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Earnings Per Share (Tables)
 9 Months Ended
Sep. 30, 2012
Earnings Per Share [Abstract]  
Computations of basic and diluted earnings per share
The following table sets forth the computations of basic and diluted earnings per share (amounts in millions, except per share data):
 
Third Quarter
 
Nine Months
 
2012
 
2011
 
2012
 
2011
Net income from continuing operations
$
42.7

 
$
34.1

 
$
117.9

 
$
105.3

Gain from discontinued operations, net of income taxes
—

 
—

 
—

 
113.1

Net income attributable to Teledyne
$
42.7

 
$
34.1

 
$
117.9

 
$
218.4

Basic earnings per common share:
 
 
 
 
 
 
 
Weighted average common shares outstanding
36.7

 
36.7

 
36.6

 
36.6

Basic earnings per common share
 
 
 
 
 
 
 
— Continuing operations
$
1.16

 
$
0.93

 
$
3.22

 
$
2.88

— Discontinued operations
—

 
—

 
—

 
3.09

Basic earnings per common share
$
1.16

 
$
0.93

 
$
3.22

 
$
5.97

Diluted earnings per share:
 
 
 
 
 
 
 
Weighted average common shares outstanding
36.7

 
36.7

 
36.6

 
36.6

Dilutive effect of exercise of options outstanding
0.7

 
0.7

 
0.7

 
0.7

Weighted average diluted common shares outstanding
37.4

 
37.4

 
37.3

 
37.3

Diluted earnings per common share
 
 
 
 
 
 
 
— Continuing operations
$
1.14

 
$
0.91

 
$
3.16

 
$
2.82

— Discontinued operations
—

 
—

 
—

 
3.03

Diluted earnings per common share
$
1.14

 
$
0.91

 
$
3.16

 
$
5.85