XML 20 R11.htm IDEA: XBRL DOCUMENT
v3.22.1

Financial Instruments | 3 Months Ended
--- | ---
Apr. 30, 2022
Investments, All Other Investments [Abstract] |
Financial Instruments | Financial Instruments The following tables summarize the Company's financial instruments' by significant investment category as of April 30, 2022, and January 31, 2022:
| April 30, 2022 |  |  |  |  |
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value |  |  |  |  |
Cash equivalents (1): |  |  |  |  |  |  |  |  |  |  |  |
Money market funds | $ | 531 |  |  | $ | — |  |  | $ | — |  |  | $ | 531 |  |  |  |  |  |
Commercial paper | 117 |  |  | — |  |  | — |  |  | 117 |  |  |  |  |  |
U.S. government securities | 20 |  |  | — |  |  | — |  |  | 20 |  |  |  |  |  |
Agency discount notes | 8 |  |  | — |  |  | — |  |  | 8 |  |  |  |  |  |
Other (2) | 8 |  |  | — |  |  | — |  |  | 8 |  |  |  |  |  |
Marketable securities: |  |  |  |  |  |  |  |  |  |  |  |
Short-term |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt securities | 28 |  |  | — |  |  | — |  |  | 28 |  |  |  |  |  |
Asset backed securities | 20 |  |  | — |  |  | — |  |  | 20 |  |  |  |  |  |
Certificates of deposit | 10 |  |  | — |  |  | — |  |  | 10 |  |  |  |  |  |
Commercial paper | 6 |  |  | — |  |  | — |  |  | 6 |  |  |  |  |  |
Other (3) | 1 |  |  | 2 |  |  | — |  |  | 3 |  |  |  |  |  |
Long-term |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt securities | 39 |  |  | — |  |  | — |  |  | 39 |  |  |  |  |  |
Mutual funds (4) (5) | 78 |  |  | 8 |  |  | (1) |  |  | 85 |  |  |  |  |  |
Convertible debt securities (5) | 3 |  |  | — |  |  | — |  |  | 3 |  |  |  |  |  |
Total | $ | 869 |  |  | $ | 10 |  |  | $ | (1) |  |  | $ | 878 |  |  |  |  |  |
___________________ (1)Included in “Cash and cash equivalents” in the accompanying Condensed Consolidated Balance Sheets. These investments are classified as debt securities. (2)Consists of custody cash deposits, sovereign bonds, asset backed securities, and certificates of deposit. (3)Consists of common stock and municipal bonds. (4)See Note 12, “Deferred Compensation” for more information. (5)Included in “Prepaid expenses and other current assets” or “Long-term other assets” in the accompanying Condensed Consolidated Balance Sheets.
| January 31, 2022
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value |  |  |  |  |  |
Cash equivalents (1): |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds | $ | 302 |  |  | $ | — |  |  | $ | — |  |  | $ | 302 |  |  |  |  |  |  |
Commercial paper | 55 |  |  | — |  |  | — |  |  | 55 |  |  |  |  |  |  |
U.S government securities | 25 |  |  | — |  |  | — |  |  | 25 |  |  |  |  |  |  |
Custody cash deposit | 18 |  |  | — |  |  | — |  |  | 18 |  |  |  |  |  |  |
Corporate debt securities | 18 |  |  | — |  |  | — |  |  | 18 |  |  |  |  |  |  |
Certificates of deposit | 6 |  |  | — |  |  | — |  |  | 6 |  |  |  |  |  |  |
Other (2) | 4 |  |  | — |  |  | — |  |  | 4 |  |  |  |  |  |  |
Marketable securities: |  |  |  |  |  |  |  |  |  |  |  |  |
Short-term |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial paper | 103 |  |  | — |  |  | — |  |  | 103 |  |  |  |  |  |  |
Corporate debt securities | 61 |  |  | — |  |  | — |  |  | 61 |  |  |  |  |  |  |
Asset backed securities | 26 |  |  | — |  |  | — |  |  | 26 |  |  |  |  |  |  |
Certificate of deposit | 14 |  |  | — |  |  | — |  |  | 14 |  |  |  |  |  |  |
U.S. government securities | 13 |  |  | — |  |  | — |  |  | 13 |  |  |  |  |  |  |
Municipal bonds | 11 |  |  | — |  |  | — |  |  | 11 |  |  |  |  |  |  |
Common Stock | — |  |  | 4 |  |  | — |  |  | 4 |  |  |  |  |  |  |
Other (3) | 4 |  |  | — |  |  | — |  |  | 4 |  |  |  |  |  |  |
Long-term |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt securities | 44 |  |  | — |  |  | — |  |  | 44 |  |  |  |  |  |  |
Other (4) | 1 |  |  | — |  |  | — |  |  | 1 |  |  |  |  |  |  |
Mutual funds (5) (6) | 74 |  |  | 16 |  |  | (1) |  |  | 89 |  |  |  |  |  |  |
Total | $ | 779 |  |  | $ | 20 |  |  | $ | (1) |  |  | $ | 798 |  |  |  |  |  |  |
____________________ (1)Included in “Cash and cash equivalents” in the accompanying Condensed Consolidated Balance Sheets. These investments are classified as debt securities. (2)Consists of sovereign bonds and municipal bonds. (3)Consists of sovereign bonds and supranational bonds. (4)Consists of asset backed securities. (5)See Note 12, “Deferred Compensation” for more information. (6)Included in “Prepaid expenses and other current assets,” or “Long-term other assets,” in the accompanying Condensed Consolidated Balance Sheets. The following table summarizes the fair values of investments classified as marketable debt securities by contractual maturity date as of April 30, 2022:
| Fair Value
Due within 1 year | $ | 33 |
Due in 1 year through 5 years | 71 |
Total | $ | 104 |
