DEXTER-CQA/TAT-QA-corpus huggingface dataset:
During the preparation of the financial statements for the three months ended September 30, 2019, the Company identified a misstatement in previously issued financial statements. The misstatement related to an error in the measurement of the cumulative effect of the accounting change related to the Company’s January 1, 2018 adoption of Accounting Standards Update No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” (“ASU 2014-09” or “Topic 606”) and impacted the January 1, 2018 opening accumulated deficit balance and the related opening balances of deferred commissions assets and accrued expenses. The Company determined that the error was not material to any previously issued financial statements. The Company has revised the December 31, 2018 consolidated balance sheet and the statements of changes in stockholders’ equity for all periods after January 1, 2018 to correct the misstatement as follows (in thousands):
||Deferred commissions, current portion|Total current assets|Deferred commissions, net of current portion|Total assets|Accrued expenses|Total current liabilities|Accumulated deficit|Total stockholders’ equity|Total liabilities and stockholders’ equity
|As Previously Reported|$24,467|573,035|45,444|807,156|68,331|400,423|(529,962)|55,907|807,156
December 31, 2018|Adjustment|$1,064|1,064|10,006|11,070|1,734|1,734|9,336|9,336|11,070
|As Revised|$25,531|574,099|55,450|818,226|70,065|402,157|(520,626)|65,243|818,226
Our reporting currency is the U.S. dollar. Fluctuations in foreign currencies impact the amount of total assets and liabilities that we report for our foreign subsidiaries upon the translation of these amounts into U.S. dollars. In particular, the amount of cash and cash equivalents that we report in U.S. dollars for a significant portion of the cash held by these subsidiaries is subject to translation variance caused by changes in foreign currency exchange rates as of the end of each respective reporting period (the offset to which is recorded to accumulated other comprehensive income on our Consolidated Balance Sheets).
(In thousands)|Euro|British Pound|Canadian Dollar|Swiss Franc|Other foreign currencies|Total cash and cash equivalents denominated in foreign currencies|U.S. dollar|Total cash and cash equivalents
U.S. Dollar Equivalent at June 30, 2019|$120,417|33,703|12,635|56,776|105,273|328,804|612,205|$941,009
U.S. Dollar Equivalent at June 30, 2018|$120,346|31,211|24,590|52,652|117,459|346,258|336,684|$682,942
While we saw improvements in some areas of our business, our overall performance and stock price was negatively impacted by several significant factors: • Revenue and business momentum in our former Enterprise Security segment declined in FY19. • The Company was subject to an internal investigation, which was commenced and completed by the Audit Committee of the Board (the ‘‘Audit Committee’’) in connection with concerns raised by a former employee. • We announced a restructuring plan pursuant to which we targeted reductions of our global workforce of up to approximately 8%. • Our executive leadership team was in transition with announced executive officer departures in November 2018 and January 2019.
||Total revenue|Operating income|Net income|Net income attributable to VMware|Net income per weighted-average share attributable to VMware common stockholders, basic for Classes A and B|Net income per weighted-average share attributable to VMware common stockholders, diluted for Classes A and B|Other comprehensive income (loss)
|January 31, 2020|$777|(287)|(204)|(148)|$(0.63)|$(0.67)|$—
For the Year Ended|February 1, 2019|$639|(247)|(832)|(772)|$(1.95)|$(1.93)|$(26)
|February 2, 2018|$474|(239)|(234)|(222)|$(0.56)|$(0.56)|$35
Ratings Level (S&P/Moody's/Fitch)|A-/A3/A- or above|BBB+/Baa1/BBB+|BBB/Baa2/BBB (current level)|BBB-/Baa3/BBB-|BB+/Ba1/BB+ or lower
Facility Fee Rate|0.090%|0.100%|0.125%|0.175%|0.225%
All-in Borrowing Spread|1.000%|1.125%|1.250%|1.375%|1.625%
Standard & Poor's Rating Services', a Standard & Poor's Financial Services LLC business ("S&P"), corporate credit rating is "BBB." Moody’s Investor Service, Inc.'s ("Moody's") applicable rating is "Baa2." Fitch Ratings', a wholly owned subsidiary of Fimlac, S.A. ("Fitch"), applicable rating is "BBB." The below table outlines the fees paid on the unused portion of the facility ("Facility Fee Rate") and letter of credit fees and borrowings ("Undrawn Letter of Credit Fee and Borrowing Spread") that corresponds to the applicable rating levels from S&P, Moody's and Fitch.
