Autodesk, Inc.

Condensed Consolidated Statements of Cash Flows

(In millions)

Six Months Ended July 31,

2023

2022

(Unaudited)

Operating activities:

Net income

$              383

$              332

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

Depreciation, amortization and accretion

66

76

Stock-based compensation expense

362

322

Deferred income taxes

(65)

(43)

Lease-related asset impairments

7

9

Other

(33)

(11)

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

Accounts receivable

559

281

Prepaid expenses and other assets

(23)

(25)

Accounts payable and other liabilities

(115)

(199)

Deferred revenue

(350)

(77)

Accrued income taxes

67

26

Net cash provided by operating activities

858

691

Investing activities:

Purchases of marketable securities

(687)

(97)

Sales and maturities of marketable securities

339

245

Capital expenditures

(16)

(23)

Purchases of intangible assets

(10)

(5)

Business combinations, net of cash acquired

(26)

(96)

Other investing activities

(18)

(47)

Net cash used in investing activities

(418)

(23)

Financing activities:

Proceeds from issuance of common stock, net of issuance costs

71

67

Taxes paid related to net share settlement of equity awards

(120)

(92)

Repurchases of common stock

(616)

(708)

Net cash used in financing activities

(665)

(733)

Effect of exchange rate changes on cash and cash equivalents

(8)

(23)

Net decrease in cash and cash equivalents

(233)

(88)

Cash and cash equivalents at beginning of period

1,947

1,528

Cash and cash equivalents at end of period

$             1,714

$           1,440

Supplemental cash flow disclosure:

Non-cash financing activities:

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

$                    9

$                   5

Fair value of common stock issued related to business combinations

$                   —

$                 10