Segment Information (Tables)

9 Months Ended

Oct. 01, 2017

Segment Reporting [Abstract]

Industry Segment Disclosures

The following table presents Teledyne’s segment disclosures (dollars in millions):

	Third Quarter						%		Nine Months						%
	2017			2016			Change		2017			2016			Change
Net sales(a):
Instrumentation	$	232.5		$	208.3		11.6	%	$	699.1		$	652.1		7.2	%
Digital Imaging	191.5			98.5			94.4	%	493.8			287.8			71.6	%
Aerospace and Defense Electronics	165.1			153.5			7.6	%	489.8			464.1			5.5	%
Engineered Systems	73.1			66.5			9.9	%	216.7			193.0			12.3	%
Total net sales	$	662.2		$	526.8		25.7	%	$	1,899.4		$	1,597.0		18.9	%
Operating income(b):
Instrumentation	$	34.8		$	28.1		23.8	%	$	96.0		$	79.6		20.6	%
Digital Imaging	31.9			11.7			172.6	%	73.6			30.6			140.5	%
Aerospace and Defense Electronics	29.4			31.5			(6.7	)%	88.0			83.6			5.3	%
Engineered Systems	10.0			8.6			16.3	%	28.0			22.2			26.1	%
Corporate expense	(13.2		)	(11.1		)	18.9	%	(48.4		)	(32.7		)	48.0	%
Operating income	$	92.9		$	68.8		35.0	%	$	237.2		$	183.3		29.4	%

(a)

Net sales excludes inter-segment sales of $6.4 million and $17.8 million for the third quarter and first nine months of 2017, respectively, and $4.2 million and $16.2 million for the third quarter and first nine months of 2016, respectively.

(b)

The third quarter of 2017 includes pretax charges of $2.9 million related to the acquisition of e2v which was recorded in the Digital Imaging segment. The first nine months of 2017 includes pretax charges of $19.8 million related to the acquisition of e2v, of which $9.1 million was recorded in the Digital Imaging segment, $0.3 million was recorded in the Aerospace and Defense Electronics segment and $10.4 million was recorded in corporate expense.

Identifiable assets are those assets used in the operations of the segments. Corporate assets primarily consist of cash, deferred taxes, net pension assets/liabilities and other assets (in millions):

Identifiable assets:	October 1, 2017		January 1, 2017
Instrumentation	$	1,428.1	$	1,361.0
Digital Imaging	1,501.6		671.1
Aerospace and Defense Electronics	619.6		449.4
Engineered Systems	104.6		93.9
Corporate	193.6		199.0
Total identifiable assets	$	3,847.5	$	2,774.4

Summary of the sales by product line

The following tables provide a summary of the net sales by product line for the Instrumentation segment (in millions):

	Third Quarter				Nine Months
Instrumentation	2017		2016		2017		2016
Marine Instrumentation	$	101.8	$	97.6	$	318.3	$	314.3
Environmental Instrumentation	77.7		63.8		230.2		200.4
Test and Measurement Instrumentation	53.0		46.9		150.6		137.4
Total	$	232.5	$	208.3	$	699.1	$	652.1