|$ MILLION|Sales|EBITDA|Depreciation and amortisation|EBIT|Gross margin (%)|Cost of doing business (%)|EBIT to sales (%)|Sales per square metre ($)|Funds employed|ROFE (%)
F19|53 WEEKS|39,568|2,613|(756)|1,857|28.7|24.0|4.7|17,163|1,468|140.2
F18|52 WEEKS|37,589|2,430|(673)|1,757|29.0|24.3|4.7|16,528|1,215|170.7
|CHANGE|5.3%|7.5%|12.3%|5.7%|(24) bps|(27) bps|2 bps|3.8%|20.9%|(30.6) pts
CHANGE|NORMALISED|3.3%|6.1%|12.3%|3.8%|(24) bps|(26) bps|2 bps|2.0%||(33.2) pts
Comprehensive Income — Comprehensive income includes net income, currency translation adjustments, certain derivative-related activity, changes in the value of available-for-sale investments (prior to the adoption of Accounting Standards Update ("ASU") 2016-01), and changes in prior service cost and net actuarial gains (losses) from pension (for amounts not in excess of the 10% "corridor") and postretirement health care plans. On foreign investments we deem to be essentially permanent in nature, we do not provide for taxes on currency translation adjustments arising from converting an investment denominated in a foreign currency to U.S. dollars. When we determine that a foreign investment, as well as undistributed earnings, are no longer permanent in nature, estimated taxes will be provided for the related deferred tax liability (asset), if any, resulting from currency translation adjustments.
|Currency translation losses, net of reclassification adjustments|Derivative adjustments, net of reclassification adjustments|Unrealized gains (losses) on available-for-sale securities|Pension and post-employment benefit obligations, net of reclassification adjustments|Accumulated other comprehensive loss 1
2019|$(90.9)|34.0|—|(53.4)|$(110.3)
2018|$(94.7)|1.0|0.6|(17.4)|$(110.5)
2017|$(98.6)|(1.1)|(0.3)|(112.9)|$(212.9)
||Net cash provided by (used in) operating activities (1)|Net cash provided by (used in) investing activities|Net cash provided by (used in) financing activities|Effect of foreign currency fluctuations on cash (2)|Net increase (decrease) in cash, cash equivalents, and restricted cash
|2019|$131,731|(147,012)|(56,657)|(6,990)|$(78,928)
Fiscal Years Ended March 31,|2018|$120,761|102,364|(55,798)|9,745|$177,072
|2017|$71,667|(25,598)|(125)|(1,174)|$44,770
The Company’s subsidiary, Procoplast, has debt that consists of eighteen notes with maturities ranging from 2019 to 2031. The weighted-average interest rate was approximately 1.5% at April 27, 2019 and $3.2 million of the debt was classified as short-term. The fair value of other debt was $16.3 million at April 27, 2019 and was based on Level 2 inputs on a nonrecurring basis.
(Dollars in Millions)|Revolving Credit Facility|Term Loan|Subsidiary Credit Facility|Other Debt|Unamortized Debt Issuance Costs|Total Debt|Less: Current Maturities|Total Long-term Debt
April 27, 2019|$35.0|243.7|—|16.8|(2.9)|292.6|(15.7)|$276.9
April 28, 2018|$30.0|—|3.6|24.2|—|57.8|(4.4)|$53.4
The Company’s common stock trades on NYSE American under the trading symbol “DIT”. As of October 31, 2019 the closing price of our common stock on NYSE American was $73.00 and there were 565,942 common shares outstanding. As of that date, the Company had approximately 521 persons holding common shares beneficially of which approximately 121 are shareholders of record (including direct participants in the Depository Trust Company). The following table reflects the range of the high and low closing prices per share of the Company’s common stock reported by NYSE American for fiscal 2019 and 2018.
||4th Quarter|3rd Quarter|2nd Quarter|1st Quarter
Fiscal 2018|High|$100.00|100.00|101.51|99.75
|Low|$73.41|88.27|88.01|77.92
Fiscal 2019|High|$89.00|98.35|99.87|97.85
|Low|$ 81.10|81.30|84.10|86.61
||Investment income:|Amortised cost|Fair value through profit and loss|Foreign exchange||Financing costs:|Items in hedge relationships:|Other loans|Interest rate and cross-currency interest rate swaps|Fair value hedging instrument|Fair value of hedged item|Other financial liabilities held at amortised cost:|Bank loans and overdrafts|Bonds and other liabilities1|Interest (credit)/charge on settlement of tax issues|Fair value through profit and loss:|Derivatives – options, forward starting swaps and futures|Foreign exchange||Net financing costs
2019|€m||286|147|–|433|||17|(414)|(8)|10||336|1,567|(1)||391|190|2,088|1,655
2018|€m||339|24|322|685|||74|(128)|48|(36)||317|885|(11)||(75)|–|1,074|389
2017|€m||426|20|28|474|||170|(235)|22|(16)||419|1,243|47||(244)|–|1,406|932
Management believes that certain non-GAAP financial measures may be useful to investors in certain instances to provide additional meaningful comparisons between current

