⁽¹⁾Effective January 1, 2019, the Company adopted the new leasing standard, which requires virtually all leases to be recorded on the balance sheet. Results for reporting periods beginning after January 1, 2019 are presented under the new guidance, while prior period amounts are not adjusted and continue to be reported in accordance with previous guidance. The adoption of the new standard resulted in the recognition of approximately $90 million of lease assets, and corresponding lease liabilities, on the Company's condensed consolidated balance sheet as of January 1, 2019.

ANSYS, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Income
(Unaudited)
	Three Months Ended								Six Months Ended
(in thousands, except per share data)	June 30,  2019				June 30,  2018				June 30,  2019				June 30,  2018
Revenue:
Software licenses	$	170,499			$	131,147			$	293,543			$	241,193
Maintenance and service	198,136				174,766				392,222				347,593
Total revenue	368,635				305,913				685,765				588,786
Cost of sales:
Software licenses	6,204				4,099				10,912				8,010
Amortization	4,755				9,087				9,302				17,873
Maintenance and service	29,538				27,264				55,098				53,605
Total cost of sales	40,497				40,450				75,312				79,488
Gross profit	328,138				265,463				610,453				509,298
Operating expenses:
Selling, general and administrative	120,412				95,058				232,581				182,867
Research and development	75,302				58,357				146,040				115,887
Amortization	3,796				3,495				7,555				6,930
Total operating expenses	199,510				156,910				386,176				305,684
Operating income	128,628				108,553				224,277				203,614
Interest income	2,980				2,176				6,422				4,461
Other expense, net	(1,667		)		(1,007		)		(2,092		)		(1,315		)
Income before income tax provision	129,941				109,722				228,607				206,760
Income tax provision	20,191				17,126				32,627				29,884
Net income	$	109,750			$	92,596			$	195,980			$	176,876
Earnings per share – basic:
Earnings per share	$	1.31			$	1.10			$	2.34			$	2.11
Weighted average shares	83,978				84,105				83,871				84,018
Earnings per share – diluted:
Earnings per share	$	1.28			$	1.08			$	2.29			$	2.06
Weighted average shares	85,483				85,986				85,488				86,069

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