Company: PTC
Filing Date: 2025-11-21
Form Type: 10-K
Source: 0001193125-25-291326
Chunk: 82

Company: PTC INC.
Filing Date: 2025-11-21
Form: 10-K
Item: Item 6
Chunk 82
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 not deductible

         (246,107
         )

         (257,731
         )

         Lease assets

         (29,298
         )

         (34,160
         )

         Pension prepayments

         (4,279
         )

         (3,283
         )

         Deferred revenue

         (10,212
         )

         (1,243
         )

         Depreciation

         (3,277
         )

         (4,683
         )

         Deferred income

         (14,518
         )

         (11,636
         )

         Prepaid commissions

         (14,479
         )

         (13,738
         )

         Other

         (9,120
         )

         (9,030
         )

         Total deferred tax liabilities

         (331,290
         )

         (335,504
         )

         Net deferred tax assets
          
         $
         163,920

         $
         127,188

       We reassess our valuation allowance requirements each financial reporting period. We assess available positive and negative evidence to estimate whether sufficient future taxable income will be generated to use our existing deferred tax assets.For U.S. tax return purposes, net operating loss (NOL) carryforwards and tax credits are generally available to be carried forward to future years, subject to certain limitations. At September 30, 2025, we had U.S. federal tax effected NOL carryforwards from acquisitions of $0.4 million which expire in 2026 to 2033. The use of these NOL carryforwards is limited as a result of the change in ownership rules under Internal Revenue Code Section 382. Additionally, we have tax effected state NOL carryforwards, net of federal benefit, of $4.9 million, which expire beginning in 2027 and ending in 2042. As of September 30, 2025, we had federal R&D credit carryforwards of $2.2 million, which expire beginning in 2026 and ending in 2035, and Massachusetts R&D credit carryforwards of $16.8 million, which expire beginning in 2026 and ending in 2040. We also had foreign tax credits of $6.0 million, which expire beginning in 2032 and ending in 2035.We also have tax effected NOL carryforwards in non-U.S. jurisdictions totaling $6.7 million, the majority of which do