Autodesk, Inc 10-K for FY2026

Autodesk, Inc. (ADSK)

10-K 2026-03-03 For: 2026-01-31

Added on April 10, 2026

About this 10-K

Autodesk, Inc filed this 10-K on March 3, 2026, covering the fiscal year ended January 31, 2026 (FY2026).

Headline figures

Fiscal year ended January 31, 2026, as reported in this filing, compared with the same period a year earlier where the filing states it.

Revenue: $7.21B; up 17.5% from $6.13B a year earlier
Net income: $1.12B; up 1.1% from net income of $1.11B a year earlier
Diluted EPS: $5.23; up 2.1% from $5.12 a year earlier

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Delaware		94-2819853
(State or other jurisdiction of incorporation or organization)		(I.R.S. employer Identification No.)

One Market Street, Ste. 400
San Francisco,	California	94105
(Address of principal executive offices)		(Zip Code)


		Page
PART I

Item 1.	Business	5

Item 1A.	Risk Factors	15

Item 1B.	Unresolved Staff Comments	35

Item 1C.	Cybersecurity	36

Item 2.	Properties	36

Item 3.	Legal Proceedings	36

Item 4.	Mine Safety Disclosures	37

PART II

Item 5.	Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities	38

Item 6.	[Reserved]	40

Item 7.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	41

Item 7A.	Quantitative and Qualitative Disclosures About Market Risk	64

Item 8.	Financial Statements and Supplementary Data	65

Item 9.	Changes in and Disagreements with Accountants on Accounting and Financial Disclosure	107

Item 9A.	Controls and Procedures	107

Item 9B.	Other Information	107

Item 9C.	Disclosure Regarding Foreign Jurisdictions that Prevent Inspections.	107

PART III

Item 10.	Directors, Executive Officers and Corporate Governance	108

Item 11.	Executive Compensation	109

Item 12.	Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters	109

Item 13.	Certain Relationships and Related Transactions, and Director Independence	109

Item 14.	Principal Accounting Fees and Services	109

PART IV

Item 15.	Exhibits and Financial Statement Schedules	110

Item 16.	Form 10-K Summary	110

	Signatures	113


(Shares in thousands)	Total Number of Shares Purchased	Average Price Paid per Share		Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs(1)	Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs (in millions) (2)
November 1 - November 30	513	$	297.10	513	$7,663
December 1 - December 31	348	301.94		348	7,557
January 1 - January 31	274	267.60		274	7,484
Total	1,135	$	291.47	1,135


	Fiscal Year Ended January 31, 2026			Change compared to prior fiscal year end				Fiscal Year Ended January 31, 2025			Change compared to prior fiscal year end				Fiscal Year Ended January 31, 2024
				$		%					$		%
Recurring Revenue (in millions) (1)	$	7,024		$	1,050	18	%	$	5,974		$	597	11	%	$	5,377
As a percentage of net revenue	97		%	N/A		N/A		97		%	N/A		N/A		98		%


	Fiscal Year Ended January 31, 2026
	Percent change compared to prior fiscal year (as reported)		Constant currency percent change compared to prior fiscal year (1)		Positive/negative/neutral impact from foreign exchange rate changes
Net revenue	18	%	18	%	Neutral
Total spend	18	%	18	%	Neutral


☒			ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934


☐			TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934


(in millions)	January 31, 2026		January 31, 2025
Deferred revenue	$	4,693	$	4,128
Unbilled deferred revenue	3,607		2,810
RPO	$	8,300	$	6,938


	Fiscal Year Ended January 31, 2026		Change compared to prior fiscal year				Fiscal Year Ended January 31, 2025		Management Comments
(in millions, except percentages)			$		%
Net revenue:
Subscription	$	6,743	$	1,026	18	%	$	5,717	Increase due to growth in subscriptions from our existing customer base.
Maintenance	33		(8)		(20)	%	41
Total subscription and maintenance revenue	6,776		1,018		18	%	5,758
Other	430		57		15	%	373
	$	7,206	$	1,075	18	%	$	6,131


	Fiscal Year Ended January 31, 2026		Change compared to prior fiscal year				Constant currency change compared to prior fiscal year		Fiscal Year Ended January 31, 2025		Change compared to prior fiscal year				Constant currency change compared to prior fiscal year		Fiscal Year Ended January 31, 2024

