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Revenue
 3 Months Ended
Mar. 29, 2020
Revenue from Contract with Customer [Abstract]  
Revenue
D. REVENUE
Disaggregation of Revenue
The following table provides information about disaggregated revenue by timing of revenue recognition, primary geographical market, and major product lines.
                                                                         
 
Semiconductor Test
   
 
  
Industrial Automation
 
Wireless
Test
 
  
Corporate
and Other
 
  
Total
 
 
System on
a Chip
 
  
Memory
 
  
System
Test
 
  
Universal
Robots
 
  
Mobile
Industrial
Robots
 
  
AutoGuide
 
  
 
  
 
  
 
 
(in thousands)
 
For the Three Months Ended March 29, 2020 (1)
 
 
 
  
 
 
  
 
 
  
 
 
  
 
 
  
 
 
  
 
 
  
 
 
  
 
 
Timing of Revenue Recognition
 
 
 
  
 
 
  
 
 
  
 
 
  
 
 
  
 
 
  
 
 
  
 
 
  
 
 
Point in Time
  $
348,044
     $
79,398
     $
100,712
     $
47,502
     $
9,097
     $
1,124
     $
41,056
     $
—
     $
626,933
  
Over Time
   
52,095
      
4,952
      
15,364
      
2,195
      
41
      
346
      
2,429
      
—
      
77,422
  
                                                                         
Total
  $
400,139
     $
84,350
     $
116,076
     $
49,697
     $
9,138
     $
1,470
     $
43,485
     $
—
     $
704,355
  
                                                                         
Geographical Market
    
     
     
     
     
     
     
     
     
 
Asia Pacific
  $
362,732
     $
76,110
     $
80,017
     $
10,917
     $
1,593
     $
—
     $
37,805
     $
—
     $
569,174
  
Americas
   
17,386
      
6,896
      
28,291
      
14,743
      
3,465
      
1,470
      
4,688
      
—
      
76,939
  
Europe, Middle East and Africa
   
20,021
      
1,344
      
7,768
      
24,037
      
4,080
      
—
      
992
      
—
      
58,242
  
                                                                         
Total
  $
400,139
     $
84,350
     $
116,076
     $
49,697
     $
9,138
     $
1,470
     $
43,485
     $
—
     $
704,355
  
                                                                         
For the Three Months Ended March 31, 2019 (1)
 
 
 
  
 
 
  
 
 
  
 
 
  
 
 
  
 
 
  
 
 
  
 
 
  
 
 
Timing of Revenue Recognition
   
     
     
     
     
     
     
     
     
 
Point in Time
  $
238,755
     $
43,775
     $
45,237
     $
55,379
     $
9,106
     $
—  
     $
27,454
     $
(151
 )   $
419,555
  
Over Time
   
54,051
      
4,272
      
12,983
      
1,651
      
—  
      
—
     
1,587
      
—
      
74,544
  
                                                                         
Total
  $
292,806
     $
48,047
     $
58,220
     $
57,030
     $
9,106
     $
—
    $
29,041
     $
(151
 )   $
494,099
  
                                                                         
Geographical Market
    
     
     
     
     
     
     
     
     
 
Asia Pacific
  $
260,326
     $
38,851
     $
24,285
     $
14,618
     $
1,727
     $
—
    $
26,019
     $
—
     $
365,826
  
Americas
   
16,167
      
8,763
      
26,809
      
15,803
      
3,539
      
—
     
2,241
      
(151
 )    
73,171
  
Europe, Middle East and Africa
   
16,313
      
433
      
7,126
      
26,609
      
3,840
      
—
     
781
      
—
      
55,102
  
                                                                         
Total
  $
292,806
     $
48,047
     $
58,220
     $
57,030
     $
9,106
     $
—
    $
29,041
     $
(151
 )   $
494,099
  
                                                                         
 
 
 
 
 
 
 
 
 
 
 
(1)
Includes $1.8 million and $1.7 million in 2020 and 2019, for leases of Teradyne’s systems recognized outside ASC 606 “
Revenue from Contracts with Customers.”
 
 
 
 
 
 
 
 
Contract Balances
For
the three months ended March 29, 2020 and March 31, 2019
,
Teradyne recognized
 
$
39.5
 million and $
19.5
 
million, respectively, that was previously included within the deferred revenue and customer advances balances. This revenue primarily relates to undelivered hardware, extended warranties, training, application support, and post contract support. Each of these represents a distinct performance obligation. Teradyne expects to
recognize
66
%
of the remaining performance obligation in the
next
12
months,
26
% in
1-3
years, and the remainder thereafter.
Accounts Receivable
Teradyne sells certain trade accounts receivables on a
non-recourse
basis to third-party financial institutions pursuant to factoring agreements. Teradyne accounts for these transactions as sales of receivables and presents cash proceeds as a cash provided by operating activities in the consolidated statements of cash flows. Total trade accounts receivable sold under the factoring agreements were $46.8 million and $41.7 million for the three months ended March 29, 2020 and March 31, 2019, respectively. Factoring fees for the sales of receivables were recorded in interest expense and were not material.