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Financial Instruments
 3 Months Ended
Apr. 30, 2024
Investments, All Other Investments [Abstract]  
Financial Instruments Financial Instruments
The following tables summarize the Company's financial instruments by significant investment category as of April 30, 2024, and January 31, 2024:
April 30, 2024
Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Cash equivalents (1):
Money market funds$592 $— $— $592 
Commercial paper 278 — — 278 
Certificates of deposit83 — — 83 
U.S. government securities12 — — 12 
Corporate debt securities 10 — — 10 
Marketable securities:
Short-term
Commercial paper141 — — 141 
Corporate debt securities73 — — 73 
U.S. government securities54 — — 54 
Asset-backed securities25 — — 25 
Other (2)15 — — 15 
Long-term
Corporate debt securities108 — (1)107 
Asset-backed securities62 — — 62 
Agency mortgage backed securities39 — (1)38 
U.S. government securities25 — (1)24 
Other (3)7 — — 7 
Mutual funds (4) (5)95 13 (1)107 
Total$1,619 $13 $(4)$1,628 
___________________ 
(1)Included in “Cash and cash equivalents” in the accompanying Condensed Consolidated Balance Sheets. These investments are classified as debt securities.
(2)Primarily consists of agency discount bonds, mortgage-backed securities, agency bonds, and certificates of deposit.
(3)Consists of agency collateralized mortgage obligations, agency bonds, and mortgage-backed securities.
(4)See Note 12, “Deferred Compensation” for more information.
(5)Included in “Prepaid expenses and other current assets” or “Long-term other assets” in the accompanying Condensed Consolidated Balance Sheets.
January 31, 2024
Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Cash equivalents (1):
Money market funds$693 $— $— $693 
Commercial paper250 — — 250 
U.S government securities92 — — 92 
Certificates of deposit80 — — 80 
Other (2)6 — — 6 
Marketable securities:
Short-term
Commercial paper159 — — 159 
Corporate debt securities75 — — 75 
U.S. government securities 70 — — 70 
Asset-backed securities 28 — — 28 
Other (3)22 — — 22 
Long-term
Corporate debt securities103 1 — 104 
Asset backed securities59 — — 59 
Agency mortgage-backed securities36 ——36 
U.S. government securities24 — — 24 
Other (4)11 — — 11 
Mutual funds (5) (6)89 12 (1)100 
Total$1,797 $13 $(1)$1,809 
____________________ 
(1)Included in “Cash and cash equivalents” in the accompanying Condensed Consolidated Balance Sheets. These investments are classified as debt securities.
(2)Consists primarily of mortgage-backed securities and corporate debt securities.
(3)Consists primarily of agency discount bonds, U.S. government securities, mortgage-backed securities, certificates of deposit, and agency bonds.
(4)Consists primarily of agency bonds, agency collateralized mortgage obligations, and mortgage-backed securities.
(5)See Note 12, “Deferred Compensation” for more information.
(6)Included in “Prepaid expenses and other current assets,” or “Long-term other assets,” in the accompanying Condensed Consolidated Balance Sheets.

The following table summarizes the fair values of investments classified as marketable debt securities by contractual maturity date as of April 30, 2024:
Fair Value
Due within 1 year$276 
Due in 1 year through 5 years232 
Due in 5 years through 10 years13 
Due after 10 years25 
Total
$546 
    
As of both April 30, 2024, and January 31, 2024, 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, 2024.

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, 2024, and January 31, 2024. There were no write offs of accrued interest receivables for both the three months ended April 30, 2024 and 2023.

There were no material realized gain or loss for the sales or redemptions of marketable debt securities during both the three months ended April 30, 2024 and 2023. 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.