(in millions, except percentages)			$		%		%				$		%		%

Net revenue:
Americas
U.S.	$	2,566	$	338	15	%	*		$	2,228	$	250	13	%	*		$	1,978
Other Americas	612		124		25	%	*		488		28		6	%	*		460
Total Americas	3,178		462		17	%	17	%	2,716		278		11	%	12	%	2,438
EMEA	2,794		487		21	%	21	%	2,307		265		13	%	13	%	2,042
APAC	1,234		126		11	%	14	%	1,108		91		9	%	13	%	1,017
Total net revenue	$	7,206	$	1,075	18	%	18	%	$	6,131	$	634	12	%	13	%	$	5,497


	Fiscal Year Ended January 31, 2026		Change compared to prior fiscal year				Fiscal Year Ended January 31, 2025
(In millions, except percentages)			$		%				Management Comments
Net Revenue by Product Type:
Design	$	5,980	$	876	17	%	$	5,104	Increase primarily due to growth in AEC collections, EBA offerings, AutoCAD, AutoCAD LT, and MFG collections.
Make	796		142		22	%	654		Increase primarily due to growth in revenue from Autodesk Construction Cloud (now known as Forma for Construction) and Fusion.
Other	430		57		15	%	373
Total Net Revenue	$	7,206	$	1,075	18	%	$	6,131

	Fiscal Year Ended January 31, 2025		Change compared to prior fiscal year				Fiscal Year Ended January 31, 2024
(In millions, except percentages)			$		%				Management Comments
Net Revenue by Product Type:
Design	$	5,104	$	457	10	%	$	4,647	Increase primarily due to growth in AEC collections, AutoCAD Family, MFG collections, and EBA offerings.
Make	654		131		25	%	523		Increase primarily due to growth in revenue from Autodesk Construction Cloud (now known as Forma for Construction), Fusion, and PIX.
Other	373		46		14	%	327
Total Net Revenue	$	6,131	$	634	12	%	$	5,497


	Fiscal year ended January 31,
	2026		2025		2024
	(in millions)
Interest and investment income, net	$	20	$	28	$	26
Gain on foreign currency	7		6		10
Loss on strategic investments	(9)		(10)		(32)
Other income	7		6		4
Interest and other income, net	$	25	$	30	$	8


(in millions)	Total		Fiscal year 2027		Fiscal years 2028-2029		Fiscal years 2030-2031		Thereafter		Management Comments
Notes payable	$	2,970	$	82	$	636	$	615	$	1,637	Notes payable consist of the notes issued in June 2017, January 2020, October 2021, and June 2025 including interest. See Part II, Item 8, Note 8, “Borrowing Arrangements,” in the Notes to Consolidated Financial Statements for further information.
Operating leases	275		60		117		67		31		Operating lease obligations consist of obligations for real estate and certain equipment. See Part II, Item 8, Note 9, “Leases,” in the Notes to Consolidated Financial Statements for further information.
Purchase obligations	618		303		300		10		5		Purchase obligations are contractual obligations for purchase of goods or services and are defined as agreements that are enforceable and legally binding to Autodesk and that specify all significant terms, including: fixed or minimum quantities to be purchased; fixed, minimum, or variable price provisions; and the approximate timing of the transaction. Purchase obligations relate primarily to acquisition of cloud services, marketing, and commitments related to our investment agreements with limited liability partnership funds.
Deferred compensation obligations	137		14		30		28		65		Deferred compensation obligations relate to amounts held in a rabbi trust under our non-qualified deferred compensation plan. See Part II, Item 8, Note 3, “Financial Instruments,” in our Notes to Consolidated Financial Statements for further information.
Pension obligations	49		5		9		10		25		Pension obligations relate to our obligations for pension plans outside of the United States. See Part II, Item 8, Note 18, “Retirement Benefit Plans,” in our Notes to Consolidated Financial Statements for further information.
Asset retirement obligations	13		4		5		2		2		Asset retirement obligations represent the estimated costs to restore certain office buildings that we lease back to their original condition after the termination of the lease.
Total (1)	$	4,062	$	468	$	1,097	$	732	$	1,765


	January 31, 2026				January 31, 2025
	Notional Amount		Fair Value		Notional Amount		Fair Value
Forward Contracts:
Purchased	$	1,743	$	18	$	1,152	$	(20)
Sold	2,166		(20)		1,894		8
Option Contracts:
Purchased	1,597		12		1,269		24
Sold	1,698		(13)		1,349		(5)


