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Operating Segment, Geographic and Significant Customer Information (Tables) | 12 Months Ended
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Dec. 31, 2023
Segment Reporting [Abstract] |
Segment Information | Segment information for the years ended December 31, 2023, 2022 and 2021 is as follows:
| Semiconductor Test |  |  | System Test |  |  | Robotics |  |  | Wireless Test |  |  | Segment Total |  |  | Corporate and Eliminations |  |  | Consolidated |
| (in thousands) |
2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues | $ | 1,818,636 |  |  | $ | 338,197 |  |  | $ | 375,183 |  |  | $ | 144,282 |  |  | $ | 2,676,298 |  |  | $ | — |  |  | $ | 2,676,298 |
Income (loss) before taxes (1)(2) |  | 453,320 |  |  |  | 94,073 |  |  |  | (54,251 | ) |  |  | 30,568 |  |  |  | 523,710 |  |  |  | 1,862 |  |  |  | 525,572 |
Total assets (3) |  | 1,329,522 |  |  |  | 182,084 |  |  |  | 737,323 |  |  |  | 68,291 |  |  |  | 2,317,220 |  |  |  | 1,169,604 |  |  |  | 3,486,824 |
Property additions |  | 113,415 |  |  |  | 3,643 |  |  |  | 40,739 |  |  |  | 1,845 |  |  |  | 159,642 |  |  |  | — |  |  |  | 159,642 |
Depreciation and amortization expense |  | 77,745 |  |  |  | 3,801 |  |  |  | 25,527 |  |  |  | 4,043 |  |  |  | 111,116 |  |  |  | (230 | ) |  |  | 110,886 |
2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues | $ | 2,080,590 |  |  | $ | 469,346 |  |  | $ | 403,138 |  |  | $ | 201,720 |  |  | $ | 3,154,794 |  |  | $ | 251 |  |  | $ | 3,155,045 |
Income (loss) before taxes (1)(2) |  | 634,488 |  |  |  | 166,879 |  |  |  | (16,244 | ) |  |  | 66,820 |  |  |  | 851,943 |  |  |  | (11,558 | ) |  |  | 840,385 |
Total assets (3) |  | 1,382,623 |  |  |  | 165,925 |  |  |  | 665,638 |  |  |  | 94,298 |  |  |  | 2,308,484 |  |  |  | 1,192,768 |  |  |  | 3,501,252 |
Property additions |  | 126,898 |  |  |  | 7,275 |  |  |  | 25,712 |  |  |  | 3,364 |  |  |  | 163,249 |  |  |  | — |  |  |  | 163,249 |
Depreciation and amortization expense |  | 76,532 |  |  |  | 3,235 |  |  |  | 25,339 |  |  |  | 4,991 |  |  |  | 110,097 |  |  |  | 578 |  |  |  | 110,675 |
2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues | $ | 2,642,342 |  |  | $ | 467,739 |  |  | $ | 375,905 |  |  | $ | 216,895 |  |  | $ | 3,702,881 |  |  | $ | — |  |  | $ | 3,702,881 |
Income (loss) before taxes (1)(2) |  | 976,988 |  |  |  | 163,064 |  |  |  | (8,167 | ) |  |  | 83,543 |  |  |  | 1,215,428 |  |  |  | (54,473 | ) |  |  | 1,160,955 |
Total assets (3) |  | 1,245,596 |  |  |  | 170,954 |  |  |  | 701,196 |  |  |  | 107,513 |  |  |  | 2,225,259 |  |  |  | 1,584,166 |  |  |  | 3,809,425 |
Property additions |  | 115,618 |  |  |  | 3,905 |  |  |  | 9,821 |  |  |  | 3,128 |  |  |  | 132,472 |  |  |  | — |  |  |  | 132,472 |
Depreciation and amortization expense |  | 75,982 |  |  |  | 3,156 |  |  |  | 27,336 |  |  |  | 6,055 |  |  |  | 112,529 |  |  |  | 12,956 |  |  |  | 125,485 |
(1) Included in Corporate and Eliminations are interest income, interest expense, net foreign exchange gains (losses), intercompany eliminations, pension and postretirement plan actuarial gains (losses), legal and environmental fees, contingent consideration adjustments, acquisition and divestiture related expenses, contract termination settlement charge, an expense for the modification of Teradyne's former chief executive officer's outstanding equity awards, and loss on convertible debt conversions in 2021. (2) Included in income (loss) before taxes are charges and credits related to restructuring and other, inventory charges and loss on convertible debt conversions in 2021. (3) Total assets are attributable to each segment. Semiconductor Test includes $34.8 million of total assets classified as assets held for sale. See Note E: “Assets held for sale” for additional information. 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 Years Ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
