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58
and the reasons for the transfers. In addition, this ASU requires the Company to separately present information about purchases,
sales, issuances, and settlements (on a gross basis rather than as one net number) in the reconciliation for fair value
measurements using significant unobservable inputs (Level 3). ASU 2010-06 clarifies existing disclosures regarding fair value
measurement for each class of assets and liabilities and the valuation techniques and inputs used to measure fair value for
recurring and nonrecurring fair value measurements that fall in either Level 2 or Level 3. This update also includes conforming
amendments to the guidance on employers' disclosures about postretirement benefit plan asset (Subtopic 715-20). The changes
under ASU 2010-06 were effective for Autodesk's fiscal year beginning February 1, 2010, except for the disclosures about
purchases, sales, issuances and settlements in the roll forward of activity in Level 3 fair value measurements, which Autodesk
adopted February 1, 2011. The adoption of this ASU did not have a material impact on Autodesk's consolidated statements of
financial position, results of operations or cash flows.
In October 2009, the FASB issued ASU 2009-13 regarding ASC Subtopic 605-25 “Revenue Recognition-Multiple-
element Arrangements.” This ASU addresses criteria for separating the consideration in multiple-element arrangements. ASU
2009-13 requires companies to allocate the overall consideration to each deliverable by using a best estimate of the selling price
of individual deliverables in the arrangement in the absence of vendor-specific objective evidence or other third-party evidence
of the selling price. In October 2009, the FASB also issued ASU 2009-14 regarding ASC Topic 985 “Software: Certain
Revenue Arrangements That Include Software Elements.” This ASU modifies the scope of ASC Subtopic 985-605, “Software
Revenue Recognition,” to exclude (a) non-software components of tangible products and (b) software components of tangible
products that are sold, licensed or leased with tangible products when the software components and non-software components
of the tangible product function together to deliver the tangible product's essential functionality. The changes under ASU
2009-13 and 2009-14 were effective prospectively for revenue arrangements entered into or materially modified in fiscal years
beginning on or after June 15, 2010. Autodesk adopted the changes under ASU 2009-13 and 2009-14 effective February 1,
2011. The adoption of this ASU did not have a material impact on Autodesk's consolidated statements of financial position,
results of operations or cash flows.
Recently Issued Accounting Standards
In December 2011, the FASB issued ASU 2011-11 regarding ASC Topic 210 "Balance Sheet: Disclosure about Offsetting
Assets and Liabilities." This ASU requires that entities disclose additional information about offsetting and related
arrangements to enable users of the financial statements to understand the effect of those arrangements on the financial
position. This ASU will be effective for Autodesk's fiscal year beginning February 1, 2013. Autodesk believes that the adoption
of this ASU may impact future disclosures but will not impact its consolidated statements of financial position, results of
operations or cash flows.
In September 2011, the FASB issued ASU 2011-08 regarding ASC Topic 350 “Intangibles - Goodwill and Other.” This
ASU allows for the option to first assess qualitative factors to determine whether the existence of events or circumstances leads
to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If, after
assessing the totality of events or circumstances, it is more likely than not that the fair value of the reporting unit is greater than
its carrying value, then performing the two-step impairment test is unnecessary. This ASU will be effective for Autodesk's fiscal
year beginning February 1, 2012. Autodesk believes that the adoption of this ASU will not have a material impact on its
consolidated statements of financial position, results of operations or cash flows.
In June 2011, the FASB issued ASU 2011-05 regarding ASC Topic 220 “Comprehensive Income.” This ASU eliminates
the option to present components of other comprehensive income as part of the statement of changes in stockholders' equity and
requires the presentation of the total of comprehensive income, the components of net income, and the components of other
comprehensive income either in a single continuous statement of comprehensive income or in two separate but consecutive
statements. In December 2011, the FASB issued ASU 2011-12 in order to defer new requirements around the presentation of
reclassification adjustments on the face of the financial statements between accumulated other comprehensive income and the
components of net income and other comprehensive income originally issued in ASU 2011-05. Both ASUs will be effective for
Autodesk's fiscal year beginning February 1, 2012. Autodesk currently believes that these new accounting pronouncements will
impact the presentation of other comprehensive income but will not impact its consolidated financial position, results of
operations or cash flow.
In May 2011, FASB issued ASU 2011-04 regarding ASC Topic 820 “Fair Value Measurement.” This ASU updates
accounting guidance to clarify how to measure fair value to align the guidance surrounding Fair Value Measurement within
GAAP and International Financial Reporting Standards. In addition, the ASU updates certain requirements for measuring fair
value and for disclosure around fair value measurement. It does not require additional fair value measurements and the ASU
was not intended to establish valuation standards or affect valuation practices outside of financial reporting. This ASU will be
effective for Autodesk's fiscal year beginning February 1, 2012. Early adoption is not permitted. Autodesk believes that the
adoption of this ASU will not have a material impact on its consolidated statements of financial position, results of operations
59
or cash flows.
2012 Annual Report