XML 60 R48.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Stock-Based Compensation (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract] |
Schedule of Estimated Fair Value of TSR Performance-Based Restricted Stock Unit Awards Assumptions | The fair value was estimated using the Monte Carlo simulation model with the following assumptions:
|  | 2023 |  |  | 2022 |  |  | 2021 |
Risk-free interest rate |  |  | 4.0 | % |  |  | 1.4 | % |  |  | 0.2 | %
Teradyne volatility-historical |  |  | 49.7 | % |  |  | 47.1 | % |  |  | 43.9 | %
NYSE Composite Index volatility-historical |  |  | 24.1 | % |  |  | 22.7 | % |  |  | 22.9 | %
Dividend yield |  |  | 0.4 | % |  |  | 0.4 | % |  |  | 0.4 | %
Fair Value of Stock Options Using Assumptions | The fair value of stock options was estimated using the Black-Scholes option-pricing model with the following assumptions:
|  | 2023 |  |  | 2022 |  |  | 2021 |
Expected life (years) |  |  | 4.0 |  |  |  | 4.0 |  |  |  | 5.0 |
Risk-free interest rate |  |  | 3.8 | % |  |  | 1.6 | % |  |  | 0.4 | %
Volatility-historical |  |  | 46.6 | % |  |  | 43.7 | % |  |  | 37.8 | %
Dividend yield |  |  | 0.4 | % |  |  | 0.4 | % |  |  | 0.4 | %
Stock Compensation Plan Activity | Stock compensation plan activity for the years 2023, 2022 and 2021, is as follows:
|  | 2023 |  |  | 2022 |  |  | 2021 |
|  | (in thousands) |
Restricted Stock Units: |  |  |  |  |  |  |  |  |
Non-vested at January 1 |  |  | 1,317 |  |  |  | 1,417 |  |  |  | 1,789 |
Awarded |  |  | 728 |  |  |  | 660 |  |  |  | 447 |
Vested |  |  | (609 | ) |  |  | (709 | ) |  |  | (749 | )
Forfeited |  |  | (58 | ) |  |  | (51 | ) |  |  | (70 | )
Non-vested at December 31 |  |  | 1,378 |  |  |  | 1,317 |  |  |  | 1,417 |
Stock Options: |  |  |  |  |  |  |  |  |
Outstanding at January 1 |  |  | 188 |  |  |  | 171 |  |  |  | 216 |
Granted |  |  | 41 |  |  |  | 42 |  |  |  | 34 |
Exercised |  |  | (56 | ) |  |  | (25 | ) |  |  | (78 | )
Forfeited |  |  | (2 | ) |  |  | — |  |  |  | (1 | )
Expired |  |  | — |  |  |  | — |  |  |  | — |
Outstanding at December 31 |  |  | 171 |  |  |  | 188 |  |  |  | 171 |
Vested and expected to vest at December 31 |  |  | 171 |  |  |  | 188 |  |  |  | 171 |
Exercisable at December 31 |  |  | 68 |  |  |  | 69 |  |  |  | 30 |
Share Based Compensation Total Shares Available | Total shares available for the years 2023, 2022 and 2021:
|  | 2023 |  |  | 2022 |  |  | 2021 |
|  | (in thousands) |
Shares available: |  |  |  |  |  |  |  |  |
Available for grant at January 1 |  |  | 5,062 |  |  |  | 5,713 |  |  |  | 6,123 |
Options granted |  |  | (41 | ) |  |  | (42 | ) |  |  | (34 | )
Options forfeited |  |  | 2 |  |  |  | — |  |  |  | 1 |
Restricted stock units awarded |  |  | (728 | ) |  |  | (660 | ) |  |  | (447 | )
Restricted stock units forfeited |  |  | 58 |  |  |  | 51 |  |  |  | 70 |
Available for grant at December 31 |  |  | 4,353 |  |  |  | 5,062 |  |  |  | 5,713 |
Weighted-Average Restricted Stock Unit Award Date Fair Value | Weighted average restricted stock unit award date fair value information for the years 2023, 2022 and 2021, is as follows:
|  | 2023 |  |  | 2022 |  |  | 2021 |
Non-vested at January 1 |  | $ | 88.71 |  |  | $ | 67.97 |  |  | $ | 47.84 |
Awarded |  |  | 105.05 |  |  |  | 108.74 |  |  |  | 115.51 |
Vested |  |  | 75.55 |  |  |  | 54.27 |  |  |  | 43.99 |
Forfeited |  |  | 102.12 |  |  |  | 85.71 |  |  |  | 65.52 |
Non-vested at December 31 |  | $ | 101.00 |  |  | $ | 88.71 |  |  | $ | 67.97 |
Restricted Stock Unit Awards Aggregate Intrinsic Value | Restricted stock unit awards aggregate intrinsic value information at December 31 for the years 2023, 2022 and 2021 is as follows:
|  | 2023 |  |  | 2022 |  |  | 2021 |
|  | (in thousands) |
Vested |  | $ | 62,001 |  |  | $ | 95,408 |  |  | $ | 101,679 |
Outstanding |  |  | 149,504 |  |  |  | 115,087 |  |  |  | 231,763 |
Expected to vest |  |  | 135,238 |  |  |  | 108,666 |  |  |  | 231,246 |
Restricted Stock Units Weighted Average Remaining Contractual Terms | Restricted stock units weighted average remaining contractual terms (in years) information at December 31 for the years 2023, 2022 and 2021 is as follows:
|  | 2023 |  |  | 2022 |  |  | 2021 |
Outstanding |  |  | 1.13 |  |  |  | 0.99 |  |  |  | 0.89 |
Expected to vest |  |  | 1.13 |  |  |  | 0.99 |  |  |  | 0.89 |
Weighted Average Stock Options Exercise Price | Weighted average stock options exercise price information for the year ended December 31, 2023 is as follows:
|  | 2023 |
Outstanding at January 1 |  | $ | 76.52 |
Options granted |  |  | 104.15 |
Options exercised |  |  | 39.71 |
