Exhibit 99.1
Autodesk, Inc.
Condensed Consolidated Statements of Cash Flows
(In thousands)
Six Months Ended July 31, | ||||||||
| 2004 | 2003 | |||||||
| (Unaudited) | ||||||||
Operating Activities | ||||||||
Net income | $ | 81,670 | $ | 40,110 | ||||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||
Depreciation and amortization | 25,372 | 24,129 | ||||||
Stock compensation expense | 377 | 1,013 | ||||||
Net loss on fixed asset disposals | 282 | — | ||||||
Write-downs of cost method investments | — | 26 | ||||||
Tax benefits from employee stock plans | 24,414 | — | ||||||
Restructuring related charges, net | 5,648 | — | ||||||
Changes in operating assets and liabilities | 884 | (17,707 | ) | |||||
Net cash provided by operating activities | 138,647 | 47,571 | ||||||
Investing Activities | ||||||||
Net sales and maturities of available-for-sale marketable securities | 20,165 | 30,839 | ||||||
Capital and other expenditures | (15,775 | ) | (13,865 | ) | ||||
Business combinations, net of cash acquired | (11,750 | ) | (5,150 | ) | ||||
Other investing activities | (1,490 | ) | 1,448 | |||||
Net cash (used in) provided by investing activities | (8,850 | ) | 13,272 | |||||
Financing activities | ||||||||
Proceeds from issuance of common stock, net of issuance costs | 160,879 | 21,467 | ||||||
Repurchase of common stock | (216,410 | ) | (45,671 | ) | ||||
Dividends paid | (6,741 | ) | (6,680 | ) | ||||
Net cash used in financing activities | (62,272 | ) | (30,884 | ) | ||||
Effect of exchange rate changes on cash and cash equivalents | (3,803 | ) | 3,088 | |||||
Net increase in cash and cash equivalents | 63,722 | 33,047 | ||||||
Cash and cash equivalents at beginning of year | 282,249 | 186,377 | ||||||
Cash and cash equivalents at end of period | $ | 345,971 | $ | 219,424 | ||||
Supplemental cash flow information: | ||||||||
Net cash paid (received) during the period for income taxes | $ | 7,365 | $ | (573 | ) | |||
