Autodesk, Inc. |
|
|
|
Condensed Consolidated Statements of Cash Flows |
|
|
|
(In millions) |
|
|
|
|
|
|
|
|
|
| Three Months Ended April 30, | ||
|
| 2024 |
| 2023 |
|
| (Unaudited) | ||
Operating activities: |
|
|
|
Net income | $ 252 |
| $ 161 |
Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
Depreciation, amortization and accretion | 40 |
| 33 |
Stock-based compensation expense | 149 |
| 165 |
Amortization of costs to obtain a contract with a customer (1) | 41 |
| 30 |
Deferred income taxes | (25) |
| (30) |
Other | 18 |
| (11) |
Changes in operating assets and liabilities, net of business combinations: |
|
|
|
Accounts receivable | 526 |
| 630 |
Prepaid expenses and other assets (1) | (69) |
| (73) |
Accounts payable and other liabilities (1) | (166) |
| (157) |
Deferred revenue | (305) |
| (98) |
Accrued income taxes | 33 |
| 73 |
Net cash provided by operating activities | 494 |
| 723 |
Investing activities: |
|
|
|
Purchases of marketable securities | (220) |
| (342) |
Sales and maturities of marketable securities | 262 |
| 163 |
Capital expenditures | (7) |
| (9) |
Purchases of intangible assets | (34) |
| (6) |
Business combinations, net of cash acquired | (637) |
| (26) |
Other investing activities | (2) |
| (10) |
Net cash used in investing activities | (638) |
| (230) |
Financing activities: |
|
|
|
Proceeds from issuance of common stock, net of issuance costs | 71 |
| 71 |
| Taxes paid related to net share settlement of equity awards | (123) |
| (82) |
| Repurchases of common stock | (9) |
| (512) |
| Net cash used in financing activities | (61) |
| (523) |
| Effect of exchange rate changes on cash and cash equivalents | (6) |
| (8) |
| Net decrease in cash and cash equivalents | (211) |
| (38) |
| Cash and cash equivalents at beginning of period | 1,892 |
| 1,947 |
| Cash and cash equivalents at end of period | $ 1,681 |
| $ 1,909 |
|
|
|
|
|
| Supplemental cash flow disclosure: |
|
|
|
| Non-cash financing activities: |
|
|
|
| Fair value of common stock issued to settle liability-classified restricted common stock | $ 3 |
| $ 1 |
|
|
|
|
|
|
|
|
|
|
|
| (1) During the quarter ended April 30, 2024, the Company changed its presentation of the amortization of costs capitalized to obtain a contract with a customer in our Condensed Consolidated Statements of Cash Flows. Amortization of costs capitalized to obtain a contract with a customer were previously presented in "Changes in operating assets and liabilities, net of business combinations" and are now presented in "Adjustments to reconcile net income to net cash provided by operating activities." Accordingly, prior period amounts have been reclassified to conform to the current period presentation. These reclassifications did not impact total net cash provided by operating activities. The effect of the change on the Condensed Consolidated Statement of Cash Flows for the quarter ended April 30, 2023 was $30 million. | |||||||||