Options forfeited |  |  | 112.57 |
Options cancelled |  |  | 113.03 |
Outstanding at December 31 |  |  | 94.85 |
Exercisable at December 31 |  |  | 81.53 |
Stock Option Aggregate Intrinsic Value Information | Stock option aggregate intrinsic value information for the years ended December 31, 2023, 2022 and 2021 is as follows:
|  | 2023 |  |  | 2022 |  |  | 2021 |
|  | (in thousands) |
Exercised |  | $ | 3,901 |  |  | $ | 2,030 |  |  | $ | 6,345 |
Outstanding |  |  | 2,647 |  |  |  | 3,963 |  |  |  | 17,356 |
Expected to vest |  |  | 696 |  |  |  | 1,583 |  |  |  | 13,500 |
Vested and exercisable |  |  | 1,950 |  |  |  | 2,380 |  |  |  | 3,856 |
Stock Options Weighted Average Remaining Contractual Terms | Stock options weighted average remaining contractual terms (in years) information at December 31, for the years 2023, 2022 and 2021 is as follows:
|  | 2023 |  |  | 2022 |  |  | 2021 |
Outstanding |  |  | 4.4 |  |  |  | 4.2 |  |  |  | 4.4 |
Expected to vest |  |  | 5.1 |  |  |  | 4.8 |  |  |  | 4.8 |
Vested and exercisable |  |  | 3.4 |  |  |  | 3.1 |  |  |  | 2.5 |
Effect to Income (Loss) from Operations for Recording Stock-Based Compensation | The following table provides the effect to income from operations for recording stock-based compensation for the years ended December 31, 2023, 2022, and 2021:
|  | 2023 |  |  | 2022 |  |  | 2021 |
|  | (in thousands) |
Cost of revenues |  | $ | 4,208 |  |  | $ | 4,050 |  |  | $ | 4,196 |
Engineering and development |  |  | 10,659 |  |  |  | 9,992 |  |  |  | 9,783 |
Selling and administrative |  |  | 42,815 |  |  |  | 34,186 |  |  |  | 31,664 |
Stock-based compensation |  |  | 57,682 |  |  |  | 48,228 |  |  |  | 45,643 |
Income tax benefit |  |  | (10,397 | ) |  |  | (11,493 | ) |  |  | (14,389 | )
Total stock-based compensation expense after income taxes |  | $ | 47,285 |  |  | $ | 36,735 |  |  | $ | 31,254 |

X
- Definition Schedule Of Share Based Compensation Arrangement By Share Based Payment Award Options Aggregate Intrinsic Value Table Text Block + References No definition available. + Details
Name: | ter_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAggregateIntrinsicValueTableTextBlock
Namespace Prefix: | ter_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule Of Share Based Compensation Arrangement By Share Based Payment Award Options Weighted Average Contractual Terms Table Text Block + References No definition available. + Details
Name: | ter_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsWeightedAverageContractualTermsTableTextBlock
Namespace Prefix: | ter_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule Of Share Based Compensation Arrangement By Share Based Payment Award Total Shares Available Table Text Block + References No definition available. + Details
Name: | ter_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardTotalSharesAvailableTableTextBlock
Namespace Prefix: | ter_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule Of Share Based Payment Award Total Shareholder Return Plan Valuation Assumptions [Table Text Block] + References No definition available. + Details
Name: | ter_ScheduleOfShareBasedPaymentAwardTotalShareholderReturnPlanValuationAssumptionsTableTextBlock
Namespace Prefix: | ter_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule Of Weighted Average Stock Options Exercise Price Table Text Block + References No definition available. + Details
Name: | ter_ScheduleOfWeightedAverageStockOptionsExercisePriceTableTextBlock
Namespace Prefix: | ter_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of activity for outstanding award under share-based payment arrangement excluding share and unit options and nonvested award. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfOtherShareBasedCompensationActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of activity for award under share-based payment arrangement. Includes, but is not limited to, outstanding award at beginning and end of year, granted, exercised, forfeited, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of number, weighted-average exercise price or conversion ratio, aggregate intrinsic value, and weighted-average remaining contractual term for outstanding restricted stock units that are fully vested and expected to vest. Includes, but is not limited to, unvested restricted stock units for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (e)(1) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockUnitsVestedAndExpectedToVestTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
Name: | us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration