DEXTER-CQA/TAT-QA-corpus huggingface dataset:
Use of the cost-to-cost or other similar methods of revenue recognition requires us to make reasonably dependable estimates regarding the revenue and cost associated with the design, manufacture and delivery of our products and services. Revisions or adjustments to estimates of the transaction price, estimated costs at completion and estimated profit or loss of a performance obligation are often required as work progresses under a contract, as experience is gained, as facts and circumstances change and as new information is obtained, even though the scope of work required under the contract may not change. In determining the estimated costs at completion, we have to make assumptions regarding labor productivity and availability, the complexity of the work to be performed, the availability of materials, estimated increases in wages and prices for materials, performance by our subcontractors, and the availability and timing of funding from our customer, among other variables. Revisions or adjustments to our estimated transaction price and estimated costs at completion may also be required if contract modifications occur. The revisions in contract estimates, if significant, can materially affect our results of operations and cash flows, and in some cases result in liabilities to complete contracts in a loss position. Based upon our history, we believe we have the ability to make reasonable estimates for these items. We have accounting policies and controls in place to address these, as well as other contractual and business arrangements to properly account for long-term contracts, and we continue to monitor and improve such policies, controls, and arrangements. For other information on such policies, controls and arrangements, see our discussion in Item 9A of this Form 10-K.
Products and services provided under long-term, fixed-price contracts represented approximately 97% of our sales for 2019. Because of the significance of the judgments and estimation processes, it is likely that materially different amounts could be recorded if we used different assumptions or if our underlying circumstances were to change. For example, if underlying assumptions were to change such that our estimated profit rate at completion for all fixed-price contracts accounted for under the cost-to-cost percentage-of-completion method was higher or lower by one percentage point, our 2019 operating income would have increased or decreased by approximately $6.5 million. When adjustments in estimated contract revenues or estimated costs at completion are required, any changes from prior estimates are recognized by recording adjustments in the current period for the inception-to-date effect of the changes on current and prior periods using the cumulative catch-up method of accounting. When estimates of total costs to be incurred on a contract exceed total estimates of revenue to be earned, a provision for the entire loss on the contract is recorded in the period the loss is determined.
Non-vested awards|Non-vested at December 31, 2018|Granted|Vested|Forfeited|Non-vested at December 31, 2019
Shares|1,187,586|473,550|(365,223)|(12,632)|1,283,281
Weighted-Average Grant Date Fair Value|$41.12|$53.53|$41.83|$50.49|$45.40
||Numerator|Net income (1)|Denominator:|Weighted-average common shares outstanding:|Basic|Assumed conversion of employee stock grants|Assumed conversion of warrants|Diluted|Net income per basic share (1)|Net income per diluted share (1)
|2019||$206,587|||57,840|1,242|—|$59,082|$3.57|$3.50
Fiscal Years Ended March 31,|2018||$254,127|||52,798|2,291|3,551|$58,640|$4.81|$4.33
|2017||$47,157|||46,552|2,235|6,602|$55,389|$1.01|$0.85
Years Ended December 31,||Telecommunication - Maintenance|Telecommunication - Installation|Power - Operations, Maintenance & Construction Support|Power - Cable Installation & Repair|Total revenue from contracts with customers|Other revenue|Total Marine Services segment revenue
