DEXTER-CQA/TAT-QA-corpus huggingface dataset:
Corporate and Other

Corporate and Other includes corporate-level activity not specifically allocated to a segment, including restructuring expenses.

Fiscal Year 2019 Compared with Fiscal Year 2018

We did not incur Corporate and Other activity in fiscal years 2019 or 2018.

Fiscal Year 2018 Compared with Fiscal Year 2017

Corporate 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.
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.
Revenue increased $6.8 billion or 21%.

• 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.

• Enterprise Services revenue increased $278 million or 5%, driven by growth in Premier Support Services and Microsoft Consulting Services.
(In millions, except percentages)|Revenue|Productivity and Business Processes|Intelligent Cloud|More Personal Computing|Total||Productivity and Business Processes|Intelligent Cloud|More Personal Computing|Corporate and Other|Total|* not meaningful
2019||$ 41,160|38,985|45,698|$  125,843|Operating Income (Loss)|$ 16,219|13,920|12,820|0|$42,959|
2018||$ 35,865|32,219|42,276|$  110,360||$ 12,924|11,524|10,610|0|$35,058|
2017||$ 29,870|27,407|39,294|$  96,571||$ 11,389|9,127|8,815|(306)|$29,025|
Percentage Change 2019 Versus 2018||15%|21%|8%|14%||25%|21%|21%|*|23%|
Percentage Change 2018 Versus 2017||20%|18%|8%|14%||13%|26%|20%|*|21%|
We collect and analyze operating and financial data to evaluate the health of our business, allocate our

