2018 Q1 Form 10-K Financial Statement

#000119312518066579 Filed on March 01, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q4 2017 Q3
Revenue $503.4M $696.9M
YoY Change 22.63% 31.05%
Cost Of Revenue $206.5M $305.7M
YoY Change 12.76% 22.8%
Gross Profit $270.9M $390.6M
YoY Change 19.16% 38.1%
Gross Profit Margin 53.82% 56.05%
Selling, General & Admin $87.88M $90.11M
YoY Change 11.53% 10.67%
% of Gross Profit 32.44% 23.07%
Research & Development $72.07M $82.27M
YoY Change 0.94% 8.09%
% of Gross Profit 26.6% 21.06%
Depreciation & Amortization $26.60M $27.70M
YoY Change 5.14% -15.29%
% of Gross Profit 9.82% 7.09%
Operating Expenses $176.3M $182.8M
YoY Change 3.19% -64.48%
Operating Profit $94.63M $207.8M
YoY Change 67.48% -189.65%
Interest Expense $5.380M $5.509M
YoY Change 749.92% 697.25%
% of Operating Profit 5.69% 2.65%
Other Income/Expense, Net -$840.0K $1.291M
YoY Change -191.21% 14244.44%
Pretax Income $98.08M $206.9M
YoY Change 64.35% -189.63%
Income Tax $204.0M $31.90M
% Of Pretax Income 207.99% 15.42%
Net Earnings -$105.9M $175.0M
YoY Change -266.04% -178.27%
Net Earnings / Revenue -21.04% 25.11%
Basic Earnings Per Share -$0.54 $0.88
Diluted Earnings Per Share -$0.54 $0.87
COMMON SHARES
Basic Shares Outstanding 195.4M shares 197.5M shares 198.8M shares
Diluted Shares Outstanding 200.8M shares 201.5M shares

Balance Sheet

Concept 2018 Q1 2017 Q4 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.637B $1.408B
YoY Change 82.56% 71.0%
Cash & Equivalents $429.8M $429.8M $598.3M
Short-Term Investments $1.218B $809.3M
Other Short-Term Assets $5.021M $6.787M
YoY Change -37.54% -11.64%
Inventory $107.5M $153.6M
Prepaid Expenses $108.1M $106.0M
Receivables $272.8M $405.9M
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.270B $2.080B
YoY Change 39.81% 47.22%
LONG-TERM ASSETS
Property, Plant & Equipment $268.4M $258.0M
YoY Change 5.76% -2.47%
Goodwill $252.0M $242.2M
YoY Change 12.84% 2.11%
Intangibles $79.09M $90.60M
YoY Change -21.23% -25.78%
Long-Term Investments $211.9M $212.5M
YoY Change -40.78% -24.78%
Other Assets $12.28M $12.43M
YoY Change 0.9% -4.93%
Total Long-Term Assets $839.3M $950.2M
YoY Change -26.3% -4.5%
TOTAL ASSETS
Total Short-Term Assets $2.270B $2.080B
Total Long-Term Assets $839.3M $950.2M
Total Assets $3.110B $3.030B
YoY Change 12.56% 25.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $86.39M $103.5M
YoY Change -9.41% 0.35%
Accrued Expenses $176.1M $188.1M
YoY Change 20.7% 38.11%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $454.3M $439.2M
YoY Change 21.91% -3.54%
LONG-TERM LIABILITIES
Long-Term Debt $362.6M $359.2M
YoY Change
Other Long-Term Liabilities $174.9M $172.4M
YoY Change -11.49% -9.64%
Total Long-Term Liabilities $537.5M $531.6M
YoY Change 172.01% 178.62%
TOTAL LIABILITIES
Total Short-Term Liabilities $454.3M $439.2M
Total Long-Term Liabilities $537.5M $531.6M
Total Liabilities $1.156B $981.6M
YoY Change 23.78% 48.21%
SHAREHOLDERS EQUITY
Retained Earnings $272.0M $405.0M
YoY Change 18.12% 90.97%
Common Stock $1.663B $1.638B
YoY Change 2.74% 6.96%
Preferred Stock
YoY Change
Treasury Stock (at cost) $200.0M $94.30M
YoY Change -55.16% -73.56%
Treasury Stock Shares $5.800M 3.000M shares
Shareholders Equity $1.954B $1.954B $2.049B
YoY Change
Total Liabilities & Shareholders Equity $3.110B $3.030B
YoY Change 12.56% 25.85%

Cashflow Statement

Concept 2018 Q1 2017 Q4 2017 Q3
OPERATING ACTIVITIES
Net Income -$105.9M $175.0M
YoY Change -266.04% -178.27%
Depreciation, Depletion And Amortization $26.60M $27.70M
YoY Change 5.14% -15.29%
Cash From Operating Activities $309.8M $230.3M
YoY Change 53.82% 21.27%
INVESTING ACTIVITIES
Capital Expenditures -$27.20M -$23.90M
YoY Change 38.07% -9.13%
Acquisitions
YoY Change
Other Investing Activities -$401.0M $137.5M
YoY Change 72.47% -327.27%
Cash From Investing Activities -$428.4M $113.7M
YoY Change 69.93% -231.14%
FINANCING ACTIVITIES
Cash Dividend Paid $13.80M $13.90M
YoY Change 14.05% 13.93%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -62.20M -70.50M
YoY Change 78.22% 70.29%
NET CHANGE
Cash From Operating Activities 309.8M 230.3M
Cash From Investing Activities -428.4M 113.7M
Cash From Financing Activities -62.20M -70.50M
Net Change In Cash -180.8M 273.5M
YoY Change 111.21% 342.56%
FREE CASH FLOW
Cash From Operating Activities $309.8M $230.3M
Capital Expenditures -$27.20M -$23.90M
Free Cash Flow $337.0M $254.2M
YoY Change 52.42% 17.58%

Facts In Submission

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CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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CY2017Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
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2.95
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0.10 pure
CY2017Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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CY2017Q4 us-gaap Purchase Obligation
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CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due
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CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
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CY2017Q4 us-gaap Product Warranty Accrual
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CY2017Q4 us-gaap Liabilities
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CY2017Q4 us-gaap Liabilities And Stockholders Equity
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CY2017Q4 us-gaap Inventory Valuation Reserves
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CY2017Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
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CY2017Q4 us-gaap Employee Related Liabilities Current
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CY2017Q4 us-gaap Stockholders Equity
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CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
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CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due Current
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CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
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CY2017Q4 us-gaap Deferred Tax Liabilities Investments
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CY2017Q4 us-gaap Deferred Revenue Noncurrent
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CY2017Q4 us-gaap Common Stock Value
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CY2017Q4 us-gaap Additional Paid In Capital Common Stock
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CY2017Q4 us-gaap Unrecognized Tax Benefits
