Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jul. 31, 2016 | Aug. 23, 2016 | |
Document and Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jul. 31, 2016 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q2 | |
Trading Symbol | ADSK | |
Entity Registrant Name | AUTODESK INC | |
Entity Central Index Key | 769,397 | |
Current Fiscal Year End Date | --01-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 221,892,961 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2016 | Jul. 31, 2015 | Jul. 31, 2016 | Jul. 31, 2015 | |
Net revenue: | ||||
Subscription | $ 322 | $ 319 | $ 648 | $ 638.8 |
License and other | 228.7 | 290.5 | 414.6 | 617.2 |
Total net revenue | 550.7 | 609.5 | 1,062.6 | 1,256 |
Cost of revenue: | ||||
Cost of subscription revenue | 38.2 | 40 | 78 | 78.7 |
Cost of license and other revenue | 46.9 | 53 | 99.5 | 106.1 |
Total cost of revenue | 85.1 | 93 | 177.5 | 184.8 |
Gross profit | 465.6 | 516.5 | 885.1 | 1,071.2 |
Operating expenses: | ||||
Marketing and sales | 243.1 | 240.8 | 483.9 | 494.7 |
Research and development | 193 | 193.1 | 386.5 | 387.6 |
General and administrative | 68.6 | 70.1 | 143.3 | 146 |
Amortization of purchased intangibles | 7.8 | 8.2 | 15.7 | 17.1 |
Restructuring charges and other facility exit costs, net | 16 | 0 | 68.3 | 0 |
Total operating expenses | 528.5 | 512.2 | 1,097.7 | 1,045.4 |
(Loss) income from operations | (62.9) | 4.3 | (212.6) | 25.8 |
Interest and other expense, net | (10.1) | (3.4) | (13.7) | (3.1) |
(Loss) income before income taxes | (73) | 0.9 | (226.3) | 22.7 |
Provision for income taxes | (25.2) | (269.5) | (39.6) | (272.2) |
Net loss | $ (98.2) | $ (268.6) | $ (265.9) | $ (249.5) |
Basic net loss per share (in usd per share) | $ (0.44) | $ (1.18) | $ (1.19) | $ (1.10) |
Diluted net loss per share (in usd per share) | $ (0.44) | $ (1.18) | $ (1.19) | $ (1.10) |
Weighted average shares used in computing basic net loss per share (shares) | 223.2 | 227 | 223.8 | 227.1 |
Weighted average shares used in computing diluted net loss per share (shares) | 223.2 | 227 | 223.8 | 227.1 |
CONDENSED CONSOLIDATED STATEME3
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2016 | Jul. 31, 2015 | Jul. 31, 2016 | Jul. 31, 2015 | |
Statement of Comprehensive Income [Abstract] | ||||
Net loss | $ (98.2) | $ (268.6) | $ (265.9) | $ (249.5) |
Other comprehensive loss, net of reclassifications: | ||||
Net (loss) on derivative instruments (net of tax effect of $1.1, $0.8, ($0.8) and ($0.7), respectively) | (1.5) | (4.7) | (11) | (10.1) |
Change in net unrealized gain (loss) on available-for-sale securities (net of tax effect of ($0.1), $0.3, ($0.6) and $0.2, respectively) | 1.1 | (1.4) | 3.4 | (1.2) |
Change in defined benefit pension items (net of tax effect of ($0.2), $0.0, ($0.2) and $0.0, respectively) | 0 | 0.3 | 0.3 | 1 |
Net change in cumulative foreign currency translation loss (net of tax effect of $0.0, $0.7, $0.0 and $4.5, respectively) | (7.9) | (8.5) | (1.4) | (6.7) |
Total other comprehensive loss | (8.3) | (14.3) | (8.7) | (17) |
Total comprehensive loss | $ (106.5) | $ (282.9) | $ (274.6) | $ (266.5) |
CONDENSED CONSOLIDATED STATEME4
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Parenthetical) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2016 | Jul. 31, 2015 | Jul. 31, 2016 | Jul. 31, 2015 | |
Statement of Comprehensive Income [Abstract] | ||||
Net (loss) on derivative instruments, tax effect | $ 1.1 | $ 0.8 | $ (0.8) | $ (0.7) |
Change in net unrealized gain (loss) on available-for-sale securities, tax effect | (0.1) | 0 | (0.6) | 0.2 |
Change in defined benefit pension items, tax effect | (0.2) | 0 | (0.2) | 0 |
Net change in cumulative foreign currency translation loss, tax effect | $ 0 | $ 0.1 | $ 0 | $ 4.5 |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions | Jul. 31, 2016 | Jan. 31, 2016 |
Current assets: | ||
Cash and cash equivalents | $ 1,467.3 | $ 1,353 |
Marketable securities | 597.6 | 897.9 |
Accounts receivable, net | 306.9 | 653.6 |
Prepaid expenses and other current assets | 114.7 | 88.6 |
Total current assets | 2,486.5 | 2,993.1 |
Marketable securities | 505.6 | 532.3 |
Computer equipment, software, furniture and leasehold improvements, net | 173 | 169.3 |
Developed technologies, net | 66.6 | 70.8 |
Goodwill | 1,597.4 | 1,535 |
Deferred income taxes, net | 9.8 | 9.2 |
Other assets | 208.5 | 205.6 |
Total assets | 5,047.4 | 5,515.3 |
Current liabilities: | ||
Accounts payable | 110.3 | 119.9 |
Accrued compensation | 160 | 243.3 |
Accrued income taxes | 54.1 | 29.4 |
Deferred revenue | 1,107.1 | 1,068.9 |
Other accrued liabilities | 128.1 | 129.5 |
Total current liabilities | 1,559.6 | 1,591 |
Long-term deferred revenue | 412.9 | 450.3 |
Long-term income taxes payable | 42.7 | 161.4 |
Long-term deferred income taxes | 66.6 | 67.7 |
Long-term notes payable, net | 1,489.2 | 1,487.7 |
Other liabilities | 144.7 | 137.6 |
Stockholders’ equity: | ||
Preferred stock | 0 | 0 |
Common stock and additional paid-in capital | 1,857.1 | 1,821.5 |
Accumulated other comprehensive loss | (129.8) | (121.1) |
Retained earnings | (395.6) | (80.8) |
Total stockholders’ equity | 1,331.7 | 1,619.6 |
Total liabilities and stockholders' equity | $ 5,047.4 | $ 5,515.3 |
CONDENSED CONSOLIDATED STATEME6
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions | 6 Months Ended | |
Jul. 31, 2016 | Jul. 31, 2015 | |
Operating activities: | ||
Net loss | $ (265.9) | $ (249.5) |
Adjustments to reconcile net loss to net cash provided by operating activities: | ||
Depreciation, amortization and accretion | 70.4 | 74 |
Stock-based compensation expense | 105.9 | 90.9 |
Deferred income taxes | (9.2) | 223 |
Restructuring charges and other facility exit costs, net | 68.3 | 0 |
Other operating activities | (6.2) | (15.3) |
Changes in operating assets and liabilities, net of acquisitions: | ||
Accounts receivable | 346.9 | 64.4 |
Prepaid expenses and other current assets | (23.3) | (19.4) |
Accounts payable and accrued liabilities | (44.6) | (80.3) |
Deferred revenue | (1.4) | 79.2 |
Accrued income taxes | (94.5) | (3.3) |
Net cash provided by operating activities | 146.4 | 163.7 |
Investing activities: | ||
Purchases of marketable securities | (810.9) | (1,314.2) |
Sales of marketable securities | 354.7 | 187 |
Maturities of marketable securities | 791.3 | 541 |
Capital expenditures | (42.6) | (29.8) |
Acquisitions, net of cash acquired | (85.2) | (37.5) |
Other investing activities | (6.7) | (13.1) |
Net cash provided by (used in) investing activities | 200.6 | (666.6) |
Financing activities: | ||
Proceeds from issuance of common stock, net of issuance costs | 54.2 | 61.9 |
Taxes paid related to net share settlement of equity awards | (19.9) | (28.7) |
Repurchases of common stock | (270) | (207.7) |
Proceeds from debt, net of discount | 0 | 748.3 |
Other financing activities | 0 | (6.3) |
Net cash (used in) provided by financing activities | (235.7) | 567.5 |
Effect of exchange rate changes on cash and cash equivalents | 3 | (2.1) |
Net increase in cash and cash equivalents | 114.3 | 62.5 |
Cash and cash equivalents at beginning of period | 1,353 | 1,410.6 |
Cash and cash equivalents at end of period | $ 1,467.3 | $ 1,473.1 |
Basis of Presentation
Basis of Presentation | 6 Months Ended |
Jul. 31, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements of Autodesk, Inc. (“Autodesk,” “we,” “us,” “our,” or the “Company”) as of July 31, 2016 , and for the three and six months ended July 31, 2016 and 2015 , have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") for interim financial information along with the instructions to Form 10-Q and Article 10 of Securities and Exchange Commission (“SEC”) Regulation S-X. Accordingly, they do not include all of the information and notes required by GAAP for annual financial statements. In management’s opinion, Autodesk made all adjustments (consisting of normal, recurring and non-recurring adjustments) during the quarter that were considered necessary for the fair statement of the financial position and operating results of the Company. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect reported amounts in the financial statements and accompanying notes. Actual results could differ from those estimates. In addition, the results of operations for the three and six months ended July 31, 2016 are not necessarily indicative of the results for the entire fiscal year ending January 31, 2017 , or for any other period. There have been no material changes to Autodesk's significant accounting policies as compared to the significant accounting policies disclosed in the Annual Report on Form 10-K for the fiscal year ended January 31, 2016 . These unaudited Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and related notes, together with management’s discussion and analysis of financial position and results of operations contained in Autodesk’s Annual Report on Form 10-K for the fiscal year ended January 31, 2016 , filed on March 23, 2016. Prior Period Adjustments In the course of preparing the Condensed Consolidated Financial Statements for the three and nine months ended October 31, 2015, Autodesk determined that it had understated income tax expense by $ 33.1 million for the three and six months ended July 31, 2015, primarily related to an error in the establishment of the valuation allowance, which had been understated at July 31, 2015. Autodesk performed the analysis required by Staff Accounting Bulletin 99, Materiality , to evaluate the materiality of the error, quantitatively and qualitatively, and concluded it was not material to the Company’s Condensed Consolidated Financial Statements as of July 31, 2015 and for the three and six month periods ended July 31, 2015; however, in light of the significance of a correction of the error to the results for the three months ended October 31, 2015, Autodesk chose to correct the error by revising the previously reported results for the three and six months ended July 31, 2015. See Note 6, "Income Tax," in the Notes to the Condensed Consolidated Financial Statements for further discussion. During the quarter ended April 30, 2015, Autodesk determined that it had not correctly accounted for certain liabilities primarily related to employee benefits and unclaimed property. Accordingly, during the six months ended July 31, 2015 , we recorded $5.7 million of additional operating expenses related to prior periods. As these adjustments were related to the correction of errors, Autodesk performed the analysis required by Staff Accounting Bulletin No. 99, Materiality , and Staff Accounting Bulletin No. 108, Considering the Effects of Prior Year Misstatements When Quantifying Misstatements in Current Year Financial Statements . Based on this analysis, Autodesk concluded that the effect of the errors was not material to the financial position, results of operations or cash flows in fiscal 2016 or any other prior fiscal year from both a quantitative and qualitative perspective. |
Recently Issued Accounting Stan
Recently Issued Accounting Standards | 6 Months Ended |
Jul. 31, 2016 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Recently Issued Accounting Standards | Recently Issued Accounting Standards With the exception of those discussed below, there have been no recent changes in accounting pronouncements issued by the Financial Accounting Standards Board (“FASB”) or adopted by the Company during the six months ended July 31, 2016 , that are of significance, or potential significance, to the Company. Accounting Standards Adopted In March 2016, the FASB issued Accounting Standards Update No. 2016-09 ("ASU 2016-09") regarding ASC Topic 718, “Improvements to Employee Share-Based Payment Accounting.” The new guidance requires excess tax benefits and tax deficiencies to be recorded in the income statement when the awards vest or are settled. In addition, cash flows related to excess tax benefits will no longer be separately classified as a financing activity apart from other income tax cash flows. The standard also increases the amount of shares an employer can withhold for tax purposes without triggering liability accounting, clarifies that all cash payments made on an employee's behalf for withheld shares should be presented as a financing activity in the statements of cash flows, and provides an entity-wide accounting policy election to account for forfeitures as they occur. Autodesk early adopted the standard during the three months ended July 31, 2016. Upon adoption, under the modified retrospective transition method, the Company recognized the previously unrecognized excess tax benefits as increases in deferred tax assets for tax credit and tax loss carryovers, of which $116.5 million were available to offset liabilities for uncertain tax benefits. This reduction in liabilities for uncertain tax benefits resulted in a cumulative-effect increase of $116.5 million to the February 1, 2016 opening retained earnings balance. Tax attributes not available to offset uncertain tax benefits were fully offset by a valuation allowance. Autodesk elected to account for forfeitures as they occur using a modified retrospective transition method, which resulted in a cumulative-effect adjustment of $ 6.9 million to reduce the February 1, 2016 opening retained earnings balance. Autodesk elected to apply the change in presentation of excess tax benefits in the statements of cash flows retrospectively to all periods presented and no longer classifies them as a reduction from operating cash flows. However, the adoption did not impact the current or prior period presented as there were no excess tax benefits recorded. The retrospective presentation requirements for cash flows related to employee taxes paid for withheld shares had no impact to any prior period since such cash flows have historically been presented as a financing activity. Additional amendments to the accounting for minimum statutory withholding tax requirements had no impact to opening retained earnings as of February 1, 2016 as Autodesk does not withhold more than the minimum statutory requirements. As Autodesk elected to early adopt in the second quarter of fiscal 2017, we are required to reflect any adjustments as of February 1, 2016, the beginning of the annual period that includes the interim period of adoption, and are required to revise our reported quarterly results for the three months ended April 30, 2016 . Accordingly, this table reflects the retrospective adjustments made to beginning retained earnings and to the previously reported results for the three months ended April 30, 2016 : Condensed Consolidated Balance Sheets As Reported ASU 2016-09 Adoption Adjustments: As Adjusted (in millions) April 30, 2016 February 1, 2016 Retained Earnings For The Three Months Ended April 30, 2016 April 30, 2016 Long-term income taxes payable $ 153.8 $ (116.5 ) $ — $ 37.3 Common stock and additional paid-in capital 1,865.6 6.9 (5.3 ) 1,867.2 Retained earnings $ (308.2 ) $ 109.6 $ 5.3 $ (193.3 ) Condensed Consolidated Statements of Operations As Reported ASU 2016-09 Adoption Increase/(Decrease) As Adjusted (in millions, except per share data) Three Months Ended April 30, 2016 Three Months Ended April 30, 2016 Cost of subscription revenue $ 39.7 $ 0.1 $ 39.8 Cost of license and other revenue 52.8 (0.2 ) 52.6 Gross profit 419.4 0.1 419.5 Marketing and sales 242.9 (2.1 ) 240.8 Research and development 195.5 (2.0 ) 193.5 General and administrative 75.8 (1.1 ) 74.7 (Loss) from operations (155.0 ) 5.3 (149.7 ) Provision for income taxes (14.4 ) — (14.4 ) Net (loss) $ (173.0 ) $ 5.3 $ (167.7 ) Basic and diluted weighted average shares outstanding 224.4 — 224.4 Basic and diluted net (loss) per share $ (0.77 ) $ 0.02 $ (0.75 ) Effective in the first quarter of fiscal 2017, Autodesk adopted FASB's Accounting Standards Update No. 2015-05 ("ASU 2015-05") regarding Subtopic 350-40, “Intangibles - Goodwill and Other - Internal-Use Software: Customer's Accounting for Fees Paid in a Cloud Computing Arrangement.” The amendments in this ASU provide guidance about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, the customer should account for the software license element of the arrangement consistent with other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The amendments for ASU 2015-05 were prospectively applied and did not have a material impact on Autodesk's consolidated financial statements. Effective in the first quarter of fiscal 2017, Autodesk adopted FASB's Accounting Standards Update No. 2015-07 ("ASU 2015-07") regarding ASC Topic 820, "Fair Value Measurement: Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent)." The amendments in ASU 2015-07 remove the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using the net asset value per share practical expedient. The amendments also limit certain disclosures to investments for which the entity has elected to measure at fair value using the net asset value per share practical expedient. The amendments were applied retrospectively by removing from the fair value hierarchy any investments for which fair value is measured using the net asset value per share practical expedient. Adoption did not have a material impact on Autodesk's consolidated financial statements. Recently Issued Accounting Standards In June 2016, the FASB issued Accounting Standards Update No. 2016-13 ("ASU 2016-13") regarding ASC Topic 326, "Financial Instruments - Credit Losses," which modifies the measurement of expected credit losses of certain financial instruments. The amendments will be effective for Autodesk's fiscal year beginning February 1, 2019 unless Autodesk elects early adoption. Autodesk does not believe ASU 2016-13 will have a material impact on its consolidated financial statements. In February 2016, the FASB issued Accounting Standards Update No. 2016-02 ("ASU 2016-02") regarding ASC Topic 842, "Leases." The amendments in this ASU require balance sheet recognition of lease assets and lease liabilities by lessees for leases classified as operating leases, with an optional policy election to not recognize lease assets and lease liabilities for leases with a term of 12 months or less. The amendments also require new disclosures, including qualitative and quantitative requirements, providing additional information about the amounts recorded in the financial statements. ASU 2016-02 will be effective for Autodesk’s fiscal year beginning February 1, 2019 unless Autodesk elects early adoption. The amendments require a modified retrospective approach with optional practical expedients. Autodesk is currently evaluating the accounting, transition, and disclosure requirements of the standard and cannot currently estimate the financial statement impact of adoption. In January 2016, the FASB issued Accounting Standards Update No. 2016-01 ("ASU 2016-01") regarding ASC Topic 825-10, "Financial Instruments - Overall." The amendments address certain aspects of recognition, measurement, presentation, and disclosure of financial instruments, and require equity securities to be measured at fair value with changes in fair value recognized through net income. The amendments also simplify the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment for impairment quarterly at each reporting period. The amendments in ASU 2016-01 will be effective for Autodesk's fiscal year beginning February 1, 2018. An entity should apply the amendments by means of a cumulative-effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption, with prospective adoption of the amendments related to equity securities without readily determinable fair values existing as of the date of adoption. Autodesk does not believe ASU 2016-01 will have a material impact on its consolidated financial statements. In May 2014, the FASB issued Accounting Standards Update No. 2014-09 ("ASU 2014-09") regarding ASC Topic 606, “Revenue from Contracts with Customers.” ASU 2014-09 provides principles for recognizing revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In August 2015, the FASB issued Accounting Standards Update No. 2015-14 to defer the effective date by one year with early adoption permitted as of the original effective date. ASU 2014-09 will be effective for Autodesk’s fiscal year beginning February 1, 2018 unless we elect the earlier date of February 1, 2017. In addition, the FASB issued Accounting Standards Update No. 2016-08, Accounting Standards Update No. 2016-10, and Accounting Standards Update No. 2016-12 in March 2016, April 2016, and May 2016, respectively, to help provide interpretive clarifications on the new guidance in ASC Topic 606. Autodesk is currently evaluating the accounting, transition, and disclosure requirements of the standard and cannot currently estimate the financial statement impact of adoption. |
Concentration of Credit Risk
Concentration of Credit Risk | 6 Months Ended |
Jul. 31, 2016 | |
Risks and Uncertainties [Abstract] | |
Concentration of Credit Risk | Concentration of Credit Risk Autodesk places its cash, cash equivalents and marketable securities in highly liquid instruments with, and in the custody of, diversified financial institutions globally with high credit ratings and limits the amounts invested with any one institution, type of security and issuer. Autodesk’s primary commercial banking relationship is with Citigroup Inc. and its global affiliates. Citibank, N.A., an affiliate of Citigroup, is one of the lead lenders and an agent in the syndicate of Autodesk’s $400.0 million line of credit facility. Total sales to the distributor Tech Data Corporation and its global affiliates (“Tech Data”) accounted for 31% and 30% of Autodesk’s total net revenue for the three and six months ended July 31, 2016 , respectively, and 23% and 25% for the three and six months ended July 31, 2015 , respectively. The majority of the net revenue from sales to Tech Data relates to Autodesk’s Architecture, Engineering and Construction (“AEC”) segment and is for sales made outside of the United States. In addition, Tech Data accounted for 31% and 22% of trade accounts receivable at July 31, 2016 and January 31, 2016 , respectively. |
