2011 Q4 Form 10-K Financial Statement

#000119312513087821 Filed on March 01, 2013

View on sec.gov

Income Statement

Concept 2011 Q4 2011 Q3 2011 Q2
Revenue $297.0M $344.4M $410.5M
YoY Change -39.56% -22.66% 28.57%
Cost Of Revenue $163.0M $174.0M $195.9M
YoY Change -25.76% -10.49% 31.06%
Gross Profit $134.0M $170.4M $214.6M
YoY Change -50.71% -32.09% 26.3%
Gross Profit Margin 45.11% 49.47% 52.27%
Selling, General & Admin $64.94M $54.78M $58.03M
YoY Change 7.17% -5.07% 6.08%
% of Gross Profit 48.48% 32.15% 27.04%
Research & Development $56.36M $45.90M $48.39M
YoY Change 15.03% -6.9% 1.03%
% of Gross Profit 42.07% 26.94% 22.55%
Depreciation & Amortization $22.80M $22.90M $23.50M
YoY Change -7.32% -6.15% -6.37%
% of Gross Profit 17.02% 13.44% 10.95%
Operating Expenses $144.3M $108.9M $114.8M
YoY Change 23.4% -4.73% 4.42%
Operating Profit -$10.29M $61.48M $99.84M
YoY Change -106.64% -54.99% 66.39%
Interest Expense $6.134M $6.068M $5.316M
YoY Change -233.35% -248.0% -204.24%
% of Operating Profit 9.87% 5.32%
Other Income/Expense, Net
YoY Change
Pretax Income -$15.55M $58.47M $95.92M
YoY Change -110.21% -55.73% 77.96%
Income Tax -$144.6M $1.759M $7.839M
% Of Pretax Income 3.01% 8.17%
Net Earnings $129.1M $56.71M $87.25M
YoY Change -12.38% -53.56% 74.16%
Net Earnings / Revenue 43.46% 16.47% 21.25%
Basic Earnings Per Share $0.70 $0.31 $0.47
Diluted Earnings Per Share $0.58 $0.26 $0.38
COMMON SHARES
Basic Shares Outstanding 185.1M shares 185.4M shares 184.7M
Diluted Shares Outstanding 221.9M shares 230.5M shares

Balance Sheet

Concept 2011 Q4 2011 Q3 2011 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.192B $909.3M $855.8M
YoY Change 70.78% 60.71% 85.84%
Cash & Equivalents $573.7M $455.4M $420.3M
Short-Term Investments $96.50M $453.9M $435.6M
Other Short-Term Assets $87.30M $84.70M $79.00M
YoY Change 7.91% 25.11% 25.2%
Inventory $160.1M $141.5M $129.7M
Prepaid Expenses
Receivables $129.3M $207.8M $186.3M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.100B $1.343B $1.251B
YoY Change -7.42% 39.17% 59.03%
LONG-TERM ASSETS
Property, Plant & Equipment $232.2M $233.4M $233.0M
YoY Change -0.04% -0.98% -3.04%
Goodwill $352.8M
YoY Change
Intangibles $393.0M
YoY Change
Long-Term Investments $40.70M $282.0M $244.5M
YoY Change -79.8% 195.29% 238.64%
Other Assets $17.55M $31.10M $30.80M
YoY Change -55.47% 103.27% 72.07%
Total Long-Term Assets $1.089B $654.9M $623.9M
YoY Change 80.41% 35.31% 31.29%
TOTAL ASSETS
Total Short-Term Assets $1.100B $1.343B $1.251B
Total Long-Term Assets $1.089B $654.9M $623.9M
Total Assets $2.189B $1.998B $1.875B
YoY Change 22.16% 37.88% 48.59%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $69.84M $107.0M $110.0M
YoY Change -47.61% 11.46% 54.49%
Accrued Expenses $128.0M $134.9M $118.6M
YoY Change -14.27% -5.8% 4.13%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $2.573M $2.500M $2.400M
YoY Change 7.21% 8.7% 14.29%
Total Short-Term Liabilities $373.7M $353.0M $333.5M
YoY Change -6.88% 19.95% 30.17%
LONG-TERM LIABILITIES
Long-Term Debt $160.0M $154.8M $151.7M
YoY Change 8.59% 6.39% 6.53%
Other Long-Term Liabilities $133.0M $146.6M $152.3M
YoY Change -19.59% 61.81% 17.7%
Total Long-Term Liabilities $160.0M $301.4M $304.0M
YoY Change -48.85% 27.66% 11.85%
TOTAL LIABILITIES
Total Short-Term Liabilities $373.7M $353.0M $333.5M
Total Long-Term Liabilities $160.0M $301.4M $304.0M
Total Liabilities $683.6M $664.4M $647.3M
YoY Change -5.62% 22.9% 20.74%
SHAREHOLDERS EQUITY
Retained Earnings $184.2M
YoY Change
Common Stock $22.95M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.505B $1.334B $1.227B
YoY Change
Total Liabilities & Shareholders Equity $2.189B $1.998B $1.875B
YoY Change 22.16% 37.88% 48.59%

Cashflow Statement

Concept 2011 Q4 2011 Q3 2011 Q2
OPERATING ACTIVITIES
Net Income $129.1M $56.71M $87.25M
YoY Change -12.38% -53.56% 74.16%
Depreciation, Depletion And Amortization $22.80M $22.90M $23.50M
YoY Change -7.32% -6.15% -6.37%
Cash From Operating Activities $93.00M $102.0M $19.60M
YoY Change -63.64% -5.47% -24.9%
INVESTING ACTIVITIES
Capital Expenditures -$22.10M -$22.40M -$22.10M
YoY Change 20.77% 23.76% 25.57%
Acquisitions
YoY Change
Other Investing Activities $597.7M -$55.20M $16.20M
YoY Change -389.02% -13.21% -118.37%
Cash From Investing Activities $575.5M -$77.60M -$5.900M
YoY Change -355.78% -5.02% -94.42%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -28.70M 10.60M 8.900M
YoY Change 3088.89% -70.39% 78.0%
NET CHANGE
Cash From Operating Activities 93.00M 102.0M 19.60M
Cash From Investing Activities 575.5M -77.60M -5.900M
Cash From Financing Activities -28.70M 10.60M 8.900M
Net Change In Cash 639.8M 35.00M 22.60M
YoY Change 2039.8% -43.55% -130.25%
FREE CASH FLOW
Cash From Operating Activities $93.00M $102.0M $19.60M
Capital Expenditures -$22.10M -$22.40M -$22.10M
Free Cash Flow $115.1M $124.4M $41.70M
YoY Change -58.01% -1.27% -4.58%

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CY2011Q4 ter Deferred Revenue And Customer Advances Acceptance
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CY2012Q4 us-gaap Asset Retirement Obligation Legally Restricted Assets Fair Value
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CY2012Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Compensated Absences
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CY2012Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
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CY2012Q4 us-gaap Deferred Tax Assets Valuation Allowance
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CY2012Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
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CY2012Q4 us-gaap Business Acquisition Contingent Consideration At Fair Value
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CY2012Q4 us-gaap Commitments And Contingencies
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CY2012Q4 us-gaap Debt Instrument Interest Rate Effective Percentage
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CY2012Q4 us-gaap Assets
Assets