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CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
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CY2017Q4 us-gaap Extended Product Warranty Accrual
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CY2017Q4 us-gaap Deferred Tax Liabilities Noncurrent
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CY2017Q4 us-gaap Convertible Debt Noncurrent
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CY2017Q4 us-gaap Commitments And Contingencies
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CY2017Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
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6582000
CY2017Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
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2219000
CY2017Q4 us-gaap Accrued Income Taxes Current
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CY2017Q4 us-gaap Accrued Income Taxes Noncurrent
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CY2017Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
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CY2017Q4 us-gaap Purchase Obligation Due In Next Twelve Months
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CY2017Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
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CY2017Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
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CY2017Q4 us-gaap Business Combination Contingent Consideration Liability Current
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CY2017Q4 us-gaap Other Accrued Liabilities Current
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CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
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CY2017Q4 us-gaap Liabilities Current
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CY2017Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
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CY2017Q4 us-gaap Deferred Tax Assets Valuation Allowance
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CY2017Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
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16120000
CY2017Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
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CY2017Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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CY2017Q4 us-gaap Machinery And Equipment Gross
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CY2017Q4 us-gaap Noncurrent Assets
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CY2017Q4 us-gaap Property Plant And Equipment Gross
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CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
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14831000
CY2017Q4 us-gaap Assets
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CY2017Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value
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141000000
CY2017Q4 us-gaap Available For Sale Securities
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CY2017Q4 us-gaap Defined Benefit Plan Expected Amortization Of Prior Service Cost Credit Next Fiscal Year
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CY2017Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
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CY2017Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
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CY2017Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
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CY2017Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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CY2017Q4 us-gaap Goodwill
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CY2017Q4 us-gaap Inventory Finished Goods Net Of Reserves
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CY2017Q4 us-gaap Inventory Raw Materials Net Of Reserves
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CY2017Q4 us-gaap Inventory Work In Process Net Of Reserves
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13916000
CY2017Q4 us-gaap Assets Current
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CY2017Q4 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
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13489000
CY2017Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
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1209900000
CY2017Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
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3406000
CY2017Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
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71303000
CY2017Q4 us-gaap Deferred Tax Assets Other
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CY2017Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Compensated Absences
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4747000
CY2017Q4 us-gaap Deferred Tax Assets Deferred Income
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CY2017Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
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CY2017Q4 us-gaap Available For Sale Securities Debt Maturities After Ten Years Amortized Cost
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38644000
CY2017Q4 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date
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CY2017Q4 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date Amortized Cost Basis
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1451326000
CY2017Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Fair Value
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1350896000
CY2017Q4 us-gaap Buildings And Improvements Gross
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CY2017Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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429843000
CY2017Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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5440000
CY2017Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Foreign
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7142000
CY2017Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
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76083000
CY2017Q4 us-gaap Deferred Tax Assets Liabilities Net
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CY2017Q4 us-gaap Deferred Tax Assets Net Noncurrent
