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AUTODESK, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
Fiscal year ended January 31,
2013 2012 2011
(in millions)
Operating Activities
Net income $ 247.4 $ 285.3 $ 212.0
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and accretion 127.8 115.5 105.4
Stock-based compensation expense 156.3 108.8 80.7
Excess tax benefits from stock-based compensation (12.9) (31.5) —
Restructuring charges (benefits), net 43.9 (1.3) 10.8
Other operating activities 6.7 (0.3) (2.0)
Changes in operating assets and liabilities, net of business combinations:
Accounts receivable (98.1) (71.8) (40.7)
Deferred income taxes (28.3) (33.8) (2.1)
Prepaid expenses and other current assets 0.1 17.7 (12.9)
Accounts payable and accrued liabilities (28.3) 2.9 85.7
Deferred revenue 113.3 129.6 71.5
Accrued income taxes 31.2 52.4 32.4
Net cash provided by operating activities 559.1 573.5 540.8
Investing Activities
Purchases of marketable securities (1,397.7) (614.2) (507.2)
Sales of marketable securities 332.9 149.5 135.3
Maturities of marketable securities 764.8 409.6 275.4
Acquisitions, net of cash acquired (263.7) (221.7) (13.5)
Capital expenditures (56.4) (63.0) (28.3)
Other investing activities (27.1) (30.5) (4.0)
Net cash used in investing activities (647.2) (370.3) (142.3)
Financing Activities
Proceeds from issuance of common stock, net of issuance costs 220.2 176.1 120.9
Repurchases of common stock (431.2) (327.4) (280.3)
Draws on line of credit 110.0 — —
Proceeds from debt, net of discount 745.6 — —
Repayments of line of credit (110.0) — —
Excess tax benefits from stock-based compensation 12.9 31.5 —
Other financing activities (6.1) — —
Net cash provided by (used in) financing activities 541.4 (119.8) (159.4)
Effect of exchange rate changes on cash and cash equivalents 2.0 (1.6) (2.7)
Net increase in cash and cash equivalents 455.3 81.8 236.4
Cash and cash equivalents at beginning of fiscal year 1,156.9 1,075.1 838.7
Cash and cash equivalents at end of fiscal year $ 1,612.2 $ 1,156.9 $ 1,075.1
Supplemental cash flow information:
Cash paid during the year for interest $ 0.4 $ —$ —
Net cash paid during the year for income taxes $ 59.7 $ 63.0 $ 32.5
See accompanying Notes to Consolidated Financial Statements.
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2013 Annual Report