DEXTER-CQA/TAT-QA-corpus huggingface dataset:
On March 4, 2019, the company completed a public offering of $750 million aggregate principal amount of the Company’s Senior Notes due March 15, 2026 (the “2026 Notes”), $1.0 billion aggregate principal amount of the Company’s Senior Notes due March 15, 2029 (the “2029 Notes”), and $750 million aggregate principal amount of the Company’s Senior Notes due March 15, 2049 (the “2049 Notes”). The Company will pay interest at an annual rate of 3.75%, 4.00%, and 4.875%, on the 2026, 2029, and 2049 Notes, respectively, on a semi-annual basis on March 15 and September 15 of each year beginning September 15, 2019.
||2020 Notes|2021 Notes|2025 Notes|2026 Notes|2029 Notes|2049 Notes
Remaining Amortization period|(years)|0.7|2.0|5.7|6.7|9.7|29.7
Fair Value of Notes (Level2)|(in thousands)|$500,855|$806,232|$528,895|$786,915|$1,063,670|$828,188
||Net cash provided by operating activities|Net cash used in investing activities|Net cash provided by (used in) financing activities|Effect of exchange rate changes on cash and cash equivalents|Net increase in cash and cash equivalents
Year Ended December 31,|2019|$723.4|(135.3)|(456.9)|(0.8)|$130.4
|2018|$559.8|(254.8)|47.0|(2.3)|$349.7
|2017|$475.6|(1,570.1)|1,107.5|3.6|$16.6
ASC Topic 280, “Segment Reporting” (Topic 280), establishes standards for reporting, by public business enterprises, information about operating segments, products and services, geographic areas, and major customers. The method of determining what information, under Topic 280, to report is based on the way that an entity organizes operating segments for making operational decisions and how the entity’s management and chief operating decision maker (CODM) assess an entity’s financial performance. Our operations are analyzed by management and our CODM as being part of a single industry segment: the design, development, marketing and sales of Enterprise Information Management software and solutions.
||Revenues:|Canada|United States|United Kingdom|Germany|Rest of Europe|All other countries|Total revenues
|2019||$153,890|1,490,863|182,815|203,403|534,204|303,580|$2,868,755
Year Ended June 30,|2018||$149,812|1,425,244|201,821|198,253|517,693|322,418|$2,815,241
|2017||$227,115|1,090,049|159,817|166,611|394,132|253,333|$2,291,057
Particulars|Aggregate number of shareholders and the outstanding shares in the suspense account lying as on April 1, 2018|Shareholders who approached the Company for transfer of shares from suspense account during the year|Shareholders to whom shares were transferred from the suspense account during the year|Shareholders whose shares are transferred to the demat account of the IEPF Authority as per Section 124 of the Act|Aggregate number of shareholders and the outstanding shares in the suspense account lying as on March 31, 2019
Number of shareholders|26|-|-|-|26
Number of equity shares|820|-|-|-|1,640*
|(Dollars in millions)|Services Revenues:|Americas|EMEA|Asia Pacific|Total revenues|Total Expenses (1)|Total Margin|Total Margin %|% Revenues by Geography:|Americas|EMEA|Asia Pacific
|2019||$1,576|1,021|643|3,240|2,703|$537|17%||49%|31%|20%
|Actual||-5%|-2%|-7%|-5%|-1%|-19%|||||
Percent Change|Constant||-3%|2%|-4%|-2%|2%|-18%|||||
|2018||$1,654|1,046|695|3,395|2,729|$666|20%||49%|31%|20%
||Transaction Volume|Dollars (in millions)|Percentage increase|Loan Servicing Portfolio|Dollars (in millions, at end of period)|Percentage increase|Active Merchants|Number (at end of period)|Percentage increase|Cumulative Consumer Accounts|Number (in millions, at end of period)|Percentage increase
|2019||$5,954|18%||$9,150|25%||17,216|15%||3.03|35%
Year Ended December 31,|2018||$5,030|34%||$7,341|36%||14,907|37%||2.24|43%
|2017||$3,767|||$5,390|||10,891|||1.57|
Active Merchants. We define active merchants as home improvement merchants and healthcare providers that have submitted at least one consumer application during the twelve months ended at the date of measurement. Because our transaction volume is a function of the size, engagement and growth of our merchant network, active merchants, in aggregate, are an indicator of future revenue and profitability, although they are not directly correlated. The comparative measures can also be impacted by disciplined corrective action taken by the Company to remove merchants from our program who do not meet our customer satisfaction standards.
