DEXTER-CQA/TAT-QA-corpus huggingface dataset:
The Group is exposed to translation and transaction foreign exchange risk. Several other currencies in addition to the reporting currency of US dollar are used, including sterling and the euro. The Group experiences currency exchange differences arising upon retranslation of monetary items (primarily short-term inter-Company balances and long-term borrowings), which are recognised as an expense in the period the difference occurs. The Group endeavours to match cash inflows and outflows in the various currencies; the Group typically invoices its customers in their local currency and pays its local expenses in local currency, as a means to mitigate this risk.
As a result of the adoption of ASC 606, our deferred product revenues and deferred product costs for the fleet management and auto vehicle finance verticals increased as balances are now amortized over the estimated average in-service lives of these devices. Deferred income tax assets and accumulated deficit increased as a result of the changes made to our deferred product revenues and deferred product costs. The cumulative effect of the changes made to our consolidated balance sheet for the adoption of ASC 606 were as follows (in thousands):
|||Prepaid expenses and other current assets (1)|Deferred income tax assets|Other assets (1)|||Deferred revenue|Other non-current liabilities||
Balance at|February 28, 2018|Assets|$12,000|31,581|18,829||Liabilities and Stockholders' Equity|$17,757|24,249||Stockholders' equity
ASC 606|Adjustments||1,891|532|3,145|||2,156|5,007||
Balance at|March 1, 2018||$13,891|32,113|21,974|||19,913|29,256||
($ in millions)|For the year ended December 31:|Results of Operations|External revenue|Internal revenue|Total revenue|Pre-tax income
|2018||$1,590|1,610|$3,200|$1,361
|2017||$1,696|1,471|$3,168|$1,278
|Yr.-to-Yr. Percent Change||(6.3)%|9.5|1.0%|6.5%
Right-of-Use Assets|As of January 1, 2019|Additions|Depreciation expense|As of December 31, 2019
Vessel|206,753(*)|1,001|(7,722)|200,032
Vessel Equipment|2,630|336|(1,109)|1,857
Properties|4,969|1,080|(1,499)|4,550
Other|19|47|(10)|56
Total|214,371|2,464|(10,340)|206,495
On February 24, 2016, GasLog’s subsidiary, GAS-twenty six Ltd., completed the sale and leaseback of the Methane Julia Louise with a subsidiary of Mitsui. Mitsui has the right to on-sell and lease back the vessel. The vessel was sold to Mitsui for a cash consideration of $217,000. GasLog leased back the vessel under a bareboat charter from Mitsui for a period of up to 20 years. GasLog has the option to repurchase the vessel on pre-agreed terms no earlier than the end of year ten and no later than the end of year 17 of the bareboat charter. The bareboat hire is fixed and GasLog had a holiday period for the first 210 days, which expired on September 21, 2016. This leaseback meets the definition of a finance lease under IAS 17 Leases.
Our deferred revenue balance was $449 million as of June 30, 2019, compared to $994 million as of June 24, 2018. The deferred revenue at the end of June 2019 is recognized under Accounting Standard Codification (“ASC”) 606, while the same values as of June 2018 are recognized under ASC 605, which contributes to the change in value period over period. Our deferred revenue balance does not include shipments to customers in Japan, to whom title does not transfer until customer acceptance. Shipments to customers in Japan are classified as inventory at cost until the time of customer acceptance. The anticipated future revenue value from shipments to customers in Japan was approximately $78 million as of June 30, 2019, compared to $607 million as of June 24, 2018.
