3 0.5 
Net cash used in investing activities(63.9)(3,790.4)
Financing Activities
Net payments on fixed rate notes (796.6)
Net proceeds from credit facility 3,975.8 
Payments on other debt(174.7) 
Proceeds from exercise of stock options18.4 21.4 
Liquidations of cross currency swap43.1  
Payments for bridge financing and debt extinguishment (30.5)
Other financing, net(2.0)(22.8)
Net cash (used in) provided by financing activities(115.2)3,147.3 
Effect of exchange rate changes on cash(65.4)(7.2)
Change in cash and cash equivalents 4.6 (121.3)
Cash and cash equivalents—beginning of period474.7 673.1 
Cash and cash equivalents—end of period$479.3 $551.8 
The accompanying notes are an integral part of these condensed consolidated financial statements.
6

TELEDYNE TECHNOLOGIES INCORPORATED
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)
October 2, 2022

Note 1. 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 2, 2022 (“2021 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 October 2, 2022 and the consolidated results of operations, consolidated comprehensive income (loss) and consolidated cash flows for the third quarter and nine months ended October 2, 2022. The results of operations and cash flows for the periods ended October 2, 2022 and cash flows for the nine months ended October 2, 2022 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. In the current year, gain (loss) on debt extinguishment is presented as separate line item on the income statement.
Teledyne had $118.1 million of cash equivalents at October 2, 2022 and an immaterial amount of cash equivalents at January 2, 2022. The Company has categorized its cash equivalents as a Level 1 financial asset, measured at fair value based on quoted prices in active markets of identical assets.
Note 2. Business Combinations, Goodwill and Acquired Intangible Assets
Acquisition of FLIR Systems, Inc.
On May 14, 2021, Teledyne acquired the outstanding stock of FLIR Systems, Inc. ( “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. See Note 3 to the Notes to Consolidated Financial Statements in Teledyne’s 2021 Form 10-K for additional information regarding the FLIR acquisition.
Founded in 1978, FLIR is an industrial technology company focused on intelligent sensing solutions for defense and industrial applications. 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 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 final purchase price allocation for FLIR, as the measurement period closed in the second quarter of 2022. We accounted for the FLIR acquisition under the acquisition method and measured identifiable assets acquired and liabilities assumed of the acquiree at the fair values on the closing date. The Company has completed 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 fair values of acquired intangibles were determined based on estimates and assumptions deemed reasonable by the Company.
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Fair values allocated to the assets acquired and liabilities assumed - FLIR (in millions):
Cash and cash equivalents$287.7 
Accounts receivables, net241.3 
Unbilled receivables, net72.1 
Inventories, net519.4 
Prepaid expenses and other current assets54.8 
Total current assets1,175.3 
Property, plant and equipment354.1 
Goodwill5,939.7 
Acquired intangible assets2,490.0 
Other long-term assets141.9 
Total assets acquired$10,101.0 
Accounts payable144.7 
Accrued liabilities612.1 
Total current liabilities assumed756.8 
Long-term debt, net496.8 
Long-term deferred tax liabilities603.3 
Other long-term liabilities335.5 
Total liabilities assumed2,192.4 
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 total taxes, penalties and interest levied by the STA totaled SEK 3.1 billion ($364.7 million based on exchange rates as of the acquisition date). The reassessment concerned 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 the reassessment levied significant taxes and penalties. In March 2020, FLIR received an adverse judgment from the First Instance Court of Sweden regarding the STA’s reassessment. FLIR appealed the decision to the Administrative Court of Appeal in Stockholm, Sweden. After completing an extensive analysis, including consultation with outside specialists, Teledyne recorded a liability for this uncertain tax position that reflected the most likely outcome for this tax matter under the acquisition method for business combinations in the third quarter of 2021, which was included within accrued liabilities on the consolidated balance sheet at January 2, 2022. On January 26, 2022, the Administrative Court of Appeal in Stockholm, Sweden generally affirmed the March 2020 ruling of the First Instance Court and determined an estimated tax liability in the amount of SEK 2.765 billion. We paid the tax on February 2, 2022 totaling $296.4 million. We have requested for permission to appeal this ruling to the Swedish Administrative Supreme Court, and we received notification in the fourth quarter of 2022 that this appeal was denied.
During the second quarter of 2022, the Company finalized the measurement period including reviewing and identifying acquisition accounting adjustments for a number of acquired tax positions of FLIR that may meet the definition of an acquired uncertain tax position. In addition to the STA matter described above, the Company recorded $187.6 million of purchase accounting adjustments for the accrual of other uncertain tax positions of FLIR. These amounts are included within other long-term liabilities on the Condensed Consolidated Balance Sheet.

