An "intangible asset" is an asset that has significant value to a company over the long term but has no physical presence. Identifiable intangible assets are those that the company can separate from other assets and the market. Examples of identifiable intangible assets include intellectual property such as patents, trademarks, copyrights, and even non-cash government grants like airport landing rights or broadcasting licenses. These assets are being straight-line-amortized at their estimated fair values that were recorded at the acquisition date across their respective expected useful lifetimes.
The gross value of intangible assets at Autodesk increased from $809.90 million in FY2021 to $962.70 million in FY2022. The company's net value of intangible assets in FY2022 was $493.8 million. Based on the company's evaluation of the fair value of identified intangible assets, developed technologies and Trade Names were valued at $846.6 million and $116.10 million, respectively. Intangible asset amortization costs for the business were $93.5 million in FY2022.
A total of $137.6 million in developed technology and $4.9 million in trade names were acquired by the company in FY2022, along with Upchain, Innovyze, and other companies. Storm UK Holdco Limited, the parent company of Innovyze, Inc., was acquired by the company for $1,038.1 million during fiscal 2022. In comparison to the prior fiscal year, net revenue increased by 16% in fiscal 2022, primarily as a result of a 19% increase in subscription revenue, which was partially offset by a 58% decline in maintenance revenue. The increase was driven by growth in all subscription kinds, with subscription renewal revenue leading the way due to the obvious expansion of the subscriber base. The expansion was also helped by an increase in EBA offerings' revenue.
Autodesk Inc (Autodesk) provides engineering, 3D designs, and entertainment software and services. The company offers a wide range of products including 3D animation, 3D CAD software, 3D modeling software, civil engineering, 3D printing, construction, 2D CAD drafting, manufacturing, sketching, painting, and product design. Autodesk serves clients in architecture, engineering, and construction; product design and manufacturing; and digital media and entertainment industries. It sells products directly to customers and through a network of resellers and distributors and its online Autodesk branded store. The company’s business operations span the Americas, Asia-Pacific, Europe, the Middle East, and Africa.
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