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Discontinued Operations
 12 Months Ended
Dec. 30, 2012
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations
Discontinued Operations
On April 19, 2011, Teledyne completed the sale of its general aviation piston engine businesses for a gain of $113.8 million. Sales for this discontinued segment were $39.5 million for fiscal 2011 and $133.7 million for 2010. The operating results were a net loss of $0.7 million for fiscal 2011 and net income of $0.6 million for 2010. The operating results were net of an income tax benefit of $0.4 million in 2011 and net of income taxes of $1.2 million for 2010.
The calculation of the gain on the sale recorded in 2011 is as follows (in millions):
Sale Price
 
$
186.0

Current assets
 
(38.4
)
Property, plant and equipment
 
(18.4
)
Goodwill
 
(0.9
)
Other long-term assets
 
(4.7
)
Current liabilities
 
18.0

Long-term liabilities - including aircraft product liabilities
 
48.0

Net pension and postretirement benefit curtailment expense
 
(0.4
)
Transaction related expenses paid
 
(1.9
)
 
 
187.3

Income tax provision
 
(73.5
)
Gain on sale
 
$
113.8


In 2012, Teledyne recorded income of $2.3 million from discontinued operations related to the finalization of income tax benefits on the sale of the piston engines businesses.