DEXTER-CQA/TAT-QA-corpus huggingface dataset:
The percentage of Global Financing receivables reserved was 1.0 percent at December 31, 2019, compared to 0.9 percent at December 31, 2018. The decline in the allowance for credit losses was driven by write-offs of $64 million, primarily of receivables previously reserved, and net releases of $7 million as a result of lower average asset balances in client and commercial financing. See note K, “Financing Receivables,” for additional information.
The Company adopted ASC 606 effective January 1, 2018 using the modified retrospective method. The Company recognized the cumulative effect of initially applying ASC 606, which was immaterial, as an adjustment to the opening balance of retained earnings. The comparative prior period information is accounted for in accordance with the previous revenue guidance, ASC 605, and has not been restated. In accordance with ASC 606, the Company recognizes revenue under the core principle to depict the transfer of control to the Company’s customers in an amount reflecting the consideration the Company expects to be entitled. In order to achieve that core principle, the Company applies the following five step approach: (1) identify the contract with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract and (5) recognize revenue when a performance obligation is satisfied.
Revenue for product sales is recognized at the point in time when control transfers to the Company’s customers, which is generally when products are shipped from the Company’s manufacturing facilities or when delivered to the customer’s named location. When the Company performs shipping and handling activities after the transfer of control to the customer (e.g., when control transfers prior to delivery), they are considered to be fulfillment activities, and accordingly, the costs are accrued for when the related revenue is recognized. Taxes collected on behalf of customers relating to product sales and remitted to governmental authorities, principally sales taxes, are excluded from revenue.
||Year Ended December 31, 2019|Accounts receivable|Deferred revenue (current)|Deferred revenue (non-current)
Balance at Beginning of|Period (1/1/19)||$90,831|$5,101|$3,707
|Increase / (Decrease)||$7,117|$(618)|$(263)
|Balance at End of Period||$97,948|$4,483|$3,444
The Company recognized $0.7 million, $1.4 million, and $1.0 million in stock-based compensation expense related to outstanding stock options in the fiscal years ended September 30, 2019, 2018, and 2017, respectively. As of September 30, 2019, the Company had $2.0 million of unrecognized compensation expense related to outstanding stock options expected to be recognized over a weighted-average period of approximately three years.
Aggregate intrinsic value represents the value of the Company’s closing stock price on the last trading day of the fiscal period in excess of the weighted-average exercise price, multiplied by the number of options outstanding and exercisable. The total intrinsic value of options exercised during the fiscal years ended September 30, 2019, 2018, and 2017 was $11.1 million, $1.4 million, and $1.4 million, respectively. The per-share weighted-average fair value of options granted during the fiscal years ended September 30, 2019, 2018, and 2017 was $5.07, $4.56, and $4.28, respectively. The aggregate intrinsic value of options outstanding as of September 30, 2019 and 2018, was $4.9 million and $8.7 million, respectively.
|Outstanding at September 30, 2016|Granted|Exercised|Canceled|Outstanding at September 30, 2017|Granted|Exercised|Canceled|Outstanding at September 30, 2018|Granted|Exercised|Canceled|Outstanding at September 30, 2019
Number of Shares|3,015,374|147,800|(235,514)|(81,794)|2,845,866|299,397|(250,823)|(88,076)|2,806,364|409,368|(1,384,647)|(144,183)|1,686,902
Weighted-Average Exercise Price Per Share|$3.95|$7.06|$2.92|$3.59|$4.21|$8.60|$2.96|$5.23|$4.75|$9.59|$3.25|$6.62|7.00
Weighted-Average Remaining Contractual Term (in Years)|6.4||||5.4||||4.6||||5.4
The Company has interest rate swap agreements to hedge the cash flows of a portion of its variable rate senior secured term loans (the "Variable Rate Loans"). The objective of these instruments is to reduce variability in the forecasted interest payments of the Company's Variable Rate Loans, which is based on the LIBOR rate. Under the terms of the interest rate swap agreements, the Company will receive monthly variable interest payments based on the one-month LIBOR rate and will pay interest at a fixed rate.
