table
listlengths 4
29
| paragraphs
listlengths 2
29
| questions
listlengths 6
10
| answers
listlengths 6
10
|
|---|---|---|---|
[
[
"",
"2019 %",
"2018 %",
"2017 %"
],
[
"Weighted average actuarial assumptions used at 31 March1:",
"",
"",
""
],
[
"Rate of inflation2",
"2.9",
"2.9",
"3.0"
],
[
"Rate of increase in salaries",
"2.7",
"2.7",
"2.6"
],
[
"Discount rate",
"2.3",
"2.5",
"2.6"
]
] |
[
"Actuarial assumptions",
"The Group’s scheme liabilities are measured using the projected unit credit method using the principal actuarial assumptions set out below:",
"Notes: 1 Figures shown represent a weighted average assumption of the individual schemes.",
"2 The rate of increases in pensions in payment and deferred revaluation are dependent on the rate of inflation."
] |
[
"What does the Weighted average actuarial assumptions consist of?",
"How much is the 2019 rate of inflation?",
"How much is that in 2018?",
"What is the average rate of inflation?",
"2019",
"What is that rate of the increase in salaries?",
"What is the different between these two rates?"
] |
[
[
"Rate of inflation",
"Rate of increase in salaries",
"Discount rate"
],
[
"2.9"
],
[
"2.9"
],
[
"Which year are you asking about?"
],
[
"2.9"
],
[
"2.7"
],
[
"0.2"
]
] |
[
[
"",
"Rights and licenses",
"Internally generated software",
"Software under development",
"Total"
],
[
"Movements",
"$'000",
"$'000",
"$'000",
"$'000"
],
[
"At 30 June 2019",
"",
"",
"",
""
],
[
"Cost",
"13",
"12,961",
"16,284",
"29,259"
],
[
"Accumulated amortisation",
"-",
"(5,580)",
"-",
"(5,580)"
],
[
"Netbook amount",
"13",
"7,381",
"16,284",
"23,678"
],
[
"30 June 2018",
"",
"",
"",
""
],
[
"Opening net book amount at 1 July 2017",
"43",
"442",
"8,053",
"8,538"
],
[
"Additions – externally acquired",
"13",
"-",
"5,253",
"5,266"
],
[
"Additions – internally developed",
"-",
"-",
"1,256",
"1,256"
],
[
"Amortisation",
"(43)",
"(1,746)",
"-",
"(1,789)"
],
[
"Transfers",
"-",
"7,563",
"(7,563)",
"-"
],
[
"Transfer between classes",
"-",
"744",
"-",
"744"
],
[
"Disposals",
"-",
"(618)",
"(490)",
"(1,108)"
],
[
"Closing net book amount",
"13",
"6,385",
"6,509",
"12,907"
],
[
"At 30 June 2018",
"",
"",
"",
""
],
[
"Cost",
"104",
"9,555",
"6,509",
"16,168"
],
[
"Accumulated amortisation",
"(91)",
"(3,170)",
"-",
"(3,261)"
],
[
"Net book amount",
"13",
"6,385",
"6,509",
"12,907"
]
] |
[
"11 Intangible assets (continued)",
"(a) Intangible assets",
"RIGHTS AND LICENCES",
"Certain licences that NEXTDC possesses have an indefinite useful life and are carried at cost less impairment losses and are subject to impairment review at least annually and whenever there is an indication that it may be impaired.",
"Other licences that NEXTDC acquires are carried at cost less accumulated amortisation and accumulated impairment losses. Amortisation is recognised on a straight-line basis over the estimated useful life. The estimated useful life and amortisation method are reviewed at the end of each annual reporting period.",
"INTERNALLY GENERATED SOFTWARE",
"Internally developed software is capitalised at cost less accumulated amortisation. Amortisation is calculated using the straight-line basis over the asset’s useful economic life which is generally two to three years. Their useful lives and potential impairment are reviewed at the end of each financial year.",
"SOFTWARE UNDER DEVELOPMENT",
"Costs incurred in developing products or systems and costs incurred in acquiring software and licenses that will contribute to future period financial benefits through revenue generation and/or cost reduction are capitalised to software and systems. Costs capitalised include external direct costs of materials and services and employee costs.",
"Assets in the course of construction include only those costs directly attributable to the development phase and are only recognised following completion of technical feasibility and where the Group has an intention and ability to use the asset."
] |
[
"How was internally developed software capitalised?",
"What was the total cost for 2019?",
"How much was the amount for software under development in 2019?",
"The closing net book amount.",
"What was the percentage change in cost of that between 2018 and 2019?",
"Which year have greater total accumulated amortisation? ",
"What was the different between total opening and closing net book account?",
"2018"
] |
[
[
"at cost less accumulated amortisation."
],
[
"29,259"
],
[
"What kinds of amount are you asking about?"
],
[
"16,284"
],
[
"150.18"
],
[
"2019"
],
[
"Which year are you asking about?"
],
[
"4369"
]
] |
[
[
"",
"",
"2019",
"",
"2018"
],
[
"In thousands",
"$",
"%",
"$",
"%"
],
[
"Drinkable Kefir other than ProBugs",
"$ 71,822",
"77%",
"$ 78,523",
"76%"
],
[
"Cheese",
"11,459",
"12%",
"11,486",
"11%"
],
[
"Cream and other",
"4,228",
"4%",
"5,276",
"5%"
],
[
"ProBugs Kefir",
"2,780",
"3%",
"2,795",
"3%"
],
[
"Other dairy",
"1,756",
"2%",
"3,836",
"4%"
],
[
"Frozen Kefir (a)",
"1,617",
"2%",
"1,434",
"1%"
],
[
"Net Sales",
"$ 93,662",
"100%",
"$ 103,350",
"100%"
]
] |
[
"Our product categories are:",
"Drinkable Kefir, sold in a variety of organic and non-organic sizes, flavors, and types, including low fat, non-fat, whole milk, protein, and BioKefir (a 3.5 oz. kefir with additional probiotic cultures).",
"European-style soft cheeses, including farmer cheese in resealable cups.",
"Cream and other, which consists primarily of cream, a byproduct of making our kefir.",
"ProBugs, a line of kefir products designed for children.",
"Other Dairy, which includes Cupped Kefir and Icelandic Skyr, a line of strained kefir and yogurt products in resealable cups.",
"Frozen Kefir, available in soft serve and pint-size containers.",
"Lifeway has determined that it has one reportable segment based on how our chief operating decision maker manages the business and in a manner consistent with the internal reporting provided to the chief operating decision maker. The chief operating decision maker, who is responsible for allocating resources and assessing our performance, has been identified collectively as the Chief Financial Officer, the Chief Operating Officer, the Chief Executive Officer, and Chairperson of the board of directors. Substantially all of our consolidated revenues relate to the sale of cultured dairy products that we produce using the same processes and materials and are sold to consumers through a common network of distributors and retailers in the United States.",
"Net sales of products by category were as follows for the years ended December 31:",
"(a) Includes Lifeway Kefir Shop sales",
"Significant Customers – Sales are predominately to companies in the retail food industry located within the United States. Two major customers accounted for approximately 22% and 21% of net sales for the years ended December 31, 2019 and 2018, respectively. Two major customers accounted for approximately 17% of accounts receivable as of December 31, 2019 and 2018. Our ten largest customers as a group accounted for approximately 57% and 59% of net sales for the years ended December 31, 2019 and 2018, respectively."
] |
[
"How many product categories are available?",
"What is net sales from cream and other?",
"in 2018 and 2019 respectively.",
"How about Probugs Kefir?",
"How about cheese?",
"What is the change in the net sales for that category between 2018 and 2019?",
"What is the percentage change in net sales in that period?",
"Frozen Kefir."
] |
[
[
"6"
],
[
"Which year are you asking about?"
],
[
"5,276",
"4,228"
],
[
"2,795",
"2,780"
],
[
"11,486",
"11,459"
],
[
"-27"
],
[
"Which product category are you asking about?"
],
[
"12.76"
]
] |
[
[
"",
"",
"Years Ended December 31,",
""
],
[
"",
"2017",
"2018",
"2019"
],
[
"",
"%",
"%",
"%"
],
[
"Operating revenues",
"100.0",
"100.0",
"100.0"
],
[
"Operating costs",
"(81.9)",
"(84.9)",
"(85.6)"
],
[
"Gross profit",
"18.1",
"15.1",
"14.4"
],
[
"Operating expenses",
"",
"",
""
],
[
"Sales and marketing",
"(2.8)",
"(2.6)",
"(2.6)"
],
[
"General and administrative",
"(2.8)",
"(3.2)",
"(3.6)"
],
[
"Research and development",
"(9.2)",
"(8.6)",
"(8.0)"
],
[
"Expected credit losses",
"—",
"(0.3)",
"(0.4)"
],
[
"Subtotal",
"(14.8)",
"(14.7)",
"(14.6)"
],
[
"Net other operating income and expenses",
"1.1",
"3.4",
"3.5"
],
[
"Operating income",
"4.4",
"3.8",
"3.3"
],
[
"Non-operating income and expenses",
"0.7",
"(2.4)",
"(0.1)"
],
[
"Income from continuing operations before income tax",
"5.1",
"1.4",
"3.2"
],
[
"Income tax benefit (expense)",
"(0.6)",
"0.7",
"(0.1)"
],
[
"Net income",
"4.5",
"2.1",
"3.1"
],
[
"Total other comprehensive income (loss), net of tax",
"(3.2)",
"0.6",
"1.9"
],
[
"Total comprehensive income",
"1.3",
"2.7",
"5.0"
],
[
"Net income attributable to:",
"",
"",
""
],
[
"Stockholders of the parent",
"6.5",
"5.1",
"5.5"
],
[
"Non-controlling interests",
"(2.0)",
"(3.0)",
"(2.4)"
],
[
"Total comprehensive income attributable to:",
"",
"",
""
],
[
"Stockholders of the parent",
"3.3",
"5.7",
"7.4"
],
[
"Non-controlling interests",
"(2.0)",
"(3.0)",
"(2.4)"
]
] |
[
"Year Ended December 31, 2019 Compared to Year Ended December 31, 2018",
"Operating revenues. Operating revenues decreased by 2.0% from NT$151,253 million in 2018 to NT$148,202 million (US$4,955 million) in\n2019, primarily due to decreased other operating revenues, decreased foundry wafer sale, and 2.5% depreciation of the NTD in 2019 from 2018. The decreased foundry wafer sale came from a decline of 2.9% in average selling price from 2018 to 2019, partially offset by a 1.1% increase in foundry wafer shipment from 7,108 thousand 8-inch equivalent wafers in 2018 to 7,189 thousand 8-inch equivalent wafers in 2019.",
"Operating costs. Operating costs decreased by 1.2% from NT$128,413 million in 2018 to NT$126,887 million (US$4,242 million) in 2019, primarily due to the decreased depreciation expense and other operating costs, which was partially offset by the increased direct material costs.",
"Gross profit and gross margin. Gross profit decreased from NT$22,840 million in 2018 to NT$21,315 million (US$713 million) in 2019. Our gross margin decreased from 15.1% in 2018 to 14.4% in 2019, primarily due to an annual decline of 2.9% in average selling price."
] |
[
"Why did the Operating revenues decreased from 2018 to 2019? ",
"How about the Operating costs?",
"And the gross margin?",
"What is its average amount?",
"2017, 2018, and 2019.",
"How about Operating expenses?",
"How about Operating income?"
] |
[
[
"primarily due to decreased other operating revenues, decreased foundry wafer sale, and 2.5% depreciation of the NTD in 2019 from 2018."
],
[
"primarily due to the decreased depreciation expense and other operating costs, which was partially offset by the increased direct material costs."
],
[
"primarily due to an annual decline of 2.9% in average selling price."
],
[
"Which years are you asking about?"
],
[
"15.87"
],
[
"14.7"
],
[
"3.83"
]
] |
[
[
"",
"",
"Three Months Ended",
"",
"% Variation",
""
],
[
"",
"December 31, 2019",
"September 29, 2019",
"December 31, 2018",
"Sequential",
"Year-Over-Year"
],
[
"",
"",
"",
"(Unaudited, in millions)",
"",
""
],
[
"Automotive and Discrete Group (ADG)",
"$924",
"$894",
"$967",
"3.3%",
"(4.5)%"
],
[
"Analog, MEMS and Sensors Group (AMS)",
"1,085",
"968",
"988",
"12.1",
"9.9"
],
[
"Microcontrollers and Digital ICs Group (MDG)",
"742",
"688",
"689",
"7.9",
"7.6"
],
[
"Others",
"3",
"3",
"4",
"—",
"—"
],
[
"Total consolidated net revenues",
"$2,754",
"$2,553",
"$2,648",
"7.9%",
"4.0%"
]
] |
[
"On a sequential basis, ADG revenues were up 3.3%, driven by an increase in volumes of approximately 8%, partially offset by a decrease in average selling prices of approximately 5%, mostly attributable to product mix.",
"AMS revenues increased 12.1% driven by Analog and Imaging products. AMS increase was due to an increase of approximately 5% in average selling prices, entirely due to product mix, and to higher volumes of approximately of 7%.",
"MDG revenues increased by 7.9%, mainly driven by Microcontrollers, due to both higher average selling prices of approximately 6%, entirely due to product mix, and higher volumes of approximately 2%.",
"On a year-over-year basis, fourth quarter net revenues increased by 4.0%. ADG revenues decreased 4.5% compared to the year-ago quarter on lower revenues in both Automotive and Power Discrete. The decrease was entirely due to lower average selling prices of approximately 4%, while volumes remained substantially flat. The decrease in average selling prices was a combination of less favorable product mix and lower selling prices.",
"AMS fourth quarter revenues grew 9.9% year-over-year, mainly driven by Analog and Imaging. The increase was entirely due to higher average selling prices of approximately 18%, entirely attributable to product mix,\npartially offset by lower volumes of approximately 8%. MDG fourth quarter revenues increased by 7.6%, mainly driven by Microcontrollers. The increase was due to higher average selling prices of approximately 9%,\nentirely due to improved product mix."
] |
[
"What led to increase in the revenue on sequential basis?",
"ADG",
"How about that of AMS?",
"And that of MDG?",
"What is the average net revenues from ADG?",
"December 31, 2019 and 2018.",
"How about that from AMS?",
"How about MDG?"
] |
[
[
"What kind of revenue are you asking about?"
],
[
"driven by an increase in volumes of approximately 8%, partially offset by a decrease in average selling prices of approximately 5%, mostly attributable to product mix."
],
[
"driven by Analog and Imaging products. AMS increase was due to an increase of approximately 5% in average selling prices, entirely due to product mix, and to higher volumes of approximately of 7%."
],
[
"driven by Microcontrollers, due to both higher average selling prices of approximately 6%, entirely due to product mix, and higher volumes of approximately 2%."
],
[
"Which period are you asking about?"
],
[
"945.5"
],
[
"1036.5"
],
[
"715.5"
]
] |
[
[
"",
"March 31,",
""
],
[
"",
"2019",
"2018"
],
[
"Raw materials",
"$74.5",
"$26.0"
],
[
"Work in process",
"413.0",
"311.8"
],
[
"Finished goods",
"224.2",
"138.4"
],
[
"Total inventories",
"$711.7",
"$476.2"
]
] |
[
"Inventories",
"The components of inventories consist of the following (in millions):",
"Inventories are valued at the lower of cost and net realizable value using the first-in, first-out method. Inventory impairment charges establish a new cost basis for inventory and charges are not subsequently reversed to income even if circumstances later suggest that increased carrying amounts are recoverable."
] |
[
"How were inventories valued at the lower of cost and net realizable value?",
"Which years does the table provide information for the components of inventories?",
"How many years did the amount exceed $200 million?",
"Finished goods",
"What was the amount of raw materials?",
"2018",
"What was the change in that component between 2018 and 2019?",
"What was the percentage change in total inventories in that period?"
] |
[
[
"using the first-in, first-out method."
],
[
"2019",
"2018"
],
[
"Which component are you asking about?"
],
[
"1"
],
[
"Which year are you asking about?"
],
[
"26.0"
],
[
"48.5"
],
[
"49.45"
]
] |
[
[
"As at December 31,",
"Pension 2019",
"Other 2019",
"Pension 2018",
"Other 2018"
],
[
"Actuarial benefit obligation",
"",
"",
"",
""
],
[
"Discount rate",
"3.20%",
"2.95% to 3.20%",
"3.80%",
"3.80% to 4.00%"
],
[
"Benefit costs for the year ended",
"",
"",
"",
""
],
[
"Discount rate",
"3.90%",
"3.90% to 4.00%",
"3.60%",
"3.25% to 3.60%"
],
[
"Future salary growth",
"2.50%",
"N/A",
"2.50%",
"N/A"
],
[
"Health care cost trend rate",
"N/A",
"3.49% to 5.49%",
"N/A",
"4.50%"
],
[
"Other medical trend rates",
"N/A",
"4.00% to 4.56%",
"N/A",
"4.50%"
]
] |
[
"The following are the significant assumptions adopted in measuring the Company’s pension and other benefit obligations:",
"For certain Canadian post-retirement plans the above trend rates are applicable for 2019 to 2024 which will increase linearly to 4.75% in 2029 and grading down to an ultimate rate of 3.57% per annum in 2040 and thereafter."
] |
[
"How will the trend rates for Canadian post-retirement plans change between the current period to 2029 and in 2040 and after respectively?",
"What are the respective discount rates for benefit costs in 2019 and 2018 respectively?",
"Pension discount rates.",
"How about that for actuarial benefit obligation?",
"What is their total pension discount rate?",
"What is the percentage change between them?",
"What is the difference in future salary growth?",
"Under pension 2018 and 2019."
] |
[
[
"Increase linearly to 4.75%",
"grading down to an ultimate rate of 3.57% per annum in 2040 and thereafter."
],
[
"What kind of discount rates are you asking for?"
],
[
"3.90%",
"3.60%"
],
[
"3.20%",
"3.80%"
],
[
"7"
],
[
"-0.6"
],
[
"Which period are you asking about?"
],
[
"0"
]
] |
[
[
"",
"",
"2019",
"",
"2018",
""
],
[
"",
"NOTE",
"NUMBER OF SHARES",
"STATED CAPITAL",
"NUMBER OF SHARES",
"STATED CAPITAL"
],
[
"Outstanding, January 1",
"",
"898,200,415",
"20,036",
"900,996,640",
"20,091"
],
[
"Shares issued for the acquisition of AlarmForce",
"34",
"–",
"–",
"22,531",
"1"
],
[
"Shares issued under employee stock option plan",
"28",
"4,459,559",
"251",
"266,941",
"13"
],
[
"Repurchase of common shares",
"",
"–",
"–",
"(3,085,697)",
"(69)"
],
[
"Shares issued under ESP",
"",
"1,231,479",
"75",
"–",
"–"
],
[
"Shares issued under DSP",
"",
"16,729",
"1",
"–",
"–"
],
[
"Outstanding, December 31",
"",
"903,908,182",
"20,363",
"898,200,415",
"20,036"
]
] |
[
"COMMON SHARES AND CLASS B SHARES",
"BCE’s articles of amalgamation provide for an unlimited number of voting common shares and non-voting Class B shares, all without par value. The common shares and the Class B shares rank equally in the payment of dividends and in the distribution of assets if BCE is liquidated, dissolved or wound up, after payments due to the holders of preferred shares. No Class B shares were outstanding at December 31, 2019 and 2018.",
"The following table provides details about the outstanding common shares of BCE.",
"In Q1 2018, BCE repurchased and canceled 3,085,697 common shares for a total cost of $175 million through a NCIB. Of the total cost, $69 million represents stated capital and $3 million represents the reduction of the contributed surplus attributable to these common shares. The remaining $103 million was charged to the deficit.",
"CONTRIBUTED SURPLUS",
"Contributed surplus in 2019 and 2018 includes premiums in excess of par value upon the issuance of BCE common shares and share-based compensation expense net of settlements."
] |
[
"What comprised of the total cost that went into the repurchase of common shares in 2018?",
"What is the percentage of the value charged to the deficit expressed as a percentage of total cost of common shares?",
"How many common shares did BCE repurchase in 2018?",
"What is the amount of stated capital outstanding in 2019?",
"December 31",
"What was the total number of shares issued in 2019?",
"Shares issued under ESP and DSP.",
"What is the percentage change in the total number of shares in 2019?"
] |
[
[
"Stated capital",
"reduction of the contributed surplus attributable to these common shares",
"charged to the deficit"
],
[
"58.86"
],
[
"3,085,697"
],
[
"Which date are you asking for?"
],
[
"20,363"
],
[
"What kinds of shares issued are you asking for?"
],
[
"1248208"
],
[
"-0.31"
]
] |
[
[
"",
"",
"Net additions (losses)",
"",
"% of penetration(2)",
""
],
[
"",
"Years ended",
"",
"",
"",
""
],
[
"",
"August 31,",
"August 31,",
"August 31,",
"August 31,",
"August 31,"
],
[
"",
"2019",
"2019",
"2018(1)",
"2019",
"2018"
],
[
"Primary service units",
"1,810,366",
"(56,552)",
"(55,849)",
"",
""
],
[
"Internet service customers",
"788,243",
"5,966",
"14,173",
"44.7",
"44.7"
],
[
"Video service customers",
"649,583",
"(39,185)",
"(37,035)",
"36.8",
"39.3"
],
[
"Telephony service customers",
"372,540",
"(23,333)",
"(32,987)",
"21.1",
"22.6"
]
] |
[
"CUSTOMER STATISTICS",
"(1) Excludes adjustments related to the migration to the new customer management system implemented during the third quarter of fiscal 2018.",
"(2) As a percentage of homes passed.",
"During the third quarter of fiscal 2018, the Canadian broadband services segment implemented a new customer management system, replacing 22 legacy systems. While the customer management system was still in the stabilization phase, contact center congestion resulted in lower services activations during most of the fourth quarter of fiscal 2018 and the first quarter of 2019. Contact center and marketing operations had returned to normal at the end of the first quarter of 2019.",
"Variations of each services are also explained as follows:",
"INTERNET Fiscal 2019 Internet service customers net additions stood at 5,966 compared to 14,173 for the prior year mainly due to: • the ongoing interest in high speed offerings; • the sustained interest in bundle offers; and • the increased demand from Internet resellers; partly offset by • competitive offers in the industry; and • contact center congestion during the stabilization period of the new customer management system.",
"VIDEO Fiscal 2019 video service customers net losses stood at 39,185 compared to 37,035 for the prior year as a result of: • highly competitive offers in the industry; • a changing video consumption environment; and • contact center congestion during the stabilization period of the new customer management system; partly offset by • customers' ongoing interest in digital advanced video services; and • customers' interest in video services bundled with fast Internet offerings.",
"TELEPHONY Fiscal 2019 telephony service customers net losses amounted to 23,333 compared to 32,987 for the prior year mainly due to: • technical issues with telephony activations following the implementation of the new customer management system which were resolved at the end of the first quarter; • increasing wireless penetration in North America and various unlimited offers launched by wireless operators causing some customers to cancel their landline telephony services for wireless telephony services only; partly offset by • growth in the business sector; and • more telephony bundles due to additional promotional activity in the second half of fiscal 2019.",
"DISTRIBUTION OF CUSTOMERS At August 31, 2019, 69% of the Canadian broadband services segment's customers enjoyed \"double play\" or \"triple play\" bundled services."
] |
[
"How many legacy systems were replaced by implementing the new customer management system?",
"What were the net additions of the internet customers?",
"2019",
"What was the net loss for customers in 2019?",
"Video service customers.",
"What was the increase / (decrease) in the net additions of Primary service units in 2019 from 2018?",
"What was the average increase / (decrease) in the customers between 2018 and 2019?",
"Internet service customers.",
"How about that for the video service customers?"
] |
[
[
"22"
],
[
"Which year are you asking about?"
],
[
"5,966"
],
[
"What kind of customers are you asking for?"
],
[
"39,185"
],
[
"-703"
],
[
"What kind of customers are you asking for?"
],
[
"10069.5"
],
[
"-38110"
]
] |
[
[
"",
"2019 €m",
"2018 €m",
"2017 €m"
],
[
"Continuing (loss)/profit before tax as shown in the consolidated income statement",
"(2,613)",
"3,878",
"2,792"
],
[
"Aggregated expected income tax (credit)/expense",
"(457)",
"985",
"795"
],
[
"Impairment losses with no tax effect",
"807",
"–",
"–"
],
[
"Disposal of Group investments",
"–",
"55",
"(271)"
],
[
"Effect of taxation of associates and joint ventures, reported within profit before tax",
"262",
"90",
"23"
],
[
"(Recognition)/derecognition of deferred tax assets for losses in Luxembourg and Spain1",
"1,186",
"(1,583)",
"1,603"
],
[
"Deferred tax following revaluation of investments in Luxembourg1",
"(488)",
"(330)",
"(329)"
],
[
"Previously unrecognised temporary differences we expect to use in the future",
"–",
"–",
"(15)"
],
[
"Previously unrecognised temporary differences utilised in the year",
"–",
"(29)",
"(11)"
],
[
"Current year temporary differences (including losses) that we currently do not expect to use",
"78",
"20",
"139"
],
[
"Adjustments in respect of prior year tax liabilities2",
"(94)",
"(244)",
"(107)"
],
[
"Revaluation of assets for tax purposes",
"–",
"–",
"(39)"
],
[
"Impact of tax credits and irrecoverable taxes",
"79",
"93",
"98"
],
[
"Deferred tax on overseas earnings3",
"(39)",
"24",
"26"
],
[
"Effect of current year changes in statutory tax rates on deferred tax balances",
"(2)",
"(44)",
"2,755"
],
[
"Financing costs not deductible for tax purposes",
"67",
"23",
"25"
],
[
"Expenses not deductible (income not taxable) for tax purposes",
"97",
"61",
"72"
],
[
"Income tax expense/(credit)",
"1,496",
"(879)",
"4,764"
]
] |
[
"Factors affecting the tax expense for the year",
"The table below explains the differences between the expected tax expense, being the aggregate of the Group’s geographical split of profits multiplied by the relevant local tax rates and the Group’s total tax expense for each year.",
"Notes: 1 See note below regarding deferred tax asset recognition in Luxembourg and Spain on pages 140 and 141",
"2 2018 includes the impact of closing tax audits across the Group during the year, including in Germany and Romania",
"3 Includes a €42 million credit (2018: €15 million charge, 2017 €95 million charge) relating to the combination of Vodafone India with Idea Cellular"
] |
[
"Which financial years' information is shown in the table?",
"What does the table explain?",
"How much is the aggregated expected income expense?",
"2018",
"What is the 2018 deferred tax on overseas earnings, excluding the 15€m charge relating to the combination of Vodafone India with Idea Cellular?",
"How about that in 2017?",
"What is the change between 2017-2018 and 2018-2019 average income tax expense?"
] |
[
[
"2017",
"2018",
"2019"
],
[
"the differences between the expected tax expense, being the aggregate of the Group’s geographical split of profits multiplied by the relevant local tax rates and the Group’s total tax expense for each year"
],
[
"Which year are you asking about?"
],
[
"985"
],
[
"9"
],
[
"-69"
],
[
"-1634"
]
] |
[
[
"",
"",
"Year ended March 31, ",
""
],
[
"",
"2019",
"2018",
"2017"
],
[
"Expected term (in years)",
"6.1",
"6.1",
"6.1"
],
[
"Risk-free interest rate",
"2.7%",
"2.2%",
"2.1%"
],
[
"Expected volatility",
"41.5%",
"39.8%",
"41.0%"
],
[
"Expected dividend yield ",
"—%",
"—%",
"—%"
],
[
"Estimated grant date fair value per ordinary share",
"$37.15",
"$26.52",
"$20.22"
]
] |
[
"Share Options",
"The Company estimates the fair value of employee share options on the date of grant using the Black-Scholes option-pricing model, which requires the use of highly subjective estimates and assumptions. The Company estimates the expected term of share options for service-based awards utilizing the “Simplified Method,” as it does not have sufficient historical share option exercise information on which to base its estimate. The Simplified Method is based on the average of the vesting tranches and the contractual life of each grant.",
"The risk-free interest rate is based on a treasury instrument whose term is consistent with the expected life of the share option. Since there was no public market for the Company’s ordinary shares prior to the IPO and as its shares have been publicly traded for a limited time, the Company determined the expected volatility for options granted based on an analysis of reported data for a peer group of companies that issue options with substantially similar terms.",
"The expected volatility of options granted has been determined using an average of the historical volatility measures of this peer group of companies. The Company uses an expected dividend rate of zero as it currently has no history or expectation of paying dividends on its ordinary shares. The fair value of the Company’s ordinary shares at the time of each share option grant is based on the closing market value of its ordinary shares on the grant date.",
"The fair value of each share option grant was estimated using the Black-Scholes option-pricing model that used the following weighted-average assumptions:",
"The weighted-average per share fair value of share options granted to employees during the years ended March 31, 2019, 2018 and 2017 was $16.48, $11.12 and $8.65 per share, respectively."
] |
[
"Which model is used to estimate the fair value of employee share option?",
"What is the risk free rate based on?",
"What was the Expected term (in years)?",
"in 2019, 2018 and 2017 respectively.",
"What was the change in the Risk-free interest rate?",
"From 2018 to 2019.",
"What was the average Expected volatility?",
"2017-2019",
"In which year was Estimated grant date fair value per ordinary share less than 30?"
] |
[
[
"Black-Scholes option-pricing model"
],
[
"treasury instrument whose term is consistent with the expected life of the share option."
],
[
"Which year are you asking about?"
],
[
"6.1",
"6.1",
"6.1"
],
[
"Which period are you asking about?"
],
[
"0.5"
],
[
"Which years are you asking about?"
],
[
"40.77"
],
[
"2018",
"2017"
]
] |
[
[
"",
"",
"Year Ended February 28,",
""
],
[
"",
"2019",
"2018",
"2017"
],
[
"Net income (loss)",
"$18,398",
"$16,617",
"$(7,904)"
],
[
"Basic weighted average number of common shares outstanding",
"34,589",
"35,250",
"35,917"
],
[
"Effect of stock options and restricted stock units computed on",
"",
"",
""
],
[
"treasury stock method",
"705",
"889",
"-"
],
[
"Diluted weighted average number of common shares outstanding",
"35,294",
"36,139",
"35,917"
],
[
"Earnings (loss) per share:",
"",
"",
""
],
[
"Basic",
"$0.53",
"$0.47",
"$(0.22)"
],
[
"Diluted",
"$0.52",
"$0.46",
"$(0.22)"
]
] |
[
"NOTE 14 – EARNINGS (LOSS) PER SHARE",
"Basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net income by the weighted average number of common shares outstanding during the period plus the dilutive effect of outstanding stock options and restricted stock-based awards using the treasury stock method. The following table sets forth the computation of basic and diluted earnings (loss) per share (in thousands, except per share amounts):",
"All outstanding stock options and restricted stock-based awards in the amount of 1.0 million and 1.2 million, respectively, were excluded from the computation of diluted earnings per share for the fiscal year ended February 28, 2017 because the effect of inclusion would be antidilutive. Shares subject to anti-dilutive stock options and restricted stock-based awards of 1.9 million and 0.2 million for the fiscal years ended February 28, 2019 and 2018, respectively, were excluded from the calculations of diluted earnings per share for the years then ended.",
"We have the option to pay cash, issue shares of common stock or any combination thereof for the aggregate amount due upon conversion of the Notes. It is our intent to settle the principal amount of the convertible senior notes with cash, and therefore, we use the treasury stock method for calculating any potential dilutive effect of the conversion option on diluted net income (loss) per share. From the time of the issuance of the Notes, the average market price of our common stock has been less than the initial conversion price of the Notes, and consequently no shares have been included in diluted earnings per share for the conversion value of the Notes."
] |
[
"How was earnings (loss) per share computed?",
"Basic",
"What is the change in that between 2018 and 2019?",
"What was the percentage change in the average number of common shares outstanding between 2018 and 2019?",
"Basic weighted average number.",
"What was the net income(loss) in 2019?",
"How about that in 2018?",
"What was the percentage change between them?"
] |
[
[
"What kind of earnings (loss) per share are you asking about?"
],
[
"dividing net income (loss) by the weighted average number of common shares outstanding during the period"
],
[
"0.06"
],
[
"What kind of average number are you asking for?"
],
[
"-1.88"
],
[
"$18,398"
],
[
"$16,617"
],
[
"10.72"
]
] |
[
[
"",
"December 31,",
""
],
[
"(In millions)",
"2019",
"2018"
],
[
"Used lines of credit (1)",
"$ 98.9",
"$ 232.8"
],
[
"Unused lines of credit",
"1,245.2",
"1,135.3"
],
[
"Total available lines of credit(2)",
"$ 1,344.1",
"$ 1,368.1"
]
] |
[
"Lines of Credit",
"The following table summarizes our available lines of credit and committed and uncommitted lines of credit, including the revolving credit facility discussed above, and the amounts available under our accounts receivable securitization programs.",
"(1) Includes total borrowings under the accounts receivable securitization programs, the revolving credit facility and borrowings under lines of credit available to several subsidiaries.",
"(2) Of the total available lines of credit, $1,137.4 million were committed as of December 31, 2019."
] |
[
"What does the table show?",
"How much was commited as of December 31, 2019 of total available lines of credit?",
"How much money has not been committed as of that?",
"What is the percentage of used lines of credit to that?",
"What is the difference between the credit for 2019 and 2018?",
"Unused lines of credit.",
"What years are included in the table?"
] |
[
[
"summarizes our available lines of credit and committed and uncommitted lines of credit, including the revolving credit facility discussed above, and the amounts available under our accounts receivable securitization programs."
