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Net Income per Common Share (Tables)
 9 Months Ended
Sep. 30, 2012
Schedule Of Computation Of Basic And Diluted Net Income Per Common Share

The following table sets forth the computation of basic and diluted net income per common share:

 

     For the Three Months
Ended		      For the Nine Months
Ended		  
     September 30,
2012		      October 2,
2011		      September 30,
2012		      October 2,
2011		  
     (in thousands, except per share amounts)  

Income from continuing operations

    $ 88,641       $ 56,706       $ 233,592       $ 214,728   

Income from discontinued operations

      —           —           —           1,703   

Gain on disposal of discontinued operations

      —           —           —           24,371   
  

 

 

     

 

 

     

 

 

     

 

 

  

Net income for basic net income per share

    $ 88,641       $ 56,706       $ 233,592       $ 240,802   
  

 

 

     

 

 

     

 

 

     

 

 

  

Weighted average common shares-basic

      187,364         185,102         186,592         185,063   

Effect of dilutive potential common shares:

            

Incremental shares from assumed conversion of convertible Note(1)

      21,890         19,540         22,397         21,870   

Convertible note hedge warrant shares(2)

      16,765         13,475         17,474         16,737   

Restricted stock units

      1,423         3,377         1,413         3,942   

Stock options

      1,735         346         2,075         454   

Employee stock purchase rights

      33         52         52         75   
  

 

 

     

 

 

     

 

 

     

 

 

  

Dilutive potential common shares

      41,846         36,790         43,411         43,078   
  

 

 

     

 

 

     

 

 

     

 

 

  

Weighted average common shares-diluted

      229,210         221,892         230,003         228,141   
  

 

 

     

 

 

     

 

 

     

 

 

  

Net income per common share-basic

            

Continuing operations

    $ 0.47       $ 0.31       $ 1.25       $ 1.16   

Discontinued operations

      —           —           —           0.14   
  

 

 

     

 

 

     

 

 

     

 

 

  
   $ 0.47       $ 0.31       $ 1.25       $ 1.30   
  

 

 

     

 

 

     

 

 

     

 

 

  

Net income per common share-diluted

            

Continuing operations

    $ 0.39       $ 0.26       $ 1.02       $ 0.94   

Discontinued operations

      —           —           —           0.12   
  

 

 

     

 

 

     

 

 

     

 

 

  
   $ 0.39       $ 0.26       $ 1.02       $ 1.06   
  

 

 

     

 

 

     

 

 

     

 

 

  

 

(1) Incremental shares from assumed conversion of the convertible notes for the three and nine months ended September 30, 2012 and October 2, 2011 are calculated using the difference between the average Teradyne stock price for the period and the conversion price of $5.48, multiplied by the 34.7 million shares that would be issued upon conversion. The result of this calculation, representing the total intrinsic value of the convertible debt, is divided by the average Teradyne stock price for the period.
(2) Convertible note hedge warrant shares for the three and nine months ended September 30, 2012 and October 2, 2011 are calculated using the difference between the average Teradyne stock price for the period and the warrant price of $7.67, multiplied by the 34.7 million shares that would be issued upon conversion. The result of this calculation, representing the total intrinsic value of the warrant, is divided by the average Teradyne stock price for the period.