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v3.23.2

Segment Information (Tables) | 6 Months Ended
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Jul. 02, 2023
Segment Information | Segment information for the three and six months ended July 2, 2023 and July 3, 2022 is as follows:
|  | Semiconductor Test |  |  | System Test |  |  | Robotics |  |  | Wireless Test |  |  | Corporate and Eliminations |  |  | Consolidated |
|  | (in thousands) |
Three Months Ended July 2, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 474,708 |  |  | $ | 94,272 |  |  | $ | 71,634 |  |  | $ | 43,823 |  |  | $ | — |  |  | $ | 684,437 |
Income (loss) before income taxes (1)(2) |  |  | 129,040 |  |  |  | 28,599 |  |  |  | (26,401 | ) |  |  | 12,020 |  |  |  | 1,144 |  |  |  | 144,402 |
Total assets (3) |  |  | 1,416,109 |  |  |  | 191,002 |  |  |  | 685,132 |  |  |  | 88,869 |  |  |  | 1,013,784 |  |  |  | 3,394,896 |
Three Months Ended July 3, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 541,348 |  |  | $ | 134,702 |  |  | $ | 101,055 |  |  | $ | 63,854 |  |  | $ | (193 | ) |  | $ | 840,766 |
Income (loss) before income taxes (1)(2) |  |  | 177,782 |  |  |  | 54,042 |  |  |  | (6,406 | ) |  |  | 25,393 |  |  |  | (12,219 | ) |  |  | 238,592 |
Total assets (3) |  |  | 1,449,878 |  |  |  | 229,359 |  |  |  | 644,099 |  |  |  | 118,445 |  |  |  | 1,046,645 |  |  |  | 3,488,426 |
Six Months Ended July 2, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 889,717 |  |  | $ | 168,903 |  |  | $ | 160,848 |  |  | $ | 82,498 |  |  | $ | — |  |  | $ | 1,301,966 |
Income (loss) before income taxes (1)(2) |  |  | 225,225 |  |  |  | 43,874 |  |  |  | (44,891 | ) |  |  | 21,372 |  |  |  | (4,094 | ) |  |  | 241,486 |
Total assets (3) |  |  | 1,416,109 |  |  |  | 191,002 |  |  |  | 685,132 |  |  |  | 88,869 |  |  |  | 1,013,784 |  |  |  | 3,394,896 |
Six Months Ended July 3, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 1,023,688 |  |  | $ | 253,371 |  |  | $ | 204,244 |  |  | $ | 115,372 |  |  | $ | (539 | ) |  | $ | 1,596,136 |
Income (loss) before income taxes (1)(2) |  |  | 327,487 |  |  |  | 95,365 |  |  |  | (11,504 | ) |  |  | 44,012 |  |  |  | (36,409 | ) |  |  | 418,951 |
Total assets (3) |  |  | 1,449,878 |  |  |  | 229,359 |  |  |  | 644,099 |  |  |  | 118,445 |  |  |  | 1,046,645 |  |  |  | 3,488,426 |
(1) | Included in Corporate and Eliminations are: interest income, interest expense, net foreign exchange gains (losses), intercompany eliminations, legal and environmental fees, severance charges, pension, and an expense for the modification of Teradyne’s former chief executive officer’s outstanding equity awards.
(2) | Included in income (loss) before taxes are charges related to restructuring and other, and inventory charges.
(3) | Total assets are attributable to each segment. Corporate assets consist of cash and cash equivalents, marketable securities, and certain other assets.
Schedule of Segment Reporting Information by Segment Charges | 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 Six Months Ended |
|  | July 2, 2023 |  |  | July 3, 2022 |  |  | July 2, 2023 |  |  | July 3, 2022 |
|  | (in thousands) |
Semiconductor Test: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of revenues—inventory charge |  | $ | 4,184 |  |  | $ | 2,071 |  |  | $ | 7,952 |  |  | $ | 2,315 |
Restructuring and other—employee severance |  |  | 2,485 |  |  |  | — |  |  |  | 3,279 |  |  |  |  |
System Test: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of revenues—inventory charge |  | $ | — |  |  | $ | — |  |  | $ | 1,113 |  |  | $ | — |
Restructuring and other—employee severance |  |  | — |  |  |  | — |  |  |  | 642 |  |  |  | — |
Robotics: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Restructuring and other—employee severance |  | $ | 1,638 |  |  | $ | — |  |  | $ | 2,071 |  |  | $ | — |
Cost of revenues—inventory charge |  |  | 769 |  |  |  | 831 |  |  |  | 1,551 |  |  |  | 1,197 |
Wireless: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of revenues—inventory charge |  | $ | — |  |  | $ | 2,099 |  |  | $ | 725 |  |  | $ | 2,976 |
Corporate and Eliminations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Restructuring and other—other |  | $ | 1,100 |  |  |  | 1,500 |  |  |  | 1,100 |  |  |  | 2,000 |
Restructuring and other—employee severance |  |  | — |  |  |  | — |  |  |  | 1,124 |  |  |  | — |
Selling and administrative—equity modification charge |  |  | — |  |  |  | — |  |  |  | 5,889 |  |  |  | — |
Restructuring and other—legal settlement charge |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 14,700 |

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