Financial Instruments
Financial Instruments | 6 Months Ended |
Jul. 31, 2016 | |
Investments, All Other Investments [Abstract] | |
Financial Instruments | Financial Instruments The following tables summarize the Company's financial instruments' amortized cost, gross unrealized gains, gross unrealized losses, and fair value by significant investment category as of July 31, 2016 and January 31, 2016 : July 31, 2016 Amortized Cost Gross unrealized gains Gross unrealized losses Fair Value Level 1 Level 2 Level 3 Cash equivalents (1): Agency bonds $ 44.2 $ — $ — $ 44.2 $ 44.2 $ — $ — Certificates of deposit 181.3 — — 181.3 181.3 — — Commercial paper 296.9 — — 296.9 — 296.9 — Corporate bonds 8.7 — — 8.7 8.7 — — Custody cash deposit 22.5 — — 22.5 22.5 — — Money market funds 143.8 — — 143.8 — 143.8 — Municipal bonds 5.0 — — 5.0 5.0 — — U.S. government securities 167.0 — — 167.0 167.0 — — Marketable securities: Short-term available-for-sale Agency bonds 41.9 — — 41.9 41.9 — — Asset backed securities 10.8 — — 10.8 — 10.8 — Certificates of deposit 55.4 — — 55.4 55.4 — — Commercial paper 119.4 — — 119.4 — 119.4 — Corporate bonds 267.2 0.2 (0.1 ) 267.3 267.3 — — Sovereign debt 19.6 — — 19.6 — 19.6 — U.S. government securities 37.6 — — 37.6 37.6 — — Short-term trading securities Mutual funds 43.7 1.9 — 45.6 45.6 — — Long-term available-for-sale Agency bonds 52.0 0.3 — 52.3 52.3 — — Asset backed securities 58.9 0.2 — 59.1 — 59.1 — Certificates of deposit 1.8 — — 1.8 1.8 — — Corporate bonds 276.1 1.5 (0.1 ) 277.5 277.5 — — Municipal bonds 9.5 0.1 — 9.6 9.6 — — Sovereign debt 10.8 — — 10.8 — 10.8 — U.S. government securities 94.2 0.3 — 94.5 94.5 — — Convertible debt securities (2) 6.3 2.2 (1.1 ) 7.4 — — 7.4 Derivative contracts (3) 3.2 7.1 (10.8 ) (0.5 ) — (1.7 ) 1.2 Total $ 1,977.8 $ 13.8 $ (12.1 ) $ 1,979.5 $ 1,312.2 $ 658.7 $ 8.6 ____________________ (1) Included in “ Cash and cash equivalents ” in the accompanying Condensed Consolidated Balance Sheets. (2) Considered “available-for-sale” and included in “ Other assets ” in the accompanying Condensed Consolidated Balance Sheets. (3) Included in “ Prepaid expenses and other current assets ,” “ Other assets ,” or “ Other accrued liabilities ” in the accompanying Condensed Consolidated Balance Sheets. January 31, 2016 Amortized Cost Gross unrealized gains Gross unrealized losses Fair Value Level 1 Level 2 Level 3 Cash equivalents (1): Agency bonds $ 8.5 $ — $ — $ 8.5 $ 8.5 $ — $ — Certificates of deposit 267.6 — — 267.6 267.6 — — Commercial paper 106.6 — — 106.6 — 106.6 — Custody cash deposit 2.1 — — 2.1 2.1 — — Money market funds 382.4 — — 382.4 — 382.4 — Municipal bonds 5.0 — — 5.0 5.0 — — U.S. government securities 103.0 — — 103.0 103.0 — — Marketable securities: Short-term available-for-sale Agency bonds 40.0 — (0.1 ) 39.9 39.9 — — Asset backed securities 7.3 — — 7.3 — 7.3 — Certificates of deposit 190.3 — — 190.3 190.3 — — Commercial paper 141.1 — — 141.1 — 141.1 — Corporate debt securities 377.1 0.1 (0.3 ) 376.9 376.9 — — Municipal bonds 9.7 — — 9.7 9.7 — — Sovereign debt 20.1 — — 20.1 — 20.1 U.S. government securities 74.6 — — 74.6 74.6 — — Short-term trading securities Mutual funds 38.8 0.4 (1.2 ) 38.0 38.0 — — Long-term available-for-sale Agency bonds 56.8 0.1 — 56.9 56.9 — — Asset backed securities 36.5 0.1 — 36.6 — 36.6 — Corporate debt securities 320.9 0.3 (0.8 ) 320.4 320.4 — — Municipal bonds 2.9 — — 2.9 2.9 — — Sovereign debt 16.9 — — 16.9 — 16.9 — U.S. government securities 98.4 0.3 (0.1 ) 98.6 98.6 — — Convertible debt securities (2) 2.5 2.0 (1.1 ) 3.4 — — 3.4 Derivative contracts (3) 1.5 7.8 (7.4 ) 1.9 — 1.6 0.3 Total $ 2,310.6 $ 11.1 $ (11.0 ) $ 2,310.7 $ 1,594.4 $ 712.6 $ 3.7 ____________________ (1) Included in “ Cash and cash equivalents ” in the accompanying Condensed Consolidated Balance Sheets. (2) Considered “available-for-sale” and included in “ Other assets ” in the accompanying Condensed Consolidated Balance Sheets. (3) Included in “ Prepaid expenses and other current assets ,” “ Other assets ,” or “ Other accrued liabilities ” in the accompanying Condensed Consolidated Balance Sheets. Autodesk classifies its marketable securities as either short-term or long-term based on each instrument’s underlying contractual maturity date. Marketable securities with remaining maturities of up to 12 months are classified as short-term and marketable securities with remaining maturities greater than 12 months are classified as long-term. Autodesk may sell certain of its marketable securities prior to their stated maturities for strategic purposes or in anticipation of credit deterioration. Autodesk applies fair value accounting for certain financial assets and liabilities, which consist of cash equivalents, marketable securities and other financial instruments, that are recognized or disclosed at fair value in the financial statements on a recurring basis. The Company defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement: (Level 1) observable inputs such as quoted prices in active markets; (Level 2) inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and (Level 3) unobservable inputs for which there is little or no market data, which require Autodesk to develop its own assumptions. When determining fair value, Autodesk uses observable market data and relies on unobservable inputs only when observable market data is not available. There have been no transfers between fair value measurement levels during the three and six months ended July 31, 2016 . Autodesk's cash equivalents, marketable securities and financial instruments are primarily classified within Level 1 or Level 2 of the fair value hierarchy. Autodesk values its available-for-sale securities on pricing from pricing vendors, who may use quoted prices in active markets for identical assets (Level 1) or inputs other than quoted prices that are observable either directly or indirectly in determining fair value (Level 2). Autodesk's Level 2 securities are valued primarily using observable inputs other than quoted prices in active markets for identical assets and liabilities. Autodesk's Level 3 securities consist of investments held in convertible debt securities and derivative contracts which are valued using probability weighted discounted cash flow models as some of the inputs to the models are unobservable in the market. A reconciliation of the change in Autodesk’s Level 3 items for the six months ended July 31, 2016 follows: Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Derivative Contracts Convertible Debt Securities Total Balance at January 31, 2016 $ 0.3 $ 3.4 $ 3.7 Purchases 0.9 4.0 4.9 Losses included in earnings — (0.2 ) (0.2 ) Gains included in OCI — 0.2 0.2 Balance at July 31, 2016 $ 1.2 $ 7.4 $ 8.6 The following table summarizes the estimated fair value of Autodesk's “available-for-sale securities” classified by the contractual maturity date of the security: July 31, 2016 Cost Fair Value Due within 1 year $ 555.7 $ 556.9 Due in 1 year through 5 years 504.4 506.7 Due in 5 years through 10 years 1.4 1.4 Total $ 1,061.5 $ 1,065.0 As of July 31, 2016 and January 31, 2016 , Autodesk had no material securities, individually and in aggregate, in a continuous unrealized loss position for greater than twelve months. As of July 31, 2016 and January 31, 2016 , Autodesk had $105.7 million and $104.3 million , respectively, in direct investments in privately held companies accounted for under the cost method, which are periodically assessed for other-than-temporary impairment. Autodesk estimates fair value of its cost method investments considering available information such as pricing in recent rounds of financing, current cash positions, earnings and cash flow forecasts, recent operational performance and any other readily available market data. If Autodesk determines that an other-than-temporary impairment has occurred, Autodesk writes down the investment to its fair value. During the six months ended July 31, 2016 and 2015 , Autodesk recorded $0.3 million and $0.2 million , respectively, in other-than-temporary impairment on its privately held equity investments. The sales or redemptions of “available-for-sale securities” during the six months ended July 31, 2016 and 2015 resulted in a gain of $ 0.4 million and $ 0.3 million , respectively. Gains and losses resulting from the sale or redemption of "available-for-sale securities" are recorded in “ Interest and other expense, net ” on the Company's Condensed Consolidated Statements of Operations. Proceeds from the sale and maturity of marketable securities for the six months ended July 31, 2016 and 2015 were $1,146.0 million and $728.0 million , respectively. Derivative Financial Instruments Under its risk management strategy, Autodesk uses derivative instruments to manage its short-term exposures to fluctuations in foreign currency exchange rates which exist as part of ongoing business operations. Autodesk's general practice is to hedge a portion of transaction exposures denominated in euros, Japanese yen, Swiss francs, British pounds, Canadian dollars and Australian dollars. These instruments have maturities between one and twelve months in the future. Autodesk does not enter into derivative instrument transactions for trading or speculative purposes. The bank counterparties to the derivative contracts potentially expose Autodesk to credit-related losses in the event of their nonperformance. However, to mitigate that risk, Autodesk only contracts with counterparties who meet the Company's minimum requirements under its counterparty risk assessment process. Autodesk monitors ratings, credit spreads and potential downgrades on at least a quarterly basis. Based on Autodesk's ongoing assessment of counterparty risk, the Company will adjust its exposure to various counterparties. Autodesk generally enters into master netting arrangements, which reduce credit risk by permitting net settlement of transactions with the same counterparty. However, Autodesk does not have any master netting arrangements in place with collateral features. Foreign currency contracts designated as cash flow hedges Autodesk uses foreign currency contracts to reduce the exchange rate impact on a portion of the net revenue or operating expense of certain anticipated transactions. These contracts are designated and documented as cash flow hedges. The effectiveness of the cash flow hedge contracts is assessed quarterly using regression analysis as well as other timing and probability criteria. To receive cash flow hedge accounting treatment, all hedging relationships are formally documented at the inception of the hedge and the hedges are expected to be highly effective in offsetting changes to future cash flows on hedged transactions. The gross gains and losses on these hedges are included in “ Accumulated other comprehensive loss ” and are reclassified into earnings at the time the forecasted revenue or expense is recognized. In the event the underlying forecasted transaction does not occur, or it becomes probable that it will not occur, Autodesk reclassifies the gain or loss on the related cash flow hedge from “ Accumulated other comprehensive loss ” to “ Interest and other expense, net ” in the Company's Condensed Consolidated Financial Statements at that time. The net notional amounts of these contracts are presented net settled and were $445.7 million at July 31, 2016 and $142.4 million at January 31, 2016 . Outstanding contracts are recognized as either assets or liabilities on the balance sheet at fair value. The majority of the net gain of $4.7 million remaining in “ Accumulated other comprehensive loss ” as of July 31, 2016 is expected to be recognized into earnings within the next twelve months. Derivatives not designated as hedging instruments Autodesk uses foreign currency contracts that are not designated as hedging instruments to reduce the exchange rate risk associated primarily with foreign currency denominated receivables and payables. These forward contracts are marked-to-market at the end of each fiscal quarter with gains and losses recognized as “ Interest and other expense, net .” These derivative instruments do not subject the Company to material balance sheet risk due to exchange rate movements because gains and losses on these derivative instruments are intended to offset the gains or losses resulting from the settlement of the underlying foreign currency denominated receivables and payables. The net notional amounts of these foreign currency contracts are presented net settled and were $88.7 million at July 31, 2016 and $231.6 million at January 31, 2016 . In addition to these foreign currency contracts, Autodesk holds derivative instruments issued by privately held companies, which are not designated as hedging instruments. These derivatives consist of certain conversion options on the convertible debt securities held by Autodesk and an option to acquire a privately held company. These derivatives are recorded at fair value as of each balance sheet date and are recorded in “ Other assets .” Changes in the fair values of these instruments are recognized in income as “ Interest and other expense, net .” Fair Value of Derivative Instruments The fair values of derivative instruments in Autodesk’s Condensed Consolidated Balance Sheets were as follows as of July 31, 2016 and January 31, 2016 : Balance Sheet Location Fair Value at July 31, 2016 January 31, 2016 Derivative Assets Foreign currency contracts designated as cash flow hedges Prepaid expenses and other current assets $ 6.7 $ 3.4 Derivatives not designated as hedging instruments Prepaid expenses and other current assets and Other assets 1.8 4.9 Total derivative assets $ 8.5 $ 8.3 Derivative Liabilities Foreign currency contracts designated as cash flow hedges Other accrued liabilities $ 8.0 $ 3.4 Derivatives not designated as hedging instruments Other accrued liabilities 1.0 3.0 Total derivative liabilities $ 9.0 $ 6.4 The effects of derivatives designated as hedging instruments on Autodesk’s Condensed Consolidated Statements of Operations were as follows for the three and six months ended July 31, 2016 and 2015 (amounts presented include any income tax effects): Foreign Currency Contracts Foreign Currency Contracts Three Months Ended July 31, Six Months Ended July 31, 2016 2015 2016 2015 Amount o f gain (loss) rec ognized in accumulated other comprehensive income on derivatives (effective portion) $ 1.5 $ 4.4 $ (4.9 ) $ 6.7 Amount and location of gain (loss) reclassified from accumulated other comprehensive income into income (effective portion) Net revenue $ 2.5 $ 11.3 $ 7.4 $ 22.3 Operating expenses 0.5 (2.2 ) (1.3 ) (5.5 ) Total $ 3.0 $ 9.1 $ 6.1 $ 16.8 Amount and location of loss recognized in income on derivatives (ineffective portion and amount excluded from effectiveness testing) Interest and other expense, net $ (0.2 ) $ (0.2 ) $ (0.4 ) $ (0.3 ) The effects of derivatives not designated as hedging instruments on Autodesk’s Condensed Consolidated Statements of Operations were as follows for the three and six months ended July 31, 2016 and 2015 (amounts presented include any income tax effects): Three Months Ended July 31, Six Months Ended July 31, 2016 2015 2016 2015 Amount and location of (loss) gain recognized in income on derivatives Interest and other expense, net $ (3.9 ) $ 2.1 $ (10.9 ) $ 0.7 |
Stock-based Compensation Expens
Stock-based Compensation Expense | 6 Months Ended |
Jul. 31, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock-based Compensation Expense | Stock-based Compensation Expense Restricted Stock Units: A summary of restricted stock unit activity for the six months ended July 31, 2016 is as follows: Unvested Restricted Stock Units Weighted average grant date fair value per share (in thousands) Unvested restricted stock units at January 31, 2016 7,739.6 $ 51.80 Granted 1,538.8 57.60 Vested (1,008.0 ) 56.00 Canceled/Forfeited (475.7 ) 51.70 Performance Adjustment (1) (29.7 ) 63.81 Unvested restricted stock units at July 31, 2016 7,765.0 $ 52.66 _______________ (1) Based on Autodesk's financial results and relative total stockholder return for the fiscal 2016 performance period. The performance stock units were attained at rates ranging from 86.1% to 98.0% of the target award. The fair value of the shares vested during the six months ended July 31, 2016 and 2015 was $57.2 million and $93.4 million , respectively. During the six months ended July 31, 2016 , Autodesk granted 1.1 million restricted stock units. Autodesk recorded stock-based compensation expense related to restricted stock units of $41.5 million and $28.0 million during the three months ended July 31, 2016 and 2015 , respectively. Autodesk recorded stock-based compensation expense related to restricted stock units of $80.3 million and $65.8 million during the six months ended July 31, 2016 and 2015 , respectively. During the six months ended July 31, 2016 , Autodesk granted 0.4 million performance stock units (“PSUs”) for which the ultimate number of shares earned is determined based on the achievement of performance criteria at the end of the stated service and performance period. The performance criteria for these grants are based upon net new model subscription additions, new model Annualized Recurring Revenue ("ARR"), non-GAAP total spend, and total subscription renewal rate goals ("FY17 performance criteria") adopted by the Compensation and Human Resource Committee, as well as total stockholder return compared against companies in the S&P Computer Software Select Index (“Relative TSR”). Each PSU covers a three -year period: • Up to one third of the PSUs may vest following year one, depending upon the achievement of the FY17 performance criteria as well as 1-year Relative TSR (covering year one). • Up to one third of the PSUs 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 PSUs 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). PSUs are not considered outstanding stock at the time of grant, as the holders of these units are not entitled to any of the rights of a stockholder, including voting rights. Autodesk has determined the grant date fair value for these awards using a Monte Carlo simulation model since the awards are also subject to a market condition. The fair value of the PSUs is expensed using the accelerated attribution over the vesting period. Autodesk recorded stock-based compensation expense related to PSUs of $5.9 million for both the three months ended July 31, 2016 and 2015 . Autodesk recorded stock-based compensation expense related to PSUs of $12.2 million and $11.5 million for the six months ended July 31, 2016 and 2015 , respectively. 1998 Employee Qualified Stock Purchase Plan (“ESPP”) Under Autodesk’s ESPP, which was approved by stockholders in 1998, eligible employees may purchase shares of Autodesk’s common stock at their discretion using up to 15% of their eligible compensation, subject to certain limitations, at 85% of the lower of Autodesk's closing price (fair market value) on the offering date or the exercise date. The offering period for ESPP awards consists of four , six -month exercise periods within a 24 -month offering period. Autodesk issued 1.2 million and 1.1 million shares under the ESPP during the six months ended July 31, 2016 and 2015 , respectively, with an average price of $36.67 and $36.91 per share, respectively. The weighted average grant date fair value of awards granted under the ESPP was $17.88 and $15.99 during the six months ended July 31, 2016 and 2015 , respectively, calculated as of the award grant date using the Black-Scholes Merton (“BSM") option pricing model. Stock-based Compensation Expense The following table summarizes stock-based compensation expense for the three and six months ended July 31, 2016 and 2015 , respectively, as follows: Three Months Ended July 31, 2016 2015 Cost of subscription $ 1.7 $ 1.2 Cost of license and other revenue 1.7 1.2 Marketing and sales 23.3 17.3 Research and development 20.2 14.8 General and administrative 7.4 6.2 Stock-based compensation expense related to stock awards and ESPP purchases 54.3 40.7 Tax benefit — (10.5 ) Stock-based compensation expense related to stock awards and ESPP purchases, net of tax $ 54.3 $ 30.2 Six Months Ended July 31, 2016 2015 Cost of subscription $ 3.5 $ 2.6 Cost of license and other revenue 3.3 2.7 Marketing and sales 44.8 39.0 Research and development 39.1 32.4 General and administrative 15.2 14.2 Stock-based compensation expense related to stock awards and ESPP purchases 105.9 90.9 Tax benefit — (24.5 ) Stock-based compensation expense related to stock awards and ESPP purchases, net of tax $ 105.9 $ 66.4 Stock-based Compensation Expense Assumptions Autodesk determines the grant date fair value of its share-based payment awards using a BSM option pricing model or the quoted stock price on the date of grant, unless the awards are subject to market conditions, in which case Autodesk uses a binomial-lattice model (e.g., Monte Carlo simulation model). The Monte Carlo simulation model utilizes multiple input variables to estimate the probability that market conditions will be achieved. Autodesk uses the following assumptions to estimate the fair value of stock-based awards: Six Months Ended July 31, 2016 Six Months Ended July 31, 2015 Performance Stock Unit ESPP Performance Stock Unit ESPP Range of expected volatilities 38.4 - 38.6% 35.0 - 40.2% 27.3% 27.7 - 28.2% Range of expected lives (in years) N/A 0.5 - 2.0 N/A 0.5 - 2.0 Expected dividends —% —% —% —% Range of risk-free interest rates 0.6 - 0.7% 0.5 - 0.9% 0.2% 0.1 - 0.6% Autodesk estimates expected volatility for stock-based awards based on the average of the following two measures: (1) a measure of historical volatility in the trading market for the Company’s common stock, and (2) the implied volatility of traded forward call options to purchase shares of the Company’s common stock. The expected volatility for PSUs subject to market conditions includes the expected volatility of Autodesk's peer companies within the S&P Computer Software Select Index. The range of expected lives of ESPP awards are based upon the four, six-month exercise periods within a 24-month offering period. Autodesk does not currently pay, and does not anticipate paying in the foreseeable future, any cash dividends. Consequently, an expected dividend yield of zero is used in the BSM option pricing model and the Monte Carlo simulation model. The risk-free interest rate used in the BSM option pricing model and the Monte Carlo simulation model for stock-based awards is the historical yield on U.S. Treasury securities with equivalent remaining lives. Autodesk recognizes expense only for the stock-based awards that ultimately vest. As permitted by ASU 2016-09, Autodesk has elected to account for forfeitures of our stock-based awards as those forfeitures occur. |
