Autodesk 2016 Annual Report Download - page 126

2016 Form 10-K 54
Amortization of Purchased Intangibles
Fiscal Year
Ended
January 31,
2016
Decrease compared to
prior fiscal year
Fiscal Year
Ended
January 31,
2015
Increase compared to
prior fiscal year
Fiscal Year
Ended
January 31,
2014 $ % $ %
(in millions)
Amortization of purchased
intangibles $ 33.2 $ (6.6) (17)% $ 39.8 $ 3.3 9% $ 36.5
As a percentage of net revenue 1% 2% 2%
Amortization of purchased intangibles decreased 17% from fiscal 2015 to fiscal 2016, primarily related to the
accumulated effects associated with amortization expense of intangible assets purchased over time, including $59.1 million in
assets purchased in fiscal 2016 as compared to $164.1 million purchased in fiscal 2015.
Amortization of purchased intangibles increased 9% from fiscal 2014 to fiscal 2015, primarily related to the accumulated
effects associated with amortization expense of intangible assets purchased over time, including $164.1 million in assets
purchased in fiscal 2015 as compared to $40.3 million purchased in fiscal 2014.
We expect amortization of purchased intangibles expense to decrease in absolute dollars and remain flat as a percentage
of net revenue during fiscal 2017, as compared to fiscal 2016.
Restructuring Charges, Net
Fiscal Year
Ended
January 31,
2016
Decrease compared to
prior fiscal year
Fiscal Year
Ended
January 31,
2015
Decrease compared to
prior fiscal year
Fiscal Year
Ended
January 31,
2014 $ % $ %
(in millions)
Restructuring charges, net $ — $ (3.1) (100)% $ 3.1 $ (9.7) (76)% $ 12.8
As a percentage of net revenue —% —% 1%
During fiscal 2016, Autodesk recorded no restructuring charges. We have substantially completed the actions authorized
under the previous restructuring plans. See Note 15, “Restructuring Reserves” in Notes to Consolidated Financial Statements
for further discussion regarding the previous restructuring plans.
On February 2, 2016, our Board of Directors approved a world-wide restructuring plan that includes a reduction in force
that will result in the termination of approximately 10% of the Company’s workforce, or approximately 925 employees, and the
consolidation of certain leased facilities. See Note 17, "Subsequent Events (Unaudited)," for further discussion regarding the
anticipated amount and timing of the expenditures related to this action.
Interest and Other Expense, Net
The following table sets forth the components of interest and other expense, net:
Fiscal Year Ended January 31,
2016 2015 2014
(in millions)
Interest and investment expense, net $ (33.9) $ (13.2) $ (9.8)
(Loss) gain on foreign currency — (3.9) 4.0
Gain (loss) on strategic investments 3.8 (23.3) (1.8)
Other income 8.5 2.7 2.7
Interest and other expense, net $ (21.6) $ (37.7) $ (4.9)
2016 Annual Report