Autodesk, Inc. |
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Condensed Consolidated Statements of Cash Flows |
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(In millions) |
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| Six Months Ended July 31, | ||
| 2023 |
| 2022 |
| (Unaudited) | ||
Operating activities: |
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Net income | $ 383 |
| $ 332 |
Adjustments to reconcile net income to net cash provided by operating activities: |
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Depreciation, amortization and accretion | 66 |
| 76 |
Stock-based compensation expense | 362 |
| 322 |
Deferred income taxes | (65) |
| (43) |
Lease-related asset impairments | 7 |
| 9 |
Other | (33) |
| (11) |
Changes in operating assets and liabilities, net of business combinations: |
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Accounts receivable | 559 |
| 281 |
Prepaid expenses and other assets | (23) |
| (25) |
Accounts payable and other liabilities | (115) |
| (199) |
Deferred revenue | (350) |
| (77) |
Accrued income taxes | 67 |
| 26 |
Net cash provided by operating activities | 858 |
| 691 |
Investing activities: |
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Purchases of marketable securities | (687) |
| (97) |
Sales and maturities of marketable securities | 339 |
| 245 |
Capital expenditures | (16) |
| (23) |
Purchases of intangible assets | (10) |
| (5) |
Business combinations, net of cash acquired | (26) |
| (96) |
Other investing activities | (18) |
| (47) |
Net cash used in investing activities | (418) |
| (23) |
Financing activities: |
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Proceeds from issuance of common stock, net of issuance costs | 71 |
| 67 |
Taxes paid related to net share settlement of equity awards | (120) |
| (92) |
Repurchases of common stock | (616) |
| (708) |
Net cash used in financing activities | (665) |
| (733) |
Effect of exchange rate changes on cash and cash equivalents | (8) |
| (23) |
Net decrease in cash and cash equivalents | (233) |
| (88) |
Cash and cash equivalents at beginning of period | 1,947 |
| 1,528 |
Cash and cash equivalents at end of period | $ 1,714 |
| $ 1,440 |
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Supplemental cash flow disclosure: |
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Non-cash financing activities: |
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Fair value of common stock issued to settle liability-classified restricted common stock | $ 9 |
| $ 5 |
Fair value of common stock issued related to business combinations | $ — |
| $ 10 |