DEXTER-CQA/TAT-QA-corpus huggingface dataset:
During the quarter ended December 31, 2019, we purchased a group annuity contract to transfer the pension benefit obligations and annuity administration for a select group of retirees or their beneficiaries to an annuity provider. As a result of the transfer of the pension liability to the annuity provider and other lump sum payments to participants of the Pension Plans, we recognized a non-cash pension settlement charge of $6.7 million during the quarter ended December 31, 2019.
|2019||Net revenues|Operating income|Net income (loss) attributable to common stockholders|Basic and diluted earnings (loss) per share
|March 31,||$338,649|$16,720|$(7,265)|$(0.11)
Quarter Ended|June 30,|(In thousands, except per share amounts)|$333,532|$14,300|$(7,387)|$(0.10)
|September 30,||$333,326|$23,542|$257|$—
|December 31,||$331,035|$26,719|$(5,988)|$(0.08)
|Net cash provided by (used for):|Operating activities|Investing activities|Financing activities|Net effect of changes in foreign currency exchange rates on cash and cash equivalents, and restricted cash|Net increase in cash and cash equivalents, and restricted cash
2019||$3,752.6|(3,987.5)|521.7|(13.7)|$273.1
2018||$3,748.3|(2,749.5)|(607.7)|(41.1)|$350.0
2017||$2,925.6|(2,800.9)|(113.0)|6.7|$18.4
|Cost:|Patents|Domain name|Client Base (1)|Trademark (1)|Backlog (1)|Technology||Less: Accumulated amortization|Intangible assets, net
2019||$1,801,000|22,000|144,000|18,000|13,000|77,000|2,075,000|(499,000)|$ 1,576,000
2018||$1,507,000|22,000|142,000|17,000|13,000|77,000|1,778,000|(404,000)|$ 1,374,000
Intangible assets include patents, domain name and other intangibles purchased from GVR, including customer relationships, technology and a trademark. Certain patents were acquired from STI as a result of an asset contribution and were recorded at their carryover basis. The fair value of the patents remained substantially the same as their carrying value at the exchange date. In addition, we acquired other patents and the domain name www.resonant.com through the normal course of business. Intangibles acquired as part of the purchase of GVR were initially recorded at their fair value. Issued patents are amortized over their approximate useful life of 17 years, or 20 years in the case of new patents, once they are approved by their respective regulatory agency. For the patents acquired from STI, we are amortizing them over the remaining useful life of 1 to 11 years as of December 31, 2019. The domain name is amortized over the approximate useful life of 10 years. The other intangibles acquired from GVR are amortized over their useful life of three to five years.
|(In thousands)|Cash flows provided by (used in):|Operating activities|Investing activities|Financing activities|Increase (decrease) in cash and cash equivalents
|2019||$ 339,096|(217,819)|(118,481)|$ 2,796
Years Ended December 31,|2018||$ 357,321|(221,459)|(141,920)|$ (6,058)
|2017||$ 210,027|(1,042,711)|821,264|$ (11,420)
||Cash, cash equivalents and short-term investments|Working capital|Total assets|Total debt|Total deferred revenue and financed unearned services revenue|Total stockholders' equity
April 26, 2019||$ 3,899|$ 1,743|$ 8,741|$ 1,793|$ 3,668|$ 1,090
April 27, 2018 (2)||$ 5,391|$ 3,421|$ 9,991|$ 1,926|$ 3,363|$ 2,276
April 28, 2017 (2)||$ 4,921|$ 2,178|$ 9,562|$ 1,993|$ 3,213|$ 2,949
April 29, 2016|(In millions)|$ 5,303|$ 2,786|$ 10,037|$ 2,339|$ 3,385|$ 2,881
April 24, 2015||$ 5,326|$ 4,064|$ 9,401|$ 1,487|$ 3,197|$ 3,414
||Equity compensation plans approved by security holders|Equity compensation plans not approved by security holders|Total
Number of securities to be issued upon exercise of outstanding options and rights|(a)|445,000(1)|500,000(2)|945,000
Weighted-average exercise price of outstanding options and rights|(b)|$2.34(3)|$1.19|$1.39(3)
Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column(a))|(c)|1,780,505|—|1,780,505
Our 2013 Stock Incentive Plan (“2013 Plan”) provides for the grant of any or all of the following types of awards: (a) stock options, (b) restricted stock, (c) deferred stock, (d) stock appreciation rights, and (e) other stock-based awards including restricted stock units. Awards under the 2013 Plan may be granted singly, in combination, or in tandem. Subject to standard anti-dilution adjustments as provided in the 2013 Plan, the 2013 Plan provides for an aggregate of 2,600,000 shares of our common stock to be available for distribution pursuant to the 2013 Plan. The Compensation Committee (or the Board of Directors) will generally have the authority to administer the 2013 Plan, determine participants who will be granted awards under the 2013 Plan, the size and types of awards, the terms and conditions of awards and the form and content of the award agreements representing awards. Awards under the 2013 Plan may be granted to our employees, directors and consultants. As of December 31, 2019, there were options to purchase an aggregate of 605,000 shares of common stock outstanding and 340,000 shares issuable upon vesting of outstanding restricted stock units granted under the 2013 Plan, and a balance of 1,780,505 shares of common stock are reserved for issuance under the 2013 Plan.
