Autodesk 2003 Annual Report Download - page 45

Download and view the complete annual report

Please find page 45 of the 2003 Autodesk annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 85

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85

AUTODESK, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
Fiscal year ended January 31,
2003 2002 2001
(in thousands)
Operating activities
Netincome ..................................................................... $ 31,904 $ 90,313 $ 93,233
Adjustments to reconcile net income to net cash provided by operating activities:
Charge for acquired in-process research and development ............................ — 3,180 —
Depreciation and amortization .................................................. 48,844 62,907 68,844
Gain on disposal of affiliate .................................................... — (9,461) —
Write-downs of cost-method and other investments .................................. 3,436 2,861 2,553
Equity in net loss of affiliate .................................................... — 1,211 16,289
Net loss on fixed asset disposals ................................................. 940 2,016 —
Tax benefits from employee stock plans ........................................... — 12,176 21,055
Restructuring related reserve additions (reversals), net ............................... 25,887 26,816 (1,034)
Changes in operating assets and liabilities, net of business combinations:
Accounts receivable .......................................................... 8,202 18,383 (46,583)
Inventories .................................................................. 5,715 (357) 2,009
Deferred income taxes ........................................................ 38,990 7,789 6,170
Prepaid expenses and other current assets ......................................... 7,657 (5,771) (725)
Accounts payable and accrued liabilities .......................................... (60,271) (8,576) 8,016
Deferred revenues ............................................................ 27,050 11,856 17,189
Accrued income taxes ......................................................... (52,120) (5,187) 9,103
Net cash provided by operating activities ...................................... 86,234 210,156 196,119
Investing activities
Investments in unconsolidated companies ......................................... — — (25,799)
Purchases of available-for-sale marketable securities ................................. (837,560) (1,416,274) (2,353,616)
Sales and maturities of available-for-sale marketable securities ........................ 960,565 1,359,457 2,476,310
Business combinations, net of cash acquired ....................................... (145,231) (34,271) —
Capital and other expenditures .................................................. (36,103) (45,068) (32,412)
Purchases of software technologies and capitalization of software development costs ....... (3,656) (12,365) (3,094)
Other investing activities ...................................................... (3,033) 2,970 —
Net cash (used in) provided by investing activities .............................. (65,018) (145,551) 61,389
Financing activities
Proceeds from issuance of common stock, net of issuance costs ........................ 74,088 80,495 114,036
Repurchaseofcommonstock ................................................... (64,817) (97,293) (359,293)
Dividendspaid .............................................................. (13,566) (13,092) (13,580)
(Repayments)onborrowings ................................................... (210) (486) (427)
Minority interest ............................................................. — (2,656) 13,957
Net cash used in financing activities .......................................... (4,505) (33,032) (245,307)
Effect of exchange rate changes on cash and cash equivalents ............................. 11,979 (6,168) (11,657)
Net increase in cash and cash equivalents ............................................. 28,690 25,405 544
Cash and cash equivalents at beginning of year ......................................... 157,687 132,282 131,738
Cash and cash equivalents at end of year .............................................. $186,377 $ 157,687 $ 132,282
Supplemental noncash information:
Shares issued in connection with an acquisition ..................................... $ — $ 450 $ 2,780
See accompanying notes.
36