<ARTICLE> 5 <LEGEND> The schedule contains summary financial information extracted from the registrant's consolidated statements of income for the three months ended March 31, 1998 and 1997 and consolidated balance sheets as of March 31, 1998 and 1997 and is qualified in its entirety by reference to such financial statements. </LEGEND> <CIK> 0001018963 <NAME> ALLEGHENY TELEDYNE INCORPORATED <MULTIPLIER> 1,000,000 <PERIOD-TYPE> 3-MOS 3-MOS <FISCAL-YEAR-END> DEC-31-1998 DEC-31-1997 <PERIOD-START> JAN-01-1998 JAN-01-1997 <PERIOD-END> MAR-31-1998 MAR-31-1997 <CASH> 51 85 <SECURITIES> 0 47 <RECEIVABLES> 638 629 <ALLOWANCES> 15 13 <INVENTORY> 699 598 <CURRENT-ASSETS> 1,455 1,425 <PP&E> 1,800 1,677 <DEPRECIATION> 1,022 927 <TOTAL-ASSETS> 3,006 2,866 <CURRENT-LIABILITIES> 590 577 <BONDS> 433 435 <PREFERRED-MANDATORY> 0 0 <PREFERRED> 0 0 <COMMON> 20 20 <OTHER-SE> 1,236 1,128 <TOTAL-LIABILITY-AND-EQUITY> 3,006 2,866 <SALES> 1,002 1,030 <TOTAL-REVENUES> 1,002 1,030 <CGS> 773 786 <TOTAL-COSTS> 773 786 <OTHER-EXPENSES> 0 0 <LOSS-PROVISION> 0 0 <INTEREST-EXPENSE> 4 5 <INCOME-PRETAX> 46 117 <INCOME-TAX> 19 46 <INCOME-CONTINUING> 27 71 <DISCONTINUED> 0 0 <EXTRAORDINARY> 0 0 <CHANGES> 0 0 <NET-INCOME> 27 71 <EPS-PRIMARY> 0.14 0.36 <EPS-DILUTED> 0.14 0.35