	January 31, 2026		January 31, 2025
ASSETS
Current assets:
Cash and cash equivalents	$	2,249	$	1,599
Marketable securities	348		287
Accounts receivable, net	1,439		1,008

Prepaid expenses and other current assets	906		588
Total current assets	4,942		3,482
Long-term marketable securities	376		267
Computer equipment, software, furniture, and leasehold improvements, net	121		117
Operating lease right-of-use assets	157		169
Intangible assets, net	467		574
Goodwill	4,295		4,242
Deferred income taxes, net	842		1,205
Long-term other assets	1,267		777
Total assets	$	12,467	$	10,833
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	422	$	242
Accrued compensation	659		506
Accrued income taxes	54		62
Deferred revenue	4,406		3,787

Operating lease liabilities	52		58
Current portion of long-term notes payable, net	—		300
Other accrued liabilities	215		196
Total current liabilities	5,808		5,151
Long-term deferred revenue	287		341
Long-term operating lease liabilities	199		214
Long-term income taxes payable	181		200
Long-term deferred income taxes	40		32
Long-term notes payable, net	2,483		1,987
Long-term other liabilities	424		287
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.01 par value; shares authorized 2; none issued or outstanding at January 31, 2026 and 2025	—		—
Common stock and additional paid-in capital, $0.01 par value; shares authorized 750; 212 and 214 issued and outstanding at January 31, 2026 and 2025, respectively.	4,709		4,239
Accumulated other comprehensive loss	(232)		(285)
Accumulated deficit	(1,432)		(1,333)
Total stockholders’ equity	3,045		2,621
Total liabilities and stockholders' equity	$	12,467	$	10,833


	Fiscal Year Ended January 31, 2026		Change compared to prior fiscal year				Fiscal Year Ended January 31, 2025		Management Comments

(In millions, except percentages)			$		%
Cost of revenue:
Subscription	$	463	$	50	12	%	$	413	Increase primarily due to employee-related costs driven by higher headcount and merit increases and an increase in cloud hosting costs.
Other	90		10		13	%	80		Increase primarily due to employee-related costs.
Amortization of developed technologies	97		12		14	%	85		Increase is due to amortization of acquired developed technologies related to acquisitions in fiscal 2025 and an increase in amortization related to capitalized software costs.
Total cost of revenue	$	650	$	72	12	%	$	578

Operating expenses:
Marketing and sales	$	2,373	$	373	19	%	$	2,000	Increase primarily due to an increase in sales commissions to Solution Providers due to the recognition of these costs in marketing and sales expense under the new transaction model and professional fees.
Research and development	1,643		158		11	%	1,485		Increase primarily due to employee-related costs driven by higher headcount and merit increases and an increase in cloud hosting costs.
General and administrative	693		43		7	%	650		Increase primarily due to an increase in charitable contributions to the Autodesk Foundation and employee-related costs partially offset by a decrease in acquisition-related costs.
Amortization of purchased intangibles	53		4		8	%	49		No material change as compared to the prior period.
Restructuring, other exit costs, and facility reductions	216		201		1,340	%	15		The increase is due to the restructuring plans the Company initiated during fiscal 2026. See Part II, Item 8, Note 11 “Restructuring, other exit costs, and facility reductions” for more details.
Total operating expenses	$	4,978	$	779	19	%	$	4,199


	Fiscal Year Ended January 31, 2025		Change compared to prior fiscal year				Fiscal Year Ended January 31, 2024		Management comments

(In millions, except percentages)			$		%
Cost of revenue:
Subscription	$	413	$	32	8	%	$	381	Increase primarily due to employee-related costs driven by higher headcount and an increase in cloud hosting costs.
Other	80		(2)		(2)	%	82		Decrease primarily due to decrease in professional fees and stock-based compensation expense.
Amortization of developed technologies	85		37		77	%	48		Increase is primarily due to amortization of acquired developed technologies related to acquisitions in fiscal 2025.
Total cost of revenue	$	578	$	67	13	%	$	511