The Company performs its annual assessment of indefinite-lived intangible assets on October 31 each year or more frequently if events or changes in circumstances indicate that the asset might be impaired utilizing a qualitative test as a precursor to the quantitative test comparing the fair value of the assets with their carrying amount. Based on the qualitative test, if it is more likely than not that indicators of impairment exists, the Company proceeds to perform a quantitative analysis. Based on the Company’s assessment as of October 31, 2019, no indicators of impairment were identified.
||Furniture and equipment|Leasehold improvements (1)|System hardware|Office computers|Computer and system software||Less accumulated depreciation and amortization|Property and equipment, net
|Useful life in years|5|5|5|3|3|||
As of December 31,|2019|$1,785|4,074|1,596|5,309|1,451|14,215|(7,931)|$6,284
|2018|$1,189|2,776|1,404|3,745|1,385|10,499|(5,849)|$4,650
Contract assets, reported within current assets and other long-term assets in the consolidated balance sheets, primarily result from revenue being recognized when a license is delivered and payments are made over time. Contract liabilities primarily relate to advance consideration received from customers, deferred revenue, for which transfer of control occurs, and therefore revenue is recognized, as services are provided. Contract balances are reported in a net contract asset or liability position on a contract-by-contract basis at the end of each reporting period. The Company recognized $4.4 million of revenue during the year ended September 30, 2019 that was included in the contract liability balance at the beginning of the period.
Note: (1) The non-audit fees for the current financial year ended 31 March 2019 included S$0.4 million and S$0.2million paid to KPMG LLP, Singapore and KPMG, Australia in respect of tax services, certification and review for regulatory purposes. In the previous financial year, the non-audit fees included S$0.2 million and S$0.3 million paid to Deloitte & Touche LLP, Singapore, and Deloitte Touche Tohmatsu, Australia, respectively in respect of tax services, certification and review for regulatory purposes.
