DEXTER-CQA/TAT-QA-corpus huggingface dataset:
||Net income attributable to VMware, Inc.|Weighted-average shares, basic for Classes A and B|Effect of other dilutive securities|Weighted-average shares, diluted for Classes A and B|Net income per weighted-average share attributable to VMware, Inc. common stockholders, basic for Classes A and B|Net income per weighted-average share attributable to VMware, Inc. common stockholders, diluted for Classes A and B
|January 31, 2020|$6,412|417,058|8,177|425,235|$15.37|$15.08
For the Year Ended|February 1, 2019|$1,650|413,769|7,362|421,131|$3.99|$3.92
|February 2, 2018|$437|410,315|10,572|420,887|$1.07|$1.04
|||Revenues|Income from operations|Income from continuing operations, net of taxes|Income from discontinued operations, net of taxes|Net income|Income per share—basic:|Continuing operations|Discontinued operations|Net income per share|Income per share—diluted:|Continuing operations|Discontinued operations|Net income per share|Shares used in per share calculation from continuing operations —basic|Shares used in per share calculation from discontinued operations —basic|Shares used in per share calculation from continuing operations—diluted|Shares used in per share calculation from discontinuing operations—diluted
|2019||$111,412|9,464|4,155|—|$4,155||$0.35|—|$0.35||$0.35|—|$0.35|11,809|11,809|12,035|12,035
|2018||$111,322|8,238|4,661|—|$4,661||$0.38|—|$0.38||$0.37|—|$0.37|12,323|12,323|12,510|12,510
Year Ended December 31,|2017|(In thousands, except per share data)|$106,524|4,545|1,592|1,938|$3,530||$0.12|0.15|$0.27||$0.12|0.15|$0.27|12,882|12,882|12,894|12,894
|2016||$114,263|10,186|6,007|624|$6,631||$0.43|0.04|$0.47||$0.43|0.04|$0.47|13,997|13,997|13,997|13,997
|2015||$123,961|3,820|8,523|2,341|$10,864||$0.58|0.16|$0.74||$0.58|0.16|$0.74|14,722|14,722|14,722|14,722
||Fixed income securities|||Fixed income securities
|Cost|$8,152||Cost|$6,274
|Gross Unrealized Gains|$71||Gross Unrealized Gains|$10
April 30, 2019|Gross Unrealized Losses|$(24)|April 30, 2018|Gross Unrealized Losses|$(135)
|Fair Market Value|$8,199||Fair Market Value|$6,149
Fiscal Year 2019 Quarters Ended||Net sales|Gross margin|Operating income (1)|Net income|Net income per basic share|Net income per diluted share
|Jun-30|$327,616|94,821|35,176|$35,220|$0.61|$0.60
|Sep-30|$349,233|113,565|50,000|$37,141|$0.64|$0.63
|Dec-31|$350,175|123,750|61,616|$40,806|$0.70|$0.69
|Mar-31|$355,794|126,406|54,057|$93,420|$1.60|$1.58
||Supervisory Board:|J.C. Lobbezoo|H.W. Kreutzer 1)|M.C.J. van Pernis|U.H.R. Schumacher|S. Kahle-Galonske|M.J.C. de Jong 2)|TOTAL
Year ended  December 31|2018||78.6|21.4|56.0|53.5|55.9|34.0|299.4
|2019||83.5|0.0|58.5|56.0|60.0|57.5|315.5
|Net income|Basic weighted average common shares outstanding|Dilutive effect of share-based awards and options outstanding |Diluted weighted average shares outstanding|Earnings per share:|Basic|Diluted
2019|108,616|30,271|803|31,074||3.59|3.50
2018|13,040|33,003|916|33,919||0.40|0.38
2017|112,062|33,612|941|34,553||3.33|3.24
Year Ended|September 30, 2019|September 30, 2018|September 30, 2017
Balance at Beginning of Year|$104,858|159,154|322,404
Income Tax Expense (Benefit)|$10,448|79,377|(32,154)