||Revenue (in millions)|Korea|China|Japan|Taiwan|UnitedStates|SoutheastAsia|Europe
|June 30, 2019|$9,654|23%|22%|20%|17%|8%|6%|4%
YearEnded|June 24, 2018|$11,077|35%|16%|17%|13%|7%|7%|5%
|June 25, 2017|$8,014|31%|13%|13%|26%|8%|5%|4%
||2019|Operating revenue|Operating (loss) income|Net (loss) income|Basic (loss) earnings per common share|Diluted (loss) earnings per common share|2018|Operating revenue|Operating income (loss)|Net income (loss)|Basic earnings (loss) per common share|Diluted earnings (loss) per common share
First Quarter|||$5,647|(5,499)|(6,165)|(5.77)|(5.77)||$5,945|750|115|0.11|0.11
Second Quarter|||5,578|976|371|0.35|0.35||5,902|767|292|0.27|0.27
Third Quarter|(Dollars in millions, except per share amounts)||5,606|950|302|0.28|0.28||5,818|894|272|0.25|0.25
Fourth Quarter|||5,570|847|223|0.21|0.21||5,778|(1,841)|(2,412)|(2.26)|(2.26)
Total|||22,401|(2,726)|(5,269)|(4.92)|(4.92)||23,443|570|(1,733)|(1.63)|(1.63)
During the first quarter of 2018, we recognized $71 million of expenses related to our acquisition of Level 3 followed by acquisition-related expenses of $162 million, $43 million and $117 million in the second, third and fourth quarters of 2018, respectively. During 2019, we recognized expenses related to our acquisition of Level 3 of $34 million, $39 million, $38 million and $123 million in the first, second, third and fourth quarters of 2019, respectively.
The Company operates as one operating segment. Operating segments are defined as components of an enterprise for which separate financial information is regularly evaluated by the chief operating decision maker (“CODM”), which is the Company’s chief executive officer, in deciding how to allocate resources and assess performance. The Company’s CODM evaluates the Company’s financial information for the purpose of allocating resources and assessing the performance of these resources on a consolidated basis. The Company operates as one operating segment. Operating segments are defined as components of an enterprise for which separate financial information is regularly evaluated by the chief operating decision maker (“CODM”), which is the Company’s chief executive officer, in deciding how to allocate resources and assess performance. The Company’s CODM evaluates the Company’s financial information for the purpose of allocating resources and assessing the performance of these resources on a consolidated basis.
||United States|China|Germany|Thailand|Other|Total revenue
|2019|$70,702|159,637|57,657|82,413|94,254|$464,663
Year Ended December 31,|2018|$56,839|98,906|58,711|68,217|57,218|339,891
|2017|$60,723|148,431|57,051|48,016|70,945|385,166
|||EMEA|Americas|Asia Pacific|Total
Year Ended December 31,|2019|(In millions)|$2,265|1,351|5,940|$9,556
Year Ended December 31,|2018|(In millions)|$2,478|1,264|5,922|$9,664
Year Ended December 31,|2017|(In millions)|$2,142|1,085|5,120|$8,347
% Variation|2019 vs 2018||(8.6)%|6.8|0.3|(1.1)%
% Variation|2018 vs 2017||15.7%|16.5|15.7|15.8%
Hedge ratio is 1:1 and changes in forward rate have been designated as the hedged risk. The change in the fair value of the hedging instrument is compared with the change in fair value of the hedged item, and the lower amount
is taken to OCI. If the change in fair value of the hedging instrument is higher, then the excess change in fair value is considered ineffective hedging and recorded in net foreign exchange gains and losses. Upon recognition of the
hedged net sales, the cumulative amount in hedging reserve is released in the OCI as a reclassification adjustment and recognized in net sales.
The Company reviews its freight tax obligations on a regular basis and may update its assessment of its tax positions based on available information at the time. Such information may include legal advice as to the applicability of freight taxes in relevant jurisdictions. Freight tax regulations are subject to change and interpretation; therefore, the amounts recorded by the Company may change accordingly. The tax years 2008 through 2019 remain open to examination by some of the major jurisdictions in which the Company is subject to tax.