|||Operating expenses included the following:|Auditors' remuneration|- KPMG LLP, Singapore|- KPMG, Australia|- Other KPMG offices|- Deloitte & Touche LLP, Singapore|- Deloitte Touche Tohmatsu, Australia|- Other Deloitte & Touche offices|Non-audit fees (1) paid to|- KPMG LLP, Singapore|- KPMG, Australia|- Other KPMG offices|- Deloitte & Touche LLP, Singapore|- Deloitte Touche Tohmatsu, Australia|- Other Deloitte & Touche offices|Impairment of trade receivables|Allowance for inventory obsolescence|Operating lease payments
Group|2019|S$ Mil|||2.4|1.2|1.3|-|-|-||0.4|0.4|0.1|- -|-|-|121.8|1.1|437.2
|2018|S$ Mil|||-|-|-|1.5|1.2|2.1||-|-|-|0.3|0.3|0.2|128.0|7.1|470.7
|(In thousands)|Cost of revenue:|Software delivery, support and maintenance|Client services|Total cost of revenue|Selling, general and administrative expenses|Research and development|Total stock-based compensation expense
|2019||$ 2,075|4,067|6,142|27,348|9,200|$ 42,690
Year Ended December 31,|2018||$ 2,184|3,997|6,181|24,213|8,937|$ 39,331
|2017||$ 2,879|4,484|7,363|23,497|8,605|$ 39,465
Enterprise d|Adjusteda revenue £6,292m||Year to 31 March|Adjusted a revenue|Adjusted a operating costs|Adjusted a EBITDA|Depreciation & amortisation|Adjusted a operating profit|Capital expenditure|Normalised free cash flow b
||2019 (IFRS 15)|£m|6,292|4,302|1,990|634|1,356|501|1,483
||2018 (IAS 18)|£m|6,647|4,570|2,077|635|1,442|492|1,587
|Adjusteda operating profit £1,356m|Change|£m|(355)|(268)|(87)|(1)|(86)|9|(104)
|||%|(5)|(6)|(4)|-|(6)|2|(7)
||Beginning balance, as of January 1|Additions:|Tax positions for current year|Tax positions for prior years|Reductions:|Tax positions for prior years|Expiration of statutes|Settlements with tax authorities|Ending balance, as of December 31
2019||$43,395||1,322|8,043||(31,397)|(183)|—|$21,180
2018|(in thousands)|$36,263||4,716|2,626||(153)|(57)|—|$43,395
2017||$38,958||8,208|199||(10,573)|(325)|(204)|$36,263
Selling, general and administrative: Selling, general and administrative expenses from our Life Sciences segment for the year ended December 31, 2019 decreased $5.0 million to $8.6 million from $13.6 million for the year ended December 31, 2018. The decrease was driven by comparably fewer expenses at the Pansend holding company, which incurred additional compensation expense in the prior period related to the performance of the segment. The decrease was also due to a reduction in costs associated with the sale of BeneVir in the second quarter of 2018.
In prior years, Singtel had sold certain infrastructure assets, namely ducts, manholes and exchange buildings (“Assets”) to NLT. At the consolidated level, the gain on disposal of Assets recognised by Singtel is deferred in the Group’s statement of financial position and amortised over the useful lives of the Assets. The unamortised deferred gain is released to the Group’s income statement when NLT is partially or fully sold, based on the proportionate equity interest disposed.
Singtel sold its 100% interest in NLT to NetLink NBN Trust (the “Trust”) in July 2017 for cash as well as a 24.8% interest in the Trust. Net deferred gains of S$1.10 billion were correspondingly released to the Group’s income statement in the previous financial year upon this sale. Following the divestment, Singtel ceased to own units in NLT but continues to have an interest of 24.8% in the Trust which owns all the units in NLT.

Singtel sold its 100% interest in NLT to NetLink NBN Trust (the “Trust”) in July 2017 for cash as well as a 24.8% interest in the Trust. Net deferred gains of S$1.10 billion were correspondingly released to the Group’s income statement in the previous financial year upon this sale. Following the divestment, Singtel ceased to own units in NLT but continues to have an interest of 24.8% in the Trust which owns all the units in NLT.
||||Unamortised deferred gain|Reclassification from ‘Associates’ (see Note 23)|Net deferred gain|Classified as –|Current|Non-current|
|31 March|2019|S$ Mil|446.3|(50.5)|395.8||20.8|375.0|395.8
Group|31 March|2018|S$ Mil|452.7|(74.9)|377.8||20.1|357.7|377.8
|1 April|2017|S$ Mil|1,616.5|(265.0)|1,351.5||68.8|1,282.7|1,351.5
Revenues and related costs on construction contracts are recognized as the performance obligations are satisfied over time in accordance with ASC 606, Revenue from Contracts with Customers. Under ASC 606, revenue and associated profit, will be recognized as the customer obtains control of the goods and services promised in the contract (i.e., performance obligations). The cost of uninstalled materials or equipment will generally be excluded from the Company’s recognition of profit, unless specifically produced or manufactured for a project, because such costs are not considered to be a measure of progress.