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CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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CY2012Q4 us-gaap Assets Fair Value Disclosure
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CY2012Q4 us-gaap Land
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3.70
CY2012Q4 ter Deferred Revenue And Customer Advances Current
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CY2012Q4 ter Deferred Tax Assets Net Operating And Capital Loss Carryforwards
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CY2012Q4 ter Long Term Debt Maturities Repayments Of Principal In Year Six
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearSix
CY2012Q4 ter Long Term Debt Maturities Repayments Of Principal In Year Six And Thereafter
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearSixAndThereafter
CY2012Q4 ter Long Term Debt Maturities Repayments Of Principal Total
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193491000
CY2012Q4 ter Share Based Compensation Arrangement Maximum Number Of Shares Authorized
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6000 shares
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MaximumPercentageOfPayrollDeductionUnderEspp
0.10 pure
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6600000
CY2012Q4 ter Unrecognized Tax Benefits If Recognized Would Impact Valuation Allowance
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CY2012Q4 ter Total Assets From Continuing Operations
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2429345000
CY2012Q4 ter Net Operating Loss Carryforward Excess Tax Deduction Related To Stock Based Compensation
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0
CY2012Q4 ter Maintenance Training And Extended Warranty
MaintenanceTrainingAndExtendedWarranty
51198000
CY2012Q4 ter Total Deferred Revenue And Customer Advances
TotalDeferredRevenueAndCustomerAdvances
97584000
CY2012Q4 ter Share Based Compensation Arrangement By Share Based Payment Awards Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardsOptionsGrantsInPeriod
200000 shares
CY2012Q4 ter Debt Instrument Conversion Share Price
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CY2012Q4 ter Defined Benefit Plan Accumulated Other Comprehensive Income Net Gains Losses Tax
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
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3.05
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
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4.09
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
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2.77
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
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4.01
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
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3.42
us-gaap Stock Repurchased During Period Value
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us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
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<div> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>D.&#xA0;&#xA0;&#xA0;&#xA0;RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS</b></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">In December 2011, the FASB issued ASU No.&#xA0;2011-11, &#x201C;<i>Disclosures about Offsetting Assets and Liabilities.&#x201D;</i> This ASU is intended to enhance the understanding of the effects of netting arrangements on an entity&#x2019;s financial statements, including financial instruments and derivative instruments that are either offset or subject to a master netting arrangement. The scope of this ASU includes sale and repurchase agreements, reverse sale and repurchase agreements, and securities borrowing and lending arrangements. In January 2013, the FASB issued ASU No.&#xA0;2013-01 &#x201C;<i>Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities.</i>&#x201D; This standard provided additional guidance on the scope of ASU 2011-11. The provisions of this ASU are effective for interim and annual periods beginning on or after January&#xA0;1, 2013.</font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">In February 2013, the FASB issued ASU No.&#xA0;2013-02, &#x201C;<i>Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income.&#x201D;</i> Under this ASU, an entity is required to provide information about the amounts reclassified out of Accumulated Other Comprehensive Income (&#x201C;AOCI&#x201D;) by component. In addition, an entity is required to present, either on the face of the financial statements or in the notes, significant amounts reclassified out of AOCI by the respective line items of net income, but only if the amount reclassified is required to be reclassified in its entirety in the same reporting period. For amounts that are not required to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures that provide additional details about those amounts. The provisions of this ASU are effective for interim and annual periods beginning on or after January&#xA0;1, 2013.</font></p> </div>
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<div> <p style="margin-top:12px;margin-bottom:0px"><font style="font-family:Times New Roman" size="2"><b>A.&#xA0;&#xA0;&#xA0;&#xA0;THE COMPANY</b></font></p> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%"> <font style="font-family:Times New Roman" size="2">Teradyne, Inc. is a leading global supplier of automatic test equipment. Teradyne&#x2019;s automatic test equipment products and services include:</font></p> <p style="font-size:6px;margin-top:0px;margin-bottom:0px"> &#xA0;</p> <table style="BORDER-COLLAPSE:COLLAPSE" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td width="4%"><font size="1">&#xA0;</font></td> <td width="3%" valign="top" align="left"><font style="font-family:Times New Roman" size="2">&#x2022;</font></td> <td width="1%" valign="top"><font size="1">&#xA0;</font></td> <td align="left" valign="top"> <p align="left"><font style="font-family:Times New Roman" size="2">semiconductor test (&#x201C;Semiconductor Test&#x201D;) systems;</font></p> </td> </tr> </table> <p style="font-size:6px;margin-top:0px;margin-bottom:0px"> &#xA0;</p> <table style="BORDER-COLLAPSE:COLLAPSE" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td width="4%"><font size="1">&#xA0;</font></td> <td width="3%" valign="top" align="left"><font style="font-family:Times New Roman" size="2">&#x2022;</font></td> <td width="1%" valign="top"><font size="1">&#xA0;</font></td> <td align="left" valign="top"> <p align="left"><font style="font-family:Times New Roman" size="2">wireless test (&#x201C;Wireless Test&#x201D;) systems; and</font></p> </td> </tr> </table> <p style="font-size:6px;margin-top:0px;margin-bottom:0px"> &#xA0;</p> <table style="BORDER-COLLAPSE:COLLAPSE" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td width="4%"><font size="1">&#xA0;</font></td> <td width="3%" valign="top" align="left"><font style="font-family:Times New Roman" size="2">&#x2022;</font></td> <td width="1%" valign="top"><font size="1">&#xA0;</font></td> <td align="left" valign="top"> <p align="left"><font style="font-family:Times New Roman" size="2">military/aerospace (&#x201C;Mil/Aero&#x201D;) test instrumentation and systems, storage test (&#x201C;Storage Test&#x201D;) systems, and circuit-board test and inspection (&#x201C;Commercial Board Test&#x201D;) systems (collectively these products represent &#x201C;Systems Test Group&#x201D;).</font></p> </td> </tr> </table> </div>
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1.42
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0
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12200000
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1110000
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0.10 pure
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357060000
CY2011 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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1545000
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4578000
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CY2011 us-gaap Product Warranty Accrual Preexisting Increase Decrease
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CY2011 us-gaap Sales Revenue Goods Net
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CY2011 us-gaap Goodwill Purchase Accounting Adjustments
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CY2011 us-gaap Income Loss From Continuing Operations
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CY2011 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
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CY2011 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2011 us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
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CY2011 us-gaap Comprehensive Income Net Of Tax
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CY2011 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
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CY2011 us-gaap Current Income Tax Expense Benefit
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CY2011 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
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CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
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CY2011 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
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CY2011 us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
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2.07
CY2011 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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CY2011 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
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P6Y2M12D
CY2011 us-gaap Depreciation Depletion And Amortization
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104378000
CY2011 us-gaap Share Based Compensation
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CY2011 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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16.23
CY2011 us-gaap Business Acquisitions Pro Forma Revenue
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1527044000
CY2011 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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278568000
CY2011 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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CY2011 us-gaap Earnings Per Share Diluted
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1.63
CY2011 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Other
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0.057 pure
CY2011 us-gaap Restructuring Settlement And Impairment Provisions
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6743000
CY2011 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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6131000
CY2011 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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CY2011 us-gaap Deferred Federal Income Tax Expense Benefit
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CY2011 us-gaap Product Warranty Accrual Payments
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12538000
CY2011 us-gaap Research And Development Expense Excluding Acquired In Process Cost
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197798000
CY2011 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
965000 shares
CY2011 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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1165000
CY2011 us-gaap Payments For Repurchase Of Common Stock
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31175000
CY2011 us-gaap Discontinued Operation Gain Loss From Disposal Of Discontinued Operation Before Income Tax
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28949000
CY2011 us-gaap Other Noncash Expense
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CY2011 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Purchases
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68892000
CY2011 us-gaap Disposal Group Including Discontinued Operation Revenue
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9086000
CY2011 us-gaap Current Federal Tax Expense Benefit
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3668000
CY2011 us-gaap Stock Repurchased During Period Value
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31175000
CY2011 us-gaap Effective Income Tax Rate Continuing Operations
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CY2011 us-gaap Product Warranty Accrual Additions From Business Acquisition
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327000
CY2011 us-gaap Entity Wide Disclosure On Geographic Areas Revenue From External Customers Attributed To Foreign Countries
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1429061000
CY2011 us-gaap Net Cash Provided By Used In Operating Activities
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CY2011 us-gaap Net Cash Provided By Used In Investing Activities
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CY2011 us-gaap Investment Income Interest
InvestmentIncomeInterest
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CY2011 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2011 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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CY2011 us-gaap Income Loss From Discontinued Operations Net Of Tax
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25916000
CY2011 us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax
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24371000
CY2011 us-gaap Payments To Acquire Property Plant And Equipment
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CY2011 us-gaap Cash And Cash Equivalents Period Increase Decrease
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175999000
CY2011 us-gaap Increase Decrease In Pension And Postretirement Obligations
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CY2011 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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CY2011 us-gaap Inventory Write Down
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CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
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CY2011 us-gaap Advertising Expense
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CY2011 us-gaap Increase Decrease In Deferred Revenue And Customer Advances And Deposits
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CY2011 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2011 us-gaap Other Comprehensive Income Loss Amortization Pension And Other Postretirement Benefit Plans Net Prior Service Cost Recognized In Net Periodic Pension Cost Net Of Tax
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CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
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CY2011 us-gaap Business Acquisition Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax Per Share Basic
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1.93
CY2011 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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226820000 shares
CY2011 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
16224000 shares
CY2011 us-gaap Increase Decrease In Accounts Receivable
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CY2011 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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2266000
CY2011 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
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CY2011 us-gaap Income Tax Expense Benefit Continuing Operations
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CY2011 us-gaap Extended Product Warranty Accrual Warranties Issued
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CY2011 us-gaap Other Comprehensive Income Loss Net Of Tax
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2277000
CY2011 us-gaap Earnings Per Share Basic
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CY2011 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
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CY2011 us-gaap Product Warranty Accrual Warranties Issued
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13167000
CY2011 us-gaap Net Cash Provided By Used In Financing Activities
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CY2011 us-gaap Extended Product Warranty Accrual Additions From Business Acquisition
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3151000
CY2011 us-gaap Acquisition Costs
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CY2011 us-gaap Other Comprehensive Income Loss Reclassification Adjustment For Sale Of Securities Included In Net Income Net Of Tax
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CY2011 us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
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CY2011 us-gaap Cost Of Revenue
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CY2011 us-gaap Income Loss From Continuing Operations Per Basic Share
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CY2011 us-gaap Payments To Acquire Available For Sale Securities
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CY2011 us-gaap Product Warranty Accrual Period Increase Decrease
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8200000
CY2011 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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CY2011 us-gaap Additions To Noncurrent Assets
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CY2011 us-gaap Gain Loss On Foreign Currency Derivative Instruments Not Designated As Hedging Instruments
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CY2011 us-gaap Operating Expenses
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CY2011 us-gaap Cost Of Services
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CY2011 us-gaap Extended Product Warranty Accrual Payments
