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v3.25.2

Segment Information | 6 Months Ended
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Jun. 29, 2025
Segment Reporting [Abstract] |
Segment Information | U. SEGMENT INFORMATION As of December 31, 2024, Teradyne had two reportable segments (Semiconductor Test and Robotics) and four operating segments (Semiconductor Test, System Test, Wireless Test, and Robotics). E ffective March 2025, Teradyne's Chief Operating Decision Maker ("CODM") (Teradyne's Chief Executive Officer) placed Regan Mills as President, Product Test, which as of that date included Production Board Test, Defense/Aerospace, and Wireless Test. As noted in 'Note D. Acquisitions' and based on the underlying business activities and established reporting structure, PIC Testing (acquired during the period) was aggregated into Product Test for the period ended June 29, 2025, and will be for all future periods. As a result, Teradyne has three reportable segments (Semiconductor Test, Robotics, and Product Test). As of June 29, 2025, each of Teradyne's reportable segments represents an individual operating segment. All prior period disclosures have been recast to conform to the current segment structure and presentation requirements. The Semiconductor Test segment includes operations related to the design, manufacturing and marketing of semiconductor test products and services inclusive of storage and system level test products. The Robotics segment includes operations related to the design, manufacturing and marketing of collaborative robotic arms and autonomous mobile robots. The Product Test segment includes operations related to the design, manufacturing and marketing of products and services for defense/aerospace test, circuit-board test, wireless test systems, and silicon photonics testing. Each reportable segment has a segment manager who is accountable to and maintains regular contact with Teradyne’s CODM to discuss operating activities, financial results, forecasts, and plans for the segment. The CODM uses business segment income (loss) before income taxes predominantly in the annual budgeting and forecasting process. The CODM also uses this measure when making decisions about the allocation of operating and capital resources to each segment. The accounting policies of the business segments are the same as those described in Teradyne’s Annual Report on Form 10-K in Note B: “Accounting Policies.” Segment information for the three and six months ended June 29, 2025, and June 30, 2024, is as follows:
| Semiconductor Test |  |  | Robotics |  |  | Product Test |  |  | Total Reportable Segments |  |  | Corporate and Eliminations |  |  | Consolidated |
| (in thousands) |
Three months ended June 29, 2025 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues | $ | 491,878 |  |  | $ | 74,866 |  |  | $ | 85,053 |  |  | $ | 651,797 |  |  | $ | — |  |  | $ | 651,797 |
Less: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of revenues |  | 207,201 |  |  |  | 34,155 |  |  |  | 33,090 |  |  |  | 274,446 |  |  |  | — |  |  |  | 274,446 |
Engineering and development |  | 82,126 |  |  |  | 14,069 |  |  |  | 12,674 |  |  |  | 108,869 |  |  |  | — |  |  |  | 108,869 |
Selling and marketing |  | 52,590 |  |  |  | 24,241 |  |  |  | 11,663 |  |  |  | 88,494 |  |  |  | — |  |  |  | 88,494 |
General and administrative |  | 26,132 |  |  |  | 9,879 |  |  |  | 5,696 |  |  |  | 41,707 |  |  |  | 919 |  |  |  | 42,626 |
Other segment items (1)(2) |  | 28,066 |  |  |  | 11,055 |  |  |  | 6,378 |  |  |  | 45,499 |  |  |  | (4,696 | ) |  |  | 40,803 |
Income (loss) before taxes (2) |  | 95,763 |  |  |  | (18,533 | ) |  |  | 15,552 |  |  |  | 92,782 |  |  |  | 3,777 |  |  |  | 96,559 |
Total assets (3) |  | 1,349,429 |  |  |  | 745,839 |  |  |  | 358,829 |  |  |  | 2,454,097 |  |  |  | 1,307,765 |  |  |  | 3,761,862 |
Property additions |  | 43,593 |  |  |  | 3,528 |  |  |  | 3,287 |  |  |  | 50,408 |  |  |  | — |  |  |  | 50,408 |
Depreciation and amortization expense |  | 23,395 |  |  |  | 6,068 |  |  |  | 1,926 |  |  |  | 31,389 |  |  |  | — |  |  |  | 31,389 |
Three months ended June 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues | $ | 559,916 |  |  | $ | 90,247 |  |  | $ | 79,716 |  |  | $ | 729,879 |  |  | $ | — |  |  | $ | 729,879 |
Less: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of revenues |  | 230,904 |  |  |  | 37,409 |  |  |  | 28,649 |  |  |  | 296,962 |  |  |  | — |  |  |  | 296,962 |
Engineering and development |  | 70,961 |  |  |  | 16,187 |  |  |  | 10,889 |  |  |  | 98,037 |  |  |  | — |  |  |  | 98,037 |
