Income Tax Expense (Benefit)
Effective Income Tax Rate (EITR)
Components of Deferred Tax Assets and Liabilities
Deferred Tax Assets and Liabilities, Classification
Adjustments to Financial Statements: Removal of Deferred Taxes
Adjusted Financial Ratios: Removal of Deferred Taxes (Summary)
Adjusted Net Profit Margin
Adjusted Total Asset Turnover
Adjusted Financial Leverage
Adjusted Return on Equity (ROE)
Adjusted Return on Assets (ROA)

Autodesk Inc., income tax expense (benefit), continuing operations

US$ in millions

12 months ended:	Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020	Jan 31, 2019
Federal	86)	219)	(1)	10)	(2)	(13)
State	21)	28)	3)	19)	—)	(2)
Foreign	206)	151)	83)	88)	70)	65)
Current	313)	398)	85)	116)	67)	50)
Federal	(97)	(222)	(5)	(741)	8)	(7)
State	3)	(19)	—)	(58)	2)	—)
Foreign	11)	(34)	(12)	21)	4)	(6)
Deferred	(83)	(275)	(17)	(778)	13)	(12)
Income tax provision (benefit)	230)	123)	68)	(662)	80)	38)

Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31).

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Item	Description	The company
Current	Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations.	Autodesk Inc. current increased from 2022 to 2023 but then slightly decreased from 2023 to 2024.
Deferred	Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations.	Autodesk Inc. deferred decreased from 2022 to 2023 but then increased from 2023 to 2024 not reaching 2022 level.
Income tax provision (benefit)	Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.	Autodesk Inc. income tax provision (benefit) increased from 2022 to 2023 and from 2023 to 2024.

Autodesk Inc., effective income tax rate (EITR) reconciliation

		Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020	Jan 31, 2019
	U.S. statutory tax rate	21.00%	21.00%	21.00%	21.00%	21.00%	21.00%
	Effective income tax rate	20.25%	13.00%	11.99%	-121.00%	27.24%	-89.23%

Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31).

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Item	Description	The company
Effective income tax rate	Percentage of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.	Autodesk Inc. effective income tax rate increased from 2022 to 2023 and from 2023 to 2024.

Autodesk Inc., components of deferred tax assets and liabilities

US$ in millions

	Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020	Jan 31, 2019
Stock-based compensation	53)	54)	56)	39)	33)	26)
Research and development tax credit carryforwards	118)	103)	250)	220)	263)	239)
Foreign tax credit carryforwards	4)	—)	56)	70)	254)	199)
Accrued compensation and benefits	11)	7)	6)	3)	3)	7)
Other accruals not currently deductible for tax	15)	26)	23)	14)	28)	19)
Capitalized research and development	514)	340)	88)	48)	38)	33)
Fixed assets	21)	22)	25)	8)	12)	15)
Lease liability	80)	92)	106)	114)	106)	—)
Tax loss carryforwards	10)	38)	53)	66)	241)	237)
Deferred revenue	538)	653)	390)	502)	29)	49)
Purchased technology	33)	—)	—)	—)	—)	—)
Other	31)	23)	23)	40)	28)	28)
Deferred tax assets	1,428)	1,358)	1,075)	1,125)	1,036)	851)
Valuation allowance	(149)	(148)	(188)	(187)	(883)	(798)
Net deferred tax assets	1,279)	1,210)	886)	938)	153)	53)
Indefinite lived intangibles	(128)	(109)	(95)	(83)	(77)	(68)
Purchased technology	—)	(26)	—)	—)	—)	—)
Right-of-use assets	(52)	(58)	(74)	(102)	(101)	—)
Unremitted earnings of foreign subsidiaries	—)	(2)	(6)	(2)	(1)	—)
Deferred taxes on foreign earnings	(29)	(33)	—)	—)	—)	—)
Deferred tax liabilities	(209)	(228)	(175)	(186)	(179)	(68)
Net deferred tax assets (liabilities)	1,070)	982)	712)	752)	(26)	(15)

Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31).

