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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Autodesk Inc | NASDAQ:ADSK | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.5859 | 0.27% | 220.8259 | 220.73 | 220.84 | 221.18 | 218.43 | 219.95 | 772,324 | 20:04:28 |
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x
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ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
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¨
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TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
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Delaware
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94-2819853
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(State or other jurisdiction
of incorporation or organization)
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(I.R.S. employer
Identification No.)
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111 McInnis Parkway,
San Rafael, California
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94903
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(Address of principal executive offices)
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(Zip Code)
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Title of each class
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Name of each exchange
on which registered
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Common Stock, $0.01 Par Value
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The NASDAQ Stock Market LLC
(NASDAQ Global Select Market)
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Large accelerated filer
x
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Accelerated filer
o
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Non-accelerated filer
o
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Smaller reporting company
o
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Emerging growth company
o
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Page
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Item 1.
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Item 1A.
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Item 1B.
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Item 2.
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Item 3.
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Item 4.
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Item 5.
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Item 6.
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Item 7.
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Item 7A.
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Item 8.
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Item 9.
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Item 9A.
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Item 9B.
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Item 10.
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Item 11.
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Item 12.
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Item 13.
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Item 14.
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Item 15.
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Item 16.
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ITEM 1.
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BUSINESS
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•
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AutoCAD
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•
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AutoCAD LT
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•
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Industry Collections
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•
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CAM Solutions
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•
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AutoCAD Civil 3D
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•
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Maya
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•
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3ds Max
|
•
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Revit
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•
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Inventor
|
•
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BIM 360
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•
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Shotgun
|
•
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Fusion 360
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Date of closing
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Company
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Details
|
November 2015
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netfabb GmbH ("netfabb")
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|
The acquisition of netfabb GmbH (“netfabb”) provided Autodesk with software solutions that reduced production costs and increased efficiency in 3D printing and additive manufacturing.
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Fiscal Year Ended
|
||
(in millions)
|
January 31, 2018
|
||
Deferred revenue
|
$
|
1,955.1
|
|
Unbilled deferred revenue (1)
|
326.4
|
|
|
Total
|
$
|
2,281.5
|
|
(1)
|
This is our first year presenting this metric and we are not able to provide historical information at this time. Comparative information will not be available until fiscal 2019.
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ITEM 1A.
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RISK FACTORS
|
•
|
economic volatility;
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•
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fluctuating currency exchange rates, including risks related to any hedging activities we undertake;
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•
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unexpected changes in regulatory requirements and practices;
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•
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delays resulting from difficulty in obtaining export licenses for certain technology;
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•
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different purchase patterns as compared to the developed world;
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•
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tariffs, quotas, and other trade barriers and restrictions;
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•
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operating in locations with a higher incidence of corruption and fraudulent business practices, particularly in emerging economies;
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•
|
increasing enforcement by the U.S. under the Foreign Corrupt Practices Act, and adoption of stricter anti-corruption laws in certain countries, including the United Kingdom;
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•
|
difficulties in staffing and managing foreign sales and development operations;
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•
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local competition;
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•
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longer collection cycles for accounts receivable;
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•
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U.S. and foreign tax law changes impacting how multinational companies are taxed;
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•
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tax arrangements with foreign governments, including our ability to meet and renew the terms of those tax arrangements;
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•
|
laws regarding the management of and access to data and public networks;
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•
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possible future limitations upon foreign owned businesses;
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•
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increased financial accounting and reporting burdens and complexities;
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•
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inadequate local infrastructure;
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•
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greater difficulty in protecting intellectual property;
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•
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software piracy; and
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•
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other factors beyond our control, including popular uprisings, terrorism, war, natural disasters, and diseases.
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•
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general market, economic, business, and political conditions in particular geographies, including Europe, APAC, and emerging economies;
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•
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failure to produce sufficient revenue, billings or subscription growth, and profitability;
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•
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failure to achieve anticipated levels of customer acceptance of our business model transition, including the impact of the end of perpetual licenses and the introduction of our maintenance-to-subscription program;
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•
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restructuring or other accounting charges and unexpected costs or other operating expenses;
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•
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changes in product mix, pricing pressure or changes in product pricing;
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•
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weak or negative growth in one or more of the industries we serve, including AEC, manufacturing, and digital media and entertainment markets;
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•
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the success of new business or sales initiatives;
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•
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security breaches, related reputational harm, and potential financial penalties to customers and government entities;
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•
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timing of additional investments in the development of our platform or deployment of our services;
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•
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changes in revenue recognition or other accounting guidelines employed by us and/or established by the Financial Accounting Standards Board or other rule-making bodies;
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•
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fluctuations in foreign currency exchange rates and the effectiveness of our hedging activity;
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•
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failure to achieve and maintain cost reductions and productivity increases;
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•
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dependence on and the timing of large transactions;
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•
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changes in billings linearity;
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•
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adjustments arising from ongoing or future tax examinations;
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•
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the ability of governments around the world to adopt fiscal policies, meet their financial and debt obligations, and to finance infrastructure projects;
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•
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lower renewals of our maintenance program;
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•
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failure to expand our AutoCAD and AutoCAD LT customer base to related design products and services;
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•
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our ability to rapidly adapt to technological and customer preference changes, including those related to cloud computing, mobile devices, new computing platforms, and 3D printing;
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•
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the timing of the introduction of new products by us or our competitors;
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•
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the financial and business condition of our reseller and distribution channels;
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•
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failure to accurately predict the impact of acquired businesses or to identify and realize the anticipated benefits of acquisitions, and successfully integrate such acquired businesses and technologies;
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•
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perceived or actual technical or other problems with a product or combination of products;
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•
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unexpected or negative outcomes of matters and expenses relating to litigation or regulatory inquiries;
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•
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increases in cloud services-related expenses;
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•
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timing of product releases and retirements;
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•
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changes in tax laws or regulations, tax arrangements with foreign governments or accounting rules, such as increased use of fair value measures;
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•
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changes in sales compensation practices;
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•
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failure to effectively implement our copyright legalization programs, especially in developing countries;
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•
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failure to achieve sufficient sell-through in our channels for new or existing products;
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•
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renegotiation or termination of royalty or intellectual property arrangements;
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•
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interruptions or terminations in the business of our consultants or third-party developers;
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•
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the timing and degree of expected investments in growth and efficiency opportunities;
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•
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failure to achieve continued success in technology advancements;
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•
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catastrophic events or natural disasters;
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•
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regulatory compliance costs;
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•
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potential goodwill impairment charges related to prior acquisitions; and
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•
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failure to appropriately estimate the scope of services under consulting arrangements.
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•
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the inability to retain customers, key employees, vendors, distributors, business partners, and other entities associated with the acquired business;
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•
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the potential that due diligence of the acquired business or product does not identify significant problems;
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•
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exposure to litigation or other claims in connection with, or inheritance of claims or litigation risk as a result of, an acquisition, including but not limited to, claims from terminated employees, customers, or other third parties;
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•
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the potential for incompatible business cultures;
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•
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significantly higher than anticipated transaction or integration-related costs;
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•
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potential additional exposure to fluctuations in currency exchange rates; and
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•
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the potential impact on relationships with existing customers, vendors, and distributors as business partners as a result of acquiring another business.
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•
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shortfalls in our expected financial results, including net revenue, billings, ARR, ARPS, earnings, subscriptions, or other key performance metrics;
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•
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results and future projections related to our business model transition;
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•
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quarterly variations in our or our competitors' results of operations;
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•
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general socio-economic, political or market conditions;
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•
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changes in estimates of future results or recommendations or confusion on the part of analysts and investors about the short-term and long-term impact to our business resulting from our business model transition;
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•
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uncertainty about certain governments' abilities to repay debt or effect fiscal policy;
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•
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the announcement of new products or product enhancements by us or our competitors;
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•
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unusual events such as significant acquisitions, divestitures, regulatory actions, and litigation;
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•
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changes in laws, rules, or regulations applicable to our business;
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•
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outstanding debt service obligations; and
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•
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other factors, including factors unrelated to our operating performance, such as instability affecting the economy or the operating performance of our competitors.
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•
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increasing our vulnerability to adverse changes in general economic, industry and competitive conditions;
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•
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requiring the dedication of a greater than expected portion of our expected cash from operations to service our indebtedness, thereby reducing the amount of expected cash flow available for other purposes, including capital expenditures and acquisitions; and
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•
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limiting our flexibility in planning for, or reacting to, changes in our business and our industry.
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ITEM 1B.
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UNRESOLVED STAFF COMMENTS
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ITEM 2.
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PROPERTIES
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ITEM 3.
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LEGAL PROCEEDINGS
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ITEM 4.
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MINE SAFETY DISCLOSURES
|
ITEM 5.
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MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
|
|
High
|
|
Low
|
||||
Fiscal 2018
|
|
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|
||||
First Quarter
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$
|
90.94
|
|
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$
|
80.04
|
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Second Quarter
|
115.25
|
|
|
91.17
|
|
||
Third Quarter
|
125.01
|
|
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104.77
|
|
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Fourth Quarter
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131.10
|
|
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103.19
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|
||
Fiscal 2017
|
|
|
|
||||
First Quarter
|
$
|
62.42
|
|
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$
|
41.60
|
|
Second Quarter
|
61.42
|
|
|
49.82
|
|
||
Third Quarter
|
73.40
|
|
|
56.80
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|
||
Fourth Quarter
|
83.96
|
|
|
67.15
|
|
(Shares in millions)
|
Total Number of Shares Purchased
|
|
Average Price Paid per Share
|
|
Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs(1)
|
|
Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs(2)
|
|||||
November 1- November 30
|
0.4
|
|
|
$
|
109.18
|
|
|
0.4
|
|
|
21.7
|
|
December 1 - December 31
|
2.0
|
|
|
107.35
|
|
|
2.0
|
|
|
19.7
|
|
|
January 1 - January 31
|
0.1
|
|
|
113.26
|
|
|
0.1
|
|
|
19.6
|
|
|
Total
|
2.5
|
|
|
$
|
107.86
|
|
|
2.5
|
|
|
|
(1)
|
Represents shares purchased in open-market transactions under the stock repurchase program approved by the Board of Directors.
|
(2)
|
These amounts correspond to the plan approved by the Board of Directors in September 2016 that authorizes the repurchase of
30.0 million
shares. The plan does not have a fixed expiration date.
|
(1)
|
Assumes $100 invested on January 31, 2013, in Autodesk’s stock, the Standard & Poor’s 500 Stock Index, and the Dow Jones U.S. Software Index, with reinvestment of all dividends. Total stockholder returns for prior periods are not an indication of future investment returns.
|
ITEM 6.
|
SELECTED FINANCIAL DATA
|
|
Fiscal Year Ended January 31,
|
||||||||||||||||||
|
2018
|
|
2017
|
|
2016
|
|
2015
|
|
2014
|
||||||||||
|
(In millions, except per share data)
|
||||||||||||||||||
For the Fiscal Year:
|
|
|
|
|
|
|
|
|
|
||||||||||
Net revenue
|
$
|
2,056.6
|
|
|
$
|
2,031.0
|
|
|
$
|
2,504.1
|
|
|
$
|
2,512.2
|
|
|
$
|
2,273.9
|
|
(Loss) income from operations
|
(509.1
|
)
|
|
(499.6
|
)
|
|
1.3
|
|
|
120.7
|
|
|
284.8
|
|
|||||
Net (loss) income
|
(566.9
|
)
|
|
(582.1
|
)
|
|
(330.5
|
)
|
|
81.8
|
|
|
228.8
|
|
|||||
Cash flow from operations
|
0.9
|
|
|
169.7
|
|
|
414.0
|
|
|
708.6
|
|
|
572.6
|
|
|||||
Common Stock Data:
|
|
|
|
|
|
|
|
|
|
||||||||||
Basic net (loss) income per share
|
$
|
(2.58
|
)
|
|
$
|
(2.61
|
)
|
|
$
|
(1.46
|
)
|
|
$
|
0.36
|
|
|
$
|
1.02
|
|
Diluted net (loss) income per share
|
(2.58
|
)
|
|
(2.61
|
)
|
|
(1.46
|
)
|
|
0.35
|
|
|
1.00
|
|
|||||
At Year End:
|
|
|
|
|
|
|
|
|
|
||||||||||
Total assets
|
$
|
4,113.6
|
|
|
$
|
4,798.1
|
|
|
$
|
5,515.3
|
|
|
$
|
4,909.7
|
|
|
$
|
4,589.9
|
|
Long-term liabilities
|
2,246.4
|
|
|
1,879.1
|
|
|
2,304.7
|
|
|
1,290.4
|
|
|
1,256.9
|
|
|||||
Stockholders’ (deficit) equity
|
(256.0
|
)
|
|
733.6
|
|
|
1,619.6
|
|
|
2,219.2
|
|
|
2,261.5
|
|
ITEM 7.
|
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
|
•
|
Level 1
- Quoted prices for identical instruments in active markets;
|
•
|
Level 2
- Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets; and
|
•
|
Level 3
- Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.
|
•
|
future expected cash flows from sales, maintenance agreements, and acquired developed technologies;
|
•
|
the acquired company's trade name, trademark and existing customer relationship, as well as assumptions about the period of time the acquired trade name and trademark will continue to be used in the our product portfolio;
|
•
|
expected costs to develop the in-process research and development into commercially viable products and estimated cash flows from the projects when completed; and
|
•
|
discount rates used to determine the present value of estimated future cash flows.
|
•
|
Total net revenue increased
1 percent
during fiscal 2018 as compared to the prior fiscal year.
|
•
|
Total ARR increased
25 percent
as of
January 31, 2018
, as compared to the end of fiscal 2017.
|
•
|
Total subscriptions increased
20 percent
to
$3.72 million
.
|
•
|
The base of both subscription plan ARR and subscriptions surpassed the base of maintenance plan ARR and subscriptions.
|
•
|
Total spend (cost of revenue + operating expenses) increased
1 percent
.
|
•
|
Total deferred revenue (short term + long term deferred revenue)
increased
9 percent
.
|
|
Fiscal Year Ended January 31, 2018
|
|
Change compared to
prior fiscal year end |
|
Fiscal Year Ended January 31, 2017(1)
|
Change compared to
prior fiscal year end |
Fiscal Year Ended January 31, 2016(1)
|
||||||||||||||||
|
|
$
|
|
%
|
|
$
|
|
%
|
|||||||||||||||
Recurring Revenue
(in millions)
(2)
|
$
|
1,882.3
|
|
|
$
|
342.0
|
|
|
22
|
%
|
|
$
|
1,540.3
|
|
$
|
160.2
|
|
|
12
|
%
|
$
|
1,380.1
|
|
As a percentage of net revenue
|
92
|
%
|
|
|
|
|
|
76
|
%
|
|
|
|
55
|
%
|
(1)
|
Prior periods have been adjusted to conform with current period's presentation.
|
(2)
|
The acquisition of a business may cause variability in the comparison of recurring revenue in this table above and recurring revenue derived from the revenue reported in the Consolidated Statement of Operations.
|
(1)
|
Prior periods have been adjusted to conform with the current period's presentation.
|
(2)
|
The acquisition of a business may cause variability in the comparison of ARR reported in this table above and ARR derived from the revenue reported in the Consolidated Statement of Operations.
|
(3)
|
There are small variances between ARR and total subscriptions due in part to the inherent limitation with collecting all subscriptions information. For example, Buzzsaw and Constructware are included with ARR but not in total subscriptions due to these inherent limitations. We do not view these variances as meaningful to amounts or quarterly comparisons presented here for ARPS.