],
[
"$1,137.4 million"
],
[
"206.7"
],
[
"7.36"
],
[
"What kind of credits are you asking for? "
],
[
"109.9"
],
[
"2019",
"2018"
]
] |
[
[
"€ million",
"2017/2018",
"2018/2019"
],
[
"Sales",
"2,680",
"2,901"
],
[
"Expenses",
"−2,563",
"−2,736"
],
[
"Current earnings from discontinued operations before taxes",
"117",
"165"
],
[
"Income taxes on gains/losses on the current result",
"−29",
"−43"
],
[
"Current earnings from discontinued operations after taxes",
"88",
"122"
],
[
"Gains/losses from the remeasurement or disposal of discontinued operations before taxes",
"0",
"0"
],
[
"Gains/losses from the remeasurement or disposal of discontinued operations after taxes",
"0",
"0"
],
[
"Profit or loss for the period from discontinued operations after taxes",
"88",
"122"
]
] |
[
"Profit or loss for the period after taxes",
"The current result of METRO China was reclassified in the consolidated income statement under the item ‘profit or loss for the period from discontinued operations after taxes’, taking into account necessary consolidation measures. To increase the economic meaningfulness of the earnings statement of the continuing sector, its shares in the consolidation effects were also included in the discontinued section of the earnings statement as far as they were related to business relations that are to be upheld in the long term even after the planned disposal. The previous year’s figures of the income statement were adjusted accordingly.",
"Profit or loss for the period from discontinued operations after taxes is attributable to the shareholders of METRO AG in the amount of €118 million (2017/18: €87 million). Noncontrolling interests account for €5 million of earnings (2017/18: €1 million).",
"In connection with the divestment process, expenses in the low 2-digit million euros range have been incurred to date.",
"As a result, profit or loss for the period from discontinued operations after taxes is made up as follows for METRO China:"
] |
[
"What was done to increase the economic meaningfulness of the earnings statement of the continuing sector?",
"How much of earnings does the Noncontrolling interests account for in FY2019?",
"What was the change in FY2019 from FY2018?",
"The change in Sales.",
"What was the percentage change for that?",
"What were the components factored in during the calculation of Current earnings from discontinued operations before taxes?",
"In which year was Current earnings from discontinued operations larger?",
"Current earnings from discontinued operations after taxes."
] |
[
[
"its shares in the consolidation effects were also included in the discontinued section of the earnings statement as far as they were related to business relations that are to be upheld in the long term even after the planned disposal."
],
[
"€5 million"
],
[
"What kind of change are you asking for?"
],
[
"221"
],
[
"8.25"
],
[
"Sales",
"Expenses"
],
[
"What kind of Current earnings from discontinued operations are you asking about?"
],
[
"2019"
]
] |
[
[
"($ in millions)",
"",
"",
"",
""
],
[
"For the year ended December 31:",
"2019",
"2018",
"Yr.-to-Yr. Percent Change **",
"Yr.-to-Yr. Percent Change Adjusted for Currency **"
],
[
"Cloud & Cognitive Software external revenue",
"$23,200",
"$22,209",
"4.5%",
"6.2%"
],
[
"Cognitive Applications",
"$ 5,765",
"$ 5,633",
"2.3%",
"3.9%"
],
[
"Cloud & Data Platforms",
"9,499",
"8,603",
"10.4",
"12.3"
],
[
"Transaction Processing Platforms",
"7,936",
"7,974",
"(0.5)",
"1.4"
]
] |
[
"Cloud & Cognitive Software",
"* Recast to reflect segment changes.",
"** 2019 results were impacted by Red Hat purchase accounting.",
"Cloud & Cognitive Software revenue of $23,200 million increased 4.5 percent as reported (6 percent adjusted for currency) in 2019 compared to the prior year. There was strong growth in Cloud & Data Platforms, as reported and at constant currency, driven primarily by the acquisition of Red Hat in the third quarter of 2019. Red Hat had continued strong performance since the acquisition, in Red Hat Enterprise Linux (RHEL), application development and emerging technologies, led by OpenShift and Ansible. Red Hat and IBM are driving synergies with strong adoption of Cloud Paks since their introduction, expansion of our combined client base and more than 2,000 clients using our hybrid cloud platform. Cognitive Applications also grew as reported and at constant currency. Transaction Processing Platforms declined year to year as reported, but grew 1 percent adjusted for currency driven by strong fourth-quarter performance.",
"Cognitive Applications revenue of $5,765 million grew 2.3 percent as reported (4 percent adjusted for currency) compared to the prior year, driven by double-digit growth as reported and adjusted for currency in Security, and growth in industry verticals such as IoT. The Security performance included continued strong results in threat management software and services offerings. Within IoT, we had good revenue performance across the portfolio as we continued to invest in new offerings and industry-specific solutions.",
"Cloud & Data Platforms revenue of $9,499 million increased 10.4 percent as reported (12 percent adjusted for currency) compared to the prior year. Performance was driven by the addition of RHEL and OpenShift and the continued execution of the combined Red Hat and IBM hybrid strategy.",
"Transaction Processing Platforms revenue of $7,936 million decreased 0.5 percent as reported, but grew 1 percent adjusted for currency in 2019, compared to the prior year. Revenue performance reflects the ongoing investment in IBM platforms, and the timing of larger transactions that are tied to client business volumes and buying cycles.",
"Within Cloud & Cognitive Software, cloud revenue of $4.2 billion grew 40 percent as reported and 42 percent adjusted for currency year to year, reflecting the acquisition of Red Hat and client adoption of our hybrid cloud offerings."
] |
[
"What caused the increase in revenue in 2019?",
"Cloud & Cognitive Software revenue.",
"How about that for Cognitive Applications revenue?",
"How about Cloud & Data Platforms revenue?",
"What is the average of that revenue in 2019 and 2018?",
"How about that for Cloud & Cognitive Software external revenue?",
"What percentage of Cloud & Cognitive Software external revenue was Transaction Processing Platforms?",
"2019"
] |
[
[
"What kind of revenue are you asking about?"
],
[
"There was strong growth in Cloud & Data Platforms, as reported and at constant currency, driven primarily by the acquisition of Red Hat in the third quarter of 2019. Red Hat had continued strong performance since the acquisition, in Red Hat Enterprise Linux (RHEL), application development and emerging technologies, led by OpenShift and Ansible."
],
[
"driven by double-digit growth as reported and adjusted for currency in Security, and growth in industry verticals such as IoT."
],
[
"Performance was driven by the addition of RHEL and OpenShift and the continued execution of the combined Red Hat and IBM hybrid strategy."
],
[
"9051"
],
[
"22704.5"
],
[
"Which year are you asking about?"
],
[
"34.21"
]
] |
[
[
"",
"",
"",
"Year ended December 31, 2018",
"",
""
],
[
"",
"Software Solutions",
"Data and Analytics",
"Corporate and Other",
"",
"Total"
],
[
"Revenues",
"$962.0",
"$154.5",
"$(2.5)",
"(1)",
"$1,114.0"
],
[
"Expenses:",
"",
"",
"",
"",
""
],
[
"Operating expenses",
"394.8",
"115.0",
"115.6",
"(2)",
"625.4"
],
[
"Transition and integration costs",
"—",
"—",
"6.6",
"(5)",
"6.6"
],
[
"EBITDA",
"567.2",
"39.5",
"(124.7)",
"",
"482.0"
],
[
"Depreciation and amortization",
"112.9",
"14.1",
"90.0",
"(4)",
"217.0"
],
[
"Operating income (loss)",
"454.3",
"25.4",
"(214.7)",
"",
"265.0"
],
[
"Interest expense, net",
"",
"",
"",
"",
"(51.7)"
],
[
"Other expense, net",
"",
"",
"",
"",
"(7.1)"
],
[
"Earnings before income taxes",
"",
"",
"",
"",
"206.2"
],
[
"Income tax expense",
"",
"",
"",
"",
"37.7"
],
[
"Net earnings",
"",
"",
"",
"",
"$168.5"
],
[
"Balance sheet data:",
"",
"",
"",
"",
""
],
[
"Total assets",
"$3,227.8",
"$310.2",
"$115.4",
"(6)",
"$3,653.4"
],
[
"Goodwill",
"$2,157.6",
"$172.1",
"$—",
"",
"$2,329.7"
]
] |
[
"Summarized financial information concerning our segments is shown in the tables below (in millions):",
"(1) Revenues for Corporate and Other represent deferred revenue purchase accounting adjustments recorded in accordance with GAAP.",
"(2) Operating expenses for Corporate and Other includes equity-based compensation, including certain related payroll taxes, of $51.7 million, $51.4 million and $19.2 million for the years ended December 31, 2019, 2018 and 2017, respectively.",
"(4) Depreciation and amortization for Corporate and Other primarily represents net incremental depreciation and amortization adjustments associated with the application of purchase accounting recorded in accordance with GAAP.",
"(5) Transition and integration costs primarily consists of costs associated with executive transition, transition-related costs as we transferred certain corporate functions from FNF and acquisitions.",
"(6) Receivables from related parties are included in Corporate and Other."
] |
[
"What did revenues for Corporate and Other represent?",
"What was the difference between Software Solutions and Corporate and Other?",
"The difference in Depreciation and amortization.",
"What were the expenses for Software Solutions?",
"Operating expenses.",
"What was the difference between Software Solutions and Data and Analytics?",
"The difference in the EBITDA.",
"What were the total Transition and integration costs?",
"What was the difference between Total Assets and Total Goodwill?"
] |
[
[
"deferred revenue purchase accounting adjustments recorded in accordance with GAAP."
],
[
"What kinds of different are you asking about?"
],
[
"22.9"
],
[
"What kind of expenses are you asking about?"
],
[
"394.8"
],
[
"What kinds of difference are you asking about?"
],
[
"527.7"
],
[
"6.6"
],
[
"1323.7"
]
] |
[
[
"Year Ended December 31,",
"",
""
],
[
"",
"2019",
"2018"
],
[
"Asia Pacific",
"",
""
],
[
"Travel",
"$6,274",
"$7,351"
],
[
"Local",
"216",
"508"
],
[
"Total Asia Pacific revenues",
"6,490",
"7,859"
],
[
"Europe",
"",
""
],
[
"Travel",
"32,081",
"30,856"
],
[
"Local",
"4,817",
"5,293"
],
[
"Total Europe revenues",
"36,898",
"36,149"
],
[
"North America",
"",
""
],
[
"Travel",
"57,863",
"56,145"
],
[
"Local",
"10,161",
"11,169"
],
[
"Total North America revenues",
"68,024",
"67,314"
],
[
"Consolidated",
"",
""
],
[
"Travel",
"96,218",
"94,352"
],
[
"Local",
"15,194",
"16,970"
],
[
"Total revenues",
"$111,412",
"111,322"
]
] |
[
"The following table sets forth the breakdown of revenues by category and segment. Travel revenue includes travel publications (Top 20, Website, Newsflash, Travelzoo Network), Getaway vouchers and hotel platform. Local revenue includes Local Deals vouchers and entertainment offers (vouchers and direct bookings) (in thousands).",
"Revenue by geography is based on the billing address of the advertiser. Long-lived assets attributed to the U.S. and international geographies are based upon the country in which the asset is located or owned."
] |
[
"What is revenue by geography based on?",
"What is the total Asia Pacific revenues in 2019 and 2018 respectively?",
"What is the average of them?",
"What is the total Europe revenues in 2019 and 2018 respectively?",
"What is the change in total revenues between 2018 and 2019?",
"In 2019, how many geographic regions have more than $20,000 thousand revenues?",
"Total revenues."
] |
[
[
"billing address of the advertiser"
],
[
"6,490",
"7,859"
],
[
"7174.5"
],
[
"36,898",
"36,149"
],
[
"90"
],
[
"What kinds of revenues are you asking about?"
],
[
"2"
]
] |
[
[
"",
"",
"(dollars in millions)"
],
[
"At December 31,",
"2019",
"2018"
],
[
"Deferred Tax Assets",
"",
""
],
[
"Employee benefits",
"$ 5,048",
"$ 5,403"
],
[
"Tax loss and credit carry forwards",
"3,012",
"3,576"
],
[
"Other – assets",
"5,595",
"1,650"
],
[
"",
"13,655",
"10,629"
],
[
"Valuation allowances",
"(2,260)",
"(2,741)"
],
[
"Deferred tax assets",
"11,395",
"7,888"
],
[
"Deferred Tax Liabilities",
"",
""
],
[
"Spectrum and other intangible amortization",
"22,388",
"21,976"
],
[
"Depreciation",
"16,884",
"15,662"
],
[
"Other—liabilities",
"6,742",
"3,976"
],
[
"Deferred tax liabilities",
"46,014",
"41,614"
],
[
"Net deferred tax liability",
"$ 34,619",
"$ 33,726"
]
] |
[
"Deferred taxes arise because of differences in the book and tax bases of certain assets and liabilities. Significant components of deferred tax assets and liabilities are as follows:",
"At December 31, 2019, undistributed earnings of our foreign subsidiaries indefinitely invested outside the U.S. amounted to approximately $3.8 billion. The majority of Verizon’s cash flow is generated from domestic operations and we are not dependent on foreign cash or earnings to meet our funding requirements, nor do we intend to repatriate these undistributed foreign earnings to fund U.S. operations.",
"Furthermore, a portion of these undistributed earnings represents amounts that legally must be kept in reserve in accordance with certain foreign jurisdictional requirements and are unavailable for distribution or repatriation. As a result, we have not provided U.S. deferred taxes on these undistributed earnings because we intend that they will remain indefinitely reinvested outside of the U.S. and therefore unavailable for use in funding U.S. operations. Determination of the amount of unrecognized deferred taxes related to these undistributed earnings is not practicable.",
"At December 31, 2019, we had net after-tax loss and credit carry forwards for income tax purposes of approximately $3.0 billion that primarily relate to state and foreign taxes. Of these net after-tax loss and credit carry forwards, approximately $2.0 billion will expire between 2020 and 2039 and approximately $1.0 billion may be carried forward indefinitely.",
"During 2019, the valuation allowance decreased approximately $481 million. The balance of the valuation allowance at December 31, 2019 and the 2019 activity is primarily related to state and foreign taxes."
] |
[
"What was the undistributed earnings of foreign subsidiary invested outside the US amounted to in 2019?",
"What was the net after tax loss and credit carry forward for income tax in 2019?",
"What was the valuation allowance decrease in 2019?",
"What was the change from 2018 to 2019?",
"The change in the employee benefit.",
"What was the average tax loss and credit carry forward in that period?",
"How about that for other assets?"
] |
[
[
"$3.8 billion"
],
[
"$3.0 billion"
],
[
"$481 million"
],
[
"What kind of change are you asking for?"
],
[
"-355"
],
[
"3294"
],
[
"3622.5"
]
] |
[
[
"",
"2019",
"2018"
],
[
"Weighted average fair value per option granted",
"$2.34",
"$2.13"
],
[
"Weighted average share price",
"$58",
"$57"
],
[
"Weighted average exercise price",
"$58",
"$56"
],
[
"Expected dividend growth",
"5%",
"5%"
],
[
"Expected volatility",
"14%",
"12%"
],
[
"Risk-free interest rate",
"2%",
"2%"
],
[
"Expected life (years)",
"4",
"4"
]
] |
[
"ASSUMPTIONS USED IN STOCK OPTION PRICING MODEL",
"The fair value of options granted was determined using a variation of a binomial option pricing model that takes into account factors specific to the share incentive plans, such as the vesting period. The following table shows the principal assumptions used in the valuation.",
"Expected dividend growth is commensurate with BCE’s dividend growth strategy. Expected volatility is based on the historical volatility of BCE’s share price. The risk-free rate used is equal to the yield available on Government of Canada bonds at the date of grant with a term equal to the expected life of the options"
] |
[
"How is the fair value of options granted determined?",
"What is expected volatility based on?",
"What is the change in its amount in 2019?",
"What is the average expected life over 2018 and 2019?",
"Which assumption variables in the table are further elaborated in the text?",
"In which year is the weighted average price higher?",
"Weight average share price."
] |
[
[
"using a variation of a binomial option pricing model that takes into account factors specific to the share incentive plans, such as the vesting period"
],
[
"the historical volatility of BCE’s share price"
],
[
"2"
],
[
"4"
],
[
"Expected dividend growth",
"Expected volatility",
"Risk-free interest rate"
],
[
"What kind of price are you asking about?"
],
[
"2019"
]
] |
[
[
"(in thousands of U.S. Dollars)",
"Year Ended December 31,",
""
],
[
"",
"2019",
"2018"
],
[
"Net operating cash flows",
"383,306",
"182,135"
],
[
"Net financing cash flows",
"(382,229)",
"434,786"
],
[
"Net investing cash flows",
"(50,391)",
"(663,456)"
]
] |
[
"The following table summarizes our consolidated cash and cash equivalents provided by (used for) operating, financing and investing activities for the periods presented:",
"Operating Cash Flows",
"Our consolidated net cash flow from operating activities fluctuates primarily as a result of changes in vessel utilization and TCE rates, changes in interest rates, fluctuations in working capital balances, the timing and amount of dry-docking expenditures, repairs and maintenance activities, vessel additions and dispositions, and foreign currency rates. Our exposure to the spot tanker market has contributed significantly to fluctuations in operating cash flows historically as a result of highly cyclical spot tanker rates.",
"In addition, the production performance of certain of our FPSO units that operate under contracts with a production-based compensation component has contributed to fluctuations in operating cash flows. As the charter contracts of some of our FPSO units include incentives based on average annual oil prices, the changes in global oil prices during recent years have also impacted our operating cash flows.",
"Consolidated net cash flow from operating activities increased to $383.3 million for the year ended December 31, 2019, from $182.1 million for the year ended December 31, 2018. This increase was primarily due to a $127.2 million increase in income from operations mainly from operations (before depreciation, amortization, asset impairments, loss on sale of vessels and the amortization of in-process revenue contracts) of our businesses.",
"For further discussion of changes in income from vessel operations from our businesses, please read “Item 5 – Operating and Financial Review and Prospects: Management’s Discussion and Analysis of Financial Condition and Results of Operations – Recent Developments and Results of Operations.”",
"In addition, there was a $9.9 million increase in cash flows from changes to non-cash working capital, a $23.6 million increase in dividends received from joint ventures, and a $17.1 million increase in direct financing lease payments received, which are presented as an operating cash inflow instead of an investing cash inflow after the adoption of ASU 2016-02 in 2019.",
"Furthermore, interest expense, including realized losses on interest rate swaps and cross currency swaps, decreased a net amount of $38.1 million for the year ended December 31, 2019 compared to 2018, primarily due to a decrease in realized losses on cross currency swaps. These increases were partially offset by an increase in cash outflows of $15.9 million in dry-dock expenditures for the year ended December 31, 2019, compared to 2018.",
"Financing Cash Flows",
"The Daughter Entities hold all of our liquefied gas carriers (Teekay LNG) and all of our conventional tanker assets (Teekay Tankers). Teekay LNG received $317.8 million of net proceeds from the sale-leaseback financing transactions for the Yamal Spirit and Torben Spirit for the year ended December 31, 2019, compared to $370.1 million from the sale-leaseback financing transactions completed for the Magdala, Myrina and Megara for the same period in 2018.",
"Teekay Tankers received $63.7 million from the sale-leaseback financing transactions completed on two of its Suezmax tankers for the year ended December 31, 2019, compared to $241.3 million in the same period last year from the sale-leaseback financing transactions completed on eight Aframax tankers, one Suezmax tanker and one LR2 Product tanker.",
"We use our credit facilities to partially finance capital expenditures. Occasionally, we will use revolving credit facilities to finance these expenditures until longer-term financing is obtained, at which time we typically use all or a portion of the proceeds from the longer-term financings to prepay outstanding amounts under the revolving credit facilities. We actively manage the maturity profile of our outstanding financing arrangements.",
"During 2019, we had a net cash outflow of $227.3 million relating primarily to prepayments of short-term and long-term debt, issuance costs and payments on maturity of cross currency swaps, net of proceeds from the issuances of short-term and long-term debt, compared to net cash inflow of $553.7 million in 2018. Scheduled repayments decreased by $438.1 million in 2019 compared to 2018.",
"Historically, the Daughter Entities have distributed operating cash flows to their owners in the form of distributions or dividends. There were no equity financing transactions from the Daughter Entities for the years ended December 31, 2019 and 2018. Teekay LNG repurchased $25.7 million of common units in the year ended December 31, 2019.",
"Teekay Parent did not raise capital through equity financing transactions in December 31, 2019, compared to $103.7 million raised in 2018 from issuances of new equity to the public, thirdparty investors and two entities established by our founder (including Resolute, our largest shareholder). Cash dividends paid decreased by $16.6 million in 2019, as a result of the elimination of Teekay Parent's quarterly dividend on Teekay’s common stock commencing with the quarter ended March 31, 2019.",
"Investing Cash Flows",
"During 2019, we received $100 million from Brookfield for the sale of our remaining interests in Altera (please read \"Item 18 – Financial Statements: Note 4 – Deconsolidation and Sale of Altera\"). We incurred capital expenditures for vessels and equipment of $109.5 million primarily for capitalized vessel modifications and shipyard construction installment payments in Teekay LNG.",
"Teekay LNG received proceeds of $11.5 million from the sale of the Alexander Spirit and contributed $72.4 million to its equity-accounted joint ventures and loans to joint ventures for the year ended December 31, 2019, primarily to fund project expenditures in the Yamal LNG Joint Venture and the Bahrain LNG Joint Venture. During 2019, Teekay Tankers received proceeds of $19.6 million related to the sale of one Suezmax tanker.",
"During 2018, we incurred capital expenditures for vessels and equipment of $0.7 billion, primarily for capitalized vessel modifications and shipyard construction installment payments. Teekay Parent advanced $25.0 million to Altera in the form of a senior unsecured revolving credit facility.",
"Teekay LNG received proceeds of $54.4 million from the sale of Teekay LNG's 50% ownership interest in the Excelsior Joint Venture and $28.5 million from the sales of the European Spirit and African Spirit. Teekay LNG contributed $40.5 million to its equityaccounted joint ventures and loans to joint ventures for the year ended December 31, 2018, primarily to fund project expenditures in the Yamal LNG Joint Venture, the Bahrain LNG project, and the Pan Union Joint Venture, and for working capital requirements for the MALT Joint Venture.",
"Teekay incurred a net $25.3 million cash outflow as a result of the 2017 Brookfield Transaction (please read \"Item 18 – Financial Statements: Note 4 – Deconsolidation and Sale of Altera\")."
] |
[
"What led to increase in Consolidated net cash flow from operating activities for the year ended December 31, 2019?",
"How much was received from Brookfield for the sale of interests in Altera during 2019?",
"How much was Consolidated net cash flow from operating activities for the year ended December 31, 2019 and 2018?",
"What is the increase/ (decrease) in Net cash flows in that period?",
"Net operating cash flows.",
"How about that for Net financing cash flows?",
"How about that for Net investing cash flows?"
] |
[
[
"This increase was primarily due to a $127.2 million increase in income from operations mainly from operations (before depreciation, amortization, asset impairments, loss on sale of vessels and the amortization of in-process revenue contracts) of our businesses."
],
[
"During 2019, we received $100 million from Brookfield for the sale of our remaining interests in Altera"
],
[
"Consolidated net cash flow from operating activities increased to $383.3 million for the year ended December 31, 2019, from $182.1 million for the year ended December 31, 2018."
],
[
"What kind net cash flows are you asking about?"
],
[
"201171"
],
[
"-52557"
],
[
"-613065"
]
] |
[
[
"",
"2019",
"",
"2018",
""
],
[
"(In thousands, except percentages)",
"Dollars",
"% of Revenue",
"Dollars",
"% of Revenue"
],
[
"Revenue",
"$3,090,325",
"100.0%",
"$2,973,536",
"100.0%"
],
[
"Cost of goods sold",
"1,895,142",
"61.3",
"1,826,570",
"61.4"
],
[
"Gross profit",
"1,195,183",
"38.7",
"1,146,966",
"38.6"
],
[
"Research and development",
"450,482",
"14.6",
"445,103",
"15.0"
],
[
"Selling, general, and administrative",
"476,074",
"15.4",
"527,751",
"17.7"
],
[
"Other operating expense",
"52,161",
"1.7",
"103,830",
"3.5"
],
[
"Operatingincome",
"$216,466",
"7.0%",
"$70,282",
"2.4%"
]
] |
[
"Consolidated",
"The table below presents a summary of our results of operations for fiscal years 2019 and 2018. See Part II, Item 7 of our Annual Report on Form 10-K for the fiscal year ended March 31, 2018, filed with the SEC on May 21, 2018, for Management’s Discussions and Analysis of Financial Condition and Results of Operations for the fiscal year ended April 1, 2017.",
"REVENUE",
"Our overall revenue increased $116.8 million in fiscal 2019, compared to fiscal 2018, primarily due to higher demand for our mobile products in support of customers based in China as well as higher demand for our base station products, partially offset by a decrease in revenue due to weakness in marquee smartphone demand experienced by our largest end customer.",
"We provided our products to our largest end customer (Apple) through sales to multiple contract manufacturers, which in the aggregate accounted for 32% and 36% of total revenue in fiscal years 2019 and 2018, respectively. Huawei accounted for approximately 13% and 8% of our total revenue in fiscal years 2019 and 2018, respectively. These customers primarily purchase RF and Wi-Fi solutions for cellular base stations and a variety of mobile devices, including smartphones, wearables, laptops, tablets and cellular-based applications for the IoT. In May 2019, the U.S. government imposed restrictions on the sales of products to Huawei (see Note 2 of the Notes to the Consolidated Financial Statements set forth in Part II, Item 8 of this report).",
"International shipments amounted to $2,610.0 million in fiscal 2019 (approximately 84% of revenue) compared to $2,449.1 million in fiscal 2018 (approximately 82% of revenue). Shipments to Asia totaled $2,446.3 million in fiscal 2019 (approximately 79% of revenue) compared to $2,329.3 million in fiscal 2018 (approximately 78% of revenue).",
"GROSS MARGIN",
"Gross margin was relatively flat for fiscal 2019 as compared to fiscal 2018, with average selling price erosion offset by favorable changes in product mix.",
"OPERATING EXPENSES",
"Research and Development",
"In fiscal 2019, R&D spending increased $5.4 million, compared to fiscal 2018, primarily due to higher personnel related costs, partially offset by lower product development spend driven by R&D efficiency initiatives.",
"Selling, General and Administrative",
"In fiscal 2019, selling, general and administrative expense decreased $51.7 million, or 9.8%, compared to fiscal 2018, primarily due to lower intangible amortization, partially offset by higher personnel related costs.",
"Other Operating Expense",
"In fiscal 2019, other operating expense was $52.2 million. In fiscal 2019, we recognized $15.9 million of asset impairment charges (to adjust the carrying value of certain property and equipment to reflect fair value) and $11.6 million of employee termination benefits as a result of restructuring actions (see Note 11 of the Notes to the Consolidated Financial Statements set forth in Part II, Item 8 of this report for information on restructuring actions). In fiscal 2019, we also recorded $18.0 million of start-up costs related to new processes and operations in existing facilities.",
"In fiscal 2018, other operating expense was $103.8 million. In fiscal 2018, we initiated restructuring actions to improve operating efficiencies, and, as a result of these actions, we recorded approximately $18.3 million of employee termination benefits and adjusted the carrying value of certain held for sale assets located in China and the U.S. to fair market value (resulting in impairment charges totaling approximately $46.3 million). In fiscal 2018, we also recorded integration costs and restructuring costs of $6.2 million and $2.6 million, respectively, associated with the Business Combination, as well as $24.3 million of start-up costs related to new processes and operations in both existing and new facilities.",
"OPERATING INCOME",
"Our overall operating income was $216.5 million for fiscal 2019, compared to $70.3 million for fiscal 2018. This increase was primarily due to lower intangible amortization, higher revenue, and lower impairment charges on property and equipment."
] |
[
"What are the company's respective revenue in 2018 and 2019?",
"What is the average of them?",
"What are the company's respective cost of goods sold in these years?",
"What is the average of them?",
"What are the company's respective gross profit in these years?",
"What is the average of them?"
] |
[
[
"$2,973,536",
"$3,090,325"
],
[
"3031930.5"
],
[
"1,826,570",
"1,895,142"
],
[
"1860856"
],
[
"1,146,966",
"1,195,183"
],
[
"1171074.5"
]
] |
[
[
"",
"Pension",
"",
"Other",
""
],
[
"As at December 31, 2018",
"1% increase",
"1% decrease",
"1% increase",
"1% decrease"
],
[
"Discount rate",
"$(39,145)",
"$49,361",
"$(2,471)",
"$3,224"
],
[
"Future salary growth",
"$7,572",
"$(6,919)",
"N/A",
"N/A"
],
[
"Medical and dental trend rates",
"N/A",
"N/A",
"$1,703",
"$(1,280)"
]
] |
[
"30. EMPLOYEE BENEFIT PLANS (cont.)",
"The above sensitivities are hypothetical and should be used with caution. Changes in amounts based on a one percent variation in assumptions generally cannot be extrapolated because the relationship of the change in assumption to the change in amounts may not be linear. The sensitivities have been calculated independently of changes in other key variables. Changes in one factor may result in changes in another, which could amplify or reduce certain sensitivities.",
"The Company expects to make contributions of $5.1 million to the defined benefit plans and $0.6 million to the defined contribution plan of Telesat Canada during the next fiscal year."
] |
[
"How much does the company expect to make contributions to the defined plans during the next fiscal year?",
"The defined benefit plans and the defined contribution plan respectively.",
"What is the value of the expected defined contribution plan as a percentage of the defined benefit plan during the next fiscal year?",
"How much would change if there is a 1% increase and a 1% decrease respectively in the discount rate?",
"The pension.",
"What is the difference in that amount if the discount rate had a 1% increase and a 1% decrease?",
"How much would the pension change if there is a 1% increase and a 1% decrease respectively?",
"The future salary growth.",
"What is the difference between them?"
] |
[
[
"What kind of defined plans are you asking about?"
],
[
"$5.1 million",
"$0.6 million"
],
[
"11.76"
],
[
"What kind of change are you asking about?"
],
[
"$(39,145)",
"$49,361"
],
[
"88506"
],
[
"Which rate of increase and decrease are you talking about?"
],
[
"$7,572",
"$(6,919)"
],
[
"14491"
]
] |
[
[
"(In millions)",
"March 29, 2019",
"March 30, 2018"
],
[
"Net investment hedges",
"",
""
],
[
"Foreign exchange forward contracts sold",
"$116",
"$—"
],
[
"Balance sheet contracts",
"",
""
],
[
"Foreign exchange forward contracts purchased",
"$963",
"$697"
],
[
"Foreign exchange forward contracts sold",
"$122",
"$151"
]
] |
[
"The fair value of our foreign exchange forward contracts is presented on a gross basis in our Condensed Consolidated Balance Sheets. To mitigate losses in the event of nonperformance by counterparties, we have entered into master netting arrangements with our counterparties that allow us to settle payments on a net basis. The effect of netting on our derivative assets and liabilities was not material as of March 29, 2019 and March 30, 2018.",
"The notional amount of our outstanding foreign exchange forward contracts in U.S. dollar equivalent was as follows:"
] |
[
"What does the table show?",
"How is the fair value of foreign exchange forward contracts presented?",
"What is the Foreign exchange forward contracts sold?",
"March 29, 2019",
"What is the total amount of that for March 29, 2019 and March 30, 2018?",
"How about the total Foreign exchange forward contracts purchased in that period?",
"What is the change of its amount in that period?"
] |
[
[
"notional amount of our outstanding foreign exchange forward contracts in U.S. dollar equivalent was as follows"
],
[
"on a gross basis in our Condensed Consolidated Balance Sheets"
],
[
"As of which date are you asking about?"
],
[
"$116"
],
[
"273"
],
[
"1660"
],
[
"266"
]
] |
[
[
"",
"VAS",
"FinTech and Business Services",
"Online Advertising",
"Others",
"Total"
],
[
"",
"RMB’Million",
"RMB’Million",
"RMB’Million",
"RMB’Million",
"RMB’Million"
],
[
"Segment revenues",
"199,991",
"101,355",
"68,377",
"7,566",
"377,289"
],
[
"Gross profit",
"105,905",
"27,524",
"33,517",
"587",
"167,533"
],
[
"Depreciation",
"3,461",
"6,669",
"2,065",
"108",
"12,303"
],
[
"Amortisation",
"14,710",
"–",
"9,977",
"3,115",
"27,802"
]
] |
[
"(a) Description of segments and principal activities (continued) The chief operating decision-makers assess the performance of the operating segments mainly based on segment revenue and gross profit of each operating segment. The selling and marketing expenses and general and administrative expenses are common costs incurred for these operating segments as a whole and therefore, they are not included in the measure of the segments’ performance which is used by the chief operating decisionmakers as a basis for the purpose of resource allocation and assessment of segment performance. Interest income, other gains/(losses), net, finance income/(costs), net, share of profit/(loss) of associates and joint ventures and income tax expense are also not allocated to individual operating segment.",
"There were no material inter-segment sales during the years ended 31 December 2019 and 2018. The revenues from external customers reported to the chief operating decision-makers are measured in a manner consistent with that applied in the consolidated income statement.",
"Other information, together with the segment information, provided to the chief operating decision-makers, is measured in a manner consistent with that applied in these consolidated financial statements. There were no segment assets and segment liabilities information provided to the chief operating decision-makers.",
"The segment information provided to the chief operating decision-makers for the reportable segments for the years ended 31 December 2019 and 2018 is as follows:"
] |
[
"How much is the segment revenue?",
"VAS",
"How about its gross profit?",
"How about its depreciation?",
"How many percent of total depreciation was that?",
"How many percent of total segment revenues is the VAS segment revenue? ",
"How many percent of total amortisation was that amortisation?"