Loan Servicing Portfolio. We define our loan servicing portfolio as the aggregate outstanding consumer loan balance (principal plus accrued interest and fees) serviced by our platform at the date of measurement. Our loan servicing portfolio is an indicator of our servicing activities. The average loan servicing portfolio for the years ended December 31, 2019, 2018 and 2017 was $8,213 million, $6,303 million and $4,501 million, respectively.
(Amounts in thousands, except per share data and percentages)|Bookings|Backlog|Sales|Sales growth %|Research & development|Operating income|Net income (loss) per share, continuing operations attributable to Cubic|Adjusted EBITDA (1)|Adjusted EBITDA growth %|Adjusted earnings per share (1)|Adjusted earnings per share growth %|Cash dividend per share|Long-term debt, inclusive of current portion
2019|$1,002,320|$3,400,952|$1,496,475|24%|$50,132|$86,237|$1.67|$146,594|40%|$3.13|43%|$0.27|$199,824
2018|$2,779,782|$4,064,451|$1,202,898|9%|$52,398|$24,382|$0.29|$104,561|20%|$2.19|35%|$0.27|$199,793
2017|$1,234,013|$2,536,499|$1,107,709||$52,652|$2,628|$(0.95)|$87,470||$1.62||$0.27|$199,761
|(In millions)|Interest expense|Gain on divestiture|Interest income|Loss from equity interest|Foreign exchange loss|Other|Total other income (expense), net
Fiscal Year|2019|$(208)|—|42|(101)|(18)|13|$(272)
|2018|$(256)|653|24|(26)|(28)|21|$388
|Variance in Dollars|$48|(653)|18|(75)|10|(8)|$(660)
|Balance at January 1, 2017|Granted|Vested|Forfeitures|Balance at December 31, 2018|Granted|Vested|Forfeitures|Balance at December 31, 2019
Number of Unvested Shares |489,698|296,287|(312,365)|(15,000)|458,620|291,600|(210,619)|(37,499)|502,102
Weighted Average Grant Date Fair Value|$1.51|$3.07|$1.45|$1.41|$2.56|$3.75|$2.33|$2.96|$3.32
Aggregate Grant Date Fair Value of Unvested Shares|738,345|$909,600|$(454,339)|$(21,150)|$1,172,456|$1,094,430|$(490,769)|$(111,115)|$1,665,002
Net cash generated from operating activities in fiscal year 2019 was $75.0 million compared to $83.2 million in the in fiscal year 2018, a decrease of $8.2 million, or 9.9%, primarily due to decrease in working capital movement of $65.1 million, mainly attributable to increase in trade receivables by $88.5 million and increase in trade payables by $23.4 million and as a result of lower operating profit before exceptional item generated in fiscal year 2019 as compared to fiscal year 2018.
FOR THE YEAR ENDED DECEMBER 31|Current taxes|Current taxes|Uncertain tax positions|Change in estimate relating to prior periods|Deferred taxes|Deferred taxes relating to the origination and reversal of temporary differences|Change in estimate relating to prior periods|Recognition and utilization of loss carryforwards|Effect of change in provincial corporate tax rate|Uncertain tax positions|Total income taxes
2019||(761)|6|22||(322)|(8)|(106)|27|9|(1,133)
2018||(775)|8|12||(352)|8|44|–|60|(995)
We assess the carrying value of our inventory on a quarterly basis by estimating future demand and comparing that demand against on-hand and on-order inventory positions. Forecasted revenues information is obtained from the sales and marketing groups and incorporates factors such as backlog and future consolidated revenues. This quarterly process identifies obsolete and excess inventory. Obsolete inventory, which represents items for which there is no demand, is fully reserved. Excess inventory, which represents inventory items that are not expected to be consumed during the next twelve quarters for our Semiconductor Test, Industrial Automation and System Test segments and next four quarters for our Wireless Test segment, is written-down to estimated net realizable value.
