Cash Flow Statement

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Teradyne Inc., consolidated cash flow statement

US$ in thousands

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	448,752)	715,501)	1,014,589)	784,147)	467,468)
Depreciation	92,118)	90,763)	91,073)	80,119)	70,834)
Stock-based compensation	57,682)	48,228)	45,643)	44,906)	37,897)
Provision for excess and obsolete inventory	28,358)	31,452)	15,475)	17,534)	15,244)
Amortization	18,768)	19,912)	34,412)	46,624)	49,821)
Retirement plans actuarial (gains) losses	2,703)	(25,584)	(2,217)	10,284)	8,176)
Deferred taxes	(37,642)	(38,693)	(17,305)	(15,688)	(9,456)
(Gains) losses on investments	(14,915)	9,985)	(6,410)	(7,898)	(6,033)
Gains on sale of asset	—)	(3,410)	—)	—)	—)
Loss on convertible debt conversion	—)	—)	28,828)	—)	—)
Contingent consideration fair value adjustment	—)	—)	(7,227)	(23,271)	(19,257)
Investment impairment	—)	—)	—)	—)	15,000)
Other	(955)	2,353)	271)	1,557)	766)
Accounts receivable	70,977)	50,628)	(57,778)	(129,451)	(70,440)
Inventories	5,327)	(80,809)	6,495)	(8,438)	(27,408)
Prepayments and other assets	(43,101)	(140,713)	(175,846)	(64,418)	(23,784)
Accounts payable and other accrued expenses	46,782)	(60,507)	129,499)	73,167)	49,279)
Deferred revenue and customer advances	(57,210)	(6,233)	9,873)	39,974)	39,313)
Retirement plan contributions	(5,492)	(5,116)	(5,405)	(5,382)	(5,086)
Income taxes	(26,921)	(29,834)	(5,604)	25,169)	(13,584)
Changes in operating assets and liabilities, net of businesses acquired	(9,638)	(272,584)	(98,766)	(69,379)	(51,710)
Adjustments to reconcile net income from operations to net cash provided by operating activities	136,479)	(137,578)	83,777)	84,788)	111,282)
Net cash provided by operating activities	585,231)	577,923)	1,098,366)	868,935)	578,750)
Purchases of property, plant and equipment	(159,642)	(163,249)	(132,472)	(184,977)	(134,642)
Purchases of marketable securities	(161,906)	(287,409)	(661,781)	(900,196)	(662,701)
Proceeds from maturities of marketable securities	85,042)	222,941)	660,148)	479,678)	611,927)
Proceeds from sales of marketable securities	61,401)	268,058)	266,466)	35,006)	105,586)
Proceeds from insurance	460)	—)	—)	546)	2,912)
Issuance of convertible loan	(5,000)	—)	—)	—)	—)
Proceeds from sale of asset	—)	3,410)	—)	—)	—)
Purchase of investment and acquisition of business	—)	—)	(12,000)	149)	(79,742)
Net cash (used for) provided by investing activities	(179,645)	43,751)	120,361)	(569,794)	(156,660)
Repurchase of common stock	(397,241)	(752,082)	(600,000)	(88,465)	(500,000)
Dividend payments	(67,878)	(69,711)	(65,977)	(66,482)	(61,305)
Payments of convertible debt principal	(50,264)	(66,759)	(342,990)	—)	—)
Payments related to net settlement of employee stock compensation awards	(20,788)	(33,170)	(32,303)	(23,014)	(14,741)
Issuance of common stock under stock purchase and stock option plans	34,259)	28,733)	32,686)	28,527)	29,312)
Payments of contingent consideration	—)	—)	—)	(8,852)	(27,615)
Net cash used for financing activities	(501,912)	(892,989)	(1,008,584)	(158,286)	(574,349)
Effects of exchange rate changes on cash and cash equivalents	(876)	3,889)	(2,065)	(658)	(569)
Increase (decrease) in cash and cash equivalents	(97,202)	(267,426)	208,078)	140,197)	(152,828)
Cash and cash equivalents at beginning of year	854,773)	1,122,199)	914,121)	773,924)	926,752)
Cash and cash equivalents at end of year	757,571)	854,773)	1,122,199)	914,121)	773,924)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

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Cash flow statement item	Description	The company
Net cash provided by operating activities	Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.	Teradyne Inc. net cash provided by operating activities decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.
Net cash (used for) provided by investing activities	Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.	Teradyne Inc. net cash (used for) provided by investing activities decreased from 2021 to 2022 and from 2022 to 2023.
Net cash used for financing activities	Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.	Teradyne Inc. net cash used for financing activities increased from 2021 to 2022 and from 2022 to 2023.

Teradyne Inc. (NASDAQ:TER)

Cash Flow Statement