Concentration of Credit Risk

6 Months Ended

Jul. 31, 2024

Risks and Uncertainties [Abstract]

Concentration of Credit Risk

Concentration of Credit Risk

Autodesk places its cash, cash equivalents, and marketable securities in highly liquid instruments with, and in the custody of, multiple diversified financial institutions globally with high credit ratings, and limits the amounts invested with any one institution, type of security, and issuer. Autodesk’s primary commercial banking relationship is with Citigroup Inc. and its global affiliates. Citibank, N.A., an affiliate of Citigroup, is one of the lead lenders and an agent in the syndicate of Autodesk’s $1.5 billion revolving credit facility. See Note 14, “Borrowing Arrangements,” in the Notes to Condensed Consolidated Financial Statements for further discussion.

Total revenue from the Company's largest distributor TD Synnex Corporation and its global affiliates (“TD Synnex”) accounted for 36% and 37% of Autodesk’s total net revenue during the three and six months ended July 31, 2024, respectively. Total revenue from TD Synnex accounted for 40% of Autodesk’s total net revenue during both the three and six months ended July 31, 2023. The majority of the net revenue from sales to TD Synnex is from sales outside of the United States. In addition, TD Synnex accounted for 19% and 18% of trade accounts receivable at July 31, 2024, and January 31, 2024, respectively. No other customer accounted for more than 10% of Autodesk's total net revenue or trade accounts receivable for each of the respective periods.