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Supplementary Information | 12 Months Ended
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Dec. 31, 2015
Supplementary Information | SUPPLEMENTARY INFORMATION (Unaudited) The following sets forth certain unaudited consolidated quarterly statements of operations data for each of Teradyne’s last eight quarters. In management’s opinion, this quarterly information reflects all adjustments, consisting only of normal recurring adjustments, necessary for a fair statement for the periods presented. Such quarterly results are not necessarily indicative of future results of operations and should be read in conjunction with the audited consolidated financial statements of Teradyne and the notes thereto included elsewhere herein.
|  | 2015 |
|  | 1st Quarter |  |  | 2nd Quarter |  |  | 3rd Quarter |  |  | 4th Quarter |
|  |  |  |  | (3) |  |  | (4) |  |  | (1)(2) |
|  | (in thousands, except per share amounts) |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Products |  | $ | 272,325 |  |  | $ | 437,243 |  |  | $ | 386,488 |  |  | $ | 244,510 |
Services |  |  | 70,076 |  |  |  | 75,496 |  |  |  | 79,506 |  |  |  | 73,934 |
Total revenues |  |  | 342,401 |  |  |  | 512,739 |  |  |  | 465,994 |  |  |  | 318,444 |
Cost of revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of products |  |  | 118,996 |  |  |  | 181,491 |  |  |  | 170,963 |  |  |  | 120,322 |
Cost of services |  |  | 30,982 |  |  |  | 32,680 |  |  |  | 36,405 |  |  |  | 32,096 |
Total cost of revenues (exclusive of acquired intangible assets amortization shown separately below) |  |  | 149,978 |  |  |  | 214,171 |  |  |  | 207,368 |  |  |  | 152,418 |
Gross profit |  |  | 192,423 |  |  |  | 298,568 |  |  |  | 258,626 |  |  |  | 166,026 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Engineering and development |  |  | 71,450 |  |  |  | 75,832 |  |  |  | 74,027 |  |  |  | 70,941 |
Selling and administrative |  |  | 72,041 |  |  |  | 77,073 |  |  |  | 77,481 |  |  |  | 79,718 |
Acquired intangible assets amortization |  |  | 13,808 |  |  |  | 15,258 |  |  |  | 20,053 |  |  |  | 19,911 |
Restructuring and other |  |  | — |  |  |  | (385 | ) |  |  | 261 |  |  |  | 5,204 |
Total operating expenses |  |  | 157,299 |  |  |  | 167,778 |  |  |  | 171,822 |  |  |  | 175,774 |
Income (loss) from operations |  |  | 35,124 |  |  |  | 130,790 |  |  |  | 86,804 |  |  |  | (9,748 | )
Non-operating (income) expense: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  |  | (1,816 | ) |  |  | (1,674 | ) |  |  | (1,708 | ) |  |  | (2,017 | )
Interest expense |  |  | 162 |  |  |  | 444 |  |  |  | 508 |  |  |  | 762 |
Other (income) expense, net |  |  | (5,660 | ) |  |  | (116 | ) |  |  | 596 |  |  |  | 364 |
Income (loss) before income taxes |  |  | 42,438 |  |  |  | 132,136 |  |  |  | 87,408 |  |  |  | (8,857 | )
Income tax provision (benefit) |  |  | 9,651 |  |  |  | 29,257 |  |  |  | 15,955 |  |  |  | (8,216 | )
Net income (loss) |  | $ | 32,787 |  |  | $ | 102,879 |  |  | $ | 71,453 |  |  | $ | (641 | )
Net income (loss) per common share—basic |  | $ | 0.15 |  |  | $ | 0.48 |  |  | $ | 0.34 |  |  | $ | (0.00 | )
Net income (loss) per common share—diluted |  | $ | 0.15 |  |  | $ | 0.48 |  |  | $ | 0.34 |  |  | $ | (0.00 | )
Cash dividend declared per common share |  | $ | 0.06 |  |  | $ | 0.06 |  |  | $ | 0.06 |  |  | $ | 0.06 |
(1) | Restructuring and other includes a $5.3 million fair value adjustment to increase the Universal Robots acquisition contingent consideration, and a $(0.3) million fair value adjustment to decrease the AIT acquisition contingent consideration.
(2) | In the fourth quarter ended December 31, 2015, Teradyne recorded pension and post retirement net actuarial losses of $17.7 million. See Note B: “Accounting Policies” for a discussion of our accounting policy.
(3) | Restructuring and other includes a $(1.6) million fair value adjustment to decrease the ZTEC acquisition contingent consideration.
