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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2015
[1],[2]
Oct. 04, 2015
[3]
Jul. 05, 2015
[4]
Apr. 05, 2015
Dec. 31, 2014
[5],[6],[7]
Sep. 28, 2014
[5],[8]
Jun. 29, 2014
[5]
Mar. 30, 2014
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Revenues:                      
Products $ 244,510 $ 386,488 $ 437,243 $ 272,325 $ 253,162 $ 402,987 $ 452,488 $ 255,386 $ 1,340,566 $ 1,364,024 $ 1,154,922
Services 73,934 79,506 75,496 70,076 70,074 75,023 73,079 65,624 299,012 283,800 273,011
Total revenues 318,444 465,994 512,739 342,401 323,236 478,010 525,567 321,010 1,639,578 [9] 1,647,824 [9] 1,427,933 [9]
Cost of revenues:                      
Cost of products 120,322 170,963 181,491 118,996 131,337 182,591 202,411 124,448 591,772 640,787 499,030
Cost of services 32,096 36,405 32,680 30,982 31,673 34,298 32,743 29,515 132,163 128,229 120,102
Total cost of revenues (exclusive of acquired intangible assets amortization shown separately below) 152,418 207,368 214,171 149,978 163,010 216,889 235,154 153,963 723,935 769,016 619,132
Gross profit 166,026 258,626 298,568 192,423 160,226 261,121 290,413 167,047 915,643 878,808 808,801
Operating expenses:                      
Engineering and development 70,941 74,027 75,832 71,450 79,188 71,953 73,414 67,085 292,250 291,639 264,055
Selling and administrative 79,718 77,481 77,073 72,041 91,157 73,064 77,489 78,003 306,313 319,713 279,560
Goodwill impairment         98,897         98,897 0
Acquired intangible assets amortization 19,911 20,053 15,258 13,808 15,957 18,271 18,271 18,271 69,031 70,771 72,447
Restructuring and other 5,204 261 (385)   1,198 (405) 572   5,080 1,365 2,080
Total operating expenses 175,774 171,822 167,778 157,299 286,397 162,883 169,746 163,359 672,674 782,385 618,142
Income from operations (9,748) 86,804 130,790 35,124 (126,171) 98,238 120,667 3,688 242,969 96,423 190,659
Non-operating (income) expenses:                      
Interest income (2,017) (1,708) (1,674) (1,816) (2,035) (1,922) (1,266) (1,036) (7,214) (6,259) (4,129)
Interest expense 762 508 444 162 214 144 159 6,417 1,876 6,934 26,097
Other (income) expense, net 364 596 (116) (5,660) 463 (654) 382 180 (4,817) 372 (33,231)
Income (loss) before income taxes (8,857) 87,408 132,136 42,438 (124,813) 100,670 121,392 (1,873) 253,124 [10],[11] 95,376 [10],[11] 201,922 [10],[11]
Income tax provision (8,216) 15,955 29,257 9,651 (21,002) 17,721 20,187 (2,802) 46,647 14,104 36,975
Net income $ (641) $ 71,453 $ 102,879 $ 32,787 $ (103,811) $ 82,949 $ 101,205 $ 929 $ 206,477 $ 81,272 $ 164,947
Net income per common share:                      
Basic $ 0.00 $ 0.34 $ 0.48 $ 0.15 $ (0.48) $ 0.40 $ 0.52 $ 0.00 $ 0.98 $ 0.40 $ 0.86
Diluted 0.00 0.34 0.48 0.15 (0.48) 0.38 0.47 0.00 $ 0.97 $ 0.37 $ 0.70
Weighted average common shares-basic                 211,544 202,908 190,772
Weighted average common shares-diluted                 213,321 222,550 235,599
Cash dividend declared per common share $ 0.06 $ 0.06 $ 0.06 $ 0.06 $ 0.06 $ 0.06 $ 0.06 $ 0.00 $ 0.24 $ 0.18  
[1] 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.
[2] 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.
[3] Restructuring and other includes a $(1.0) million fair value adjustment to decrease the AIT acquisition contingent consideration.
[4] Restructuring and other includes a $(1.6) million fair value adjustment to decrease the ZTEC acquisition contingent consideration.
[5] Dividends declared by Teradyne's Board of Directors were paid in the second, third and fourth quarters of 2014.
[6] In the fourth quarter ended December 31, 2014, Teradyne recorded a goodwill impairment charge of $98.9 million in its Wireless Test segment.
[7] 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.
[8] Restructuring and other includes a $(0.6) million fair value adjustment to decrease the ZTEC acquisition contingent consideration.
[9] Revenues attributable to a country are based on location of customer site.
[10] Included in income (loss) before taxes are charges and credits related to restructuring and other, inventory charges and goodwill impairment charges.
[11] Interest income, interest expense, other (income) expense, net, contingent consideration adjustments and pension and postretirement plans actuarial gains and losses are included in Corporate and Eliminations.