||Total segment profit before tax|Employee benefits expense (non-facility staff)|Interest revenue|Distributions from investments|Other income|Finance costs|Head office depreciation|Overheads and other expenses|Profit/(loss) before tax
30 June 2019|$'000|62,583|(23,036)|8,220|1,344|3,034|(45,612)|(2,079)|(20,527)|(16,073)
30 June 2018|$'000|61,449|(20,752)|5,778|3,191|284|(25,452)|(1,909)|(11,698)|10,891
The Company’s other assets includes a strategic equity investment in a privately-held company. The strategic investment is a non-marketable equity security, in which the Company does not have a controlling interest or the ability to exert significant influence. This investment does not have a readily determinable market value. The Company records this strategic investment at cost less impairment and adjusts cost for subsequent observable price changes. During the years ended July 31, 2019 and 2018, there were no changes in the investment’s carrying value of $10.7 million.
||Opening balance|Granted during the year|Vested during the year|Forfeited during the year|Closing balance
30 June 2019|Number of Rights|2,948,960|828,285|(1,307,885)|-|2,469,360
30 June 2019|Average Fair Value|$1.87|$3.07|$1.19|$0.00|$2.64
30 June 2018|Number of Rights|3,460,195|762,577|(1,273,812)|-|2,948,960
30 June 2018|Average Fair Value|$1.26|$3.32|$1.09|$0.00|$1.87
The performance rights plan was established by the Board of Directors to provide long-term incentives to the Group’s Senior Executives based on total shareholder returns (TSR) taking into account the Group’s financial and operational performance. Under the Plan, eligible participants may be granted performance rights on terms and conditions determined by the Board from time to time. Performance rights were granted during the course of FY17, FY18 and FY19. The vesting conditions for grants relate to TSR exceeding the ASX 200 Accumulation Index over the measurement period. Vesting of the rights will be tested on or around the day following the release of each of the annual results for the years ended 30 June 2019, 2020 and 2021 respectively.
|Revenue|Retailer|Home trader|Other|Trade|Consumer Services|Manufacturer and Agency|Total
2019|£m|293.0|10.2|1.4|304.6|28.0|22.5|355.1
2018|£m|268.7|11.4|1.1|281.2|29.8|19.1|330.1
|Change|9%|(11%)|27%|8%|(6%)|18%|8%
Trade revenue – comprising Retailers, Home Traders and other revenue – increased by 8% to £304.6m (2018: £281.2m). Retailer revenue grew 9% to £293.0m (2018: £268.7m), driven by the launch of new products, our annual pricing event and further penetration of higher yielding advertising packages. Average Revenue Per Retailer (‘ARPR’) improved by £149 to £1,844 per month (2018: £1,695). Average retailer forecourts were stable, with a marginal increase in the year to 13,240 (2018: 13,213). Trade revenue – comprising Retailers, Home Traders and other revenue – increased by 8% to £304.6m (2018: £281.2m). Retailer revenue grew 9% to £293.0m (2018: £268.7m), driven by the launch of new products, our annual pricing event and further penetration of higher yielding advertising packages. Average Revenue Per Retailer (‘ARPR’) improved by £149 to £1,844 per month (2018: £1,695). Average retailer forecourts were stable, with a marginal increase in the year to 13,240 (2018: 13,213).
Contract liabilities are consideration we have received from our customers or billed in advance of providing goods or services promised in the future. We defer recognizing this consideration as revenue until we have satisfied the related performance obligation to the customer. Contract liabilities include recurring services billed one month in advance and installation and maintenance charges that are deferred and recognized over the actual or expected contract term, which typically ranges from one to five years depending on the service. Contract liabilities are included within deferred revenue in our consolidated balance sheet. During the years ended December 31, 2019 and December 31, 2018, we recognized $630 million and $295 million, respectively, of revenue that was included in contract liabilities as of January 1, 2019 and January 1, 2018, respectively.