||Beginning balance|Additions charged to expenses|Accruals related to acquisitions|Deductions from reserves|Ending balance
|2019|$4,568|5,210|—|(1,088)|$8,690
Fiscal|2018|$6,890|1,980|37|(4,339)|$4,568
|2017|$2,420|4,190|4,390|(4,110)|$6,890
||Current:|U.S.|Non-U.S.|Total Current|Deferred:|U.S.|Non-U.S.|Total Deferred|Total provision for income taxes
|2019||$(391)|10,666|10,275||558|3,287|3,845|$14,120
Years Ended December 31,|2018||$(397)|12,538|12,141||(330)|(240)|(570)|$11,571
|2017||$1,635|7,150|8,785||17,597|(577)|17,020|$25,805
|||Salary|Salary supplement|Taxable benefits|Pension|Annual Bonus|Share based awards|Total
Gavin Darby|2018/19|£’000|583|–|17|117|525|–|1,242
|2017/18|£’000|700|–|22|140|368|–|1,230
Alastair Murray|2018/19|£’000|416|40|27|36|232|–|751
|2017/18|£’000|408|–|24|35|153|–|620
Mr Darby received a basic salary of £700,000 per annum and a salary supplement in lieu of pension of 20% of base salary on a pro rata basis for the period up to 31 January 2019. Mr Darby received a pro rata bonus of £525,500 for the financial period to 31 January 2019. Benefits were provided for the period up to 31 January 2019 relating to the provision of an executive driver service, private health insurance and annual medical assessment.
Mr Murray received a basic salary for the period of £416,201 per annum and an annualised supplement in lieu of pension of 7.5% of the Earnings Cap (£160,800 for the 2018/19 tax year) which equates to £12,060 for the period together with an additional RPI adjusted pensions supplement of £24,348. He was appointed Acting CEO on 1 February 2019, in addition to his current role of Chief Financial Officer, on a temporary basis whilst the Board conducts a search process for a new CEO.
We employ various tools to monitor our derivative risk, including value-at-risk ("VaR") models. We perform simulations using historical data to estimate potential losses in the fair value of current derivative positions. We use price and volatility information for the prior 90 days in the calculation of VaR that is used to monitor our daily risk. The purpose of this measurement 45 is to provide a single view of the potential risk of loss associated with derivative positions at a given point in time based on recent changes in market prices. Our model uses a 95% confidence level. Accordingly, in any given one-day time period, losses greater than the amounts included in the table below are expected to occur only 5% of the time. We include commodity swaps, futures, and options and foreign exchange forwards, swaps, and options in this calculation. The following table provides an overview of our average daily VaR for our energy, agriculture, and foreign exchange positions for fiscal 2019 and 2018.
In February 2018, the FASB released ASU 2018-02, “Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income.” This standard update addresses a specific consequence of the Tax Cuts and Jobs Act (“U.S. Tax Reform”) and allows a reclassification from accumulated other comprehensive income to retained earnings for the stranded tax effects resulting from U.S. tax reform. Consequently, the update eliminates the stranded tax effects that were created as a result of the historical U.S. federal corporate income tax rate to the newly enacted U.S. federal corporate income tax rate. The Company adopted this standard in the first quarter of fiscal year 2019 using a modified-retrospective approach through a cumulative-effect adjustment directly to retained earnings. The adoption of this standard resulted in a $2.2 million increase to retained earnings, with a corresponding $2.2 million decrease to other comprehensive income.
In August 2018, the Securities and Exchange Commission (“SEC”) adopted amendments to eliminate, integrate, update or modify certain of its disclosure requirements. The amendments are part of the SEC’s efforts to improve disclosure effectiveness and were focused on eliminating disclosure requirements that have become redundant, duplicative, overlapping, outdated, or superseded. The Company adopted these amendments in the first quarter of fiscal Year 2019. The adoption of these amendments resulted in minor changes within its Consolidated Financial Statements.