Operating expenses:
Marketing and sales	$	2,000	$	177	10	%	$	1,823	Increase primarily due to an increase in employee-related costs mostly related to headcount growth, merit increases and internal sales commissions, partially offset by a decrease in stock-based compensation expense. Also, due to an increase in sales commissions to Solution Providers due to the recognition of these costs in marketing and sales expense under the new transaction model, cloud hosting costs, and professional fees partially offset by an increase in capitalized software costs.
Research and development	1,485		112		8	%	1,373		Increase primarily due to employee-related costs driven by higher headcount and merit increases and an increase in cloud hosting costs and professional fees partially offset by an increase in capitalized software costs.
General and administrative	650		30		5	%	620		Increase primarily due to an increase in employee-related costs driven by higher headcount and merit increases and an increase in cloud hosting costs partially offset by a decrease in charitable contributions to the Autodesk Foundation and a decrease in lease-related asset impairment and other charges.
Amortization of purchased intangibles	49		7		17	%	42		The increase is primarily due to amortization of acquired intangibles as a result of acquisitions in fiscal 2025 offset by previously acquired assets that continue to become fully amortized.
Restructuring, other exit costs, and facility reductions	$	15	$	15	NM		$	—	The increase is due to the restructuring plan the Company initiated during fiscal 2026. See Part II, Item 8, Note 11 “Restructuring, other exit costs, and facility reductions” for more details.
Total operating expenses	$	4,199	$	341	9	%	$	3,858


	Fiscal Year Ended January 31,
	2026			2025			2024
	(Unaudited)
Gross profit	$	6,556		$	5,553		$	4,986
Non-GAAP gross profit	$	6,703		$	5,683		$	5,080
Income from operations	$	1,578		$	1,354		$	1,128
Non-GAAP income from operations	$	2,737		$	2,231		$	1,962
Operating margin	22		%	22		%	21		%
Non-GAAP operating margin	38		%	36		%	36		%
Net income	$	1,124		$	1,112		$	906
Non-GAAP net income	$	2,242		$	1,839		$	1,642
Diluted net income per share	$	5.23		$	5.12		$	4.19
Non-GAAP diluted net income per share	$	10.43		$	8.47		$	7.60


	Fiscal Year Ended January 31,
	2026			2025			2024
	(Unaudited)
Gross profit	$	6,556		$	5,553		$	4,986
Stock-based compensation expense	58			50			51
Amortization of developed technologies	89			80			43

Non-GAAP gross profit	$	6,703		$	5,683		$	5,080

Income from operations	$	1,578		$	1,354		$	1,128
Stock-based compensation expense	788			686			703
Amortization of purchased intangibles and developed technologies	139			129			84
Acquisition-related costs	16			47			33
Lease-related asset impairments and other charges	—			—			14
Restructuring, other exit costs, and facility reductions	216			15			—
Non-GAAP income from operations	$	2,737		$	2,231		$	1,962

Operating margin	22		%	22		%	21		%
Stock-based compensation expense	11		%	11		%	13		%
Amortization of purchased intangibles and developed technologies	2		%	2		%	2		%
Acquisition-related costs	—		%	1		%	1		%

Restructuring, other exit costs, and facility reductions	3		%	—		%	—		%
Non-GAAP operating margin (1)	38		%	36		%	36		%

Net income	$	1,124		$	1,112		$	906
Stock-based compensation expense	788			686			703
Amortization of purchased intangibles and developed technologies	139			129			84
Acquisition-related costs	16			47			33
Lease-related asset impairments and other charges	—			—			14
Restructuring, other exit costs, and facility reductions	215			15			—
Loss (gain) on strategic investments and dispositions, net	9			10			32
Income tax adjustments	(49)			(160)			(130)
Non-GAAP net income	$	2,242		$	1,839		$	1,642

Diluted net income per share	$	5.23		$	5.12		$	4.19
Stock-based compensation expense	3.67			3.15			3.26
Amortization of purchased intangibles and developed technologies	0.65			0.60			0.39


			January 31, 2026
			Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Cash equivalents (1):
	Money market funds		$	1,107	$	—	$	—	$	1,107
	Commercial paper		163		—		—		163
	Certificates of deposit		54		—		—		54
	U.S. government securities		96		—		—		96


	Other (2)		1		—		—		1
Marketable securities:
	Short-term
		Commercial paper	155		—		—		155
		Corporate debt securities	66		—		—		66
		U.S. government securities	67		—		—		67
		Asset backed securities	25		—		—		25
		Certificates of deposit	16		—		—		16