||Balance at January 1|Increase related to current year tax positions|(Decrease) increase related to prior year tax positions|Decrease related to lapse in statute of limitation|Decrease related to settlements with taxing authorities|Balance at December 31
As of December 31,|2019|$3,649|2,834|(10)|(1,457)|—|$5,016
|2018|$4,670|55|46|(1,076)|(46)|$3,649
|Note payable to a bank (“Real Estate Loan”), interest payable at a fixed rate of 2.99% with monthly installments of principal and interest of $38,344 through August 2021 with remaining principal due September 2021, collateralized by three distribution facilities|Note payable, interest payable at a fixed rate of 4.50% with quarterly installments of principal and interest of $49,114 through June 2023 with remaining principal due September 2023|Note payable, interest-free with varying installments during fiscal 2019||Less current maturities|
2019|$ 2,263,040|1,395,351|—|3,658,391|(532,747)|$3,125,644
2018|$  2,648,179|1,476,772|629,746|4,754,697|(1,096,306)|$3,658,391
An impairment loss is recognised for any initial or subsequent write-down of the asset to fair value less costs to sell. A gain is recognised for any subsequent increases in fair value less costs to sell of an asset, but not in excess of any cumulative impairment loss previously recognised. A gain or loss not previously recognised by the date of the sale of the asset is recognised at the date of derecognition. Assets are not depreciated or amortised while they are classified as held for sale. Interest and other expenses attributable to the liabilities classified as held for sale continue to be recognised.
(i) Timing of revenue recognition for uninstalled materials - The Company previously recognized the majority of its revenue from the installation or construction of commercial & public works projects using the percentage-of-completion method of accounting, whereby revenue is recognized as the Company progresses on the contract. The percentage-of-completion for each project was determined on an actual cost-to-estimated final cost basis. Under ASC 606, revenue and associated profit, is recognized as the customer obtains control of the goods and services promised in the contract (i.e., performance obligations). The cost of uninstalled materials or equipment is generally excluded from the Company’s recognition of profit, unless specifically produced or manufactured for a project, because such costs are not considered to be a measure of progress.
• early reimbursement of the US$400 million Senior Unsecured Notes during the third quarter of fiscal 2018 which resulted in a $6.2 million redemption premium and the write-off of the unamortized deferred transaction costs of $2.5 million; partly offset by • higher interest cost on the First Lien Credit Facilities resulting from the full year impact of the financing of the MetroCast acquisition; and • the appreciation of the US dollar against the Canadian dollar compared to the prior year.
Years ended August 31,|(in thousands of dollars, except percentages)|Interest on long-term debt|Net foreign exchange gains|Amortization of deferred transaction costs|Capitalized borrowing costs|Other|
2019|$|176,798|(2,744)|1,836|(690)|302|175,502
2018 (1)|$|179,680|(2,134)|1,884|(2,074)|8,100|185,456
Change|%|(1.6)|28.6|(2.5)|(66.7)|(96.3)|(5.4)
Deferred implementation costs relate to direct and relevant costs on implementation of long-term contracts, to the extent such costs can be recovered through guaranteed contract revenues. As a result of the adoption of Topic 606, deferred implementation costs are no longer capitalized, but rather expensed as incurred as these costs do not relate to future performance obligations. Accordingly, these costs were adjusted through opening retained earnings as of July 1, 2018 (see note 3 "Revenues").
|Deposits and restricted cash|Deferred implementation costs|Capitalized costs to obtain a contract|Investments|Long-term prepaid expenses and other long-term assets|Total
As of June 30, 2019|$13,671|—|35,593|67,002|32,711|$148,977
As of June 30, 2018|$9,479|13,740|13,027|49,635|25,386|$111,267
|(in millions)|Deferred revenue|Unbilled deferred revenue|Total deferred revenue
January 31, 2019|ASC 606|$2,091.4|591.0|$2,682.4
|ASC 605|$2,269.2|491.6|$2,760.8
January 31, 2018|ASC 605|$1,955.1|326.4|$2,281.5
The adoption of ASC Topic 606 required a change to the definition of unbilled deferred revenue and new qualitative and quantitative disclosures around our performance obligations. Unbilled deferred revenue represents contractually stated or committed orders under early renewal and multi-year billing plans primarily for subscription, services and maintenance for which the associated deferred revenue has not been recognized. Under ASC Topic 606, unbilled deferred revenue is not included as a receivable or deferred revenue on our Consolidated Balance Sheet. See Part II, Item 8, Note 2, “Revenue Recognition” for more details on Autodesk's performance obligations.
