Autodesk 2011 Annual Report Download - page 35

Download and view the complete annual report

Please find page 35 of the 2011 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.

Page out of 176

  • 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

Financial Targets
For fiscal 2011, the Compensation Committee also set financial performance targets that increased funding
with an increase of revenue and non-GAAP operating margin. The following represents funding at two financial
performance levels, “Baseline Performance” and “Stretch Performance”:
• Anything below the “Baseline Performance” target would have resulted in less than 75% funding.
• Anything above the “Stretch Performance” target would have resulted in more than 100% funding.
Fiscal 2011 Performance Targets
Performance Level Performance Target Funding as a % of Target Funding
“Baseline” Performance Revenue: $1.795 billion
Non-GAAP Operating Margin: 18.6% 75% of Target Funding
“Stretch” Performance Revenue: $1.834 billion
Non-GAAP Operating Margin: 20.0%
100% of Target Funding
Individual Performance Goals
For fiscal year 2011, each named executive officer’s individual performance goals were to support the
following broad corporate performance goals:
Fiscal 2011 Broad Corporate Goals
Increase Revenue and Margin
Improve Customers’ Experience in all of their Interactions with Autodesk
Ensure Autodesk Remains a Truly Great Place to Work
Fiscal 2011 Results. For fiscal 2011, the Company’s revenue was approximately $1.952 billion and
non-GAAP operating margin was approximately 21.4%.
The achievement of these financial targets resulted in an overall annual short-term cash incentive funding at
127% of the otherwise target short-term cash incentives which are described below. For fiscal 2011, the
Compensation Committee assessed each participant’s individual goals, including management effectiveness and
achievement of the broad corporate goals. Based on these factors, including the financial performance targets
outlined above, a participant may receive actual short-term cash incentive that is larger or smaller than his or her
target award amount, or may receive no short-term cash incentive whatsoever. The actual award for executive
officers reflects a combination of the target award, financial performance, and assessment of the individual’s
performance during the year, and reflects the discretionary authority of the Compensation Committee.
Actual Awards to Individuals. As discussed above, the Compensation Committee determines the actual
awards based not only on the financial performance targets discussed above, but also on an evaluation of each
individual’s performance. The Compensation Committee makes these determinations using its discretion, and the
Compensation Committee does not specifically weight any particular factor nor apply any prescribed formula in
determining the amount of the actual awards.
At its March 2011 meetings, the Compensation Committee reviewed our financial performance and the
individual performance of each of our Named Executive Officers for fiscal 2011. The achievement of the
financial performance targets resulted in an overall annual short-term cash incentive funding at 127% of the
target short-term cash incentive amounts.
29