As of both April 30, 2022, and January 31, 2022, Autodesk had no material unrealized losses, individually and in the aggregate, for marketable debt securities that are in a continuous unrealized loss position for greater than 12 months. Total unrealized gains for securities with net gains in accumulated other comprehensive income were not material for the three months ended April 30, 2022. Autodesk monitors all marketable debt securities for potential credit losses by reviewing indicators such as, but not limited to, current credit rating, change in credit rating, credit outlook, and default risk. There were no allowances for credit losses as of both April 30, 2022, and January 31, 2022. There were no write offs of accrued interest receivables for both the three months ended April 30, 2022 and 2021. There was no realized gain or loss for the sales or redemptions of marketable debt securities during both the three months ended April 30, 2022 and 2021. Realized gains and losses from the sales or redemptions of marketable debt 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 debt securities were as follows:
| Three Months Ended April 30,
| 2022 |  | 2021
Marketable debt securities | $ | 202 |  |  | $ | 4 |
Strategic investment equity securities As of April 30, 2022, and January 31, 2022, Autodesk had $157 million and $134 million, respectively, in direct investments in privately held companies. These strategic investment equity securities do not have readily determined fair values, and Autodesk uses the measurement alternative to account for the adjustment to these investments in a given quarter. If Autodesk determines that an impairment has occurred, Autodesk writes down the investment to its fair value. Adjustments to the carrying value of our strategic investment equity securities with no readily determined fair values measured using the measurement alternative are included in “Interest and other expense, net” on the Company's Condensed Consolidated Statements of Operations. These adjustments were as follows:
| Three Months Ended April 30, |  | Cumulative Amount as of |  |
| 2022 |  | 2021 |  | April 30, 2022 |  |  |  |
Upward adjustments | $ | — |  |  | $ | 1 |  |  | $ | 23 |  |  |  |  |
Negative adjustments, including impairments | (2) |  |  | (4) |  |  | (79) |  |  |  |  |
Net adjustments | $ | (2) |  |  | $ | (3) |  |  | $ | (56) |  |  |  |  |
During the three months ended April 30, 2022, Autodesk recognized no gains on the disposition of strategic investment equity securities. During the three months ended April 30, 2021, Autodesk recognized gains of $8 million on the disposition of strategic investment equity securities. Fair Value Autodesk applies fair value accounting for certain financial assets and liabilities, which consist of cash equivalents, marketable securities, and other financial instruments, 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. The following tables summarize the Company's financial instruments measured at fair value on a recurring basis by significant investment category as of April 30, 2022, and January 31, 2022:
|  |  |  |  |  |  |  | April 30, 2022
|  |  |  |  |  |  |  |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents (1): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  |  |  |  |  |  |  |  | $ | 531 |  |  | $ | — |  |  | $ | — |  |  | $ | 531 |
Commercial paper |  |  |  |  |  |  |  |  | — |  |  | 117 |  |  | — |  |  | 117 |
U.S. government securities |  |  |  |  |  |  |  |  | — |  |  | 20 |  |  | — |  |  | 20 |
Agency discount notes |  |  |  |  |  |  |  |  | — |  |  | 8 |  |  | — |  |  | 8 |
Other (2) |  |  |  |  |  |  |  |  | 3 |  |  | 5 |  |  | — |  |  | 8 |
Marketable securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Short-term |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt securities |  |  |  |  |  |  |  |  | — |  |  | 28 |  |  | — |  |  | 28 |
Asset backed securities |  |  |  |  |  |  |  |  | — |  |  | 20 |  |  | — |  |  | 20 |
Certificates of deposit |  |  |  |  |  |  |  |  | — |  |  | 10 |  |  | — |  |  | 10 |
Commercial paper |  |  |  |  |  |  |  |  | — |  |  | 6 |  |  | — |  |  | 6 |
Other (3) |  |  |  |  |  |  |  |  | 2 |  |  | 1 |  |  | — |  |  | 3 |
Long-term |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt securities |  |  |  |  |  |  |  |  | — |  |  | 39 |  |  | — |  |  | 39 |
Long-term other assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mutual funds (4) (5) |  |  |  |  |  |  |  |  | 85 |  |  | — |  |  | — |  |  | 85 |
Convertible debt securities |  |  |  |  |  |  |  |  | — |  |  | — |  |  | 3 |  |  | 3 |
Derivative assets (5): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative contract assets |  |  |  |  |  |  |  |  | — |  |  | 94 |  |  | — |  |  | 94 |
Strategic investments derivative assets |  |  |  |  |  |  |  |  | — |  |  | — |  |  | 2 |  |  | 2 |
Derivative liabilities (6): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative contract liabilities |  |  |  |  |  |  |  |  | — |  |  | (20) |  |  | — |  |  | (20) |
Total |  |  |  |  |  |  |  |  | $ | 621 |  |  | $ | 328 |  |  | $ | 5 |  |  | $ | 954 |
____________________ (1)Included in “Cash and cash equivalents” in the accompanying Condensed Consolidated Balance Sheets. These investments are classified as debt securities. (2)Consists of custody cash deposits, sovereign bonds, asset backed securities, and certificates of deposit. (3)Consists of common stock and municipal bonds. (4)See Note 12, “Deferred Compensation” for more information. (5)Included in “Prepaid expenses and other current assets” or “Long-term other assets” in the accompanying Condensed Consolidated Balance Sheets. (6)Included in “Other accrued liabilities” in the accompanying Condensed Consolidated Balance Sheets.