Income Tax
Income Tax | 6 Months Ended |
Jul. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Income Tax | Income Tax Autodesk's income tax expense was $ 25.2 million and $ 269.5 million for the three months ended July 31, 2016 and 2015 , respectively, relative to a pre-tax loss of $ 73.0 million and pre-tax income of $ 0.9 million , respectively, for the same periods. Autodesk's income tax expense was $ 39.6 million and $ 272.2 million for the six months ended July 31, 2016 and 2015 , respectively, relative to a pre-tax loss of $ 226.3 million and pre-tax income of $ 22.7 million , respectively, for the same periods. The decrease in income tax expense was primarily due to the valuation allowance that was established during the three months ended July 31, 2015 . Income tax expense consists primarily of foreign taxes and U.S. tax expense related to indefinite-lived intangibles. Autodesk regularly assesses the need for a valuation allowance against its deferred tax assets. In making that assessment, Autodesk considers both positive and negative evidence related to the likelihood of realization of the deferred tax assets to determine, based on the weight of available evidence, whether it is more likely than not that some or all of the deferred tax assets will not be realized. In evaluating the need for a valuation allowance, Autodesk considered cumulative losses in the United States arising from the Company's business model transition as a significant piece of negative evidence and established a valuation allowance against the Company’s deferred tax assets in the three months ended July 31, 2015. Subsequently, Autodesk determined that it had understated income tax expense by $33.1 million for the three and six months ended July 31, 2015, primarily related to an error in the establishment of the valuation allowance, which had been understated at July 31, 2015. Autodesk evaluated the materiality of the error, quantitatively and qualitatively, and concluded it was not material to the Company’s condensed consolidated financial statements for the quarter ended July 31, 2015 but chose to correct the error by revising the previously reported results for the three and six months ended July 31, 2015. The following table summarizes the impact of adjusting the condensed consolidated income statement balances presented for the three and six months ended July 31, 2015: As previously reported As adjusted (In millions, except per share data) Three Months Ended July 31, 2015 Adjustment Three Months Ended July 31, 2015 Provision for income tax $ (236.4 ) $ (33.1 ) $ (269.5 ) Net loss (235.5 ) (33.1 ) (268.6 ) Basic and diluted net loss per share $ (1.04 ) $ (0.14 ) $ (1.18 ) Six Months Ended July 31, 2015 Adjustment Six Months Ended July 31, 2015 Provision for income tax $ (239.1 ) $ (33.1 ) $ (272.2 ) Net loss (216.4 ) (33.1 ) (249.5 ) Basic and diluted net loss per share $ (0.95 ) $ (0.15 ) $ (1.10 ) The following table summarizes the impact of adjusting the Condensed Consolidated Balance Sheet balances as of July 31, 2015: As previously reported As adjusted (In millions) July 31, 2015 Adjustment July 31, 2015 Current deferred tax liabilities (1) $ 8.3 $ 1.2 $ 9.5 Accrued income taxes 52.3 (29.4 ) 22.9 Long-term deferred tax liabilities 28.9 25.1 54.0 Long-term income tax payable 124.0 36.2 160.2 Retained earnings $ 164.4 $ (33.1 ) $ 131.3 _______________ (1) Included in " Other accrued liabilities " in the accompanying Condensed Consolidated Balance Sheets. As of July 31, 2016 , the Company had $261.6 million of gross unrecognized tax benefits, excluding interest, of which approximately $246.9 million represents the amount of unrecognized tax benefits that would impact the effective tax rate, if recognized. However, this rate impact would be offset to the extent that recognition of unrecognized tax benefits currently presented as a reduction of deferred tax assets would increase the valuation allowance. It is possible that the amount of unrecognized tax benefits will change in the next twelve months; however, an estimate of the range of the possible change cannot be made at this time. During the three months ended July 31, 2016, the Company proposed a settlement of a tax audit in China covering certain transfer pricing matters from 2004-2013. The settlement is currently under review by the State Administration of Taxation. The estimated tax liability, including interest, is approximately $11.4 million for the years under audit and calendar years 2014 and 2015. The Company accrued this tax liability during the three months ended July 31, 2016. The Internal Revenue Service has notified the Company that it intends to begin an examination of the Company's U.S. consolidated federal income tax returns for fiscal years 2014 and 2015. While it is possible that the Company's tax positions may be challenged, the Company believes its positions are consistent with the tax law, and the balance sheet reflects appropriate liabilities for uncertain federal tax positions for the years to be examined. |
Acquisitions
Acquisitions | 6 Months Ended |
Jul. 31, 2016 | |
Business Combinations [Abstract] | |
Acquisitions | Acquisitions During the six months ended July 31, 2016 , Autodesk completed several business combinations and technology acquisitions for total cash consideration of approximately $ 87.0 million . Pro forma results of operations have not been presented because the effects of the acquisitions, individually and in the aggregate, were not material to Autodesk’s Condensed Consolidated Financial Statements . For acquisitions accounted for as business combinations, Autodesk recorded the tangible and intangible assets acquired and liabilities assumed based on their estimated fair values at the date of acquisition. The fair values assigned to the identifiable intangible assets acquired were based on estimates and assumptions determined by management. Autodesk recorded the excess of consideration transferred over the aggregate fair values as goodwill. The goodwill recorded is primarily attributable to synergies expected to arise after the acquisitions. The following table summarizes the fair value of the assets acquired and liabilities assumed by major class for the business combinations and technology acquisitions completed during the six months ended July 31, 2016 : July 31, 2016 Developed technologies $ 18.8 Customer relationships and other non-current intangible assets 10.2 Trade name 3.8 Goodwill 62.8 Deferred revenue (current and non-current) (2.1 ) Deferred tax liability (7.1 ) Net tangible assets 0.6 Total $ 87.0 For certain business combinations, the allocation of purchase price consideration to certain assets and liabilities is not yet finalized. For the items not yet finalized, Autodesk's estimates and assumptions are subject to change within the measurement period (up to one year from the acquisition date). The primary areas of the preliminary purchase price allocation that are not yet finalized are amounts for tax assets and liabilities, pending finalization of estimates and assumptions in respect of certain tax aspects of the transaction and residual goodwill, and the valuation of certain intangible assets. |
Other Intangible Assets, Net
Other Intangible Assets, Net | 6 Months Ended |
Jul. 31, 2016 | |
Finite-Lived Intangible Assets, Net [Abstract] | |
Other Intangible Assets, Net | Other Intangible Assets, Net Other intangible assets including developed technologies, customer relationships, trade names, patents, user lists and the related accumulated amortization were as follows: July 31, 2016 January 31, 2016 Developed technologies, at cost $ 587.6 $ 571.4 Customer relationships, trade names, patents, and user lists, at cost (1) 384.8 371.6 Other intangible assets, at cost (2) 972.4 943.0 Less: Accumulated amortization (832.3 ) (796.2 ) Other intangible assets, net $ 140.1 $ 146.8 _______________ (1) Included in “Other assets” in the accompanying Condensed Consolidated Balance Sheets. (2) Includes the effects of foreign currency translation. |
Goodwill
Goodwill | 6 Months Ended |
Jul. 31, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill | Goodwill The change in the carrying amount of goodwill by reportable segment during the six months ended July 31, 2016 is as follows: Platform Solutions and Emerging Business Architecture, Engineering and Construction Manufacturing Media and Entertainment Total Balances as of January 31, 2016 Goodwill $ 386.9 $ 427.2 $ 613.9 $ 256.2 $ 1,684.2 Accumulated impairment losses — — — (149.2 ) (149.2 ) 386.9 427.2 613.9 107.0 1,535.0 Addition arising from other acquisitions 17.4 — 13.6 31.8 62.8 Effect of foreign currency translation, purchase accounting adjustments, and other 0.7 2.0 (3.5 ) 0.4 (0.4 ) Balances as of July 31, 2016 Goodwill 405.0 429.2 624.0 288.4 1,746.6 Accumulated impairment losses — — — (149.2 ) (149.2 ) $ 405.0 $ 429.2 $ 624.0 $ 139.2 $ 1,597.4 Goodwill consists of the excess of consideration transferred over the fair value of net assets acquired in business combinations. Autodesk assigns goodwill to the reporting unit associated with each business combination, and tests goodwill for impairment annually in its fourth fiscal quarter or more often if circumstances indicate a potential impairment. The company has established reporting units based upon its current reporting structure. When goodwill is assessed for impairment, Autodesk has the option to perform an assessment of qualitative factors of impairment (“optional assessment”) prior to necessitating a two-step quantitative impairment test. Should the optional assessment be used for any given fiscal year, qualitative factors to consider include cost factors; financial performance; legal, regulatory, contractual, political, business, or other factors; entity specific factors; industry and market considerations, macroeconomic conditions, and other relevant events and factors affecting the reporting unit. If, after assessing the totality of events or circumstances, it is more likely than not that the fair value of the reporting unit is greater than its carrying value, then performing the two-step impairment test is unnecessary. Therefore, the two-step quantitative impairment test is necessary when either Autodesk does not use the optional assessment or, as a result of the optional assessment, it is not more likely than not that the fair value of the reporting unit is greater than its carrying value. In performing the two-step impairment test, Autodesk uses discounted cash flow models which include assumptions regarding projected cash flows. Variances in these assumptions could have a significant impact on Autodesk's conclusion as to whether goodwill is impaired, or the amount of any impairment charge. Impairment charges, if any, result from instances where the fair values of net assets associated with goodwill are less than their carrying values. As changes in business conditions and assumptions occur, Autodesk may be required to record impairment charges. The process of evaluating the potential impairment of goodwill is subjective and requires significant judgment at many points during the analysis. The value of Autodesk’s goodwill could also be impacted by future adverse changes such as: (i) declines in Autodesk’s actual financial results, (ii) a sustained decline in Autodesk’s market capitalization, (iii) significant slowdown in the worldwide economy or the industries Autodesk serves, or (iv) changes in Autodesk’s business strategy or internal financial results forecasts. |
Deferred Compensation
Deferred Compensation | 6 Months Ended |
Jul. 31, 2016 | |
Deferred Compensation Arrangements [Abstract] | |
Deferred Compensation | Deferred Compensation At July 31, 2016 , Autodesk had marketable securities totaling $1.1 billion , of which $45.6 million related to investments in debt and equity securities that are held in a rabbi trust under non-qualified deferred compensation plans. The total related deferred compensation liability was $45.6 million at July 31, 2016 , of which $ 2.1 million was classified as current and $43.5 million was classified as non-current liabilities. The total related deferred compensation liability at January 31, 2016 was $38.0 million , of which $1.9 million was classified as current and $36.1 million was classified as non-current liabilities. The securities are recorded in the Condensed Consolidated Balance Sheets under the current portion of "Marketable securities." The current and non-current portions of the liability are recorded in the Condensed Consolidated Balance Sheets under “Accrued compensation” and “Other liabilities,” respectively. |
Computer Equipment, Software, F
Computer Equipment, Software, Furniture and Leasehold Improvements, Net | 6 Months Ended |
Jul. 31, 2016 | |
Property, Plant and Equipment [Abstract] | |
Computer Equipment, Software, Furniture and Leasehold Improvements, Net | Computer Equipment, Software, Furniture and Leasehold Improvements, Net Computer equipment, software, furniture, leasehold improvements and the related accumulated depreciation were as follows: July 31, 2016 January 31, 2016 Computer hardware, at cost $ 211.3 $ 202.7 Computer software, at cost 94.2 85.6 Leasehold improvements, land and buildings, at cost 202.1 202.9 Furniture and equipment, at cost 59.0 59.0 566.6 550.2 Less: Accumulated depreciation (393.6 ) (380.9 ) Computer software, hardware, leasehold improvements, furniture and equipment, net $ 173.0 $ 169.3 |
Borrowing Arrangements
Borrowing Arrangements | 6 Months Ended |
Jul. 31, 2016 | |
Line of Credit Facility [Abstract] | |
Borrowing Arrangements | Borrowing Arrangements In June 2015, Autodesk issued $ 450.0 million aggregate principal amount of 3.125% notes due June 15, 2020 and $ 300.0 million aggregate principal amount of 4.375% notes due June 15, 2025 (collectively, the “2015 Notes”). Net of a discount of $ 1.7 million and issuance costs of $ 6.3 million , Autodesk received net proceeds of $ 742.0 million from issuance of the 2015 Notes. Both the discount and issuance costs are being amortized to interest expense over the respective terms of the 2015 Notes using the effective interest method. The proceeds of the 2015 Notes are available for general corporate purposes. Autodesk may redeem the 2015 Notes at any time, subject to a make whole premium. In addition, upon the occurrence of certain change of control triggering events, Autodesk may be required to repurchase the 2015 Notes at a price equal to 101% of their principal amount, plus accrued and unpaid interest to the date of repurchase. The 2015 Notes contain restrictive covenants that limit Autodesk's ability to create certain liens, to enter into certain sale and leaseback transactions and to consolidate or merge with, or convey, transfer or lease all or substantially all of its assets, subject to important qualifications and exceptions. Based on quoted market prices, the fair value of the 2015 Notes was approximately $ 791.8 million as of July 31, 2016 . In December 2012, Autodesk issued $ 400.0 million aggregate principal amount of 1.95% notes due December 15, 2017 and $ 350.0 million aggregate principal amount of 3.6% notes due December 15, 2022 (collectively, the “2012 Notes”). Autodesk received net proceeds of $ 739.3 million from issuance of the 2012 Notes, net of a discount of $ 4.5 million and issuance costs of $ 6.1 million . Both the discount and issuance costs are being amortized to interest expense over the respective terms of the 2012 Notes using the effective interest method. The proceeds of the 2012 Notes are available for general corporate purposes. Autodesk may redeem the 2012 Notes at any time, subject to a make whole premium. In addition, upon the occurrence of certain change of control triggering events, Autodesk may be required to repurchase the 2012 Notes at a price equal to 101% of their principal amount, plus accrued and unpaid interest to the date of repurchase. The 2012 Notes contain restrictive covenants that limit Autodesk's ability to create certain liens, to enter into certain sale and leaseback transactions and to consolidate or merge with, or convey, transfer or lease all or substantially all of its assets, subject to important qualifications and exceptions. Based on quoted market prices, the fair value of the 2012 Notes was approximately $ 763.1 million as of July 31, 2016 . Autodesk’s line of credit facility permits unsecured short-term borrowings of up to $400.0 million , with an option to request an increase in the amount of the credit facility by up to an additional $100.0 million , and is available for working capital or other business needs. This credit agreement contains customary covenants that could restrict the imposition of liens on Autodesk’s assets, and restrict the Company’s ability to incur additional indebtedness or make dispositions of assets if Autodesk fails to maintain the financial covenants. The financial covenants consist of a leverage ratio, and an interest coverage ratio. The line of credit is syndicated with various financial institutions, including Citibank, N.A., an affiliate of Citigroup, which is one of the lead lenders and an agent. The maturity date on the line of credit is May 2020 . At July 31, 2016 , Autodesk was in compliance with the credit facility's covenants and had no outstanding borrowings on this line of credit. |
Restructuring
Restructuring | 6 Months Ended |
Jul. 31, 2016 | |
Restructuring and Related Activities [Abstract] | |
