DEXTER-CQA/TAT-QA-corpus huggingface dataset:
Allocation of GasLog Partners’ profit/(loss)(*)|Partnership’s profit/(loss) attributable to:|Common unitholders|General partner|IDRs|Paid and accrued preference equity distributions|Total|Partnership’s profit/(loss) allocated to GasLog|Partnership’s profit/(loss) allocated to non-controlling interests|Total
2018||75,879|1,602|2,618|22,498|102,597|23,882|78,715|102,597
2019||(66,268)|(1,479)|—|30,328|(37,419)|(22,467)|(14,952)|(37,419)
||Common stock outstanding:|Beginning balances|Shares issued upon exercise of stock options|Shares issued under employee stock purchase plan|Vesting of restricted stock|Purchases of treasury stock under employee stock plans|Treasury shares purchased(1)|Ending balances
|2019||164,588,172|11,348|1,282,042|1,983,261|(489,836)|(13,854,607)|153,520,380
Fiscal Year Ended August 31,|2018||177,727,653|30,832|1,105,400|2,727,229|(793,052)|(16,209,890)|164,588,172
|2017||186,998,472|172,620|1,228,316|2,102,049|(550,096)|(12,223,708)|177,727,653
Financial highlights|For the year ended December 31,|Continuing operations|Net sales|Gross profit|Gross margin|Operating profit/(loss)|Operating margin|Profit/(loss) for the year||Earnings per share, diluted|Dividend per share(1)||As of December 31|Net cash and current financial investments
|2019|EURm|23,315|8,326|35.7%|485|2.1%|18|EUR|0.00|0.00|2019|EURm|1,730
|2018|EURm|22,563|8,446|37.4%|(59)|(0.3)%|(549)|EUR|(0.10)|0.10|2018|EURm|3,053
|2017|EURm|23,147|9,139|39.5%|16|0.1%|(1,437)|EUR|(0.26)|0.19|2017|EURm|4,517
Credit risk is the risk that a counterparty will fail to discharge its obligations and cause a financial loss and arises from cash and cash equivalents, short-term investments, favorable derivative financial instruments and deposits with banks and financial institutions, as well as credit exposures to customers, including trade and other receivables, dividends receivable and other amounts due from related parties. The Group is exposed to credit risk in the event of non-performance by any of its counterparties. To limit this risk, the Group currently deals primarily with financial institutions and customers with high credit ratings.
For the year ended December 31, 2019, 70.0% of the Group’s revenue was earned from Shell (December 31, 2018 and December 31, 2017, 74.2% and 92.6%, respectively) and accounts receivable were not collateralized; however, management believes that the credit risk is partially offset by the creditworthiness of the Group’s counterparties. BG Group was acquired by Shell on February 15, 2016. This acquisition does not impact the contractual obligations under the existing charter party agreements. The Group did not experience significant credit losses on its accounts receivable portfolio during the three years ended December 31, 2019. The carrying amount of financial assets recorded in the consolidated financial statements represents the Group’s maximum exposure to credit risk. Management monitors exposure to credit risk, and they believe that there is no substantial credit risk arising from the Group’s counterparties.
(1) Due to the adoption of ASC 606 on January 1, 2018 using the modified retrospective method, amounts prior to 2018 have not been adjusted to reflect the change to recognize certain distributor sales upon sale to the distributor, or the sell-in method, from recognition upon the Company's sale to the distributors' end customers, or the sellthrough method, which required the deferral of revenue and profit on such distributor sales.
||Connected home|% of net revenue|Infrastructure|% of net revenue|Industrial and multi-market|% of net revenue|Total net revenue
|2019|$152,674|48%|85,369|27%|79,137|25%|$317,180
Year Ended December 31,|2018|$207,336|54%|82,388|21%|95,273|25%|$384,997
|2017(1)|$288,610|69%|71,779|17%|59,929|14%|$420,318
The U.S. Internal Revenue Service completed exams on the Company's U.S. federal income tax returns for years 2012 - 2015. With few exceptions, the Company is no longer subject to state and local income tax examinations by tax authorities for years before 2015. The Company conducts business and files income tax returns in numerous states. Currently, one of the Company's state tax returns is under examination by a state as part of routine audits conducted in the ordinary course of business.
