Autodesk 2009 Annual Report Download - page 169
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AUTODESK, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
The following table sets forth the restructuring activities for the fiscal years ended January 31, 2009 and
2008.
Balance at
January 31,
2008 Additions
Charges
Utilized Adjustments
Balance at
January 31,
2009
Fiscal 2009 Plan
Lease termination and asset costs . . . . . . . . . . . . . . . . . $— $ 2.8 $— $— $ 2.8
Employee termination costs ..................... — 36.7 (1.3) — 35.4
Fiscal 2002 Plan
Lease termination costs . . . . . . . . . . . . . . . . . . . . . . . . . 4.2 — (1.1) — 3.1
Other
Lease termination costs . . . . . . . . . . . . . . . . . . . . . . . . . 0.6 1.9 (0.8) 1.7
Employee termination costs . . . . . . . . . . . . . . . . . . . . . 0.8 1.6 (1.5) — 0.9
Total ................................... $5.6 $43.0 $(4.7) $— $43.9
Currentportion ............................... $1.7 $38.4
Non-currentportion ........................... 3.9 5.5
Total ................................... $5.6 $43.9
Balance at
January 31,
2007 Additions
Charges
Utilized Adjustments
Balance at
January 31,
2008
Fiscal 2002 Plan
Lease termination costs . . . . . . . . . . . . . . . . . . . . . . . . . $ 4.9 $ 0.3 $(0.9) $(0.1) $ 4.2
Other
Lease termination costs . . . . . . . . . . . . . . . . . . . . . . . . . 1.0 0.1 (0.5) — 0.6
Employee termination costs . . . . . . . . . . . . . . . . . . . . . 0.1 0.9 — (0.2) 0.8
Total ................................... $6.0 $ 1.3 $(1.4) $(0.3) $ 5.6
Currentportion ............................... $1.5 $ 1.7
Non-currentportion ........................... 4.5 3.9
Total ................................... $6.0 $ 5.6
Note 15. Subsequent Events
Divestiture of Location Services
In January 2009, Autodesk entered into an agreement to divest substantially all of the assets and liabilities of
its Location Services division to a company controlled by Hale Capital Partners, a private equity firm, or its
affiliates (“Hale”). The transaction closed on February 13, 2009. In exchange for the Location Services assets and
liabilities, Autodesk received warrants to acquire up to a 15 percent interest in the newly formed entity; the
warrants may only be exercised in the case of a liquidating event of the company which is currently controlled by
Hale. At January 31, 2009, the Company had net liabilities held for sale of $0.3 million related to its Location
Services division. The Location Services division’s net revenue was $22.4 million, $18.2 million and $10.6
million for fiscal 2009, 2008 and 2007, respectively.
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