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