|
|
Fiscal Year Ended January 31, 2018
|
||||||
|
Percent change compared to
prior fiscal year (as reported) |
|
Constant Currency percent change compared to
prior fiscal year (2) |
|
Positive/Negative/Neutral impact from foreign exchange rate changes
|
||
Revenue
|
1
|
%
|
|
2
|
%
|
|
Negative
|
Spend (1)
|
1
|
%
|
|
1
|
%
|
|
Neutral
|
(1)
|
Our total spend is defined as cost of revenue plus operating expenses.
|
(2)
|
Please refer to Glossary of Terms for the definitions of our constant currency growth rates.
|
|
|
||
(in millions)
|
Fiscal Year Ended January 31, 2018
|
||
Deferred revenue
|
$
|
1,955.1
|
|
Unbilled deferred revenue (1)
|
326.4
|
|
|
Total
|
$
|
2,281.5
|
|
(1)
|
This is our first year presenting this metric and we are not able to provide historical information at this time. Comparative information will not be available until our first quarter of fiscal 2019.
|
|
Fiscal Year Ended January 31, 2018
|
|
Change compared to prior fiscal year
|
|
Fiscal Year Ended January 31, 2017
|
|
Management Comments
|
|||||||||
(in millions)
|
$
|
|
%
|
|
|
|||||||||||
Net Revenue:
|
|
|
|
|
|
|
|
|
|
|||||||
Maintenance (1)
|
$
|
989.6
|
|
|
$
|
(113.5
|
)
|
|
(10
|
)%
|
|
$
|
1,103.1
|
|
|
The decrease in maintenance revenue is driven by the discontinuation of new maintenance agreements. We expect maintenance revenue will slowly decline; however, the rate of decline will vary based on the number of renewals, the renewal rate, and our ability to incentivize maintenance plan customers to switch over to subscription plan offerings.
|
Subscription (1)
|
894.3
|
|
|
451.2
|
|
|
102
|
%
|
|
443.1
|
|
|
The increase in subscription revenue is primarily a result of the business model transition. We saw growth across all subscription plan types, led by product subscriptions and enterprise business agreements.
|
|||
Total maintenance and subscription revenue
|
1,883.9
|
|
|
337.7
|
|
|
22
|
%
|
|
1,546.2
|
|
|
|
|||
License and other (1) (2)
|
172.7
|
|
|
(312.1
|
)
|
|
(64
|
)%
|
|
484.8
|
|
|
The decrease in license revenue is driven by the business model transition, and the discontinuation of suite license sales, resulting in a decrease in revenue from perpetual licenses.
|
|||
|
$
|
2,056.6
|
|
|
$
|
25.6
|
|
|
1
|
%
|
|
$
|
2,031.0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)
|
Prior periods have been adjusted to conform with current period's presentation. See Note 1, "
Business and Summary of Significant Accounting Policies
" of our consolidated financial statements for additional information.
|
(2)
|
Within license and other revenue, there was an
18%
decrease in other revenue during fiscal 2018 as compared to fiscal 2017. Other revenue represented
5%
and
6%
of total revenue for fiscal
2018
and
2017
, respectively.
|
|
Fiscal Year Ended January 31, 2017
|
|
Change compared to prior fiscal year
|
|
Fiscal Year Ended January 31, 2016
|
|
Management Comments
|
|||||||||
(in millions)
|
$
|
|
%
|
|
|
|||||||||||
Net Revenue:
|
|
|
|
|
|
|
|
|
|
|||||||
Maintenance (1)
|
$
|
1,103.1
|
|
|
$
|
(49.4
|
)
|
|
(4
|
)%
|
|
$
|
1,152.5
|
|
|
The decrease in maintenance revenue is driven by the discontinuation of new maintenance agreements. We expect maintenance revenue will slowly decline; however, the rate of decline will vary based on the number of renewals, the renewal rate, and our ability to incentivize maintenance plan customers to switch over to subscription plan offerings.
|
Subscription (1)
|
443.1
|
|
|
215.0
|
|
|
94
|
%
|
|
228.1
|
|
|
The increase in subscription revenue is primarily a result of the business model transition. We saw growth across all subscription plan types, led by product subscriptions and enterprise business agreements.
|
|||
Total maintenance and subscription revenue
|
1,546.2
|
|
|
165.6
|
|
|
12
|
%
|
|
1,380.6
|
|
|
|
|||
License and other (1) (2)
|
484.8
|
|
|
(638.7
|
)
|
|
(57
|
)%
|
|
1,123.5
|
|
|
The decrease in license and other revenue is driven by the discontinuation of our perpetual license sales in favor of subscription offerings.
|
|||
|
$
|
2,031.0
|
|
|
$
|
(473.1
|
)
|
|
(19
|
)%
|
|
$
|
2,504.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)
|
Prior periods have been adjusted to conform with current period's presentation. See Note 1, "
Business and Summary of Significant Accounting Policies
" of our consolidated financial statements for additional information.
|
(2)
|
Within license and other revenue, there was a
17%
decrease in other revenue during fiscal 2017 as compared to fiscal 2016. Other revenue represented
6%
and
6%
of total revenue for fiscal
2017
and
2016
, respectively.
|
|
Fiscal Year Ended January 31, 2018
|
|
Change compared to prior fiscal year
|
|
Fiscal Year Ended January 31, 2017
|
|
Management Comments
|
|||||||||
|
|
|||||||||||||||
(in millions)
|
$
|
|
%
|
|
||||||||||||
Net Revenue by Product Family:
|
|
|
|
|
|
|
|
|
|
|||||||
Architecture, Engineering and Construction ("AEC")
|
$
|
866.5
|
|
|
(14.4
|
)
|
|
(2
|
)%
|
|
$
|
880.9
|
|
|
Driven by a net decrease in AEC collections and legacy suites due to the discontinuation of perpetual licenses. The decrease was partially offset by an increase in revenue from individual AEC product offerings and EBAs driven by the respective increases in subscription additions.
|
|
Manufacturing ("MFG")
|
589.2
|
|
|
(36.6
|
)
|
|
(6
|
)%
|
|
625.8
|
|
|
Driven by a net decrease in MFG collections and legacy suites due to the discontinuation of perpetual licenses, partially offset by an increase in revenue from MFG EBAs driven by an increase in subscription additions.
|
|||
AutoCAD and AutoCAD LT ("ACAD")
|
401.4
|
|
|
74.7
|
|
|
23
|
%
|
|
326.7
|
|
|
Driven by increases in both AutoCAD LT and AutoCAD due to increases in subscription additions.
|
|||
Media and Entertainment ("M&E")
|
152.0
|
|
|
13.1
|
|
|
9
|
%
|
|
138.9
|
|
|
Driven by an increase in Animation, partially offset by a decrease in Creative Finishing.
|
|||
Other
|
47.5
|
|
|
(11.2
|
)
|
|
(19
|
)%
|
|
58.7
|
|
|
|
|||
|
$
|
2,056.6
|
|
|
$
|
25.6
|
|
|
1
|
%
|
|
$
|
2,031.0
|
|
|
|
|
Fiscal Year Ended January 31, 2017
|
|
Change compared to prior fiscal year
|
|
Fiscal Year Ended January 31, 2016
|
|
Management Comments
|
|||||||||
|
|
|
||||||||||||||
(in millions)
|
$
|
|
%
|
|
|
|||||||||||
Net Revenue by Product Family:
|
|
|
|
|
|
|
|
|
|
|||||||
Architecture, Engineering and Construction ("AEC")
|
$
|
880.9
|
|
|
$
|
(68.2
|
)
|
|
(7
|
)%
|
|
$
|
949.1
|
|
|
Driven by a decrease in revenue from individual product offerings.
|
Manufacturing ("MFG")
|
625.8
|
|
|
(98.8
|
)
|
|
(14
|
)%
|
|
724.6
|
|
|
Driven by a decrease in individual product offerings and a decrease in our MFG suites.
|
|||
AutoCAD and AutoCAD LT ("ACAD")
|
326.7
|
|
|
(268.1
|
)
|
|
(45
|
)%
|
|
594.8
|
|
|
As part of the transition to term-based product subscriptions for our individual software products in February 2016, products like AutoCAD and AutoCAD LT were negatively impacted when compared to the same period in the prior fiscal year as revenue is recognized ratably rather than upfront.
|
|||
Media and Entertainment ("M&E")
|
138.9
|
|
|
(21.1
|
)
|
|
(13
|
)%
|
|
160.0
|
|
|
Driven by a decrease in Creative Finishing, as we exited the Creative Finishing hardware business at the beginning of the fourth quarter of fiscal 2016.
|
|||
Other
|
58.7
|
|
|
(16.9
|
)
|
|
(22
|
)%
|
|
75.6
|
|
|
|
|||
|
$
|
2,031.0
|
|
|
$
|
(473.1
|
)
|
|
(19
|
)%
|
|
$
|
2,504.1
|
|
|
|
|
Fiscal Year Ended January 31, 2018
|
|
Change compared to prior fiscal year
|
|
Constant Currency Change compared to prior fiscal year
|
|
Fiscal Year Ended January 31, 2017
|
|
Change compared to prior fiscal year
|
|
Constant Currency Change compared to prior fiscal year
|
|
Fiscal Year Ended January 31, 2016
|
||||||||||||||||||
|
|||||||||||||||||||||||||||||||
(in millions)
|
$
|
|
%
|
%
|
$
|
|
%
|
%
|
|||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||||
Net Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Americas
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
U.S.
|
$
|
740.4
|
|
|
$
|
(1.7
|
)
|
|
—
|
%
|
|
*
|
|
|
$
|
742.1
|
|
|
$
|
(61.8
|
)
|
|
(8
|
)%
|
|
*
|
|
|
$
|
803.9
|
|
Other Americas
|
130.7
|
|
|
0.9
|
|
|
1
|
%
|
|
*
|
|
|
129.8
|
|
|
(39.1
|
)
|
|
(23
|
)%
|
|
*
|
|
|
168.9
|
|
|||||
Total Americas
|
871.1
|
|
|
(0.8
|
)
|
|
—
|
%
|
|
—
|
%
|
|
871.9
|
|
|
(100.9
|
)
|
|
(10
|
)%
|
|
(10
|
)%
|
|
972.8
|
|
|||||
Europe, Middle East, and Africa ("EMEA")
|
815.4
|
|
|
15.0
|
|
|
2
|
%
|
|
4
|
%
|
|
800.4
|
|
|
(134.2
|
)
|
|
(14
|
)%
|
|
(8
|
)%
|
|
934.6
|
|
|||||
Asia Pacific ("APAC")
|
370.1
|
|
|
11.4
|
|
|
3
|
%
|
|
2
|
%
|
|
358.7
|
|
|
(238.0
|
)
|
|
(40
|
)%
|
|
(39
|
)%
|
|
596.7
|
|
|||||
Total Net Revenue (1)
|
$
|
2,056.6
|
|
|
$
|
25.6
|
|
|
1
|
%
|
|
2
|
%
|
|
$
|
2,031.0
|
|
|
$
|
(473.1
|
)
|
|
(19
|
)%
|
|
(16
|
)%
|
|
$
|
2,504.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Emerging Economies
|
$
|
226.5
|
|
|
(1.0
|
)
|
|
—
|
%
|
|
—
|
%
|
|
$
|
227.5
|
|
|
(138.4
|
)
|
|
(38
|
)%
|
|
(37
|
)%
|
|
$
|
365.9
|
|
(1)
|
Totals may not sum due to rounding.
|
|
Fiscal Year Ended January 31, 2018
|
|
Change compared to
prior fiscal year |
|
Fiscal Year Ended January 31, 2017
|
|
Management Comments
|
|||||||||
|
||||||||||||||||
(in millions)
|
$
|
|
%
|
|||||||||||||
Cost of revenue:
|
|
|
|
|
|
|
|
|
|
|||||||
Maintenance and subscription (1)
|
$
|
214.4
|
|
|
$
|
22.7
|
|
|
12
|
%
|
|
$
|
191.7
|
|
|
Up due to an increase in employee-related costs driven by increased headcount associated with maintenance and subscription services in support of the business model transition.
|
License and other (1)
|
72.6
|
|
|
(37.6
|
)
|
|
(34
|
)%
|
|
110.2
|
|
|
Down due to lower employee-related costs from reduced headcount associated with license and other revenue products and services as a result of our move to a subscription based business model.
|
|||
Amortization of developed technology (1)
|
16.4
|
|
|
(23.6
|
)
|
|
(59
|
)%
|
|
40.0
|
|
|
Down as previously acquired developed technologies continue to become fully amortized while fewer assets are acquired compared to the prior year.
|
|||
Total cost of revenue
|
$
|
303.4
|
|
|
$
|
(38.5
|
)
|
|
(11
|
)%
|
|
$
|
341.9
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Marketing and sales
|
$
|
1,087.3
|
|
|
$
|
64.8
|
|
|
6
|
%
|
|
$
|
1,022.5
|
|
|
Up due to increase in employee-related costs from higher headcount, increased commissions, and increased stock-based compensation expense from a higher fair value of awards granted.
|
Research and development
|
755.5
|
|
|
(10.6
|
)
|
|
(1
|
)%
|
|
766.1
|
|
|
Down due to a decrease in employee-related costs from lower headcount.
|
|||
General and administrative
|
305.2
|
|
|
17.4
|
|
|
6
|
%
|
|
287.8
|
|
|
Up driven by costs associated with the CEO transition and an increase in stock-based compensation expense from a higher fair value of awards granted, partially offset by a decrease in employee-related costs from lower headcount.
|
|||
Amortization of purchased intangibles
|
20.2
|
|
|
(11.6
|
)
|
|
(36
|
)%
|
|
31.8
|
|
|
Down as previously acquired intangible assets continue to become fully amortized and fewer assets are acquired compared to the prior year.
|
|||
Restructuring charges and other facility exit costs, net
|
94.1
|
|
|
13.6
|
|
|
17
|
%
|
|
80.5
|
|
|
Driven by the Fiscal 2018 Plan to re-balance resources to better align with the Company's strategic priorities and position itself to meet long-term goals. Costs associated with the Fiscal 2018 Plan are principally from employee termination benefits, lease termination costs and other exit costs.
|
|||
|
$
|
2,262.3
|
|
|
$
|
73.6
|
|
|
3
|
%
|
|
$
|
2,188.7
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fiscal Year Ended January 31, 2017
|
|
Change compared to
prior fiscal year |
|
Fiscal Year Ended January 31, 2016
|
|
Management Comments
|
|||||||||
|
||||||||||||||||
(in millions)
|
$
|
|
%
|
|||||||||||||
Cost of revenue:
|
|
|
|
|
|
|
|
|
|
|||||||
Maintenance and subscription (1)
|
$
|
191.7
|
|
|
$
|
29.4
|
|
|
18
|
%
|
|
$
|
162.3
|
|
|
Up due to increases in employee related costs and direct costs associated with our subscription plan offerings, such as royalties and fulfillment costs.
|
License and other (1)
|
110.2
|
|
|
(49.2
|
)
|
|
(31
|
)%
|
|
159.4
|
|
|
Down due to lower professional fees and employee-related costs from reduced headcount associated with license and other revenue products and the elimination of our Creative Finishing hardware business that was exited in the fourth quarter of fiscal 2016.
