The following tables summarize the Company's financial instruments by significant investment category as of April 30, 2026, and January 31, 2026:


	April 30, 2026
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Cash equivalents (1):
Money market funds	$	1,349	$	—	$	—	$	1,349
Commercial paper	213		—		—		213
Certificates of deposit	73		—		—		73
U.S. government securities	138		—		—		138


Agency discount notes	2		—		—		2



Marketable securities:
Short-term
Commercial paper	112		—		—		112
Corporate debt securities	82		—		—		82
U.S. government securities	13		—		—		13
Asset-backed securities	29		—		—		29
Certificates of deposit	5		—		—		5


Other (2)	12		—		—		12
Long-term
Corporate debt securities	164		—		—		164
Asset-backed securities	81		—		—		81
U.S. government securities	97		—		(1)		96
Agency mortgage-backed securities	23		—		—		23
Agency bonds	11		—		—		11
Other (3)	10		—		—		10
Mutual funds (4)	145		—		—		145
Total	$	2,559	$	—	$	(1)	$	2,558

(4)Investments in debt and equity securities that are held in a rabbi trust under non-qualified deferred compensation plans, $14 million was classified as current in “Prepaid expenses and other current assets” and $131 million was classified as non-current in “Long-term other assets” in the accompanying Condensed Consolidated Balance Sheets. The liability balance was $146 million in the accompanying Condensed Consolidated Balance Sheets.


	January 31, 2026
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Cash equivalents (1):
Money market funds	$	1,107	$	—	$	—	$	1,107
Commercial paper	163		—		—		163
Certificates of deposit	54		—		—		54
U.S government securities	96		—		—		96


Other (2)	1		—		—		1
Marketable securities:
Short-term
Commercial paper	155		—		—		155
Corporate debt securities	66		—		—		66
U.S government securities	67		—		—		67
Asset-backed securities	25		—		—		25
Certificates of deposit	16		—		—		16


Other (3)	19		—		—		19
Long-term
Corporate debt securities	156		1		—		157
Asset backed securities	85		—		—		85
U.S. government securities	83		—		—		83
Agency mortgage-backed securities	23		—		—		23

Other (4)	28		—		—		28
Mutual funds (5)	117		20		—		137
Total	$	2,261	$	21	$	—	$	2,282

(5)Investments in debt and equity securities that are held in a rabbi trust under non-qualified deferred compensation plans, $14 million was classified as current in “Prepaid expenses and other current assets” and $123 million was classified as non-current in “Long-term other assets” in the accompanying Condensed Consolidated Balance Sheets. The liability balance was $137 million in the accompanying Condensed Consolidated Balance Sheets.

As of both April 30, 2026, and January 31, 2026, 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, 2026.

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, 2026, and January 31, 2026. There were no write offs of accrued interest receivables for both the three months ended April 30, 2026 and 2025.

There were no material realized gains or losses for the sales or redemptions of marketable debt securities during both the three months ended April 30, 2026 and 2025. Realized gains and losses from the sales or redemptions of marketable debt securities are recorded in “Interest and other income, net” on the Company's Condensed Consolidated Statements of Operations.

As of April 30, 2026, and January 31, 2026, Autodesk had $406 million and $346 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 income, net” on the Company's Condensed Consolidated Statements of Operations. These adjustments were as follows:


	Three Months Ended April 30,				Cumulative Amount as of
	2026		2025		April 30, 2026
Upward adjustments	$	60	$	—	$	89
Negative adjustments, including impairments	(1)		—		(141)
Net unrealized adjustments	$	59	$	—	$	(52)

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, 2026, and January 31, 2026:


	April 30, 2026
		Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents (1):
Money market funds		$	1,349	$	—	$	—	$	1,349
Commercial paper		—		213		—		213
Certificates of deposit		—		73		—		73
U.S. government securities		—		138		—		138


Agency discount notes		—		2		—		2



Marketable securities:
Short-term
Commercial paper		—		112		—		112
Corporate debt securities		—		82		—		82
U.S. government securities		—		13		—		13
Asset-backed securities		—		29		—		29
Certificates of deposit		—		5		—		5


Other (2)		—		12		—		12
Long-term
Corporate debt securities		—		164		—		164
Asset-backed securities		—		81		—		81
U.S. government securities		—		96		—		96
Agency mortgage-backed securities		—		23		—		23
Agency bonds		—		11		—		11
Other (3)		—		10		—		10
Long-term other assets:
Mutual funds (4)		145		—		—		145
Derivative assets:
Derivative contract assets (5)		—		25		—		25
Derivative liabilities:
Derivative contract liabilities (6)		—		(22)		—		(22)
Total		$	1,494	$	1,067	$	—	$	2,561

____________________

(4)Investments in debt and equity securities that are held in a rabbi trust under non-qualified deferred compensation plans with a corresponding deferred compensation liability. Included in “Prepaid expenses and other current assets”, “Long-term other assets”, “Accrued compensation”, and “Long-term other liabilities,” in the accompanying Condensed Consolidated Balance Sheets.


	January 31, 2026
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents (1):
Money market funds	$	1,107	$	—	$	—	$	1,107
Commercial paper	—		163		—		163
Certificates of deposit	—		54		—		54
U.S government securities	—		96		—		96





Other (2)	—		1		—		1
Marketable securities:
Short-term
Commercial paper	—		155		—		155
Corporate debt securities	—		66		—		66
U.S government securities	—		67		—		67
Asset-backed securities	—		25		—		25
Certificates of deposit	—		16		—		16


Other (3)	—		19		—		19
Long-term
Corporate debt securities	—		157		—		157
Asset backed securities	—		85		—		85
U.S. government securities	—		83		—		83
Agency mortgage-backed securities	—		23		—		23

Other (4)	—		28		—		28
Long-term other assets:
Mutual funds (5)	137		—		—		137
Derivative assets:
Derivative contract assets (6)	—		26		—		26
Derivative liabilities:
Derivative contract liabilities (7)	—		(28)		—		(28)
Total	$	1,244	$	1,036	$	—	$	2,280

(5)Investments in debt and equity securities that are held in a rabbi trust under non-qualified deferred compensation plans with a corresponding deferred compensation liability. Included in “Prepaid expenses and other current assets”, “Long-term other assets”, “Accrued compensation”, and “Long-term other liabilities,” in the accompanying Condensed Consolidated Balance Sheets.