|||Total interest expense, net presented in the consolidated statements of income in which the effects of cash flow hedges are recorded|Amount recognized in other comprehensive (loss) income|Amount reclassified from accumulated other comprehensive loss into earnings during the next 12 months.
|January 3, 2020||$133|$(55)|(7)
Year Ended|December 28, 2018|(in millions)|$138|$(7)|(6)
|December 29, 2017||$140|$10|—
In 2019, 2018 and 2017, we adopted the revised mortality tables and projection scales released by the Society of Actuaries, which decreased the projected benefit obligation of our benefit plans by $4 million, $38 million and $113 million, respectively. The change in the projected benefit obligation of our benefit plans was recognized as part of the net actuarial (gain) loss and is included in accumulated other comprehensive loss, a portion of which is subject to amortization over the remaining estimated life of plan participants, which was approximately 16 years as of December 31, 2019.
||||Change in benefit obligation|Benefit obligation at beginning of year|Service cost|Interest cost|Plan amendments|Special termination benefits charge|Actuarial (gain) loss|Benefits paid from plan assets|Benefit obligation at end of year
||2019|||$11,594|56|436|(9)|6|1,249|(1,115)|$12,217
Combined Pension Plan|Years Ended December 31,|2018|(Dollars in millions)||13,064|66|392|—|15|(765)|(1,178)|11,594
||2017|||13,244|63|409|—|—|586|(1,238)|13,064
||Adjusted EBITDA:|Net income|Adjustments:|Interest expense, interest income and other income, net|Provision for / (benefit from) income taxes|Amortization and depreciation expense|Stock-based compensation expense|Acquisition-related expense|Litigation expense|Total adjustments|Adjusted EBITDA
|2019||$53,330||(8,483)|5,566|22,134|20,603|2,403|12,754|54,977|$108,307
Year Ended December 31,|2018||$21,524||503|(9,825)|21,721|13,429|—|45,729|71,557|$93,081
|2017||$29,251||1,133|2,990|17,734|7,413|5,895|7,212|42,377|$71,628
||Outstanding at start of period|Granted during the period|Vested during the period|Lapsed during the period|Outstanding at end of period
2019|NO. OF RIGHTS|10,692,594|4,465,617|(182,601)|(1,497,852)|13,477,758
2018|NO. OF RIGHTS|6,737,076|5,691,731|(586,663)|(1,149,550)|10,692,594
According to the regulations of Taiwan Financial Supervisory Commission (FSC), UMC is required to appropriate a special reserve in the amount equal to the sum of debit elements under equity, such as unrealized loss on financial instruments and debit balance of exchange differences on translation of foreign operations, at every year-end. Such special reserve is prohibited from distribution. However, if any of the debit elements is reversed, the special reserve in the amount equal to the reversal may be released for earnings distribution or offsetting accumulated deficits.
|Continuing Operations|Operating revenue|Gross profit|EBITDA|EBIT|NPAT|Reported Results (including discontinued operations)|Operating revenue|Gross profit|EBITDA|EBIT|NPAT|EPS (cents)|Underlying Results|Underlying EBITDA2|Underlying EBIT2|Underlying NPAT2|Underlying EPS2
2019  $’000||154,159|52,963|7,202|(1,040)|(2,003)||154,585|53,225|6,062|(2,252)|(4,360)|(1.7)||22,866|15,151|11,062|5.1
2018 $’000 RESTATED3||176,931|45,139|10,878|1,405|1,089||178,139|45,944|(5,700)|(15,278)|(15,640)|(7.0)||15,739|8,537|6,732|3.1
CHANGE||(13%)|17%|(34%)|(174%)|(284%)||(13%)|16|206|85|72|76||45|77|64|65
Purchase obligations consist of significant contractual obligations either on an annual basis or over multi-year periods related to our outsourcing activities or other material commitments, including vendor-consigned inventories. The contractual cash obligations and commitments table presented above contains our minimum obligations at June 30, 2019, under these arrangements and others. For obligations with cancellation provisions, the amounts included in the preceding table were limited to the non-cancelable portion of the agreement terms or the minimum cancellation fee. Actual expenditures will vary based on the volume of transactions and length of contractual service provided.