		Other (3)	19		—		—		19
	Long-term
		Corporate debt securities	156		1		—		157
		Asset backed securities	85		—		—		85
		U.S. government securities	83		—		—		83
		Agency mortgage-backed securities	23		—		—		23

		Other (4)	28		—		—		28
Mutual funds (5)			117		20		—		137
		Total	$	2,261	$	21	$	—	$	2,282


	Fair Value
Due within 1 year	$	314
Due in 1 year through 5 years	384
Due in 5 years through 10 years	20
Due after 10 years	6
Total	$	724


	Fiscal Year Ended						Cumulative Amount as of
	2026		2025		2024		January 31, 2026
Upward adjustments	$	—	$	—	$	—	$	29
Negative adjustments, including impairments	(18)		(8)		(28)		(140)
Net adjustments	$	(18)	$	(8)	$	(28)	$	(111)


			January 31, 2026
				Level 1		Level 2		Level 3		Total
Cash equivalents (1):
	Money market funds			$	1,107	$	—	$	—	$	1,107
	Commercial paper			—		163		—		163
	Certificates of deposit			—		54		—		54
	U.S. government securities			—		96		—		96


	Other (2)			—		1		—		1
Marketable securities:
	Short-term
		Commercial paper		—		155		—		155
		Corporate debt securities		—		66		—		66
		U.S. government securities		—		67		—		67
		Asset backed securities		—		25		—		25
		Certificates of deposit		—		16		—		16

		Other (3)		—		19		—		19
	Long-term
		Corporate debt securities		—		157		—		157
		Asset backed securities		—		85		—		85
		U.S. government securities		—		83		—		83
		Agency bonds		—		23		—		23

		Other (4)		—		28		—		28
Long-term other assets:
		Mutual funds (5)		137		—		—		137
Derivative assets:
		Derivative contract assets (6)		—		26		—		26
Derivative liabilities:
		Derivative contract liabilities (7)		—		(28)		—		(28)
Total				$	1,244	$	1,036	$	—	$	2,280


	Unreleased Restricted Stock Units (in thousands)	Weighted average grant date fair value per share
Unvested restricted stock at January 31, 2025	5,188	$	229.09
Granted	2,860	265.58
Vested	(3,048)	225.56
Canceled/Forfeited	(529)	236.92
Performance Adjustment (1)	6	275.23
Unvested restricted stock at January 31, 2026	4,477	$	255.39


	(a)	(b)		(c)
Plan category	Number of securities to be issued upon exercise or vesting of outstanding options and awards (in millions)	Weighted-average exercise price of outstanding options		Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a)) (in millions) (1)
Equity compensation plans approved by security holders	4	$	22.19	27
Total	4	$	22.19	27


	Fiscal year ended January 31, 2026
U.S. federal statutory tax rate	$	337	21	%
State and local income taxes, net of federal income tax effect	13		1	%
Foreign tax effects
Australia
Changes in valuation allowances	19		1	%
Other	(3)		—	%
Brazil
Withholding taxes	20		1	%

Ireland
Statutory income tax rate differential	(74)		(5)	%
Other	20		1	%
Other withholding taxes	54		3	%
Other foreign jurisdictions	(8)		—	%

Effect of cross-border tax laws
Net controlled foreign corporation tested income	164		10	%
Other effects on cross-border tax laws	(12)		(1)	%
Tax credits
Foreign tax credits	(73)		(5)	%
Research and development tax credits	(30)		(2)	%

Nontaxable or non-deductible items
Tax effect of non-deductible stock-based compensation	65		4	%
Other nontaxable or non-deductible items	13		1	%
Changes in unrecognized tax benefits	(30)		(2)	%
Other adjustments
Stock compensation excess benefits	(29)		(2)	%
Other adjustments	33		2	%
Income tax provision (1)	$	479	30	%


	January 31,
	2026		2025
Stock-based compensation	$	55	$	55
Research and development tax credit carryforwards	139		109
Foreign tax credit carryforwards	44		20
Accrued compensation and benefits	52		19
Other accruals not currently deductible for tax	18		15
Capitalized research and development	392		696
Fixed assets	12		18
Lease liability	54		61
Tax loss carryforwards	304		14
Deferred revenue	—		427
Purchased technology	55		38
Other	65		40
Total deferred tax assets	1,190		1,512
Less: valuation allowance	(156)		(131)
Net deferred tax assets	1,034		1,381
Indefinite lived intangibles	(166)		(143)
Right-of-use assets	(34)		(37)
Deferred taxes on foreign earnings	(24)		(28)
Other	(8)		—
Total deferred tax liabilities	(232)		(208)
Net deferred tax assets	$	802	$	1,173