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Item	Description	The company
Deferred tax assets	Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards.	Autodesk Inc. deferred tax assets increased from 2022 to 2023 and from 2023 to 2024.
Net deferred tax assets	Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards.	Autodesk Inc. net deferred tax assets increased from 2022 to 2023 and from 2023 to 2024.
Net deferred tax assets (liabilities)	Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, without jurisdictional netting.	Autodesk Inc. net deferred tax assets (liabilities) increased from 2022 to 2023 and from 2023 to 2024.

Autodesk Inc., deferred tax assets and liabilities, classification

US$ in millions

		Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020	Jan 31, 2019
	Long-term deferred tax assets	1,093)	1,014)	741)	763)	56)	65)
	Long-term deferred tax liabilities	25)	32)	29)	11)	83)	80)

Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31).

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Item	Description	The company
Long-term deferred tax assets	Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, with jurisdictional netting and classified as noncurrent.	Autodesk Inc. long-term deferred tax assets increased from 2022 to 2023 and from 2023 to 2024.
Long-term deferred tax liabilities	Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences, with jurisdictional netting and classified as noncurrent.	Autodesk Inc. long-term deferred tax liabilities increased from 2022 to 2023 but then decreased significantly from 2023 to 2024.

Autodesk Inc., adjustments to financial statements

US$ in millions

	Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020	Jan 31, 2019
Adjustment to Total Assets
Total assets (as reported)	9,912)	9,438)	8,607)	7,280)	6,179)	4,729)
Less: Noncurrent deferred tax assets, net	1,093)	1,014)	741)	763)	56)	65)
Total assets (adjusted)	8,819)	8,424)	7,866)	6,517)	6,123)	4,664)
Adjustment to Total Liabilities
Total liabilities (as reported)	8,057)	8,293)	7,758)	6,314)	6,318)	4,940)
Less: Noncurrent deferred tax liabilities, net	25)	32)	29)	11)	83)	80)
Total liabilities (adjusted)	8,032)	8,261)	7,728)	6,303)	6,236)	4,860)
Adjustment to Stockholders’ Equity (deficit)
Stockholders’ equity (deficit) (as reported)	1,855)	1,145)	849)	966)	(139)	(211)
Less: Net deferred tax assets (liabilities)	1,070)	982)	712)	752)	(26)	(15)
Stockholders’ equity (deficit) (adjusted)	785)	163)	137)	214)	(113)	(196)
Adjustment to Net Income (loss)
Net income (loss) (as reported)	906)	823)	497)	1,208)	215)	(81)
Add: Deferred income tax expense (benefit)	(83)	(275)	(17)	(778)	13)	(12)
Net income (loss) (adjusted)	823)	548)	480)	430)	228)	(93)

Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31).

Autodesk Inc., Financial Data: Reported vs. Adjusted

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Autodesk Inc., adjusted financial ratios

	Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020	Jan 31, 2019
Net Profit Margin
Reported net profit margin	16.48%	16.44%	11.33%	31.88%	6.55%	-3.14%
Adjusted net profit margin	14.97%	10.95%	10.95%	11.35%	6.96%	-3.62%
Total Asset Turnover
Reported total asset turnover	0.55	0.53	0.51	0.52	0.53	0.54
Adjusted total asset turnover	0.62	0.59	0.56	0.58	0.53	0.55
Financial Leverage
Reported financial leverage	5.34	8.24	10.14	7.54	—	—
Adjusted financial leverage	11.23	51.68	57.25	30.48	—	—
Return on Equity (ROE)
Reported ROE	48.84%	71.88%	58.53%	125.14%	—	—
Adjusted ROE	104.84%	336.20%	349.49%	201.26%	—	—
Return on Assets (ROA)
Reported ROA	9.14%	8.72%	5.77%	16.60%	3.47%	-1.71%
Adjusted ROA	9.33%	6.51%	6.10%	6.60%	3.72%	-1.99%

Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31).