||Balance of unrecognized tax benefits as of January 1,|Increases for positions taken in prior years|Rate change|Amount of decreases related to settlements|Balance of unrecognized tax benefits as of December 31,
Years Ended December 31,|2019|$1,226|1,353|(84)|—|$2,495
|2018|$37,240|657|—|(36,671)|$1,226
||Total borrowings and lease|Less: cash and cash equivalents|Net debt (surplus cash)|Total equity|Total capital|Gearing ratio
30 June 2019|$'000|867,177|(398,999)|468,178|875,303|1,343,481|35.0%
30 June 2018|$'000|302,954|(417,982)|(115,028)|893,977|778,949|-%
Per the terms of the merger agreement, unvested stock options held by WebLife employees were canceled and exchanged for the Company’s unvested awards. The fair value of $333 of these unvested options was attributed to pre-combination service and included in consideration transferred. The fair value of $1,468 was allocated to post-combination services. The unvested awards are subject to the recipient’s continued service with the Company, and $1,468 is recognized ratably as stock-based compensation expense over the required remaining service period. Also, as part of the merger agreement, 107 shares of the Company’s common stock were deferred for certain key employees with the total fair value of $9,652 (see Note 11 “Equity Award Plans”), which was not included in the purchase price. The deferred shares are subject to forfeiture if employment terminates prior to the lapse of the restrictions, and their fair value is expensed as stock-based compensation expense over the remaining period.
|||Current assets|Fixed assets|Liabilities|Deferred revenue|Customer relationships|Core/developed technology|Deferred tax liability, net|Goodwill|
||Fair value|$534|23|(88)|(700)|600|16,600|(4,440)|36,514|$49,043
Estimated|Useful Life|(in years)|N/A|N/A|N/A|N/A|5|5|N/A|Indefinite|
|Gross Debt|Cash and cash equivalents|Net debt|Adjusted EBITDA excluding integration and transformation costs and special items (1)|Net Debt to Adjusted EBITDA Ratio
2019|$35,039|(1,690)|$33,349|$9,070|3.7
2018|36,352|(488)|35,864|9,040|4.0
2017(1)|38,053|(551)|37,502|8,686|4.3
||Revenues|Gross profit|Gross margin|||Revenues|Gross profit|Gross margin|||Revenues|Gross profit|Gross margin
|Probe Cards|$491,363|$211,382|43.0 %||Probe Cards|$434,269|$187,320|43.1 %||Probe Cards|$454,794|$195,903|43.1 %
|Systems|$98,101|$50,927|51.9 %||Systems|$95,406|$47,074|49.3 %||Systems|$93,647|$46,647|49.8%
Fiscal 2019|Corporate and Other|$—|$(24,813)|— %|Fiscal 2018|Corporate and Other|$—|$(24,055)|— %|Fiscal 2017|Corporate and Other|$—|$(26,953)|— %
|Total|$589,464|$237,496|40.3 %||Total|$529,675|$210,339|39.7 %||Total|$548,441|$215,597|39.3 %
The Employee Performance Rights Plan (the Rights Plan) was approved by shareholders at the Company’s AGM on 23 November 2017. Under the Rights Plan, awards are made to eligible executives and other management personnel who have an impact on the Group’s performance. Rights Plan awards are granted in the form of performance rights over shares, which vest over a period of three years subject to meeting performance measures and continuous employment with the Company. Each performance right is to subscribe for one ordinary share upon vesting and, when issued, the shares will rank equally with other shares.
