Stock-Based Compensation Plans (Tables)

9 Months Ended

Sep. 30, 2012

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Valuation of stock options granted

The following assumptions were used in the valuation of stock options granted in 2012 and 2011:

	2012		2011
Expected dividend yield	—		—
Expected volatility	34.1	%	36.8	%
Risk-free interest rate	1.1	%	2.1	%
Expected life in years	6.7		6.0

Stock option transactions for employee stock option plans

Stock option transactions for Teledyne’s employee stock option plans for the third quarter and nine months ended September 30, 2012 are summarized as follows:

	2012
	Third Quarter			Nine Months
	Shares	Weighted Average Exercise Price		Shares	Weighted Average Exercise Price
Beginning balance	2,514,095	$	44.10	2,322,845	$	38.19
Granted	5,000	$	64.90	500,006	$	64.73
Exercised	(85,848)	$	29.88	(364,153)	$	31.52
Cancelled or expired	(17,692)	$	50.03	(43,143)	$	43.12
Ending balance	2,415,555	$	44.60	2,415,555	$	44.60
Options exercisable at end of period	1,501,517	$	37.61	1,501,517	$	37.61

Stock option transactions for non-employee stock option plans

Stock option transactions for Teledyne’s non-employee director stock option plans for the third quarter and nine months ended September 30, 2012 are summarized as follows:

	2012
	Third Quarter			Nine Months
	Shares	Weighted Average Exercise Price		Shares	Weighted Average Exercise Price
Beginning balance	410,504	$	36.80	404,692	$	32.85
Granted	5,476	$	49.28	42,767	$	59.48
Exercised	(10,511)	$	26.07	(41,990)	$	17.54
Ending balance	405,469	$	37.24	405,469	$	37.24
Options exercisable at end of period	361,896	$	34.61	361,896	$	34.61