Reversal for State NOL Expiration and Utilization|$(68,292)|(133,673)|(131,096)
Balance at End of Year|$47,014|104,858|159,154
||||Total liabilities|Less: Cash and cash equivalents|Net debt|Total equity|Total capital|Debt to capital ratios
As of December 31,|2018|NT$|(In Thousands)|$158,199,746|(83,661,739)|74,538,007|204,397,483|$278,935,490|26.72%
|2019|NT$|(In Thousands)|$163,347,778|(95,492,477)|67,855,301|202,913,915|$270,769,216|25.06%
REGION|Brisbane|Gold Coast|Sunshine Coast|Central Coast (NSW)|Wollongong|Melbourne|Adelaide|Perth|Auckland (NZ)|Hamilton (NZ)|Rotorua (NZ)|Tauranga (NZ)|Total Acquisitions
NUMBER OF CENTRES|5|4|1|6|3|2|3|2|3|4|1|1|35
TOTAL NLA|25,000|6,500|6,500|20,600|12,700|8,600|15,500|10,800|27,000|21,600|5,000|3,200|163,000
Year Ended December 31||Assumed volatility||Assumed risk free interest rate||Average expected life of options (in years)||Expected dividends
|2019|64% - 69%|(67% weighted average)|1.8% - 2.7%|(2.4% weighted average)|6.1 - 6.3|(6.2 weighted average)|-
|2018|75% - 81%|(78% weighted average)|2.2% - 2.8%|(2.5% weighted average)|6.2|(6.2 weighted average)|-
|||||||VAS|FinTech and Business Services|Online Advertising|Others|Total cost of revenues
Year ended 31 December|2019|||Amount||(RMB in millions, unless specified)|94,086|73,831|34,860|6,979|209,756
||% of|segment|revenues|||47%|73%|51%|92%|
|2018|||Amount|(Restated)||73,961|54,598|37,273|4,742|170,574
||% of|segment|revenues|(Restated)||42%|75%|64%|98%|
|Current assets:|Cash|Cash equivalents:|Money market funds|Corporate bonds|Agency bonds|Commercial paper|Certificates of deposit|US treasury securities|Total cash equivalents|Total cash and cash equivalents|Short-term investments:|Corporate bonds|Agency bonds|US treasury securities|Commercial paper|Certificates of deposit|Asset-backed securities|Total short-term investments|Long-term investments:|Corporate bonds|US treasury securities|Asset-backed securities|Strategic investments|Total long-term investments
Amortized Cost||$67,818||126,075|1,000|6,485|9,609|171|4,749|148,089|215,907||103,130|3,966|50,703|23,827|3,936|15,837|201,399||19,407|19,300|11,693|9,750|$60,150
Unrealized Gains||$—||—|—|1|—|—|—|1|1||110|2|62|1|2|12|189||12|25|10|—|$47
Unrealized Losses||$—||—|—|—|(1)|—|—|(1)|(1)||(7)|—|(1)|—|(1)|—|(9)||(4)|—|(1)|—|$(5)
Fair Value||$67,818||126,075|1,000|6,486|9,608|171|4,749|148,089|215,907||103,233|3,968|50,764|23,828|3,937|15,849|201,579||19,415|19,325|11,702|9,750|$60,192
Our 2019 acquisitions of DeliverySlip (as defined herein) and AppRiver (as defined herein) resulted in the addition to our goodwill balance in 2019. Our 2018 acquisition of Erado (as defined herein) resulted in the addition to our goodwill balance in 2018. Our 2018 acquisition adjustments to goodwill reflect the appropriate reallocation of excess purchase price from goodwill to acquired assets and liabilities related to our 2017 Greenview and EMS (as defined herein) purchases. We evaluate goodwill for impairment annually in the fourth quarter, or when there is reason to believe that the value has been diminished or impaired. There were no impairment indicators to the goodwill recorded as of December 31, 2019.
