v3.25.1
Segment Disclosure
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment Disclosure Segment Disclosure
We develop and globally market engineering simulation software. As defined by the accounting guidance for segment reporting, we operate as one segment. Our Chief Operating Decision Maker (CODM) is Ajei Gopal, President and Chief Executive Officer. The financial information provided to and used by the CODM assists in making operational decisions and allocating resources, such as the allocation of personnel. The annual budgeting process is the primary mechanism used to make these decisions. The financial information also helps in making performance assessments using budgeted versus actual results. The profit and loss measure reviewed by the CODM is net income. Segment disclosures, including significant segment expenses, are detailed below:
 Three Months Ended
(in thousands)March 31, 2025March 31, 2024
Revenue$504,891 $466,605 
Salaries(157,642)(150,451)
Stock-based compensation(70,243)(58,664)
Incentive compensation(1)
(33,310)(31,321)
Amortization of intangible assets from acquisitions(29,151)(28,629)
Depreciation(8,528)(7,000)
Other headcount-related expenses(55,141)(49,990)
Interest income16,743 10,995 
Interest expense(10,177)(12,369)
Other segment expenses, net(2)
(92,913)(98,218)
Income tax provision(12,664)(6,180)
Net income$51,865 $34,778 
(1) Incentive compensation includes bonuses and commissions.
(2) Other segment expenses, net consists primarily of IT maintenance and software hosting costs, marketing expenses, consulting and professional fees, acquisition-related costs and facilities costs.

The measure of segment assets is reported on the condensed consolidated balance sheet as total assets. The measure of expenditures for long-lived assets is reported on the condensed consolidated statements of cash flows as capital expenditures.