Description|Allowance for doubtful accounts|2019|2018|2017|Allowance for sales returns (4)|2019|2018|2017|Allowance for inventory returns (5)|2019|2018|2017|Allowance for deferred tax assets|2019|2018|2017
Balance at Beginning of Period||$1.0|$1.1|$9.1||$0.0|$0.0|$1.4||$0.0|$0.0|$(0.6)||$18.3|$18.3|$69.0
||$1.0|$0.7|$1.0||$0.0|$0.0|$1.4||$0.0|$0.0|$(0.5)||$(0.3)|$(0.3)|$(28.6)
Write-offs||$(0.8)|$(0.8)|$(0.9)||$0.0|$0.0|$0.0||$0.0|$0.0|$0.0||$0.0|$0.0|$(2.9)
Other||$0.0|$0.0|$0.0||$0.0|$0.0|$(1.4) (3)||$0.0|$0.0|$0.6 (3)||$(1.2)|$0.3|$(19.2)
Balance at End of Period||$1.2 (1)|$1.0 (1)|$1.1 (1) (2)||$0.0|$0.0|$1.4||$0.0|$0.0|$(0.5)||$16.8)|$18.3|$18.3
||Basic earnings/(loss) per share|Profit/(loss) for the year attributable to owners of the Group|Less: Dividends on Preference Shares|Profit/(loss) for the year available to owners of the Group|Weighted average number of shares outstanding, basic|Basic earnings/(loss) per share|Diluted earnings/(loss) per share|Profit/(loss) for the year available to owners of the Group used in the calculation of diluted EPS|Weighted average number of shares outstanding, basic|Dilutive potential ordinary shares|Weighted average number of shares used in the calculation of diluted EPS|Diluted earnings/(loss) per share
|2017||15,506|(10,064)|5,442|80,622,788|0.07||5,442|80,622,788|643,342|81,266,130|0.07
For the year ended December 31,|2018||47,683|(10,063)|37,620|80,792,837|0.47||37,620|80,792,837|844,185|81,637,022|0.46
|2019||(100,661)|(10,063)|(110,724)|80,849,818|(1.37)||(110,724)|80,849,818|—|80,849,818|(1.37)
($ in millions except per share amounts)|For the year ended December 31:|Revenue|Net Income|Income from continuing operations|Operating (non-GAAP) earnings**|Earnings per share of common stock—continuing operations|Assuming dilution|Basic|Diluted operating (non-GAAP)**|Net cash provided by operating activities|Capital expenditures, net|Share repurchases|Cash dividends paid on common stock|Per share of common stock|At December 31:|Cash, cash equivalents, restricted cash and marketable securities|Total assets|Working capital|Total debt|Total equity|Common shares outstanding (in millions)|Stock price per common share
|2019|$ 77,147|9,431*|9,435*|$ 11,436||10.57*|10.63|$  12.81|$ 14,770|$  2,370|$  1,361|$  5,707|$   6.43|2019|$  9,009|$152,186|$    718|$ 62,899|$ 20,985|887|$ 134.04
|2018|$ 79,591|8,728*|8,723*|$ 12,657||9.51*|9.56*|$  13.81|$ 15,247|$  3,716|$  4,443|$  5,666|$   6.21|2018|$ 12,222|$123,382|$ 10,918|$ 45,812|$ 16,929|892|$ 113.67
In periods with a net income from continuing operations attributable to Cubic, diluted EPS is computed by dividing the net income for the period by the weighted average number of common and common equivalent shares outstanding during the period. Common equivalent shares consist of dilutive RSUs. Dilutive RSUs are calculated based on the average share price for each fiscal period using the treasury stock method. For RSUs with performance-based vesting, no common equivalent shares are included in the computation of diluted EPS until the related performance criteria have been met. For RSUs with performance and market-based vesting, no common equivalent shares are included in the computation of diluted EPS until the performance criteria have been met, and once the criteria are met the dilutive restricted stock units are calculated using the treasury stock method, modified by the multiplier that is calculated at the end of the accounting period as if the vesting date was at the end of the accounting period. The multiplier on RSUs with performance and market-based vesting is further described in Note 16.