Financial ratio	Description	The company
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by total revenue.	Autodesk Inc. adjusted net profit margin ratio improved from 2022 to 2023 and from 2023 to 2024.
Adjusted total asset turnover	An activity ratio calculated as total revenue divided by adjusted total assets.	Autodesk Inc. adjusted total asset turnover ratio improved from 2022 to 2023 and from 2023 to 2024.
Adjusted financial leverage	A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.	Autodesk Inc. adjusted financial leverage ratio decreased from 2022 to 2023 and from 2023 to 2024.
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by adjusted shareholders’ equity.	Autodesk Inc. adjusted ROE deteriorated from 2022 to 2023 and from 2023 to 2024.
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by adjusted total assets.	Autodesk Inc. adjusted ROA improved from 2022 to 2023 and from 2023 to 2024.

Autodesk Inc., Financial Ratios: Reported vs. Adjusted

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	Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020	Jan 31, 2019
As Reported
Selected Financial Data (US$ in millions)
Net income (loss)	906)	823)	497)	1,208)	215)	(81)
Net revenue	5,497)	5,005)	4,386)	3,790)	3,274)	2,570)
Profitability Ratio
Net profit margin¹	16.48%	16.44%	11.33%	31.88%	6.55%	-3.14%
Adjusted for Deferred Taxes
Selected Financial Data (US$ in millions)
Adjusted net income (loss)	823)	548)	480)	430)	228)	(93)
Net revenue	5,497)	5,005)	4,386)	3,790)	3,274)	2,570)
Profitability Ratio
Adjusted net profit margin²	14.97%	10.95%	10.95%	11.35%	6.96%	-3.62%

Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31).

2024 Calculations

¹ Net profit margin = 100 × Net income (loss) ÷ Net revenue
= 100 × 906 ÷ 5,497 = 16.48%

² Adjusted net profit margin = 100 × Adjusted net income (loss) ÷ Net revenue
= 100 × 823 ÷ 5,497 = 14.97%

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Profitability ratio	Description	The company
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by total revenue.	Autodesk Inc. adjusted net profit margin ratio improved from 2022 to 2023 and from 2023 to 2024.

	Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020	Jan 31, 2019
As Reported
Selected Financial Data (US$ in millions)
Net revenue	5,497)	5,005)	4,386)	3,790)	3,274)	2,570)
Total assets	9,912)	9,438)	8,607)	7,280)	6,179)	4,729)
Activity Ratio
Total asset turnover¹	0.55	0.53	0.51	0.52	0.53	0.54
Adjusted for Deferred Taxes
Selected Financial Data (US$ in millions)
Net revenue	5,497)	5,005)	4,386)	3,790)	3,274)	2,570)
Adjusted total assets	8,819)	8,424)	7,866)	6,517)	6,123)	4,664)
Activity Ratio
Adjusted total asset turnover²	0.62	0.59	0.56	0.58	0.53	0.55

Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31).

2024 Calculations

¹ Total asset turnover = Net revenue ÷ Total assets
= 5,497 ÷ 9,912 = 0.55

² Adjusted total asset turnover = Net revenue ÷ Adjusted total assets
= 5,497 ÷ 8,819 = 0.62

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Activity ratio	Description	The company
Adjusted total asset turnover	An activity ratio calculated as total revenue divided by adjusted total assets.	Autodesk Inc. adjusted total asset turnover ratio improved from 2022 to 2023 and from 2023 to 2024.

	Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020	Jan 31, 2019
As Reported
Selected Financial Data (US$ in millions)
Total assets	9,912)	9,438)	8,607)	7,280)	6,179)	4,729)
Stockholders’ equity (deficit)	1,855)	1,145)	849)	966)	(139)	(211)
Solvency Ratio
Financial leverage¹	5.34	8.24	10.14	7.54	—	—
Adjusted for Deferred Taxes
Selected Financial Data (US$ in millions)
Adjusted total assets	8,819)	8,424)	7,866)	6,517)	6,123)	4,664)
Adjusted stockholders’ equity (deficit)	785)	163)	137)	214)	(113)	(196)
Solvency Ratio
Adjusted financial leverage²	11.23	51.68	57.25	30.48	—	—

Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31).

