Equity Compensation (Tables)

6 Months Ended

Jul. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Summary of Restricted Stock Activity

A summary of restricted stock activity for the six months ended July 31, 2023, is as follows:

	Unvested restricted stock units	Weighted average grant date fair value per share
	(in thousands)
Unvested restricted stock units at January 31, 2023	4,848	$	216.20
Granted	3,394	199.00
Vested	(1,858)	213.16
Canceled/Forfeited	(173)	217.00
Performance Adjustment (1)	(10)	190.48
Unvested restricted stock units at July 31, 2023	6,201	$	207.70

_______________(1)Based on Autodesk's financial results and relative total stockholder return for the fiscal 2023 performance period. The performance stock units were attained at rates ranging from 86% to 110% of the target award.

Schedule of Summary of the ESPP Activity

A summary of the ESPP activity for the six months ended July 31, 2023 and 2022, is as follows:

	Six Months Ended July 31,
	2023		2022
Issued shares (in thousands)	434		377
Average price of issued shares	$	163.59	$	173.83
Weighted average grant date fair value of shares granted under the ESPP (1)	$	71.34	$	69.19

 _______________

(1)Calculated as of the award grant date using the Black-Scholes Merton (“BSM”) option pricing model.

Schedule of Stock-based Compensation Expense

The following table summarizes stock-based compensation expense for the three and six months ended July 31, 2023 and 2022, as follows:

	Three Months Ended July 31,				Six Months Ended July 31,
	2023		2022		2023		2022
Cost of subscription and maintenance revenue	$	10	$	9	$	19	$	17
Cost of other revenue	4		3		7		6
Marketing and sales	74		69		136		131
Research and development	86		69		155		128
General and administrative	23		19		45		42
Stock-based compensation expense related to stock awards and ESPP purchases	197		169		362		324
Tax expense	2		3		3		9
Stock-based compensation expense related to stock awards and ESPP purchases, net of tax	$	199	$	172	$	365	$	333

Schedule of Assumptions to Estimate the Fair Value of Stock-based Awards

Autodesk uses the following assumptions to estimate the fair value of stock-based awards:

	Six Months Ended July 31, 2023		Six Months Ended July 31, 2022
	Performance Stock Units (1)	ESPP (1)	Performance Stock Units (2)	ESPP (2)
Range of expected volatility	40.9 - 42.5%	40.0 - 42.4%	39.4 - 40.7%	38.3 - 42.7%
Range of expected lives (in years)	N/A	0.5- 2.0	N/A	0.5 - 2.0
Expected dividends	—%	—%	—%	—%
Range of risk-free interest rates	4.3 - 4.7%	4.3 -5.0%	1.2 - 1.6%	0.9 - 1.9%

(1)There were no ESPP awards or performance stock units granted during the three months ended July 31, 2023.

(2)There were no ESPP awards granted during the three months ended July 31, 2022. There were no performance stock units granted during the three months ended July 31, 2022, where the fair value was estimated by a Monte Carlo simulation.