] |
[
[
"Which segment are you asking about?"
],
[
"199,991"
],
[
"105,905"
],
[
"3,461"
],
[
"28.13"
],
[
"53.01"
],
[
"52.91"
]
] |
[
[
"",
"",
"Year ended December 31,",
""
],
[
"",
"2018",
"2019",
"Change"
],
[
"Amounts are in thousands of U.S. Dollars",
"",
"",
""
],
[
"Revenues",
"$618,344",
"$668,637",
"$50,293"
],
[
"Net pool allocation",
"17,818",
"(4,264)",
"(22,082)"
],
[
"Voyage expenses and commissions",
"(20,374)",
"(23,772)",
"(3,398)"
],
[
"Vessel operating and supervision costs",
"(128,084)",
"(139,662)",
"(11,578)"
],
[
"Depreciation",
"(153,193)",
"(168,041)",
"(14,848)"
],
[
"General and administrative expenses",
"(41,993)",
"(47,385)",
"(5,392)"
],
[
"Impairment loss on vessels",
"—",
"(162,149)",
"(162,149)"
],
[
"Profit from operations",
"292,518",
"123,364",
"(169,154)"
],
[
"Financial costs",
"(166,627)",
"(190,481)",
"(23,854)"
],
[
"Financial income",
"4,784",
"5,318",
"534"
],
[
"Loss on derivatives",
"(6,077)",
"(55,441)",
"(49,364)"
],
[
"Share of profit of associates",
"1,800",
"1,627",
"(173)"
],
[
"Total other expenses, net",
"(166,120)",
"(238,977)",
"(72,857)"
],
[
"Profit/(loss) for the year",
"126,398",
"(115,613)",
"(242,011)"
],
[
"Non-controlling interests",
"78,715",
"(14,952)",
"(93,667)"
],
[
"Profit/(loss) attributable to owners of the Group",
"$47,683",
"$(100,661)",
"$(148,344)"
]
] |
[
"Results of Operations",
"Year Ended December 31, 2018 Compared to Year Ended December 31, 2019",
"During the year ended December 31, 2019, we had an average of 27.2 ships operating in our owned and bareboat fleet (including ships owned by the Partnership), having 9,518 revenue operating days and an average of 27.2 ships operating under our technical management (including 27.0 of our owned and bareboat ships). During the year ended December 31, 2018, we had an average of 26.0 ships operating in our owned and bareboat fleet (including ships owned by the Partnership), having 9,030 revenue operating days and an average of 25.5 ships operating under our technical management (including 25.0 of our owned and bareboat ships).",
"Revenues: Revenues increased by 8.1%, or $50.3 million, from $618.3 million during the year ended December 31, 2018 to $668.6 million during the year ended December 31, 2019. The increase in revenues is mainly attributable to an increase of $63.4 million deriving from the full operation of the GasLog Houston, the GasLog Hong Kong and the GasLog Gladstone which were delivered on January 8, 2018, March 20, 2018 and March 29, 2018, respectively and the deliveries of the GasLog Gladstone on March 15, 2019 and the GasLog Warsaw on July 31, 2019. These deliveries resulted in an increase in revenue operating days. In addition, there was an increase of $11.0 million from our vessels trading in the spot and short-term market including the impact of the unscheduled dry-dockings of the GasLog Savannah, the GasLog Singapore and the GasLog Chelsea and an increase of $2.7 million from the remaining fleet. The above increases were partially offset by a decrease of $26.1 million from the expiration of the initial time charters of the GasLog Shanghai, the GasLog Santiago, the GasLog Sydney, the GasLog Skagen, the GasLog Saratoga and the Methane Jane Elizabeth and a decrease of $0.7 million due to increased off-hire days from the remaining vessels. The average daily hire rate increased from $68,392 for the year ended December 31, 2018 to $70,167 for the year ended December 31, 2019."
] |
[
"How many ships on average are operating in 2019 and 2018 respectively?",
"What was the total revenue operating days in 2019?",
"What was the change in average daily hire rate from 2018 to 2019?",
"How about that in revenue?",
"What was the percentage change in profit in that period?",
"Which year has a higher revenue?"
] |
[
[
"27.2 ships",
"26.0 ships"
],
[
"9,518"
],
[
"1775"
],
[
"$50.3 million"
],
[
"-57.83"
],
[
"2019"
]
] |
[
[
"",
"",
"September 30,"
],
[
"",
"2019",
"2018"
],
[
"Finished products",
"$10,905",
"$7,099"
],
[
"Work in process and inventoried costs under long-term contracts",
"46,951",
"63,169"
],
[
"Materials and purchased parts",
"48,938",
"23,710"
],
[
"Customer advances",
"—",
"(9,779)"
],
[
"Net inventories",
"$ 106,794",
"$ 84,199"
]
] |
[
"NOTE 8—INVENTORIES",
"Inventories consist of the following (in thousands):",
"At September 30, 2019, work in process and inventoried costs under long-term contracts includes approximately $5.8 million in costs incurred outside the scope of work or in advance of a contract award compared to $0.9 million at September 30, 2018. We believe it is probable that we will recover the costs inventoried at September 30, 2019, plus a profit margin, under contract change orders or awards within the next year.",
"Costs we incur for certain U.S. federal government contracts include general and administrative costs as allowed by government cost accounting standards. The amounts remaining in inventory at September 30, 2019 and 2018 were $0.5 million and $2.0 million, respectively."
] |
[
"What do the costs incurred for certain U.S. federal government contracts include?",
"What is the amount of finished products?",
"2019",
"In which year is that value higher?",
"What are the components that make up the net inventories?",
"What is the percentage change in net inventories?",
"From 2018 to 2019.",
"How about the change in materials and purchased parts in that period?"
] |
[
[
"general and administrative costs as allowed by government cost accounting standards"
],
[
"Which year are you asking about?"
],
[
"$10,905"
],
[
"2019"
],
[
"Finished products",
"Work in process and inventoried costs under long-term contracts",
"Materials and purchased parts",
"Customer advances"
],
[
"Which period are you asking about?"
],
[
"26.84"
],
[
"25228"
]
] |
[
[
"",
"December 31, 2019",
"December 31, 2018"
],
[
"",
"(in thousands)",
""
],
[
"Principal",
"$212,000",
"$262,000"
],
[
"Less:",
"",
""
],
[
"Unamortized debt discount",
"(1,328)",
"(1,630)"
],
[
"Unamortized debt issuance costs",
"(3,763)",
"(4,613)"
],
[
"Net carrying amount of long-term debt",
"206,909",
"255,757"
],
[
"Less: current portion of long-term debt",
"—",
"—"
],
[
"Long-term debt, non-current portion",
"$206,909",
"255,757"
]
] |
[
"8. Debt and Interest Rate Swap",
"Debt The carrying amount of the Company's long-term debt consists of the following:",
"On May 12, 2017, the Company entered into a credit agreement with certain lenders and a collateral agent in connection with the acquisition of Exar (Note 3). The credit agreement provides for an initial secured term B loan facility (the “Initial Term Loan”) in an aggregate principal amount of $425.0 million. The credit agreement permits the Company to request incremental loans in an aggregate principal amount not to exceed the sum of $160.0 million (subject to adjustments for any voluntary prepayments), plus an unlimited amount that is subject to pro forma compliance with certain secured leverage ratio and total leverage ratio tests. Incremental loans are subject to certain additional conditions, including obtaining additional commitments from the lenders then party to the credit agreement or new lenders.",
"Loans under the credit agreement bear interest, at the Company’s option, at a rate equal to either (i) ab ase rate equal to the highest of (x) the federal funds rate, plus 0.50%, (y) the prime rate then in effect and (z) an adjusted LIBOR rate determined on the basis of a one- three- or six-month interest period, plus 1.0% or (ii) an adjusted LIBOR rate, subject to a floor of 0.75%, in each case, plus an applicable margin of 2.50% in the case of LIBOR rate loans and 1.50% in the case of base rate loans. Commencing on September 30, 2017, the Initial Term Loan will amortize in equal quarterly installments equal to 0.25% of the original principal amount of the Initial Term Loan, with the balance payable on the maturity date. The Initial Term Loan has a term of seven years and will mature on May 12, 2024, at which time all outstanding principal and accrued and unpaid interest on the Initial Term Loan must be repaid. The Company is also required to pay fees customary for a credit facility of this size and type.",
"The Company is required to make mandatory prepayments of the outstanding principal amount of term loans under the credit agreement with the net cash proceeds from the disposition of certain assets and the receipt of insurance proceeds upon certain casualty and condemnation events, in each case, to the extent not reinvested within a specified time period, from excess cash flow beyond stated threshold amounts, and from the incurrence of certain indebtedness. The Company has the right to prepay its term loans under the credit agreement, in whole or in part, at any time without premium or penalty, subject to certain limitations and a 1.0% soft call premium applicable during the first six months for the loan term. The Company exercised its right to prepay and made aggregate payments of principal of $213.0 million to date through December 31, 2019.",
"The Company’s obligations under the credit agreement are required to be guaranteed by certain of its domestic subsidiaries meeting materiality thresholds set forth in the credit agreement. Such obligations, including the guaranties, are secured by substantially all of the assets of the Company and the subsidiary guarantors pursuant to a security agreement with the collateral agent.",
"The credit agreement also contains customary events of default that include, among other things, certain payment defaults, cross defaults to other indebtedness, covenant defaults, change in control defaults, judgment defaults, and bankruptcy and insolvency defaults. If an event of default exists, the lenders may require immediate payment of all obligations under the credit agreement, and may exercise certain other rights and remedies provided for under the credit agreement, the other loan documents and applicable law.",
"As of December 31, 2019 and 2018, the weighted average effective interest rate on long-term debt was approximately4 .9% and 4.6%, respectively.",
"The debt is carried at its principal amount, net of unamortized debt discount and issuance costs, and is not adjusted to fair value each period. The issuance date fair value of the liability component of the debt in the amount of $398.5 million was determined using a discounted cash flow analysis, in which the projected interest and principal payments were discounted back to the issuance date of the term loan at a market interest rate for nonconvertible debt of 4.6%, which represents a Level 2 fair value measurement. The debt discount of $2.1 million and debt issuance costs of $6.0 million are being amortized to interest expense using the effective interest method from the issuance date through the contractual maturity date of the term loan of May 12, 2024.",
"During the year ended December 31, 2017, the Company recognized amortization of debt discount of $0.2 million and debt issuance costs of $0.6 million to interest expense.",
"The approximate fair value of the term loan as of December 31, 2019 and 2018 was $214.6 million and $268.1 million, respectively, which was estimated on the basis\nof inputs that are observable in the market and which is considered a Level 2 measurement method in the fair value hierarchy.",
"As of December 31, 2019 and 2018, the remaining principal balance on the term loan was $212.0 million and $262.0 million, respectively. The remaining principal\nbalance is due on May 12, 2024 at the maturity date on the term loan."
] |
[
"What was the Net carrying amount of long-term debt?",
"2019",
"How about 2018?",
"In which year was that amount less than 210,000 thousands?",
"What was the principal amount in 2019 and 2018 respectively?",
"What was the change between them?",
"What is the average Unamortized debt discount in that period?"
] |
[
[
"Which year are you asking about?"
],
[
"206,909"
],
[
"255,757"
],
[
"2019"
],
[
"$212,000",
"$262,000"
],
[
"-50000"
],
[
"-1479"
]
] |
[
[
"",
"CONSOLIDATED",
""
],
[
"",
"2019 $’000",
"2018 $’000"
],
[
"Current",
"25,626",
"22,103"
],
[
"Non-current",
"88,452",
"80,817"
],
[
"Total trail commission asset",
"114,078",
"102,920"
],
[
"Reconciliation of movement in trail commission asset:",
"",
""
],
[
"Opening balance",
"102,920",
"93,564"
],
[
"Trail commission revenue – current period trail commission sales sales",
"34,732",
"33,007"
],
[
"Cash receipts",
"(23,574)",
"(23,651)"
],
[
"Closing balance",
"114,078",
"102,920"
]
] |
[
"3.4 Trail commission asset",
"Recognition, measurement and classification",
"The Group has elected to account for trail commission revenue at the time of selling a product to which trail commission attaches, rather than on the basis of actual payments received from the relevant fund or providers involved. On initial recognition, trail commission revenue and assets are recognised at expected value. Subsequent to initial recognition and measurement, the carrying amount of the trail commission asset is adjusted to reflect actual and revised estimated cash flows. The resulting adjustment is recognised as revenue or against revenue in profit or loss.",
"Cash receipts that are expected to be received within 12 months of the reporting date are classified as current. All other expected cash receipts are classified as non-current.",
"Key estimates – trail commission revenue and asset",
"This method of revenue recognition and valuation of trail commission asset requires the Directors and management to make certain estimates and assumptions based on industry data and the historical experience of the Group.",
"Attrition rates in Health are particularly relevant to the overall trail commission asset considering the relative size of the Health trail commission asset. Attrition rates vary substantially by provider and also by the duration of time the policy has been in force, with rates generally higher in policies under two years old. The attrition rates used in the valuation of the Health portfolio at 30 June 2019 ranged from 7.5% and 26.5% (2018: 7.5% and 26.5%). The simple average duration band attrition increase was up to 0.2% during the period, with higher increases experienced for policies that have been in force for shorter periods of time.",
"In undertaking this responsibility, the Group engages Deloitte Actuaries and Consultants Limited, a firm of consulting actuaries, to assist in reviewing the accuracy of assumptions for health, mortgages and life trail revenue. These estimates and assumptions include, but are not limited to: termination or lapse rates, mortality rates, inflation, forecast fund premium increases and the estimated impact of known Australian Federal and State Government policies.",
"These variable considerations are constrained to the extent that it is highly probable that a significant reversal in the amount of cumulative revenue recognised will not occur when the uncertainty associated with the variable consideration is subsequently resolved. In determining the extent of constraint necessary to ensure to a high probability that a significant reversal of revenue will not occur, the Group performs a detailed assessment of the accuracy of previously forecast assumptions against historical results."
] |
[
"What is the range of the attrition rates used in the valuation of the Health portfolio at 30 June 2019?",
"What was the increase in the average duration band attrition in 2019?",
"Which cash receipts are classified as current?",
"What is the percentage change in the trail commission asset from 2018 to 2019?",
"The current trail commission asset.",
"What is the percentage change in the total trail commission asset in that period?",
"How about the cash receipts?"
] |
[
[
"7.5% and 26.5%"
],
[
"up to 0.2%"
],
[
"Cash receipts that are expected to be received within 12 months of the reporting date"
],
[
"What kind of trail commission asset are you asking about?"
],
[
"15.94"
],
[
"10.84"
],
[
"-0.33"
]
] |
[
[
"",
"",
"Years Ended December 31,",
""
],
[
"",
"2019",
"2018",
"2017"
],
[
"Federal income tax expense at statutory rates",
"$(11,061)",
"$(8,690)",
"$(10,892)"
],
[
"Effect of:",
"",
"",
""
],
[
"State income taxes, net of federal benefit",
"(2,973)",
"(2,665)",
"(2,244)"
],
[
"Impact of foreign operations",
"(11)",
"(146)",
"74"
],
[
"Non-deductible expenses",
"(592)",
"(1,274)",
"(1,350)"
],
[
"Federal tax rate change",
"—",
"—",
"(9,046)"
],
[
"Tax effect of TCJA from foreign earnings",
"(28)",
"(130)",
"(2,296)"
],
[
"Other",
"(581)",
"(645)",
"239"
],
[
"Changes in valuation allowance",
"92",
"835",
"273"
],
[
"Income tax expense",
"$(15,154)",
"$(12,715)",
"$(25,242)"
]
] |
[
"5. Income taxes: (Continued)",
"In the normal course of business the Company takes positions on its tax returns that may be challenged by taxing\nauthorities. The Company evaluates all uncertain tax positions to assess whether the position will more likely than not\nbe sustained upon examination. If the Company determines that the tax position is not more likely than not to be\nsustained, the Company records a liability for the amount of the benefit that is not more likely than not to be realized\nwhen the tax position is settled. The Company does not have a liability for uncertain tax positions at December 31,\n2019 and does not expect that its liability for uncertain tax positions will materially increase during the twelve months\nended December 31, 2020, however, actual changes in the liability for uncertain tax positions could be different than\ncurrently expected. If recognized, changes in the Company's total unrecognized tax benefits would impact the\nCompany's effective income tax rate.\nIn the normal course of business the Company takes positions on its tax returns that may be challenged by taxing authorities. The Company evaluates all uncertain tax positions to assess whether the position will more likely than not be sustained upon examination. If the Company determines that the tax position is not more likely than not to be sustained, the Company records a liability for the amount of the benefit that is not more likely than not to be realized when the tax position is settled. The Company does not have a liability for uncertain tax positions at December 31, 2019 and does not expect that its liability for uncertain tax positions will materially increase during the twelve months ended December 31, 2020, however, actual changes in the liability for uncertain tax positions could be different than currently expected. If recognized, changes in the Company's total unrecognized tax benefits would impact the Company's effective income tax rate. In the normal course of business the Company takes positions on its tax returns that may be challenged by taxing authorities. The Company evaluates all uncertain tax positions to assess whether the position will more likely than not be sustained upon examination. If the Company determines that the tax position is not more likely than not to be sustained, the Company records a liability for the amount of the benefit that is not more likely than not to be realized when the tax position is settled. The Company does not have a liability for uncertain tax positions at December 31, 2019 and does not expect that its liability for uncertain tax positions will materially increase during the twelve months ended December 31, 2020, however, actual changes in the liability for uncertain tax positions could be different than currently expected. If recognized, changes in the Company's total unrecognized tax benefits would impact the Company's effective income tax rate. In the normal course of business the Company takes positions on its tax returns that may be challenged by taxing authorities. The Company evaluates all uncertain tax positions to assess whether the position will more likely than not be sustained upon examination. If the Company determines that the tax position is not more likely than not to be sustained, the Company records a liability for the amount of the benefit that is not more likely than not to be realized when the tax position is settled. The Company does not have a liability for uncertain tax positions at December 31, 2019 and does not expect that its liability for uncertain tax positions will materially increase during the twelve months ended December 31, 2020, however, actual changes in the liability for uncertain tax positions could be different than currently expected. If recognized, changes in the Company's total unrecognized tax benefits would impact the Company's effective income tax rate.",
"The Company or one of its subsidiaries files income tax returns in the US federal jurisdiction and various state and foreign jurisdictions. The Company is subject to US federal tax and state tax examinations for years 2004 to 2019. The Company is subject to tax examinations in its foreign jurisdictions generally for years 2005 to 2019.",
"The following is a reconciliation of the Federal statutory income taxes to the amounts reported in the financial statements (in thousands)."
] |
[
"What are the federal income tax expense at statutory rates?",
"2017 and 2018.",
"What is the average of them?",
"What are that rates in 2018 and 2019?",
"What is the average of them?",
"What are the respective state income taxes, net of federal benefit in 2017 and 2018?",
"What is the average of them?"
] |
[
[
"Which years are you asking about?"
],
[
"10,892",
"8,690"
],
[
"9791"
],
[
"8,690",
"11,061"
],
[
"9875.5"
],
[
"2,244",
"2,665"
],
[
"2454.5"
]
] |
[
[
"",
"As of December 31,",
""
],
[
"",
"2019",
"2018"
],
[
"",
"(Dollars in millions)",
""
],
[
"Prepaid expenses",
"$274",
"307"
],
[
"Income tax receivable",
"35",
"82"
],
[
"Materials, supplies and inventory",
"105",
"120"
],
[
"Contract assets",
"42",
"52"
],
[
"Contract acquisition costs",
"178",
"167"
],
[
"Contract fulfillment costs",
"115",
"82"
],
[
"Other",
"59",
"108"
],
[
"Total other current assets",
"$808",
"918"
]
] |
[
"Other Current Assets",
"The following table presents details of other current assets in our consolidated balance sheets:"
] |
[
"What is the amount of contract assets?",
"2019",
"What is the change in that?",
"What is the amount of contract costs in 2019?",
"The contract acquisition costs.",
"Which year has a larger amount of those costs?",
"What are the different segments of other current assets highlighted in the table?",
"What is the percentage change in 2019?",
"The total other current assets."
] |
[
[
"Which year are you asking about?"
],
[
"42"
],
[
"-10"
],
[
"What kind of contract costs are you asking about?"
],
[
"178"
],
[
"2019"
],
[
"Prepaid expenses",
"Income tax receivable",
"Materials, supplies and inventory",
"Contract assets",
"Contract acquisition costs",
"Contract fulfillment costs",
"Other"
],
[
"Which segment are you asking about?"
],
[
"-11.98"
]
] |
[
[
"",
"",
"Year Ended",
""
],
[
"",
"June 30, 2019",
"June 24, 2018",
"June 25, 2017"
],
[
"",
"",
"(in thousands)",
""
],
[
"Income tax expense computed at federal statutory rate",
"$513,780",
"$891,011",
"$634,086"
],
[
"State income taxes, net of federal tax benefit",
"(17,565)",
"(50,585)",
"(11,973)"
],
[
"Foreign income taxed at different rates",
"(260,344)",
"(939,808)",
"(352,860)"
],
[
"Settlements and reductions in uncertain tax positions",
"(31,291)",
"(33,367)",
"(144,519)"
],
[
"Tax credits",
"(71,779)",
"(69,301)",
"(37,713)"
],
[
"State valuation allowance, net of federal tax benefit",
"26,742",
"57,302",
"12,070"
],
[
"Equity-based compensation",
"(7,566)",
"(35,875)",
"13,187"
],
[
"Other permanent differences and miscellaneous items",
"39,251",
"43,214",
"1,632"
],
[
"U.S. tax reform impacts",
"63,913",
"908,517",
"—"
],
[
"",
"$255,141",
"$771,108",
"$113,910"
]
] |
[
"A reconciliation of income tax expense provided at the federal statutory rate (21% in fiscal year 2019, 28.27% in fiscal year 2018, and 35% in fiscal year 2017) to actual income tax expense is as follows:",
"In July 2015, the U.S. Tax Court issued an opinion favorable to Altera with respect to Altera’s litigation with the IRS. The litigation related to the treatment of stock-based compensation expense in an intercompany cost-sharing arrangement with Altera’s foreign subsidiary. In its opinion, the U.S. Tax Court accepted Altera’s position of excluding stock-based compensation from its intercompany cost-sharing arrangement. In June 2019, the Ninth Circuit, through a three-judge panel, reversed the 2015 decision of the U.S. Tax Court. Altera has petitioned the Ninth Circuit for an en banc rehearing of a larger panel of eleven Ninth Circuit judges. The Company will continue to monitor and evaluate the potential impact of this litigation on its fiscal year 2020 Consolidated Financial Statements. The estimated potential impact is in the range of $75 million, which may result in a decrease in deferred tax assets and an increase in tax expense.",
"Effective from fiscal year 2014 through 2017, the Company had a tax ruling in Switzerland for one of its foreign subsidiaries. The impact of the tax ruling decreased taxes by approximately $6.3 million for fiscal year 2017. The benefit of the tax ruling on diluted earnings per share was approximately $0.03 in fiscal year 2017. Effective fiscal year 2018, the Company has withdrawn its reduced tax rate ruling in Switzerland for this subsidiary due to the ruling being no longer necessary as the subsidiary meets the requirements to achieve the reduced tax rate under Swiss tax law.",
"Earnings of the Company’s foreign subsidiaries included in consolidated retained earnings that are indefinitely reinvested in foreign operations aggregated to approximately $458.4 million at June 30, 2019. If these earnings were remitted to the United States, they would be subject to foreign withholding taxes of approximately $73.1 million at current statutory rates."
] |
[
"What might the estimated potential impact being in the range of $75 million result in?",
"What was the impact of tax ruling on taxes?",
"What is the amount of foreign withholding taxes at current statutory rates?",
"What is the percentage change in the Income tax expense computed at federal statutory rate from 2018 to 2019?",
"What is the percentage change in the Other permanent differences and miscellaneous items in that period?",
"In which year is the actual income tax expense the highest?"
] |
[
[
"a decrease in deferred tax assets and an increase in tax expense"
],
[
"decreased taxes by approximately $6.3 million for fiscal year 2017."
],
[
"$73.1 million"
],
[
"-42.34"
],
[
"-9.17"
],
[
"2018"
]
] |
[
[
"",
"2019",
"2018",
"2018-2019 Change"
],
[
"",
"",
"(in millions)",
""
],
[
"Interest income",
"$(24.8)",
"$(26.7)",
"$1.9"
],
[
"Interest expense",
"23.1",
"31.3",
"(8.2)"
],
[
"Other (income) expense, net",
"29.5",
"1.4",
"28.1"
]
] |
[
"Interest and Other",
"Interest income decreased by $1.9 million from 2018 to 2019 due primarily to lower cash and marketable securities balances in 2019. Interest expense decreased by $8.2 million from 2018 to 2019 due primarily to unrealized losses on equity marketable securities recognized in 2018. Other (income) expense, net increased by $28.1 million from 2018 to 2019 due primarily to a $15.0 million charge for the impairment of the investment in RealWear and an $11.5 million change in pension actuarial (gains) losses from a $3.3 million gain in 2018 to an $8.2 million loss in 2019."
] |
[
"What was the change in interest income?",
"2019",
"How about the interest expense?",
"What was its percentage change?",
"What was the percentage change in Other (income) expense, net in that period?",
"What are the components analyzed under Interest and Other in the table?",
"In which year was larger?",
"The interest expense."
] |
[
[
"Which year are you asking about?"
],
[
"decreased by $1.9 million"
],
[
"decreased by $8.2 million"
],
[
"-26.2"
],
[
"2007.14"
],
[
"Interest income",
"Interest expense",
"Other (income) expense, net"
],
[
"Which component are you asking about?"
],
[
"2018"
]
] |
[
[
"(In millions, except per share amounts)",
"",
"",
"",
"",
""
],
[
"Quarter Ended",
"September 30",
"December 31",
"March 31",
"June 30",
"Total"
],
[
"Fiscal Year 2019",
"",
"",
"",
"",
""
],
[
"Revenue",
"$ 29,084",
"$ 32,471",
"$ 30,571",
"$ 33,717",
"$ 125,843"
],
[
"Gross margin",
"19,179",
"20,048",
"20,401",
"23,305",
"82,933"
],
[
"Operating income",
"9,955",
"10,258",
"10,341",
"12,405",
"42,959"
],
[
"Net income (a)",
"8,824",
"8,420",
"8,809",
"13,187",
"39,240"
],
[
"Basic earnings per share",
"1.15",
"1.09",
"1.15",
"1.72",
"5.11"
],
[
"Diluted earnings per share (b)",
"1.14",
"1.08",
"1.14",
"1.71",
"5.06"
],
[
"Fiscal Year 2018",
"",
"",
"",
"",
""
],
[
"Revenue",
"$ 24,538",
"$ 28,918",
"$ 26,819",
"$ 30,085",
"$ 110,360"
],
[
"Gross margin",
"16,260",
"17,854",
"17,550",
"20,343",
"72,007"
],
[
"Operating income",
"7,708",
"8,679",
"8,292",
"10,379",
"35,058"
],
[
"Net income (loss) (c)",
"6,576",
"(6,302)",
"7,424",
"8,873",
"16,571"
],
[
"Basic earnings (loss) per share",
"0.85",
"(0.82)",
"0.96",
"1.15",
"2.15"
],
[
"Diluted earnings (loss) per share (d)",
"0.84",
"(0.82)",
"0.95",
"1.14",
"2.13"
]
] |
[
"NOTE 21 — QUARTERLY INFORMATION (UNAUDITED)",
"(a) Reflects the $157 million net charge related to the enactment of the TCJA for the second quarter and the $2.6 billion net income tax benefit related to the intangible property transfers for the fourth quarter, which together increased net income by $2.4 billion for fiscal year 2019. See Note 12 – Income Taxes for further information.",
"(b) Reflects the net charge related to the enactment of the TCJA and the net income tax benefit related to the intangible property transfers, which decreased (increased) diluted EPS $0.02 for the second quarter, $(0.34) for the fourth quarter, and $(0.31) for fiscal year 2019.",
"(c) Reflects the net charge (benefit) related to the enactment of the TCJA of $13.8 billion for the second quarter, $(104) million for the fourth quarter, and $13.7 billion for fiscal year 2018.",
"(d) Reflects the net charge (benefit) related to the enactment of the TCJA, which decreased (increased) diluted EPS $1.78 for the second quarter, $(0.01) for the fourth quarter, and $1.75 for fiscal year 2018."
] |
[
"What does Note 12 cover?",
"How about Note 21?",
"How much was the net charge related to the enactment of the TCJA for the second quarter?",
"Which quarter ended in fiscal year 2019 saw the highest revenue?",
"How much would diluted EPS be for second quarter ended of fiscal year 2019 without the net charge related to the enactment of the TCJA and the net income tax benefit related to the intangible property transfers?",
"The second quarter ended of fiscal year 2019.",
"How much would diluted earnings per share for fiscal year 2018 be without the net charge (benefit) related to the enactment of the TCJA?"
] |
[
[
"Income Taxes"
],
[
"QUARTERLY INFORMATION (UNAUDITED)"
],
[
"$157 million net charge related to the enactment of the TCJA for the second quarter"
],
[
"June 30"
],
[
"Which quarter are you asking about?"
],
[
"1.73"
],
[
"3.88"
]
] |
[
[
"",
"",
"For the Years Ended December 31,",
""
],
[
"",
"2019",
"2018",
"2017"
],
[
"Numerator:",
"",
"",
""
],
[
"Consolidated net income",
"$1,503",
"$1,848",
"$273"
],
[
"Denominator:",
"",
"",
""
],
[
"Denominator for basic earnings per common share—weighted-average common shares outstanding",
"767",
"762",
"754"
],
[
"Effect of dilutive stock options and awards under the treasury stock method",
"4",
"9",
"12"
],
[
"Denominator for diluted earnings per common share—weighted-average common shares outstanding plus dilutive common shares under the treasury stock method",
"771",
"771",
"766"
],
[
"Basic earnings per common share",
"$1.96",
"$2.43",
"$0.36"
],
[
"Diluted earnings per common share",
"$1.95",
"$2.40",
"$0.36"
]
] |
[
"20. Computation of Basic/Diluted Earnings Per Common Share",
"The following table sets forth the computation of basic and diluted earnings per common share (amounts in millions, except per share data):",
"The vesting of certain of our employee-related restricted stock units and options is contingent upon the satisfaction of predefined performance measures. The shares underlying these equity awards are included in the weighted-average dilutive common shares only if the performance measures are met as of the end of the reporting period. Additionally, potential common shares are not included in the denominator of the diluted earnings per common share calculation when the inclusion of such shares would be anti-dilutive."
] |
[
"What was the consolidated net income in 2018?",
"How about 2019?",
"What was the change between them?",
"What was the change in earnings per common share in that period?",
"THe diluted earnings per common share.",
"What was the Basic earnings per common share?",
"2017",
"What was the percentage change in that between 2017 and 2018?"
] |
[
[
"$1,848"
],
[
"$1,503"
],
[
"-345"
],
[
"What kind of earnings are you asking about?"
],
[
"-0.45"
],
[
"Which year are you asking about?"
],
[
"$0.36"
],
[
"575"
]
] |
[
[
"",
"30 June 2019",
"30 June 2018"
],
[
"",
"$'000",
"$'000"
],
[
"Rights and licences",
"13",
"13"
],
[
"Internally generated software",
"7,381",
"6,385"
],
[
"Software under development",
"16,284",
"6,509"
],
[
"Total intangible assets",
"23,678",
"12,907"
]
] |
[
"11 Intangible assets",
"(a) Intangible assets",
"RIGHTS AND LICENCES",
"Certain licences that NEXTDC possesses have an indefinite useful life and are carried at cost less impairment losses and are subject to impairment review at least annually and whenever there is an indication that it may be impaired.",
"Other licences that NEXTDC acquires are carried at cost less accumulated amortisation and accumulated impairment losses. Amortisation is recognised on a straight-line basis over the estimated useful life. The estimated useful life and amortisation method are reviewed at the end of each annual reporting period.",
"INTERNALLY GENERATED SOFTWARE",
"Internally developed software is capitalised at cost less accumulated amortisation. Amortisation is calculated using the straight-line basis over the asset’s useful economic life which is generally two to three years. Their useful lives and potential impairment are reviewed at the end of each financial year.",
"SOFTWARE UNDER DEVELOPMENT",
"Costs incurred in developing products or systems and costs incurred in acquiring software and licenses that will contribute to future period financial benefits through revenue generation and/or cost reduction are capitalised to software and systems. Costs capitalised include external direct costs of materials and services and employee costs.",
"Assets in the course of construction include only those costs directly attributable to the development phase and are only recognised following completion of technical feasibility and where the Group has an intention and ability to use the asset."
] |
[
"What does costs capitalised include?",
"What was the total intangible assets?",
"2019",
"What was the value in 2019 and 2018 respectively?",
"Rights and licences.",
"What was the percentage change in that between 2018 and 2019?",
"How about the internally generated software?",
"How about the software under development?"
] |
[
[
"external direct costs of materials and service",
"employee costs"
],
[
"Which year are you asking about?"
],
[
"23,678"
],
[
"Which asset are you asking about?"
