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Revenue from Contracts with Customers | 12 Months Ended
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Sep. 30, 2024
Revenue from Contract with Customer [Abstract] |
Revenue from Contracts with Customers | 3. Revenue from Contracts with Customers Receivables, Contract Assets, and Contract Liabilities
(in thousands) |  | September 30, |
|  | 2024 |  |  | 2023 |
Short-term and long-term receivables |  | $ | 1,062,052 |  |  | $ | 997,490 |
Contract asset |  | $ | 14,410 |  |  | $ | 16,465 |
Deferred revenue |  | $ | 775,274 |  |  | $ | 681,550 |
As of September 30, 2024, $14.4 million of our contract assets are expected to be transferred to receivables within the next 12 months and therefore are included in Other current assets. As of September 30, 2023, $16.1 million of our contract asset balance was included in Other current assets with the remainder included in Other assets. Approximately $12.3 million of the September 30, 2023 contract asset balance was transferred to receivables during the year ended September 30, 2024 as a result of the right to payment becoming unconditional. Additions to contract asset of approximately $10.2 million primarily related to revenue recognized in the period, net of billings. There were no impairments of contract assets in the year ended September 30, 2024. During the year ended September 30, 2024, we recognized $645.5 million of revenue that was included in deferred revenue as of September 30, 2023. There were additional deferrals of $738.2 million, primarily related to new billings. For subscription contracts, we generally invoice customers annually. Costs to Obtain or Fulfill a Contract We recognize an asset for the incremental costs of obtaining a contract with a customer if the benefit of those costs is expected to be longer than one year. These deferred costs (primarily commissions) are amortized proportionately related to revenue over 5 years, which is generally longer than the term of the initial contract because of anticipated renewals as commissions for renewals are not commensurate with commissions related to our initial contracts. As of September 30, 2024 and September 30, 2023, deferred costs of $42.5 million and $41.8 million, respectively, were included in Other current assets and $76.4 million and $78.7 million, respectively, were included in Other assets. Amortization expense related to costs to obtain a contract with a customer was $52.0 million, $53.4 million, and $50.9 million in the years ended September 30, 2024, 2023, and 2022, respectively. There were no substantial imp airments of the contract cost asset in the years ended September 30, 2024 and 2023. 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 September 30, 2024, the transaction price amounts include additional performance obligations of $775.3 million recorded in deferred revenue and $1,494.0 million that are not yet recorded in the Consolidated Balance Sheets. Of the total $2,269.3 million, we expect to recognize approximately 57% over the next 12 months, 25% over the next 13 to 24 months, and the remaining amount thereafter. Disaggregation of Revenue
(in thousands) |  | Year ended September 30, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Recurring revenue(1) |  | $ | 2,134,030 |  |  | $ | 1,907,918 |  |  | $ | 1,736,188 |
Perpetual license |  |  | 32,196 |  |  |  | 38,640 |  |  |  | 34,065 |
Professional services |  |  | 132,246 |  |  |  | 150,495 |  |  |  | 163,094 |
Total revenue |  | $ | 2,298,472 |  |  | $ | 2,097,053 |  |  | $ | 1,933,347 |
(1) Recurring revenue is comprised of on-premises subscription, perpetual support, SaaS, and hosting services revenue. We report revenue by the following two product groups:
(in thousands) |  | Year ended September 30, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Product lifecycle management (PLM) |  | $ | 1,459,078 |  |  | $ | 1,330,316 |  |  | $ | 1,137,016 |
Computer-aided design (CAD) |  |  | 839,394 |  |  |  | 766,737 |  |  |  | 796,331 |
Total revenue |  | $ | 2,298,472 |  |  | $ | 2,097,053 |  |  | $ | 1,933,347 |
We license products to customers worldwide. Our sales and marketing operations outside the United States are conducted principally through our international sales subsidiaries throughout Europe and the Asia Pacific region. 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) |  | Year ended September 30, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Americas(1) |  | $ | 1,087,929 |  |  | $ | 1,023,273 |  |  | $ | 895,095 |
Europe(2) |  |  | 859,387 |  |  |  | 753,796 |  |  |  | 714,216 |
Asia Pacific |  |  | 351,156 |  |  |  | 319,984 |  |  |  | 324,036 |
Total revenue |  | $ | 2,298,472 |  |  | $ | 2,097,053 |  |  | $ | 1,933,347 |
(1) Includes revenue in the United States totaling $1,057.3 million, $993.8 million, and $864.7 million for 2024, 2023 and 2022, respectively. (2) Includes revenue in Germany totaling $330.5 million, $292.0 million, and $318.5 million for 2024, 2023 and 2022, respectively.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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