|
|||
Amortization of developed technology (1)
|
40.0
|
|
|
(9.0
|
)
|
|
(18
|
)%
|
|
49.0
|
|
|
Down as previously acquired developed technologies continue to become fully amortized while fewer assets are acquired compared to the prior year.
|
|||
Total cost of revenue
|
$
|
341.9
|
|
|
$
|
(28.8
|
)
|
|
(8
|
)%
|
|
$
|
370.7
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Marketing and sales
|
$
|
1,022.5
|
|
|
$
|
7.0
|
|
|
1
|
%
|
|
$
|
1,015.5
|
|
|
Up due to increases in stock-based compensation and advertising and promotional expenses, offset by a decrease in employee-related costs from reduced headcount and lower professional fees.
|
Research and development
|
766.1
|
|
|
(23.9
|
)
|
|
(3
|
)%
|
|
790.0
|
|
|
Down due to a decrease in professional fees and employee-related costs, partially offset by an increase in stock-based compensation expense.
|
|||
General and administrative
|
287.8
|
|
|
(5.6
|
)
|
|
(2
|
)%
|
|
293.4
|
|
|
Down due to decreases in bad debt expense and professional fees.
|
|||
Amortization of purchased intangibles
|
31.8
|
|
|
(1.4
|
)
|
|
(4
|
)%
|
|
33.2
|
|
|
Down as previously acquired intangible assets continue to become fully amortized and fewer assets are acquired compared to the prior year.
|
|||
Restructuring charges and other facility exit costs, net
|
80.5
|
|
|
80.5
|
|
|
*
|
|
—
|
|
|
Driven by the Fiscal 2017 Plan to re-balance staffing levels and reduce operating expenses to better align with the evolving needs of the Company. Costs associated with the Fiscal 2017 Plan are principally from employee termination benefits, lease termination costs and other exit costs.
|
||||
|
$
|
2,188.7
|
|
|
$
|
56.6
|
|
|
3
|
%
|
|
$
|
2,132.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)
|
Prior periods have been adjusted to conform with current period's presentation. See Note 11, Business and Summary of Significant Accounting Policies, Basis of Presentation, of our consolidated financial statements for additional information.
|
|
Absolute dollar impact
|
|
Percent of net revenue impact
|
Cost of Revenue
|
Decrease
|
|
Decrease
|
Marketing and sales
|
Increase
|
|
Decrease
|
Research and development
|
Increase
|
|
Decrease
|
General and administrative
|
Increase
|
|
Decrease
|
Amortization of purchased intangibles
|
Decrease
|
|
Flat
|
|
Fiscal Year Ended January 31,
|
||||||||||
|
2018
|
|
2017
|
|
2016
|
||||||
|
(in millions)
|
||||||||||
Interest and investment expense, net
|
$
|
(34.5
|
)
|
|
$
|
(29.7
|
)
|
|
$
|
(33.9
|
)
|
Loss on foreign currency
|
(3.3
|
)
|
|
(3.3
|
)
|
|
—
|
|
|||
(Loss) gain on strategic investments
|
(16.4
|
)
|
|
0.3
|
|
|
3.8
|
|
|||
Other income
|
6.0
|
|
|
8.5
|
|
|
8.5
|
|
|||
Interest and other expense, net
|
$
|
(48.2
|
)
|
|
$
|
(24.2
|
)
|
|
$
|
(21.6
|
)
|
|
Fiscal Year Ended January 31,
|
||||||||||
|
2018
|
|
2017
|
|
2016
|
||||||
|
(Unaudited)
|
||||||||||
Gross profit
|
$
|
1,753.2
|
|
|
$
|
1,689.1
|
|
|
$
|
2,133.4
|
|
Non-GAAP gross profit
|
$
|
1,785.5
|
|
|
$
|
1,743.2
|
|
|
$
|
2,194.2
|
|
Gross margin
|
85
|
%
|
|
83
|
%
|
|
85
|
%
|
|||
Non-GAAP gross margin
|
87
|
%
|
|
86
|
%
|
|
88
|
%
|
|||
(Loss) income from operations
|
$
|
(509.1
|
)
|
|
$
|
(499.6
|
)
|
|
$
|
1.3
|
|
Non-GAAP (loss) income from operations
|
$
|
(112.0
|
)
|
|
$
|
(125.5
|
)
|
|
$
|
280.7
|
|
Operating margin
|
(25
|
)%
|
|
(25
|
)%
|
|
—
|
%
|
|||
Non-GAAP operating margin
|
(5
|
)%
|
|
(6
|
)%
|
|
11
|
%
|
|||
Net loss
|
$
|
(566.9
|
)
|
|
$
|
(582.1
|
)
|
|
$
|
(330.5
|
)
|
Non-GAAP net (loss) income
|
$
|
(106.3
|
)
|
|
$
|
(111.0
|
)
|
|
$
|
194.1
|
|
Diluted net (loss) income per share (1)
|
$
|
(2.58
|
)
|
|
$
|
(2.61
|
)
|
|
$
|
(1.46
|
)
|
Non-GAAP diluted (loss) income per share (1)
|
$
|
(0.48
|
)
|
|
$
|
(0.50
|
)
|
|
$
|
0.84
|
|
GAAP diluted weighted average shares used in per share calculation
|
219.5
|
|
|
222.7
|
|
|
226.0
|
|
|||
Non-GAAP diluted weighted average shares used in per share calculation
|
219.5
|
|
|
222.7
|
|
|
230.7
|
|
(1)
|
Net (loss) income per share were computed independently for each of the periods presented; therefore the sum of the net (loss) income per share amount for the quarters may not equal the total for the year.
|
|
Fiscal Year Ended January 31,
|
||||||||||
|
2018
|
|
2017
|
|
2016
|
||||||
|
(Unaudited)
|
||||||||||
Gross profit
|
$
|
1,753.2
|
|
|
$
|
1,689.1
|
|
|
$
|
2,133.4
|
|
Stock-based compensation expense
|
15.9
|
|
|
14.1
|
|
|
11.8
|
|
|||
Amortization of developed technologies
|
16.4
|
|
|
40.0
|
|
|
49.0
|
|
|||
Non-GAAP gross profit
|
$
|
1,785.5
|
|
|
$
|
1,743.2
|
|
|
$
|
2,194.2
|
|
Gross margin
|
85
|
%
|
|
83
|
%
|
|
85
|
%
|
|||
Stock-based compensation expense
|
1
|
%
|
|
1
|
%
|
|
1
|
%
|
|||
Amortization of developed technologies
|
1
|
%
|
|
2
|
%
|
|
2
|
%
|
|||
Non-GAAP gross margin
|
87
|
%
|
|
86
|
%
|
|
88
|
%
|
|||
(Loss) income from operations
|
$
|
(509.1
|
)
|
|
$
|
(499.6
|
)
|
|
$
|
1.3
|
|
Stock-based compensation expense
|
245.0
|
|
|
221.8
|
|
|
197.2
|
|
|||
Amortization of developed technologies
|
16.4
|
|
|
40.0
|
|
|
49.0
|
|
|||
Amortization of purchased intangibles
|
20.2
|
|
|
31.8
|
|
|
33.2
|
|
|||
CEO transition costs (1)
|
21.4
|
|
|
—
|
|
|
—
|
|
|||
Restructuring charges and other facility exit costs, net
|
94.1
|
|
|
80.5
|
|
|
—
|
|
|||
Non-GAAP (loss) income from operations
|
$
|
(112.0
|
)
|
|
$
|
(125.5
|
)
|
|
$
|
280.7
|
|
Operating margin
|
(25
|
)%
|
|
(25
|
)%
|
|
—
|
%
|
|||
Stock-based compensation expense
|
12
|
%
|
|
11
|
%
|
|
8
|
%
|
|||
Amortization of developed technologies
|
1
|
%
|
|
2
|
%
|
|
2
|
%
|
|||
Amortization of purchased intangibles
|
1
|
%
|
|
2
|
%
|
|
1
|
%
|
|||
CEO transition costs (1)
|
1
|
%
|
|
—
|
%
|
|
—
|
%
|
|||
Restructuring charges and other facility exit costs, net
|
5
|
%
|
|
4
|
%
|
|
—
|
%
|
|||
Non-GAAP operating margin
|
(5
|
)%
|
|
(6
|
)%
|
|
11
|
%
|
|||
Net loss
|
$
|
(566.9
|
)
|
|
$
|
(582.1
|
)
|
|
$
|
(330.5
|
)
|
Stock-based compensation expense
|
245.0
|
|
|
221.8
|
|
|
197.2
|
|
|||
Amortization of developed technologies
|
16.4
|
|
|
40.0
|
|
|
49.0
|
|
|||
Amortization of purchased intangibles
|
20.2
|
|
|
31.8
|
|
|
33.2
|
|
|||
CEO transition costs (1)
|
21.4
|
|
|
—
|
|
|
—
|
|
|||
Restructuring charges and other facility exit costs, net
|
94.1
|
|
|
80.5
|
|
|
—
|
|
|||
Loss (gain) on strategic investments
|
16.5
|
|
|
(0.3
|
)
|
|
(3.7
|
)
|
|||
Establishment of valuation allowance on deferred tax assets
|
—
|
|
|
—
|
|
|
230.9
|
|
|||
Discrete tax provision items
|
(20.7
|
)
|
|
(2.7
|
)
|
|
0.8
|
|
|||
Income tax effect of non-GAAP adjustments
|
67.7
|
|
|
100.0
|
|
|
17.2
|
|
|||
Non-GAAP net (loss) income
|
$
|
(106.3
|
)
|
|
$
|
(111.0
|
)
|
|
$
|
194.1
|
|
|
Fiscal Year Ended January 31,
|
||||||||||
|
2018
|
|
2017
|
|
2016
|
||||||
|
(Unaudited)
|
||||||||||
Diluted net (loss) income per share (2)
|
$
|
(2.58
|
)
|
|
$
|
(2.61
|
)
|
|
$
|
(1.46
|
)
|
Stock-based compensation expense
|
1.11
|
|
|
1.00
|
|
|
0.86
|
|
|||
Amortization of developed technologies
|
0.08
|
|
|
0.18
|
|
|
0.21
|
|
|||
Amortization of purchased intangibles
|
0.09
|
|
|
0.14
|
|
|
0.15
|
|
|||
CEO transition costs (1)
|
0.09
|
|
|
—
|
|
|
—
|
|
|||
Restructuring charges and other facility exit costs, net
|
0.43
|
|
|
0.35
|
|
|
—
|
|
|||
Loss (gain) on strategic investments
|
0.08
|
|
|
—
|
|
|
(0.01
|
)
|
|||
Establishment of valuation allowance on deferred tax assets
|
—
|
|
|
—
|
|
|
1.01
|
|
|||
Discrete tax provision items
|
(0.09
|
)
|
|
(0.01
|
)
|
|
—
|
|
|||
Income tax effect of non-GAAP adjustments
|
0.31
|
|
|
0.45
|
|
|
0.08
|
|
|||
Non-GAAP diluted (loss) income per share (2)
|
$
|
(0.48
|
)
|
|
$
|
(0.50
|
)
|
|
$
|
0.84
|
|
(1)
|
CEO transition costs include stock-based compensation of $16.4 million related to the acceleration of eligible stock awards in conjunction with the Company's former CEOs' transition agreements.
|
(2)
|
Net (loss) income per share were computed independently for each of the periods presented; therefore the sum of the net (loss) income per share amount for the quarters may not equal the total for the year.
|
|
Fiscal year ended January 31,
|
||||||||||
(in millions)
|
2018
|
|
2017
|
|
2016
|
||||||
Net cash provided by operating activities
|
$
|
0.9
|
|
|
$
|
169.7
|
|
|
$
|
414.0
|
|
Net cash provided by (used in) investing activities
|
506.4
|
|
|
272.0
|
|
|
(809.5
|
)
|
|||
Net cash used in financing activities
|
(656.6
|
)
|
|
(578.3
|
)
|
|
343.2
|
|
|
Total
|
|
Fiscal 2019
|
|
Fiscal Years 2010-2021
|
|
Fiscal Years 2022-2023
|
|
Thereafter
|
||||||||||
|
|
|
|
|
(in millions)
|
|
|
|
|
||||||||||
Notes
|
$
|
1,955.6
|
|
|
$
|
57.3
|
|
|
$
|
555.7
|
|
|
$
|
434.9
|
|
|
$
|
907.7
|
|
Operating lease obligations
|
247.0
|
|
|
61.3
|
|
|
80.5
|
|
|
47.5
|
|
|
57.7
|
|
|||||
Purchase obligations
|
147.6
|
|
|
63.8
|
|
|
59.7
|
|
|
14.8
|
|
|
9.3
|
|
|||||
Deferred compensation obligations
|
59.0
|
|
|
3.4
|
|
|
9.0
|
|
|
8.3
|
|
|
38.3
|
|
|||||
Pension obligations
|
67.6
|
|
|
7.1
|
|
|
12.9
|
|
|
12.8
|
|
|
34.8
|
|
|||||
Asset retirement obligations
|
10.6
|
|
|
2.9
|
|
|
7.3
|
|
|
0.1
|
|
|
0.3
|
|
|||||
Total (1)
|
$
|
2,487.4
|
|
|
$
|
195.8
|
|
|
$
|
725.1
|
|
|
$
|
518.4
|
|
|
$
|
1,048.1
|
|
(1)
|
This table generally excludes amounts already recorded on the balance sheet as current liabilities, certain purchase obligations as discussed below, long term deferred revenue, and amounts related to income tax liabilities for uncertain tax positions, since we cannot predict with reasonable reliability the timing of cash settlements to the respective taxing authorities (see Note
4
, “
Income Taxes
” to the Notes to Consolidated Financial Statements).
|
ITEM 7A.
|
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
|
ITEM 8.
