BENTLEY SYSTEMS INC

For the period ended Dec 31, 2023. Filed Feb 27, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 27, 2024

BSY$45.40+1.7%Stored close · as of Nov 9, 2026

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Contents

Consolidated Financial Statements F-

	December 31,
	2023	2022
Assets
Current assets:
Cash and cash equivalents	$68,412	$71,684
Accounts receivable	302,501	296,376
Allowance for doubtful accounts	(8,965)	(9,303)
Prepaid income taxes	12,812	18,406
Prepaid and other current assets	44,797	38,732
Total current assets	419,557	415,895
Property and equipment, net	40,100	32,251
Operating lease right-of-use assets	38,476	40,249
Intangible assets, net	248,787	292,271
Goodwill	2,269,336	2,237,184
Investments	23,480	22,270
Deferred income taxes	212,831	52,636
Other assets	67,283	72,249
Total assets	$3,319,850	$3,165,005
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable	$18,094	$15,176
Accruals and other current liabilities	457,348	362,048
Deferred revenues	253,785	226,955
Operating lease liabilities	11,645	14,672
Income taxes payable	9,491	4,507
Current portion of long-term debt	10,000	5,000
Total current liabilities	760,363	628,358
Long-term debt	1,518,403	1,775,696
Deferred compensation plan liabilities	88,181	77,014
Long-term operating lease liabilities	30,626	27,670
Deferred revenues	15,862	16,118
Deferred income taxes	9,718	51,235
Income taxes payable	7,337	8,105
Other liabilities	5,378	7,355
Total liabilities	2,435,868	2,591,551
Commitments and contingencies (Note 18)
Stockholders’ equity:
Preferred stock, $0.01 par value, authorized 100,000,000 shares; none issued or outstanding as of December 31, 2023 and 2022	—	—
Class A common stock, $0.01 par value, authorized 100,000,000 shares; issued and outstanding 11,537,627 and 11,601,757 shares as of December 31, 2023 and 2022, respectively	115	116
Class B common stock, $0.01 par value, authorized 1,800,000,000 shares; issued and outstanding 284,728,210 and 277,412,730 shares as of December 31, 2023 and 2022, respectively	2,848	2,774
Additional paid-in capital	1,127,234	1,030,466
Accumulated other comprehensive loss	(84,987)	(89,740)
Accumulated deficit	(161,932)	(370,866)
Non-controlling interest	704	704
Total stockholders’ equity	883,982	573,454
Total liabilities and stockholders’ equity	$3,319,850	$3,165,005

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.