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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jul. 02, 2023
Jul. 03, 2022
Jul. 02, 2023
Jul. 03, 2022
Revenues:        
Total revenues $ 684,437 [1] $ 840,766 [1] $ 1,301,966 [2] $ 1,596,136 [2]
Cost of revenues:        
Total cost of revenues (exclusive of acquired intangible assets amortization shown separately below) 281,945 334,377 543,054 634,814
Gross profit 402,492 506,389 758,912 961,322
Operating expenses:        
Selling and administrative 145,695 139,533 296,650 279,718
Engineering and development 105,706 111,951 211,468 220,067
Acquired intangible assets amortization 4,825 4,871 9,627 9,934
Restructuring and other 6,358 2,044 8,395 17,758
Total operating expenses 262,584 258,399 526,140 527,477
Income from operations 139,908 247,990 232,772 433,845
Non-operating (income) expense:        
Interest income (6,354) (951) (11,613) (1,653)
Interest expense 1,045 913 2,031 1,925
Other (income) expense, net 815 9,436 868 14,622
Income before income taxes [3],[4] 144,402 238,592 241,486 418,951
Income tax provision 24,352 40,805 37,905 59,236
Net income $ 120,050 $ 197,787 $ 203,581 $ 359,715
Net income per common share:        
Basic $ 0.78 $ 1.24 $ 1.31 $ 2.24
Diluted $ 0.73 $ 1.16 $ 1.23 $ 2.07
Weighted average common shares—basic 154,760 159,563 155,332 160,805
Weighted average common shares—diluted 164,751 171,159 165,530 173,367
Product [Member]        
Revenues:        
Total revenues $ 540,375 $ 697,954 $ 1,013,793 $ 1,323,829
Cost of revenues:        
Total cost of revenues (exclusive of acquired intangible assets amortization shown separately below) 217,011 274,674 415,675 517,690
Service [Member]        
Revenues:        
Total revenues 144,062 142,812 288,173 272,307
Cost of revenues:        
Total cost of revenues (exclusive of acquired intangible assets amortization shown separately below) $ 64,934 $ 59,703 $ 127,379 $ 117,124
[1] Includes $1.3 million and $1.9 million in 2023 and 2022, respectively, for leases of Teradyne’s systems recognized outside Accounting Standards Codification (“ASC”) 606 “Revenue from Contracts with Customers.”
[2] Includes $2.5 million and $4.2 million in 2023 and 2022, respectively, for leases of Teradyne’s systems recognized outside ASC 606 “Revenue from Contracts with Customers.”
[3] 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.
[4] Included in income (loss) before taxes are charges related to restructuring and other, and inventory charges.