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Operating Segment, Geographic and Significant Customer Information (Tables)
12 Months Ended
Dec. 31, 2019
Segment Information
Segment information for the years ended December 31, 2019, 2018, and 2017 is as follows:
                                                 
 
Semiconductor
Test
 
 
Industrial Automation
 
 
System
Test
 
 
Wireless
Test
 
 
Corporate
And
Other
 
 
Consolidated
 
 
(in thousands)
 
2019
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues
  $
1,552,571
    $
298,139
    $
287,455
    $
157,315
    $
(515
)   $
2,294,965
 
Income (loss) before taxes (1)(2)
   
416,973
     
(5,916
   
93,543
     
35,585
     
(14,413
   
525,772
 
Total assets (3)
   
784,808
     
671,559
     
131,428
     
97,299
     
1,101,920
     
2,787,014
 
Property additions
   
112,145
     
9,076
     
3,059
     
10,362
     
—  
     
134,642
 
Depreciation and amortization expense
   
59,197
     
40,904
     
5,518
     
5,365
     
9,671
     
120,655
 
2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues
  $
1,492,417
    $
261,452
    $
216,132
    $
132,006
    $
(1,205
)   $
2,100,802
 
Income (loss) before taxes (1)(2)
   
397,645
     
7,670
     
48,857
     
29,052
     
(15,423
)    
467,801
 
Total assets (3)
   
669,452
     
607,502
     
88,098
     
77,570
     
1,263,984
     
2,706,606
 
Property additions
   
94,496
     
11,188
     
3,469
     
5,226
     
—  
     
114,379
 
Depreciation and amortization expense
   
58,095
     
36,755
     
6,430
     
5,328
     
6,616
     
113,224
 
2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues
  $
1,662,549
    $
170,056
    $
192,135
    $
111,866
    $
—  
    $
2,136,606
 
Income (loss) before taxes (1)(2)
   
491,361
     
8,763
     
10,305
     
17,350
     
(3,368
)    
524,411
 
Total assets (3)
   
597,480
     
368,037
     
97,018
     
59,912
     
1,987,098
     
3,109,545
 
Property additions
   
87,920
     
7,044
     
5,976
     
4,435
     
—  
     
105,375
 
Depreciation and amortization expense
   
58,901
     
25,711
     
6,646
     
5,392
     
11,425
     
108,075
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Included in Corporate and Other are: contingent consideration adjustments,
investment impairment
,
 
pension and postretirement plans actuarial gains (losses), severance charges
,
 
property
 
insurance
 
recovery
 
related to the Japan earthquake, interest income, interest expense, net foreign exchange gains (losses), intercompany eliminations and acquisition related charges.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(2) Included in income (loss) before taxes are charges and credits related to restructuring and other, and inventory charges.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(3)
Total assets are attributable to each segment. Corporate assets consist of cash and cash equivalents, marketable securities and certain other assets.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Schedule of Segment Reporting Information by Segment Charges
Included in each segment are charges and credits in the following line items in the statements of operation
s
:
 
For the Year Ended December 31,
 
 
2019
 
 
2018
 
 
2017
 
 
(in thousands)
 
Semiconductor Test:
 
 
 
 
 
 
 
 
 
Cost of revenues—inventory charge
  $
8,731
    $
6,822
    $
4,606
 
Restructuring and other—employee severance
   
1,277
     
8,429
     
1,779
 
Restructuring and other—impairment of fixed assets
   
—  
     
—  
     
1,124
 
Industrial Automation:
 
 
 
 
 
 
 
 
 
Restructuring and other—employee severance
  $
796
    $
    $
1,414
 
Restructuring and other—acquisition related expenses and compensation
   
741
     
1,163
     
 
Cost of revenues—inventory charge
   
508
     
680
     
—  
 
System Test:
 
 
 
 
 
 
 
 
 
Cost of revenues—inventory charge
  $
2,000
    $
1,175
    $
1,918
 
Wireless:
 
 
 
 
 
 
 
 
 
Cost of revenues—inventory charge
  $
4,005
    $
2,565
    $
2,190
 
Restructuring and other—lease impairment
   
—  
     
—  
     
972
 
Corporate and Other:
 
 
 
 
 
 
 
 
 
Restructuring and other—MiR contingent consideration adjustment
  $
(22,199
)   $
17,666
    $
—  
 
Other (income) expense, net—investment impairment charge
 
 
15,000
 
 
 
—  
 
 
 
—  
 
Restructuring and other—AutoGuide contingent consideration adjustment
 
 
2,976
 
 
 
 
 
 
 
Selling and administrative—equity modification charge
   
2,108
     
—  
     
—  
 
Restructuring and other—acquisition related expenses and compensation
   
1,765
     
3,422
     
—  
 
Restructuring and other—Universal Robots contingent consideration adjustment
   
—  
     
(16,679
)    
7,820
 
Restructuring and other—property insurance recovery related to Japan earthquake
   
—  
     
—  
     
(5,064
Revenues by Country
Information as to Teradyne’s revenues by country is as follows:
 
2019
 
 
2018
 
 
2017
 
 
(in thousands)
 
Revenues from customers (1):
   
     
     
 
China
  $
514,327
    $
348,942
    $
260,451
 
Taiwan
   
485,681
     
516,322
     
687,031
 
United States
   
333,059
     
282,869
     
252,516
 
Korea
   
239,504
     
163,224
     
206,819
 
Europe
   
219,015
     
223,207
     
163,715
 
Japan
   
175,322
     
158,281
     
169,093
 
Thailand
   
87,503
     
59,184
     
29,566
 
Singapore
   
84,111
     
108,618
     
101,085
 
Malaysia
   
58,200
     
122,797
     
124,048
 
Philippines
   
54,560
     
77,996
     
105,850
 
Rest of the World
   
43,683
     
39,362
     
36,432
 
                         
  $
2,294,965
    $
2,100,802
    $
2,136,606
 
                         
 
(1) Revenues attributable to a country are based on location of customer site.
Long-Lived Assets by Geographic Area
Long-lived assets by geographic area:
 
United
 
States
 
 
Foreign(1)
 
 
Total
 
 
(in thousands)
 
December 31, 2019
  $
252,812
    $
124,943
    $
377,755
 
December 31, 2018
  $
209,368
    $
70,453
    $
279,821
 
 
(1) As of December 31, 2019 and 2018, long-lived assets attributable to Singapore were
$35.2
 million and $19.4 million, respectively.