The changes in the carrying amount of goodwill during the nine months ended July 31, 2025 are as follows:


	(in thousands)




Balance at October 31, 2024	$	3,448,850
Additions	23,493,632
Adjustments	(19,470)
Effect of foreign currency translation	22,711
Balance at July 31, 2025	$	26,945,723

The change in goodwill during the nine months ended July 31, 2025 resulted primarily from $23.5 billion related to the Ansys Merger. For additional information, refer to Note 4. Acquisition of Ansys.


	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
	(in thousands)
Core/developed technology	$	7,271,070	$	699,991	$	6,571,079
Customer relationships	5,399,231		269,100		5,130,131
Contract rights intangible	613,263		182,895		430,368

Trademarks and trade names	961,325		12,991		948,334


Total	$	14,244,889	$	1,164,977	$	13,079,912


	Gross Carrying Amount		Accumulated Amortization and Impairment		Net Carrying Amount
	(in thousands)
Core/developed technology	$	904,347	$	777,518	$	126,829
Customer relationships	314,140		247,025		67,115
Contract rights intangible	176,382		175,170		1,212

Trademarks and trade names	12,925		12,917		8


Total	$	1,407,794	$	1,212,630	$	195,164

Amortization expense related to intangible assets consists of the following:


	Three Months Ended July 31,				Nine Months Ended July 31,
	2025		2024		2025		2024
	(in thousands)
Core/developed technology	$	37,357	$	13,447	$	52,883	$	38,373
Customer relationships	26,907		4,058		34,895		11,467
Contract rights intangible	9,011		1,063		9,741		3,465

Trademarks and trade names	1,666		4		1,674		12

Total	$	74,941	$	18,572	$	99,193	$	53,317

The following table presents the estimated future amortization of acquired intangible assets as of July 31, 2025:


Fiscal year	(in thousands)
Remainder of fiscal 2025	$	405,134
2026	1,613,162
2027	1,544,552
2028	1,383,210
2029	1,380,773
2030 and thereafter	6,753,081

Total	$	13,079,912