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Stock Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2015
Schedule of Estimated Fair Value of TSR Performance-Based Restricted Stock Unit Awards Assumptions | The fair value was estimated using the Monte Carlo simulation model with the following assumptions:
|  | 2015 |  |  | 2014 |
Risk-free interest rate |  |  | 0.77 | % |  |  | 0.75 | %
Teradyne volatility-historical |  |  | 28.2 | % |  |  | 36.1 | %
Philadelphia Semiconductor Index volatility-historical |  |  | 19.7 | % |  |  | 24.6 | %
Dividend yield |  |  | 1.33 | % |  |  | 1.25 | %
Stock Compensation Plan Activity | Stock compensation plan activity for the years 2015, 2014 and 2013 follows:
|  | 2015 |  |  | 2014 |  |  | 2013 |
|  | (in thousands) |
Restricted Stock Units: |  |  |  |  |  |  |  |  |  |  |  |
Non-vested at January 1 |  |  | 4,352 |  |  |  | 4,636 |  |  |  | 4,970 |
Awarded |  |  | 1,681 |  |  |  | 1,870 |  |  |  | 2,110 |
Vested |  |  | (1,679 | ) |  |  | (1,965 | ) |  |  | (2,322 | )
Forfeited |  |  | (284 | ) |  |  | (189 | ) |  |  | (122 | )
Non-vested at December 31 |  |  | 4,070 |  |  |  | 4,352 |  |  |  | 4,636 |
Stock Options: |  |  |  |  |  |  |  |  |  |  |  |
Outstanding at January 1 |  |  | 1,507 |  |  |  | 2,706 |  |  |  | 3,841 |
Granted |  |  | 132 |  |  |  | 89 |  |  |  | 213 |
Exercised |  |  | (518 | ) |  |  | (1,248 | ) |  |  | (1,220 | )
Forfeited |  |  | — |  |  |  | (38 | ) |  |  | (104 | )
Expired |  |  | — |  |  |  | (2 | ) |  |  | (24 | )
Outstanding at December 31 |  |  | 1,121 |  |  |  | 1,507 |  |  |  | 2,706 |
Vested and expected to vest at December 31 |  |  | 1,121 |  |  |  | 1,507 |  |  |  | 2,694 |
Exercisable at December 31 |  |  | 779 |  |  |  | 1,089 |  |  |  | 1,814 |
Share Based Compensation Total Shares Available | Total shares available for the years 2015, 2014 and 2013:
|  | 2015 |  |  | 2014 |  |  | 2013 |
|  | (in thousands) |
Shares available: |  |  |  |  |  |  |  |  |  |  |  |
Available for grant at January 1 |  |  | 12,443 |  |  |  | 14,213 |  |  |  | 6,414 |
Options granted |  |  | (132 | ) |  |  | (89 | ) |  |  | (213 | )
Restricted stock units awarded |  |  | (1,681 | ) |  |  | (1,870 | ) |  |  | (2,110 | )
Restricted stock units forfeited |  |  | 284 |  |  |  | 189 |  |  |  | 122 |
Additional shares reserved |  |  | — |  |  |  | — |  |  |  | 10,000 |
Available for grant at December 31 |  |  | 10,914 |  |  |  | 12,443 |  |  |  | 14,213 |
Weighted-Average Restricted Stock Unit Award Date Fair Value | Weighted average restricted stock unit award date fair value information for the years 2015, 2014 and 2013 follows:
|  | 2015 |  |  | 2014 |  |  | 2013 |
Non-vested at January 1 |  | $ | 17.24 |  |  | $ | 15.60 |  |  | $ | 12.72 |
Awarded |  |  | 17.36 |  |  |  | 18.41 |  |  |  | 16.62 |
Vested |  |  | 16.85 |  |  |  | 14.38 |  |  |  | 10.40 |
Forfeited |  |  | 17.08 |  |  |  | 16.97 |  |  |  | 15.48 |
Non-vested at December 31 |  | $ | 17.46 |  |  | $ | 17.24 |  |  | $ | 15.60 |
Restricted Stock Unit Awards Aggregate Intrinsic Value | Restricted stock unit awards aggregate intrinsic value information at December 31 for the years 2015, 2014 and 2013 follows:
|  | 2015 |  |  | 2014 |  |  | 2013 |
|  | (in thousands) |
Outstanding |  | $ | 84,129 |  |  | $ | 86,113 |  |  | $ | 81,680 |
Expected to vest |  |  | 79,611 |  |  |  | 81,582 |  |  |  | 77,388 |
Restricted Stock Units Weighted Average Remaining Contractual Terms | Restricted stock units weighted average remaining contractual terms (in years) information at December 31, for the years 2015, 2014 and 2013 follows:
|  | 2015 |  |  | 2014 |  |  | 2013 |
Outstanding |  |  | 1.09 |  |  |  | 1.11 |  |  |  | 1.14 |
Expected to vest |  |  | 1.08 |  |  |  | 1.10 |  |  |  | 1.13 |
