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Leases | 6 Months Ended
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Jul. 31, 2024
Leases [Abstract] |
Leases | Leases Autodesk has operating leases for real estate and certain equipment. Leases have remaining lease terms of less than 1 year to 66 years, some of which include options to extend the lease with renewal terms from 1 year to 8 years and some of which include options to terminate the leases from less than 1 year to 6 years. Options to extend or terminate the lease are considered in determining the lease term when it is reasonably certain that the option will be exercised. Payments under our lease arrangements are primarily fixed; however, certain lease agreements contain variable payments, which are expensed as incurred and not included in the operating lease assets and liabilities. These amounts include payments affected by the Consumer Price Index, payments for common area maintenance that are subject to annual reconciliation, and payments for maintenance and utilities. The Company’s leases do not contain residual value guarantees or material restrictive covenants. Short-term leases are recognized in the Condensed Consolidated Statements of Operations on a straight-line basis over the lease term. Short-term lease expense was not material for the periods presented. Changes in operating lease right-of-use assets and operating lease liabilities are presented net in the “Accounts payable and other liabilities” line in the Condensed Consolidated Statements of Cash Flows with the exception of “Lease-related asset impairments” which is presented in “Adjustments to reconcile net income to net cash provided by operating activities”. The components of lease cost were as follows:
| Three Months Ended July 31, 2024 |  |  |  |
| Cost of subscription and maintenance revenue |  | Cost of other revenue |  | Marketing and sales |  | Research and development |  | General and administrative |  | Total |  |  |  |  |  |
Operating lease cost | $ | 1 |  |  | $ | 1 |  |  | $ | 6 |  |  | $ | 6 |  |  | $ | 3 |  |  | $ | 17 |  |  |  |  |  |  |
Variable lease cost | 1 |  |  | — |  |  | 1 |  |  | 1 |  |  | — |  |  | 3 |  |  |  |  |  |  |
| Six Months Ended July 31, 2024 |  |  |  |  |  |
| Cost of subscription and maintenance revenue |  | Cost of other revenue |  | Marketing and sales |  | Research and development |  | General and administrative |  | Total |  |  |  |  |  |
Operating lease cost | $ | 3 |  |  | $ | 1 |  |  | $ | 13 |  |  | $ | 11 |  |  | $ | 6 |  |  | $ | 34 |  |  |  |  |  |  |
Variable lease cost | 1 |  |  | — |  |  | 3 |  |  | 2 |  |  | 1 |  |  | 7 |  |  |  |  |  |  |
| Three Months Ended July 31, 2023 |  |  |  |
| Cost of subscription and maintenance revenue |  | Cost of other revenue |  | Marketing and sales |  | Research and development |  | General and administrative |  | Total |  |  |  |  |  |
Operating lease cost | $ | 1 |  |  | $ | — |  |  | $ | 8 |  |  | $ | 6 |  |  | $ | 3 |  |  | $ | 18 |  |  |  |  |  |  |
Variable lease cost | — |  |  | — |  |  | 2 |  |  | 1 |  |  | 1 |  |  | 4 |  |  |  |  |  |  |
| Six Months Ended July 31, 2023 |  |  |  |  |  |
| Cost of subscription and maintenance revenue |  | Cost of other revenue |  | Marketing and sales |  | Research and development |  | General and administrative |  | Total |  |  |  |  |  |
Operating lease cost | $ | 3 |  |  | $ | 1 |  |  | $ | 15 |  |  | $ | 12 |  |  | $ | 5 |  |  | $ | 36 |  |  |  |  |  |  |
Variable lease cost | — |  |  | — |  |  | 4 |  |  | 2 |  |  | 2 |  |  | 8 |  |  |  |  |  |  |
Supplemental operating cash flow information related to leases is as follows:
| Six Months Ended July 31,
| 2024 |  | 2023
Cash paid for operating leases included in operating cash flows (1) | $ | 47 |  |  | $ | 55 |
Non-cash operating lease liabilities arising from obtaining operating lease right-of-use assets | 10 |  |  | 38 |
_______________ (1) Includes $7 million and $8 million in variable lease payments for the six months ended July 31, 2024 and 2023, respectively, not included in “Operating lease liabilities” and “Long-term operating lease liabilities” on the Condensed Consolidated Balance Sheets. The weighted average remaining lease term for operating leases is 5.8 and 6.2 years at July 31, 2024, and January 31, 2024, respectively. The weighted average discount rate was 2.85% and 2.86% at July 31, 2024, and January 31, 2024, respectively. Maturities of operating lease liabilities were as follows:
Fiscal year ending |
2025 (remainder) | $ | 36 |
2026 | 82 |
2027 | 59 |
2028 | 48 |
2029 | 41 |
Thereafter | 78 |
| 344 |
Less imputed interest | 27 |
Present value of operating lease liabilities | $ | 317 |
Autodesk has subleased certain office space to a third party and has classified the sublease as an operating lease. The sublease has a remaining lease term of 7.6 years. Sublease income was $2 million and $4 million for the three and six months ended July 31, 2024, respectively. Sublease income was $2 million and $4 million for the three and six months ended July 31, 2023, respectively. Sublease income is recorded as a reduction of lease expense in the Company’s Condensed Consolidated Statements of Operations. Operating lease amounts in the table above do not include sublease income payments of $68 million. Autodesk expects to receive sublease income payments of approximately $38 million for remaining fiscal 2025 through fiscal 2029 and $30 million thereafter. As of July 31, 2024, Autodesk had no material additional operating lease minimum lease payments for executed leases that have not yet commenced.

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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