ANSYS (ANSS) 10-Q 4 Nov 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	9 Months Ended
	Sep. 30, 2020	Oct. 31, 2020
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2020
Entity File Number	0-20853
Entity Registrant Name	ANSYS, Inc.
Entity Central Index Key	0001013462
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	04-3219960
Entity Address, Address Line One	2600 ANSYS Drive,
Entity Address, City or Town	Canonsburg,
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	15317
City Area Code	844
Local Phone Number	462-6797
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		85,884,127
The Nasdaq Global Select Market
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, $0.01 par value per share
Trading Symbol	ANSS
Security Exchange Name	NASDAQ

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 844,741	$ 872,094
Short-term investments	468	288
Accounts receivable, less allowance for doubtful accounts of $13,400 and $8,700, respectively	371,352	433,479
Other receivables and current assets	242,160	249,619
Total current assets	1,458,721	1,555,480
Long-term assets:
Property and equipment, net	90,299	83,636
Operating lease right-of-use assets	115,705	105,671
Goodwill	2,491,590	2,413,280
Other intangible assets, net	474,785	476,711
Other long-term assets	189,227	180,032
Deferred income taxes	25,968	24,077
Total long-term assets	3,387,574	3,283,407
Total assets	4,846,295	4,838,887
Current liabilities:
Accounts payable	10,578	14,298
Accrued bonuses and commissions	52,352	101,546
Accrued income taxes	29,570	9,996
Current portion of long-term debt	0	75,000
Other accrued expenses and liabilities	142,856	142,947
Deferred revenue	326,491	351,353
Total current liabilities	561,847	695,140
Long-term liabilities:
Deferred income taxes	63,729	78,643
Long-term operating lease liabilities	101,941	91,768
Long-term debt	423,759	423,531
Other long-term liabilities	105,406	96,426
Total long-term liabilities	694,835	690,368
Commitments and contingencies
Stockholders' equity:
Preferred stock, $.01 par value; 2,000,000 shares authorized; zero shares issued or outstanding	0	0
Common stock, $.01 par value; 300,000,000 shares authorized; 94,627,585 shares issued	946	946
Additional paid-in capital	1,182,127	1,188,939
Retained earnings	3,588,961	3,370,706
Treasury stock, at cost: 8,774,080 and 8,893,177 shares, respectively	(1,131,084)	(1,041,831)
Accumulated other comprehensive loss	(51,337)	(65,381)
Total stockholders' equity	3,589,613	3,453,379
Total liabilities and stockholders' equity	$ 4,846,295	$ 4,838,887

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Allowance for doubtful accounts	$ 13,400	$ 8,700
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	2,000,000	2,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares issued	94,627,585	94,627,585
Treasury stock, shares	8,774,080	8,893,177

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenue:
Total revenue	$ 366,965	$ 343,899	$ 1,057,611	$ 1,029,664
Cost of sales:
Amortization	9,911	4,762	29,227	14,064
Total cost of sales	53,385	41,365	157,361	116,677
Gross profit	313,580	302,534	900,250	912,987
Operating expenses:
Selling, general and administrative	132,642	120,682	391,862	353,263
Research and development	86,616	73,018	258,861	219,058
Amortization	4,237	3,787	12,562	11,342
Total operating expenses	223,495	197,487	663,285	583,663
Operating income	90,085	105,047	236,965	329,324
Interest income	754	3,188	4,463	9,610
Interest expense	(1,853)	(239)	(8,544)	(561)
Other income (expense), net	1,158	833	3,169	(937)
Income before income tax provision	90,144	108,829	236,053	337,436
Income tax provision	14,517	19,366	17,798	51,993
Net income	$ 75,627	$ 89,463	$ 218,255	$ 285,443
Earnings per share - basic:
Earnings per share	$ 0.88	$ 1.06	$ 2.55	$ 3.40
Weighted average shares	85,798	84,109	85,749	83,951
Earnings per share - diluted:
Earnings per share	$ 0.87	$ 1.04	$ 2.50	$ 3.34
Weighted average shares	87,224	85,733	87,176	85,570
Software licenses
Revenue:
Total revenue	$ 141,622	$ 137,144	$ 398,793	$ 430,687
Cost of sales:
Total cost of sales	7,251	5,708	20,688	16,620
Maintenance and service
Revenue:
Total revenue	225,343	206,755	658,818	598,977
Cost of sales:
Total cost of sales	$ 36,223	$ 30,895	$ 107,446	$ 85,993

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Net income	$ 75,627	$ 89,463	$ 218,255	$ 285,443
Other comprehensive income (loss):
Foreign currency translation adjustments	28,048	(20,762)	14,044	(27,762)
Comprehensive income	$ 103,675	$ 68,701	$ 232,299	$ 257,681

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities:
Net income	$ 218,255	$ 285,443
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and intangible assets amortization	62,197	42,216
Operating lease right-of-use assets expense	15,336	13,912
Deferred income tax benefit	(22,627)	(13,221)
Provision for bad debts	5,799	2,559
Stock-based compensation expense	103,256	84,784
Other	2,294	2,560
Changes in operating assets and liabilities:
Accounts receivable	62,184	(12,610)
Other receivables and current assets	12,735	37,773
Other long-term assets	(12,341)	(2,288)
Accounts payable, accrued expenses and current liabilities	(76,517)	(37,289)
Accrued income taxes	22,010	(2,547)
Deferred revenue	(29,978)	(35,807)
Other long-term liabilities	10,940	(5,000)
Net cash provided by operating activities	373,543	360,485
Cash flows from investing activities:
Acquisitions, net of cash acquired	(100,194)	(294,987)
Capital expenditures	(24,195)	(25,781)
Other investing activities	(6,201)	(12,680)
Net cash used in investing activities	(130,590)	(333,448)
Cash flows from financing activities:
Principal payments on long-term debt	(75,000)	0
Purchase of treasury stock	(161,029)	(59,116)
Restricted stock withholding taxes paid in lieu of issued shares	(66,774)	(37,936)
Proceeds from shares issued for stock-based compensation	26,957	28,633
Other financing activities	0	(1,617)
Net cash used in financing activities	(275,846)	(70,036)
Effect of exchange rate fluctuations on cash and cash equivalents	5,540	(1,456)
Net decrease in cash and cash equivalents	(27,353)	(44,455)
Cash and cash equivalents, beginning of period	872,094	777,139
Cash and cash equivalents, end of period	844,741	732,684
Supplemental disclosure of cash flow information:
Income taxes paid	35,576	73,561
Interest paid	$ 9,985	$ 356

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Treasury Stock	Accumulated Other Comprehensive (Loss)/Income
Beginning balance at Dec. 31, 2018	$ 2,649,547	$ 932	$ 867,462	$ 2,919,411	$ (1,075,879)	$ (62,379)
Beginning balance, shares at Dec. 31, 2018		93,236			9,602
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury shares acquired	(44,856)				$ (44,856)
Treasury shares acquired, shares					250
Stock-based compensation activity			(42,465)
Stock-based compensation activity	1,018				$ 43,483
Stock-based compensation activity, shares					(494)
Other comprehensive (loss) income	(7,558)					(7,558)
Net income	86,230			86,230
Ending balance at Mar. 31, 2019	2,684,381	$ 932	824,997	3,005,641	$ (1,077,252)	(69,937)
Ending balance, shares at Mar. 31, 2019		93,236			9,358
Beginning balance at Dec. 31, 2018	2,649,547	$ 932	867,462	2,919,411	$ (1,075,879)	(62,379)
Beginning balance, shares at Dec. 31, 2018		93,236			9,602
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury shares acquired	$ (59,116)
Treasury shares acquired, shares	330
Net income	$ 285,443
Ending balance at Sep. 30, 2019	2,923,324	$ 932	865,634	3,204,854	$ (1,057,955)	(90,141)
Ending balance, shares at Sep. 30, 2019		93,236			9,072
Beginning balance at Mar. 31, 2019	2,684,381	$ 932	824,997	3,005,641	$ (1,077,252)	(69,937)
Beginning balance, shares at Mar. 31, 2019		93,236			9,358
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury shares acquired	(14,260)				$ (14,260)
Treasury shares acquired, shares					80
Stock-based compensation activity			14,699
Stock-based compensation activity	36,857				$ 22,158
Stock-based compensation activity, shares					(241)
Other comprehensive (loss) income	558					558
Net income	109,750			109,750
Ending balance at Jun. 30, 2019	2,817,286	$ 932	839,696	3,115,391	$ (1,069,354)	(69,379)
Ending balance, shares at Jun. 30, 2019		93,236			9,197
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation activity			25,938
Stock-based compensation activity	37,337				$ 11,399
Stock-based compensation activity, shares					(125)
Other comprehensive (loss) income	(20,762)					(20,762)
Net income	89,463			89,463
Ending balance at Sep. 30, 2019	2,923,324	$ 932	865,634	3,204,854	$ (1,057,955)	(90,141)
Ending balance, shares at Sep. 30, 2019		93,236			9,072
Beginning balance at Dec. 31, 2019	3,453,379	$ 946	1,188,939	3,370,706	$ (1,041,831)	(65,381)
Beginning balance, shares at Dec. 31, 2019		94,628			8,893
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury shares acquired	(161,029)				$ (161,029)
Treasury shares acquired, shares					690
Stock-based compensation activity	(21,772)		(70,769)
Stock-based compensation activity					$ 48,997
Stock-based compensation activity, shares					(541)
Other comprehensive (loss) income	(24,292)					(24,292)
Net income	46,064			46,064
Ending balance at Mar. 31, 2020	3,292,350	$ 946	1,118,170	3,416,770	$ (1,153,863)	(89,673)
Ending balance, shares at Mar. 31, 2020		94,628			9,042
Beginning balance at Dec. 31, 2019	3,453,379	$ 946	1,188,939	3,370,706	$ (1,041,831)	(65,381)
Beginning balance, shares at Dec. 31, 2019		94,628			8,893
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury shares acquired	$ (161,029)
Treasury shares acquired, shares	690
Net income	$ 218,255
Ending balance at Sep. 30, 2020	3,589,613	$ 946	1,182,127	3,588,961	$ (1,131,084)	(51,337)
Ending balance, shares at Sep. 30, 2020		94,628			8,774
Beginning balance at Mar. 31, 2020	3,292,350	$ 946	1,118,170	3,416,770	$ (1,153,863)	(89,673)
Beginning balance, shares at Mar. 31, 2020		94,628			9,042
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Acquisition of Livermore Software Technology, LLC, amount	1,531		1,030		$ 501
Acquisition of Livermore Software Technology, LLC, shares					(6)
Stock-based compensation activity	37,315		24,993
Stock-based compensation activity					$ 12,322
Stock-based compensation activity, shares					(146)
Other comprehensive (loss) income	10,288					10,288
Net income	96,564			96,564
Ending balance at Jun. 30, 2020	3,438,048	$ 946	1,144,193	3,513,334	$ (1,141,040)	(79,385)
Ending balance, shares at Jun. 30, 2020		94,628			8,890
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation activity	47,890		37,934
Stock-based compensation activity					$ 9,956
Stock-based compensation activity, shares					(116)
Other comprehensive (loss) income	28,048					28,048
Net income	75,627			75,627
Ending balance at Sep. 30, 2020	$ 3,589,613	$ 946	$ 1,182,127	$ 3,588,961	$ (1,131,084)	$ (51,337)
Ending balance, shares at Sep. 30, 2020		94,628			8,774

Organization

Organization	9 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization ANSYS, Inc. (Ansys, we, us, our) develops and globally markets engineering simulation software and services widely used by engineers, designers, researchers and students across a broad spectrum of industries and academia, including aerospace and defense, automotive, electronics, semiconductors, energy, materials and chemical processing, turbomachinery, consumer products, healthcare, and sports. As defined by the accounting guidance for segment reporting, we operate as one segment. Given the integrated approach to the multi-discipline problem-solving needs of our customers, a single sale of software may contain components from multiple product areas and include combined technologies. We also have a multi-year product and integration strategy that will result in new, combined products or changes to the historical product offerings. As a result, it is impracticable for us to provide accurate historical or current reporting among our various product lines. We are closely monitoring the spread of COVID-19 and continually assessing its potential effects on our business. The COVID-19 pandemic has had, and is expected to continue to have, an adverse impact on our business, employees, liquidity, financial condition, results of operations and cash flows.

Accounting Policies

Accounting Policies	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Accounting Policies	Accounting Policies Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information for commercial and industrial companies, the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, the accompanying unaudited condensed consolidated financial statements do not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements (and notes thereto) included in our Annual Report on Form 10-K for the year ended December 31, 2019 (2019 Form 10-K). The condensed consolidated December 31, 2019 balance sheet presented is derived from the audited December 31, 2019 balance sheet included in the 2019 Form 10-K. In our opinion, all adjustments considered necessary for a fair presentation of the financial statements have been included, and all adjustments are of a normal and recurring nature. Certain items in the condensed consolidated financial statements of prior years have been reclassified to conform to the current year's presentation. These reclassifications had no effect on reported net income, comprehensive income, cash flows, total assets or total liabilities and stockholders' equity. Operating results for the three and nine months ended September 30, 2020 are not necessarily indicative of the results that may be expected for any future period. Changes in Accounting Policies Our accounting policies are described in Note 2, “Accounting Policies,” in the 2019 Form 10-K. Summarized below is the accounting guidance adopted subsequent to December 31, 2019. Credit losses: In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (ASU 2016-13), which modifies the measurement of expected credit losses of certain financial instruments. We adopted ASU 2016-13 on January 1, 2020 with no material impact to our condensed consolidated financial statements. Previous guidance required the allowance for doubtful accounts to be estimated based on an incurred loss model, which considered past and current conditions. ASU 2016-13 requires us to use an expected loss model that also considers reasonable and supportable forecasts of future conditions, referred to as the current expected credit loss (CECL) methodology. Under ASU 2016-13, we make judgments as to our ability to collect outstanding receivables and provide allowances for a portion of receivables over the lifetime of the receivables. Provisions are made based upon a specific review of all significant outstanding invoices from both value and delinquency perspectives. For those invoices not specifically reviewed, provisions are estimated at differing rates based upon the age of the receivable. In determining these percentages, we consider our historical loss experience, current economic trends and future conditions. The changes in the allowance for doubtful accounts during the nine months ended September 30, 2020 were as follows: (in thousands) Nine Months Ended September 30, 2020 Beginning balance – January 1 $ 8,700 Additions: Charges to costs and expenses 5,799 Deductions: Returns and write-offs (1,099) Ending balance – September 30 $ 13,400 The increase in the allowance for doubtful accounts was driven by expected losses related to COVID-19. Accounting Guidance Issued and Not Yet Adopted Income taxes: In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (ASU 2019-12), as part of its initiative to reduce complexity in the accounting standards. The amendments in ASU 2019-12 eliminate certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. ASU 2019-12 also clarifies and simplifies other aspects of the accounting for income taxes. ASU 2019-12 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. Early adoption is permitted, including adoption in any interim period. We do not expect the adoption of this guidance to have a material impact on our financial position or results of operations. Cash and Cash Equivalents Cash and cash equivalents consist primarily of highly liquid investments such as deposits held at major banks and money market funds. Cash equivalents are carried at cost, which approximates fair value. Our cash and cash equivalents balances comprise the following: September 30, 2020 December 31, 2019 (in thousands, except percentages) Amount % of Total Amount % of Total Cash accounts $ 536,778 63.5 $ 549,639 63.0 Money market funds 307,963 36.5 322,455 37.0 Total $ 844,741 $ 872,094 Our money market fund balances are held in various funds of two issuers.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	9 Months Ended
	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	Revenue from Contracts with Customers Disaggregation of Revenue The following table summarizes revenue: Three Months Ended Nine Months Ended (in thousands, except percentages) September 30, September 30, September 30, September 30, Revenue: Lease licenses $ 78,917 $ 70,693 $ 237,000 $ 239,953 Perpetual licenses 62,705 66,451 161,793 190,734 Software licenses 141,622 137,144 398,793 430,687 Maintenance 211,942 193,189 615,609 559,768 Service 13,401 13,566 43,209 39,209 Maintenance and service 225,343 206,755 658,818 598,977 Total revenue $ 366,965 $ 343,899 $ 1,057,611 $ 1,029,664 Direct revenue, as a percentage of total revenue 74.9 % 76.8 % 75.7 % 75.9 % Indirect revenue, as a percentage of total revenue 25.1 % 23.2 % 24.3 % 24.1 % Our software licenses revenue is recognized up front, while maintenance and service revenue is generally recognized over the term of the contract. Deferred Revenue Deferred revenue consists of billings made or payments received in advance of revenue recognition from customer agreements. The timing of revenue recognition may differ from the timing of billings to customers. Payment terms vary by the type and location of customer and the products or services offered. The time between invoicing and when payment is due is not significant. The changes in deferred revenue, inclusive of both current and long-term deferred revenue, during the nine months ended September 30, 2020 and 2019 were as follows: (in thousands) 2020 2019 Beginning balance – January 1 $ 365,274 $ 343,174 Acquired deferred revenue 1,405 3,266 Deferral of revenue 1,025,057 991,524 Recognition of revenue (1,057,611) (1,029,664) Currency translation 4,307 (4,985) Ending balance – September 30 $ 338,432 $ 303,315 Total revenue allocated to remaining performance obligations as of September 30, 2020 will be recognized as revenue as follows: (in thousands) Next 12 months $ 570,236 Months 13-24 180,873 Months 25-36 61,069 Thereafter 67,734 Total revenue allocated to remaining performance obligations $ 879,912 Revenue allocated to remaining performance obligations represents contracted revenue that has not yet been recognized, which includes both deferred revenue and backlog. Our backlog represents installment billings for periods beyond the current quarterly billing cycle. Revenue recognized during the nine months ended September 30, 2020 and 2019 included amounts in deferred revenue and backlog at the beginning of the period of $465.5 million and $409.1 million, respectively.

