Income Taxes (Tables)

12 Months Ended

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