Autodesk 2005 Annual Report Download - page 56

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AUTODESK, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
Fiscal year ended January 31,
2005 2004 2003
(in thousands)
Operating activities
Netincome ......................................................... $ 221,508 $ 120,316 $ 31,904
Adjustments to reconcile net income to net cash provided by
operating activities:
Depreciation and amortization ..................................... 51,949 50,292 48,844
Stock-based compensation expense ................................. 3,909 1,775 2,753
Write-downs of cost-method investments ........................... — 596 3,436
Net loss on fixed asset disposals ................................... 556 — 940
Tax benefits from employee stock plans ............................. 116,856 — —
Restructuring related charges, net .................................. 9,212 3,183 25,887
Changes in operating assets and liabilities,
net of business combinations:
Accounts receivable ............................................... (30,011) (34,013) 8,202
Inventories ........................................................ 4,820 (5,081) 5,715
Deferred incometaxes ............................................. (101,727) 9,684 38,990
Prepaid expenses and other current assets .......................... (1,346) 4,465 7,657
Accounts payable and accrued liabilities ............................ 39,599 23,938 (63,623)
Deferred revenues ................................................. 66,953 34,035 27,050
Accrued income taxes ............................................. (9,146) 10,893 (52,120)
Net cash provided by operating activities ......................... 373,132 220,083 85,635
Investing activities
Purchases of available-for-sale marketable securities ................. (259,615) (421,540) (837,560)
Sales and maturities of available-for-sale marketable securities ....... 490,289 397,501 960,565
Business combinations, net of cash acquired ........................ (11,750) (5,150) (145,231)
Capital and other expenditures ..................................... (40,835) (25,852) (36,103)
Purchases of software technologies and capitalization of software
development costs .............................................. (1,565) (4,230) (3,656)
Other investing activities .......................................... (884) 279 (3,033)
Net cash provided by (used in) investing activities ................ 175,640 (58,992) (65,018)
Financing activities
Proceeds from issuance of common stock, net of issuance costs ...... 242,225 115,401 74,687
Repurchases of common stock ...................................... (546,408) (178,463) (64,817)
Dividends paid .................................................... (13,566) (13,408) (13,566)
Repayments on borrowings ........................................ — — (210)
Net cash used in financing activities .............................. (317,749) (76,470) (3,906)
Effect of exchange rate changes on cash and cash equivalents .......... 4,382 11,251 11,979
Net increase in cash and cash equivalents ............................. 235,405 95,872 28,690
Cash and cash equivalents at beginning of year ........................ 282,249 186,377 157,687
Cash and cash equivalents at end of year ............................. $ 517,654 $282,249 $ 186,377
See accompanying Notes to Consolidated Financial Statements.
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