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2020
Business Combinations [Abstract]
Acquisitions	Acquisitions On April 1, 2020, we acquired 100% of the shares of Lumerical Inc. (Lumerical), a leading developer of photonic design and simulation tools, for a purchase price of approximately $107.5 million, paid in cash. The acquisition adds best-in-class photonic products to our multiphysics portfolio, providing customers with a full set of solutions to solve their next-generation product challenges. The assets and liabilities of Lumerical have been recorded based upon management's estimates of their fair market values as of the acquisition date. The following tables summarize the fair value of consideration transferred and the fair values of identified assets acquired and liabilities assumed at the acquisition date: Fair Value of Consideration Transferred: (in thousands) Cash $ 107,545 Recognized Amounts of Identifiable Assets Acquired and Liabilities Assumed: (in thousands) Cash $ 11,844 Accounts receivable and other tangible assets 4,244 Developed software and core technologies 31,614 Customer lists 1,616 Trade names 1,756 Accounts payable and other liabilities (1,106) Deferred revenue (1,405) Net deferred tax liabilities (7,452) Total identifiable net assets $ 41,111 Goodwill $ 66,434 The goodwill, which is not tax-deductible, is attributed to intangible assets that do not qualify for separate recognition, including the assembled workforce of the acquired business and the synergies expected to arise as a result of the acquisition of Lumerical. The fair values of the assets acquired and liabilities assumed are based on preliminary calculations. The estimates and assumptions for these items are subject to change as additional information about what was known and knowable at the acquisition date is obtained during the measurement period (up to one year from the acquisition date). We determined the fair value of our intangible assets using various valuation techniques, including the relief-from-royalty method and the multi-period excess earnings method. These models utilize certain unobservable inputs classified as Level 3 measurements as defined by ASC 820, Fair Value Measurements and Disclosures . The determination of fair value requires considerable judgment and is sensitive to changes in underlying assumptions, estimates and market factors. Estimating fair value requires us to make assumptions and estimates regarding our future plans, as well as industry and economic conditions. These assumptions and estimates include, but are not limited to: royalty rate, discount rate and attrition rate. The valuation method and assumptions used to determine the fair value of the intangible assets acquired with the Lumerical acquisition are as follows: Intangible Asset Useful Life Valuation Method Assumptions Developed software and core technologies 10 years Multi-period excess earnings Discount rate: 16.5% Trade names 6 years Relief-from-royalty Royalty rate: 2.0% Discount rate: 16.5% Customer lists 10 years Multi-period excess earnings Attrition rate: 10.0% Discount rate: 12.5% The operating results of Lumerical have been included in our condensed consolidated financial statements since the date of acquisition. The effects of the business combination were not material to our consolidated results of operations. On November 1, 2019, we completed the acquisition of 100% of the shares of Livermore Software Technology (LST), the premier provider of explicit dynamics and other advanced finite element analysis technology, for a purchase price of $781.5 million, inclusive of final net working capital adjustments. The acquisition empowers our customers to solve a new class of engineering challenges, including developing safer automobiles, aircraft and trains while reducing or even eliminating the need for costly physical testing. The purchase price was paid with $472.8 million in cash and 1.4 million shares of our common stock valued at $308.7 million. We issued $307.2 million of common stock in an unregistered offering to the prior owners of LST and the remaining $1.5 million was issued from shares held in treasury. On February 1, 2019, we completed the acquisition of 100% of the shares of Granta Design Limited (Granta Design) for a purchase price of $208.7 million, paid in cash and inclusive of final net working capital adjustments. The acquisition of Granta Design, the premier provider of materials information technology, expands our portfolio into this important area, giving customers access to materials intelligence, including data that is critical to successful simulations. Additionally, during the year ended December 31, 2019, we acquired DYNARDO GmbH, Helic, Inc. (Helic) and DfR Solutions to combine the acquired technologies with our existing comprehensive multiphysics portfolio. These acquisitions were not individually significant. The combined purchase price of these other acquisitions wa s $138.6 million , paid in cash and inclusive of final net working capital adjustments. The operating results of each 2019 acquisition have been included in our condensed consolidated financial statements since each respective date of acquisition.

Other Receivables and Current A

Other Receivables and Current Assets, Other Accrued Expenses and Liabilities, and Other Long-Term Liabilities	9 Months Ended
	Sep. 30, 2020
Other Receivables and Current Assets, Other Accrued Expenses and Liabilities, and Other Long-Term Liabilities [Abstract]
Other Receivables and Current Assets, Other Accrued Expenses and Liabilities, and Other Long-Term Liabilities	Other Receivables and Current Assets, Other Accrued Expenses and Liabilities, and Other Long-Term Liabilities Our other receivables and current assets, other accrued expenses and liabilities, and other long-term liabilities comprise the following balances: (in thousands) September 30, December 31, Receivables related to unrecognized revenue $ 145,097 $ 177,679 Income taxes receivable, including overpayments and refunds 53,156 26,672 Prepaid expenses and other current assets 43,907 45,268 Total other receivables and current assets $ 242,160 $ 249,619 Accrued vacation 32,866 24,336 Consumption, VAT and sales tax liabilities 23,814 36,398 Accrued expenses and other current liabilities 86,176 82,213 Total other accrued expenses and liabilities $ 142,856 $ 142,947 Uncertain tax positions $ 69,906 $ 64,375 Other long-term liabilities 35,500 32,051 Total other long-term liabilities $ 105,406 $ 96,426 Receivables related to unrecognized revenue represent the current portion of billings made for customer contracts that have not yet been recognized as revenue.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic earnings per share (EPS) amounts are computed by dividing earnings by the weighted average number of common shares outstanding during the period. Diluted EPS amounts assume the issuance of common stock for all potentially dilutive equivalents outstanding. To the extent stock awards are anti-dilutive, they are excluded from the calculation of diluted EPS. The details of basic and diluted EPS are as follows: Three Months Ended Nine Months Ended (in thousands, except per share data) September 30, September 30, September 30, September 30, Net income $ 75,627 $ 89,463 $ 218,255 $ 285,443 Weighted average shares outstanding – basic 85,798 84,109 85,749 83,951 Dilutive effect of stock plans 1,426 1,624 1,427 1,619 Weighted average shares outstanding – diluted 87,224 85,733 87,176 85,570 Basic earnings per share $ 0.88 $ 1.06 $ 2.55 $ 3.40 Diluted earnings per share $ 0.87 $ 1.04 $ 2.50 $ 3.34 Anti-dilutive shares 30 25 28 8

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets Intangible assets are classified as follows: September 30, 2020 December 31, 2019 (in thousands) Gross Accumulated Gross Accumulated Finite-lived intangible assets: Developed software and core technologies $ 670,429 $ (359,230) $ 635,063 $ (332,622) Customer lists and contract backlog 262,744 (135,148) 269,629 (132,596) Trade names 156,517 (120,884) 154,259 (117,379) Total $ 1,089,690 $ (615,262) $ 1,058,951 $ (582,597) Indefinite-lived intangible asset: Trade name $ 357 $ 357 Finite-lived intangible assets are amortized over their estimated useful lives of two years to seventeen years. Amortization expense for the intangible assets reflected above was $14.1 million and $8.5 million for the three months ended September 30, 2020 and 2019, respectively. Amortization expense for the intangible assets reflected above was $41.8 million and $25.4 million for the nine months ended September 30, 2020 and 2019, respectively. As of September 30, 2020, estimated future amortization expense for the intangible assets reflected above was as follows: (in thousands) Remainder of 2020 $ 13,900 2021 55,846 2022 56,888 2023 56,534 2024 55,051 2025 51,314 Thereafter 184,895 Total intangible assets subject to amortization 474,428 Indefinite-lived trade name 357 Other intangible assets, net $ 474,785 The changes in goodwill during the nine months ended September 30, 2020 and 2019 were as follows: (in thousands) 2020 2019 Beginning balance – January 1 $ 2,413,280 $ 1,572,455 Acquisitions and adjustments (1) 69,598 219,009 Currency translation 8,712 (19,602) Ending balance – September 30 $ 2,491,590 $ 1,771,862 (1) In accordance with the accounting for business combinations, we recorded adjustments to goodwill for the effect of changes in the provisional fair values of the assets acquired and liabilities assumed during the measurement period (up to one year from the acquisition date) as we obtained new information about facts and circumstances that existed as of the acquisition date that, if known, would have affected the measurement of the amounts recognized as of that date. Such adjustments are not material to our consolidated financial statements. During the first quarter of 2020, we completed the annual impairment test for goodwill and the indefinite-lived intangible asset and determined that these assets had not been impaired as of the test date, January 1, 2020. Given the adverse economic and market conditions caused by COVID-19, we considered a variety of qualitative factors to determine if an additional quantitative impairment test was required subsequent to our annual impairment test. Based on a variety of factors, including the excess of the fair values over the carrying amounts in the most recent impairment test, we determined it was not more likely than not that an impairment existed as of March 31, 2020. No other events or circumstances changed during the nine months ended September 30, 2020 that would indicate that the fair values of our reporting unit and indefinite-lived intangible asset are below their carrying amounts.