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CY2017Q4 us-gaap Defined Benefit Plan Assets For Plan Benefits Noncurrent
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CY2017Q4 us-gaap Derivative Assets Liabilities At Fair Value Net
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CY2017Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
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42000000
CY2017Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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29496000
CY2017Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
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3732000
CY2017Q4 us-gaap Intangible Assets Net Excluding Goodwill
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79088000
CY2017Q4 us-gaap Inventory Net
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107525000
CY2017Q4 us-gaap Land
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16561000
CY2017Q4 us-gaap Accounts Receivable Net Current
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272783000
CY2017Q4 us-gaap Available For Sale Securities Amortized Cost
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1470729000
CY2017Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
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48796000
CY2017Q4 us-gaap Available For Sale Securities Debt Maturities After Ten Years Fair Value
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40408000
CY2017Q4 us-gaap Available For Sale Securities Noncurrent
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125926000
CY2017Q4 us-gaap Construction In Progress Gross
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13522000
CY2017Q4 us-gaap Deferred Tax Assets Inventory
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17793000
CY2017Q4 us-gaap Leasehold Improvements Gross
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49540000
CY2017Q4 us-gaap Other Assets Noncurrent
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12275000
CY2017Q4 us-gaap Other Prepaid Expense Current
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12386000
CY2017Q4 us-gaap Prepaid Expense And Other Assets Current
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112151000
CY2017Q4 us-gaap Prepaid Taxes
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5039000
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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14831000
CY2017Q4 us-gaap Treasury Stock Value
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200000000
CY2017Q4 ter Prepaid Maintenance And Other Services
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8189000
CY2017Q4 ter Contract Manufacturer And Supplier Prepayments
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82503000
CY2017Q4 ter Deferred Revenue And Customer Advances Undelivered Elements And Other
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32047000
CY2017Q4 ter Deferred Revenue And Customer Advances
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113741000
CY2017Q4 ter Unrecognized Tax Benefits If Recognized Would Impact Deferred Taxes
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11500000
CY2017Q4 ter Deferred Revenue And Customer Advances Maintenance And Training
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57256000
CY2017Q4 ter Deferred Revenue And Customer Advances Current
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83614000
CY2017Q4 ter Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Tax
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CY2017Q4 ter Accumulated Other Comprehensive Income Loss Available For Sale Securities Adjustment Tax
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1815000
CY2017Q4 ter Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
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0
CY2015Q2 us-gaap Debt Instrument Term
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CY2016Q3 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
500000 shares
CY2015Q3 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
500000 shares
CY2016Q1 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
500000 shares
CY2017Q1 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
400000 shares
CY2017Q3 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
300000 shares
CY2015 us-gaap Earnings Per Share Diluted
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0.97
CY2015 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.350 pure
CY2015 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
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0.006 pure
CY2015 us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies
EffectiveIncomeTaxRateReconciliationTaxContingencies
0.022 pure
CY2015 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
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0.030 pure
CY2015 us-gaap Income Tax Holiday Income Tax Benefits Per Share
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0.05
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423076000
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
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P4Y2M12D
CY2015 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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213321000 shares
CY2015 us-gaap Weighted Average Number Of Shares Outstanding Basic
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211544000 shares
CY2015 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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0.004 pure
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
284000 shares
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P3Y10M25D
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
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0 shares
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1777000 shares
CY2015 us-gaap Common Stock Dividends Per Share Declared
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0.010 pure
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CY2015 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
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17.66
CY2015 us-gaap Stock Issued During Period Shares Stock Options Exercised
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518000 shares
CY2015 us-gaap Stock Repurchased During Period Shares
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15600000 shares
CY2015 us-gaap Effective Income Tax Rate Continuing Operations
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0.184 pure
CY2015 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Foreign
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0.027 pure