DIRECTOR COMPENSATION|Name (1)|Keith Barnes|Richard E. Belluzzo|Laura Black|Tor Braham|Timothy Campos|Donald Colvin|Masood A. Jabbar
|Fees Earned or Paid in Cash ($)|102,500|160,000|67,500|67,500|77,500|97,500|90,000
|Stock Awards ($) (2)|178,317|178,317|178,317|178,317|178,317|178,317|178,317
|Total ($)|280,817|338,317|245,817|245,817|255,817|275,817|268,317
€ million|Actual taxes|thereof Germany|thereof international|thereof tax expenses/income of current period|thereof tax expenses/income of previous periods|Deferred taxes|thereof Germany|thereof international|
2017/2018|173|(14)|(159)|(194)|(−21)|43|(39)|(4)|216
2018/2019|215|(9)|(206)|(221)|(−6)|83|(104)|(−21)|298
FOR THE YEAR ENDED DECEMBER 31|Net earnings|Add back income taxes|Earnings before income taxes|Applicable statutory tax rate|Income taxes computed at applicable statutory rates|Non-taxable portion of gains (losses) on investments|Uncertain tax positions|Effect of change in provincial corporate tax rate|Change in estimate relating to prior periods|Non-taxable portion of equity losses|Previously unrecognized tax benefits|Other|Total income taxes|Average effective tax rate
2019|3,253|1,133|4,386|27.0%|(1,184)|4|15|27|14|(20)|9|2|(1,133)|25.8%
2018|2,973|995|3,968|27.0%|(1,071)|(9)|68|–|20|(10)|–|7|(995)|25.1%
December 31,||Computer equipment and purchased software|Machinery and equipment|Furniture and fixtures|Leasehold improvements (1)|Total|Less accumulated depreciation and amortization (1)|Property and equipment, net
|2019|$3,011|699|1,115|3,897|8,722|(7,496)|$1,226
|2018|$3,167|821|1,113|3,897|8,998|(6,655)|$2,343
(1) In the fourth quarter 2019, the Company announced its decision to exit the San Jose California facility (“SJ Facility”) by March 31, 2020. The Company accelerated the amortization of its SJ Facility leasehold improvements over the remaining estimated life which is estimated to be through March 31, 2020. As of December 31, 2019, the net book value of the SJ Facility leasehold improvements was $0.9 million and will be fully amortized by March 31, 2020.
||Deferred taxes|Deferred tax assets relate to the following:|Trade and other payables|Provisions|Property, Plant and Equipment|ITAA 97 Section 40-880 business related costs|Unrealised foreign exchange differences|Unused tax losses|Other|Total deferred tax assets||Deferred tax liabilities relate to following:|Trail commission asset|Property, Plant and Equipment|Development costs|Total deferred tax liabilities|Net deferred tax liabilities1
CONSOLIDATED|2019 $’000|||2,312|4,759|-|92|58|4,837|13|12,071|||(34,168)|(581)|(2,109)|(36,858)|(24,787)
|2018 $’000|||1,558|2,230|1,680|105|56|4,665|114|10,408|||(31,253)|-|(2,359)|(33,612)|(23,204)
On August 3, 2018, we implemented a plan to restructure our organization, which included a reduction in workforce of approximately 40 employees, representing approximately 30% of the Company’s total pre-restructuring workforce. We recorded a charge of $381,000 in the third quarter of 2018 relating to this reduction in force, consisting primarily of one-time severance payments and termination benefits. The Company’s goal in the restructuring is to better focus our workforce on retaining current clients, gaining incremental business from current clients, and winning new business in the market segments where we can leverage our expertise and long history as an EFT pioneer.
|As per January 1:|Issued shares|Treasury shares|Outstanding shares|Changes during the year:|Cancellation of treasury shares|Share buybacks|Treasury shares used for share based performance programs|As per December 31:|Issued shares|Treasury shares|Outstanding shares
2018||62,297,394|6,157,241|56,140,153||6,000,000|7,242,734|421,479||56,297,394|6,978,496|49,318,898
2019||56,297,394|6,978,496|49,318,898||5,000,000|950,902|498,224||51,297,394|2,431,174|48,866,220
($ in million)|For the year ended December 31:|Total consolidated research, development and engineering|Non-operating adjustment|Acquisition-related charges|Operating (non-GAAP) research, development and engineering
|2019|$5,989||(53)|$5,936
|2018|$5,379||-|$5,379
|Yr.-to-Yr. Percent Change|11.3%||NM|10.4%
|Name|N Chandrasekaran, Chairman@|Aman Mehta|V Thyagarajan*|Prof Clayton M Christensen**|Dr Ron Sommer|O P Bhatt|Aarthi Subramanian@@|Dr Pradeep Kumar Khosla|Hanne Sorensen***|Keki Mistry***|Don Callahan****|Total
|Commission|-|315.00|100.00|75.00|220.00|215.00|-|150.00|50.00|50.00|35.00|1,210.00
(` lakh)|Sitting Fees|3.60|4.80|3.00|0.30|5.10|7.50|5.70|2.10|0.60|0.60|0.30|33.60
The decrease in tax expense for the year ended December 31, 2019, compared to the year ended December 31, 2018, resulted primarily from a decline in pre-tax earnings coupled with favorable benefits from the settlement of international tax audits and changes in estimate in tax expense recorded upon finalizing U.S. tax returns. These benefits were partially offset by the impact of stock based compensation related to shortfalls that occurred during the year as well as the impact of limitations on current and future deductions for certain executive officers under IRC section 162(m).
