Retirement Plans

3 Months Ended

Apr. 01, 2012

Retirement Plans [Abstract]

Retirement Plans

N. Retirement Plans

Defined Benefit Pension Plans

Teradyne has defined benefit pension plans covering a portion of domestic employees and employees of certain non-U.S. subsidiaries. Benefits under these plans are based on employees' years of service and compensation. Teradyne's funding policy is to make contributions to these plans in accordance with local laws and to the extent that such contributions are tax deductible. The assets of these plans consist primarily of fixed income and equity securities. In addition, Teradyne has an unfunded supplemental executive defined benefit plan in the United States to provide retirement benefits in excess of levels allowed by the Employment Retirement Income Security Act ("ERISA") and the Internal Revenue Code ("IRC"), as well as unfunded foreign plans.

Components of net periodic pension cost for all plans were as follows:

	For the Three Months Ended
	April 1,  2012			April 3,  2011
	(in thousands)
Service cost	$	722		$	769
Interest cost		4,083			4,327
Expected return on plan assets		(4,087	)		(3,913	)
Amortization of unrecognized:
Prior service cost		58			155
Total net periodic pension cost	$	776		$	1,338

In the three months ended April 1, 2012, Teradyne contributed $0.7 million, primarily to its foreign pension plans.

Post-Retirement Benefit Plans

In addition to receiving pension benefits, U.S. Teradyne employees who meet early retirement eligibility requirements as of their termination dates may participate in Teradyne's Welfare Plan, which includes death, and medical and dental benefits up to age 65. Death benefits provide a fixed sum to retirees' survivors and are available to all retirees. Substantially all of Teradyne's current U.S. employees could become eligible for these benefits, and the existing benefit obligation relates primarily to those employees.

Components of net periodic post-retirement cost were as follows:

	For the Three Months Ended
	April 1, 2012			April 3, 2011
	(in thousands)
Service cost	$	19		$	16
Interest cost		110			136
Amortization of unrecognized:
Prior service benefit		(150	)		(149	)
Total net periodic post-retirement (benefit) cost	$	(21	)	$	3