Company: PTC
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0000950170-25-015530
Chunk: 77

Company: PTC INC.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 1
Chunk 77
---
 these matters as appropriate. We are currently under audit by tax authorities in several jurisdictions. Audits by tax authorities typically involve examination of the deductibility of certain permanent items, transfer pricing, limitations on net operating losses and tax credits.As of December 31, 2024 and September 30, 2024, we had unrecognized tax benefits of $43.4 million and $65.0 million, respectively. If all our unrecognized tax benefits as of December 31, 2024 were to become recognizable in the future, we would record a benefit to the income tax provision of $43.4 million, which would be partially offset by an increase in the U.S. valuation allowance of $6.3 million. 

13

Although we believe our tax estimates are appropriate, the final determination of tax audits and any related litigation could result in favorable or unfavorable changes in our estimates. We believe it is reasonably possible that within the next 12 months the amount of unrecognized tax benefits related to the resolution of multi-jurisdictional tax positions could be reduced by up to $5 million.

10. DebtAs of December 31, 2024 and September 30, 2024, we had the following debt obligations:

        (in thousands)
         
        December 31,2024

        September 30,2024

        4.000% Senior notes due 2028
         
        $
        500,000

        $
        500,000

        3.625% Senior notes due 2025

        500,000

        500,000

        Credit facility revolver line(1)(2)

        60,000

        262,000

        Credit facility term loan(1)(2)

        487,500

        490,625

        Total debt

        1,547,500

        1,752,625

        Unamortized debt issuance costs for the senior notes(3)

        (3,509
        )

        (4,053
        )

        Total debt, net of issuance costs(4)
         
        $
        1,543,991

        $
        1,748,572

      (1)Unamortized debt issuance costs related to the credit facility were $2.3 million included in Other current assets and $5.8 million included in Other assets on the Consolidated Balance Sheet as of December 31, 2024 and $2.3 million