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Segment Information | 3 Months Ended
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Mar. 31, 2024
Segment Reporting [Abstract] |
Segment Information | S. SEGMENT INFORMATION Teradyne has four reportable segments (Semiconductor Test, System Test, Wireless Test and Robotics). Each of the reportable segments represents an individual operating segment. The Semiconductor Test segment includes operations related to the design, manufacturing and marketing of semiconductor test products and services. The System Test segment includes operations related to the design, manufacturing and marketing of products and services for storage and system level test, defense/aerospace instrumentation test, and circuit-board test. The Wireless Test segment includes operations related to the design, manufacturing and marketing of wireless test products and services. The Robotics segment includes operations related to the design, manufacturing and marketing of collaborative robotic arms, autonomous mobile robots and advanced robotic control software. Each operating segment has a segment manager who is accountable to and maintains regular contract with Teradyne’s chief operating decision maker (Teradyne’s chief executive officer) to discuss operating activities, financial results, forecasts, and plans for the segment. Teradyne evaluates performance based on several factors, of which the primary financial measure is business segment income (loss) before income taxes. The accounting policies of the business segments are the same as those described in Note B: “Accounting Policies” in Teradyne’s Annual Report on Form 10-K for the year ended December 31, 2023. Segment information for the three months ended March 31, 2024 and April 2, 2023 is as follows:
|  | Semiconductor Test |  |  | System Test |  |  | Robotics |  |  | Wireless Test |  |  | Segment Total |  |  | Corporate and Eliminations |  |  | Consolidated |
|  | (in thousands) |
Three Months Ended March 31, 2024 |
Revenues |  | $ | 412,254 |  |  | $ | 75,322 |  |  | $ | 87,654 |  |  | $ | 24,589 |  |  | $ | 599,819 |  |  | $ | — |  |  | $ | 599,819 |
Income (loss) before income taxes (1)(2) |  |  | 79,414 |  |  |  | 18,391 |  |  |  | (14,047 | ) |  |  | (893 | ) |  | $ | 82,865 |  |  |  | (9,963 | ) |  | $ | 72,902 |
Total assets (3) |  |  | 1,348,829 |  |  |  | 181,803 |  |  |  | 721,318 |  |  |  | 69,519 |  |  | $ | 2,321,469 |  |  |  | 1,089,251 |  |  | $ | 3,410,720 |
Three Months Ended April 2, 2023 |
Revenues |  | $ | 415,009 |  |  | $ | 74,631 |  |  | $ | 89,214 |  |  | $ | 38,675 |  |  | $ | 617,529 |  |  | $ | — |  |  | $ | 617,529 |
Income (loss) before income taxes (1)(2) |  |  | 96,185 |  |  |  | 15,275 |  |  |  | (18,490 | ) |  |  | 9,352 |  |  | $ | 102,322 |  |  |  | (5,238 | ) |  | $ | 97,084 |
Total assets (3) |  |  | 1,386,851 |  |  |  | 173,669 |  |  |  | 676,092 |  |  |  | 87,875 |  |  | $ | 2,324,487 |  |  |  | 1,058,920 |  |  | $ | 3,383,407 |
(1) Included in Corporate and Eliminations are: interest income, interest expense, net foreign exchange gains (losses), intercompany eliminations, severance charges, pension, acquisition and divestiture related fees, and an expense for the modification of outstanding equity awards. (2) Included in income (loss) before taxes are charges related to restructuring and other, expense for the modification of outstanding equity awards, and inventory charges. (3) Total assets are attributable to each segment. Semiconductor Test includ es $33.9 million o f 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. Included in each segment are charges and credits in the following line items in the statements of operations:
|  | For the Three Months Ended |
|  | March 31, 2024 |  |  | April 2, 2023 |
|  | (in thousands) |
Semiconductor Test: |  |  |  |  |  |
Cost of revenues—inventory charge |  | $ | 4,956 |  |  | $ | 3,768 |
Restructuring and other—employee severance |  |  | 983 |  |  |  | 794 |
System Test: |  |  |  |  |  |
Cost of revenues—inventory charge |  | $ | — |  |  | $ | 675 |
Robotics: |  |  |  |  |  |
Cost of revenues—inventory charge |  | $ | — |  |  | $ | 782 |
Corporate and Eliminations: |  |  |  |  |  |
Restructuring and other—acquisition & divestiture related expenses |  |  | 2,214 |  |  |  | — |
Selling and administrative —equity modification |  |  | 1,469 |  |  |  | 5,889 |
Restructuring and other—employee severance |  | $ | — |  |  | $ | 659 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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