],
[
"13",
"13"
],
[
"0"
],
[
"15.6"
],
[
"150.18"
]
] |
[
[
"",
"",
"Year Ended December 31,",
""
],
[
"",
"2019",
"2018",
"2017"
],
[
"",
"",
"(In thousands)",
""
],
[
"Cost of revenue",
"$2,843",
"$2,435",
"$1,406"
],
[
"Research and development",
"6,532",
"4,283",
"2,968"
],
[
"Sales and marketing",
"9,069",
"8,267",
"5,481"
],
[
"General and administrative",
"10,693",
"11,476",
"9,114"
],
[
"Total",
"$29,137",
"$26,461",
"$18,969"
]
] |
[
"The Company recognizes these compensation costs on a straight-line basis over the requisite service period of the award, which is generally the award vesting term of four years. Forfeitures are accounted for as they occur.",
"Total stock-based compensation cost capitalized in inventory was less than $0.8 million in the years ended December 31, 2019, 2018 and 2017.",
"As of December 31, 2019, $7.8 million of unrecognized compensation cost related to stock options is expected to be recognized over a weighted-average period of 2.1 years and $41.3 million of unrecognized compensation cost related to unvested RSUs is expected to be recognized over a weighted-average period of 2.2 years. If there are any modifications or cancellations of the underlying unvested awards, the Company may be required to accelerate, increase or cancel all or a portion of the remaining unearned stock-based compensation expense.",
"The following table sets forth the stock-based compensation expense resulting from stock options, RSUs, and the ESPP included in the Company’s consolidated statements of operations:"
] |
[
"Which years was the total stock-based compensation cost capitalized in inventory less than $0.8 million?",
"What may be required of the company if there are any modifications or cancellations of the underlying unvested awards?",
"What was the research and development expense?",
"2019",
"What was the percentage change in cost of revenue from 2018 to 2019?",
"What was the change in sales and marketing expenses from 2017 to 2018?",
"Which year has the highest expense?",
"The general and administrative expense."
] |
[
[
"2019, 2018 and 2017"
],
[
"May be required to accelerate, increase or cancel all or a portion of the remaining unearned stock-based compensation expense."
],
[
"Which year are you asking about?"
],
[
"6,532"
],
[
"16.76"
],
[
"2786"
],
[
"Which expense are you asking about?"
],
[
"2018"
]
] |
[
[
"",
"Years Ended December 31",
"",
"Change"
],
[
"",
"2019",
"2018",
"%"
],
[
"",
"(in thousands)",
"",
""
],
[
"Revenues",
"$23,713",
"$14,762",
"60.6"
],
[
"Cost of goods sold",
"24,574",
"11,780",
"(108.6)"
],
[
"Gross profit (loss)",
"(861)",
"2,982",
""
],
[
"Gross profit %",
"-3.6%",
"20.2%",
""
],
[
"Selling, general and administrative expenses",
"13,696",
"11,194",
"(22.4)"
],
[
"Loss from operations",
"(14,557)",
"(8,212)",
"(77.3)"
],
[
"Other income (expense):",
"(96)",
"(12)",
""
],
[
"Interest expense",
"50",
"-",
""
],
[
"Other, net",
"868",
"168",
""
],
[
"Total other (expense) income",
"822",
"156",
""
],
[
"Loss before income taxes",
"$(13,735)",
"$(8,056)",
""
]
] |
[
"ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS",
"See Note 3 of our Notes to Consolidated Financial Statements for a discussion of 2019 and 2018 acquisitions.",
"Results of Operations",
"Revenues increased $9.0 million, or 61%, in 2019 compared to the prior year, with overall growth supported by the acquisition of Golden Ridge in November 2018, and MGI Grain in April 2019. Food product revenues increased 97% year over year, primarily due to the addition of new products for human consumption from Golden Ridge and MGI Grain. Animal feed product revenues increased 10%. Animal feed product growth was primarily due to increased buying from our existing SRB customer base.",
"Gross profit percentage decreased 23.8 percentage points to negative 3.6% in 2019 from 20.2% in the prior year. The decrease in gross profit was primarily attributable to operating losses at Golden Ridge due to an unfavorable contract to sell medium grain rice entered into by the seller of the mill and low levels of plant utilization in the latter half of the year while the mill was going through a planned upgrade cycle. With this project completed in early January 2020, we expect to see improved productivity and a positive contribution margin from Golden Ridge in 2020.",
"Selling, general and administrative (SG&A) expenses were $13.7 million in 2019, compared to $11.2 million in 2018, an increase of $2.5 million, or 22.4%. Outside services increased $1.1 million in 2019, compared to the prior year, primarily as a result of higher outside accounting, legal and professional fees associated with the acquisition of Golden Ridge and MGI Grain. Salary, wages and benefit related expenses increased $1.1 million in 2019, compared to the prior year, driven substantially by equity grants and outside labor costs. Bad debt expense increased $0.2 million and rent expense increased $0.1 million in 2019, compared to the prior year.",
"Other, net was $0.9 million for 2019 compared to $0.2 million in 2018. This increase was primarily related to the settlement of a net working capital dispute and other issues with the seller of Golden Ridge."
] |
[
"What are the respective revenues from operations in 2018 and 2019?",
"What is the average of them?",
"What are the respective cost of goods sold from operations in these years?",
"What is the percentage change between them?",
"What are the respective expenses from operations in 2018 and 2019?",
"The selling, general and administrative expenses.",
"What is the percentage change between them?"
] |
[
[
"$14,762",
"$23,713"
],
[
"19237.5"
],
[
"11,780",
"24,574"
],
[
"108.61"
],
[
"Which expense are you asking about?"
],
[
"11,194",
"13,696"
],
[
"22.35"
]
] |
[
[
"($ in millions)",
"",
"",
"",
""
],
[
"At December 31, 2019:",
"Americas",
"EMEA",
"Asia Pacific",
"Total"
],
[
"Recorded investment:",
"",
"",
"",
""
],
[
"Lease receivables",
"$ 3,419",
"$1,186",
"$ 963",
"$ 5,567"
],
[
"Loan receivables",
"6,726",
"3,901",
"2,395",
"13,022"
],
[
"Ending balance",
"$10,144",
"$5,087",
"$3,359",
"$18,590"
],
[
"Recorded investment, collectively evaluated for impairment",
"$10,032",
"$5,040",
"$3,326",
"$18,399"
],
[
"Recorded investment, individually evaluated for impairment",
"$ 112",
"$ 47",
"$ 32",
"$ 191"
],
[
"Allowance for credit losses",
"",
"",
"",
""
],
[
"Beginning balance at January 1, 2019",
"",
"",
"",
""
],
[
"Lease receivables",
"$ 53",
"$ 22",
"$ 24",
"$ 99"
],
[
"Loan receivables",
"105",
"43",
"32",
"179"
],
[
"Total",
"$ 158",
"$ 65",
"$ 56",
"$ 279"
],
[
"Write-offs",
"(42)",
"(3)",
"(18)",
"(63)"
],
[
"Recoveries",
"1",
"0",
"1",
"2"
],
[
"Provision",
"5",
"(7)",
"(3)",
"(5)"
],
[
"Other*",
"(1)",
"0",
"(1)",
"(2)"
],
[
"Ending balance at December 31, 2019",
"$ 120",
"$ 54",
"$ 36",
"$ 210"
],
[
"Lease receivables",
"$ 33",
"$ 23",
"$ 16",
"$ 72"
],
[
"Loan receivables",
"$ 88",
"$ 31",
"$ 20",
"$ 138"
],
[
"Related allowance, collectively evaluated for impairment",
"$ 25",
"$ 11",
"$ 4",
"$ 39"
],
[
"Related allowance, individually evaluated for impairment",
"$ 96",
"$ 43",
"$ 32",
"$ 171"
]
] |
[
"The following tables present the recorded investment by portfolio segment and by class, excluding commercial financing receivables and other miscellaneous financing receivables at December 31, 2019 and 2018. Commercial financing receivables are excluded from the presentation of financing receivables by portfolio segment, as they are short term in nature and the current estimated risk of loss and resulting impact to the company’s financing results are not material.",
"Write-offs of lease receivables and loan receivables were $16 million and $47 million, respectively, for the year ended December 31, 2019. Provisions for credit losses recorded for lease receivables and loan receivables were a release of $6 million and an addition of $2 million, respectively, for the year ended December 31, 2019.",
"The average recorded investment of impaired leases and loans for Americas, EMEA and Asia Pacific was $138 million, $49 million and $45 million, respectively, for the year ended December 31, 2019. Both interest income recognized, and interest income recognized on a cash basis on impaired leases and loans were immaterial for the year ended December 31, 2019."
] |
[
"Why are Commercial financing receivables are excluded from financing receivables?",
"What were the write-offs in December 2019?",
"Write-offs of lease receivables.",
"What is the average recorded investment of impaired leases and loans for December 2019?",
"Americas",
"What is the average Recorded investment for Americas and EMEA for December 2019?",
"The Recorded investment of Lease receivables.",
"How about the Recorded investment of Loan receivables?",
"What is the average Allowance for credit losses of Lease receivables at the beginning of January 2019?"
] |
[
[
"they are short term in nature and the current estimated risk of loss and resulting impact to the company’s financing results are not material."
],
[
"What kind of write-offs are you asking about?"
],
[
"$16 million"
],
[
"Which region are you asking about?"
],
[
"$138 million"
],
[
"What kind of investment are you asking about?"
],
[
"2302.5"
],
[
"5313.5"
],
[
"33"
]
] |
[
[
"",
"",
"Years Ended June 30,",
""
],
[
"($ in millions)",
"2019",
"2018",
"2017"
],
[
"Domestic",
"$204.2",
"$140.3",
"$56.0"
],
[
"Foreign",
"11.8",
"19.9",
"14.2"
],
[
"Income before income taxes",
"$216.0",
"$160.2",
"$70.2"
]
] |
[
"17. Income Taxes",
"Income before income taxes for the Company’s domestic and foreign operations was as follows:"
] |
[
"What was the amount of Income before income taxes?",
"2019",
"How about the Domestic in 2018?",
"What are the different types of operations for which income before income taxes was provided?",
"In which year was largest?",
"Foreign",
"What was the change in that in 2019 from 2018?",
"How about its percentage change?"
] |
[
[
"Which year are you asking about?"
],
[
"$216.0"
],
[
"$140.3"
],
[
"Domestic",
"Foreign"
],
[
"Which type of operation for which income before income taxes are you asking about?"
],
[
"2018"
],
[
"-8.1"
],
[
"-40.7"
]
] |
[
[
"",
"",
"Three Months Ended",
"",
"% Variation",
""
],
[
"",
"December 31, 2019",
"September 29, 2019",
"December 31, 2018",
"Sequential",
"Year-Over-Year"
],
[
"",
"",
"",
"(Unaudited, in millions)",
"",
""
],
[
"Selling, general and administrative expenses",
"$(285)",
"$(267)",
"$(285)",
"(6.3)%",
"0.4%"
],
[
"Research and development expenses",
"(387)",
"(362)",
"(345)",
"(7.0)",
"(12.3)"
],
[
"Total operating expenses",
"$(672)",
"$(629)",
"$(630)",
"(6.7)%",
"(6.6)%"
],
[
"As percentage of net revenues",
"(24.4)%",
"(24.7)%",
"(23.8)%",
"+30 bps",
"-60 bps"
]
] |
[
"The amount of our operating expenses increased by $43 million on a sequential basis, mainly driven by seasonality and salary dynamic.",
"On a year-over-year basis, our operating expenses increased by $42 million, mainly due to salary dynamic and increased spending on certain R&D programs, partially offset by favorable currency effects, net of hedging.",
"Fourth quarter 2019 R&D expenses were net of research tax credits in France and Italy, which amounted to $37 million, compared to $29 million in the third quarter of 2019 and $39 million in the fourth quarter of 2018."
] |
[
"Why did on sequential basis the operating expenses increased?",
"On sequential basis.",
"How about that on year-over-year basis?",
"How much did the R&D expenses account for in 2019?",
"The fourth quarter of 2019.",
"What is the average expenses for the period December 31, 2019 and September 29, 2019?",
"Selling, general and administrative expenses.",
"What is the average Research and development expenses for the period December 31, 2019 and 2018?",
"What is the increase/ (decrease) in total operating expenses in that period?"
] |
[
[
"On what kind of basis are you asking about?"
],
[
"driven by seasonality and salary dynamic."
],
[
"mainly due to salary dynamic and increased spending on certain R&D programs, partially offset by favorable currency effects, net of hedging."
],
[
"Which quarter of 2019 are you asking about?"
],
[
"$37 million"
],
[
"Which expense are you asking about?"
],
[
"276"
],
[
"366"
],
[
"42"
]
] |
[
[
"",
"2019",
"2018"
],
[
"Buildings and building improvements",
"$2,692",
"$2,790"
],
[
"Machinery, equipment and furniture",
"57,157",
"57,503"
],
[
"",
"59,849",
"60,293"
],
[
"Less, accumulated depreciation",
"(46,811 )",
"(46,166)"
],
[
"",
"$13,038",
"$ 14,127"
]
] |
[
"7. Property, Plant and Equipment and Leases",
"Property, plant and equipment at April 30, 2019 and 2018, consisted of the following (in thousands):",
"Depreciation and amortization expense for the years ended April 30, 2019 and 2018 was $2,802,000 and $2,484,000, respectively.",
"Maintenance and repairs charged to operations for the years ended April 30, 2019 and 2018 was approximately $309,000 and $466,000, respectively.",
"The Company leases its Long Island, New York headquarters building. On July 25, 2018, the Company signed an amendment to the lease which extends the current lease terms ten years and eight months through September 30, 2029. Pursuant to the amendment to the lease agreement, the annual rent will increase from $1,046,810 in 2019 to $1,276,056 in 2029. Under the terms of the lease, the Company is required to pay its proportionate share of real estate taxes, insurance and other charges.",
"In addition, the Company’s subsidiaries in New Jersey and California lease their office and manufacturing facilities. On February 1, 2018, FEI-Elcom entered into a new lease agreement in New Jersey for office and manufacturing space encompassing approximately 9,000 square feet. The monthly rent is $9,673 through the end of the lease which expires in January 31, 2021. FEI-Zyfer has signed a second amendment to its lease in California, which extends the lease an additional 88 months, beginning October 1, 2017 and expiring January 31, 2025. The average annual rent over the period of the amendment is approximately $312,000. FEI-Zyfer leases office and manufacturing space encompassing 27,850 square feet.",
"Rent expense under operating leases for the years ended April 30, 2019 and 2018 was approximately $1.2 million and $1.7 million, respectively. The Company records rent expense on its New York building and FEI-Zyfer facility on the straight-line method over the lives of the respective leases. As a result, as of April 30, 2019 and 2018, the Company’s Consolidated Balance Sheet included deferred rent payable of approximately $236,000 and $110,000, respectively, which will be recognized over the respective rental periods."
] |
[
"What is the amount of maintenance and repairs charged to operations for 2019 and 2018 respectively?",
"What is the depreciation and amortization expense for these two years respectively?",
"What is the total maintenance and repairs charged to operations for these years?",
"What is the amount of buildings and building improvements in these two years respectively?",
"What is the average value of them?",
"What is the change between the value of machinery, equipment and furniture between 2018 and 2019?"
] |
[
[
"$309,000",
"$466,000"
],
[
"$2,802,000",
"$2,484,000"
],
[
"775000"
],
[
"$2,692",
"$2,790"
],
[
"2741"
],
[
"-346"
]
] |
[
[
"",
"Operating Leases",
"Other Contractual Commitments",
"Total"
],
[
"",
"",
"(U.S. $ in thousands)",
""
],
[
"Fiscal Period:",
"",
"",
""
],
[
"Year ending 2020",
"$38,790",
"$108,978",
"$147,768"
],
[
"Years ending 2021 - 2024",
"148,021",
"219,342",
"367,363"
],
[
"Thereafter",
"144,037",
"—",
"144,037"
],
[
"Total commitments",
"$330,848",
"$328,320",
"659,168"
]
] |
[
"18. Commitments",
"The Group leases various offices in locations such as Amsterdam, the Netherlands; the San Francisco Bay Area, California, New York, New York, Austin, Texas, and Boston, Massachusetts, United States; Sydney, Australia; Manila, the Philippines; Bengaluru, India; Yokohama, Japan; and Ankara, Turkey under non-cancellable operating leases expiring within one to nine years. The leases have varying terms, escalation clauses and renewal rights. On renewal, the terms of the leases are renegotiated. The Group incurred rent expense on its operating leases of $38.6 million, $23.6 million, and $12.2 million during the fiscal years ended 2019, 2018 and 2017, respectively.",
"Additionally, the Group has a contractual commitment for services with third-parties related to its cloud services platform and data centers. These commitments are non-cancellable and expire within two to four years.",
"Commitments for minimum lease payments in relation to non-cancellable operating leases and purchase obligations as of June 30, 2019 were as follows:"
] |
[
"What is the value of the incurred rent expense on the Group's operating leases? ",
"During fiscal years ended 2017, 2018 and 2019 respectively.",
"What is the total number of countries that the Group leases offices in?",
"What are the total commitments towards operating leases?",
"How about other contractual commitments?",
"What is the difference between the above two total commitments?",
"What is the percentage constitution of the commitments for operating leases among the total commitments for operating leases?",
"For year ending 2020"
] |
[
[
"Which year are you asking about?"
],
[
"$12.2 million",
"$23.6 million",
"$38.6 million"
],
[
"7"
],
[
"$330,848"
],
[
"$328,320"
],
[
"2528"
],
[
"Which year are you asking about?"
],
[
"11.72"
]
] |
[
[
"",
"April 26, 2019",
"April 27, 2018"
],
[
"Fair value of plan assets",
"$ 31",
"$ 25"
],
[
"Benefit obligations",
"(61)",
"(53)"
],
[
"Unfunded obligations",
"$(30)",
"$(28)"
]
] |
[
"Other Defined Benefit Plans",
"We maintain various defined benefit plans to provide termination and postretirement benefits to certain eligible employees outside of the U.S. We also provide disability benefits to certain eligible employees in the U.S. Eligibility is determined based on the terms of our plans and local statutory requirements.",
"Funded Status",
"The funded status of our postretirement health care and other defined benefit plans, which is recognized in other long-term liabilities in our consolidated balance sheets, was as follows (in millions):"
] |
[
"Which years does the table provide information for the funded status of the company's postretirement health care and other defined benefit plans?",
"What was the fair value of plan assets?",
"2019",
"What was its change between 2018 and 2019?",
"What were the obligations in 2018?",
"The benefit obligations.",
"What was its change between 2018 and 2019?",
"What was the percentage change in unfunded obligations in that period?"
] |
[
[
"2019",
"2018"
],
[
"Which year are you asking about?"
],
[
"31"
],
[
"6"
],
[
"What kind of obligations are you asking about?"
],
[
"(53)"
],
[
"-8"
],
[
"7.14"
]
] |
[
[
"",
"2018",
"2019"
],
[
"METRO",
"86,239",
"82,979"
],
[
"METRO Germany",
"11,816",
"11,760"
],
[
"METRO Western Europe (excl.Germany)",
"24,073",
"24,044"
],
[
"METRO Russia",
"13,884",
"12,288"
],
[
"METRO Eastern Europe (excl.Russia)",
"28,264",
"27,589"
],
[
"METRO Asia",
"8,202",
"7,298"
],
[
"Others",
"6,916",
"7,067"
],
[
"METROAG",
"863",
"837"
],
[
"Total",
"94,018",
"90,883"
]
] |
[
"DEVELOPMENT OF EMPLOYEE NUMBERS BY SEGMENTS",
"Full-time equivalents1 as of the closing date of 30/9",
"1 Excluding METRO China."
] |
[
"When were the employee numbers by segments calculated?",
"What was excluded in the full-time equivalents as of the closing date of 30/9?",
"What were the components under METRO in the table when accounting for the employee numbers by segments?",
"In which year was the amount larger?",
"METRO AG",
"What was its change in 2019 from 2018?",
"How about its percentage change?"
] |
[
[
"as of the closing date of 30/9"
],
[
"METRO China."
],
[
"METRO Germany",
"METRO Western Europe (excl.Germany)",
"METRO Russia",
"METRO Eastern Europe (excl.Russia)",
"METRO Asia"
],
[
"Which component are you asking about?"
],
[
"2018"
],
[
"-26"
],
[
"-3.01"
]
] |
[
[
"Selling, General and Administrative Costs (in thousands)",
"",
"",
""
],
[
"Description",
"Twelve months ended October 31, 2018",
"Twelve months ended October 31, 2017",
"Increase/(Decrease) "
],
[
"Start-up expense (Tyler, Texas complex) ",
"$13,394",
"$403",
"$ 12,991"
],
[
"Legal services expense ",
"17,573",
"7,879",
"9,694"
],
[
"All other SG&A ",
"68,863",
"61,847",
"7,016"
],
[
"Administrative salary expense",
"42,288",
"36,193",
"6,095"
],
[
"Trainee expense ",
"21,553",
"16,182",
"5,371"
],
[
"Charter aircraft expense",
"2,167",
"900",
"1,267"
],
[
"Depreciation expense - machinery and equipment ",
"5,801",
"4,555",
"1,246"
],
[
"Stock compensation expense ",
"15,702",
"16,952",
"(1,250)"
],
[
"Marketing expense",
"32,624",
"34,272",
"(1,648)"
],
[
"Start-up expense (St. Pauls, North Carolina complex) ",
"—",
"4,022",
"(4,022)"
],
[
"Bonus award program expense ",
"—",
"15,098",
"(15,098)"
],
[
"Employee Stock Ownership Plan (\"ESOP\") expense",
"2,000",
"18,000",
"(16,000)"
],
[
"Total SG&A ",
"$221,965",
"$216,303",
"$ 5,662"
]
] |
[
"SG&A costs during fiscal 2018 were $222.0 million, an increase of $5.7 million compared to the $216.3 million of SG&A during fiscal 2017. The following table shows the components of SG&A costs for the twelve months ended October 31, 2018 and 2017.",
"Regarding the table above, the change in start-up expense in any particular period relates to the stage of the start-up process in which a facility under construction is in during the period. Non-construction related expenses, such as labor, training and office-related expenses for a facility under construction are recorded as start-up expense until the facility begins operations. As a facility moves closer to actual start-up, the expenses incurred for labor, training, etc. increase. As a result, amounts classified as start-up expenses will increase period over period until the facility begins production. Once production begins, the expenses from that point forward are recorded as costs of goods sold. The increase in legal expenses was primarily attributable to our ongoing defense of the litigation described in “Part II, Item 3. Legal Proceedings” of this Form 10-K. The increases in trainee expense and administrative salaries were primarily attributable to increases in personnel that coincide with the Company's growth plans. The decrease in bonus expense, payouts of which are based on profitability, was the result of profitability not reaching the required levels for payout of that incentive. The decrease in ESOP expense, payouts of which are based on profitability, was attributable to the difference in the level of profitability between fiscal 2018 and 2017. The increase in all other SG&A expenses was the result of a net increase in various other categories of SG&A costs."
] |
[
"What does the table show?",
"What is the expenses for fiscal years 2018 and 2017 respectively?",
"The legal service expenses.",
"How about the Administrative salary expense?",
"What is the average Charter aircraft expense for that period?",
"How about Employee Stock Ownership Plan (\"ESOP\") expense?",
"How about Marketing expense?"
] |
[
[
"the components of SG&A costs for the twelve months ended October 31, 2018 and 2017"
],
[
"Which expense are you asking about?"
],
[
"17,573",
"7,879"
],
[
"42,288",
"36,193"
],
[
"1533.5"
],
[
"10000"
],
[
"33448"
]
] |
[
[
"",
"",
"Years Ended December 31,",
""
],
[
"",
"2019",
"2018",
"2017"
],
[
"Stock-based compensation by type of award:",
"",
"",
""
],
[
"Stock options",
"$648",
"$1,353",
"$2,705"
],
[
"Stock awards",
"14,882",
"10,445",
"11,421"
],
[
"Employee stock purchase rights(1)",
"999",
"5,240",
"3,077"
],
[
"Total",
"$16,529",
"$17,038",
"$17,203"
],
[
"Stock-based compensation by category of expense:",
"",
"",
""
],
[
"Cost of revenue",
"$1,500",
"$1,602",
"$1,362"
],
[
"Sales and marketing",
"5,765",
"5,667",
"6,075"
],
[
"Research and development",
"6,039",
"6,631",
"6,343"
],
[
"General and administrative",
"3,225",
"3,138",
"3,423"
],
[
"Total",
"$16,529",
"$17,038",
"$17,203"
]
] |
[
"Stock-Based Compensation",
"A summary of our stock-based compensation expense is as follows (in thousands):",
"(1) Amount for the year ended December 31, 2018 includes $4.1 million of accelerated stock-based compensation expense. In March 2018, as\na result of a suspension of the 2014 Purchase Plan due to our non-timely filing status, all unrecognized stock-based compensation expense\nrelated to ESPP under the 2014 Purchase Plan was accelerated and recognized within the consolidated statement of operations.",
"As of December 31, 2019, we had $29.5 million of unrecognized stock-based compensation expense related to\nunvested stock-based awards, including ESPP under our Amended 2014 Purchase Plan, which will be recognized\nover a weighted-average period of 2.6 years."
] |
[
"What is the amount of employee stock purchase rights including accelerated stock-based compensation expense?",
"At the end of 2019.",
"How about at the end of 2018?",
"How about 2017?",
"What is the percentage change in total stock base compensation by type of award between 2018 and 2019?",
"What is its total amount between 2017 to 2019?",
"What is the percentage change in stock based compensation between 2018 and 2019?",
"Sales and marketing."
] |
[
[
"Which year are you asking about?"
],
[
"999"
],
[
"5,240"
],
[
"3,077"
],
[
"-2.99"
],
[
"50770"
],
[
"What type of stock based compensation are you asking about?"
],
[
"1.73"
]
] |
[
[
"",
"2019",
"2018",
"2017"
],
[
"Federal statutory income tax rate",
"21.0 %",
"24.5 % ",
"35.0 %"
],
[
"Increase (decrease) resulting from: ",
"",
"",
""
],
[
"Foreign tax rate differences",
"(21.0)",
"(30.2)",
"(39.9)"
],
[
"Withholding tax on dividends ",
"(5.4)",
"23.7",
"—"
],
[
"Permanent differences ",
"(1.3)",
"0.8",
"3.0"
],
[
"Excess tax benefits related to share-based compensation ",
"(1.3)",
"(2.7)",
"(2.0)"
],
[
"Global intangible low-taxed income (\"GILTI\") ",
"11.7",
"—",
"—"
],
[
"Deemed repatriation tax ",
"5.6",
"92.2",
"—"
],
[
"Non-deductible compensation",
"1.5",
"0.2",
"0.2"
],
[
"Valuation allowances ",
"1.5",
"(30.6)",
"12.2"
],
[
"Rate changes ",
"—",
"9.0",
"—"
],
[
"Other, net ",
"1.5",
"1.0",
"(0.5)"
],
[
"Effective income tax rate",
"13.8 % ",
"87.9 % ",
"8.0 %"
]
] |
[
"The following is a reconciliation of the federal statutory income tax rate to the effective income tax rates reflected in the Consolidated Statements of Comprehensive Income for fiscal 2019, 2018 and 2017:",
"The effective tax rate for fiscal 2019 was lower than the effective tax rate for fiscal 2018 primarily due to the impact of the U.S. Tax Cuts and Jobs Act (“Tax Reform”) that was recorded in fiscal 2018. During fiscal 2019, the Company reasserted that certain historical undistributed earnings of two foreign subsidiaries will be permanently reinvested which provided a $10.5 million benefit to the effective tax rate. The impact of the changes in the Company's assertion has been included in \"Withholding tax on dividends\" in the effective income tax reconciliation above. The reduction to the effective tax rate compared to fiscal 2018 was offset by an increase due to the GILTI provisions of Tax Reform in fiscal 2019. The GILTI impact in the table above includes the deduction allowed by the regulations as well as the foreign tax credits attributed to GILTI. The Company has elected to treat the income tax effects of GILTI as a period cost. The effective tax rate for fiscal 2018 was higher than the effective tax rate for fiscal 2017 primarily due to expenses related to Tax Reform.",
"During fiscal 2019, the Company recorded a $1.9 million increase to its valuation allowance due to continuing losses in certain jurisdictions within the AMER and EMEA segments, partially offset by an expiration of net operating losses that had a valuation allowance recorded.",
"During fiscal 2018, the Company recorded a $32.9 million reduction to its valuation allowance which includes $9.7 million related to the U.S. federal tax rate change as part of Tax Reform from 35% to 21%, $21.0 million of carryforward credits and net operating losses utilized against the deemed repatriation of undistributed foreign earnings and $3.6 million for the release of the U.S. valuation allowance due to the expected future U.S. taxable income related to the GILTI provisions of Tax Reform. These benefits were partially offset by a $1.4 million increase in foreign valuation allowances in the EMEA segment.",
"During fiscal 2017, the Company recorded a $14.9 million addition to its valuation allowance relating to continuing losses in certain jurisdictions within the AMER and EMEA segments."
] |
[
"What was the company's addition to its valuation allowance?",
"During Fiscal 2017.",
"What was the foreign tax rate differences in that year?",
"What was the tax rate in 2019?",
"The Federal statutory income tax rate.",
"How many years did it exceed 30.0%?",
"Which years did the increase resulting from compensation exceed 1%?",
"The Non-deductible compensation.",
"What was the change in the increase resulting from permanent differences between 2017 and 2018?"
] |
[
[
"Which year are you asking about?"
],
[
"14.9"
],
[
"(39.9)"
],
[
"Which type of tax rate are you asking about?"
],
[
"21.0"
],
[
"1"
],
[
"Which type of compensation are you asking about?"
],
[
"2019"
],
[
"-2.2"
]
] |
[
[
"",
"December 31",
""
],
[
"",
"2019",
"2018"
],
[
"Finished goods",
"$698",
"$853"
],
[
"Raw materials",
"90",
"3"
],
[
"Packaging",
"110",
"102"
],
[
"Inventories",
"$ 898",
"$ 958"
]
] |
[
"NOTE 7. INVENTORIES",
"The following table details the components of inventories (in thousands)."
] |
[
"What are the respective values of finished goods in 2018 and 2019?",
"How about the raw materials?",
"What is the average value of finished goods in 2018 and 2019?",
"How about the raw materials?",
"What are the respective values of packaging in 2018 and 2019?",
"What is the average value of them?"
] |
[
[
"$853",
"$698"
],
[
"3",
"90"
],
[
"775.5"
],
[
"46.5"
],
[
"102",
"110"
],
[
"106"
]
] |
[
[
"As of December 31,",
"",
""
],
[
"",
"2019",
"2018"
],
[
"Computers, software, furniture and fixtures",
"$1,406",
"$1,407"
],
[
"Equipment under capital lease 3,348",
"3,348",
"3,525"
],
[
"Less accumulated depreciation and amortization",
"(3,171)",
"(2,448)"
],
[
"Property and equipment, net",
"$1,583",
"$2,484"
]
] |
[
"4. Property and Equipment",
"Property and equipment consist of the following (in thousands):",
"Depreciation and amortization expense was $0.9 million and $1.0 million for the years ended December 31, 2019 and 2018, respectively."
] |
[
"How much were the depreciation and amortization expenses for the years ended December 31, 2018, and 2019, respectively?",
"What is the ratio of that for the year 2018 to 2019?",
"What is the net value of property and equipment as of December 31, 2019, and 2018, respectively? ",
"What is the value of equipment under capital lease as of December 31, 2019?",
"What is the percentage change in computers, software, furniture and fixtures between 2018 and 2019?",
"How about the net value of property and equipment?"
] |
[
[
"$1.0 million",
"$0.9 million"
],
[
"1.11"
],
[
"$1,583",
"$2,484"
],
[
"3,348"
],
[
"-0.07"
],
[
"-36.27"
]
] |
[
[
"",
"",
"Fiscal Year Ended",
"",
""
],
[
"",
"December 28, 2019",
"December 29, 2018",
"$ Change",
"% Change"
],
[
"",
"",
"(Dollars in thousands)",
"",
""
],
[
"Selling, general and administrative",
"$106,335",
"$99,254",
"$7,081",
"7.1 %"
],
[
"% of revenues",
"18.0 %",
"18.7 %",
"",
""
],
[
"",
"",
"Fiscal Year Ended",
"",
""
],
[
"",
"December 29, 2018",
"December 30, 2017",
"$ Change",
"% Change"
],
[
"",
"",
"(Dollars in thousands)",
"",
""
],
[
"Selling, general and administrative",
"$99,254",
"$95,489",
"$3,765",
"3.9 %"
],
[
"% of revenues",
"18.7 %",
"17.4 %",
"",
""
]
] |
[
"Selling, General and Administrative",
"The increase in selling, general and administrative in fiscal 2019 compared to fiscal 2018 was primarily due to higher variable costs on increased sales volumes, primarily related to increases in headcount costs and employee incentive compensation, as well as additional costs from the FRT acquisition, offset partially by a decrease in the amortization of intangible assets."
] |
[
"What led to increase in selling, general and administrative in fiscal 2019 compared to fiscal 2018?",
"What was the Selling, general and administrative?",
"In 2018 and 2017.",
"What is the average of them?",
"How about for the Fiscal Year Ended December 28, 2019 to December 29, 2018?",
"In which year was Selling, general and administrative less than 100,000 thousands?",
"What is the percentage of revenue in 2019 and 2018?"
] |
[
[
"The increase in selling, general and administrative in fiscal 2019 compared to fiscal 2018 was primarily due to higher variable costs on increased sales volumes"
],
[
"Which year are you asking about?"