During fiscal year 2019, the Company evaluated the impact of the Global Intangible Low-Taxed Income “GILTI”, Foreign Derived Intangible Income “FDII” and Base Erosion and Anti-abuse Tax “BEAT” provisions. These provisions resulted in a net addition to tax of $1.7 million. This amount is comprised of BEAT of $2.1 million offset by the impact of GILTI and FDII of $(0.4) million. For fiscal year 2018, the company estimated that these provisions would result on a net benefit of $(0.3) million. Included in the 2019 tax expense is a benefit of $(0.7) million related to the net impact of these provisions as reported on the final U.S. tax return for the year ended December 31, 2018.
|Outstanding at March 31, 2018|Options granted|Options exercised|Options cancelled/forfeited|Outstanding at March 31, 2019|Exercisable at March 31, 2019
Number of Shares|1,894|-|(326)|(122)|1,446|1,347
Average Price (a)|$12.90|-|13.11|13.22|$12.82|$12.70
Average Life (years) (b)|-|-|-|-|3.29|3.08
Aggregate Intrinsic Value|-|-|$1,944|295|$6,528|$6,253
|||Service revenue|On-net revenues|Off-net revenues|Network operations expenses(1)|Selling, general, and administrative expenses(2)|Depreciation and amortization expenses|Gains on equipment transactions|Interest expense|Income tax expense
Year Ended December 31|2019|(in thousands)|$546,159|396,753|148,931|219,801|146,913|80,247|1,059|57,453|15,154
Percent Change|2018||$520,193|374,555|145,004|219,526|133,858|81,233|982|51,056|12,715
|Change||5.0%|5.9%|2.7%|0.1%|9.8%|(1.2)%|7.8%|12.5%|19.2%
||Revenues (in thousands)|Loss from continuing operations (in thousands)|Loss per share - continuing operations|Weighted average number of common shares outstanding - basic and diluted
Year Ended December 31|2019|$ 224,913|$ (13,432)|$           (0.42)|32,359,316
|2018|$ 17,542|$ ( 7,792)|$          ( 0.35)|22,099,149
Trade and other receivables are amounts due from third parties for services performed in the ordinary course of business. They are generally due for settlement immediately and therefore are all classified as current. Trade and other receivables are recognized initially at the amount of consideration that is unconditional unless they contain certain significant financing components, at which point they are recognized at fair value. The Group holds the trade receivables with the objective to collect the contractual cash flows and therefore measures them subsequently at amortized cost using the effective interest rate method.
||Results of Operations|Operating revenues|Operating income|Net income attributable to Verizon|Per common share – basic|Per common share – diluted|Cash dividends declared per common share|Net income attributable to noncontrolling interests|Financial Position|Total assets|Debt maturing within one year|Long-term debt|Employee benefit obligations|Noncontrolling interests|Equity attributable to Verizon
|2019||$131,868|30,378|19,265|4.66|4.65|2.435|523||$ 291,727|10,777|100,712|17,952|1,440|61,395
|2018||$130,863|22,278|15,528|3.76|3.76|2.385|511||$ 264,829|7,190|105,873|18,599|1,565|53,145
|2017||$ 126,034|27,425|30,101|7.37|7.36|2.335|449||$ 257,143|3,453|113,642|22,112|1,591|43,096
(dollars in millions, except per share amounts)|2016||$ 125,980|29,249|13,127|3.22|3.21|2.285|481||$ 244,180|2,645|105,433|26,166|1,508|22,524
|2015||$ 131,620|30,615|17,879|4.38|4.37|2.230|496||$ 244,175|6,489|103,240|29,957|1,414|16,428
||Reconciliation to consolidated net revenues:|Segment net revenues|Revenues from non-reportable segments (1)|Net effect from recognition (deferral) of deferred net revenues (2)|Elimination of intersegment revenues (3)|Consolidated net revenues|Reconciliation to consolidated income before income tax expense:|Segment operating income|Operating income (loss) from non-reportable segments (1)|Net effect from recognition (deferral) of deferred net revenues and related cost of revenues (2)|Share-based compensation expense|Amortization of intangible assets|Fees and other expenses related to the acquisition of King (4)|Restructuring costs (5)|Other non-cash charges (6)|Discrete tax-related items (7)|Consolidated operating income|Interest and other expense (income), net|Loss on extinguishment of debt|Consolidated income before income tax expense
