Earnings Per Share

3 Months Ended

Mar. 30, 2014

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

Basic and diluted earnings per share were computed based on net earnings. The weighted average number of common shares outstanding during the period was used in the calculation of basic earnings per share. This number of shares was increased by contingent shares that could be issued under various compensation plans as well as by the dilutive effect of stock options based on the treasury stock method in the calculation of diluted earnings per share.

For the first three months of 2014 and 2013, no stock options were excluded in the computation of diluted earnings per share. The following table sets forth the computations of basic and diluted earnings per share (amounts in millions, except per share data):

	First Quarter
	2014		2013
Net income attributable to Teledyne	$	45.8	$	40.4
Basic earnings per share:
Weighted average common shares outstanding	37.5		37.2
Basic earnings per common share	$	1.22	$	1.09
Diluted earnings per share:
Weighted average common shares outstanding	37.5		37.2
Dilutive effect of exercise of options outstanding	0.8		0.6
Weighted average diluted common shares outstanding	38.3		37.8
Diluted earnings per common share	$	1.20	$	1.07