Company: PTC
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0000950170-25-015530
Chunk: 73

Company: PTC INC.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 1
Chunk 73
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        $
        181

        $
        4,833

        $
        1,021

        Derivative liabilities(2):

        Forward contracts
         
        $
        —

        $
        630

        $
        6,415

        $
        3,536

      (1)As of December 31, 2024 and September 30, 2024, current derivative assets are recorded in Other current assets in the Consolidated Balance Sheets. (2)As of December 31, 2024 and September 30, 2024, current derivative liabilities are recorded in Accrued expenses and other current liabilities in the Consolidated Balance Sheets.Non-Designated HedgesWe hedge our net foreign currency monetary assets and liabilities primarily resulting from foreign currency denominated receivables and payables with foreign exchange forward contracts to reduce the risk that our earnings and cash flows will be adversely affected by changes in foreign currency exchange rates. These contracts have maturities of up to approximately three months. Generally, we do not designate these foreign currency forward contracts as hedges for accounting purposes and changes in the fair value of these instruments are recognized immediately in earnings. Because we enter into forward contracts only as an economic hedge, gains or losses on the underlying foreign-denominated balance are generally offset by the losses or gains on the forward contract. Gains and losses on forward contracts and foreign denominated receivables and payables are included in Other income (expense), net.As of December 31, 2024 and September 30, 2024, we had outstanding forward contracts not designated as hedging instruments with notional amounts equivalent to the following:

        Currency Hedged (in thousands)
         
        December 31,2024

        September 30,2024

        Euro / U.S. Dollar
         
        $
        717,212

        $
        781,398

        British Pound / U.S. Dollar

        4,567

        24,810

        Israeli Shekel / U.S. Dollar

        12,327

        12,535

        Japanese Yen / U.S. Dollar

        26,320

        42,340

        Swiss Franc / U.S. Dollar

        25,714

        74,939

        Swedish Krona / U.S. Dollar

        16,924

        48,596

        Chinese Renminbi / U.S. Dollar