	Fiscal year ended January 31,
	2026
Federal	$	—
State	(1)
Foreign	—
Brazil	19
Ireland	119
Singapore	15
Other foreign jurisdictions	106
Total cash taxes paid	$	258


	2026		2025
Trade accounts receivable	$	1,535	$	1,086
Less: Allowance for credit losses	(4)		(3)
Product returns reserve	(13)		(8)
Partner programs and other obligations	(79)		(67)
Accounts receivable, net	$	1,439	$	1,008



	Gross Carrying Amount		Accumulated Amortization		Net
Customer relationships	$	749	$	(534)	$	215
Developed technologies	1,189		(947)		242
Trade names and patents	122		(118)		4
Other	9		(3)		6
Total intangible assets	$	2,069	$	(1,602)	$	467


	Fiscal Year ended January 31,
2027	$	156
2028	105
2029	80
2030	31
2031	16
Thereafter	79
Total	$	467


	2026		2025
Computer hardware, at cost	$	90	$	103
Computer software, at cost	61		42
Furniture and equipment, at cost	104		100
Leasehold improvements, land and buildings, at cost	349		333
	604		578
Less: Accumulated depreciation	(483)		(461)
Computer equipment, software, furniture, and leasehold improvements, net	$	121	$	117


	2026		2025
Goodwill beginning of the year (1)	$	4,242	$	3,653
Additions arising from acquisitions during the year	—		619
Effect of foreign currency translation and measurement period adjustments (2)	53		(30)

Goodwill, end of the year (1)	$	4,295	$	4,242


Instrument	Date of Issuance	Principal Outstanding		Fair value
5.30% Senior Notes due June 15, 2035 (1)	June 2025	$	500	$	514
2.40% Senior Notes due December 15, 2031	October 2021	1,000		889
2.85% Senior Notes due January 15, 2030	January 2020	500		473
3.50% Senior Notes due June 15, 2027	June 2017	500		496
Total principal outstanding		2,500
Less unamortized debt discount and issuance costs (2)		17
Total notes payable, net		$	2,483


Fiscal year ending
2027	$	—
2028	500
2029	—
2030	500
2031	—
Thereafter	1,500
Total principal outstanding	$	2,500


	Fiscal Year Ended January 31, 2026
	Cost of subscription and maintenance revenue		Cost of other revenue		Marketing and sales		Research and development		General and administrative		Total
Operating lease cost	$	6	$	2	$	20	$	21	$	9	$	58
Variable lease cost	1		—		3		4		2		10


	Balances, January 31, 2025		Additions (3)		Payments		Balances, January 31, 2026
January 2026 Plan
Employee terminations costs (1)	$	—	$	98	$	(1)	$	97
Other exit costs (2)	—		2		—		2
2026 Plan
Employee terminations costs (1)	15		93		(107)		1
Other exit costs (2)	—		4		(4)		—
Total	$	15	$	197	$	(112)	$	100


	Net Unrealized Gains (Losses) on Derivative Instruments		Net Unrealized Gains (Losses) on Available for Sale Securities		Defined Benefit Pension Components		Foreign Currency Translation Adjustments		Total
Balances, January 31, 2024	$	23	$	20	$	(24)	$	(253)	$	(234)
Other comprehensive income (loss) before reclassifications	13		1		(2)		(50)		(38)
Pre-tax (gain) loss reclassified from accumulated other comprehensive income	(14)		(1)		1		—		(14)
Tax effects	2		—		—		(1)		1
Net current period other comprehensive (loss) income	1		—		(1)		(51)		(51)
Balances, January 31, 2025	24		20		(25)		(304)		(285)
Other comprehensive income (loss) before reclassifications	(26)		3		(2)		95		70
Pre-tax (gain) loss reclassified from accumulated other comprehensive income	(20)		(1)		—		—		(21)
Tax effects	5		—		—		(1)		4
Net current period other comprehensive (loss) income	(41)		2		(2)		94		53
Balances, January 31, 2026	$	(17)	$	22	$	(27)	$	(210)	$	(232)


	Pension Benefits
2027	$	5
2028	4
2029	5
2030	5
2031	5
2032-2036	25
Total	$	49