results and results in prior operating periods. Adjusted earnings before interest, taxes, depreciation, amortization and stock-based compensation (“Adjusted EBITDA”) is a

metric used by management and frequently used by the financial community. Adjusted EBITDA from operations provides insight into an organization’s operating trends and

facilitates comparisons between peer companies, since interest, taxes, depreciation, amortization and stock-based compensation can differ greatly between organizations as a

result of differing capital structures and tax strategies. Adjusted EBITDA from operations is one of the measures used for determining our debt covenant compliance. Adjusted

EBITDA from operations excludes certain items that are unusual in nature or not comparable from period to period. While management believes that non-GAAP measurements

are useful supplemental information, such adjusted results are not intended to replace our GAAP financial results. Adjusted EBITDA from operations is not, and should not be

considered, an alternative to net income (loss), operating income (loss), or any other measure for determining operating performance or liquidity, as determined under

accounting principles generally accepted in the United States (GAAP). In assessing the overall health of its business for the years ended December 31, 2019 and 2018, the

Company excluded items in the following general categories described below:
|Net loss|Interest (income) expense, net|Income tax provision (benefit)|Depreciation and amortization|EBITDA|Adjustments:|Stock-based compensation|Adjusted EBITDA
2019|$(1,934,133)|53,139|(100,363)|66,082|(1,915,275)||7,261|$(1,908,014)
2018|$(3,016,750)|(13,622)|9,623|67,107|(2,953,642)||6,404|$(2,947,238)
For the year ended December 31, 2019, the Company reported a net loss of $1,934,133 and had cash used in operating activities of $1,875,846, and ended the year with an

accumulated deficit of $125,105,539 and total current assets in excess of current liabilities of $4,187,449. At December 31, 2019, the Company had $3,300,600 of cash and

approximately $424,000 of availability on its credit facility. The credit facility is a $2,000,000 line of credit, which is subject to a borrowing base calculation based on the

Company’s eligible accounts receivable and eligible inventory each- multiplied by an applicable advance rate, with an overall limitation tied to the Company’s eligible accounts

receivable. As of December 31, 2019, we had borrowing capacity of $1,102,917 and an outstanding balance of $624,347, resulting in the approximate availability of $424,000

on the credit facility. During the twelve-month period between January 1, 2019 and December 31, 2019, the Company’s cash balance decreased from $4,678,891 to $3,300,600,

or approximately $115,000 per month. In comparison, during the twelve-month period between January 1, 2018 and December 31, 2018, the Company’s cash balance decreased

