BENTLEY SYSTEMS INC - Annual Report: 2024 (Form 10-K)

() () Change in fair value of acquisition contingent consideration (see Note 17)

Receipts related to interest rate swap

Other income (expense), net (2)

()

Total other income (expense), net

$ $()$

(1)Foreign exchange gain (loss) is primarily attributable to foreign currency translation derived mainly from U.S. dollar denominated cash and cash equivalents, account receivables, customer deposits, and intercompany balances held by foreign subsidiaries.

(2)Other income (expense), net for the year ended December 31, 2023 includes investment impairment and other charges of $(), partially offset by gains on investments of $ (see Note 7).

Note 21:

and $, respectively, which represent termination benefits for colleagues whose roles were impacted. The 2023 Program activities have been broadly implemented across the Company’s various businesses, which were substantially completed by the end of the second quarter of 2024, and payments of termination benefits were completed as of December 31, 2024. $ Cost of services() Total cost of revenues Operating expenses:Research and development() Selling and marketing General and administrative() Total operating expenses() Total realignment costs$ $

F-49

Realignment costs Payments()

Adjustments (1)

Balance, December 31, 2023$ Realignment costs Payments()

Adjustments (1)

()Balance, December 31, 2024$

(1)Adjustments include foreign currency translation and other adjustments.

Note 22:

, , and participating securities outstanding, respectively.

To compute the numerator of diluted net income per share attributable to Bentley Systems stockholders, interest expense, net of tax, attributable to the assumed conversion of the convertible senior notes using the if‑converted method is added back to basic net income attributable to Bentley Systems. To compute the denominator of diluted net income per share attributable to Bentley Systems stockholders, the basic weighted average number of shares is adjusted for the effect of dilutive securities, including awards under the Company’s equity compensation plans and ESPP using the treasury stock method, and for the dilutive effect of the assumed conversion of the convertible senior notes using the if‑converted.

Except with respect to voting and conversion, the rights of the holders of the Company’s Class A and Class B common stock are identical. Each class of shares has the same rights to dividends and allocation of income (loss) and, therefore, net income per share attributable to Bentley Systems stockholders would not differ under the two‑class method.

F-50

$ $

Less: Net income attributable to Bentley Systems allocated to participating securities

()()()

Basic net income attributable to Bentley Systems stockholders

Add: Interest expense, net of tax, attributable to assumed conversion of convertible senior notes

Diluted net income attributable to Bentley Systems stockholders

$ $ $ Denominator:Basic weighted average shares Dilutive effect of stock options, restricted stock, and RSUs Dilutive effect of ESPP Dilutive effect of assumed conversion of convertible senior notes Diluted weighted average shares

Net income per share attributable to Bentley Systems stockholders:

Basic$ $ $ Diluted$ $ $

There were anti‑dilutive securities for the years ended December 31, 2024 or 2023. For the year ended December 31, 2022, RSUs were excluded from the calculation of diluted net income per share attributable to Bentley Systems stockholders as including them would have an anti‑dilutive effect.

F-51

BENTLEY SYSTEMS INC - Annual Report: 2024 (Form 10-K)

Similar companies