CY2015 us-gaap Incremental Common Shares Attributable To Equity Unit Purchase Agreements
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41000 shares
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16.93
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
132000 shares
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
1681000 shares
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P4Y2M12D
CY2015 us-gaap Revenues
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1639578000
CY2015 us-gaap Payments To Acquire Property Plant And Equipment
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CY2015 us-gaap Payments For Repurchase Of Common Stock
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299949000
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282741000
CY2015 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
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10235000
CY2015 us-gaap Gain Loss On Sale Of Equity Investments
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CY2015 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
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4715000
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1340566000
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299012000
CY2015 us-gaap Product Warranty Accrual Additions From Business Acquisition
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409000
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390000
CY2015 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Benefit Plan Improvement Tax Effect
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0
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57267000
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870000
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193644000
CY2015 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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30285000
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<div> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 18px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>C.&#xA0;&#xA0;&#xA0;&#xA0;RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS</b></font></p> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px; TEXT-INDENT: 4%"> <font style="FONT-FAMILY: Times New Roman" size="2">On February 15, 2018, the FASB issued ASU 2018-02, <i>&#x201C;Income Statement&#x2014;Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income.&#x201D;</i> This ASU allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act enacted in December 2017. The guidance is effective for fiscal years beginning after December 15, 2018. Early adoption is permitted. Teradyne does not expect this ASU to have a material impact on its financial position, results of operations and statements of cash flows.</font></p> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%"> <font style="FONT-FAMILY: Times New Roman" size="2">On March&#xA0;10, 2017, the FASB issued ASU <font style="WHITE-SPACE: nowrap">2017-07,</font> <i>&#x201C;Compensation&#x2014;Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost</i>.&#x201D;&#xA0;This ASU provides guidance on presentation of net periodic pension cost and net periodic postretirement benefit cost. The new standard requires the service cost component to be presented in the same line item as other employee compensation costs arising from services rendered during the period. The other components of net benefit cost such as interest cost, amortization of prior service cost, and actuarial gains or losses, are required to be presented separately outside of income or loss from operations. The presentation of service cost should be applied retrospectively. The guidance is effective for fiscal years beginning after December&#xA0;15, 2017. Early adoption is permitted. This guidance will impact the presentation of Teradyne&#x2019;s consolidated financial statements. Upon adoption of the new standard, Teradyne will present interest cost, amortization of prior service cost, and actuarial gains or losses within other (income) expense, net.</font></p> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%"> <font style="FONT-FAMILY: Times New Roman" size="2">On January&#xA0;26, 2017, the FASB issued ASU <font style="WHITE-SPACE: nowrap">2017-04,</font> <i>&#x201C;Intangibles&#x2014;Goodwill and Other (Topic 350): Simplifying the Accounting for Goodwill Impairment.&#x201D;</i> The new guidance removes Step 2 of the goodwill impairment test, which requires a hypothetical purchase price allocation. Goodwill impairment will now be the amount by which a reporting unit&#x2019;s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. All other goodwill impairment guidance will remain largely unchanged. Entities will continue to have the option to perform a qualitative assessment to determine if a quantitative impairment test is necessary. The same <font style="WHITE-SPACE: nowrap">one-step</font> impairment test will be applied to goodwill at all reporting units, even those with zero or negative carrying amounts. Entities will be required to disclose the amount of goodwill at reporting units with zero or negative carrying amounts. The revised guidance will be applied prospectively, and is effective in 2020. Early adoption is permitted for any impairment tests performed after January&#xA0;1, 2017. Teradyne is currently evaluating the impact of this ASU on its financial position, results of operations and statements of cash flows.</font></p> <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 12px"> &#xA0;</p> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px; TEXT-INDENT: 4%"> <font style="FONT-FAMILY: Times New Roman" size="2">In October 2016, the FASB issued ASU <font style="WHITE-SPACE: nowrap">2016-16,</font> <i>&#x201C;Accounting for Income Taxes: Intra-Entity Asset Transfers of Assets Other than Inventory</i>.<i>&#x201D;</i>&#xA0;Under current Generally Accepted Accounting Principles (&#x201C;GAAP&#x201D;), the tax effects of intra-entity asset transfers are deferred until the transferred asset is sold to a third party or otherwise recovered through use. The new guidance requires recognition of the tax expense from the sale of the asset in the seller&#x2019;s tax jurisdiction when the transfer occurs, even though the <font style="WHITE-SPACE: nowrap">pre-tax</font> effects of that transaction are eliminated in consolidation. Any deferred tax asset that arises in the buyer&#x2019;s jurisdiction would also be recognized at the time of the transfer. The new guidance does not apply to intra-entity transfers of inventory. The income tax consequences from the sale of inventory from one member of a consolidated entity to another will continue to be deferred until the inventory is sold to a third party. The new guidance will be effective in fiscal years beginning after December&#xA0;15, 2017. Early adoption is permitted. The modified retrospective approach will be required for transition to the new guidance, with a cumulative-effect adjustment recorded in retained earnings as of the beginning of the period of adoption. Teradyne does not expect this ASU to have a material impact on its financial position, results of operations and statements of cash flows.