from $8,385,595 to $4,678,891, or approximately $309,000 per month. This improvement is the result of improved revenues and cost management efforts.
% Change vs. Prior|||(in thousands)|Cloud subscriptions|Software license|Maintenance|Services|Hardware|Total revenue
|Year|2019||$46,831|48,855|149,230|360,516|12,517|$617,949
|% of Total Revenue|2018||$23,104|45,368|147,033|329,685|13,967|$559,157
||2017||$9,596|72,313|142,988|326,502|43,190|$594,599
||2019||103%|8%|1%|9%|-10%|11%
||2018||141%|-37%|3%|1%|-68%|-6%
||2019||8%|8%|24%|58%|2%|100%
||2018||4%|8%|26%|59%|3%|100%
||2017||2%|12%|24%|55%|7%|100%
Services Revenue Year 2019 compared with year 2018 Services revenue increased $30.8 million, or 9%, in 2019 compared to 2018. The Americas, EMEA and APAC segments increased $17.8 million, $10.3 million and $2.7 million, respectively, compared to 2018.
Year 2019 compared with year 2018
Services revenue increased $30.8 million, or 9%, in 2019 compared to 2018. The Americas, EMEA and APAC segments increased $17.8 million, $10.3 million and $2.7 million, respectively, compared to 2018.
Cloud Subscriptions Revenue Year 2019 compared with year 2018 In 2017, we released Manhattan Active™ Solutions accelerating our business transition to cloud subscriptions. As a result, cloud subscriptions revenue increased $23.7 million, or 103%, to $46.8 million in 2019 compared to 2018 as customers began to purchase. our SaaS offerings rather than a traditional perpetual license. Our customers increasingly prefer cloud-based solutions, including existing customers that are migrating from on-premise to cloud-based offerings. Cloud subscriptions revenue for the Americas, EMEA and APAC segments increased $20.3 million, $2.7 million and $0.7 million, respectively.
Software License Revenue Year 2019 compared with year 2018 Software license revenue increased $3.5 million to $48.9 million in 2019 compared to 2018. License revenue for the Americas and EMEA segments increased $6.1 million and $0.1 million, respectively, and license revenue for the APAC segment decreased $2.7 million, in 2019 over 2018. The perpetual license sales percentage mix across our product suite in 2019 was approximately 80% warehouse management solutions.
||Net income|Interest expense|Tax expense (benefit)|Depreciation and amortization|Equity-based compensation expense(1)|Change in financial guarantee liability(2)|Transaction expenses(3)|Non-recurring expenses(4)|Adjusted EBITDA
|2019|$95,973|23,860|(7,125)|7,304|13,769|16,215|11,345|2,804|$164,145
Year Ended December 31,|2018|$127,980|23,584|5,534|4,478|6,054|—|2,393|—|$170,023
|2017|$138,668|7,536|—|3,983|4,253|—|2,612|—|$157,052
The assets held in the investment fund in the preceding table are invested in a diversified growth fund actively managed by Russell Investments in association with Aon Hewitt. The objective of the fund is to generate capital appreciation on a longterm basis through a diversified portfolio of investments. The fund aims to deliver equity-like returns in the medium to long term with around two-thirds the volatility of equity markets. The fair value of the assets held in the investment fund are priced monthly at net asset value without restrictions on redemption.
|||Insurance contracts|Other investments|Total assets measured at fair value|Cash|Investment Fund valued using net asset value|Total pension plan assets at fair value
Fiscal Year Ended January 31,|2019|Level 1|$—|—|$—|||
||Level 2|$28.0|14.5|$42.5|||
||Level 3|$—|—|$—|||
||Total|$28.0|14.5|$42.5|4.3|34.0|$80.8
|2018|Total|$53.0|17.0|70.0|0.2|50.9|$121.1
||Derivative assets carried at fair value through profit or loss (FVTPL)|Interest rate swaps|Forward foreign exchange contracts|Derivative assets designated and effective as hedging instruments carried at fair value|Cross currency swaps|Total|Derivative financial instruments, current assets|Derivative financial instruments, non-current assets|Total
As of December 31,|2018||15,188|—||—|15,188|6,222|8,966|15,188
|2019||18|389||3,594|4,001|429|3,572|4,001
