Autodesk 2008 Annual Report Download - page 128

AUTODESK, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
Fiscal year ended January 31,
2008 2007 2006
(in millions)
Operating Activities
Net income ......................................................... $356.2 $ 289.7 $ 333.6
Adjustments to reconcile net income to net cash provided by operating activities:
Charge for acquired in-process research and development ................ 5.5 — 9.1
Depreciation and amortization ...................................... 61.3 53.5 43.7
Stock-based compensation expense .................................. 99.3 94.3 4.6
Net loss on fixed asset disposals .................................... — — 0.1
Tax benefits from employee stock plans .............................. — 5.1 124.6
Restructuring related charges, net ................................... — 1.1 —
Changes in operating assets and liabilities, net of business combinations:
Accounts receivable .............................................. (78.3) (39.8) (45.8)
Deferred income taxes ............................................ 56.5 40.1 (84.0)
Prepaid expenses and other current assets ............................. (13.6) 11.0 (0.7)
Accounts payable and accrued liabilities .............................. 81.4 2.4 (14.4)
Deferred revenues ............................................... 125.6 107.1 71.7
Accrued income taxes ............................................ 14.6 12.1 (27.3)
Net cash provided by operating activities ......................... 708.5 576.6 415.2
Investing Activities
Purchases of available-for-sale marketable securities .................... (727.0) (345.0) (279.3)
Sales and maturities of available-for-sale marketable securities ............ 799.1 325.2 204.0
Business combinations, net of cash acquired ........................... (114.5) (52.5) (242.1)
Capital and other expenditures ...................................... (43.3) (35.3) (20.5)
Acquisition of equity investment .................................... — (12.5) —
Other investing activities .......................................... — 2.3 (0.1)
Net cash used in investing activities ............................. (85.7) (117.8) (338.0)
Financing Activities
Proceeds from issuance of common stock, net of issuance costs ........... 187.3 74.2 144.6
Repurchases of common stock ...................................... (563.0) (154.4) (446.6)
Dividends paid .................................................. — — (3.4)
Other financing activities .......................................... — — (0.2)
Net cash used in financing activities ............................. (375.7) (80.2) (305.6)
Effect of exchange rate changes on cash and cash equivalents ................. 4.9 0.1 (2.1)
Net increase (decrease) in cash and cash equivalents ........................ 252.0 378.7 (230.5)
Cash and cash equivalents at beginning of year ............................. 665.9 287.2 517.7
Cash and cash equivalents at end of period ................................ $917.9 $ 665.9 $ 287.2
Supplemental cash flow information:
Net cash paid during the period for income taxes ....................... $ 47.1 $ 14.7 $ 44.2
Supplemental non-cash investing activity:
Increase in goodwill and corresponding change in other accrued liabilities
resulting from adjustments to purchase accounting estimates ............ $ 6.4 $ 2.5 $ —
Accounts receivable and other receivable reductions as partial consideration
in business combinations ........................................ $ — $ — $ 2.4
See accompanying Notes to Consolidated Financial Statements.
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