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Pension Plans and Postretirement Benefits
 3 Months Ended
Mar. 31, 2013
Compensation and Retirement Disclosure [Abstract]  
Pension Plans and Postretirement Benefits
Pension Plans and Postretirement Benefits
Teledyne’s pension expense was $4.3 million for the first quarter of 2013, compared with pension expense of $1.7 million the first quarter of 2012. The increase in pension expense primarily reflected the impact of using a 4.4 percent discount rate to determine the benefit obligation for the domestic plan in 2013 compared with a 5.5 percent discount rate used in 2012. Pension expense allocated to contracts pursuant to U.S. Government Cost Accounting Standards (“CAS”) was $3.6 million for the first quarter of 2013, compared with $3.2 million for the first quarter of 2012. Pension expense determined under CAS can generally be recovered through the pricing of products and services sold to the U.S. Government. Teledyne made voluntary cash pension contributions totaling $83.0 million to its domestic pension plan in the first three months of 2013, compared with voluntary cash pension contributions of $50.0 million to its domestic pension plan in the first three months of 2012. No further cash pension contributions are planned for the remainder of 2013 for the domestic pension plan.
The Company sponsors several postretirement defined benefit plans that provide health care and life insurance benefits for certain eligible retirees. The following tables set forth the components of net periodic pension benefit expense for Teledyne’s pension plans and postretirement benefit plans for the first quarter of 2013 and 2012 (in millions):
 
First Quarter
Pension Benefits
2013
 
2012
Service cost — benefits earned during the period
$
3.8

 
$
3.2

Interest cost on benefit obligation
9.6

 
10.3

Expected return on plan assets
(18.1
)
 
(16.7
)
Amortization of prior service cost
(1.2
)
 
(1.2
)
Amortization of net actuarial loss
10.2

 
6.1

Net periodic benefit expense
$
4.3

 
$
1.7

 
First Quarter
Postretirement Benefits
2013
 
2012
Interest cost on benefit obligation
$
0.2

 
$
0.2

Amortization of prior service cost
(0.2
)
 
(0.1
)
Amortization of net actuarial gain
(0.1
)
 
(0.1
)
Net periodic benefit (income) expense
$
(0.1
)
 
$
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