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Income Taxes (Tables)

6 Months Ended

Jul. 02, 2023

Reconciliation of Effective Tax Rate

A reconciliation of the United States federal statutory corporate tax rate to Teradyne’s effective tax rate was as follows:

		For the Three Months Ended								For the Six Months Ended
		July 2, 2023				July 3, 2022				July 2, 2023				July 3, 2022
U.S. statutory federal tax rate			21.0	%			21.0	%			21.0	%			21.0	%
Discrete expense related to foreign currency gain/loss			1.2				0.6				0.7				0.6
Non-deductible officers’ compensation			1.0				1.4				1.0				1.3
International provisions of the U.S. Tax Cuts and Jobs Act of 2017			(2.5	)			(1.0	)			(2.8	)			(1.2	)
Tax credits			(2.4	)			(2.0	)			(2.4	)			(1.8	)
Discrete benefit related to equity compensation			(0.1	)			(0.2	)			(1.4	)			(2.9	)
Foreign taxes			(1.0	)			(3.2	)			(0.8	)			(3.3	)
Other, net			(0.3	)			0.5				0.4				0.4
Effective tax rate			16.9	%			17.1	%			15.7	%			14.1	%

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- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 12
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-12

+ Details

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