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Income Taxes (Tables) | 12 Months Ended
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Sep. 30, 2024
Income Tax Disclosure [Abstract] |
Summary of Income (Loss) Before Income Taxes | Our Income (loss) before income taxes consisted of the following:
(in thousands) |  | Year ended September 30, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Domestic |  | $ | 43,504 |  |  | $ | (49,193 | ) |  | $ | 97,460 |
Foreign |  |  | 425,458 |  |  |  | 381,759 |  |  |  | 299,638 |
Total income before income taxes |  | $ | 468,962 |  |  | $ | 332,566 |  |  | $ | 397,098 |
Schedule of Provision For Income Taxes | Our Provision for income taxes consisted of the following:
(in thousands) |  | Year ended September 30, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Current: |  |  |  |  |  |  |  |  |
Federal |  | $ | 44,642 |  |  | $ | 7,311 |  |  | $ | 767 |
State |  |  | 25,359 |  |  |  | 10,020 |  |  |  | 6,675 |
Foreign |  |  | 61,668 |  |  |  | 53,019 |  |  |  | 33,612 |
|  |  | 131,669 |  |  |  | 70,350 |  |  |  | 41,054 |
Deferred: |  |  |  |  |  |  |  |  |
Federal |  |  | (60,378 | ) |  |  | (11,821 | ) |  |  | 25,730 |
State |  |  | (7,387 | ) |  |  | (10,028 | ) |  |  | (3,177 | )
Foreign |  |  | 28,725 |  |  |  | 38,525 |  |  |  | 20,410 |
|  |  | (39,040 | ) |  |  | 16,676 |  |  |  | 42,963 |
Provision for income taxes |  | $ | 92,629 |  |  | $ | 87,026 |  |  | $ | 84,017 |
Summary of Federal Income Tax Rate and Effective Income Tax Rate | Taxes computed at the statutory federal income tax rates are reconciled to the Provision for income taxes as follows:
(in thousands) |  | Year ended September 30, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Statutory federal income tax rate |  | $ | 98,482 |  |  |  | 21 | % |  | $ | 69,839 |  |  |  | 21 | % |  | $ | 83,391 |  |  |  | 21 | %
State income taxes, net of federal tax benefit |  |  | 4,631 |  |  |  | 1 | % |  |  | 577 |  |  |  | 0 | % |  |  | 6,518 |  |  |  | 2 | %
Federal research and development credits |  |  | (11,203 | ) |  |  | (2 | )% |  |  | (7,751 | ) |  |  | (2 | )% |  |  | (7,477 | ) |  |  | (2 | )%
Uncertain tax positions |  |  | 7,268 |  |  |  | 2 | % |  |  | 23,302 |  |  |  | 7 | % |  |  | 2,418 |  |  |  | 1 | %
Foreign tax credit |  |  | (30,119 | ) |  |  | (7 | )% |  |  | (11,415 | ) |  |  | (3 | )% |  |  | (9,078 | ) |  |  | (2 | )%
Foreign rate differences |  |  | (15,368 | ) |  |  | (3 | )% |  |  | (20,829 | ) |  |  | (6 | )% |  |  | (8,982 | ) |  |  | (2 | )%
Foreign tax on U.S. provision |  |  | 15,120 |  |  |  | 3 | % |  |  | 11,415 |  |  |  | 3 | % |  |  | 9,078 |  |  |  | 2 | %
Excess tax benefits from restricted stock |  |  | (9,225 | ) |  |  | (2 | )% |  |  | (6,963 | ) |  |  | (2 | )% |  |  | (8,278 | ) |  |  | (2 | )%
U.S. permanent items |  |  | 2,711 |  |  |  | 0 | % |  |  | 5,341 |  |  |  | 2 | % |  |  | 3,453 |  |  |  | — |
Non-deductible compensation |  |  | 10,157 |  |  |  | 2 | % |  |  | 8,344 |  |  |  | 3 | % |  |  | 11,851 |  |  |  | 3 | %
Base Erosion Anti-Abuse Tax (BEAT) |  |  | 3,264 |  |  |  | 1 | % |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
GILTI, net of foreign tax credits |  |  | 31,388 |  |  |  | 7 | % |  |  | 17,861 |  |  |  | 5 | % |  |  | 2,705 |  |  |  | 1 | %
Foreign-Derived Intangible Income (FDII) |  |  | (15,148 | ) |  |  | (3 | )% |  |  | (8,987 | ) |  |  | (3 | )% |  |  | (6,848 | ) |  |  | (2 | )%
Non-deductible imputed interest |  |  | — |  |  |  | — |  |  |  | 6,292 |  |  |  | 2 | % |  |  | — |  |  |  | — |
Sale of a portion of the PLM services business |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 6,844 |  |  |  | 2 | %
Other, net |  |  | 671 |  |  |  | 0 | % |  |  | — |  |  |  | (1 | )% |  |  | (1,578 | ) |  |  | (1 | )%