Fair Value Measurement

Fair Value Measurement	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurement	Fair Value Measurement The valuation hierarchy for disclosure of assets and liabilities reported at fair value prioritizes the inputs for such valuations into three broad levels: • Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities; • Level 2: quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument; or • Level 3: unobservable inputs based on our own assumptions used to measure assets and liabilities at fair value. A financial asset's or liability's classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. Our current and long-term debt is classified within Level 2 of the fair value hierarchy because these borrowings are not actively traded and have a variable interest rate structure based upon market rates. The carrying amount of our current and long-term debt approximates the estimated fair value. See Note 10, “Debt”, for additional information on these borrowings. The following tables provide the assets carried at fair value and measured on a recurring basis: Fair Value Measurements at Reporting Date Using: (in thousands) September 30, Quoted Prices in Significant Other Significant Assets Cash equivalents $ 307,963 $ 307,963 $ — $ — Short-term investments $ 468 $ — $ 468 $ — Deferred compensation plan investments $ 1,602 $ 1,602 $ — $ — Fair Value Measurements at Reporting Date Using: (in thousands) December 31, 2019 Quoted Prices in Significant Other Significant Assets Cash equivalents $ 322,455 $ 322,455 $ — $ — Short-term investments $ 288 $ — $ 288 $ — Deferred compensation plan investments $ 1,110 $ 1,110 $ — $ — The cash equivalents in the preceding tables represent money market funds, valued at net asset value, with carrying values which approximate their fair values because of their short-term nature. The short-term investments in the preceding tables represent deposits held by certain foreign subsidiaries. The deposits have fixed interest rates with original maturities ranging from three months to one year. The deferred compensation plan investments in the preceding tables represent trading securities held in a rabbi trust for the benefit of non-employee directors who elected to diversify their vested deferred stock awards. These securities consist of mutual funds traded in an active market with quoted prices. As a result, the plan assets are classified as Level 1 in the fair value hierarchy. The plan assets are recorded within other long-term assets on our condensed consolidated balance sheets.

Leases

Leases	9 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Leases	LeasesWe primarily have operating leases for office space included in our right-of-use (ROU) assets and lease liabilities. Our executive offices and those related to certain domestic product development, marketing, production and administration are located in a 186,000 square foot office facility in Canonsburg, Pennsylvania. The term of the lease is 183 months, which began on October 1, 2014 and expires on December 31, 2029. The lease agreement includes options to renew the contract through August 2044, an option to lease additional space in January 2025 and an option to terminate the lease in December 2025. No options are included in the lease liability as renewal is not reasonably certain. In addition, we are reasonably certain we will not terminate the lease agreement. Absent the exercise of options in the lease, our remaining base rent (inclusive of property taxes and certain operating costs) is $4.5 million per annum through 2024 and $4.7 million per annum for 2025 - 2029. The components of our global lease cost reflected in the condensed consolidated statements of income are as follows: Three Months Ended Nine Months Ended (in thousands) September 30, September 30, September 30, September 30, Lease liability cost $ 6,206 $ 5,684 $ 18,704 $ 16,579 Variable lease cost not included in the lease liability (1) 1,033 1,126 3,354 2,847 Total lease cost $ 7,239 $ 6,810 $ 22,058 $ 19,426 (1) Variable lease cost includes common area maintenance, property taxes, utilities and fluctuations in rent due to a change in an index or rate. Other information related to operating leases is as follows: Three Months Ended Nine Months Ended (in thousands) September 30, September 30, September 30, September 30, Cash paid for amounts included in the measurement of the lease liability: Operating cash flows from operating leases $ (5,921) $ (5,242) $ (17,322) $ (14,551) Right-of-use assets obtained in exchange for new operating lease liabilities 1,076 6,155 21,319 29,262 As of September 30, 2020 2019 Weighted-average remaining lease term of operating leases 7.5 years 7.8 years Weighted-average discount rate of operating leases 3.3 % 3.7 % The maturity schedule of the operating lease liabilities as of September 30, 2020 is as follows: (in thousands) Remainder of 2020 $ 6,467 2021 23,349 2022 20,424 2023 15,516 2024 14,661 Thereafter 58,798 Total future lease payments 139,215 Less: Present value adjustment (17,101) Present value of future lease payments (1) $ 122,114 (1) Includes the current portion of operating lease liabilities of $20.2 million, which is reflected in other accrued expenses and liabilities in the condensed consolidated balance sheets. There were no material leases that have been signed but not yet commenced as of September 30, 2020.

Debt

Debt	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Debt	Debt In February 2019, we entered into a credit agreement for a $500.0 million unsecured revolving credit facility, which includes a $50.0 million sublimit for the issuance of letters of credit (Revolving Credit Facility), with Bank of America, N.A. as the Administrative Agent. The Revolving Credit Facility becomes payable in full on February 22, 2024 and is available for general corporate purposes, including, among others, to finance acquisitions and capital expenditures. In connection with the acquisition of LST, we amended our credit agreement (Amended Credit Agreement) on October 16, 2019. The amendment provided for a new $500.0 million unsecured term loan facility to finance the acquisition. The term loan was funded on November 1, 2019 and matures on November 1, 2024. Principal on the term loan will be payable on the last business day of each fiscal quarter commencing with the ninth full fiscal quarter after the funding date at a rate of 1.25% per quarter, increasing to 2.50% per quarter after the next four fiscal quarters. We repaid $75.0 million of the unsecured term loan balance in January 2020 prior to the scheduled maturity dates in 2022 ($25.0 million) and 2023 ($50.0 million). Borrowings under the Amended Credit Agreement accrue interest at the Eurodollar rate plus an applicable margin or at the base rate, at our election. For the quarter ended September 30, 2020, we elected to apply the Eurodollar rate. The base rate is the applicable margin plus the highest of (i) the federal funds rate plus 0.500%, (ii) the Bank of America prime rate and (iii) the Eurodollar rate plus 1.000%. The applicable margin for these borrowings is a percentage per annum based on the lower of (1) a pricing level determined by our then-current consolidated leverage ratio and (2) a pricing level determined by our debt ratings (if such debt ratings exist). This results in a margin ranging from 1.125% to 1.750% and 0.125% to 0.750% for the Eurodollar rate and base rate, respecti vely. The weighted-average interest rates in effect during the three and nine months ended September 30, 2020 were 1.43% and 2.33%, respectively. As of September 30, 2020, the rate in effect was 1.35%. The Amended Credit Agreement contains language in the event the Eurodollar rate is not available due to LIBOR changes. If this occurs, the base rate will be used for borrowings. However, we may work with the Administrative Agent to amend the agreement to replace the Eurodollar rate with (i) one or more rates based on the Secured Overnight Financing Rate (SOFR); or (ii) another alternative benchmark rate, subject to the lenders' approval. The Amended Credit Agreement contains customary representations and warranties, affirmative and negative covenants and events of default. The Amended Credit Agreement also contains a financial covenant requiring us to maintain a consolidated leverage ratio of indebtedness to earnings before interest, taxes, depreciation and amortization not exceeding 3.50 to 1.00 as of the end of any fiscal quarter (for the four-quarter period ending on such date) with an opportunity for a temporary increase in such consolidated leverage ratio to 4.00 to 1.00 upon the consummation of certain qualified acquisitions for which the aggregate consideration is at least $250.0 million. As of September 30, 2020 and December 31, 2019, there were no outstanding borrowings under the unsecured Revolving Credit Facility, and the carrying value of the term loan was $423.8 million, which is net of $1.2 million of unamortized debt issuance costs, and $498.5 million, which is net of $1.5 million of unamortized debt issuance costs, respectively. The next principal payment on the term loan is not required until 2024. We were in compliance with all covenants as of September 30, 2020 and December 31, 2019. We anticipate obtaining new debt financing to fund a significant portion of the cash component of the purchase price of the AGI acquisition. See Note 16, Subsequent Event, for information on our definitive agreement to acquire AGI.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Our income before income tax provision, income tax provision and effective tax rates were as follows: Three Months Ended Nine Months Ended (in thousands, except percentages) September 30, September 30, September 30, September 30, Income before income tax provision $ 90,144 $ 108,829 $ 236,053 $ 337,436 Income tax provision 14,517 19,366 17,798 51,993 Effective tax rate 16.1 % 17.8 % 7.5 % 15.4 % Tax expense during the nine months ended September 30, 2020 benefited from increased stock compensation benefits, many of which were recognized discretely in the first quarter.

Stock Repurchase Program

Stock Repurchase Program	9 Months Ended
	Sep. 30, 2020
Class of Stock Disclosures [Abstract]
Stock Repurchase Program	Stock Repurchase Program Under our stock repurchase program, we repurchased shares as follows: Nine Months Ended (in thousands, except per share data) September 30, September 30, Number of shares repurchased 690 330 Average price paid per share $ 233.48 $ 179.41 Total cost $ 161,029 $ 59,116

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation Total stock-based compensation expense and its net impact on basic and diluted earnings per share are as follows: Three Months Ended Nine Months Ended (in thousands, except per share data) September 30, September 30, September 30, September 30, Cost of sales: Maintenance and service $ 3,626 $ 2,422 $ 9,956 $ 6,024 Operating expenses: Selling, general and administrative 18,954 16,774 50,417 44,408 Research and development 15,605 12,666 42,883 34,352 Stock-based compensation expense before taxes 38,185 31,862 103,256 84,784 Related income tax benefits (10,060) (9,847) (46,849) (30,075) Stock-based compensation expense, net of taxes $ 28,125 $ 22,015 $ 56,407 $ 54,709 Net impact on earnings per share: Basic earnings per share $ (0.33) $ (0.26) $ (0.66) $ (0.65) Diluted earnings per share $ (0.32) $ (0.26) $ (0.65) $ (0.64)

Geographic Information

Geographic Information	9 Months Ended
	Sep. 30, 2020
Segments, Geographical Areas [Abstract]
Geographic Information	Geographic Information Revenue to external customers is attributed to individual countries based upon the location of the customer. Revenue by geographic area is as follows: Three Months Ended Nine Months Ended (in thousands) September 30, September 30, September 30, September 30, United States $ 156,663 $ 146,761 $ 465,919 $ 425,212 Japan 40,565 35,749 133,773 116,364 Germany 27,677 37,541 85,048 93,847 South Korea 21,083 16,902 54,105 72,833 United Kingdom 26,595 9,619 46,334 32,007 France 14,930 17,226 44,220 46,825 China 17,414 18,057 42,016 43,904 Other Europe, Middle East and Africa (EMEA) 37,314 35,241 107,678 110,330 Other international 24,724 26,803 78,518 88,342 Total revenue $ 366,965 $ 343,899 $ 1,057,611 $ 1,029,664 Property and equipment by geographic area is as follows: (in thousands) September 30, December 31, United States $ 61,899 $ 59,473 India 6,670 5,660 France 5,647 3,657 Germany 4,802 4,237 United Kingdom 3,589 4,194 Other EMEA 1,932 1,875 Other international 5,760 4,540 Total property and equipment, net $ 90,299 $ 83,636

Contingencies and Commitments

Contingencies and Commitments	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Contingencies and Commitments	Contingencies and Commitments We are subject to various investigations, claims and legal proceedings that arise in the ordinary course of business, including commercial disputes, labor and employment matters, tax audits, alleged infringement of intellectual property rights and other matters. In our opinion, the resolution of pending matters is not expected to have a material adverse effect on our condensed consolidated results of operations, cash flows or financial position. However, each of these matters is subject to various uncertainties and it is possible that an unfavorable resolution of one or more of these proceedings could materially affect our results of operations, cash flows or financial position. Our Indian subsidiary has several service tax audits pending that have resulted in formal inquiries being received on transactions through mid-2012. We could incur tax charges and related liabilities of approximately $7.2 million. As such charges are not probable at this time, a reserve has not been recorded on the condensed consolidated balance sheet as of September 30, 2020. The service tax issues raised in our notices and inquiries are very similar to the case, M/s Microsoft Corporation (I) (P) Ltd. Vs. Commissioner of Service Tax, New Delhi, wherein the Delhi Customs, Excise and Service Tax Appellate Tribunal (CESTAT) issued a favorable ruling to Microsoft. The Microsoft ruling was subsequently challenged in the Supreme Court by the Indian tax authority and a decision is still pending. We can provide no assurances on the impact that the present Microsoft case’s decision will have on our cases, however, an unfavorable ruling in the Microsoft case may result in a charge of $7.2 million. We are uncertain as to when these service tax matters will be concluded. We sell software licenses and services to our customers under contractual agreements. Such agreements generally include certain provisions indemnifying the customer against claims of intellectual property infringement or non-compliance to contractual terms and conditions by third parties arising from such customer’s usage of our products or services. To date, payments related to these indemnification provisions have been immaterial. For several reasons, including the lack of prior material indemnification claims, we cannot determine the maximum amount of potential future payments, if any, related to such indemnification provisions.

Subsequent Event

Subsequent Event	9 Months Ended
	Sep. 30, 2020
Subsequent Events [Abstract]
Subsequent Event	Subsequent EventOn October 23, 2020, we entered into a definitive agreement to acquire 100% of the shares of AGI, a premier provider of mission-simulation, modeling, testing and analysis software for aerospace, defense and intelligence applications. Once closed, the acquisition will expand the scope of our offerings, empowering users to solve challenges by simulating from the chip level all the way to a customer's entire mission. The transaction is expected to close with a purchase price of $700.0 million, of which the AGI shareholders will receive 67% in cash and 33% in Ansys common stock. We anticipate obtaining new debt financing to fund a significant portion of the cash component of the purchase price.

Accounting Policies (Policies)

Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information for commercial and industrial companies, the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, the accompanying unaudited condensed consolidated financial statements do not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements (and notes thereto) included in our Annual Report on Form 10-K for the year ended December 31, 2019 (2019 Form 10-K). The condensed consolidated December 31, 2019 balance sheet presented is derived from the audited December 31, 2019 balance sheet included in the 2019 Form 10-K. In our opinion, all adjustments considered necessary for a fair presentation of the financial statements have been included, and all adjustments are of a normal and recurring nature. Certain items in the condensed consolidated financial statements of prior years have been reclassified to conform to the current year's presentation. These reclassifications had no effect on reported net income, comprehensive income, cash flows, total assets or total liabilities and stockholders' equity. Operating results for the three and nine months ended September 30, 2020 are not necessarily indicative of the results that may be expected for any future period.
Changes in Accounting Policies	Changes in Accounting Policies Our accounting policies are described in Note 2, “Accounting Policies,” in the 2019 Form 10-K. Summarized below is the accounting guidance adopted subsequent to December 31, 2019. Credit losses: In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (ASU 2016-13), which modifies the measurement of expected credit losses of certain financial instruments. We adopted ASU 2016-13 on January 1, 2020 with no material impact to our condensed consolidated financial statements. Previous guidance required the allowance for doubtful accounts to be estimated based on an incurred loss model, which considered past and current conditions. ASU 2016-13 requires us to use an expected loss model that also considers reasonable and supportable forecasts of future conditions, referred to as the current expected credit loss (CECL) methodology. Under ASU 2016-13, we make judgments as to our ability to collect outstanding receivables and provide allowances for a portion of receivables over the lifetime of the receivables. Provisions are made based upon a specific review of all significant outstanding invoices from both value and delinquency perspectives. For those invoices not specifically reviewed, provisions are estimated at differing rates based upon the age of the receivable. In determining these percentages, we consider our historical loss experience, current economic trends and future conditions. The changes in the allowance for doubtful accounts during the nine months ended September 30, 2020 were as follows: (in thousands) Nine Months Ended September 30, 2020 Beginning balance – January 1 $ 8,700 Additions: Charges to costs and expenses 5,799 Deductions: Returns and write-offs (1,099) Ending balance – September 30 $ 13,400 The increase in the allowance for doubtful accounts was driven by expected losses related to COVID-19.
Accounting Guidance Issued and Not Yet Adopted	Accounting Guidance Issued and Not Yet Adopted Income taxes: In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (ASU 2019-12), as part of its initiative to reduce complexity in the accounting standards. The amendments in ASU 2019-12 eliminate certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. ASU 2019-12 also clarifies and simplifies other aspects of the accounting for income taxes. ASU 2019-12 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. Early adoption is permitted, including adoption in any interim period. We do not expect the adoption of this guidance to have a material impact on our financial position or results of operations.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents consist primarily of highly liquid investments such as deposits held at major banks and money market funds. Cash equivalents are carried at cost, which approximates fair value. Our cash and cash equivalents balances comprise the following: September 30, 2020 December 31, 2019 (in thousands, except percentages) Amount % of Total Amount % of Total Cash accounts $ 536,778 63.5 $ 549,639 63.0 Money market funds 307,963 36.5 322,455 37.0 Total $ 844,741 $ 872,094 Our money market fund balances are held in various funds of two issuers.

Accounting Policies (Tables)

Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Allowance for Doubtful Accounts Rollforward	The changes in the allowance for doubtful accounts during the nine months ended September 30, 2020 were as follows: (in thousands) Nine Months Ended September 30, 2020 Beginning balance – January 1 $ 8,700 Additions: Charges to costs and expenses 5,799 Deductions: Returns and write-offs (1,099) Ending balance – September 30 $ 13,400
Cash and Cash Equivalents	Our cash and cash equivalents balances comprise the following: September 30, 2020 December 31, 2019 (in thousands, except percentages) Amount % of Total Amount % of Total Cash accounts $ 536,778 63.5 $ 549,639 63.0 Money market funds 307,963 36.5 322,455 37.0 Total $ 844,741 $ 872,094

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	9 Months Ended
	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table summarizes revenue: Three Months Ended Nine Months Ended (in thousands, except percentages) September 30, September 30, September 30, September 30, Revenue: Lease licenses $ 78,917 $ 70,693 $ 237,000 $ 239,953 Perpetual licenses 62,705 66,451 161,793 190,734 Software licenses 141,622 137,144 398,793 430,687 Maintenance 211,942 193,189 615,609 559,768 Service 13,401 13,566 43,209 39,209 Maintenance and service 225,343 206,755 658,818 598,977 Total revenue $ 366,965 $ 343,899 $ 1,057,611 $ 1,029,664 Direct revenue, as a percentage of total revenue 74.9 % 76.8 % 75.7 % 75.9 % Indirect revenue, as a percentage of total revenue 25.1 % 23.2 % 24.3 % 24.1 %
Changes in Deferred Revenue	The changes in deferred revenue, inclusive of both current and long-term deferred revenue, during the nine months ended September 30, 2020 and 2019 were as follows: (in thousands) 2020 2019 Beginning balance – January 1 $ 365,274 $ 343,174 Acquired deferred revenue 1,405 3,266 Deferral of revenue 1,025,057 991,524 Recognition of revenue (1,057,611) (1,029,664) Currency translation 4,307 (4,985) Ending balance – September 30 $ 338,432 $ 303,315
Remaining Performance Obligations, Expected Timing of Satisfaction	Total revenue allocated to remaining performance obligations as of September 30, 2020 will be recognized as revenue as follows: (in thousands) Next 12 months $ 570,236 Months 13-24 180,873 Months 25-36 61,069 Thereafter 67,734 Total revenue allocated to remaining performance obligations $ 879,912

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2020
Business Combinations [Abstract]
Fair Value of Consideration Transferred	Fair Value of Consideration Transferred: (in thousands) Cash $ 107,545
Schedule of Recognized Amounts of Identified Assets Acquired and Liabilities Assumed	Recognized Amounts of Identifiable Assets Acquired and Liabilities Assumed: (in thousands) Cash $ 11,844 Accounts receivable and other tangible assets 4,244 Developed software and core technologies 31,614 Customer lists 1,616 Trade names 1,756 Accounts payable and other liabilities (1,106) Deferred revenue (1,405) Net deferred tax liabilities (7,452) Total identifiable net assets $ 41,111 Goodwill $ 66,434

Other Receivables and Current_2

Other Receivables and Current Assets, Other Accrued Expenses and Liabilities, and Other Long-Term Liabilities (Tables)	9 Months Ended
	Sep. 30, 2020
Other Receivables and Current Assets, Other Accrued Expenses and Liabilities, and Other Long-Term Liabilities [Abstract]
Schedule of Other Receivables and Current Assets, Other Accrued Expenses and Liabilities, and Other Long-Term Liabilities	Our other receivables and current assets, other accrued expenses and liabilities, and other long-term liabilities comprise the following balances: (in thousands) September 30, December 31, Receivables related to unrecognized revenue $ 145,097 $ 177,679 Income taxes receivable, including overpayments and refunds 53,156 26,672 Prepaid expenses and other current assets 43,907 45,268 Total other receivables and current assets $ 242,160 $ 249,619 Accrued vacation 32,866 24,336 Consumption, VAT and sales tax liabilities 23,814 36,398 Accrued expenses and other current liabilities 86,176 82,213 Total other accrued expenses and liabilities $ 142,856 $ 142,947 Uncertain tax positions $ 69,906 $ 64,375 Other long-term liabilities 35,500 32,051 Total other long-term liabilities $ 105,406 $ 96,426

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Details of Basic and Diluted EPS	The details of basic and diluted EPS are as follows: Three Months Ended Nine Months Ended (in thousands, except per share data) September 30, September 30, September 30, September 30, Net income $ 75,627 $ 89,463 $ 218,255 $ 285,443 Weighted average shares outstanding – basic 85,798 84,109 85,749 83,951 Dilutive effect of stock plans 1,426 1,624 1,427 1,619 Weighted average shares outstanding – diluted 87,224 85,733 87,176 85,570 Basic earnings per share $ 0.88 $ 1.06 $ 2.55 $ 3.40 Diluted earnings per share $ 0.87 $ 1.04 $ 2.50 $ 3.34 Anti-dilutive shares 30 25 28 8

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets (Indefinite-Lived)	Intangible assets are classified as follows: September 30, 2020 December 31, 2019 (in thousands) Gross Accumulated Gross Accumulated Finite-lived intangible assets: Developed software and core technologies $ 670,429 $ (359,230) $ 635,063 $ (332,622) Customer lists and contract backlog 262,744 (135,148) 269,629 (132,596) Trade names 156,517 (120,884) 154,259 (117,379) Total $ 1,089,690 $ (615,262) $ 1,058,951 $ (582,597) Indefinite-lived intangible asset: Trade name $ 357 $ 357
Intangible Assets (Finite-Lived)	Intangible assets are classified as follows: September 30, 2020 December 31, 2019 (in thousands) Gross Accumulated Gross Accumulated Finite-lived intangible assets: Developed software and core technologies $ 670,429 $ (359,230) $ 635,063 $ (332,622) Customer lists and contract backlog 262,744 (135,148) 269,629 (132,596) Trade names 156,517 (120,884) 154,259 (117,379) Total $ 1,089,690 $ (615,262) $ 1,058,951 $ (582,597) Indefinite-lived intangible asset: Trade name $ 357 $ 357
Estimated Future Amortization Expense for Intangible Assets	As of September 30, 2020, estimated future amortization expense for the intangible assets reflected above was as follows: (in thousands) Remainder of 2020 $ 13,900 2021 55,846 2022 56,888 2023 56,534 2024 55,051 2025 51,314 Thereafter 184,895 Total intangible assets subject to amortization 474,428 Indefinite-lived trade name 357 Other intangible assets, net $ 474,785
Changes in Goodwill	The changes in goodwill during the nine months ended September 30, 2020 and 2019 were as follows: (in thousands) 2020 2019 Beginning balance – January 1 $ 2,413,280 $ 1,572,455 Acquisitions and adjustments (1) 69,598 219,009 Currency translation 8,712 (19,602) Ending balance – September 30 $ 2,491,590 $ 1,771,862

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value of Assets and Liabilities Measured on Recurring Basis	The following tables provide the assets carried at fair value and measured on a recurring basis: Fair Value Measurements at Reporting Date Using: (in thousands) September 30, Quoted Prices in Significant Other Significant Assets Cash equivalents $ 307,963 $ 307,963 $ — $ — Short-term investments $ 468 $ — $ 468 $ — Deferred compensation plan investments $ 1,602 $ 1,602 $ — $ — Fair Value Measurements at Reporting Date Using: (in thousands) December 31, 2019 Quoted Prices in Significant Other Significant Assets Cash equivalents $ 322,455 $ 322,455 $ — $ — Short-term investments $ 288 $ — $ 288 $ — Deferred compensation plan investments $ 1,110 $ 1,110 $ — $ —

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Schedule of Lease Cost	The components of our global lease cost reflected in the condensed consolidated statements of income are as follows: Three Months Ended Nine Months Ended (in thousands) September 30, September 30, September 30, September 30, Lease liability cost $ 6,206 $ 5,684 $ 18,704 $ 16,579 Variable lease cost not included in the lease liability (1) 1,033 1,126 3,354 2,847 Total lease cost $ 7,239 $ 6,810 $ 22,058 $ 19,426 (1) Variable lease cost includes common area maintenance, property taxes, utilities and fluctuations in rent due to a change in an index or rate.
Lessee, Operating Lease Other Information	Other information related to operating leases is as follows: Three Months Ended Nine Months Ended (in thousands) September 30, September 30, September 30, September 30, Cash paid for amounts included in the measurement of the lease liability: Operating cash flows from operating leases $ (5,921) $ (5,242) $ (17,322) $ (14,551) Right-of-use assets obtained in exchange for new operating lease liabilities 1,076 6,155 21,319 29,262 As of September 30, 2020 2019 Weighted-average remaining lease term of operating leases 7.5 years 7.8 years Weighted-average discount rate of operating leases 3.3 % 3.7 %
Schedule of Maturity of Operating Lease Liabilities	The maturity schedule of the operating lease liabilities as of September 30, 2020 is as follows: (in thousands) Remainder of 2020 $ 6,467 2021 23,349 2022 20,424 2023 15,516 2024 14,661 Thereafter 58,798 Total future lease payments 139,215 Less: Present value adjustment (17,101) Present value of future lease payments (1) $ 122,114 (1) Includes the current portion of operating lease liabilities of $20.2 million, which is reflected in other accrued expenses and liabilities in the condensed consolidated balance sheets.

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Schedule of Income Tax Provision	Our income before income tax provision, income tax provision and effective tax rates were as follows: Three Months Ended Nine Months Ended (in thousands, except percentages) September 30, September 30, September 30, September 30, Income before income tax provision $ 90,144 $ 108,829 $ 236,053 $ 337,436 Income tax provision 14,517 19,366 17,798 51,993 Effective tax rate 16.1 % 17.8 % 7.5 % 15.4 %

Stock Repurchase Program (Table

Stock Repurchase Program (Tables)	9 Months Ended
	Sep. 30, 2020
Class of Stock Disclosures [Abstract]
Stock Repurchase Program	Under our stock repurchase program, we repurchased shares as follows: Nine Months Ended (in thousands, except per share data) September 30, September 30, Number of shares repurchased 690 330 Average price paid per share $ 233.48 $ 179.41 Total cost $ 161,029 $ 59,116

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation Expense and Its Net Impact on Basic and Diluted Earnings Per Share	Total stock-based compensation expense and its net impact on basic and diluted earnings per share are as follows: Three Months Ended Nine Months Ended (in thousands, except per share data) September 30, September 30, September 30, September 30, Cost of sales: Maintenance and service $ 3,626 $ 2,422 $ 9,956 $ 6,024 Operating expenses: Selling, general and administrative 18,954 16,774 50,417 44,408 Research and development 15,605 12,666 42,883 34,352 Stock-based compensation expense before taxes 38,185 31,862 103,256 84,784 Related income tax benefits (10,060) (9,847) (46,849) (30,075) Stock-based compensation expense, net of taxes $ 28,125 $ 22,015 $ 56,407 $ 54,709 Net impact on earnings per share: Basic earnings per share $ (0.33) $ (0.26) $ (0.66) $ (0.65) Diluted earnings per share $ (0.32) $ (0.26) $ (0.65) $ (0.64)

Geographic Information (Tables)

