XML 23 R15.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

Revenue | 6 Months Ended
--- | ---
Jun. 30, 2024
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 |  |  | System Test |  |  | Robotics |  |  | Wireless Test |  |  |  |
|  | System on-a-Chip |  |  | Memory |  |  |  |  |  | Universal Robots |  |  | Mobile Industrial Robots |  |  |  |  |  | Total |
| (in thousands) |
For the Three Months Ended June 30, 2024 (1) |
Timing of Revenue Recognition |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Point in Time |  | $ | 343,536 |  |  | $ | 121,662 |  |  | $ | 43,519 |  |  | $ | 72,722 |  |  | $ | 15,495 |  |  | $ | 32,273 |  |  | $ | 629,207 |
Over Time |  |  | 70,048 |  |  |  | 7,318 |  |  |  | 17,282 |  |  |  | 1,863 |  |  |  | 167 |  |  |  | 3,994 |  |  |  | 100,672 |
Total |  | $ | 413,584 |  |  | $ | 128,980 |  |  | $ | 60,801 |  |  | $ | 74,585 |  |  | $ | 15,662 |  |  | $ | 36,267 |  |  | $ | 729,879 |
Geographical Market |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Asia Pacific |  | $ | 381,631 |  |  | $ | 124,497 |  |  | $ | 21,259 |  |  | $ | 14,756 |  |  | $ | 5,447 |  |  | $ | 29,293 |  |  | $ | 576,883 |
Americas |  |  | 20,211 |  |  |  | 3,254 |  |  |  | 28,684 |  |  |  | 29,900 |  |  |  | 5,110 |  |  |  | 4,901 |  |  |  | 92,060 |
Europe, Middle East and Africa |  |  | 11,742 |  |  |  | 1,229 |  |  |  | 10,858 |  |  |  | 29,929 |  |  |  | 5,105 |  |  |  | 2,073 |  |  |  | 60,936 |
Total |  | $ | 413,584 |  |  | $ | 128,980 |  |  | $ | 60,801 |  |  | $ | 74,585 |  |  | $ | 15,662 |  |  | $ | 36,267 |  |  | $ | 729,879 |
For the Three Months Ended July 2, 2023 (1) |
Timing of Revenue Recognition |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Point in Time |  | $ | 282,080 |  |  | $ | 112,547 |  |  | $ | 76,801 |  |  | $ | 55,737 |  |  | $ | 12,770 |  |  | $ | 40,261 |  |  | $ | 580,196 |
Over Time |  |  | 72,614 |  |  |  | 7,467 |  |  |  | 17,471 |  |  |  | 2,116 |  |  |  | 1,011 |  |  |  | 3,562 |  |  |  | 104,241 |
Total |  | $ | 354,694 |  |  | $ | 120,014 |  |  | $ | 94,272 |  |  | $ | 57,853 |  |  | $ | 13,781 |  |  | $ | 43,823 |  |  | $ | 684,437 |
Geographical Market |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Asia Pacific |  | $ | 303,062 |  |  | $ | 115,250 |  |  | $ | 41,644 |  |  | $ | 14,883 |  |  | $ | 2,291 |  |  | $ | 22,362 |  |  | $ | 499,492 |
Americas |  |  | 32,191 |  |  |  | 4,286 |  |  |  | 40,163 |  |  |  | 22,832 |  |  |  | 6,086 |  |  |  | 19,491 |  |  |  | 125,049 |
Europe, Middle East and Africa |  |  | 19,441 |  |  |  | 478 |  |  |  | 12,465 |  |  |  | 20,138 |  |  |  | 5,404 |  |  |  | 1,970 |  |  |  | 59,896 |
Total |  | $ | 354,694 |  |  | $ | 120,014 |  |  | $ | 94,272 |  |  | $ | 57,853 |  |  | $ | 13,781 |  |  | $ | 43,823 |  |  | $ | 684,437 |
For the Six Months Ended June 30, 2024 (2) |
Timing of Revenue Recognition |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Point in Time |  | $ | 573,127 |  |  | $ | 224,098 |  |  | $ | 101,592 |  |  | $ | 138,615 |  |  | $ | 34,785 |  |  | $ | 53,187 |  |  | $ | 1,125,405 |
Over Time |  |  | 142,764 |  |  |  | 14,828 |  |  |  | 34,531 |  |  |  | 3,731 |  |  |  | 770 |  |  |  | 7,669 |  |  |  | 204,293 |
Total |  | $ | 715,891 |  |  | $ | 238,926 |  |  | $ | 136,123 |  |  | $ | 142,346 |  |  | $ | 35,555 |  |  | $ | 60,856 |  |  | $ | 1,329,698 |
Geographical Market |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Asia Pacific |  | $ | 652,197 |  |  | $ | 220,103 |  |  | $ | 47,040 |  |  | $ | 26,381 |  |  | $ | 8,401 |  |  | $ | 46,434 |  |  | $ | 1,000,557 |
Americas |  |  | 42,762 |  |  |  | 12,306 |  |  |  | 65,278 |  |  |  | 49,905 |  |  |  | 19,735 |  |  |  | 10,725 |  |  |  | 200,711 |