|
FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
|
|
Fiscal year ended January 31,
|
||||||||||
2018
|
|
2017
|
|
2016
|
|||||||
Net revenue:
|
|
|
|
|
|
||||||
Maintenance
|
$
|
989.6
|
|
|
$
|
1,103.1
|
|
|
$
|
1,152.5
|
|
Subscription
|
894.3
|
|
|
443.1
|
|
|
228.1
|
|
|||
Total maintenance and subscription revenue
|
1,883.9
|
|
|
1,546.2
|
|
|
1,380.6
|
|
|||
License and other
|
172.7
|
|
|
484.8
|
|
|
1,123.5
|
|
|||
Total net revenue
|
2,056.6
|
|
|
2,031.0
|
|
|
2,504.1
|
|
|||
Cost of revenue:
|
|
|
|
|
|
||||||
Cost of maintenance and subscription revenue
|
214.4
|
|
|
191.7
|
|
|
162.3
|
|
|||
Cost of license and other revenue
|
72.6
|
|
|
110.2
|
|
|
159.4
|
|
|||
Amortization of developed technology
|
16.4
|
|
|
40.0
|
|
|
49.0
|
|
|||
Total cost of revenue
|
303.4
|
|
|
341.9
|
|
|
370.7
|
|
|||
Gross profit
|
1,753.2
|
|
|
1,689.1
|
|
|
2,133.4
|
|
|||
Operating expenses:
|
|
|
|
|
|
||||||
Marketing and sales
|
1,087.3
|
|
|
1,022.5
|
|
|
1,015.5
|
|
|||
Research and development
|
755.5
|
|
|
766.1
|
|
|
790.0
|
|
|||
General and administrative
|
305.2
|
|
|
287.8
|
|
|
293.4
|
|
|||
Amortization of purchased intangibles
|
20.2
|
|
|
31.8
|
|
|
33.2
|
|
|||
Restructuring charges and other facility exit costs, net
|
94.1
|
|
|
80.5
|
|
|
—
|
|
|||
Total operating expenses
|
2,262.3
|
|
|
2,188.7
|
|
|
2,132.1
|
|
|||
(Loss) income from operations
|
(509.1
|
)
|
|
(499.6
|
)
|
|
1.3
|
|
|||
Interest and other expense, net
|
(48.2
|
)
|
|
(24.2
|
)
|
|
(21.6
|
)
|
|||
Loss before income taxes
|
(557.3
|
)
|
|
(523.8
|
)
|
|
(20.3
|
)
|
|||
Provision for income taxes
|
(9.6
|
)
|
|
(58.3
|
)
|
|
(310.2
|
)
|
|||
Net loss
|
$
|
(566.9
|
)
|
|
$
|
(582.1
|
)
|
|
$
|
(330.5
|
)
|
Basic net loss per share
|
$
|
(2.58
|
)
|
|
$
|
(2.61
|
)
|
|
$
|
(1.46
|
)
|
Diluted net loss per share
|
$
|
(2.58
|
)
|
|
$
|
(2.61
|
)
|
|
$
|
(1.46
|
)
|
Weighted average shares used in computing basic net loss per share
|
219.5
|
|
|
222.7
|
|
|
226.0
|
|
|||
Weighted average shares used in computing diluted net loss per share
|
219.5
|
|
|
222.7
|
|
|
226.0
|
|
|
Fiscal year ended January 31,
|
||||||||||
|
2018
|
|
2017
|
|
2016
|
||||||
Net loss
|
$
|
(566.9
|
)
|
|
$
|
(582.1
|
)
|
|
$
|
(330.5
|
)
|
Other comprehensive loss, net of reclassifications:
|
|
|
|
|
|
||||||
Net loss on derivative instruments (net of tax effect of $3.2, ($1.1), and $0.6)
|
(31.2
|
)
|
|
(1.1
|
)
|
|
(27.1
|
)
|
|||
Change in net unrealized (loss) gain on available-for-sale securities (net of tax effect of $0.1, ($0.5), and $0.0)
|
(0.2
|
)
|
|
1.3
|
|
|
(1.4
|
)
|
|||
Change in defined benefit pension items (net of tax effect of ($0.7), ($0.9), and $0.9)
|
4.5
|
|
|
(5.5
|
)
|
|
(4.6
|
)
|
|||
Net change in cumulative foreign currency translation gain (loss) (net of tax effect of ($4.8), $0.2, and $0.5)
|
81.6
|
|
|
(52.1
|
)
|
|
(34.7
|
)
|
|||
Total other comprehensive income (loss)
|
54.7
|
|
|
(57.4
|
)
|
|
(67.8
|
)
|
|||
Total comprehensive loss
|
$
|
(512.2
|
)
|
|
$
|
(639.5
|
)
|
|
$
|
(398.3
|
)
|
|
January 31,
2018 |
|
January 31,
2017 |
||||
ASSETS
|
|
|
|
||||
Current assets:
|
|
|
|
||||
Cash and cash equivalents
|
$
|
1,078.0
|
|
|
$
|
1,213.1
|
|
Marketable securities
|
245.2
|
|
|
686.8
|
|
||
Accounts receivable, net
|
438.2
|
|
|
452.3
|
|
||
Prepaid expenses and other current assets
|
116.5
|
|
|
108.4
|
|
||
Total current assets
|
1,877.9
|
|
|
2,460.6
|
|
||
Marketable securities
|
190.8
|
|
|
306.2
|
|
||
Computer equipment, software, furniture, and leasehold improvements, net
|
145.0
|
|
|
158.6
|
|
||
Developed technologies, net
|
27.1
|
|
|
45.7
|
|
||
Goodwill
|
1,620.2
|
|
|
1,561.1
|
|
||
Deferred income taxes, net
|
81.7
|
|
|
63.9
|
|
||
Other assets
|
170.9
|
|
|
202.0
|
|
||
Total assets
|
$
|
4,113.6
|
|
|
$
|
4,798.1
|
|
LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY
|
|
|
|
||||
Current liabilities:
|
|
|
|
||||
Accounts payable
|
$
|
94.7
|
|
|
$
|
93.5
|
|
Accrued compensation
|
250.9
|
|
|
238.2
|
|
||
Accrued income taxes
|
28.0
|
|
|
50.0
|
|
||
Deferred revenue
|
1,551.6
|
|
|
1,270.1
|
|
||
Current portion of long-term notes payable, net
|
—
|
|
|
398.7
|
|
||
Other accrued liabilities
|
198.0
|
|
|
134.9
|
|
||
Total current liabilities
|
2,123.2
|
|
|
2,185.4
|
|
||
Long-term deferred revenue
|
403.5
|
|
|
517.9
|
|
||
Long-term income taxes payable
|
41.6
|
|
|
39.3
|
|
||
Long-term deferred income taxes
|
66.6
|
|
|
91.5
|
|
||
Long-term notes payable, net
|
1,586.0
|
|
|
1,092.0
|
|
||
Long-term other liabilities
|
148.7
|
|
|
138.4
|
|
||
Commitments and contingencies
|
|
|
|
||||
Stockholders’ (deficit) equity:
|
|
|
|
||||
Preferred stock, $0.01 par value; shares authorized 2.0; none issued or outstanding at January 31, 2018 and 2017
|
—
|
|
|
—
|
|
||
Common stock and additional paid-in capital, $0.01 par value; shares authorized 750.0; 218.3 outstanding at January 31, 2018 and 220.3 outstanding at January 31, 2017
|
1,952.7
|
|
|
1,876.3
|
|
||
Accumulated other comprehensive loss
|
(123.8
|
)
|
|
(178.5
|
)
|
||
Accumulated deficit
|
(2,084.9
|
)
|
|
(964.2
|
)
|
||
Total stockholders’ (deficit) equity
|
(256.0
|
)
|
|
733.6
|
|
||
Total liabilities and stockholders' (deficit) equity
|
$
|
4,113.6
|
|
|
$
|
4,798.1
|
|
|
Fiscal year ended January 31,
|
||||||||||
|
2018
|
|
2017
|
|
2016
|
||||||
Operating Activities
|
|
|
|
|
|
||||||
Net loss
|
$
|
(566.9
|
)
|
|
$
|
(582.1
|
)
|
|
$
|
(330.5
|
)
|
Adjustments to reconcile net loss to net cash provided by operating activities:
|
|
|
|
|
|
||||||
Depreciation, amortization, and accretion
|
108.4
|
|
|
139.2
|
|
|
145.8
|
|
|||
Stock-based compensation expense
|
261.4
|
|
|
221.8
|
|
|
197.2
|
|
|||
Deferred income taxes
|
(39.1
|
)
|
|
(38.8
|
)
|
|
235.9
|
|
|||
Restructuring charges and other facility exit costs, net
|
94.1
|
|
|
80.5
|
|
|
—
|
|
|||
Other operating activities
|
7.3
|
|
|
(7.7
|
)
|
|
(25.0
|
)
|
|||
Changes in operating assets and liabilities, net of business combinations:
|
|
|
|
|
|
||||||
Accounts receivable
|
13.3
|
|
|
201.5
|
|
|
(195.5
|
)
|
|||
Prepaid expenses and other current assets
|
(9.9
|
)
|
|
(13.5
|
)
|
|
(2.8
|
)
|
|||
Accounts payable and accrued liabilities
|
(13.9
|
)
|
|
2.7
|
|
|
24.9
|
|
|||
Deferred revenue
|
168.3
|
|
|
267.0
|
|
|
360.5
|
|
|||
Accrued income taxes
|
(22.1
|
)
|
|
(100.9
|
)
|
|
3.5
|
|
|||
Net cash provided by operating activities
|
0.9
|
|
|
169.7
|
|
|
414.0
|
|
|||
Investing Activities
|
|
|
|
|
|
||||||
Purchases of marketable securities
|
(514.0
|
)
|
|
(1,867.9
|
)
|
|
(2,250.1
|
)
|
|||
Sales of marketable securities
|
489.0
|
|
|
1,257.7
|
|
|
329.4
|
|
|||
Maturities of marketable securities
|
594.3
|
|
|
1,057.2
|
|
|
1,376.6
|
|
|||
Acquisitions, net of cash acquired
|
—
|
|
|
(85.2
|
)
|
|
(148.5
|
)
|
|||
Capital expenditures
|
(50.7
|
)
|
|
(76.0
|
)
|
|
(72.4
|
)
|
|||
Other investing activities
|
(12.2
|
)
|
|
(13.8
|
)
|
|
(44.5
|
)
|
|||
Net cash provided by (used in) investing activities
|
506.4
|
|
|
272.0
|
|
|
(809.5
|
)
|
|||
Financing Activities
|
|
|
|
|
|
||||||
Proceeds from issuance of common stock
|
94.4
|
|
|
119.6
|
|
|
110.8
|
|
|||
Taxes paid related to net share settlement of equity awards
|
(143.1
|
)
|
|
(76.2
|
)
|
|
(51.6
|
)
|
|||
Repurchase and retirement of common shares
|
(699.0
|
)
|
|
(621.7
|
)
|
|
(458.0
|
)
|
|||
Proceeds from debt, net of discount
|
496.9
|
|
|
—
|
|
|
748.3
|
|
|||
Repayments of debt
|
(400.0
|
)
|
|
—
|
|
|
—
|
|
|||
Other financing activities
|
(5.8
|
)
|
|
—
|
|
|
(6.3
|
)
|
|||
Net cash (used in) provided by financing activities
|
(656.6
|
)
|
|
(578.3
|
)
|
|
343.2
|
|
|||
Effect of exchange rate changes on cash and cash equivalents
|
14.2
|
|
|
(3.3
|
)
|
|
(5.3
|
)
|
|||
Net decrease in cash and cash equivalents
|
(135.1
|
)
|
|
(139.9
|
)
|
|
(57.6
|
)
|
|||
Cash and cash equivalents at beginning of fiscal year
|
1,213.1
|
|
|
1,353.0
|
|
|
1,410.6
|
|
|||
Cash and cash equivalents at end of fiscal year
|
$
|
1,078.0
|
|
|
$
|
1,213.1
|
|
|
$
|
1,353.0
|
|
Supplemental cash flow information:
|
|
|
|
|
|
||||||
Cash paid during the year for interest
|
$
|
54.6
|
|
|
$
|
47.6
|
|
|
$
|
34.7
|
|
Net cash paid during the year for income taxes
|
$
|
84.5
|
|
|
$
|
77.7
|
|
|
$
|
59.1
|
|
|
Common stock and additional paid-in capital
|
|
Accumulated other comprehensive loss
|
|
Retained earnings (Accumulated deficit)
|
|
Total stockholders' (deficit) equity
|
|||||||||||
Shares
|
|
Amount
|
|
|||||||||||||||
Balances, January 31, 2015
|
227.0
|
|
|
$
|
1,773.1
|
|
|
$
|
(53.3
|
)
|
|
$
|
499.4
|
|
|
$
|
2,219.2
|
|
Common shares issued under stock plans
|
5.9
|
|
|
59.2
|
|
|
—
|
|
|
—
|
|
|
59.2
|
|
||||
Stock-based compensation expense
|
—
|
|
|
197.2
|
|
|
—
|
|
|
—
|
|
|
197.2
|
|
||||
Tax benefits from employee stock plans
|
—
|
|
|
0.3
|
|
|
—
|
|
|
—
|
|
|
0.3
|
|
||||
Net loss
|
—
|
|
|
—
|
|
|
—
|
|
|
(330.5
|
)
|
|
(330.5
|
)
|
||||
Other comprehensive (loss)
|
—
|
|
|
—
|
|
|
(67.8
|
)
|
|
—
|
|
|
(67.8
|
)
|
||||
Repurchase and retirement of common shares
|
(8.5
|
)
|
|
(208.3
|
)
|
|
—
|
|
|
(249.7
|
)
|
|
(458.0
|
)
|
||||
Balances, January 31, 2016
|
224.4
|
|
|
1,821.5
|
|
|
(121.1
|
)
|
|
(80.8
|
)
|
|
1,619.6
|
|
||||
Common shares issued under stock plans
|
5.6
|
|
|
43.4
|
|
|
—
|
|
|
—
|
|
|
43.4
|
|
||||
Stock-based compensation expense
|
—
|
|
|
221.8
|
|
|
—
|
|
|
—
|
|
|
221.8
|
|
||||
Cumulative effect of accounting changes
|
—
|
|
|
6.9
|
|
|
—
|
|
|
113.0
|
|
|
119.9
|
|
||||
Net loss
|
—
|
|
|
—
|
|
|
—
|
|
|
(582.1
|
)
|
|
(582.1
|
)
|
||||
Other comprehensive (loss)
|
—
|
|
|
—
|
|
|
(57.4
|
)
|
|
—
|
|
|
(57.4
|
)
|
||||
Repurchase and retirement of common shares
|
(9.7
|
)
|
|
(217.3
|
)
|
|
—
|
|
|
(414.3
|
)
|
|
(631.6
|
)
|
||||
Balances, January 31, 2017
|
220.3
|
|
|
1,876.3
|
|
|
(178.5
|
)
|
|
(964.2
|
)
|
|
733.6
|
|
||||
Common shares issued under stock plans
|
4.9
|
|
|
(48.7
|
)
|
|
—
|
|
|
—
|
|
|
(48.7
|
)
|
||||
Stock-based compensation expense
|
—
|
|
|
261.4
|
|
|
—
|
|
|
—
|
|
|
261.4
|
|
||||
Net loss
|
—
|
|
|
—
|
|
|
—
|
|
|
(566.9
|
)
|
|
(566.9
|
)
|
||||
Other comprehensive income
|
—
|
|
|
—
|
|
|
54.7
|
|
|
—
|
|
|
54.7
|
|
||||
Repurchase and retirement of common shares
|
(6.9
|
)
|
|
(136.3
|
)
|
|
—
|
|
|
(553.8
|
)
|
|
(690.1
|
)
|
||||
Balances, January 31, 2018
|
218.3
|
|
|
$
|
1,952.7
|
|
|
$
|
(123.8
|
)
|
|
$
|
(2,084.9
|
)
|
|
$
|
(256.0
|
)
|
|
2018
|
|
2017
|
||||
Trade accounts receivable
|
$
|
469.2
|
|
|
$
|
477.5
|
|
Less: Allowance for doubtful accounts
|
(2.3
|
)
|
|
(1.5
|
)
|
||
Product returns reserve
|
(0.2
|
)
|
|
(0.2
|
)
|
||
Partner programs and other obligations
|
(28.5
|
)
|
|
(23.5
|
)
|
||
Accounts receivable, net
|
$
|
438.2
|
|
|
$
|
452.3
|
|
|
2018
|
|
2017
|
||||
Computer hardware, at cost
|
$
|
217.1
|
|
|
$
|
206.1
|
|
Computer software, at cost
|
72.6
|
|
|
73.5
|
|
||
Leasehold improvements, land and buildings, at cost
|
228.9
|
|
|
206.3
|
|
||
Furniture and equipment, at cost
|
63.4
|
|
|
58.2
|
|
||
Computer software, hardware, leasehold improvements, furniture, and equipment, at cost
|
582.0
|
|
|
544.1
|
|
||
Less: Accumulated depreciation
|
(437.0
|
)
|
|
(385.5
|
)
|
||
Computer software, hardware, leasehold improvements, furniture, and equipment, net
|
$
|
145.0
|
|
|
$
|
158.6
|
|
|
2018
|
|
2017
|
||||
Developed technologies, at cost
|
$
|
578.5
|
|
|
$
|
583.6
|
|
Customer relationships, trade names, patents, and user lists, at cost (1)
|
372.5
|
|
|
375.9
|
|
||
Other intangible assets, at cost (2)
|
951.0
|
|
|
959.5
|
|
||
Less: Accumulated amortization
|
(895.8
|
)
|
|
(862.0
|
)
|
||
Other intangible assets, net
|
$
|
55.2
|
|
|
$
|
97.5
|
|
(1)
|
Included in “Other assets” in the accompanying Consolidated Balance Sheets.