(4) | Restructuring and other includes a $(1.0) million fair value adjustment to decrease the AIT acquisition contingent consideration.
|  | 2014 |
|  | 1st Quarter |  |  | 2nd Quarter |  |  | 3rd Quarter |  |  | 4th Quarter |
|  |  |  |  | (1) |  |  | (1)(2) |  |  | (1)(3)(4) |
|  | (in thousands, except per share amounts) |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Products |  | $ | 255,386 |  |  | $ | 452,488 |  |  | $ | 402,987 |  |  | $ | 253,162 |
Services |  |  | 65,624 |  |  |  | 73,079 |  |  |  | 75,023 |  |  |  | 70,074 |
Total revenues |  |  | 321,010 |  |  |  | 525,567 |  |  |  | 478,010 |  |  |  | 323,236 |
Cost of revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of products |  |  | 124,448 |  |  |  | 202,411 |  |  |  | 182,591 |  |  |  | 131,337 |
Cost of services |  |  | 29,515 |  |  |  | 32,743 |  |  |  | 34,298 |  |  |  | 31,673 |
Total cost of revenues (exclusive of acquired intangible assets amortization shown separately below) |  |  | 153,963 |  |  |  | 235,154 |  |  |  | 216,889 |  |  |  | 163,010 |
Gross profit |  |  | 167,047 |  |  |  | 290,413 |  |  |  | 261,121 |  |  |  | 160,226 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Engineering and development |  |  | 67,085 |  |  |  | 73,414 |  |  |  | 71,953 |  |  |  | 79,188 |
Selling and administrative |  |  | 78,003 |  |  |  | 77,489 |  |  |  | 73,064 |  |  |  | 91,157 |
Goodwill impairment |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 98,897 |
Acquired intangible assets amortization |  |  | 18,271 |  |  |  | 18,271 |  |  |  | 18,271 |  |  |  | 15,957 |
Restructuring and other |  |  | — |  |  |  | 572 |  |  |  | (405 | ) |  |  | 1,198 |
Total operating expenses |  |  | 163,359 |  |  |  | 169,746 |  |  |  | 162,883 |  |  |  | 286,397 |
Income (loss) from operations |  |  | 3,688 |  |  |  | 120,667 |  |  |  | 98,238 |  |  |  | (126,171 | )
Non-operating (income) expense: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  |  | (1,036 | ) |  |  | (1,266 | ) |  |  | (1,922 | ) |  |  | (2,035 | )
Interest expense |  |  | 6,417 |  |  |  | 159 |  |  |  | 144 |  |  |  | 214 |
Other (income) expense, net |  |  | 180 |  |  |  | 382 |  |  |  | (654 | ) |  |  | 463 |
(Loss) income before income taxes |  |  | (1,873 | ) |  |  | 121,392 |  |  |  | 100,670 |  |  |  | (124,813 | )
Income tax (benefit) provision |  |  | (2,802 | ) |  |  | 20,187 |  |  |  | 17,721 |  |  |  | (21,002 | )
Net income (loss) |  | $ | 929 |  |  | $ | 101,205 |  |  | $ | 82,949 |  |  | $ | (103,811 | )
Net income (loss) per common share—basic |  | $ | 0.00 |  |  | $ | 0.52 |  |  | $ | 0.40 |  |  | $ | (0.48 | )
Net income (loss) per common share—diluted |  | $ | 0.00 |  |  | $ | 0.47 |  |  | $ | 0.38 |  |  | $ | (0.48 | )
Cash dividend declared per common share |  | $ | 0.00 |  |  | $ | 0.06 |  |  | $ | 0.06 |  |  | $ | 0.06 |
(1) | Dividends declared by Teradyne’s Board of Directors were paid in the second, third and fourth quarters of 2014.
(2) | Restructuring and other includes a $(0.6) million fair value adjustment to decrease the ZTEC acquisition contingent consideration.
(3) | In the fourth quarter ended December 31, 2014, Teradyne recorded pension and post retirement net actuarial losses of $46.6 million. See Note B: “Accounting Policies” for a discussion of our accounting policy.
(4) | In the fourth quarter ended December 31, 2014, Teradyne recorded a goodwill impairment charge of $98.9 million in its Wireless Test segment.

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- Definition The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=51655806&loc=d3e765-108305 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=51825399&loc=d3e1280-108306 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=51655806&loc=d3e725-108305 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 6 -Section G -Subsection 1 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 302 -Paragraph a + Details
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