PTC CONSTRUCTION LLC

compensation, as defined, but not more than statutory limits. We contribute 50 % of the amount contributed by the employee, up to a maximum of 3 % of the employee’s earnings. Our matching contributions vest immediately. We made matching contributions of $ 9.3 million, $ 9.2 million and $ 8.6 million in 2025, 2024 and 2023 , respectively. 13. Pension Plans We maintain several international defined benefit pension plans primarily covering certain employees of Computervision, which we acquired in 1998, and CoCreate, which we acquired in 2008, and covering employees in Japan. Benefits are based upon length of service and average compensation with vesting after one to five years of service. The pension cost was actuarially computed using assumptions applicable to each subsidiary plan and econo

cash flow exclude, as applicable: stock-based compensation expense; amortization of acquired intangible assets; acquisition and transaction-related charges included in General and administrative expenses; Impairment and other charges (credits), net; non-operating charges (credits), net; and income tax adjustments. Stock-based compensation is a non-cash expense relating to stock-based awards issued to executive officers, employees and outside directors, consisting of restricted stock units. We exclude this expense as it is a non-cash expense and we assess our internal operations excluding this expense and believe it facilitates comparisons to the performance of other companies in our industry. Amortization of acquired intangible assets is a non-cash expense that is impacted by the timing an