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CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
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CY2011 us-gaap Marketable Securities Realized Gain Loss
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2700000
CY2011 us-gaap Foreign Currency Transaction Gain Loss Unrealized
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CY2011 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2011 us-gaap Increase Decrease In Inventories
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CY2011 us-gaap Current State And Local Tax Expense Benefit
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CY2011 us-gaap Operating Leases Rent Expense Net
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CY2011 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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42137000 shares
CY2011 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.350 pure
CY2011 us-gaap Defined Benefit Plan Actuarial Gain Loss
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CY2011 us-gaap Adjustment For Amortization
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CY2011 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
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CY2011 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
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CY2011 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
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CY2011 us-gaap Cost Of Goods Sold
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CY2011 us-gaap Incremental Common Shares Attributable To Equity Unit Purchase Agreements
IncrementalCommonSharesAttributableToEquityUnitPurchaseAgreements
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CY2011 us-gaap Revenues
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CY2011 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2011 us-gaap Sales Revenue Services Net
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CY2011 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
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CY2011 us-gaap Depreciation
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51040000
CY2011 us-gaap Income Taxes Paid Net
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36043000
CY2011 us-gaap Gross Profit
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711823000
CY2011 us-gaap Extended Product Warranty Accrual Period Increase Decrease
ExtendedProductWarrantyAccrualPeriodIncreaseDecrease
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CY2011 us-gaap Proceeds From Sale Of Available For Sale Securities
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CY2011 us-gaap Interest Paid
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CY2011 us-gaap Income Tax Reconciliation Tax Holidays
IncomeTaxReconciliationTaxHolidays
200000
CY2011 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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CY2011 us-gaap Business Acquisitions Pro Forma Net Income Loss
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CY2011 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-146949000
CY2011 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
12853000
CY2011 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
1296000
CY2011 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
700000 shares
CY2011 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-10549000
CY2011 us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
369873000
CY2011 us-gaap Net Income Loss
NetIncomeLoss
369873000
CY2011 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
235319000
CY2011 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P7Y
CY2011 us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
-1300000
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
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CY2011 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-129536000
CY2011 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
CY2011 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
369873000
CY2011 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
1.52
CY2011 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
1293000
CY2011 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
40465000
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
435000 shares
CY2011 us-gaap Business Acquisition Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax Per Share Diluted
BusinessAcquisitionProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTaxPerShareDiluted
1.56
CY2011 us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
1.67
CY2011 us-gaap Interest Expense
InterestExpense
23694000
CY2011 us-gaap Debt Instrument Convertible Interest Expense
DebtInstrumentConvertibleInterestExpense
21403000
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
6.74
CY2011 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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-3000
CY2011 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-8727000
CY2011 ter Change Of Business Acquisition Contingent Consideration At Fair Value
ChangeOfBusinessAcquisitionContingentConsiderationAtFairValue
8800000
CY2011 ter Stock Issued During Period Value Share Based Compensation Net Of Shares Withheld For Taxes
StockIssuedDuringPeriodValueShareBasedCompensationNetOfSharesWithheldForTaxes
5088000
CY2011 ter Share Based Compensation Arrangement By Share Based Payment Award Options Cancelled In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsCancelledInPeriod
3867000 shares
CY2011 ter Restructuring And Other Charges
RestructuringAndOtherCharges
5800000
CY2011 ter Other Comprehensive Income Defined Benefit Plan Net Prior Service Costs Credit Amortization And Credit Arising During Period Tax Effect
OtherComprehensiveIncomeDefinedBenefitPlanNetPriorServiceCostsCreditAmortizationAndCreditArisingDuringPeriodTaxEffect
9000
CY2011 ter Acquired Tax Positions
AcquiredTaxPositions
1388000