|
(2)
|
Includes the effects of foreign currency translation.
|
|
January 31, 2018
|
|
January 31, 2017
|
||||
Goodwill, beginning of the year
|
$
|
1,710.3
|
|
|
$
|
1,684.2
|
|
Less: accumulated impairment losses, beginning of the year
|
(149.2
|
)
|
|
(149.2
|
)
|
||
Additions arising from acquisitions during the year
|
—
|
|
|
62.8
|
|
||
Effect of foreign currency translation, measurement period adjustments, and other (1)
|
59.1
|
|
|
(36.7
|
)
|
||
Goodwill, end of the year
|
$
|
1,620.2
|
|
|
$
|
1,561.1
|
|
(1)
|
Purchase accounting adjustments reflect revisions made to the Company’s preliminary purchase price allocations during fiscal
2018
and
2017
.
|
|
Fiscal Year Ended January 31,
|
||||||||||
|
2018
|
|
2017
|
|
2016
|
||||||
Cost of maintenance and subscription revenue
|
$
|
11.9
|
|
|
$
|
8.6
|
|
|
$
|
5.8
|
|
Cost of license and other revenue
|
4.0
|
|
|
5.5
|
|
|
6.0
|
|
|||
Marketing and sales
|
107.3
|
|
|
94.1
|
|
|
85.2
|
|
|||
Research and development
|
82.9
|
|
|
81.3
|
|
|
70.4
|
|
|||
General and administrative
|
55.3
|
|
|
32.3
|
|
|
29.8
|
|
|||
Stock-based compensation expense related to stock awards and Employee Qualified Stock Purchase Plan ("ESPP") purchases
|
261.4
|
|
|
221.8
|
|
|
197.2
|
|
|||
Tax benefit
|
(2.6
|
)
|
|
(2.6
|
)
|
|
(1.6
|
)
|
|||
Stock-based compensation expense related to stock awards and ESPP purchases, net
|
$
|
258.8
|
|
|
$
|
219.2
|
|
|
$
|
195.6
|
|
|
|
Fiscal Year Ended
|
|
Fiscal Year Ended
|
|
Fiscal Year Ended
|
||||||
|
|
January 31, 2018
|
|
January 31, 2017
|
|
January 31, 2016
|
||||||
|
|
Performance Stock Unit
|
|
ESPP
|
|
Performance Stock Unit
|
|
ESPP
|
|
Performance Stock Unit
|
|
ESPP
|
Range of expected volatilities
|
|
32%
|
|
31% - 34%
|
|
38 - 39%
|
|
30 - 40%
|
|
27%
|
|
28 -29%
|
Range of expected lives (in years)
|
|
N/A
|
|
0.5 - 2.0
|
|
N/A
|
|
0.5 - 2.0
|
|
N/A
|
|
0.5 - 2.0
|
Expected dividends
|
|
—%
|
|
—%
|
|
—%
|
|
—%
|
|
—%
|
|
—%
|
Range of risk-free interest rates
|
|
1.0% - 1.2%
|
|
0.9% - 1.4%
|
|
0.6 - 0.7%
|
|
0.5 - 0.9%
|
|
0.2%
|
|
0.1 - 0.7%
|
|
|
|
January 31, 2018
|
||||||||||||||||||||||||||
|
|
|
Amortized Cost
|
|
Gross Unrealized Gains
|
|
Gross Unrealized Losses
|
|
Fair Value
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
||||||||||||||
Cash equivalents (1):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
|
Agency bonds
|
$
|
5.0
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
5.0
|
|
|
$
|
5.0
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
|
Certificates of deposit
|
17.4
|
|
|
—
|
|
|
—
|
|
|
17.4
|
|
|
17.4
|
|
|
—
|
|
|
—
|
|
||||||||
|
Commercial paper
|
324.2
|
|
|
—
|
|
|
—
|
|
|
324.2
|
|
|
—
|
|
|
324.2
|
|
|
—
|
|
||||||||
|
Corporate debt securities
|
5.0
|
|
|
—
|
|
|
—
|
|
|
5.0
|
|
|
5.0
|
|
|
—
|
|
|
—
|
|
||||||||
|
Custody cash deposit
|
5.2
|
|
|
—
|
|
|
—
|
|
|
5.2
|
|
|
5.2
|
|
|
—
|
|
|
—
|
|
||||||||
|
Money market funds
|
278.8
|
|
|
—
|
|
|
—
|
|
|
278.8
|
|
|
—
|
|
|
278.8
|
|
|
—
|
|
||||||||
|
Municipal bonds
|
5.0
|
|
|
—
|
|
|
—
|
|
|
5.0
|
|
|
5.0
|
|
|
—
|
|
|
—
|
|
||||||||
|
Sovereign debt
|
2.0
|
|
|
—
|
|
|
—
|
|
|
2.0
|
|
|
—
|
|
|
2.0
|
|
|
—
|
|
||||||||
Marketable securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
|
Short-term available-for-sale
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
|
|
Asset backed securities
|
13.1
|
|
|
—
|
|
|
—
|
|
|
13.1
|
|
|
—
|
|
|
13.1
|
|
|
—
|
|
|||||||
|
|
Commercial paper
|
27.5
|
|
|
—
|
|
|
—
|
|
|
27.5
|
|
|
—
|
|
|
27.5
|
|
|
—
|
|
|||||||
|
|
Corporate debt securities
|
99.4
|
|
|
—
|
|
|
(0.1
|
)
|
|
99.3
|
|
|
99.3
|
|
|
—
|
|
|
—
|
|
|||||||
|
|
Other (2)
|
9.2
|
|
|
—
|
|
|
—
|
|
|
9.2
|
|
|
7.7
|
|
|
1.5
|
|
|
—
|
|
|||||||
|
|
U.S. government securities
|
37.1
|
|
|
—
|
|
|
—
|
|
|
37.1
|
|
|
37.1
|
|
|
—
|
|
|
—
|
|
|||||||
|
Short-term trading securities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
|
|
Mutual funds
|
50.1
|
|
|
8.9
|
|
|
—
|
|
|
59.0
|
|
|
59.0
|
|
|
—
|
|
|
—
|
|
|||||||
|
Long-term available-for-sale
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
|
|
Agency bonds
|
13.7
|
|
|
—
|
|
|
(0.1
|
)
|
|
13.6
|
|
|
13.6
|
|
|
—
|
|
|
—
|
|
|||||||
|
|
Asset backed securities
|
36.8
|
|
|
—
|
|
|
(0.2
|
)
|
|
36.6
|
|
|
—
|
|
|
36.6
|
|
|
—
|
|
|||||||
|
|
Corporate debt securities
|
100.2
|
|
|
0.1
|
|
|
(0.4
|
)
|
|
99.9
|
|
|
99.9
|
|
|
—
|
|
|
—
|
|
|||||||
|
|
Municipal bonds
|
12.7
|
|
|
—
|
|
|
(0.1
|
)
|
|
12.6
|
|
|
12.6
|
|
|
—
|
|
|
—
|
|
|||||||
|
|
Sovereign debt
|
2.8
|
|
|
—
|
|
|
—
|
|
|
2.8
|
|
|
—
|
|
|
2.8
|
|
|
—
|
|
|||||||
|
|
U.S. government securities
|
25.5
|
|
|
—
|
|
|
(0.2
|
)
|
|
25.3
|
|
|
25.3
|
|
|
—
|
|
|
—
|
|
|||||||
Convertible debt securities (3)
|
7.5
|
|
|
0.5
|
|
|
(0.2
|
)
|
|
7.8
|
|
|
—
|
|
|
—
|
|
|
7.8
|
|
|||||||||
Derivative contract assets (4)
|
2.0
|
|
|
7.5
|
|
|
(1.3
|
)
|
|
8.2
|
|
|
—
|
|
|
7.2
|
|
|
1.0
|
|
|||||||||
Derivative contract liabilities (5)
|
—
|
|
|
—
|
|
|
(26.6
|
)
|
|
(26.6
|
)
|
|
—
|
|
|
(26.6
|
)
|
|
—
|
|
|||||||||
|
|
Total
|
$
|
1,080.2
|
|
|
$
|
17.0
|
|
|
$
|
(29.2
|
)
|
|
$
|
1,068.0
|
|
|
$
|
392.1
|
|
|
$
|
667.1
|
|
|
$
|
8.8
|
|
(1)
|
Included in “Cash and cash equivalents” in the accompanying Consolidated Balance Sheets.
|
(2)
|
Consists of agency bonds, certificates of deposit, sovereign debt, and municipal bonds.
|
(3)
|
Considered “available for sale” and included in “Other assets” in the accompanying Consolidated Balance Sheets.
|
(4)
|
Included in “Prepaid expenses and other current assets,” “Other assets,” or “Other accrued liabilities” in the accompanying Consolidated Balance Sheets.
|
(5)
|
Included in “Other accrued liabilities” in the accompanying Consolidated Balance Sheets.
|
|
|
|
January 31, 2017
|
||||||||||||||||||||||||||
|
|
|
Amortized Cost
|
|
Gross Unrealized Gains
|
|
Gross Unrealized Losses
|
|
Fair Value
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
||||||||||||||
Cash equivalents (1):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
|
Agency bonds
|
$
|
6.0
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
6.0
|
|
|
$
|
6.0
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
|
Certificates of deposit
|
63.1
|
|
|
—
|
|
|
—
|
|
|
63.1
|
|
|
63.1
|
|
|
—
|
|
|
—
|
|
||||||||
|
Commercial paper
|
207.4
|
|
|
—
|
|
|
—
|
|
|
207.4
|
|
|
—
|
|
|
207.4
|
|
|
—
|
|
||||||||
|
Corporate debt securities
|
40.2
|
|
|
—
|
|
|
—
|
|
|
40.2
|
|
|
40.2
|
|
|
—
|
|
|
—
|
|
||||||||
|
Custody cash deposit
|
3.2
|
|
|
—
|
|
|
—
|
|
|
3.2
|
|
|
3.2
|
|
|
—
|
|
|
—
|
|
||||||||
|
Money market funds
|
256.5
|
|
|
—
|
|
|
—
|
|
|
256.5
|
|
|
—
|
|
|
256.5
|
|
|
—
|
|
||||||||
|
Municipal bonds
|
5.0
|
|
|
—
|
|
|
—
|
|
|
5.0
|
|
|
5.0
|
|
|
—
|
|
|
—
|
|
||||||||
|
Sovereign debt
|
15.0
|
|
|
—
|
|
|
—
|
|
|
15.0
|
|
|
—
|
|
|
15.0
|
|
|
—
|
|
||||||||
|
U.S. government securities
|
309.5
|
|
|
—
|
|
|
—
|
|
|
309.5
|
|
|
309.5
|
|
|
—
|
|
|
—
|
|
||||||||
Marketable securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
|
Short-term available-for-sale
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
|
|
Agency bonds
|
13.2
|
|
|
—
|
|
|
|
|
13.2
|
|
|
13.2
|
|
|
—
|
|
|
—
|
|
||||||||
|
|
Asset backed securities
|
19.6
|
|
|
—
|
|
|
—
|
|
|
19.6
|
|
|
—
|
|
|
19.6
|
|
|
—
|
|
|||||||
|
|
Certificates of deposit
|
157.3
|
|
|
—
|
|
|
—
|
|
|
157.3
|
|
|
157.3
|
|
|
—
|
|
|
—
|
|
|||||||
|
|
Commercial paper
|
109.2
|
|
|
—
|
|
|
—
|
|
|
109.2
|
|
|
—
|
|
|
109.2
|
|
|
—
|
|
|||||||
|
|
Corporate debt securities
|
234.7
|
|
|
—
|
|
|
(0.2
|
)
|
|
234.5
|
|
|
234.5
|
|
|
—
|
|
|
—
|
|
|||||||
|
|
Municipal bonds
|
43.4
|
|
|
—
|
|
|
—
|
|
|
43.4
|
|
|
43.4
|
|
|
—
|
|
|
—
|
|
|||||||
|
|
Sovereign debt
|
30.0
|
|
|
—
|
|
|
—
|
|
|
30.0
|
|
|
—
|
|
|
30.0
|
|
|
—
|
|
|||||||
|
|
U.S. government securities
|
32.3
|
|
|
—
|
|
|
—
|
|
|
32.3
|
|
|
32.3
|
|
|
—
|
|
|
—
|
|
|||||||
|
Short-term trading securities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
|
|
Mutual funds
|
44.8
|
|
|
2.5
|
|
|
—
|
|
|
47.3
|
|
|
47.3
|
|
|
—
|
|
|
—
|
|
|||||||
|
Long-term available-for-sale
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
|
|
Agency bonds
|
7.1
|
|
|
—
|
|
|
—
|
|
|
7.1
|
|
|
7.1
|
|
|
—
|
|
|
—
|
|
|||||||
|
|
Asset backed securities
|
65.8
|
|
|
0.1
|
|
|
—
|
|
|
65.9
|
|
|
—
|
|
|
65.9
|
|
|
—
|
|
|||||||
|
|
Corporate debt securities
|
172.1
|
|
|
0.1
|
|
|
(0.1
|
)
|
|
172.1
|
|
|
172.1
|
|
|
—
|
|
|
—
|
|
|||||||
|
|
Municipal bonds
|
10.7
|
|
|
—
|
|
|
—
|
|
|
10.7
|
|
|
10.7
|
|
|
—
|
|
|
—
|
|
|||||||
|
|
Sovereign debt
|
1.5
|
|
|
—
|
|
|
—
|
|
|
1.5
|
|
|
—
|
|
|
1.5
|
|
|
—
|
|
|||||||
|
|
U.S. government securities
|
48.8
|
|
|
0.1
|
|
|
—
|
|
|
48.9
|
|
|
48.9
|
|
|
—
|
|
|
—
|
|
|||||||
Convertible debt securities (2)
|
4.9
|
|
|
2.3
|
|
|
(1.6
|
)
|
|
5.6
|
|
|
—
|
|
|
—
|
|
|
5.6
|
|
|||||||||
Derivative contract assets (3)
|
2.2
|
|
|
12.3
|
|
|
(1.3
|
)
|
|
13.2
|
|
|
—
|
|
|
11.9
|
|
|
1.3
|
|
|||||||||
Derivative contract liabilities (4)
|
—
|
|
|
—
|
|
|
(10.4
|
)
|
|
(10.4
|
)
|
|
—
|
|
|
(10.4
|
)
|
|
—
|
|
|||||||||
|
|
Total
|
$
|
1,903.5
|
|
|
$
|
17.4
|
|
|
$
|
(13.6
|
)
|
|
$
|
1,907.3
|
|
|
$
|
1,193.8
|
|
|
$
|
706.6
|
|
|
$
|
6.9
|
|
(1)
|
Included in “Cash and cash equivalents” in the accompanying Consolidated Balance Sheets.