resources, 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

penalty.
|||Gross Payment Volume (GPV)(in millions)|Adjusted Revenue|Adjusted EBITDA|Adjusted Net Income (Loss) Per Share:|Basic|Diluted
|2018||$84,654|$1,587,641|$256,523||$0.55|$0.47
|2017||$65,343|$983,963|$139,009||$0.30|$0.27
Year Ended December 31,|2016|(in thousands, except for GPV and per share data)|$49,683|$686,618|$44,887||$0.04|$0.04
|2015||$35,643|$452,168|$(41,115)||$(0.39)|$(0.39)
|2014||$23,780|$276,310|$(67,741)||$(0.62)|$(0.62)
* 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.
||||Numerator:|Net income (loss) attributable to common stockholders|Denominator:|Weighted-average common shares, basic|Weighted-average common shares, diluted*|Net income (loss) per common share:|Basic:|Diluted:
||2019|||$(16,490)||27,618,284|27,618,284||$(0.60)|$(0.60)
Years Ended|December 31,|2018|(In thousands, except share and per share data)||$19,813||27,484,655|28,416,512||$0.72|$0.70
||2017|||$17,929||25,353,966|26,269,727||$0.71|$0.68
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.
||Net revenue|Cost of revenue|Selling, general and administrative|Depreciation and amortization|Other operating income|Income (loss) from operations
|2019|$172.5|127.1|25.8|25.7|—|$(6.1)
Years Ended December 31,|2018|$194.3|163.0|20.2|27.2|(0.7)|$(15.4)
|Increase / (Decrease)|$(21.8)|(35.9)|5.6|(1.5)|0.7|$9.3
Segment Results of Operations
In 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)
asset impairment expense, (iv) accretion of asset retirement obligations, and (v) FCC reimbursements. Each table summarizes the results of operations of our operating
segments and compares the amount of the change between the periods presented (in millions).                                Marine Services Segment
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 $11 thousand at December 31, 2019 and 2018, respectively.
||||Outstanding, Jan. 1|Granted|Distributed|Vested|Forfeited|Outstanding, Dec. 31
|2019|Number of|RSUs|951|333|(267)|-|-|1,017
Year Ended||Number of|Vested RSUs|459|-|(267)|825|-|1,017
December 31,|2018|Number of|RSUs|462|759|(262)|-|(8)|951
||Number of|Vested RSUs|262|-|(262)|459|-|459
|||Reconciliation of Adjusted EBITDA:|Net (loss) income |Depreciation, amortization and disposals of long-lived assets|Rent expense related to build-to-suit facilities|Interest expense (income), net  |Provision for income taxes  |Share-based compensation expense  |Impairments of long-lived assets  |Restructuring  |Foreign exchange expense (income)  |Acquisition-related expenses (1) (3)  |Gain on previously held asset (2)  |Litigation-related expenses (4)  |Adjusted EBITDA
|2019|||$(7,001)|29,960|(4,482)|3,425|2,001|25,954|—|(170)|1,647|2,012|(338)|1,000|$54,008
|2018|||$(12,386)|19,141|(785)|(712)|2,705|11,734|1,712|832|3,511|—|—|—|$25,752
Year Ended March 31,|2017|(in thousands)||$(5,441)|11,881|—|(242)|2,202|10,294|—|—|(6,892)|655|—|—|$12,457
|2016|||$(3,244)|10,527|—|616|865|7,886|—|—|(811)|—|—|—|$15,839
|2015|||$285|11,028|—|641|152|5,426|—|1,203|(4,508)|—|—|—|$14,227
|Contract liabilities|Deferred income|Accrued compensation and employee benefits|Obligation associated with securitization programs|Other accrued expenses|Accrued expenses
August 31, 2019|$511,329|—|600,907|475,251|1,402,657|$2,990,144
August 31, 2018|$—|691,365|570,400|—|1,000,979|$2,262,744
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.
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:
At December 31, 2019|2020|2021|2022|2023|2024|Thereafter|Net minimum lease payments|Less: present value discount|Total lease liabilities
Operating Leases|$92,404|91,164|107,654|43,015|9,168|4,534|347,939|40,891|$307,048
Finance Lease|$4,172|4,161|4,161|4,161|4,172|17,180|38,007|10,448|$27,559
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.
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.
|Deferred tax assets:|Stock-based compensation|Net operating loss carryforwards|Research credit carryforwards|Intangibles|Other, net|Total deferred assets|Deferred tax liabilities:|Intangibles|Foreign deferred liabilities|Net deferred tax asset|Valuation allowance for net deferred tax assets|Net deferred tax asset
2019||$2,646|9,419|5,570|58|90|17,783||—|(5,811)|11,972|(931)|$11,041
2018||$3,067|8,568|3,890|—|354|15,879||(181)|(8,032)|7,666|(472)|$7,194
||Balance, beginning of period|Provision increase|Amounts written off, net of recoveries|Foreign currency translation adjustments and other|Balance, end of period
|2019|-$3,912|-2,561|1,368|-44|-$5,149
Years Ended December 31,|2018|-$4,799|-1,505|2,269|123|-$3,912
|2017|-$3,873|-2,086|1,305|-145|-$4,799
|Years Ended December 31,|Consolidated Net Income|Add:|Provision for income taxes|Interest expense|Depreciation and amortization expense|Consolidated EBITDA|Add (Less):|Other (income) expense, net†|Equity in losses of unconsolidated businesses‡|Severance charges|Acquisition and integration related charges§|Product realignment charges§|Impairment charges|Net gain from dispositions of assets and businesses|Consolidated Adjusted EBITDA
