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v3.22.2.2

Revenue | 9 Months Ended
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Oct. 02, 2022
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. During the three months ended October 2, 2022 Teradyne combined Mobile Industrial Robots and AutoGuide into one business unit. Revenues for all periods shown below have been combined accordingly.
|  | Semiconductor Test |  |  |  |  |  | Industrial Automation |  |  |  |  |  |  |  |  |  |
|  | System on-a-Chip |  |  | Memory |  |  | System Test |  |  | Universal Robots |  |  | Mobile Industrial Robots |  |  | Wireless Test |  |  | Corporate and Eliminations |  |  | Total |
|  | (in thousands) |
For the Three Months Ended October 2, 2022 (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Timing of Revenue Recognition |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Point in Time |  | $ | 383,801 |  |  | $ | 117,943 |  |  | $ | 93,248 |  |  | $ | 71,300 |  |  | $ | 15,025 |  |  | $ | 42,885 |  |  | $ | — |  |  | $ | 724,202 |
Over Time |  |  | 66,614 |  |  |  | 7,346 |  |  |  | 22,906 |  |  |  | 2,062 |  |  |  | 680 |  |  |  | 3,263 |  |  |  | — |  |  |  | 102,871 |
Total |  | $ | 450,415 |  |  | $ | 125,289 |  |  | $ | 116,154 |  |  | $ | 73,362 |  |  | $ | 15,705 |  |  | $ | 46,148 |  |  | $ | — |  |  | $ | 827,073 |
Geographical Market |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Asia Pacific |  | $ | 399,323 |  |  | $ | 122,839 |  |  | $ | 73,768 |  |  | $ | 18,850 |  |  | $ | 2,917 |  |  | $ | 34,420 |  |  | $ | — |  |  | $ | 652,117 |
Americas |  |  | 31,719 |  |  |  | 2,129 |  |  |  | 35,865 |  |  |  | 26,515 |  |  |  | 8,877 |  |  |  | 9,481 |  |  |  | — |  |  |  | 114,586 |
Europe, Middle East and Africa |  |  | 19,373 |  |  |  | 321 |  |  |  | 6,521 |  |  |  | 27,997 |  |  |  | 3,911 |  |  |  | 2,247 |  |  |  | — |  |  |  | 60,370 |
Total |  | $ | 450,415 |  |  | $ | 125,289 |  |  | $ | 116,154 |  |  | $ | 73,362 |  |  | $ | 15,705 |  |  | $ | 46,148 |  |  | $ | — |  |  | $ | 827,073 |
For the Three Months Ended October 3, 2021 (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Timing of Revenue Recognition |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Point in Time |  | $ | 508,747 |  |  | $ | 105,454 |  |  | $ | 88,155 |  |  | $ | 76,008 |  |  | $ | 12,577 |  |  | $ | 65,409 |  |  | $ | (63 | ) |  | $ | 856,287 |
Over Time |  |  | 66,270 |  |  |  | 7,761 |  |  |  | 14,450 |  |  |  | 1,742 |  |  |  | 687 |  |  |  | 3,304 |  |  |  | — |  |  |  | 94,214 |
Total |  | $ | 575,017 |  |  | $ | 113,215 |  |  | $ | 102,605 |  |  | $ | 77,750 |  |  | $ | 13,264 |  |  | $ | 68,713 |  |  | $ | (63 | ) |  | $ | 950,501 |
Geographical Market |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Asia Pacific |  | $ | 519,886 |  |  | $ | 110,362 |  |  | $ | 62,757 |  |  | $ | 19,654 |  |  | $ | 2,788 |  |  | $ | 54,344 |  |  | $ | — |  |  | $ | 769,791 |
Americas |  |  | 29,119 |  |  |  | 2,281 |  |  |  | 34,560 |  |  |  | 23,429 |  |  |  | 5,321 |  |  |  | 11,352 |  |  |  | (63 | ) |  |  | 105,999 |
Europe, Middle East and Africa |  |  | 26,012 |  |  |  | 572 |  |  |  | 5,288 |  |  |  | 34,667 |  |  |  | 5,155 |  |  |  | 3,017 |  |  |  | — |  |  |  | 74,711 |
Total |  | $ | 575,017 |  |  | $ | 113,215 |  |  | $ | 102,605 |  |  | $ | 77,750 |  |  | $ | 13,264 |  |  | $ | 68,713 |  |  | $ | (63 | ) |  | $ | 950,501 |
For the Nine Months Ended October 2, 2022 (2) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Timing of Revenue Recognition |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Point in Time |  | $ | 1,102,467 |  |  | $ | 281,456 |  |  | $ | 317,230 |  |  | $ | 234,352 |  |  | $ | 49,570 |  |  | $ | 152,079 |  |  | $ | — |  |  | $ | 2,137,154 |
Over Time |  |  | 193,996 |  |  |  | 21,473 |  |  |  | 52,295 |  |  |  | 6,268 |  |  |  | 2,582 |  |  |  | 9,441 |  |  |  | — |  |  |  | 286,055 |
Total |  | $ | 1,296,463 |  |  | $ | 302,929 |  |  | $ | 369,525 |  |  | $ | 240,620 |  |  | $ | 52,152 |  |  | $ | 161,520 |  |  | $ | — |  |  | $ | 2,423,209 |
Geographical Market |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Asia Pacific |  | $ | 1,153,599 |  |  | $ | 294,986 |  |  | $ | 243,135 |  |  | $ | 54,828 |  |  | $ | 10,826 |  |  | $ | 113,472 |  |  | $ | — |  |  | $ | 1,870,846 |
Americas |  |  | 90,148 |  |  |  | 6,727 |  |  |  | 105,884 |  |  |  | 81,857 |  |  |  | 24,670 |  |  |  | 36,628 |  |  |  | — |  |  |  | 345,914 |
Europe, Middle East and Africa |  |  | 52,716 |  |  |  | 1,216 |  |  |  | 20,506 |  |  |  | 103,935 |  |  |  | 16,656 |  |  |  | 11,420 |  |  |  | — |  |  |  | 206,449 |
