Goodwill is considered impaired when the carrying value of a reporting unit exceeds its estimated fair value. Teradyne performs its annual goodwill impairment test as required under the provisions of ASC 350-10, “Intangibles—Goodwill and Other” on December 31 of each fiscal year unless there are negative qualitative factors relating to macroeconomic conditions, industry and market considerations, cost factors, overall financial performance, and other relevant events and changes during an interim period. The presence of such factors could, under certain circumstances, be a triggering event that causes us to perform a goodwill impairment test.

The changes in the carrying amount of goodwill by reportable segments for the six months ended June 28, 2026, were as follows:


	Robotics			Semiconductor Test			Product Test			Total
	(in thousands)
Balance at December 31, 2025
Goodwill	$	416,401		$	263,598		$	603,586		$	1,283,585
Accumulated impairment losses		—			(260,540	)		(502,026	)		(762,566	)
Total Goodwill		416,401			3,058			101,560			521,019
Acquisitions (1)		—			22,305			131,634			153,939
Foreign currency translation adjustment		(11,104	)		(37	)		—			(11,141	)
Balance at June 28, 2026
Goodwill	$	405,297		$	285,866		$	735,220		$	1,426,383
Accumulated impairment losses		—			(260,540	)		(502,026	)		(762,566	)
Total Goodwill	$	405,297		$	25,326		$	233,194		$	663,817

(1)

Goodwill increased due to acquisitions made in the six months ended June 28, 2026, including the acquisition of a controlling interest in MLTP. See Note D: “Acquisitions” for more information.

Teradyne reviews long-lived assets for impairment whenever events or changes in business circumstances indicate that the carrying amount of the assets may not be fully recoverable or that the useful lives of these assets are no longer appropriate. For the six months ended June 28, 2026, the Company did not record any intangible asset impairment.

Amortizable intangible assets consist of the following and are included in intangible assets, net on the balance sheet:


	Gross Carrying Amount (1)		Accumulated Amortization (1)			Foreign Currency Translation Adjustment			Net Carrying Amount
	(in thousands)
Balance at June 28, 2026
Developed technology	$	269,110	$	(185,930	)	$	—		$	83,180
Customer relationships		54,064		(42,735	)		—			11,329
Tradenames and trademarks		39,157		(30,606	)		(1,150	)		7,401
Total intangible assets	$	362,331	$	(259,271	)	$	(1,150	)	$	101,910
Balance at December 31, 2025
Developed technology	$	250,025	$	(211,662	)	$	60		$	38,423
Customer relationships		56,480		(51,953	)		204			4,731
Tradenames and trademarks		40,487		(31,339	)		(1,031	)		8,117
Total intangible assets	$	346,992	$	(294,954	)	$	(767	)	$	51,271

(1)

In the six months ended June 28, 2026, $42.6 million of amortizable intangible assets became fully amortized and have been eliminated from the gross carrying amount and accumulated amortization.

Aggregate intangible asset amortization expense was $5.0 million and $7.2 million, respectively, for the three and six months ended June 28, 2026, and $3.7 million and $8.3 million, respectively, for the three and six months ended June 29, 2025.

Estimated intangible asset amortization expense for each of the five succeeding fiscal years and thereafter is as follows:


Year	Amortization Expense
	(in thousands)
2026	$	10,294
2027		19,603
2028		19,522
2029		18,200
2030		9,643
Thereafter		24,648