],
[
"99,254",
"95,489"
],
[
"97371.5"
],
[
"102794.5"
],
[
"2018",
"2017"
],
[
"18.0",
"18.7",
""
]
] |
[
[
"($ in millions)",
"",
"",
""
],
[
"Reporting Segment",
"Fiscal 2018 Net Sales",
"Fiscal 2017 Net Sales",
"% Inc (Dec)"
],
[
"Grocery & Snacks",
"$3,287.0",
"$3,208.8",
"2%"
],
[
"Refrigerated & Frozen",
"2,753.0",
"2,652.7",
"4%"
],
[
"International",
"843.5",
"816.0",
"3%"
],
[
"Foodservice",
"1,054.8",
"1,078.3",
"(2)%"
],
[
"Commercial",
"—",
"71.1",
"(100)%"
],
[
"Total",
"$7,938.3",
"$7,826.9",
"1%"
]
] |
[
"Fiscal 2018 compared to Fiscal 2017",
"Net Sales",
"Overall, our net sales were $7.94 billion in fiscal 2018, an increase of 1% compared to fiscal 2017.",
"Grocery & Snacks net sales for fiscal 2018 were $3.29 billion, an increase of $78.2 million, or 2%, compared to fiscal 2017. Results reflected a decrease in volumes of approximately 2% in fiscal 2018 compared to the prior-year period, excluding the impact of acquisitions. The decrease in sales volumes reflected a reduction in promotional intensity, planned discontinuation of certain lower-performing products, retailer inventory reductions, which were higher than anticipated, and deliberate actions to optimize distribution on certain lower-margin products, consistent with the Company's value over volume strategy. Price/ mix was flat compared to the prior-year period as favorable mix improvements from recent innovation and higher net pricing nearly offset continued investments in retailer marketing to drive brand saliency, enhanced distribution, and consumer trial. The acquisition of Angie's Artisan Treats, LLC contributed $68.1 million to Grocery & Snacks net sales during fiscal 2018. The Frontera acquisition contributed $8.6 million and the Thanasi acquisition contributed $66.5 million to Grocery & Snacks net sales during fiscal 2018 through the one-year anniversaries of the acquisitions. The Frontera and Thanasi acquisitions occurred in September 2016 and April 2017, respectively.",
"Refrigerated & Frozen net sales for fiscal 2018 were $2.75 billion, an increase of $100.3 million, or 4%, compared to fiscal 2017. Results for fiscal 2018 reflected a 3% increase in volume compared to fiscal 2017, excluding the impact of 31 acquisitions. The increase in sales volumes was a result of brand renovation and innovation launches. Price/mix was flat compared to fiscal 2017, as favorability in both net pricing and mix offset continued investment in retailer marketing to drive brand saliency, enhanced distribution, and consumer trial. The acquisition of the Sandwich Bros. of Wisconsin® business contributed $21.3 million to Refrigerated & Frozen's net sales during fiscal 2018. The Frontera acquisition, which occurred in September 2016, and subsequent innovation in the Frontera® brand contributed $4.4 million during fiscal 2018 through the one-year anniversary of the acquisition.",
"International net sales for fiscal 2018 were $843.5 million, an increase of $27.5 million, or 3%, compared to fiscal 2017. Results for fiscal 2018 reflected a 3% decrease in volume, a 3% increase due to foreign exchange rates, and a 3% increase in price/mix, in each case compared to fiscal 2017. The volume decrease for fiscal 2018 was driven by strategic decisions to eliminate lower margin products and to reduce promotional intensity. The increase in price/mix compared to the prior-year period was driven by improvements in pricing and trade productivity.",
"Foodservice net sales for fiscal 2018 were $1.05 billion, a decrease of $23.5 million, or 2%, compared to fiscal 2017. Results for fiscal 2018 reflected an 11% decrease in volume, partially offset by a 9% increase in price/mix compared to fiscal 2017. The decrease in volumes compared to the prior year primarily reflected the impact of exiting a non-core business, the planned discontinuation of certain lower-performing businesses, and softness in certain categories. The increase in price/mix for fiscal 2018 reflected favorable product and customer mix, the impact of inflation-driven increases in pricing, and the execution of the segment's value over volume strategy.",
"In the first quarter of fiscal 2017, we divested our Spicetec and JM Swank businesses. These businesses comprise the entire Commercial segment following the presentation of Lamb Weston as discontinued operations. Accordingly, there were no net sales in the Commercial segment after the first quarter of fiscal 2017. These businesses had net sales of $71.1 million in fiscal 2017 prior to the completion of the divestitures."
] |
[
"When did the Frontera acquisition occur?",
"What drove the volume decrease in the International segment for the fiscal year 2018? ",
"What was the net sales of in the fiscal year 2018 and 2017, respectively?",
"Foodservice",
"What is the percentage change in total net sales of International and Refrigerated & Frozen in that period?",
"What is the proportion (in percentage) of sales from innovation in the Frontera brand over Refrigerated & Frozen’s net sales?",
"In the fiscal year 2018.",
"How about the sales from the Frontera acquisition and Thanasi acquisition over Grocery & Snacks's net sales in that year?"
] |
[
[
"September 2016"
],
[
"strategic decisions to eliminate lower margin products and to reduce promotional intensity"
],
[
"Which segment are you asking about?"
],
[
"1,054.8",
"1,078.3"
],
[
"3.68"
],
[
"Which year are you asking about?"
],
[
"0.16"
],
[
"2.28"
]
] |
[
[
"",
"Years ended December 31,",
""
],
[
"",
"2019",
"2018"
],
[
"Deferred license fees revenues",
"$28",
"$-"
],
[
"Deferred NRE revenues",
"20",
"-"
],
[
"Deferred AirBar revenues",
"6",
"59"
],
[
"Deferred sensor modules revenues",
"13",
"16"
],
[
"",
"$67",
"$75"
]
] |
[
"Deferred Revenues",
"Deferred revenues consist primarily of prepayments for license fees, and other products or services for which we have been paid in advance, and earn the revenue when we transfer control of the product or service. Deferred revenues may also include upfront payments for consulting services to be performed in the future, such as non-recurring engineering services.",
"We defer license fees until we have met all accounting requirements for revenue recognition, which is when a license is made available to a customer and that customer has a right to use the license. Engineering development fee revenues are deferred until engineering services have been completed and accepted by our customers. We defer AirBar and sensor modules revenues until distributors sell the products to their end customers",
"Under U.S. GAAP, companies may make reasonable aggregations and approximations of returns data to accurately estimate returns. Our AirBar and sensor module returns and warranty experience to date has enabled us to make reasonable returns estimates, which are supported by the fact that our product sales involve homogenous transactions. The reserve for future sales returns is recorded as a reduction of our accounts receivable and revenue and was insignificant as of December 31, 2019 and 2018.",
"The following table presents our deferred revenues by source (in thousands);"
] |
[
"What do deferred revenues primarily consist of? ",
"How does the reserve for future sales returns being recorded?",
"How much was the deferred revenues for the year ended December 31, 2018, and 2019, respectively?",
"The deferred AirBar revenues.",
"What is the percentage change of deferred sensor module revenues in that period?",
"What are the total deferred revenues for both 2018 and 2019?",
"What is the proportion of deferred license fees and NRE revenues over total deferred revenues?",
"For the year ended December 31, 2019."
] |
[
[
"prepayments for license fees, and other products or services for which we have been paid in advance, and earn the revenue when we transfer control of the product or service"
],
[
"as a reduction of our accounts receivable"
],
[
"14"
],
[
"59",
"6"
],
[
"-18.75"
],
[
"142"
],
[
"Which year are you asking about?"
],
[
"0.72"
]
] |
[
[
"€ million",
"2017/2018",
"2018/2019"
],
[
"Current service cost1",
"24",
"21"
],
[
"Net interest expenses2",
"11",
"9"
],
[
"Past service cost (incl. curtailments and changes)",
"0",
"0"
],
[
"Settlements",
"0",
"0"
],
[
"Other pension expenses",
"1",
"1"
],
[
"Pension expenses",
"36",
"31"
]
] |
[
"The pension expenses of the direct and indirect company pension plan commitments can be broken down as follows:",
"1 Netted against employees’ contributions.",
"2 Included therein: Interest effect from the adjustment of the asset ceiling.",
"The entire loss to be recognised outside of profit or loss in the other comprehensive income amounts to €90 million in financial year 2018/19. This figure is comprised of the effect from the change in actuarial parameters in the amount of €+247 million and the experience-based adjustments of €+4 million. It was offset by income from plan assets of €103 million and a gain of €58 million resulting from the change in the effect of the asset ceiling in the Netherlands.",
"In addition to expenses from defined benefit commitments, expenses for payments to external pension providers relating to defined contribution pension commitments of €82 million in financial year 2018/19 (2017/18: €82 million) were recorded. These figures also include payments to statutory pension insurance.",
"The provisions for obligations similar to pensions essentially comprise commitments from employment anniversary allowances, death benefits and partial retirement plans. Provisions amounting to €34 million (30/9/2018: €41 million) were allocated for these commitments. The commitments are valued on the basis of actuarial expert opinions. The valuation parameters used for this purpose are generally determined in the same way as for the company pension plan."
] |
[
"What was the current service cost netted against?",
"What was included therein within the net interest expenses?",
"For which years were the pension expenses of the direct and indirect company pension plan commitments recorded in?",
"In which year were the expenses larger?",
"The pension expenses.",
"What was the change in that in FY2019 from FY2018?",
"How about its percentage change?"
] |
[
[
"employees’ contributions"
],
[
"Interest effect from the adjustment of the asset ceiling"
],
[
"2018",
"2019"
],
[
"Which expense are you asking about?"
],
[
"2018"
],
[
"-5"
],
[
"-13.89"
]
] |
[
[
"",
"2019",
"2018"
],
[
"",
"$’000",
"$’000"
],
[
"Dividends paid during the year (net of dividend re-investment)",
"",
""
],
[
"4 cent per share final dividend paid 27 September 2018 – fully franked1",
"7,319",
""
],
[
"3 cent per share final dividend paid 30 September 2017 – fully franked",
"",
"5,175"
],
[
"3 cent per share interim dividend paid 29 March 2019 – fully franked",
"5,318",
""
],
[
"3 cent per share interim dividend paid 29 March 2018 – fully franked",
"",
"5,217"
],
[
"",
"12,637",
"10,392"
],
[
"Proposed dividend not recognised at the end of the year",
"5,922",
"7,865"
],
[
"Dividends franking account",
"",
""
],
[
"30% franking credits, on a tax paid basis, are available to shareholders of Hansen Technologies Ltd for subsequent financial years",
"1,586",
"3,125"
]
] |
[
"20. DIVIDENDS",
"A regular dividend of 3 cents per share has been declared. This final dividend of 3 cents per share, partially franked to 2.6 cents per share, was announced to the market on 23 August 2019. The amount declared has not been recognised as a liability in the accounts of Hansen Technologies Ltd as at 30 June 2019.",
"1. The final dividend paid of 4 cents per share, franked to 4 cents, comprised of an ordinary dividend of 3 cents per share, together with a special dividend of 1 cent per share.",
"The above available amounts are based on the balance of the dividend franking account at year end adjusted for: • franking credits that will arise from the payment of any current tax liability; • franking debits that will arise from the payment of any dividends recognised as a liability at year end; • franking credits that will arise from the receipt of any dividends recognised as receivables at year end; and • franking credits that the entity may be prevented from distributing in subsequent years."
] |
[
"How much was the partially franked dividendper share?",
"What was the 2019 percentage change of dividends paid between 2018 and 2019 financial years?",
"What was the percentage change in franking credits in that period?",
"How many proposed dividends were not recognised at the end of both years?",
"How much was the regular dividend per share?",
"What was the final dividend of 4 cents per share comprised of?"
] |
[
[
"This final dividend of 3 cents per share, partially franked to 2.6 cents per share"
],
[
"21.6"
],
[
"-49.25"
],
[
"13787"
],
[
"3 cents per share"
],
[
"1. The final dividend paid of 4 cents per share, franked to 4 cents, comprised of an ordinary dividend of 3 cents per share, together with a special dividend of 1 cent per share."
]
] |
[
[
"",
"Fiscal Year Ended",
"",
"",
"Quarter Ended",
"",
""
],
[
"(Amounts in thousands)",
"June 1, 2019",
"June 2, 2018",
"Percent Change",
"June 1, 2019",
"June 2, 2018",
"Percent Change"
],
[
"Cost of sales:",
"",
"",
"",
"",
"",
""
],
[
"Farm production",
"$ 635,797",
"$ 603,887",
"5.3 %",
"$ 162,142",
"$ 155,471",
"4.3%"
],
[
"Processing and packaging",
"222,765",
"214,078",
"4.1%",
"55,584",
"53,734",
"3.4%"
],
[
"Outside egg purchases and other",
"249,605",
"287,472",
"(13.2)%",
"44,509",
"81,623",
"(45.5)%"
],
[
"Total shell eggs",
"1,108,167",
"1,105,437",
"0.2 %",
"262,235",
"290,828",
"(9.8)%"
],
[
"Egg products",
"29,020",
"35,551",
"(18.4)%",
"5,139",
"10,743",
"(52.2)%"
],
[
"Other",
"1,142",
"898",
"27.2%",
"444",
"308",
"44.2%"
],
[
"Total",
"$1,138,329",
"$1,141,886",
"(0.3)%",
"$267,818",
"$301,879",
"(11.3)%"
],
[
"Farm production cost (per dozen produced)",
"",
"",
"",
"",
"",
""
],
[
"Feed",
"$0.415",
"$0.394",
"5.3%",
"$0.411",
"$0.416",
"(1.2)%"
],
[
"Other",
"0.319",
"0.303",
"5.3%",
"0.328",
"0.311",
"5.5%"
],
[
"Total",
"$0.734",
"$0.697",
"5.3%",
"$0.739",
"$0.727",
"1.7%"
],
[
"Outside egg purchases (average cost per dozen)",
"$1.26",
"$1.45",
"(13.1)%",
"$1.05",
"$1.82",
"(42.3)%"
],
[
"Dozen produced",
"876,705",
"873,307",
"0.4%",
"222,625",
"215,729",
"3.2%"
],
[
"Dozen sold",
"1,038,900",
"1,037,713",
"0.1%",
"254,772",
"251,955",
"1.1%"
]
] |
[
"COST OF SALES",
"Cost of sales consists of costs directly related to producing, processing and packing shell eggs, purchases of shell eggs\nfrom outside producers, processing and packing of liquid and frozen egg products and other non-egg costs. Farm\nproduction costs are those costs incurred at the egg production facility, including feed, facility, hen amortization, and\nother related farm production costs. The following table presents the key variables affecting our cost of sales:",
"Cost of sales for the fiscal year ended June 1, 2019 was $1,138.3 million, a decrease of $3.6 million, or 0.3%, compared to $1,141.9 million for fiscal 2018. Comparing fiscal 2019 to fiscal 2018, average cost per dozen purchased from outside shell egg producers decreased while cost of feed ingredients and dozens produced increased. For the 2019 fiscal year we produced 84.4% of the eggs sold by us, as compared to 84.2% for the previous year. Feed cost for fiscal 2019 was $0.415 per dozen, compared to $0.394 per dozen for the prior fiscal year, an increase of 5.3%. The increase in feed costs was primarily related to less favorable crop conditions in the south central U. S., which resulted in higher ingredient prices at some of our larger feed mill operations. The increase in feed cost per dozen resulted in an increase in cost of sales of $18.4 million for fiscal 2019 compared with fiscal 2018.",
"For the thirteen weeks ended June 1, 2019, compared to the thirteen weeks ended June 2, 2018, cost of sales decreased $34.1 million, or 11.3%, from $301.9 million in the fourth quarter of fiscal 2018, to $267.8 million in the fourth quarter of fiscal 2019. Average cost per dozen purchased from outside shell egg producers decreased 42.3% due to significantly lower egg selling prices in the quarter. Feed cost per dozen for the fourth quarter of fiscal 2019 was $0.411, compared to $0.416 for the same quarter of fiscal 2018, a decrease of 1.2%.",
"Gross profit, as a percentage of net sales, was 16.4% for fiscal 2019, compared to 24.0% for fiscal 2018. The decrease resulted primarily from lower selling prices for non-specialty eggs."
] |
[
"What was the reason for increase in feed costs in 2019?",
"What was the rationale of decrease in average cost per dozen purchased from outside shell egg producers?",
"What is the farm production cost as a percentage of total cost?",
"In year ended 2019.",
"How about the Egg products?",
"What was the increase / (decrease) in dozen in 2019 compared to 2018? ",
"Dozen produced.",
"What is the cost of sales per dozen produced in year ended 2019?"
] |
[
[
"increase in feed costs was primarily related to less favorable crop conditions in the south central U. S., which resulted in higher ingredient prices at some of our larger feed mill operations."
],
[
"due to significantly lower egg selling prices in the quarter"
],
[
"Which year are you asking about?"
],
[
"55.85"
],
[
"2.55"
],
[
"What kind of dozen are you asking about?"
],
[
"0.4%"
],
[
"1.3"
]
] |
[
[
"",
"December 31,",
""
],
[
"(In millions)",
"2019",
"2018"
],
[
"Accruals not yet deductible for tax purposes",
"$ 17.4",
"$ 17.5"
],
[
"Net operating loss carryforwards",
"245.9",
"265.5"
],
[
"Foreign, federal and state credits",
"8.4",
"10.4"
],
[
"Employee benefit items",
"79.5",
"77.0"
],
[
"Capitalized expenses",
"32.2",
"8.9"
],
[
"Intangibles",
"21.8",
"—"
],
[
"Derivatives and other",
"47.7",
"38.0"
],
[
"Sub-total deferred tax assets",
"452.9",
"417.3"
],
[
"Valuation allowance",
"(197.6)",
"(218.4)"
],
[
"Total deferred tax assets",
"$ 255.3",
"$ 198.9"
],
[
"Depreciation and amortization",
"$ (37.0)",
"$ (26.8)"
],
[
"Unremitted foreign earnings",
"(10.0)",
"—"
],
[
"Intangible assets",
"—",
"(21.7)"
],
[
"Other",
"(0.4)",
"(0.4)"
],
[
"Total deferred tax liabilities",
"(47.4)",
"(48.9)"
],
[
"Net deferred tax assets",
"$ 207.9",
"$ 150.0"
]
] |
[
"Deferred tax assets (liabilities) consist of the following:",
"A valuation allowance has been provided based on the uncertainty of utilizing the tax benefits, mainly related to the following deferred tax assets: • $183.4 million of foreign items, primarily net operating losses; and • $7.7 million of state tax credits.",
"For the year ended December 31, 2019, the valuation allowance decreased by $20.8 million. This is primarily driven by our Reinvent SEE initiatives and decreases in foreign tax rates.",
"As of December 31, 2019, we have foreign net operating loss carryforwards of $899.4 million expiring in years beginning in 2020 with the majority of losses having an unlimited carryover. The state net operating loss carryforwards totaling $569.3 million expire in various amounts over 1 to 19 years."
] |
[
"Of deferred tax assets, how much state tax credits were there?",
"What does the table show?",
"How much did the valuation allowance decrease by in 2019?",
"What is the percentage of deferred tax assets in foreign items to valuation allowance in that year?",
"What is the value of deferred tax assets as a percentage of Net deferred tax assets for 2019?",
"The Sub-total deferred tax assets.",
"What is the percentage change of Net deferred tax assets?",
"From 2018 to 2019."
] |
[
[
"$7.7 million"
],
[
"Deferred tax assets"
],
[
"$20.8 million"
],
[
"92.81"
],
[
"Which asset are you asking about?"
],
[
"217.85"
],
[
"Which period are you asking about?"
],
[
"38.6"
]
] |
[
[
"",
"December 31,",
""
],
[
"",
"2018",
"2019"
],
[
"Balance January 1",
"6,562",
"7,955"
],
[
"Charged to cost of sales",
"18,408",
"26,301"
],
[
"Deductions",
"(8,985)",
"(12,232)"
],
[
"Releases of expired warranty",
"(8,214)",
"(5,684)"
],
[
"Foreign currency translation effect",
"184",
"84"
],
[
"Balance December 31",
"7,955",
"16,424"
]
] |
[
"NOTE 14. PROVISION FOR WARRANTY",
"The changes in the amount of provision for warranty are as follows:",
"Costs of warranty include the cost of labor and materials to repair a product during the warranty period. The main term of the warranty period is one year. The Company accrues for the estimated cost of the warranty on its products shipped in the provision for warranty, upon recognition of the sale of the product. The costs are estimated based on actual historical expenses incurred and on estimated future expenses related to current sales, and are updated periodically. Actual warranty costs are charged against the provision for warranty."
] |
[
"What does cost of warranty include?",
"How are warranty costs estimated?",
"For what years are the costs of warranty information provided?",
"Which year had a larger difference in the balance between the start and the end of the year?",
"What is its percentage change from 2018 to 2019?",
"At the end of year.",
"What is the change in balance at start of year in that period?"
] |
[
[
"the cost of labor and materials to repair a product during the warranty period"
],
[
"based on actual historical expenses incurred and on estimated future expenses related to current sales, and are updated periodically"
],
[
"2018",
"2019"
],
[
"2019"
],
[
"Which date are you asking for?"
],
[
"106.46"
],
[
"1393"
]
] |
[
[
"",
"",
"Net additions (losses)",
""
],
[
"",
"",
"Three months ended August 31,",
""
],
[
"",
"August 31,",
"",
""
],
[
"",
"2019",
"2019",
"2018"
],
[
"Primary service units",
"901,446",
"7,431",
"2,797"
],
[
"Internet service customers",
"446,137",
"2,441",
"4,693"
],
[
"Video service customers",
"312,555",
"5,294",
"(3,046)"
],
[
"Telephony service customers",
"142,754",
"(304)",
"1,150"
]
] |
[
"CUSTOMER STATISTICS",
"INTERNET Fiscal 2019 fourth-quarter Internet service customers net additions stood at 2,441 compared to 4,693 for the same period of the prior year as a result of: • additional connects related to the Florida expansion initiatives and in the MetroCast footprint; • our customers' ongoing interest in high speed offerings; and • growth in both the residential and business sectors.",
"VIDEO Fiscal 2019 fourth-quarter video service customers net additions stood at 5,294 compared to net losses of 3,046 for the same period of the prior year mainly from: • the activation of bulk properties in Florida during the fourth quarter of fiscal 2019; and • our customers' ongoing interest in TiVo's digital advanced video services; partly offset by • competitive offers in the industry; and • a changing video consumption environment.",
"TELEPHONY Fiscal 2019 fourth-quarter telephony service customers net losses stood at 304 compared to net additions of 1,150 for the same period of the prior year mainly as a result of a decline in the residential sector, partly offset by growth in the business sector. TELEPHONY Fiscal 2019 fourth-quarter telephony service customers net losses stood at 304 compared to net additions of 1,150 for the same period of the prior year mainly as a result of a decline in the residential sector, partly offset by growth in the business sector."
] |
[
"What were the total number of customers net additions in fourth quarter 2019? ",
"The internet service customers.",
"How about the video service customers?",
"How about the telephony service customers net losses?",
"What was the increase / (decrease) in Net additions (losses) for the Primary service units?",
"From 31 Aug 2018 to 31 Aug 2019.",
"What was the average Net additions (losses) for internet service customers?",
"How about video service customers?"
] |
[
[
"What kind of customers are you asking about?"
],
[
"2,441"
],
[
"5,294"
],
[
"304"
],
[
"Which period are you asking about?"
],
[
"4634"
],
[
"3567"
],
[
"1124"
]
] |
[
[
"",
"",
"Three Months Ended",
"",
"Variation",
""
],
[
"",
"December 31, 2019",
"September 29, 2018",
"December 31, 2018",
"Sequential",
"Year-Over-Year"
],
[
"",
"",
"(Unaudited, in millions)",
"",
"",
""
],
[
"Gross profit",
"$ 1,081",
"$ 967",
"$ 1,059",
"11.8%",
"2.0%"
],
[
"Gross margin (as percentage of net revenues)",
"39.3%",
"37.9%",
"40.0%",
"+140 bps",
"-70 bps"
]
] |
[
"Fourth quarter gross profit was $1,081 million and gross margin was 39.3%. On a sequential basis, gross margin increased 140 basis points, mainly driven by improved product mix and better manufacturing efficiencies.",
"Gross margin decreased 70 basis points year-over-year, mainly impacted by price pressure and unsaturation charges, partially offset by improved manufacturing efficiencies, better product mix and favorable currency effects, net of hedging."
] |
[
"What led to the increase in the gross margin on a sequential basis?",
"How much did the gross margin increase on a sequential basis",
"What led to the decrease in the gross margin year-over-year",
"What is the average Gross profit?",
"For the period December 31, 2019 and 2018.",
"How about Gross margin for that period?",
"What is the increase/ (decrease) in Gross profit in that period?"
] |
[
[
"mainly driven by improved product mix and better manufacturing efficiencies."
],
[
"140 basis points"
],
[
"mainly impacted by price pressure and unsaturation charges, partially offset by improved manufacturing efficiencies, better product mix and favorable currency effects, net of hedging."
],
[
"Which period are you asking about?"
],
[
"1070"
],
[
"39.65"
],
[
"22"
]
] |
[
[
"",
"Number of shares",
"Weighted-Average Grant Date Fair Value"
],
[
"Unvested RSUs at December 31, 2018",
"10,623",
"$40.39"
],
[
"Granted",
"4,426",
"45.55"
],
[
"Vested",
"(2,758)",
"47.86"
],
[
"Forfeited",
"(2,963)",
"54.61"
],
[
"Unvested RSUs at December 31, 2019",
"9,328",
"$32.60"
]
] |
[
"RSU Activity We grant RSUs, which represent the right to receive shares of our common stock. Vesting for RSUs is contingent upon the holders’ continued employment with us and may be subject to other conditions (which may include the satisfaction of a performance measure). Also, certain of our performance-based RSUs include a range of shares that may be released at vesting which are above or below the targeted number of RSUs based on actual performance relative to the grant date performance measure. If the vesting conditions are not met, unvested RSUs will be forfeited. Upon vesting of the RSUs, we may withhold shares otherwise deliverable to satisfy tax withholding requirements.",
"The following table summarizes our RSU activity with performance-based RSUs presented at the maximum potential shares that could be earned and issued at vesting (amounts in thousands except per share amounts):",
"Certain of our performance-based RSUs did not have an accounting grant date as of December 31, 2019, as there is not a mutual understanding between the Company and the employee of the performance terms. Generally, these performance terms relate to operating income performance for future years where the performance goals have not yet been set. As of December 31, 2019, there were 3.2 million performance-based RSUs outstanding for which the accounting grant date has not been set, of which 1.9 million were 2019 grants. Accordingly, no grant date fair value was established and the weighted average grant date fair value calculated above for 2019 grants excludes these RSUs.",
"At December 31, 2019, approximately $96 million of total unrecognized compensation cost was related to RSUs and is expected to be recognized over a weighted-average period of 1.64 years. Of the total unrecognized compensation cost, $50 million was related to performance-based RSUs, which is expected to be recognized over a weighted-average period of 1.63 years. The total grant date fair value of vested RSUs was $147 million, $120 million and $64 million for the years ended December 31, 2019, 2018, and 2017, respectively.",
"The income tax benefit from stock option exercises and RSU vestings was $47 million, $94 million, and $160 million for the years ended December 31, 2019, 2018, and 2017, respectively."
] |
[
"What was the income tax benefit from stock option exercises and RSU vestings?",
"2017",
"What was the total grant date fair value of vested RSUs?",
"2018",
"How about that in 2019?",
"What is the change in the number of RSUs between 2018 and 2019?",
"Unvested RSUs.",
"What is the difference in the weighted-average grant date fair value between granted and vested RSUs?",
"How about that between granted and forfeited RSUs?"
] |
[
[
"Which year are you asking about?"
],
[
"$160 million"
],
[
"Which year are you asking about?"
],
[
"$120 million"
],
[
"$147 million"
],
[
"What kind of RSUs are you asking for?"
],
[
"-1295"
],
[
"2.31"
],
[
"9.06"
]
] |
[
[
"",
"",
"Year ended December 31",
""
],
[
"",
"2019",
"2018",
"2017"
],
[
"Expected life (in years)",
"0.5",
"0.5",
"0.5"
],
[
"Volatility",
"36% - 37%",
"33% - 40%",
"29% - 37%"
],
[
"Risk-free interest rate",
"1.58 - 2.43%",
"1.76% - 2.50%",
"0.76% - 1.16%"
],
[
"Dividend yield",
"- %",
"- %",
"- %"
]
] |
[
"The fair value of the option component of the ESPP shares was estimated at the grant date using the Black-Scholes option pricing model with the following weighted\naverage assumptions:",
"The Company issued 266 shares, 231 shares and 183 shares under the ESPP in the years ended December 31, 2019, 2018 and 2017, respectively, at a weighted average\nexercise price per share of $86.51, $77.02, and $73.02, respectively. As of December 31, 2019, the Company expects to recognize $3,531 of the total unamortized compensation cost\nrelated to employee purchases under the ESPP over a weighted average period of 0.37 years."
] |
[
"What is the total unamortized compensation cost related to employee purchases under the ESPP the company expects to recognise as of December 31, 2019?",
"What is the percentage change in that between 2018 and 2019?",
"What is the number of shares issued in the years ended December 31, 2017 to 2019 respectively?",
"What is the total shares issued under the ESPP in this period?",
"What is the expected life (in years) of the option component of the ESPP shares in each of the years ended December 31, 2019?",
"What is the average volatility of the fair value of that component as at December 31, 2019?"
] |
[
[
"$3,531"
],
[
"12.32"
],
[
"$73.02",
"$77.02",
"$86.51"
],
[
"680"
],
[
"0.5",
"0.5",
"0.5"
],
[
"36.5"
]
] |
[
[
"",
"Americas 2018 Exit Plan",
"Americas 2019 Exit Plan"
],
[
"Lease obligations and facility exit costs (1)",
"$7,073",
"$—"
],
[
"Severance and related costs (2)",
"3,426",
"191"
],
[
"Severance and related costs (1)",
"1,037",
"2,155"
],
[
"Non-cash impairment charges",
"5,875",
"1,582"
],
[
"Other non-cash charges",
"—",
"244"
],
[
"",
"$17,411",
"$4,172"
]
] |
[
"Americas 2019 Exit Plan",
"During the first quarter of 2019, the Company initiated a restructuring plan to simplify and refine its operating model in the U.S. (the “Americas 2019 Exit Plan”), in part to improve agent attrition and absenteeism. The Americas 2019 Exit Plan included closing customer engagement centers, consolidating leased space in various locations in the U.S. and management reorganization. The Company finalized the actions as of September 30, 2019.",
"Americas 2018 Exit Plan",
"During the second quarter of 2018, the Company initiated a restructuring plan to manage and optimize capacity utilization, which included closing customer engagement centers and consolidating leased space in various locations in the U.S. and Canada (the “Americas 2018 Exit Plan”). The Company finalized the site closures under the Americas 2018 Exit Plan as of December 31, 2018, resulting in a reduction of 5,000 seats.",
"The Company’s actions under both the Americas 2018 and 2019 Exit Plans resulted in general and administrative cost savings and lower depreciation expense.",
"The cumulative costs incurred to date related to cash and non-cash expenditures resulting from the Americas 2018 and 2019 Exit Plans are outlined below as of December 31, 2019 (in thousands):",
"(1) Included in “General and administrative” costs in the accompanying Consolidated Statements of Operations.",
"(2) Included in “Direct salaries and related costs” in the accompanying Consolidated Statements of Operations.",
"The Company has paid a total of $12.3 million in cash through December 31, 2019, of which $10.4 million related to the Americas 2018 Exit Plan and $1.9 million related to the Americas 2019 Exit Plan."
] |
[
"How much has the Company paid in total in 2019?",
"Where are the Severance and related costs included in the accompanying Consolidated Statements of Operations?",
"For which years is the Americas Exit Plan accounted for?",
"In which year was charges larger?",
"Non-cash impairment charges.",
"What was its change in 2019 from 2018?",
"How about its percentage change?"
] |
[
[
"a total of $12.3 million in cash through December 31, 2019, of which $10.4 million related to the Americas 2018 Exit Plan and $1.9 million related to the Americas 2019 Exit Plan."
],
[
"General and administrative",
"Direct salaries and related costs"
],
[
"2019",
"2018"
],
[
"What kind of charges are you asking about?"