|
(2)
|
Considered "available for sale" securities and included in "Other assets" in the accompanying Consolidated Balance Sheets.
|
(3)
|
Included in “Prepaid expenses and other current assets,” "Other assets," or “Other accrued liabilities” in the accompanying Consolidated Balance Sheets.
|
(4)
|
Included in “Other accrued liabilities” in the accompanying Consolidated Balance Sheets.
|
|
Fair Value Measurements Using
Significant Unobservable Inputs
|
|||||||||||
|
(Level 3)
|
|||||||||||
|
|
Derivative Contracts
|
|
Convertible Debt Securities
|
|
Total
|
||||||
Balances, January 31, 2017
|
|
$
|
1.3
|
|
|
$
|
5.6
|
|
|
$
|
6.9
|
|
Purchases
|
|
1.1
|
|
|
5.9
|
|
|
7.0
|
|
|||
Gains (losses) included in earnings (1)
|
|
(1.4
|
)
|
|
(3.2
|
)
|
|
(4.6
|
)
|
|||
Gains included in OCI
|
|
—
|
|
|
(0.5
|
)
|
|
(0.5
|
)
|
|||
Balances, January 31, 2018
|
|
$
|
1.0
|
|
|
$
|
7.8
|
|
|
$
|
8.8
|
|
(1)
|
Included in “
Interest and other expense, net
” in the accompanying Consolidated Statement of Operations.
|
|
January 31, 2018
|
||||||
|
Cost
|
|
Fair Value
|
||||
Due within in 1 year
|
$
|
193.8
|
|
|
$
|
194.0
|
|
Due in 1 year through 5 years
|
186.9
|
|
|
186.0
|
|
||
Due in 5 years through 10 years
|
3.7
|
|
|
3.7
|
|
||
Due after 10 years
|
1.1
|
|
|
1.1
|
|
||
Total
|
$
|
385.5
|
|
|
$
|
384.8
|
|
|
Balance Sheet Location
|
|
Fair Value at
|
||||||
|
January 31, 2018
|
|
January 31, 2017
|
||||||
Derivative Assets
|
|
|
|
|
|
||||
Foreign currency contracts designated as cash flow hedges
|
Prepaid expenses and other current assets
|
|
$
|
6.2
|
|
|
$
|
10.1
|
|
Derivatives not designated as hedging instruments
|
Prepaid expenses and other current assets and Other assets
|
|
2.0
|
|
|
3.2
|
|
||
Total derivative assets
|
|
|
$
|
8.2
|
|
|
$
|
13.3
|
|
Derivative Liabilities
|
|
|
|
|
|
||||
Foreign currency contracts designated as cash flow hedges
|
Other accrued liabilities
|
|
$
|
18.7
|
|
|
$
|
4.5
|
|
Derivatives not designated as hedging instruments
|
Other accrued liabilities
|
|
7.9
|
|
|
6.0
|
|
||
Total derivative liabilities
|
|
|
$
|
26.6
|
|
|
$
|
10.5
|
|
|
Foreign Currency Contracts
|
||||||||||
|
Fiscal Year Ended January 31,
|
||||||||||
|
2018
|
|
2017
|
|
2016
|
||||||
Amount of (loss) gain recognized in accumulated other comprehensive loss on derivatives (effective portion)
|
$
|
(21.3
|
)
|
|
$
|
6.3
|
|
|
$
|
2.2
|
|
Amount and location of gain (loss) reclassified from accumulated other comprehensive loss into (loss) income (effective portion)
|
|
|
|
|
|
||||||
Net revenue
|
$
|
8.0
|
|
|
$
|
9.2
|
|
|
$
|
39.8
|
|
Operating expenses
|
1.9
|
|
|
(1.8
|
)
|
|
(10.5
|
)
|
|||
Total
|
$
|
9.9
|
|
|
$
|
7.4
|
|
|
$
|
29.3
|
|
Amount and location of loss recognized in (loss) income on derivatives (ineffective portion and amount excluded from effectiveness testing)
|
|
|
|
|
|
||||||
Interest and other expense, net
|
$
|
(0.2
|
)
|
|
$
|
(0.3
|
)
|
|
$
|
(0.7
|
)
|
|
Fiscal Year Ended January 31,
|
||||||||||
|
2018
|
|
2017
|
|
2016
|
||||||
Amount and location of loss recognized in loss (income) on derivatives
|
|
|
|
|
|
||||||
Interest and other expense, net
|
$
|
(19.1
|
)
|
|
$
|
(11.1
|
)
|
|
$
|
(1.7
|
)
|
|
Number of Shares (in millions)
|
|
Weighted average exercise price per share
|
|
Weighted average remaining contractual term (in years)
|
|
Aggregate Intrinsic Value (1) (in millions)
|
|||||
Options outstanding at January 31, 2017
|
0.6
|
|
|
$
|
39.25
|
|
|
|
|
|
||
Exercised
|
(0.4
|
)
|
|
38.66
|
|
|
|
|
|
|||
Options vested, exercisable and outstanding at January 31, 2018
|
0.2
|
|
|
$
|
40.49
|
|
|
2.87
|
|
$
|
16.4
|
|
Shares available for grant at January 31, 2018
|
22.2
|
|
|
|
|
|
|
|
(1)
|
Represents the total pre-tax intrinsic value, based on Autodesk’s closing stock price of
$115.62
per share as of
January 31, 2018
, which would have been received by the option holders had all option holders exercised their options as of that date.
|
|
Fiscal year ended January 31,
|
||||||||||
|
2018
|
|
2017
|
|
2016
|
||||||
Pre-tax intrinsic value of options exercised (1)
|
$
|
22.8
|
|
|
$
|
32.0
|
|
|
$
|
32.6
|
|
(1)
|
The intrinsic value of options exercised is calculated as the difference between the exercise price of the option and the market value of the stock on the date of exercise.
|
|
Number of Shares (in thousands)
|
|
Weighted average exercise price per share
|
|||
Range of per-share exercise prices:
|
|
|
|
|||
$28.56 - $36.44
|
32.6
|
|
|
$
|
34.23
|
|
$38.55 - $38.55
|
1.8
|
|
|
38.55
|
|
|
$41.62 - $41.62
|
184.4
|
|
|
41.62
|
|
|
|
218.8
|
|
|
$
|
40.49
|
|
|
Unreleased Restricted Stock Units (in thousands)
|
|
Weighted average grant date fair value per share
|
|||
Unvested restricted stock at January 31, 2017
|
7,622.4
|
|
|
$
|
60.13
|
|
Granted
|
2,481.8
|
|
|
106.55
|
|
|
Vested
|
(3,765.7
|
)
|
|
57.85
|
|
|
Canceled/Forfeited
|
(692.5
|
)
|
|
69.08
|
|
|
Performance Adjustment (1)
|
24.7
|
|
|
61.79
|
|
|
Unvested restricted stock at January 31, 2018
|
5,670.7
|
|
|
$
|
82.94
|
|
(1)
|
Based on Autodesk's financial results and relative total stockholder return for the fiscal 2017 performance period. The performance stock units were attained at rates ranging from
99.7%
to
114.7%
of the target award.
|
•
|
Up to one third of the performance stock units may vest following year one, depending upon the achievement of the performance criteria for fiscal 2018 as well as 1-year Relative TSR (covering year one).
|
•
|
Up to one third of the performance stock units may vest following year two, depending upon the achievement of the performance criteria for year two as well as 2-year Relative TSR (covering years one and two).
|
•
|
Up to one third of the performance stock units may vest following year three, depending upon the achievement of the performance criteria for year three as well as 3-year Relative TSR (covering years one, two and three).
|
|
|
Fiscal Year Ended January 31,
|
||||||||||
|
|
2018
|
|
2017
|
|
2016
|
||||||
Issued shares
|
|
2.0
|
|
|
2.3
|
|
|
2.1
|
|
|||
Average price of issued shares
|
|
$
|
39.03
|
|
|
$
|
36.99
|
|
|
$
|
36.29
|
|
Weighted average grant date fair value of awards granted under the ESPP
|
|
$
|
32.41
|
|
|
$
|
19.20
|
|
|
$
|
11.85
|
|
|
(a)
|
|
(b)
|
|
(c)
|
|
||||
Plan category
|
Number of securities to be issued upon exercise of outstanding options (in millions)
|
|
Weighted-average exercise price of outstanding options
|
|
Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a)) (in millions)
|
|
||||
Equity compensation plans approved by security holders
|
5.9
|
|
|
$
|
40.49
|
|
|
31.3
|
|
(1)
|
Total
|
5.9
|
|
|
$
|
40.49
|
|
|
31.3
|
|
|
(1)
|
Included in this amount are
9.1 million
securities available for future issuance under Autodesk’s ESPP.
|
|
Fiscal year ended January 31,
|
||||||||||
2018
|
|
2017
|
|
2016
|
|||||||
Income tax provision (benefit) at U.S. Federal statutory rate
|
$
|
(188.4
|
)
|
|
$
|
(177.0
|
)
|
|
$
|
(7.1
|
)
|
State income tax benefit, net of the U.S. Federal benefit
|
(21.9
|
)
|
|
(17.3
|
)
|
|
(7.6
|
)
|
|||
Foreign income taxed at rates different from the U.S. statutory rate
|
(53.3
|
)
|
|
22.3
|
|
|
(29.4
|
)
|
|||
U.S. valuation allowance
|
(82.5
|
)
|
|
233.0
|
|
|
345.0
|
|
|||
Transition tax
|
408.4
|
|
|
—
|
|
|
—
|
|
|||
Increase in attributes due to ASU 2016-9 adoption
|
|
|
|
(119.4
|
)
|
|
—
|
|
|||
Change in valuation allowance from ASU 2016-9 adoption
|
—
|
|
|
119.4
|
|
|
—
|
|
|||
Tax effect of non-deductible stock-based compensation
|
20.7
|
|
|
18.8
|
|
|
19.3
|
|
|||
Stock compensation windfall / shortfall
|
(67.7
|
)
|
|
(23.0
|
)
|
|
—
|
|
|||
Research and development tax credit benefit
|
(11.3
|
)
|
|
(10.3
|
)
|
|
(9.4
|
)
|
|||
Closure of income tax audits and changes in uncertain tax positions
|
1.2
|
|
|
8.2
|
|
|
(4.7
|
)
|
|||
Tax effect of officer compensation in excess of $1.0 million
|
2.2
|
|
|
2.2
|
|
|
1.4
|
|
|||
Non-deductible expenses
|
2.1
|
|
|
2.0
|
|
|
2.6
|
|
|||
Other
|
0.1
|
|
|
(0.6
|
)
|
|
0.1
|
|
|||
|
$
|
9.6
|
|
|
$
|
58.3
|
|
|
$
|
310.2
|
|
|
January 31,
|
||||||
2018
|
|
2017
|
|||||
Stock-based compensation
|
$
|
26.7
|
|
|
$
|
37.6
|
|
Research and development tax credit carryforwards
|
170.3
|
|
|
136.7
|
|
||
Foreign tax credit carryforwards
|
162.2
|
|
|
127.3
|
|
||
Accrued compensation and benefits
|
25.9
|
|
|
39.5
|
|
||
Other accruals not currently deductible for tax
|
22.9
|
|
|
18.7
|
|
||
Purchased technology and capitalized software
|
43.4
|
|
|
76.9
|
|
||
Fixed assets
|
16.5
|
|
|
24.3
|
|
||
Tax loss carryforwards
|
85.7
|
|
|
173.6
|
|
||
Deferred revenue
|
120.3
|
|
|
128.3
|
|
||
Other
|
32.4
|
|
|
27.6
|
|
||
Total deferred tax assets
|
706.3
|
|
|
790.5
|
|
||
Less: valuation allowance
|
(634.2
|
)
|
|
(748.0
|
)
|
||
Net deferred tax assets
|
72.1
|
|
|
42.5
|
|
||
Indefinite lived intangibles
|
(57.0
|
)
|
|
(70.1
|
)
|
||
Total deferred tax liabilities
|
(57.0
|
)
|
|
(70.1
|
)
|
||
Net deferred tax assets
|
$
|
15.1
|
|
|
$
|
(27.6
|
)
|
|
Fiscal Year Ended January 31,
|
||||||||||
|
2018
|
|
2017
|
|
2016
|
||||||
Gross unrecognized tax benefits at the beginning of the fiscal year
|
$
|
261.4
|
|
|
$
|
254.3
|
|
|
$
|
245.8
|
|
Increases for tax positions of prior years
|
22.8
|
|
|
11.9
|
|
|
1.4
|
|
|||
Decreases for tax positions of prior years
|
(22.5
|
)
|
|
(4.1
|
)
|
|
(7.0
|
)
|
|||
Increases for tax positions related to the current year
|
78.4
|
|
|
11.1
|
|
|
15.8
|
|
|||
Decreases relating to settlements with taxing authorities
|
(0.8
|
)
|
|
(10.8
|
)
|
|
(0.5
|
)
|
|||
Reductions as a result of lapse of the statute of limitations
|
(1.7
|
)
|
|
(1.0
|
)
|
|
(1.2
|
)
|
|||
Gross unrecognized tax benefits at the end of the fiscal year
|
$
|
337.6
|
|
|
$
|
261.4
|
|
|
$
|
254.3
|
|
Developed technologies
|
|
$
|
18.8
|
|
Customer relationships
|
|
10.2
|
|
|
Trade name
|
|
3.8
|
|
|
Goodwill
|
|
62.8
|
|
|
Deferred revenue (current and non-current)
|
|
(2.1
|
)
|
|
Deferred tax liability
|
|
(7.1
|
)
|
|
Net tangible (liabilities) assets
|
|
0.6
|
|
|
Total
|
|
$
|
87.0
|
|
|
|
||
2019
|
$
|
62.2
|
|
2020
|
46.3
|
|
|
2021
|
34.1
|
|
|
2022
|
24.7
|
|
|
2023
|
22.8
|
|
|
Thereafter
|
57.7
|
|
|
|
247.8
|
|
|
Less: Sublease income
|
0.8
|
|
|
|
$
|
247.0
|
|
|
Fiscal Year Ended January 31,
|
||||||||||
|
2018
|
|
2017
|
|
2016
|
||||||
Rent expense
|
$
|
55.9
|
|
|
$
|
65.3
|
|
|
$
|
58.7
|
|
|
Fiscal Year Ended January 31,
|
||||||||||
|
2018
|
|
2017
|
|
2016
|
||||||
Interest and investment expense, net
|
$
|
(34.5
|
)
|
|
$
|
(29.7
|
)
|
|
$
|
(33.9
|
)
|
Loss on foreign currency
|
(3.3
|
)
|
|
(3.3
|
)
|
|
—
|
|
|||
(Loss) gain on strategic investments
|
(16.4
|
)
|
|
0.3
|
|
|
3.8
|
|
|||
Other income
|
6.0
|
|
|
8.5
|
|
|
8.5
|
|
|||
Interest and other expense, net
|
$
|
(48.2
|
)
|
|
$
|
(24.2
|
)
|
|
$
|
(21.6
|
)
|
|
Net Unrealized Gains (Losses) on Derivative Instruments
|
|
Net Unrealized Gains (Losses) on Available for Sale Securities
|
|
Defined Benefit Pension Components
|
|
Foreign Currency Translation Adjustments
|
|
Total
|
||||||||||
Balances, January 31, 2016
|
$
|
15.7
|
|
|
$
|
0.2
|
|
|
$
|
(28.3
|
)
|
|
$
|
(108.7
|
)
|
|
$
|
(121.1
|
)
|
Other comprehensive income (loss) before reclassifications
|
7.4
|
|
|
3.3
|
|
|
(5.8
|
)
|
|
(52.3
|
)
|
|
(47.4
|
)
|
|||||
Pre-tax (gains) losses reclassified from accumulated other comprehensive income
|
(7.4
|
)
|
|
(1.5
|
)
|
|
1.2
|
|
|
—
|
|
|
(7.7
|
)
|
|||||
Tax effects
|
(1.1
|
)
|
|
(0.5
|
)
|
|
(0.9
|
)
|
|
0.2
|
|
|
(2.3
|
)
|
|||||
Net current period other comprehensive (loss) income
|
(1.1
|
)
|
|
1.3
|
|
|
(5.5
|
)
|
|
(52.1
|
)
|
|
(57.4
|
)
|
|||||
Balances, January 31, 2017
|
14.6
|
|
|
1.5
|
|
|
(33.8
|
)
|
|
(160.8
|
)
|
|
(178.5
|
)
|
|||||
Other comprehensive (loss) income before reclassifications
|
(24.5
|
)
|
|
(0.6
|
)
|
|
4.3
|
|
|
86.3
|
|
|
65.5
|
|
|||||
Pre-tax (gains) losses reclassified from accumulated other comprehensive income
|
(9.9
|
)
|
|
0.3
|
|
|
0.9
|
|
|
0.1
|
|
|
(8.6
|
)
|
|||||
Tax effects
|
3.2
|
|
|
0.1
|
|
|
(0.7
|
)
|
|
(4.8
|
)
|
|
(2.2
|
)
|
|||||
Net current period other comprehensive (loss) income
|
(31.2
|
)
|
|
(0.2
|
)
|
|
4.5
|
|
|
81.6
|
|
|
54.7
|
|
|||||
Balances, January 31, 2018
|
$
|
(16.6
|
)
|
|
$
|
1.3
|
|
|
$
|
(29.3
|
)
|
|
$
|
(79.2
|
)
|
|
$
|
(123.8
|
)
|
|
Fiscal Year Ended January 31,
|
||||||||||
|
2018
|
|
2017
|
|
2016
|
||||||
Numerator:
|
|
|
|
|
|
||||||
Net loss
|
$
|
(566.9
|
)
|
|
$
|
(582.1
|
)
|
|
$
|
(330.5
|
)
|
Denominator:
|
|
|
|
|
|
||||||
Denominator for basic net loss per share—weighted average shares
|
219.5
|
|
|
222.7
|
|
|
226.0
|
|
|||
Effect of dilutive securities (1)
|
—
|
|
|
—
|
|
|
—
|
|
|||
Denominator for dilutive net loss per share
|
219.5
|
|
|
222.7
|
|
|
226.0
|
|
|||
Basic net loss per share
|
$
|
(2.58
|
)
|
|
$
|
(2.61
|
)
|
|
$
|
(1.46
|
)
|
Diluted net loss per share
|
$
|
(2.58
|
)
|
|
$
|
(2.61
|
)
|
|
$
|
(1.46
|
)
|
(1)
|
The effect of dilutive securities of
4.5 million
,
4.6 million
, and
4.7 million
shares for the fiscal year ended
January 31, 2018
,
2017
, and
2016
, respectively, have been excluded from the calculation of diluted net loss per share as those shares would have been anti-dilutive due to the net loss incurred during those fiscal years.
