XML 24 R4.htm IDEA: XBRL DOCUMENT v3.6.0.2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2016
Oct. 02, 2016
 [2],[3]
Jul. 03, 2016
 [2],[4]
Apr. 03, 2016
 [2],[5]
Dec. 31, 2015
 [6],[7]
Oct. 04, 2015
 [8]
Jul. 05, 2015
 [9]
Apr. 05, 2015
Dec. 31, 2014
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Revenues:                        
Products $ 303,667 [1],[2] $ 334,610 $ 456,832 $ 358,139 $ 244,510 $ 386,488 $ 437,243 $ 272,325   $ 1,453,248 $ 1,340,566 $ 1,364,024
Services 76,322 [1],[2] 75,865 74,960 72,855 73,934 79,506 75,496 70,076   300,002 299,012 283,800
Total revenues 379,989 [1],[2] 410,475 531,792 430,994 318,444 465,994 512,739 342,401   1,753,250 [10] 1,639,578 [10] 1,647,824 [10]
Cost of revenues:                        
Cost of products 127,481 [1],[2] 148,266 215,795 167,555 120,322 170,963 181,491 118,996   659,097 591,772 640,787
Cost of services 33,502 [1],[2] 34,850 33,127 33,107 32,096 36,405 32,680 30,982   134,586 132,163 128,229
Total cost of revenues (exclusive of acquired intangible assets amortization shown separately below) 160,983 [1],[2] 183,116 248,922 200,662 152,418 207,368 214,171 149,978   793,683 723,935 769,016
Gross profit 219,006 [1],[2] 227,359 282,870 230,332 166,026 258,626 298,568 192,423   959,567 915,643 878,808
Operating expenses:                        
Engineering and development 70,052 [1],[2] 71,400 76,109 73,464 70,941 74,027 75,832 71,450   291,025 292,250 291,639
Selling and administrative 76,289 [1],[2] 78,794 81,425 79,174 79,718 77,481 77,073 72,041   315,682 306,313 319,713
Acquired intangible assets amortization 7,923 [1],[2] 8,487 16,244 19,994 19,911 20,053 15,258 13,808   52,648 69,031 70,771
Acquired intangible assets impairment     83,339             83,339 98,200  
Goodwill impairment 0   254,946           $ 98,897 254,946 (254,946) 98,897
Restructuring and other 5,570 [1],[2] 12,177 2,608 1,587 5,204 261 (385)     21,942 5,080 1,365
Total operating expenses 159,834 [1],[2] 170,858 514,671 174,219 175,774 171,822 167,778 157,299   1,019,582 672,674 782,385
(Loss) income from operations 59,172 [1],[2] 56,501 (231,801) 56,113 (9,748) 86,804 130,790 35,124   (60,015) 242,969 96,423
Non-operating (income) expenses:                        
Interest income (3,095) [1],[2] (2,892) (1,666) (1,642) (2,017) (1,708) (1,674) (1,816)   (9,296) (7,214) (6,259)
Interest expense 1,604 [1],[2] 633 691 710 762 508 444 162   3,637 1,876 6,934
Other (income) expense, net 1,779 [1],[2] (921) (9) (147) 364 596 (116) (5,660)   704 (4,817) 372
(Loss) income before income taxes 58,884 [1],[2] 59,681 (230,817) 57,192 (8,857) 87,408 132,136 42,438   (55,060) [11],[12] 253,124 [11],[12] 95,376 [11],[12]
Income tax (benefit) provision (7,461) [1],[2] (4,113) (7,271) 7,206 (8,216) 15,955 29,257 9,651   (11,639) 46,647 14,104
Net (loss) income $ 66,345 [1],[2] $ 63,794 $ (223,546) $ 49,986 $ (641) $ 71,453 $ 102,879 $ 32,787   $ (43,421) $ 206,477 $ 81,272
Net (loss) income per common share:                        
Basic $ 0.33 [1],[2] $ 0.32 $ (1.10) $ 0.24 $ 0.00 $ 0.34 $ 0.48 $ 0.15   $ (0.21) $ 0.98 $ 0.40
Diluted 0.33 [1],[2] 0.31 (1.10) 0.24 0.00 0.34 0.48 0.15   $ (0.21) $ 0.97 $ 0.37
Weighted average common shares-basic                   202,578 211,544 202,908
Weighted average common shares-diluted                   202,578 213,321 222,550
Cash dividend declared per common share $ 0.06 [1],[2] $ 0.06 $ 0.06 $ 0.06 $ 0.06 $ 0.06 $ 0.06 $ 0.06   $ 0.24 $ 0.24 $ 0.18
[1] Restructuring and other includes a $5.4 million fair value adjustment to increase the Universal Robots acquisition contingent consideration.
[2] 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.
[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 $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.
[5] Restructuring and other includes a $1.2 million fair value adjustment to increase the Universal Robots acquisition contingent consideration.
[6] 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.
[7] 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.
[8] Restructuring and other includes a $(1.0) million fair value adjustment to decrease the AIT acquisition contingent consideration.
[9] Restructuring and other includes a $(1.6) million fair value adjustment to decrease the ZTEC acquisition contingent consideration.
[10] Revenues attributable to a country are based on location of customer site.
[11] Included in income (loss) before taxes are charges and credits related to restructuring and other, inventory charges, goodwill impairment charges and acquired intangible assets impairment charge.
[12] 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.