Proceeds from the sale and maturity of marketable debt securities were as follows:
Three Months Ended April 30,
20242023
Marketable debt securities$262 $163 

Strategic investments in equity securities

As of April 30, 2024, and January 31, 2024, Autodesk had $163 million and $162 million, respectively, in direct investments in privately held companies. 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
20242023April 30, 2024
Upward adjustments$— $— $29 
Negative adjustments, including impairments — — (114)
Net unrealized adjustments$— $— $(85)

Realized gains for the disposition of strategic investment equity securities for both the three months ended April 30, 2024 and 2023 were immaterial.

Fair Value

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, 2024, and January 31, 2024:  
April 30, 2024
Level 1Level 2Level 3Total
Assets:
Cash equivalents (1):
Money market funds$592 $— $— $592 
Commercial paper — 278 — 278 
Certificates of deposit— 83 — 83 
U.S. government securities— 12 — 12 
Corporate debt securities — 10 — 10 
Marketable securities:
Short-term
Commercial paper— 141 — 141 
Corporate debt securities— 73 — 73 
U.S. government securities— 54 — 54 
Asset-backed securities— 25 — 25 
Other (2)— 15 — 15 
Long-term
Corporate debt securities— 107 — 107 
Asset-backed securities— 62 — 62 
Agency mortgage backed securities— 38 — 38 
U.S. government securities— 24 — 24 
Other (3)— 7 — 7 
Long-term other assets:
Mutual funds (4)(5)107 — — 107 
Derivative assets:
Derivative contract assets (5)— 19 — 19 
Derivative liabilities:
Derivative contract liabilities (6)— (14)— (14)
Total$699 $934 $— $1,633 
____________________ 
(1)Included in “Cash and cash equivalents” in the accompanying Condensed Consolidated Balance Sheets. These investments are classified as debt securities.
(2)Primarily consists of agency discount bonds, mortgage-backed securities, agency bonds, and certificates of deposit.
(3)Consists of agency collateralized mortgage obligations, agency bonds, and mortgage-backed securities.
(4)See Note 12, “Deferred Compensation” for more information.
(5)Included in “Prepaid expenses and other current assets” or “Long-term other assets” in the accompanying Condensed Consolidated Balance Sheets.
(6)Included in “Other accrued liabilities” in the accompanying Condensed Consolidated Balance Sheets.
January 31, 2024
Level 1Level 2Level 3Total
Assets:
Cash equivalents (1):
Money market funds$693 $— $— $693 
Commercial paper— 250 — 250 
U.S government securities— 92 — 92 
Certificates of deposit— 80 — 80 
Other (2)— 6 — 6 
Marketable securities:
Short-term
Commercial paper— 159 — 159 
Corporate debt securities— 75 — 75 
U.S. government securities — 70 — 70 
Asset backed securities — 28 — 28 
Other (3)— 22 — 22 
Long-term
Corporate debt securities— 104 — 104 
Asset backed securities— 59 — 59 
Agency bonds— 36 — 36 
U.S. government securities— 24 — 24 
Other (4)— 11 — 11 
Long-term other assets:
Mutual funds (5) (6)100 — — 100 
Derivative assets:
Derivative contract assets (6)— 21 — 21 
Derivative liabilities:
Derivative contract liabilities (7)— (15)— (15)
Total$793 $1,022 $— $1,815 
____________________ 
(1)Included in “Cash and cash equivalents” in the accompanying Condensed Consolidated Balance Sheets. These investments are classified as debt securities.
(2)Consists primarily of mortgage-backed securities and corporate debt securities.
(3)Consists primarily of agency discount bonds, U.S. government securities, mortgage-backed securities, certificates of deposit, and agency bonds.
(4)Consists primarily of agency bonds, agency collateralized mortgage obligations, and mortgage-backed securities.
(5)See Note 12, “Deferred Compensation” for more information.
(6)Included in “Prepaid expenses and other current assets,” or “Long-term other assets,” in the accompanying Condensed Consolidated Balance Sheets.
(7)Included in “Other accrued liabilities” in the accompanying Condensed Consolidated Balance Sheets.