Company: PTC
Filing Date: 2025-11-21
Form Type: 10-K
Source: 0001193125-25-291326
Chunk: 79

Company: PTC INC.
Filing Date: 2025-11-21
Form: 10-K
Item: Item 6
Chunk 79
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 2023. We also recorded a liability of $620.0 million related to the fair value of the $650.0 million deferred purchase price payment. 

         (in thousands)

         Goodwill
          
         $
         974,850

         Customer relationships

         512,700

         Purchased software

         106,900

         Accounts receivable

         58,722

         Trademarks

         9,000

         Other net assets

         5,540

         Net tax liability

         (121,656
         )

         Deferred revenue

         (97,829
         )

         Total
          
         $
         1,448,227

       The acquired customer relationships, purchased software, and trademarks are being amortized over useful lives of 20 years, 10 years, and 10 years, respectively, based on the expected economic benefit pattern of the assets. The acquired goodwill will not be deductible for income tax purposes. The amount of goodwill resulting from the purchase price allocation reflects expected future growth as ServiceMax expands our closed-loop product lifecycle management (PLM) strategy. Unaudited Pro Forma Financial Information The unaudited pro forma financial information in the table below summarizes the combined results of operations for PTC and ServiceMax for the pro forma year ended September 30, 2023. The unaudited pro forma financial information as presented below is for informational purposes only and is not necessarily indicative of the results of operations that would have been achieved if the acquisition had taken place at the beginning of fiscal 2022. Since the acquisition took place in fiscal 2023, the unaudited pro forma financial information was prepared as though ServiceMax was acquired at the beginning of fiscal 2022. The unaudited pro forma financial information for all periods presented includes adjustments to reflect certain business combination effects, including: amortization of acquired intangible assets, including the elimination of related ServiceMax expenses; acquisition-related costs incurred by both parties; reversal of certain costs incurred by ServiceMax which would not have been incurred had the acquisition occurred at the beginning of fiscal 2022; interest expense under the new combined capital structure; stock-based compensation charges; and the related tax effects as though ServiceMax was acquired as of the beginning of fiscal 2022.The unaudited pro forma financial information for the year ended September 30, 2023 presented below combines the historical results of PTC for the period, the historical results of ServiceMax for the three months ended