XML 61 R12.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
Financial Instruments
 12 Months Ended
Jan. 31, 2024
Investments, All Other Investments [Abstract]  
Financial Instruments Financial Instruments
The following tables summarize the Company’s financial instruments by significant investment category as of January 31, 2024 and 2023.
January 31, 2024
Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Cash equivalents (1):
Money market funds$693 $— $— $693 
Commercial paper250 — — 250 
U.S. government securities92 — — 92 
Certificates of deposit80 — — 80 
Other (2)6 — — 6 
Marketable securities:
Short-term
Commercial paper159 — — 159 
Corporate debt securities75 — 75 
U.S. government securities70 — — 70 
Asset backed securities28 — — 28 
Other (3)22 — 22 
Long-term
Corporate debt securities103 1 — 104 
Asset backed securities59 — — 59 
Agency mortgage-backed securities36 — — 36 
U.S. government securities24 — — 24 
Other (4)11 — — 11 
Mutual funds (5) (6)89 12 (1)100 
Total$1,797 $13 $(1)$1,809 
____________________ 
(1)Included in “Cash and cash equivalents” in the accompanying Consolidated Balance Sheets. These investments are classified as debt securities.
(2)Consists primarily of mortgage-backed securities and corporate debt securities.
(3)Consists primarily of agency discount bonds, U.S. government securities, mortgage-backed securities, certificates of deposit, and agency bonds.
(4)Consists primarily of agency bonds, agency collateralized mortgage obligations, and mortgage-backed securities.
(5)See Note 7, "Deferred Compensation" for more information.
(6)Included in “Prepaid expenses and other current assets” or “Long-term other assets” in the accompanying Consolidated Balance Sheets.
 
January 31, 2023
Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Cash equivalents (1):
Money market funds$737 $— $— $737 
Commercial paper169 — — 169 
Certificates of deposit35 — — 35 
U.S. government securities13 — — 13 
Other (2)12 — — 12 
Marketable securities:
Short-term
Corporate debt securities44 — 44 
Commercial paper42 — — 42 
Asset backed securities19 — — 19 
U.S. government securities17 — — 17 
Other (3)3 — 3 
Long-term
Corporate debt securities45 — — 45 
U.S. government securities35 — — 35 
Asset backed securities13 — — 13 
Other (4)9 — — 9 
Mutual Funds (5) (6)81 6 (1)86 
Convertible debt securities (6)3 1 (2)2 
Strategic investments derivative asset (6)
2 — (2)— 
Total$1,279 $7 $(5)$1,281 
____________________ 
(1)Included in “Cash and cash equivalents” in the accompanying Consolidated Balance Sheets. These investments are classified as debt securities.
(2)Consists of custody cash deposits, agency discount notes, municipal bonds, corporate debt securities, asset-backed securities, and mortgage-backed securities.
(3)Consists of mortgage-backed securities, agency mortgage-backed securities, common stock, and agency collateralized mortgage obligations.
(4)Consists of agency mortgage-backed securities, agency bonds, agency collateralized mortgage obligations, mortgage-backed securities, and collateralized mortgage obligations.
(5)See Note 7, "Deferred Compensation" for more information.
(6)Included in “Prepaid expenses and other current assets” or “Long-term other assets” in the accompanying Consolidated Balance Sheets.

The following table summarizes the fair values of investments classified as marketable debt securities by contractual maturity date as of January 31, 2024:
Fair Value
Due within 1 year$329 
Due in 1 year through 5 years220
Due in 5 years through 10 years12
Due after 10 years27
Total
$588 

As of both January 31, 2024 and 2023, 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 fiscal 2024.
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 January 31, 2024 and 2023. There were no write offs of accrued interest receivables for both fiscal 2024 and 2023.

There were no material realized gain or loss for the sales or redemptions of debt securities during fiscal 2024, 2023, and 2022. Realized gains and losses from the sale or redemption of marketable securities are recorded in “Interest and other income (expense), net” on the Company’s Consolidated Statements of Operations.

Proceeds from the sale and maturity of marketable debt securities were as follows:
 Fiscal Year Ended
202420232022
Marketable debt securities $764 $450 $38 

Strategic investments in equity securities
    
As of January 31, 2024 and 2023, Autodesk had $162 million and $177 million, respectively, in direct investments in privately held companies. These strategic investments in 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. These strategic investments in equity securities are generally subject to a security-specific restriction which limits the sale or transfer of the respective equity security during the holding period.

