Income Taxes (Tables)

12 Months Ended

Jan. 31, 2022

Income Tax Disclosure [Abstract]

Provision for Income Taxes

The provision for income taxes consists of the following:

	Fiscal year ended January 31,
	2022		2021		2020
Federal:
Current	$	(0.5)	$	9.8	$	(2.3)
Deferred	(5.4)		(741.0)		7.6
State:
Current	2.5		19.0		(0.4)
Deferred	0.3		(57.5)		2.1
Foreign:
Current	82.5		87.6		69.6
Deferred	(11.7)		20.6		3.7
Income tax provision (benefit)	$	67.7	$	(661.5)	$	80.3

Differences Between The U.S. Statutory Rate and The Aggregate Income Tax Provision

The differences between the U.S. statutory rate and the aggregate income tax provision are as follows:

	Fiscal year ended January 31,
	2022		2021		2020
Income tax provision at U.S. Federal statutory rate	$	118.6	$	114.8	$	61.9
State income tax benefit, net of the U.S. Federal benefit	2.2		(43.0)		1.8
Foreign income taxed at rates different from the U.S. statutory rate	(25.4)		(11.5)		(81.0)
Valuation allowance adjustment	(0.2)		(637.4)		93.9
Transition tax and revisions due to subsequent regulations	—		—		9.6
Tax effect of non-deductible stock-based compensation	32.3		24.8		29.2
Stock compensation (windfall) / shortfall	(43.2)		(35.1)		(22.5)
Research and development tax credit benefit	(18.5)		(15.5)		(19.8)
Closure of income tax audits and changes in uncertain tax positions	(0.4)		0.1		(2.1)
Tax effect of officer compensation in excess of $1.0 million	7.0		4.6		3.4
Non-deductible expenses	4.5		2.3		5.4
Global intangible low-taxed income, foreign derived intangible income	24.1		(65.0)		—
India withholding tax refund	(43.8)		—		—
Acquisition-related integrations	9.0		—		—
Other	1.5		(0.6)		0.5
Income tax provision (benefit)	$	67.7	$	(661.5)	$	80.3

  _______________

(1) The above comparative for fiscal 2021 and fiscal 2020 have reclassified to conform to the current period presentation.

Components of Deferred Tax Assets and Liabilities

Significant components of Autodesk’s deferred tax assets and liabilities are as follows:

	January 31,
	2022		2021
Stock-based compensation	$	55.8	$	39.0
Research and development tax credit carryforwards	249.7		220.4
Foreign tax credit carryforwards	55.9		69.9
Accrued compensation and benefits	5.7		3.4
Other accruals not currently deductible for tax	23.0		14.1
Purchased technology and capitalized software	88.4		48.2
Fixed assets	24.5		8.1
Lease liability	105.7		114.2
Tax loss carryforwards	53.0		65.5
Deferred revenue	389.6		501.5
Other	23.3		40.2
Total deferred tax assets	1,074.6		1,124.5
Less: valuation allowance	(188.3)		(186.5)
Net deferred tax assets	886.3		938.0
Indefinite lived intangibles	(95.4)		(83.1)
Right-of-use assets	(73.7)		(101.6)
Unremitted earnings of foreign subsidiaries	(5.5)		(1.6)
Total deferred tax liabilities	(174.6)		(186.3)
Net deferred tax assets (liabilities)	$	711.7	$	751.7

Unrecognized Tax Benefits Reconciliation

A reconciliation of the beginning and ending amount of the gross unrecognized tax benefits is as follows:

	Fiscal Year Ended January 31,
	2022		2021		2020
Gross unrecognized tax benefits at the beginning of the fiscal year	$	198.0	$	220.6	$	209.0
Increases for tax positions of prior years	9.0		12.7		2.8
Decreases for tax positions of prior years	(6.6)		(41.1)		(0.4)
Increases for tax positions related to the current year	6.7		6.4		11.1
Decreases relating to settlements with taxing authorities	—		—		—
Reductions as a result of lapse of the statute of limitations	(0.4)		(0.6)		(1.9)
Gross unrecognized tax benefits at the end of the fiscal year	$	206.7	$	198.0	$	220.6