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Revenue | 12 Months Ended
--- | ---
Dec. 31, 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 |  |  | Corporate and Eliminations |  |  | Total |
| (in thousands) |
For the Year Ended December 31, 2023 (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Timing of Revenue Recognition |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Point in Time |  | $ | 1,141,882 |  |  | $ | 356,417 |  |  | $ | 268,379 |  |  | $ | 296,252 |  |  | $ | 66,986 |  |  | $ | 129,399 |  |  | $ | — |  |  | $ | 2,259,315 |
Over Time |  |  | 290,739 |  |  |  | 29,598 |  |  |  | 69,818 |  |  |  | 7,540 |  |  |  | 4,405 |  |  |  | 14,883 |  |  |  | — |  |  |  | 416,983 |
Total |  | $ | 1,432,621 |  |  | $ | 386,015 |  |  | $ | 338,197 |  |  | $ | 303,792 |  |  | $ | 71,391 |  |  | $ | 144,282 |  |  | $ | — |  |  | $ | 2,676,298 |
Geographical Market |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Asia Pacific |  | $ | 1,214,322 |  |  | $ | 366,151 |  |  | $ | 153,387 |  |  | $ | 63,312 |  |  | $ | 10,424 |  |  | $ | 85,415 |  |  | $ | — |  |  | $ | 1,893,011 |
Americas |  |  | 117,728 |  |  |  | 11,367 |  |  |  | 151,579 |  |  |  | 111,761 |  |  |  | 36,191 |  |  |  | 50,770 |  |  |  | — |  |  |  | 479,396 |
Europe, Middle East and Africa |  |  | 100,571 |  |  |  | 8,497 |  |  |  | 33,231 |  |  |  | 128,719 |  |  |  | 24,776 |  |  |  | 8,097 |  |  |  | — |  |  |  | 303,891 |
Total |  | $ | 1,432,621 |  |  | $ | 386,015 |  |  | $ | 338,197 |  |  | $ | 303,792 |  |  | $ | 71,391 |  |  | $ | 144,282 |  |  | $ | — |  |  | $ | 2,676,298 |
For the Year Ended December 31, 2022 (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Timing of Revenue Recognition |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Point in Time |  | $ | 1,445,238 |  |  | $ | 344,693 |  |  | $ | 402,074 |  |  | $ | 317,514 |  |  | $ | 73,812 |  |  | $ | 189,040 |  |  | $ | 251 |  |  | $ | 2,772,622 |
Over Time |  |  | 261,646 |  |  |  | 29,013 |  |  |  | 67,272 |  |  |  | 8,218 |  |  |  | 3,594 |  |  |  | 12,680 |  |  |  | — |  |  |  | 382,423 |
Total |  | $ | 1,706,884 |  |  | $ | 373,706 |  |  | $ | 469,346 |  |  | $ | 325,732 |  |  | $ | 77,406 |  |  | $ | 201,720 |  |  | $ | 251 |  |  | $ | 3,155,045 |
Geographical Market |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Asia Pacific |  | $ | 1,514,964 |  |  | $ | 360,176 |  |  | $ | 294,350 |  |  | $ | 73,930 |  |  | $ | 15,724 |  |  | $ | 140,767 |  |  | $ | — |  |  | $ | 2,399,911 |
Americas |  |  | 122,575 |  |  |  | 11,987 |  |  |  | 146,040 |  |  |  | 112,203 |  |  |  | 35,213 |  |  |  | 47,350 |  |  |  | 251 |  |  |  | 475,619 |
Europe, Middle East and Africa |  |  | 69,345 |  |  |  | 1,543 |  |  |  | 28,956 |  |  |  | 139,599 |  |  |  | 26,469 |  |  |  | 13,603 |  |  |  | — |  |  |  | 279,515 |
Total |  | $ | 1,706,884 |  |  | $ | 373,706 |  |  | $ | 469,346 |  |  | $ | 325,732 |  |  | $ | 77,406 |  |  | $ | 201,720 |  |  | $ | 251 |  |  | $ | 3,155,045 |
For the Year Ended December 31, 2021 (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Timing of Revenue Recognition |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Point in Time |  | $ | 1,989,979 |  |  | $ | 365,441 |  |  | $ | 409,383 |  |  | $ | 305,512 |  |  | $ | 60,884 |  |  | $ | 204,247 |  |  | $ | — |  |  | $ | 3,335,446 |
Over Time |  |  | 256,751 |  |  |  | 30,171 |  |  |  | 58,356 |  |  |  | 5,670 |  |  |  | 3,839 |  |  |  | 12,648 |  |  |  | — |  |  |  | 367,435 |
Total |  | $ | 2,246,730 |  |  | $ | 395,612 |  |  | $ | 467,739 |  |  | $ | 311,182 |  |  | $ | 64,723 |  |  | $ | 216,895 |  |  | $ | — |  |  | $ | 3,702,881 |
Geographical Market |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Asia Pacific |  | $ | 2,076,647 |  |  | $ | 381,444 |  |  | $ | 306,812 |  |  | $ | 81,456 |  |  | $ | 12,919 |  |  | $ | 172,103 |  |  | $ | — |  |  | $ | 3,031,381 |
Americas |  |  | 102,702 |  |  |  | 10,665 |  |  |  | 135,230 |  |  |  | 94,897 |  |  |  | 26,069 |  |  |  | 36,173 |  |  |  | — |  |  |  | 405,736 |
Europe, Middle East and Africa |  |  | 67,381 |  |  |  | 3,503 |  |  |  | 25,697 |  |  |  | 134,829 |  |  |  | 25,735 |  |  |  | 8,619 |  |  |  | — |  |  |  | 265,764 |
Total |  | $ | 2,246,730 |  |  | $ | 395,612 |  |  | $ | 467,739 |  |  | $ | 311,182 |  |  | $ | 64,723 |  |  | $ | 216,895 |  |  | $ | — |  |  | $ | 3,702,881 |
(1) Includes $5.2 m illion, $8.2 million and $13.2 million in 2023, 2022 and 2021, respectively, for leases of Teradyne’s systems recognized outside of ASC 606: “Revenue from Contracts with Customers.” Contract Balances For the years ended December 31, 2023, 2022 and 2021, Teradyne recognized $108.1 million, $112.4 million and $102.5 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 December 31, 2023, Teradyne had $1,124.6 million of unsatisfied performance obligations. Teradyne expects to recognize 90% of the remaining performance obligation in the next 12 months, 9% in 1-3 year s, and 1% thereafter.

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