Autodesk, Inc.

Condensed Consolidated Statements of Operations (1)

(In millions, except per share data)

Three Months Ended
July 31,

Six Months Ended
July 31,

2017

2016

2017

2016

(Unaudited)

Net revenue:

Maintenance

$

261.8

$

277.5

$

525.4

$

561.9

Subscription

196.1

101.8

369.5

187.3

    Total maintenance and subscription revenue

457.9

379.3

894.9

749.2

License and other

43.9

171.4

92.6

313.4

Total net revenue

501.8

550.7

987.5

1,062.6

Cost of revenue:

Cost of maintenance and subscription revenue

52.8

46.8

107.7

93.4

Cost of license and other revenue

17.8

27.6

36.4

62.5

Amortization of developed technology

4.0

10.7

8.7

21.6

Total cost of revenue

74.6

85.1

152.8

177.5

Gross profit

427.2

465.6

834.7

885.1

Operating expenses:

Marketing and sales

257.6

243.1

513.3

483.9

Research and development

193.8

193.0

381.5

386.5

General and administrative

78.0

68.6

156.3

143.3

Amortization of purchased intangibles

4.9

7.8

10.6

15.7

Restructuring (benefits) charges and other facility exit costs, net

0.5

16.0

0.2

68.3

Total operating expenses

534.8

528.5

1,061.9

1,097.7

Loss from operations

(107.6)

(62.9)

(227.2)

(212.6)

Interest and other expense, net

(18.8)

(10.1)

(20.6)

(13.7)

Loss before income taxes

(126.4)

(73.0)

(247.8)

(226.3)

Provision for income taxes

(17.6)

(25.2)

(25.8)

(39.6)

Net loss

$

(144.0)

$

(98.2)

$

(273.6)

$

(265.9)

Basic net loss per share

$

(0.66)

$

(0.44)

$

(1.25)

$

(1.19)

Diluted net loss per share

$

(0.66)

$

(0.44)

$

(1.25)

$

(1.19)

Weighted average shares used in computing basic net loss per share

219.5

223.2

219.7

223.8

Weighted average shares used in computing diluted net loss per share

219.5

223.2

219.7

223.8

(1) In the first quarter of fiscal 2018, in order to improve the transparency of our revenue reporting, we updated our Condensed Consolidated Statement of Operations to include three lines of revenue: maintenance revenue, subscription revenue, and license and other revenue.  In this format, all subscription revenue is reported in the subscription line and all maintenance revenue is reported in the maintenance line.  All remaining non-recurring revenue is reported as license and other revenue. Cost of revenue was updated consistent with the changes noted in revenue and to separately state the amount of amortization from developed technology to be consistent with the presentation of the amortization of purchased intangibles within operating expenses.  This simplified the reconciliation between the income statement presentation and recurring revenue, and improved the link between our financial statements and our business model transition.