Restructuring | Restructuring charges and other facility exit costs, net In February 2016, the Board of Directors approved a world-wide restructuring plan (“Fiscal 2017 Plan”) in order to re-balance staffing levels and reduce operating expenses to better align them with the evolving needs of the business. The Company's Fiscal 2017 Plan consist of employee termination benefits related to the reduction of its workforce with expected costs of approximately $69.0 million , and lease terminations and other exit costs expected to be approximately $10.0 million . During the three and six months ended July 31, 2016 , restructuring charges under the Fiscal 2017 Plan included $8.0 million and $55.7 million in employee termination benefits, respectively, and $0.6 million and $5.2 million in other facility exit costs, respectively. Additionally, during the three and six months ended July 31, 2016 , we incurred $7.4 million in lease termination costs not related to the Fiscal 2017 Plan. Other costs primarily consist of legal, consulting, and other costs related to employee terminations and are expensed when incurred. The Company expects to pay substantially all of the employee termination benefits and facility related liabilities under the Fiscal 2017 Plan by the end of fiscal 2017 . The following table sets forth the restructuring charges and other facility exit costs during the six months ended July 31, 2016 : Balance at January 31, 2016 Additions Payments Adjustments (1) Balance at July 31, 2016 Fiscal 2017 Plan Employee termination costs $ — $ 55.7 $ (48.4 ) $ — $ 7.3 Lease termination and other exit costs — 5.2 (2.1 ) (1.9 ) 1.2 Other Lease Termination Costs Lease termination costs — 7.4 (0.2 ) (3.5 ) 3.7 Total $ — $ 68.3 $ (50.7 ) $ (5.4 ) $ 12.2 Current portion (2) $ — $ 10.3 Non-current portion (2) — 1.9 Total $ — $ 12.2 ____________________ (1) Adjustments include the impact of computer equipment, software, furniture, straight-line rent and leasehold improvement write-offs, and foreign currency translation. (2) The current and non-current portions of the reserve are recorded in the Condensed Consolidated Balance Sheets under “ Other accrued liabilities ” and “ Other liabilities ,” respectively. |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Jul. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Guarantees and Indemnifications In the normal course of business, Autodesk provides indemnifications of varying scopes, including limited product warranties and indemnification of customers against claims of intellectual property infringement made by third parties arising from the use of its products or services. Autodesk accrues for known indemnification issues if a loss is probable and can be reasonably estimated. Historically, costs related to these indemnifications have not been significant, and because potential future costs are highly variable, Autodesk is unable to estimate the maximum potential impact of these indemnifications on its future results of operations. In connection with the purchase, sale or license of assets or businesses with third parties, Autodesk has entered into or assumed customary indemnification agreements related to the assets or businesses purchased, sold or licensed. Historically, costs related to these indemnifications have not been significant, and because potential future costs are highly variable, Autodesk is unable to estimate the maximum potential impact of these indemnifications on its future results of operations. As permitted under Delaware law, Autodesk has agreements whereby it indemnifies its officers and directors for certain events or occurrences while the officer or director is, or was, serving at Autodesk’s request in such capacity. The maximum potential amount of future payments Autodesk could be required to make under these indemnification agreements is unlimited; however, Autodesk has directors’ and officers’ liability insurance coverage that is intended to reduce its financial exposure and may enable Autodesk to recover a portion of any future amounts paid. Autodesk believes the estimated fair value of these indemnification agreements in excess of applicable insurance coverage is minimal. Legal Proceedings Autodesk is involved in a variety of claims, suits, investigations and proceedings in the normal course of business activities including claims of alleged infringement of intellectual property rights, commercial, employment, piracy prosecution, business practices and other matters. In the Company’s opinion, resolution of pending matters is not expected to have a material adverse impact on its consolidated results of operations, cash flows or its financial position. Given the unpredictable nature of legal proceedings, there is a reasonable possibility that an unfavorable resolution of one or more such proceedings could in the future materially affect the Company’s results of operations, cash flows or financial position in a particular period, however, based on the information known by the Company as of the date of this filing and the rules and regulations applicable to the preparation of the Company’s financial statements, any such amount is either immaterial or it is not possible to provide an estimated amount of any such potential loss. |
Common Stock Repurchase Program
Common Stock Repurchase Program | 6 Months Ended |
Jul. 31, 2016 | |
Class of Stock Disclosures [Abstract] | |
Common Stock Repurchase Program | Common Stock Repurchase Program Autodesk has a stock repurchase program that is used to offset dilution from the issuance of stock under the Company’s employee stock plans and for such other purposes as may be in the interests of Autodesk and its stockholders. Stock repurchases have the effect of returning excess cash generated from the Company’s business to stockholders. During the three and six months ended July 31, 2016 , Autodesk repurchased and retired 3.0 million and 4.8 million shares at an average repurchase price of $55.88 and $56.20 per share, respectively. Common stock and additional paid-in capital and retained earnings were reduced by $65.8 million and $104.1 million , respectively, during the three months ended July 31, 2016 . Common stock and additional paid-in capital and retained earnings were reduced by $111.5 million and $158.5 million , respectively, during the six months ended July 31, 2016 . At July 31, 2016 , 1.5 million shares remained available for repurchase under the repurchase program approved by the Board of Directors. During the six months ended July 31, 2016 , Autodesk repurchased its common stock through open market purchases. The number of shares acquired and the timing of the purchases are based on several factors, including general market and economic conditions, the number of employee stock option exercises and stock issuances, the trading price of Autodesk common stock, cash on hand and available in the United States, cash requirements for acquisitions, and Company defined trading windows. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Loss | 6 Months Ended |
Jul. 31, 2016 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Accumulated Other Comprehensive Loss | Accumulated Other Comprehensive Loss Accumulated other comprehensive loss , net of taxes, consisted of the following at July 31, 2016 : 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 (loss) income before reclassifications (4.1 ) 4.5 (0.2 ) (1.4 ) (1.2 ) Pre-tax (gains) losses reclassified from accumulated other comprehensive loss (6.1 ) (0.5 ) 0.7 — (5.9 ) Tax effects (0.8 ) (0.6 ) (0.2 ) — (1.6 ) Net current period other comprehensive (loss) income (11.0 ) 3.4 0.3 (1.4 ) (8.7 ) Balances, July 31, 2016 $ 4.7 $ 3.6 $ (28.0 ) $ (110.1 ) $ (129.8 ) Reclassifications related to gains and losses on available-for-sale securities are included in " Interest and other expense, net ." Refer to "Note 4 : Financial Instruments " for the amount and location of reclassifications related to derivative instruments. Reclassifications of the defined benefit pension components are included in the computation of net periodic benefit cost. For further information, see the "Retirement Benefit Plans" note in Part II, Item 8 of our Annual Report on Form 10-K for the fiscal year ended January 31, 2016 . |
Net (Loss) Income Per Share
Net (Loss) Income Per Share | 6 Months Ended |
Jul. 31, 2016 | |
Earnings Per Share [Abstract] | |
Net (Loss) Income Per Share | Net Loss Per Share Basic net loss per share is computed using the weighted average number of shares of common stock outstanding for the period, excluding stock options and restricted stock units. Diluted net loss per share is based upon the weighted average number of shares of common stock outstanding for the period and potentially dilutive common shares, including the effect of stock options and restricted stock units under the treasury stock method. The following table sets forth the computation of the numerators and denominators used in the basic and diluted net loss per share amounts: Three Months Ended July 31, Six Months Ended July 31, 2016 2015 2016 2015 Numerator: Net loss $ (98.2 ) $ (268.6 ) $ (265.9 ) $ (249.5 ) Denominator: Denominator for basic net loss per share—weighted average shares 223.2 227.0 223.8 227.1 Effect of dilutive securities (1) — — — — Denominator for dilutive net loss per share 223.2 227.0 223.8 227.1 Basic net loss per share $ (0.44 ) $ (1.18 ) (1.19 ) (1.10 ) Diluted net loss per share $ (0.44 ) $ (1.18 ) (1.19 ) (1.10 ) ____________________ (1) The effect of dilutive securities of 4.2 million shares and 4.1 million shares for the three months ended July 31, 2016 and 2015 , 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 periods. The effect of dilutive securities of 4.0 million and 4.5 million shares for the six months ended July 31, 2016 and 2015 , 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 periods. The computation of diluted net loss per share does not include shares that are anti-dilutive under the treasury stock method because their exercise prices are higher than the average market value of Autodesk’s stock during the period. For the three months ended July 31, 2016 , no potentially anti-dilutive shares were excluded from the computation of diluted net loss per share. For the three months ended July 31, 2015 , 0.6 million potentially anti-dilutive shares were excluded from the computation of diluted net loss per share. For both the six months ended July 31, 2016 and 2015 , 0.1 million potentially anti-dilutive shares were excluded from the computation of diluted net loss per share, respectively. |
Segments
Segments | 6 Months Ended |
Jul. 31, 2016 | |
Segment Reporting [Abstract] | |
Segments | Segments Autodesk reports segment information based on the “management” approach. The management approach designates the internal reporting used by management for making decisions and assessing performance as the source of the Company’s reportable segments. Autodesk has four reportable segments: AEC, Manufacturing ("MFG"), Platform Solutions and Emerging Business ("PSEB"), and Media and Entertainment ("M&E"). Autodesk has no material inter-segment revenue. The AEC, MFG, and PSEB segments derive revenue from the sale of licenses for software products and services to customers who design, build, manage or own building, manufacturing and infrastructure projects. Autodesk's M&E segment derives revenue from the sale of products to creative professionals, post-production facilities and broadcasters for a variety of applications, including feature films, television programs, commercials, music and corporate videos, interactive game production, web design and interactive web streaming. AEC software products help to improve the way building, civil infrastructure, process plant and construction projects are designed, built and managed. A broad portfolio of solutions enables greater efficiency, accuracy and sustainability across the entire project lifecycle. Autodesk AEC solutions include advanced technology for Building Information Modeling ("BIM"), AutoCAD-based design and documentation productivity software, sustainable design analysis applications, and collaborative project management solutions. BIM, an integrated process for building and infrastructure design, analysis, documentation and construction, uses consistent, coordinated information to improve communication and collaboration between the extended project team. AEC provides a comprehensive portfolio of BIM solutions that help customers deliver projects faster and more economically, while minimizing environmental impact. AEC’s revenue primarily includes revenue from the sales of licenses of Autodesk Building Design Suites, Autodesk Infrastructure Design Suites, AutoCAD Civil 3D, AutoCAD Map 3D, and AutoCAD Architecture. MFG provides the manufacturers in automotive and transportation, industrial machinery, consumer products and building products with comprehensive digital prototyping solutions that bring together design data from all phases of the product development process to develop a single digital model created in Autodesk Inventor software. Autodesk’s solutions for digital prototyping enable a broad group of manufacturers to realize benefits with minimal disruption to existing workflows. MFG’s revenue primarily includes revenue from the sales of licenses of Autodesk Product Design Suites, Autodesk Delcam products, AutoCAD Mechanical, and Autodesk Moldflow products. PSEB includes Autodesk’s design product, AutoCAD. Autodesk’s AutoCAD product is a platform product that underpins the Company’s design product offerings for the industries it serves. For example, AEC and MFG offer tailored versions of AutoCAD software for the industries they serve. Autodesk’s AutoCAD product also provides a platform for Autodesk’s developer partners to build custom solutions for a range of diverse design-oriented markets. PSEB's revenue primarily includes revenue from sales of AutoCAD and AutoCAD LT, the AutoCAD Design Suite and many other design products, including consumer design products, as well as from sales of licenses of other Autodesk's design products. M&E provides content creators in film, television, commercials, video games, design visualization and VR the tools needed to connect artists together so they can create the world’s most engaging visual content. M&E products run on the desktop, on mobile devices, and in the cloud and cover a broad range of capabilities including conceptualization, modeling, animation, visual effects, collaboration, authoring, and rendering. Key products include Maya and 3ds Max, which are used extensively for 3D modeling and animation in the world’s most famous movies, TV shows, and video games; Flame, for visual effects, finishing and color grading in commercials, film & television; MotionBuilder, for 3D character animation software in virtual production; Stingray, a real-time 3D game engine for creating video games, interactive & immersive experiences; Shotgun, a cloud platform for enabling collaboration and production management; Sketchbook & Graphic for concept design and illustration; and Arnold rendering software that offers advanced, efficient, high-quality rendering capabilities that are scalable to the cloud. All of Autodesk’s reportable segments distribute their respective products primarily through authorized resellers and distributors and, to a lesser extent, through direct sales to end-users. The accounting policies of the reportable segments are the same as those described in Note 1, “Business and Summary of Significant Accounting Policies” of Autodesk's Annual Report on Form 10-K for the fiscal year ended January 31, 2016 . Autodesk evaluates each segment’s performance on the basis of gross profit. Autodesk currently does not separately accumulate and report asset information by segment, except for goodwill, which is disclosed in Note 9 , “ Goodwill .” Information concerning the operations of Autodesk’s reportable segments is as follows: Three Months Ended July 31, Six Months Ended July 31, 2016 2015 2016 2015 Net revenue: Architecture, Engineering and Construction $ 253.2 $ 233.4 $ 472.1 $ 470.1 Manufacturing 176.9 171.2 334.9 355.8 Platform Solutions and Emerging Business 86.2 164.1 186.2 349.4 Media and Entertainment 34.4 40.8 69.4 80.7 $ 550.7 $ 609.5 $ 1,062.6 $ 1,256.0 Gross profit: Architecture, Engineering and Construction $ 229.1 $ 209.5 $ 422.7 $ 426.5 Manufacturing 156.4 151.2 292.5 309.3 Platform Solutions and Emerging Business 65.5 138.5 141.6 301.8 Media and Entertainment 28.7 31.7 56.7 64.4 Unallocated (1) (14.1 ) (14.4 ) (28.4 ) (30.8 ) $ 465.6 $ 516.5 $ 885.1 $ 1,071.2 _______________ (1) Unallocated amounts primarily relate to corporate expenses and other costs and expenses that are managed outside the reportable segments, including stock-based compensation expense. Information regarding Autodesk’s operations by geographic area is as follows: Three Months Ended July 31, Six Months Ended July 31, 2016 2015 2016 2015 Net revenue: Americas U.S. $ 195.2 $ 194.5 $ 379.9 $ 394.1 Other Americas 34.9 41.2 67.9 85.6 Total Americas 230.1 235.7 447.8 479.7 Europe, Middle East and Africa 220.5 225.7 423.1 471.1 Asia Pacific Japan 36.8 50.7 74.1 115.8 Other Asia Pacific 63.3 97.4 117.6 189.4 Total Asia Pacific 100.1 148.1 191.7 305.2 Total net revenue $ 550.7 $ 609.5 $ 1,062.6 $ 1,256.0 |
Basis of Presentation (Policies
Basis of Presentation (Policies) | 6 Months Ended |
Jul. 31, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | The accompanying unaudited Condensed Consolidated Financial Statements of Autodesk, Inc. (“Autodesk,” “we,” “us,” “our,” or the “Company”) as of July 31, 2016 , and for the three and six months ended July 31, 2016 and 2015 , have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") for interim financial information along with the instructions to Form 10-Q and Article 10 of Securities and Exchange Commission (“SEC”) Regulation S-X. Accordingly, they do not include all of the information and notes required by GAAP for annual financial statements. In management’s opinion, Autodesk made all adjustments (consisting of normal, recurring and non-recurring adjustments) during the quarter that were considered necessary for the fair statement of the financial position and operating results of the Company. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect reported amounts in the financial statements and accompanying notes. Actual results could differ from those estimates. In addition, the results of operations for the three and six months ended July 31, 2016 are not necessarily indicative of the results for the entire fiscal year ending January 31, 2017 , or for any other period. There have been no material changes to Autodesk's significant accounting policies as compared to the significant accounting policies disclosed in the Annual Report on Form 10-K for the fiscal year ended January 31, 2016 . These unaudited Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and related notes, together with management’s discussion and analysis of financial position and results of operations contained in Autodesk’s Annual Report on Form 10-K for the fiscal year ended January 31, 2016 , filed on March 23, 2016. |
Accounting Standards Adopted and Recently Issued Accounting Standards | Accounting Standards Adopted In March 2016, the FASB issued Accounting Standards Update No. 2016-09 ("ASU 2016-09") regarding ASC Topic 718, “Improvements to Employee Share-Based Payment Accounting.” The new guidance requires excess tax benefits and tax deficiencies to be recorded in the income statement when the awards vest or are settled. In addition, cash flows related to excess tax benefits will no longer be separately classified as a financing activity apart from other income tax cash flows. The standard also increases the amount of shares an employer can withhold for tax purposes without triggering liability accounting, clarifies that all cash payments made on an employee's behalf for withheld shares should be presented as a financing activity in the statements of cash flows, and provides an entity-wide accounting policy election to account for forfeitures as they occur. Autodesk early adopted the standard during the three months ended July 31, 2016. Upon adoption, under the modified retrospective transition method, the Company recognized the previously unrecognized excess tax benefits as increases in deferred tax assets for tax credit and tax loss carryovers, of which $116.5 million were available to offset liabilities for uncertain tax benefits. This reduction in liabilities for uncertain tax benefits resulted in a cumulative-effect increase of $116.5 million to the February 1, 2016 opening retained earnings balance. Tax attributes not available to offset uncertain tax benefits were fully offset by a valuation allowance. Autodesk elected to account for forfeitures as they occur using a modified retrospective transition method, which resulted in a cumulative-effect adjustment of $ 6.9 million to reduce the February 1, 2016 opening retained earnings balance. Autodesk elected to apply the change in presentation of excess tax benefits in the statements of cash flows retrospectively to all periods presented and no longer classifies them as a reduction from operating cash flows. However, the adoption did not impact the current or prior period presented as there were no excess tax benefits recorded. The retrospective presentation requirements for cash flows related to employee taxes paid for withheld shares had no impact to any prior period since such cash flows have historically been presented as a financing activity. Additional amendments to the accounting for minimum statutory withholding tax requirements had no impact to opening retained earnings as of February 1, 2016 as Autodesk does not withhold more than the minimum statutory requirements. As Autodesk elected to early adopt in the second quarter of fiscal 2017, we are required to reflect any adjustments as of February 1, 2016, the beginning of the annual period that includes the interim period of adoption, and are required to revise our reported quarterly results for the three months ended April 30, 2016 . Accordingly, this table reflects the retrospective adjustments made to beginning retained earnings and to the previously reported results for the three months ended April 30, 2016 : Condensed Consolidated Balance Sheets As Reported ASU 2016-09 Adoption Adjustments: As Adjusted (in millions) April 30, 2016 February 1, 2016 Retained Earnings For The Three Months Ended April 30, 2016 April 30, 2016 Long-term income taxes payable $ 153.8 $ (116.5 ) $ — $ 37.3 Common stock and additional paid-in capital 1,865.6 6.9 (5.3 ) 1,867.2 Retained earnings $ (308.2 ) $ 109.6 $ 5.3 $ (193.3 ) Condensed Consolidated Statements of Operations As Reported ASU 2016-09 Adoption Increase/(Decrease) As Adjusted (in millions, except per share data) Three Months Ended April 30, 2016 Three Months Ended April 30, 2016 Cost of subscription revenue $ 39.7 $ 0.1 $ 39.8 Cost of license and other revenue 52.8 (0.2 ) 52.6 Gross profit 419.4 0.1 419.5 Marketing and sales 242.9 (2.1 ) 240.8 Research and development 195.5 (2.0 ) 193.5 General and administrative 75.8 (1.1 ) 74.7 (Loss) from operations (155.0 ) 5.3 (149.7 ) Provision for income taxes (14.4 ) — (14.4 ) Net (loss) $ (173.0 ) $ 5.3 $ (167.7 ) Basic and diluted weighted average shares outstanding 224.4 — 224.4 Basic and diluted net (loss) per share $ (0.77 ) $ 0.02 $ (0.75 ) Effective in the first quarter of fiscal 2017, Autodesk adopted FASB's Accounting Standards Update No. 2015-05 ("ASU 2015-05") regarding Subtopic 350-40, “Intangibles - Goodwill and Other - Internal-Use Software: Customer's Accounting for Fees Paid in a Cloud Computing Arrangement.” The amendments in this ASU provide guidance about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, the customer should account for the software license element of the arrangement consistent with