|2019||$5,969|462|101|(43)|$6,489||$2,054|24|52|(166)|(203)|—|(137)|—|(17)|1,607|(26)|—|$1,633
Years Ended December 31,|2018||$6,835|480|238|(53)|$7,500||$2,446|31|100|(209)|(370)|—|(10)|—|—|1,988|71|40|$1,877
|2017||$6,765|410|(139)|(19)|$7,017||$2,417|(19)|(71)|(178)|(757)|(15)|(15)|(14)|(39)|1,309|146|12|$1,151
|Gross unrecognized tax benefits at the beginning of the year|Additions from tax positions taken in the current year|Additions from tax positions taken in prior years|Reductions from tax positions taken in prior years|Tax settlements|Gross unrecognized tax benefits at end of the year
2019|$1,321|213|73|—|—|$1,607
2018|$1,181|140|—|—|—|$1,321
2017|$—|140|1,041|—|—|$1,181
Group policy is to maintain a weighted average debt maturity of over five years. At 31 December 2019, the maturity profile of Group debt showed an average maturity of five years (2018: six years). The Group regularly reviews the maturity profile of its borrowings and seeks to avoid concentration of maturities through the regular replacement of facilities and by arranging a selection of maturity dates. Refinancing risk may be reduced by doing so prior to the contracted maturity date. The change in valuation of an asset used as security for a debt facility may impact the Group’s ability to refinance that debt facility at the same quantum as currently outstanding.
Liquidity risk is managed to enable the Group to meet future payment obligations when financial liabilities fall due. Liquidity analysis is conducted to determine that sufficient headroom is available to meet the Group’s operational requirements and committed investments. The Group treasury policy aims to meet this objective by maintaining adequate cash, marketable securities and committed facilities. Undrawn borrowing facilities are detailed in note 23. The Group’s policy is to seek to optimise its exposure to liquidity risk by balancing its exposure to interest rate risk and to refinancing risk. In effect the Group seeks to borrow for as long as possible at the lowest acceptable cost.
|£m|Borrowings (including interest)|Finance lease obligations|Other financial liabilities|Net derivative payments||||£m|Borrowings (including interest)|Finance lease obligations|Other financial liabilities|Net derivative payments||
|Within 1 year|(249.5)|(5.3)|(15.4)|(34.3)|(304.5)|||Within 1 year|(237.8)|(4.4)|(6.1)|(37.2)|(285.5)|
|1–2 years|(1,091.3)|(5.3)|–|(28.8)|(1,125.4)|||1–2 years|(245.2)|(4.4)|(1.2)|(33.5)|(284.3)|
|2–5 years|(2,600.9)|(14.3)|–|(78.4)|(2,693.6)|||2–5 years|(3,259.1)|(13.4)|–|(74.0)|(3,346.5)|
|Over 5 years|(1,716.1)|(104.8)|(1.2)|(222.9)|(2,045.0)|||Over 5 years|(2,408.0)|(104.8)|–|(248.2)|(2,761.0)|
2019|Total|(5,657.8)|(129.7)|(16.6)|(364.4)|(6,168.5)||2018|Total|(6,150.1)|(127.0)|(7.3)|(392.9)|(6,677.3)|
||Operating lease obligations|Purchase obligations|Total
|Total|$23,673|20,520|$44,193
|Less Than 1 Year|$9,008|16,748|$25,756
Payments Due by Period|2-3 Years|$10,907|3,669|$14,576
|4-5 Years|$2,827|103|$2,930
|More Than 5 Years|$931|—|$931
||Debt issuance amortization|Debt discount amortization|Interest expense|Total interest expense on Senior Secured Indebtedness|Debt issuance amortization|Debt discount amortization|Coupon interest expense|Total interest expense on Convertible Debt|Other interest expense|Total interest expense
|2019|$12.9|2.2|291.8|306.9|3.6|112.4|77.1|193.1|2.9|$502.9
Year Ended March 31,|2018|$3.1|—|6.6|9.7|3.5|106.1|77.3|186.9|2.4|$199.0
|2017|$2.4|—|40.4|42.8|2.1|56.1|44.5|102.7|0.8|$146.3
Fiscal 2019 fourth-quarter profit for the period and profit for the period attributable to owners of the Corporation increased by 26.1% and 25.2%, respectively, mainly due to a profit for the period from discontinued operations of $1.9 million due to working capital adjustments during the fourth quarter related to the sale of Cogeco Peer 1 compared to a loss for the period from discontinued operations of $1.1 million for the comparable period of the prior year in addition to the elements mentioned above.
