Autodesk 2014 Annual Report Download - page 102

2013 Annual Report
2014 Form 10-K 28
We also have a $400.0 million revolving credit facility. As of January 31, 2014, we had no outstanding borrowings on the
line of credit. Although we have no current plans to borrow under this credit facility, we may use the proceeds of any future
borrowing for general corporate purposes, or for future acquisitions or expansion of our business. Our existing and future levels
of indebtedness may adversely affect our financial condition and future financial results by, among other things:
 increasing our vulnerability to adverse changes in general economic, industry and competitive conditions;
 requiring the dedication of a greater than expected portion of our expected cash from operations to service our
indebtedness, thereby reducing the amount of expected cash flow available for other purposes, including capital
expenditures and acquisitions; and
 limiting our flexibility in planning for, or reacting to, changes in our business and our industry.
We are required to comply with the covenants set forth in our senior unsecured notes and revolving credit facility. Our
ability to comply with these covenants may be affected by events beyond our control. If we breach any of the covenants and do
not obtain a waiver from the noteholders or lenders, then, subject to applicable cure periods, any outstanding indebtedness may
be declared immediately due and payable. In addition, changes by any rating agency to our credit rating may negatively impact
the value and liquidity of our securities. Under certain circumstances, if our credit ratings are downgraded or other negative
action is taken, the interest rate payable by us under our revolving credit facility could increase. Downgrades in our credit
ratings could also restrict our ability to obtain additional financing in the future and could affect the terms of any such
financing.
ITEM 1B. UNRESOLVED STAFF COMMENTS
None
ITEM 2. PROPERTIES
We lease 1,757,000 square feet of office space in 116 locations in the United States and internationally through our
foreign subsidiaries. In addition, we own 25,000 square feet of office space in two locations internationally through our foreign
subsidiaries. Our executive offices and corporate headquarters are located in leased office space in San Rafael, California. Our
San Rafael facilities consist of 220,000 square feet under leases that have expiration dates ranging from December 2017 to
December 2019. We and our foreign subsidiaries lease additional space in various locations throughout the world for local
sales, product development and technical support personnel.
All facilities are in good condition. Our facilities, excluding those in restructuring, are operating at capacities averaging
83% occupancy worldwide as of January 31, 2014. We believe that our existing facilities and offices are adequate to meet our
requirements for the foreseeable future. See Note 8, “Commitments and Contingencies,” in the Notes to Consolidated Financial
Statements for more information about our lease commitments.
ITEM 3. LEGAL PROCEEDINGS
We are involved in a variety of claims, suits, investigations and proceedings in the normal course of business activities
including claims of alleged infringement of intellectual property rights, commercial, employment, piracy prosecution, business
practices and other matters. In our opinion, resolution of pending matters is not expected to have a material adverse impact on
our consolidated results of operations, cash flows or financial position. Given the unpredictable nature of legal proceedings,
there is a reasonable possibility that an unfavorable resolution of one or more such proceedings could in the future materially
affect our results of operations, cash flows or financial position in a particular period, however, based on the information known
by us as of the date of this filing and the rules and regulations applicable to the preparation of our financial statements, any such
amount is either immaterial or it is not possible to provide an estimated amount of any such potential loss.
ITEM 1. MINE SAFETY DISCLOSURES
Not applicable.