|  | (in thousands) |
Semiconductor Test: |  |  |  |  |  |  |  |  |
Cost of revenues—inventory charge |  | $ | 22,482 |  |  | $ | 21,456 |  |  | $ | 6,661 |
Restructuring and other—employee severance |  |  | 5,666 |  |  |  | — |  |  |  | — |
System Test: |  |  |  |  |  |  |  |  |
Cost of revenues—inventory charge |  | $ | 1,855 |  |  | $ | 1,730 |  |  | $ | 641 |
Restructuring and other—employee severance |  |  | 1,541 |  |  | $ | — |  |  | $ | — |
Robotics: |  |  |  |  |  |  |  |  |
Cost of revenues—inventory charge |  | $ | 2,275 |  |  | $ | 3,668 |  |  | $ | 6,403 |
Restructuring and other—employee severance |  |  | 3,707 |  |  |  | 2,115 |  |  |  | 1,210 |
Restructuring and other—acquisition & divestiture related expenses |  |  | — |  |  |  | — |  |  |  | 1,000 |
Wireless: |  |  |  |  |  |  |  |  |
Cost of revenues—inventory charge |  | $ | 1,746 |  |  | $ | 4,598 |  |  | $ | 1,770 |
Corporate and Eliminations: |  |  |  |  |  |  |  |  |
Selling and administrative—equity modification charge |  | $ | 5,889 |  |  | $ | — |  |  | $ | — |
Restructuring and other—employee severance |  |  | 3,599 |  |  |  | — |  |  |  | — |
Restructuring and other—acquisition & divestiture related expenses |  |  | 3,562 |  |  |  | — |  |  |  | (513 | )
Restructuring and other—contract termination |  |  | 1,511 |  |  |  | — |  |  |  | — |
Restructuring and other—environmental and legal liabilities |  |  | 1,100 |  |  |  | 2,700 |  |  |  | 1,971 |
Other (income) expense, net—gain on foreign exchange option |  |  | (7,464 | ) |  |  | — |  |  |  | — |
Restructuring and other—legal settlement charge |  |  | — |  |  |  | 14,700 |  |  |  | 12,000 |
Restructuring and other—gain on sale of asset |  |  | — |  |  |  | (3,410 | ) |  |  | — |
Other (income) expense, net—loss on convertible debt conversion |  |  | — |  |  |  | — |  |  |  | 28,828 |
Restructuring and other—AutoGuide contingent consideration adjustment |  |  | — |  |  |  | — |  |  |  | (7,227 | )
Revenues by Country | Information as to Teradyne’s revenues by country is as follows:
|  | 2023 |  |  | 2022 |  |  | 2021 |
|  | (in thousands) |
Revenues from customers (1): |  |  |  |  |  |  |  |  |
United States |  | $ | 433,661 |  |  | $ | 469,948 |  |  | $ | 392,626 |
Korea |  |  | 394,690 |  |  |  | 544,816 |  |  |  | 502,167 |
Taiwan |  |  | 384,842 |  |  |  | 626,424 |  |  |  | 1,117,874 |
China |  |  | 314,899 |  |  |  | 491,798 |  |  |  | 631,963 |
Japan |  |  | 281,742 |  |  |  | 162,920 |  |  |  | 166,231 |
Europe |  |  | 273,784 |  |  |  | 268,384 |  |  |  | 259,954 |
Philippines |  |  | 189,419 |  |  |  | 124,107 |  |  |  | 166,838 |
Singapore |  |  | 116,969 |  |  |  | 99,503 |  |  |  | 121,582 |
Thailand |  |  | 91,818 |  |  |  | 137,356 |  |  |  | 138,812 |
Malaysia |  |  | 89,197 |  |  |  | 142,203 |  |  |  | 136,774 |
Rest of the World |  |  | 105,277 |  |  |  | 87,586 |  |  |  | 68,060 |
|  | $ | 2,676,298 |  |  | $ | 3,155,045 |  |  | $ | 3,702,881 |
(1) Revenues attributable to a country are based on location of customer site.
Long-Lived Assets by Geographic Area | Long-lived assets by geographic area:
|  | United States |  |  | Foreign (1) |  |  | Total |
|  | (in thousands) |
December 31, 2023 (2) |  | $ | 322,445 |  |  | $ | 207,995 |  |  | $ | 530,440 |
December 31, 2022 |  | $ | 328,341 |  |  | $ | 164,076 |  |  | $ | 492,417 |
(1) As of December 31, 2023 and December 31, 2022, long-lived assets attributable to Denmark were $78.1 million and $42.5 million, respectively. (2) Includes $11.5 million of long-lived assets classified as assets held for sale. See Note E: “Assets held for sale” for additional information.

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