Assets Held for Sale

3 Months Ended

Mar. 31, 2024

Discontinued Operations and Disposal Groups [Abstract]

Assets Held for Sale

E. ASSETS HELD FOR SALE

On November 7, 2023, Teradyne entered into a definitive agreement to sell Teradyne’s Device Interface Solutions ("DIS") business, a component of the Semiconductor Test segment, to Technoprobe S.p.A. ("Technoprobe") for $85.0 million in cash. As a result, the related assets and liabilities met the criteria and were classified as held-for-sale in Teradyne’s consolidated balance sheet as of December 31, 2023. The transaction, which does not qualify as a strategic shift required for discontinued operations treatment, is expected to close in the second quarter of 2024, subject to regulatory approval.

Assets held-for-sale is comprised of the following as of March 31, 2024 and December 31, 2023:

	March 31, 2024		December 31, 2023
	(in thousands)
Current assets:
Inventories, net	$	19,276	$	17,952
Prepayments		3,150		5,298
Total current assets held for sale		22,426		23,250
Property, plant and equipment, net		8,994		8,986
Operating lease right-of-use assets, net		2,464		2,545
Total assets held for sale	$	33,884	$	34,781
Current liabilities:
Accounts payable	$	3,954	$	6,356
Other accrued liabilities		323		552
Operating lease liabilities		410		471
Total current liabilities held for sale		4,687		7,379
Long-term operating lease liabilities		1,938		2,000
Total liabilities held for sale	$	6,625	$	9,379
Net assets held for sale	$	27,259	$	25,402