Autodesk 2015 Annual Report Download - page 139

2015 Form 10-K 47
Marketing and Sales
Fiscal Year
Ended
January 31,
2015
Increase compared to
prior fiscal year Fiscal Year
Ended
January 31,
2014
Decrease compared to
prior fiscal year Fiscal Year
Ended
January 31,
2013
$ % $ %
(in millions)
Marketing and sales $ 998.0 $ 155.4 18% $ 842.6 $ (32.9) (4)% $ 875.5
As a percentage of net revenue 40% 37% 38%
Marketing and sales expenses include salaries, bonuses, benefits, and stock-based compensation expense for our
marketing and sales employees, the expense of travel, entertainment and training for such personnel, the costs of programs
aimed at increasing revenue, such as advertising, trade shows and expositions, and various sales and promotional programs.
Marketing and sales expenses also include labor costs of sales and order processing, sales and dealer commissions, rent and
occupancy, and the cost of supplies and equipment.
Marketing and sales expenses increased 18% during fiscal 2015, as compared to fiscal 2014, primarily due to higher
employee-related costs from salaries, commissions, and bonuses as well as advertising and promotional expenses. Marketing
and sales expenses decreased 4% during fiscal 2014, as compared to fiscal 2013, primarily due to lower advertising and
promotional expenses and employee-related costs from salaries, bonuses, and commissions.
We expect to balance our need to invest in the marketing and sales of our products with our desire to actively manage our
marketing and sales operating expenses. As a result, we expect marketing and sales expense to slightly increase in absolute
dollars and slightly decrease as a percentage of net revenue in fiscal 2016 as compared to fiscal 2015 primarily due to an
increase in costs as we work towards meeting our major business initiatives.
Research and Development
Fiscal Year
Ended
January 31,
2015
Increase compared to
prior fiscal year
Fiscal Year
Ended
January 31,
2014
Increase compared to
prior fiscal year
Fiscal Year
Ended
January 31,
2013 $ % $ %
(in millions)
Research and development $ 725.2 $ 114.1 19% $ 611.1 $ 11.1 2% $ 600.0
As a percentage of net revenue 29% 27% 26%
Research and development expenses, which are expensed as incurred, consist primarily of salaries, bonuses, benefits, and
stock-based compensation expense for research and development employees, and the expense of travel, entertainment and
training for such personnel, rent and occupancy, and professional services such as fees paid to software development firms and
independent contractors.
Research and development expenses increased 19% during fiscal 2015, as compared to fiscal 2014, primarily due to an
increase in employee-related costs from salaries and bonuses and an increase in professional fees. Research and development
expenses increased 2% during fiscal 2014, as compared to fiscal 2013, primarily due to an increase in employee-related costs
from salaries and fringe benefits and an increase in professional fees partially offset by a decline in stock-based compensation
expense due to a one-time charge associated with the acquisition of Socialcam in fiscal 2013.
We expect research and development expense to increase in absolute dollars but remain consistent as a percentage of net
revenue during fiscal 2016, as compared to fiscal 2015, as we continue to invest in product development in fiscal 2016.
2015 Annual Report