|
|
Fiscal Year Ended January 31,
|
||||||||||
|
2018
|
|
2017
|
|
2016
|
||||||
Net revenue by geographic area (1):
|
|
|
|
|
|
||||||
Americas
|
|
|
|
|
|
||||||
U.S.
|
$
|
740.4
|
|
|
$
|
742.1
|
|
|
$
|
803.9
|
|
Other Americas
|
130.7
|
|
|
129.8
|
|
|
168.9
|
|
|||
Total Americas
|
871.1
|
|
|
871.9
|
|
|
972.8
|
|
|||
Europe, Middle East, and Africa
|
815.4
|
|
|
800.4
|
|
|
934.6
|
|
|||
Asia Pacific
|
370.1
|
|
|
358.7
|
|
|
596.7
|
|
|||
Total net revenue
|
$
|
2,056.6
|
|
|
$
|
2,031.0
|
|
|
$
|
2,504.1
|
|
|
|
|
|
|
|
||||||
Net revenue by product family:
|
|
|
|
|
|
||||||
Architecture, Engineering and Construction
|
$
|
866.5
|
|
|
$
|
880.9
|
|
|
$
|
949.1
|
|
Manufacturing
|
589.2
|
|
|
625.8
|
|
|
724.6
|
|
|||
AutoCAD and AutoCAD LT
|
401.4
|
|
|
326.7
|
|
|
594.8
|
|
|||
Media and Entertainment
|
152.0
|
|
|
138.9
|
|
|
160.0
|
|
|||
Other
|
47.5
|
|
|
58.7
|
|
|
75.6
|
|
|||
|
$
|
2,056.6
|
|
|
$
|
2,031.0
|
|
|
$
|
2,504.1
|
|
(1)
|
Revenue by geographic area is based on the bill to country.
|
|
January 31,
|
||||||
|
2018
|
|
2017
|
||||
Long-lived assets (1):
|
|
|
|
||||
Americas
|
|
|
|
||||
U.S.
|
$
|
99.3
|
|
|
$
|
118.8
|
|
Other Americas
|
14.6
|
|
|
5.9
|
|
||
Total Americas
|
113.9
|
|
|
124.7
|
|
||
Europe, Middle East, and Africa
|
16.7
|
|
|
18.7
|
|
||
Asia Pacific
|
14.4
|
|
|
15.2
|
|
||
Total long-lived assets
|
$
|
145.0
|
|
|
$
|
158.6
|
|
(1)
|
Long-lived assets exclude deferred tax assets, marketable securities, goodwill, and other intangible assets.
|
|
Fiscal year ended January 31,
|
||||||
|
2018
|
|
2017
|
||||
Beginning projected benefit obligation
|
$
|
146.4
|
|
|
$
|
145.2
|
|
Service cost
|
5.2
|
|
|
5.6
|
|
||
Interest cost
|
2.7
|
|
|
3.0
|
|
||
Actuarial (gain) loss
|
(2.8
|
)
|
|
7.1
|
|
||
Benefits paid
|
(3.3
|
)
|
|
(2.6
|
)
|
||
Foreign currency exchange rate changes
|
13.9
|
|
|
(9.5
|
)
|
||
Curtailments and settlements
|
(8.2
|
)
|
|
(6.8
|
)
|
||
Contributions by plan participants
|
4.0
|
|
|
4.4
|
|
||
Plan amendment
|
0.2
|
|
|
—
|
|
||
Ending projected benefit obligation
|
$
|
158.1
|
|
|
$
|
146.4
|
|
|
|
|
|
||||
Beginning fair value of plan assets
|
$
|
107.4
|
|
|
$
|
101.4
|
|
Actual return on plan assets
|
3.8
|
|
|
4.2
|
|
||
Contributions paid by employer
|
6.5
|
|
|
15.3
|
|
||
Contributions paid by plan participants
|
4.0
|
|
|
4.4
|
|
||
Benefit payments
|
(3.3
|
)
|
|
(2.6
|
)
|
||
Curtailments and settlements
|
(8.0
|
)
|
|
(6.8
|
)
|
||
Foreign currency exchange rate changes
|
10.7
|
|
|
(8.5
|
)
|
||
Ending fair value of plan assets
|
$
|
121.1
|
|
|
$
|
107.4
|
|
Funded status
|
$
|
(37.0
|
)
|
|
$
|
(39.0
|
)
|
|
Fiscal Year Ended January 31,
|
||||||
|
2018
|
|
2017
|
||||
Other long-term liabilities
|
$
|
37.0
|
|
|
$
|
39.0
|
|
Accumulated other comprehensive loss, before tax
|
31.7
|
|
|
37.0
|
|
||
Net amount recognized
|
$
|
68.7
|
|
|
$
|
76.0
|
|
|
|
Fiscal Year Ended January 31,
|
||||||
|
|
2018
|
|
2017
|
||||
Plans with accumulated benefit obligations in excess of plan assets:
|
|
|
|
|
||||
Accumulated benefit obligations
|
|
$
|
130.7
|
|
|
$
|
119.2
|
|
Plan assets
|
|
112.1
|
|
|
98.3
|
|
||
Plans with projected benefit obligations in excess of plan assets:
|
|
|
|
|
||||
Projected benefit obligations
|
|
$
|
158.1
|
|
|
$
|
146.4
|
|
Plan assets
|
|
121.1
|
|
|
107.4
|
|
|
Fiscal Year Ended January 31,
|
||||||||||||||||||
|
2018
|
|
2017
|
||||||||||||||||
|
Level 1
|
|
|
Level 2
|
|
|
Level 3
|
|
|
Total
|
|
|
Total
|
||||||
Insurance contracts
|
$
|
—
|
|
|
$
|
53.0
|
|
|
$
|
—
|
|
|
$
|
53.0
|
|
|
$
|
46.3
|
|
Other investments
|
—
|
|
|
17.0
|
|
|
—
|
|
|
17.0
|
|
|
9.4
|
|
|||||
Total assets measured at fair value
|
$
|
—
|
|
|
$
|
70.0
|
|
|
$
|
—
|
|
|
70.0
|
|
|
55.7
|
|
||
Cash
|
|
|
|
|
|
|
0.2
|
|
|
—
|
|
||||||||
Investment Fund valued using net asset value
|
|
|
|
|
|
|
50.9
|
|
|
51.7
|
|
||||||||
Total pension plan assets at fair value
|
|
|
|
|
|
|
$
|
121.1
|
|
|
$
|
107.4
|
|
|
Pension Benefits
|
||
2019
|
$
|
7.1
|
|
2020
|
6.5
|
|
|
2021
|
6.4
|
|
|
2022
|
6.4
|
|
|
2023
|
6.4
|
|
|
2024-2028
|
34.8
|
|
|
Fiscal Year Ended January 31,
|
||||||||||
|
2018
|
|
2017
|
|
2016
|
||||||
Service cost for benefits earned during the period
|
$
|
5.2
|
|
|
$
|
5.6
|
|
|
$
|
5.7
|
|
Interest cost on projected benefit obligation
|
2.7
|
|
|
3.0
|
|
|
3.3
|
|
|||
Expected return on plan assets
|
(3.9
|
)
|
|
(4.2
|
)
|
|
(3.9
|
)
|
|||
Amortization of prior service credit
|
(0.3
|
)
|
|
(0.3
|
)
|
|
(0.1
|
)
|
|||
Amortization of loss
|
1.2
|
|
|
1.5
|
|
|
1.4
|
|
|||
Settlement loss
|
1.9
|
|
|
1.2
|
|
|
—
|
|
|||
Curtailment gain
|
(0.1
|
)
|
|
—
|
|
|
—
|
|
|||
Net periodic benefit cost
|
$
|
6.7
|
|
|
$
|
6.8
|
|
|
$
|
6.4
|
|
|
Fiscal Year Ended January 31,
|
||||||||||
|
2018
|
|
2017
|
|
2016
|
||||||
Prior service credit for period
|
$
|
0.2
|
|
|
$
|
—
|
|
|
$
|
(2.2
|
)
|
Net (gain) loss for period
|
(2.5
|
)
|
|
7.2
|
|
|
9.1
|
|
|||
Effect of settlement
|
(1.9
|
)
|
|
(1.2
|
)
|
|
—
|
|
|||
Effect of curtailment
|
(0.2
|
)
|
|
—
|
|
|
—
|
|
|||
Amortization of prior service credit
|
0.3
|
|
|
0.3
|
|
|
0.1
|
|
|||
Amortization of net loss
|
(1.2
|
)
|
|
(1.5
|
)
|
|
(1.4
|
)
|
|||
Other comprehensive (income) loss
|
$
|
(5.3
|
)
|
|
$
|
4.8
|
|
|
$
|
5.6
|
|
|
Fiscal Year Ended January 31,
|
||||||
|
2018
|
|
2017
|
||||
Net prior service credit
|
$
|
(3.1
|
)
|
|
$
|
(3.6
|
)
|
Net actuarial loss
|
34.8
|
|
|
40.6
|
|
||
Accumulated other comprehensive loss, before tax
|
$
|
31.7
|
|
|
$
|
37.0
|
|
|
Pension Benefits
|
||
Amortization of prior service credit
|
$
|
0.2
|
|
Amortization of the net loss
|
(0.6
|
)
|
|
Total amortization
|
$
|
(0.4
|
)
|
|
Fiscal Year Ended January 31,
|
|||||||
|
2018
|
|
2017
|
|
2016
|
|||
Discount rate
|
2.4
|
%
|
|
3.2
|
%
|
|
3.2
|
%
|
Expected long-term rate of return on plan assets
|
3.3
|
%
|
|
4.3
|
%
|
|
3.8
|
%
|
Rate of compensation increase
|
2.3
|
%
|
|
2.2
|
%
|
|
2.2
|
%
|
|
Fiscal Year Ended January 31,
|
|||||||
|
2018
|
|
2017
|
|
2016
|
|||
Discount rate
|
1.8
|
%
|
|
1.7
|
%
|
|
2.2
|
%
|
Rate of compensation increase
|
2.6
|
%
|
|
2.6
|
%
|
|
2.6
|
%
|
|
Balances, January 31, 2017
|
|
Additions
|
|
Payments
|
|
Adjustments (1)
|
|
Balances, January 31, 2018
|
||||||||||
Fiscal 2018 Plan
|
|
|
|
|
|
|
|
|
|
||||||||||
Employee terminations costs
|
$
|
—
|
|
|
$
|
87.3
|
|
|
$
|
(35.1
|
)
|
|
$
|
0.8
|
|
|
$
|
53.0
|
|
Facility terminations and other exit costs
|
—
|
|
|
6.3
|
|
|
(1.3
|
)
|
|
(2.5
|
)
|
|
2.5
|
|
|||||
Fiscal 2017 Plan
|
|
|
|
|
|
|
|
|
|
||||||||||
Employee terminations costs
|
1.1
|
|
|
0.1
|
|
|
(1.5
|
)
|
|
0.3
|
|
|
—
|
|
|||||
Facility terminations and other exit costs
|
1.9
|
|
|
0.1
|
|
|
(1.5
|
)
|
|
(0.3
|
)
|
|
0.2
|
|
|||||
Other Facility Termination Costs
|
|
|
|
|
|
|
|
|
|
||||||||||
Facility termination costs
|
4.5
|
|
|
0.3
|
|
|
(3.0
|
)
|
|
(0.3
|
)
|
|
1.5
|
|
|||||
Total
|
$
|
7.5
|
|
|
$
|
94.1
|
|
|
$
|
(42.4
|
)
|
|
$
|
(2.0
|
)
|
|
$
|
57.2
|
|
Current portion (2)
|
$
|
5.9
|
|
|
|
|
|
|
|
|
$
|
57.2
|
|
||||||
Non-current portion (2)
|
1.6
|
|
|
|
|
|
|
|
|
—
|
|
||||||||
Total
|
$
|
7.5
|
|
|
|
|
|
|
|
|
$
|
57.2
|
|
(1)
|
Adjustments primarily relate to the accelerated depreciation of fixed assets and the impact of foreign exchanges rate changes.