],
[
"2018"
],
[
"-4293"
],
[
"-73.07"
]
] |
[
[
"Name",
"Age",
"Position (s)"
],
[
"Garo H. Armen",
"67",
"Executive Chairman of the Board of Directors"
],
[
"Alexander K. Arrow",
"49",
"Chief Financial Officer"
],
[
"Robert B. Stein",
"69",
"Director"
],
[
"Khalil Barrage",
"55",
"Director"
],
[
"Brian J. Corvese",
"62",
"Director"
],
[
"Josh Silverman",
"49",
"Director"
]
] |
[
"Item 10. Directors, Executive Officers and Corporate Governance.",
"Executive Officers and Directors",
"The following sets forth certain information with respect to our executive officers and directors..",
"Garo H. Armen, PhD, Executive Chairman, is one of our founders and joined us in September 2004. Garo H. Armen is Chairman and Chief Executive Officer of Agenus\nInc., a biotechnology company he co-founded in 1994. From mid-2002 through 2004, he also served as Chairman of the Board of the biopharmaceutical company Elan\nCorporation, plc, which he successfully restructured. Prior to Agenus Inc., Dr. Armen established Armen Partners, a money management firm specializing in biotechnology and\npharmaceutical companies and was the architect of the widely publicized creation of the Immunex Lederle oncology business in 1993. Earlier, he was a senior vice president of\nresearch at Dean Witter Reynolds, having begun his career on Wall Street as an analyst and investment banker at EF Hutton. In 2002, Dr. Armen founded the Children of\nArmenia Fund, a nonprofit organization dedicated to significantly rebuilding and revitalizing impoverished rural Armenian towns to provide immediate and sustainable benefits\nto children and youth. He received the Ellis Island Medal of Honor in 2004 for his humanitarian efforts, and received the Sabin Humanitarian Award from the Sabin Vaccine\nInstitute in 2006 for his achievements in biotechnology and progressing medical research. Dr. Armen was also the Ernst & Young 2002 New York City Biotechnology\nEntrepreneur of the Year, and received a Wings of Hope Award in 2005 from The Melanoma Research Foundation for his ongoing commitment to the melanoma community. Dr.\nArmen received a PhD in physical chemistry from the Graduate Center, City University of New York, after which he worked as a research fellow at Brookhaven National\nLaboratories in Long Island, NY. Dr. Armen brings to our Board a deep historical and practical knowledge of the business of the Company and its technologies, as well as\nyears of expertise in the financial and biopharmaceutical arenas."
] |
[
"When did the Executive Chairman join the company?",
"Who is him?",
"Who is the Chief Financial Officer of the company?",
"How many directors are there in the company?",
"What is the average age of them?",
"Who is the oldest director among them?"
] |
[
[
"September 2004"
],
[
"Garo H. Armen"
],
[
"Alexander K. Arrow"
],
[
"4"
],
[
"58.75"
],
[
"Robert B. Stein"
]
] |
[
[
"",
"For the Years Ended December 31,",
""
],
[
"",
"2019",
"2018"
],
[
"Reconciliation to consolidated net revenues:",
"",
""
],
[
"Segment net revenues",
"$5,969",
"$6,835"
],
[
"Revenues from non-reportable segments (1)",
"462",
"480"
],
[
"Net effect from recognition (deferral) of deferred net revenues (2)",
"101",
"238"
],
[
"Elimination of intersegment revenues (3)",
"(43)",
"(53)"
],
[
"Consolidated net revenues",
"$6,489",
"$7,500"
],
[
"Reconciliation to consolidated income before income tax expense:",
"",
""
],
[
"Segment operating income",
"$2,054",
"$2,446"
],
[
"Operating income (loss) from non-reportable segments (1)",
"24",
"31"
],
[
"Net effect from recognition (deferral) of deferred net revenues and related cost of revenues (2)",
"52",
"100"
],
[
"Share-based compensation expense",
"(166)",
"(209)"
],
[
"Amortization of intangible assets",
"(203)",
"(370)"
],
[
"Restructuring and related costs (4)",
"(137)",
"(10)"
],
[
"Discrete tax-related items (5)",
"(17)",
"—"
],
[
"Consolidated operating income",
"1,607",
"1,988"
],
[
"Interest and other expense (income), net",
"(26)",
"71"
],
[
"Loss on extinguishment of debt",
"—",
"40"
],
[
"Consolidated income before income tax expense",
"$1,633",
"$1,877"
]
] |
[
"Reconciliations of total segment net revenues and total segment operating income to consolidated net revenues and consolidated income before income tax expense are presented in the table below (amounts in millions):",
"(1) Includes other income and expenses from operating segments managed outside the reportable segments, including our Distribution business. Also includes unallocated corporate income and expenses.",
"(2) Since certain of our games are hosted online or include significant online functionality that represents a separate performance obligation, we defer the transaction price allocable to the online functionality from the sale of these games and then recognize the attributable revenues over the relevant estimated service periods, which are generally less than a year. The related cost of revenues is deferred and recognized as an expense as the related revenues are recognized. This table reflects the net effect from the deferrals of revenues and recognition of deferred revenues, along with the related cost of revenues, on certain of our online enabled products.",
"(3) Intersegment revenues reflect licensing and service fees charged between segments.",
"(4) Reflects restructuring initiatives, which include severance and other restructuring-related costs.",
"(5) Reflects the impact of other unusual or unique tax‑related items and activities."
] |
[
"What does intersegment revenues reflect?",
"What is the operating income in 2019?",
"The segment operating income.",
"What is the segment net revenues in 2018?",
"What is its percentage change between 2018 and 2019?",
"How about the segment operating income?",
"What is the change in revenues from non-reportable segments in that period?"
] |
[
[
"licensing and service fees charged between segments."
],
[
"What kind of operating income are you asking about?"
],
[
"$2,054"
],
[
"$6,835"
],
[
"-12.67"
],
[
"-16.03"
],
[
"-18"
]
] |
[
[
"",
"",
"For the Years Ended December 31,",
"",
""
],
[
"",
"2019",
"2018",
"Increase/ (decrease)",
"% Change"
],
[
"Net revenues by distribution channel:",
"",
"",
"",
""
],
[
"Digital online channels (1)",
"$4,932",
"$5,786",
"$(854)",
"(15)%"
],
[
"Retail channels",
"909",
"1,107",
"(198)",
"(18)"
],
[
"Other (2)",
"648",
"607",
"41",
"7"
],
[
"Total consolidated net revenues",
"$6,489",
"$7,500",
"$(1,011)",
"(13)"
]
] |
[
"Consolidated Results",
"Net Revenues by Distribution Channel",
"The following table details our consolidated net revenues by distribution channel (amounts in millions):",
"(1) Net revenues from “Digital online channels” include revenues from digitally-distributed subscriptions, downloadable content, microtransactions, and products, as well as licensing royalties.",
"(2) Net revenues from “Other” primarily includes revenues from our Distribution business and the Overwatch League.",
"Digital Online Channel Net Revenues The decrease in net revenues from digital online channels for 2019, as compared to 2018, was primarily due to: • lower revenues recognized from the Destiny franchise (reflecting our sale of the publishing rights for Destiny to Bungie in December 2018); and • lower revenues recognized from Hearthstone.",
"Retail Channel Net Revenues The decrease in net revenues from retail channels for 2019, as compared to 2018, was primarily due to: • lower revenues recognized from Call of Duty: Black Ops 4, which was released in October 2018, as compared to Call of Duty: WWII, which was released in November 2017; • lower revenues recognized from the Destiny franchise; and • lower revenues from Crash Bandicoot™ N. Sane Trilogy, which was released on the Xbox One, PC, and Nintendo Switch in June 2018.",
"The decrease was partially offset by: • revenues recognized from Crash Team Racing Nitro-Fueled, which was released in June 2019; • revenues from Sekiro: Shadows Die Twice, which was released in March 2019; and • higher revenues recognized from Call of Duty: Modern Warfare, which was released in October 2019, as compared to Call of Duty: Black Ops 4."
] |
[
"What does Net revenues include?",
"The Net revenues from “Digital online channels”.",
"How about Net revenues from “Other”?",
"What was net revenues from retail channels?",
"2019",
"What is the total consolidated net revenue of Digital Online channels and Other in 2018?",
"How about that in 2019?",
"What percentage of total consolidated net revenue consists of Other in that year?"
] |
[
[
"What kind of Net revenues are you asking about?"
],
[
"revenues from digitally-distributed subscriptions, downloadable content, microtransactions, and products, as well as licensing royalties."
],
[
"revenues from our Distribution business and the Overwatch League."
],
[
"Which year are you asking about?"
],
[
"909"
],
[
"6393"
],
[
"5580"
],
[
"9.99"
]
] |
[
[
"",
"Accumulated Other Comprehensive Income (Loss)",
""
],
[
"",
"Years ended",
""
],
[
"",
"December 31, 2019",
"December 31, 2018"
],
[
"",
"$",
"$"
],
[
"Balance, beginning of the year",
"(12,216)",
"3,435"
],
[
"",
"",
""
],
[
"Other comprehensive income (loss) before reclassifications",
"12,865",
"(19,821)"
],
[
"Loss on cash flow hedges reclassified from accumulated other comprehensive income (loss) to earnings were as follows:",
"",
""
],
[
"Cost of revenues",
"279",
"255"
],
[
"Sales and marketing",
"1,538",
"1,224"
],
[
"Research and development",
"2,620",
"2,063"
],
[
"General and administrative",
"744",
"628"
],
[
"Tax effect on unrealized gain (loss) on cash flow hedges",
"(4,784)",
"—"
],
[
"Other comprehensive income (loss), net of tax",
"13,262",
"(15,651)"
],
[
"Balance, end of the year",
"1,046",
"(12,216)"
]
] |
[
"Changes in Accumulated Other Comprehensive Income (Loss)",
"The following table summarizes the changes in accumulated other comprehensive income (loss), which is reported as a component of shareholders’ equity, for the years ended December 31, 2019 and 2018:",
"Expressed in US $000's except share and per share amounts"
] |
[
"What information does the table show?",
"What is the accumulated other comprehensive income at the beginning of 2019?",
"How about at the beginning of 2018?",
"What is the average ending balance of accumulated other comprehensive income for 2018 and 2019?",
"What is the average reclassification of cost of revenues for these two years?",
"How about that of sales and marketing?"
] |
[
[
"the changes in accumulated other comprehensive income (loss), which is reported as a component of shareholders’ equity, for the years ended December 31, 2019 and 2018:"
],
[
"(12,216)"
],
[
"3,435"
],
[
"-5585"
],
[
"267"
],
[
"1381"
]
] |
[
[
"2019 Performance Period",
"Revenue Performance Goal(in millions)",
"Operating Margin Performance Goal"
],
[
"Q1",
"$199.5",
"8.1%"
],
[
"Q2",
"$211.7",
"8.3%"
],
[
"Q3",
"$227.3",
"9.6%"
],
[
"Q4",
"$243.2",
"10.8%"
]
] |
[
"1. 2019 Performance Periods and Performance Goals. For the calendar year 2019, there are four quarterly Performance Periods, ending on March 31, June 30, September 30 and December 31, 2019 (each, a “2019 Performance Period”). For each of the four 2019 Performance Periods, there are two equally weighted (50% each) performance goals (each, a “2019 Performance Goal”): Revenue and Operating Margin (each as defined below). The chart below set forth the Revenue and Operating Margin Performance Goals for the four 2019 Performance Periods.",
"“Revenue” means as to each of the 2019 Performance Periods, the Company’s net revenues generated from third parties, including both services revenues and product revenues as defined in the Company’s Form 10-K filed for the calendar year ended December 31, 2018. Net revenue is defined as gross sales less any pertinent discounts, refunds or other contra-revenue amounts, as presented on the Company’s press releases reporting its quarterly financial results.",
"“Operating Margin” means as to each of the 2019 Performance Periods, the Company’s non-GAAP operating income divided by its Revenue. Non-GAAP operating income means the Company’s Revenues less cost of revenues and operating expenses, excluding the impact of stock-based compensation expense, amortization of acquisition related intangibles, legal settlement related charges and as adjusted for certain acquisitions, as presented on the Company’s press releases reporting its quarterly financial results"
] |
[
"When does each respective quarterly performance period end?",
"How is net revenue defined?",
"What are the respective operating margin performance goal?",
"Q1 and Q2.",
"What is the company's average revenue performance goal in these two quarters?",
"How about that in the last two quarters of 2019?",
"What is the value of the company's Q1 revenue performance goal as a percentage of its Q2 performance goal?"
] |
[
[
"March 31",
"June 30",
"September 30",
"December 31"
],
[
"gross sales less any pertinent discounts, refunds or other contra-revenue amounts, as presented on the Company’s press releases reporting its quarterly financial results."
],
[
"Which quarter are you asking about?"
],
[
"8.1%",
"8.3%"
],
[
"205.6"
],
[
"235.25"
],
[
"94.24"
]
] |
[
[
"",
"2019",
"2018"
],
[
"Belgium",
"$49",
"$64"
],
[
"France",
"40",
"154"
],
[
"China",
"359",
"512"
],
[
"Russia",
"2",
"302"
],
[
"Germany",
"36",
"143"
],
[
"Italy",
"159",
"110"
],
[
"South Korea",
"-",
"314"
],
[
"Singapore",
"215",
"376"
],
[
"Other",
"525",
"469"
],
[
"",
"$1,361",
"$ 2,444"
]
] |
[
"Foreign Sales",
"Revenues in each of the Company’s segments include sales to foreign governments or to companies located in foreign countries. For the years ended April 30, 2019 and 2018, revenues, based on the location of the procurement entity and excluding intersegment sales, were derived from the following countries (in thousands):"
] |
[
"What does the table show?",
"What is the revenue in 2019 and 2018 respectively?",
"The revenue from Belgium.",
"How about France?",
"What is the average revenue from Singapore in 2018 and 2019?",
"In 2018, what is the difference in revenue between South Korea and Singapore?",
"how many countries have revenues of less than $100 thousand?",
"2019"
] |
[
[
"For the years ended April 30, 2019 and 2018, revenues, based on the location of the procurement entity and excluding intersegment sales"
],
[
"What kind of revenue are you asking about?"
],
[
"$49",
"$64"
],
[
"40",
"154"
],
[
"295.5"
],
[
"62"
],
[
"Which year are you asking about?"
],
[
"5"
]
] |
[
[
"",
"",
"Fiscal",
""
],
[
"",
"2019",
"2018",
"2017"
],
[
"Cost of sales",
"$4,880",
"$4,403",
"$3,541"
],
[
"Research and development",
"2,990",
"3,247",
"2,973"
],
[
"Selling, general and administrative",
"28,596",
"25,088",
"23,911"
],
[
"Income tax benefit",
"(4,946)",
"(5,073)",
"(7,073)"
],
[
"",
"$31,520",
"$27,665",
"$23,352"
]
] |
[
"Stock Compensation Expense",
"The following table shows total stock-based compensation expense and related tax benefits included in the Consolidated Statements of Operations for fiscal 2019, 2018 and 2017 (in thousands):",
"As a result of our acquisition of Rofin on November 7, 2016, we made a payment of $15.3 million due to the cancellation of options held by employees of Rofin. The payment was allocated between total estimated merger consideration of $11.1 million and post-merger stock-based compensation expense of $4.2 million, recorded in the first quarter of fiscal 2017, based on the portion of the total service period of the underlying options that have not been completed by the merger date.",
"During fiscal 2019, $4.8 million of stock-based compensation cost was capitalized as part of inventory for all stock plans, $4.8 million was amortized into cost of sales and $1.5 million remained in inventory at September 28, 2019. During fiscal 2018, $4.7 million of stock-based compensation cost was capitalized as part of inventory for all stock plans, $4.4 million was amortized into cost of sales and $1.5 million remained in inventory at September 29, 2018.",
"At fiscal 2019 year-end, the total compensation cost related to unvested stock-based awards granted to employees under our stock plans but not yet recognized was approximately $33.1 million. We do not estimate forfeitures. This cost will be amortized on a straight-line basis over a weighted-average period of approximately 1.5 years."
] |
[
"In which years was cost of sales calculated?",
"What was the amount of Research and development?",
"2019",
"What was its change from 2018?",
"What was its percentage change?",
"In which year was the amount of it largest?",
"What was the amount of income tax benefit?",
"2018"
] |
[
[
"2019",
"2018",
"2017"
],
[
"Which year are you asking about?"
],
[
"2,990"
],
[
"-257"
],
[
"-7.91"
],
[
"2018"
],
[
"Which year are you asking about?"
],
[
"(5,073)"
]
] |
[
[
"",
"",
"Year ended December 31,",
""
],
[
"",
"",
"",
"Increase /"
],
[
"",
"2019",
"2018",
"(Decrease)"
],
[
"Net income - Insurance segment",
"$59.4",
"$165.2",
"$(105.8)"
],
[
"Effect of investment (gains) (1)",
"(1.9)",
"(5.6)",
"3.7"
],
[
"Asset impairment expense",
"47.3",
"—",
"47.3"
],
[
"Gain on bargain purchase",
"(1.1)",
"(115.4)",
"114.3"
],
[
"Gain on reinsurance recaptures",
"—",
"(47.0)",
"47.0"
],
[
"Acquisition costs",
"2.1",
"2.8",
"(0.7)"
],
[
"Insurance AOI",
"105.8",
"—",
"105.8"
],
[
"Income tax expense (benefit)",
"(20.1)",
"0.6",
"(20.7)"
],
[
"Pre-tax Insurance AOI",
"$85.7",
"$0.6",
"$85.1"
]
] |
[
"Adjusted Operating Income - Insurance",
"Adjusted Operating Income (\"Insurance AOI\") and Pre-tax Adjusted Operating Income (“Pre-tax Insurance AOI”) for the Insurance segment are non-U.S. GAAP financial measures frequently used throughout the insurance industry and are economic measures the Insurance segment uses to evaluate its financial performance. Management believes that Insurance AOI and Pretax Insurance AOI measures provide investors with meaningful information for gaining an understanding of certain results and provide insight into an organization’s operating trends and facilitates comparisons between peer companies. However, Insurance AOI and Pre-tax Insurance AOI have certain limitations, and we may not calculate it the same as other companies in our industry. It should, therefore, be read together with the Company's results calculated in accordance with U.S. GAAP.",
"Similarly to Adjusted EBITDA, using Insurance AOI and Pre-tax Insurance AOI as performance measures have inherent limitations as an analytical tool as compared to income (loss) from operations or other U.S. GAAP financial measures, as these non-U.S. GAAP measures exclude certain items, including items that are recurring in nature, which may be meaningful to investors. As a result of the exclusions, Insurance AOI and Pre-tax Insurance AOI should not be considered in isolation and do not purport to be an alternative to income (loss) from operations or other U.S. GAAP financial measures as measures of our operating performance.",
"Management defines Pre-tax Insurance AOI as Insurance AOI adjusted to exclude the impact of income tax (benefit) expense recognized during the current period. Management believes that Insurance AOI and Pre-tax Insurance AOI provide meaningful financial metrics that help investors understand certain results and profitability. While these adjustments are an integral part of the overall performance of the Insurance segment, market conditions impacting these items can overshadow the underlying performance of the business. Accordingly, we believe using a measure which excludes their impact is effective in analyzing the trends of our operations.",
"The table below shows the adjustments made to the reported Net income (loss) of the Insurance segment to calculate Insurance AOI and Pre-tax Insurance AOI (in millions). Refer to the analysis of the fluctuations within the results of operations section:",
"(1) The Insurance segment revenues are inclusive of realized and unrealized gains and net investment income for the year ended December 31, 2019 and 2018. Such adjustments are related to transactions between entities under common control which are eliminated or are reclassified in consolidation.",
"Net income for the year ended December 31, 2019 decreased $105.8 million to $59.4 million from $165.2 million for the year ended December 31, 2018. Pre-tax Insurance AOI for the year ended December 31, 2019 increased $85.1 million to $85.7 million from $0.6 million for year ended December 31, 2018. The increase was primarily driven by the incremental net investment income and policy premiums from the KIC block acquisition and higher net investment income from the legacy CGI block driven by both the growth and mix of the investment portfolio, including premium reinvestment and rotation into higher yield assets. In addition, there was a decrease in policy benefits, changes in reserves, and commissions related to current period reserve adjustments driven by higher mortality and policy terminations, an increase in contingent non-forfeiture option activity as a result of in-force rate actions approved and implemented, and favorable developments in claims activity. This was partially offset by an increase in selling, general and administrative expenses, primarily attributable to headcount additions related to the KIC acquisition."
] |
[
"What is the average effect of investment gains?",
"What was the increase / (decrease) in that effect from 2018 to 2019?",
"How about the asset impairment expense?",
"How about the net income - insurance segment?",
"What is its percentage increase / (decrease)?",
"How about the gain on bargain purchase?"
] |
[
[
"-3.75"
],
[
"3.7"
],
[
"47.3"
],
[
"$(105.8)"
],
[
"-64.04"
],
[
"-99.05"
]
] |
[
[
"",
"December 31, 2019",
"",
"December 31, 2018",
""
],
[
"",
"Carrying Value",
"Fair Value",
"Carrying Value",
"Fair Value"
],
[
"",
"",
"(in thousands)",
"",
""
],
[
"Assets",
"",
"",
"",
""
],
[
"Cash and cash equivalents",
"$773,924",
"$773,924",
"$926,752",
"$926,752"
],
[
"Marketable securities",
"241,793",
"241,793",
"277,827",
"277,827"
],
[
"Derivative assets",
"528",
"528",
"79",
"79"
],
[
"Liabilities",
"",
"",
"",
""
],
[
"Contingent consideration",
"39,705",
"39,705",
"70,543",
"70,543"
],
[
"Derivative liabilities",
"203",
"203",
"514",
"514"
],
[
"Convertible debt (1)",
"394,687",
"1,010,275",
"379,981",
"547,113"
]
] |
[
"The carrying amounts and fair values of Teradyne’s financial instruments at December 31, 2019 and 2018 were as follows:",
"(1) The carrying value represents the bifurcated debt component only, while the fair value is based on quoted market prices for the convertible note which includes the equity conversion features.",
"The fair values of accounts receivable, net and accounts payable approximate the carrying amount due to the short term nature of these instruments."
] |
[
"What does the carrying value of convertible debt represent?",
"What do the fair values of accounts receivable, net and accounts payable approximate?",
"In which years were the carrying amounts and fair values of Teradyne’s financial instruments recorded?",
"In which year was the fair value larger?",
"The fair value of Derivative assets.",
"What was the change in the fair value of Marketable securities?",
"From 2018 to 2019.",
"How about its percentage change?"
] |
[
[
"the bifurcated debt component only, while the fair value is based on quoted market prices for the convertible note which includes the equity conversion features."
],
[
"the carrying amount due to the short term nature of these instruments"
],
[
"2019",
"2018"
],
[
"Whose fair value are you asking about?"
],
[
"2019"
],
[
"Which period are you asking about?"
],
[
"-36034"
],
[
"-12.97"
]
] |
[
[
"",
"Year Ended December 31, 2019",
"Year Ended December 31, 2018",
"Year Ended December 31, 2017"
],
[
"Weighted average common shares—basic",
"45,542,315",
"45,280,161",
"44,855,263"
],
[
"Dilutive effect of stock options",
"32,222",
"33,134",
"31,534"
],
[
"Dilutive effect of restricted stock",
"505,858",
"467,659",
"297,406"
],
[
"",
"46,080,395",
"45,780,954",
"45,184,203"
]
] |
[
"1. Description of the business and summary of significant accounting policies: (Continued)",
"Shares of restricted stock are included in the computation of basic EPS as they vest and are included in diluted EPS, to the extent they are dilutive, determined using the treasury stock method.",
"The following details the determination of the diluted weighted average shares:"
] |
[
"What are the respective number of basic weighted average common shares?",
"2017 and 2018.",
"How about 2018 and 2019?",
"How about dilutive effect of stock options in 2018 and 2019?",
"What is the average of them?",
"What is the average number of basic weighted average common shares in 2018 and 2019?",
"How about its average number in 2017 and 2018?"
] |
[
[
"Which years are you asking about?"
],
[
"44,855,263",
"45,280,161"
],
[
"45,280,161",
"45,542,315"
],
[
"33,134",
"32,222"
],
[
"32678"
],
[
"45411238"
],
[
"45067712"
]
] |
[
[
"(In millions, except percentages)",
"2019",
"2018",
"2017",
"Percentage Change 2019 Versus 2018",
"Percentage Change 2018 Versus 2017"
],
[
"Revenue",
"",
"",
"",
"",
""
],
[
"Productivity and Business Processes",
"$ 41,160",
"$ 35,865",
"$ 29,870",
"15%",
"20%"
],
[
"Intelligent Cloud",
"38,985",
"32,219",
"27,407",
"21%",
"18%"
],
[
"More Personal Computing",
"45,698",
"42,276",
"39,294",
"8%",
"8%"
],
[
"Total",
"$ 125,843",
"$ 110,360",
"$ 96,571",
"14%",
"14%"
],
[
"",
"Operating Income (Loss)",
"",
"",
"",
""
],
[
"Productivity and Business Processes",
"$ 16,219",
"$ 12,924",
"$ 11,389",
"25%",
"13%"
],
[
"Intelligent Cloud",
"13,920",
"11,524",
"9,127",
"21%",
"26%"
],
[
"More Personal Computing",
"12,820",
"10,610",
"8,815",
"21%",
"20%"
],
[
"Corporate and Other",
"0",
"0",
"(306)",
"*",
"*"
],
[
"Total",
"$42,959",
"$35,058",
"$29,025",
"23%",
"21%"
],
[
"* not meaningful",
"",
"",
"",
"",
""
]
] |
[
"SEGMENT RESULTS OF OPERATIONS",
"Reportable Segments",
"Fiscal Year 2019 Compared with Fiscal Year 2018",
"Productivity and Business Processes",
"Revenue increased $5.3 billion or 15%. • Office Commercial revenue increased $3.2 billion or 13%, driven by Office 365 Commercial, offset in part by lower revenue from products licensed on-premises, reflecting a continued shift to cloud offerings. Office 365 Commercial grew 33%, due to growth in seats and higher average revenue per user. • Office Consumer revenue increased $286 million or 7%, driven by Office 365 Consumer, due to recurring subscription revenue and transactional strength in Japan. • LinkedIn revenue increased $1.5 billion or 28%, driven by growth across each line of business. • Dynamics revenue increased 15%, driven by Dynamics 365 growth.",
"Operating income increased $3.3 billion or 25%, including an unfavorable foreign currency impact of 2%.\n\n• Gross margin increased $4.1 billion or 15%, driven by growth in Office Commercial and LinkedIn. Gross margin percentage increased slightly, due to gross margin percentage improvement in LinkedIn and Office 365 Commercial, offset in part by an increased mix of cloud offerings.\n\n• Operating expenses increased $806 million or 6%, driven by investments in LinkedIn and cloud engineering, offset in part by a decrease in marketing.",
"Intelligent Cloud",
"Revenue increased $6.8 billion or 21%.\n\n• Server products and cloud services revenue, including GitHub, increased $6.5 billion or 25%, driven by Azure. Azure revenue growth was 72%, due to higher infrastructure-as-a-service and platform-as-a-service consumption-based and per user-based services. Server products revenue increased 6%, due to continued demand for premium versions and hybrid solutions, GitHub, and demand ahead of end-of-support for SQL Server 2008 and Windows Server 2008.\n\n• Enterprise Services revenue increased $278 million or 5%, driven by growth in Premier Support Services and Microsoft Consulting Services.",
"Operating income increased $2.4 billion or 21%.\n\n• Gross margin increased $4.8 billion or 22%, driven by growth in server products and cloud services revenue and cloud services scale and efficiencies. Gross margin percentage increased slightly, due to gross margin percentage improvement in Azure, offset in part by an increased mix of cloud offerings.\n\n• Operating expenses increased $2.4 billion or 22%, driven by investments in cloud and AI engineering, GitHub, and commercial sales capacity.",
"More Personal Computing",
"Revenue increased $3.4 billion or 8%.\n\n• Windows revenue increased $877 million or 4%, driven by growth in Windows Commercial and Windows OEM, offset in part by a decline in patent licensing. Windows Commercial revenue increased 14%, driven by an increased mix of multi-year agreements that carry higher in-quarter revenue recognition. Windows OEM revenue increased 4%. Windows OEM Pro revenue grew 10%, ahead of the commercial PC market, driven by healthy Windows 10 demand. Windows OEM non-Pro revenue declined 7%, below the consumer PC market, driven by continued pressure in the entry level category.\n\n• Surface revenue increased $1.1 billion or 23%, with strong growth across commercial and consumer.\n\n• Gaming revenue increased $1.0 billion or 10%, driven by Xbox software and services growth of 19%, primarily due to third-party title strength and subscriptions growth, offset in part by a decline in Xbox hardware of 13% primarily due to a decrease in volume of consoles sold.\n\n• Search advertising revenue increased $616 million or 9%. Search advertising revenue, excluding traffic acquisition costs, increased 13%, driven by higher revenue per search.",
"Operating income increased $2.2 billion or 21%, including an unfavorable foreign currency impact of 2%.\n\n• Gross margin increased $2.0 billion or 9%, driven by growth in Windows, Gaming, and Search. Gross margin percentage increased slightly, due to a sales mix shift to higher gross margin businesses in Windows and Gaming.\n\n• Operating expenses decreased $172 million or 1%.",
"Fiscal Year 2018 Compared with Fiscal Year 2017",
"Productivity and Business Processes",
"Revenue increased $6.0 billion or 20%.\n\n• LinkedIn revenue increased $3.0 billion to $5.3 billion. Fiscal year 2018 included a full period of results, whereas fiscal year 2017 only included results from the date of acquisition on December 8, 2016. LinkedIn revenue primarily consisted of revenue from Talent Solutions.\n\n• Office Commercial revenue increased $2.4 billion or 11%, driven by Office 365 Commercial revenue growth, mainly due to growth in subscribers and average revenue per user, offset in part by lower revenue from products licensed on-premises, reflecting a continued shift to Office 365 Commercial.\n\n• Office Consumer revenue increased $382 million or 11%, driven by Office 365 Consumer revenue growth, mainly due to growth in subscribers.\n\n• Dynamics revenue increased 13%, driven by Dynamics 365 revenue growth.",
"Operating income increased $1.5 billion or 13%, including a favorable foreign currency impact of 2%.\n\n• Gross margin increased $4.4 billion or 19%, driven by LinkedIn and growth in Office Commercial. Gross margin percentage decreased slightly, due to an increased mix of cloud offerings, offset in part by gross margin percentage improvement in Office 365 Commercial and LinkedIn. LinkedIn cost of revenue increased $818 million to $1.7 billion, including $888 million of amortization for acquired intangible assets.\n\n• Operating expenses increased $2.9 billion or 25%, driven by LinkedIn expenses and investments in commercial sales capacity and cloud engineering. LinkedIn operating expenses increased $2.2 billion to $4.5 billion, including $617 million of amortization of acquired intangible assets.",
"Intelligent Cloud",
"Revenue increased $4.8 billion or 18%.\n\n• Server products and cloud services revenue increased $4.5 billion or 21%, driven by Azure and server products licensed on-premises revenue growth. Azure revenue grew 91%, due to higher infrastructure-as-a-service and platform-as-a-service consumption-based and per user-based services. Server products licensed on-premises revenue increased 5%, mainly due to a higher mix of premium licenses for Windows Server and Microsoft SQL Server.\n\n• Enterprise Services revenue increased $304 million or 5%, driven by higher revenue from Premier Support Services and Microsoft Consulting Services, offset in part by a decline in revenue from custom support agreements.",
"Operating income increased $2.4 billion or 26%.\n\n• Gross margin increased $3.1 billion or 16%, driven by growth in server products and cloud services revenue and cloud services scale and efficiencies. Gross margin percentage decreased, due to an increased mix of cloud offerings, offset in part by gross margin percentage improvement in Azure.\n\n• Operating expenses increased $683 million or 7%, driven by investments in commercial sales capacity and cloud engineering.",
"More Personal Computing",
"Revenue increased $3.0 billion or 8%.\n\n• Windows revenue increased $925 million or 5%, driven by growth in Windows Commercial and Windows OEM, offset by a decline in patent licensing revenue. Windows Commercial revenue increased 12%, driven by multi-year agreement revenue growth. Windows OEM revenue increased 5%. Windows OEM Pro revenue grew 11%, ahead of a strengthening commercial PC market. Windows OEM non-Pro revenue declined 4%, below the consumer PC market, driven by continued pressure in the entry-level price category.\n\n• Gaming revenue increased $1.3 billion or 14%, driven by Xbox software and services revenue growth of 20%, mainly from third-party title strength.\n\n• Search advertising revenue increased $793 million or 13%. Search advertising revenue, excluding traffic acquisition costs, increased 16%, driven by growth in Bing, due to higher revenue per search and search volume.\n\n• Surface revenue increased $625 million or 16%, driven by a higher mix of premium devices and an increase in volumes sold, due to the latest editions of Surface.\n\n• Phone revenue decreased $525 million.",
"Operating income increased $1.8 billion or 20%, including a favorable foreign currency impact of 2%.\n\n• Gross margin increased $2.2 billion or 11%, driven by growth in Windows, Surface, Search, and Gaming. Gross margin percentage increased, primarily due to gross margin percentage improvement in Surface.\n\n• Operating expenses increased $391 million or 3%, driven by investments in Search, AI, and Gaming engineering and commercial sales capacity, offset in part by a decrease in Windows marketing expenses.",
"Corporate and Other\n\nCorporate and Other includes corporate-level activity not specifically allocated to a segment, including restructuring expenses.\n\nFiscal Year 2019 Compared with Fiscal Year 2018\n\nWe did not incur Corporate and Other activity in fiscal years 2019 or 2018.\n\nFiscal Year 2018 Compared with Fiscal Year 2017\n\nCorporate and Other operating loss decreased $306 million, due to a reduction in restructuring expenses, driven by employee severance expenses primarily related to our sales and marketing restructuring plan in fiscal year 2017."
] |
[
"Why did corporate and other operating loss decrease in 2018?",
"Why did server products revenue increase 6%?",
"Why did revenue increase on Office 365 Commercial in 2019 from 2018?",
"How many revenue categories are there?",
"What was the intelligent cloud as a percentage of total revenue?",
"2019",
"What is the average operating income from 2017 to 2019?"
] |
[
[
"due to a reduction in restructuring expenses, driven by employee severance expenses primarily related to our sales and marketing restructuring plan in fiscal year 2017."
],
[
"due to continued demand for premium versions and hybrid solutions, GitHub, and demand ahead of end-of-support for SQL Server 2008 and Windows Server 2008."
],
[
"due to growth in seats and higher average revenue per user"
],
[
"3"
],
[
"Which year are you asking about?"
