Company: PTC
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0000950170-25-015530
Chunk: 75

Company: PTC INC.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 1
Chunk 75
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 features. We manage credit risk with counterparties by trading among several counterparties and we review our counterparties’ credit at least quarterly.As of December 31, 2024 and September 30, 2024, we had outstanding forward contracts designated as net investment hedges with notional amounts equivalent to the following:

        Currency Hedged (in thousands)
         
        December 31,2024

        September 30,2024

        Euro / U.S. Dollar
         
        $
        436,716

        $
        462,894

        Japanese Yen / U.S. Dollar

        9,822

        10,739

        Total
         
        $
        446,538

        $
        473,633

       The following table shows the effect of our derivative instruments designated as net investment hedges in the Consolidated Statements of Operations for the three months ended December 31, 2024 and December 31, 2023:

        (in thousands)

        Three months ended

        Location of Gain (Loss)
         
        December 31,2024

        December 31,2023

        Gain (loss) recognized in Other comprehensive income (loss) ("OCI")
         
        OCI
         
        $
        33,448

        $
        (15,304
        )

        Gain (loss) reclassified from OCI to earnings
         
        n/a
         
        $
        —

        $
        —

        Gain recognized, excluded portion
         
        Other income (expense), net
         
        $
        1,075

        $
        1,136

      As of December 31, 2024, we estimate that all amounts reported in Accumulated other comprehensive loss will be applied against exposed balance sheet accounts upon translation within the next three months.

12

Offsetting Derivative Assets and LiabilitiesWe have entered into master netting arrangements for our forward contracts that allow net settlements under certain conditions. Although netting is permitted, it is currently our policy and practice to record all derivative assets and liabilities on a gross basis in the Consolidated Balance Sheets.The following table sets forth the offsetting of derivative assets as of December 31, 2024:

        (in thousands)
         
        Gross Amounts Offset in the Consolidated Balance Sheets

        Gross Amounts Not Offset in the Consolidated Balance Sheets

        As of December 31, 2024
         
        GrossAmount