||Numerators|Numerator for basic and diluted earnings per share:|Net income|Denominators|Denominators for basic and diluted earnings per share:|Weighted average shares outstanding - basic|Dilutive potential common shares|Stock options and awards|Denominator for diluted earnings per share|Net income per common share - basic|Net income per common share – diluted
Year ended December 31,|2019|||$13,267|||17,424||1,101|18,525|$0.76|$0.72
|2018|||$3,654|||20,721||296|21,017|$0.18|$0.17
|Balance as of October 1, 2017|Accrued costs|Cash payments|Balance as of September 30, 2018|Accrued costs|Cash payments|Balance as of September 30, 2019
Restructuring Liability Employee Separation and other|$ 1.0|4.2|(4.6)|$  0.6|7.5|(6.1)|$  2.0
Restructuring Liability Consulting Costs|$  —|0.8|(0.5)|$  0.3|7.9|(7.4)|$  0.8
|Years Ended December 31,|Cost of services |Cost of wireless equipment |Selling, general and administrative expense |Depreciation and amortization expense |Total Operating Expenses 
|2019|$10,655|4,733|8,188|4,105|$ 27,681
|2018|$10,859|4,560|7,689|4,258|$ 27,366
(dollars in millions) Increase/ (Decrease)|2019 vs. 2018|$(204)|173|499|(153)|$ 315
||(1.9)%|3.8|6.5|(3.6)|1.2
||Product Revenue|Altium Designer software licenses|Altium Designer subscriptions|Octopart search advertising|TASKING software licenses|TASKING maintenance|Altium Nexus|Service revenue|Other|Total Product Revenue
|2019|US$’000|62,377|58,468|17,940|12,293|5,741|6,635|3,655|4,710|171,819
Consolidated|2018|US$’000|51,309|51,522|11,968|8,526|4,709|4,848|4,833|2,461|140,176
|Change|%|22%|13%|50%|44%|22%|37%|(25%)|91%|23%
Net debt consists of loans and other borrowings (both current and non-current), less current asset investments and cash and cash equivalents. Loans and other borrowings are measured at the net proceeds raised, adjusted to amortise any discount over the term of the debt. For the purpose of this measure, current asset investments and cash and cash equivalents are measured at the lower of cost and net realisable value. Currency denominated balances within net debt are translated to sterling at swapped rates where hedged.
At 31 March|Loans and other borrowings|Less:|Cash and cash equivalents|Current asset investments||Adjustments:|To retranslate debt balances at swap rates where hedged by currency swaps|To remove accrued interest applied to reflect the effective interest method and fair value adjustments|Net debt
2019 £m|16,876||(1,666)|(3,214)|11,996||(701)|(260)|11,035
2018 £m|14,275||(528)|(3,022)|10,725||(874)|(224)|9,627
2017 £m|12,713||(528)|(1,520)|10,665||(1,419)|(314)|8,932
|Towers|Equipment (2)|Buildings and improvements|Land and improvements (3)|Construction-in-progress|Total|Less accumulated depreciation|Property and equipment, net
Estimated Useful Lives (years) (1)|Up to 20|2 - 20|3 - 32|Up to 20||||
December 31, 2019|$13,930.7|1,897.3|638.9|2,486.1|372.6|19,325.6|(7,241.2)|$12,084.4
December 31, 2018|$12,777.9|1,667.3|628.5|2,285.4|358.1|17,717.2|(6,470.1)|$11,247.1
||Value added from:|Operating revenue|Less: Purchases of goods and services||Other income|Interest and investment income (net)|Share of results of associates (post-tax)|Exceptional items (1)||Total value added|Distribution of total value added|To employees in wages, salaries and benefits|To government in income and other taxes|To providers of capital on:|- Interest on borrowings|- Dividends to shareholders|Total distribution|Retained in business|Depreciation and amortisation|Retained profits|Non-controlling interests||Total value added|Average Number of employees
FY 2019|S$ million||17,372|(10,307)|7,065|225|38|1,563|68|1,894|8,959||2,597|675||393|2,857|6,522||2,222|238|(23)|2,437|8,959|24,071
FY 2018|S$ million||17,268|(9,716)|7,552|259|45|1,804|1,895|4,003|11,555||2,760|703||390|3,346|7,199||2,250|2,127|(21)|4,356|11,555|25,614
