XML 16 R4.htm IDEA: XBRL DOCUMENT v3.25.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenues:      
Total revenues [1],[2] $ 2,819,880 $ 2,676,298 $ 3,155,045
Cost of revenues:      
Total cost of revenues (exclusive of acquired intangible assets amortization shown separately below) 1,170,953 1,139,550 1,287,894
Gross profit 1,648,927 1,536,748 1,867,151
Operating expenses:      
Selling and administrative 617,047 577,315 558,103
Engineering and development 460,876 418,089 440,591
Acquired intangible assets amortization 18,764 18,999 19,333
Restructuring and other 15,571 21,277 17,185
Gain on sale of business (57,119) 0 0
Total operating expenses 1,055,139 1,035,680 1,035,212
Income from operations 593,788 501,068 831,939
Non-operating (income) expenses:      
Interest income (24,772) (27,348) (6,379)
Interest expense 3,587 3,806 3,719
Other (income) expense, net 5,887 (962) (5,786)
Income before income taxes and equity in net earnings of affiliate 609,086 525,572 840,385
Income tax provision 59,503 76,820 124,884
Income before equity in net earnings of affiliate 549,583 448,752 715,501
Equity in net earnings of affiliate (7,211) 0 0
Net income $ 542,372 $ 448,752 $ 715,501
Net income per common share:      
Basic $ 3.41 $ 2.91 $ 4.52
Diluted $ 3.32 $ 2.73 $ 4.22
Weighted average common shares—basic 159,083 154,310 158,434
Weighted average common shares—diluted 163,314 164,304 169,734
Product [Member]      
Revenues:      
Total revenues $ 2,294,935 $ 2,096,286 $ 2,591,572
Cost of revenues:      
Total cost of revenues (exclusive of acquired intangible assets amortization shown separately below) 960,888 882,892 1,042,555
Service [Member]      
Revenues:      
Total revenues 524,945 580,012 563,473
Cost of revenues:      
Total cost of revenues (exclusive of acquired intangible assets amortization shown separately below) $ 210,065 $ 256,658 $ 245,339
[1] Includes $3.7 million, $5.2 million and $8.2 million in 2024, 2023 and 2022, respectively, for leases of Teradyne’s systems recognized outside of ASC 606: “Revenue from Contracts with Customers.”
[2] Revenues attributable to a country are based on location of customer site.