Weighted Average Stock Options Exercise Price | Weighted average stock options exercise price information for the years 2015, 2014 and 2013 follows:
|  | 2015 |  |  | 2014 |  |  | 2013 |
Outstanding at January 1 |  | $ | 7.89 |  |  | $ | 6.29 |  |  | $ | 4.64 |
Options granted |  |  | 18.10 |  |  |  | 19.16 |  |  |  | 16.56 |
Options exercised |  |  | 5.49 |  |  |  | 5.34 |  |  |  | 3.28 |
Options forfeited |  |  | 8.67 |  |  |  | 3.59 |  |  |  | 2.57 |
Options cancelled |  |  | 3.28 |  |  |  | 2.21 |  |  |  | 8.05 |
Outstanding at December 31 |  |  | 10.21 |  |  |  | 7.89 |  |  |  | 6.29 |
Exercisable at December 31 |  |  | 6.92 |  |  |  | 5.00 |  |  |  | 4.55 |
Stock Option Aggregate Intrinsic Value Information | Stock option aggregate intrinsic value information for the years ended December 31, 2015, 2014 and 2013 follows:
|  | 2015 |  |  | 2014 |  |  | 2013 |
|  | (in thousands) |
Exercised |  | $ | 7,255 |  |  | $ | 17,847 |  |  | $ | 16,848 |
Outstanding |  |  | 11,729 |  |  |  | 17,936 |  |  |  | 30,673 |
Vested and expected to vest |  |  | 11,729 |  |  |  | 17,936 |  |  |  | 30,512 |
Exercisable |  |  | 10,716 |  |  |  | 16,101 |  |  |  | 23,707 |
Stock Options Weighted Average Remaining Contractual Terms | Stock options weighted average remaining contractual terms (in years) information at December 31, for the years 2015, 2014 and 2013 follows:
|  | 2015 |  |  | 2014 |  |  | 2013 |
Outstanding |  |  | 4.2 |  |  |  | 4.5 |  |  |  | 4.9 |
Vested and expected to vest |  |  | 4.2 |  |  |  | 4.5 |  |  |  | 4.9 |
Exercisable |  |  | 3.9 |  |  |  | 4.2 |  |  |  | 4.3 |
Significant Option Groups Outstanding | Significant option groups outstanding at December 31, 2015 and related weighted average price and remaining contractual life information follow:
|  | Options Outstanding |  |  | Options Exercisable |
Range Of Exercise Prices |  | Weighted- Average Remaining Contractual Life (Years) |  |  | Shares |  |  | Weighted- Average Exercise Price |  |  | Shares |  |  | Weighted- Average Exercise Price |
|  | (shares in thousands) |
$1.48 – $2.67 |  |  | 4.58 |  |  |  | 416 |  |  | $ | 2.33 |  |  |  | 416 |  |  | $ | 2.33 |
$3.23 – $7.71 |  |  | 2.71 |  |  |  | 139 |  |  |  | 4.60 |  |  |  | 139 |  |  |  | 4.60 |
$11.37 – $16.95 |  |  | 3.54 |  |  |  | 345 |  |  |  | 16.63 |  |  |  | 202 |  |  |  | 16.62 |
$18.10 – $19.16 |  |  | 5.68 |  |  |  | 221 |  |  |  | 18.53 |  |  |  | 22 |  |  |  | 19.16 |
|  |  |  |  |  |  | 1,121 |  |  | $ | 10.21 |  |  |  | 779 |  |  | $ | 6.92 |
Effect to Income (Loss) from Operations for Recording Stock-Based Compensation | The effect to income from operations for recording stock-based compensation for the years ended December 31 was as follows:
|  | 2015 |  |  | 2014 |  |  | 2013 |
|  | (in thousands) |
Cost of revenues |  | $ | 3,065 |  |  | $ | 3,675 |  |  | $ | 4,338 |
Engineering and development |  |  | 9,362 |  |  |  | 10,146 |  |  |  | 12,452 |
Selling and administrative |  |  | 18,024 |  |  |  | 26,486 |  |  |  | 19,822 |
Stock-based compensation |  |  | 30,451 |  |  |  | 40,307 |  |  |  | 36,612 |
Income tax benefit |  |  | (8,528 | ) |  |  | (11,537 | ) |  |  | (9,762 | )
Total stock-based compensation expense after income taxes |  | $ | 21,923 |  |  | $ | 28,770 |  |  | $ | 26,850 |
Stock Options |
Fair Value of Stock Options Using Assumptions | The fair value of the stock options at grant date was estimated using the Black-Scholes option-pricing model with the following assumptions:
|  | 2015 |  |  | 2014 |  |  | 2013 |
Expected life (years) |  |  | 4.0 |  |  |  | 4.0 |  |  |  | 4.0 |
Risk-free interest rate |  |  | 1.1 | % |  |  | 1.2 | % |  |  | 0.6 | %
Volatility-historical |  |  | 33.4 | % |  |  | 38.8 | % |  |  | 46.8 | %
Dividend yield |  |  | 1.33 | % |  |  | 1.25 | % |  |  | 0.0 | %

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