Autodesk 2013 Annual Report Download - page 154

potential amount of future payments Autodesk could be required to make under these indemnification agreements is unlimited;
however, Autodesk has directors’ and officers’ liability insurance coverage that is intended to reduce its financial exposure and
may enable Autodesk to recover a portion of any future amounts paid. Autodesk believes the estimated fair value of these
indemnification agreements in excess of applicable insurance coverage is minimal.
Legal Proceedings
Autodesk is involved in a variety of claims, suits, investigations and proceedings in the normal course of business
activities including claims of alleged infringement of intellectual property rights, commercial, employment, piracy prosecution,
business practices and other matters. In the Company's opinion, resolution of pending matters is not expected to have a material
adverse impact on its consolidated results of operations, cash flows or its financial position. Given the unpredictable nature of
legal proceedings, there is a reasonable possibility that an unfavorable resolution of one or more such proceedings could in the
future materially affect the Company's results of operations, cash flows or financial position in a particular period, however,
based on the information known by the Company as of the date of this filing and the rules and regulations applicable to the
preparation of the Company's financial statements, any such amount is either immaterial or it is not possible to provide an
estimated amount of any such potential loss.
9. Stockholders' Equity
Preferred Stock
Under Autodesk’s Certificate of Incorporation, 2.0 million shares of preferred stock are authorized. At January 31, 2013,
there were no preferred shares issued or outstanding. The Board of Directors has the authority to issue the preferred stock in
one or more series and to fix rights, preferences, privileges and restrictions, including dividends and the number of shares
constituting any series or the designation of such series, without any further vote or action by the stockholders.
Common Stock Repurchase Programs
Autodesk has a stock repurchase program that is used largely to help offset the dilution from the issuance of stock under
the Company’s employee stock plans, reduce shares over time as facts and circumstances warrant and for such other purposes
as may be in the interests of Autodesk and its stockholders, and has the effect of returning excess cash generated from the
Company's business to stockholders. Autodesk repurchased and retired 12.5 million shares in fiscal 2013 at an average
repurchase price of $34.50 per share, 9.7 million shares in fiscal 2012 at an average repurchase price of $33.71 per share and
9.0 million shares in fiscal 2011 at an average repurchase price of $31.13.
At January 31, 2013, 32.2 million shares remained available for repurchase under repurchase plans approved by the
Board of Directors. This amount includes the 30.0 million share increase approved by the Board of Directors in June 2012. In
fiscal 2013, 2012 and 2011, Autodesk repurchased its common stock through open market purchases. The number of shares
acquired and the timing of the purchases are based on several factors, including general market conditions, the number of
employee stock option exercises, stock issuance, the trading price of Autodesk common stock, cash on hand and available in
the United States, and company defined trading windows.
10. Interest and Other Income, net
Interest and other income, net, consists of the following:
Fiscal Year Ended January 31,
2013 2012 2011
Interest and investment income, net (1) $ 4.9 $ 5.4 $ 8.9
Gain (loss) on foreign currency 1.2 (1.1) (14.0)
(Loss) gain on strategic investments (1) (4.0) 0.3 2.0
Other income 2.0 2.7 3.7
Interest and other income, net $ 4.1 $ 7.3 $ 0.6
____________________
(1) For comparability, the presentation of the balances at January 31, 2012 and January 31, 2011 was adjusted to align to current year
presentation.
82