Performance rights issued and outstanding at 30 June 2019|Grant Date|2 Jul 2017|2 Jul 2018|Total
|Vesting Date1|31 Aug 2020|31 Aug 2021|
|Fair Value per Right $|3.815|3.01|
|Rights Granted|355,316|530,652|885,968
|No. of Rights at 30/6/2019|355,316|530,652|885,968
($ in millions)|At December 31, 2018:|Financing receivables, gross|Unearned income|Recorded investment|Allowance for credit losses|Unguaranteed residual value|Guaranteed residual value|Total financing receivables, net|Current portion|Noncurrent portion
|Investment in Sales-Type and Direct Financing Leases|$6,846|(526)|$6,320|(99)|589|85|$6,895|$2,834|$4,061
|Commercial Financing Receivables|$11,889|(37)|$11,852|(13)|—|—|$11,838|$11,838|$    —
|Client Loan and Installment Payment Receivables/ (Loans)|$13,614|(632)|$12,981|(179)|—|—|$12,802|$ 7,716|$ 5,086
|Total|$32,348|(1,195)|$31,153|(292)|589|85|$31,536|$22,388|$ 9,148
||Sales of goods and services to associates|Purchase of goods and services from associates|Sales of goods and services to joint arrangements|Purchase of goods and services from joint arrangements|Net interest income receivable from joint arrangements1|Trade balances owed:|by associates|to associates|by joint arrangements|to joint arrangements|Other balances owed by joint arrangements1|Other balances owed to joint arrangements1
2019|€m|27|3|242|192|96||1|3|193|25|997|169
2018|€m|19|1|194|199|120||4|2|107|28|1,328|150
2017|€m|37|90|19|183|87||–|1|158|15|1,209|127
||Debt Investments|U.S. treasury securities|Agency securities|Certificates of deposit and time deposits|Commercial paper|Corporate debt securities|Total investments
Amortized Cost|||$52,809|22,097|58,824|35,372|158,538|$327,640
Unrealized Gains|(U.S. $ in thousands)||$—|—|—|—|14|$14
Unrealized Losses|||$(109)|(82)|—|—|(669)|$(860)
Fair Value|||$52,700|22,015|58,824|35,372|157,883|$326,794
Years Ended|(In Millions)|Ongoing mark-to market adjustments on marketable equity securities|Observable price adjustments on non-marketable equity securities|Impairment charges|Sale of equity investments and other|Gains (losses) one equity investments, net|Interest and other, net
Dec 28,|2019|$277|293|(122)|1,091|$1,539|$484
Dec 29,|2018|$(129)|202|(424)|226|$(125)|$126
Dec 30,|2017|$ —|—|(833)|3,484|$2,651|$(349)
Since we are a U.S. domiciled company, we translate our foreign currency-denominated financial results into US Dollars. Due to the changes in the value of foreign currencies relative to the US Dollar, translating our financial results from foreign currencies to US Dollars may result in a favorable or unfavorable impact. Historically, the most significant currencies that have impacted the translation of our consolidated financial results are the euro, the Australian dollar, the Mexican peso, the British pound, the Canadian dollar, the Brazilian real and the Chinese Renminbi.
(In millions)|Net sales|Cost of sales|Selling, general and administrative expenses|Net earnings|Non-U.S. GAAP Adjusted EBITDA
2019 vs. 2018|$ (137.2)|98.4|16.3|(15.7)|(25.3)
2018 vs. 2017|$ (43.4)|31.7|1.0|(8.2)|(11.1)
Interest income is related to the cash and cash equivalents held by the Company. Interest expense recorded in 2019, 2018 and 2017 included respectively a charge of $39 million, $38 million and $37 million on the senior unsecured convertible bonds issued in July 2017 and July 2014, of which respectively $37 million, $36 million and $33 million was a non-cash interest expense resulting from the accretion of the discount on the liability component. Net interest includes also charges related to the banking fees and the sale of trade and other receivables.
|Integration and Transformation Costs and Special Items Impacting Adjusted EBITDA|Consumer litigation settlement|Loss on sale of data centers and colocation business|OTT/Stream impairment of content commitment and hardware, software, and internal labor(1)|Total special items impacting Adjusted EBITDA|Plus: integration and transformation costs impacting Adjusted EBITDA (2)|Plus: transaction related expenses impacting Adjusted EBTIDA|Total integration and transformation costs and special items impacting Adjusted EBITDA
|2019|$65|0|0|65|234|0|$299
|2018|0|0|60|60|378|0|438
Pro Forma (3)|2017|0|82|0|82|164|192|438
FOR THE YEAR ENDED DECEMBER 31|Notes payable (1)|Loans secured by trade receivables|Long-term debt due within one year (2)|Total debt due within one year
NOTE|26|26|22|
WEIGHTED AVERAGE INTEREST RATE AT DECEMBER 31, 2019|2.03%|2.71%|4.77%|
2019|1,994|1,050|837|3,881
2018|3,201|919|525|4,645
(1) Includes commercial paper of $1,502 million in U.S. dollars ($1,951 million in Canadian dollars) and $2,314 million in U.S. dollars ($3,156 million in Canadian dollars) as at December 31, 2019 and December 31, 2018, respectively, which were issued under our U.S. commercial paper program and have been hedged for foreign currency fluctuations through forward currency contracts. See Note 26, Financial and capital management, for additional details.