Adjustments to the carrying value of our strategic investments in equity securities with no readily determined fair values measured using the measurement alternative are included in Interest and Other Income (Expense), net on the Company’s Consolidated Statements of Operations. These adjustments were as follows:
 Fiscal Year EndedCumulative Amount as of
202420232022January 31, 2024
Upward adjustments$— $6 $7 $29 
Negative adjustments, including impairments(28)(9)(17)(114)
Net adjustments$(28)$(3)$(10)$(85)

Autodesk does not consider the remaining investments to be impaired as of January 31, 2024.

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 January 31, 2024 and 2023:
January 31, 2024
Level 1Level 2Level 3Total
Cash equivalents (1):
Money market funds$693 $— $— $693 
Commercial paper— 250 — 250 
U.S. government securities— 92 — 92 
Certificates of deposit— 80 — 80 
Other (2)— 6 — 6 
Marketable securities:
Short-term
Commercial paper— 159 — 159 
Corporate debt securities— 75 — 75 
U.S. government securities— 70 — 70 
Asset backed securities— 28 — 28 
Other (3)— 22 — 22 
Long-term
Corporate debt securities— 104 — 104 
Asset backed securities— 59 — 59 
Agency bonds— 36 — 36 
U.S. government securities— 24 — 24 
Other (4)— 11 — 11 
Long-term other assets:
Mutual funds (5) (6)100 — — 100 
Derivative assets:
Derivative contract assets (6)— 21 — 21 
Derivative liabilities:
Derivative contract liabilities (7)— (15)— (15)
Total$793 $1,022 $— $1,815 
____________________ 
(1)Included in “Cash and cash equivalents” in the accompanying Consolidated Balance Sheets. These investments are classified as debt securities.
(2)Consists primarily of mortgage-backed securities and corporate debt securities.
(3)Consists primarily of agency discount bonds, U.S. government securities, mortgage-backed securities, certificates of deposit, and agency bonds.
(4)Consists primarily of agency bonds, agency collateralized mortgage obligations, and mortgage-backed securities.
(5)See Note 7, "Deferred Compensation" for more information.
(6)Included in “Prepaid expenses and other current assets” or “Long-term other assets” in the accompanying Consolidated Balance Sheets.
(7)Included in “Other accrued liabilities” in the accompanying Consolidated Balance Sheets.
   
January 31, 2023
Level 1Level 2Level 3Total
Cash equivalents (1):
Money market funds$737 $— $— $737 
Commercial paper— 169 — 169
Certificates of deposit— 35 — 35
U.S. government securities— 13 — 13
Other (2)4 8 — 12
Marketable securities:
Short-term
Corporate debt securities— 44 — 44
Commercial paper— 42 — 42
Asset backed securities— 19 — 19
U.S. government securities— 17 — 17
Other (3)— 3 — 3
Long-term
Corporate debt securities— 45 — 45
U.S. government securities— 35 — 35
Asset backed securities— 13 — 13
Other (4)— 9 — 9
Long-term other assets:
Mutual Funds (5) (6)86 — — 86
Convertible debt securities (6)— — 2 2
Derivative assets
Derivative contract assets (6)— 14 — 14
Derivative liabilities
Derivative contract liabilities (7)— (31)— (31)
Total$827 $435 $2 $1,264 
____________________ 
(1)Included in “Cash and cash equivalents” in the accompanying Consolidated Balance Sheets. These investments are classified as debt securities.
(2)Consists of custody cash deposits, agency discount notes, municipal bonds, corporate debt securities, asset-backed securities, and mortgage-backed securities.
(3)Consists of mortgage-backed securities, agency mortgage-backed securities, common stock, and agency collateralized mortgage obligations.
(4)Consists of agency mortgage-backed securities, agency bonds, agency collateralized mortgage obligations, mortgage-backed securities, and collateralized mortgage obligations.
(5)See Note 7, "Deferred Compensation" for more information.
(6)Included in “Prepaid expenses and other current assets” or “Long-term other assets” in the accompanying Consolidated Balance Sheets.
(7)Included in “Other accrued liabilities” in the accompanying Consolidated Balance Sheets.