Autodesk 2003 Annual Report Download - page 65

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AUTODESK, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
The weighted average estimated fair value of shares granted under the employee qualified stock purchase
plan was $4.81 per share during fiscal 2003, $4.14 during fiscal 2002 and $4.29 during fiscal 2001. These were
estimated using the Black-Scholes option-pricing model, based on the following assumptions:
2003 2002 2001
Volatility .......................................... 0.5 0.6 0.7
Weighted-average estimated life ........................ 0.5years 0.5 years 0.5 years
Weighted-average risk-free interest rate .................. 2.1percent 3.3 percent 5.3 percent
Dividend yield ...................................... 0.8percent 0.7 percent 0.8 percent
Pretax Savings Plan
Autodesk has a 401(k) plan that covers nearly all U.S. employees. Eligible employees may contribute up to
20 percent of their pretax salary, subject to limitations mandated by the Internal Revenue Service. Autodesk
makes voluntary cash contributions and matches a portion of employee contributions in cash. Autodesk’s
contributions were $6.3 million in fiscal 2003, $5.8 million in fiscal 2002 and $5.0 million in fiscal 2001.
Autodesk does not allow participants to invest in Autodesk common stock through the 401(k) plan.
Autodesk provides defined-contribution plans in certain foreign countries where required by statute.
Autodesk’s funding policy for foreign defined-contribution plans is consistent with the local requirements in each
country. Autodesk’s contributions to these plans were $4.2 million in fiscal 2003, $4.4 million in fiscal 2002 and
$2.8 million in fiscal 2001.
Note 10. Business Combinations
The following acquisitions were accounted for under the purchase method of accounting and, accordingly,
the results of operations of each acquisition are included in the accompanying consolidated statements of income
since the acquisition date, and the related assets and liabilities were recorded based upon their relative fair values
at the date of acquisition. Pro forma results of operations have not been presented for any of the acquisitions,
except the Buzzsaw acquisition, because the effects of these acquisitions were not significant to Autodesk on
either an individual or an aggregate basis.
truEInnovations
In December 2002 Autodesk acquired certain assets of truEInnovations for approximately $1.7 million in
cash. Autodesk accounted for this acquisition under Statement of Financial Accounting Standards No. 141,
“Business Combinations” (“SFAS 141”). The purchase consideration was allocated principally to purchased
technology and goodwill, which are deductible for tax purposes. The goodwill was assigned to the Manufacturing
Solutions Division of the Design Solutions Segment.
CAiCE Software Corporation (“CAiCE”)
In September 2002 Autodesk acquired certain assets and liabilities of CAiCE for $10.0 million in cash. This
acquisition allows Autodesk to expand its presence in the transportation software market as well as enhance
Autodesk’s core civil design industry business by addressing the needs of both the public and private sector
engineering community.
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