Net revenue. Total revenue decreased $0.3 million, or 0.2% in fiscal 2018 compared to fiscal 2017. Products revenue decreased $4.6 million or 12.1% while support, maintenance and subscription services revenue increased 5.8 million, or 9.1%, as a result of continued focus on selling hosted perpetual and subscription services which increased 35% year over year. Hosted perpetual and subscription services revenue comprised 16% of total consolidated revenues in 2018 compared to 12% in 2017. Professional services revenue decreased $1.4 million, or 5.5%, primarily as a result of a decrease in proprietary services of $1.5 million offset by an increase in remarketed services of $0.1 million.
Gross profit and gross profit margin. Our total gross profit increased $0.6 million, or 1.0%, in fiscal 2018 and total gross profit margin increased 0.6% to 50.6%. Products gross profit decreased $2.8 million and gross profit margin decreased 4.6% to 21.7% primarily as a result of lower product revenue coupled with higher amortization of developed technology by $2.0 million related to the previously announced general availability of the latest version of our rGuest Buy and rGuest Stay software that were placed into service in the first and second quarters of fiscal 2017, and the second quarter of fiscal 2018.
||Net revenue:|Products|Support, maintenance and subscription services|Professional services|Total net revenue|Cost of goods sold:|Products (inclusive of developed technology amortization)|Support, maintenance and subscription services|Professional services|Total cost of goods sold|Gross profit|Operating expenses:|Product development|Sales and marketing|General and administrative|Depreciation of fixed assets|Amortization of intangibles|Restructuring, severance and other charges|Legal settlements|Operating loss
Year ended March 31,|2018||26.5%|54.2|19.3|100.0||20.7|13.1|15.6|49.4|50.6||21.9|14.2|18.9|2.1|1.5|1.4|0.1|(9.5)%
|2017||30.0%|49.6|20.4|100.0||22.1|13.3|14.6|50.0|50.0||22.8|16.3|15.6|1.9|1.1|1.2|0.1|(8.9)%
||Statutory measures|Revenue|Profit / (Loss) before taxation|Net cash flow from operating activities|Alternative performance measures2|Billings|Cash EBITDA|Adjusted operating profit|Unlevered free cash flow
FY19|$M||710.6|53.6|142.9||760.3|167.9|109.0|123.8
FY18|$M||639.0|(41.0)|147.7||768.6|199.2|58.3|139.6
Change|%||11.2|nm|(3.2)||(1.1)|(15.7)|87.0|(11.3)
The Group’s profit before taxation increased by $94.6 million to $53.6 million, from a loss of $41.0 million in the prior-year, primarily as a consequence of the $80.6 million improvement in operating profit supported by a $13.4 million reduction in finance expenses. Finance expenses benefited from foreign exchange gains in the current year resulting from the strengthening of both sterling and the euro against the US dollar, compared to foreign exchange losses in the prior-year.
Cash flow from operating activities remained strong at $142.9 million, reduced by $4.8 million from $147.7 million in the prior-year. The small overall decrease was due to an increase in overheads, partially offset by a reduction in the cashflow outflow on exceptional items and an improved use of working capital. Unlevered free cashflow decreased by $15.8 million to $123.8 million representing the reduction in net cash flow from operating activities adjusted for the cashflow impact of exceptional items.
