Autodesk 2013 Annual Report Download - page 121

and our available credit facility will be sufficient to meet our working capital and operating resource expenditure requirements
for at least the next 12 months. Our existing credit facility at March 18, 2013 is $400.0 million of which we have no amounts
outstanding. This credit facility is available for working capital and general corporate purposes. In addition, as of March 18,
2013, we have $750.0 million aggregate principal amount of Senior Notes outstanding.
Our revenue, earnings, cash flows, receivables and payables are subject to fluctuations due to changes in foreign currency
exchange rates. Our risk management strategy uses foreign currency contracts to manage our exposure to foreign currency
volatility that exists as part of our ongoing business operations. We use hedge contracts, such as cash flow hedges. to reduce the
exchange rate impact on a portion of the net revenue or operating expense of certain anticipated transactions. In addition, we
use hedge contracts, such as balance sheet hedges, to reduce the exchange rate risk associated primarily with foreign currency
denominated receivables and payables. As of January 31, 2013 and 2012, we had open cash flow and balance sheet related
hedge contracts with future settlements within one to twelve months. Contracts were primarily denominated in euros, Japanese
yen, Swiss francs, British pounds, Canadian dollars, and Australian dollars. We do not enter into any foreign exchange
derivative instruments for trading or speculative purposes. The notional amount of our option and forward contracts was $438.2
million and $494.7 million at January 31, 2013 and 2012, respectively.
Contractual Obligations
The following table summarizes our significant financial contractual obligations at January 31, 2013 and the effect such
obligations are expected to have on our liquidity and cash flows in future periods.
Total Fiscal 2014 Fiscal Years 2015-2016 Fiscal Years 2017-2018 Thereafter
(in millions)
Notes $ 883.8 $ 20.4 $ 40.8 $ 433.9 $ 388.7
Operating lease obligations 289.3 58.9 98.4 68.8 63.2
Purchase obligations 48.7 44.7 4.0 — —
Deferred compensation obligations 35.3 3.9 8.9 4.0 18.5
Pension obligations 19.0 2.3 4.2 4.1 8.4
Other obligations(1) 38.2 15.7 13.2 6.1 3.2
Total(2) $ 1,314.3 $ 145.9 $ 169.5 $ 516.9 $ 482.0
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(1) Other obligations include future sabbatical obligations and asset retirement obligations.
(2) This table generally excludes amounts already recorded on the balance sheet as current liabilities, certain purchase obligations as
discussed below, long term deferred revenue and amounts related to income tax liabilities for uncertain tax positions, since we cannot
predict with reasonable reliability the timing of cash settlements to the respective taxing authorities (see Note 4, “Income Taxes” to the
Notes to Consolidated Financial Statements).
Notes consist of senior notes issued in December 2012. The notes consisted of $400.0 million aggregate principal
amount of 1.95% senior notes due December 15, 2017 notes and $350.0 million aggregate principal amount of 3.6% senior
notes due December 15, 2022.
Operating lease obligations consist primarily of obligations for facilities, net of sublease income, computer equipment
and other equipment leases.
Purchase obligations are contractual obligations for purchase of goods or services and are defined as agreements that are
enforceable and legally binding on Autodesk and that specify all significant terms, including: fixed or minimum quantities to be
purchased; fixed, minimum or variable price provisions; and the approximate timing of the transaction. Purchase obligations
relate primarily to hosting services agreements, IT infrastructure costs, and marketing costs.
Deferred compensation obligations relate to amounts held in a rabbi trust under our non-qualified deferred compensation
plan. See Note 6, “Deferred Compensation,” in our Notes to Consolidated Financial Statements for further information
regarding this plan.
Pension obligations relate to our obligations for pension plans outside of the U.S. See Note 14, “Retirement Benefit
Plans,” in our Notes to Consolidated Financial Statements for further information regarding these obligations.
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2013 Annual Report