Autodesk, Inc.

Condensed Consolidated Statements of Cash Flows

(In millions)

Nine Months Ended October 31,

2021

2020

(Unaudited)

Operating activities:

Net income

$

407.9

$

296.9

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation, amortization and accretion

113.9

92.2

Stock-based compensation expense

409.8

291.5

Deferred income taxes

15.4

13.0

Other

13.1

48.6

Changes in operating assets and liabilities, net of business combinations:

Accounts receivable

70.0

112.8

Prepaid expenses and other assets

(138.8)

(61.6)

Accounts payable and other liabilities

(67.4)

42.3

Deferred revenue

(28.4)

(78.3)

Accrued income taxes

13.0

22.2

Net cash provided by operating activities

808.5

779.6

Investing activities:

Purchases of marketable securities

(56.5)

(21.0)

Sales and maturities of marketable securities

4.0

17.0

Capital expenditures

(49.5)

(67.6)

Purchases of developed technologies

(9.6)

(4.8)

Business combinations, net of cash acquired

(1,185.1)

(44.8)

Other investing activities

(2.3)

(55.5)

Net cash used in investing activities

(1,299.0)

(176.7)

Financing activities:

Proceeds from issuance of common stock, net of issuance costs

113.3

112.9

Taxes paid related to net share settlement of equity awards

(147.8)

(105.0)

Repurchases of common stock

(482.7)

(399.4)

Proceeds from debt, net of discount

997.0

—

Repayment of debt

—

(450.0)

Other financing activities

(6.5)

(2.5)

Net cash provided by (used in) financing activities

473.3

(844.0)

Effect of exchange rate changes on cash and cash equivalents

(6.1)

3.4

Net decrease in cash and cash equivalents

(23.3)

(237.7)

Cash and cash equivalents at beginning of period

1,772.2

1,774.7

Cash and cash equivalents at end of period

$

1,748.9

$

1,537.0

Supplemental cash flow disclosure:

Non-cash financing activities:

Fair value of common stock issued to settle liability-classified restricted stock units

$

2.7

$

28.7

Fair value of common stock issued related to business combination

$

2.6

$

—