Net cash used in investing activities decreased by $250.0 million, from $693.0 million during the year ended December 31, 2018 to $443.0 million during the year ended December 31, 2019. The decrease is attributable to a decrease of $203.7 million in net cash used in payments for the construction costs of newbuildings and other fixed assets, a net increase of $45.5 million in cash from short-term investments in the year ended December 31, 2019, compared to the same period of 2018 and an increase of $0.8 million in cash from interest income.
Net cash provided by financing activities decreased by $318.0 million, from $368.1 million during the year ended December 31, 2018 to $50.1 million during the year ended December 31, 2019. The decrease is mainly attributable to an increase of $316.0 million in bank loan repayments, a decrease of $208.4 million in proceeds from the GasLog Partners’ issuance of preference units, a decrease of $60.4 million in proceeds from the GasLog Partners’ common unit offerings, an increase of $46.7 million in payments for NOK bond repurchase at a premium, an increase of $26.6 million in cash used for purchases of treasury shares or common units of GasLog Partners, an increase of $18.5 million in payments of loan issuance costs, an increase of $15.4 million in dividend payments on common and preference shares, an increase of $3.7 million in payments for cross currency swaps’ termination, an increase of $2.6 million in payments for lease liabilities, an increase of $0.8 million in payments for equity-related costs and a decrease of $0.5 million in proceeds from stock option exercise, partially offset by an increase of $381.6 million in proceeds from borrowings.
|Loss on sale of business|Income from discontinued operations before income taxes and equity method investment earnings|Income before income taxes and equity method investment earnings .|Income tax expense (benefit) .|Income (loss) from discontinued operations, net of tax
2019|$—|0.9|0.9|—|$0.9
2018|$—|0.4|0.4|0.5|$(0.1)
2017|$(1.6)|3.9|2.3|(0.3)|$2.6
The Company has certain defined contribution plans, which accrue benefits for employees on a pro-rata basis during their employment period based on their individual salaries. The Company’s accrued benefits related to defined contribution pension plans of $20 million as of December 31, 2019 and $18 million as of December 31, 2018. The annual cost of these plans amounted to approximately $86 million in 2019, $84 million in 2018 and $77 million in 2017.
|Revenue|Time charter, voyage and port terminal expenses|Direct vessel expenses|General and administrative expenses|Depreciation and amortization|Interest expense and finance cost|Other expense, net|Net (loss)/income from discontinued operations|Less: Net loss/(income) attributable to the noncontrolling interest|Net (loss)/income attributable to Navios Holdings common stockholders
Period from January 1 to August 30, 2019|$89,925|(3,976)|(44,088)|(6,706)|(22,858)|(10,519)|(5,896)|$(4,118)|$3,968|$(150)
Period from November 30 to December 31, 2018|$12,053|(546)|(5,282)|(873)|(3,060)|(1,204)|(336)|$752|$(725)|$27
|||Balance at beginning of year|Additions (reductions) for tax positions taken in prior years|Recognition of benefits from expiration of statutes|Additions for tax positions related to the current year|Reductions for tax positions related to acquisitions|Balance at end of year
|2019||$ 9,942|8,458|(776)|951|—|$18,575
September 30,|2018|(in thousands)|$ 13,248|(80)|(1,770)|713|(2,169)|$9,942
At September 30, 2019 and 2018, the amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate was $0.7 million and $1.8 million, respectively. During fiscal year 2020, it is reasonably possible that resolution of reviews by taxing authorities, both domestic and foreign, could be reached with respect to an immaterial amount of net unrecognized tax benefits depending on the timing of examinations or expiration of statutes of limitations, either because our tax positions are sustained or because we agree to the disallowance and pay the related income tax. We recognize interest and/or penalties related to income tax matters in income tax expense. The amount of net interest and penalties recognized as a component of income tax expense during fiscal 2019 and 2018 were not material.