||Operating leases|Capital leases (1)|Purchase obligations|Long-term debt and interest expense (2)|One-time transition tax on accumulated unrepatriated foreign earnings (3)|Other long-term liabilities (4)|Total
Total||$98,389|50,049|424,561|6,468,517|798,892|190,821|$8,031,229
Less Than 1 Year||$37,427|7,729|345,498|660,840|69,469|4,785|$1,125,748
1-3 Years|(inthousands)|$36,581|17,422|28,946|1,079,096|138,938|13,692|$1,314,675
Years3-5||$12,556|10,097|13,442|257,630|199,723|7,802|$501,250
More Than 5 Years||$11,825|14,801|36,675|4,470,951|390,762|164,542|$5,089,556
(2) At March 31, 2019, we had a $1.1 million liability reserve for unrecognized income tax positions which is not reflected in the table above. The timing of potential cash outflows related to the unrecognized tax positions is not reasonably determinable and therefore, is not scheduled. Substantially all of this reserve is included in Other non-current liabilities. Additional information regarding unrecognized tax positions is provided in Note 10, Income Taxes.
(In thousands)|Operating leases (1)|Capital leases|Asset retirement obligation|Total contractual obligations (2)
Total|$19,437|65|400|$19,902
2020|$4,143|27|—|$4,170
2021-2022|$7,111|38|150|$7,299
2023-2024|$3,686|—|250|$3,936
Thereafter|$4,497|—||$4,497
|Audit Fees|Statutory Audit, Certification, Audit of Individual and Consolidated Financial Statements|Audit-Related Fees|Non-audit Fees|Tax Fees|All Other Fees|Total
2019||4,105,000|209,005||—|—|4,314,005
Percentage of Total Fees||95.2%|4.8%||—|—|100.0%
2018||4,556,500|173,934||—|—|4,730,434
Percentage of Total Fees||96.3%|3.7%||—|—|100%
||Inventories:|Raw material|Work-in-process|Finished goods||Other current assets:|Prepaid expenses|Other||Property and equipment:|Equipment|Software|Furniture and fixtures|Leasehold improvements||Accumulated depreciation and amortization||Capitalized internal-use software:|Capitalized during the year|Accumulated amortization||Accrued liabilities:|Employee compensation related accruals|Other|
December 29, 2019|||$222|2,370|668|$3,260||$1,296|269|$1,565||$10,694|1,789|36|474|12,993|(12,163)|$830||$365|(32)|$333||713|420|$1,133
December 30, 2018|(in thousands)||$191|2,929|716|$3,836||$1,483|292|$1,775||$10,607|2,788|42|712|14,149|(12,700)|$1,449||—|—|—||1,154|749|$1,903
||Long-lived assets:|United States|Europe|Korea|China|Taiwan|Japan|Southeast Asia|
2019|||$933,054|72,928|28,200|6,844|6,759|5,750|5,542|$1,059,077
2018|(inthousands)||$784,469|73,336|24,312|5,466|7,922|3,327|3,715|$902,547
2017|||$575,264|77,211|19,982|1,906|7,970|1,083|2,179|$685,595
The $29.3 million increase in our cost of license and subscription revenue was primarily attributable to increases of $14.9 million in personnel expenses, $8.6 million in cloud infrastructure costs incurred in order to support the growth of our subscription offerings, $3.3 million in royalties, $1.8 million in professional services, and $0.9 million related to the amortization of internal-use software development and acquired intangible assets.
