Autodesk 2004 Annual Report Download - page 51

Download and view the complete annual report

Please find page 51 of the 2004 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 96

  • 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
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96

AUTODESK, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
Fiscal year ended January 31,
2004 2003 2002
(in thousands)
Operating activities
Net income ......................................................... $120,316 $ 31,904 $ 90,313
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 .................................... 50,292 48,844 62,907
Stock compensation expense ..................................... 1,775 2,753 769
Gain on disposal of affiliate ........................................ — — (9,461)
Write-downs of cost-method investments ......................... 596 3,436 2,861
Equity in net loss of affiliate ........................................ — — 1,211
Net loss on fixed asset disposals ................................... — 940 2,016
Tax benefits from employee stock plans ........................... — — 12,176
Restructuring related charges, net ................................. 3,183 25,887 26,816
Changes in operating assets and liabilities, net of business
combinations:
Accounts receivable .............................................. (34,013) 8,202 18,383
Inventories ....................................................... (5,081) 5,715 (357)
Deferred income taxes ............................................ 9,684 38,990 7,789
Prepaid expenses and other current assets ......................... 4,465 7,657 (5,771)
Accounts payable and accrued liabilities ........................... 23,938 (63,623) (9,035)
Deferred revenues ................................................ 34,035 27,050 11,856
Accrued income taxes ............................................ 10,893 (52,120) (5,187)
Net cash provided by operating activities ........................ 220,083 85,635 210,466
Investing activities
Purchases of available-for-sale marketable securities ................ (421,540) (837,560) (1,416,274)
Sales and maturities of available-for-sale marketable securities ...... 397,501 960,565 1,359,457
Business combinations, net of cash acquired ....................... (5,150) (145,231) (34,271)
Capital and other expenditures .................................... (25,852) (36,103) (45,068)
Purchases of software technologies and capitalization of software
development costs ............................................. (4,230) (3,656) (12,365)
Other investing activities .......................................... 279 (3,033) 2,970
Net cash used in investing activities ............................. (58,992) (65,018) (145,551)
Financing activities
Proceeds from issuance of common stock, net of issuance costs .... 115,401 74,687 80,185
Repurchase of common stock ..................................... (178,463) (64,817) (97,293)
Dividends paid ................................................... (13,408) (13,566) (13,092)
Repayments on borrowings ....................................... — (210) (486)
Minority interest .................................................. — — (2,656)
Net cash used in financing activities ............................. (76,470) (3,906) (33,342)
Effect of exchange rate changes on cash and cash equivalents ........ 11,251 11,979 (6,168)
Net increase in cash and cash equivalents ............................ 95,872 28,690 25,405
Cash and cash equivalents at beginning of year ...................... 186,377 157,687 132,282
Cash and cash equivalents at end of year ............................. $282,249 $ 186,377 $ 157,687
Supplemental noncash information: .................................
Shares issued in connection with an acquisition ...................... $ — $ — $ 450
See accompanying notes.
41