Autodesk 2006 Annual Report Download - page 93

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AUTODESK, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
Fiscal year ended January 31,
2006 2005 2004
(In millions)
Operating activities
Netincome ......................................................... $ 328.9 $ 221.5 $120.3
Adjustments to reconcile net income to net cash provided by
operating activities:
Charge for acquired in-process research and development ........... 9.1 — —
Depreciation and amortization ..................................... 43.7 51.9 50.3
Stock-based compensation expense ................................. 0.4 3.9 1.8
Write-downs of cost-method investments ........................... — — 0.6
Net loss on fixed asset disposals ................................... 0.1 0.6 —
Tax benefits from employee stock plans ............................. 124.0 116.9 —
Restructuring related charges, net .................................. — 9.2 3.2
Changes in operating assets and liabilities,
net of business combinations:
Accounts receivable ............................................... (45.8) (30.0) (34.0)
Inventories ........................................................ (1.0) 4.8 (5.1)
Deferred incometaxes ............................................. (87.8) (101.7) 9.7
Prepaid expenses and other current assets .......................... 0.3 (1.3) 4.5
Accounts payable and accrued liabilities ............................ (15.1) 39.6 23.9
Deferred revenues ................................................. 85.7 66.9 34.0
Accrued income taxes ............................................. (27.3) (9.2) 10.9
Net cash provided by operating activities ......................... 415.2 373.1 220.1
Investing activities
Purchases of available-for-sale marketable securities ................. (271.3) (256.6) (417.8)
Sales and maturities of available-for-sale marketable securities ....... 204.0 490.3 397.5
Purchases of restricted financial instruments ........................ (8.1) (3.0) (3.7)
Business combinations, net of cash acquired ........................ (242.1) (11.7) (5.2)
Capital and other expenditures ..................................... (20.5) (40.8) (25.9)
Purchases of software technologies and capitalization of software
development costs .............................................. — (1.6) (4.2)
Other investing activities .......................................... — (0.9) 0.3
Net cash provided by (used in) investing activities ................ (338.0) 175.7 (59.0)
Financing activities
Proceeds from issuance of common stock, net of issuance costs ...... 144.6 242.2 115.4
Repurchases of common stock ...................................... (446.8) (546.4) (178.5)
Dividends paid .................................................... (3.4) (13.5) (13.4)
Net cash used in financing activities .............................. (305.6) (317.7) (76.5)
Effect of exchange rate changes on cash and cash equivalents .......... (2.1) 4.4 11.2
Net increase (decrease) in cash and cash equivalents .................. (230.5) 235.5 95.8
Cash and cash equivalents at beginning of year ........................ 517.7 282.2 186.4
Cash and cash equivalents at end of year ............................. $ 287.2 $ 517.7 $282.2
Supplemental cash flow information:
Net cash paid (refunds received) during the period for income taxes . . $ 44.2 $ 16.5 $ (19.3)
Supplemental non-cash investing activity:
Accounts receivable and other receivable reductions as partial
consideration in business combinations ........................... $ 2.4 $ — $ —
2006 Annual Report
See accompanying Notes to Consolidated Financial Statements.
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