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Segment Information (Tables)
 9 Months Ended
Sep. 29, 2024
Segment Information

Segment information for the three and nine months ended September 29, 2024, and October 1, 2023, is as follows:

 

 

 

Semiconductor
Test

 

 

System
Test

 

 

Robotics

 

 

Wireless
Test

 

 

Segment Total

 

 

Corporate
and
Eliminations

 

 

Consolidated

 

 

 

(in thousands)

 

Three Months Ended September 29, 2024

 

Revenues

 

$

542,734

 

 

$

73,312

 

 

$

88,651

 

 

$

32,601

 

 

$

737,298

 

 

$

—

 

 

$

737,298

 

Income (loss) before income taxes (1)(2)

 

 

163,778

 

 

 

12,522

 

 

 

(24,206

)

 

 

4,279

 

 

$

156,373

 

 

 

2,611

 

 

$

158,984

 

Total assets (3)

 

 

1,308,031

 

 

 

178,291

 

 

 

794,277

 

 

 

76,882

 

 

$

2,357,481

 

 

 

1,412,247

 

 

$

3,769,728

 

Three Months Ended October 1, 2023

 

Revenues

 

$

497,863

 

 

$

83,203

 

 

$

85,692

 

 

$

36,974

 

 

$

703,732

 

 

$

—

 

 

$

703,732

 

Income (loss) before income taxes (1)(2)

 

 

136,451

 

 

 

23,754

 

 

 

(21,812

)

 

 

9,469

 

 

$

147,862

 

 

 

(3,582

)

 

$

144,280

 

Total assets (3)

 

 

1,382,444

 

 

 

178,904

 

 

 

684,207

 

 

 

92,514

 

 

$

2,338,069

 

 

 

1,032,586

 

 

$

3,370,655

 

Nine Months Ended September 29, 2024

 

Revenues

 

$

1,497,552

 

 

$

209,435

 

 

$

266,552

 

 

$

93,457

 

 

$

2,066,996

 

 

$

—

 

 

$

2,066,996

 

Income (loss) before income taxes (1)(2)

 

 

401,475

 

 

 

36,138

 

 

 

(56,099

)

 

 

13,355

 

 

$

394,869

 

 

 

56,420

 

 

$

451,289

 

Total assets (3)

 

 

1,308,031

 

 

 

178,291

 

 

 

794,277

 

 

 

76,882

 

 

$

2,357,481

 

 

 

1,412,247

 

 

$

3,769,728

 

Nine Months Ended October 1, 2023

 

Revenues

 

$

1,387,580

 

 

$

252,106

 

 

$

246,541

 

 

$

119,472

 

 

$

2,005,699

 

 

$

—

 

 

$

2,005,699

 

Income (loss) before income taxes (1)(2)

 

 

361,676

 

 

 

67,629

 

 

 

(66,704

)

 

 

30,841

 

 

$

393,442

 

 

 

(7,675

)

 

$

385,767

 

Total assets (3)

 

 

1,382,444

 

 

 

178,904

 

 

 

684,207

 

 

 

92,514

 

 

$

2,338,069

 

 

 

1,032,586

 

 

$

3,370,655

 

 

(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, legal settlement, pension mark-to-market, and inventory charges.
(3)
Total assets are attributable to each segment. 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 Three Months
 Ended

 

 

For the Nine Months
 Ended

 

 

 

September 29,
2024

 

 

October 1,
2023

 

 

September 29,
2024

 

 

October 1,
2023

 

 

 

(in thousands)

 

 

(in thousands)

 

Semiconductor Test:

 

 

 

 

 

 

 

 

 

 

 

 

Cost of revenues—inventory charge

 

$

4,041

 

 

$

10,422

 

 

$

11,405

 

 

$

18,374

 

Restructuring and other—employee severance

 

 

—

 

 

 

1,776

 

 

 

1,277

 

 

 

5,055

 

System Test:

 

 

 

 

 

 

 

 

 

 

 

 

Cost of revenues—inventory charge

 

$

—

 

 

$

—

 

 

$

1,016

 

 

$

1,412

 

Restructuring and other—employee severance

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1,124

 

Robotics:

 

 

 

 

 

 

 

 

 

 

 

 

Cost of revenues—legal settlement

 

$

3,600

 

 

$

—

 

 

$

3,600

 

 

$

—

 

Restructuring and other—employee severance

 

 

1,110

 

 

 

636

 

 

 

2,647

 

 

 

2,707

 

Cost of revenues—inventory charge

 

 

537

 

 

 

652

 

 

 

1,071

 

 

 

2,203

 

Wireless:

 

 

 

 

 

 

 

 

 

 

 

 

Cost of revenues—inventory charge

 

$

1,204

 

 

$

—

 

 

$

2,024

 

 

$

1,080

 

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

 

 

—

 

 

 

1,753

 

 

 

—

 

 

 

2,877

 

Restructuring and other—contract termination

 

 

—

 

 

 

1,511

 

 

 

—

 

 

 

1,511

 

Restructuring and other—other

 

 

2,437

 

 

 

—

 

 

 

2,437

 

 

 

1,100