Autodesk 2012 Annual Report Download - page 121

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Geographical concentrations of consolidated cash, cash equivalents and marketable securities held by Autodesk as of
January 31:
United States
Other Americas
Europe, Middle East and Africa (“EMEA”)
Asia Pacific (“APAC”)
2012
11%
1%
51%
37%
2011
14%
1%
49%
36%
Autodesk's primary commercial banking relationship is with Citibank and its global affiliates (“Citibank”). The
Company's cash and cash equivalents are held by diversified financial institutions globally. Citicorp USA, Inc., an affiliate of
Citibank, is one of the lead lenders and agent in the syndicate of Autodesk's $400.0 million line of credit facility.
Autodesk’s accounts receivable are derived from sales to a large number of resellers, distributors and direct customers in
the Americas; EMEA; and APAC geographies. Autodesk performs ongoing evaluations of its customers’ financial condition
and limits the amount of credit extended when deemed necessary, but generally does not require collateral from such parties.
Total sales to the Company's largest distributor Tech Data Corporation, and its global affiliates (“Tech Data”), accounted for
17%, 16% and 14% of our net revenue for fiscal years ended 2012, 2011 and 2010, respectively. The majority of the net
revenue from sales to Tech Data relates to Autodesk's Platform Solutions and Emerging Business segment and is for sales made
outside of the United States. In addition, Tech Data accounted for 21% and 16% of trade accounts receivable at January 31,
2012 and 2011, respectively. In October 2011, Tech Data purchased certain assets of Mensch and Maschine Software (“MuM”),
which has been a distributor of our products in Europe. The acquisition concentrates additional sales through Tech Data, which
on a consolidated basis would have accounted for 21%, 22% and 21% of our net revenue for fiscal years 2012, 2011 and 2010,
if the acquisition had taken place at the beginning of fiscal 2010.
Computer Equipment, Software, Furniture and Leasehold Improvements, Net
Computer equipment, software and furniture are depreciated using the straight-line method over the estimated useful
lives of the assets, which range from three to five years. Leasehold improvements are amortized on a straight-line basis over the
shorter of their estimated useful lives or the lease term. Depreciation expense was $43.7 million in fiscal 2012, $47.6 million in
fiscal 2011 and $50.4 million in fiscal 2010.
Computer equipment, software, furniture, leasehold improvements and the related accumulated depreciation at
January 31 were as follows:
Computer software, at cost
Computer hardware, at cost
Leasehold improvements, land and buildings, at cost
Furniture and equipment, at cost
Less: Accumulated depreciation
Computer software, hardware, leasehold improvements, furniture and
equipment, net
2012
$ 133.5
153.3
139.5
47.7
474.0
(369.5)
$ 104.5
2011
$ 129.4
123.7
121.3
43.6
418.0
(333.5)
$ 84.5
Costs incurred for computer software developed or obtained for internal use are capitalized for application development
activities, if material, and immediately expensed for preliminary project activities and post-implementation activities. These
capitalized costs are amortized over the software’s expected useful life, which is generally three years.
Software Development Costs
Software development costs incurred prior to the establishment of technological feasibility are included in research and
development expenses. Autodesk defines establishment of technological feasibility as the completion of a working model.
Software development costs incurred subsequent to the establishment of technological feasibility through the period of general
market availability of the products are capitalized and generally amortized over a one year period, if material. Autodesk had no
capitalized software development costs at January 31, 2012 and January 31, 2011.
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2012 Annual Report