8-KEarnings & ResultsExhibits & Filings

Autodesk, Inc. 8-K Report, Financial Results (Mar 2, 2017)

Filed March 2, 2017For Securities:ADSK

Summary

Autodesk, Inc. (ADSK) filed an 8-K on March 2, 2017, to report its financial results for the fourth quarter and fiscal year ended January 31, 2017. The filing primarily furnished a press release and prepared remarks, which detailed both GAAP and non-GAAP financial performance. Investors should note that Autodesk utilizes non-GAAP measures to provide a clearer view of its core business operations by excluding items such as stock-based compensation, amortization of intangibles, goodwill impairment, restructuring charges, and gains/losses on strategic investments. These non-GAAP measures are intended to offer greater transparency and facilitate comparisons across periods and with peer companies, serving as a key metric for management's decision-making and incentive compensation. The company emphasizes that these non-GAAP measures are supplemental and should be considered alongside GAAP results. The filing also outlines the specific reasons for excluding each type of item, aiming to help investors understand the operational performance and underlying earning potential of Autodesk's core business. While the 8-K itself doesn't present detailed financial tables, it directs stakeholders to the furnished exhibits for the full financial details and reconciliations.

Key Highlights

  • 1Autodesk announced its financial results for the fourth quarter and full fiscal year ended January 31, 2017, via an 8-K filing on March 2, 2017.
  • 2The filing primarily consists of furnished press release (Exhibit 99.1) and prepared remarks (Exhibit 99.2) containing financial results.
  • 3The company provided both GAAP and non-GAAP financial measures to investors.
  • 4Autodesk explained its rationale for using non-GAAP financial measures, emphasizing their role in assessing core business performance and facilitating comparisons.
  • 5Key exclusions from non-GAAP measures include stock-based compensation, amortization of intangibles, goodwill impairment, restructuring charges, and gains/losses on strategic investments.
  • 6The company highlighted that non-GAAP measures exclude items that may not be indicative of recurring core business operations.
  • 7Investors are urged to review the provided reconciliations between GAAP and non-GAAP measures, as non-GAAP measures are supplemental and not a substitute for GAAP reporting.

Frequently Asked Questions

The primary purpose of this 8-K filing is to officially report and provide access to Autodesk's financial results for the fourth quarter and the full fiscal year ended January 31, 2017. It includes a press release and prepared remarks that contain these financial details.

Non-GAAP financial measures are financial metrics that are not prepared in accordance with Generally Accepted Accounting Principles (GAAP). Autodesk uses them to supplement its GAAP results by excluding certain items (like stock-based compensation, amortization of intangibles, restructuring charges, etc.) that management believes are not indicative of the company's core business operating results. They are used to provide a clearer view of earning potential, facilitate period-to-period comparisons, and aid in analysis by institutional investors and analysts.

Autodesk typically excludes items such as stock-based compensation expenses, amortization of developed technologies and purchased intangibles, goodwill impairment, restructuring charges and facility exit costs, gains or losses on strategic investments, establishment of a valuation allowance on certain net deferred tax assets, discrete tax items, and the income tax effects related to these adjustments.

No, investors should not rely solely on non-GAAP financial measures. Autodesk explicitly states that these measures are supplemental and should be considered in addition to, not as a substitute for, the comparable GAAP financial measures. The company urges investors to review the reconciliations between GAAP and non-GAAP measures provided in their filings.