|
(2)
|
The current and non-current portions of the reserve are recorded in the Consolidated Balance Sheets under “Other accrued liabilities” and “Other liabilities,” respectively.
|
|
Balances, January 31, 2016
|
|
Additions
|
|
Payments
|
|
Adjustments (1)
|
|
Balances, January 31, 2017
|
||||||||||
Fiscal 2017 Plan
|
|
|
|
|
|
|
|
|
|
||||||||||
Employee terminations costs
|
—
|
|
|
63.3
|
|
|
(62.2
|
)
|
|
—
|
|
|
1.1
|
|
|||||
Facility terminations and other exit costs
|
—
|
|
|
7.1
|
|
|
(3.2
|
)
|
|
(2.0
|
)
|
|
1.9
|
|
|||||
Other Facility Termination Costs
|
|
|
|
|
|
|
|
|
|
||||||||||
Facility termination costs
|
—
|
|
|
7.4
|
|
|
(1.8
|
)
|
|
(1.1
|
)
|
|
4.5
|
|
|||||
Total
|
$
|
—
|
|
|
$
|
77.8
|
|
|
$
|
(67.2
|
)
|
|
$
|
(3.1
|
)
|
|
$
|
7.5
|
|
Current portion (2)
|
$
|
—
|
|
|
|
|
|
|
|
|
$
|
5.9
|
|
||||||
Non-current portion (2)
|
—
|
|
|
|
|
|
|
|
|
1.6
|
|
||||||||
Total
|
$
|
—
|
|
|
|
|
|
|
|
|
$
|
7.5
|
|
(1)
|
Adjustments include the impact of foreign currency translation.
|
(2)
|
The current and non-current portions of the reserve are recorded in the Consolidated Balance Sheets under “Other accrued liabilities” and “Other liabilities,” respectively.
|
2018
|
1st quarter
|
|
2nd quarter
|
|
3rd quarter
|
|
4th quarter
|
|
Fiscal year
|
||||||||||
Net revenue
|
$
|
485.7
|
|
|
$
|
501.8
|
|
|
$
|
515.3
|
|
|
$
|
553.8
|
|
|
$
|
2,056.6
|
|
Gross profit
|
407.5
|
|
|
427.2
|
|
|
437.8
|
|
|
480.7
|
|
|
1,753.2
|
|
|||||
Loss from operations
|
(119.6
|
)
|
|
(107.6
|
)
|
|
(100.0
|
)
|
|
(181.9
|
)
|
|
(509.1
|
)
|
|||||
Provision for income taxes
|
(8.2
|
)
|
|
(17.6
|
)
|
|
(8.6
|
)
|
|
24.8
|
|
|
(9.6
|
)
|
|||||
Net loss
|
(129.6
|
)
|
|
(144.0
|
)
|
|
(119.8
|
)
|
|
(173.5
|
)
|
|
(566.9
|
)
|
|||||
Basic net loss per share
|
$
|
(0.59
|
)
|
|
$
|
(0.66
|
)
|
|
$
|
(0.55
|
)
|
|
$
|
(0.79
|
)
|
|
$
|
(2.58
|
)
|
Diluted net loss per share
|
$
|
(0.59
|
)
|
|
$
|
(0.66
|
)
|
|
$
|
(0.55
|
)
|
|
$
|
(0.79
|
)
|
|
$
|
(2.58
|
)
|
Loss from operations includes the following items:
|
|
|
|
|
|
|
|
|
|
||||||||||
Stock-based compensation expense
|
$
|
59.0
|
|
|
$
|
58.8
|
|
|
$
|
65.1
|
|
|
$
|
62.1
|
|
|
$
|
245.0
|
|
Amortization of acquisition related intangibles
|
10.4
|
|
|
8.9
|
|
|
8.7
|
|
|
8.6
|
|
|
36.6
|
|
|||||
CEO transition costs
|
11.0
|
|
|
10.6
|
|
|
—
|
|
|
(0.2
|
)
|
|
21.4
|
|
|||||
Restructuring charges and other facility exit costs, net
|
(0.3
|
)
|
|
0.5
|
|
|
—
|
|
|
93.9
|
|
|
94.1
|
|
|||||
|
|
|
|
|
|
|
|
|
|
||||||||||
2017
|
1st quarter
|
|
2nd quarter
|
|
3rd quarter
|
|
4th quarter
|
|
Fiscal year
|
||||||||||
Net revenue
|
$
|
511.9
|
|
|
$
|
550.7
|
|
|
$
|
489.6
|
|
|
$
|
478.8
|
|
|
$
|
2,031.0
|
|
Gross profit
|
419.5
|
|
|
465.6
|
|
|
408.1
|
|
|
395.9
|
|
|
1,689.1
|
|
|||||
Loss from operations
|
(149.7
|
)
|
|
(62.9
|
)
|
|
(119.9
|
)
|
|
(167.1
|
)
|
|
(499.6
|
)
|
|||||
Provision for income taxes
|
(14.4
|
)
|
|
(25.2
|
)
|
|
(13.5
|
)
|
|
(5.2
|
)
|
|
(58.3
|
)
|
|||||
Net loss
|
(167.7
|
)
|
|
(98.2
|
)
|
|
(142.8
|
)
|
|
(173.4
|
)
|
|
(582.1
|
)
|
|||||
Basic net loss per share
|
$
|
(0.75
|
)
|
|
$
|
(0.44
|
)
|
|
$
|
(0.64
|
)
|
|
$
|
(0.78
|
)
|
|
$
|
(2.61
|
)
|
Diluted net loss per share
|
$
|
(0.75
|
)
|
|
$
|
(0.44
|
)
|
|
$
|
(0.64
|
)
|
|
$
|
(0.78
|
)
|
|
$
|
(2.61
|
)
|
Loss from operations includes the following items:
|
|
|
|
|
|
|
|
|
|
||||||||||
Stock-based compensation expense
|
$
|
51.6
|
|
|
$
|
54.3
|
|
|
$
|
56.6
|
|
|
$
|
59.3
|
|
|
$
|
221.8
|
|
Amortization of acquisition related intangibles
|
18.8
|
|
|
18.5
|
|
|
17.2
|
|
|
17.3
|
|
|
71.8
|
|
|||||
Restructuring charges, net
|
52.3
|
|
|
16.0
|
|
|
3.2
|
|
|
9.0
|
|
|
80.5
|
|
ITEM 9.
|
CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE
|
ITEM 9A.
|
CONTROLS AND PROCEDURES
|
ITEM 9B.
|
OTHER INFORMATION
|
ITEM 10.
|
DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE
|
Name
|
Age
|
|
Position
|
Andrew Anagnost
|
53
|
|
President and Chief Executive Officer
|
R. Scott Herren
|
56
|
|
SVP and Chief Financial Officer
|
Steve M. Blum
|
53
|
|
SVP, Worldwide Field Operations
|
Pascal W. Di Fronzo
|
53
|
|
SVP, Corporate Affairs, Chief Legal Officer & Secretary
|
Carmel Galvin
|
49
|
|
SVP, Chief Human Resources Officer
|
ITEM 11.
|
EXECUTIVE COMPENSATION
|
ITEM 12.
|
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS
|
ITEM 13.
|
CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE
|
ITEM 14.
|
PRINCIPAL ACCOUNTING FEES AND SERVICES
|
ITEM 15.
|
EXHIBITS AND FINANCIAL STATEMENT SCHEDULES
|
1.
|
Financial Statements
: The information concerning Autodesk’s financial statements, and Report of Ernst & Young LLP, Independent Registered Public Accounting Firm required by this Item is incorporated by reference herein to the section of this Report in
Item 8
, entitled “
Financial Statements and Supplementary Data
.”
|
2.
|
Financial Statement Schedule
: The following financial statement schedule of Autodesk, Inc., for the fiscal years ended
January 31, 2018
,
2017
, and
2016
, is filed as part of this Report and should be read in conjunction with the Consolidated Financial Statements of Autodesk, Inc.:
|
3.
|
Exhibits
: See Item 15(b) below. We have filed, or incorporated into this Report by reference, the exhibits listed on the accompanying Index to Exhibits immediately following the signature page of this Form 10-K.
|
ITEM 15(A)(2)
|
FINANCIAL STATEMENT SCHEDULE II
|
Description
|
Balance at
Beginning
of Fiscal Year
|
|
Additions
Charged to
Costs and
Expenses or
Revenues
|
|
Deductions
and
Write-Offs
|
|
Balance at
End of Fiscal Year
|
||||||||
|
(in millions)
|
||||||||||||||
Fiscal Year Ended January 31, 2018
|
|
|
|
|
|
|
|
||||||||
Allowance for doubtful accounts
|
$
|
1.5
|
|
|
$
|
2.1
|
|
|
$
|
1.3
|
|
|
$
|
2.3
|
|
Partner Program reserves (1)
|
28.1
|
|
|
224.3
|
|
|
215.9
|
|
|
36.5
|
|
||||
Restructuring
|
8.4
|
|
|
94.1
|
|
|
45.3
|
|
|
57.2
|
|
||||
Fiscal Year Ended January 31, 2017
|
|
|
|
|
|
|
|
||||||||
Allowance for doubtful accounts
|
$
|
7.6
|
|
|
$
|
(3.3
|
)
|
|
$
|
2.8
|
|
|
$
|
1.5
|
|
Partner Program reserves (1)
|
45.2
|
|
|
240.3
|
|
|
257.4
|
|
|
28.1
|
|
||||
Restructuring
|
1.3
|
|
|
77.8
|
|
|
70.7
|
|
|
8.4
|
|
||||
Fiscal Year Ended January 31, 2016
|
|
|
|
|
|
|
|
||||||||
Allowance for doubtful accounts
|
$
|
6.3
|
|
|
$
|
2.3
|
|
|
$
|
1.0
|
|
|
$
|
7.6
|
|
Partner Program reserves (1)
|
36.5
|
|
|
267.4
|
|
|
258.7
|
|
|
45.2
|
|
||||
Restructuring
|
1.6
|
|
|
—
|
|
|
0.3
|
|
|
1.3
|
|
(1)
|
The partner program reserves balance impacts "Accounts receivable, net" and "Accounts payable" on the accompanying Consolidated Balance Sheets.
|
ITEM 16
|
FORM 10-K SUMMARY
|
|
|
AUTODESK, INC.
|
|
|
|
By:
|
/s/ ANDREW ANAGNOST
|
|
|
|
Andrew Anagnost
|
|
|
|
President and Chief Executive Officer
|
Dated:
|
March 22, 2018
|
|
|
Signature
|
|
Title
|
/s/ ANDREW ANAGNOST
|
|
President and Chief Executive Officer, Director
(Principal Executive Officer)
|
Andrew Anagnost
|
|
|
|
|
|
/s/ R. SCOTT HERREN
|
|
Senior Vice President and Chief Financial Officer
(Principal Financial Officer) |
R. Scott Herren
|
|
|
|
|
|
/s/ PAUL UNDERWOOD
|
|
Vice President and Controller
(Principal Accounting Officer)
|
Paul Underwood
|
|
|
|
|
|
/s/ CRAWFORD W. BEVERIDGE
|
|
Director
(Non-executive Chairman of the Board) |
Crawford W. Beveridge
|
|
|
|
|
|
/s/ CARL BASS
|
|
Director
|
Carl Bass
|
|
|
|
|
|
/s/ REID FRENCH
|
|
Director
|
Reid French
|
|
|
|
|
|
/s/ THOMAS GEORGENS
|
|
Director
|
Thomas Georgens
|
|
|
|
|
|
/s/ RICK HILL
|
|
Director
|
Rick Hill
|
|
|
|
|
|
/s/ MARY T. MCDOWELL
|
|
Director
|
Mary T. McDowell
|
|
|
|
|
|
/s/ LORRIE M. NORRINGTON
|
|
Director
|
Lorrie M. Norrington
|
|
|
|
|
|
/s/ ELIZABETH RAFAEL
|
|
Director
|
Elizabeth Rafael
|
|
|
|
|
|
/s/ STACY J. SMITH
|
|
Director
|
Stacy J. Smith
|
|
|
|
|
|
|
|
Director
|
Karen Blasing
|
|
|
Exhibit No.
|
|
Description
|
|
|
|
3.1
|
|
|
|
|
|
3.2
|
|
|
|
|
|
4.1
|
|
|
|
|
|
4.2
|
|
|
|
|
|
4.3
|
|
|
|
|
|
4.4
|
|
|
|
|
|
10.1*
|
|
|
|
|
|
10.2*
|
|
|
|
|
|
10.3*
|
|
|
|
|
|
10.4*
|
|
|
|
|
|
10.5*
|
|
|
|
|
|
10.6*
|
|
|
|
|
|
10.7*
|
|
|
|
|
|
10.8*
|
|
Exhibit No.
|
|
Description
|
10.9*
|
|
|
|
|
|
10.10*
|
|
|
|
|
|
10.11*
|
|
|
|
|
|
10.12*
|
|
|
|
|
|
10.13*
|
|
|
|
|
|
10.14*
|
|
|
|
|
|
10.15*
|
|
|
|
|
|
10.16*
|
|
|
|
|
|
10.17*
|
|
|
|
|
|
10.18*
|
|
|
|
|
|
10.19*
|
|
|
|
|
|
10.20*
|
|
|
|
|
|
10.21
|
|
|
|
|
|
10.22
|
|
|
|
|
|
10.23
|
|
|
|
|
|
10.24
|
|
|
|
|
|
10.25
|
|
|
|
|
|
10.26
|
|
|
|
|
|
10.27
|
|
Exhibit No.
|
|
Description
|
|
|
|
10.28*
|
|
|
|
|
|
10.29*
|
|
|
|
|
|
10.30
|
|
|
|
|
|
10.31
|
|
|
|
|
|
|
|
|
21.1
|
|
|
|
|
|
23.1
|
|
|
|
|
|
24.1
|
|
Power of Attorney (contained in the signature page to this Annual Report)
|
|
|
|
31.1
|
|
|
|
|
|
31.2
|
|
|
|
|
|
32.1†
|
|
|
|
|
|
101.INS ††
|
|
XBRL Instance Document
|
|
|
|
101.SCH ††
|
|
XBRL Taxonomy Extension Schema
|
|
|
|
101.CAL ††
|
|
XBRL Taxonomy Extension Calculation Linkbase
|
|
|
|
101.DEF ††
|
|
XBRL Taxonomy Extension Definition Linkbase
|
|
|
|
101.LAB ††
|
|
XBRL Taxonomy Extension Label Linkbase
|
|
|
|
101.PRE ††
|
|
XBRL Taxonomy Extension Presentation Linkbase
|
*
|
Denotes a management contract or compensatory plan or arrangement.
|
†
|
The certifications attached as Exhibit 32.1 that accompany this Annual Report on Form 10-K are not deemed filed with the Securities and Exchange Commission and are not to be incorporated by reference into any filing of Autodesk, Inc. under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, whether made before or after the date of this Form 10-K, irrespective of any general incorporation language contained in such filing.
|
††
|
The financial information contained in these XBRL documents is unaudited.
|
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