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Revenue
 6 Months Ended
Jul. 04, 2021
Revenue from Contract with Customer [Abstract]  
Revenue
E. REVENUE
Disaggregation of Revenue
The following table provides information about disaggregated revenue by timing of revenue recognition, primary geographical market, and major product lines.
 
 
 
Semiconductor Test
 
 
 
 
 
Industrial Automation
 
 
 
 
 
 
 
 
 
 
 
 
System on-

a-Chip
 
 
Memory
 
 
System

Test
 
 
Universal
Robots
 
 
Mobile
Industrial
Robots
 
 
AutoGuide
 
 
Wireless

Test
 
 
Corporate

and

Other
 
 
Total
 
 
 
(in thousands)
 
For the Three Months Ended July 4, 2021 (1)
 
 
 
 
 
 
 
 
 
Timing of Revenue Recognition
 
 
 
 
 
 
 
 
 
Point in Time
 
$
 675,958
 
 
$
 84,232
 
 
$
 88,197
 
 
$
 74,412
 
 
$
 15,091
 
 
$
 —
  
 
 
$
 51,619
 
 
$
 (146
) 
 
$
 989,363
 
Over Time
 
 
 65,712
 
 
 
 8,074
 
 
 
 16,622
 
 
 
 1,665
 
 
 
 809
 
 
 
 209
 
 
 
 3,274
 
 
 
—  
 
 
 
 96,365
 
   
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total
 
$
 741,670
 
 
$
 92,306
 
 
$
 104,819
 
 
$
 76,077
 
 
$
 15,900
 
 
$
 209
 
 
$
 54,893
 
 
$
 (146
) 
 
$
 1,085,728
 
   
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Geographical Market
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Asia Pacific
 
$
 710,995
 
 
$
 87,151
 
 
$
 61,230
 
 
$
 18,044
 
 
$
 2,439
 
 
$
—  
 
 
$
 45,802
 
 
$
—  
 
 
$
 925,661
 
Americas
 
 
 21,664
 
 
 
 3,672
 
 
 
 36,256
 
 
 
 24,808
 
 
 
 6,897
 
 
 
 209
 
 
 
 7,107
 
 
 
 (146
) 
 
 
 100,467
 
Europe, Middle East and Africa
 
 
 9,011
 
 
 
 1,483
 
 
 
 7,333
 
 
 
 33,225
 
 
 
 6,564
 
 
 
—  
 
 
 
 1,984
 
 
 
—  
 
 
 
 59,600
 
   
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total
 
$
 741,670
 
 
$
 92,306
 
 
$
 104,819
 
 
$
 76,077
 
 
$
 15,900
 
 
$
 209
 
 
$
 54,893
 
 
$
 (146
) 
 
$
 1,085,728
 
   
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
For the Three Months Ended June 28, 2020 (1)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Timing of Revenue Recognition
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Point in Time
 
$
 520,496
 
 
$
 80,032
 
 
$
 57,741
 
 
$
 41,804
 
 
$
 11,196
 
 
$
 3,408
 
 
$
 46,347
 
 
$
 (253
) 
 
$
 760,771
 
Over Time
 
 
 54,077
 
 
 
 4,542
 
 
 
 14,065
 
 
 
 1,747
 
 
 
 76
 
 
 
 545
 
 
 
 2,838
 
 
 
—  
 
 
 
 77,890
 
   
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total
 
$
 574,573
 
 
$
 84,574
 
 
$
 71,806
 
 
$
 43,551
 
 
$
 11,272
 
 
$
 3,953
 
 
$
 49,185
 
 
$
 (253
) 
 
$
 838,661
 
   
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Geographical Market
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Asia Pacific
 
$
 547,700
 
 
$
 82,492
 
 
$
 38,656
 
 
$
 14,279
 
 
$
 1,232
 
 
$
—  
 
 
$
 41,907
 
 
$
—  
 
 
$
 726,266
 
Americas
 
 
 16,251
 
 
 
 855
 
 
 
 28,494
 
 
 
 11,364
 
 
 
 2,390
 
 
 
 3,953
 
 
 
 5,353
 
 
 
 (253
) 
 
 
 68,407
 
Europe, Middle East and Africa
 
 
 10,622
 
 
 
 1,227
 
 
 
 4,656
 
 
 
 17,908
 
 
 
 7,650
 
 
 
—  
 
 
 
 1,925
 
 
 
—  
 
 
 
 43,988
 
   
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total
 
$
 574,573
 
 
$
 84,574
 
 
$
 71,806
 
 
$
 43,551
 
 
$
 11,272
 
 
$
 3,953
 
 
$
 49,185
 
 
$
 (253
) 
 
$
 838,661
 
   
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
For the Six Months Ended July 4, 2021 (2)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Timing of Revenue Recognition
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Point in Time
 
$
 1,040,148
 
 
$
 186,124
 
 
$
 207,511
 
 
$
 138,419
 
 
$
 29,155
 
 
$
 (120
) 
 
$
 89,499
 
 
$
 (289
) 
 
$
 1,690,447
 
Over Time
 
 
 121,752
 
 
 
 14,015
 
 
 
 30,145
 
 
 
 3,259
 
 
 