||||Cost of revenue:|License and subscription|Maintenance|Services|Total cost of revenue|Includes stock-based compensation of:|Cost of license and subscription revenue|Cost of maintenance revenue|Cost of services revenue|Total
Fiscal years ended July 31,|2019|Amount|||$ 64,798|16,499|243,053|$ 324,350||$ 3,011|1,820|22,781|$ 27,612
||% of total revenue|||9%|2|34|45%|||||
|2018|Amount|(In thousands, except percentages)||$ 35,452|14,783|246,548|296,783||$ 1,002|1,886|21,856|$ 24,744
||% of total revenue|||5%|2|38|45%|||||
|Change|($)|||29,346|1,716|(3,495)|27,567||2,009|(66)|925|2,868
||(%)|||83|12|(1)|9|||||
As of December 31,|Working capital (1)|Total assets|Total debt (2)|Stockholders’ equity
2019|$207,599|$545,118|$24,600|$380,426
2018|$237,416|$628,027|$25,600|$446,279
2017|$306,296|$669,094|$26,700|$497,911
2016|$226,367|$667,235|$27,800|$479,517
2015|$219,219|$632,904|$28,900|$480,160
Balance Sheet||Other current assets:  |Transition costs and project assets(1)|Pre-contract costs|Other(2)||Other assets:|Transition costs and project assets(1)|Equity method investments(3)|Other(2)||Accounts payable and accrued liabilities:  |Accrued liabilities|Accounts payable|Deferred revenue|Other(2)(4)||Accrued payroll and employee benefits:  |Accrued vacation|Salaries, bonuses and amounts withheld from employees’ compensation|
January 3, 2020|(in millions)||$98|6|306|$410||$207|19|200|$426||$822|592|400|23|$1,837||$232|203|$435
December 28, 2018|||$145|41|357|$543||$22|26|134|$182||$650|547|276|18|$1,491||$225|248|$473
|$ MILLION|Sales|EBITDA|Depreciation and amortisation|EBIT|Gross margin (%)|Cost of doing business (%)|EBIT to sales (%)|Funds employed|ROFE (%)
F19|53 WEEKS|1,671|372|(111)|261|83.6|68.0|15.6|2,068|12.9
F18|52 WEEKS|1,612|361|(102)|259|84.2|68.1|16.1|1,995|13.1
|CHANGE|3.7%|3.5%|9.9%|1.0%|(55) bps|(12) bps|(43) bps|3.7%|(20) bps
|CHANGE NORMALISED|1.8%|2.5%|9.9%|(0.5)%|(54) bps|(18) bps|(35) bps||(38) bps
Hotels sales increased by 3.7% in F19 or 1.8% on a normalised basis. Comparable sales increased by 1.9% with 3.0% growth in Q4. Sales growth accelerated in the second half due to continued growth in Bars, Food and Accommodation benefitting from venue refurbishments with 49 completed during the year. Gaming sales continue to be more subdued, particularly in Victoria. During the year, five venues were opened or acquired with 328 hotels at year‐end.
||Computer equipment and software|Furniture and equipment|Leasehold and building improvements (1)|Construction in progress - PPE|Property, plant, and equipment, excluding internal use software|Less: Accumulated depreciation and amortization|Property, plant and equipment, excluding internal use software, net|Internal use software|Construction in progress - Internal use software|Less: Accumulated depreciation and amortization, internal use software|Internal use software, net|Property, plant and equipment, net
|Useful life (in years)|3-5|5-7||||||3||||
December 31|2019|14,689|2,766|7,201|949|25,605|(19,981)|5,624|33,351|2,973|(25,853)|10,471|$16,095
|2018|14,058|3,732|7,450|—|25,240|(17,884)|7,356|31,565|903|(16,846)|15,622|$22,978
||Land|Buildings and leasehold improvements|Equipment, furniture and fixtures|Capitalized internally developed software costs|Transportation equipment|Construction in progress||Less: Accumulated depreciation|
December 31,|2019|$1,949|138,755|307,559|38,466|613|5,037|492,379|366,389|$125,990
|2018|$2,185|129,582|298,537|41,883|636|2,253|475,076|339,658|$135,418
||Billed receivables|Allowance for doubtful accounts|Billed receivables, net|Accrued receivables|Significant financing component|Total accrued receivables, net|Less: current accrued receivables|Less: current significant financing component|Total long-term accrued receivables, net|Total receivables, net
December 31,|2019|$213,654|(5,149)|208,505|399,302|(35,569 )|363,733|161,714|(11,022 )|213,041|$572,238
|2018|$239,275|(3,912)|235,363|336,858|(35,029 )|301,829|123,053|(10,234 )|189,010|$537,192
(in million)|Goodwill, beginning of the year|Less: accumulated impairment losses, beginning of the year|Additions arising from acquisitions during the year|Effect of foreign currency translation, measurement period adjustments, and other (1)|Goodwill, end of the year
January 31, 2019|$1,769.4|(149.2)|866.9|(36.3)|$2,450.8
January 31, 2018|$1,710.3|(149.2)|—|59.1|$1,620.2
||Revenue:|License|Subscription and SaaS|Total license and subscription and SaaS|Services:|Software maintenance|Professional services|Total services|Total revenue
|January 31, 2020||$3,181|1,877|5,058||4,754|999|5,753|$10,811
For the Year Ended|February 1, 2019||$3,042|1,303|4,345||4,351|917|5,268|$9,613
|February 2, 2018||$2,628|927|3,555||3,919|862|4,781|$8,336
In our normal course of business, we may sell trade receivables to financial institutions as a cash management technique. We do not retain financial or legal obligations for these receivables that would result in material losses. Our ongoing involvement is limited to the remittance of customer payments to the financial institutions with respect to the sold trade receivables; therefore, our sold trade receivables are not included in our Consolidated Balance Sheet in any period presented. As of September 30, 2019, we sold $31.1 million of outstanding trade receivables to financial institutions.
