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v3.22.4

Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2022
Deferred Revenue and Customer Advances | As of December 31, 2022 and 2021, deferred revenue and customer advances consisted of the following and are included in the short and long-term deferred revenue and customer advances:
|  | 2022 |  |  | 2021 |
|  | (in thousands) |
Maintenance, service and training |  | $ | 78,089 |  |  | $ | 81,826 |
Customer advances, undelivered elements and other |  |  | 59,147 |  |  |  | 55,112 |
Extended warranty |  |  | 56,180 |  |  |  | 64,168 |
Total deferred revenue and customer advances |  | $ | 193,416 |  |  | $ | 201,106 |
Other Accrued Liabilities |
|  | Amount |
|  | (in thousands) |
Balance at December 31, 2019 |  | $ | 8,996 |
Accruals for warranties issued during the period |  |  | 28,490 |
Accruals related to pre-existing warranties |  |  | 821 |
Settlements made during the period |  |  | (21,674 | )
Balance at December 31, 2020 |  |  | 16,633 |
Accruals for warranties issued during the period |  |  | 35,727 |
Accruals related to pre-existing warranties |  |  | (6,846 | )
Settlements made during the period |  |  | (20,937 | )
Balance at December 31, 2021 |  |  | 24,577 |
Accruals for warranties issued during the period |  |  | 21,851 |
Accruals related to pre-existing warranties |  |  | (5,618 | )
Settlements made during the period |  |  | (26,629 | )
Balance at December 31, 2022 |  | $ | 14,181 |
Extended Product Warranty of Short and Long-Term Deferred Revenue and Customer Advances |
|  | Amount |
|  | (in thousands) |
Balance at December 31, 2019 |  | $ | 30,677 |
Deferral of new extended warranty revenue |  |  | 41,694 |
Recognition of extended warranty deferred revenue |  |  | (20,442 | )
Balance at December 31, 2020 |  |  | 51,929 |
Deferral of new extended warranty revenue |  |  | 43,597 |
Recognition of extended warranty deferred revenue |  |  | (31,358 | )
Balance at December 31, 2021 |  |  | 64,168 |
Deferral of new extended warranty revenue |  |  | 33,686 |
Recognition of extended warranty deferred revenue |  |  | (41,674 | )
Balance at December 31, 2022 |  | $ | 56,180 |
Summary of Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure | Prepayments consist of the following:
|  | 2022 |  |  | 2021 |
|  | (in thousands) |
Contract manufacturer and supplier prepayments |  | $ | 491,105 |  |  | $ | 364,478 |
Prepaid taxes |  |  | 18,625 |  |  |  | 15,090 |
Prepaid maintenance and other services |  |  | 14,545 |  |  |  | 13,660 |
Other prepayments |  |  | 8,687 |  |  |  | 13,038 |
Total prepayments |  | $ | 532,962 |  |  | $ | 406,266 |
Useful Lives of Assets | Teradyne provides for depreciation of its assets principally on the straight-line method with the cost of the assets being charged to expense over their useful lives as follows:
Buildings |  | 40 years
Building improvements |  | 5 to 10 years
Leasehold improvements |  | Lesser of lease term or 10 years
Furniture and fixtures |  | 10 years
Test systems manufactured internally |  | 6 years
Machinery, equipment and software |  | 3 to 5 years

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- Definition Tabular disclosure of the amounts paid in advance for capitalized costs that will be expensed with the passage of time or the occurrence of a triggering event, and will be charged against earnings within one year or the normal operating cycle, if longer; the aggregate carrying amount of current assets, not separately presented elsewhere in the balance sheet; and other deferred costs. + References No definition available. + Details
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- Definition Tabular disclosure of the changes in the guarantor's aggregate product warranty liability, including the beginning balance of the aggregate product warranty liability, the aggregate reductions in that liability for payments made (in cash or in kind) under the warranty, the aggregate changes in the liability for accruals related to product warranties issued during the reporting period, the aggregate changes in the liability for accruals related to preexisting warranties (including adjustments related to changes in estimates), and the ending balance of the aggregate product warranty liability. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 8 -URI https://asc.fasb.org/extlink&oid=126907703&loc=d3e12565-110249 + Details
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