(1) | During the quarter ended April 30, 2021, the Company changed its presentation on the Condensed Consolidated Balance Sheets for investments in debt and equity securities that are held in a rabbi trust under non-qualified deferred compensation plans, including correcting the classification as current and non-current assets. These amounts were previously presented as current "Marketable securities" and are now presented as "Prepaid expenses and other current assets" and "Long-term other assets" on the Condensed Consolidated Balance Sheets. Accordingly, prior period amounts have been reclassified to conform to the current period presentation. These presentation and classification changes did not impact "Total assets" on the Condensed Consolidated Balance Sheets and had no impact on the Company's Condensed Consolidated Statements of Operations, and Condensed Consolidated Statement of Cash Flows. |
Autodesk, Inc. |
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Condensed Consolidated Statements of Cash Flows |
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(In millions) |
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| Three Months Ended April 30, | ||||||
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| 2021 |
| 2020 | ||||
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| (Unaudited) | ||||||
Operating activities: |
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Net income | $ | 155.6 |
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| $ | 66.5 |
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Adjustments to reconcile net income to net cash provided by operating activities: |
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Depreciation, amortization and accretion | 33.0 |
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| 30.0 |
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Stock-based compensation expense | 115.8 |
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| 98.2 |
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Deferred income taxes | 18.8 |
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| 3.5 |
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Other | 18.6 |
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| 32.7 |
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Changes in operating assets and liabilities, net of business combinations: |
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Accounts receivable | 324.4 |
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| 295.5 |
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Prepaid expenses and other assets | (125.6) |
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| (47.5) |
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Accounts payable and other liabilities | (182.2) |
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| (154.6) |
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Deferred revenue | (27.5) |
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| (1.1) |
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Accrued income taxes | 5.2 |
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| 4.1 |
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Net cash provided by operating activities | 336.1 |
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| 327.3 |
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Investing activities: |
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Purchases of marketable securities | — |
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| (11.0) |
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Sales and maturities of marketable securities | 4.0 |
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| — |
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Capital expenditures | (20.3) |
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| (19.9) |
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Purchases of developed technologies | (0.9) |
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| (3.6) |
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| Business combinations, net of cash acquired | (1,031.6) |
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| — |
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| Other investing activities | 8.4 |
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| (43.5) |
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| Net cash used in investing activities | (1,040.4) |
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| (78.0) |
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| Financing activities: |
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| Proceeds from issuance of common stock, net of issuance costs | 64.2 |
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| 56.8 |
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| Taxes paid related to net share settlement of equity awards | (54.9) |
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| (32.5) |
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| Repurchases of common stock | (151.4) |
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| (202.0) |
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| Repayment of debt | — |
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| (450.0) |
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| Other financing activities | — |
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| (2.5) |
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| Net cash used in financing activities | (142.1) |
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| (630.2) |
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| Effect of exchange rate changes on cash and cash equivalents | (2.6) |
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| (4.1) |
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| Net decrease in cash and cash equivalents | (849.0) |
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| (385.0) |
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| Cash and cash equivalents at beginning of period | 1,772.2 |
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| 1,774.7 |
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| Cash and cash equivalents at end of period | $ | 923.2 |
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| $ | 1,389.7 |
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| Supplemental cash flow disclosure: |
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| Non-cash financing activities: |
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| Fair value of common stock issued to settle liability-classified restricted stock units | $ | — |
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| $ | 28.7 |
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| Fair value of common stock issued related to business combination | $ | 2.6 |
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| $ | — |
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