Autodesk 2011 Annual Report Download - page 121

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AUTODESK, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
Fiscal year ended January 31,
2011 2010 2009
(in millions)
Operating Activities
Net income ........................................................ $ 212.0 $ 58.0 $ 183.6
Adjustments to reconcile net income to net cash provided by operating activities:
Charge for acquired in-process research and development ............... — — 26.9
Depreciation and amortization ..................................... 105.4 111.5 91.8
Stock-based compensation expense ................................. 80.7 93.6 89.5
Impairment of goodwill and intangibles .............................. — 21.0 128.9
Restructuring charges, net ........................................ 10.8 48.2 38.9
Changes in operating assets and liabilities, net of business combinations:
Accounts receivable ............................................. (40.7) 37.3 81.8
Deferred income taxes ........................................... (2.1) (13.5) (13.8)
Prepaid expenses and other current assets ............................ (12.9) 4.4 (7.8)
Accounts payable and accrued liabilities ............................. 83.7 (80.3) (93.6)
Deferred revenue ............................................... 71.5 (34.0) 40.8
Accrued income taxes ............................................ 32.4 0.6 26.9
Net cash provided by operating activities ........................ 540.8 246.8 593.9
Investing Activities
Purchases of marketable securities .................................. (507.2) (568.9) (118.6)
Sales of marketable securities ..................................... 135.3 26.4 75.0
Maturities of marketable securities ................................. 275.4 328.7 8.4
Business combinations, net of cash acquired .......................... (13.5) (18.8) (364.5)
Capital expenditures ............................................. (28.3) (39.0) (78.4)
Purchase of equity investment ..................................... (4.0) (11.4) —
Net cash used in investing activities ............................. (142.3) (283.0) (478.1)
Financing Activities
Proceeds from issuance of common stock, net of issuance costs ........... 120.9 70.0 90.1
Repurchases of common stock ..................................... (280.3) (63.2) (256.6)
Draws on line of credit ........................................... — 2.2 912.4
Repayments of line of credit ....................................... — (54.3) (860.3)
Net cash used in financing activities ............................ (159.4) (45.3) (114.4)
Effect of exchange rate changes on cash and cash equivalents ................ (2.7) 2.6 (1.7)
Net increase (decrease) in cash and cash equivalents ....................... 236.4 (78.9) (0.3)
Cash and cash equivalents at beginning of fiscal year ....................... 838.7 917.6 917.9
Cash and cash equivalents at end of fiscal year ............................ $1,075.1 $ 838.7 $ 917.6
Supplemental cash flow information:
Net cash paid during the year for income taxes ........................ $ 32.5 $ 42.1 $ 63.4
Supplemental non-cash investing activity:
Increase in goodwill and corresponding change in other accrued liabilities
resulting from adjustments to purchase accounting estimates ........... $ — $ 0.7 $ 2.8
See accompanying Notes to Consolidated Financial Statements.
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