Europe, Middle East and Africa |  |  | 20,932 |  |  |  | 6,517 |  |  |  | 23,805 |  |  |  | 66,060 |  |  |  | 7,419 |  |  |  | 3,697 |  |  |  | 128,430 |
Total |  | $ | 715,891 |  |  | $ | 238,926 |  |  | $ | 136,123 |  |  | $ | 142,346 |  |  | $ | 35,555 |  |  | $ | 60,856 |  |  | $ | 1,329,698 |
For the Six Months Ended July 2, 2023 (2) |
Timing of Revenue Recognition |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Point in Time |  | $ | 555,354 |  |  | $ | 173,805 |  |  | $ | 133,658 |  |  | $ | 125,760 |  |  | $ | 28,735 |  |  | $ | 75,624 |  |  | $ | 1,092,937 |
Over Time |  |  | 146,173 |  |  |  | 14,384 |  |  |  | 35,245 |  |  |  | 4,124 |  |  |  | 2,229 |  |  |  | 6,874 |  |  |  | 209,029 |
Total |  | $ | 701,528 |  |  | $ | 188,189 |  |  | $ | 168,903 |  |  | $ | 129,884 |  |  | $ | 30,964 |  |  | $ | 82,498 |  |  | $ | 1,301,966 |
Geographical Market |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Asia Pacific |  | $ | 586,321 |  |  | $ | 178,945 |  |  | $ | 81,234 |  |  | $ | 28,100 |  |  | $ | 3,793 |  |  | $ | 45,593 |  |  | $ | 923,986 |
Americas |  |  | 73,759 |  |  |  | 7,230 |  |  |  | 69,143 |  |  |  | 43,273 |  |  |  | 17,898 |  |  |  | 32,337 |  |  |  | 243,640 |
Europe, Middle East and Africa |  |  | 41,448 |  |  |  | 2,014 |  |  |  | 18,526 |  |  |  | 58,511 |  |  |  | 9,273 |  |  |  | 4,568 |  |  |  | 134,340 |
Total |  | $ | 701,528 |  |  | $ | 188,189 |  |  | $ | 168,903 |  |  | $ | 129,884 |  |  | $ | 30,964 |  |  | $ | 82,498 |  |  | $ | 1,301,966 |
(1) Include s $0.8 million and $1.3 million in 2024 and 2023, respectively, for leases of Teradyne’s systems recognized outside Accounting Standards Codification (“ASC”) 606 “Revenue from Contracts with Customers.” (2) Includes $1.7 million and $2.5 million in 2024 and 2023, respectively, for leases of Teradyne’s systems recognized outside Accounting Standards Codification (“ASC”) 606 “Revenue from Contracts with Customers.” Contract Balances During the three and six months ended June 30, 2024, Teradyne recognized $18.7 million and $46.9 million, respectively, that was included within the deferred revenue and customer advances balances at the beginning of the period. During the three and six months ended July 2, 2023, Teradyne recognized $27.3 million and $68.4 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 June 30, 2024, Teradyne had $1,049.9 million of unsatisfied performance obligations. Teradyne expects to recognize approximately 95% 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:
|  | June 30, 2024 |  |  | December 31, 2023 |
|  | (in thousands) |
Maintenance, service and training |  | $ | 62,001 |  |  | $ | 66,458 |
Customer advances, undelivered elements and other |  |  | 43,621 |  |  |  | 35,731 |
Extended warranty |  |  | 33,512 |  |  |  | 34,897 |
Total deferred revenue and customer advances |  | $ | 139,134 |  |  | $ | 137,086 |
Accounts Receivable During the three and six months ended June 30, 2024, and July 2, 2023, 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 June 30, 2024, and July 2, 2023, total trade accounts receivable sold under the factoring agreements were $57.3 million and $59.3 million, respectively. During the six months ended June 30, 2024, and July 2, 2023, total trade accounts receivable sold under the factoring agreements were $80.7 million and $93.5 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.

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

X
- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
Name: | us-gaap_RevenueFromContractWithCustomerTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration