PTC (PTC) 10-Q 4 Aug 23 2023 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Jun. 30, 2023	Aug. 02, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	0-18059
Entity Registrant Name	PTC Inc.
Entity Incorporation, State or Country Code	MA
Entity Tax Identification Number	04-2866152
Entity Address, Address Line One	121 Seaport Boulevard
Entity Address, City or Town	Boston
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02210
City Area Code	781
Local Phone Number	370-5000
Title of 12(b) Security	Common Stock, $.01 par value per share
Trading Symbol	PTC
Security Exchange Name	NASDAQ
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		118,833,211
Amendment Flag	false
Entity Central Index Key	0000857005
Current Fiscal Year End Date	--09-30
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Jun. 30, 2023	Sep. 30, 2022
ASSETS
Cash and cash equivalents	$ 281,513,000	$ 272,182,000
Accounts receivable, net of allowance for doubtful accounts of $0 and $362 at June 30, 2023 and September 30, 2022, respectively	625,471,000	636,556,000
Prepaid expenses	118,872,000	88,854,000
Other current assets	77,421,000	71,065,000
Total current assets	1,103,277,000	1,068,657,000
Property and equipment, net	89,180,000	98,101,000
Goodwill	3,377,319,000	2,353,654,000
Acquired intangible assets, net	959,120,000	382,718,000
Deferred tax assets	146,307,000	256,091,000
Operating right-of-use lease assets	144,860,000	137,780,000
Other assets	387,586,000	390,267,000
Total assets	6,207,649,000	4,687,268,000
LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable	18,492,000	40,153,000
Accrued expenses and other current liabilities	148,784,000	117,158,000
Accrued compensation and benefits	150,774,000	104,022,000
Accrued income taxes	19,198,000	5,142,000
Deferred acquisition payments	620,040,000	0
Deferred revenue	631,325,000	503,781,000
Short-term lease obligations	23,042,000	22,002,000
Total current liabilities	1,611,655,000	792,258,000
Long-term debt	1,738,241,000	1,350,628,000
Deferred tax liabilities	35,077,000	28,396,000
Deferred revenue	19,102,000	16,552,000
Long-term lease obligations	171,777,000	167,573,000
Other liabilities	33,133,000	35,827,000
Total liabilities	3,608,985,000	2,391,234,000
Commitments and contingencies (Note 13)
Stockholders’ equity:
Preferred stock, $0.01 par value; 5,000 shares authorized; none issued	0	0
Common stock, $0.01 par value; 500,000 shares authorized; 0 and 117,472 shares issued and outstanding at June 30, 2023 and September 30, 2022, respectively	1,186,000	1,175,000
Additional paid-in capital	1,767,442,000	1,720,580,000
Retained earnings	927,674,000	727,737,000
Accumulated other comprehensive loss	(97,638,000)	(153,458,000)
Total stockholders’ equity	2,598,664,000	2,296,034,000
Total liabilities and stockholders’ equity	$ 6,207,649,000	$ 4,687,268,000

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2023	Sep. 30, 2022
Current assets:
Allowance for doubtful accounts	$ 429	$ 362
Stockholders’ equity:
Preferred stock, par value (in USD per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Common stock, par value (in USD per share)	$ 0.01	$ 0.01
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	118,731,000	117,472,000
Common stock, shares outstanding	118,731,000	117,472,000

Consolidated Statements Of Oper

Consolidated Statements Of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenue:
Total revenue	$ 542,342	$ 462,474	$ 1,550,433	$ 1,425,422
Cost of revenue:
Total cost of revenue	115,854	101,995	325,150	290,450
Gross margin	426,488	360,479	1,225,283	1,134,972
Operating expenses:
Sales and marketing	145,083	124,325	392,673	366,209
Research and development	103,819	88,170	292,345	250,639
General and administrative	57,055	54,618	173,949	154,027
Amortization of acquired intangible assets	10,670	8,931	29,352	25,865
Restructuring and other charges (credits), net	(39)	4,458	(376)	36,887
Total operating expenses	316,588	280,502	887,943	833,627
Operating income	109,900	79,977	337,340	301,345
Interest and debt premium expense	(35,836)	(13,758)	(93,719)	(38,983)
Other income (expense), net	2,462	34,559	398	(2,642)
Income before income taxes	76,526	100,778	244,019	259,720
Provision for income taxes	15,128	30,302	44,082	53,476
Net income	$ 61,398	$ 70,476	$ 199,937	$ 206,244
Earnings per share—Basic	$ 0.52	$ 0.6	$ 1.69	$ 1.76
Earnings per share—Diluted	$ 0.51	$ 0.6	$ 1.68	$ 1.75
Weighted-average shares outstanding—Basic	118,483	117,073	118,186	117,114
Weighted-average shares outstanding—Diluted	119,392	117,968	119,072	118,097
License
Revenue:
License	$ 192,940	$ 175,163	$ 562,631	$ 562,646
Cost of revenue:
Cost of license revenue	11,501	13,676	41,293	35,406
Support and cloud services
Revenue:
Support and cloud services	313,721	248,237	875,448	736,597
Cost of revenue:
Cost of support and cloud services revenue	68,264	46,598	177,626	137,251
Software
Revenue:
Total software revenue	506,661	423,400	1,438,079	1,299,243
Cost of revenue:
Total cost of software revenue	79,765	60,274	218,919	172,657
Professional services
Revenue:
Professional services	35,681	39,074	112,354	126,179
Cost of revenue:
Cost of professional services revenue	$ 36,089	$ 41,721	$ 106,231	$ 117,793

Consolidated Statements Of Comp

Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net Income (Loss)	$ 61,398	$ 70,476	$ 199,937	$ 206,244
Other comprehensive income (loss), net of tax:
Hedge gain (loss) arising during the period, net of tax of $0 million and $1.9 million in the third quarter of 2023 and 2022, respectively, and $0 million and $4 million in the first nine months of 2023 and 2022, respectively	(521)	5,880	(14,005)	12,072
Foreign currency translation adjustment, net of tax of $0 for each period	1,405	(35,795)	70,181	(52,819)
Amortization of net actuarial pension loss included in net income, net of tax of $0 million and $0 million in the third quarter of 2023 and 2022, respectively, and $0 million and $0.2 million in the first nine months of 2023 and 2022, respectively	43	(78)	125	447
Change in unamortized pension loss during the period related to changes in foreign currency	(67)	1,354	(481)	2,277
Other comprehensive income (loss)	860	(28,639)	55,820	(38,023)
Comprehensive income	$ 62,258	$ 41,837	$ 255,757	$ 168,221

Consolidated Statements Of Co_2

Consolidated Statements Of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Hedge gain (loss) arising during the period, tax	$ 0.2	$ (1.9)	$ 4.7	$ (4)
Foreign currency translation adjustment, tax	0	0	0	0
Amortization of net actuarial pension gain included in net income, tax	$ 0	$ 0	$ 0	$ (0.2)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities:
Net Income (Loss)	$ 199,937	$ 206,244
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	76,943	65,456
Amortization of right-of-use lease assets	24,705	26,149
Stock-based compensation	147,568	133,283
Loss on investment	0	31,854
Gain on divestiture of business	0	(29,808)
Other non-cash items, net	(3,114)	(645)
Changes in operating assets and liabilities, excluding the effects of acquisitions:
Accounts receivable	99,521	25,228
Accounts payable and accrued expenses	5,407	(7,434)
Accrued compensation and benefits	5,961	(9,334)
Deferred revenue	18,696	18,038
Accrued income taxes	(9,910)	6,124
Other current assets and prepaid expenses	8,670	(26,933)
Operating lease liabilities	(1,360)	(10,544)
Other noncurrent assets and liabilities	(11,932)	(30,851)
Net cash provided by operating activities	561,092	396,827
Cash flows from investing activities:
Additions to property and equipment	(18,035)	(9,979)
Acquisitions of businesses, net of cash acquired	(828,271)	(274,974)
Proceeds from sale of investments	349	46,906
Purchases of investments	(5,823)	0
Purchase of intangible assets	0	(5,453)
Settlement of net investment hedges	(14,204)	18,043
Divestitures of businesses and assets, net	(154)	32,518
Net cash provided by (used in) investing activities	(866,138)	(192,939)
Cash flows from financing activities:
Borrowings under credit facility	1,130,000	264,000
Repayments of borrowings under credit facility	(744,000)	(280,000)
Repurchases of common stock	0	(125,000)
Proceeds from issuance of common stock	10,592	10,857
Payments of withholding taxes in connection with stock-based awards	(75,489)	(62,856)
Payments of principal for financing leases	(217)	(239)
Credit facility origination costs	(13,355)	0
Net cash provided by (used in) financing activities	307,531	(193,238)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	6,835	(14,654)
Net change in cash, cash equivalents, and restricted cash	9,320	(4,004)
Cash, cash equivalents, and restricted cash, beginning of period	272,888	327,046
Cash, cash equivalents, and restricted cash, end of period	282,208	323,042
Supplemental disclosure of non-cash financing and investing activities:
Withholding taxes in connection with stock-based awards, accrued	5,705	5,803
Operating right-of-use assets obtained in exchange for operating lease liabilities	$ 23,142	$ 11,825

Consolidated Statements of Stoc

Consolidated Statements of Stockholder's Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Loss
Beginning balance at Sep. 30, 2021	$ 2,038,468	$ 1,172	$ 1,718,504	$ 414,656	$ (95,864)
Beginning balance (in shares) at Sep. 30, 2021		117,163,000
Common stock issued for employee stock-based awards		$ 18	(18)
Common stock issued for employee stock-based awards (in shares)		1,729,000
Shares surrendered by employees to pay taxes related to stock-based awards	(68,659)	$ (6)	(68,653)
Shares surrendered by employees to pay taxes related to stock-based awards (in shares)		(594,000)
Common stock issued for employee stock purchase plan	10,857	$ 1	10,856
Common stock issued for employee stock purchase plan (in shares)		110,000
Compensation expense from stock-based awards	133,283		133,283
Repurchases of common stock	(125,000)	$ (11)	(124,989)
Repurchases of common stock (in shares)		(1,046,000)
Net Income (Loss)	206,244			206,244
Gain (loss) on net investment hedges, net of tax	12,072				12,072
Foreign currency translation adjustment	(52,819)				(52,819)
Change in pension benefits, net of tax	2,724				2,724
Ending balance at Jun. 30, 2022	2,157,170	$ 1,174	1,668,983	620,900	(133,887)
Ending balance (in shares) at Jun. 30, 2022		117,362,000
Beginning balance at Mar. 31, 2022	2,083,977	$ 1,170	1,637,631	550,424	(105,248)
Beginning balance (in shares) at Mar. 31, 2022		116,976,000
Common stock issued for employee stock-based awards		$ 6	(6)
Common stock issued for employee stock-based awards (in shares)		558,000
Shares surrendered by employees to pay taxes related to stock-based awards	(18,064)	$ (2)	(18,062)
Shares surrendered by employees to pay taxes related to stock-based awards (in shares)		(172,000)
Compensation expense from stock-based awards	49,420		49,420
Net Income (Loss)	70,476			70,476
Gain (loss) on net investment hedges, net of tax	5,880				5,880
Foreign currency translation adjustment	(35,795)				(35,795)
Change in pension benefits, net of tax	1,276				1,276
Ending balance at Jun. 30, 2022	2,157,170	$ 1,174	1,668,983	620,900	(133,887)
Ending balance (in shares) at Jun. 30, 2022		117,362,000
Beginning balance at Sep. 30, 2022	$ 2,296,034	$ 1,175	1,720,580	727,737	(153,458)
Beginning balance (in shares) at Sep. 30, 2022	117,472,000	117,472,000
Common stock issued for employee stock-based awards		$ 18	18
Common stock issued for employee stock-based awards (in shares)		1,766,000
Shares surrendered by employees to pay taxes related to stock-based awards	$ (81,194)	$ (7)	(81,187)
Shares surrendered by employees to pay taxes related to stock-based awards (in shares)		(609,000)
Common stock issued for employee stock purchase plan	10,592		10,592
Common stock issued for employee stock purchase plan (in shares)		102,000
Compensation expense from stock-based awards	117,475		117,475
Net Income (Loss)	199,937			199,937
Gain (loss) on net investment hedges, net of tax	14,005				14,005
Foreign currency translation adjustment	70,181				70,181
Change in pension benefits, net of tax	(356)				(356)
Ending balance at Jun. 30, 2023	$ 2,598,664	$ 1,186	1,767,442	927,674	(97,638)
Ending balance (in shares) at Jun. 30, 2023	118,731,000	118,731,000
Beginning balance at Mar. 31, 2023	$ 2,518,534	$ 1,182	1,749,574	866,276	(98,498)
Beginning balance (in shares) at Mar. 31, 2023		118,334,000
Common stock issued for employee stock-based awards		$ 6	6
Common stock issued for employee stock-based awards (in shares)		582,000
Shares surrendered by employees to pay taxes related to stock-based awards	(25,172)	$ (2)	(25,170)
Shares surrendered by employees to pay taxes related to stock-based awards (in shares)		(185,000)
Compensation expense from stock-based awards	43,044		43,044
Net Income (Loss)	61,398			61,398
Gain (loss) on net investment hedges, net of tax	521				521
Foreign currency translation adjustment	1,405				1,405
Change in pension benefits, net of tax	(24)				(24)
Ending balance at Jun. 30, 2023	$ 2,598,664	$ 1,186	$ 1,767,442	$ 927,674	$ (97,638)
Ending balance (in shares) at Jun. 30, 2023	118,731,000	118,731,000

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 61,398	$ 70,476	$ 199,937	$ 206,244

Insider Trading Arrangements

Insider Trading Arrangements	9 Months Ended
	Jun. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation

Basis of Presentation	9 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	1. Basis of Presentation General The accompanying unaudited condensed consolidated financial statements include the accounts of PTC Inc. and its wholly owned subsidiaries and have been prepared by management in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) and in accordance with the rules and regulations of the Securities and Exchange Commission regarding interim financial reporting. Accordingly, they do not include all the information and footnotes required by generally accepted accounting principles for complete financial statements. While we believe that the disclosures presented are adequate in order to make the information not misleading, these unaudited quarterly financial statements should be read in conjunction with our annual consolidated financial statements and related notes included in our Annual Report on Form 10-K for the fiscal year ended September 30, 2022. In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments, consisting only of those of a normal recurring nature, necessary for a fair statement of our financial position, results of operations and cash flows as of the dates and for the periods indicated. The September 30, 2022 Consolidated Balance Sheet included herein is derived from our audited consolidated financial statements. Unless otherwise indicated, all references to a year mean our fiscal year, which ends on September 30.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	9 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	2. Revenue from Contracts with Customers Receivables, Co ntract Assets and Contract Liabilities (in thousands) June 30, September 30, Short-term and long-term receivables $ 844,941 $ 870,962 Contract assets $ 17,826 $ 21,096 Deferred revenue $ 650,427 $ 520,333 During the nine months ended June 30, 2023, we recognized $ 457.0 million of revenue that was included in Deferred revenue as of September 30, 2022. In addition, Deferred revenue increased by $ 97.8 million as a result of the acquisition of ServiceMax. The remainder of the change was driven by additional deferrals, primarily from new billings. Our multi-year, non-cancellable on-premises subscription contracts provide customers with an annual right to exchange software within the subscription with other software. As of June 30, 2023 and September 30, 2022, our total revenue liability was $ 25.2 million and $ 34.2 million, respectively, primarily associated with the annual right to exchange on-premises subscription software. Remaining Performance Obligations Our contracts with customers include transaction price amounts allocated to performance obligations that will be satisfied and recognized as revenue at a later date. As of June 30, 2023, the transaction price amounts include performance obligations of $ 650.4 million recorded in Deferred revenue and $ 1,246.5 million that are not yet recorded in the Consolidated Balance Sheets. We expect to recognize approximately 58 % of the total $ 1,896.9 million over the next 12 months, with the remaining amount thereafter. Disaggregation of Revenue (in thousands) Three months ended Nine months ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Recurring revenue (1) $ 498,410 $ 415,197 $ 1,407,662 $ 1,273,032 Perpetual license 8,251 8,203 30,417 26,211 Professional services 35,681 39,074 112,354 126,179 Total revenue $ 542,342 $ 462,474 $ 1,550,433 $ 1,425,422 (1) Recurring revenue is comprised of on-premises subscription, perpetual support, SaaS, and cloud services revenue. Our international revenue is presented based on the location of our customer. Revenue for the geographic regions in which we operate is presented below. (in thousands) Three months ended Nine months ended June 30, June 30, June 30, June 30, Americas $ 278,329 $ 193,043 $ 761,617 $ 608,924 Europe 173,559 176,419 549,835 561,690 Asia Pacific 90,454 93,012 238,981 254,808 Total revenue $ 542,342 $ 462,474 $ 1,550,433 $ 1,425,422

Restructuring and Other Charges

Restructuring and Other Charges	9 Months Ended
	Jun. 30, 2023
Restructuring and Related Activities [Abstract]
Restructuring and Other Charges	3. Restructuring and Other Charges Restructuring and other charges, net includes restructuring charges (credits) and impairment and accretion expense charges related to the lease assets of exited facilities. Restructuring Charges (Credits) Restructuring accrual balances as of June 30, 2023 and September 30, 2022 and activity for the nine months ended June 30, 2023 were immaterial. The following table summarizes restructuring accrual activity for the nine months ended June 30, 2022: (in thousands) Employee Severance and Related Benefits Facility Closures and Related Costs Total Accrual, October 1, 2021 $ 1,981 $ 3,505 $ 5,486 Charges (credits) to operations, net 33,471 ( 721 ) 32,750 Cash disbursements ( 31,965 ) ( 2,159 ) ( 34,124 ) Foreign exchange impact ( 550 ) — ( 550 ) Accrual, June 30, 2022 $ 2,937 $ 625 $ 3,562 The accrual for employee severance and related benefits is included in Accrued compensation and benefits in the Consolidated Balance Sheets. The accrual for facility closures and related costs is included in Accrued expenses and other current liabilities in the Consolidated Balance Sheets. In addition to the payments referenced above, payments related to lease costs for exited facilities were $ 0.7 million and $ 1.9 million in the third quarter and first nine months of 2022 , respectively.

Stock-based Compensation

Stock-based Compensation	9 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement, Recognized Amount [Abstract]
Stock-Based Compensation	4. Stock-based Compensation The value of stock issued for RSUs vested is as follows: (in thousands) Three months ended Nine months ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Stock issued for vested RSUs $ 79,129 $ 58,544 $ 235,430 $ 198,712 Compensation expense recorded for our stock-based awards is classified in our Consolidated Statements of Operations as follows: (in thousands) Three months ended Nine months ended June 30, June 30, June 30, June 30, Cost of license revenue $ 53 $ 338 $ 141 $ 413 Cost of support and cloud services revenue 3,479 2,544 9,464 8,183 Cost of professional services revenue 2,315 5,547 6,063 10,069 Sales and marketing 14,513 14,029 39,554 38,556 Research and development 14,801 11,002 41,839 30,682 General and administrative 18,657 15,960 50,507 45,380 Total stock-based compensation expense $ 53,818 $ 49,420 $ 147,568 $ 133,283 As of June 30, 2023 , we had liability-classified awards related to stock-based compensation of $ 30.1 million.

Earnings per Share (EPS) and Co

Earnings per Share (EPS) and Common Stock	9 Months Ended
	Jun. 30, 2023
Earnings Per Share And Common Stock [Abstract]
Earnings per Share (EPS) and Common Stock	5. Earnings per Share (EPS) and Common Stock EPS The following table presents the calculation for both basic and diluted EPS: (in thousands, except per share data) Three months ended Nine months ended June 30, June 30, June 30, June 30, Net income $ 61,398 $ 70,476 $ 199,937 $ 206,244 Weighted-average shares outstanding—Basic 118,483 117,073 118,186 117,114 Dilutive effect of restricted stock units 909 895 886 983 Weighted-average shares outstanding—Diluted 119,392 117,968 119,072 118,097 Earnings per share—Basic $ 0.52 $ 0.60 $ 1.69 $ 1.76 Earnings per share—Diluted $ 0.51 $ 0.60 $ 1.68 $ 1.75 Anti-dilutive shares were immaterial for the three and nine months ended June 30, 2023 and June 30, 2022 .

Acquisitions

Acquisitions	9 Months Ended
	Jun. 30, 2023
Business Combinations [Abstract]
Acquisitions	6. Acquisitions Acquisition and transaction-related costs in the third quarter and first nine months of 2023 totaled $ 0.8 million and $ 18.5 million, respectively, compared to $ 6.4 million and $ 11.3 million in the third quarter and first nine months of 2022, respectively. These costs are classified in General and administrative expense in the accompanying Consolidated Statements of Operations. Our results of operations include or exclude, as applicable, the results of acquired or sold businesses beginning on their respective acquisition or sale date. ServiceMax On January 3, 2023, we acquired ServiceMax, Inc. pursuant to a Share Purchase Agreement dated November 17, 2022 by and among PTC, ServiceMax, Inc., and ServiceMax JV, LP. ServiceMax develops and licenses cloud-native, product-centric field service management (FSM) software, which is included within our PLM product group. The purchase price of $ 1,448.2 million, net of cash acquired, is payable in two installments. Upon closing of the transaction, PTC paid the first installment of $ 828.2 million, as adjusted for working capital, indebtedness, cash, and transaction expenses as set forth in the Share Purchase Agreement. The remaining installment of $ 650.0 million, of which $ 620.0 million represents the fair value as of the acquisition date and $ 30.0 million is imputed interest, is payable on October 2, 2023. The fair value of the deferred acquisition payment was calculated based on our borrowing rate at the time of the acquisition. PTC borrowed $ 630 million under the revolving line of our new credit facility and $ 500 million under the term loan of the new credit facility to repay amounts under the prior credit facility and to pay the closing purchase price a nd transaction expenses related to the acquisition. ServiceMax had approximately 500 employees on the close date . In the three and nine months ended June 30, 2023, ServiceMax revenue was $ 46.6 million and $ 91.7 million, respectively, and ServiceMax earnings were immaterial. The acquisition of ServiceMax has been accounted for as a business combination. Assets acquired and liabilities assumed have been recorded at their estimated fair values as of the acquisition date. The fair values of intangible assets were based on valuations using a discounted cash flow model which requires the use of significant estimates and assumptions, including estimating future revenues, future costs, and an applicable discount rate. The excess of the purchase price over the tangible assets, identifiable intangible assets and assumed liabilities was recorded as goodwill. The purchase price allocation is considered preliminary, and additional adjustments may be recorded during the measurement period as we receive additional information relevant to the value of deferred tax assets and liabilities. The following table sets forth the preliminary purchase price allocation for ServiceMax. We have also recorded a liability of $ 620.0 million related to the fair value of the $ 650.0 million deferred purchase price payment. (in thousands) Goodwill (1) $ 979,349 Customer relationships 509,200 Purchased software 106,900 Accounts receivable 58,722 Trademarks 9,000 Other net assets 5,540 Net tax liability (1) ( 122,654 ) Deferred revenue ( 97,829 ) Total $ 1,448,228 (1) Includes a measurement period adjustment of $ 4.2 million to Goodwill and $( 4.2 ) million to Net tax liability in the third quarter of 2023 related to deferred tax liabilities. The acquired customer relationships, purchased software, and trademarks are being amortized over useful lives of 19 years , 10 years , and 10 years , respectively, based on the expected economic benefit pattern of the ass ets. The acquired goodwill will not be deductible for income tax purposes. The amount of goodwill resulting from purchase price allocation reflects expected future growth as ServiceMax expands our closed-loop product lifecycle management (PLM) strategy. Unaudited Pro Forma Financial Information The unaudited pro forma financial information in the table below summarizes the combined results of operations for PTC and ServiceMax. The unaudited pro forma financial information for all periods presented includes adjustments to reflect certain business combination effects, including: amortization of acquired intangible assets, including the elimination of related ServiceMax expenses; acquisition-related costs incurred by both parties; reversal of certain costs incurred by ServiceMax which would not have been incurred had the acquisition occurred at the beginning of fiscal 2022; interest expense under the new combined capital structure; stock-based compensation charges; and the related tax effects as though ServiceMax was acquired as of the beginning of fiscal 2022. The unaudited pro forma financial information as presented below is for informational purposes only and is not necessarily indicative of the results of operations that would have been achieved if the acquisition had taken place at the beginning of fiscal 2022. The unaudited pro forma financial information for the three and nine months ended June 30, 2023 and 2022 presented below combines the historical results of PTC for those periods and the historical results of ServiceMax for the three and nine months ended July 31, 2022, respectively, and the effects of the pro forma adjustments listed above. (in thousands) Pro forma three months ended Pro forma nine months ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Revenue $ 542,342 $ 506,367 $ 1,594,118 $ 1,550,767 Net income $ 61,398 $ 59,905 $ 193,834 $ 136,495 The impact from acquisitions other than ServiceMax for the reported periods if presented on a pro forma basis would not differ materially from our reported results.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	7. Goodwill and Intangible Assets Our reporting units are the same as our operating segments. In the third quarter of 2023, we reevaluated our operating segments to better align with how our chief operating decision maker ("CODM") evaluates performance and allocates resources, which resulted in a change from two operating segments—Software Products and Professional Services—to a single operating segment. As part of this reevaluation, we determined that our reporting unit is the same as our operating segment. Before combining the reporting units, we performed a step zero qualitative assessment of the Software Products reporting unit and a step one quantitative assessment of the Professional Services reporting unit. As of June 30, 2023 and prior to the reporting unit change, goodwill attributable to the Software Products segment was $ 3,367.5 million and to the Professional Services segment was $ 9.8 million. Our qualitative assessment for Software Products included company-specific (e.g., financial performance and long-range plans), industry, and macroeconomic factors, as well as consideration of the fair value of the reporting unit relative to its carrying value at the last valuation date (June 27, 2020). Based on our qualitative assessment, we believe it is more likely than not that the fair value of our Software Products reporting unit exceeds its carrying value and no further impairment testing is required. Our quantitative assessment for Professional Services compared the fair value of the reporting unit to its carrying value. We estimated the fair value of the Professional Services reporting unit using a discounted cash flow valuation model. This model requires estimates of future revenues, profits, capital expenditures, working capital, and a terminal value based on a residual cash flow valuation model. We estimated this amount by evaluating historical trends, current budgets and operating plans. Based on a comparison of the estimated fair value to the carrying value of the Professional Services reporting unit as of June 30, 2023, no impairment was required. After combining the reporting units, we performed a step zero qualitative assessment on the combined goodwill balance and determined that it is more likely than not that the fair value of the combined reporting unit exceeds its carrying value and no further impairment testing is required. Goodwill and acquired intangible assets consisted of the following: (in thousands) June 30, 2023 September 30, 2022 Gross Accumulated Net Book Gross Accumulated Net Book Goodwill (not amortized) $ 3,377,319 $ 2,353,654 Intangible assets with finite lives (amortized): Purchased software $ 617,241 $ 386,917 $ 230,324 $ 502,859 $ 355,857 $ 147,002 Capitalized software 22,877 22,877 — 22,877 22,877 — Customer lists and relationships 1,116,980 406,177 710,803 594,970 369,390 225,580 Trademarks and trade names 37,005 19,012 17,993 27,546 17,410 10,136 Other 3,912 3,912 — 3,766 3,766 — Total intangible assets with finite lives $ 1,798,015 $ 838,895 $ 959,120 $ 1,152,018 $ 769,300 $ 382,718 Total goodwill and acquired intangible assets $ 4,336,439 $ 2,736,372 Goodwill Changes in goodwill were as follows: (in thousands) Balance, October 1, 2022 $ 2,353,654 Acquisitions 979,349 Foreign currency translation adjustment 44,316 Balance, June 30, 2023 $ 3,377,319 Amortization of Intangible Assets The aggregate amortization expense for intangible assets with finite lives is classified in our Consolidated Statements of Operations as follows: (in thousands) Three months ended Nine months ended June 30, June 30, June 30, June 30, Amortization of acquired intangible assets $ 10,670 $ 8,931 $ 29,352 $ 25,865 Cost of revenue 9,841 6,596 25,817 19,010 Total amortization expense $ 20,511 $ 15,527 $ 55,169 $ 44,875

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	8. Fair Value Measurements 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. Time deposits and corporate notes/bonds are classified within Level 1 of the fair value hierarchy because they are valued based on quoted market prices in active markets. The principal market in which we execute our foreign currency derivatives is the institutional market in an over-the-counter environment with a relatively high level of price transparency. The market participants usually are large financial institutions. Our foreign currency derivatives’ valuation inputs are based on quoted prices and quoted pricing intervals from public data sources and do not involve management judgment. These contracts are typically classified within Level 2 of the fair value hierarchy. Our significant financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2023 and September 30, 2022 were as follows: (in thousands) June 30, 2023 Level 1 Level 2 Level 3 Total Financial assets: Cash equivalents (1) $ 70,583 $ — $ — $ 70,583 Convertible note — — 2,000 2,000 Forward contracts — 1,747 — 1,747 Options — 594 — 594 $ 70,583 $ 2,341 $ 2,000 $ 74,924 Financial liabilities: Forward contracts — 1,537 — 1,537 $ — $ 1,537 $ — $ 1,537 (in thousands) September 30, 2022 Level 1 Level 2 Level 3 Total Financial assets: Cash equivalents (1) $ 102,313 $ — $ — $ 102,313 Convertible note — — 2,000 2,000 Forward contracts — 9,058 — 9,058 $ 102,313 $ 9,058 $ 2,000 $ 113,371 Financial liabilities: Forward contracts — 2,908 — 2,908 $ — $ 2,908 $ — $ 2,908 (1) Money market funds and time deposits. Level 3 Investments Convertible Note In the fourth quarter of 2021, we invested $ 2.0 million in a non-marketable convertible note. This debt security is classified as available-for-sale and is included in Other assets on the Consolidated Balance Sheet. There were no changes in the fair value of this level 3 investment in the three and nine months ended June 30, 2023. Non-Marketable Equity Investments The carrying value of our non-marketable equity investments is recorded in Other assets on the Consolidated Balance Sheets and totaled $ 6.1 million as of June 30, 2023 and $ 1.0 million as of September 30, 2022. Equity Securities During the nine months ended June 30, 2022, we recognized a loss of $ 34.8 million in Other income (expense), net related to fluctuations in the value of equity securities we held in Matterport, Inc. All shares owned in Matterport were sold in the second quarter of 2022 for an aggregate price of $ 42.7 million. We did not hold any equity securities as of June 30, 2023 or September 30, 2022 .

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	9. Derivative Financial Instruments We enter into derivative transactions, specifically foreign currency forward contracts and options, to manage our exposure to foreign currency exchange risk in order to reduce earnings volatility. We do not enter into derivative transactions for trading or speculative purposes. The following table shows our derivative instruments measured at gross fair value as reflected in the Consolidated Balance Sheets: (in thousands) Fair Value of Derivatives Designated As Hedging Instruments Fair Value of Derivatives Not Designated As Hedging Instruments June 30, September 30, June 30, September 30, Derivative assets (1) : Forward Contracts $ 773 $ 1,960 $ 974 $ 7,098 Options $ — $ — $ 594 $ — Derivative liabilities (2) : Forward Contracts $ — $ — $ 1,537 $ 2,908 (1) As of June 30, 2023 and September 30, 2022, current derivative assets of $ 2.3 million and $ 9.1 million, respectively, are recorded in Other current assets in the Consolidated Balance Sheets. (2) As of June 30, 2023 and September 30, 2022, current derivative liabilities of $ 1.5 million and $ 2.9 million, respectively, are recorded in Accrued expenses and other current liabilities in the Consolidated Balance Sheets. Non-Designated Hedges We 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, any gain or loss on the underlying foreign-denominated balance would be offset by the loss or gain on the forward contract. Gains and losses on forward contracts and foreign denominated receivables and payables are included in Other income (expense), net. We hedge our forecasted U.S. Dollar cash flows with foreign exchange options to reduce the risk that they will be adversely affected by changes in Euro or Japanese Yen exchange rates. These contracts have maturities of up to approximately nine months . We do not designate these foreign currency options as hedges for accounting purposes and changes in the fair value of these instruments are recognized immediately in earnings. Because we enter into options as an economic hedge, currency impacts on the Euro or Japanese Yen-denominated operations as compared to the forecasted plan rate may be partially offset by the gain on the put option. Gain on put options are included in Other income (expense), net. As of June 30, 2023 and September 30, 2022, we had outstanding forward contracts and options with notional amounts equivalent to the following: Currency Hedged (in thousands) June 30, September 30, Canadian Dollar / U.S. Dollar $ 9,470 $ 2,731 Euro / U.S. Dollar (1) 613,619 316,869 British Pound / U.S. Dollar 509 7,368 Israeli Shekel / U.S. Dollar 10,854 12,052 Japanese Yen / U.S. Dollar (2) 12,353 25,566 Swiss Franc / U.S. Dollar 6,002 25,559 Swedish Krona / U.S. Dollar 6,188 35,713 Singapore Dollar / U.S. Dollar — 3,637 Chinese Renminbi / U.S. Dollar 6,054 23,965 New Taiwan Dollar / U.S. Dollar 5,428 13,906 Korean Won/ U.S. Dollar — 4,919 Danish Krone/ U.S. Dollar 1,487 3,192 Australian Dollar/ U.S. Dollar 2,273 3,269 Hong Kong Dollar/U.S. Dollar 2,263 785 All other 2,464 3,647 Total $ 678,964 $ 483,178 (1) As of June 30, 2023, $ 573.8 million of the Euro to U.S. Dollar outstanding notional amount relates to forward contracts and $ 39.8 million relates to options. As of September 30, 2022, all the Euro to U.S. Dollar outstanding notional amount relates to forward contracts. (2) As of June 30, 2023, $ 1.5 million of the Japanese Yen to U.S. Dollar outstanding notional amount relates to forward contracts and $ 10.9 million relates to options. As of September 30, 2022, all the Japanese Yen to U.S. Dollar outstanding notional amount relates to forward contracts. The following table shows the effect of our non-designated hedges in the Consolidated Statements of Operations for the three and nine months ended June 30, 2023 and June 30, 2022: (in thousands) Three months ended Nine months ended Location of Gain (Loss) June 30, June 30, June 30, June 30, Net realized and unrealized gain (loss), excluding the underlying foreign currency exposure being hedged Other income (expense), net $ ( 1,006 ) $ 3,399 $ ( 13,437 ) $ 3,761 In the three months ended June 30, 2023 and June 30, 2022, foreign currency gains, net were $ 0.5 million and $ 0.9 million, respectively. In the nine months ended June 30, 2023 and June 30, 2022, foreign currency losses, net were $ 3.4 million and $ 3.1 million, respectively. Net Investment Hedges We translate balance sheet accounts of subsidiaries with foreign functional currencies into the U.S. Dollar using the exchange rate at each balance sheet date. Resulting translation adjustments are reported as a component of Accumulated other comprehensive loss on the Consolidated Balance Sheets. We designate certain foreign exchange forward contracts as net investment hedges against exposure on translation of balance sheet accounts of Euro and Japanese Yen functional subsidiaries. Net investment hedges partially offset the impact of foreign currency translation adjustment recorded in Accumulated other comprehensive loss on the Consolidated Balance Sheets. All foreign exchange forward contracts are carried at fair value on the Consolidated Balance Sheets and the maximum duration of net investment hedge foreign exchange forward contracts is approximately three months . Net investment hedge relationships are designated at inception, and effectiveness is assessed retrospectively on a quarterly basis using the net equity position of Euro and Japanese Yen functional subsidiaries. As the forward contracts are highly effective in offsetting exchange rate exposure, we record changes in these net investment hedges in Accumulated other comprehensive loss and subsequently reclassify them to foreign currency translation adjustment in Accumulated other comprehensive loss at the time of forward contract maturity. Changes in the fair value of foreign exchange forward contracts due to changes in time value are excluded from the assessment of effectiveness. Our derivatives are not subject to any credit contingent features. We manage credit risk with counterparties by trading among several counterparties and we review our counterparties’ credit at least quarterly. As of June 30, 2023 and September 30, 2022, we had outstanding forward contracts designated as net investment hedges with notional amounts equivalent to the following: Currency Hedged (in thousands) June 30, September 30, Euro / U.S. Dollar $ 236,246 $ 110,466 Japanese Yen / U.S. Dollar 10,575 — Total $ 246,821 $ 110,466 The following table shows the effect of our derivative instruments designated as net investment hedges in the Consolidated Statements of Operations for the three and nine months ended June 30, 2023 and June 30, 2022: (in thousands) Three months ended Nine months ended Location of Gain (Loss) June 30, June 30, June 30, June 30, Gain (loss) recognized in OCI OCI $ ( 695 ) $ 7,818 $ ( 18,663 ) $ 16,050 Gain (loss) reclassified from OCI to earnings n/a — — — — Gain recognized , excluded portion Other income (expense), net 1,124 515 3,272 1,124 As of June 30, 2023, we estimate that all amounts reported in Accumulated other comprehensive loss will be applied against exposed balance sheet accounts upon translation within the next three months. Offsetting Derivative Assets and Liabilities We have entered into master netting arrangements for our forward contracts that allow net settlements under certain conditions. Although netting is permitted, it is currently our policy and practice to record all derivative assets and liabilities on a gross basis in the Consolidated Balance Sheets. The following table sets forth the offsetting of derivative assets as of June 30, 2023: (in thousands) Gross Amounts Offset in the Consolidated Balance Sheets Gross Amounts Not Offset in the Consolidated Balance Sheets As of June 30, 2023 Gross Gross Net Amounts of Financial Cash Net Forward Contracts $ 1,747 $ — $ 1,747 $ ( 1,537 ) $ — $ 210 The following table sets forth the offsetting of derivative liabilities as of June 30, 2023: (in thousands) Gross Amounts Offset in the Consolidated Balance Sheets Gross Amounts Not Offset in the Consolidated Balance Sheets As of June 30, 2023 Gross Gross Net Amounts of Financial Cash Net Forward Contracts $ 1,537 $ — $ 1,537 $ ( 1,537 ) $ — $ —

Segment Information

Segment Information	9 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Segment Information	10. Segment Information In the third quarter of 2023, we reevaluated our operating segments to better align with how our CODM, who is our Chief Executive Officer, evaluates performance and allocates resources. The key factors evaluated included our organization structure, financial results reviewed by the CODM, and compensation structure, among others. As a result, we consolidated our operating segment structure from two segments to one. This change reflects our strategy to focus our professional services business on high-value services and to leverage partners to provide services, while delivering products that require fewer consulting and training services. Based on this change, we determined we have a single reportable segment.

Income Taxes

Income Taxes	9 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	11. Income Taxes (in thousands) Three months ended Nine months ended June 30, June 30, June 30, June 30, Income before income taxes $ 76,526 $ 100,778 $ 244,019 $ 259,720 Provision for income taxes $ 15,128 $ 30,302 $ 44,082 $ 53,476 Effective income tax rate 20 % 30 % 18 % 21 % The effective tax rate for the three and nine months ended June 30, 2023 was lower than the effective tax rate for the corresponding prior-year periods primarily due to $ 8.1 million of tax expense in the quarter ended June 30, 2022 arising from the basis difference on goodwill related to the sale of a portion of our PLM business. In the normal course of business, PTC and its subsidiaries are examined by various taxing authorities, including the Internal Revenue Service in the U.S. We regularly assess the likelihood of additional assessments by tax authorities and provide for these matters as appropriate. We are currently under audit by tax authorities in several jurisdictions. Audits by tax authorities typically involve examination of the deductibility of certain permanent items, transfer pricing, limitations on net operating losses and tax credits.

Debt

Debt	9 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Debt	12. Debt As of June 30, 2023 and September 30, 2022, we had the following long-term debt obligations: (in thousands) June 30, September 30, 4.000% Senior notes due 2028 $ 500,000 $ 500,000 3.625% Senior notes due 2025 500,000 500,000 Credit facility revolving line (1)(2) 245,000 359,000 Credit facility term loan (1)(2) 500,000 — Total debt 1,745,000 1,359,000 Unamortized debt issuance costs for the senior notes (3) ( 6,759 ) ( 8,372 ) Total debt, net of issuance costs $ 1,738,241 $ 1,350,628 (1) Unamortized debt issuance costs related to the credit facility were $ 2.3 million included in Other current assets and $ 8.1 million included in Other assets on the Consolidated Balance Sheet as of June 30, 2023 and $ 2.7 million included in Other assets on the Consolidated Balance Sheet as of September 30, 2022 . (2) Both the revolving line and the term loan will mature and all amounts then outstanding will become due and payable on January 3, 2028 , unless the 2025 notes have not been refinanced to mature on or after April 3, 2028, in which case the amounts will become due on November 16, 2024. The term loan will begin amortizing in March 2024, with payments of $ 9.4 million in 2024, $ 21.9 million in 2025, and $ 25.0 million in each year thereafter. (3) Unamortized debt issuance costs for the senior notes are included in Long-term debt on the Consolidated Balance Sheets. Senior Unsecured Notes In February 2020, we issued $ 500 million in aggregate principal amount of 4.0 % senior, unsecured long-term debt at par value, due in 2028 (the 2028 notes) and $ 500 million in aggregate principal amount of 3.625 % senior, unsecured long-term debt at par value, due in 2025 (the 2025 notes). As of June 30, 2023, the total estimated fair value of the 2028 and 2025 notes was approximately $ 463.8 million and $ 482.7 million, respectively, based on quoted prices for the notes on that date. We were in compliance with all the covenants for all our senior notes as of June 30, 2023. Credit Agreement In January 2023, we entered into an amended and restated credit agreement for a new secured multi-currency bank credit facility with a syndicate of banks. Pursuant to the agreement, all prior revolving commitments under the prior credit agreement were replaced with the revolving commitments under the new credit facility. The new credit facility consists of (i) a $ 1.25 billion revolving credit facility, (ii) a $ 500 million term loan credit facility, and (iii) an incremental facility pursuant to which we may incur additional term loan tranches or increase the revolving credit facility. As of June 30, 2023 , unused commitments under our credit facility were approximately $ 1,005 million. As of June 30, 2023, the fair value of our credit facility approximates its book value. PTC and certain eligible foreign subsidiaries are eligible borrowers under the credit facility. Any borrowings by PTC Inc. under the credit facility would be guaranteed by PTC Inc.’s material domestic subsidiaries that become parties to the subsidiary guaranty, if any. As of the filing of this Form 10-Q, ServiceMax, Inc. was the only subsidiary guarantor. Any borrowings by eligible foreign subsidiary borrowers would be guaranteed by PTC Inc. and any subsidiary guarantors and secured, subject to exceptions, by a first priority perfected security interest in substantially all existing and after-acquired personal property owned by PTC and its material domestic subsidiaries (except for certain indirect material domestic subsidiaries). As of the filing of this Form 10-Q, no funds were borrowed by an eligible foreign subsidiary borrower. Loans under the credit facility bear interest at variable rates that reset every 30 to 180 days depending on the base rate (for USD borrowings, either the adjusted Daily Simple RFR or adjusted Term SOFR) and period selected by us. The spread over the base rate depends on our total leverage ratio. As of June 30, 2023, the annual rate for borrowings outstanding was 6.93 % . A quarterly revolving commitment fee on the undrawn portion of the revolving credit facility is required, ranging from 0.175 % to 0.325 % per annum, based upon our total leverage ratio. The credit facility limits our ability to, among other things: incur additional indebtedness; incur liens or guarantee obligations; pay dividends and make other distributions; make investments and enter into joint ventures; dispose of assets; and engage in transactions with affiliates, except on an arms-length basis. Under the credit facility, PTC Inc. and its material domestic subsidiaries may not invest cash or property in, or loan amounts to, PTC’s foreign subsidiaries in aggregate amounts exceeding $ 100 million for purposes other than acquisitions of businesses. The credit facility also requires that we maintain certain financial ratios. As of June 30, 2023, we were in compliance with all financial and operating covenants of the credit facility. In the first nine months of 2023, we incurred $ 13.4 million in financing costs in connection with the January 2023 credit facility and related arrangements, of which $ 4.2 million (related to a since-extinguished bridge loan) was expensed in the period and $ 9.2 million is re corded as deferred debt issuance costs and included in Other assets and Other current assets on the Consolidated Balance Sheet. Deferred debt issuance costs are expensed over the term of the obligations. Interest In the third quarter and first nine months of 2023 , we incurred interest expense on our debt of $ 35.8 million and $ 93.7 million, respectively, and $ 13.8 million and $ 39.0 million in the third quarter and first nine months of 2022, respectively. Interest expense in the three and nine months ended June 30, 2023 includes $ 10.0 million and $ 20.0 million, respectively, of interest associated with the $ 620.0 million fair value of a $ 650.0 million deferred acquisition payment related to the ServiceMax acquisition. I n the third quarter and first nine months of 2023, we paid $ 22.6 million and $ 51.9 million of interest on our debt, respectively, and $ 2.1 million and $ 25.9 million in the third quarter and first nine months of 2022, respectively. The average interest rate on borrowings outstanding was approximately 5.2 % and 4.8 % during the third quarter and first nine months of 2023, respectively, and 3.4 % and 3.3 % during the third quarter and first nine months of 2022 , respectively.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	13. Commitments and Contingencies Guarantees and Indemnification Obligations We enter into standard indemnification agreements with our customers and business partners in the ordinary course of our business. Under such agreements, we typically indemnify, hold harmless, and agree to reimburse the indemnified party for losses suffered or incurred by the indemnified party, in connection with patent, copyright or other intellectual property infringement claims by any third party with respect to our products. Indemnification may also cover other types of claims, including claims relating to certain data breaches. These agreements typically limit our liability with respect to indemnification claims other than intellectual property infringement claims. Historically, our costs to defend lawsuits or settle claims relating to such indemnity agreements have been minimal and, accordingly, we believe the estimated fair value of liabilities under these agreements is immaterial. We warrant that our software products will perform in all material respects in accordance with our standard published specifications during the term of the license. Additionally, we generally warrant that our consulting services will be performed consistent with generally accepted industry standards and, in the case of fixed price services, the agreed-upon specifications. In most cases, liability for these warranties is capped. If necessary, we would provide for the estimated cost of product and service warranties based on specific warranty claims and claim history; however, we have not incurred significant cost under our product or services warranties. As a result, we believe the estimated fair value of these liabilities is immaterial.

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	9 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Contract Assets and Liabilities	Co ntract Assets and Contract Liabilities (in thousands) June 30, September 30, Short-term and long-term receivables $ 844,941 $ 870,962 Contract assets $ 17,826 $ 21,096 Deferred revenue $ 650,427 $ 520,333
Disaggregation of Revenue	Disaggregation of Revenue (in thousands) Three months ended Nine months ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Recurring revenue (1) $ 498,410 $ 415,197 $ 1,407,662 $ 1,273,032 Perpetual license 8,251 8,203 30,417 26,211 Professional services 35,681 39,074 112,354 126,179 Total revenue $ 542,342 $ 462,474 $ 1,550,433 $ 1,425,422 (1) Recurring revenue is comprised of on-premises subscription, perpetual support, SaaS, and cloud services revenue.
Summary of Revenue for Geographic Regions	Our international revenue is presented based on the location of our customer. Revenue for the geographic regions in which we operate is presented below. (in thousands) Three months ended Nine months ended June 30, June 30, June 30, June 30, Americas $ 278,329 $ 193,043 $ 761,617 $ 608,924 Europe 173,559 176,419 549,835 561,690 Asia Pacific 90,454 93,012 238,981 254,808 Total revenue $ 542,342 $ 462,474 $ 1,550,433 $ 1,425,422

Restructuring and Other Charg_2

Restructuring and Other Charges (Tables)	9 Months Ended
	Jun. 30, 2023
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Reserve by Type of Cost	Restructuring accrual balances as of June 30, 2023 and September 30, 2022 and activity for the nine months ended June 30, 2023 were immaterial. The following table summarizes restructuring accrual activity for the nine months ended June 30, 2022: (in thousands) Employee Severance and Related Benefits Facility Closures and Related Costs Total Accrual, October 1, 2021 $ 1,981 $ 3,505 $ 5,486 Charges (credits) to operations, net 33,471 ( 721 ) 32,750 Cash disbursements ( 31,965 ) ( 2,159 ) ( 34,124 ) Foreign exchange impact ( 550 ) — ( 550 ) Accrual, June 30, 2022 $ 2,937 $ 625 $ 3,562

Stock-based Compensation (Table

Stock-based Compensation (Tables)	9 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement, Recognized Amount [Abstract]
Schedule of Total Fair Value of RSUs Vested	(in thousands) Three months ended Nine months ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Stock issued for vested RSUs $ 79,129 $ 58,544 $ 235,430 $ 198,712
Schedule of Classification of Compensation Expense	Compensation expense recorded for our stock-based awards is classified in our Consolidated Statements of Operations as follows: (in thousands) Three months ended Nine months ended June 30, June 30, June 30, June 30, Cost of license revenue $ 53 $ 338 $ 141 $ 413 Cost of support and cloud services revenue 3,479 2,544 9,464 8,183 Cost of professional services revenue 2,315 5,547 6,063 10,069 Sales and marketing 14,513 14,029 39,554 38,556 Research and development 14,801 11,002 41,839 30,682 General and administrative 18,657 15,960 50,507 45,380 Total stock-based compensation expense $ 53,818 $ 49,420 $ 147,568 $ 133,283

Earnings per Share (EPS) and _2

Earnings per Share (EPS) and Common Stock (Tables)	9 Months Ended
	Jun. 30, 2023
Earnings Per Share And Common Stock [Abstract]
Earnings per Share Basic and Diluted	The following table presents the calculation for both basic and diluted EPS: (in thousands, except per share data) Three months ended Nine months ended June 30, June 30, June 30, June 30, Net income $ 61,398 $ 70,476 $ 199,937 $ 206,244 Weighted-average shares outstanding—Basic 118,483 117,073 118,186 117,114 Dilutive effect of restricted stock units 909 895 886 983 Weighted-average shares outstanding—Diluted 119,392 117,968 119,072 118,097 Earnings per share—Basic $ 0.52 $ 0.60 $ 1.69 $ 1.76 Earnings per share—Diluted $ 0.51 $ 0.60 $ 1.68 $ 1.75

Acquisitions and Disposition of

Acquisitions and Disposition of Business (Tables)	9 Months Ended
	Jun. 30, 2023
Business Acquisition [Line Items]
Unaudited Pro Forma Financial Information	The unaudited pro forma financial information for the three and nine months ended June 30, 2023 and 2022 presented below combines the historical results of PTC for those periods and the historical results of ServiceMax for the three and nine months ended July 31, 2022, respectively, and the effects of the pro forma adjustments listed above. (in thousands) Pro forma three months ended Pro forma nine months ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Revenue $ 542,342 $ 506,367 $ 1,594,118 $ 1,550,767 Net income $ 61,398 $ 59,905 $ 193,834 $ 136,495
Servicemax Inc. acquisition
Business Acquisition [Line Items]
Schedule of purchase price allocation	The following table sets forth the preliminary purchase price allocation for ServiceMax. We have also recorded a liability of $ 620.0 million related to the fair value of the $ 650.0 million deferred purchase price payment. (in thousands) Goodwill (1) $ 979,349 Customer relationships 509,200 Purchased software 106,900 Accounts receivable 58,722 Trademarks 9,000 Other net assets 5,540 Net tax liability (1) ( 122,654 ) Deferred revenue ( 97,829 ) Total $ 1,448,228 (1) Includes a measurement period adjustment of $ 4.2 million to Goodwill and $( 4.2 ) million to Net tax liability in the third quarter of 2023 related to deferred tax liabilities.

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill and Acquired Intangible Assets	Goodwill and acquired intangible assets consisted of the following: (in thousands) June 30, 2023 September 30, 2022 Gross Accumulated Net Book Gross Accumulated Net Book Goodwill (not amortized) $ 3,377,319 $ 2,353,654 Intangible assets with finite lives (amortized): Purchased software $ 617,241 $ 386,917 $ 230,324 $ 502,859 $ 355,857 $ 147,002 Capitalized software 22,877 22,877 — 22,877 22,877 — Customer lists and relationships 1,116,980 406,177 710,803 594,970 369,390 225,580 Trademarks and trade names 37,005 19,012 17,993 27,546 17,410 10,136 Other 3,912 3,912 — 3,766 3,766 — Total intangible assets with finite lives $ 1,798,015 $ 838,895 $ 959,120 $ 1,152,018 $ 769,300 $ 382,718 Total goodwill and acquired intangible assets $ 4,336,439 $ 2,736,372
Schedule of Changes in Goodwill by Reportable Segments	Changes in goodwill were as follows: (in thousands) Balance, October 1, 2022 $ 2,353,654 Acquisitions 979,349 Foreign currency translation adjustment 44,316 Balance, June 30, 2023 $ 3,377,319
Schedule of Aggregate Amortization Expense for Intangible Assets with Finite Lives	The aggregate amortization expense for intangible assets with finite lives is classified in our Consolidated Statements of Operations as follows: (in thousands) Three months ended Nine months ended June 30, June 30, June 30, June 30, Amortization of acquired intangible assets $ 10,670 $ 8,931 $ 29,352 $ 25,865 Cost of revenue 9,841 6,596 25,817 19,010 Total amortization expense $ 20,511 $ 15,527 $ 55,169 $ 44,875

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value, by Balance Sheet Grouping	Our significant financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2023 and September 30, 2022 were as follows: (in thousands) June 30, 2023 Level 1 Level 2 Level 3 Total Financial assets: Cash equivalents (1) $ 70,583 $ — $ — $ 70,583 Convertible note — — 2,000 2,000 Forward contracts — 1,747 — 1,747 Options — 594 — 594 $ 70,583 $ 2,341 $ 2,000 $ 74,924 Financial liabilities: Forward contracts — 1,537 — 1,537 $ — $ 1,537 $ — $ 1,537 (in thousands) September 30, 2022 Level 1 Level 2 Level 3 Total Financial assets: Cash equivalents (1) $ 102,313 $ — $ — $ 102,313 Convertible note — — 2,000 2,000 Forward contracts — 9,058 — 9,058 $ 102,313 $ 9,058 $ 2,000 $ 113,371 Financial liabilities: Forward contracts — 2,908 — 2,908 $ — $ 2,908 $ — $ 2,908 (1) Money market funds and time deposits.

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	9 Months Ended
	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The following table shows our derivative instruments measured at gross fair value as reflected in the Consolidated Balance Sheets: (in thousands) Fair Value of Derivatives Designated As Hedging Instruments Fair Value of Derivatives Not Designated As Hedging Instruments June 30, September 30, June 30, September 30, Derivative assets (1) : Forward Contracts $ 773 $ 1,960 $ 974 $ 7,098 Options $ — $ — $ 594 $ — Derivative liabilities (2) : Forward Contracts $ — $ — $ 1,537 $ 2,908 (1) As of June 30, 2023 and September 30, 2022, current derivative assets of $ 2.3 million and $ 9.1 million, respectively, are recorded in Other current assets in the Consolidated Balance Sheets. (2) As of June 30, 2023 and September 30, 2022, current derivative liabilities of $ 1.5 million and $ 2.9 million, respectively, are recorded in Accrued expenses and other current liabilities in the Consolidated Balance Sheets.
Schedule of Notional Amounts of Outstanding Forward Contracts and Options	As of June 30, 2023 and September 30, 2022, we had outstanding forward contracts and options with notional amounts equivalent to the following: Currency Hedged (in thousands) June 30, September 30, Canadian Dollar / U.S. Dollar $ 9,470 $ 2,731 Euro / U.S. Dollar (1) 613,619 316,869 British Pound / U.S. Dollar 509 7,368 Israeli Shekel / U.S. Dollar 10,854 12,052 Japanese Yen / U.S. Dollar (2) 12,353 25,566 Swiss Franc / U.S. Dollar 6,002 25,559 Swedish Krona / U.S. Dollar 6,188 35,713 Singapore Dollar / U.S. Dollar — 3,637 Chinese Renminbi / U.S. Dollar 6,054 23,965 New Taiwan Dollar / U.S. Dollar 5,428 13,906 Korean Won/ U.S. Dollar — 4,919 Danish Krone/ U.S. Dollar 1,487 3,192 Australian Dollar/ U.S. Dollar 2,273 3,269 Hong Kong Dollar/U.S. Dollar 2,263 785 All other 2,464 3,647 Total $ 678,964 $ 483,178 (1) As of June 30, 2023, $ 573.8 million of the Euro to U.S. Dollar outstanding notional amount relates to forward contracts and $ 39.8 million relates to options. As of September 30, 2022, all the Euro to U.S. Dollar outstanding notional amount relates to forward contracts. (2) As of June 30, 2023, $ 1.5 million of the Japanese Yen to U.S. Dollar outstanding notional amount relates to forward contracts and $ 10.9 million relates to options. As of September 30, 2022, all the Japanese Yen to U.S. Dollar outstanding notional amount relates to forward contracts. As of June 30, 2023 and September 30, 2022, we had outstanding forward contracts designated as net investment hedges with notional amounts equivalent to the following: Currency Hedged (in thousands) June 30, September 30, Euro / U.S. Dollar $ 236,246 $ 110,466 Japanese Yen / U.S. Dollar 10,575 — Total $ 246,821 $ 110,466
Schedule of Net Gains and Losses on Foreign Currency Exposures	The following table shows the effect of our non-designated hedges in the Consolidated Statements of Operations for the three and nine months ended June 30, 2023 and June 30, 2022: (in thousands) Three months ended Nine months ended Location of Gain (Loss) June 30, June 30, June 30, June 30, Net realized and unrealized gain (loss), excluding the underlying foreign currency exposure being hedged Other income (expense), net $ ( 1,006 ) $ 3,399 $ ( 13,437 ) $ 3,761 The following table shows the effect of our derivative instruments designated as net investment hedges in the Consolidated Statements of Operations for the three and nine months ended June 30, 2023 and June 30, 2022: (in thousands) Three months ended Nine months ended Location of Gain (Loss) June 30, June 30, June 30, June 30, Gain (loss) recognized in OCI OCI $ ( 695 ) $ 7,818 $ ( 18,663 ) $ 16,050 Gain (loss) reclassified from OCI to earnings n/a — — — — Gain recognized , excluded portion Other income (expense), net 1,124 515 3,272 1,124
Schedule of Offsetting Assets	The following table sets forth the offsetting of derivative assets as of June 30, 2023: (in thousands) Gross Amounts Offset in the Consolidated Balance Sheets Gross Amounts Not Offset in the Consolidated Balance Sheets As of June 30, 2023 Gross Gross Net Amounts of Financial Cash Net Forward Contracts $ 1,747 $ — $ 1,747 $ ( 1,537 ) $ — $ 210
Schedule of Offsetting Liabilities	The following table sets forth the offsetting of derivative liabilities as of June 30, 2023: (in thousands) Gross Amounts Offset in the Consolidated Balance Sheets Gross Amounts Not Offset in the Consolidated Balance Sheets As of June 30, 2023 Gross Gross Net Amounts of Financial Cash Net Forward Contracts $ 1,537 $ — $ 1,537 $ ( 1,537 ) $ — $ —

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Summary of Income Taxes	(in thousands) Three months ended Nine months ended June 30, June 30, June 30, June 30, Income before income taxes $ 76,526 $ 100,778 $ 244,019 $ 259,720 Provision for income taxes $ 15,128 $ 30,302 $ 44,082 $ 53,476 Effective income tax rate 20 % 30 % 18 % 21 %

Debt (Tables)

Debt (Tables)	9 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Schedule of Long-term Debt Obligations	As of June 30, 2023 and September 30, 2022, we had the following long-term debt obligations: (in thousands) June 30, September 30, 4.000% Senior notes due 2028 $ 500,000 $ 500,000 3.625% Senior notes due 2025 500,000 500,000 Credit facility revolving line (1)(2) 245,000 359,000 Credit facility term loan (1)(2) 500,000 — Total debt 1,745,000 1,359,000 Unamortized debt issuance costs for the senior notes (3) ( 6,759 ) ( 8,372 ) Total debt, net of issuance costs $ 1,738,241 $ 1,350,628 (1) Unamortized debt issuance costs related to the credit facility were $ 2.3 million included in Other current assets and $ 8.1 million included in Other assets on the Consolidated Balance Sheet as of June 30, 2023 and $ 2.7 million included in Other assets on the Consolidated Balance Sheet as of September 30, 2022 . (2) Both the revolving line and the term loan will mature and all amounts then outstanding will become due and payable on January 3, 2028 , unless the 2025 notes have not been refinanced to mature on or after April 3, 2028, in which case the amounts will become due on November 16, 2024. The term loan will begin amortizing in March 2024, with payments of $ 9.4 million in 2024, $ 21.9 million in 2025, and $ 25.0 million in each year thereafter. (3) Unamortized debt issuance costs for the senior notes are included in Long-term debt on the Consolidated Balance Sheets.

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Schedule of Contract Assets and Contract Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Short-term and long-term receivables	$ 844,941	$ 870,962
Contract asset	17,826	21,096
Deferred revenue	$ 650,427	$ 520,333

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Additional Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Jun. 30, 2023	Sep. 30, 2022
Revenue from External Customer [Line Items]
Deferred revenue, revenue recognized	$ 457,000
Deferred revenue	650,427	$ 520,333
Refund liability	25,200	$ 34,200
Revenue, remaining performance obligation, amount	1,896,900
Unrecorded
Revenue from External Customer [Line Items]
Revenue, remaining performance obligation, amount	1,246,500
Servicemax Inc. acquisition
Revenue from External Customer [Line Items]
Deferred revenue increased	$ 97,800

Revenue from Contracts with C_5

Revenue from Contracts with Customers - Remaining Performance Obligations - Additional Information (Details) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2023-07-01	Jun. 30, 2023
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, percentage	58%
Revenue, remaining performance obligation, expected timing of satisfaction, period	12 months

Revenue from Contracts with C_6

Revenue from Contracts with Customers - Disaggregation of Revenue (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation Of Revenue [Line Items]
Revenue		$ 542,342	$ 462,474	$ 1,550,433	$ 1,425,422
Recurring revenue
Disaggregation Of Revenue [Line Items]
Revenue	[1]	498,410	415,197	1,407,662	1,273,032
Perpetual license
Disaggregation Of Revenue [Line Items]
Revenue		8,251	8,203	30,417	26,211
Professional services
Disaggregation Of Revenue [Line Items]
Professional services		$ 35,681	$ 39,074	$ 112,354	$ 126,179
[1] Recurring revenue is comprised of on-premises subscription, perpetual support, SaaS, and cloud services revenue.

Revenue from Contracts with C_7

Revenue from Contracts with Customers - Revenue By Geographic Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Revenue Reconciling Item [Line Items]
Total revenue	$ 542,342	$ 462,474	$ 1,550,433	$ 1,425,422
Operating Segments
Segment Reporting Revenue Reconciling Item [Line Items]
Total revenue	542,342	462,474	1,550,433	1,425,422
Americas | Operating Segments
Segment Reporting Revenue Reconciling Item [Line Items]
Total revenue	278,329	193,043	761,617	608,924
Europe | Operating Segments
Segment Reporting Revenue Reconciling Item [Line Items]
Total revenue	173,559	176,419	549,835	561,690
Asia-Pacific | Operating Segments
Segment Reporting Revenue Reconciling Item [Line Items]
Total revenue	$ 90,454	$ 93,012	$ 238,981	$ 254,808

Restructuring and Other Charg_3

Restructuring and Other Charges - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Jun. 30, 2022	Jun. 30, 2022
Lease Costs
Restructuring Cost And Reserve [Line Items]
Operating Lease, Payments	$ 0.7	$ 1.9

Restructuring and Other Charg_4

Restructuring and Other Charges - Schedule of Restructuring Reserve (Details) $ in Thousands	9 Months Ended
	Jun. 30, 2022 USD ($)
Restructuring Reserve [Roll Forward]
Accrual, beginning balance	$ 5,486
Charges (credits) to operations, net	32,750
Cash disbursements	(34,124)
Foreign exchange impact	(550)
Accrual, ending balance	3,562
Employee Severance and Related Benefits
Restructuring Reserve [Roll Forward]
Accrual, beginning balance	1,981
Charges (credits) to operations, net	33,471
Cash disbursements	(31,965)
Foreign exchange impact	(550)
Accrual, ending balance	2,937
Facility Closures and Related Costs
Restructuring Reserve [Roll Forward]
Accrual, beginning balance	3,505
Charges (credits) to operations, net	(721)
Cash disbursements	(2,159)
Foreign exchange impact	0
Accrual, ending balance	$ 625

Stock-based Compensation - Addi

Stock-based Compensation - Additional Information (Details) $ in Millions	Jun. 30, 2023 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Liability classified awards related to stock-based compensation	$ 30.1

Stock-based Compensation - Sche

Stock-based Compensation - Schedule of Total Fair Value of RSUs Vested (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-Based Payment Arrangement, Recognized Amount [Abstract]
Total fair value of RSU awards at vest	$ 79,129	$ 58,544	$ 235,430	$ 198,712

Stock-based Compensation - Sc_2

Stock-based Compensation - Schedule of Classification of Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 53,818	$ 49,420	$ 147,568	$ 133,283
Sales and marketing
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	14,513	14,029	39,554	38,556
Research and development
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	14,801	11,002	41,839	30,682
General and administrative
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	18,657	15,960	50,507	45,380
License | Cost of Sales
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	53	338	141	413
Support and cloud services | Cost of Sales
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	3,479	2,544	9,464	8,183
Professional services | Cost of Sales
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 2,315	$ 5,547	$ 6,063	$ 10,069

Earnings per Share (EPS) and _3

Earnings per Share (EPS) and Common Stock - Earnings per Share Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Earnings Per Share And Common Stock [Abstract]
Net Income (Loss)	$ 61,398	$ 70,476	$ 199,937	$ 206,244
Weighted-average shares outstanding—Basic	118,483	117,073	118,186	117,114
Dilutive effect of restricted stock units	909	895	886	983
Weighted-average shares outstanding—Diluted	119,392	117,968	119,072	118,097
Earnings per share—Basic	$ 0.52	$ 0.6	$ 1.69	$ 1.76
Earnings per share—Diluted	$ 0.51	$ 0.6	$ 1.68	$ 1.75

Earnings per Share (EPS) and _4

Earnings per Share (EPS) and Common Stock - Additional Information (Details) - shares	Jun. 30, 2023	Sep. 30, 2022
Earnings Per Share And Common Stock [Abstract]
Common stock, shares authorized	500,000,000	500,000,000

Acquisitions - Additional Infor

Acquisitions - Additional Information (Details) $ in Thousands			3 Months Ended			9 Months Ended
	Oct. 02, 2023 USD ($)	Jan. 03, 2023 USD ($) Employees	Jun. 30, 2023 USD ($)	Mar. 31, 2023	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jan. 31, 2023 USD ($)
Business Acquisition [Line Items]
Business combination, acquisition related costs			$ 800		$ 6,400	$ 18,500	$ 11,300
Payments to acquire business, net of cash acquired						828,271	274,974
Revenue			542,342		$ 462,474	1,550,433	$ 1,425,422
Line of Credit Facility, Maximum Borrowing Capacity								$ 1,250,000
Term Loan Facility
Business Acquisition [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		$ 500,000
Servicemax Inc. acquisition
Business Acquisition [Line Items]
Payments to acquire business, net of cash	$ 650,000	$ 828,200
Payments to acquire business, net of cash acquired	620,000
Imputed interest payable	$ 30,000
Number Of Employees | Employees		500
Revenue			46,600			91,700
Liability related to the fair value		$ 620,000
Deferred purchase price payment		650,000	$ 650,000			$ 650,000
Preliminary purchase price		1,448,200
Servicemax Inc. acquisition | Customer relationships
Business Acquisition [Line Items]
Acquired finite-lived intangible asset, weighted average useful life				19 years
Servicemax Inc. acquisition | Purchased Software
Business Acquisition [Line Items]
Acquired finite-lived intangible asset, weighted average useful life				10 years
Servicemax Inc. acquisition | Trademarks
Business Acquisition [Line Items]
Acquired finite-lived intangible asset, weighted average useful life				10 years
Servicemax Inc. acquisition | Revolving Credit Facility
Business Acquisition [Line Items]
Borrowings, Under New Credit Facility		$ 630,000

Acquisitions - Schedule of Purc

Acquisitions - Schedule of Purchase Price Allocation (Details) - USD ($) $ in Thousands		Jun. 30, 2023	Jan. 03, 2023	Sep. 30, 2022
Business Acquisition [Line Items]
Goodwill		$ 3,377,319		$ 2,353,654
Servicemax Inc. acquisition
Business Acquisition [Line Items]
Goodwill	[1]		$ 979,349
Accounts receivable			58,722
Other net assets			5,540
Net tax liability	[1]		(122,654)
Deferred revenue			(97,829)
Total			1,448,228
Customer relationships | Servicemax Inc. acquisition
Business Acquisition [Line Items]
Intangible assets			509,200
Purchased Software | Servicemax Inc. acquisition
Business Acquisition [Line Items]
Intangible assets			106,900
Trademarks | Servicemax Inc. acquisition
Business Acquisition [Line Items]
Intangible assets			$ 9,000
[1] Includes a measurement period adjustment of $ 4.2 million to Goodwill and $( 4.2 ) million to Net tax liability in the third quarter of 2023 related to deferred tax liabilities.

Acquisitions - Schedule of Pu_2

Acquisitions - Schedule of Purchase Price Allocation (Parenthetical) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2023	Sep. 30, 2022
Business Acquisition [Line Items]
Deferred tax liabilities	$ (35,077)	$ (28,396)
Servicemax Inc. acquisition
Business Acquisition [Line Items]
Deferred tax liabilities	(4,200)
Goodwill period adjustment	$ 4,200

Acquisitions - Schedule of Unau

Acquisitions - Schedule of Unaudited Pro Forma Financial Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Business Acquisition [Line Items]
Revenue	$ 542,342	$ 506,367	$ 1,594,118	$ 1,550,767
Net income	$ 61,398	$ 59,905	$ 193,834	$ 136,495

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Additional Information (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Sep. 30, 2022
Goodwill and acquired intangible assets	$ 4,336,439	$ 2,736,372
Goodwill	3,377,319	$ 2,353,654
Software Products
Goodwill	3,367,500
Professional Services
Goodwill	$ 9,800

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Schedule of Goodwill and Acquired Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Sep. 30, 2022
Goodwill (not amortized)	$ 3,377,319	$ 2,353,654
Intangible assets with finite lives (amortized), Gross Carrying Amount	1,798,015	1,152,018
Intangible assets with finite lives (amortized), Accumulated Amortization	838,895	769,300
Intangible assets with finite lives (amortized), Net Book Value	959,120	382,718
Intangible Assets, Net (Including Goodwill)	4,336,439	2,736,372
Purchased Software
Intangible assets with finite lives (amortized), Gross Carrying Amount	617,241	502,859
Intangible assets with finite lives (amortized), Accumulated Amortization	386,917	355,857
Intangible assets with finite lives (amortized), Net Book Value	230,324	147,002
Capitalized Software
Intangible assets with finite lives (amortized), Gross Carrying Amount	22,877	22,877
Intangible assets with finite lives (amortized), Accumulated Amortization	22,877	22,877
Intangible assets with finite lives (amortized), Net Book Value	0	0
Customer Lists and Relationships
Intangible assets with finite lives (amortized), Gross Carrying Amount	1,116,980	594,970
Intangible assets with finite lives (amortized), Accumulated Amortization	406,177	369,390
Intangible assets with finite lives (amortized), Net Book Value	710,803	225,580
Trademarks and Trade Names
Intangible assets with finite lives (amortized), Gross Carrying Amount	37,005	27,546
Intangible assets with finite lives (amortized), Accumulated Amortization	19,012	17,410
Intangible assets with finite lives (amortized), Net Book Value	17,993	10,136
Other
Intangible assets with finite lives (amortized), Gross Carrying Amount	3,912	3,766
Intangible assets with finite lives (amortized), Accumulated Amortization	3,912	3,766
Intangible assets with finite lives (amortized), Net Book Value	$ 0	$ 0

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Schedule of Changes in Goodwill by Reportable Segments (Details) $ in Thousands	9 Months Ended
	Jun. 30, 2023 USD ($)
Goodwill [Line Items]
Balance, October 1, 2022	$ 2,353,654
Foreign currency translation adjustment	44,316
Balance, June 30, 2023	3,377,319
Servicemax acquisition
Goodwill [Line Items]
Goodwill, acquired	979,349
Software Products
Goodwill [Line Items]
Balance, June 30, 2023	3,367,500
Professional Services
Goodwill [Line Items]
Balance, June 30, 2023	$ 9,800

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Schedule of Aggregate Amortization Expense for Intangible Assets with Finite Lives (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of acquired intangible assets	$ 10,670	$ 8,931	$ 29,352	$ 25,865
Cost of revenue	9,841	6,596	25,817	19,010
Total amortization expense	$ 20,511	$ 15,527	$ 55,169	$ 44,875

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Financial Assets and Liabilities Measured at Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Sep. 30, 2022
Financial assets:
Cash equivalents	$ 70,583	$ 102,313
Convertible note	$ 2,000	$ 2,000
Derivative Asset Statement of Financial Position Extensible Enumeration	Other liabilities	Other assets
Financial assets, fair value	$ 74,924	$ 113,371
Financial liabilities:
Derivative Liability Statement Of Financial Position Extensible Enumeration	Other assets	Other liabilities
Financial liabilities, fair value	$ 1,537	$ 2,908
Options Member
Financial assets:
Foreign currency contract, asset	594
Forward Contracts
Financial assets:
Foreign currency contract, asset	1,747	9,058
Financial liabilities:
Foreign currency contracts, liability	1,537	2,908
Level 1
Financial assets:
Cash equivalents	70,583	102,313
Convertible note	0	0
Financial assets, fair value	70,583	102,313
Financial liabilities:
Financial liabilities, fair value	0	0
Level 1 | Options Member
Financial assets:
Foreign currency contract, asset	0
Level 1 | Forward Contracts
Financial assets:
Foreign currency contract, asset	0	0
Financial liabilities:
Foreign currency contracts, liability	0	0
Level 2
Financial assets:
Cash equivalents	0	0
Convertible note	0	0
Financial assets, fair value	2,341	9,058
Financial liabilities:
Financial liabilities, fair value	1,537	2,908
Level 2 | Options Member
Financial assets:
Foreign currency contract, asset	594
Level 2 | Forward Contracts
Financial assets:
Foreign currency contract, asset	1,747	9,058
Financial liabilities:
Foreign currency contracts, liability	1,537	2,908
Level 3
Financial assets:
Cash equivalents	0	0
Convertible note	2,000	2,000
Financial assets, fair value	2,000	2,000
Financial liabilities:
Financial liabilities, fair value	0	0
Level 3 | Options Member
Financial assets:
Foreign currency contract, asset	0
Level 3 | Forward Contracts
Financial assets:
Foreign currency contract, asset	0	0
Financial liabilities:
Foreign currency contracts, liability	$ 0	$ 0

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022	Sep. 30, 2022	Sep. 30, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net Income (Loss)	$ 61,398	$ 70,476		$ 199,937	$ 206,244
Non-marketable equity investments	6,100			6,100		$ 1,000
Matterport, Inc. | Equity Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net Income (Loss)					$ 34,800
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amount invested into non-marketable convertible note							$ 2,000
Changes in fair value	$ 0			$ 0
Level 3 | Matterport, Inc. | Equity Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets recognized at fair value			$ 42,700

Derivative Financial Instrume_3

Derivative Financial Instruments - Schedule of Derivative Financial Instruments at Gross Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Sep. 30, 2022
Designated as Hedging Instrument | Forward Contracts
Derivative [Line Items]
Gross Amount of Recognized Assets	$ 773	$ 1,960
Gross Amount of Recognized Liabilities	0	0
Designated as Hedging Instrument | Options
Derivative [Line Items]
Gross Amount of Recognized Assets	0	0
Not Designated as Hedging Instrument | Forward Contracts
Derivative [Line Items]
Fair Value of Derivatives Not Designated As Hedging Instruments	974	7,098
Fair Value of Derivatives Not Designated As Hedging Instruments	1,537	2,908
Not Designated as Hedging Instrument | Options
Derivative [Line Items]
Fair Value of Derivatives Not Designated As Hedging Instruments	$ 594	$ 0

Derivative Financial Instrume_4

Derivative Financial Instruments - Schedule of Derivative Financial Instruments at Gross Fair Value (Parentheticals) (Details) - Forward Contracts - USD ($) $ in Millions	Jun. 30, 2023	Sep. 30, 2022
Other Current Assets
Derivative [Line Items]
Gross Amount of Recognized Assets	$ 2.3	$ 9.1
Other Current Liabilities
Derivative [Line Items]
Gross Amount of Recognized Liabilities	$ 1.5	$ 2.9

Derivative Financial Instrume_5

Derivative Financial Instruments - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Derivative [Line Items]
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments	$ 0.5	$ 0.9	$ 3.4	$ 3.1
Maximum | Forward Contracts | Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative, remaining maturity	3 months		3 months
Maximum | Forward Contracts | Designated as Hedging Instrument | Net Investment Hedging
Derivative [Line Items]
Derivative, remaining maturity	3 months		3 months
Maximum | Foreign Exchange Options | Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative, remaining maturity	9 months		9 months

Derivative Financial Instrume_6

Derivative Financial Instruments - Schedule of Notional Amounts of Outstanding Forward Contracts and Options (Details) - Not Designated as Hedging Instrument - Foreign Exchange Forward Contract and Options - USD ($) $ in Thousands		Jun. 30, 2023	Sep. 30, 2022
Derivative [Line Items]
Notional amount		$ 0	$ 483,178
Canadian / U.S. Dollar
Derivative [Line Items]
Notional amount		9,470	2,731
Euro / U.S. Dollar
Derivative [Line Items]
Notional amount	[1]	613,619	316,869
British Pound / U.S. Dollar
Derivative [Line Items]
Notional amount		509	7,368
Israeli Shekel / U.S. Dollar
Derivative [Line Items]
Notional amount		10,854	12,052
JPY/ U.S Dollar
Derivative [Line Items]
Notional amount	[2]	12,353	25,566
Swiss Franc / U.S. Dollar
Derivative [Line Items]
Notional amount		6,002	25,559
Swedish Krona / U.S. Dollar
Derivative [Line Items]
Notional amount		6,188	35,713
Singapore Dollar / U.S. Dollar
Derivative [Line Items]
Notional amount		0	3,637
Chinese Renminbi / U.S. Dollar
Derivative [Line Items]
Notional amount		6,054	23,965
New Taiwan Dollar / U.S. Dollar
Derivative [Line Items]
Notional amount		5,428	13,906
Korea Won/ U.S. Dollar
Derivative [Line Items]
Notional amount		0	4,919
Danish krone/ U.S. Dollar
Derivative [Line Items]
Notional amount		1,487	3,192
Australian Dollar/ U.S. Dollar
Derivative [Line Items]
Notional amount		2,273	3,269
Hong Kong Dollar/U.S Dollar
Derivative [Line Items]
Notional amount		2,263	785
All other
Derivative [Line Items]
Notional amount		$ 2,464	$ 3,647
[1] As of June 30, 2023, $ 573.8 million of the Euro to U.S. Dollar outstanding notional amount relates to forward contracts and $ 39.8 million relates to options. As of September 30, 2022, all the Euro to U.S. Dollar outstanding notional amount relates to forward contracts. As of June 30, 2023, $ 1.5 million of the Japanese Yen to U.S. Dollar outstanding notional amount relates to forward contracts and $ 10.9 million relates to options. As of September 30, 2022, all the Japanese Yen to U.S. Dollar outstanding notional amount relates to forward contracts.

