Supplemental Balance Sheet Information

3 Months Ended

Apr. 01, 2012

General and Supplemental Balance Sheet Information [Abstract]

Supplemental Balance Sheet Information

Note 8. Supplemental Balance Sheet Information

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

Balance sheet items	Balance sheet location	April 1, 2012		January 1, 2012
Deferred compensation assets	Other assets	$	36.8	$	32.9
Salaries and wages	Accrued liabilities	$	64.9	$	93.5
Customer deposits and credits	Accrued liabilities	$	54.2	$	55.9
Deferred compensation liabilities	Other long-term liabilities	$	35.1	$	31.7

Some of the Company’s products are subject to specified warranties and the Company provides for the estimated cost of product warranties. The adequacy of the pre-existing warranty liabilities is assessed regularly and the reserve is adjusted as necessary based on a review of historic warranty experience with respect to the applicable business or products, as well as the length and actual terms of the warranties, which are typically one year. The product warranty reserve is included in current and long term accrued liabilities on the balance sheet. Changes in the Company’s product warranty reserve during the first quarter of 2012 and 2011 are as follows (in millions):

	First Quarter
	2012			2011
Balance at beginning of year	$	13.3		$	13.0
Accruals for product warranties charged to expense		3.3			1.0
Cost of product warranty claims		(1.2	)		(1.1	)
Acquisitions		—			1.1
Balance at end of period	$	15.4		$	14.0