CY2011 ter Book Value Of Internally Manufactured Test Systems Sold
BookValueOfInternallyManufacturedTestSystemsSold
7800000
CY2011 ter Contractual Interest Expense On Coupon
ContractualInterestExpenseOnCoupon
8550000
CY2011 ter Incremental Common Shares Attributable To Conversion Of Stock Option
IncrementalCommonSharesAttributableToConversionOfStockOption
566000 shares
CY2011 ter Stock Options Issued In Purchase Acquisition
StockOptionsIssuedInPurchaseAcquisition
4472000
CY2011 ter Deferred Income Tax Expense Benefit Net Of Adjustments
DeferredIncomeTaxExpenseBenefitNetOfAdjustments
-157958000
CY2011 ter Total Income Tax Provision Benefit From Continuing Operations And Discontinued Operations
TotalIncomeTaxProvisionBenefitFromContinuingOperationsAndDiscontinuedOperations
-125225000
CY2011 ter Share Based Compensation Arrangement By Share Based Payment Award Options Assumed From Acquisitions In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAssumedFromAcquisitionsInPeriod
2828000 shares
CY2011 ter Share Based Compensation Arrangement By Share Based Payment Award Options Cancelled In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsCancelledInPeriodWeightedAverageExercisePrice
26.38
CY2011 ter Share Based Compensation Arrangement By Share Based Payment Award Options Assumed From Acquisition In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAssumedFromAcquisitionInPeriodWeightedAverageExercisePrice
2.69
CY2011 ter Segment Reporting Major Customers Percent Revenue
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0.10 pure
CY2011 ter Incremental Common Shares Attributable To Conversion Of Restricted Stock Units
IncrementalCommonSharesAttributableToConversionOfRestrictedStockUnits
3773000 shares
CY2011 ter Total Stock Based Compensation Expenses After Income Taxes
TotalStockBasedCompensationExpensesAfterIncomeTaxes
23828000
CY2011 ter Other Comprehensive Income Defined Benefit Plan Net Prior Service Costs Credits And Amortization Arising During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlanNetPriorServiceCostsCreditsAndAmortizationArisingDuringPeriodNetOfTax
-14000
CY2011 ter Payment For Contingent Consideration
PaymentForContingentConsideration
59700000
CY2011 ter Number Of Customer Accounted For Ten Percent Or Greater Revenue
NumberOfCustomerAccountedForTenPercentOrGreaterRevenue
0 Customer
CY2012 dei Trading Symbol
TradingSymbol
TER
CY2012 dei Entity Registrant Name
EntityRegistrantName
TERADYNE, INC
CY2012 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2012 dei Amendment Flag
AmendmentFlag
false
CY2012 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2012 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2012 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2012 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
CY2012 dei Document Type
DocumentType
10-K
CY2012 dei Document Period End Date
DocumentPeriodEndDate
2012-12-31
CY2012 dei Entity Central Index Key
EntityCentralIndexKey
0000097210
CY2012 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes
CY2012 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
17136000
CY2012 us-gaap Operating Income Loss
OperatingIncomeLoss
287368000
CY2012 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-498000
CY2012 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
877000
CY2012 us-gaap Sales Revenue Goods Net
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1383569000
CY2012 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
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169000
CY2012 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P4Y10M24D
CY2012 us-gaap Income Tax Holiday Income Tax Benefits Per Share
IncomeTaxHolidayIncomeTaxBenefitsPerShare
0.05
CY2012 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
2532000
CY2012 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
217049000
CY2012 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
39920000
CY2012 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
218123000
CY2012 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
171054000
CY2012 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
40944000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
1844000 shares
CY2012 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
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18476000
CY2012 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
22367000 shares
CY2012 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
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P5Y7M6D
CY2012 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
142799000
CY2012 us-gaap Share Based Compensation
ShareBasedCompensation
39920000
CY2012 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
16.95
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
16.67
CY2012 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y
CY2012 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
230246000 shares
CY2012 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
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CY2012 us-gaap Gain Loss On Foreign Currency Derivative Instruments Not Designated As Hedging Instruments
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CY2012 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2012 us-gaap Extended Product Warranty Accrual Period Increase Decrease
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CY2012 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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CY2012 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
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48927000
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233000
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300000 shares
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P7Y
CY2012 ter Common Stock Fair Market Value Percentage
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CY2012 ter Restricted Stock Awards Vesting Period One Year
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P1Y
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