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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jul. 04, 2021
Jun. 28, 2020
Jul. 04, 2021
Jun. 28, 2020
Revenues:        
Total revenues $ 1,085,728 [1] $ 838,661 [1] $ 1,867,334 [2] $ 1,543,016 [2]
Cost of revenues:        
Total cost of revenues (exclusive of acquired intangible assets amortization shown separately below) 438,739 367,188 758,727 665,993
Gross profit 646,989 471,473 1,108,607 877,023
Operating expenses:        
Selling and administrative 140,187 113,259 269,984 224,647
Engineering and development 110,021 94,102 210,423 179,261
Acquired intangible assets amortization 5,402 8,941 10,938 18,832
Restructuring and other 2,507 37,222 (4,623) 29,616
Total operating expenses 258,117 253,524 486,722 452,356
Income from operations 388,872 217,949 621,885 424,667
Non-operating (income) expense:        
Interest income (633) (1,368) (1,441) (4,119)
Interest expense 5,566 6,043 11,569 11,594
Other (income) expense, net (87) (4,017) 3,738 2,833
Income before income taxes 384,026 217,291 608,019 414,359
Income tax provision 55,707 28,383 74,188 49,261
Net income $ 328,319 $ 188,908 $ 533,831 $ 365,098
Net income per common share:        
Basic $ 1.98 $ 1.14 $ 3.21 $ 2.20
Diluted $ 1.76 $ 1.05 $ 2.85 $ 2.02
Weighted average common shares—basic 165,995 165,789 166,243 166,189
Weighted average common shares—diluted 186,750 180,257 187,245 180,497
Cash dividend declared per common share $ 0.10 $ 0.10 $ 0.20 $ 0.20
Product [Member]        
Revenues:        
Total revenues $ 951,945 $ 734,630 $ 1,612,453 $ 1,345,536
Cost of revenues:        
Total cost of revenues (exclusive of acquired intangible assets amortization shown separately below) 388,845 322,732 656,629 582,728
Service [Member]        
Revenues:        
Total revenues 133,783 104,031 254,881 197,480
Cost of revenues:        
Total cost of revenues (exclusive of acquired intangible assets amortization shown separately below) $ 49,894 $ 44,456 $ 102,098 $ 83,265
[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.”