Derivative Financial Instrume_7

Derivative Financial Instruments - Schedule of Notional Amounts of Outstanding Forward Contracts and Options (Parenthetical) (Details) - Not Designated as Hedging Instrument $ in Millions	Jun. 30, 2023 USD ($)
Foreign Exchange Forward | Euro / U.S. Dollar
Derivative [Line Items]
Notional amount	$ 573.8
Foreign Exchange Forward | JPY/ U.S Dollar
Derivative [Line Items]
Notional amount	1.5
Options | Euro / U.S. Dollar
Derivative [Line Items]
Notional amount	39.8
Options | JPY/ U.S Dollar
Derivative [Line Items]
Notional amount	$ 10.9

Derivative Financial Instrume_8

Derivative Financial Instruments - Schedule of Derivative Instruments and Hedging Activities Disclosures (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Derivative Instruments Gain Loss [Line Items]
Gain (loss) recognized in OCI	$ 521	$ 5,880	$ 14,005	$ 12,072
Derivative, Excluded Component, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Nonoperating Income (Expense)	Nonoperating Income (Expense)	Nonoperating Income (Expense)	Nonoperating Income (Expense)
Foreign Exchange Forward Contract and Options | Not Designated as Hedging Instrument | Other income (expense), net
Derivative Instruments Gain Loss [Line Items]
Net realized and unrealized gain (loss), excluding the underlying foreign currency exposure being hedged	$ (1,006)	$ 3,399	$ (13,437)	$ 3,761
Forward Contracts | Designated as Hedging Instrument | Net Investment Hedging
Derivative Instruments Gain Loss [Line Items]
Gain (loss) recognized in OCI	(695)	7,818	(18,663)	16,050
Gain (loss) reclassified from OCI to earnings	0	0	0	0
Gain recognized, excluded portion	$ 1,124	$ 515	$ 3,272	$ 1,124

Derivative Financial Instrume_9

Derivative Financial Instruments - Schedule of Notional Amounts of Outstanding Forward Contracts (Details) - Forward Contracts - Designated as Hedging Instrument - Net Investment Hedging - USD ($) $ in Thousands	Jun. 30, 2023	Sep. 30, 2022
Derivative [Line Items]
Notional amount	$ 246,821	$ 110,466
Euro / U.S. Dollar
Derivative [Line Items]
Notional amount	236,246	110,466
Japanese Yen / U.S. Dollar
Derivative [Line Items]
Notional amount	$ 10,575	$ 0

Derivative Financial Instrum_10

Derivative Financial Instruments - Schedule of Offsetting Assets (Details) - Foreign Currency Forwards $ in Thousands	Jun. 30, 2023 USD ($)
Derivative [Line Items]
Gross Amount of Recognized Assets	$ 1,747
Gross Amounts Offset in the Consolidated Balance Sheets	0
Net Amounts of Assets Presented in the Consolidated Balance Sheets	1,747
Gross Amounts Not Offset in the Consolidated Balance Sheets, Financial Instruments	(1,537)
Gross Amounts Not Offset in the Consolidated Balance Sheets, Cash Collateral Received	0
Net Amount	$ 210

Derivative Financial Instrum_11

Derivative Financial Instruments - Schedule of Offsetting Liabilities (Details) - Foreign Currency Forwards $ in Thousands	Jun. 30, 2023 USD ($)
Derivative [Line Items]
Gross Amount of Recognized Liabilities	$ 1,537
Gross Amounts Offset in the Consolidated Balance Sheets	0
Net Amounts of Liabilities Presented in the Consolidated Balance Sheets	1,537
Gross Amounts Not Offset in the Consolidated Balance Sheets, Financial Instruments	(1,537)
Gross Amounts Not Offset in the Consolidated Balance Sheets, Cash Collateral Pledged	0
Net Amount	$ 0

Income Taxes - Summary of Incom

Income Taxes - Summary of Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income before income taxes	$ 76,526	$ 100,778	$ 244,019	$ 259,720
Provision for income taxes	$ 15,128	$ 30,302	$ 44,082	$ 53,476
Effective income tax rate	20%	30%	18%	21%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) $ in Millions	3 Months Ended
	Jun. 30, 2022 USD ($)
Income Tax Disclosure [Line Items]
Tax deductible goodwill	$ 8.1

Debt - Schedule of Long-term De

Debt - Schedule of Long-term Debt Obligations (Details) - USD ($)		Jun. 30, 2023	Sep. 30, 2022	Feb. 13, 2020
Debt Instrument [Line Items]
Total debt		$ 1,745,000,000	$ 1,359,000,000
Unamortized debt issuance costs for the senior notes	[1]	(6,759,000)	(8,372,000)
Total debt, net of issuance costs		1,738,241,000	1,350,628,000
4.000% Senior Notes Due 2028
Debt Instrument [Line Items]
Senior Notes				$ 500,000,000
3.625% Senior Notes Due 2025
Debt Instrument [Line Items]
Senior Notes				$ 500,000,000
Long-term Debt [Member] | Line of Credit
Debt Instrument [Line Items]
Credit facility revolvering line	[2],[3]	245,000,000	359,000,000
Credit facility term loan	[2],[3]	500,000,000	0
Long-term Debt [Member] | 4.000% Senior Notes Due 2028
Debt Instrument [Line Items]
Senior Notes		500,000,000	500,000,000
Long-term Debt [Member] | 3.625% Senior Notes Due 2025
Debt Instrument [Line Items]
Senior Notes		$ 500,000,000	$ 500,000,000
[1] Unamortized debt issuance costs for the senior notes are included in Long-term debt on the Consolidated Balance Sheets. Both the revolving line and the term loan will mature and all amounts then outstanding will become due and payable on January 3, 2028 , unless the 2025 notes have not been refinanced to mature on or after April 3, 2028, in which case the amounts will become due on November 16, 2024. The term loan will begin amortizing in March 2024, with payments of $ 9.4 million in 2024, $ 21.9 million in 2025, and $ 25.0 million in each year thereafter. Unamortized debt issuance costs related to the credit facility were $ 2.3 million included in Other current assets and $ 8.1 million included in Other assets on the Consolidated Balance Sheet as of June 30, 2023 and $ 2.7 million included in Other assets on the Consolidated Balance Sheet as of September 30, 2022 .

Debt - Schedule of Long-term _2

Debt - Schedule of Long-term Debt Obligations (Parenthetical) (Details) - USD ($) $ in Thousands		9 Months Ended
		Jun. 30, 2023	Sep. 30, 2022	Feb. 13, 2020
Debt Instrument [Line Items]
Unamortized Debt Issuance Expense	[1]	$ 6,759	$ 8,372
3.625% Senior Notes Due 2025
Debt Instrument [Line Items]
Interest rate				3.625%
Line of Credit
Debt Instrument [Line Items]
Credit facility maturity date		Jan. 03, 2028
Long term debt maturity repayments year one		$ 9,400
Long term debt maturity repayments year two		21,900
Long term debt maturity repayments year three		25,000
Long term debt maturity repayments year four		25,000
Long term debt maturity repayments year five		25,000
Long term debt maturity repayments after year five		25,000
Other Current Assets | Line of Credit
Debt Instrument [Line Items]
Unamortized Debt Issuance Expense		2,300
Other Noncurrent Assets | Line of Credit
Debt Instrument [Line Items]
Unamortized Debt Issuance Expense		$ 8,100	$ 2,700
[1] Unamortized debt issuance costs for the senior notes are included in Long-term debt on the Consolidated Balance Sheets.

Debt - Senior Notes - Additiona

Debt - Senior Notes - Additional Information (Details) - USD ($) $ in Millions	Jun. 30, 2023	Feb. 13, 2020
4.000% Senior Notes Due 2028
Debt Instrument [Line Items]
Senior Notes		$ 500
Interest rate		4%
4.000% Senior Notes Due 2028 | Senior Notes
Debt Instrument [Line Items]
Fair value amount	$ 463.8
3.625% Senior Notes Due 2025
Debt Instrument [Line Items]
Senior Notes		$ 500
Interest rate		3.625%
3.625% Senior Notes Due 2025 | Senior Notes
Debt Instrument [Line Items]
Fair value amount	$ 482.7

Debt - Credit Agreement - Addit

Debt - Credit Agreement - Additional Information (Details) - USD ($) $ in Millions			3 Months Ended		9 Months Ended
	Oct. 02, 2023	Jan. 03, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Jan. 31, 2023	Feb. 13, 2020
Debt Instrument [Line Items]
Credit facility amount							$ 1,250
Deferred debt issuance cost			$ 9.2		$ 9.2
Financing cost current			4.2		4.2
Periodic interest payment			$ 22.6	$ 2.1	$ 51.9	$ 25.9
Interest rate during period			5.20%	3.40%	4.80%	3.30%
Interest expense			$ 35.8	$ 13.8	$ 93.7	$ 39
Servicemax Inc. acquisition
Debt Instrument [Line Items]
Fair value adjustments related to acquisition					620
Payments to acquire business, net of cash	$ 650	$ 828.2
Deferred purchase price payment		$ 650	650		650
Interest expense			10		20
3.625% Senior Notes Due 2025
Debt Instrument [Line Items]
Interest rate								3.625%
Line of Credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity expansion amount							$ 500
Unused commitments under credit facility			1,005		$ 1,005
Credit facility maturity date					Jan. 03, 2028
Investment limit in foreign subsidiaries			$ 100		$ 100
Financing costs					$ 13.4
Line of Credit | Minimum
Debt Instrument [Line Items]
Variable interest rate, length of time between updates					30 days
Credit facility commitment fees percentage					0.175%
Line of Credit | Maximum
Debt Instrument [Line Items]
Variable interest rate, length of time between updates					180 days
Credit facility commitment fees percentage					0.325%
Secured Debt | Revolving Loan, Reset Period One
Debt Instrument [Line Items]
Annual rate for borrowings outstanding			6.93%		6.93%