|2019|$86.8|33.2|19.9|32.6|172.5|—|$172.5
|2018|$87.0|41.5|31.0|34.8|194.3|—|$194.3
|Movements|At 30 June 2019|Cost|Accumulated amortisation|Netbook amount|30 June 2018|Opening net book amount at 1 July 2017|Additions – externally acquired|Additions – internally developed|Amortisation|Transfers|Transfer between classes|Disposals|Closing net book amount|At 30 June 2018|Cost|Accumulated amortisation|Net book amount
Rights and licenses|$'000||13|-|13||43|13|-|(43)|-|-|-|13||104|(91)|13
Internally generated software|$'000||12,961|(5,580)|7,381||442|-|-|(1,746)|7,563|744|(618)|6,385||9,555|(3,170)|6,385
Software under development|$'000||16,284|-|16,284||8,053|5,253|1,256|-|(7,563)|-|(490)|6,509||6,509|-|6,509
Total|$'000||29,259|(5,580)|23,678||8,538|5,266|1,256|(1,789)|-|744|(1,108)|12,907||16,168|(3,261)|12,907
|In thousands|Drinkable Kefir other than ProBugs|Cheese|Cream and other|ProBugs Kefir|Other dairy|Frozen Kefir (a)|Net Sales
|$|$ 71,822|11,459|4,228|2,780|1,756|1,617|$ 93,662
2019|%|77%|12%|4%|3%|2%|2%|100%
|$|$ 78,523|11,486|5,276|2,795|3,836|1,434|$ 103,350
2018|%|76%|11%|5%|3%|4%|1%|100%
Operating revenues. Operating revenues decreased by 2.0% from NT$151,253 million in 2018 to NT$148,202 million (US$4,955 million) in
2019, primarily due to decreased other operating revenues, decreased foundry wafer sale, and 2.5% depreciation of the NTD in 2019 from 2018. The decreased foundry wafer sale came from a decline of 2.9% in average selling price from 2018 to 2019, partially offset by a 1.1% increase in foundry wafer shipment from 7,108 thousand 8-inch equivalent wafers in 2018 to 7,189 thousand 8-inch equivalent wafers in 2019.
|||Operating revenues|Operating costs|Gross profit|Operating expenses|Sales and marketing|General and administrative|Research and development|Expected credit losses|Subtotal|Net other operating income and expenses|Operating income|Non-operating income and expenses|Income from continuing operations before income tax|Income tax benefit (expense)|Net income|Total other comprehensive income (loss), net of tax|Total comprehensive income|Net income attributable to:|Stockholders of the parent|Non-controlling interests|Total comprehensive income attributable to:|Stockholders of the parent|Non-controlling interests
|2017|%|100.0|(81.9)|18.1||(2.8)|(2.8)|(9.2)|—|(14.8)|1.1|4.4|0.7|5.1|(0.6)|4.5|(3.2)|1.3||6.5|(2.0)||3.3|(2.0)
Years Ended December 31,|2018|%|100.0|(84.9)|15.1||(2.6)|(3.2)|(8.6)|(0.3)|(14.7)|3.4|3.8|(2.4)|1.4|0.7|2.1|0.6|2.7||5.1|(3.0)||5.7|(3.0)
|2019|%|100.0|(85.6)|14.4||(2.6)|(3.6)|(8.0)|(0.4)|(14.6)|3.5|3.3|(0.1)|3.2|(0.1)|3.1|1.9|5.0||5.5|(2.4)||7.4|(2.4)
|||Automotive and Discrete Group (ADG)|Analog, MEMS and Sensors Group (AMS)|Microcontrollers and Digital ICs Group (MDG)|Others|Total consolidated net revenues
|December 31, 2019||$924|1,085|742|3|$2,754
Three Months Ended|September 29, 2019||$894|968|688|3|$2,553
|December 31, 2018|(Unaudited, in millions)|$967|988|689|4|$2,648
% Variation|Sequential||3.3%|12.1|7.9|—|7.9%
|Year-Over-Year||(4.5)%|9.9|7.6|—|4.0%
As at December 31,|Actuarial benefit obligation|Discount rate|Benefit costs for the year ended|Discount rate|Future salary growth|Health care cost trend rate|Other medical trend rates
Pension 2019||3.20%||3.90%|2.50%|N/A|N/A
Other 2019||2.95% to 3.20%||3.90% to 4.00%|N/A|3.49% to 5.49%|4.00% to 4.56%
Pension 2018||3.80%||3.60%|2.50%|N/A|N/A
Other 2018||3.80% to 4.00%||3.25% to 3.60%|N/A|4.50%|4.50%
||Outstanding, January 1|Shares issued for the acquisition of AlarmForce|Shares issued under employee stock option plan|Repurchase of common shares|Shares issued under ESP|Shares issued under DSP|Outstanding, December 31
|NOTE||34|28||||
2019|NUMBER OF SHARES|898,200,415|–|4,459,559|–|1,231,479|16,729|903,908,182
|STATED CAPITAL|20,036|–|251|–|75|1|20,363
2018|NUMBER OF SHARES|900,996,640|22,531|266,941|(3,085,697)|–|–|898,200,415
|STATED CAPITAL|20,091|1|13|(69)|–|–|20,036
