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Supplementary Information | 12 Months Ended
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Dec. 31, 2016
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.
|  | 2016 |
|  | 1st Quarter |  |  | 2nd Quarter |  |  | 3rd Quarter |  |  | 4th Quarter |
|  | (1)(5) |  |  | (2)(5) |  |  | (3)(5) |  |  | (4)(5) |
|  | (in thousands, except per share amounts) |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Products |  | $ | 358,139 |  |  | $ | 456,832 |  |  | $ | 334,610 |  |  | $ | 303,667 |
Services |  |  | 72,855 |  |  |  | 74,960 |  |  |  | 75,865 |  |  |  | 76,322 |
Total revenues |  |  | 430,994 |  |  |  | 531,792 |  |  |  | 410,475 |  |  |  | 379,989 |
Cost of revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of products |  |  | 167,555 |  |  |  | 215,795 |  |  |  | 148,266 |  |  |  | 127,481 |
Cost of services |  |  | 33,107 |  |  |  | 33,127 |  |  |  | 34,850 |  |  |  | 33,502 |
Total cost of revenues (exclusive of acquired intangible assets amortization shown separately below) |  |  | 200,662 |  |  |  | 248,922 |  |  |  | 183,116 |  |  |  | 160,983 |
Gross profit |  |  | 230,332 |  |  |  | 282,870 |  |  |  | 227,359 |  |  |  | 219,006 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Engineering and development |  |  | 73,464 |  |  |  | 76,109 |  |  |  | 71,400 |  |  |  | 70,052 |
Selling and administrative |  |  | 79,174 |  |  |  | 81,425 |  |  |  | 78,794 |  |  |  | 76,289 |
Acquired intangible assets amortization |  |  | 19,994 |  |  |  | 16,244 |  |  |  | 8,487 |  |  |  | 7,923 |
Acquired intangible assets impairment |  |  | — |  |  |  | 83,339 |  |  |  | — |  |  |  | — |
Goodwill impairment |  |  | — |  |  |  | 254,946 |  |  |  | — |  |  |  | — |
Restructuring and other |  |  | 1,587 |  |  |  | 2,608 |  |  |  | 12,177 |  |  |  | 5,570 |
Total operating expenses |  |  | 174,219 |  |  |  | 514,671 |  |  |  | 170,858 |  |  |  | 159,834 |
Income (loss) from operations |  |  | 56,113 |  |  |  | (231,801 | ) |  |  | 56,501 |  |  |  | 59,172 |
Non-operating (income) expense: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  |  | (1,642 | ) |  |  | (1,666 | ) |  |  | (2,892 | ) |  |  | (3,095 | )
Interest expense |  |  | 710 |  |  |  | 691 |  |  |  | 633 |  |  |  | 1,604 |
Other (income) expense, net |  |  | (147 | ) |  |  | (9 | ) |  |  | (921 | ) |  |  | 1,779 |
Income (loss) before income taxes |  |  | 57,192 |  |  |  | (230,817 | ) |  |  | 59,681 |  |  |  | 58,884 |
Income tax provision (benefit) |  |  | 7,206 |  |  |  | (7,271 | ) |  |  | (4,113 | ) |  |  | (7,461 | )
Net income (loss) |  | $ | 49,986 |  |  | $ | (223,546 | ) |  | $ | 63,794 |  |  | $ | 66,345 |
Net income (loss) per common share—basic |  | $ | 0.24 |  |  | $ | (1.10 | ) |  | $ | 0.32 |  |  | $ | 0.33 |
Net income (loss) per common share—diluted |  | $ | 0.24 |  |  | $ | (1.10 | ) |  | $ | 0.31 |  |  | $ | 0.33 |
Cash dividend declared per common share |  | $ | 0.06 |  |  | $ | 0.06 |  |  | $ | 0.06 |  |  | $ | 0.06 |
(1) | Restructuring and other includes a $1.2 million fair value adjustment to increase the Universal Robots acquisition contingent consideration.
(2) | Restructuring and other includes $4.2 million for an impairment of fixed assets, $0.9 million for expenses related to an earthquake in Kumamoto, Japan, and $1.4 million for the increase in the fair value of contingent consideration liability of which $0.8 million related to Universal Robots, and $0.6 million related to AIT, partially offset by $5.1 million of property insurance recovery related to the Japan earthquake.
(3) | Restructuring and other includes an $8.0 million fair value adjustment to increase the Universal Robots acquisition contingent consideration.
(4) | Restructuring and other includes a $5.4 million fair value adjustment to increase the Universal Robots acquisition contingent consideration.
(5) | Teradyne recorded pension and post retirement net actuarial (gains) losses of $(1.2) million, $(0.7) million, $0.7 million and $(2.0) million for the first, second, third and fourth quarter in 2016, respectively. See Note B: “Accounting Policies” for a discussion of Teradyne’s accounting policy.
|  | 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 Teradyne’s 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.

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=68076893&loc=d3e1570-108306 Reference 2: 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=68064558&loc=d3e765-108305 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=68064558&loc=d3e725-108305 + Details
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