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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Stock-Based Compensation Expense
Total stock-based compensation expense recognized for the years ended December 31, 2024, 2023 and 2022 is as follows:
 Year Ended December 31,
(in thousands, except per share amounts)202420232022
Cost of sales:
Maintenance and service14,313 13,337 10,073 
Operating expenses:
Selling, general and administrative161,905 126,175 93,117 
Research and development94,682 82,379 64,938 
Stock-based compensation expense before taxes270,900 221,891 168,128 
Related income tax benefits(65,647)(53,880)(50,209)
Stock-based compensation expense, net of taxes$205,253 $168,011 $117,919 
Summary of Stock Options
Information regarding stock option transactions is summarized below:
 Year Ended December 31,
 202420232022
(options in thousands)OptionsWeighted-
Average
Exercise
Price
OptionsWeighted-
Average
Exercise
Price
OptionsWeighted-
Average
Exercise
Price
Outstanding, beginning of year103 $94.23 226 $94.24 375 $83.67 
Granted $ — $— — $— 
Exercised(1)$86.57 (123)$94.32 (148)$67.56 
Forfeited(2)$86.01 — $— (1)$67.44 
Outstanding, end of year100 $94.46 103 $94.23 226 $94.24 
Vested and Exercisable, end of year100 $94.46 103 $94.23 226 $94.24 
Nonvested $ — $— — $— 
 
202420232022
Weighted Average Remaining Contractual Term (in years)
Outstanding1.592.523.53
Vested and Exercisable1.592.523.53
Aggregate Intrinsic Value (in thousands)
Exercised$83 $28,231 $30,358 
Outstanding$24,370 $27,717 $33,361 
Vested and Exercisable$24,370 $27,717 $33,361 
Compensation Expense - Stock Options (in thousands)
$ $— $— 
Summary of Types of Awards and Vesting Conditions The following table summarizes the types of awards and vesting conditions:
AwardVesting PeriodVesting Condition
Restricted stock units with a service condition onlyThree yearsPrior to March 2023, one third of the awards vested annually. Commencing in March 2023, one third vests in the first year and then one eighth quarterly thereafter.
Restricted stock units with an operating performance and service conditionThree yearsOperating performance metrics as defined at the beginning of each sub-performance period and subject to continued employment through the vesting period.
Restricted stock units with a market and service condition
Three years
Our performance measured by total stockholder return relative to the Nasdaq Composite Index for the performance period and subject to continued employment through the vesting period.
Board of Director restricted stock unit awardsThe earlier of one year or the next regular meeting of stockholdersContinued service on the Board of Directors through the vesting period. Directors that retire prior to the vest date receive a pro-rata portion of the RSUs.
Summary of Restricted Stock Units
Information regarding all employee and non-employee director RSU transactions is summarized below:
 Year Ended December 31,
 202420232022
(RSUs in thousands)RSUsWeighted-
Average
Grant Date Fair Value
RSUsWeighted-
Average
Grant Date Fair Value
RSUsWeighted-
Average
Grant Date Fair Value
Nonvested, beginning of year1,538 $309.33 1,220 $301.72 1,074 $278.02 
Granted(1)
948 $339.43 867 $314.04 861 $299.08 
Performance adjustment - awards with market condition(2)
(20)$285.28 (11)$279.42 (8)$276.73 
Performance adjustment - awards with performance condition(2)
59 $339.62 79 $310.37 73 $300.28 
Vested(894)$310.84 (558)$300.30 (598)$257.51 
Forfeited(76)$322.38 (59)$313.58 (182)$295.13 
Nonvested, end of year1,555 $327.62 1,538 $309.33 1,220 $301.72 
(1) Includes all RSUs granted during the year. RSUs with operating performance conditions have one performance cycle or three sub-performance cycles. Performance conditions are assigned near the beginning of each performance cycle or sub-performance cycle, as applicable, and awards are reflected as grants at the target number of units at that time.
(2) RSUs with a market or performance condition are granted at target and vest based on achievement of the market or operating performance and service conditions. The actual number of RSUs issued may be more or less than the target RSUs depending on the achievement of the market or operating performance conditions.
Employee Stock Option  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Information Regarding Stock Options Outstanding
Information regarding stock options outstanding as of December 31, 2024 is summarized below:
(options in thousands)Options Outstanding & Exercisable
Exercise PriceOptionsWeighted-
Average
Remaining
Contractual
Life (years)
$86.570.67
$94.150.58
$95.0992 1.67
Restricted Stock Units (RSUs)  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Assumptions to Estimate Fair Value of Stock Awards The determination of the fair values of the awards was affected by the grant date and several variables, each of which has been identified in the chart below. Due to the pending merger with Synopsys, there were no RSUs with a market condition issued in 2024.
Year Ended December 31,
Assumptions used in Monte Carlo lattice pricing model20232022
Risk-free interest rate4.6%1.8%
Expected dividend yield—%—%
Expected volatility—Ansys stock price36%37%
Expected volatility—Nasdaq Composite Index25%26%
Expected term2.8 years2.8 years
Correlation factor0.830.84
Weighted average fair value per share$452.14$290.65