 876
 
 
 
 548
 
 
 
 6,292
 
 
 
—  
 
 
 
 176,887
 
   
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total
 
$
 1,161,900
 
 
$
 200,139
 
 
$
 237,656
 
 
$
 141,678
 
 
$
 30,031
 
 
$
 428
 
 
$
 95,791
 
 
$
 (289
) 
 
$
 1,867,334
 
   
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Geographical Market
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Asia Pacific
 
$
 1,098,231
 
 
$
 191,200
 
 
$
 160,750
 
 
$
 35,877
 
 
$
 5,886
 
 
$
—  
 
 
$
 79,334
 
 
$
—  
 
 
$
 1,571,278
 
Americas
 
 
 42,443
 
 
 
 7,092
 
 
 
 63,915
 
 
 
 42,961
 
 
 
 12,050
 
 
 
 428
 
 
 
 12,876
 
 
 
 (289
) 
 
 
 181,476
 
Europe, Middle East and Africa
 
 
 21,226
 
 
 
 1,847
 
 
 
 12,991
 
 
 
 62,840
 
 
 
 12,095
 
 
 
—  
 
 
 
 3,581
 
 
 
—  
 
 
 
 114,580
 
   
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total
 
$
 1,161,900
 
 
$
 200,139
 
 
$
 237,656
 
 
$
 141,678
 
 
$
 30,031
 
 
$
 428
 
 
$
 95,791
 
 
$
 (289
) 
 
$
 1,867,334
 
   
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
For the Six Months Ended June 28, 2020 (2)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Timing of Revenue Recognition
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Point in Time
 
$
 868,542
 
 
$
 159,429
 
 
$
 158,453
 
 
$
 89,306
 
 
$
 20,293
 
 
$
 4,532
 
 
$
 87,403
 
 
$
 (253
) 
 
$
 1,387,705
 
Over Time
 
 
 106,171
 
 
 
 9,494
 
 
 
 29,429
 
 
 
 3,942
 
 
 
 117
 
 
 
 891
 
 
 
 5,267
 
 
 
—  
 
 
 
 155,311
 
   
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total
 
$
 974,713
 
 
$
 168,923
 
 
$
 187,882
 
 
$
 93,248
 
 
$
 20,410
 
 
$
 5,423
 
 
$
 92,670
 
 
$
 (253
) 
 
$
 1,543,016
 
   
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Geographical Market
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Asia Pacific
 
$
 910,433
 
 
$
 158,601
 
 
$
 118,674
 
 
$
 25,195
 
 
$
 2,825
 
 
$
—  
 
 
$
 79,711
 
 
$
—  
 
 
$
 1,295,439
 
Americas
 
 
 33,637
 
 
 
 7,751
 
 
 
 56,784
 
 
 
 26,108
 
 
 
 5,855
 
 
 
 5,423
 
 
 
 10,041
 
 
 
 (253
) 
 
 
 145,346
 
Europe, Middle East and Africa
 
 
 30,643
 
 
 
 2,571
 
 
 
 12,424
 
 
 
 41,945
 
 
 
 11,730
 
 
 
—  
 
 
 
 2,918
 
 
 
—  
 
 
 
 102,231
 
   
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total
 
$
 974,713
 
 
$
 168,923
 
 
$
 187,882
 
 
$
 93,248
 
 
$
 20,410
 
 
$
 5,423
 
 
$
 92,670
 
 
$
 (253
) 
 
$
 1,543,016
 
   
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
 
(1)
Includes $4.2 million and $2.5 million in 2021 and 2020, respectively, for leases of Teradyne’s systems recognized outside Accounting Standards Codification (“ASC”) 606
“Revenue from Contracts with Customers.”
(2)
Includes $7.3 million and $4.3 million in 2021 and 2020, respectively, for leases of Teradyne’s systems recognized outside ASC 606 “
Revenue from Contracts with Customers
.”
Contract Balances
During the three and six months ended July 4, 2021, Teradyne recognized $22.0 million and $49.6 million, respectively, that was previously included within the deferred revenue and customer advances balances
 at the beginning of the period
. During the three and six months ended June 28, 2020, Teradyne recognized $21.1 million and $60.6 million, respectively, that was previously included within the deferred revenue and customer advances balances. This revenue primarily relates to undelivered hardware, extended warranties, training, application support, and post contract support. Each of these represents a distinct performance obligation. As of July 4, 2021, Teradyne has $1,276.0 million of unsatisfied performance obligations. Teradyne expects to recognize 94% of the remaining performance obligations in the next 12 months
 
and 6% in 1-3 years.
Accounts Receivable
Teradyne sells certain trade accounts receivables on a non-recourse basis to third-party financial institutions pursuant to factoring agreements. Teradyne accounts for these transactions as sales of receivables and presents cash proceeds as cash provided by operating activities in the consolidated statements of cash flows. Total trade accounts receivable sold under the factoring agreements were $7.6 million and $50.0 million for the three months ended July 4, 2021 and June 28, 2020, respectively, and $14.9 million and $96.8 million for the six months ended July 4, 2021 and June 28, 2020, respectively. Factoring fees for the sales of receivables were recorded in interest expense and were not material.