Provision for income taxes |  | $ | 92,629 |  |  |  | 20 | % |  | $ | 87,026 |  |  |  | 26 | % |  | $ | 84,017 |  |  |  | 21 | %
Schedule of Deferred Tax Assets and Liabilities | The significant temporary differences that created deferred tax assets and liabilities are shown below:
(in thousands) |  | September 30, |
|  | 2024 |  |  | 2023 |
Deferred tax assets: |  |  |  |  |  |
Net operating loss carryforwards |  | $ | 14,141 |  |  | $ | 22,272 |
Foreign tax credits |  |  | 2,028 |  |  |  | 3,750 |
Capitalized research and development |  |  | 136,001 |  |  |  | 83,748 |
Pension benefits |  |  | 7,629 |  |  |  | 5,327 |
Prepaid expenses |  |  | 18,551 |  |  |  | 15,040 |
Deferred revenue |  |  | 2,607 |  |  |  | 5,902 |
Stock-based compensation |  |  | 22,231 |  |  |  | 19,684 |
Other reserves not currently deductible |  |  | 34,422 |  |  |  | 19,604 |
Amortization of intangible assets |  |  | 60,527 |  |  |  | 90,888 |
Research and development and other tax credits |  |  | 25,706 |  |  |  | 64,618 |
Lease liabilities |  |  | 46,460 |  |  |  | 50,102 |
Fixed assets |  |  | 106,741 |  |  |  | 83,796 |
Capital loss carryforward |  |  | 3,875 |  |  |  | 3,700 |
Other |  |  | 3,528 |  |  |  | 2,279 |
Gross deferred tax assets |  |  | 484,447 |  |  |  | 470,710 |
Valuation allowance |  |  | (21,755 | ) |  |  | (21,695 | )
Total deferred tax assets |  |  | 462,692 |  |  |  | 449,015 |
Deferred tax liabilities: |  |  |  |  |  |
Acquired intangible assets not deductible |  |  | (257,731 | ) |  |  | (263,178 | )
Lease assets |  |  | (34,160 | ) |  |  | (37,332 | )
Pension prepayments |  |  | (3,283 | ) |  |  | (1,808 | )
Deferred revenue |  |  | (1,243 | ) |  |  | (17,400 | )
Depreciation |  |  | (4,683 | ) |  |  | (5,779 | )
Deferred income |  |  | (11,636 | ) |  |  | (8,656 | )
Prepaid commissions |  |  | (13,738 | ) |  |  | (13,757 | )
Other |  |  | (9,030 | ) |  |  | (7,294 | )
Total deferred tax liabilities |  |  | (335,504 | ) |  |  | (355,204 | )
Net deferred tax assets |  | $ | 127,188 |  |  | $ | 93,811 |
Summary of Valuation Allowance | The changes to the valuation allowance were primarily due to the following:
(in thousands) |  | Year ended September 30, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Valuation allowance, beginning of year |  | $ | 21,695 |  |  | $ | 22,283 |  |  | $ | 52,085 |
Net increase (decrease) in deferred tax assets with a full valuation allowance(1) |  |  | 60 |  |  |  | (588 | ) |  |  | (29,802 | )
Valuation allowance, end of year |  | $ | 21,755 |  |  | $ | 21,695 |  |  | $ | 22,283 |
(1) In 2022, this change included the loss of foreign attributes upon liquidation of a foreign subsidiary.
Schedule of Unrecognized Tax Benefit |
|  | Year ended September 30, |
Unrecognized tax benefits (in thousands) |  | 2024 |  |  | 2023 |  |  | 2022 |
Unrecognized tax benefit, beginning of year |  | $ | 50,742 |  |  | $ | 23,923 |  |  | $ | 21,166 |
Tax positions related to current year: |  |  |  |  |  |  |  |  |
Additions |  |  | 7,570 |  |  |  | 7,075 |  |  |  | 3,144 |
Tax positions related to prior years: |  |  |  |  |  |  |  |  |
Additions |  |  | 10,705 |  |  |  | 20,855 |  |  |  | 785 |
Reductions |  |  | (452 | ) |  |  | — |  |  |  | (1,172 | )
Settlements |  |  | (3,530 | ) |  |  | — |  |  |  | — |
Statute expirations |  |  | — |  |  |  | (1,111 | ) |  |  | — |
Unrecognized tax benefit, end of year |  | $ | 65,035 |  |  | $ | 50,742 |  |  | $ | 23,923 |
Summary of Income Tax Examinations Years | As of September 30, 2024, we remained subject to examination in the following major tax jurisdictions for the tax years indicated:
Major Tax Jurisdiction |  | Open Years
United States |  | 2021 through 2024
Germany |  | 2015 through 2024
France |  | 2023 through 2024
Japan |  | 2019 through 2024
Ireland |  | 2019 through 2024

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