Autodesk 2016 Annual Report Download - page 155

2016 Form 10-K 83
January 31, 2015
Amortized
Cost
Gross
unrealized
gains
Gross
unrealized
losses
Fair
Value Level 1 Level 2 Level 3
Cash equivalents (1):
Certificates of deposit $ 258.6 $ — $ — $ 258.6 $ 258.6 $ — $ —
Commercial paper 161.0 — — 161.0 — 161.0 —
Corporate bond 11.5 — — 11.5 11.5 — —
Custody cash deposit 141.5 — — 141.5 141.5 — —
Money market funds 127.3 — — 127.3 — 127.3 —
Marketable securities:
Short-term available for sale
Agency bonds 37.9 — — 37.9 37.9 — —
Certificates of deposit 101.9 — — 101.9 101.9 — —
Commercial paper 258.4 — — 258.4 — 258.4 —
Corporate debt securities 148.0 0.1 (0.1) 148.0 148.0 — —
Municipal bond 29.2 0.1 — 29.3 29.3 — —
Short-term trading securities
Mutual funds 36.9 3.4 — 40.3 40.3 — —
Long-term available for sale
Agency bond 50.6 0.2 — 50.8 50.8 — —
Corporate debt securities 199.4 0.6 (0.2) 199.8 199.8 — —
Municipal securities 13.3 0.1 — 13.4 13.4 — —
U.S. government agency securities 8.9 0.1 — 9.0 9.0 — —
Convertible debt securities (2) 4.7 2.5 (2.1) 5.1 — — 5.1
Derivative contracts (3) 3.5 19.5 (7.0) 16.0 — 15.1 0.9
Total $ 1,592.6 $ 26.6 $ (9.4) $ 1,609.8 $ 1,042.0 $ 561.8 $ 6.0
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(1) Included in “Cash and cash equivalents” in the accompanying Consolidated Balance Sheets.
(2) Considered "available for sale" securities and included in "Other assets" in the accompanying Consolidated Balance Sheets.
(3) Included in “Prepaid expenses and other current assets,” "Other assets," or “Other accrued liabilities” in the accompanying
Consolidated Balance Sheets.
Autodesk classifies its marketable securities as either short-term or long-term based on each instrument’s underlying
contractual maturity date. Marketable securities with remaining maturities of less than 12 months are classified as short-term
and marketable securities with remaining maturities greater than 12 months are classified as long-term. Autodesk may sell
certain of its marketable securities prior to their stated maturities for strategic purposes or in anticipation of credit deterioration.
Autodesk applies fair value accounting for certain financial assets and liabilities, which consist of cash equivalents,
marketable securities, and other financial instruments, on a recurring basis. The Company defines fair value as the price that
would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the
measurement date. Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair
value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and
significant to the fair value measurement: (Level 1) observable inputs such as quoted prices in active markets; (Level 2) inputs
other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or
liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for
substantially the full term of the assets or liabilities; and (Level 3) unobservable inputs for which there is little or no market
data, which require Autodesk to develop its own assumptions. When determining fair value, Autodesk uses observable market
data and relies on unobservable inputs only when observable market data is not available. There have been no transfers between
fair value measurement levels during the year ended January 31, 2016.
Autodesk's cash equivalents, marketable securities, and financial instruments are primarily classified within Level 1 or
Level 2 of the fair value hierarchy. Autodesk values it's available for sale securities on pricing from pricing vendors, who may
use quoted prices in active markets for identical assets (Level 1) or inputs other than quoted prices that are observable either
2016 Annual Report