2019|Net sales |Gross profit |Net income (2,3,4) |Earnings per share (1):          |Basic |Diluted (7) 
First
Quarter|$765,544|72,383|22,226||$0.71|$0.69
Second Quarter|$789,051|70,636|24,758||$0.81|$0.79
Third Quarter|$799,644|71,030|24,801||$0.83|$0.81
Fourth Quarter|$810,195|77,789|36,831||$1.26|$1.23
Total|$3,164,434|291,838|108,616||$3.59|$3.50
In light of Mr. Bettinger’s critical role, his expanded responsibilities, and the intense competition in the technology industry for proven CFO talent, he received a special equity award on November 30, 2018. The committee consulted with its compensation consultant and with the Board to determine the amount and vesting schedule for the award. The committee granted to Mr. Bettinger a one-time service-based restricted stock unit (RSU) award with a nominal value of $8,000,000 and a four-year vesting schedule, as shown below.
The independent members of the Board consulted with the committee and the committee’s compensation consultant to determine the appropriate amount and vesting schedule for Mr. Archer’s award. The independent members of the Board, on December 6, 2018, granted to Mr. Archer a $5,000,000 equity award consisting of 50% service-based RSUs and 50% stock options with a four-year vesting schedule, as shown below. No adjustment was made at that time to his annual base salary or his target award opportunities under the AIP or LTIP. These were adjusted to be competitive with CEOs in our peer group as part of the normal annual compensation review in February 2019.
Named Executive Officer (1)(2)|Timothy M. Archer|Douglas R. Bettinger|Richard A. Gottscho|Patrick J. Lord|Vahid Vahedi|Seshasayee (Sesha) Varadarajan
Target Award Opportunity ($)|7,200,000|2,700,000|2,250,000|1,800,000|1,575,000|1,575,000
Market-based PRSUs Award (#)|21,243|7,966|6,638|5,310|4,647|4,647
Stock Options Award (#)|33,988|12,744|10,620|8,496|7,432|7,432
Service-based RSUs Award (#)|12,746|4,779|3,983|3,186|2,788|2,788
||Other Operating Data|Average Revenue Per Unit (ARPU)|ARPU—on-net|ARPU—off-net|Average price per megabit|Customer Connections—end of period|On-net|Off-net
|2019|||$ 461|$ 1,097|$ 0.62||74,554|11,660
Year Ended December 31,|2018|||$ 480|$ 1,155|$ 0.82||68,770|10,974
|Percent Change|||(3.8)%|(5.0)%|(23.9)%||8.4%|6.3%
In August 2018, ThinxNet commenced a subsequent financing transaction to raise additional funds for working capital purposes. In connection with this transaction, we converted approximately $300,000 of outstanding accounts receivable due from ThinxNet into additional ownership interest in an in-kind exchange of assets. Based on the fair value of ThinxNet at the time of conversion, we revalued the initial ownership interest and recorded an impairment charge of $326,000, which is netted within Investment Income in our consolidated statement of comprehensive income (loss). Effective March 2019, we notified ThinxNet that we expect the outstanding loan to be repaid in June 2019.
||Deferred compensation plan assets|Investment in international licensees|Equity investment in and loan to ThinxNet GmbH|Equity investment in and loan to Smart Driver Club|Deferred product cost|Other|
|2019|$6,413|2,263|2,650|-|10,094|1,090|$22,510
February 28,|2018|$5,641|2,349|2,674|3,814|3,523|828|$18,829
Director|Roelof Botha|Paul Deighton|Randy Garutti|James McKelvey|Mary Meeker|Anna Patterson|Naveen Rao|Ruth Simmons (4)|Lawrence Summers|David Viniar (5)
Fees Earned or Paid in Cash($)|—|45,000|42,500|—|—|50,000|45,000|—|50,903|—
Stock Awards ($)(1)(2)(3)|305,119|249,998|249,998|290,041|305,119|249,988|249,988|300,132|249,988|382,610
Total ($)|305,119|294,998|292,488|290,041|305,119|299,988|294,988|300,132|300,891|382,610
Claims receivable mainly represents claims against vessels’ insurance underwriters in respect of damages arising from accidents or other insured risks, as well as claims under charter contracts including off-hires. While it is anticipated that claims receivable will be recovered within one year, such claims may not all be recovered within one year due to the attendant process of settlement. Nonetheless, amounts are classified as current as they represent amounts currently due to the Company. All amounts are shown net of applicable deductibles.
