Autodesk, Inc. |
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Reconciliation of GAAP financial measures to non-GAAP financial measures | |||||||
(In millions, except per share data) |
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To supplement our condensed consolidated financial statements presented on a GAAP basis, we provide investors with certain non-GAAP
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There are limitations in using non-GAAP financial measures because non-GAAP financial measures are not prepared in accordance with GAAP and
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The following table shows Autodesk's GAAP results reconciled to non-GAAP results included in this release. | |||||||
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| Three Months Ended July 31, |
| Six Months Ended July 31, | ||||
| 2023 |
| 2022 |
| 2023 |
| 2022 |
| (Unaudited) |
| (Unaudited) | ||||
GAAP operating margin | 19 % |
| 20 % |
| 18 % |
| 19 % |
Stock-based compensation expense | 15 % |
| 14 % |
| 14 % |
| 13 % |
Amortization of developed technologies | 1 % |
| 1 % |
| 1 % |
| 1 % |
Amortization of purchased intangibles | 1 % |
| 1 % |
| 1 % |
| 1 % |
Lease-related asset impairments and other charges | 1 % |
| 1 % |
| — % |
| — % |
Non-GAAP operating margin (1) | 36 % |
| 36 % |
| 34 % |
| 35 % |
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GAAP income from operations | $ 262 |
| $ 242 |
| $ 479 |
| $ 456 |
Stock-based compensation expense | 197 |
| 169 |
| 362 |
| 324 |
Amortization of developed technologies | 11 |
| 14 |
| 20 |
| 27 |
Amortization of purchased intangibles | 10 |
| 9 |
| 20 |
| 20 |
Acquisition-related costs | 2 |
| 3 |
| 5 |
| 6 |
Lease-related asset impairments and other charges | 7 |
| 7 |
| 7 |
| 8 |
Non-GAAP income from operations | $ 489 |
| $ 444 |
| $ 893 |
| $ 841 |
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GAAP diluted net income per share | $ 1.03 |
| $ 0.85 |
| $ 1.77 |
| $ 1.52 |
Stock-based compensation expense | 0.92 |
| 0.78 |
| 1.68 |
| 1.49 |
Amortization of developed technologies | 0.05 |
| 0.06 |
| 0.09 |
| 0.12 |
Amortization of purchased intangibles | 0.05 |
| 0.04 |
| 0.09 |
| 0.09 |
Acquisition-related costs | 0.01 |
| 0.01 |
| 0.02 |
| 0.03 |
Lease-related asset impairments and other charges | 0.03 |
| 0.04 |
| 0.03 |
| 0.04 |
Loss on strategic investments and dispositions, net | 0.07 |
| — |
| 0.07 |
| — |
Discrete GAAP tax items | (0.09) |
| 0.01 |
| (0.12) |
| (0.03) |
Income tax effect of non-GAAP adjustments | (0.16) |
| (0.14) |
| (0.19) |
| (0.17) |
Non-GAAP diluted net income per share | $ 1.91 |
| $ 1.65 |
| $ 3.44 |
| $ 3.09 |
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Net cash provided by operating activities | $ 135 |
| $ 257 |
| $ 858 |
| $ 691 |
Capital expenditures | (7) |
| (11) |
| (16) |
| (23) |
Free cash flow | $ 128 |
| $ 246 |
| $ 842 |
| $ 668 |
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(1) Totals may not sum due to rounding. |