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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:Intangible AssetsWeighted average useful life in years
Proprietary technology$1,355.0 9.7
Customer list/relationships450.0 14.4
Total intangibles subject to amortization1,805.0 10.9
Intangibles not subject to amortization:
Trademarks685.0 
Total acquired intangible assets$2,490.0 

The unaudited proforma information below 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 financing and interest 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, amortization of inventory fair value step-up (assumed to be fully amortized in 2020) and tax related effects as well as the issuance of Teledyne common stock in connection with the acquisition.
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:
Third Quarter (a)Nine Months (a)
(unaudited - in millions, except per share amounts)20212021
Net sales$1,311.9 $3,859.9 
Net income$164.3 $356.8 
Basic earnings per common share$3.53 $8.50 
Diluted earnings per common share$3.44 $8.28 
(a) The above unaudited proforma information is presented for the FLIR acquisition as it is considered a material acquisition.
Acquisition of NL Acoustics
During the third quarter of 2022, the Company acquired an approximate 80% majority interest in Noiseless Acoustics Oy ("NL Acoustics"), paying $11.9 million in net cash during the period, with an immaterial amount payable next year. NL Acoustics, located in Helsinki, Finland, designs and manufactures acoustics imaging instruments and predictive maintenance solutions. NL Acoustics is part of the Digital Imaging segment.
The minority ownership interest in shares of NL Acoustics held by a third party is classified as a redeemable noncontrolling interest on the condensed consolidated balance sheet due to a put option under which the third party may require the Company to purchase the remaining ownership interest, with the put option exercisable beginning in the third quarter of 2025. The redeemable noncontrolling interest is measured at the greater of the amount that would be paid if settlement occurred as of the balance sheet date based on the contractually defined redemption value and its carrying amount adjusted for net income (loss) attributable to the noncontrolling interest. Adjustments to the carrying value of the redeemable noncontrolling interest are recorded through retained earnings. Changes in the redeemable noncontrolling interest balance during the period were not material.
Goodwill and Acquired Intangible Assets
Teledyne’s goodwill was $7,718.2 million at October 2, 2022 and $7,986.7 million at January 2, 2022, with the decrease primarily related to the impact of foreign currency translation. Teledyne’s net acquired intangible assets were $2,421.8 million at October 2, 2022 and $2,741.6 million at January 2, 2022. The decrease in the balance of net acquired intangible assets primarily reflected the impact of foreign currency translation as well amortization of acquired intangible assets.
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Acquired intangible assets are summarized as follows:
October 2, 2022January 2, 2022
Acquired intangible assets (in millions):
Gross carrying amountAccumulated amortizationNet carrying amountGross carrying amountAccumulated amortizationNet carrying amount
Proprietary technology$1,610.4 $445.8 $1,164.6 $1,767.7 $358.2 $1,409.5 
Customer list/relationships577.2 163.3 413.9 616.2 141.8 474.4 
Patents0.6 0.6  0.6 0.6  
Non-compete agreements0.9 0.9  0.9 0.9  
Trademarks5.4 4.2 1.2 4.5 3.9 0.6 
Backlog15.4 15.4  16.3 16.3  
Total intangibles subject to amortization2,209.9 630.2 1,579.7 2,406.2 521.7 1,884.5 
Intangibles not subject to amortization:
Trademarks842.1  842.1 857.1 — 857.1 
Total acquired intangible assets$3,052.0 $630.2 $2,421.8 $3,263.3 $521.7 $2,741.6 

Note 3. Accumulated Other Comprehensive Income (Loss)
The changes in accumulated other comprehensive income (loss) ("AOCI") by component, net of tax, for the third quarter and nine months ended October 2, 2022 and October 3, 2021 are as follows (in millions):
Foreign Currency TranslationCash Flow Hedges and OtherPension and Postretirement BenefitsTotal
Balance as of July 3, 2022$(316.4)$0.8 $(289.4)$(605.0)
   Other comprehensive income (loss) before reclassifications(357.1)7.7  (349.4)
   Amounts reclassified from AOCI (13.9)4.1 (9.8)
Net other comprehensive income (loss)(357.1)(6.2)4.1 (359.2)
Balance as of October 2, 2022$(673.5)$(5.4)$(285.3)$(964.2)
Foreign Currency TranslationCash Flow Hedges and OtherPension and Postretirement BenefitsTotal
Balance as of July 4, 2021$(80.4)$2.7 $(339.0)$(416.7)
   Other comprehensive income (loss) before reclassifications(44.0)2.0  (42.0)
   Amounts reclassified from AOCI (6.5)4.4 (2.1)
Net other comprehensive income (loss)(44.0)(4.5)4.4 (44.1)
Balance as of October 3, 2021$(124.4)$(1.8)$(334.6)$(460.8)

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