||||Primary service units|Internet service customers|Video service customers|Telephony service customers
|Years ended|August 31,|2019|1,810,366|788,243|649,583|372,540
Net additions (losses)||August 31,|2019|(56,552)|5,966|(39,185)|(23,333)
||August 31,|2018(1)|(55,849)|14,173|(37,035)|(32,987)
% of penetration(2)||August 31,|2019||44.7|36.8|21.1
||August 31,|2018||44.7|39.3|22.6
|Continuing (loss)/profit before tax as shown in the consolidated income statement|Aggregated expected income tax (credit)/expense|Impairment losses with no tax effect|Disposal of Group investments|Effect of taxation of associates and joint ventures, reported within profit before tax|(Recognition)/derecognition of deferred tax assets for losses in Luxembourg and Spain1|Deferred tax following revaluation of investments in Luxembourg1|Previously unrecognised temporary differences we expect to use in the future|Previously unrecognised temporary differences utilised in the year|Current year temporary differences (including losses) that we currently do not expect to use|Adjustments in respect of prior year tax liabilities2|Revaluation of assets for tax purposes|Impact of tax credits and irrecoverable taxes|Deferred tax on overseas earnings3|Effect of current year changes in statutory tax rates on deferred tax balances|Financing costs not deductible for tax purposes|Expenses not deductible (income not taxable) for tax purposes|Income tax expense/(credit)
2019 €m|(2,613)|(457)|807|–|262|1,186|(488)|–|–|78|(94)|–|79|(39)|(2)|67|97|1,496
2018 €m|3,878|985|–|55|90|(1,583)|(330)|–|(29)|20|(244)|–|93|24|(44)|23|61|(879)
2017 €m|2,792|795|–|(271)|23|1,603|(329)|(15)|(11)|139|(107)|(39)|98|26|2,755|25|72|4,764
The Company estimates the fair value of employee share options on the date of grant using the Black-Scholes option-pricing model, which requires the use of highly subjective estimates and assumptions. The Company estimates the expected term of share options for service-based awards utilizing the “Simplified Method,” as it does not have sufficient historical share option exercise information on which to base its estimate. The Simplified Method is based on the average of the vesting tranches and the contractual life of each grant.
||Expected term (in years)|Risk-free interest rate|Expected volatility|Expected dividend yield  |Estimated grant date fair value per ordinary share
|2019|6.1|2.7%|41.5%|—%|$37.15
Year ended March 31, |2018|6.1|2.2%|39.8%|—%|$26.52
|2017|6.1|2.1%|41.0%|—%|$20.22
Basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net income by the weighted average number of common shares outstanding during the period plus the dilutive effect of outstanding stock options and restricted stock-based awards using the treasury stock method. The following table sets forth the computation of basic and diluted earnings (loss) per share (in thousands, except per share amounts):
||Net income (loss)|Basic weighted average number of common shares outstanding|Effect of stock options and restricted stock units computed on|treasury stock method|Diluted weighted average number of common shares outstanding|Earnings (loss) per share:|Basic|Diluted
|2019|$18,398|34,589||705|35,294||$0.53|$0.52
Year Ended February 28,|2018|$16,617|35,250||889|36,139||$0.47|$0.46
|2017|$(7,904)|35,917||-|35,917||$(0.22)|$(0.22)
The current result of METRO China was reclassified in the consolidated income statement under the item ‘profit or loss for the period from discontinued operations after taxes’, taking into account necessary consolidation measures. To increase the economic meaningfulness of the earnings statement of the continuing sector, its shares in the consolidation effects were also included in the discontinued section of the earnings statement as far as they were related to business relations that are to be upheld in the long term even after the planned disposal. The previous year’s figures of the income statement were adjusted accordingly.
