Business Combinations and Investments, Goodwill and Acquired Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2012

Business Combinations and Investments, Goodwill and Acquired Intangible Assets [Abstract]

Unaudited pro forma financial information

had been acquired at the beginning of the 2011 fiscal year and includes the effect of estimated amortization of acquired identifiable intangible assets and increased interest expense on net acquisition debt, as well as the impact of purchase accounting adjustments for certain liabilities and inventory valuation adjustments. The unaudited pro forma financial information is presented for informational purposes only and is not necessarily indicative of the results of operations that actually would have resulted had the acquisition been in effect at the beginning of the period presented. In addition, the unaudited pro forma financial results are not intended to be a projection of future results and do not reflect any operating efficiencies or cost savings that might be achievable.

	Nine Months
(amounts in millions, except per-share amounts)	2011
Net sales	$	1,491.5
Net income from continuing operations	$	96.7
Net income attributable to Teledyne	$	209.8
Basic earnings per common share – continuing operations	$	2.64
Basic earnings per common share – attributable to Teledyne	$	5.73
Diluted earnings per common share – continuing operations	$	2.59
Diluted earnings per common share – attributable to Teledyne	$	5.62

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

Teledyne’s goodwill was $990.4 million at September 30, 2012 and $717.8 million at January 1, 2012. The increase in the balance

Estimated fair values of the assets acquired and liabilities

The following is a summary at the acquisition date of the estimated fair values allocated to the assets acquired and liabilities assumed for the acquisitions made in 2012 (in millions):

Current assets	$	116.2
Property, plant and equipment	79.1
Goodwill	261.4
Acquired intangible assets	112.3
Other long-term assets	5.2
Current liabilities	(61.8		)
Long-term liabilities	(123.2		)
Net assets acquired	$	389.2

Acquired intangible assets

The following table is a summary at the acquisition date of the acquired intangible assets and weighted average useful life in years for the acquisitions made in 2012 (dollars in millions):

Intangibles subject to amortization			Weighted Average Useful Life in Years
Proprietary Technology	$	51.0	9.5
Customer List/Relationships	22.9		10.2
Backlog	1.2		0.4
Trademarks	0.1		1.0
Total intangibles subject to amortization	75.2		9.5
Intangibles not subject to amortization
Trademarks	37.1		n/a
Total intangibles not subject to amortization	37.1
Total acquired intangible assets	$	112.3