</font></p> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%"> <font style="FONT-FAMILY: Times New Roman" size="2">In February 2016, the FASB issued ASU <font style="WHITE-SPACE: nowrap">2016-02,</font> <i>&#x201C;Leases (Topic 842).&#x201D;</i> The guidance in this ASU supersedes the lease recognition requirements in ASC Topic 840, <i>&#x201C;Leases.&#x201D;</i> The new standard establishes a <font style="WHITE-SPACE: nowrap"><font style="WHITE-SPACE: nowrap">right-of-use</font></font> (&#x201C;ROU&#x201D;) model that requires a lessee to record an ROU asset and a lease liability on the balance sheet for all leases with terms longer than twelve months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the statements of operations. The new standard is effective for annual periods beginning after December&#xA0;15, 2018 with early adoption permitted. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. Teradyne is currently evaluating the impact of this ASU on its financial position and results of operations.</font></p> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%"> <font style="FONT-FAMILY: Times New Roman" size="2">In January 2016, the FASB issued ASU <font style="WHITE-SPACE: nowrap">2016-01,</font> <i>&#x201C;Financial Instruments&#x2014;Overall (Subtopic <font style="WHITE-SPACE: nowrap">825-10):</font> Recognition and Measurement of Financial Assets and Financial Liabilities</i>.<i>&#x201D;</i> This ASU provides guidance for the recognition, measurement, presentation, and disclosure of financial instruments. The new pronouncement revises accounting related to equity investments and the presentation of certain fair value changes for financial liabilities measured at fair value. Among other things, it amends the presentation and disclosure requirements of equity securities that do not result in consolidation and are not accounted for under the equity method. Changes in the fair value of these equity securities will be recognized directly in net income. This pronouncement is effective for fiscal years beginning after December&#xA0;15, 2017. Teradyne is currently evaluating the impact of this ASU on its financial position and results of operations.</font></p> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%"> <font style="FONT-FAMILY: Times New Roman" size="2">In May 2014, the FASB issued ASU <font style="WHITE-SPACE: nowrap">2014-09,</font> <i>&#x201C;Revenue from Contracts with Customers (Topic 606),&#x201D;</i> which will replace numerous requirements in U.S. GAAP, including industry-specific requirements, and provide companies with a single revenue recognition model for recognizing revenue from contracts with customers. The core principle of the new standard is that a company should recognize revenue to show the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled to in exchange for those goods or services. In August 2015, FASB issued ASU <font style="WHITE-SPACE: nowrap">2015-14,</font> which deferred the effective date of the new revenue standard by one year. For Teradyne, the standard will be effective in the first quarter of 2018. The two permitted transition methods under the new standard are the full retrospective method, in which case the standard would be applied to each prior reporting period presented, or the modified retrospective method, in which case the cumulative effect of applying the standard would be recognized in retained earnings at the date of initial application. Teradyne has selected the modified retrospective transition method. Teradyne has completed its preliminary assessment of the financial statement impact of the new standard and expects that the cumulative effect adjustment recognized to retained earnings on January&#xA0;1, 2018 will be approximately $12&#xA0;million, primarily as a result of recognizing revenues for software licenses at the time of delivery since the Vendor Specific Objective Evidence (&#x201C;VSOE&#x201D;) requirement for undelivered elements such as post-contract support is eliminated. Companies are allowed to use established or best estimate selling price for the undelivered element to allocate and defer the revenue. As a result, Teradyne will recognize as revenue upon delivery of the software and defer a portion of the sales price for the estimated selling price of post-contract support, compared to the current practice of recognizing the entire sales price ratably over the term of the post-contract support period due to the lack of VSOE. The $12&#xA0;million adjustment to retained earnings reflects acceleration of approximately $16&#xA0;million in revenues net of less than $1&#xA0;million in cost of revenues and approximately $3&#xA0;million of income tax expense. This preliminary assessment is based on a review of the types and number of revenue arrangements in place, including the review of individual customer contracts. Based on Teradyne&#x2019;s preliminary assessment, Teradyne does not expect any major changes to be made to existing accounting systems or internal controls.</font></p> </div>