other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The amendments for ASU 2015-05 were prospectively applied and did not have a material impact on Autodesk's consolidated financial statements. Effective in the first quarter of fiscal 2017, Autodesk adopted FASB's Accounting Standards Update No. 2015-07 ("ASU 2015-07") regarding ASC Topic 820, "Fair Value Measurement: Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent)." The amendments in ASU 2015-07 remove the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using the net asset value per share practical expedient. The amendments also limit certain disclosures to investments for which the entity has elected to measure at fair value using the net asset value per share practical expedient. The amendments were applied retrospectively by removing from the fair value hierarchy any investments for which fair value is measured using the net asset value per share practical expedient. Adoption did not have a material impact on Autodesk's consolidated financial statements. Recently Issued Accounting Standards In June 2016, the FASB issued Accounting Standards Update No. 2016-13 ("ASU 2016-13") regarding ASC Topic 326, "Financial Instruments - Credit Losses," which modifies the measurement of expected credit losses of certain financial instruments. The amendments will be effective for Autodesk's fiscal year beginning February 1, 2019 unless Autodesk elects early adoption. Autodesk does not believe ASU 2016-13 will have a material impact on its consolidated financial statements. In February 2016, the FASB issued Accounting Standards Update No. 2016-02 ("ASU 2016-02") regarding ASC Topic 842, "Leases." The amendments in this ASU require balance sheet recognition of lease assets and lease liabilities by lessees for leases classified as operating leases, with an optional policy election to not recognize lease assets and lease liabilities for leases with a term of 12 months or less. The amendments also require new disclosures, including qualitative and quantitative requirements, providing additional information about the amounts recorded in the financial statements. ASU 2016-02 will be effective for Autodesk’s fiscal year beginning February 1, 2019 unless Autodesk elects early adoption. The amendments require a modified retrospective approach with optional practical expedients. Autodesk is currently evaluating the accounting, transition, and disclosure requirements of the standard and cannot currently estimate the financial statement impact of adoption. In January 2016, the FASB issued Accounting Standards Update No. 2016-01 ("ASU 2016-01") regarding ASC Topic 825-10, "Financial Instruments - Overall." The amendments address certain aspects of recognition, measurement, presentation, and disclosure of financial instruments, and require equity securities to be measured at fair value with changes in fair value recognized through net income. The amendments also simplify the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment for impairment quarterly at each reporting period. The amendments in ASU 2016-01 will be effective for Autodesk's fiscal year beginning February 1, 2018. An entity should apply the amendments by means of a cumulative-effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption, with prospective adoption of the amendments related to equity securities without readily determinable fair values existing as of the date of adoption. Autodesk does not believe ASU 2016-01 will have a material impact on its consolidated financial statements. In May 2014, the FASB issued Accounting Standards Update No. 2014-09 ("ASU 2014-09") regarding ASC Topic 606, “Revenue from Contracts with Customers.” ASU 2014-09 provides principles for recognizing revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In August 2015, the FASB issued Accounting Standards Update No. 2015-14 to defer the effective date by one year with early adoption permitted as of the original effective date. ASU 2014-09 will be effective for Autodesk’s fiscal year beginning February 1, 2018 unless we elect the earlier date of February 1, 2017. In addition, the FASB issued Accounting Standards Update No. 2016-08, Accounting Standards Update No. 2016-10, and Accounting Standards Update No. 2016-12 in March 2016, April 2016, and May 2016, respectively, to help provide interpretive clarifications on the new guidance in ASC Topic 606. Autodesk is currently evaluating the accounting, transition, and disclosure requirements of the standard and cannot currently estimate the financial statement impact of adoption. |
Recently Issued Accounting St26
Recently Issued Accounting Standards Recently Issued Accounting Standards (Tables) | 6 Months Ended |
Jul. 31, 2016 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Schedule of Error Corrections and Prior Period Adjustments | Accordingly, this table reflects the retrospective adjustments made to beginning retained earnings and to the previously reported results for the three months ended April 30, 2016 : Condensed Consolidated Balance Sheets As Reported ASU 2016-09 Adoption Adjustments: As Adjusted (in millions) April 30, 2016 February 1, 2016 Retained Earnings For The Three Months Ended April 30, 2016 April 30, 2016 Long-term income taxes payable $ 153.8 $ (116.5 ) $ — $ 37.3 Common stock and additional paid-in capital 1,865.6 6.9 (5.3 ) 1,867.2 Retained earnings $ (308.2 ) $ 109.6 $ 5.3 $ (193.3 ) Condensed Consolidated Statements of Operations As Reported ASU 2016-09 Adoption Increase/(Decrease) As Adjusted (in millions, except per share data) Three Months Ended April 30, 2016 Three Months Ended April 30, 2016 Cost of subscription revenue $ 39.7 $ 0.1 $ 39.8 Cost of license and other revenue 52.8 (0.2 ) 52.6 Gross profit 419.4 0.1 419.5 Marketing and sales 242.9 (2.1 ) 240.8 Research and development 195.5 (2.0 ) 193.5 General and administrative 75.8 (1.1 ) 74.7 (Loss) from operations (155.0 ) 5.3 (149.7 ) Provision for income taxes (14.4 ) — (14.4 ) Net (loss) $ (173.0 ) $ 5.3 $ (167.7 ) Basic and diluted weighted average shares outstanding 224.4 — 224.4 Basic and diluted net (loss) per share $ (0.77 ) $ 0.02 $ (0.75 ) The following table summarizes the impact of adjusting the condensed consolidated income statement balances presented for the three and six months ended July 31, 2015: As previously reported As adjusted (In millions, except per share data) Three Months Ended July 31, 2015 Adjustment Three Months Ended July 31, 2015 Provision for income tax $ (236.4 ) $ (33.1 ) $ (269.5 ) Net loss (235.5 ) (33.1 ) (268.6 ) Basic and diluted net loss per share $ (1.04 ) $ (0.14 ) $ (1.18 ) Six Months Ended July 31, 2015 Adjustment Six Months Ended July 31, 2015 Provision for income tax $ (239.1 ) $ (33.1 ) $ (272.2 ) Net loss (216.4 ) (33.1 ) (249.5 ) Basic and diluted net loss per share $ (0.95 ) $ (0.15 ) $ (1.10 ) The following table summarizes the impact of adjusting the Condensed Consolidated Balance Sheet balances as of July 31, 2015: As previously reported As adjusted (In millions) July 31, 2015 Adjustment July 31, 2015 Current deferred tax liabilities (1) $ 8.3 $ 1.2 $ 9.5 Accrued income taxes 52.3 (29.4 ) 22.9 Long-term deferred tax liabilities 28.9 25.1 54.0 Long-term income tax payable 124.0 36.2 160.2 Retained earnings $ 164.4 $ (33.1 ) $ 131.3 _______________ (1) Included in " Other accrued liabilities " in the accompanying Condensed Consolidated Balance Sheets. |
Financial Instruments (Tables)
Financial Instruments (Tables) | 6 Months Ended |
Jul. 31, 2016 | |
Investments, All Other Investments [Abstract] | |
Cost And Fair Value Of Financial Instruments Disclosure | The following tables summarize the Company's financial instruments' amortized cost, gross unrealized gains, gross unrealized losses, and fair value by significant investment category as of July 31, 2016 and January 31, 2016 : July 31, 2016 Amortized Cost Gross unrealized gains Gross unrealized losses Fair Value Level 1 Level 2 Level 3 Cash equivalents (1): Agency bonds $ 44.2 $ — $ — $ 44.2 $ 44.2 $ — $ — Certificates of deposit 181.3 — — 181.3 181.3 — — Commercial paper 296.9 — — 296.9 — 296.9 — Corporate bonds 8.7 — — 8.7 8.7 — — Custody cash deposit 22.5 — — 22.5 22.5 — — Money market funds 143.8 — — 143.8 — 143.8 — Municipal bonds 5.0 — — 5.0 5.0 — — U.S. government securities 167.0 — — 167.0 167.0 — — Marketable securities: Short-term available-for-sale Agency bonds 41.9 — — 41.9 41.9 — — Asset backed securities 10.8 — — 10.8 — 10.8 — Certificates of deposit 55.4 — — 55.4 55.4 — — Commercial paper 119.4 — — 119.4 — 119.4 — Corporate bonds 267.2 0.2 (0.1 ) 267.3 267.3 — — Sovereign debt 19.6 — — 19.6 — 19.6 — U.S. government securities 37.6 — — 37.6 37.6 — — Short-term trading securities Mutual funds 43.7 1.9 — 45.6 45.6 — — Long-term available-for-sale Agency bonds 52.0 0.3 — 52.3 52.3 — — Asset backed securities 58.9 0.2 — 59.1 — 59.1 — Certificates of deposit 1.8 — — 1.8 1.8 — — Corporate bonds 276.1 1.5 (0.1 ) 277.5 277.5 — — Municipal bonds 9.5 0.1 — 9.6 9.6 — — Sovereign debt 10.8 — — 10.8 — 10.8 — U.S. government securities 94.2 0.3 — 94.5 94.5 — — Convertible debt securities (2) 6.3 2.2 (1.1 ) 7.4 — — 7.4 Derivative contracts (3) 3.2 7.1 (10.8 ) (0.5 ) — (1.7 ) 1.2 Total $ 1,977.8 $ 13.8 $ (12.1 ) $ 1,979.5 $ 1,312.2 $ 658.7 $ 8.6 ____________________ (1) Included in “ Cash and cash equivalents ” in the accompanying Condensed Consolidated Balance Sheets. (2) Considered “available-for-sale” and included in “ Other assets ” in the accompanying Condensed Consolidated Balance Sheets. (3) Included in “ Prepaid expenses and other current assets ,” “ Other assets ,” or “ Other accrued liabilities ” in the accompanying Condensed Consolidated Balance Sheets. January 31, 2016 Amortized Cost Gross unrealized gains Gross unrealized losses Fair Value Level 1 Level 2 Level 3 Cash equivalents (1): Agency bonds $ 8.5 $ — $ — $ 8.5 $ 8.5 $ — $ — Certificates of deposit 267.6 — — 267.6 267.6 — — Commercial paper 106.6 — — 106.6 — 106.6 — Custody cash deposit 2.1 — — 2.1 2.1 — — Money market funds 382.4 — — 382.4 — 382.4 — Municipal bonds 5.0 — — 5.0 5.0 — — U.S. government securities 103.0 — — 103.0 103.0 — — Marketable securities: Short-term available-for-sale Agency bonds 40.0 — (0.1 ) 39.9 39.9 — — Asset backed securities 7.3 — — 7.3 — 7.3 — Certificates of deposit 190.3 — — 190.3 190.3 — — Commercial paper 141.1 — — 141.1 — 141.1 — Corporate debt securities 377.1 0.1 (0.3 ) 376.9 376.9 — — Municipal bonds 9.7 — — 9.7 9.7 — — Sovereign debt 20.1 — — 20.1 — 20.1 U.S. government securities 74.6 — — 74.6 74.6 — — Short-term trading securities Mutual funds 38.8 0.4 (1.2 ) 38.0 38.0 — — Long-term available-for-sale Agency bonds 56.8 0.1 — 56.9 56.9 — — Asset backed securities 36.5 0.1 — 36.6 — 36.6 — Corporate debt securities 320.9 0.3 (0.8 ) 320.4 320.4 — — Municipal bonds 2.9 — — 2.9 2.9 — — Sovereign debt 16.9 — — 16.9 — 16.9 — U.S. government securities 98.4 0.3 (0.1 ) 98.6 98.6 — — Convertible debt securities (2) 2.5 2.0 (1.1 ) 3.4 — — 3.4 Derivative contracts (3) 1.5 7.8 (7.4 ) 1.9 — 1.6 0.3 Total $ 2,310.6 $ 11.1 $ (11.0 ) $ 2,310.7 $ 1,594.4 $ 712.6 $ 3.7 ____________________ (1) Included in “ Cash and cash equivalents ” in the accompanying Condensed Consolidated Balance Sheets. (2) Considered “available-for-sale” and included in “ Other assets ” in the accompanying Condensed Consolidated Balance Sheets. (3) Included in “ Prepaid expenses and other current assets ,” “ Other assets ,” or “ Other accrued liabilities ” in the accompanying Condensed Consolidated Balance Sheets. |
Fair Value, Assets Measured on Recurring Basis | A reconciliation of the change in Autodesk’s Level 3 items for the six months ended July 31, 2016 follows: Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Derivative Contracts Convertible Debt Securities Total Balance at January 31, 2016 $ 0.3 $ 3.4 $ 3.7 Purchases 0.9 4.0 4.9 Losses included in earnings — (0.2 ) (0.2 ) Gains included in OCI — 0.2 0.2 Balance at July 31, 2016 $ 1.2 $ 7.4 $ 8.6 |
Available-for-sale Securities | The following table summarizes the estimated fair value of Autodesk's “available-for-sale securities” classified by the contractual maturity date of the security: July 31, 2016 Cost Fair Value Due within 1 year $ 555.7 $ 556.9 Due in 1 year through 5 years 504.4 506.7 Due in 5 years through 10 years 1.4 1.4 Total $ 1,061.5 $ 1,065.0 |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | The fair values of derivative instruments in Autodesk’s Condensed Consolidated Balance Sheets were as follows as of July 31, 2016 and January 31, 2016 : Balance Sheet Location Fair Value at July 31, 2016 January 31, 2016 Derivative Assets Foreign currency contracts designated as cash flow hedges Prepaid expenses and other current assets $ 6.7 $ 3.4 Derivatives not designated as hedging instruments Prepaid expenses and other current assets and Other assets 1.8 4.9 Total derivative assets $ 8.5 $ 8.3 Derivative Liabilities Foreign currency contracts designated as cash flow hedges Other accrued liabilities $ 8.0 $ 3.4 Derivatives not designated as hedging instruments Other accrued liabilities 1.0 3.0 Total derivative liabilities $ 9.0 $ 6.4 |
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance | The effects of derivatives designated as hedging instruments on Autodesk’s Condensed Consolidated Statements of Operations were as follows for the three and six months ended July 31, 2016 and 2015 (amounts presented include any income tax effects): Foreign Currency Contracts Foreign Currency Contracts Three Months Ended July 31, Six Months Ended July 31, 2016 2015 2016 2015 Amount o f gain (loss) rec ognized in accumulated other comprehensive income on derivatives (effective portion) $ 1.5 $ 4.4 $ (4.9 ) $ 6.7 Amount and location of gain (loss) reclassified from accumulated other comprehensive income into income (effective portion) Net revenue $ 2.5 $ 11.3 $ 7.4 $ 22.3 Operating expenses 0.5 (2.2 ) (1.3 ) (5.5 ) Total $ 3.0 $ 9.1 $ 6.1 $ 16.8 Amount and location of loss recognized in income on derivatives (ineffective portion and amount excluded from effectiveness testing) Interest and other expense, net $ (0.2 ) $ (0.2 ) $ (0.4 ) $ (0.3 ) The effects of derivatives not designated as hedging instruments on Autodesk’s Condensed Consolidated Statements of Operations were as follows for the three and six months ended July 31, 2016 and 2015 (amounts presented include any income tax effects): Three Months Ended July 31, Six Months Ended July 31, 2016 2015 2016 2015 Amount and location of (loss) gain recognized in income on derivatives Interest and other expense, net $ (3.9 ) $ 2.1 $ (10.9 ) $ 0.7 |
Stock-based Compensation Expe28
Stock-based Compensation Expense (Tables) | 6 Months Ended |
Jul. 31, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity | A summary of restricted stock unit activity for the six months ended July 31, 2016 is as follows: Unvested Restricted Stock Units Weighted average grant date fair value per share (in thousands) Unvested restricted stock units at January 31, 2016 7,739.6 $ 51.80 Granted 1,538.8 57.60 Vested (1,008.0 ) 56.00 Canceled/Forfeited (475.7 ) 51.70 Performance Adjustment (1) (29.7 ) 63.81 Unvested restricted stock units at July 31, 2016 7,765.0 $ 52.66 _______________ (1) Based on Autodesk's financial results and relative total stockholder return for the fiscal 2016 performance period. The performance stock units were attained at rates ranging from 86.1% to 98.0% of the target award. |
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs | The following table summarizes stock-based compensation expense for the three and six months ended July 31, 2016 and 2015 , respectively, as follows: Three Months Ended July 31, 2016 2015 Cost of subscription $ 1.7 $ 1.2 Cost of license and other revenue 1.7 1.2 Marketing and sales 23.3 17.3 Research and development 20.2 14.8 General and administrative 7.4 6.2 Stock-based compensation expense related to stock awards and ESPP purchases 54.3 40.7 Tax benefit — (10.5 ) Stock-based compensation expense related to stock awards and ESPP purchases, net of tax $ 54.3 $ 30.2 Six Months Ended July 31, 2016 2015 Cost of subscription $ 3.5 $ 2.6 Cost of license and other revenue 3.3 2.7 Marketing and sales 44.8 39.0 Research and development 39.1 32.4 General and administrative 15.2 14.2 Stock-based compensation expense related to stock awards and ESPP purchases 105.9 90.9 Tax benefit — (24.5 ) Stock-based compensation expense related to stock awards and ESPP purchases, net of tax $ 105.9 $ 66.4 |
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award | Autodesk uses the following assumptions to estimate the fair value of stock-based awards: Six Months Ended July 31, 2016 Six Months Ended July 31, 2015 Performance Stock Unit ESPP Performance Stock Unit ESPP Range of expected volatilities 38.4 - 38.6% 35.0 - 40.2% 27.3% 27.7 - 28.2% Range of expected lives (in years) N/A 0.5 - 2.0 N/A 0.5 - 2.0 Expected dividends —% —% —% —% Range of risk-free interest rates 0.6 - 0.7% 0.5 - 0.9% 0.2% 0.1 - 0.6% |
Income Tax (Tables)
Income Tax (Tables) | 6 Months Ended |
Jul. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Schedule of Error Corrections and Prior Period Adjustments | Accordingly, this table reflects the retrospective adjustments made to beginning retained earnings and to the previously reported results for the three months ended April 30, 2016 : Condensed Consolidated Balance Sheets As Reported ASU 2016-09 Adoption Adjustments: As Adjusted (in millions) April 30, 2016 February 1, 2016 Retained Earnings For The Three Months Ended April 30, 2016 April 30, 2016 Long-term income taxes payable $ 153.8 $ (116.5 ) $ — $ 37.3 Common stock and additional paid-in capital 1,865.6 6.9 (5.3 ) 1,867.2 Retained earnings $ (308.2 ) $ 109.6 $ 5.3 $ (193.3 ) Condensed Consolidated Statements of Operations As Reported ASU 2016-09 Adoption Increase/(Decrease) As Adjusted (in millions, except per share data) Three Months Ended April 30, 2016 Three Months Ended April 30, 2016 Cost of subscription revenue $ 39.7 $ 0.1 $ 39.8 Cost of license and other revenue 52.8 (0.2 ) 52.6 Gross profit 419.4 0.1 419.5 Marketing and sales 242.9 (2.1 ) 240.8 Research and development 195.5 (2.0 ) 193.5 General and administrative 75.8 (1.1 ) 74.7 (Loss) from operations (155.0 ) 5.3 (149.7 ) Provision for income taxes (14.4 ) — (14.4 ) Net (loss) $ (173.0 ) $ 5.3 $ (167.7 ) Basic and diluted weighted average shares outstanding 224.4 — 224.4 Basic and diluted net (loss) per share $ (0.77 ) $ 0.02 $ (0.75 ) The following table summarizes the impact of adjusting the condensed consolidated income statement balances presented for the three and six months ended July 31, 2015: As previously reported As adjusted (In millions, except per share data) Three Months Ended July 31, 2015 Adjustment Three Months Ended July 31, 2015 Provision for income tax $ (236.4 ) $ (33.1 ) $ (269.5 ) Net loss (235.5 ) (33.1 ) (268.6 ) Basic and diluted net loss per share $ (1.04 ) $ (0.14 ) $ (1.18 ) Six Months Ended July 31, 2015 Adjustment Six Months Ended July 31, 2015 Provision for income tax $ (239.1 ) $ (33.1 ) $ (272.2 ) Net loss (216.4 ) (33.1 ) (249.5 ) Basic and diluted net loss per share $ (0.95 ) $ (0.15 ) $ (1.10 ) The following table summarizes the impact of adjusting the Condensed Consolidated Balance Sheet balances as of July 31, 2015: As previously reported As adjusted (In millions) July 31, 2015 Adjustment July 31, 2015 Current deferred tax liabilities (1) $ 8.3 $ 1.2 $ 9.5 Accrued income taxes 52.3 (29.4 ) 22.9 Long-term deferred tax liabilities 28.9 25.1 54.0 Long-term income tax payable 124.0 36.2 160.2 Retained earnings $ 164.4 $ (33.1 ) $ 131.3 _______________ (1) Included in " Other accrued liabilities " in the accompanying Condensed Consolidated Balance Sheets. |
Acquisitions (Tables)
Acquisitions (Tables) | 6 Months Ended |
Jul. 31, 2016 | |
Business Combinations [Abstract] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes the fair value of the assets acquired and liabilities assumed by major class for the business combinations and technology acquisitions completed during the six months ended July 31, 2016 : July 31, 2016 Developed technologies $ 18.8 Customer relationships and other non-current intangible assets 10.2 Trade name 3.8 Goodwill 62.8 Deferred revenue (current and non-current) (2.1 ) Deferred tax liability (7.1 ) Net tangible assets 0.6 Total $ 87.0 |
Other Intangible Assets, Net (T
Other Intangible Assets, Net (Tables) | 6 Months Ended |
Jul. 31, 2016 | |
Finite-Lived Intangible Assets, Net [Abstract] | |
Schedule of Finite-Lived Intangible Assets | Other intangible assets including developed technologies, customer relationships, trade names, patents, user lists and the related accumulated amortization were as follows: July 31, 2016 January 31, 2016 Developed technologies, at cost $ 587.6 $ 571.4 Customer relationships, trade names, patents, and user lists, at cost (1) 384.8 371.6 Other intangible assets, at cost (2) 972.4 943.0 Less: Accumulated amortization (832.3 ) (796.2 ) Other intangible assets, net $ 140.1 $ 146.8 _______________ (1) Included in “Other assets” in the accompanying Condensed Consolidated Balance Sheets. (2) Includes the effects of foreign currency translation. |
Goodwill (Tables)
Goodwill (Tables) | 6 Months Ended |