|Buildings and improvements|Machinery and equipment |Capital assets in progress|Total property, plant and equipment held under capital leases, gross|Less: accumulated amortization |Total property, plant and equipment held under capital leases, net
2019|$23,717|12,293|11,831|47,841|(8,762)|39,079
2018|$23,717|10,995|7,747|42,459|(6,123)|36,336
SELECTED FINANCIAL DATA: IFRS|€ millions, unless otherwise stated|Income Statement Data: Years ended December 31,|Cloud revenue|Software licenses and support revenue|Cloud and software revenue|Total revenue|Operating profit|Profit after tax|Profit attributable to owners of parent|Earnings per share(1)|Basic in €|Diluted in €|Other Data:|Weighted-average number of shares outstanding|Basic|Diluted|Statement of Financial Position Data: At December 31,|Cash and cash equivalents|Total assets|Current financial liabilities(2)|Non-current financial liabilities(2)|Issued capital|Total equity
|2019||6,933|16,080|23,012|27,553|4,473|3,370|3,321||2.78|2.78|||1,194|1,194||5,314|60,215|3,273|12,923|1,229|30,822
|2018||4,993|15,628|20,622|24,708|5,703|4,088|4,083||3.42|3.42|||1,194|1,194||8,627|51,502|1,125|10,553|1,229|28,877
|2017||3,769|15,780|19,549|23,461|4,877|4,046|4,008||3.35|3.35|||1,197|1,198||4,011|42,484|1,561|5,034|1,229|25,515
|2016||2,993|15,431|18,424|22,062|5,135|3,629|3,642||3.04|3.04|||1,198|1,199||3,702|44,262|1,813|6,481|1,229|26,382
|2015||2,286|14,928|17,214|20,793|4,252|3,056|3,064||2.56|2.56|||1,197|1,198||3,411|41,390|841|8,681|1,229|23,295
For the year ended December 31, 2019, we recorded a reduction to the reserve for product returns of $0.1 million. For the years ended December 31, 2018 and 2017, we recorded a $0.3 million and $2.1 million reserve for product returns in our hardware and other revenue, respectively. Historically, we have not experienced write-offs for uncollectible accounts or sales returns that have differed significantly from our estimates.
|Unvested at December 29, 2017|Granted |Vested |Forfeited |Unvested at December 28, 2018|Granted |Vested |Forfeited |Unvested at December 27, 2019 
Shares |329,761|311,957|(113,482)|(1,506)|526,730|384,531|(115,459)|(55,193)|740,609
Weighted Average Grant Date Fair Value|$16.69|23.62|17.60|17.13|$20.60|34.44|21.32|20.46|$27.68
Stock compensation expense was $4,399, $4,094 and $3,018 for the fiscal years ended December 27, 2019, December 28, 2018 and December 29, 2017, respectively. The related tax benefit for stock-based compensation was $883, $864 and $1,283 for the fiscal years ended December 27, 2019, December 28, 2018 and December 29, 2017, respectively.
On May 17, 2019, the Company’s stockholders approved the 2019 Omnibus Equity Incentive Plan (the “2019 Plan”). Concurrently, the 2011 Omnibus Equity Incentive Plan (the “2011 Plan”) was terminated and any shares remaining available for new grants under the 2011 Plan share reserve were extinguished. The purpose of the 2019 Plan is to promote the interests of the Company and its stockholders by (i) attracting and retaining key officers, employees and directors of, and consultants to, the Company and its Subsidiaries and Affiliates; (ii) motivating such individuals by means of performance-related incentives to achieve long-range performance goals; (iii) enabling such individuals to participate in the long-term growth and financial success of the Company; (iv) encouraging ownership of stock in the Company by such individuals; and (v) linking their compensation to the long-term interests of the Company and its stockholders.
