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Stock-Based Compensation Plans (Tables)
 3 Months Ended
Mar. 29, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Valuation of Stock Options Granted
The following assumptions were used in the valuation of stock options granted in 2014:
 
 
2014
Expected dividend yield
 
—

Expected volatility
 
30.7
%
Risk-free interest rate
 
1.7
%
Expected life in years
 
7.4
Stock Option Transactions for Employee Stock Option Plans
Stock option transactions for Teledyne’s employee stock option plans for the first quarter ended March 29, 2015 are summarized as follows:
 
2015
 
First Quarter
 
Shares
 
Weighted
Average
Exercise
Price
Beginning balance
2,499,708

 
$
63.85

Exercised
(61,333
)
 
$
39.04

Canceled
(10,846
)
 
$
69.26

Ending balance
2,427,529

 
$
64.45

Options exercisable at end of period
1,413,872

 
$
50.31
Stock Option Transactions for Non-Employee Stock Option Plans
Stock option transactions for Teledyne’s non-employee director stock option plans for the first quarter ended March 29, 2015 are summarized as follows:
 
2015
 
First Quarter
 
Shares
 
Weighted
Average
Exercise
Price
Beginning balance
351,169

 
$
51.76

Exercised
(9,540
)
 
$
29.75

Ending balance
341,629
 
$
52.38

Options exercisable at end of period
304,052

 
$
47.57