FOR THE YEAR ENDED DECEMBER 31|Trade payables and accruals|Compensation payable|Maple Leaf Sports and Entertainment Ltd. (MLSE) financial liability (1)|Taxes payable|Derivative liabilities|Severance and other costs payable|Provisions|CRTC tangible benefits obligation|CRTC deferral account obligation|Other current liabilities|Total trade payables and other liabilities
NOTE|||26||26||23|26|26||
2019|2,604|589|135|101|49|35|33|28|13|367|3,954
2018|2,535|589|135|129|27|63|66|38|16|343|3,941
As a result of the development described for the segments, Income from continuing operations before income taxes declined 7 %. Severance charges for continuing operations were € 619 million, of which € 492 million were in Industrial Businesses. Accordingly, Adjusted EBITA margin Industrial Businesses excluding severance charges was 11.5 % in fiscal 2019. In fiscal 2018, severance charges for continuing operations were € 923 million, of which € 669 million were in Industrial Businesses.
|(in millions of €, earnings per share in €)|Digital Industries|Smart Infrastructure|Gas and Power|Mobility|Siemens Healthineers|Siemens Gamesa Renewable Energy|Industrial Businesses|Adjusted EBITA margin Industrial Businesses|Financial Services|Portfolio Companies|Reconciliation to Consolidated Financial Statements|Income from continuing operations before income taxes|Income tax expenses|Income from continuing operations|Income from discontinued operations, net of income taxes|Net income|Basic earnings per share|ROCE
|2019|2,880|1,500|679|983|2,461|482|8,986|10.9 %|632|(71)|(2,028)|7,518|(1,872)|5,646|3|5,648|6.41|11.1 %
Fiscal year|2018|2,898|1,574|722|958|2,221|483|8,857|11.1 %|633|(305)|(1,135)|8,050|(2,054)|5,996|124|6,120|7.12|12.6 %
|% Change|(1) %|(5) %|(6) %|3 %|11 %|0 %|1 %||0 %|77 %|(79) %|(7) %|9 %|(6) %|(98) %|(8) %|(10) %|
|Outstanding as of August 31, 2018|Changes during the period|Shares granted(1)|Shares vested|Shares forfeited|Outstanding as of August 31, 2019
Shares|8,352,307||3,144,205|(1,983,411)|(2,347,628)|7,165,473
Weighted- Average Grant-Date Fair Value|$24.34||$25.25|$25.07|$24.78|$26.27
The Revolving Credit Facility (as defined in Note 5) and the Term Loan Agreement generally require our ratio of earnings before interest, taxes, depreciation and amortization ("EBITDA") to interest expense not to be less than 3.0 to 1.0 and our ratio of funded debt to EBITDA not to exceed certain decreasing specified levels, ranging from 5.875 through the first quarter of fiscal 2020 to 3.75 from the second quarter of fiscal 2023 and thereafter, with each ratio to be calculated on a rolling fourquarter basis. As of May 26, 2019, we were in compliance with all financial covenants under the Revolving Credit Facility and the Term Loan Agreement.
The Company generally provides its customers with a one-year warranty regarding the manufactured quality and functionality of its products. For some limited products, the warranty period has been extended. The Company establishes warranty reserves based on its product history, current information on repair costs and annual sales levels. As of April 30, 2019, and 2018, respectively, changes in the carrying amount of accrued product warranty costs, reported in accrued expenses on the consolidated balance sheet, were as follows (in thousands):
|£m|Borrowings (nominal value)1|Derivative impact (nominal value of allocated swaps)|Net borrowings profile|Interest rate protection
|Fixed|2,951.8|1,073.5|4,025.3|
2019|Floating|1,667.3|(1,073.5)|593.8|87.1%
|Fixed|2,998.3|1,112.6|4,110.9|
2018|Floating|1,884.1|(1,112.6)|771.5|84.2%
The nominal value of unallocated swaps, which are excluded from the above table, is £483.4 million (2018: £566.7 million). Their fair value of £166.7 million (2018: £184.4 million) is included as a liability in the balance sheet. The term of each unallocated swap runs until its respective maturity date, the last of which runs until 2037, but each also has a mandatory or discretionary break clause which, unless otherwise agreed, would lead to earlier termination between 2020 and 2023. In the event of an early termination of an unallocated swap, a settlement amount is immediately payable by the Group.