SUPPLEMENTAL CONSOLIDATED FINANCIAL STATEMENT INFORMATION |
SUPPLEMENTAL CONSOLIDATED FINANCIAL STATEMENT INFORMATION Consolidated Balance Sheets
Inventories consisted of the following as of January 31, 2023 and 2022: | | | | | | | | | | | | | | | | | January 31, | (in thousands) | | 2023 | | 2022 | Raw materials | | $ | 3,325 | | | $ | 3,001 | | Work-in-process | | 40 | | | 150 | | Finished goods | | 9,263 | | | 2,186 | | Total inventories | | $ | 12,628 | | | $ | 5,337 | |
Property and equipment, net consisted of the following as of January 31, 2023 and 2022: | | | | | | | | | | | | | | | | | January 31, | (in thousands) | | 2023 | | 2022 | Land and buildings | | $ | 820 | | | $ | 7,994 | | Leasehold improvements | | 15,026 | | | 18,155 | | Software | | 73,569 | | | 76,152 | | Equipment, furniture, and other | | 41,966 | | | 64,363 | | Total cost | | 131,381 | | | 166,664 | | Less: accumulated depreciation and amortization | | (66,571) | | | (102,574) | | Total property and equipment, net | | $ | 64,810 | | | $ | 64,090 | |
Depreciation expense on property and equipment was $18.6 million, $20.7 million, and $30.6 million in the years ended January 31, 2023, 2022, and 2021, respectively.
Prepaid and other current assets consisted of the following as of January 31, 2023 and 2022:
| | | | | | | | | | | | | | | | | January 31, | (in thousands) | | 2023 | | 2022 | Prepaid expenses | | $ | 24,364 | | | $ | 22,639 | | Other current assets | | 27,257 | | | 31,113 | | Insurance recovery receivable | | 12,503 | | | — | | CTI litigation settlement indemnification asset - current portion | | 11,250 | | | — | | Total prepaid expenses and other current assets | | $ | 75,374 | | | $ | 53,752 | |
Other assets consisted of the following as of January 31, 2023 and 2022: | | | | | | | | | | | | | | | | | January 31, | (in thousands) | | 2023 | | 2022 | Deferred commissions | | $ | 54,512 | | | $ | 51,714 | | Long-term contract assets, net | | 37,950 | | | 30,510 | | Capitalized software development costs, net | | 23,527 | | | 22,483 | | Noncontrolling equity investments | | 5,146 | | | 5,146 | | Long-term deferred cost of revenue | | 4,951 | | | 5,907 | | CTI litigation settlement indemnification asset - long-term portion | | 4,750 | | | — | | Deferred debt issuance costs, net | | 1,485 | | | 1,950 | | Long-term restricted cash and time deposits | | 287 | | | 409 | | Other | | 15,674 | | | 8,519 | | Total other assets | | $ | 148,282 | | | $ | 126,638 | |
Accrued expenses and other current liabilities consisted of the following as of January 31, 2023 and 2022: | | | | | | | | | | | | | | | | | January 31, | (in thousands) | | 2023 | | 2022 | Compensation and benefits | | $ | 73,766 | | | $ | 86,777 | | Taxes other than income taxes | | 16,346 | | | 16,313 | | Preferred Stock dividends payable | | 10,400 | | | 10,400 | | CTI litigation settlement liability - current portion | | 11,250 | | | — | | Operating lease obligations - current portion | | 7,965 | | | 24,551 | | DOJ legal settlement liability | | 7,000 | | | — | | Contingent consideration - current portion | | 4,496 | | | 7,776 | | Professional and consulting fees | | 2,635 | | | 3,771 | | Income taxes | | 443 | | | 602 | | Other | | 21,643 | | | 18,504 | | Total accrued expenses and other current liabilities | | $ | 155,944 | | | $ | 168,694 | |
Other liabilities consisted of the following as of January 31, 2023 and 2022:
| | | | | | | | | | | | | | | | | January 31 | (in thousands) | | 2023 | | 2022 | Unrecognized tax benefits, including interest and penalties | | $ | 52,887 | | | $ | 16,345 | | Contingent consideration - long-term portion | | 8,221 | | | — | | CTI litigation settlement liability - long-term portion | | 4,750 | | | — | | Finance lease obligations - long-term portion | | 2,308 | | | 3,831 | | Other | | 466 | | | 1,820 | | Total other liabilities | | $ | 68,632 | | | $ | 21,996 | |
Consolidated Statements of Operations Other income (expense), net consisted of the following for the years ended January 31, 2023, 2022, and 2021: | | | | | | | | | | | | | | | | | | | | | | | Year Ended January 31, | (in thousands) | | 2023 | | 2022 | | 2021 | Foreign currency gains (losses), net | | $ | 3,453 | | | $ | (1,644) | | | $ | (1,584) | | Losses on derivative financial instruments, net | | — | | | (14,374) | | | (1,267) | | Change in fair value of future tranche right | | — | | | 15,810 | | | (56,146) | | Other, net | | (1,471) | | | 5,435 | | | (1,604) | | Total other income (expense), net | | $ | 1,982 | | | $ | 5,227 | | | $ | (60,601) | |
Please refer to Note 10, “Convertible Preferred Stock” for additional information regarding the future tranche right.
Consolidated Statements of Cash Flows The following table provides supplemental information regarding our consolidated cash flows for the years ended January 31, 2023, 2022, and 2021: | | | | | | | | | | | | | | | | | | | | | | | Year Ended January 31, | (in thousands) | | 2023 | | 2022 | | 2021 | Cash paid for interest | | $ | 4,661 | | | $ | 9,716 | | | $ | 24,612 | | Cash payments of income taxes, net | | $ | 15,886 | | | $ | 42,917 | | | $ | 21,476 | | Non-cash investing and financing transactions: | | | | | | | Liabilities for contingent consideration in business combinations | | $ | 12,184 | | | $ | 900 | | | $ | — | | Preferred Stock dividends declared | | $ | 10,400 | | | $ | 10,400 | | | $ | 5,200 | | Finance leases of property and equipment | | $ | 647 | | | $ | 4,041 | | | $ | 903 | | Settlement of Future Tranche Right upon issuance of Series B Preferred Stock | | $ | — | | | $ | 36,962 | | | $ | — | | Retirement of treasury stock | | $ | 106,146 | | | $ | 234,999 | | | $ | — | | Settlement of convertible note premium with common stock | | $ | — | | | $ | 59,131 | | | $ | — | | Receipt of common stock from the counterparties under the Note Hedges | | $ | — | | | $ | 59,651 | | | $ | — | | Accrued but unpaid purchases of property and equipment | | $ | 2,353 | | | $ | 750 | | | $ | 2,731 | | Accrued but unpaid purchases of treasury stock | | $ | 616 | | | $ | — | | | $ | — | |
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