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<div> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>A.&#xA0;&#xA0;&#xA0;&#xA0;THE COMPANY</b></font></p> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px; TEXT-INDENT: 4%"> <font style="FONT-FAMILY: Times New Roman" size="2">Teradyne, Inc. (&#x201C;Teradyne&#x201D;) is a leading global supplier of automation equipment for test and industrial applications. Teradyne designs, develops, manufactures and sells automatic test systems used to test semiconductors, wireless products, data storage and complex electronics systems in the consumer electronics, wireless, automotive, industrial, computing, communications, and aerospace and defense industries. Teradyne&#x2019;s industrial automation products include collaborative robots used by global manufacturing and light industrial customers to improve quality, increase manufacturing efficiency and decrease manufacturing costs. Teradyne&#x2019;s automatic test equipment and industrial automation products and services include:</font></p> <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 6px; MARGIN-TOP: 0px"> &#xA0;</p> <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr style="PAGE-BREAK-INSIDE: avoid"> <td width="4%"><font size="1">&#xA0;</font></td> <td valign="top" width="3%" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">&#x2022;</font></td> <td valign="top" width="1%"><font size="1">&#xA0;</font></td> <td valign="top" align="left"> <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="MARGIN-BOTTOM: 0px; FONT-SIZE: 6px; MARGIN-TOP: 0px"> &#xA0;</p> <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr style="PAGE-BREAK-INSIDE: avoid"> <td width="4%"><font size="1">&#xA0;</font></td> <td valign="top" width="3%" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">&#x2022;</font></td> <td valign="top" width="1%"><font size="1">&#xA0;</font></td> <td valign="top" align="left"> <p align="left"><font style="FONT-FAMILY: Times New Roman" size="2">defense/aerospace (&#x201C;Defense/Aerospace&#x201D;) test instrumentation and systems, storage test (&#x201C;Storage Test&#x201D;) systems, and circuit-board test and inspection (&#x201C;Production Board Test&#x201D;) systems (collectively these products represent &#x201C;System Test&#x201D;);</font></p> </td> </tr> </table> <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 6px; MARGIN-TOP: 0px"> &#xA0;</p> <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr style="PAGE-BREAK-INSIDE: avoid"> <td width="4%"><font size="1">&#xA0;</font></td> <td valign="top" width="3%" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">&#x2022;</font></td> <td valign="top" width="1%"><font size="1">&#xA0;</font></td> <td valign="top" align="left"> <p align="left"><font style="FONT-FAMILY: Times New Roman" size="2">industrial automation (&#x201C;Industrial Automation&#x201D;) products; and</font></p> </td> </tr> </table> <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 6px; MARGIN-TOP: 0px"> &#xA0;</p> <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr style="PAGE-BREAK-INSIDE: avoid"> <td width="4%"><font size="1">&#xA0;</font></td> <td valign="top" width="3%" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">&#x2022;</font></td> <td valign="top" width="1%"><font size="1">&#xA0;</font></td> <td valign="top" align="left"> <p align="left"><font style="FONT-FAMILY: Times New Roman" size="2">wireless test (&#x201C;Wireless Test&#x201D;) systems.</font></p> </td> </tr> </table> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%"> <font style="FONT-FAMILY: Times New Roman" size="2">On June&#xA0;11, 2015, Teradyne acquired Universal Robots A/S (&#x201C;Universal Robots&#x201D;) for approximately $284&#xA0;million of cash plus up to an additional $65&#xA0;million of cash if certain performance targets are met extending through 2018. Universal Robots is the leading supplier of collaborative robots which are <font style="WHITE-SPACE: nowrap">low-cost,</font> <font style="WHITE-SPACE: nowrap"><font style="WHITE-SPACE: nowrap">easy-to-deploy</font></font> and <font style="WHITE-SPACE: nowrap"><font style="WHITE-SPACE: nowrap">simple-to-program</font></font> robots that work side by side with production workers. Universal Robots is a separate operating and reportable segment, Industrial Automation.</font></p> </div>
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P4Y1M6D
CY2017 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
13.60
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P7Y
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Maximum Number Of Shares Per Employee
ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumNumberOfSharesPerEmployee
6000 shares
CY2017 dei Trading Symbol
TradingSymbol
TER
CY2017 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
201641000 shares
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
198069000 shares
CY2017 dei Amendment Flag
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false
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
109000 shares
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0.85 pure
CY2017 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
3.04
CY2017 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
28.56
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P2Y9M18D
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
0 shares
CY2017 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3572000 shares
CY2017 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.28
CY2017 dei Current Fiscal Year End Date
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--12-31
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0.25 pure
CY2017 us-gaap Earnings Per Share Basic
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1.30
CY2017 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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0.064 pure
CY2017 us-gaap Effective Income Tax Rate Reconciliation Deductions Qualified Production Activities
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0.003 pure
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EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.163 pure
CY2017 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.003 pure
CY2017 dei Document Period End Date
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2017-12-31
CY2017 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2017 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2017 us-gaap Income Tax Holiday Termination Date
IncomeTaxHolidayTerminationDate
December 31, 2020
CY2017 us-gaap Number Of Operating Segments
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4 Segment
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
20.35
CY2017 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
28.91
CY2017 us-gaap Stock Issued During Period Shares Stock Options Exercised
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501000 shares
CY2017 us-gaap Treasury Stock Acquired Average Cost Per Share
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34.30
CY2017 us-gaap Effective Income Tax Rate Continuing Operations
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0.509 pure
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0.022 pure
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P2Y3M19D
CY2017 dei Entity Registrant Name
EntityRegistrantName
TERADYNE, INC
CY2017 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2017 us-gaap Extended Product Warranty Accrual Period Increase Decrease
ExtendedProductWarrantyAccrualPeriodIncreaseDecrease