|2019|$19,788||2,945|4,730|16,682|44,145||2,900|15|204|—|—|186|(261)|$ 47,189
(dollars in millions)|2018|$16,039||3,584|4,833|17,403|41,859||(2,364)|186|2,157|531|450|4,591|—|$ 47,410
Name|Oleg Khaykin|||Amar Maletira|||Paul McNab|||Luke Scrivanich|||Gary Staley||
Fiscal Year|2019|2018|2017|2019|2018|2017|2019|2018|2017|2019|2018|2017|2019|2018|2017
Maximum Possible Value of MSUs Using Grant Date Fair Value|4,067,526|2,457,750|659,618|1,379,350|1,015,870|574,500|591,150|442,395|373,425|591,150|442,395|393,600|591,150|943,527|303,948
Maximum Possible Value of PSUs Using Grant Date Fair Value|—|909,900|—|—|454,950|—|—|—|—|—|—|—|—|—|—
||Payments|2020|2021|2022|2023|2024|Thereafter|Total payments|Less: imputed interest|Carrying value of operating lease liabilities|Less current portion|Carrying value of long-term operating lease liabilities
Lease Commitment|$||69,617|54,195|22,978|9,227|5,713|-|161,730|(13,128)|148,602|(61,431)|87,171
Non-Lease Commitment|$||37,089|26,948|8,189|-|-|-|72,226||||
Total Commitment|$||106,706|81,143|31,167|9,227|5,713|-|233,956||||
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.
|(in thousands)|Notes payable and long-term debt: (Note 8)|5.625% Senior Notes|4.700% Senior Notes|4.900% Senior Notes|3.950% Senior Notes
|Fair Value Hierarchy||Level 2(1)|Level 2(1)|Level 3(2)|Level 2(1)
August 31, 2019|Carrying Amount||$398,886|498,004|299,057|494,825
|Fair Value||$416,000|525,890|318,704|509,845
August 31, 2018|Carrying Amount||$397,995|497,350|298,814|494,208
|Fair Value||$415,704|503,545|306,535|476,010
|2019 vs. 2018|Cost of revenue(1):|Cost of SaaS and license revenue|Cost of hardware and other revenue|Total cost of revenue|% of total revenue
|2019||$50,066|133,533|$183,599|37%
Year Ended December 31,|2018||$44,933|100,782|$145,715|35%
% Change|2019 vs. 2018||11%|32%|26%|
The following tables in this section set forth our selected consolidated statements of operations (in thousands), data for the percentage change and data as a percentage of revenue for the years ended December 31, 2019 and 2018. Certain previously reported amounts in the consolidated statements of operations for the year ended December 31, 2018 have been reclassified to conform to our current presentation to reflect interest income as a separate line item, which was previously included in other income, net.
||Current|Trade payables|Accruals|Social security and other taxes|Other payables|Total current trade and other payables|Non-Current|Other payables|Total non-current trade and other payables
31 March 2019|$M||35.8|46.6|12.7|7.1|102.2||10.1|10.1
31 March 2018|$M||39.6|68.4|14.9|11.2|134.1||8.2|8.2
||Service cost|Interest cost|Expected long-term return on plan assets|Recognized actuarial loss|Amortization of prior service credit|Net settlement loss|Net periodic benefit cost
|2019|$1,437|3,715|(5,291)|741|(44)|634|$1,192
Pension|2018|$1,063|3,807|(5,954)|1,127|(88)|116|$71
|2017|$1,068|2,942|(4,206)|1,929|(138)|1,472|$3,067
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 $1,686 million grew 0.9 percent as reported (3 percent adjusted for currency) compared to the prior year.
($ in millions)|For the year ended December 31:|Systems external revenue|Systems Hardware|IBM Z|Power Systems|Storage Systems|Operating Systems Software
|2019|$7,604|$5,918||||1,686
|2018|$8,034|$6,363||||1,671
|Yr.-to-Yr. Percent Change|(5.3)%|(7.0)%|(1.1)|(13.5)|(8.9)|0.9
|Yr.-to-Yr. Percent Change Adjusted for Currency|(4.1)%|(5.9)%|(0.3)|(12.1)|(7.6)|2.6
||Net cash provided by operating activities|Purchases of property and equipment|Acquisition of businesses, net of cash acquired|Proceeds from sale of discontinued operation (the Hull Business)|Proceeds from sales of other entities|Borrowings, net of repayments|Issuance of shares under employee stock plans|Repurchase of common stock|Net settlement of restricted common stock
Fiscal|2019|$181,401|(83,283)|(18,881)|—|—|263|11,811|(77,410)|(15,179)
|2018|$236,111|(90,757)|(45,448)|25,000|6,250|(173,252)|10,574|(100,000)|(36,320)
Historically, our primary source of cash has been provided by operations. Other sources of cash in the past three fiscal years include proceeds from our Euro Term Loan used to finance our acquisition of Rofin, proceeds received from the sale of our stock through our employee stock purchase plan as well as borrowings under our revolving credit facility (‘‘Revolving Credit Facility’’). Our historical uses of cash have primarily been for acquisitions of businesses and technologies, the repurchase of our common stock, capital expenditures and debt issuance costs. Supplemental information pertaining to our historical sources and uses of cash is presented as follows and should be read in conjunction with our Consolidated Statements of Cash Flows and notes thereto (in thousands):
