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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Apr. 03, 2022
Apr. 04, 2021
Revenues:    
Total revenues [1] $ 755,370 $ 781,606
Cost of revenues:    
Total cost of revenues (exclusive of acquired intangible assets amortization shown separately below) 300,437 319,988
Gross profit 454,933 461,618
Operating expenses:    
Selling and administrative 140,185 129,797
Engineering and development 108,116 100,402
Acquired intangible assets amortization 5,063 5,536
Restructuring and other 15,714 (7,130)
Total operating expenses 269,078 228,605
Income from operations 185,855 233,013
Non-operating (income) expense:    
Interest income (703) (808)
Interest expense 1,012 6,004
Other (income) expense, net 5,187 3,824
Income before income taxes [2],[3] 180,359 223,993
Income tax provision 18,431 18,481
Net income $ 161,928 $ 205,512
Net income per common share:    
Basic $ 1.00 $ 1.23
Diluted $ 0.92 $ 1.09
Weighted average common shares—basic 162,048 166,491
Weighted average common shares—diluted 175,575 187,740
Product [Member]    
Revenues:    
Total revenues $ 625,875 $ 660,508
Cost of revenues:    
Total cost of revenues (exclusive of acquired intangible assets amortization shown separately below) 243,016 267,784
Service [Member]    
Revenues:    
Total revenues 129,495 121,098
Cost of revenues:    
Total cost of revenues (exclusive of acquired intangible assets amortization shown separately below) $ 57,421 $ 52,204
[1] Includes $3.1 million and $3.1 million in 2022 and 2021, respectively, for leases of Teradyne’s systems recognized outside Accounting Standards Codification (“ASC”) 606 “Revenue from Contracts with Customers.”
[2] Included in Corporate and Eliminations are: legal fees, contingent consideration fair value adjustments, interest income, interest expense, severance charges, net foreign exchange gains (losses), acquisition related charges and compensation, intercompany eliminations and for the three months ended April 4, 2021, loss on convertible debt conversions.
[3] Included in income (loss) before taxes are charges and credits related to restructuring and other, inventory charges and, for the three months ended April 4, 2021, loss on convertible debt conversions.