24400000
CY2017 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
112000 shares
CY2017 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
1298000 shares
CY2017 us-gaap Incremental Common Shares Attributable To Equity Unit Purchase Agreements
IncrementalCommonSharesAttributableToEquityUnitPurchaseAgreements
27000 shares
CY2017 us-gaap Product Warranty Accrual Period Increase Decrease
ProductWarrantyAccrualPeriodIncreaseDecrease
8200000
CY2017 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
17.90
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
111000 shares
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
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CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P4Y1M6D
CY2017 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
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15600000
CY2017 us-gaap Revenues
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2136606000
CY2017 us-gaap Payments To Acquire Property Plant And Equipment
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105375000
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200304000
CY2017 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
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12881000
CY2017 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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39703000
CY2017 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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10462000
CY2017 us-gaap Sales Revenue Goods Net
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1784695000
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351911000
CY2017 us-gaap Product Warranty Accrual Preexisting Increase Decrease
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-379000
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CY2017 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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1863000
CY2017 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
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297000
CY2017 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Benefit Plan Improvement Tax Effect
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CY2017 us-gaap Operating Income Loss
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1422000
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199000
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451000
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CY2017 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
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-272000
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447713000
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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524412000
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76699000
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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524412000
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1100000
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300000
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7820000
CY2017 us-gaap Deferred Federal Income Tax Expense Benefit
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CY2017 us-gaap Deferred Income Tax Expense Benefit
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108075000
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55478000
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4984000
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CY2017 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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272000
CY2017 us-gaap Current Federal Tax Expense Benefit
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162679000
CY2017 us-gaap Current Foreign Tax Expense Benefit
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64313000
CY2017 us-gaap Current Income Tax Expense Benefit
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229615000
CY2017 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents Continuing Operations
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3454000
CY2017 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
24493000
CY2017 us-gaap Proceeds From Sale Of Available For Sale Securities
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CY2017 us-gaap Share Based Compensation
ShareBasedCompensation
34097000
CY2017 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
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204000
CY2017 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
325000
CY2017 us-gaap Adjustment For Amortization
AdjustmentForAmortization
41953000
CY2017 us-gaap Advertising Expense
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9100000
CY2017 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
23635000
CY2017 us-gaap Amortization Of Debt Discount Premium
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13318000
CY2017 us-gaap Income Tax Examination Penalties And Interest Expense
IncomeTaxExaminationPenaltiesAndInterestExpense
100000
CY2017 us-gaap Increase Decrease In Pension And Postretirement Obligations
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CY2017 us-gaap Proceeds From Insurance Settlement Investing Activities
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5064000
CY2017 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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713000
CY2017 us-gaap Research And Development Expense Excluding Acquired In Process Cost
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305665000
CY2017 us-gaap Selling General And Administrative Expense
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348287000
CY2017 us-gaap Available For Sale Securities Continuous Unrealized Loss Position12 Months Or Longer Aggregate Losses
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1200000
CY2017 us-gaap Defined Benefit Plan Effect Of One Percentage Point Increase On Service And Interest Cost Components
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3000
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173802000
CY2017 us-gaap Interest Expense Debt
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19052000
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18900000
CY2017 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditTax
-154000
CY2017 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
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441000
CY2017 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
1903000
