AUTODESK, INC. ANNOUNCES FISCAL 2025 THIRD QUARTER RESULTS

 

Autodesk, Inc.




Condensed Consolidated Statements of Cash Flows




(In millions)









Nine Months Ended October 31,


2024


2023


(Unaudited)

Operating activities:




Net income

$              809


$              624

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




Depreciation, amortization and accretion

134


102

Stock-based compensation expense

497


544

Amortization of costs to obtain a contract with a customer (1)

136


97

Deferred income taxes

(60)


(116)

Lease-related asset impairments


7

Other

(7)


(15)

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




Accounts receivable

177


380

Prepaid expenses and other assets (1)

(221)


(160)

Accounts payable and other liabilities (1)

1


(65)

Deferred revenue

(612)


(551)

Accrued income taxes

61


29

Net cash provided by operating activities

915


876

Investing activities:




Purchases of marketable securities

(632)


(944)

Sales and maturities of marketable securities

690


529

Capital expenditures

(26)


(21)

Purchases of intangible assets

(57)


(25)

Business combinations, net of cash acquired

(801)


(44)

Other investing activities

(10)


(19)

Net cash used in investing activities

(836)


(524)

Financing activities:




Proceeds from issuance of common stock, net of issuance costs

121


130

Taxes paid related to net share settlement of equity awards

(208)


(153)

Repurchases of common stock

(443)


(730)

Net cash used in financing activities

(530)


(753)

Effect of exchange rate changes on cash and cash equivalents

(4)


(20)

Net decrease in cash and cash equivalents

(455)


(421)

Cash and cash equivalents at beginning of period

1,892


1,947

Cash and cash equivalents at end of period

$            1,437


$           1,526





Supplemental cash flow disclosure:




Non-cash financing activities:




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

$                    3


$                   9

____________________

(1) During the quarter ended April 30, 2024, the Company changed its presentation of the amortization of costs capitalized to obtain a contract with a customer in our Condensed Consolidated Statements of Cash Flows. Amortization of costs capitalized to obtain a contract with a customer were previously presented in "Changes in operating assets and liabilities, net of business combinations" and are now presented in "Adjustments to reconcile net income to net cash provided by operating activities." Accordingly, prior period amounts have been reclassified to conform to the current period presentation. These reclassifications did not impact total net cash provided by operating activities. The effect of the change on the Condensed Consolidated Statement of Cash Flows for the nine months ended October 31, 2023 was $97 million.


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