],
[
"30.98"
],
[
"35680.67"
]
] |
[
[
"Years ended December 31,",
"",
"",
""
],
[
"",
"2019",
"2018",
"2017"
],
[
"Basic weighted-average shares outstanding",
"103.9",
"103.2",
"102.2"
],
[
"Effect of potential common stock:",
"",
"",
""
],
[
"Common stock awards",
"1.2",
"1.2",
"1.3"
],
[
"Diluted weighted-average shares outstanding",
"105.1",
"104.4",
"103.5"
]
] |
[
"Earnings per Share—Basic earnings per share were calculated using net earnings and the weighted-average number of shares of common stock outstanding during the respective year. Diluted earnings per share were calculated using net earnings and the weighted-average number of shares of common stock and potential common stock associated with stock options outstanding during the respective year. The effects of potential common stock were determined using the treasury stock method:",
"As of and for the years ended December 31, 2019, 2018 and 2017, there were 0.627, 0.724 and 0.478 outstanding stock options, respectively, that were not included in the determination of diluted earnings per share because doing so would have been antidilutive."
] |
[
"How is basic earning per share calculated?",
"How are the effects of potential common stock determined?",
"How many outstanding stock options would have been antidilutive?",
"For fiscal years 2017 and 2018, respectively.",
"What is the average of weighted-average shares outstanding from 2017 to 2019?",
"The basic weighted-average shares oustanding.",
"What is the proportion of it over diluted weighted-average shares outstanding in 2017?",
"What is the change in Diluted weighted-average shares outstanding?",
"Between 2018 and 2019."
] |
[
[
"using net earnings and the weighted-average number of shares of common stock outstanding during the respective year"
],
[
"using the treasury stock method"
],
[
"Which year are you asking about?"
],
[
"0.478",
"0.724"
],
[
"What kind of weighted-average shares oustanding are you asking about?"
],
[
"103.1"
],
[
"0.99"
],
[
"Which period are you asking about?"
],
[
"0.7"
]
] |
[
[
"",
"",
"",
"Year Ended December 31,",
"",
""
],
[
"",
"2018",
"2017",
"2016",
"2015",
"2014"
],
[
"",
"",
"",
"(in thousands, except for GPV and per share data)",
"",
""
],
[
"Gross Payment Volume (GPV)(in millions)",
"$84,654",
"$65,343",
"$49,683",
"$35,643",
"$23,780"
],
[
"Adjusted Revenue",
"$1,587,641",
"$983,963",
"$686,618",
"$452,168",
"$276,310"
],
[
"Adjusted EBITDA",
"$256,523",
"$139,009",
"$44,887",
"$(41,115)",
"$(67,741)"
],
[
"Adjusted Net Income (Loss) Per Share:",
"",
"",
"",
"",
""
],
[
"Basic",
"$0.55",
"$0.30",
"$0.04",
"$(0.39)",
"$(0.62)"
],
[
"Diluted",
"$0.47",
"$0.27",
"$0.04",
"$(0.39)",
"$(0.62)"
]
] |
[
"Key Operating Metrics and Non-GAAP Financial Measures",
"We collect and analyze operating and financial data to evaluate the health of our business, allocate our\n\nresources, and assess our performance. In addition to revenue, net loss, and other results under generally accepted accounting principles (GAAP), the following table sets forth key operating metrics and non-GAAP financial measures we use to evaluate our business. We believe these metrics and measures are useful to facilitate period-to-period comparisons of our business, and to facilitate comparisons of our performance to that of other payment processors. Each of these metrics and measures excludes the effect of our processing agreement with Starbucks which transitioned to another payments solutions provider in the fourth quarter of 2016. As we do not expect transactions with Starbucks to recur, we believe it is useful to exclude Starbucks activity to clearly show the impact Starbucks has had on our financial results historically. Our agreements with other sellers generally provide both those sellers and us the unilateral right to terminate such agreements at any time, without fine or\n\npenalty.",
"Gross Payment Volume (GPV)",
"We define GPV as the total dollar amount of all card payments processed by sellers using Square, net of refunds. Additionally, GPV includes Cash App activity related to peer-to-peer payments sent from a credit card and Cash for Business. As described above, GPV excludes card payments processed for Starbucks",
"Adjusted Revenue",
"Adjusted Revenue is a non-GAAP financial measure that we define as our total net revenue less transaction-based costs and bitcoin costs, and we add back the impact of the acquired deferred revenue adjustment, which was written down to fair value in purchase. This measure is also adjusted to eliminate the effect of activity with Starbucks, which ceased using our payments solutions altogether in the fourth quarter of 2016, and we believe that providing Adjusted Revenue metrics that exclude the impact of our agreement with Starbucks is useful to investors."
] |
[
"What does GAAP stand for?",
"What is the definition of GPV?",
"What does it include?",
"What is its percentage change from 2017 to 2018?",
"What is the percentage change of Adjusted Revenue from 2016 to 2017?",
"How much is the change of adjusted EBITDA from 2015 to 2016?"
] |
[
[
"generally accepted accounting principles"
],
[
"total dollar amount of all card payments processed by sellers using Square, net of refunds"
],
[
"Cash App activity related to peer-to-peer payments sent from a credit card and Cash for Business"
],
[
"29.55"
],
[
"43.31"
],
[
"86002"
]
] |
[
[
"",
"",
"Years Ended",
""
],
[
"",
"",
"December 31,",
""
],
[
"",
"2019",
"2018",
"2017"
],
[
"",
"",
"(In thousands, except share and per share data)",
""
],
[
"Numerator:",
"",
"",
""
],
[
"Net income (loss) attributable to common stockholders",
"$(16,490)",
"$19,813",
"$17,929"
],
[
"Denominator:",
"",
"",
""
],
[
"Weighted-average common shares, basic",
"27,618,284",
"27,484,655",
"25,353,966"
],
[
"Weighted-average common shares, diluted*",
"27,618,284",
"28,416,512",
"26,269,727"
],
[
"Net income (loss) per common share:",
"",
"",
""
],
[
"Basic:",
"$(0.60)",
"$0.72",
"$0.71"
],
[
"Diluted:",
"$(0.60)",
"$0.70",
"$0.68"
]
] |
[
"NET INCOME (LOSS) PER COMMON SHARE",
"Basic net income (loss) per common share is based upon the weighted-average number of common shares outstanding. Diluted net income (loss) per common share is based on the weighted-average number of common shares outstanding and potentially dilutive common shares outstanding and computed as follows:",
"* For the twelve months ended December 31, 2018, the diluted earnings per common share included the weighted average effect of 215,196 unvested Restricted Stock Units and 716,661 stock options that are potentially dilutive to earnings per share since the exercise price of such securities was less than the average market price during the period. For the twelve months ended December 31, 2017, the diluted earnings per common share included 438,712 unvested Restricted Stock Units and the weighted average effect of 477,048 stock options that are potentially dilutive to earnings per share since the exercise price of such securities was less than the average market price during the period."
] |
[
"What is the respective number of unvested Restricted Stock Units and stock options included in the diluted earnings per common share for the twelve months ended December 31?",
"2018",
"How about 2017?",
"What is the respective number of weighted-average common shares in 2019 and 2018 respectively?",
"The weighted-average common shares, basic.",
"What is the number of unvested Restricted Stock Units as a percentage of the total Weighted-average common shares, diluted in 2018?",
"How about 2017?",
"What is the number of potentially dilutive stock options as a percentage of the total Weighted-average common shares, diluted in 2018?"
] |
[
[
"Which year are you asking about?"
],
[
"215,196",
"716,661"
],
[
"438,712",
"477,048"
],
[
"What kind of weighted-average shares oustanding are you asking about?"
],
[
"27,618,284",
"27,484,655"
],
[
"0.76"
],
[
"1.67"
],
[
"2.52"
]
] |
[
[
"",
"",
"Years Ended December 31,",
""
],
[
"",
"2019",
"2018",
"Increase / (Decrease)"
],
[
"Net revenue",
"$172.5",
"$194.3",
"$(21.8)"
],
[
"Cost of revenue",
"127.1",
"163.0",
"(35.9)"
],
[
"Selling, general and administrative",
"25.8",
"20.2",
"5.6"
],
[
"Depreciation and amortization",
"25.7",
"27.2",
"(1.5)"
],
[
"Other operating income",
"—",
"(0.7)",
"0.7"
],
[
"Income (loss) from operations",
"$(6.1)",
"$(15.4)",
"$9.3"
]
] |
[
"Segment Results of Operations\nIn the Company's Consolidated Financial Statements, other operating (income) expense includes (i) (gain) loss on sale or disposal of assets, (ii) lease termination costs, (iii)\nasset impairment expense, (iv) accretion of asset retirement obligations, and (v) FCC reimbursements. Each table summarizes the results of operations of our operating\nsegments and compares the amount of the change between the periods presented (in millions). Marine Services Segment",
"Net revenue: Net revenue from our Marine Services segment for the year ended December 31, 2019 decreased $21.8 million to $172.5 million from $194.3 million for the year ended December 31, 2018. The decrease was primarily driven by a decline in the volume of projects under execution across multiple reporting lines, including power cable repair in offshore renewables, telecom installation work, and a reduction in CWind Group revenue due to focusing on a mix of more profitable projects.",
"Cost of revenue: Cost of revenue from our Marine Services segment for the year ended December 31, 2019 decreased $35.9 million to $127.1 million from $163.0 million for the year ended December 31, 2018. The decrease was driven by the reduction in revenue, improved vessel utilization, and higher than expected costs on a certain power construction project in the comparable period that were not repeated.",
"Selling, general and administrative: Selling, general and administrative expenses from our Marine Services segment for the year ended December 31, 2019 increased $5.6 million to $25.8 million from $20.2 million for the year ended December 31, 2018. The increase was primarily due to higher disposition costs in the fourth quarter of 2019 related to the sale of the Marine Services segment. This was partially offset by a reversal of an accrual of bad debt expense in the current period due to a favorable receivable settlement during the quarter. See Note 24. Subsequent Events for the summary of the subsequent events.",
"Depreciation and amortization: Depreciation and amortization from our Marine Services segment for the year ended December 31, 2019 decreased $1.5 million to $25.7 million from $27.2 million for the year ended December 31, 2018. The decrease was largely attributable to the disposal of assets during the year.",
"Other operating income: Other operating income decreased $0.7 million from $0.7 million of income for the year ended December 31, 2018, as a result of an impairment expense recorded in 2019 due to the under-utilization of assets on one of the segment's barges."
] |
[
"What was the cost of revenue from Marine Services segment?",
"For the year ended December 31, 2019.",
"How about the net revenue for that year?",
"And the net revenue for 2018?",
"What was its percentage increase / (decrease) from 2018 to 2019?",
"How about the Depreciation and amortization?",
"What was the average cost of revenue?"
] |
[
[
"Which year are you asking about?"
],
[
"$127.1 million"
],
[
"$172.5 million"
],
[
"$194.3 million"
],
[
"-11.22"
],
[
"-5.51"
],
[
"145.05"
]
] |
[
[
"",
"",
"Year ended December 31",
"",
""
],
[
"(EUR million)",
"2018",
"",
"2019",
""
],
[
"United States",
"175.9",
"21.5%",
"339.5",
"26.4%"
],
[
"Europe",
"165.6",
"20.2%",
"126.2",
"9.8%"
],
[
"Asia",
"476.6",
"58.3%",
"818.2",
"63.7%"
],
[
"",
"818.1",
"100.0%",
"1,283.9",
"100.0%"
]
] |
[
"REVENUE",
"The sales cycle from quotation to shipment for our Front-end equipment generally takes several months, depending on capacity utilization and the urgency of the order. Usually, acceptance is within four months after shipment. The sales cycle is longer for equipment that is installed at the customer’s site for evaluation prior to sale. The typical trial period ranges from six months to two years after installation.",
"Our revenues are concentrated in Asia, the United States and Europe. The following table shows the geographic distribution of our revenue for 2018 and 2019:"
] |
[
"Where are the revenues of this company concentrated?",
"What is the usual acceptance duration after shipment?",
"What is the base currency used for the table?",
"What is the average revenue in 2018 and 2019?",
"The revenue for United States.",
"What is the average annual total revenue for all regions for 2018 and 2019?",
"How much more revenue does the company have in Asia have over Europe?",
"2019"
] |
[
[
"Asia, the United States and Europe"
],
[
"within four months"
],
[
"EUR"
],
[
"What kind of revenue are you asking about?"
],
[
"257.7"
],
[
"1051"
],
[
"Which year are you asking about?"
],
[
"692"
]
] |
[
[
"",
"",
"Year Ended",
"December 31,",
""
],
[
"",
"2019",
"",
"2018",
""
],
[
"",
"Number of",
"Number of",
"Number of",
"Number of"
],
[
"",
"RSUs",
"Vested RSUs",
"RSUs",
"Vested RSUs"
],
[
"Outstanding, Jan. 1",
"951",
"459",
"462",
"262"
],
[
"Granted",
"333",
"-",
"759",
"-"
],
[
"Distributed",
"(267)",
"(267)",
"(262)",
"(262)"
],
[
"Vested",
"-",
"825",
"-",
"459"
],
[
"Forfeited",
"-",
"-",
"(8)",
"-"
],
[
"Outstanding, Dec. 31",
"1,017",
"1,017",
"951",
"459"
]
] |
[
"Restricted Stock Unit Award Plans",
"We have two Restricted Stock Unit Award Plans for our employees and non-employee directors, a 2017 Restricted Stock Unit Award Plan (the “2017 RSU Plan”) and a 2014 Restricted Stock Unit Award Plan (the “2014 RSU Plan”). Vesting of an RSU entitles the holder to receive a share of our common stock on a distribution date. Our non-employee director awards allow for non-employee directors to receive payment in cash, instead of stock, for up to 40% of each RSU award. The portion of the RSU awards subject to cash settlement are recorded as a liability in the Company’s consolidated balance sheet as they vest and being marked-to-market each reporting period until they are distributed. The liability was $29 thousand and $11 thousand at December 31, 2019 and 2018, respectively.",
"The compensation cost to be incurred on a granted RSU without a cash settlement option is the RSU’s fair value, which is the market price of our common stock on the date of grant, less its exercise cost. The compensation cost is amortized to expense and recorded to additional paid-in capital over the vesting period of the RSU award.",
"A summary of the grants under the RSU Plans as of December 31, 2019 and 2018, and for the year then ended consisted of the following (in thousands):"
] |
[
"What are the two restricted stock unit award plans for employee and non-employee directors?",
"What was the RSU liability for non-employee directors in 2019 and 2018?",
"What is the difference between the number of RSUs in 2019 and 2018?",
"RSUs granted.",
"What is the percentage increase in the number of RSUs oustanding in that period?",
"What is the ending outstanding number of vested RSUs?",
"2019",
"What is the difference between that of RSUs and Vested RSUs in 2018?"
] |
[
[
"We have two Restricted Stock Unit Award Plans for our employees and non-employee directors, a 2017 Restricted Stock Unit Award Plan (the “2017 RSU Plan”) and a 2014 Restricted Stock Unit Award Plan (the “2014 RSU Plan”)."
],
[
"The liability was $29 thousand and $11 thousand at December 31, 2019 and 2018, respectively."
],
[
"What kind of RSUs are you asking for?"
],
[
"426"
],
[
"6.94"
],
[
"Which year are you asking about?"
],
[
"1,017"
],
[
"492"
]
] |
[
[
"",
"",
"",
"Year Ended March 31,",
"",
""
],
[
"",
"2019",
"2018",
"2017",
"2016",
"2015"
],
[
"",
"",
"",
"(in thousands)",
"",
""
],
[
"Reconciliation of Adjusted EBITDA:",
"",
"",
"",
"",
""
],
[
"Net (loss) income ",
"$(7,001)",
"$(12,386)",
"$(5,441)",
"$(3,244)",
"$285"
],
[
"Depreciation, amortization and disposals of long-lived assets",
"29,960",
"19,141",
"11,881",
"10,527",
"11,028"
],
[
"Rent expense related to build-to-suit facilities",
"(4,482)",
"(785)",
"—",
"—",
"—"
],
[
"Interest expense (income), net ",
"3,425",
"(712)",
"(242)",
"616",
"641"
],
[
"Provision for income taxes ",
"2,001",
"2,705",
"2,202",
"865",
"152"
],
[
"Share-based compensation expense ",
"25,954",
"11,734",
"10,294",
"7,886",
"5,426"
],
[
"Impairments of long-lived assets ",
"—",
"1,712",
"—",
"—",
"—"
],
[
"Restructuring ",
"(170)",
"832",
"—",
"—",
"1,203"
],
[
"Foreign exchange expense (income) ",
"1,647",
"3,511",
"(6,892)",
"(811)",
"(4,508)"
],
[
"Acquisition-related expenses (1) (3) ",
"2,012",
"—",
"655",
"—",
"—"
],
[
"Gain on previously held asset (2) ",
"(338)",
"—",
"—",
"—",
"—"
],
[
"Litigation-related expenses (4) ",
"1,000",
"—",
"—",
"—",
"—"
],
[
"Adjusted EBITDA",
"$54,008",
"$25,752",
"$12,457",
"$15,839",
"$14,227"
]
] |
[
"(8) Adjusted EBITDA is a non-GAAP financial measure that we define as net (loss) income, adjusted to exclude: depreciation, amortization, disposals and impairment of long-lived assets, acquisition-related gains and expenses, litigation-related expenses, share-based compensation expense, restructuring expense, interest income and interest expense, the provision for income taxes and foreign exchange income (expense). Adjusted EBITDA also includes rent paid in the period related to locations that are accounted for as build-to-suit facilities.",
"We believe that Adjusted EBITDA provides investors and other users of our financial information consistency and comparability with our past financial performance, facilitates period-to-period comparisons of operations and facilitates comparisons with our peer companies, many of which use a similar non-GAAP financial measure to supplement their GAAP results.",
"We use Adjusted EBITDA in conjunction with traditional GAAP operating performance measures as part of our overall assessment of our performance, for planning purposes, including the preparation of our annual operating budget, to evaluate the effectiveness of our business strategies, to communicate with our board of directors concerning our financial performance, and for establishing incentive compensation metrics for executives and other senior employees.",
"We do not place undue reliance on Adjusted EBITDA as a measure of operating performance. This non-GAAP measure should not be considered as a substitute for other measures of financial performance reported in accordance with GAAP. There are limitations to using a non-GAAP financial measure, including that other companies may calculate this measure differently than we do, that it does not reflect our capital expenditures or future requirements for capital expenditures and that it does not reflect changes in, or cash requirements for, our working capital.",
"The following table presents a reconciliation of net (loss) income to Adjusted EBITDA:",
"(1) Acquisition-related expenses relate to costs incurred for acquisition activity in the years ended March 31, 2019 and March 31, 2017. See Note 5 of the notes to our consolidated financial statements, included elsewhere in this Annual Report on Form 10-K for further information. (2) Gain on previously held asset relates to the Solebit acquisition. See Note 5 of the notes to our consolidated financial statements, included elsewhere in this Annual Report on Form 10-K for further information.",
"(3) Amounts in fiscal 2017 adjusted to conform to current year presentation. (4) Litigation-related expenses relate to amounts accrued for loss contingencies. See Note 12 of the notes to our consolidated financial statements, included elsewhere in this Annual Report on Form 10-K for further details."
] |
[
"What is the Adjusted EBITDA?",
"2019",
"How about 2018?",
"What was the Net (loss) income in 2019, 2018 and 2017 respectively?",
"What was the change in long-lived assets from 2018 to 2019?",
"The Depreciation, amortization and disposals of long-lived assets.",
"What is the average Rent expense related to build-to-suit facilities?",
"Between 2015-2019.",
"In which year was Adjusted EBITDA less than 20,000 thousands?"
] |
[
[
"Which year are you asking about?"
],
[
"$54,008"
],
[
"$25,752"
],
[
"(7,001)",
"(12,386)",
"(5,441)"
],
[
"Which part of long-lived assets are you asking about?"
],
[
"10819"
],
[
"Which period are you asking about?"
],
[
"-1053.4"
],
[
"2017",
"2016",
"2015"
]
] |
[
[
"",
"August 31, 2019",
"August 31, 2018"
],
[
"Contract liabilities",
"$511,329",
"$—"
],
[
"Deferred income",
"—",
"691,365"
],
[
"Accrued compensation and employee benefits",
"600,907",
"570,400"
],
[
"Obligation associated with securitization programs",
"475,251",
"—"
],
[
"Other accrued expenses",
"1,402,657",
"1,000,979"
],
[
"Accrued expenses",
"$2,990,144",
"$2,262,744"
]
] |
[
"7. Accrued Expenses",
"Accrued expenses consist of the following (in thousands):"
] |
[
"What was the contract liabilities in 2019?",
"What was the Accrued compensation and employee benefits?",
"2018",
"What was its change between 2018 and 2019?",
"Which years does the table provide information for on accrued expenses?",
"How many years did it exceed $2,000,000 thousand?",
"What was its percentage change between 2018 and 2019?"
] |
[
[
"$511,329"
],
[
"Which year are you asking about?"
],
[
"570,400"
],
[
"30507"
],
[
"2019",
"2018"
],
[
"2"
],
[
"32.15"
]
] |
[
[
"",
"",
"Three Months Ended",
""
],
[
"",
"December 31, 2019",
"September 29, 2019",
"December 31, 2018"
],
[
"",
"",
"(Unaudited, in millions)",
""
],
[
"Income tax expense",
"$(62)",
"$(28)",
"$(28)"
]
] |
[
"During the fourth and third quarters of 2019 and the fourth quarter of 2018, we recorded an income tax expense of $62 million, $28 million and $28 million, respectively, reflecting (i) in the third quarter of 2019 the estimated annual effective tax rate in each of our jurisdictions, applied to the consolidated results before taxes in the third quarter of 2019 and (ii) in both fourth quarters the actual tax charges and benefits in each jurisdiction as well as the true-up of tax provisions based upon the most updated visibility on open tax matters in several jurisdictions. and (ii) in both fourth quarters the actual tax charges and benefits in each jurisdiction as well as the true-up of tax provisions based upon the most updated visibility on open tax matters in several jurisdictions. and (ii) in both fourth quarters the actual tax charges and benefits in each jurisdiction as well as the true-up of tax provisions based upon the most updated visibility on open tax matters in several jurisdictions.",
"Income tax expense"
] |
[
"How much was the income tax expense in 2019?",
"The fourth quarter of 2019.",
"What does the income tax expense in the third quarter of 2019, reflect?",
"How about that in the fourth quarter of 2018 and 2019?",
"What is the average Income tax expense for the period September 29, and December 31, 2019?",
"How about that for the period December 31, 2019 and 2018?",
"What is its increas/ (decrease) in that period?"
] |
[
[
"Which quarter of 2019 are you asking about?"
],
[
"$62 million"
],
[
"in the third quarter of 2019 the estimated annual effective tax rate in each of our jurisdictions, applied to the consolidated results before taxes in the third quarter of 2019"
],
[
"in both fourth quarters the actual tax charges and benefits in each jurisdiction as well as the true-up of tax provisions based upon the most updated visibility on open tax matters in several jurisdictions."
],
[
"45"
],
[
"45"
],
[
"34"
]
] |
[
[
"USDm",
"2019",
"2018",
"2017"
],
[
"Reconciliation to revenue",
"",
"",
""
],
[
"Revenue",
"692.6",
"635.4",
"657.0"
],
[
"Port expenses, bunkers and commissions",
"-267.7",
"-283.0",
"-259.9"
],
[
"TCE earnings",
"424.9",
"352.4",
"397.1"
]
] |
[
"ALTERNATIVE PERFORMANCE MEASURES",
"Time Charter Equivalent (TCE) earnings:",
"TORM defines TCE earnings, a performance measure, as revenue after port expenses, bunkers and commissions incl. freight and bunker derivatives. The Company reports TCE earnings because we believe it provides additional meaningful information to investors in relation to revenue, the most directly comparable IFRS measure. TCE earnings is a standard shipping industry performance measure used primarily to compare period-to-period changes in a shipping company’s performance irrespective of changes in the mix of charter types (i.e. spot charters, time charters and bareboat charters) under which the vessels may be employed between the periods. Below is presented a reconciliation from Revenue to TCE earnings:"
] |
[
"How is TCE earnings defined?",
"How is TCE earnings used as a standard shipping industry performance measure?",
"What are the components under Reconciliation to revenue when calculating TCE earnings?",
"In which year was the largest?",
"Revenue",
"What was the change in TCE earnings?",
"In 2019 from 2018.",
"What was its percentage change in that period?"
] |
[
[
"TORM defines TCE earnings, a performance measure, as revenue after port expenses, bunkers and commissions incl. freight and bunker derivatives"
],
[
"TCE earnings is a standard shipping industry performance measure used primarily to compare period-to-period changes in a shipping company’s performance irrespective of changes in the mix of charter types (i.e. spot charters, time charters and bareboat charters) under which the vessels may be employed between the periods"
],
[
"Revenue",
"Port expenses, bunkers and commissions"
],
[
"Which component are you asking about?"
],
[
"2019"
],
[
"Which period are you asking about?"
],
[
"72.5"
],
[
"20.57"
]
] |
[
[
"At December 31, 2019",
"Operating Leases",
"Finance Lease"
],
[
"2020",
"$92,404",
"$4,172"
],
[
"2021",
"91,164",
"4,161"
],
[
"2022",
"107,654",
"4,161"
],
[
"2023",
"43,015",
"4,161"
],
[
"2024",
"9,168",
"4,172"
],
[
"Thereafter",
"4,534",
"17,180"
],
[
"Net minimum lease payments",
"347,939",
"38,007"
],
[
"Less: present value discount",
"40,891",
"10,448"
],
[
"Total lease liabilities",
"$307,048",
"$27,559"
]
] |
[
"Charters-in",
"As of December 31, 2019, the Company had commitments to charter-in 11 vessels, which are all bareboat charters. During the second quarter of 2019, the Company commenced a bareboat charter for the Overseas Key West for a lease term of 10 years. Based on the length of the lease term and the remaining economic life of the vessel, it is accounted for as a finance lease. The remaining 10 chartered-in vessels are accounted for as operating leases.",
"The right-of-use asset accounted for as a finance lease arrangement is reported in vessels and other property, less accumulated depreciation on our consolidated balance sheets. The Company holds options for 10 of the vessels chartered-in that can be exercised for one, three or five years with the one-year option only usable once, while the three- and five-year options are available indefinitely.",
"The lease payments for the charters-in are fixed throughout the option periods and the options are on a vessel-by-vessel basis that can be exercised individually. The Company exercised its option on one of its vessels to extend the term until June 2025. On December 10, 2018, the Company exercised its options to extend the terms of the other nine vessels.",
"Terms for five of the vessels were extended for an additional three years, with terms ending in December 2022, and terms for four of the vessels were extended for an additional year, with terms ending December 2020. On December 11, 2019, the terms for the four vessels ending December 2020 were extended for an additional three years, with terms ending in December 2023.",
"Five of the Company's chartered in vessels contain a deferred payment obligation (“DPO”) which relates to charter hire expense incurred by the Company in prior years and payable to the vessel owner in future periods. This DPO is due in quarterly installments with the final quarterly payment due upon lease termination.",
"The future minimum commitments under these leases are as follows:",
"The bareboat charters-in provide for variable lease payments in the form of profit share to the owners of the vessels calculated in accordance with the respective charter agreements or based on time charter sublease revenue. Because such amounts and the periods impacted are not reasonably estimable, they are not currently reflected in the table above. Due to reserve funding requirements and current rate forecasts, no profits are currently expected to be paid to the owners in respect of the charter term within the next year.",
"For the year ended December 31, 2019, lease expense for the 10 chartered-in vessels accounted for as operating leases was $90,359, which is included in charter hire expense on the consolidated statements of operations and operating cash flows on the consolidated statements of cash flows. The Company recognized sublease income of $188,163 for the year ended December 31, 2019.",
"For the year ended December 31, 2019, the Company had non-cash operating activities of $93,407 for obtaining operating right-of-use assets and liabilities that resulted from exercising lease renewals not assumed in the initial lease term.",
"For the year ended December 31, 2019, lease expense related to the Company's finance lease was $2,052 related to amortization of the right-of-use asset and $1,462 related to interest on the lease liability. These are included in operating cash flows on the consolidated statements of cash flows. For the year ended December 31, 2019, the Company had non-cash financing activities of $28,993 for obtaining finance right-of-use assets.",
"For the year ended December 31, 2018, lease expense relating to charters-in was $91,350, which is included in charter hire expense on the consolidated statements of operations."
] |
[
"How much was the lease expense relating to charters-in for the year ended December 31?",
"2018",
"What is the change in future minimum commitments of Leases from 2020 to 2021?",
"Operating Leases.",
"What is the average of them?",
"In which year was its amount greater than 100,000?",
"What was the Finance Lease in 2020 and 2021 respectively?",
"How about 2022 and 2023?"
] |
[
[
"Which year are you asking about?"
],
[
"$91,350"
],
[
"What kind of leases are you asking about?"
],
[
"-1240"
],
[
"91784"
],
[
"2022"
],
[
"$4,172",
"4,161"
],
[
"4,161",
"4,161"
]
] |
[
[
"",
"December 31, 2019",
"December 31,2018"
],
[
"Cash on hand and at banks",
"$77,041",
"$131,432"
],
[
"Short-term deposits and highly liquid funds",
"950",
"6,450"
],
[
"Restricted cash",
"736",
"12,892"
],
[
"Cash and cash equivalents and restricted cash",
"$78,727",
"$150,774"
]
] |
[
"NAVIOS MARITIME HOLDINGS INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Expressed in thousands of U.S. dollars — except share data)",
"NOTE 4: CASH AND CASH EQUIVALENTS AND RESTRICTED CASH",
"Cash and cash equivalents and restricted cash consisted of the following:",
"Short-term deposits and highly liquid funds relate to amounts held in banks for general financing purposes and represent deposits with an original maturity of less than three months",
"Cash deposits and cash equivalents in excess of amounts covered by government-provided insurance are exposed to loss in the event of non-performance by financial institutions. Navios Holdings does maintain cash deposits and equivalents in excess of government provided insurance limits. Navios Holdings reduces exposure to credit risk by dealing with a diversified group of major financial institutions. See also Note 2(e)."
] |
[
"What did Short-term deposits and highly liquid funds relate to?",
"What was its change between 2018 and 2019? ",
"Which years does the table provide information for Cash and cash equivalents and restricted cash?",
"Which years did its amount exceed $100,000?",
"What was the amount of restricted cash?",
"2019",
"What was its percentage change between 2018 and 2019?"
] |
[
[
"amounts held in banks for general financing purposes and represent deposits with an original maturity of less than three months"
],
[
"-5500"
],
[
"2019",
"2018"
],
[
"2018"
],
[
"Which year are you asking about?"
],
[
"736"
],
[
"-94.29"
]
] |
[
[
"",
"2019",
"2018"
],
[
"",
"£m",
"£m"
],
[
"Amounts owed by Group undertakings",
"414.7",
"439.9"
],
[
"Deferred tax asset",
"1.2",
"0.8"
],
[
"Total",
"415.9",
"440.7"
]
] |
[
"4. Debtors",
"Amounts owed by Group undertakings are non-interest-bearing, unsecured and have no fixed date of repayment."
] |
[
"What characteristics do amounts owed by Group undertakings possess?",
"What was the total amount owed to debtors by the Group in 2019?",
"What are the components factored in when calculating the total amount owed to debtors in the table?",
"In which year was the amount larger?",
"The Deferred tax asset.",
"What was its change in 2019 from 2018?",
"How about this change in percentage?"
] |
[
[
"non-interest-bearing, unsecured and have no fixed date of repayment"
],
[
"415.9"
],
[
"Amounts owed by Group undertakings",
"Deferred tax asset"
],
[
"Which component are you asking about?"
],
[
"2019"
],
[
"0.4"
],
[
"50"
]
] |
[
[
"",
"2019",
"2018"
],
[
"Deferred tax assets:",
"",
""
],
[
"Stock-based compensation",
"$2,646",
"$3,067"
],
[
"Net operating loss carryforwards",
"9,419",
"8,568"
],
[
"Research credit carryforwards",
"5,570",
"3,890"
],
[
"Intangibles",
"58",
"—"
],
[
"Other, net",
"90",
"354"
],
[
"Total deferred assets",
"17,783",
"15,879"
],
[
"Deferred tax liabilities:",
"",
""
],
[
"Intangibles",
"—",
"(181)"
],
[
"Foreign deferred liabilities",
"(5,811)",
"(8,032)"
],
[
"Net deferred tax asset",
"11,972",
"7,666"
],
[
"Valuation allowance for net deferred tax assets",
"(931)",
"(472)"
],
[
"Net deferred tax asset",
"$11,041",
"$7,194"
]
] |
[
"Deferred Income Tax Assets and Liabilities",
"Significant components of the Company’s net deferred tax assets and liabilities as of September 30, 2019 and 2018 are as follows(amounts shown in thousands):",
"The net change in the total valuation allowance for the fiscal years ended September 30, 2019 and 2018 was an increase of $0.5 million and an increase of $0.4 million, respectively. In assessing the realizability of deferred tax assets, the Company considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during periods in which those temporary differences become deductible. The Company considers projected future taxable income and planning strategies in making this assessment. Based on the level of historical operating results and the projections for future taxable income, the Company has determined that it is more likely than not that the deferred tax assets may be realized for all deferred tax assets with the exception of the net foreign deferred tax assets at Mitek Systems B.V.",
"As of September 30, 2019, the Company has available net operating loss carryforwards of $29.5 million for federal income tax purposes, of which $2.1 million were generated in the fiscal year ended September 30, 2019 and can be carried forward indefinitely under the Tax Cuts and Jobs Act. The remaining federal net operating loss of $27.4 million, which were generated prior to the fiscal year ended September 30, 2019, will start to expire in2032 if not utilized. The net operating losses for state purposes are $29.4 million and will begin to expire in2028. As of September 30, 2019, the Company has available federal research and development credit carryforwards, net of reserves, of $2.8 million. The federal research and development credits will start to expire in2027. As of September 30, 2019, the Company has available California research and development credit carryforwards, net of reserves, of $2.4 million, which do not expire.",
"Sections 382 and 383 of the Internal Revenue Code of 1986, as amended (the “IRC”) limit the utilization of tax attribute carryforwards that arise prior to certain cumulative changes in a corporation’s ownership. The Company has completed an IRC Section 382/383 analysis through March 31, 2017 and any identified ownership changes had no impact to the utilization of tax attribute carryforwards. Any future ownership changes may have an impact on the utilization of the tax attribute carryforwards."