||Accrued compensation|Accrued bonus and commissions|Accrued vacation|Accrued employment taxes|Accrued severance and related costs (Note 5)|Other|
December 31,|2019|$38,186|27,039|20,647|16,468|485|6,766|$109,591
|2018|$34,095|19,835|19,019|15,598|793|6,473|$95,813
|Opening Balance as of March 31, 2018|Increase/(decrease), net|Ending Balance as of March 31, 2019
Accounts Receivable|$152,219|9,351|$161,570
Unbilled Receivable (current)|$9,900|5,366|$15,266
Unbilled Receivable (long-term)|$4,380|2,836|$7,216
Deferred Revenue (current)|$241,113|(2,674)|$238,439
Deferred Revenue (long-term)|$84,661|14,596|$99,257
||Inventories:|Raw materials|Work in process|Finished goods||Property, plant and equipment, net:|Land|Buildings|Machinery and equipment|Property, plant and equipment, gross|Less: Accumulated depreciation||Accrued expenses:|Accrued payroll and related benefits|Sales related reserves|Income taxes payable|Other|
As of|December 31, 2019||$138.4|772.9|321.1|$1,232.4||$125.2|860.6|4,275.2|5,261.0|(2,669.4)|$2,591.6||$153.4|247.3|22.5|115.6|$538.8
|December 31, 2018||$137.3|760.7|327.2|$1,225.2||$125.5|820.4|3,980.2|4,926.1|(2,376.5)|$2,549.6||$240.8|294.8|38.2|85.3|$659.1
As of December 31, 2019, 2018 and 2017, our total liability for unrecognized tax benefits was $1.5 million, $1.9 million and $2.4 million, respectively, of which $1.4 million, $1.7 million and $2.2 million, respectively, would reduce our effective tax rate if we were successful in upholding all of the uncertain positions and recognized the amounts recorded. We classify interest and penalties recognized on the liability for unrecognized tax benefits as income tax expense. As of December 31, 2019, 2018 and 2017, the balances of accrued interest and penalties were $0.5 million, $0.7 million and $0.8 million, respectively.
(In thousands)|Balance at beginning of period|Increases for tax position related to:|Prior years|Current year|Decreases for tax positions related to:|Prior years|Expiration of applicable statute of limitations|Balance at end of period
2019|$1,868||—|161||(71)|(471)|$1,487
2018|$2,366||3|254||—|(755)|$1,868
2017|$2,226||465|285||(14)|(596)|$2,366
Fiscal Year|2020|2021|2022|2023|2024|Thereafter|Total lease payments|Less amounts representing interest|Total lease liability|Less current portion of lease liability|Non-current lease liability
Operating Lease (1)|$904.3|878.3|845.5|810.3|766.4|6,140.1|10,344.9|(3,340.0)|7,004.9|494.5|$6,510.4
Finance Lease (1)|$8.0|5.3|4.3|3.0|2.1|45.4|68.1|(37.4)|30.7|6.7|$24.0
||Income before income taxes|U.S|Non-U.S||Provision (benefit) for income taxes|Current:|U.S. Federal|Non-U.S|State||Deferred:|U.S. Federal|Non-U.S|State||Total provision for income taxes
2019|||$192,442|333,330|$525,772|||$19,297|52,810|(4,347)|67,760||(4,522)|(8,007)|3,073|(9,456)|$58,304
2018|(in thousands)||$189,691|278,110|$467,801|||$(59,122)|45,083|1,721|(12,318)||29,252|(1,243)|331|28,340|$16,022
2017|||$76,699|447,713|$524,412|||$162,679|64,313|2,623|229,615||43,687|(6,476)|(106)|37,105|$266,720
increase (decrease)|(In thousands)|Payroll and payroll-related benefits|Commissions|Contract labour and consulting|Share-based compensation|Travel and communication|Marketing expenses|Facilities|Bad debt expense|Other miscellaneous|Total change in sales and marketing expenses
Change between Fiscal increase (decrease)|2019 and 2018|$(48)|(6,588)|(871)|(752)|(1,113)|(5,742)|808|3,519|(319)|$(11,106)
|2018 and 2017|$48,717|16,993|609|(454)|271|3,880|8,373|4,013|2,285|$84,687