2024 Calculations

¹ Financial leverage = Total assets ÷ Stockholders’ equity (deficit)
= 9,912 ÷ 1,855 = 5.34

² Adjusted financial leverage = Adjusted total assets ÷ Adjusted stockholders’ equity (deficit)
= 8,819 ÷ 785 = 11.23

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Solvency ratio	Description	The company
Adjusted financial leverage	A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.	Autodesk Inc. adjusted financial leverage ratio decreased from 2022 to 2023 and from 2023 to 2024.

	Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020	Jan 31, 2019
As Reported
Selected Financial Data (US$ in millions)
Net income (loss)	906)	823)	497)	1,208)	215)	(81)
Stockholders’ equity (deficit)	1,855)	1,145)	849)	966)	(139)	(211)
Profitability Ratio
ROE¹	48.84%	71.88%	58.53%	125.14%	—	—
Adjusted for Deferred Taxes
Selected Financial Data (US$ in millions)
Adjusted net income (loss)	823)	548)	480)	430)	228)	(93)
Adjusted stockholders’ equity (deficit)	785)	163)	137)	214)	(113)	(196)
Profitability Ratio
Adjusted ROE²	104.84%	336.20%	349.49%	201.26%	—	—

Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31).

2024 Calculations

¹ ROE = 100 × Net income (loss) ÷ Stockholders’ equity (deficit)
= 100 × 906 ÷ 1,855 = 48.84%

² Adjusted ROE = 100 × Adjusted net income (loss) ÷ Adjusted stockholders’ equity (deficit)
= 100 × 823 ÷ 785 = 104.84%

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Profitability ratio	Description	The company
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by adjusted shareholders’ equity.	Autodesk Inc. adjusted ROE deteriorated from 2022 to 2023 and from 2023 to 2024.

	Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020	Jan 31, 2019
As Reported
Selected Financial Data (US$ in millions)
Net income (loss)	906)	823)	497)	1,208)	215)	(81)
Total assets	9,912)	9,438)	8,607)	7,280)	6,179)	4,729)
Profitability Ratio
ROA¹	9.14%	8.72%	5.77%	16.60%	3.47%	-1.71%
Adjusted for Deferred Taxes
Selected Financial Data (US$ in millions)
Adjusted net income (loss)	823)	548)	480)	430)	228)	(93)
Adjusted total assets	8,819)	8,424)	7,866)	6,517)	6,123)	4,664)
Profitability Ratio
Adjusted ROA²	9.33%	6.51%	6.10%	6.60%	3.72%	-1.99%

Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31).

2024 Calculations

¹ ROA = 100 × Net income (loss) ÷ Total assets
= 100 × 906 ÷ 9,912 = 9.14%

² Adjusted ROA = 100 × Adjusted net income (loss) ÷ Adjusted total assets
= 100 × 823 ÷ 8,819 = 9.33%

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Profitability ratio	Description	The company
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by adjusted total assets.	Autodesk Inc. adjusted ROA improved from 2022 to 2023 and from 2023 to 2024.

Autodesk Inc. (NASDAQ:ADSK)

Analysis of Income Taxes

Income Tax Expense (Benefit)

Effective Income Tax Rate (EITR)

Components of Deferred Tax Assets and Liabilities

Deferred Tax Assets and Liabilities, Classification

Adjustments to Financial Statements: Removal of Deferred Taxes

Autodesk Inc., Financial Data: Reported vs. Adjusted

Adjusted Financial Ratios: Removal of Deferred Taxes (Summary)

Autodesk Inc., Financial Ratios: Reported vs. Adjusted

Adjusted Net Profit Margin

Adjusted Total Asset Turnover

Adjusted Financial Leverage

Adjusted Return on Equity (ROE)

Adjusted Return on Assets (ROA)