L. RESTRUCTURING AND OTHER

Restructuring

During the year ended December 31, 2014, Teradyne recorded $0.5 million of charges related to headcount reductions of 8 people in Semiconductor Test, $0.5 million of charges related to headcount reductions of 28 people in Wireless Test, $0.4 million of charges related to headcount reductions of 4 people in System Test, and $0.2 million charges related to headcount reduction of 3 people in Corporate.

During the year ended December 31, 2013, Teradyne recorded $1.9 million of severance charges related to headcount reductions of 48 people primarily in System Test and Semiconductor Test and a $(0.4) million credit in Corporate related to a change in the estimated exit costs related to a leased facility.

During the year ended December 31, 2012, Teradyne recorded $1.0 million of severance charges related to headcount reductions of 19 people primarily in System Test and Semiconductor Test.

The remaining accrual for severance of $0.4 million, as of December 31, 2014, is reflected in the accrued employees’ compensation and withholdings on the balance sheet and is expected to be paid by June 2015.


	Severance and Benefits			Facility Exit Costs			Total
	(in thousands)
Pre-2012 Activities
Balance at December 31, 2012		—			1,084			1,084
Change in estimate		—			(553	)		(553	)
Cash payments		—			(531	)		(531	)

Balance at December 31, 2013	$	—		$	—		$	—

2012 Activities
*Q2 2012 Activities:*
Provision	$	286		$	—		$	286
Change in estimate		(4	)		—			(4	)
Cash payments		(282	)		—			(282	)

Balance at December 31, 2012	$	—		$	—		$	—

*Q3 2012 Activity:*
Provision	$	687		$	—		$	687
Cash payments		(444	)		—			(444	)

Balance at December 31, 2012		243			—			243
Cash payments		(243	)		—			(243	)

Balance at December 31, 2013	$	—		$	—		$	—

2013 Activities
*Q3 2013 Activity:*
Provision	$	1,337		$	—		$	1,337
Cash payments		(966	)		—			(966	)

Balance at December 31, 2013	$	371		$	—		$	371
Cash payments		(371	)		—			(371	)

Balance at December 31, 2014	$	—		$	—		$	—

*Q4 2013 Activity:*
Provision	$	600		$	—		$	600
Cash payments		(486	)		—			(486	)

Balance at December 31, 2013	$	114		$	—		$	114
Cash payments		(114	)		—			(114	)

Balance at December 31, 2014	$	—		$	—		$	—

2014 Activities
*Q2 2014 Activity:*
Provision	$	572		$	—		$	572
Cash payments		(572	)		—			(572	)

Balance at December 31, 2014	$	—		$	—		$	—

*Q3 2014 Activity:*
Provision	$	225		$	—		$	225
Cash payments		(225	)		—			(225	)

Balance at December 31, 2014	$	—		$	—		$	—

*Q4 2014 Activity:*
Provision	$	826		$	—		$	826
Cash payments		(432	)		—			(432	)

Balance at December 31, 2014	$	394		$	—		$	394

Balance at December 31, 2014	$	394		$	—		$	394

Other

During the year ended December 31, 2014, Teradyne recorded a $0.6 million fair value adjustment to decrease the ZTEC acquisition contingent consideration, partially offset by $0.4 million of acquisition costs related to AIT.

During the year ended December 31, 2012, due to a decrease in specified new product revenue through the December 31, 2012 earn-out period end date, Teradyne recorded an $8.8 million fair value adjustment to decrease the LitePoint acquisition contingent consideration.