Geographic Information (Tables)	9 Months Ended
	Sep. 30, 2020
Segments, Geographical Areas [Abstract]
Revenue by Geographic Area	Revenue by geographic area is as follows: Three Months Ended Nine Months Ended (in thousands) September 30, September 30, September 30, September 30, United States $ 156,663 $ 146,761 $ 465,919 $ 425,212 Japan 40,565 35,749 133,773 116,364 Germany 27,677 37,541 85,048 93,847 South Korea 21,083 16,902 54,105 72,833 United Kingdom 26,595 9,619 46,334 32,007 France 14,930 17,226 44,220 46,825 China 17,414 18,057 42,016 43,904 Other Europe, Middle East and Africa (EMEA) 37,314 35,241 107,678 110,330 Other international 24,724 26,803 78,518 88,342 Total revenue $ 366,965 $ 343,899 $ 1,057,611 $ 1,029,664
Property and Equipment by Geographic Area	Property and equipment by geographic area is as follows: (in thousands) September 30, December 31, United States $ 61,899 $ 59,473 India 6,670 5,660 France 5,647 3,657 Germany 4,802 4,237 United Kingdom 3,589 4,194 Other EMEA 1,932 1,875 Other international 5,760 4,540 Total property and equipment, net $ 90,299 $ 83,636

Organization (Detail)

Organization (Detail)	9 Months Ended
	Sep. 30, 2020segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments	1

Accounting Policies - Allowance

Accounting Policies - Allowance for Doubtful Accounts Rollforward (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Allowance for Doubtful Accounts Rollforward [Line Items]
Additions: charges to costs and expenses	$ 5,799	$ 2,559
Allowance for doubtful accounts rollforward
Allowance for Doubtful Accounts Rollforward [Line Items]
Beginning balance - January 1	8,700
Additions: charges to costs and expenses	5,799
Deductions: returns and write-offs	(1,099)
Ending balance - September 30	$ 13,400

Accounting Policies - Cash and

Accounting Policies - Cash and Cash Equivalents (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Cash accounts, Amount	$ 536,778	$ 549,639
Money market funds, Amount	307,963	322,455
Total	$ 844,741	$ 872,094
Cash
Percent Of Cash And Cash Equivalents	63.50%	63.00%
Money Market Funds
Percent Of Cash And Cash Equivalents	36.50%	37.00%

Accounting Policies - Cash an_2

Accounting Policies - Cash and Cash Equivalents - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2020
Money Market Funds
Cash and Cash Equivalents [Line Items]
Concentration risk, % of money market funds with two issuers	100.00%

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Additional Information (Detail) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Revenue from Contract with Customer [Abstract]
Amount of revenue recognized from beginning deferred revenue and backlog	$ 465.5	$ 409.1

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Disaggregation of Revenue (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Disaggregation of Revenue [Line Items]
Total revenue	$ 366,965	$ 343,899	$ 1,057,611	$ 1,029,664
Lease licenses
Disaggregation of Revenue [Line Items]
Total revenue	78,917	70,693	237,000	239,953
Perpetual licenses
Disaggregation of Revenue [Line Items]
Total revenue	62,705	66,451	161,793	190,734
Software licenses
Disaggregation of Revenue [Line Items]
Total revenue	141,622	137,144	398,793	430,687
Maintenance
Disaggregation of Revenue [Line Items]
Total revenue	211,942	193,189	615,609	559,768
Service
Disaggregation of Revenue [Line Items]
Total revenue	13,401	13,566	43,209	39,209
Maintenance and service
Disaggregation of Revenue [Line Items]
Total revenue	$ 225,343	$ 206,755	$ 658,818	$ 598,977
Direct revenue, as a percentage of total revenue
Disaggregation of Revenue [Line Items]
Concentration risk, percentage	74.90%	76.80%	75.70%	75.90%
Indirect revenue, as a percentage of total revenue
Disaggregation of Revenue [Line Items]
Concentration risk, percentage	25.10%	23.20%	24.30%	24.10%

Revenue from Contracts with C_5

Revenue from Contracts with Customers - Changes in Deferred Revenue (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Movement in Deferred Revenue [Roll Forward]
Beginning balance	$ 365,274	$ 343,174
Acquired deferred revenue	1,405	3,266
Deferral of revenue	1,025,057	991,524
Recognition of revenue	(1,057,611)	(1,029,664)
Currency translation	4,307	(4,985)
Ending balance	$ 338,432	$ 303,315

Revenue from Contracts with C_6

Revenue from Contracts with Customers - Remaining Performance Obligations, Expected Timing of Satisfaction (Detail) $ in Thousands	Sep. 30, 2020USD ($)
Revenue from Contract with Customer [Abstract]
Revenue, Remaining Performance Obligation, Amount	$ 879,912
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-10-01
Revenue from Contract with Customer [Abstract]
Revenue, Remaining Performance Obligation, Amount	$ 570,236
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01
Revenue from Contract with Customer [Abstract]
Revenue, Remaining Performance Obligation, Amount	$ 180,873
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01
Revenue from Contract with Customer [Abstract]
Revenue, Remaining Performance Obligation, Amount	$ 61,069
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01
Revenue from Contract with Customer [Abstract]
Revenue, Remaining Performance Obligation, Amount	$ 67,734
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period

Fair Value of Consideration Tra

Fair Value of Consideration Transferred (Details) $ in Thousands	Apr. 01, 2020USD ($)
Lumerical
Cash	$ 107,545

Recognized Amounts of Identifia

Recognized Amounts of Identifiable Assets Acquired and Liabilities Assumed (Details) - Lumerical $ in Thousands	Apr. 01, 2020USD ($)
Cash	$ 11,844
Accounts receivable and other tangible assets	4,244
Accounts payable and other liabilities	(1,106)
Deferred revenue	(1,405)
Net deferred tax liabilities	(7,452)
Total identifiable net assets	41,111
Goodwill	66,434
Developed Software and Core Technologies
Finite-lived intangible assets	31,614
Customer Lists
Finite-lived intangible assets	1,616
Trade Names
Finite-lived intangible assets	$ 1,756

Useful Life and Valuation Assum

Useful Life and Valuation Assumptions (Details) - Lumerical	Apr. 01, 2020
Developed Software and Core Technologies
Finite-lived intangible asset, useful life	10 years
Discount Rate	16.50%
Trade Names
Finite-lived intangible asset, useful life	6 years
Royalty Rate	2.00%
Discount Rate	16.50%
Customer Lists
Finite-lived intangible asset, useful life	10 years
Attrition Rate	10.00%
Discount Rate	12.50%

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail) - USD ($) shares in Thousands, $ in Thousands	Apr. 01, 2020	Nov. 01, 2019	Feb. 01, 2019	Dec. 31, 2019
Lumerical
Percentage of shares acquired	100.00%
Payments to acquire businesses, gross	$ 107,500
Lumerical | Developed Software and Core Technologies
Discount Rate	16.50%
Finite-lived intangible asset, useful life	10 years
Lumerical | Trade Names
Discount Rate	16.50%
Finite-lived intangible asset, useful life	6 years
Royalty Rate	2.00%
Lumerical | Customer Lists
Discount Rate	12.50%
Finite-lived intangible asset, useful life	10 years
Attrition Rate	10.00%
Livermore Software Technology Corporation
Percentage of shares acquired		100.00%
Payments to acquire businesses, gross		$ 472,800
Business combination, consideration transferred		$ 781,500
Business acquisition, equity interest issued or issuable, number of shares		1,400
Business combination, consideration transferred, equity interests issued and issuable		$ 308,700
Livermore Software Technology Corporation | Common Stock
Business combination, consideration transferred, equity interests issued and issuable		307,200
Livermore Software Technology Corporation | Treasury Stock
Business combination, consideration transferred, equity interests issued and issuable		$ 1,500
Granta Design
Percentage of shares acquired			100.00%
Payments to acquire businesses, gross			$ 208,700
Other Acquisitions
Payments to acquire businesses, gross				$ 138,600

Other Receivables and Current_3

Other Receivables and Current Assets, Other Accrued Expenses and Liabilities, and Other Long-Term Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Other Receivables and Current Assets, Other Accrued Expenses and Liabilities, and Other Long-Term Liabilities [Abstract]
Receivables related to unrecognized revenue	$ 145,097	$ 177,679
Income taxes receivable, including overpayments and refunds	53,156	26,672
Prepaid expenses and other current assets	43,907	45,268
Total other receivables and current assets	242,160	249,619
Accrued vacation	32,866	24,336
Consumption, VAT and sales tax liabilities	23,814	36,398
Accrued expenses and other current liabilities	86,176	82,213
Total other accrued expenses and liabilities	142,856	142,947
Uncertain tax positions	69,906	64,375
Other long-term liabilities	35,500	32,051
Total other long-term liabilities	$ 105,406	$ 96,426

Earnings Per Share - Details of

Earnings Per Share - Details of Basic and Diluted EPS (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2020	Sep. 30, 2019
Earnings Per Share [Abstract]
Net income	$ 75,627	$ 96,564	$ 46,064	$ 89,463	$ 109,750	$ 86,230	$ 218,255	$ 285,443
Weighted average shares outstanding - basic	85,798			84,109			85,749	83,951
Dilutive effect of stock plans	1,426			1,624			1,427	1,619
Weighted average shares outstanding - diluted	87,224			85,733			87,176	85,570
Basic earnings per share	$ 0.88			$ 1.06			$ 2.55	$ 3.40
Diluted earnings per share	$ 0.87			$ 1.04			$ 2.50	$ 3.34
Anti-dilutive shares	30			25			28	8

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Amortization of intangible assets	$ 14.1	$ 8.5	$ 41.8	$ 25.4
Minimum
Finite-lived Intangible asset, useful life			2 years
Maximum
Finite-lived Intangible asset, useful life			17 years