Jul. 31, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Goodwill | The change in the carrying amount of goodwill by reportable segment during the six months ended July 31, 2016 is as follows: Platform Solutions and Emerging Business Architecture, Engineering and Construction Manufacturing Media and Entertainment Total Balances as of January 31, 2016 Goodwill $ 386.9 $ 427.2 $ 613.9 $ 256.2 $ 1,684.2 Accumulated impairment losses — — — (149.2 ) (149.2 ) 386.9 427.2 613.9 107.0 1,535.0 Addition arising from other acquisitions 17.4 — 13.6 31.8 62.8 Effect of foreign currency translation, purchase accounting adjustments, and other 0.7 2.0 (3.5 ) 0.4 (0.4 ) Balances as of July 31, 2016 Goodwill 405.0 429.2 624.0 288.4 1,746.6 Accumulated impairment losses — — — (149.2 ) (149.2 ) $ 405.0 $ 429.2 $ 624.0 $ 139.2 $ 1,597.4 |
Computer Equipment, Software,33
Computer Equipment, Software, Furniture and Leasehold Improvements, Net (Tables) | 6 Months Ended |
Jul. 31, 2016 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment | Computer equipment, software, furniture, leasehold improvements and the related accumulated depreciation were as follows: July 31, 2016 January 31, 2016 Computer hardware, at cost $ 211.3 $ 202.7 Computer software, at cost 94.2 85.6 Leasehold improvements, land and buildings, at cost 202.1 202.9 Furniture and equipment, at cost 59.0 59.0 566.6 550.2 Less: Accumulated depreciation (393.6 ) (380.9 ) Computer software, hardware, leasehold improvements, furniture and equipment, net $ 173.0 $ 169.3 |
Restructuring (Tables)
Restructuring (Tables) | 6 Months Ended |
Jul. 31, 2016 | |
Restructuring and Related Activities [Abstract] | |
Schedule of Restructuring and Related Costs | The following table sets forth the restructuring charges and other facility exit costs during the six months ended July 31, 2016 : Balance at January 31, 2016 Additions Payments Adjustments (1) Balance at July 31, 2016 Fiscal 2017 Plan Employee termination costs $ — $ 55.7 $ (48.4 ) $ — $ 7.3 Lease termination and other exit costs — 5.2 (2.1 ) (1.9 ) 1.2 Other Lease Termination Costs Lease termination costs — 7.4 (0.2 ) (3.5 ) 3.7 Total $ — $ 68.3 $ (50.7 ) $ (5.4 ) $ 12.2 Current portion (2) $ — $ 10.3 Non-current portion (2) — 1.9 Total $ — $ 12.2 ____________________ (1) Adjustments include the impact of computer equipment, software, furniture, straight-line rent and leasehold improvement write-offs, and foreign currency translation. (2) The current and non-current portions of the reserve are recorded in the Condensed Consolidated Balance Sheets under “ Other accrued liabilities ” and “ Other liabilities ,” respectively. |
Accumulated Other Comprehensi35
Accumulated Other Comprehensive Loss (Tables) | 6 Months Ended |
Jul. 31, 2016 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Schedule of Accumulated Other Comprehensive Loss | Accumulated other comprehensive loss , net of taxes, consisted of the following at July 31, 2016 : 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 (loss) income before reclassifications (4.1 ) 4.5 (0.2 ) (1.4 ) (1.2 ) Pre-tax (gains) losses reclassified from accumulated other comprehensive loss (6.1 ) (0.5 ) 0.7 — (5.9 ) Tax effects (0.8 ) (0.6 ) (0.2 ) — (1.6 ) Net current period other comprehensive (loss) income (11.0 ) 3.4 0.3 (1.4 ) (8.7 ) Balances, July 31, 2016 $ 4.7 $ 3.6 $ (28.0 ) $ (110.1 ) $ (129.8 ) |
Net Income Per Share (Tables)
Net Income Per Share (Tables) | 6 Months Ended |
Jul. 31, 2016 | |
Earnings Per Share [Abstract] | |
Schedule of Calculation of Numerator and Denominator in Earnings Per Share | The following table sets forth the computation of the numerators and denominators used in the basic and diluted net loss per share amounts: Three Months Ended July 31, Six Months Ended July 31, 2016 2015 2016 2015 Numerator: Net loss $ (98.2 ) $ (268.6 ) $ (265.9 ) $ (249.5 ) Denominator: Denominator for basic net loss per share—weighted average shares 223.2 227.0 223.8 227.1 Effect of dilutive securities (1) — — — — Denominator for dilutive net loss per share 223.2 227.0 223.8 227.1 Basic net loss per share $ (0.44 ) $ (1.18 ) (1.19 ) (1.10 ) Diluted net loss per share $ (0.44 ) $ (1.18 ) (1.19 ) (1.10 ) ____________________ (1) The effect of dilutive securities of 4.2 million shares and 4.1 million shares for the three months ended July 31, 2016 and 2015 , 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 periods. The effect of dilutive securities of 4.0 million and 4.5 million shares for the six months ended July 31, 2016 and 2015 , 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 periods. |
Segments (Tables)
Segments (Tables) | 6 Months Ended |
Jul. 31, 2016 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment | Information concerning the operations of Autodesk’s reportable segments is as follows: Three Months Ended July 31, Six Months Ended July 31, 2016 2015 2016 2015 Net revenue: Architecture, Engineering and Construction $ 253.2 $ 233.4 $ 472.1 $ 470.1 Manufacturing 176.9 171.2 334.9 355.8 Platform Solutions and Emerging Business 86.2 164.1 186.2 349.4 Media and Entertainment 34.4 40.8 69.4 80.7 $ 550.7 $ 609.5 $ 1,062.6 $ 1,256.0 Gross profit: Architecture, Engineering and Construction $ 229.1 $ 209.5 $ 422.7 $ 426.5 Manufacturing 156.4 151.2 292.5 309.3 Platform Solutions and Emerging Business 65.5 138.5 141.6 301.8 Media and Entertainment 28.7 31.7 56.7 64.4 Unallocated (1) (14.1 ) (14.4 ) (28.4 ) (30.8 ) $ 465.6 $ 516.5 $ 885.1 $ 1,071.2 _______________ (1) Unallocated amounts primarily relate to corporate expenses and other costs and expenses that are managed outside the reportable segments, including stock-based compensation expense. |
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area | Information regarding Autodesk’s operations by geographic area is as follows: Three Months Ended July 31, Six Months Ended July 31, 2016 2015 2016 2015 Net revenue: Americas U.S. $ 195.2 $ 194.5 $ 379.9 $ 394.1 Other Americas 34.9 41.2 67.9 85.6 Total Americas 230.1 235.7 447.8 479.7 Europe, Middle East and Africa 220.5 225.7 423.1 471.1 Asia Pacific Japan 36.8 50.7 74.1 115.8 Other Asia Pacific 63.3 97.4 117.6 189.4 Total Asia Pacific 100.1 148.1 191.7 305.2 Total net revenue $ 550.7 $ 609.5 $ 1,062.6 $ 1,256.0 |
Basis of Presentation Reclassif
Basis of Presentation Reclassification (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jul. 31, 2016 | Apr. 30, 2016 | Jul. 31, 2015 | Jul. 31, 2016 | Jul. 31, 2015 | |
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||||
Provision for income taxes | $ 25.2 | $ (14.4) | $ 269.5 | $ 39.6 | $ 272.2 |
Operating expenses | $ 528.5 | 512.2 | $ 1,097.7 | 1,045.4 | |
Employee Benefits and Estimated Personal Property Liabilities | |||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||||
Operating expenses | 5.7 | ||||
Restatement Adjustment | |||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||||
Provision for income taxes | $ 33.1 | $ 33.1 |
Recently Issued Accounting St39
Recently Issued Accounting Standards ASU Adoption (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | |||||
Jul. 31, 2016 | Apr. 30, 2016 | Jul. 31, 2015 | Jul. 31, 2016 | Jul. 31, 2015 | Feb. 01, 2016 | Jan. 31, 2016 | |
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||||||
Long-term income taxes payable | $ 42.7 | $ 37.3 | $ 160.2 | $ 42.7 | $ 160.2 | $ 161.4 | |
Common stock and additional paid-in capital | 1,857.1 | 1,867.2 | 1,857.1 | 1,821.5 | |||
Retained earnings | (395.6) | (193.3) | 131.3 | (395.6) | 131.3 | $ (80.8) | |
Cost of subscription revenue | 38.2 | 39.8 | 40 | 78 | 78.7 | ||
Cost of license and other revenue | 46.9 | 52.6 | 53 | 99.5 | 106.1 | ||
Gross profit | 465.6 | 419.5 | 516.5 | 885.1 | 1,071.2 | ||
Marketing and sales | 243.1 | 240.8 | 240.8 | 483.9 | 494.7 | ||
Research and development | 193 | 193.5 | 193.1 | 386.5 | 387.6 | ||
General and administrative | 68.6 | 74.7 | 70.1 | 143.3 | 146 | ||
(Loss) from operations | (62.9) | (149.7) | 4.3 | (212.6) | 25.8 | ||
Provision for income taxes | 25.2 | (14.4) | 269.5 | 39.6 | 272.2 | ||
Net (loss) | $ (98.2) | $ (167.7) | (268.6) | $ (265.9) | (249.5) | ||
Basic and diluted weighted average shares outstanding (in shares) | 224.4 | ||||||
Basic and diluted net (loss) per share (in dollars per share) | $ (0.75) | ||||||
Scenario, Previously Reported | |||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||||||
Long-term income taxes payable | $ 153.8 | 124 | 124 | ||||
Common stock and additional paid-in capital | 1,865.6 | ||||||
Retained earnings | (308.2) | 164.4 | 164.4 | ||||
Cost of subscription revenue | 39.7 | ||||||
Cost of license and other revenue | 52.8 | ||||||
Gross profit | 419.4 | ||||||
Marketing and sales | 242.9 | ||||||
Research and development | 195.5 | ||||||
General and administrative | 75.8 | ||||||
(Loss) from operations | (155) | ||||||
Provision for income taxes | (14.4) | 236.4 | 239.1 | ||||
Net (loss) | $ (173) | (235.5) | (216.4) | ||||
Basic and diluted weighted average shares outstanding (in shares) | 224.4 | ||||||
Basic and diluted net (loss) per share (in dollars per share) | $ (0.77) | ||||||
Restatement Adjustment | |||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||||||
Long-term income taxes payable | 36.2 | 36.2 | |||||
Retained earnings | (33.1) | (33.1) | |||||
Provision for income taxes | 33.1 | 33.1 | |||||
Net (loss) | $ (33.1) | $ (33.1) | |||||
Accounting Standards Update 2016-09 | New Accounting Pronouncement, Early Adoption, Effect | |||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||||||
Liability for uncertain tax positions, noncurrent | $ 116.5 | ||||||
Cumulative effect of new accounting pronouncement | 6.9 | ||||||
Accounting Standards Update 2016-09 | Restatement Adjustment | New Accounting Pronouncement, Early Adoption, Effect | |||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||||||
Long-term income taxes payable | $ 0 | (116.5) | |||||
Common stock and additional paid-in capital | (5.3) | 6.9 | |||||
Retained earnings | 5.3 | 109.6 | |||||
Cost of subscription revenue | 0.1 | ||||||
Cost of license and other revenue | (0.2) | ||||||
Gross profit | 0.1 | ||||||
Marketing and sales | (2.1) | ||||||
Research and development | (2) | ||||||
General and administrative | (1.1) | ||||||
(Loss) from operations | 5.3 | ||||||
Provision for income taxes | 0 | ||||||
Net (loss) | $ 5.3 | ||||||
Basic and diluted weighted average shares outstanding (in shares) | 0 | ||||||
Basic and diluted net (loss) per share (in dollars per share) | $ 0.02 | ||||||
Accounting Standards Update 2016-09 | Retained Earnings | New Accounting Pronouncement, Early Adoption, Effect | |||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||||||
Cumulative effect of new accounting pronouncement | $ 116.5 |
Concentration of Credit Risk Ad
Concentration of Credit Risk Additional Information (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jul. 31, 2016 | Jul. 31, 2015 | Jul. 31, 2016 | Jul. 31, 2015 | Jan. 31, 2016 | |
Concentration Risk [Line Items] | |||||
Unsecured revolving credit facility | $ 400,000,000 | $ 400,000,000 | |||
Tech Data | Net Revenue | |||||
Concentration Risk [Line Items] | |||||
Concentration risk | 31.00% | 23.00% | 30.00% | 25.00% | |
Tech Data | Accounts Receivable | |||||
Concentration Risk [Line Items] | |||||
Concentration risk | 31.00% | 22.00% |
Financial Instruments Cost and
Financial Instruments Cost and Fair Value of Financial Instruments (Details) - USD ($) $ in Millions | Jul. 31, 2016 | Jan. 31, 2016 | Jul. 31, 2015 | Jan. 31, 2015 | |||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Cash equivalents | $ 1,467.3 | $ 1,353 | $ 1,473.1 | $ 1,410.6 | |||
Derivative contracts, Amortized Cost | [1] | 3.2 | 1.5 | ||||
Derivative contracts, Gross unrealized gains | [1] | 7.1 | 7.8 | ||||
Derivative contracts, Gross unrealized losses | [1] | (10.8) | (7.4) | ||||
Derivative contracts, Fair Value | [1] | (0.5) | 1.9 | ||||
Amortized Cost | 1,977.8 | 2,310.6 | |||||
Gross unrealized gains | 13.8 | 11.1 | |||||
Gross unrealized losses | (12.1) | (11) | |||||
Fair Value | 1,979.5 | 2,310.7 | |||||
Marketable Securities, Current | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Mutual funds, Amortized Cost | 43.7 | 38.8 | |||||
Mutual funds, Gross unrealized gains | 1.9 | 0.4 | |||||
Mutual funds, Gross unrealized losses | 0 | (1.2) | |||||
Mutual funds, Fair Value | 45.6 | 38 | |||||
Marketable Securities, Current | Agency bonds | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Amortized Cost | 41.9 | 40 | |||||
Marketable securities, Gross unrealized gains | 0 | 0 | |||||
Marketable securities, Gross unrealized losses | 0 | (0.1) | |||||
Marketable securities, Fair Value | 41.9 | 39.9 | |||||
Marketable Securities, Current | Asset backed securities | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Amortized Cost | 10.8 | 7.3 | |||||
Marketable securities, Gross unrealized gains | 0 | 0 | |||||
Marketable securities, Gross unrealized losses | 0 | 0 | |||||
Marketable securities, Fair Value | 10.8 | 7.3 | |||||
Marketable Securities, Current | Certificates of deposit | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Amortized Cost | 55.4 | 190.3 | |||||
Marketable securities, Gross unrealized gains | 0 | 0 | |||||
Marketable securities, Gross unrealized losses | 0 | 0 | |||||
Marketable securities, Fair Value | 55.4 | 190.3 | |||||
Marketable Securities, Current | Commercial paper | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Amortized Cost | 119.4 | 141.1 | |||||
Marketable securities, Gross unrealized gains | 0 | 0 | |||||
Marketable securities, Gross unrealized losses | 0 | 0 | |||||
Marketable securities, Fair Value | 119.4 | 141.1 | |||||
Marketable Securities, Current | Corporate bonds | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Amortized Cost | 267.2 | ||||||
Marketable securities, Gross unrealized gains | 0.2 | ||||||
Marketable securities, Gross unrealized losses | (0.1) | ||||||
Marketable securities, Fair Value | 267.3 | ||||||
Marketable Securities, Current | Corporate debt securities | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Amortized Cost | 377.1 | ||||||
Marketable securities, Gross unrealized gains | 0.1 | ||||||
Marketable securities, Gross unrealized losses | (0.3) | ||||||
Marketable securities, Fair Value | 376.9 | ||||||
Marketable Securities, Current | Municipal bonds | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Amortized Cost | 9.7 | ||||||
Marketable securities, Gross unrealized gains | 0 | ||||||
Marketable securities, Gross unrealized losses | 0 | ||||||
Marketable securities, Fair Value | 9.7 | ||||||
Marketable Securities, Current | Sovereign debt | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Amortized Cost | 19.6 | 20.1 | |||||
Marketable securities, Gross unrealized gains | 0 | 0 | |||||
Marketable securities, Gross unrealized losses | 0 | 0 | |||||
Marketable securities, Fair Value | 19.6 | 20.1 | |||||
Marketable Securities, Current | U.S. government securities | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Amortized Cost | 37.6 | 74.6 | |||||
Marketable securities, Gross unrealized gains | 0 | 0 | |||||
Marketable securities, Gross unrealized losses | 0 | 0 | |||||
Marketable securities, Fair Value | 37.6 | 74.6 | |||||
Marketable Securities, Noncurrent | Agency bonds | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Amortized Cost | 52 | 56.8 | |||||
Marketable securities, Gross unrealized gains | 0.3 | 0.1 | |||||
Marketable securities, Gross unrealized losses | 0 | 0 | |||||
Marketable securities, Fair Value | 52.3 | 56.9 | |||||
Marketable Securities, Noncurrent | Asset backed securities | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Amortized Cost | 58.9 | 36.5 | |||||
Marketable securities, Gross unrealized gains | 0.2 | 0.1 | |||||
Marketable securities, Gross unrealized losses | 0 | 0 | |||||
Marketable securities, Fair Value | 59.1 | 36.6 | |||||
Marketable Securities, Noncurrent | Certificates of deposit | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Amortized Cost | 1.8 | ||||||
Marketable securities, Gross unrealized gains | 0 | ||||||
Marketable securities, Gross unrealized losses | 0 | ||||||
Marketable securities, Fair Value | 1.8 | ||||||
Marketable Securities, Noncurrent | Corporate bonds | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Amortized Cost | 276.1 | ||||||
Marketable securities, Gross unrealized gains | 1.5 | ||||||
Marketable securities, Gross unrealized losses | (0.1) | ||||||
Marketable securities, Fair Value | 277.5 | ||||||
Marketable Securities, Noncurrent | Corporate debt securities | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Amortized Cost | 320.9 | ||||||
Marketable securities, Gross unrealized gains | 0.3 | ||||||
Marketable securities, Gross unrealized losses | (0.8) | ||||||
Marketable securities, Fair Value | 320.4 | ||||||
Marketable Securities, Noncurrent | Municipal bonds | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Amortized Cost | 9.5 | 2.9 | |||||
Marketable securities, Gross unrealized gains | 0.1 | 0 | |||||
Marketable securities, Gross unrealized losses | 0 | 0 | |||||
Marketable securities, Fair Value | 9.6 | 2.9 | |||||
Marketable Securities, Noncurrent | Sovereign debt | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Amortized Cost | 10.8 | 16.9 | |||||
Marketable securities, Gross unrealized gains | 0 | 0 | |||||
Marketable securities, Gross unrealized losses | 0 | 0 | |||||
Marketable securities, Fair Value | 10.8 | 16.9 | |||||
Marketable Securities, Noncurrent | U.S. government securities | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Amortized Cost | 94.2 | 98.4 | |||||
Marketable securities, Gross unrealized gains | 0.3 | 0.3 | |||||
Marketable securities, Gross unrealized losses | 0 | (0.1) | |||||
Marketable securities, Fair Value | 94.5 | 98.6 | |||||
Convertible debt securities | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Convertible debt securities, Amortized Cost | [2] | 6.3 | 2.5 | ||||
Convertible debt securities, Gross unrealized gains | [2] | 2.2 | 2 | ||||
Convertible debt securities, Gross unrealized losses | [2] | (1.1) | (1.1) | ||||
Convertible debt securities, Fair Value | [2] | 7.4 | 3.4 | ||||
Agency bonds | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Cash equivalents | 44.2 | [3] | 8.5 | [4] | |||
Cash equivalents, Fair Value | 44.2 | [3] | 8.5 | [4] | |||
Certificates of deposit | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Cash equivalents | 181.3 | [3] | 267.6 | [4] | |||
Cash equivalents, Fair Value | 181.3 | [3] | 267.6 | [4] | |||
Commercial paper | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Cash equivalents | 296.9 | [3] | 106.6 | [4] | |||
Cash equivalents, Fair Value | 296.9 | [3] | 106.6 | [4] | |||
Corporate bonds | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Cash equivalents | [3] | 8.7 | |||||
Cash equivalents, Fair Value | [3] | 8.7 | |||||
Custody cash deposit | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Cash equivalents | 22.5 | [3] | 2.1 | [4] | |||
Cash equivalents, Fair Value | 22.5 | [3] | 2.1 | [4] | |||
Money market funds | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Cash equivalents | 143.8 | [3] | 382.4 | [4] | |||
Cash equivalents, Fair Value | 143.8 | [3] | 382.4 | [4] | |||
Municipal bonds | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Cash equivalents | 5 | [3] | 5 | [4] | |||
Cash equivalents, Fair Value | 5 | [3] | 5 | [4] | |||
U.S. government securities | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Cash equivalents | 167 | [3] | 103 | [4] | |||
Cash equivalents, Fair Value | 167 | [3] | 103 | [4] | |||
Level 1 | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Derivative contracts, Fair Value | [1] | 0 | 0 | ||||
Fair Value | 1,312.2 | 1,594.4 | |||||
Level 1 | Marketable Securities, Current | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Mutual funds, Fair Value | 45.6 | 38 | |||||
Level 1 | Marketable Securities, Current | Agency bonds | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Fair Value | 41.9 | 39.9 | |||||
Level 1 | Marketable Securities, Current | Asset backed securities | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Fair Value | 0 | 0 | |||||
Level 1 | Marketable Securities, Current | Certificates of deposit | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Fair Value | 55.4 | 190.3 | |||||
Level 1 | Marketable Securities, Current | Commercial paper | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Fair Value | 0 | 0 | |||||
Level 1 | Marketable Securities, Current | Corporate bonds | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Fair Value | 267.3 | ||||||
Level 1 | Marketable Securities, Current | Corporate debt securities | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Fair Value | 376.9 | ||||||
Level 1 | Marketable Securities, Current | Municipal bonds | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Fair Value | 9.7 | ||||||
Level 1 | Marketable Securities, Current | Sovereign debt | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Fair Value | 0 | 0 | |||||
Level 1 | Marketable Securities, Current | U.S. government securities | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Fair Value | 37.6 | 74.6 | |||||
Level 1 | Marketable Securities, Noncurrent | Agency bonds | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Fair Value | 52.3 | 56.9 | |||||
Level 1 | Marketable Securities, Noncurrent | Asset backed securities | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Fair Value | 0 | 0 | |||||
Level 1 | Marketable Securities, Noncurrent | Certificates of deposit | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Fair Value | 1.8 | ||||||
Level 1 | Marketable Securities, Noncurrent | Corporate bonds | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Fair Value | 277.5 | ||||||
Level 1 | Marketable Securities, Noncurrent | Corporate debt securities | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Fair Value | 320.4 | ||||||