€ million|Sales|Expenses|Current earnings from discontinued operations before taxes|Income taxes on gains/losses on the current result|Current earnings from discontinued operations after taxes|Gains/losses from the remeasurement or disposal of discontinued operations before taxes|Gains/losses from the remeasurement or disposal of discontinued operations after taxes|Profit or loss for the period from discontinued operations after taxes
2017/2018|2,680|−2,563|117|−29|88|0|0|88
2018/2019|2,901|−2,736|165|−43|122|0|0|122
Cloud & Cognitive Software revenue of $23,200 million increased 4.5 percent as reported (6 percent adjusted for currency) in 2019 compared to the prior year. There was strong growth in Cloud & Data Platforms, as reported and at constant currency, driven primarily by the acquisition of Red Hat in the third quarter of 2019. Red Hat had continued strong performance since the acquisition, in Red Hat Enterprise Linux (RHEL), application development and emerging technologies, led by OpenShift and Ansible. Red Hat and IBM are driving synergies with strong adoption of Cloud Paks since their introduction, expansion of our combined client base and more than 2,000 clients using our hybrid cloud platform. Cognitive Applications also grew as reported and at constant currency. Transaction Processing Platforms declined year to year as reported, but grew 1 percent adjusted for currency driven by strong fourth-quarter performance.
Cognitive Applications revenue of $5,765 million grew 2.3 percent as reported (4 percent adjusted for currency) compared to the prior year, driven by double-digit growth as reported and adjusted for currency in Security, and growth in industry verticals such as IoT. The Security performance included continued strong results in threat management software and services offerings. Within IoT, we had good revenue performance across the portfolio as we continued to invest in new offerings and industry-specific solutions.
($ in millions)|For the year ended December 31:|Cloud & Cognitive Software external revenue|Cognitive Applications|Cloud & Data Platforms|Transaction Processing Platforms
|2019|$23,200|$ 5,765|9,499|7,936
|2018|$22,209|$ 5,633|8,603|7,974
|Yr.-to-Yr. Percent Change **|4.5%|2.3%|10.4|(0.5)
|Yr.-to-Yr. Percent Change Adjusted for Currency **|6.2%|3.9%|12.3|1.4
||Revenues|Expenses:|Operating expenses|Transition and integration costs|EBITDA|Depreciation and amortization|Operating income (loss)|Interest expense, net|Other expense, net|Earnings before income taxes|Income tax expense|Net earnings|Balance sheet data:|Total assets|Goodwill
|Software Solutions|$962.0||394.8|—|567.2|112.9|454.3|||||||$3,227.8|$2,157.6
|Data and Analytics|$154.5||115.0|—|39.5|14.1|25.4|||||||$310.2|$172.1
Year ended December 31, 2018|Corporate and Other|$(2.5)||115.6|6.6|(124.7)|90.0|(214.7)|||||||$115.4|$—
||(1)||(2)|(5)||(4)||||||||(6)|
|Total|$1,114.0||625.4|6.6|482.0|217.0|265.0|(51.7)|(7.1)|206.2|37.7|$168.5||$3,653.4|$2,329.7
Year Ended December 31,||Asia Pacific|Travel|Local|Total Asia Pacific revenues|Europe|Travel|Local|Total Europe revenues|North America|Travel|Local|Total North America revenues|Consolidated|Travel|Local|Total revenues
|2019||$6,274|216|6,490||32,081|4,817|36,898||57,863|10,161|68,024||96,218|15,194|$111,412
|2018||$7,351|508|7,859||30,856|5,293|36,149||56,145|11,169|67,314||94,352|16,970|111,322
|At December 31,|Deferred Tax Assets|Employee benefits|Tax loss and credit carry forwards|Other – assets||Valuation allowances|Deferred tax assets|Deferred Tax Liabilities|Spectrum and other intangible amortization|Depreciation|Other—liabilities|Deferred tax liabilities|Net deferred tax liability
|2019||$ 5,048|3,012|5,595|13,655|(2,260)|11,395||22,388|16,884|6,742|46,014|$ 34,619
(dollars in millions)|2018||$ 5,403|3,576|1,650|10,629|(2,741)|7,888||21,976|15,662|3,976|41,614|$ 33,726
Consolidated net cash flow from operating activities increased to $383.3 million for the year ended December 31, 2019, from $182.1 million for the year ended December 31, 2018. This increase was primarily due to a $127.2 million increase in income from operations mainly from operations (before depreciation, amortization, asset impairments, loss on sale of vessels and the amortization of in-process revenue contracts) of our businesses.