Total |  | $ | 1,296,463 |  |  | $ | 302,929 |  |  | $ | 369,525 |  |  | $ | 240,620 |  |  | $ | 52,152 |  |  | $ | 161,520 |  |  | $ | — |  |  | $ | 2,423,209 |
|  | Semiconductor Test |  |  |  |  |  | Industrial Automation |  |  |  |  |  |  |  |  |  |
|  | System on-a-Chip |  |  | Memory |  |  | System Test |  |  | Universal Robots |  |  | Mobile Industrial Robots |  |  | Wireless Test |  |  | Corporate and Eliminations |  |  | Total |
|  | (in thousands) |
For the Nine Months Ended October 3, 2021 (2) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Timing of Revenue Recognition |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Point in Time |  | $ | 1,548,895 |  |  | $ | 291,578 |  |  | $ | 295,666 |  |  | $ | 214,427 |  |  | $ | 41,612 |  |  | $ | 154,908 |  |  | $ | (352 | ) |  | $ | 2,546,734 |
Over Time |  |  | 188,022 |  |  |  | 21,776 |  |  |  | 44,595 |  |  |  | 5,001 |  |  |  | 2,111 |  |  |  | 9,596 |  |  |  | — |  |  |  | 271,101 |
Total |  | $ | 1,736,917 |  |  | $ | 313,354 |  |  | $ | 340,261 |  |  | $ | 219,428 |  |  | $ | 43,723 |  |  | $ | 164,504 |  |  | $ | (352 | ) |  | $ | 2,817,835 |
Geographical Market |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Asia Pacific |  | $ | 1,618,117 |  |  | $ | 301,562 |  |  | $ | 223,507 |  |  | $ | 55,531 |  |  | $ | 8,674 |  |  | $ | 133,678 |  |  | $ | — |  |  | $ | 2,341,069 |
Americas |  |  | 71,562 |  |  |  | 9,373 |  |  |  | 98,475 |  |  |  | 66,390 |  |  |  | 17,799 |  |  |  | 24,228 |  |  |  | (352 | ) |  |  | 287,475 |
Europe, Middle East and Africa |  |  | 47,238 |  |  |  | 2,419 |  |  |  | 18,279 |  |  |  | 97,507 |  |  |  | 17,250 |  |  |  | 6,598 |  |  |  | — |  |  |  | 189,291 |
Total |  | $ | 1,736,917 |  |  | $ | 313,354 |  |  | $ | 340,261 |  |  | $ | 219,428 |  |  | $ | 43,723 |  |  | $ | 164,504 |  |  | $ | (352 | ) |  | $ | 2,817,835 |
(1) | Includes $1.8 million and $3.8 million in 2022 and 2021, respectively, for leases of Teradyne’s systems recognized outside Accounting Standards Codification (“ASC”) 606 “Revenue from Contracts with Customers.”
(2) | Includes $5.9 million and $11.1 million in 2022 and 2021, respectively, for leases of Teradyne’s systems recognized outside ASC 606 “Revenue from Contracts with Customers.”
Contract Balances During the three and nine months ended October 2, 2022, Teradyne recognized $27.1 million and $87.3 million, respectively, that was previously included within the deferred revenue and customer advances balances at the beginning of the period. During the three and nine months ended October 3, 2021, Teradyne recognized $32.9 million and $82.5 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 October 2, 2022, Teradyne has $1,506 million of unsatisfied performance obligations. Teradyne expects to recognize 88% of the remaining performance obligations in the next 12 months and 12% in 1-3 years. Deferred revenue and customer advances consist of the following at October 2, 2022 and December 31, 2021, and are included in short and long-term deferred revenue and customer advances on the balance sheet:
|  | October 2, 2022 |  |  | December 31, 2021 |
|  | (in thousands) |
Maintenance, service and training |  | $ | 76,310 |  |  | $ | 81,826 |
Extended warranty |  |  | 61,920 |  |  |  | 64,168 |
Customer advances, undelivered elements and other |  |  | 53,849 |  |  |  | 55,112 |
Total deferred revenue and customer advances |  | $ | 192,079 |  |  | $ | 201,106 |
Accounts Receivable During the three and nine months ended October 2, 2022 and October 3, 2021, Teradyne sold certain trade accounts receivables on a non-recourse basis to third-party financial institutions pursuant to factoring agreements. During the three months ended October 2, 2022 and October 3, 2021, total trade accounts receivable sold under the factoring agreements were $15.9 million and $66.9 million, respectively. During the nine months ended October 2, 2022 and October 3, 2021, total trade accounts receivable sold under the factoring agreements were $73.0 million and $81.7 million, respectively. Factoring fees for the sales of receivables were recorded in interest expense and were not material. Teradyne accounted for these transactions as sales of receivables and presented cash proceeds as cash provided by operating activities in the consolidated statements of cash flows.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI https://asc.fasb.org/topic&trid=49130388 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 + Details
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