Autodesk, Inc.

Condensed Consolidated Statements of Cash Flows

(In millions) (1)

Nine Months Ended October 31,

2022

2021

(Unaudited)

Operating activities:

Net income

$              530

$             408

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation, amortization and accretion

113

114

Stock-based compensation expense

493

410

Deferred income taxes

(98)

15

Lease-related asset impairments

21

—

Other

13

13

Changes in operating assets and liabilities, net of business combinations:

Accounts receivable

70

70

Prepaid expenses and other assets

1

(139)

Accounts payable and other liabilities

(76)

(67)

Deferred revenue

14

(28)

Accrued income taxes

79

13

Net cash provided by operating activities

1,160

809

Investing activities:

Purchases of marketable securities

(199)

(56)

Sales and maturities of marketable securities

302

4

Capital expenditures

(32)

(50)

Purchases of developed technologies

(6)

(10)

Business combinations, net of cash acquired

(96)

(1,185)

Other investing activities

(53)

(2)

Net cash used in investing activities

(84)

(1,299)

Financing activities:

Proceeds from issuance of common stock, net of issuance costs

124

113

Taxes paid related to net share settlement of equity awards

(127)

(148)

Repurchases of common stock

(894)

(483)

Proceeds from debt, net of discount

—

997

Other financing activities

—

(6)

Net cash (used in) provided by financing activities

(897)

473

Effect of exchange rate changes on cash and cash equivalents

(42)

(6)

Net increase (decrease) in cash and cash equivalents

137

(23)

Cash and cash equivalents at beginning of period

1,528

1,772

Cash and cash equivalents at end of period

$           1,665

$           1,749

Supplemental cash flow disclosure:

Non-cash financing activities:

Fair value of common stock issued to settle liability-classified restricted common stock

$                   8

$                   3

Fair value of common stock issued related to business combinations

$                 10

$                   3

____________________

(1) In the current fiscal year, the Company changed its rounding presentation to the nearest whole number in millions of reported amounts, except per share data or as otherwise noted. The current year rounding presentation has been applied to all prior year amounts presented and, in certain circumstances, this change may adjust previously reported balances.