Balance Sheet: Assets
Quarterly Data
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
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Based on: 10-Q (reporting date: 2024-10-31), 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-K (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-K (reporting date: 2020-01-31), 10-Q (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30), 10-K (reporting date: 2019-01-31), 10-Q (reporting date: 2018-10-31), 10-Q (reporting date: 2018-07-31), 10-Q (reporting date: 2018-04-30).
The financial data reveals a series of fluctuations and overall growth trends across various asset categories over the observed quarterly periods.
- Cash and Cash Equivalents
- These showed variability with notable increases particularly starting from early 2020, peaking multiple times in 2021 and 2023. The amount rose sharply from 956 million in October 2019 to 1775 million in January 2020, indicating enhanced liquidity during this period. Subsequent quarters maintained relatively high levels with some fluctuations, suggesting periodic strong cash flow inflows or asset management adjustments.
- Marketable Securities
- This category displayed volatility with generally low values ranging mostly below 100 million until early 2021. From 2021 onwards, there was a rising trend with peaks in mid-2023, reaching up to 428 million, indicating increased investment in short-term securities to complement cash positions.
- Accounts Receivable, Net
- The accounts receivable figures exhibited substantial variability and periodic spikes. There was a significant increase in late 2019 and early 2020, with values reaching highs such as 652 million in January 2020. After a decline mid-2020, another rise occurred late 2022 through early 2023, suggesting cycles aligned with sales activity and collection patterns.
- Prepaid Expenses and Other Current Assets
- Values in this line item generally increased over the entire period, rising from about 198 million in early 2018 to 484 million by late 2024, reflecting a growing investment in prepaid costs or other liquid current assets, possibly indicative of expanded business operations or contract-related expenses.
- Current Assets
- Current assets grew markedly, doubling approximately from 1.7 billion in early 2018 to peaks above 3.5 billion in 2024. The most significant growth occurred in the first quarters of 2020 and 2021. This uptrend points to an overall strengthening in liquidity and working capital management, supporting operational needs and stability.
- Long-Term Marketable Securities
- Data for long-term marketable securities is sparse but shows an increasing trend beginning in mid-2020, growing from a single-digit million level to beyond 200 million in late 2023 and 2024. This suggests an expanding portfolio of longer-duration investments.
- Property, Plant and Equipment (Net)
- The net balance of computer equipment, software, furniture, and leasehold improvements remained relatively stable with slight decreases, declining from 158 million to 116 million over the period. This may reflect asset depreciation exceeding new investments or a strategic limitation on capital expenditures in this area.
- Operating Lease Right-of-Use Assets
- Introduced in mid-2019, these assets peaked at 439 million, then generally declined to 184 million by late 2024. This decreasing trend could indicate amortization of lease assets or reduced leasing commitments over time.
- Intangible Assets, Net
- Intangible assets showed a strong upward trend, rising from about 23 million in early 2018 to above 590 million by late 2024. Notable jumps in 2021 and 2024 suggest acquisitions or capitalization of intellectual property augmenting the intangible asset base.
- Goodwill
- Goodwill increased substantially from 1.6 billion to over 4.2 billion, reflecting multiple acquisitions or goodwill recognition events during the period. Steady increases from 2020 onward indicate continued business expansions or mergers.
- Deferred Income Taxes, Net
- Deferred income taxes exhibited a marked increase starting from 44 million in late 2020 to over 1.1 billion in recent periods, suggesting the recognition of significant deferred tax liabilities associated likely with intangible assets or goodwill adjustments connected with acquisitions.
- Long-Term Other Assets
- Long-term other assets grew progressively from 189 million to around 670 million, indicating accumulation of non-current investments or receivables supporting long-term business strategies.
- Long-Term Assets
- Long-term assets overall expanded notably, climbing from about 2.2 billion to over 7.2 billion, driven predominantly by increases in goodwill, intangible assets, and deferred tax liabilities. This reflects a shifting asset structure emphasizing acquired and capitalized assets.
- Total Assets
- Total assets rose significantly from approximately 3.9 billion to over 10.1 billion. Growth was particularly sharp around early 2020 and 2021, highlighting extensive investments, acquisitions, and cash accumulation contributing to the overall expansion of the balance sheet.
In summary, the company experienced substantial growth in its asset base over the analyzed quarters, driven largely by acquisitions and capitalized intangible assets resulting in enhanced goodwill and deferred tax liabilities. Liquidity showed improvement with increased cash balances and marketable securities, while current assets grew robustly supporting operational capacity. The trend in operating lease right-of-use assets and property, plant, and equipment suggests strategic asset management with controlled capital expenditures and leasing activities. Overall, the financial data indicates expanding operational scale and a growing asset-intensive structure.