] |
[
"How does the Company assess the realizability of deferred tax assets?",
"Which laws limit the utilization of tax attribute carryforwards that arise prior to certain cumulative changes in a corporation’s ownership?",
"What are the Company’s net deferred tax assets in 2018 and 2019, respectively?",
"What is the percentage change between them?",
"What is the average of deferred assets from 2018 to 2019?",
"The total deferred assets.",
"What is the proportion of research credit carryforwards and intangible assets over it in 2019?"
] |
[
[
"the Company considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized"
],
[
"Sections 382 and 383 of the Internal Revenue Code of 1986"
],
[
"$7,194",
"$11,041"
],
[
"53.48"
],
[
"What kind of deferred assets are you asking about?"
],
[
"16831"
],
[
"0.32"
]
] |
[
[
"",
"",
"Year Ended December 31,",
""
],
[
"",
"2019",
"2018",
"2017"
],
[
"",
"",
"(in thousands)",
""
],
[
"Interest income",
"$8,178",
"$7,796",
"$2,951"
],
[
"Interest expense",
"(21,559)",
"(28,176)",
"(14,762)"
],
[
"Other, net",
"84",
"(3,098)",
"1,478"
],
[
"Other expense, net",
"$(13,297)",
"$(23,478)",
"$(10,333)"
]
] |
[
"Other Income (Expense)",
"Interest income in 2019 increased by $0.4 million due to an increase in interest income earned on investment securities and money market portfolios.",
"Interest expense in 2019 decreased by $6.6 million due to the payoff of the 1.50% convertible notes due July 1, 2018 with a principal amount of $253.0 million (the “2018 Notes”) in the third quarter of 2018. Refer to the section titled “Liquidity and Capital Resources” for additional information on the convertible notes.",
"Other, net primarily included foreign exchange gains and losses related to transactions denominated in foreign currencies, as well as foreign exchange gains and losses related to our intercompany loans and certain cash accounts. Foreign exchange gains and losses for the years ended December 31, 2019, 2018, and 2017, were primarily driven by fluctuations in the euro and US dollar in relation to the British pound."
] |
[
"What does others, net include?",
"What was interest income?",
"2017",
"What is its average from 2017-2019?",
"What was its percentage change between 2018 and 2019?",
"What was the percentage change in Interest expense between 2017 and 2018?",
"What was others, net in 2019?"
] |
[
[
"foreign exchange gains and losses related to transactions denominated in foreign currencies, as well as foreign exchange gains and losses related to our intercompany loans and certain cash accounts."
],
[
"Which year are you asking about?"
],
[
"$2,951"
],
[
"6308.33"
],
[
"4.9"
],
[
"90.87"
],
[
"84"
]
] |
[
[
"",
"",
"Years Ended December 31,",
""
],
[
"",
"2019",
"2018",
"2017"
],
[
"Balance, beginning of period",
"-$3,912",
"-$4,799",
"-$3,873"
],
[
"Provision increase",
"-2,561",
"-1,505",
"-2,086"
],
[
"Amounts written off, net of recoveries",
"1,368",
"2,269",
"1,305"
],
[
"Foreign currency translation adjustments and other",
"-44",
"123",
"-145"
],
[
"Balance, end of period",
"-$5,149",
"-$3,912",
"-$4,799"
]
] |
[
"The Company maintains a general allowance for doubtful accounts based on historical experience, along with additional customer specific allowances. The Company regularly monitors credit risk exposures in consolidated receivables. In estimating the necessary level of our allowance for doubtful accounts, management considers the aging of accounts receivable, the creditworthiness of customers, economic conditions within the customer’s industry, and general economic conditions, among other factors.",
"The following reflects activity in the Company’s allowance for doubtful accounts receivable for the periods indicated (in thousands):",
"Provision increases recorded in general and administrative expense during the years ended December 31, 2019, 2018, and 2017, reflect increases in the allowance for doubtful accounts based upon collection experience in the geographic regions in which the Company conducts business, net of collection of customer-specific receivables that were previously reserved for as doubtful of collection."
] |
[
"What does the company consider in estimating the necessary level of allowance for doubtful accounts?",
"What was the balance in 2019?",
"At the end of period.",
"How about 2018?",
"What was the change between them?",
"What was the change in Amounts written off, net of recoveries between 2018 and 2019?",
"What was its percentage change between 2017 and 2018?"
] |
[
[
"the aging of accounts receivable, the creditworthiness of customers, economic conditions within the customer’s industry, and general economic conditions, among other factors."
],
[
"Which period are you asking about?"
],
[
"-$5,149"
],
[
"-$3,912"
],
[
"-1237"
],
[
"-901"
],
[
"73.87"
]
] |
[
[
"",
"",
"(dollars in millions)"
],
[
"Years Ended December 31,",
"2019",
"2018"
],
[
"Consolidated Net Income",
"$19,788",
"$16,039"
],
[
"Add:",
"",
""
],
[
"Provision for income taxes",
"2,945",
"3,584"
],
[
"Interest expense",
"4,730",
"4,833"
],
[
"Depreciation and amortization expense",
"16,682",
"17,403"
],
[
"Consolidated EBITDA",
"44,145",
"41,859"
],
[
"Add (Less):",
"",
""
],
[
"Other (income) expense, net†",
"2,900",
"(2,364)"
],
[
"Equity in losses of unconsolidated businesses‡",
"15",
"186"
],
[
"Severance charges",
"204",
"2,157"
],
[
"Acquisition and integration related charges§",
"—",
"531"
],
[
"Product realignment charges§",
"—",
"450"
],
[
"Impairment charges",
"186",
"4,591"
],
[
"Net gain from dispositions of assets and businesses",
"(261)",
"—"
],
[
"Consolidated Adjusted EBITDA",
"$ 47,189",
"$ 47,410"
]
] |
[
"Consolidated Net Income, Consolidated EBITDA and Consolidated Adjusted EBITDA",
"Consolidated earnings before interest, taxes, depreciation and amortization expenses (Consolidated EBITDA) and Consolidated Adjusted EBITDA, which are presented below, are non-generally accepted accounting principles (GAAP) measures that we believe are useful to management, investors and other users of our financial information in evaluating operating profitability on a more variable cost basis as they exclude the depreciation and amortization expense related primarily to capital expenditures and acquisitions that occurred in prior years,",
"as well as in evaluating operating performance in relation to Verizon’s competitors. Consolidated EBITDA is calculated by adding back interest, taxes, and depreciation and amortization expenses to net income.",
"Consolidated Adjusted EBITDA is calculated by excluding from Consolidated EBITDA the effect of the following non-operational items: equity in losses of unconsolidated businesses and other income and expense, net, as well as the effect of special items. We believe that this measure is useful to management, investors and other users of our financial information in evaluating the effectiveness of our operations and underlying business trends in a manner that is consistent with management’s evaluation of business performance.",
"We believe that Consolidated Adjusted EBITDA is widely used by investors to compare a company’s operating performance to its competitors by minimizing impacts caused by differences in capital structure, taxes and depreciation policies. Further, the exclusion of non-operational items and special items enables comparability to prior period performance and trend analysis. See “Special Items” for additional information.",
"It is management’s intent to provide non-GAAP financial information to enhance the understanding of Verizon’s GAAP financial information, and it should be considered by the reader in addition to, but not instead of, the financial statements prepared in accordance with GAAP. Each non-GAAP financial measure is presented along with the corresponding GAAP measure so as not to imply that more emphasis should be placed on the non-GAAP measure.",
"We believe that non-GAAP measures provide relevant and useful information, which is used by management, investors and other users of our financial information, as well as by our management in assessing both consolidated and segment performance. The non-GAAP financial information presented may be determined or calculated differently by other companies and may not be directly comparable to that of other companies.",
"† Includes Pension and benefits mark-to-market adjustments and early debt redemption costs, where applicable. ‡ Includes Product realignment charges and impairment charges, where applicable. § Excludes depreciation and amortization expense.",
"The changes in Consolidated Net Income, Consolidated EBITDA and Consolidated Adjusted EBITDA in the table above were primarily a result of the factors described in connection with operating revenues and operating expenses."
] |
[
"How is Consolidated Adjusted EBITDA calculated?",
"Why is it useful?",
"What is its change from 2018 to 2019?",
"How about that in Consolidated Net Income?",
"What is its amount?",
"2019",
"What is the change in EBITDA from 2018 to 2019?",
"The Consolidated EBITDA."
] |
[
[
"by excluding from Consolidated EBITDA the effect of the following non-operational items: equity in losses of unconsolidated businesses and other income and expense, net, as well as the effect of special items."
],
[
"evaluating the effectiveness of our operations and underlying business trends in a manner that is consistent with management’s evaluation of business performance."
],
[
"-221"
],
[
"3749"
],
[
"Which year are you asking about?"
],
[
"$19,788"
],
[
"What kind of EBITDA are you asking about?"
],
[
"2286"
]
] |
[
[
"",
"2019",
"2018"
],
[
"",
"$ million",
"$ million"
],
[
"Cash at bank",
"103.9",
"57.7"
],
[
"Short-term bank deposits",
"79.3",
"63.9"
],
[
"",
"183.2",
"121.6"
]
] |
[
"22. Cash and cash equivalents",
"Cash at bank earns interest at floating interest rates. Of the total cash and cash equivalents balance, $79.3 million (2018 $63.9 million) is callable at notice of three months or less at the date of investment.",
"Short-term bank deposits are made for varying periods of between one day and three months depending on the cash requirements of the Group and earn interest at the short-term deposit rates appropriate for the term of the deposit and currency.",
"At the end of 2019, the currency split of cash and cash equivalents was US Dollar 78 per cent (2018 83 per cent), Sterling 11 per cent (2018 8 per cent) and other currencies 11 per cent (2018 9 per cent).",
"For the purposes of the cash flow statement, cash and cash equivalents comprise the above amounts."
] |
[
"What are short-term bank deposits made for?",
"In which year was its amount larger?",
"What amount of the total cash and cash equivalents balance is callable at notice of three months or less at the date of investment in 2019?",
"What are the items under cash and cash equivalents, for the purposes of the cash flow statement?",
"What was the change in the cash at bank?",
"From 2018 to 2019.",
"What was its percentage change?"
] |
[
[
"varying periods of between one day and three months depending on the cash requirements of the Group and earn interest at the short-term deposit rates appropriate for the term of the deposit and currency."
],
[
"2019"
],
[
"$79.3 million"
],
[
"Cash at bank",
"Short-term bank deposits"
],
[
"Which period are you asking about?"
],
[
"46.2"
],
[
"80.07"
]
] |
[
[
"Name",
"Fiscal Year",
"Maximum Possible Value of MSUs Using Grant Date Fair Value",
"Maximum Possible Value of PSUs Using Grant Date Fair Value"
],
[
"Oleg Khaykin",
"2019",
"4,067,526",
"—"
],
[
"",
"2018",
"2,457,750",
"909,900"
],
[
"",
"2017",
"659,618",
"—"
],
[
"Amar Maletira",
"2019",
"1,379,350",
"—"
],
[
"",
"2018",
"1,015,870",
"454,950"
],
[
"",
"2017",
"574,500",
"—"
],
[
"Paul McNab",
"2019",
"591,150",
"—"
],
[
"",
"2018",
"442,395",
"—"
],
[
"",
"2017",
"373,425",
"—"
],
[
"Luke Scrivanich",
"2019",
"591,150",
"—"
],
[
"",
"2018",
"442,395",
"—"
],
[
"",
"2017",
"393,600",
"—"
],
[
"Gary Staley",
"2019",
"591,150",
"—"
],
[
"",
"2018",
"943,527",
"—"
],
[
"",
"2017",
"303,948",
"—"
]
] |
[
"The assumptions used to calculate these amounts for fiscal 2019 are set forth under Note 16 of the Notes to Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for fiscal year 2019 filed with the SEC on August 27, 2019.",
"(2) Amounts shown do not reflect compensation actually received by the NEO. Instead, the amounts shown in this column represent the grant date fair values of stock options issued pursuant to the Company’s 2003 Equity Incentive Plan and certain inducement grants, computed in accordance with FASB ASC Topic 718. The assumptions used to calculate these amounts for fiscal 2019 are set forth under Note 16 of the Notes to Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for fiscal year 2019 filed with the SEC on August 27, 2019.",
"(3) All non-equity incentive plan compensation was paid pursuant to the Variable Pay Plan.",
"(4) The amounts in the “All Other Compensation” column for fiscal 2019 include: $4,000 401(k) matching contribution by the Company for each NEOs other than Mr. McNab.",
"(5) The Compensation Committee awarded Mr. Maletira a one-time discretionary bonus in the amount of $180,000 in connection with his work on the AvComm and Wireless acquisition. Please see “Discretionary Bonuses” under the Compensation Discussion and Analysis on page 36 of this proxy statement.",
"(6) Mr. Staley was awarded a $60,000 sign-on bonus when he joined the Company in February 2017.",
"The amounts in the salary, bonus, and non-equity incentive plan compensation columns of the Summary Compensation Table reflect actual amounts paid for the relevant years, while the amounts in the stock awards column reflect accounting values. The tables entitled “Outstanding Equity Awards at Fiscal Year-End Table” and “Option Exercises and Stock Vested Table” provide further information on the named executive officers’ potential realizable value and actual value realized with respect to their equity awards. The Summary Compensation Table should be read in conjunction with the Compensation Discussion and Analysis and the subsequent tables and narrative descriptions."
] |
[
"How much was Gary Staley's sign-on bonus when he joined the company in February 2017?",
"What was the maximum possible value for Oleg Khaykin in 2018?",
"The maximum posiible value of MSU's using grant date fair value.",
"How about that for Paul McNab in 2019?",
"What was its percentage change between 2017 and 2018?",
"What is the difference between the maximum possible value of PSUs between Oleg Khaykin and Amar Maletira?",
"2018",
"How much does the top 2 maximum possible value of MSUs in 2019 add up to?"
] |
[
[
"$60,000"
],
[
"What kind of maximum possible value are you asking about?"
],
[
"2,457,750"
],
[
"591,150"
],
[
"18.47"
],
[
"Which year are you asking about?"
],
[
"454950"
],
[
"5446876"
]
] |
[
[
"As of December 31,",
"",
""
],
[
"",
"2019",
"2018"
],
[
"",
"(In thousands)",
""
],
[
"Other liabilities, current",
"$2,000",
"$1,500"
],
[
"Other liabilities, non-current",
"1,799",
"3,463"
],
[
"",
"$3,799",
"$4,963"
]
] |
[
"NOTE 6 – OTHER LIABILITIES",
"As described in Note 4, the Company and Finjan Blue entered into a Patent Assignment Agreement with IBM.The components of other liabilities are as presented below:"
] |
[
"What are the respective values of other liabilities in 2019 and 2018?",
"Other current liabilities.",
"How about other non-current liabilities?",
"How about total other liabilities?",
"What is the average total other liabilities in 2018 and 2019?",
"How about other current liabilities?",
"What is the value of other current liabilities as a percentage of the total other liabilities?",
"2019"
] |
[
[
"What kind of other liabilities are you asking about?"
],
[
"$2,000",
"$1,500"
],
[
"1,799",
"3,463"
],
[
"$3,799",
"$4,963"
],
[
"4381"
],
[
"1750"
],
[
"Which year are you asking about?"
],
[
"52.65"
]
] |
[
[
"",
"Year ended December 31,",
""
],
[
"(EUR thousand)",
"2018",
"2019"
],
[
"Equipment revenue",
"631,504",
"1,068,645"
],
[
"Spares & service revenue",
"186,577",
"215,215"
],
[
"Total",
"818,081",
"1,283,860"
]
] |
[
"Revenue stream",
"The Company generates revenue primarily from the sales of equipment and sales of spares & service. The products and services described by nature in Note 1, can be part of all revenue streams.",
"The proceeds resulting from the patent litigation & arbitration settlements (€159 million) are included in the equipment revenue stream."
] |
[
"Where can the products and services described by nature be found?",
"What is the revenue in 2018?",
"Equipment revenue.",
"What is the patent litigation & arbitration settlements expressed as a percentage of Equipment revenue in 2019?",
"What is the Spares & service revenue for that year?",
"What is the change in total revenue from 2018 to 2019?",
"What was the component that comprised of the largest proportion of revenue for 2018 and 2019 respectively?"
] |
[
[
"Note 1"
],
[
"What kind of revenue are you asking about?"
],
[
"631,504"
],
[
"14.88"
],
[
"215,215"
],
[
"465779"
],
[
"Equipment revenue",
"Equipment revenue"
]
] |
[
[
"",
"Lease Commitment",
"Non-Lease Commitment",
"Total Commitment"
],
[
"",
"$",
"$",
"$"
],
[
"Payments",
"",
"",
""
],
[
"2020",
"69,617",
"37,089",
"106,706"
],
[
"2021",
"54,195",
"26,948",
"81,143"
],
[
"2022",
"22,978",
"8,189",
"31,167"
],
[
"2023",
"9,227",
"-",
"9,227"
],
[
"2024",
"5,713",
"-",
"5,713"
],
[
"Thereafter",
"-",
"-",
"-"
],
[
"Total payments",
"161,730",
"72,226",
"233,956"
],
[
"Less: imputed interest",
"(13,128)",
"",
""
],
[
"Carrying value of operating lease liabilities",
"148,602",
"",
""
],
[
"Less current portion",
"(61,431)",
"",
""
],
[
"Carrying value of long-term operating lease liabilities",
"87,171",
"",
""
]
] |
[
"10. Operating Leases",
"The Company charters-in vessels from other vessel owners on time-charter-in and bareboat charter contracts, whereby the vessel owner provides use of the vessel to the Company, and, in the case of time-charter-in contracts, also operates the vessel for the Company. A timecharter- in contract is typically for a fixed period of time, although in certain cases the Company may have the option to extend the charter.",
"The Company typically pays the owner a daily hire rate that is fixed over the duration of the charter. The Company is generally not required to pay the daily hire rate for time-charters during periods the vessel is not able to operate.",
"With respect to time-charter- With respect to time-charter-in and bareboat charter contracts with an original term of more than one year, for the year ended December 31, 2019, the Company incurred $99.0 million of time-charter and bareboat hire expense related to these time-charter and bareboat charter contracts, of which $68.2 million was allocable to the lease component, and $30.8 million was allocable to the non-lease component.",
"The amounts allocable to the lease component approximate the cash paid for the amounts included in lease liabilities and are reflected as a reduction in operating cash flows for the year ended December 31, 2019. Three of Teekay Tankers' time-charter-in contracts each have an option to extend the charter for an additional one-year term.",
"Since it is not reasonably certain that Teekay Tankers will exercise the options, the lease components of the options are not recognized as part of the right-of-use assets and lease liabilities. As at December 31, 2019, the weighted-average remaining lease term and weighted-average discount rate for these time-charter-in and bareboat charter contracts were 2.6 years and 6.1%, respectively.",
"During the year ended December 31, 2019, Teekay Tankers chartered in two LR2 vessels and one Aframax vessel for periods of 24 months each, Teekay LNG extended the charter-in contract for one LNG carrier for a period of 21 months, and Teekay Parent extended the charterin contract for one FSO unit for a period of 12 months, which resulted in the Company recognizing right-of-use assets and lease liabilities totaling $47.7 million and $47.7 million, respectively.",
"A maturity analysis of the Company’s operating lease liabilities from time-charter-in and bareboat charter contracts (excluding short-term leases) at December 31, 2019 is as follows:",
"As at December 31, 2019, minimum commitments to be incurred by the Company under short-term time-charter-in contracts were approximately $4.3 million (2020). As at December 31, 2018, minimum commitments to be incurred by the Company under vessel operating leases by which the Company charters-in vessels were approximately $116.3 million (2019), $90.4 million (2020), $53.4 million (2021), $9.1 million (2022), $9.1 million (2023) and $5.6 million thereafter."
] |
[
"What was the minimum commitments to be incurred by the Company under short-term time-charter-in contracts at December 2019?",
"What was the Lease and Non-Lease commitment?",
"2020",
"What was the commitment in 2021?",
"The Lease commitment.",
"What is its increase / (decrease) from 2020 to 2021?",
"In which year was its amount less than 10,000 thousands?",
"What is its average from 2020 to 2022?"
] |
[
[
"$99.0 million"
],
[
"Which year are you asking about?"
],
[
"69,617",
"37,089"
],
[
"What kind of commitment are you asking about?"
],
[
"54,195"
],
[
"-15422"
],
[
"2023",
"2024"
],
[
"48930"
]
] |
[
[
"",
"",
"August 31, 2019",
"",
"August 31, 2018",
""
],
[
"(in thousands)",
"Fair Value Hierarchy",
"Carrying Amount",
"Fair Value",
"Carrying Amount",
"Fair Value"
],
[
"Notes payable and long-term debt: (Note 8)",
"",
"",
"",
"",
""
],
[
"5.625% Senior Notes",
"Level 2(1)",
"$398,886",
"$416,000",
"$397,995",
"$415,704"
],
[
"4.700% Senior Notes",
"Level 2(1)",
"498,004",
"525,890",
"497,350",
"503,545"
],
[
"4.900% Senior Notes",
"Level 3(2)",
"299,057",
"318,704",
"298,814",
"306,535"
],
[
"3.950% Senior Notes",
"Level 2(1)",
"494,825",
"509,845",
"494,208",
"476,010"
]
] |
[
"Fair Value of Financial Instruments",
"The carrying amounts of cash and cash equivalents, trade accounts receivable, prepaid expenses and other current assets, accounts payable and accrued expenses approximate fair value because of the short-term nature of these financial instruments. The carrying amounts of borrowings under credit facilities and under loans approximates fair value as interest rates on these instruments approximates current market rates.",
"Notes payable and long-term debt is carried at amortized cost; however, the Company estimates the fair value of notes payable and long-term debt for disclosure purposes. The following table presents the carrying amounts and fair values of the Company’s notes payable and long-term debt, by hierarchy level as of the periods indicated:",
"(1) The fair value estimates are based upon observable market data.",
"(2) This fair value estimate is based on the Company’s indicative borrowing cost derived from discounted cash flows.",
"Refer to Note 9 – “Postretirement and Other Employee Benefits” for disclosure surrounding the fair value of the Company’s pension plan assets."
] |
[
"What were the fair value estimates based on?",
"The Level 3 fair value estimates.",
"How about the Level 2?",
"What was the change in the fair value for the Senior Notes between 2018 and 2019?",
"The 4.700% Senior Notes.",
"How about the 3.950%?",
"What was the carrying amount in the 5.625% Senior Notes?",
"2019",
"What was the percentage change in the carrying amount for the 4.900% Senior Notes?",
"Between 2018 and 2019."
] |
[
[
"What kind of fair value estimates are you asking for?"
],
[
"the Company’s indicative borrowing cost derived from discounted cash flows."
],
[
"observable market data."
],
[
"Which Senior Notes are you asking about?"
],
[
"22345"
],
[
"33835"
],
[
"Which year are you asking about?"
],
[
"$398,886"
],
[
"Which period are you asking about?"
],
[
"0.08"
]
] |
[
[
"",
"",
"Year Ended December 31,",
"% Change"
],
[
"2019 vs. 2018",
"2019",
"2018",
"2019 vs. 2018"
],
[
"Cost of revenue(1):",
"",
"",
""
],
[
"Cost of SaaS and license revenue",
"$50,066",
"$44,933",
"11%"
],
[
"Cost of hardware and other revenue",
"133,533",
"100,782",
"32%"
],
[
"Total cost of revenue",
"$183,599",
"$145,715",
"26%"
],
[
"% of total revenue",
"37%",
"35%",
""
]
] |
[
"Comparison of Years Ended December 31, 2019 to December 31, 2018",
"The following tables in this section set forth our selected consolidated statements of operations (in thousands), data for the percentage change and data as a percentage of revenue for the years ended December 31, 2019 and 2018. Certain previously reported amounts in the consolidated statements of operations for the year ended December 31, 2018 have been reclassified to conform to our current presentation to reflect interest income as a separate line item, which was previously included in other income, net.",
"Cost of Revenue",
"(1) Excludes amortization and depreciation shown in operating expenses.",
"The $37.9 million increase in cost of revenue in 2019 as compared to 2018 was the result of a $32.8 million, or 32%, increase in cost of hardware and other revenue and a $5.1 million, or 11%, increase in cost of SaaS and license revenue. Our cost of software license revenue included within cost of SaaS and license revenue decreased $0.4 million to $1.3 million during 2019 as compared to $1.7 million during 2018. The increase in cost of Alarm.com segment hardware and other revenue related primarily to an increase in the number of hardware units shipped in 2019 as compared to 2018. The increase in cost of corresponding increase in amounts paid to wireless network providers.",
"Cost of hardware and other revenue as a percentage of hardware and other revenue was 81% and 78% for the years ended December 31, 2019 and 2018, respectively. Cost of SaaS and license revenue as a percentage of SaaS and license revenue was 15% for each of the years ended December 31, 2019 and 2018. Cost of software license revenue as a percentage of software license revenue was 3% and 4% for the years ended December 31, 2019 and 2018, respectively. The increase in cost of hardware and other revenue as a percentage of hardware and other revenue in 2019 as compared to 2018 is a reflection of the mix of product sales during the periods."
] |
[
"What was the Cost of revenue in 2019?",
"SaaS and license revenue.",
"What was the Cost of hardware and other revenue?",
"2018",
"How about the total cost in that year?",
"How many years did this amount exceed $150,000 thousand?",
"What was its percentage change between 2018 and 2019?",
"How many costs of revenue exceeded $100,000 thousand?",
"2019"
] |
[
[
"What kinds of revenues are you asking about?"
],
[
"$50,066"
],
[
"Which year are you asking about?"
],
[
"100,782"
],
[
"$145,715"
],
[
"1"
],
[
"2"
],
[
"Which year are you asking about?"
],
[
"1"
]
] |
[
[
"",
"31 March 2019",
"31 March 2018"
],
[
"",
"$M",
"$M"
],
[
"Current",
"",
""
],
[
"Trade payables",
"35.8",
"39.6"
],
[
"Accruals",
"46.6",
"68.4"
],
[
"Social security and other taxes",
"12.7",
"14.9"
],
[
"Other payables",
"7.1",
"11.2"
],
[
"Total current trade and other payables",
"102.2",
"134.1"
],
[
"Non-Current",
"",
""
],
[
"Other payables",
"10.1",
"8.2"
],
[
"Total non-current trade and other payables",
"10.1",
"8.2"
]
] |
[
"22 Trade and Other Payables",
"Trade payables are non interest-bearing and are normally settled on 30-day terms or as otherwise agreed with suppliers."
] |
[
"What are the conditions for trade payables?",
"For which years are the trade and other payables calculated for?",
"What are the components which make up the total Current trade and other payables?",
"In which year was the amount of Total non-current trade and other payables larger?",
"What was its change in 2019 from 2018?",
"What was this in percentage?"
] |
[
[
"Trade payables are non interest-bearing and are normally settled on 30-day terms or as otherwise agreed with suppliers."
],
[
"2019",
"2018"
],
[
"Trade payables",
"Accruals",
"Social security and other taxes",
"Other payables"
],
[
"2019"
],
[
"1.9"
],
[
"23.17"
]
] |
[
[
"",
"",
"Pension",
""
],
[
"",
"2019",
"2018",
"2017"
],
[
"Service cost",
"$1,437",
"$1,063",
"$1,068"
],
[
"Interest cost",
"3,715",
"3,807",
"2,942"
],
[
"Expected long-term return on plan assets",
"(5,291)",
"(5,954)",
"(4,206)"
],
[
"Recognized actuarial loss",
"741",
"1,127",
"1,929"
],
[
"Amortization of prior service credit",
"(44)",
"(88)",
"(138)"
],
[
"Net settlement loss",
"634",
"116",
"1,472"
],
[
"Net periodic benefit cost",
"$1,192",
"$71",
"$3,067"
]
] |
[
"Net Periodic Benefit Cost",
"The following table provides information about the net periodic benefit cost for the plans for fiscal years 2019, 2018 and 2017 (in thousands):",
"On September 1, 2018, the Company adopted a new accounting standard, which changes the presentation of net periodic benefit cost in the Consolidated Statements of Operation. The Company adopted the standard on a retrospective basis which results in reclassifications for the service cost component of net periodic benefit cost from selling, general and administrative expense to cost of revenue and for the other components from selling, general and administrative expense to other expense. Prior periods have not been reclassified due to immateriality."
] |
[
"Which fiscal years does the table provide information about the net periodic benefit cost for?",
"What was the total percentage change in the cost between 2017 and 2019?",
"The Net periodic benefit cost.",
"What was the service cost in 2019?",
"What was the change in interest cost?",
"Between 2018 and 2019.",
"What was its amount in 2018?",
"How many years did the loss exceed $1,000 thousand?",
"The recognized actuarial loss."
] |
[
[
"2019",
"2018",
"2017"
],
[
"What kind of cost are you asking about?"
],
[
"-61.13"
],
[
"$1,437"
],
[
"Which period are you asking about?"
],
[
"-92"
],
[
"3,807"
],
[
"What kind of loss are you asking about?"
],
[
"2"
]
] |
[
[
"($ in millions)",
"",
"",
"",
""
],
[
"For the year ended December 31:",
"2019",
"2018",
"Yr.-to-Yr. Percent Change",
"Yr.-to-Yr. Percent Change Adjusted for Currency"
],
[
"Systems external revenue",
"$7,604",
"$8,034",
"(5.3)%",
"(4.1)%"
],
[
"Systems Hardware",
"$5,918",
"$6,363",
"(7.0)%",
"(5.9)%"
],
[
"IBM Z",
"",
"",
"(1.1)",
"(0.3)"
],
[
"Power Systems",
"",
"",
"(13.5)",
"(12.1)"
],
[
"Storage Systems",
"",
"",
"(8.9)",
"(7.6)"
],
[
"Operating Systems Software",
"1,686",
"1,671",
"0.9",
"2.6"
]
] |
[
"Systems revenue of $7,604 million decreased 5.3 percent year to year as reported (4 percent adjusted for currency). Systems Hardware revenue of $5,918 million declined 7.0 percent as reported (6 percent adjusted for currency), driven primarily by declines in Power Systems and Storage Systems. Operating Systems Software revenue of $1,686 million grew 0.9 percent as reported (3 percent adjusted for currency) compared to the prior year.",
"Within Systems Hardware, IBM Z revenue decreased 1.1 percent as reported but was essentially flat adjusted for currency, reflecting the mainframe product cycles. Revenue declined through the first three quarters due to the end of the z14 product cycle, but there was strong growth in the fourth quarter driven by z15 shipments. The z15’s strong performance demonstrates client demand for technology that offers improved data privacy and resiliency in the hybrid cloud environment.",
"The z15 mainframe’s capabilities extend the platform’s differentiation with encryption everywhere, cloud-native development and instant recovery. In October, we announced OpenShift for IBM Z, bringing together the industry’s most comprehensive enterprise container and Kubernetes platform with the enterprise server\nplatforms of IBM Z and LinuxONE. IBM Z continues to deliver a high-value, secure and scalable platform for our clients.",
"Power Systems revenue decreased 13.5 percent as reported (12 percent adjusted for currency) year to year, due to the strong performance during the second half of 2018 driven by Linux and the introduction of the POWER9-based architecture in our mid-range and high-end products.",
"Storage Systems revenue decreased 8.9 percent as reported (8 percent adjusted for currency) year to year, with improvements in year-to-year performance in the fourth quarter of 2019, driven primarily by the launch of the next generation high-end storage\nsystem DS8900 in November.",
"Within Systems, cloud revenue of $2.9 billion declined 4 percent as reported and 3 percent adjusted for currency."
] |
[
"What caused the revenue to decline?",
"The IBM Z revenue.",
"How about the Power Systems revenue?",
"How about the Systems Hardware revenue?",
"What is its average from 2018 to 2019?",
"What is the increase / (decrease) in Operating Systems Software in that period?",
"What is the average Systems external revenue?",
"From 2018 to 2019."
] |
[
[
"What kind of revenue are you asking about?"
],
[
"IBM Z revenue decreased 1.1 percent as reported but was essentially flat adjusted for currency, reflecting the mainframe product cycles. Revenue declined through the first three quarters due to the end of the z14 product cycle, but there was strong growth in the fourth quarter driven by z15 shipments."
],
[
"due to the strong performance during the second half of 2018 driven by Linux and the introduction of the POWER9-based architecture in our mid-range and high-end products."
],
[
"driven primarily by declines in Power Systems and Storage Systems."
],
[
"6140.5"
],
[
"15"
],
[
"Which period are you asking about?"
],
[
"7819"
]
] |
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