Level 1 | Marketable Securities, Noncurrent | Municipal bonds | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Fair Value | 9.6 | 2.9 | |||||
Level 1 | Marketable Securities, Noncurrent | Sovereign debt | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Fair Value | 0 | 0 | |||||
Level 1 | Marketable Securities, Noncurrent | U.S. government securities | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Fair Value | 94.5 | 98.6 | |||||
Level 1 | Convertible debt securities | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Convertible debt securities, Fair Value | [2] | 0 | 0 | ||||
Level 1 | Agency bonds | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Cash equivalents, Fair Value | 44.2 | [3] | 8.5 | [4] | |||
Level 1 | Certificates of deposit | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Cash equivalents, Fair Value | 181.3 | [3] | 267.6 | [4] | |||
Level 1 | Commercial paper | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Cash equivalents, Fair Value | 0 | [3] | 0 | [4] | |||
Level 1 | Corporate bonds | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Cash equivalents, Fair Value | [3] | 8.7 | |||||
Level 1 | Custody cash deposit | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Cash equivalents, Fair Value | 22.5 | [3] | 2.1 | [4] | |||
Level 1 | Money market funds | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Cash equivalents, Fair Value | 0 | [3] | 0 | [4] | |||
Level 1 | Municipal bonds | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Cash equivalents, Fair Value | 5 | [3] | 5 | [4] | |||
Level 1 | U.S. government securities | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Cash equivalents, Fair Value | 167 | [3] | 103 | [4] | |||
Level 2 | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Derivative contracts, Fair Value | [1] | (1.7) | 1.6 | ||||
Fair Value | 658.7 | 712.6 | |||||
Level 2 | Marketable Securities, Current | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Mutual funds, Fair Value | 0 | 0 | |||||
Level 2 | Marketable Securities, Current | Agency bonds | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Fair Value | 0 | 0 | |||||
Level 2 | Marketable Securities, Current | Asset backed securities | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Fair Value | 10.8 | 7.3 | |||||
Level 2 | Marketable Securities, Current | Certificates of deposit | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Fair Value | 0 | 0 | |||||
Level 2 | Marketable Securities, Current | Commercial paper | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Fair Value | 119.4 | 141.1 | |||||
Level 2 | Marketable Securities, Current | Corporate bonds | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Fair Value | 0 | ||||||
Level 2 | Marketable Securities, Current | Corporate debt securities | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Fair Value | 0 | ||||||
Level 2 | Marketable Securities, Current | Municipal bonds | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Fair Value | 0 | ||||||
Level 2 | Marketable Securities, Current | Sovereign debt | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Fair Value | 19.6 | 20.1 | |||||
Level 2 | Marketable Securities, Current | U.S. government securities | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Fair Value | 0 | 0 | |||||
Level 2 | Marketable Securities, Noncurrent | Agency bonds | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Fair Value | 0 | 0 | |||||
Level 2 | Marketable Securities, Noncurrent | Asset backed securities | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Fair Value | 59.1 | 36.6 | |||||
Level 2 | Marketable Securities, Noncurrent | Certificates of deposit | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Fair Value | 0 | ||||||
Level 2 | Marketable Securities, Noncurrent | Corporate bonds | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Fair Value | 0 | ||||||
Level 2 | Marketable Securities, Noncurrent | Corporate debt securities | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Fair Value | 0 | ||||||
Level 2 | Marketable Securities, Noncurrent | Municipal bonds | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Fair Value | 0 | 0 | |||||
Level 2 | Marketable Securities, Noncurrent | Sovereign debt | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Fair Value | 10.8 | 16.9 | |||||
Level 2 | Marketable Securities, Noncurrent | U.S. government securities | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Fair Value | 0 | 0 | |||||
Level 2 | Convertible debt securities | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Convertible debt securities, Fair Value | [2] | 0 | 0 | ||||
Level 2 | Agency bonds | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Cash equivalents, Fair Value | 0 | [3] | 0 | [4] | |||
Level 2 | Certificates of deposit | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Cash equivalents, Fair Value | 0 | [3] | 0 | [4] | |||
Level 2 | Commercial paper | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Cash equivalents, Fair Value | 296.9 | [3] | 106.6 | [4] | |||
Level 2 | Corporate bonds | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Cash equivalents, Fair Value | [3] | 0 | |||||
Level 2 | Custody cash deposit | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Cash equivalents, Fair Value | 0 | [3] | 0 | [4] | |||
Level 2 | Money market funds | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Cash equivalents, Fair Value | 143.8 | [3] | 382.4 | [4] | |||
Level 2 | Municipal bonds | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Cash equivalents, Fair Value | 0 | [3] | 0 | [4] | |||
Level 2 | U.S. government securities | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Cash equivalents, Fair Value | 0 | [3] | 0 | [4] | |||
Level 3 | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Derivative contracts, Fair Value | [1] | 1.2 | 0.3 | ||||
Fair Value | 8.6 | 3.7 | |||||
Level 3 | Marketable Securities, Current | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Mutual funds, Fair Value | 0 | 0 | |||||
Level 3 | Marketable Securities, Current | Agency bonds | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Fair Value | 0 | 0 | |||||
Level 3 | Marketable Securities, Current | Asset backed securities | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Fair Value | 0 | 0 | |||||
Level 3 | Marketable Securities, Current | Certificates of deposit | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Fair Value | 0 | 0 | |||||
Level 3 | Marketable Securities, Current | Commercial paper | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Fair Value | 0 | 0 | |||||
Level 3 | Marketable Securities, Current | Corporate bonds | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Fair Value | 0 | ||||||
Level 3 | Marketable Securities, Current | Corporate debt securities | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Fair Value | 0 | ||||||
Level 3 | Marketable Securities, Current | Municipal bonds | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Fair Value | 0 | ||||||
Level 3 | Marketable Securities, Current | Sovereign debt | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Fair Value | 0 | ||||||
Level 3 | Marketable Securities, Current | U.S. government securities | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Fair Value | 0 | 0 | |||||
Level 3 | Marketable Securities, Noncurrent | Agency bonds | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Fair Value | 0 | 0 | |||||
Level 3 | Marketable Securities, Noncurrent | Asset backed securities | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Fair Value | 0 | 0 | |||||
Level 3 | Marketable Securities, Noncurrent | Certificates of deposit | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Fair Value | 0 | ||||||
Level 3 | Marketable Securities, Noncurrent | Corporate bonds | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Fair Value | 0 | ||||||
Level 3 | Marketable Securities, Noncurrent | Corporate debt securities | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Fair Value | 0 | ||||||
Level 3 | Marketable Securities, Noncurrent | Municipal bonds | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Fair Value | 0 | 0 | |||||
Level 3 | Marketable Securities, Noncurrent | Sovereign debt | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Fair Value | 0 | 0 | |||||
Level 3 | Marketable Securities, Noncurrent | U.S. government securities | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Marketable securities, Fair Value | 0 | 0 | |||||
Level 3 | Convertible debt securities | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Convertible debt securities, Fair Value | [2] | 7.4 | 3.4 | ||||
Level 3 | Agency bonds | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Cash equivalents, Fair Value | 0 | [3] | 0 | [4] | |||
Level 3 | Certificates of deposit | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Cash equivalents, Fair Value | 0 | [3] | 0 | [4] | |||
Level 3 | Commercial paper | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Cash equivalents, Fair Value | 0 | [3] | 0 | [4] | |||
Level 3 | Corporate bonds | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Cash equivalents, Fair Value | [3] | 0 | |||||
Level 3 | Custody cash deposit | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Cash equivalents, Fair Value | 0 | [3] | 0 | [4] | |||
Level 3 | Money market funds | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Cash equivalents, Fair Value | 0 | [3] | 0 | [4] | |||
Level 3 | Municipal bonds | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Cash equivalents, Fair Value | 0 | [3] | 0 | [4] | |||
Level 3 | U.S. government securities | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Cash equivalents, Fair Value | $ 0 | [3] | $ 0 | [4] | |||
[1] | Included in “Prepaid expenses and other current assets,” “Other assets,” or “Other accrued liabilities” in the accompanying Condensed Consolidated Balance Sheets. | ||||||
[2] | Considered “available-for-sale” and included in “Other assets” in the accompanying Condensed Consolidated Balance Sheets. | ||||||
[3] | Included in “Cash and cash equivalents” in the accompanying Condensed Consolidated Balance Sheets. | ||||||
[4] | Included in “Cash and cash equivalents” in the accompanying Condensed Consolidated Balance Sheets. |
Financial Instruments Reconcili
Financial Instruments Reconciliation of the Change in Level 3 Items (Details) - Level 3 $ in Millions | 6 Months Ended |
Jul. 31, 2016USD ($) | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |
Balance at January 31, 2016 | $ 3.7 |
Purchases | 4.9 |
Losses included in earnings | (0.2) |
Gains included in OCI | 0.2 |
Balance at July 31, 2016 | 8.6 |
Derivative Contracts | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |
Balance at January 31, 2016 | 0.3 |
Purchases | 0.9 |
Losses included in earnings | 0 |
Gains included in OCI | 0 |
Balance at July 31, 2016 | 1.2 |
Convertible Debt Securities | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |
Balance at January 31, 2016 | 3.4 |
Purchases | 4 |
Losses included in earnings | (0.2) |
Gains included in OCI | 0.2 |
Balance at July 31, 2016 | $ 7.4 |
Financial Instruments Contractu
Financial Instruments Contractual Maturities of Types of Securities (Details) $ in Millions | Jul. 31, 2016USD ($) |
Cost | |
Due within 1 year | $ 555.7 |
Due in 1 year through 5 years | 504.4 |
Due in 5 years through 10 years | 1.4 |
Total | 1,061.5 |
Fair Value | |
Due within 1 year | 556.9 |
Due in 1 year through 5 years | 506.7 |
Due in 5 years through 10 years | 1.4 |
Total | $ 1,065 |
Financial Instruments Available
Financial Instruments Available for Sale Securities Gain/Loss Activity (Details) - USD ($) $ in Millions | 6 Months Ended | ||
Jul. 31, 2016 | Jul. 31, 2015 | Jan. 31, 2016 | |
Investments, All Other Investments [Abstract] | |||
Cost method investments | $ 105.7 | $ 104.3 | |
Other than temporary impairment losses, investments | 0.3 | $ 0.2 | |
Gain (loss) on investments | 0.4 | 0.3 | |
Proceeds from sale and maturity of marketable securities | $ 1,146 | $ 728 |
Financial Instruments Fair Valu
Financial Instruments Fair Value of Derivative Instruments (Details) - USD ($) $ in Millions | Jul. 31, 2016 | Jan. 31, 2016 |
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | $ 8.5 | $ 8.3 |
Derivative Liabilities | 9 | 6.4 |
Designated as hedging instrument | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, notional amount | 445.7 | 142.4 |
Net gain expected to be recognized in next 12 months | 4.7 | |
Foreign currency contracts | Designated as hedging instrument | Prepaid expenses and other current assets | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 6.7 | 3.4 |
Foreign currency contracts | Designated as hedging instrument | Other accrued liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liabilities | 8 | 3.4 |
Foreign currency contracts | Derivatives not designated as hedging instruments | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, notional amount | 88.7 | 231.6 |
Foreign currency contracts | Derivatives not designated as hedging instruments | Prepaid expenses and other current assets | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 1.8 | 4.9 |
Foreign currency contracts | Derivatives not designated as hedging instruments | Other accrued liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liabilities | $ 1 | $ 3 |
Financial Instruments Effects o
Financial Instruments Effects of Derivative Instruments on Condensed Consolidated Statements of Operations (Details) - Foreign currency contracts - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2016 | Jul. 31, 2015 | Jul. 31, 2016 | Jul. 31, 2015 | |
Designated as hedging instrument | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Amount of gain (loss) recognized in accumulated other comprehensive income on derivatives (effective portion) | $ 1.5 | $ 4.4 | $ (4.9) | $ 6.7 |
Amount and location of gain (loss) reclassified from accumulated other comprehensive income into income (effective portion) | 3 | 9.1 | 6.1 | 16.8 |
Designated as hedging instrument | Net revenue | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Amount and location of gain (loss) reclassified from accumulated other comprehensive income into income (effective portion) | 2.5 | 11.3 | 7.4 | 22.3 |
Designated as hedging instrument | Operating expenses | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Amount and location of gain (loss) reclassified from accumulated other comprehensive income into income (effective portion) | 0.5 | (2.2) | (1.3) | (5.5) |
Designated as hedging instrument | Interest and other expense, net | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Amount and location of loss recognized in income on derivatives (ineffective portion and amount excluded from effectiveness testing) | (0.2) | (0.2) | (0.4) | (0.3) |
Derivatives not designated as hedging instruments | Interest and other expense, net | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Amount and location of (loss) gain recognized in income on derivatives | $ (3.9) | $ 2.1 | $ (10.9) | $ 0.7 |
Stock-based Compensation Expe47
Stock-based Compensation Expense Additional Information (Details) $ / shares in Units, $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2016USD ($) | Jul. 31, 2015USD ($) | Jul. 31, 2016USD ($)period$ / sharesshares | Jul. 31, 2015USD ($)$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Allocated share-based compensation expense | $ | $ 54.3 | $ 40.7 | $ 105.9 | $ 90.9 |
Restricted Stock Units (RSUs) and Performance Shares | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Awards vested in period, fair value | $ | $ 57.2 | 93.4 | ||
Awards granted in period | shares | 1,538,800 | |||
Restricted Stock Units (RSUs) | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Awards granted in period | shares | 1,100,000 | |||
Allocated share-based compensation expense | $ | 41.5 | 28 | $ 80.3 | 65.8 |
Performance Stock Unit | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Awards granted in period | shares | 400,000 | |||
Allocated share-based compensation expense | $ | $ 5.9 | $ 5.9 | $ 12.2 | $ 11.5 |
Award vesting period | 3 years | |||
Employee Qualified Stock Purchase Plan 1998 ESP Plan | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Employee stock purchase plan maximum percentage of compensation to purchase shares by eligible participants | 15.00% | |||
Employee stock purchase plan minimum percentage of common stock fair value defined to purchase shares by eligible participants | 85.00% | |||
Employee stock purchase plan, number of exercise periods | period | 4 | |||
Employee stock purchase plan, term of exercise period | 6 months | |||
Employee stock purchase plan, term of offering period | 24 months | |||
Shares issued under employee stock purchase plans (shares) | shares | 1,200,000 | 1,100,000 | ||
Awards issued, share average price (in usd per share) | $ / shares | $ 36.67 | $ 36.91 | ||
Weighted average grant date fair value per share of stock options granted (in dollars per share) | $ / shares | $ 17.88 | $ 15.99 | ||
Share-based Compensation Award, Tranche One | Performance Stock Unit | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
PSU Annual Vesting Percentage | 33.33% | |||
Share-based Compensation Award, Tranche Two | Performance Stock Unit | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
PSU Annual Vesting Percentage | 33.33% | |||
Share-based Compensation Award, Tranche Three | Performance Stock Unit | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
PSU Annual Vesting Percentage | 33.33% |
Stock-based Compensation Expe48
Stock-based Compensation Expense Summary of Restricted Stock Award and Restricted Stock Unit Activity (Details) - $ / shares | 6 Months Ended | ||
Jul. 31, 2016 | Jan. 31, 2016 | ||
Restricted Stock Units (RSUs) and Performance Shares | |||
Unvested Restricted Stock Units | |||
Unvested restricted stock units at January 31, 2016 (shares) | 7,739,600 | ||
Granted (shares) | 1,538,800 | ||
Vested (shares) | (1,008,000) | ||
Canceled/Forfeited (shares) | (475,700) | ||
Unvested restricted stock units at July 31, 2016 (shares) | 7,765,000 | ||
Weighted average grant date fair value per share | |||
Unvested restricted stock units at January 31, 2016 (usd per share) | $ 51.80 | ||
Granted (in usd per share) | 57.60 | ||
Vested (in usd per share) | 56 | ||
Canceled/Forfeited (in usd per share) | 51.70 | ||
Unvested restricted stock units at July 31, 2016 (usd per share) | $ 52.66 | ||
Performance Stock Unit | |||
Unvested Restricted Stock Units | |||
Granted (shares) | 400,000 | ||
Performance adjustment (shares) | [1] | (29,700) | |
Weighted average grant date fair value per share | |||
Performance adjustment (in usd per share) | [1] | $ 63.81 | |
Minimum | Restricted Stock Units (RSUs) and Performance Shares | |||
Weighted average grant date fair value per share | |||
Performance shares units payout | 86.10% | ||
Maximum | Restricted Stock Units (RSUs) and Performance Shares | |||
Weighted average grant date fair value per share | |||
Performance shares units payout | 98.00% | ||
[1] | Based on Autodesk's financial results and relative total stockholder return for the fiscal 2016 performance period. The performance stock units were attained at rates ranging from 86.1% to 98.0% of the target award. |
Stock-based Compensation Expe49
Stock-based Compensation Expense Stock Based Compensation Expense (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2016 | Jul. 31, 2015 | Jul. 31, 2016 | Jul. 31, 2015 | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Stock-based compensation expense related to stock awards and ESPP purchases | $ 54.3 | $ 40.7 | $ 105.9 | $ 90.9 |
Tax benefit | 0 | (10.5) | 0 | (24.5) |
Stock-based compensation expense related to stock awards and ESPP purchases, net of tax | 54.3 | 30.2 | 105.9 | 66.4 |
Cost of subscription | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Stock-based compensation expense related to stock awards and ESPP purchases | 1.7 | 1.2 | 3.5 | 2.6 |
Cost of license and other revenue | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Stock-based compensation expense related to stock awards and ESPP purchases | 1.7 | 1.2 | 3.3 | 2.7 |
Marketing and sales | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Stock-based compensation expense related to stock awards and ESPP purchases | 23.3 | 17.3 | 44.8 | 39 |
Research and development | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Stock-based compensation expense related to stock awards and ESPP purchases | 20.2 | 14.8 | 39.1 | 32.4 |
General and administrative | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Stock-based compensation expense related to stock awards and ESPP purchases | 7.4 | 6.2 | 15.2 | 14.2 |
Restricted Stock Units (RSUs) | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Stock-based compensation expense related to stock awards and ESPP purchases | $ 41.5 | $ 28 | $ 80.3 | $ 65.8 |
Stock-based Compensation Expe50
Stock-based Compensation Expense Assumption Used to Estimate the Fair Value of Stock-Based Awards (Details) | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2016 | Jul. 31, 2015 | Jul. 31, 2016 | Jul. 31, 2015 | |
Performance Stock Unit | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Range of expected volatilities | 27.30% | |||
Expected dividends | 0.00% | 0.00% | ||
Range of risk-free interest rates | 0.20% | |||
Performance Stock Unit | Minimum | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Range of expected volatilities | 38.40% | |||
Range of risk-free interest rates | 0.60% | |||
