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Segment Information | 9 Months Ended
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Oct. 02, 2022
Segment Reporting [Abstract] |
Segment Information | S. SEGMENT INFORMATION Teradyne has four reportable segments (Semiconductor Test, System Test, Industrial Automation and Wireless Test). Each of the reportable segments is also an individual operating segment. The Semiconductor Test segment includes operations related to the design, manufacturing and marketing of semiconductor test products and services. The System Test segment includes operations related to the design, manufacturing and marketing of products and services for defense/aerospace instrumentation test, storage and system level test, and circuit-board test. The Industrial Automation segment includes operations related to the design, manufacturing and marketing of collaborative robotic arms, autonomous mobile robots and advanced robotic control software. The Wireless Test segment includes operations related to the design, manufacturing and marketing of wireless test products and services. Each operating segment has a segment manager who is accountable to and maintains regular contact with Teradyne’s chief operating decision maker (Teradyne’s chief executive officer) to discuss operating activities, financial results, forecasts, and plans for the segment. Teradyne evaluates performance based on several factors, of which the primary financial measure is business segment income (loss) before income taxes. The accounting policies of the business segments in effect are described in Note B: “Accounting Policies” in Teradyne’s Annual Report on Form 10-K for the year ended December 31, 2021. Segment information for the three and nine months ended October 2, 2022 and October 3, 2021 is as follows:
|  | Semiconductor Test |  |  | System Test |  |  | Industrial Automation |  |  | Wireless Test |  |  | Corporate and Eliminations |  |  | Consolidated |
|  | (in thousands) |
Three Months Ended October 2, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 575,704 |  |  | $ | 116,154 |  |  | $ | 89,067 |  |  | $ | 46,148 |  |  | $ | — |  |  | $ | 827,073 |
Income (loss) before income taxes (1)(2) |  |  | 182,625 |  |  |  | 40,201 |  |  |  | (3,992 | ) |  |  | 12,647 |  |  |  | (5,284 | ) |  |  | 226,197 |
Total assets (3) |  |  | 1,366,478 |  |  |  | 192,684 |  |  |  | 614,558 |  |  |  | 110,484 |  |  |  | 1,035,702 |  |  |  | 3,319,906 |
Three Months Ended October 3, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 688,232 |  |  | $ | 102,605 |  |  | $ | 91,014 |  |  | $ | 68,713 |  |  | $ | (63 | ) |  | $ | 950,501 |
Income (loss) before income taxes (1)(2) |  |  | 265,017 |  |  |  | 31,773 |  |  |  | (4,226 | ) |  |  | 31,726 |  |  |  | (26,535 | ) |  |  | 297,755 |
Total assets (3) |  |  | 1,251,549 |  |  |  | 147,970 |  |  |  | 696,792 |  |  |  | 119,568 |  |  |  | 1,546,303 |  |  |  | 3,762,182 |
Nine Months Ended October 2, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 1,599,392 |  |  | $ | 369,525 |  |  | $ | 292,772 |  |  | $ | 161,520 |  |  | $ | — |  |  | $ | 2,423,209 |
Income (loss) before income taxes (1)(2) |  |  | 510,112 |  |  |  | 135,566 |  |  |  | (15,496 | ) |  |  | 56,659 |  |  |  | (41,693 | ) |  |  | 645,148 |
Total assets (3) |  |  | 1,366,478 |  |  |  | 192,684 |  |  |  | 614,558 |  |  |  | 110,484 |  |  |  | 1,035,702 |  |  |  | 3,319,906 |
Nine Months Ended October 3, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 2,050,271 |  |  | $ | 340,261 |  |  | $ | 263,151 |  |  | $ | 164,504 |  |  | $ | (352 | ) |  | $ | 2,817,835 |
Income (loss) before income taxes (1)(2) |  |  | 778,687 |  |  |  | 116,788 |  |  |  | (14,586 | ) |  |  | 63,810 |  |  |  | (38,925 | ) |  |  | 905,774 |
Total assets (3) |  |  | 1,251,549 |  |  |  | 147,970 |  |  |  | 696,792 |  |  |  | 119,568 |  |  |  | 1,546,303 |  |  |  | 3,762,182 |
(1) | Included in Corporate and Eliminations are: legal and environmental fees, contingent consideration fair value adjustments, interest income, interest expense, severance charges, net foreign exchange gains (losses), acquisition related charges and compensation, pension, intercompany eliminations and for the three and nine months ended October 3, 2021, loss on convertible debt conversions.
(2) | Included in income (loss) before taxes are charges and credits related to restructuring and other, inventory charges and, for the three and nine months ended October 3, 2021, loss on convertible debt conversions.
(3) | Total assets are attributable to each segment. Corporate assets consist of cash and cash equivalents, marketable securities, and certain other assets.
Included in each segment are charges and credits in the following line items in the statements of operations:
|  | For the Three Months Ended |  |  | For the Nine Months Ended |
|  | October 2, 2022 |  |  | October 3, 2021 |  |  | October 2, 2022 |  |  | October 3, 2021 |
|  | (in thousands) |
Semiconductor Test: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of revenues—inventory charge |  | $ | 10,829 |  |  | $ | 3,725 |  |  | $ | 13,144 |  |  | $ | 4,959 |
Industrial Automation: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Restructuring and other—employee severance |  | $ | 1,074 |  |  | $ | — |  |  | $ | 1,616 |  |  | $ | 965 |
Cost of revenues—inventory charge |  |  | — |  |  |  | 3,656 |  |  |  | 1,411 |  |  |  | 4,941 |
Restructuring and other—acquisition related expenses and compensation |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 825 |
Wireless: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of revenues—inventory charge |  | $ | 966 |  |  | $ | 679 |  |  | $ | 3,942 |  |  | $ | 1,351 |
System Test: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of revenues—inventory charge |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 524 |
Corporate and Eliminations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Restructuring and other—other |  | $ | 700 |  |  | $ | — |  |  | $ | 2,700 |  |  | $ | 1,846 |
Restructuring and other—legal settlement charge |  |  | — |  |  |  | — |  |  |  | 14,700 |  |  |  | — |
Other (income) expense, net—loss on convertible debt conversions |  |  | — |  |  |  | 20,153 |  |  |  | — |  |  |  | 25,397 |
Restructuring and other—AutoGuide contingent consideration adjustment |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (7,227 | )
Restructuring and other—acquisition related expenses and compensation |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (513 | )

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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