||Accounts receivable|Billed|Unbilled|Allowance for doubtful accounts|Total accounts receivable|Less estimated amounts not currently due|Current accounts receivable
September 30,|2019||$  127,406|—|(1,392)|126,014|—|$  126,014
|2018||$  156,948|242,877|(1,324)|398,501|(6,134)|$ 392,367
|||Cash and cash equivalents|Accounts receivable, net of allowance for doubtful accounts|Inventories, net|Prepaid expenses|Other current assets|Accounts payable|Accrued expenses|Current operating lease liabilities|Total Working Capital
For the Twelve Months Ended December 31,|2019|(Dollars in thousands)|9,472|18,581|12,542|3,276|10,453|(18,668)|(22,133)|(1,185)|$12,338
|2018||7,554|12,327|9,317|1,078|682|(9,166)|(9,051)|—|$12,741
As of December 31, 2019, we had no restricted investments in a loss position for a period of time greater than 12 months. As of December 31, 2018, we identified six restricted investments totaling $87.4 million that had been in a loss position for a period of time greater than 12 months with unrealized losses of $6.4 million. The unrealized losses were primarily due to increases in interest rates relative to rates at the time of purchase. Based on the underlying credit quality of the investments, we generally hold such securities until we recover our cost basis. Therefore, we did not consider these securities to be other-than-temporarily impaired.
|||Foreign government obligations|U.S. government obligations|Total .||||Foreign government obligations|U.S. government obligations|Total
|Amortized|Cost|$129,499|99,700|$229,199||Amortized|Cost|$73,798|97,223|$171,021
As of December 31, 2019|Unrealized|Gains|$—|—|$—|As of December 31, 2018|Unrealized|Gains|$14,234|416|$14,650
|Unrealized|Losses|$3,433|1,981|$5,414||Unrealized|Losses|$235|6,436|$6,671
|Fair|Value|$126,066|97,719|$223,785||Fair|Value|$87,797|91,203|$179,000
(In millions, except percentages and per share amounts)|Revenue|Gross margin|Operating income|Net income|Diluted earnings per share|Non-GAAP operating income|Non-GAAP net income|Non-GAAP diluted earnings per share
2019|$   125,843|82,933|42,959|39,240|5.06|42,959|36,830|4.75
2018|$  110,360|72,007|35,058|16,571|2.13|35,058|30,267|3.88
2017|$  96,571|62,310|29,025|25,489|3.25|29,331|25,732|3.29
Percentage Change 2019 Versus 2018|14%|15%|23%|137%|138%|23%|22%|22%
Percentage Change 2018 Versus 2017|14%|16%|21%|(35)%|(34)%|20%|18%|18%
Key changes in expenses were:

• Cost of revenue increased $4.6 billion or 12%, driven by growth in commercial cloud, Surface, and Gaming.

• Research and development expenses increased $2.2 billion or 15%, driven by investments in cloud and artificial intelligence (“AI”) engineering, Gaming, LinkedIn, and GitHub.

• Sales and marketing expenses increased $744 million or 4%, driven by investments in commercial sales capacity, LinkedIn, and GitHub, offset in part by a decrease in marketing. Sales and marketing expenses included a favorable foreign currency impact of 2%.