On May 28, 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers, Topic 606, requiring an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. Topic 606 also includes Subtopic 340-40, Other Assets and Deferred Costs - Contracts with Customers, which requires the capitalization of incremental costs to obtain a contract with a customer. The new revenue standard replaces most existing revenue recognition guidance in GAAP and permits the use of either the full retrospective or modified retrospective transition method.
On December 1, 2018, the beginning of our fiscal year 2019, we adopted the requirements of the new revenue standard utilizing the modified retrospective method of transition. Prior period information has not been restated and continues to be reported under the accounting standard in effect for those periods. We applied the new revenue standard to contracts that were not completed as of the adoption date, consistent with the transition guidance. Further, adoption of the new revenue standard resulted in changes to our accounting policies for revenue recognition and sales commissions as detailed below.
(in thousands)|Assets|Trade receivables, net of allowances for doubtful accounts|Prepaid expenses and other current assets|Other assets|Liabilities and Stockholders’ Equity|Accrued expenses|Deferred revenue, current|Deferred income taxes|Retained earnings
As of November 30, 2018||$1,315,578|312,499|186,522||1,163,185|2,915,974|46,702|$11,815,597
Topic 606 Adoption Adjustments||$43,028|186,220|273,421||30,358|(52,842)|82,834|$442,319
As of December 1, 2018||$1,358,606|498,719|459,943||1,193,543|2,863,132|129,536|$12,257,916
||Long-term debt, including interest|Operating lease payments|Retirement obligations|Total
|Total|$111,586|37,610|6,447|$155,643
|2020|$2,807|4,467|757|$8,031
Payments due by period|2021-2022|$5,876|8,764|1,429|$16,069
|2023-2024|$102,903|7,813|1,328|$112,044
|2025-beyond|$—|16,566|2,933|$19,499
||Indebtedness at the beginning of the financial year|i) Principal Amount|ii) Interest due but not paid|iii) Interest accrued but not due|Total (i+ii+iii)|Change in Indebtedness during the financial year|• Addition|• Reduction|Net change|Indebtedness  at the end  of the financial year|i) Principal amount|ii) Interest due but not paid|iii) Interest accrued but not due|Total (i+ii+iii)
Secured loans excluding deposits|Note 1||44|-|-|44||-|(5)|(5)||39|-|-|39
Unsecured loans|Note 2||181|-|-|181||-|(181)|(181)||-|-|-|-
Deposits|Note 3||3|-|-|3||1|-|1||4|-|-|4
Total Indebtedness|||228|-|-|228||1|(186)|(185)||43|-|-|43
Date Declared||November 21, 2019|August 22, 2019|May 23, 2019|March 1, 2019|November 14, 2018|August 21, 2018|May 23, 2018|February 21, 2018
Record Date||12/2/2019|9/2/2019|6/3/2019|3/12/2019|11/26/2018|8/31/2018|6/4/2018|3/5/2018
Dividend per Share||$0.250|0.250|0.250|0.250|0.540|0.540|0.540|0.540
Total Amount|(in millions)|$273|273|274|273|586|584|588|586
Payment Date||12/13/2019|9/13/2019|6/14/2019|3/22/2019|12/7/2018|9/14/2018|6/15/2018|3/16/2018
Name and address of Beneficial Owner|Garo H. Armen (1)|Robert B. Stein (1)|Khalil Barrage (1)|Alexander K. Arrow (1)|Larry N. Feinberg 808 North St., Greenwich, CT 06831|Brian J. Corvese (1)|David A. Lovejoy|Josh Silverman (1)|Strategic Bio Partners LLC (10) 777 Third Avenue 30th Floor New York, NY 10017|All directors and executive officers as a group (6 persons)
Amount of Beneficial Ownership|4,741,323 (2)|502,500 (3)|380,000 (4)|671,799 (5)|800,000 (6)|145,000 (7)|668,037 (8)|140,000 (9)|1,895,945 (11)|6,580,622 (12)
Percent of Beneficial Ownership|36%|4%|3%|6%|7%|1%|6%|1%|17%|44%
|(In millions)|Short-term borrowings|Current portion of long-term debt|Total current debt|Total long-term debt, less current portion(1)|Total debt|Less: Cash and cash equivalents|Net debt
December 31,|2019|$ 98.9|16.7|115.6|3,698.6|3,814.2|(262.4)|$ 3,551.8
|2018|$ 232.8|4.9|237.7|3,236.5|3,474.2|(271.7)|$ 3,202.5
The unaudited pro forma results for all periods presented include adjustments made to account for certain costs and transactions that would have been incurred had the acquisitions been completed at the beginning of the year prior to the year of acquisition. These include adjustments to amortization charges for acquired intangible assets, interest and financing expenses, transaction costs, amortization of purchased gross profit and the alignment of various accounting policies. These adjustments are net of any applicable tax impact and were included to arrive at the pro forma results above.
|||Total sales|Net income attributable to Advanced Energy Industries, Inc.|Earnings per share:|Basic earnings per share|Diluted earnings per share
|2019|As Reported|$788,948|$64,941||$1.70|$ 1.69
||Pro Forma|$1,202,790|$83,104||$2.17|$ 2.16
Year Ended December 31,|2018|As Reported|$718,892|$147,025||$3.76|$ 3.74
||Pro Forma|$1,350,037|$158,422||$4.05|$ 4.03
FOR THE YEAR ENDED DECEMBER 31|January 1, 2019|Additions|Usage|Reversals|Adoption of IFRS 16|December 31, 2019|Current|Non-current|December 31, 2019
NOTE|||||||20|25|
AROs|199|21|(4)|(17)|–|199|16|183|199
OTHER (1)|172|24|(52)|(1)|(11)|132|17|115|132
TOTAL|371|45|(56)|(18)|(11)|331|33|298|331