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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Revenues:      
Total revenues [1],[2] $ 3,121,469 $ 2,294,965 $ 2,100,802
Cost of revenues:      
Total cost of revenues (exclusive of acquired intangible assets amortization shown separately below) 1,335,728 955,136 880,408
Gross profit 1,785,741 1,339,829 1,220,394
Operating expenses:      
Selling and administrative 464,769 437,084 390,669
Engineering and development 374,964 322,824 301,505
Acquired intangible assets amortization 30,803 40,147 39,191
Restructuring and other (13,202) (13,880) 15,232
Total operating expenses 857,334 786,175 746,597
Income from operations 928,407 553,654 473,797
Non-operating (income) expenses:      
Interest income (5,982) (16,990) (20,458)
Interest expense 24,182 22,224 21,780
Other (income) expense, net 9,192 22,648 4,674
Income before income taxes 901,015 525,772 467,801
Income tax provision 116,868 58,304 16,022
Net income $ 784,147 $ 467,468 $ 451,779
Net income per common share:      
Basic $ 4.72 $ 2.74 $ 2.41
Diluted $ 4.28 $ 2.60 $ 2.35
Weighted average common shares—basic 166,120 170,425 187,672
Weighted average common shares—diluted 183,042 179,459 192,605
Product [Member]      
Revenues:      
Total revenues $ 2,690,906 $ 1,887,674 $ 1,729,621
Cost of revenues:      
Total cost of revenues (exclusive of acquired intangible assets amortization shown separately below) 1,157,476 782,047 727,138
Service [Member]      
Revenues:      
Total revenues 430,563 407,291 371,181
Cost of revenues:      
Total cost of revenues (exclusive of acquired intangible assets amortization shown separately below) $ 178,252 $ 173,089 $ 153,270
[1] Includes $10.0 million, $8.4 million and $12.0 million in 2020, 2019 and 2018, respectively, for leases of Teradyne’s systems recognized outside of ASC 606: “Revenue from Contracts with Customers.”
[2] Revenues attributable to a country are based on location of customer site.