Key changes in expenses were: • Cost of revenue increased $4.1 billion or 12%, mainly due to growth in our commercial cloud, Gaming, LinkedIn, and Search advertising, offset in part by a reduction in Phone cost of revenue. • Sales and marketing expenses increased $2.0 billion or 13%, primarily due to LinkedIn expenses and investments in commercial sales capacity, offset in part by a decrease in Windows marketing expenses. • Research and development expenses increased $1.7 billion or 13%, primarily due to investments in cloud engineering and LinkedIn expenses. • General and administrative expenses increased $273 million or 6%, primarily due to LinkedIn expenses.
€ million|Earnings before interest and taxes EBIT|Earnings share of non-operating companies recognised at equity|Other investment result|Interest income/expenses (interest result)|Other financial result|Net financial result|Earnings before taxes EBT|Income taxes|Profit or loss for the period from continuing operations|Profit or loss for the period from discontinued operations after taxes|Profit or loss for the period
2017/2018|713|0|0|−136|−2|−137|576|−216|359|−22|337
2018/2019|828|0|−1|−119|1|−119|709|−298|411|−526|−115
Order intake increased in all businesses year-over-year due to a higher volume from large orders. Sharp order growth in Asia, Australia included two large orders for offshore wind-farms including service in Taiwan totaling € 2.3 billion. SGRE also recorded sharply higher orders in the Americas region, driven by several large orders in the onshore business mainly in the U. S. In contrast, orders came in substantially lower in the region Europe, C. I. S., Africa, Middle East which in the prior year had included an order for an offshore wind-farm, including service, in the U. K.
worth € 1.3 billion.
Adjusted EBITA was on the prior-year level as positive effects from productivity improvements and higher revenue were offset by price declines, a less favorable project mix and higher expenses for integration costs and capacity adjustments including severance. Severance charges were € 32 million in fiscal 2019 and
€ 77 million in fiscal 2018. SGRE’s order backlog was € 26 billion at end of the fiscal year, of which € 9 billion are expected to be converted into revenue in fiscal 2020.
Net cash provided by operating activities increased $224 million for fiscal 2019 as compared to fiscal 2018. The increase was primarily due to more favorable timing of working capital changes including higher advance payments from customers, $59 million received for the Greek arbitration award and lower payments for integration and restructuring costs. These activities were partially offset by higher tax payments, the timing of interest payments and $60 million of proceeds received from the termination of interest rate swaps in the prior year.
|(Loss)/profit before taxation|Tax credit/(charge) at the domestic income tax rate of 19.0% (2017/18: 19.0%)|Tax effect of:|Non-deductible items|Other disallowable items|Impairment of goodwill|Adjustment for share-based payments|Adjustment due to current period deferred tax being provided at 17.0% (2017/18: 17.0%)|Movements in losses recognised|Adjustment to restate opening deferred tax at 17.0% (2017/18: 17.0%)|Adjustments to prior periods|Current tax relating to overseas business|Income tax credit/(charge)
52 weeks ended 30 Mar 2019 £m|(42.7)|8.2||(0.9)|-|-|(0.4)|(0.8)|-|-|1.7|1.1|8.9
52 weeks ended 31 Mar 2018 £m|20.9|(4.0)||(0.1)|(0.4)|(0.8)|(0.6)|0.7|1.1|(2.3)|(8.1)|0.8|(13.7)
The Group’s revenue is diversified across its entire end customer base and no single end user accounted for greater than 10 per cent of the Group’s revenue in either 2018 or 2019. In 2019 two distributors accounted for 15 per cent each, and one distributor for 11 per cent of Group billings which were attributable to all segments of the Group (2018: three distributors accounted for 15 per cent, 14 per cent and 12 per cent each).
|(In thousands)|Furniture and equipment|Software|Leasehold improvements|Project expenditures not yet in use||Accumulated depreciation and amortization|Property and equipment, net
Year ended March 31,|2019|$11,604|16,427|6,981|1,014|36,026|(20,188)|$15,838
|2018|$10,671|11,885|6,819|4,187|33,562|(16,050)|$17,512