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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Apr. 02, 2023
Apr. 03, 2022
Revenues:    
Total revenues [1] $ 617,529 $ 755,370
Cost of revenues:    
Total cost of revenues (exclusive of acquired intangible assets amortization shown separately below) 261,109 300,437
Gross profit 356,420 454,933
Operating expenses:    
Selling and administrative 150,955 140,185
Engineering and development 105,762 108,116
Acquired intangible assets amortization 4,802 5,063
Restructuring and other 2,037 15,714
Total operating expenses 263,556 269,078
Income from operations 92,864 185,855
Non-operating (income) expense:    
Interest income (5,258) (703)
Interest expense 987 1,012
Other (income) expense, net 51 5,187
Income before income taxes [2],[3] 97,084 180,359
Income tax provision 13,553 18,431
Net income $ 83,531 $ 161,928
Net income per common share:    
Basic $ 0.54 $ 1
Diluted $ 0.5 $ 0.92
Weighted average common shares—basic 155,904 162,048
Weighted average common shares—diluted 166,308 175,575
Product [Member]    
Revenues:    
Total revenues $ 473,418 $ 625,875
Cost of revenues:    
Total cost of revenues (exclusive of acquired intangible assets amortization shown separately below) 198,665 243,016
Service [Member]    
Revenues:    
Total revenues 144,111 129,495
Cost of revenues:    
Total cost of revenues (exclusive of acquired intangible assets amortization shown separately below) $ 62,444 $ 57,421
[1] Includes $1.3 million and $2.3 million in 2023 and 2022, respectively, for leases of Teradyne’s systems recognized outside Accounting Standards Codification (“ASC”) 606 “Revenue from Contracts with Customers.”
[2] Included in Corporate and Eliminations are: interest income, interest expense, net foreign exchange gains (losses), intercompany eliminations, legal and environmental fees, severance charges, acquisition related charges and compensation and an expense for the modification of Teradyne’s former chief executive officer’s outstanding equity awards.
[3] Included in income (loss) before taxes are charges related to restructuring and other, and inventory charges.