On May 27, 2024, Teradyne paid 483.1 million Euros, equivalent to $524.1 million, to purchase a combination of previously issued and outstanding shares and shares newly issued by Technoprobe, S.p.A. ("Technoprobe"). The shares purchased represent 10% of the issued and outstanding shares of Technoprobe. Teradyne also received a board seat as part of the purchase. Teradyne accounts for this investment using the equity method as a result of being able to exercise significant influence over the operating and financial decisions of Technoprobe. The carrying value of this equity method investment as of March 30, 2025, was $509.6 million in the consolidated balance sheets.


	(in thousands)
Balance at December 31, 2024	$	494,494
Other comprehensive income related to investment		20,716
Equity in net earnings of affiliate		(5,584	)
Balance at March 30, 2025	$	509,626

Based on the quoted closing price of Technoprobe stock as of March 30, 2025, the fair value of the publicly traded investment was $411.5 million. Due to the decline in Technoprobe's stock price since the time of investment, Teradyne has evaluated Technoprobe's financial condition and performance, which remains profitable with strong product offerings and a positive forecast, as well as Teradyne's intent and ability to hold the investment. As a result, as of March 30, 2025, there was no other-than-temporary impairment. Teradyne will continue to monitor this investment, the stock price, and macroeconomic factors in order to evaluate the appropriate carrying value of the asset for future reporting periods.

Teradyne's equity method basis difference was calculated as the difference between the investment and the amount of underlying equity in net assets acquired. The basis differences, net of tax, will be amortized over the estimated useful lives.

Teradyne made an accounting policy election to report its share of Technoprobe's results on a 3-month lag, which is applied consistently from period to period. Teradyne records its share of Technoprobe's net income or loss and the amortization of equity method basis difference, as 'Equity in net earnings of affiliate' in the consolidated statements of operations. Teradyne includes its share of Technoprobe's other comprehensive income and a cumulative translation adjustment in the consolidated statements of comprehensive income.