|(In thousands, except percentages)|Revenue|Cost of goods sold|Gross profit|Research and development|Selling, general, and administrative|Other operating expense|Operatingincome
2019|Dollars|$3,090,325|1,895,142|1,195,183|450,482|476,074|52,161|$216,466
|% of Revenue|100.0%|61.3|38.7|14.6|15.4|1.7|7.0%
2018|Dollars|$2,973,536|1,826,570|1,146,966|445,103|527,751|103,830|$70,282
|% of Revenue|100.0%|61.4|38.6|15.0|17.7|3.5|2.4%
|As at December 31, 2018|Discount rate|Future salary growth|Medical and dental trend rates
Pension|1% increase|$(39,145)|$7,572|N/A
|1% decrease|$49,361|$(6,919)|N/A
Other|1% increase|$(2,471)|N/A|$1,703
|1% decrease|$3,224|N/A|$(1,280)
The fair value of our foreign exchange forward contracts is presented on a gross basis in our Condensed Consolidated Balance Sheets. To mitigate losses in the event of nonperformance by counterparties, we have entered into master netting arrangements with our counterparties that allow us to settle payments on a net basis. The effect of netting on our derivative assets and liabilities was not material as of March 29, 2019 and March 30, 2018.
||Segment revenues|Gross profit|Depreciation|Amortisation
VAS|RMB’Million|199,991|105,905|3,461|14,710
FinTech and Business Services|RMB’Million|101,355|27,524|6,669|–
Online Advertising|RMB’Million|68,377|33,517|2,065|9,977
Others|RMB’Million|7,566|587|108|3,115
Total|RMB’Million|377,289|167,533|12,303|27,802
During the year ended December 31, 2019, we had an average of 27.2 ships operating in our owned and bareboat fleet (including ships owned by the Partnership), having 9,518 revenue operating days and an average of 27.2 ships operating under our technical management (including 27.0 of our owned and bareboat ships). During the year ended December 31, 2018, we had an average of 26.0 ships operating in our owned and bareboat fleet (including ships owned by the Partnership), having 9,030 revenue operating days and an average of 25.5 ships operating under our technical management (including 25.0 of our owned and bareboat ships).
||Amounts are in thousands of U.S. Dollars|Revenues|Net pool allocation|Voyage expenses and commissions|Vessel operating and supervision costs|Depreciation|General and administrative expenses|Impairment loss on vessels|Profit from operations|Financial costs|Financial income|Loss on derivatives|Share of profit of associates|Total other expenses, net|Profit/(loss) for the year|Non-controlling interests|Profit/(loss) attributable to owners of the Group
|2018||$618,344|17,818|(20,374)|(128,084)|(153,193)|(41,993)|—|292,518|(166,627)|4,784|(6,077)|1,800|(166,120)|126,398|78,715|$47,683
Year ended December 31,|2019||$668,637|(4,264)|(23,772)|(139,662)|(168,041)|(47,385)|(162,149)|123,364|(190,481)|5,318|(55,441)|1,627|(238,977)|(115,613)|(14,952)|$(100,661)
|Change||$50,293|(22,082)|(3,398)|(11,578)|(14,848)|(5,392)|(162,149)|(169,154)|(23,854)|534|(49,364)|(173)|(72,857)|(242,011)|(93,667)|$(148,344)
Revenues: Revenues increased by 8.1%, or $50.3 million, from $618.3 million during the year ended December 31, 2018 to $668.6 million during the year ended December 31, 2019. The increase in revenues is mainly attributable to an increase of $63.4 million deriving from the full operation of the GasLog Houston, the GasLog Hong Kong and the GasLog Gladstone which were delivered on January 8, 2018, March 20, 2018 and March 29, 2018, respectively and the deliveries of the GasLog Gladstone on March 15, 2019 and the GasLog Warsaw on July 31, 2019. These deliveries resulted in an increase in revenue operating days. In addition, there was an increase of $11.0 million from our vessels trading in the spot and short-term market including the impact of the unscheduled dry-dockings of the GasLog Savannah, the GasLog Singapore and the GasLog Chelsea and an increase of $2.7 million from the remaining fleet. The above increases were partially offset by a decrease of $26.1 million from the expiration of the initial time charters of the GasLog Shanghai, the GasLog Santiago, the GasLog Sydney, the GasLog Skagen, the GasLog Saratoga and the Methane Jane Elizabeth and a decrease of $0.7 million due to increased off-hire days from the remaining vessels. The average daily hire rate increased from $68,392 for the year ended December 31, 2018 to $70,167 for the year ended December 31, 2019.
