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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 27, 2020
Sep. 29, 2019
Sep. 27, 2020
Sep. 29, 2019
Revenues:        
Total revenues $ 819,484 [1] $ 582,038 [1] $ 2,362,500 [2] $ 1,640,315 [2]
Cost of revenues:        
Total cost of revenues (exclusive of acquired intangible assets amortization shown separately below) 360,556 237,000 1,026,549 683,724
Gross profit 458,928 345,038 1,335,951 956,591
Operating expenses:        
Selling and administrative 115,840 109,166 340,488 319,990
Engineering and development 94,909 77,804 274,170 236,030
Acquired intangible assets amortization 6,219 9,647 25,052 30,363
Restructuring and other (27,701) (6,500) 1,915 (11,792)
Total operating expenses 189,267 190,117 641,625 574,591
Income from operations 269,661 154,921 694,326 382,000
Non-operating (income) expense:        
Interest income (1,071) (4,433) (5,189) (13,805)
Interest expense 6,237 5,463 17,831 16,846
Other (income) expense, net 764 2,158 3,595 2,070
Income before income taxes 263,731 151,733 678,089 376,889
Income tax provision 41,013 15,873 90,274 34,494
Net income $ 222,718 $ 135,860 $ 587,815 $ 342,395
Net income per common share:        
Basic $ 1.34 $ 0.80 $ 3.54 $ 2.00
Diluted $ 1.21 $ 0.75 $ 3.23 $ 1.92
Weighted average common shares—basic 166,014 169,641 166,131 171,471
Weighted average common shares—diluted 184,338 180,494 181,777 178,685
Product [Member]        
Revenues:        
Total revenues $ 697,745 $ 488,170 $ 2,043,281 $ 1,339,123
Cost of revenues:        
Total cost of revenues (exclusive of acquired intangible assets amortization shown separately below) 300,174 197,196 882,902 555,863
Service [Member]        
Revenues:        
Total revenues 121,739 93,868 319,219 301,192
Cost of revenues:        
Total cost of revenues (exclusive of acquired intangible assets amortization shown separately below) $ 60,382 $ 39,804 $ 143,647 $ 127,861
[1] Includes $1.7 million and $1.5 million in 2020 and 2019, respectively, for leases of Teradyne’s systems recognized outside Accounting Standards Codification (“ASC”) 606 “Revenue from Contracts with Customers.”
[2] Includes $6.1 million and $4.9 million in 2020 and 2019, respectively, for leases of Teradyne’s systems recognized outside ASC 606 “Revenue from Contracts with Customers.”