Cash Flow Statement

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Autodesk Inc., consolidated cash flow statement

US$ in millions

12 months ended:	Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020	Jan 31, 2019
Net income (loss)	906)	823)	497)	1,208)	215)	(81)
Depreciation, amortization, and accretion	139)	150)	148)	124)	127)	95)
Stock-based compensation expense	703)	657)	555)	398)	362)	250)
Deferred income taxes	(86)	(277)	(8)	(779)	10)	(7)
Lease-related asset impairments	14)	34)	104)	—)	—)	—)
Restructuring and other exit costs, net	—)	—)	—)	—)	1)	32)
Other operating activities	(52)	(8)	18)	39)	(12)	2)
Accounts receivable	86)	(247)	(66)	13)	(179)	(25)
Prepaid expenses and other assets	(77)	(3)	(134)	(56)	59)	8)
Accounts payable and accrued liabilities	(12)	(5)	10)	130)	(91)	(59)
Deferred revenue	(316)	798)	419)	344)	917)	197)
Accrued income taxes	8)	149)	(12)	16)	6)	(35)
Changes in operating assets and liabilities, net of business combinations	(311)	692)	217)	447)	712)	86)
Adjustments to reconcile net income (loss) to net cash provided by operating activities	407)	1,248)	1,034)	229)	1,201)	458)
Net cash provided by operating activities	1,313)	2,071)	1,531)	1,437)	1,415)	377)
Purchases of marketable securities	(1,110)	(397)	(311)	(21)	(20)	(138)
Sales of marketable securities	277)	152)	12)	—)	22)	320)
Maturities of marketable securities	487)	298)	26)	17)	5)	211)
Purchases of intangible assets	(30)	(6)	(11)	(5)	—)	—)
Business combinations, net of cash acquired	(70)	(96)	(1,250)	(246)	—)	(1,040)
Capital expenditures	(31)	(40)	(56)	(91)	(53)	(67)
Other investing activities	(25)	(54)	(5)	(58)	(12)	4)
Net cash used in investing activities	(502)	(143)	(1,595)	(404)	(57)	(710)
Proceeds from issuance of common stock, net of issuance costs	130)	124)	114)	114)	94)	91)
Taxes paid related to net share settlement of equity awards	(187)	(160)	(194)	(157)	(113)	(143)
Repurchase and retirement of common stock	(795)	(1,101)	(1,079)	(552)	(443)	(294)
Proceeds from debt, net of discount	—)	—)	997)	—)	499)	500)
Repayments of debt	—)	(350)	—)	(450)	(500)	—)
Other financing activities	—)	—)	(7)	(3)	(4)	(2)
Net cash provided by (used in) financing activities	(852)	(1,487)	(169)	(1,047)	(467)	152)
Effect of exchange rate changes on cash and cash equivalents	(14)	(22)	(12)	11)	(2)	(11)
Net increase (decrease) in cash and cash equivalents	(55)	419)	(244)	(3)	889)	(192)
Cash and cash equivalents at beginning of fiscal year	1,947)	1,528)	1,772)	1,775)	886)	1,078)
Cash and cash equivalents at end of fiscal year	1,892)	1,947)	1,528)	1,772)	1,775)	886)

Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31).

The cash flow profile exhibits a transition from initial volatility to a period of significant operational cash generation, followed by a recent contraction in the most recent fiscal year. Operating cash flows grew substantially from 377 million US dollars in 2019 to a peak of 2.07 billion US dollars in 2023, before declining to 1.31 billion US dollars in 2024.

Operating Cash Flow Drivers: Net income demonstrated a strong recovery from a loss of 81 million US dollars in 2019 to 906 million US dollars in 2024. A significant portion of the cash provided by operations is attributed to non-cash adjustments, most notably stock-based compensation, which increased steadily from 250 million US dollars in 2019 to 703 million US dollars in 2024.; Working capital fluctuations have had a material impact on liquidity. Specifically, deferred revenue showed significant volatility, acting as a major cash source in 2020 and 2023, but becoming a cash drain of 316 million US dollars in 2024, which contributed to the overall decrease in net cash provided by operating activities for that period.
Investing Activities and Capital Allocation: Investing activities are characterized by periodic large-scale business combinations, with major cash outflows occurring in 2019 (1.04 billion US dollars) and 2022 (1.25 billion US dollars). Capital expenditures have remained relatively low and stable, trending downward from 67 million US dollars in 2019 to 31 million US dollars in 2024.; A shift in liquidity management is evident in the most recent year, as purchases of marketable securities increased sharply to 1.11 billion US dollars in 2024, compared to significantly lower levels in previous years.
Financing Activities and Shareholder Returns: The financing strategy is dominated by aggressive share repurchases, which accelerated from 294 million US dollars in 2019 to a peak of 1.10 billion US dollars in 2023. This indicates a consistent commitment to returning capital to shareholders.; Debt management has been opportunistic, with significant proceeds from debt issuance in 2019, 2020, and 2022 to support operations or acquisitions, balanced by intermittent repayments of debt in 2020, 2021, and 2023.

The ending cash and cash equivalents position remained resilient throughout the period, closing at 1.89 billion US dollars in 2024. This stability is the result of balancing strong operational cash flows against substantial shareholder returns and strategic investments in business combinations and marketable securities.

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Autodesk Inc. (NASDAQ:ADSK)

Cash Flow Statement