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v3.23.3

Revenue | 9 Months Ended
--- | ---
Oct. 01, 2023
Revenue from Contract with Customer [Abstract] |
Revenue | D. REVENUE Disaggregation of Revenue The following table provides information about disaggregated revenue by timing of revenue recognition, primary geographical market, and major product lines.
|  | Semiconductor Test |  |  |  |  |  | Robotics |  |  |  |  |  |  |
|  | System on-a-Chip |  |  | Memory |  |  | System Test |  |  | Universal Robots |  |  | Mobile Industrial Robots |  |  | Wireless Test |  |  | Total |
| (in thousands) |
For the Three Months Ended October 1, 2023 (1) |
Timing of Revenue Recognition |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Point in Time |  | $ | 330,846 |  |  | $ | 86,247 |  |  | $ | 66,418 |  |  | $ | 68,938 |  |  | $ | 14,012 |  |  | $ | 32,638 |  |  | $ | 599,099 |
Over Time |  |  | 73,264 |  |  |  | 7,506 |  |  |  | 16,785 |  |  |  | 1,607 |  |  |  | 1,135 |  |  |  | 4,336 |  |  |  | 104,633 |
Total |  | $ | 404,110 |  |  | $ | 93,753 |  |  | $ | 83,203 |  |  | $ | 70,545 |  |  | $ | 15,147 |  |  | $ | 36,974 |  |  | $ | 703,732 |
Geographical Market |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Asia Pacific |  | $ | 360,375 |  |  | $ | 91,352 |  |  | $ | 40,464 |  |  | $ | 15,430 |  |  | $ | 3,180 |  |  | $ | 24,727 |  |  | $ | 535,528 |
Americas |  |  | 24,752 |  |  |  | 1,356 |  |  |  | 35,888 |  |  |  | 26,073 |  |  |  | 7,154 |  |  |  | 10,139 |  |  |  | 105,362 |
Europe, Middle East and Africa |  |  | 18,983 |  |  |  | 1,045 |  |  |  | 6,851 |  |  |  | 29,042 |  |  |  | 4,813 |  |  |  | 2,108 |  |  |  | 62,842 |
Total |  | $ | 404,110 |  |  | $ | 93,753 |  |  | $ | 83,203 |  |  | $ | 70,545 |  |  | $ | 15,147 |  |  | $ | 36,974 |  |  | $ | 703,732 |
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 Nine Months Ended October 1, 2023 (2) |
Timing of Revenue Recognition |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Point in Time |  | $ | 886,201 |  |  | $ | 260,052 |  |  | $ | 200,076 |  |  | $ | 194,698 |  |  | $ | 42,748 |  |  | $ | 108,262 |  |  | $ | 1,692,038 |
Over Time |  |  | 219,436 |  |  |  | 21,890 |  |  |  | 52,030 |  |  |  | 5,731 |  |  |  | 3,364 |  |  |  | 11,210 |  |  |  | 313,661 |
Total |  | $ | 1,105,638 |  |  | $ | 281,942 |  |  | $ | 252,106 |  |  | $ | 200,429 |  |  | $ | 46,112 |  |  | $ | 119,472 |  |  | $ | 2,005,699 |
Geographical Market |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Asia Pacific |  | $ | 946,696 |  |  | $ | 270,297 |  |  | $ | 121,698 |  |  | $ | 43,530 |  |  | $ | 6,973 |  |  | $ | 70,320 |  |  | $ | 1,459,514 |
Americas |  |  | 98,511 |  |  |  | 8,586 |  |  |  | 105,031 |  |  |  | 69,346 |  |  |  | 25,051 |  |  |  | 42,476 |  |  |  | 349,001 |
Europe, Middle East and Africa |  |  | 60,431 |  |  |  | 3,059 |  |  |  | 25,377 |  |  |  | 87,553 |  |  |  | 14,088 |  |  |  | 6,676 |  |  |  | 197,184 |
Total |  | $ | 1,105,638 |  |  | $ | 281,942 |  |  | $ | 252,106 |  |  | $ | 200,429 |  |  | $ | 46,112 |  |  | $ | 119,472 |  |  | $ | 2,005,699 |
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 |
(1) Includes $1.4 million and $1.8 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 $3.9 mi llion and $5.9 million in 2023 and 2022, 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 1, 2023, Teradyne recognized $21.9 million and $91.3 million, respectively, that was included within the deferred revenue and customer advances balances at the beginning of the period. During the three and nine months ended October 2, 2022, Teradyne recognized $27.1 million and $87.3 million, respectively, that was included within the deferred revenue and customer advances balances at the beginning of the period. 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 1, 2023, Teradyne had $1,133 million of unsatisfied performance obligations. Teradyne expects to recognize approximately 89% of the remaining performance obligations in the next 12 months and the remainder in 1-3 years. Deferred revenue and customer advances consist of the following and are included in short and long-term deferred revenue and customer advances on the balance sheet:
|  | October 1, 2023 |  |  | December 31, 2022 |
|  | (in thousands) |
Maintenance, service and training |  | $ | 65,720 |  |  | $ | 78,089 |
Extended warranty |  |  | 38,843 |  |  |  | 56,180 |
Customer advances, undelivered elements and other |  |  | 39,287 |  |  |  | 59,147 |
Total deferred revenue and customer advances |  | $ | 143,850 |  |  | $ | 193,416 |
Accounts Receivable During the three and nine months ended October 1, 2023 and October 2, 2022, 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 1, 2023 and October 2, 2022, total trade accounts receivable sold under the factoring agreements were $94.1 million and $15.9 million, respectively. During the nine months ended October 1, 2023 and October 2, 2022, total trade accounts receivable sold under the factoring agreements were $191.2 million and $73.0 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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