Autodesk 2016 Annual Report Download - page 158
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2016 Form 10-K 86
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, 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,
2016 and January 31, 2015:
Balance Sheet Location
Fair Value at
January 31, 2016 January 31, 2015
Derivative Assets
Foreign currency contracts designated as cash flow hedges
Prepaid expenses and other
current assets (1) $ 3.4 $ 20.4
Derivatives not designated as hedging instruments Prepaid expenses and other
current assets and Other
assets 4.9 0.9
Total derivative assets $ 8.3 $ 21.3
Derivative Liabilities
Foreign currency contracts designated as cash flow hedges Other accrued liabilities (2) $ 3.4 $ 5.4
Derivatives not designated as hedging instrument Other accrued liabilities 3.0 —
Total derivative liabilities $ 6.4 $ 5.4
_______________
(1) Considering Autodesk's master netting arrangements, these contracts are presented net settled. The gross balance is $5.1 million and
$23.8 million at January 31, 2016 and January 31, 2015, respectively.
(2) Considering Autodesk's master netting arrangements, these contracts are presented net settled. The gross balance is $5.1 million and
$8.7 million at January 31, 2016 and January 31, 2015, 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, 2016, 2015, and 2014, respectively (amounts presented include any income tax
effects):
Foreign Currency Contracts
Fiscal Year Ended January 31,
2016 2015 2014
Amount of gain recognized in accumulated other comprehensive income on derivatives
(effective portion) $ 2.2 $ 46.4 $ 12.2
Amount and location of gain reclassified from accumulated other comprehensive income into
income (effective portion)
Net revenue $ 39.8 $ 10.5 $ 13.1
Operating expenses (10.5) (3.5) (1.6)
Total $ 29.3 $ 7.0 $ 11.5
Amount and location of (loss) gain recognized in income on derivatives (ineffective portion
and amount excluded from effectiveness testing)
Interest and other expense, net $ (0.7) $ 0.9 $ (0.1)
2016 Annual Report