Supplemental Balance Sheet Information (Tables)

3 Months Ended

Mar. 29, 2015

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Selected Components of Balance Sheet

The following table presents the balance of selected components of Teledyne’s balance sheet (in millions):

Balance sheet items	Balance sheet location	March 29, 2015		December 28, 2014
Deferred tax assets	Prepaid expenses and other current assets	$	42.0	$	42.8
Income tax receivable	Prepaid expenses and other current assets	$	1.6	$	13.6
Deferred compensation assets	Other assets, net	$	50.7	$	49.6
Salaries and wages	Accrued liabilities	$	79.7	$	108.7
Customer deposits and credits	Accrued liabilities	$	47.0	$	47.9
Accrued pension obligation	Other long-term liabilities	$	13.5	$	14.2
Accrued postretirement benefits	Other long-term liabilities	$	11.3	$	11.6
Deferred compensation liabilities	Other long-term liabilities	$	47.1	$	45.8
Deferred tax liabilities	Other long-term liabilities	$	78.7	$	77.3

Company's Product Warranty Reserve

Changes in the Company’s product warranty reserve during the first three months of 2015 and 2014 are as follows (in millions):

	Three Months
	2015			2014
Balance at beginning of year	$	18.5		$	17.3
Accruals for product warranties charged to expense	1.5			0.5
Cost of product warranty claims	(2.1		)	(1.2		)
Balance at end of period	$	17.9		$	16.6