Autodesk 2004 Annual Report Download - page 39

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At January 31, 2004, we had net deferred tax assets of $17.6 million. Realization of these assets is
dependent on our ability to generate approximately $46.0 million of future taxable income in appropriate
tax jurisdictions. We believe that sufficient income will be earned in the future to realize these assets.
During fiscal 2004, we recognized an income tax benefit of $19.7 million due to a favorable resolution
of an industry-wide matter surrounding our FSC for the fiscal years ended 1993 through 1998. In connection
with the refund of these tax payments previously made, the Company received payment and recognized
interest income of $4.2 million during fiscal 2004.
Also during the fourth quarter of fiscal 2004, we recognized a non-recurring income tax benefit of $7.0
million resulting from the resolution of an IRS audit for the fiscal year ended 2000.
Equity in net loss of affiliate
In August 2001, we acquired the remaining 60% interest in Buzzsaw, Inc. that we did not own.
Consequently, from the date of the acquisition, Buzzsaw’s on-going revenues and costs and expenses have
been included in each of the respective line items in our consolidated statements of income. In fiscal 2002,
prior to the acquisition, we recognized equity in net losses of $1.2 million representing our proportionate
share of Buzzsaw’s losses during that period.
Business Combinations
Over the past three years, we acquired new technology or supplemented our technology by
purchasing businesses focused in specific markets or industries. During this time period, we acquired the
following businesses:
Date Company Details
March 2003 VIA Development Corporation The acquisition of certain assets of VIA Development
Corporation provided us with electrical schematics,
wire diagram, and controls engineering automation
technology. This acquisition has been integrated into
our Manufacturing Solutions Division within the
Design Solutions Segment.
February 2003 Linius Technologies, Inc. The acquisition of certain assets of Linius
Technologies, Inc. brought us technology that allows
a wire harness designer to create 3D prototypes in our
Autodesk Inventor Professional product.
This acquisition has been integrated into our
Manufacturing Solutions Division within the Design
Solutions Segment.
December 2002 truEInnovations, Inc. This acquisition brought us file and data
management software that has been integrated into
our Autodesk Inventor Series environment. The
truEInnovations, Inc. acquisition has been integrated
with our Manufacturing Solutions Division.
September 2002 CAiCE Software Corporation This acquisition allowed us to expand our presence in
the transportation software market as well as enhance
our core civil design industry business. The CAiCE
acquisition has been integrated with our
Infrastructure Solutions Division.
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