||Principal|Less:|Unamortized debt discount|Unamortized debt issuance costs|Net carrying amount of long-term debt|Less: current portion of long-term debt|Long-term debt, non-current portion
December 31, 2019|(in thousands)|$212,000||(1,328)|(3,763)|206,909|—|$206,909
December 31, 2018||$262,000||(1,630)|(4,613)|255,757|—|255,757
Attrition rates in Health are particularly relevant to the overall trail commission asset considering the relative size of the Health trail commission asset. Attrition rates vary substantially by provider and also by the duration of time the policy has been in force, with rates generally higher in policies under two years old. The attrition rates used in the valuation of the Health portfolio at 30 June 2019 ranged from 7.5% and 26.5% (2018: 7.5% and 26.5%). The simple average duration band attrition increase was up to 0.2% during the period, with higher increases experienced for policies that have been in force for shorter periods of time.
||Current|Non-current|Total trail commission asset|Reconciliation of movement in trail commission asset:|Opening balance|Trail commission revenue – current period trail commission sales sales|Cash receipts|Closing balance
CONSOLIDATED|2019 $’000|25,626|88,452|114,078||102,920|34,732|(23,574)|114,078
|2018 $’000|22,103|80,817|102,920||93,564|33,007|(23,651)|102,920
||Federal income tax expense at statutory rates|Effect of:|State income taxes, net of federal benefit|Impact of foreign operations|Non-deductible expenses|Federal tax rate change|Tax effect of TCJA from foreign earnings|Other|Changes in valuation allowance|Income tax expense
|2019|$(11,061)||(2,973)|(11)|(592)|—|(28)|(581)|92|$(15,154)
Years Ended December 31,|2018|$(8,690)||(2,665)|(146)|(1,274)|—|(130)|(645)|835|$(12,715)
|2017|$(10,892)||(2,244)|74|(1,350)|(9,046)|(2,296)|239|273|$(25,242)
In July 2015, the U.S. Tax Court issued an opinion favorable to Altera with respect to Altera’s litigation with the IRS. The litigation related to the treatment of stock-based compensation expense in an intercompany cost-sharing arrangement with Altera’s foreign subsidiary. In its opinion, the U.S. Tax Court accepted Altera’s position of excluding stock-based compensation from its intercompany cost-sharing arrangement. In June 2019, the Ninth Circuit, through a three-judge panel, reversed the 2015 decision of the U.S. Tax Court. Altera has petitioned the Ninth Circuit for an en banc rehearing of a larger panel of eleven Ninth Circuit judges. The Company will continue to monitor and evaluate the potential impact of this litigation on its fiscal year 2020 Consolidated Financial Statements. The estimated potential impact is in the range of $75 million, which may result in a decrease in deferred tax assets and an increase in tax expense.
Effective from fiscal year 2014 through 2017, the Company had a tax ruling in Switzerland for one of its foreign subsidiaries. The impact of the tax ruling decreased taxes by approximately $6.3 million for fiscal year 2017. The benefit of the tax ruling on diluted earnings per share was approximately $0.03 in fiscal year 2017. Effective fiscal year 2018, the Company has withdrawn its reduced tax rate ruling in Switzerland for this subsidiary due to the ruling being no longer necessary as the subsidiary meets the requirements to achieve the reduced tax rate under Swiss tax law.