Autodesk 2007 Annual Report Download - page 133

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73
2007 Annual Report
AUTODESK, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
Fiscal year ended January 31,
2007 2006 2005
As Restated (1) As Restated (1)
(In millions)
Operating Activities
Net income ............................................ $289.7 $ 333.6 $ 221.1
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. . . . . . . . . . . . . . . . . . . . . . . . . 53.5 43.7 51.9
Stock-based compensation expense . . . . . . . . . . . . . . . . . . . . 94.3 4.6 11.9
Net loss on fixed asset disposals . . . . . . . . . . . . . . . . . . . . . . . — 0.1 0.6
Tax benefits from employee stock plans. . . . . . . . . . . . . . . . . 5.1 124.6 112.5
Restructuring related charges, net. . . . . . . . . . . . . . . . . . . . . . 1.1 — 9.2
Changes in operating assets and liabilities,
net of business combinations:
Accounts receivable. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (39.8) (45.8) (30.0)
Inventories........................................... 8.7 (1.0) 4.8
Deferred income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40.1 (84.0) (100.8)
Prepaid expenses and other current assets . . . . . . . . . . . . . . 2.3 0.3 (1.3)
Accounts payable and accrued liabilities . . . . . . . . . . . . . . . . 2.4 (14.4) 40.6
Deferred revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 107.1 71.7 61.9
Accrued income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.1 (27.3) (9.1)
Net cash provided by operating activities . . . . . . . . . . . . . 576.6 415.2 373.3
Investing Activities
Purchases of available-for-sale marketable securities. . . . . (345.0) (279.3) (259.6)
Sales and maturities of available-for-sale
marketable securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 325.2 204.0 490.3
Business combinations, net of cash acquired . . . . . . . . . . . . (52.5) (242.1) (11.8)
Capital and other expenditures . . . . . . . . . . . . . . . . . . . . . . . . (35.3) (20.5) (40.8)
Purchases of software technologies and capitalization
of software development costs. . . . . . . . . . . . . . . . . . . . . . . — — (1.6)
Acquisition of equity investment . . . . . . . . . . . . . . . . . . . . . . . (12.5) — —
Other investing activities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.3 (0.1) (0.9)
Net cash provided by (used in) investing activities (117.8) (338.0) 175.6
Financing Activities
Proceeds from issuance of common stock,
net of issuance costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 74.2 144.6 242.2
Repurchases of common stock . . . . . . . . . . . . . . . . . . . . . . . . . (154.4) (446.6) (546.3)
Excess benefits from stock-based compensation . . . . . . . . . — — —
Dividends paid ....................................... — (3.4) (13.5)
Other financing activities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — (0.2) (0.2)
Net cash used in financing activities . . . . . . . . . . . . . . . . . (80.2) (305.6) (317.8)
Effect of exchange rate changes on cash and cash
equivalents .......................................... 0.1 (2.1) 4.4
Net increase (decrease) in cash and cash equivalents. . . . . . . 378.7 (230.5) 235.5
Cash and cash equivalents at beginning of year. . . . . . . . . . . . 287.2 517.7 282.2
Cash and cash equivalents at end of period. . . . . . . . . . . . . . . . $ 665.9 $ 287.2 $ 517.7