Company: PTC
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0000950170-25-015530
Chunk: 76

Company: PTC INC.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 1
Chunk 76
---
 ofRecognizedAssets

        Gross Amounts Offset in the Consolidated Balance Sheets

        Net Amounts of Assets Presented in the Consolidated Balance Sheets

        FinancialInstruments

        CashCollateralReceived

        NetAmount

        Forward contracts
         
        $
        10,598

        $
        —

        $
        10,598

        $
        (6,415
        )
         
        $
        —

        $
        4,183

      The following table sets forth the offsetting of derivative liabilities 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 ofRecognizedLiabilities

        GrossAmountsOffset in theConsolidatedBalanceSheets

        Net Amounts of LiabilitiesPresented intheConsolidatedBalance Sheets

        FinancialInstruments

        CashCollateralPledged

        NetAmount

        Forward contracts
         
        $
        6,415

        $
        —

        $
        6,415

        $
        (6,415
        )
         
        $
        —

        $
        —

9. Income Taxes

        (in thousands)
         
        Three months ended

        December 31,2024

        December 31,2023

        Income before income taxes
         
        $
        93,154

        $
        85,599

        Provision for income taxes
         
        $
        10,922

        $
        19,212

        Effective income tax rate

        12
        %

        22
        %
       
      The effective tax rate for the three months ended December 31, 2024 was lower than the effective tax rate for the corresponding prior-year period primarily due to changes in the geographic mix of income before taxes. Additionally, for the three months ended December 31, 2024 and December 31, 2023, rates were impacted by a benefit of $5.4 million and an expense of $3.6 million, respectively, associated with the impact of tax reserves related to prior years in foreign jurisdictions.In the normal course of business, PTC and its subsidiaries are examined by various taxing authorities, including the Internal Revenue Service in the U.S. We regularly assess the likelihood of additional assessments by tax authorities and provide for