Three months ended August 31,|(in thousands of dollars, except percentages and earnings per share)|Profit for the period from continuing operations|Profit for the period|Profit for the period from continuing operations attributable to owners of the Corporation|Profit for the period attributable to owners of the Corporation|Profit for the period from continuing operations attributable to non-controlling interest(2)|Basic earnings per share from continuing operations|Basic earnings per share
2019|$|92,403|94,323|87,850|89,770|4,553|1.78|1.82
2018(2)|$|75,870|74,818|72,753|71,701|3,117|1.48|1.45
Change|%|21.8|26.1|20.8|25.2|46.1|20.3|25.5
We are subject to income taxes in the U.S., various state and foreign jurisdictions. Tax statutes and regulations within each jurisdiction are subject to interpretation and require significant judgment to apply. We are no longer subject to U.S. federal or non-U.S. income tax examinations by tax authorities for the years before 2015. We are no longer subject to U.S. state tax examinations by tax authorities for the years before 2014. We believe it is reasonably possible that within the next year our unrecognized tax benefits may decrease by $1.9 million due to the acceptance of a portion of our amended research and development credits.
||Gross unrecognized tax benefits at beginning of year|Increases in tax positions for prior years|Increases in tax positions for current year|Decreases in tax positions for prior years|Lapse in statute of limitations|Gross unrecognized tax benefits at end of year
|2019|$490|7,718|1,839|(412)|—|$9,635
December 31,|2018|$220|36|320|—|(86)|$490
|2017|$293|—|32|—|(105)|$220
The GBS profit margin increased 0.9 points to 27.7 percent and pre-tax income of $1,666 million increased 2.2 percent year to year. The pre-tax margin of 9.9 percent increased slightly year to year. The year-to-year improvements in margins and pre-tax income were driven by the continued mix shift to higher-value offerings, the yield from delivery productivity improvements and a currency benefit from leveraging the global delivery resource model. We continued to invest in our services offerings and skills necessary to assist our clients on their cloud journey.
($ in millions)|For the year ended December 31:|Global Business Services|External gross profit|External gross profit margin|Pre-tax income|Pre-tax margin
|2019||$4,606|27.7%|$1,666|9.9%
|2018*||$4,448|26.8%|$1,629|9.6%
|Yr.-to-Yr. Percent/ Margin Change||3.5%|0.9 pts.|2.2%|0.2 pts.
The Company leases its facilities under non-cancelable operating leases and build-to-suit leases with various expiration dates through March 2029. Rent expense related to the Company’s office facilities was $5.3 million, $4.8 million and $3.2 million for the years ended March 31, 2019, 2018 and 2017, respectively. The Company has also entered into various capital lease agreements for computer equipment with non-cancelable terms through January 2022 and has non-cancelable commitments related to its data centers.
Year Ending March 31,|2020|2021|2022|2023|2024|Thereafter  |Total minimum lease payments |Less: Amount representing interest  |Present value of capital lease obligations  |Less: Current portion  |Long-term portion of capital lease obligations 
Capital Leases|$ 918|1,102|326|—|—|—|$ 2,346|(121)|2,225|(844)|$1,381
Facility Leases|$ 10,649|15,186|14,111|13,825|13,686|59,502|$ 126,959||||
Data Centers|$ 21,216|17,427|13,010|2,774|356|—|$ 54,783||||
$ million|Product development|Selling and marketing|Administration1|Adjusted operating costs1|Networks & Security|Lifecycle Service Assurance|Connected Devices|Corporate|Adjusted operating costs1
2019|96.5|129.2|50.0|275.7|158.4|70.5|38.2|8.6|275.7
2018|96.9|123.9|46.6|267.4|148.9|70.5|40.8|7.2|267.4
Total Group adjusted operating costs were up $8.3 million or 3.1 per cent in 2019 compared to last year, broadly in line with inflation. The emphasis remained on effective resource allocation and careful cost management. The overall investment in product development was maintained, with continuing focus on high-growth, high-margin areas. Investment in the sales and marketing organisation was targeted on expanding our key account management programme to drive incremental business with our most valuable customers and developing routes to market for our new technologies to a broadening customer base. Administration costs in 2019 reflected an inflationary increase and higher corporate costs, primarily due to CEO transition.