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Intangible Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Intangible Assets [Line Items]
Amortized intangible assets, gross carrying amount	$ 1,089,690	$ 1,058,951
Amortized intangible assets, accumulated amortization	(615,262)	(582,597)
Indefinite-lived intangible assets (excluding goodwill)	357
Trade Names
Intangible Assets [Line Items]
Indefinite-lived intangible assets (excluding goodwill)	357	357
Developed Software and Core Technologies
Intangible Assets [Line Items]
Amortized intangible assets, gross carrying amount	670,429	635,063
Amortized intangible assets, accumulated amortization	(359,230)	(332,622)
Customer Lists
Intangible Assets [Line Items]
Amortized intangible assets, gross carrying amount	262,744	269,629
Amortized intangible assets, accumulated amortization	(135,148)	(132,596)
Trade Names
Intangible Assets [Line Items]
Amortized intangible assets, gross carrying amount	156,517	154,259
Amortized intangible assets, accumulated amortization	$ (120,884)	$ (117,379)

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Estimated Future Amortization Expense for Intangible Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2020	$ 13,900
2021	55,846
2022	56,888
2023	56,534
2024	55,051
2025	51,314
Thereafter	184,895
Total intangible assets subject to amortization	474,428
Indefinite-lived trade name	357
Other intangible assets, net	$ 474,785	$ 476,711

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Changes in Goodwill (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Goodwill [Roll Forward]
Beginning balance	$ 2,413,280	$ 1,572,455
Acquisitions and adjustments	69,598	219,009
Currency translation	8,712	(19,602)
Ending balance	$ 2,491,590	$ 1,771,862

Fair Value Measurement - Fair V

Fair Value Measurement - Fair Value of Assets and Liabilities Measured on Recurring Basis (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 307,963	$ 322,455
Short-term investments	468	288
Deferred compensation plan investments	1,602	1,110
Quoted Prices in Active Markets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	307,963	322,455
Short-term investments	0	0
Deferred compensation plan investments	1,602	1,110
Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Short-term investments	468	288
Deferred compensation plan investments	0	0
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Short-term investments	0	0
Deferred compensation plan investments	$ 0	$ 0

Fair Value Measurement - Additi

Fair Value Measurement - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2020
Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments maturity	3 months
Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments maturity	1 year

Leases - Additional Information

Leases - Additional Information (Detail) $ in Millions	Sep. 30, 2020USD ($)ft²
Lessee, Lease, Description [Line Items]
Current portion of operating lease liabilities	$ 20.2
Canonsburg Office, New Company Headquarters
Lessee, Lease, Description [Line Items]
Area of real estate property | ft²	186,000
Period of leased property	183 months
Base rent through 2024	$ 4.5
Base rent 2025-2029	$ 4.7

Leases - Schedule of Lease Cost

Leases - Schedule of Lease Cost (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Leases [Abstract]
Lease liability cost	$ 6,206	$ 5,684	$ 18,704	$ 16,579
Variable lease cost not included in the lease liability	1,033	1,126	3,354	2,847
Total lease cost	$ 7,239	$ 6,810	$ 22,058	$ 19,426

Leases - Lessee, Operating Leas

Leases - Lessee, Operating Lease Other Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Leases [Abstract]
Operating cash flows from operating leases	$ (5,921)	$ (5,242)	$ (17,322)	$ (14,551)
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 1,076	$ 6,155	$ 21,319	$ 29,262
Weighted-average remaining lease term of operating leases	7 years 6 months	7 years 9 months 18 days	7 years 6 months	7 years 9 months 18 days
Weighted-average discount rate of operating leases	3.30%	3.70%	3.30%	3.70%

Leases - Schedule of Maturity o

Leases - Schedule of Maturity of Operating Lease Liabilities (Detail) $ in Thousands	Sep. 30, 2020USD ($)
Leases [Abstract]
Remainder of 2020	$ 6,467
2021	23,349
2022	20,424
2023	15,516
2024	14,661
Thereafter	58,798
Total future lease payments	139,215
Present value adjustment	(17,101)
Present value of future lease payments	$ 122,114

Debt (Detail)

Debt (Detail) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020	Dec. 31, 2019	Nov. 01, 2019
Debt Disclosure [Line Items]
Unsecured debt	$ 423,800,000	$ 423,800,000	$ 498,500,000	$ 500,000,000
Term loan principal repayment rate, initial	1.25%	1.25%
Term loan principal repayment rate, increased	2.50%	2.50%
Early debt repayment		$ 75,000,000
Repayment of debt due in 2022	$ 25,000,000	25,000,000
Repayment of debt due in 2023	$ 50,000,000	$ 50,000,000
Weighted-average interest rate over time	1.43%	2.33%
Weighted-average interest rate at point in time	1.35%	1.35%
Consolidated leverage ratio	3.50	3.50
Consolidated leverage ratio increased	4	4
Qualified acquisition amount	$ 250,000,000	$ 250,000,000
Unamortized debt issuance cost	1,200,000	1,200,000	$ 1,500,000
Revolving credit facility
Debt Disclosure [Line Items]
Line of credit, maximum borrowing capacity	500,000,000	500,000,000
Outstanding borrowings under the credit agreement	0	0
Letters of credit
Debt Disclosure [Line Items]
Line of credit, maximum borrowing capacity	$ 50,000,000	$ 50,000,000
Base rate
Debt Disclosure [Line Items]
Debt instrument, basis spead on federal funds rate		0.50%
Debt instrument, basis spread on Eurodollar rate		1.00%
Base rate | Minimum
Debt Disclosure [Line Items]
Debt instrument, basis spread on variable rate		0.125%
Base rate | Maximum
Debt Disclosure [Line Items]
Debt instrument, basis spread on variable rate		0.75%
Eurodollar | Minimum
Debt Disclosure [Line Items]
Debt instrument, basis spread on variable rate		1.125%
Eurodollar | Maximum
Debt Disclosure [Line Items]
Debt instrument, basis spread on variable rate		1.75%

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income Tax Provision (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income before income tax provision	$ 90,144	$ 108,829	$ 236,053	$ 337,436
Income tax provision	$ 14,517	$ 19,366	$ 17,798	$ 51,993
Effective tax rate	16.10%	17.80%	7.50%	15.40%

Stock Repurchase Program (Detai

Stock Repurchase Program (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended			9 Months Ended
	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2020	Sep. 30, 2019
Class of Stock Disclosures [Abstract]
Number of shares repurchased				690	330
Average price paid per share				$ 233.48	$ 179.41
Total cost	$ 161,029	$ 14,260	$ 44,856	$ 161,029	$ 59,116

Stock Repurchase Program - Addi

Stock Repurchase Program - Additional Information (Detail) shares in Millions	Sep. 30, 2020shares
Class of Stock Disclosures [Abstract]
Stock repurchase program, remaining number of shares authorized to be repurchased	2.8

Stock-Based Compensation Expens

Stock-Based Compensation Expense and Its Net Impact on Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Employee Service Share-Based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense before taxes	$ 38,185	$ 31,862	$ 103,256	$ 84,784
Related income tax benefits	(10,060)	(9,847)	(46,849)	(30,075)
Stock-based compensation expense, net of taxes	$ 28,125	$ 22,015	$ 56,407	$ 54,709
Basic earnings per share	$ (0.33)	$ (0.26)	$ (0.66)	$ (0.65)
Diluted earnings per share	$ (0.32)	$ (0.26)	$ (0.65)	$ (0.64)
Maintenance and service
Employee Service Share-Based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense before taxes	$ 3,626	$ 2,422	$ 9,956	$ 6,024
Selling, General and Administrative
Employee Service Share-Based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense before taxes	18,954	16,774	50,417	44,408
Research and Development
Employee Service Share-Based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense before taxes	$ 15,605	$ 12,666	$ 42,883	$ 34,352

Geographic Information - Revenu

Geographic Information - Revenue by Geographic Area (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 366,965	$ 343,899	$ 1,057,611	$ 1,029,664
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	156,663	146,761	465,919	425,212
Japan
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	40,565	35,749	133,773	116,364
Germany
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	27,677	37,541	85,048	93,847
South Korea
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	21,083	16,902	54,105	72,833
United Kingdom
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	26,595	9,619	46,334	32,007
France
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	14,930	17,226	44,220	46,825
China
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	17,414	18,057	42,016	43,904
Other Europe, Middle East and Africa (EMEA)
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	37,314	35,241	107,678	110,330
Other international
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 24,724	$ 26,803	$ 78,518	$ 88,342

Geographic Information - Proper

Geographic Information - Property and Equipment by Geographic Area (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net	$ 90,299	$ 83,636
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net	61,899	59,473
India
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net	6,670	5,660
France
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net	5,647	3,657
Germany
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net	4,802	4,237
United Kingdom
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net	3,589	4,194
Other EMEA
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net	1,932	1,875
Other international
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net	$ 5,760	$ 4,540

Contingencies and Commitments (

Contingencies and Commitments (Detail) $ in Millions	Sep. 30, 2020USD ($)
India Service Tax Audit
Loss Contingencies [Line Items]
Loss contingency, estimate of possible loss	$ 7.2

Subsequent Event - Additional I

Subsequent Event - Additional Information (Details) - Analytical Graphics, Inc. - Subsequent Event $ in Thousands	Oct. 23, 2020USD ($)
Subsequent Event [Line Items]
Percentage of shares acquired	100.00%
Business combination, consideration transferred	$ 700,000
Business combination, consideration transferred, percent paid in cash	67.00%
Business combination, consideration transferred, percent paid in common stock	33.00%