Accounting Policies (Tables)
|
12 Months Ended |
Dec. 31, 2020 |
Deferred Revenue and Customer Advances |
As of December 31, 2020 and 2019, deferred revenue and customer advances consisted of the following and are included in the short and long-term deferred revenue and customer advances:
|
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|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
Maintenance, service and training |
|
$ |
77,654 |
|
|
$ |
63,815 |
|
Customer advances, undelivered elements and other |
|
|
63,438 |
|
|
|
56,358 |
|
|
|
|
51,929 |
|
|
|
30,677 |
|
|
|
|
|
|
|
|
|
|
Total deferred revenue and customer advances |
|
$ |
193,021 |
|
|
$ |
150,850 |
|
|
|
|
|
|
|
|
|
|
|
Other Accrued Liabilities |
The balance below is included in other accrued liabilities:
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|
|
| |
|
|
|
|
|
|
|
|
Balance at December 31, 2017 |
|
$ |
8,200 |
|
|
|
|
41 |
|
Accruals for warranties issued during the period |
|
|
13,045 |
|
Accruals related to pre-existing warranties |
|
|
921 |
|
Settlements made during the period |
|
|
(14,298 |
) |
|
|
|
|
|
Balance at December 31, 2018 |
|
|
7,909 |
|
|
|
|
14 |
|
Accruals for warranties issued during the period |
|
|
14,106 |
|
Accruals related to pre-existing warranties |
|
|
4,026 |
|
Settlements made during the period |
|
|
(17,059 |
) |
|
|
|
|
|
Balance at December 31, 2019 |
|
|
8,996 |
|
Accruals for warranties issued during the period |
|
|
28,490 |
|
Accruals related to pre-existing warranties |
|
|
821 |
|
Settlements made during the period |
|
|
(21,674 |
) |
|
|
|
|
|
Balance at December 31, 2020 |
|
$ |
16,633 |
|
|
|
|
|
|
|
Extended Product Warranty of Short and Long-Term Deferred Revenue and Customer Advances |
The balance below is included in short and long-term deferred revenue and customer advances:
|
|
|
| |
|
|
|
|
|
|
|
|
Balance at December 31, 2017 |
|
$ |
24,438 |
|
Deferral of new extended warranty revenue |
|
|
23,753 |
|
Recognition of extended warranty deferred revenue |
|
|
(20,769 |
) |
|
|
|
|
|
Balance at December 31, 2018 |
|
|
27,422 |
|
Deferral of new extended warranty revenue |
|
|
23,271 |
|
Recognition of extended warranty deferred revenue |
|
|
(20,016 |
) |
|
|
|
|
|
Balance at December 31, 2019 |
|
|
30,677 |
|
Deferral of new extended warranty revenue |
|
|
41,694 |
|
Recognition of extended warranty deferred revenue |
|
|
(20,442 |
) |
|
|
|
|
|
Balance at December 31, 2020 |
|
$ |
51,929 |
|
|
|
|
|
|
|
Schedule of Prepayments and Other Current Assets |
Prepayments consist of the following and are included in prepayments and other current assets on the balance sheet:
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|
|
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| |
|
|
|
|
|
|
|
|
|
|
|
Contract manufacturer and supplier prepayments |
|
$ |
212,286 |
|
|
$ |
143,392 |
|
|
|
|
9,361 |
|
|
|
8,046 |
|
Prepaid maintenance and other services |
|
|
13,116 |
|
|
|
8,503 |
|
|
|
|
15,329 |
|
|
|
16,753 |
|
|
|
|
|
|
|
|
|
|
|
|
$ |
250,092 |
|
|
$ |
176,694 |
|
|
|
|
|
|
|
|
|
|
|
Useful Lives of Assets |
Teradyne provides for depreciation of its assets principally on the straight-line method with the cost of the assets being charged to expense over their useful lives as follows:
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| |
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Lesser of lease term or 10 years |
|
|
10 years |
Test systems manufactured internally |
|
|
Machinery, equipment and software |
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|