XML 23 R33.htm IDEA: XBRL DOCUMENT v2.4.1.9
Stockholder's Equity (Tables)
 12 Months Ended
Dec. 28, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Common Stock Share Activity
The following is an analysis of Teledyne’s common stock and treasury stock share activity:
 
 
Stock
 
Treasury Stock
Balance, January 1, 2012
 
37,027,015

 
577,923

Issued
 
135,682

 
(577,923
)
Balance, December 30, 2012
 
37,162,697

 
—

Issued
 
408,485

 
—

Balance, December 29, 2013
 
37,571,182

 
—

Acquired
 
—

 
1,396,290

Issued
 
126,683

 
(354,009
)
Balance, December 28, 2014
 
37,697,865

 
1,042,281
Valuation of Stock Options Granted
The following assumptions were used in the valuation of stock options granted in 2014, 2013 and 2012:
For the year
2014
 
2013
 
2012
Expected dividend yield
—

 
—

 
—

Expected volatility
30.7
%
 
31.9
%
 
34.1
%
Risk-free interest rate
1.7
%
 
0.9
%
 
1.1
%
Expected life in years
7.4

 
7.3

 
6.7
Stock Option Transactions for Employee Stock Option Plans
Stock option transactions for Teledyne’s employee stock option plans are summarized as follows:
 
2014
 
2013
 
2012
 
Shares
 
Weighted Average Exercise Price
 
Shares
 
Weighted Average Exercise Price
 
Shares
 
Weighted Average Exercise Price
Beginning balance
2,419,372
 
$
53.77

 
2,203,005

 
$
45.90

 
2,322,845

 
$
38.19

Granted
567,008
 
$
94.22

 
573,724

 
$
75.17

 
500,006

 
$
64.73

Exercised
(406,167
)
 
$
44.01

 
(313,265
)
 
$
37.10

 
(542,205
)
 
$
29.92

Canceled or expired
(80,505
)
 
$
74.72

 
(44,092
)
 
$
57.68

 
(77,641
)
 
$
48.19

Ending balance
2,499,708

 
$
63.85

 
2,419,372

 
$
53.77

 
2,203,005

 
$
45.90

Options exercisable at end of period
1,477,205

 
$
49.81

 
1,414,002

 
$
43.40

 
1,323,965

 
$
39.07
Stock Options Outstanding and Stock Options Exercisable Under Employee Stock Option Plans
The following table provides certain information with respect to stock options outstanding and stock options exercisable at December 28, 2014, under the employee stock option plans: 
 
  
Stock Options Outstanding
 
Stock Options Exercisable
Range of Exercise Prices
  
Shares
 
Weighted Average Exercise Price
 
Remaining life in years
 
Shares
 
Weighted Average Exercise Price
$20.01-$30.00
  
17,975

 
$
26.99

 
0.2
 
17,975

 
$
26.99

$30.01-$40.00
  
360,873

 
$
36.88

 
1.8
 
360,873

 
$
36.88

$40.01-$50.00
  
503,405

 
$
44.65

 
5.7
 
503,405

 
$
44.65

$50.01-$60.00
  
205,829

 
$
50.82

 
3.3
 
205,829

 
$
50.82

$60.01-$70.00
 
359,980

 
$
64.73

 
7.4
 
230,031

 
$
64.74

$70.01-$80.00
 
500,588

 
$
75.17

 
8.4
 
159,092

 
$
75.17

$90.00-$95.74
 
551,058

 
$
94.27

 
9.4
 
—

 
$
—

 
  
2,499,708

 
$
63.85

 
6.5
 
1,477,205

 
$
49.81
Stock Option Transactions for Non-employee Stock Option Plans
Stock option transactions for Teledyne’s non-employee director stock option plans are summarized as follows:
 
2014
 
2013
 
2012
 
Shares
 
Weighted Average Exercise Price
 
Shares
 
Weighted Average Exercise Price
 
Shares
 
Weighted Average Exercise Price
Beginning balance
324,381

 
$
45.06

 
308,908

 
$
39.35

 
404,692

 
$
32.85

Granted
45,010

 
$
89.19

 
42,166

 
$
71.22

 
43,548

 
$
59.17

Exercised
(18,088
)
 
$
24.59

 
(26,363
)
 
$
20.86

 
(139,332
)
 
$
26.66

Canceled or expired
(134
)
 
$
61.80

 
(330
)
 
$
40.70

 
—

 
$
—

Ending balance
351,169

 
$
51.76

 
324,381

 
$
45.06

 
308,908

 
$
39.35

Options exercisable at end of period
310,159

 
$
46.88

 
282,215

 
$
41.07

 
265,360

 
$
36.10
Stock Options Outstanding and Stock Exercisable Under Non Employee Director Stock Option Plan
The following table provides certain information with respect to stock options outstanding and stock options exercisable at December 28, 2014, under the non-employee director stock option plan: 
 
 
Stock Options Outstanding
 
Stock Options Exercisable
Range of Exercise Prices
 
Shares
 
Weighted Average Exercise Price
 
Remaining life in years
 
Shares
 
Weighted Average Exercise Price
$17.99-$20.00
 
5,248

 
$
19.46

 
5.5
 
5,248

 
$
19.46

$20.01-$30.00
 
47,712

 
$
26.71

 
2.7
 
47,712

 
$
26.71

$30.01-$40.00
 
67,813

 
$
34.47

 
3.5
 
67,813

 
$
34.47

$40.01-$50.00
 
84,589

 
$
46.08

 
5.0
 
84,589

 
$
46.08

$50.01-$60.00
 
30,797

 
$
53.65

 
3.8
 
30,797

 
$
53.65

$60.01-$70.00
 
41,010

 
$
64.23

 
7.7
 
34,000

 
$
64.56

$70.01-$80.00
 
36,000

 
$
75.13

 
8.3
 
36,000

 
$
75.13

$80.01-$94.24
 
38,000

 
$
94.08

 
9.3
 
4,000

 
$
94.24

 
 
351,169

 
$
51.76

 
5.4
 
310,159

 
$
46.88
Summary of Restricted Stock Activity
The following table summarizes Teledyne’s restricted stock activity:
 
  
Shares
 
Weighted average fair value per share
Balance, January 1, 2012
  
117,432

 
$
32.82

Granted
  
37,304

 
$
51.38

Issued
  
(32,610
)
 
$
30.97

Forfeited/Canceled
  
(357
)
 
$
30.97

Balance, December 30, 2012
  
121,769

 
$
39.01

Granted
  
48,325

 
$
66.65

Issued
  
(39,867
)
 
$
29.62

Forfeited/Canceled
  
(944
)
 
$
29.62

Balance, December 29, 2013
  
129,283

 
$
52.31

Granted
 
37,688

 
$
88.05

Issued
 
(40,197
)
 
$
37.22

Forfeited/Canceled
 
(18,048
)
 
$
56.68

Balance, December 28, 2014
 
108,726

 
$
69.55