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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2024
Apr. 02, 2023
Revenues:    
Total revenues [1] $ 599,819 $ 617,529
Cost of revenues:    
Total cost of revenues (exclusive of acquired intangible assets amortization shown separately below) 260,537 261,109
Gross profit 339,282 356,420
Operating expenses:    
Selling and administrative 149,188 150,955
Engineering and development 103,199 105,762
Acquired intangible assets amortization 4,697 4,802
Restructuring and other 4,427 2,037
Total operating expenses 261,511 263,556
Income from operations 77,771 92,864
Non-operating (income) expense:    
Interest income (7,867) (5,258)
Interest expense 661 987
Other (income) expense, net 12,075 51
Income before income taxes [2],[3] 72,902 97,084
Income tax provision 8,705 13,553
Net income $ 64,197 $ 83,531
Net income per common share:    
Basic $ 0.42 $ 0.54
Diluted $ 0.4 $ 0.5
Weighted average common shares—basic 153,047 155,904
Weighted average common shares—diluted 162,348 166,308
Product [Member]    
Revenues:    
Total revenues $ 458,433 $ 473,418
Cost of revenues:    
Total cost of revenues (exclusive of acquired intangible assets amortization shown separately below) 200,763 198,665
Service [Member]    
Revenues:    
Total revenues 141,386 144,111
Cost of revenues:    
Total cost of revenues (exclusive of acquired intangible assets amortization shown separately below) $ 59,774 $ 62,444
[1] Includes $0.9 million and $1.3 million in the three months ended March 31, 2024 and in the three months ended April 2, 2023, respectively, for leases of Teradyne’s systems recognized outside Accounting Standards Codification (“ASC”) 606 “Revenue from Contracts with Customers.”
[2] Included in Corporate and Eliminations are: interest income, interest expense, net foreign exchange gains (losses), intercompany eliminations, severance charges, pension, acquisition and divestiture related fees, and an expense for the modification of outstanding equity awards.
[3] Included in income (loss) before taxes are charges related to restructuring and other, expense for the modification of outstanding equity awards, and inventory charges.