8-KRegulation FDExhibits & Filings

Autodesk, Inc. 8-K Report, Regulation FD Disclosure (Sep 29, 2015)

Filed September 29, 2015For Securities:ADSK

Summary

This 8-K filing from Autodesk, Inc. (ADSK) on September 29, 2015, primarily serves to furnish a press release from the same date. The press release reiterates the company's business outlook for the third quarter and full fiscal year 2016. For investors, the key takeaway is that Autodesk is providing updated financial guidance, which is a critical event for assessing the company's performance trajectory and future prospects. The filing also details Autodesk's use of non-GAAP financial measures, explaining which items are excluded from GAAP reporting and why these adjustments are believed to provide a clearer view of core business operations and earning potential to investors and analysts. The company emphasizes that these non-GAAP measures, including net earnings per diluted share and billings, are used internally for budgeting and performance evaluation. They are presented to offer greater transparency and allow for more meaningful comparisons with industry peers and across different accounting periods. Investors are encouraged to review these non-GAAP measures alongside GAAP figures for a comprehensive understanding of Autodesk's financial health and strategic direction.

Key Highlights

  • 1Autodesk reiterated its business outlook for Q3 and FY2016 via a press release furnished with the 8-K filing.
  • 2The company provided updated financial guidance, a key event for investor assessment.
  • 3Detailed explanation of non-GAAP financial measures used by Autodesk, including net earnings per diluted share and billings.
  • 4Autodesk uses non-GAAP measures to supplement GAAP reporting for budgeting, resource allocation, and performance evaluation.
  • 5Specific items excluded from non-GAAP measures include stock-based compensation, amortization of intangibles, goodwill impairment, restructuring charges, and gains/losses on strategic investments.
  • 6The company believes non-GAAP measures offer greater transparency and facilitate comparisons with peers and across periods.
  • 7Investors are urged to review non-GAAP measures in conjunction with GAAP figures and the provided reconciliations.

Frequently Asked Questions

The main purpose of this 8-K filing is to officially furnish a press release issued by Autodesk on September 29, 2015. This press release reiterates the company's business outlook and financial guidance for the third quarter and the full fiscal year 2016.

Autodesk provides non-GAAP financial measures to offer investors a clearer view of its core business operations and earning potential. These measures exclude certain expenses like stock-based compensation, amortization of intangibles, and restructuring charges, which management believes are not indicative of ongoing business results and can vary significantly. This allows for better comparability across periods and with industry peers.

The filing mentions that non-GAAP measures include future non-GAAP net earnings per diluted share and billings. These are used internally for budgeting and evaluating performance, and are provided to investors to enhance transparency regarding key metrics used by management.

Key adjustments include the exclusion of stock-based compensation expenses, amortization of developed technologies and purchased intangibles, goodwill impairment, restructuring charges, gains or losses on strategic investments, the establishment of a valuation allowance on certain net deferred tax assets, and discrete tax items. The income tax effects related to these differences are also adjusted.