||Product gross profit|Percent of product revenues|Service gross profit|Percent of service revenues
2019||$1,105.6|58.6%|$234.2|57.5%
2018|(dollars in millions)|$1,002.5|58.0%|$217.9|58.7%
2018-2019 Dollar/Point Change||$103.1|0.6|$16.3|(1.2)
During the year ended December 31, 2019, we recorded an inventory provision of $15.2 million included in cost of revenues, primarily due to downward revisions to previously forecasted demand levels for certain products. Of the $15.2 million of total excess and obsolete provisions, $8.7 million was related to Semiconductor Test, $4.0 million was related to Wireless Test, $2.0 million was related to System Test, and $0.5 million was related to Industrial Automation.
During the year ended December 31, 2018, we recorded an inventory provision of $11.2 million included in cost of revenues, primarily due to downward revisions to previously forecasted demand levels for certain products. Of the $11.2 million of total excess and obsolete provisions, $6.8 million was related to Semiconductor Test, $2.5 million was related to Wireless Test, $1.2 million was related to System Test, and $0.7 million was related to Industrial Automation.
During the years ended December 31, 2019 and 2018, we scrapped $9.2 million and $7.0 million of inventory, respectively, and sold $3.2 million and $6.7 million of previously written-down or written-off inventory, respectively. As of December 31, 2019, we had inventory related reserves for amounts which had been written-down or written-off totaling $103.6 million. We have no pre-determined timeline to scrap the remaining inventory.
|||Deferred tax assets:|Accrued employee benefits|Allowances for loss contingencies|Deferred compensation|Intangible assets|Inventory valuation|Long-term contracts|Prepaid and accrued expenses|Retirement benefits|Tax credit carryforwards|Loss carryforwards|Other|Total gross deferred tax assets|Valuation allowance|Total deferred tax assets|Deferred tax liabilities:|Debt obligation basis difference|Deferred revenue|Intangible assets|Property, plant and equipment|Unremitted earnings|Other|Total deferred tax liabilities|Net deferred tax asset (liability)
|2019|||$ 11,409|3,561|3,071|—|8,036|6,995|1,816|4,967|33,118|36,248|818|110,039|(69,098)|40,941||(4,582)|(12,135)|(18,592)|(4,524)|(977)|(587)|(41,397)|$ (456)
September 30,|2018|(in thousands)||$ 8,285|3,518|3,272|1,361|1,154|7,751|1,229|1,398|35,137|29,097|264|92,466|(81,838)|10,628||—|(2,351)|—|(5,079)|(823)|(351)|(8,604)|$ 2,024
||Deferred tax assets:|Deferred income on shipments to distributors|Inventory valuation|Net operating loss carryforward|Capital loss carryforward|Share-based compensation|Income tax credits|Property, plant and equipment|Accrued expenses and other|Intangible assets|Other|Gross deferred tax assets|Valuation allowances|Deferred tax assets, net of valuation allowances|Deferred tax liabilities:|Convertible debt|Intangible assets|Other|Deferred tax liabilities|Net deferred tax asset (liability)|Reported as:|Non-current deferred tax assets|Non-current deferred tax liability|Net deferred tax asset (liability)
March 31,|2019||$—|45.0|94.3|9.6|42.4|376.5|23.6|91.4|1,608.1|12.6|2,303.5|(332.1)|1,971.4||(279.3)|(721.0)|—|(1,000.3)|$971.1||$1,677.2|(706.1)|$971.1
|2018||$39.1|10.7|101.1|10.6|31.4|178.4|25.7|91.2|—|—|488.2|(204.5)|283.7||(304.4)|(66.6)|(18.3)|(389.3)|$(105.6)||$100.2|(205.8)|$(105.6)