|  | January 31, 2022
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: |  |  |  |  |  |  |  |
Cash equivalents (1): |  |  |  |  |  |  |  |
Money market funds |  | $ | 302 |  |  | $ | — |  |  | $ | — |  |  | $ | 302 |
Commercial paper |  | — |  |  | 55 |  |  | — |  |  | 55 |
U.S government securities |  | — |  |  | 25 |  |  | — |  |  | 25 |
Custody cash deposit |  | 18 |  |  | — |  |  | — |  |  | 18 |
Corporate debt securities |  | — |  |  | 18 |  |  | — |  |  | 18 |
Certificates of deposit |  | — |  |  | 6 |  |  | — |  |  | 6 |
Other (2) |  | — |  |  | 4 |  |  | — |  |  | 4 |
Marketable securities: |  |  |  |  |  |  |  |
Short-term |  |  |  |  |  |  |  |
Commercial paper |  | — |  |  | 103 |  |  | — |  |  | 103 |
Corporate debt securities |  | — |  |  | 61 |  |  | — |  |  | 61 |
Asset backed securities |  | — |  |  | 26 |  |  | — |  |  | 26 |
Certificate of deposit |  | — |  |  | 14 |  |  | — |  |  | 14 |
U.S. government securities |  | — |  |  | 13 |  |  | — |  |  | 13 |
Municipal bonds |  | — |  |  | 11 |  |  | — |  |  | 11 |
Common Stock |  | 4 |  |  | — |  |  | — |  |  | 4 |
Other (3) |  | — |  |  | 4 |  |  | — |  |  | 4 |
Long-term |  |  |  |  |  |  |  |
Corporate debt securities |  | — |  |  | 44 |  |  | — |  |  | 44 |
Other (4) |  | — |  |  | 1 |  |  | — |  |  | 1 |
Long-term other assets: |  |  |  |  |  |  |  |
Mutual funds (5) (6) |  | 89 |  |  | — |  |  | — |  |  | 89 |
Derivative assets: |  |  |  |  |  |  |  |
Derivative contract assets (6) |  | — |  |  | 18 |  |  | — |  |  | 18 |
Derivative liabilities: |  |  |  |  |  |  |  |
Derivative contract liabilities (7) |  | — |  |  | (11) |  |  | — |  |  | (11) |
Total |  | $ | 413 |  |  | $ | 392 |  |  | $ | — |  |  | $ | 805 |
____________________ (1)Included in “Cash and cash equivalents” in the accompanying Condensed Consolidated Balance Sheets. These investments are classified as debt securities. (2)Consists of sovereign bonds and municipal bonds. (3)Consists of sovereign bonds and supranational bonds. (4)Consists of asset backed securities. (5)See Note 12, “Deferred Compensation” for more information. (6)Included in “Prepaid expenses and other current assets,” or “Long-term other assets,” in the accompanying Condensed Consolidated Balance Sheets. (7)Included in “Other accrued liabilities” in the accompanying Condensed Consolidated Balance Sheets. A reconciliation of the change in Autodesk’s Level 3 items for the three months ended April 30, 2022, is as follows:
|  | Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
|  | Derivative Contract |  | Convertible Debt Securities |  | Total
Balances, January 31, 2022 |  | $ | — |  |  | $ | — |  |  | $ | — |
Purchases |  | 2 |  | 3 |  | 5 |
Balances, April 30, 2022 |  | $ | 2 |  |  | $ | 3 |  |  | $ | 5 |

X
- Definition The entire disclosure for financial instruments. This disclosure includes, but is not limited to, fair value measurements of short and long term marketable securities, international currencies forward contracts, and auction rate securities. Financial instruments may include hedging and non-hedging currency exchange instruments, derivatives, securitizations and securities available for sale at fair value. Also included are investment results, realized and unrealized gains and losses as well as impairments and risk management disclosures. + References No definition available. + Details
Name: | us-gaap_FinancialInstrumentsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsAllOtherInvestmentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration