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Leases

3 Months Ended

Apr. 30, 2021

Leases Autodesk has operating leases for real estate, vehicles, and certain equipment. Leases have remaining lease terms of less than 1 year to 69 years, some of which include options to extend the lease with renewal terms from 1 year to 10 years and some of which include options to terminate the leases from less than 1 year to 9 years. Options to extend the lease are included in the lease liability if they are reasonably certain of being exercised. Payments under our lease arrangements are primarily fixed; however, certain lease agreements contain variable payments, which are expensed as incurred and not included in the operating lease assets and liabilities. These amounts include payments affected by the Consumer Price Index, payments for common area maintenance that are subject to annual reconciliation, and payments for maintenance and utilities. The Company’s leases do not contain residual value guarantees or material restrictive covenants. Short-term leases are recognized in the Condensed Consolidated Statements of Operations on a straight-line basis over the lease term. Short-term lease expense was not material for the periods presented. Changes in operating lease right-of-use assets and operating lease liabilities are presented net in the “accounts payable and other liabilities” line in the Condensed Consolidated Statements of Cash Flows.

The components of lease cost were as follows:


	Three Months Ended April 30, 2021
	Cost of subscription and maintenance revenue		Cost of other revenue		Marketing and sales		Research and development		General and administrative		Total
Operating lease cost	$	1.9	$	0.5	$	10.8	$	8.0	$	3.7	$	24.9
Variable lease cost	0.4		0.1		2.3		1.7		0.8		5.3


	Three Months Ended April 30, 2020
	Cost of subscription and maintenance revenue		Cost of other revenue		Marketing and sales		Research and development		General and administrative		Total
Operating lease cost	$	2.0	$	0.7	$	11.5	$	7.9	$	3.4	$	25.5
Variable lease cost	0.3		0.1		1.5		1.1		0.4		3.4

Supplemental operating cash flow information related to leases is as follows:


	Three Months Ended April 30,
	2021		2020
Cash paid for operating leases included in operating cash flows (1)	$	29.9	$	24.9
Non-cash operating lease liabilities arising from obtaining operating lease right-of-use assets	4.5		8.5

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(1) Includes $5.3 million and $3.4 million in variable lease payments for the three months ended April 30, 2021 and 2020, respectively, not included in “Operating lease liabilities” and “Long-term operating lease liabilities” on the Condensed Consolidated Balance Sheets.

The weighted average remaining lease term for operating leases is 7.1 and 7.3 years at April 30, 2021, and January 31, 2021, respectively. The weighted average discount rate was 2.66% and 2.69% at April 30, 2021, and January 31, 2021, respectively.

Maturities of operating lease liabilities were as follows:


Fiscal year ending
2022 (remainder)	$	61.1
2023	98.2
2024	80.3
2025	59.6
2026	45.3
Thereafter	148.8
	493.3
Less imputed interest	40.0
Present value of operating lease liabilities	$	453.3

As of April 30, 2021, Autodesk had no additional operating lease minimum lease payments for executed leases that have not yet commenced.