||Balance at January 1,|Additions based on tax positions related to the current year|Additions for tax positions of prior years|Reductions for tax positions of prior years|Settlements|Lapses of statutes of limitations|Balance at December 31,
|2019|$ 2,871|149|297|(300)|(58)|(89)|$ 2,870
|2018|$2,355|160|699|(248)|(40)|(55)|$ 2,871
(dollars in millions)|2017|$ 1,902|219|756|(419)|(42)|(61)|$ 2,355
|Assumptions:|Risk-free interest rate|Expected life|Expected volatility|Dividends
Upon 2018 Expiration||2.3% - 2.5%|1.8 - 2.2 Years|65% - 70%|0%
December 31, 2017||1.5% - 2.0%|2.5 - 3 Years|50% - 60%|0%
Year Ended December 31,||(In thousands)|Net cash provided by operating activities|Net cash used in investing activities|Net cash used in financing activities|Effect of exchange rate changes on cash, cash equivalents and restricted cash|Net increase (decrease) in cash, cash equivalents and restricted cash
|2019||$11,236|(1,147)|(9,106)|266|$1,249
|2018||$5,317|(3,685)|(5,292)|(880)|(4,540)
Net cash provided by operating activities is net income adjusted for certain non-cash items and changes in assets and liabilities. Net cash provided by operating activities was $11.2 million for 2019, which consisted of net income of $4.2 million, adjustments for non-cash items of $3.8 million and a $3.2 million increase in cash from changes in operating assets and liabilities. Adjustments for non-cash items primarily consisted of a $1.3 million of depreciation and amortization expense on property and equipment, a $993,000 of stock-based compensation expense and $821,000 for our share of WeekenGO losses, amortization of basis differences and currency translation adjustment. The increase in cash from changes in operating assets and liabilities primarily consisted of a $3.1 million increase in accounts payable.
Net cash provided by operating activities was $5.3 million for 2018, which consisted of a net income of $4.7 million, adjustments for non-cash items of $2.5 million, offset partially a $1.9 million decrease in cash from changes in operating assets and liabilities. Adjustments for non-cash items primarily consisted of a $1.8 million of depreciation and amortization expense on property and equipment and a $915,000 of stock-based compensation expense. The decrease in cash from changes in operating assets and liabilities primarily consisted of a $1.5 million increase in accounts receivable.
Net cash used in investing activities for 2019 and 2018 was $1.1 million and $3.7 million, respectively. The cash used in investing activities in 2019 was primarily due to $673,000 investment in WeekenGO and $474,000 in purchases of property and equipment. The cash used in investing activities in 2018 was primarily due to $3.1 million investment in WeekenGO and $752,000 in purchases of property and equipment, offset partially by $150,000 proceeds from sale of property and equipment.
Net cash used in financing activities for 2019 and 2018 was $9.1 million and $5.3 million, respectively. Net cash used in financing activities for the year ended December 31, 2019 was primarily due to $10.8 million used in repurchases of our common stock, offset partially by $1.7 million of proceeds from the issuance of common stock, net of tax paid for the net share settlement. Net cash used in financing activities for the year ended December 31, 2018 was primarily due to $5.3 million cash used in repurchases of our common stock.
