Autodesk 2015 Annual Report Download - page 170

2015 Form 10-K 78
In addition to these foreign currency contracts, Autodesk holds derivative instruments issued by privately held companies,
which are not designated as hedging instruments. These derivatives consist of certain conversion options on the convertible debt
securities held by Autodesk and an option to acquire a privately held company. These derivatives are recorded at fair value as of
each balance sheet date and are recorded in “Other assets.” Changes in the fair values of these instruments are recognized in income
as “Interest and other (expense) income, net.”
Fair Value of Derivative Instruments:
The fair value of derivative instruments in Autodesk’s Consolidated Balance Sheets were as follows as of January 31,
2015 and January 31, 2014:
Balance Sheet Location
Fair Value at
January 31, 2015 January 31, 2014
Derivative Assets
Foreign currency contracts designated as cash flow hedges Prepaid expenses and other current assets (1) $ 20.4 $ 4.4
Derivatives not designated as hedging instruments Prepaid expenses and other
current assets and Other
assets 0.9 16.9
Total derivative assets $ 21.3 $ 21.3
Derivative Liabilities
Foreign currency contracts designated as cash flow hedges Other accrued liabilities (2) $ 5.4 $ 1.7
Total derivative liabilities $ 5.4 $ 1.7
_______________
(1) Considering Autodesk's master netting arrangements, these contracts are presented net settled. The gross balance is $23.8 million and
$5.9 million at January 31, 2015 and January 31, 2014, respectively.
(2) Considering Autodesk's master netting arrangements, these contracts are presented net settled. The gross balance is $8.7 million and
$3.2 million at January 31, 2015 and January 31, 2014, respectively.
The effects of derivatives designated as hedging instruments on Autodesk’s Consolidated Statements of Operations were
as follows for the fiscal years ended January 31, 2015, 2014, and 2013, respectively (amounts presented include any income tax
effects):
Foreign Currency Contracts
Fiscal Year Ended January 31,
2015 2014 2013
Amount of gain recognized in accumulated other comprehensive income on
derivatives (effective portion) $ 46.4 $ 12.2 $ 5.1
Amount and location of gain reclassified from accumulated other comprehensive
income into income (effective portion)
Net revenue $ 10.5 $ 13.1 $ 16.0
Operating expenses (3.5) (1.6) (4.6)
Total $ 7.0 $ 11.5 $ 11.4
Amount and location of gain (loss) recognized in income on derivatives
(ineffective portion and amount excluded from effectiveness testing)
Interest and other (expense) income, net $ 0.9 $ (0.1) $ (0.2)
2015 Annual Report