Autodesk, Inc |
|
|
|
Condensed Consolidated Statements of Cash Flows |
|
|
|
(In millions) |
|
|
|
|
|
|
|
| Six Months Ended July 31, | ||
| 2024 |
| 2023 |
| (Unaudited) | ||
Operating activities: |
|
|
|
Net income | $ 534 |
| $ 383 |
Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
Depreciation, amortization and accretion | 86 |
| 66 |
Stock-based compensation expense | 316 |
| 362 |
Amortization of costs to obtain a contract with a customer (1) | 85 |
| 63 |
Deferred income taxes | (40) |
| (65) |
Lease-related asset impairments | — |
| 7 |
Other | (5) |
| (33) |
Changes in operating assets and liabilities, net of business combinations: |
|
|
|
Accounts receivable | 477 |
| 559 |
Prepaid expenses and other assets (1) | (167) |
| (95) |
Accounts payable and other liabilities (1) | (30) |
| (106) |
Deferred revenue | (577) |
| (350) |
Accrued income taxes | 27 |
| 67 |
Net cash provided by operating activities | 706 |
| 858 |
Investing activities: |
|
|
|
Purchases of marketable securities | (431) |
| (687) |
Sales and maturities of marketable securities | 430 |
| 339 |
Capital expenditures | (16) |
| (16) |
Purchases of intangible assets | (39) |
| (10) |
Business combinations, net of cash acquired | (801) |
| (26) |
Other investing activities | (7) |
| (18) |
Net cash used in investing activities | (864) |
| (418) |
Financing activities: |
|
|
|
Proceeds from issuance of common stock, net of issuance costs | 71 |
| 71 |
Taxes paid related to net share settlement of equity awards | (172) |
| (120) |
Repurchases of common stock | (120) |
| (616) |
Net cash used in financing activities | (221) |
| (665) |
Effect of exchange rate changes on cash and cash equivalents | — |
| (8) |
Net decrease in cash and cash equivalents | (379) |
| (233) |
Cash and cash equivalents at beginning of period | 1,892 |
| 1,947 |
Cash and cash equivalents at end of period | $ 1,513 |
| $ 1,714 |
|
|
|
|
Supplemental cash flow disclosure: |
|
|
|
Non-cash financing activities: |
|
|
|
Fair value of common stock issued to settle liability-classified restricted common stock | $ 3 |
| $ 9 |