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BENTLEY SYSTEMS, INCORPORATED
Consolidated Balance Sheets
(in thousands)
(unaudited)
|
|
March 31, 2023 |
|
December 31, 2022 |
||||
Assets |
|
|
|
|
||||
Current assets: |
|
|
|
|
||||
Cash and cash equivalents |
|
$ |
93,567 |
|
|
$ |
71,684 |
|
Accounts receivable |
|
|
285,192 |
|
|
|
296,376 |
|
Allowance for doubtful accounts |
|
|
(8,036 |
) |
|
|
(9,303 |
) |
Prepaid income taxes |
|
|
21,169 |
|
|
|
18,406 |
|
Prepaid and other current assets |
|
|
39,849 |
|
|
|
38,732 |
|
Total current assets |
|
|
431,741 |
|
|
|
415,895 |
|
Property and equipment, net |
|
|
33,038 |
|
|
|
32,251 |
|
Operating lease right-of-use assets |
|
|
38,946 |
|
|
|
40,249 |
|
Intangible assets, net |
|
|
283,969 |
|
|
|
292,271 |
|
| Goodwill |
|
|
2,247,797 |
|
|
|
2,237,184 |
|
| Investments |
|
|
32,010 |
|
|
|
22,270 |
|
| Deferred income taxes |
|
|
52,484 |
|
|
|
52,636 |
|
| Other assets |
|
|
68,037 |
|
|
|
72,249 |
|
| Total assets |
|
$ |
3,188,022 |
|
|
$ |
3,165,005 |
|
| Liabilities and Stockholders’ Equity |
|
|
|
|
||||
| Current liabilities: |
|
|
|
|
||||
| Accounts payable |
|
$ |
28,781 |
|
|
$ |
15,176 |
|
| Accruals and other current liabilities |
|
|
420,935 |
|
|
|
362,048 |
|
| Deferred revenues |
|
|
234,775 |
|
|
|
226,955 |
|
| Operating lease liabilities |
|
|
14,147 |
|
|
|
14,672 |
|
| Income taxes payable |
|
|
14,862 |
|
|
|
4,507 |
|
| Current portion of long-term debt |
|
|
6,250 |
|
|
|
5,000 |
|
| Total current liabilities |
|
|
719,750 |
|
|
|
628,358 |
|
| Long-term debt |
|
|
1,668,781 |
|
|
|
1,775,696 |
|
| Deferred compensation plan liabilities |
|
|
80,674 |
|
|
|
77,014 |
|
| Long-term operating lease liabilities |
|
|
26,651 |
|
|
|
27,670 |
|
| Deferred revenues |
|
|
15,972 |
|
|
|
16,118 |
|
| Deferred income taxes |
|
|
46,564 |
|
|
|
51,235 |
|
| Income taxes payable |
|
|
8,127 |
|
|
|
8,105 |
|
| Other liabilities |
|
|
7,313 |
|
|
|
7,355 |
|
| Total liabilities |
|
|
2,573,832 |
|
|
|
2,591,551 |
|
| Stockholders’ equity: |
|
|
|
|
||||
| Common stock |
|
|
2,915 |
|
|
|
2,890 |
|
| Additional paid-in capital |
|
|
1,060,842 |
|
|
|
1,030,466 |
|
| Accumulated other comprehensive loss |
|
|
(89,374 |
) |
|
|
(89,740 |
) |
| Accumulated deficit |
|
|
(360,897 |
) |
|
|
(370,866 |
) |
| Non-controlling interest |
|
|
704 |
|
|
|
704 |
|
| Total stockholders’ equity |
|
|
614,190 |
|
|
|
573,454 |
|
| Total liabilities and stockholders’ equity |
|
$ |
3,188,022 |
|
|
$ |
3,165,005 |
|
BENTLEY SYSTEMS, INCORPORATED
