Derivative Instruments (Tables)

3 Months Ended

Apr. 03, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Amounts of Outstanding Foreign Currency Contracts

As of April 3, 2016, Teledyne had foreign currency contracts of this type in the following pairs (in millions):

Contracts to Buy			Contracts to Sell
Currency	Amount		Currency	Amount
Canadian Dollars	C$	55.8	U.S. Dollars	US$	41.7
Canadian Dollars	C$	10.6	Euros	€	6.9
Euros	€	7.1	U.S. Dollars	US$	8.0
Great Britain Pounds	£	1.1	Australian Dollars	A$	2.2
Great Britain Pounds	£	21.5	U.S. Dollars	US$	31.4
Singapore Dollars	S$	1.7	U.S. Dollars	US$	1.2
U.S. Dollars	US$	2.2	Japanese Yen	¥	250.0

Effect of Derivative Instruments Designated as Cash Flow Hedges

The effect of derivative instruments designated as cash flow hedges in our condensed consolidated financial statements for the first quarter ended April 3, 2016 and March 29, 2015 was as follows (in millions):

	First Quarter
	2016			2015
Net gain (loss) recognized in AOCI (a)	$	4.0		$	(4.6	)
Net loss reclassified from AOCI into cost of sales (a)	$	(2.2	)	$	(1.4	)
Net foreign exchange gain (loss) recognized in other income and expense (b)	$	(0.2	)	$	0.2

a)    Effective portion, pre-tax

b)     Amount excluded from effectiveness testing

Fair Values of Derivative Financial Instruments

The fair values of the Company’s derivative financial instruments are presented below. All fair values for these derivatives were measured using Level 2 information as defined by the accounting standard hierarchy (in millions):

Asset/(Liability) Derivatives	Balance sheet location	April 3, 2016			January 3, 2016
Derivatives designated as hedging instruments:
Cash flow forward contracts	Other assets	$	0.8		$	—
Cash flow forward contracts	Accrued liabilities	—			(4.7		)
Cash flow forward contracts	Other long-term liabilities	(0.8		)	(1.3		)
Total derivatives designated as hedging instruments		—			(6.0		)
Derivatives not designated as hedging instruments:
Non-designated forward contracts	Other current assets	2.8			0.2
Non-designated forward contracts	Accrued liabilities	(1.8		)	(6.0		)
Total derivatives not designated as hedging instruments		1.0			(5.8		)
Total asset (liability) derivatives		$	1.0		$	(11.8	)