Selling and marketing |  | 47,113 |  |  |  | 28,580 |  |  |  | 12,021 |  |  |  | 87,714 |  |  |  | — |  |  |  | 87,714 |
General and administrative |  | 21,524 |  |  |  | 12,429 |  |  |  | 5,248 |  |  |  | 39,201 |  |  |  | (18 | ) |  |  | 39,183 |
Other segment items (1)(2) |  | 32,207 |  |  |  | 13,558 |  |  |  | 6,638 |  |  |  | 52,403 |  |  |  | (63,823 | ) |  |  | (11,420 | )
Income (loss) before taxes (2) |  | 157,207 |  |  |  | (17,916 | ) |  |  | 16,271 |  |  |  | 155,562 |  |  |  | 63,841 |  |  |  | 219,403 |
Total assets (3) |  | 1,353,880 |  |  |  | 731,264 |  |  |  | 211,339 |  |  |  | 2,296,483 |  |  |  | 1,335,223 |  |  |  | 3,631,706 |
Property additions |  | 35,685 |  |  |  | 7,607 |  |  |  | 1,554 |  |  |  | 44,846 |  |  |  | — |  |  |  | 44,846 |
Depreciation and amortization expense |  | 21,394 |  |  |  | 7,127 |  |  |  | 1,715 |  |  |  | 30,236 |  |  |  | (32 | ) |  |  | 30,204 |
Six months ended June 29, 2025 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues | $ | 1,034,382 |  |  | $ | 143,853 |  |  | $ | 159,242 |  |  | $ | 1,337,477 |  |  | $ | — |  |  | $ | 1,337,477 |
Less: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of revenues |  | 409,948 |  |  |  | 66,447 |  |  |  | 63,125 |  |  |  | 539,520 |  |  |  | — |  |  |  | 539,520 |
Engineering and development |  | 162,337 |  |  |  | 29,924 |  |  |  | 24,213 |  |  |  | 216,474 |  |  |  | — |  |  |  | 216,474 |
Selling and marketing |  | 104,287 |  |  |  | 48,755 |  |  |  | 23,400 |  |  |  | 176,442 |  |  |  | — |  |  |  | 176,442 |
General and administrative |  | 52,684 |  |  |  | 19,744 |  |  |  | 10,665 |  |  |  | 83,093 |  |  |  | 2,681 |  |  |  | 85,774 |
Other segment items (1)(2) |  | 53,561 |  |  |  | 34,693 |  |  |  | 13,651 |  |  |  | 101,905 |  |  |  | 1,778 |  |  |  | 103,683 |
Income (loss) before taxes (2) |  | 251,565 |  |  |  | (55,710 | ) |  |  | 24,188 |  |  |  | 220,043 |  |  |  | (4,459 | ) |  |  | 215,584 |
Total assets (3) |  | 1,349,429 |  |  |  | 745,839 |  |  |  | 358,829 |  |  |  | 2,454,097 |  |  |  | 1,307,765 |  |  |  | 3,761,862 |
Property additions |  | 103,325 |  |  |  | 6,204 |  |  |  | 6,065 |  |  |  | 115,594 |  |  |  | — |  |  |  | 115,594 |
Depreciation and amortization expense |  | 46,260 |  |  |  | 12,009 |  |  |  | 3,432 |  |  |  | 61,701 |  |  |  | (10 | ) |  |  | 61,691 |
Six months ended June 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues | $ | 994,686 |  |  | $ | 177,901 |  |  | $ | 157,111 |  |  | $ | 1,329,698 |  |  | $ | — |  |  | $ | 1,329,698 |
Less: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of revenues |  | 423,797 |  |  |  | 71,862 |  |  |  | 56,927 |  |  |  | 552,586 |  |  |  | — |  |  |  | 552,586 |
Engineering and development |  | 136,609 |  |  |  | 31,974 |  |  |  | 22,689 |  |  |  | 191,272 |  |  |  | — |  |  |  | 191,272 |
Selling and marketing |  | 92,100 |  |  |  | 53,401 |  |  |  | 24,202 |  |  |  | 169,703 |  |  |  | — |  |  |  | 169,703 |
General and administrative |  | 42,586 |  |  |  | 25,646 |  |  |  | 10,364 |  |  |  | 78,596 |  |  |  | 1,754 |  |  |  | 80,350 |
Other segment items (1)(2) |  | 58,992 |  |  |  | 26,910 |  |  |  | 13,142 |  |  |  | 99,044 |  |  |  | (55,562 | ) |  |  | 43,482 |
Income (loss) before taxes (2) |  | 240,602 |  |  |  | (31,892 | ) |  |  | 29,787 |  |  |  | 238,497 |  |  |  | 53,808 |  |  |  | 292,305 |
Total assets (3) |  | 1,353,880 |  |  |  | 731,264 |  |  |  | 211,339 |  |  |  | 2,296,483 |  |  |  | 1,335,223 |  |  |  | 3,631,706 |
Property additions |  | 72,239 |  |  |  | 13,319 |  |  |  | 3,311 |  |  |  | 88,869 |  |  |  | — |  |  |  | 88,869 |
Depreciation and amortization expense |  | 41,264 |  |  |  | 13,558 |  |  |  | 3,465 |  |  |  | 58,287 |  |  |  | 37 |  |  |  | 58,324 |
(1) For each reportable segment, the other segment items category includes equity and variable compensation, acquired intangible assets amortization, inventory step-up, and restructuring and other charges. (2) Included in Corporate and Eliminations are interest income, interest expense, net foreign exchange gains (losses), intercompany eliminations, severance charges, pension and postretirement plan actuarial gains (losses), acquisition and divestiture related expenses, ERP implementation related costs, and an expense for the modification of outstanding equity awards. (3) Total assets are attributable to each segment. Corporate assets consist of cash and cash equivalents, marketable securities, and certain other assets.

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- Definition The entire disclosure for reporting segments including data and tables. 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