Autodesk 2016 Annual Report Download - page 167

2016 Form 10-K 95
The following table summarizes the fair value of the assets acquired and liabilities assumed by major class for each of the
business combinations and technology acquisitions completed during the fiscal year ended January 31, 2015:
Shotgun Within Delcam Other
Developed technologies $ 5.4 $ 4.6 $ 28.9 $ 39.0
Customer relationships 7.5 3.6 39.7 9.8
Trade name 1.6 1.2 16.5 6.3
Goodwill 43.2 80.6 190.4 180.6
Deferred Revenue (0.7) — (10.4) (0.4)
Deferred tax (liability) asset (2.6) (1.7) (13.2) (2.1)
Net tangible assets 0.1 (0.3) 32.7 1.3
Total $ 54.5 $ 88.0 $ 284.6 $ 234.5
6. Deferred Compensation
At January 31, 2016, Autodesk had marketable securities totaling $1,430.2 million, of which $38.0 million related to
investments in debt and equity securities that are held in a rabbi trust under non-qualified deferred compensation plans. The
total related deferred compensation liability was $38.0 million at January 31, 2016, of which $1.9 million was classified as
current and $36.1 million was classified as non-current liabilities. The total related deferred compensation liability at
January 31, 2015 was $40.3 million, of which $5.3 million was classified as current and $35.0 million was classified as non-
current liabilities. The securities are recorded in the Consolidated Balance Sheets under the current portion of "Marketable
Securities". The current and non-current portions of the liability are recorded in the Consolidated Balance Sheets under
“Accrued compensation” and “Other liabilities,” respectively.
7. Borrowing Arrangements
In June 2015, Autodesk issued $450.0 million aggregate principal amount of 3.125% senior notes due June 15, 2020 and
$300.0 million aggregate principal amount of 4.375% senior notes due June 15, 2025 (collectively, the “2015 Senior Notes”).
Autodesk received net proceeds of $742.0 million from issuance of the 2015 Senior Notes, net of a discount of $1.7 million and
issuance costs of $6.3 million. Both the discount and issuance costs are being amortized to interest expense over the respective
terms of the 2015 Senior Notes using the effective interest method. The proceeds of the 2015 Senior Notes are available for
general corporate purposes. Autodesk may redeem the 2015 Senior Notes at any time, subject to a make whole premium. In
addition, upon the occurrence of certain change of control triggering events, Autodesk may be required to repurchase the 2015
Senior Notes, at a price equal to 101% of their principal amount, plus accrued and unpaid interest to the date of repurchase. The
2015 Senior Notes contain restrictive covenants that limit Autodesk's ability to create certain liens, to enter into certain sale and
leaseback transactions and to consolidate or merge with, or convey, transfer or lease all or substantially all of its assets, subject
to significant qualifications and exceptions. Based on quoted market prices, the fair value of the 2015 Senior Notes was
approximately $756.9 million as of January 31, 2016.
In December 2012, Autodesk issued $400.0 million aggregate principal amount of 1.95% senior notes due December 15,
2017 and $350.0 million aggregate principal amount of 3.6% senior notes due December 15, 2022 (collectively, the "2012
Senior Notes"). Autodesk received net proceeds of $739.3 million from issuance of the 2012 Senior Notes, net of a discount of
$4.5 million and issuance costs of $6.1 million. Both the discount and issuance costs are being amortized to interest expense
over the respective terms of the 2012 Senior Notes using the effective interest method. The proceeds of the 2012 Senior Notes
are available for general corporate purposes. Autodesk may redeem the 2012 Senior Notes at any time, subject to a make whole
premium. In addition, upon the occurrence of certain change of control triggering events, Autodesk may be required to
repurchase the 2012 Senior Notes, at a price equal to 101% of their principal amount, plus accrued and unpaid interest to the
date of repurchase. The 2012 Senior Notes contain restrictive covenants that limit our ability to create certain liens, to enter into
certain sale and leaseback transactions and to consolidate or merge with, or convey, transfer, or lease all or substantially all of
our assets, subject to significant qualifications and exceptions. Based on quoted market prices, the fair value of the 2012 Senior
Notes was approximately $738.0 million as of January 31, 2016.
Autodesk’s line of credit facility permits unsecured short-term borrowings of up to $400.0 million with an option to
request an increase in the amount of the credit facility by up to an additional $100.0 million, and is available for working capital
or other business needs. This credit agreement contains customary covenants that could restrict the imposition of liens on
2016 Annual Report