Stock Repurchase Program

9 Months Ended

Jul. 31, 2024

Stock Repurchase Program [Abstract]

Stock Repurchase Program

Stock Repurchase Program

In fiscal 2022, our Board of Directors approved a stock repurchase program (the Program) with authorization to purchase up to $1.5 billion of our common stock. As of July 31, 2024, $194.3 million remained available for future repurchases under the Program. However, in connection with the pending Ansys Merger, we have suspended the Program until we are able to reduce our expected debt levels.

Stock repurchase activities as well as the reissuance of treasury stock for employee stock-based compensation purposes are as follows:

	Three Months Ended   July 31,				Nine Months Ended   July 31,
	2024		2023(1)(2)		2024(3)		2023(1)
	(in thousands)
Total shares repurchased	—		751		74		2,382
Total cost of the repurchased shares	$	—	$	300,000	$	45,000	$	860,724
Reissuance of treasury stock	409		625		1,634		2,132

(1) Excluded the 41,682 shares and $45.0 million equity forward contract from the May 2023 Accelerated Stock Repurchase program (ASR) settled in August 2023.

(2) Included the 105,792 shares and $45.0 million equity forward contract from the February 2023 ASR settled in May 2023.

(3) Included the 73,903 shares and $45.0 million equity forward contract from the August 2023 ASR settled in November 2023.