(1) Includes $21.5 million, $16.3 million and $51.3 million recorded in the EMS segment, $2.6 million, $16.6 million and $82.4 million recorded in the DMS segment and $1.8 million, $4.0 million and $26.7 million of non-allocated charges for the fiscal years ended August 31, 2019, 2018 and 2017, respectively. Except for asset write-off costs, all restructuring and related charges are cash settled.
|(dollars in millions)|Employee severance and benefit costs|Lease costs|Asset write-off costs|Other costs|Total restructuring and related charges (1)
|2019|$16.0|—|(3.6)|13.5|$25.9
Fiscal Year Ended August 31,|2018|$16.3|1.6|16.2|2.8|$36.9
|2017(2)|$56.8|4.0|94.3|5.3|$160.4
(In thousands)|Current|Federal|State|International|Total Current|Deferred|Federal|State|International|Total Deferred|Total Income Tax Expense (Benefit)
2019||$(518)|(1,065)|(282)|(1,865)||24,801|5,815|(546)|30,070|$28,205
2018||$(8,001)|(476)|11,705|3,228||(14,448)|(3,390)|581|(17,257)|$(14,029)
2017||$466|(150)|6,458|6,774||8,024|1,882|4,167|14,073|$20,847
|Revenues|FEI-NY|FEI-Zyfer|Less intersegment revenues||Cost of Revenues|Gross profit|Selling and Administrative expenses|Research and Development expenses|Operating Profit/(Loss)|Other Income (Expenses), net|Provision (Benefit) for Income Taxes|Loss from continuing operations|(Loss) Income from discontinued operations, net of tax|Loss on sale of discontinued operations|Net Loss
2019||76.9%|24.7|(1.6)|100.0|68.1|31.9|24.5|13.1|(5.7)|0.7|0.1|(5.1)|-|-|(5.1)%
2018||68.4%|38.8|(7.2)|100.0|86.9|13.1|26.9|17.6|(31.4)|2.8|28.4|(57.0)|(2.5)|(0.9)|(60.4)%
||Unrecognized tax benefit, beginning balance|Additions based on tax positions related to the current year|Additions based on tax positions from prior years|Reductions for tax positions of prior years|Reductions due to lapse of the applicable statute of limitations|Unrecognized tax benefit, ending balance|Interest and penalties recognized as a component of Provision (benefit) for income taxes|Interest and penalties accrued at period end
|December 28, 2019|$25,224|3,679|—|(5)|(98)|$28,800|$59|212
Fiscal Year Ended|December 29, 2018|$18,296|1,677|5,332|(7)|(74)|$25,224|$71|230
|December 30, 2017|$17,978|694|—|—|(376)|$18,296|$67|218
At December 28, 2019, our tax years 2016 through 2019, 2015 through 2019 and 2014 through 2019, remain open for examination in the federal, state and foreign jurisdictions, respectively. However, to the extent allowed by law, the taxing authorities may have the right to examine prior periods where net operating losses and credits were generated and carried forward, and make adjustments up to the net operating loss and credit carryforward amounts.
€ thousands|Christian Klein (Co-CEO from 10/11/2019)|Adaire Fox-Martin|Michael Kleinemeier|Bernd Leukert (until 3/31/2019)|Bill McDermott (CEO until 10/10/2019, Executive Board Member until 11/15/2019)1)|Luka Mucic|Jürgen Müller (from 1/1/2019)|Stefan Ries|Thomas Saueressig (from 11/1/2019)
Vested on 12/31/2019|8.2|11.8|20.0|34.7|90.8|27.6|4.8|16.8|0.2
Vested on 12/31/2018|4.1|7.3|14.8|24.6|105.1|23.2|-|12.6|-
||Amounts paid in the year:|Final dividend for the year ended 31st December 2018 of 71.0p (2017: 62.0p) per share|Interim dividend for the year ended 31st December 2019 of 32.0p (2018: 29.0p) per share|Total dividends paid|Amounts arising in respect of the year:|Interim dividend for the year ended 31st December 2019 of 32.0p (2018: 29.0p) per share|Proposed final dividend for the year ended 31st December 2019 of 78.0p (2018: 71.0p) per share|Total dividends arising
2019|£m||52.3|23.6|75.9||23.6|57.5|81.1
2018|£m||45.7|21.3|67.0||21.3|52.3|73.6
(1) Service and other revenues included in our Business segment amounted to approximately $27.9 billion and $28.1 billion for the years ended December 31, 2019 and 2018, respectively. Wireless equipment revenues included in our Business segment amounted to approximately $3.5 billion and $3.4 billion for the years ended December 31, 2019 and 2018, respectively. (2) As of end of period (3) Includes certain adjustments