Performance Stock Unit | Maximum | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Range of expected volatilities | 38.60% | |||
Range of risk-free interest rates | 0.70% | |||
Employee Qualified Stock Purchase Plan 1998 ESP Plan | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Expected dividends | 0.00% | 0.00% | ||
Employee Qualified Stock Purchase Plan 1998 ESP Plan | Minimum | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Range of expected volatilities | 35.00% | 27.70% | ||
Range of expected lives (in years) | 6 months | 6 months | ||
Range of risk-free interest rates | 0.50% | 0.10% | ||
Employee Qualified Stock Purchase Plan 1998 ESP Plan | Maximum | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Range of expected volatilities | 40.20% | 28.20% | ||
Range of expected lives (in years) | 2 years | 2 years | ||
Range of risk-free interest rates | 0.90% | 0.60% |
Income Tax (Narrative) (Details
Income Tax (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jul. 31, 2016 | Apr. 30, 2016 | Jul. 31, 2015 | Jul. 31, 2016 | Jul. 31, 2015 | |
Income Tax Disclosure [Abstract] | |||||
Provision for income taxes | $ 25.2 | $ (14.4) | $ 269.5 | $ 39.6 | $ 272.2 |
(Loss) income before income taxes | (73) | $ 0.9 | (226.3) | $ 22.7 | |
Unrecognized tax benefits | 261.6 | 261.6 | |||
Unrecognized tax benefits that would impact effective tax rate | 246.9 | 246.9 | |||
Income tax settlement liability (refund) | $ 11.4 | $ 11.4 |
Income Tax (Error Corrections)
Income Tax (Error Corrections) (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 6 Months Ended | ||||
Jul. 31, 2016 | Apr. 30, 2016 | Jul. 31, 2015 | Jul. 31, 2016 | Jul. 31, 2015 | Jan. 31, 2016 | |
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||||
Provision for income taxes | $ (25.2) | $ 14.4 | $ (269.5) | $ (39.6) | $ (272.2) | |
Net loss | $ (98.2) | (167.7) | $ (268.6) | $ (265.9) | $ (249.5) | |
Basic net loss per share (in usd per share) | $ (0.44) | $ (1.18) | $ (1.19) | $ (1.10) | ||
Current deferred tax liabilities | $ 9.5 | $ 9.5 | ||||
Accrued income taxes | $ 54.1 | 22.9 | $ 54.1 | 22.9 | $ 29.4 | |
Long-term deferred tax liabilities | 66.6 | 54 | 66.6 | 54 | 67.7 | |
Long-term income tax payable | 42.7 | 37.3 | 160.2 | 42.7 | 160.2 | 161.4 |
Retained earnings | $ (395.6) | (193.3) | 131.3 | $ (395.6) | 131.3 | $ (80.8) |
Scenario, Previously Reported | ||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||||
Provision for income taxes | 14.4 | (236.4) | (239.1) | |||
Net loss | (173) | $ (235.5) | $ (216.4) | |||
Basic net loss per share (in usd per share) | $ (1.04) | $ (0.95) | ||||
Current deferred tax liabilities | $ 8.3 | $ 8.3 | ||||
Accrued income taxes | 52.3 | 52.3 | ||||
Long-term deferred tax liabilities | 28.9 | 28.9 | ||||
Long-term income tax payable | 153.8 | 124 | 124 | |||
Retained earnings | $ (308.2) | 164.4 | 164.4 | |||
Restatement Adjustment | ||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||||
Provision for income taxes | (33.1) | (33.1) | ||||
Net loss | $ (33.1) | $ (33.1) | ||||
Basic net loss per share (in usd per share) | $ (0.14) | $ (0.15) | ||||
Current deferred tax liabilities | $ 1.2 | $ 1.2 | ||||
Accrued income taxes | (29.4) | (29.4) | ||||
Long-term deferred tax liabilities | 25.1 | 25.1 | ||||
Long-term income tax payable | 36.2 | 36.2 | ||||
Retained earnings | $ (33.1) | $ (33.1) |
Acquisition (Details)
Acquisition (Details) $ in Millions | 6 Months Ended |
Jul. 31, 2016USD ($) | |
Series of Individually Immaterial Business Acquisitions | |
Business Acquisition [Line Items] | |
Consideration | $ 87 |
Acquisitions Summary of Fair Va
Acquisitions Summary of Fair Value of Assets Acquired and Liabilities Assumed by Major Class (Details) - USD ($) $ in Millions | Jul. 31, 2016 | Jan. 31, 2016 |
Business Acquisition [Line Items] | ||
Goodwill | $ 1,597.4 | $ 1,535 |
Series of Individually Immaterial Business Acquisitions | ||
Business Acquisition [Line Items] | ||
Goodwill | 62.8 | |
Deferred revenue (current and non-current) | (2.1) | |
Deferred tax liability | (7.1) | |
Net tangible assets | 0.6 | |
Total | 87 | |
Series of Individually Immaterial Business Acquisitions | Developed technologies | ||
Business Acquisition [Line Items] | ||
Finite-lived intangibles | 18.8 | |
Series of Individually Immaterial Business Acquisitions | Customer relationships and other non-current intangible assets | ||
Business Acquisition [Line Items] | ||
Finite-lived intangibles | 10.2 | |
Series of Individually Immaterial Business Acquisitions | Trade name | ||
Business Acquisition [Line Items] | ||
Finite-lived intangibles | $ 3.8 |
Other Intangible Assets and Rel
Other Intangible Assets and Related Accumulated Amortization (Details) - USD ($) $ in Millions | Jul. 31, 2016 | Jan. 31, 2016 | |
Finite-Lived Intangible Assets [Line Items] | |||
Other intangible assets, at cost | [1] | $ 972.4 | $ 943 |
Less: Accumulated amortization | (832.3) | (796.2) | |
Other intangible assets, net | 140.1 | 146.8 | |
Developed technologies, at cost | |||
Finite-Lived Intangible Assets [Line Items] | |||
Other intangible assets, at cost | 587.6 | 571.4 | |
Customer relationships, trade names, patents, and user list, at cost | |||
Finite-Lived Intangible Assets [Line Items] | |||
Other intangible assets, at cost | [2] | $ 384.8 | $ 371.6 |
[1] | Includes the effects of foreign currency translation. | ||
[2] | Included in “Other assets” in the accompanying Condensed Consolidated Balance Sheets. |
Goodwill Changes in the Carryin
Goodwill Changes in the Carrying Amount of Goodwill (Details) - USD ($) $ in Millions | 6 Months Ended | |
Jul. 31, 2016 | Jan. 31, 2016 | |
Goodwill [Roll Forward] | ||
Goodwill before accumulated impairment losses beginning balance | $ 1,684.2 | |
Accumulated impairment losses | (149.2) | $ (149.2) |
Goodwill | 1,597.4 | 1,535 |
Effect of foreign currency translation, purchase accounting adjustments, and other | (0.4) | |
Goodwill before accumulated impairment losses ending balance | 1,746.6 | |
Platform Solutions and Emerging Business | ||
Goodwill [Roll Forward] | ||
Goodwill before accumulated impairment losses beginning balance | 386.9 | |
Accumulated impairment losses | 0 | 0 |
Goodwill | 405 | 386.9 |
Effect of foreign currency translation, purchase accounting adjustments, and other | 0.7 | |
Goodwill before accumulated impairment losses ending balance | 405 | |
Architecture, Engineering and Construction | ||
Goodwill [Roll Forward] | ||
Goodwill before accumulated impairment losses beginning balance | 427.2 | |
Accumulated impairment losses | 0 | 0 |
Goodwill | 429.2 | 427.2 |
Effect of foreign currency translation, purchase accounting adjustments, and other | 2 | |
Goodwill before accumulated impairment losses ending balance | 429.2 | |
Manufacturing | ||
Goodwill [Roll Forward] | ||
Goodwill before accumulated impairment losses beginning balance | 613.9 | |
Accumulated impairment losses | 0 | 0 |
Goodwill | 624 | 613.9 |
Effect of foreign currency translation, purchase accounting adjustments, and other | (3.5) | |
Goodwill before accumulated impairment losses ending balance | 624 | |
Media and Entertainment | ||
Goodwill [Roll Forward] | ||
Goodwill before accumulated impairment losses beginning balance | 256.2 | |
Accumulated impairment losses | (149.2) | (149.2) |
Goodwill | 139.2 | $ 107 |
Effect of foreign currency translation, purchase accounting adjustments, and other | 0.4 | |
Goodwill before accumulated impairment losses ending balance | 288.4 | |
Other | ||
Goodwill [Roll Forward] | ||
Goodwill | 62.8 | |
Addition arising from other acquisitions | 62.8 | |
Other | Platform Solutions and Emerging Business | ||
Goodwill [Roll Forward] | ||
Addition arising from other acquisitions | 17.4 | |
Other | Architecture, Engineering and Construction | ||
Goodwill [Roll Forward] | ||
Addition arising from other acquisitions | 0 | |
Other | Manufacturing | ||
Goodwill [Roll Forward] | ||
Addition arising from other acquisitions | 13.6 | |
Other | Media and Entertainment | ||
Goodwill [Roll Forward] | ||
Addition arising from other acquisitions | $ 31.8 |
Deferred Compensation Additiona
Deferred Compensation Additional Information (Details) - USD ($) $ in Millions | Jul. 31, 2016 | Jan. 31, 2016 |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ||
Marketable securities | $ 1,100 | |
Rabbi Trust Member | ||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ||
Deferred compensation liability | 45.6 | $ 38 |
Deferred compensation liability current | 2.1 | 1.9 |
Deferred compensation liability non-current | $ 43.5 | $ 36.1 |
Computer Equipment, Software,58
Computer Equipment, Software, Furniture and Leasehold Improvements, Net (Details) - USD ($) $ in Millions | Jul. 31, 2016 | Jan. 31, 2016 |
Property, Plant and Equipment [Line Items] | ||
Computer software, hardware, leasehold improvements, furniture and equipment, gross | $ 566.6 | $ 550.2 |
Less: Accumulated depreciation | (393.6) | (380.9) |
Computer software, hardware, leasehold improvements, furniture and equipment, net | 173 | 169.3 |
Computer hardware, at cost | ||
Property, Plant and Equipment [Line Items] | ||
Computer software, hardware, leasehold improvements, furniture and equipment, gross | 211.3 | 202.7 |
Computer software, at cost | ||
Property, Plant and Equipment [Line Items] | ||
Computer software, hardware, leasehold improvements, furniture and equipment, gross | 94.2 | 85.6 |
Leasehold improvements, land and buildings, at cost | ||
Property, Plant and Equipment [Line Items] | ||
Computer software, hardware, leasehold improvements, furniture and equipment, gross | 202.1 | 202.9 |
Furniture and equipment, at cost | ||
Property, Plant and Equipment [Line Items] | ||
Computer software, hardware, leasehold improvements, furniture and equipment, gross | $ 59 | $ 59 |
Borrowing Arrangements Addition
Borrowing Arrangements Additional Information (Details) - USD ($) | 1 Months Ended | 6 Months Ended | |
Jun. 30, 2015 | Dec. 31, 2012 | Jul. 31, 2016 | |
Debt Instrument [Line Items] | |||
Line of credit facility, maximum borrowing capacity | $ 400,000,000 | ||
Line of credit facility, additional borrowings available | $ 100,000,000 | ||
Line of credit facility, expiration date | May 31, 2020 | ||
Line of credit facility, outstanding borrowings | $ 0 | ||
Senior Notes | Senior Notes due 2020 | |||
Debt Instrument [Line Items] | |||
Debt instrument, face amount | $ 450,000,000 | ||
Debt instrument, stated interest rate | 3.125% | ||
Senior Notes | Senior Notes due 2025 | |||
Debt Instrument [Line Items] | |||
Debt instrument, face amount | $ 300,000,000 | ||
Debt instrument, stated interest rate | 4.375% | ||
Senior Notes | 2015 Senior Notes | |||
Debt Instrument [Line Items] | |||
Debt instrument, unamortized discount | $ 1,700,000 | ||
Debt issuance cost | 6,300,000 | ||
Proceeds from debt, net of issuance costs | $ 742,000,000 | ||
Debt issuance redemption discount premium, percentage of principle amount | 101.00% | ||
Debt fair value | 791,800,000 | ||
Senior Notes | Senior Notes 2017 | |||
Debt Instrument [Line Items] | |||
Debt instrument, face amount | $ 400,000,000 | ||
Debt instrument, stated interest rate | 1.95% | ||
Senior Notes | Senior Notes 2022 | |||
Debt Instrument [Line Items] | |||
Debt instrument, face amount | $ 350,000,000 | ||
Debt instrument, stated interest rate | 3.60% | ||
Senior Notes | 2012 Senior Notes | |||
Debt Instrument [Line Items] | |||
Debt instrument, unamortized discount | $ 4,500,000 | ||
Debt issuance cost | 6,100,000 | ||
Proceeds from debt, net of issuance costs | $ 739,300,000 | ||
Debt issuance redemption discount premium, percentage of principle amount | 101.00% | ||
Debt fair value | $ 763,100,000 |
Restructuring (Details)
Restructuring (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||||||
Jul. 31, 2016 | Jul. 31, 2015 | Jul. 31, 2016 | Jul. 31, 2015 | Jul. 31, 2016 | Feb. 29, 2016 | Jan. 31, 2016 | ||
Restructuring Cost and Reserve [Line Items] | ||||||||
Restructuring costs expected completion date | 2,017 | |||||||
Restructuring Reserve [Roll Forward] | ||||||||
Beginning Balance | $ 0 | |||||||
Additions | $ 16 | $ 0 | 68.3 | $ 0 | ||||
Payments | (50.7) | |||||||
Adjustments | [1] | (5.4) | ||||||
Ending Balance | 12.2 | 12.2 | ||||||
Current portion | [2] | $ 10.3 | $ 0 | |||||
Non-current portion | [2] | 1.9 | 0 | |||||
Total Restructuring Reserve | 12.2 | 0 | 12.2 | 0 | ||||
Lease termination and other exit costs | ||||||||
Restructuring Reserve [Roll Forward] | ||||||||
Beginning Balance | 0 | |||||||
Additions | 7.4 | |||||||
Payments | (0.2) | |||||||
Adjustments | [1] | (3.5) | ||||||
Ending Balance | 3.7 | 3.7 | ||||||
Total Restructuring Reserve | 3.7 | 0 | 3.7 | 0 | ||||
Fiscal 2017 Plan | Employee termination costs | ||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||
Expected cost | $ 69 | |||||||
Restructuring Reserve [Roll Forward] | ||||||||
Beginning Balance | 0 | |||||||
Additions | 8 | 55.7 | ||||||
Payments | (48.4) | |||||||
Adjustments | [1] | 0 | ||||||
Ending Balance | 7.3 | 7.3 | ||||||
Total Restructuring Reserve | 7.3 | 0 | 7.3 | 0 | ||||
Fiscal 2017 Plan | Lease termination and other exit costs | ||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||
Expected cost | $ 10 | |||||||
Restructuring Reserve [Roll Forward] | ||||||||
Beginning Balance | 0 | |||||||
Additions | 0.6 | 5.2 | ||||||
Payments | (2.1) | |||||||
Adjustments | [1] | (1.9) | ||||||
Ending Balance | 1.2 | 1.2 | ||||||
Total Restructuring Reserve | $ 1.2 | $ 0 | $ 1.2 | $ 0 | ||||
[1] | Adjustments include the impact of computer equipment, software, furniture, straight-line rent and leasehold improvement write-offs, and foreign currency translation. | |||||||
[2] | The current and non-current portions of the reserve are recorded in the Condensed Consolidated Balance Sheets under “Other accrued liabilities” and “Other liabilities,” respectively. |
Common Stock Repurchase Progr61
Common Stock Repurchase Program Additional Information (Details) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended |
Jul. 31, 2016USD ($)$ / sharesshares | Jul. 31, 2016USD ($)$ / sharesshares | |
Common Stock | ||
Equity, Class of Treasury Stock [Line Items] | ||
Repurchased shares of its common stock on the open market, value | $ | $ 65.8 | $ 111.5 |
Retained Earnings | ||
Equity, Class of Treasury Stock [Line Items] | ||
Repurchased shares of its common stock on the open market, value | $ | $ 104.1 | $ 158.5 |
Common Stock Repurchase Program | ||
Equity, Class of Treasury Stock [Line Items] | ||
Common stock repurchased and retired (in shares) | shares | 3 | 4.8 |
Repurchased shares of its common stock on the open market, average repurchase price per share (in usd per share) | $ / shares | $ 55.88 | $ 56.20 |
Common Stock shares remained available for repurchase under repurchase plans (in shares) | shares | 1.5 | 1.5 |
Accumulated Other Comprehensi62
Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2016 | Jul. 31, 2015 | Jul. 31, 2016 | Jul. 31, 2015 | |
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Balances, January 31, 2016 | $ (121.1) | |||
Other comprehensive (loss) income before reclassifications | (1.2) | |||
Pre-tax (gains) losses reclassified from accumulated other comprehensive loss | (5.9) | |||
Tax effects | (1.6) | |||
Total other comprehensive loss | $ (8.3) | $ (14.3) | (8.7) | $ (17) |
Balances, July 31, 2016 | (129.8) | (129.8) | ||
Net Unrealized Gains (Losses) on Derivative Instruments | ||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Balances, January 31, 2016 | 15.7 | |||
Other comprehensive (loss) income before reclassifications | (4.1) | |||
Pre-tax (gains) losses reclassified from accumulated other comprehensive loss | (6.1) | |||
Tax effects | (0.8) | |||
Total other comprehensive loss | (11) | |||
Balances, July 31, 2016 | 4.7 | 4.7 | ||
Net Unrealized Gains (Losses) on Available-for-Sale Securities | ||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Balances, January 31, 2016 | 0.2 | |||
Other comprehensive (loss) income before reclassifications | 4.5 | |||
Pre-tax (gains) losses reclassified from accumulated other comprehensive loss | (0.5) | |||
Tax effects | (0.6) | |||
Total other comprehensive loss | 3.4 | |||
Balances, July 31, 2016 | 3.6 | 3.6 | ||
Defined Benefit Pension Components | ||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Balances, January 31, 2016 | (28.3) | |||
Other comprehensive (loss) income before reclassifications | (0.2) | |||
Pre-tax (gains) losses reclassified from accumulated other comprehensive loss | 0.7 | |||
Tax effects | (0.2) | |||
Total other comprehensive loss | 0.3 | |||
Balances, July 31, 2016 | (28) | (28) | ||
Foreign Currency Translation Adjustments | ||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Balances, January 31, 2016 | (108.7) | |||
Other comprehensive (loss) income before reclassifications | (1.4) | |||
Pre-tax (gains) losses reclassified from accumulated other comprehensive loss | 0 | |||
Tax effects | 0 | |||
Total other comprehensive loss | (1.4) | |||
Balances, July 31, 2016 | $ (110.1) | $ (110.1) |
Net Income Per Share (Details)
Net Income Per Share (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 6 Months Ended | ||||
Jul. 31, 2016 | Apr. 30, 2016 | Jul. 31, 2015 | Jul. 31, 2016 | Jul. 31, 2015 | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||||
Net loss | $ (98.2) | $ (167.7) | $ (268.6) | $ (265.9) | $ (249.5) | |
Denominator: | ||||||
Denominator for basic net loss per share—weighted average shares (shares) | 223,200,000 | 227,000,000 | 223,800,000 | 227,100,000 | ||
Effect of dilutive securities (shares) | [1] | 0 | 0 | 0 | 0 | |
Denominator for dilutive net loss per share (shares) | 223,200,000 | 227,000,000 | 223,800,000 | 227,100,000 | ||
Basic net loss per share (in usd per share) | $ (0.44) | $ (1.18) | $ (1.19) | $ (1.10) | ||
Diluted net loss per share (in usd per share) | $ (0.44) | $ (1.18) | $ (1.19) | $ (1.10) | ||
Potentially dilutive shares excluded from the computation of diluted net income per share (shares) | 4,200,000 | 4,100,000 | 4,000,000 | 4,500,000 | ||
Exercise Price Higher than Average Market Value | ||||||
Denominator: | ||||||
Potentially dilutive shares excluded from the computation of diluted net income per share (shares) | 0 | 600,000 | 100,000 | 100,000 | ||
[1] | The effect of dilutive securities of 4.2 million shares and 4.1 million shares for the three months ended July 31, 2016 and 2015, 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 periods. The effect of dilutive securities of 4.0 million and 4.5 million shares for the six months ended July 31, 2016 and 2015, 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 periods. |
Segments Concerning the Operati
Segments Concerning the Operations Of Reportable Segments (Details) $ in Millions | 3 Months Ended | 6 Months Ended | ||||
Jul. 31, 2016USD ($) | Apr. 30, 2016USD ($) | Jul. 31, 2015USD ($) | Jul. 31, 2016USD ($)segment | Jul. 31, 2015USD ($) | ||
Segment Reporting Information [Line Items] | ||||||
Number of reportable segments | segment | 4 | |||||
Net revenue | $ 550.7 | $ 609.5 | $ 1,062.6 | $ 1,256 | ||
Gross profit | 465.6 | $ 419.5 | 516.5 | 885.1 | 1,071.2 | |
Segments | ||||||
Segment Reporting Information [Line Items] | ||||||
Net revenue | 550.7 | 609.5 | 1,062.6 | 1,256 | ||
Unallocated | ||||||
Segment Reporting Information [Line Items] | ||||||
Gross profit | (14.1) | (14.4) | (28.4) | (30.8) | [1] | |
Architecture, Engineering and Construction | Segments | ||||||
Segment Reporting Information [Line Items] | ||||||
Net revenue | 253.2 | 233.4 | 472.1 | 470.1 | ||
Gross profit | 229.1 | 209.5 | 422.7 | 426.5 | ||
Manufacturing | Segments | ||||||
Segment Reporting Information [Line Items] | ||||||
Net revenue | 176.9 | 171.2 | 334.9 | 355.8 | ||
Gross profit | 156.4 | 151.2 | 292.5 | 309.3 | ||
Platform Solutions and Emerging Business | Segments | ||||||
Segment Reporting Information [Line Items] | ||||||
Net revenue | 86.2 | 164.1 | 186.2 | 349.4 | ||
Gross profit | 65.5 | 138.5 | 141.6 | 301.8 | ||
Media and Entertainment | Segments | ||||||
Segment Reporting Information [Line Items] | ||||||
Net revenue | 34.4 | 40.8 | 69.4 | 80.7 | ||
Gross profit | $ 28.7 | $ 31.7 | $ 56.7 | $ 64.4 | ||
[1] | Unallocated amounts primarily relate to corporate expenses and other costs and expenses that are managed outside the reportable segments, including stock-based compensation expense. |
Segments Information Regarding
Segments Information Regarding Operations by Geographic Area (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2016 | Jul. 31, 2015 | Jul. 31, 2016 | Jul. 31, 2015 | |
Segment Reporting Information [Line Items] | ||||
Net revenue | $ 550.7 | $ 609.5 | $ 1,062.6 | $ 1,256 |
Americas | ||||
Segment Reporting Information [Line Items] | ||||
Net revenue | 230.1 | 235.7 | 447.8 | 479.7 |
Americas | U.S. | ||||
Segment Reporting Information [Line Items] | ||||
Net revenue | 195.2 | 194.5 | 379.9 | 394.1 |
Americas | Other Americas | ||||
Segment Reporting Information [Line Items] | ||||
Net revenue | 34.9 | 41.2 | 67.9 | 85.6 |
Europe, Middle East and Africa | ||||
Segment Reporting Information [Line Items] | ||||
Net revenue | 220.5 | 225.7 | 423.1 | 471.1 |
Asia Pacific | ||||
Segment Reporting Information [Line Items] | ||||
Net revenue | 100.1 | 148.1 | 191.7 | 305.2 |
Asia Pacific | Japan | ||||
Segment Reporting Information [Line Items] | ||||
Net revenue | 36.8 | 50.7 | 74.1 | 115.8 |
Asia Pacific | Other Asia Pacific | ||||
Segment Reporting Information [Line Items] | ||||
Net revenue | $ 63.3 | $ 97.4 | $ 117.6 | $ 189.4 |