||Sales (including excise taxes of $370.2 million and $368.4 million,|Cost of sales|Gross profit|Selling, general and administrative expenses|Depreciation and amortization|Impairment charges||Operating income|Other expense (income):|Interest expense|Other (income), net||Income from operations before income taxes|Income tax expense|Net income available to common shareholders|Basic earnings per share available to common shareholders|Diluted earnings per share available to common shareholders|Basic weighted average shares outstanding|Diluted weighted average shares outstanding|Dividends declared and paid per common share
Fiscal Years Ended September|2019|$1,392,388,157|1,308,364,726|84,023,431|72,182,883|2,617,591|2,873,269|77,673,743|6,349,688||1,598,864|(61,119)|1,537,745|4,811,943|1,609,000|$ 3,202,943|$ 5.36|$ 5.25|597,961|609,836|$ 1.00
|2018|$1,322,306,658|1,245,375,460|76,931,198|66,781,234|2,318,146|1,912,877|71,012,257|5,918,941||1,194,373|(54,042)|1,140,331|4,778,610|1,164,000|$  3,614,610|$  5.47|$  5.38|660,925|672,449|$  1.00
Depreciation expense related to property and equipment for the years ended December 31, 2019, 2018 and 2017 was $5.9 million, $5.7 million and $5.4 million, respectively. Amortization expense related to internal-use software of $1.9 million, $0.8 million and $0.4 million was included in those expenses for the years ended December 31, 2019, 2018 and 2017, respectively. We had no disposals and write-offs of property and equipment that impacted the consolidated statements of operations during the year ended December 31, 2019. Within the Alarm.com segment, we disposed of and wrote off $1.4 million and $0.8 million of capitalized costs to research and development expenses within the consolidated statements of operations primarily related to the design of internal-use software that no longer met the requirements for capitalization during the years ended December 31, 2018 and 2017, respectively. In December 2019, we purchased land and a commercial building located in Liberty Lake, Washington for $5.1 million. Once renovations are complete, this building will be used by OpenEye for sales and training, research and development, warehousing and administrative purposes.
||Furniture, fixtures and office equipment|Computer software and hardware|Internal-use software|Construction in progress|Leasehold improvements|Real property|Land|Total property and equipment|Accumulated depreciation
December 31,|2019|$5,604|17,767|8,949|4,232|23,223|4,917|1,398|66,090|(27,542)
|2018|$4,102|16,228|5,072|3,790|18,338|707|508|48,745|(20,988)
£m|Net rental income|Administration expenses|Net finance costs|Tax on underlying profit|Other underlying amounts2|Underlying earnings1|Revaluation of investment and development property|Change in fair value of financial
instruments|Other finance charges – exceptional|Other non-underlying amounts3|IFRS loss for the year attributable
to owners of intu properties plc1|IFRS basic loss per share (pence)|Underlying EPS (pence)
Notes|A|B|C|D|||E|F|G||||
2019|401.6|(40.5)|(224.6)|(17.6)|8.3|127.2|(1,979.7)|(75.3)|(37.7)|14.6|(1,950.9)|(145.1)p|9.5p
2018|450.5|(44.0)|(220.4)|(0.7)|7.7|193.1|(1,405.0)|86.3|(28.4)|21.8|(1,132.2)|(84.3)p|14.4p
Change|(48.9)|3.5|(4.2)|(16.9)|0.6|(65.9)|(574.7)|(161.6)|(9.3)|(7.2)|(818.7)|(60.8)p|(4.9)p
General and administrative expenses increased $38 million, or 36%, in 2019 compared to 2018. The overall increase was primarily due to increased employee compensation-related costs of $15 million, driven by headcount growth, and a one-time termination-related charge of $3 million during 2019. The overall increase was also driven by costs associated with our acquisition of Smooch in 2019 including transaction costs of $3 million and a one-time share-based compensation charge of $3 million related to accelerated stock options of Smooch. Further contributing to the overall increase was an increase in allocated shared costs of $3 million
Net cash used in investing activities. Investing activities used $1,172 million of cash in 2019, decreasing from $1,212 million in the prior year. Payments for purchase of tangible assets, net of proceeds, totaled $1,174 million, compared to $1,262 million registered in the prior-year period. The 2019 numbers also included the proceeds from matured marketable securities of $200 million and the net cash outflow of $127 million for the acquisition of Norstel.
|||Net cash from operating activities|Net cash used in investing activities|Net cash used in financing activities|Effect of changes in exchange rates|Net cash increase
|2019||$1,869|(1,172)|(343)|(13)|$341
Year Ended December 31,|2018|(In millions)|$1,845|(1,212)|(122)|(4)|$507
|2017||$1,677|(1,468)|(106)|27|$130
(ii) Balances due to Golar Power and affiliates - Receivables and payables with Golar Power and its subsidiaries are comprised primarily of unpaid management fees, advisory and administrative services. In addition, certain receivables and payables arise when we pay an invoice on behalf of a related party and vice versa. Receivables and payables are generally settled quarterly in arrears. Balances owing to or due from Golar Power and its subsidiaries are unsecured, interest-free and intended to be settled in the ordinary course of business. In December 2019, we loaned $7.0 million to Golar Power, with interest of LIBOR plus 5.0%. The loan was fully repaid, including interest, in December 2019.
|||Net property, plant and equipment(1)|Goodwill(1)(2)|Total assets(3)(4)|Total long-term debt(3)(5)|Total stockholders’ equity
|2019||$26,079|21,534|64,742|34,694|13,470
|2018||26,408|28,031|70,256|36,061|19,828
As of December 31,|2017|(Dollars in millions)|26,852|30,475|75,611|37,726|23,491
|2016||17,039|19,650|47,017|19,993|13,399
|2015||18,069|20,742|47,604|20,225|14,060
(5) Total long-term debt includes current maturities of long-term debt and finance lease obligations of $305 million for the year ended December 31, 2016 associated with assets held for sale. For additional information on our total long-term debt, see Note 7— Long-Term Debt and Credit Facilities to our consolidated financial statements in Item 8 of Part II of this report. For total contractual obligations, see “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Future Contractual Obligations” in Item 7 of Part II of this report.
(1) During 2016, as a result of our then pending sale of a portion of our colocation business and data centers, we reclassified $1.1 billion in net property, plant and equipment and $1.1 billion of goodwill to assets held for sale which is included in other current assets on our consolidated balance sheet. See Note 3—Sale of Data Centers and Colocation Business to our consolidated financial statements in Item 8 of Part II of this report, for additional information.
||Capital expenditure commitments|Estimated capital expenditure under firm contracts, payable:|Not later than one year|Later than one year, not later than two years|Later than two years, not later than five years|Total capital expenditure commitments|Operating lease commitments|Future minimum rentals under non-cancellable operating leases, payable:|Not later than one year|Later than one year, not later than five years|Later than five years|Total operating lease commitments|Total commitments for expenditure
2019|$M|||398|–|–|398|||1,998|7,415|12,378|21,791|22,189
2018|$M|||416|–|–|416|||2,089|7,484|13,331|22,904|23,320
The Group leases retail premises and warehousing facilities which are generally for periods up to 40 years. The operating lease commitments include leases for the Norwest office and distribution centres. Generally the lease agreements are for initial terms of between five and 25 years and most include multiple renewal options for additional five to 10-year terms. Under most leases, the Group is responsible for property taxes, insurance, maintenance, and expenses related to the leased properties. However, many of the more recent lease agreements have been negotiated on a gross or semi-gross basis, which eliminates or significantly reduces the Group’s exposure to operational charges associated with the properties.
€ million|Interest income|thereof finance leases|thereof from post-employment benefits plans|thereof from financial instruments of the measurement categories according to IFRS 9 (previous year: IAS39):|Interest expenses|thereof finance leases|thereof from post-employment benefits plans|thereof from financial instruments of the measurement categories according to IFRS9 (previous year: IAS39)|Interest result
2017/2018|27|(0)|(5)|(16)|−163|(−51)|(−16)|(−79)|−136
2018/2019|29|(0)|(7)|(12)|−148|(−49)|(−15)|(−69)|−119
(In thousands)|Current minimum lease payments receivable(1)|Non-current minimum lease payments receivable(2)|Total minimum lease payments receivable|Less: Current unearned revenue(1)|Less: Non-current unearned revenue(2)|Net investment in sales-type leases
December 31, 2019|$1,201|889|2,090|365|163|$1,562
December 31, 2018|$11,339|1,670|13,009|631|473|$11,905
(In millions)|Balance as of March 31, 2017|Other comprehensive loss before reclassifications|Reclassification to net income (loss)|Balance as of March 30, 2018|Other comprehensive income (loss) before reclassifications|Balance as of March 29, 2019
Foreign Currency Translation Adjustments|$7|(4)|5|8|(13)|$(5)
Unrealized Gain (Loss) On Available- For-Sale Securities|$5|(5)|(4)|(4)|3|$(1)
Equity Method Investee|$—|—|—|—|(1)|$(1)
Total AOCI|$12|(9)|1|4|(11)|$(7)