Business Acquisitions, Goodwill and Intangible Assets (Tables)

12 Months Ended

Jan. 01, 2012

Business Acquisitions, Goodwill and Intangible Assets [Abstract]

Unaudited pro forma financial information

	Fiscal Year
(unaudited, in millions, except per share amounts)	2011		2010
Net sales	$	1,966.0	$	1,850.2
Net income from continuing operations	$	133.5	$	113.6
Net income attributable to Teledyne Technologies	$	246.6	$	114.2
Basic earnings per common share — continuing operations	$	3.65	$	3.14
Basic earnings per common share — attributable to Teledyne Technologies	$	6.74	$	3.15
Diluted earnings per common share — continuing operations	$	3.58	$	3.08
Diluted earnings per common share — attributable to Teledyne Technologies	$	6.61	$	3.09

(a) The above unaudited proforma information is presented for the DALSA acquisition as it is considered a material acquisition.

Purchase price goodwill acquired and intangible assets acquired for the acquisitions

	Fiscal year 2011
Acquisition Date	Name	Purchase Price(a)		Goodwill Acquired		Acquired Intangible Assets
February 11, 2011	DALSA	$	342.3	$	166.9	$	91.5
March 17, 2011	Nova Sensors		5.1		8.3		2.0
		$	347.4	$	175.2	$	93.5

	Fiscal year 2010
Acquisition Date	Name	Purchase Price(a)		Goodwill Acquired		Acquired Intangible Assets
June 7, 2010	Optimum Optical	$	5.7	$	4.3	$	1.9
July 26, 2010	Intelek		43.5		34.0		15.3
September 20, 2010	Gavia		10.8		8.1		2.3
		$	60.0	$	46.4	$	19.5

(a) Includes transaction costs that were expensed.

Estimated fair values of the assets acquired and liabilities

	2011		2010
Current assets, excluding cash acquired	$	98.7	$	18.4
Property, plant and equipment		53.3		16.5
Goodwill		175.2		46.4
Intangible assets		93.5		19.5
Total assets acquired		420.7		100.8
Current liabilities, including short-term debt		37.7		18.8
Other long-term liabilities		38.4		25.0
Total liabilities assumed		76.1		43.8
Purchase price, net of cash acquired	$	344.6	$	57.0

Summary of the intangible assets acquired as part of the acquisitions

	2011				2010
	Intangible Assets		Weighted average useful life in years		Intangible Assets		Weighted average useful life in years
Intangibles assets not subject to amortization:
Goodwill	$	175.2		n/a	$	46.4		n/a
Trademarks	$	19.5		n/a	$	3.2		n/a
Intangibles assets subject to amortization:
Proprietary Technology	$	46.0		9.0	$	9.2		6.4
Customer List/Relationships		24.6		10.0		6.3		7.2
Backlog		3.4		1.6		0.8		0.8
	$	74.0		9.5	$	16.3		7.3

Summary of changes in the carrying value of goodwill

	Instrumentation			Digital Imaging			Aerospace and Defense Electronics			Engineered Systems		Total
Balance at January 3, 2010	$	264.8		$	85.6		$	135.3		$	15.8	$	501.5
Current year acquisitions		8.1			4.3			26.1			7.9		46.4
Impact of foreign currency changes		(1.2	)		—			(0.3	)		—		(1.5	)
Adjustment to prior year acquisitions(a)		(0.1	)		—			—			—		(0.1	)
Balance at January 2, 2011		271.6			89.9			161.1			23.7		546.3
Current year acquisitions		—			175.2			—			—		175.2
Impact of foreign currency changes		(0.1	)		(3.9	)		0.3			—		(3.7	)
Balance at January 1, 2012	$	271.5		$	261.2		$	161.4		$	23.7	$	717.8

(a) The adjustments to prior year acquisitions primarily related to final estimates of fair value for assets acquired and liabilities assumed in connection with business acquisitions completed prior to 2010.

Summary of carrying value of other acquired intangible assets

	2011						2010
	Gross carrying amount		Accumulated amortization		Net Carrying Amount		Gross carrying amount		Accumulated amortization		Net Carrying Amount
Other acquired intangible assets:
Proprietary Technology	$	124.2	$	47.0	$	77.2	$	79.5	$	33.4	$	46.1
Customer List/Relationships		68.5		25.3		43.2		44.5		17.6		26.9
Patents		0.7		0.5		0.2		0.7		0.5		0.2
Non-compete agreements		0.9		0.9		—		1.0		0.9		0.1
Trademarks		11.1		9.6		1.5		3.2		1.0		2.2
Backlog		3.2		1.2		2.0		7.7		7.5		0.2
Oher acquired intangible assets subject to amortization	$	208.6	$	84.5	$	124.1	$	136.6	$	60.9	$	75.7
Oher acquired intangible assets not subject to amortization
Trademarks		57.3		—		57.3		38.2		—		38.2
Total other acquired intangible assets:	$	265.9	$	84.5	$	181.4	$	174.8	$	60.9	$	113.9

Estimated remaining useful lives by asset category

Intangibles subject to amortization	Weighted average remaining useful life in years
Proprietary Technology		5.4
Customer List/Relationships		5.9
Patents		6.3
Backlog		1.0
Trademarks		9.7
Total intangibles subject to amortization		5.3