Autodesk, Inc. |
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Condensed Consolidated Statements of Cash Flows |
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(In millions) |
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| Nine Months Ended October 31, | ||||||
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| 2020 |
| 2019 | ||||
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| (Unaudited) | ||||||
Operating activities: |
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Net income | $ | 296.9 |
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| $ | 82.7 |
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Adjustments to reconcile net income to net cash provided by operating activities: |
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Depreciation, amortization and accretion | 92.2 |
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| 96.4 |
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Stock-based compensation expense | 291.5 |
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| 257.4 |
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Deferred income taxes | 13.0 |
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| 47.9 |
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Restructuring and other exit costs, net | — |
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| 0.5 |
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Other | 48.6 |
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| 10.8 |
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Changes in operating assets and liabilities |
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Accounts receivable | 112.8 |
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| (47.2) |
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Prepaid expenses and other assets | (61.6) |
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| 37.6 |
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Accounts payable and other liabilities | 42.3 |
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| (94.2) |
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Deferred revenue | (78.3) |
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| 328.8 |
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Accrued income taxes | 22.2 |
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| (3.8) |
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Net cash provided by operating activities | 779.6 |
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| 716.9 |
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Investing activities: |
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Purchases of marketable securities | (21.0) |
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| (19.9) |
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Sales of marketable securities | — |
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| 22.4 |
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Maturities of marketable securities | 17.0 |
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| 5.0 |
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Capital expenditures | (67.6) |
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| (39.2) |
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Purchases of developed technologies | (4.8) |
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| — |
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Acquisitions, net of cash acquired | (44.8) |
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| — |
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| Other investing activities | (55.5) |
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| (11.0) |
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| Net cash used in investing activities | (176.7) |
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| (42.7) |
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| Financing activities: |
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| Proceeds from issuance of common stock, net of issuance costs | 112.9 |
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| 91.8 |
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| Taxes paid related to net share settlement of equity awards | (105.0) |
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| (79.9) |
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| Repurchases of common stock | (399.4) |
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| (261.9) |
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| Repayment of debt | (450.0) |
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| (350.0) |
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| Other financing activities | (2.5) |
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| — |
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| Net cash used in financing activities | (844.0) |
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| (600.0) |
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| Effect of exchange rate changes on cash and cash equivalents | 3.4 |
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| (4.0) |
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| Net (decrease) increase in cash and cash equivalents | (237.7) |
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| 70.2 |
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| Cash and cash equivalents at beginning of period | 1,774.7 |
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| 886.0 |
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| Cash and cash equivalents at end of period | $ | 1,537.0 |
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| $ | 956.2 |
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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 | $ | 28.7 |
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| $ | — |
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