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TERADYNE, INC Annual Report (Amendment), Year Ended Dec 31, 2001

Filing Date
Filed June 28, 2002
Period End
December 31, 2001
Security
TER
In the record · 2016–202610-K1110-Q328-K91

TER filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 91 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Dec ’16Dec ’16
  2. FY2018 annual report10-K · Mar ’19Mar ’19
  3. Leadership change8-K · Sep ’21Sep ’21
  4. Leadership change8-K · Oct ’25Oct ’25

01—Abstract

Summary

Summary of the 10-K/A filed June 28, 2002. Cited figures are marked; the original filing is the authoritative source.

This filing is Amendment No. 1 (Form 10-K/A) to Teradyne's annual report for fiscal 2001, filed June 28, 2002.

It does not contain Teradyne's core financial statements, revenue, earnings, or segment results. Its sole purpose, under General Instruction F of Form 10-K and Rule 15d-21, is to add the audited financial statements of the GenRad Choice Investment Plan, a 401(k)-style employee plan inherited from Teradyne's October 26, 2001 acquisition of GenRad. Investors seeking Teradyne's operating performance should consult the original 10-K filed March 29, 2002.

The only Teradyne-level data in the filing shows about 182.4 million common shares outstanding as of February 24, 2002, and a non-affiliate market value of roughly $5.4 billiona on the NYSE. The allowance for doubtful accounts rose to $6.3 million at year-end 2001 from $5.2 million a year earlier, after $1.2 million of provisions. The exhibit index also references the October 2001 private placement of Convertible Senior Notes due 2006, the Megatest and GenRad acquisitions, and several change-in-control agreements with executives.

The GenRad plan's financials show net assets of about $66.5 millionb at the start of 2001 and $59.2 million at the end, with a net depreciation of $5.7 million in investment value and $9.4 million of benefit payments. The plan ceased to exist on December 31, 2001, and its assets were transferred to the Teradyne Savings Plan effective January 1, 2002.

The plan held 1.17 million dollars of Teradyne common stock at year-end. These details are of limited relevance to equity valuation.

02—Key points

Key Highlights

  1. Document type: Form 10-K/A, Amendment No. 1, for fiscal year ended December 31, 2001. It supplements the original 10-K filed March 29, 2002 and omits Teradyne's core financial statements.
  2. Purpose: adds audited financial statements and Form 5500 schedule for the GenRad Choice Investment Plan, filed as Exhibit 99.1, as required under ERISA-related reporting rules.
  3. GenRad plan terminated: the plan ceased to exist December 31, 2001, and its $59.2 million in net assets was transferred to the Teradyne Savings Plan effective January 1, 2002.
  4. Plan investment performance: net depreciation of $5.7 million in 2001 versus $1.6 million in 2000, with $5.5 million in contributions and $9.4 million in benefit payments.
  5. Teradyne share data: about 182.4 million common shares outstanding as of February 24, 2002, with a non-affiliate market value of about $5.4 billion.
  6. Acquisition context: Teradyne acquired GenRad on October 26, 2001; GenRad stock converted at 0.1733 Teradyne shares per GenRad share.
  7. Balance sheet detail: allowance for doubtful accounts increased to $6.3 million at year-end 2001 from $5.2 million, with $1.2 million charged to expense and $74 thousand in deductions.

03—Questions

Frequently Asked Questions

  1. Does this filing contain Teradyne's revenue, earnings, or balance sheet?

    No. The filing is an amendment that adds only the GenRad Choice Investment Plan's financial statements and a valuation schedule for receivables. Teradyne's full financial statements are in the original 10-K filed March 29, 2002.

  2. Why did Teradyne file this amendment?

    Under General Instruction F of Form 10-K and Rule 15d-21, companies with employee benefit plans that hold their stock must file that plan's audited financial statements. Because the GenRad plan held Teradyne stock after the acquisition, the statements were filed as an amendment.

  3. What happened to the GenRad Choice Investment Plan?

    The Teradyne board voted on November 15, 2001 to merge the plan into the Teradyne Savings Plan. The GenRad plan ceased to exist on December 31, 2001, and its assets were transferred effective January 1, 2002.

  4. How did the plan's assets perform in 2001?

    Net assets fell from $66.5 million to $59.2 million by year-end 2001 after the asset transfer. Investments had a net depreciation of $5.7 million, participant and employer contributions totaled $5.5 million, and $9.4 million was paid out in benefits.

  5. What does the filing reveal about Teradyne's capital structure?

    The exhibit index references Convertible Senior Notes due 2006 issued in an October 2001 private placement, with a registration rights agreement and an indenture. It also shows about 182.4 million shares outstanding and a non-affiliate market value of about $5.4 billion as of February 24, 2002.

04—Continue

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