Autodesk 2011 Annual Report Download - page 141

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AUTODESK, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
The following table summarizes Autodesk’s investments and financial instruments measured at fair value on
a recurring basis as of January 31, 2010:
Fair Value Measurements at January 31, 2010 Using
Quoted Prices
in Active
Markets for
Identical Assets
Significant
Other
Observable
Inputs
Significant
Unobservable
Inputs
Total(Level 1) (Level 2) (Level 3)
Assets
Cash equivalents(1):
Certificates of deposit and time deposits ......... $ 64.0 $208.8 $ — $272.8
Commercial paper .......................... — 299.5 — 299.5
Money market funds ......................... — 49.4 — 49.4
Municipal securities ......................... 0.8 — — 0.8
Marketable securities:
Commercial paper and corporate securities ....... 115.9 69.0 — 184.9
Certificates of deposit and time deposits ......... 20.0 4.6 — 24.6
U.S. government agency securities ............. 18.0 — — 18.0
Mutual funds ............................... 26.3 — — 26.3
Municipal securities ......................... 10.5 — — 10.5
Money market funds ......................... — — 10.0 10.0
Taxable auction-rate securities ................. — — 7.6 7.6
U.S. treasury securities and sovereign debt ....... 5.2 — — 5.2
Other ..................................... 0.4 — — 0.4
Foreign currency derivative contracts(2) ............. — 4.3 — 4.3
Total ..................................... $261.1 $635.6 $17.6 $914.3
Liabilities
Foreign currency derivative contracts(3) ............. — 0.4 — 0.4
Total ..................................... $ — $ 0.4 $— $ 0.4
(1) Included in “Cash and cash equivalents” in the accompanying Consolidated Balance Sheets.
(2) Included in “Prepaid expenses and other current assets” in the accompanying Consolidated Balance Sheets.
(3) Included in “Other accrued liabilities” in the accompanying Consolidated Balance Sheets.
Autodesk’s cash equivalents and marketable securities are primarily classified within Level 1 or Level 2 of
the fair value hierarchy because they are valued primarily using quoted market prices, or alternative pricing
sources and models utilizing market observable inputs with reasonable levels of price transparency. The
Company’s investments held in the International Fund at January 31, 2010 and in auction rate securities at
January 31, 2011 and 2010 are designated as Level 3. The Company conducted its fair value assessment of the
International Fund using Level 1 and Level 3 inputs. At January 31, 2010, management reviewed the
International Fund’s underlying portfolio, which was substantially comprised of cash deposited into the U.S.
District Court’s Registry at the Federal Reserve Bank of New York. Normally, the Company would have
classified such investments within Level 1 of the fair value hierarchy. Management evaluated the fair value of its
unit interest in the International Fund, considering risk of collection, timing and other factors. These assumptions
are inherently subjective and involve significant management judgment. As a result, the Company classified its
holdings in the International Fund within Level 3 of the fair value hierarchy. Autodesk’s investments in auction
rate securities are classified within Level 3 because they are valued using a discounted cash flow model, and
some of the inputs to this model are unobservable in the market.
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