CY2017 us-gaap Severance Costs1
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1400000
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
8035000
CY2017 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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10573000
CY2017 us-gaap Unusual Or Infrequent Item Net Of Insurance Proceeds
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-4309000
CY2017 us-gaap Amortization Of Intangible Assets
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30530000
CY2017 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than12 Months Aggregate Losses
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2200000
CY2017 us-gaap Cash And Cash Equivalents Period Increase Decrease
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121959000
CY2017 us-gaap Cost Of Goods Sold
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758548000
CY2017 us-gaap Cost Of Revenue
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912734000
CY2017 us-gaap Cost Of Services
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154186000
CY2017 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
2623000
CY2017 us-gaap Deferred Foreign Income Tax Expense Benefit
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-6476000
CY2017 us-gaap Defined Benefit Plan Effect Of One Percentage Point Decrease On Accumulated Postretirement Benefit Obligation1
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60000
CY2017 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements
1050000
CY2017 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2017 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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43574000
CY2017 us-gaap Operating Expenses
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693844000
CY2017 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
0
CY2017 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
701681000
CY2017 us-gaap Product Warranty Accrual Payments
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12847000
CY2017 us-gaap Restructuring Settlement And Impairment Provisions
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9362000
CY2017 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
200304000
CY2017 ter Contractual Interest Expense On Coupon
ContractualInterestExpenseOnCoupon
5734000
CY2017 ter Number Of Customer Accounted For Ten Percent Or Greater Revenue
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1 Customer
CY2017 ter Stock Issued During Period Shares Sale Of Stock And Exercise Of Stock Options
StockIssuedDuringPeriodSharesSaleOfStockAndExerciseOfStockOptions
100000 shares
CY2017 ter Savings Plan Maximum Percentage Of Employees Contribution Allowable
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0.20 pure
CY2017 ter Warranty Period
WarrantyPeriod
P1Y
CY2017 ter Depreciation Period Over Life To Cost Of Revenues And Selling And Administrative Expenses
DepreciationPeriodOverLifeToCostOfRevenuesAndSellingAndAdministrativeExpenses
P6Y
CY2017 ter Maximum Shares Can Be Purchased Under Plan At Fair Market Value
MaximumSharesCanBePurchasedUnderPlanAtFairMarketValue
25000
CY2017 ter Lease Termination Month And Year
LeaseTerminationMonthAndYear
2017-09
CY2017 ter Share Based Compensation Arrangement By Share Based Payment Award Options Cancelled In Period Weighted Average Exercise Price
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0
CY2017 ter Maximum Employment Period Considered For Vesting Of Employers Contribution
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P4Y
CY2017 ter Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Additional Shares Reserved In Period
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0 shares
CY2017 ter Stock Issued During Period Value Share Based Compensation Net Of Shares Withheld For Taxes
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11024000
CY2017 ter Effective Income Tax Rate Reconciliation Tax Cuts And Jobs Act Of2017 Transition Tax
EffectiveIncomeTaxRateReconciliationTaxCutsAndJobsActOf2017TransitionTax
0.287 pure
CY2017 ter Tax Cuts And Jobs Act Of2017 Incomplete Accounting Deemed Repatriation Foreign Earnings Provisional Income Tax Expense Benefit
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161000000
CY2017 ter Tax Cuts And Jobs Act Of2017 Incomplete Accounting Remeasurement Of Deferred Tax Assets Liabilities Provisional Income Tax Expense
TaxCutsAndJobsActOf2017IncompleteAccountingRemeasurementOfDeferredTaxAssetsLiabilitiesProvisionalIncomeTaxExpense
33600000
CY2017 ter Tax Cuts And Jobs Act Of2017 Incomplete Accounting Impact Of Correlative Adjustments Provisional Income Tax Expense Benefit
TaxCutsAndJobsActOf2017IncompleteAccountingImpactOfCorrelativeAdjustmentsProvisionalIncomeTaxExpenseBenefit
10300000
CY2017 ter Tax Cuts And Jobs Act Of2017 Incomplete Accounting Provisional Increase Decrease Valuation Allowance
TaxCutsAndJobsActOf2017IncompleteAccountingProvisionalIncreaseDecreaseValuationAllowance
11300000
CY2016 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.21
CY2017 ter Book Value Of Internally Manufactured Test Systems Sold
BookValueOfInternallyManufacturedTestSystemsSold
3600000
CY2017 ter Deferred Income Tax Expense Benefit Net Of Adjustments
DeferredIncomeTaxExpenseBenefitNetOfAdjustments
37105000
CY2016 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.350 pure
CY2016 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Impairment Losses
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseImpairmentLosses
-1.621 pure
CY2016 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
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-0.027 pure
CY2016 us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies
EffectiveIncomeTaxRateReconciliationTaxContingencies
-0.026 pure
CY2016 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
-0.158 pure
CY2016 us-gaap Income Tax Holiday Income Tax Benefits Per Share
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0.08
CY2016 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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455197000
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
2000 shares
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P3Y10M25D
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
202578000 shares
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
202578000 shares
CY2016 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.023 pure
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
233000 shares
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P3Y10M25D
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