XML 21 R11.htm IDEA: XBRL DOCUMENT v3.25.3
Financial Instruments
 9 Months Ended
Oct. 31, 2025
Investments, All Other Investments [Abstract]  
Financial Instruments Financial Instruments
The following tables summarize the Company's financial instruments by significant investment category as of October 31, 2025, and January 31, 2025:
October 31, 2025
Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Cash equivalents (1):
Money market funds$1,001 $— $— $1,001 
Commercial paper 154 — — 154 
Certificates of deposit48 — — 48 
U.S. government securities18 — — 18 
Other (2)4 — — 4 
Marketable securities:
Short-term
Corporate debt securities55 — — 55 
U.S. government securities70 — — 70 
Commercial paper116 — — 116 
Asset-backed securities27 — — 27 
Certificates of deposit18 — — 18 
Agency mortgage-backed securities11 — — 11 
Other (3)3 — — 3 
Long-term
Corporate debt securities128 1 — 129 
Asset-backed securities72 — — 72 
U.S. government securities63 — — 63 
Agency mortgage-backed securities28 — — 28 
Other (4)10 — — 10 
Mutual funds (5) (6)114 25 — 139 
Total$1,940 $26 $— $1,966 
___________________ 
(1)Included in “Cash and cash equivalents” in the accompanying Condensed Consolidated Balance Sheets. These investments are classified as debt securities.
(2)Primarily consists of agency discount notes.
(3)Primarily consists of agency discount notes.
(4)Primarily consists of agency collateralized mortgage obligations and agency bonds.
(5)See Note 11, “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.
January 31, 2025
Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Cash equivalents (1):
Money market funds$618 $— $— $618 
Commercial paper85 — — 85 
Certificates of deposit38 — — 38 
U.S government securities19 — — 19 
Other (2)4 — — 4 
Marketable securities:
Short-term
Commercial paper96 — — 96 
Corporate debt securities79 — — 79 
U.S. government securities 74 — — 74 
Asset-backed securities 19 — — 19 
Other (3)19 — — 19 
Long-term
Corporate debt securities96 1 — 97 
Asset backed securities71 — — 71 
U.S. government securities52 — (1)51 
Agency mortgage-backed securities40 — — 40 
Other (4)8 — — 8 
Mutual funds (5) (6)106 12 — 118 
Total$1,424 $13 $(1)$1,436 
____________________ 
(1)Included in “Cash and cash equivalents” in the accompanying Condensed Consolidated Balance Sheets. These investments are classified as debt securities.
(2)Consists primarily of corporate debt securities.
(3)Consists primarily of agency discount bonds, agency mortgage-backed securities, mortgage-backed securities, and U.S. treasury bonds.
(4)Consists primarily of agency collateralized mortgage obligations and supranational bonds.
(5)See Note 11, “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 October 31, 2025:
Fair Value
Due within 1 year$267 
Due after 1 year through 5 years314 
Due after 5 years through 10 years15 
Due after 10 years6 
Total
$602 
    
As of both October 31, 2025, and January 31, 2025, 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 nine months ended October 31, 2025.

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 October 31, 2025, and January 31, 2025. There were no write offs of accrued interest receivables for both the nine months ended October 31, 2025 and 2024.
There were no material realized gains or losses for the sales or redemptions of marketable debt securities during both the three and nine months ended October 31, 2025 and 2024. Realized gains and losses from the sales or redemptions of marketable debt securities are recorded in “Interest and other (loss) income, net” on the Company's Condensed Consolidated Statements of Operations.

Strategic investments in equity securities

As of October 31, 2025, and January 31, 2025, Autodesk had $156 million and $168 million in direct investments in privately held companies, respectively. 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 investment equity securities with no readily determined fair values measured using the measurement alternative are included in “Interest and other (loss) income, net” on the Company's Condensed Consolidated Statements of Operations. These adjustments were as follows:
 Nine Months Ended October 31,Cumulative Amount as of
20252024October 31, 2025
Upward adjustments$— $— $29 
Negative adjustments, including impairments (15)(7)(137)
Net unrealized adjustments$(15)$(7)$(108)

Realized gains for the disposition of strategic investment equity securities for both the three and nine months ended October 31, 2025 and 2024 were immaterial.

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 October 31, 2025, and January 31, 2025:
October 31, 2025
Level 1Level 2Level 3Total
Assets:
Cash equivalents (1):
Money market funds$1,001 $— $— $1,001 
Commercial paper — 154 — 154 
Certificates of deposit— 48 — 48 
U.S. government securities— 18 — 18 
Other (2)— 4 — 4 
Marketable securities:
Short-term
Corporate debt securities— 55 — 55 
U.S. government securities— 70 — 70 
Commercial paper— 116 — 116 
Asset-backed securities— 27 — 27 
Certificates of deposit— 18 — 18 
Agency mortgage-backed securities— 11 — 11 
Other (3)— 3 — 3 
Long-term
Corporate debt securities— 129 — 129 
Asset-backed securities— 72 — 72 
U.S. government securities— 63 — 63 
Agency mortgage-backed securities— 28 — 28 
Other (4)— 10 — 10 
Long-term other assets:
Mutual funds (5)(6)139 — — 139 
Derivative assets:
Derivative contract assets (6)— 29 — 29 
Derivative liabilities:
Derivative contract liabilities (7)— (25)— (25)
Total$1,140 $830 $— $1,970 
____________________ 
(1)Included in “Cash and cash equivalents” in the accompanying Condensed Consolidated Balance Sheets. These investments are classified as debt securities.
(2)Primarily consists of agency discount notes.
(3)Primarily consists of agency discount notes.
(4)Primarily consists of agency collateralized mortgage obligations and agency bonds.
(5)See Note 11, “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.
January 31, 2025
Level 1Level 2Level 3Total
Assets:
Cash equivalents (1):
Money market funds$618 $— $— $618 
Commercial paper— 85 — 85 
Certificates of deposit— 38 — 38 
U.S government securities— 19 — 19 
Other (2)— 4 — 4 
Marketable securities:
Short-term
Commercial paper— 96 — 96 
Corporate debt securities— 79 — 79 
U.S. government securities — 74 — 74 
Asset backed securities — 19 — 19 
Other (3)— 19 — 19 
Long-term
Corporate debt securities— 97 — 97 
Asset backed securities— 71 — 71 
U.S. government securities— 51 — 51 
Agency bonds— 40 — 40 
Other (4)— 8 — 8 
Long-term other assets:
Mutual funds (5) (6)118 — — 118 
Derivative assets:
Derivative contract assets (6)— 28 — 28 
Derivative liabilities:
Derivative contract liabilities (7)— (22)— (22)
Total$736 $706 $— $1,442 
____________________ 
(1)Included in “Cash and cash equivalents” in the accompanying Condensed Consolidated Balance Sheets. These investments are classified as debt securities.
(2)Consists primarily of corporate debt securities.
(3)Consists primarily of agency discount bonds, agency mortgage-backed securities, mortgage-backed securities, and U.S. treasury bonds.
(4)Consists primarily of agency collateralized mortgage obligations and supranational bonds.
(5)See Note 11, “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.