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Subsequent Event
12 Months Ended
Dec. 29, 2019
Subsequent Events [Abstract]  
Subsequent Event Subsequent Events The Company continues to manage the risks related to its defined benefit pension plan liabilities. Effective January 1, 2020, Teledyne restructured its domestic qualified defined benefit pension plan. The restructuring involved dividing our domestic qualified defined pension plan into two separate plans, one comprised primarily of inactive participants (the “inactive plan”) and the other comprised primarily of active participants (the “active plan”). The reorganization was made to facilitate a targeted investment strategy over time and to provide additional flexibility in evaluating opportunities to reduce risk and volatility. As a result of the restructuring, the Company re-measured the assets and liabilities of the two plans, as required under U.S. GAAP, based on assumptions and market conditions on the January 1, 2020 effective date. Actuarial gains and losses associated with the active plan will continue to be amortized over the average remaining service period of the active participants, while the actuarial gains and losses associated with the inactive plan will be amortized over the average remaining life expectancy of the inactive participants which is currently approximately 17.7 years. Based on the new targeted investment strategy, the company is projecting for 2020 a long term rate of return on plan assets for the inactive plan of 6.71% and 7.80% for the active plan. As a primary result of these changes, the net pre-tax pension expense for all benefit plans is expected to decrease in 2020 by approximately $3.9 million to $2.6 million in pension income for 2020 from $1.3 million in pension expense in 2019. On January 3, 2020, we acquired OakGate Technology, Inc. (“OakGate”) for $28.0 million in cash. Based in Loomis, California, OakGate provides software and hardware designed to test electronic data storage devices from development through manufacturing and end-use applications. The acquired business is part of the Test and Measurement product line of the Instrumentation segment.