Autodesk 2009 Annual Report Download - page 168
Download and view the complete annual report
Please find page 168 of the 2009 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.-
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
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158 -
159 -
160 -
161 -
162 -
163 -
164 -
165 -
166 -
167 -
168 -
169 -
170 -
171 -
172 -
173 -
174 -
175 -
176 -
177 -
178 -
179
-
180
-
181
-
182
-
183
-
184
 |
 |
AUTODESK, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Management’s allocation of the purchase price, based on a valuation of acquired assets and liabilities, is as
follows:
Developed technologies (6 year useful life) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 5.1
Customer relationships (7 year useful life) .......................................... 13.0
Customercontracts(7yearusefullife) ............................................. 1.1
Tradename(6yearusefullife) ................................................... 0.9
Goodwill ..................................................................... 35.9
Deferred revenue .............................................................. (5.1)
Restructuring reserve ........................................................... (0.4)
Net tangible assets ............................................................. (4.8)
$45.7
Customer relationships and customer contracts represent the underlying relationships and agreements with
Constructware’s existing customers. Trade name represents the estimated fair value of the Constructware trade
name and trademarks.
The $35.9 million of goodwill, which represents the excess of the purchase price over the fair value of the
acquired net tangible and intangible assets, is not deductible for tax purposes. Deferred revenue represents the
estimated fair value of the support and maintenance obligations assumed from Constructware in connection with
this acquisition.
Note 14. Restructuring Reserves
During the fourth quarter of fiscal 2009, the Board of Directors approved a restructuring plan that will result
in the elimination of approximately 750 positions and the consolidation of up to 27 offices worldwide with a total
cost of $65.0 to $75.0 million (“Fiscal 2009 Plan”). This plan was designed to reduce operating expense levels to
help achieve the Company’s targeted operating margins. Of the $65.0 to $75.0 million, $50.0 to $55.0 million is
attributable to termination benefits including severance benefits, medical benefits and outplacement costs. In
addition, approximately $15.0 to $20.0 million of the restructuring charges is attributable to lease termination
costs, which include losses on operating leases as well as the impairment of related leasehold improvements and
equipment. Autodesk recorded $40.2 million in restructuring charges related to the Fiscal 2009 Plan in the fourth
quarter of fiscal 2009. The actions approved under the Fiscal 2009 Plan will be substantially completed by the
end of the first half of fiscal 2010. The remaining outstanding lease termination costs relate to operating lease
agreements expiring between fiscal 2010 and fiscal 2018.
90