Autodesk, Inc. |
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Condensed Consolidated Statements of Cash Flows |
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(In millions) |
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| Six Months Ended July 31, | ||||||
| 2019 |
| 2018 | ||||
| (Unaudited) | ||||||
Operating activities: |
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Net income (loss) | $ | 16.0 |
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| $ | (121.8) |
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Adjustments to reconcile net income (loss) to net cash provided by operating activities: |
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Depreciation, amortization and accretion | 64.8 |
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| 46.3 |
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Stock-based compensation expense | 163.4 |
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| 111.3 |
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Deferred income taxes | 35.8 |
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| (0.3) |
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Restructuring and other exit costs, net | 0.4 |
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| 36.6 |
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Other operating activities | (4.2) |
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| (1.3) |
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Changes in operating assets and liabilities, net of acquisitions: |
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Accounts receivable | 125.8 |
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| 204.2 |
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Prepaid expenses and other current assets | 27.4 |
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| 7.9 |
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Accounts payable and accrued liabilities | (138.1) |
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| (201.3) |
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Deferred revenue | 158.3 |
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| (66.7) |
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Accrued income taxes | (9.1) |
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| 11.5 |
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Net cash provided by operating activities | 440.5 |
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| 26.4 |
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Investing activities: |
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Purchases of marketable securities | (19.9) |
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| (110.1) |
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Sales of marketable securities | 22.4 |
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| 27.0 |
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Maturities of marketable securities | 5.0 |
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| 119.6 |
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Capital expenditures | (29.5) |
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| (36.7) |
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Acquisitions, net of cash acquired | — |
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| (34.1) |
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Other investing activities | (10.5) |
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| (6.0) |
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Net cash used in investing activities | (32.5) |
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| (40.3) |
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Financing activities: |
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Proceeds from issuance of common stock, net of issuance costs | 49.7 |
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| 50.4 |
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Taxes paid related to net share settlement of equity awards | (31.2) |
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| (53.0) |
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Repurchase and retirement of common stock | (134.6) |
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| (154.7) |
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Repayment of debt | (250.0) |
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| — |
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Net cash used in financing activities | (366.1) |
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| (157.3) |
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Effect of exchange rate changes on cash and cash equivalents | (4.0) |
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| (11.4) |
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Net increase (decrease) in cash and cash equivalents | 37.9 |
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| (182.6) |
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Cash and cash equivalents at beginning of the period | 886.0 |
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| 1,078.0 |
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Cash and cash equivalents at end of the period | $ | 923.9 |
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| $ | 895.4 |
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