DEXTER-CQA/TAT-QA-corpus huggingface dataset:
On November 21, 2017 (the “Cloudmark Acquisition Date”), pursuant to the terms of the merger agreement, the Company acquired all shares of Cloudmark, Inc. (“Cloudmark”), a leader in messaging security and threat intelligence for internet service providers and mobile carriers worldwide. As part of the acquisition, Cloudmark’s Global Threat Network was incorporated into Company’s cloud-based Nexus platform, which powers its email, social media, mobile, and SaaS security effectiveness. 

On November 21, 2017 (the “Cloudmark Acquisition Date”), pursuant to the terms of the merger agreement, the Company acquired all shares of Cloudmark, Inc. (“Cloudmark”), a leader in messaging security and threat intelligence for internet service providers and mobile carriers worldwide. As part of the acquisition, Cloudmark’s Global Threat Network was incorporated into Company’s cloud-based Nexus platform, which powers its email, social media, mobile, and SaaS security effectiveness.
The Company believes that with this acquisition, it will benefit from increased messaging threat intelligence from the analysis of billions of daily emails, malicious domain intelligence, and visibility into fraudulent and malicious SMS messages directed to mobile carriers worldwide. The Company also expects to achieve savings in corporate overhead costs for the combined entities. These factors, among others, contributed to a purchase price in excess of the estimated fair value of acquired net identifiable assets and, as a result, goodwill was recorded in connection with the acquisition.
|||Current assets|Fixed assets|Non-current assets|Liabilities|Deferred revenue|Customer relationships|Order backlog|Core/developed technology|Deferred tax liability, net|Goodwill|
||Fair value|$37,390|543|74|(4,422)|(15,400)|15,300|1,400|18,500|(7,905)|93,776|$139,256
Estimated|Useful Life|(in years)|N/A|N/A|N/A|N/A|N/A|8|1|4|N/A|Indefinite|
a $572 million decrease in Blizzard net bookings primarily driven by (1) lower net bookings from Hearthstone and (2) overall lower net bookings from World of Warcraft expansion and in-game content sales, primarily due to World of Warcraft: Battle for Azeroth, which was released in August 2018, with no comparable release in 2019 (although net bookings from subscriptions increased due to the release of World of Warcraft Classic in August 2019);
In July 2017, we acquired Deltenna, a wireless infrastructure company specializing in the design and delivery of radio and antenna communication solutions. Deltenna’s operations were included in our CGD reporting unit upon its acquisition. On April 1, 2019, we reorganized our reporting structure to include Deltenna in our CMS reporting unit and reassigned $3.4 million of goodwill from CGD to CMS based upon its relative fair value. Since its acquisition, Deltenna’s sales, operating results, and cash flows have not been significant to our consolidated results. As such, reportable segment information has not been restated for this change in the composition of our reportable segments.
The test for goodwill impairment is a two-step process. The first step of the test is performed by comparing the fair value of each reporting unit to its carrying amount, including recorded goodwill. If the carrying amount of a reporting unit exceeds its fair value, the second step is performed to measure the amount of the impairment, if any, by comparing the implied fair value of goodwill to its carrying amount. Any resulting impairment determined would be recorded in the current period.
|Net balances at September 30, 2017|Reassignment on October 1, 2017|Acquisitions (see Note 2)|Foreign currency exchange rate changes|Net balances at September 30, 2018|Reassignment on April 1, 2019|Acquisitions|Foreign currency exchange rate changes|Net balances at September 30, 2019
Cubic Transportation Systems|$  50,870|—|—|(1,084)|49,786|—|206,988|(2,182)|$ 254,592
Cubic Mission Solutions|$  —|125,321|13,085|(279)|138,127|3,428|40,392|(523)|$  181,424
Cubic Global Defense|$  270,692|(125,321)|665|(323)|145,713|(3,428)|—|(204)|$  142,081
Total|$  321,562|—|13,750|(1,686)|333,626|—|247,380|(2,909)|$  578,097
The Company had no dilutive common share equivalents during the year ended December 31, 2019, due to the results of operations being a loss from continuing operations, net of tax. The following potential weighted common shares were excluded from diluted EPS for the year ended December 31, 2018 as the shares were antidilutive: 2,168,454 for outstanding warrants to purchase the Company's stock, 353,960 for unvested restricted stock awards, and 4,919,760 for convertible preferred stock.
||Net (loss) income attributable to common stock and participating preferred stockholders|Earnings allocable to common shares:|Numerator for basic and diluted earnings per share|Participating shares at end of period:|Weighted-average common stock outstanding|Unvested restricted stock|Preferred stock (as-converted basis)|Total|Percentage of loss allocated to:|Common stock|Unvested restricted stock|Preferred stock|Net (loss) income attributable to common stock, basic|Distributed and Undistributed earnings to Common Shareholders:|Effect of assumed shares under treasury stock method for stock options and restricted shares and if-converted method for convertible instruments|Income from the dilutive impact of subsidiary securities|Net (loss) income attributable to common stock, diluted|Denominator for basic and dilutive earnings per share|Weighted average common shares outstanding - basic|Effect of assumed shares under treasury stock method for stock options and restricted shares and if-converted method for convertible instruments|Weighted average common shares outstanding - diluted|Net (loss) income attributable to participating security holders - Basic|Net (loss) income attributable to participating security holders - Diluted
Years Ended December 31,|2019|$(31.5)||||44.8|0.6|2.1|47.5||94.3 %|1.3 %|4.4 %|$(29.7)||—|—|$ (29.7)||44.8|—|44.8|$ (0.66)|$ (0.66)
Years Ended December 31,|2018|$155.6||||44.3|0.4|4.9|49.6||89.3 %|0.8 %|9.9 %|$139.0||(3.3)|—|$ 135.7||44.3|2.5|46.8|$ 3.14|$ 2.90
|2019|Net sales|Gross margin|Operating earnings|Net earnings|Basic earnings per share|Diluted earnings per share|2018|Net sales|Gross margin|Operating earnings|Net earnings|Basic earnings per share|Diluted earnings per share
First||$117,625|$40,615|$14,218|$11,419|$0.35|$0.34||$113,530|$38,433|$13,359|$ 11,54|$0.35|$0.34
Second||$120,684|$41,204|$17,083|$11,943|$0.36|$0.36||$118,021|$41,813|$14,544|$7,209|$0.22|$0.21
Third||$115,651|$37,057|$10,124|$2,722|$0.08|$0.08||$118,859|$42,082|$16,118|$10,211|$0.31|$0.30
Fourth||$115,040|$38,700|$12,391|$10,062|$0.31|$0.31||$120,073|$42,645|$17,017|$17,564|$0.53|$0.52
Years ended August 31,|(In thousands of Canadian dollars)||Salaries, employee benefits and outsourced services|Service delivery costs(1)|Customer related costs(2)|Other external purchases(3)|
2019|$||345,041|661,214|83,401|114,324|1,203,980
2018|$|(restated, Note 3)|317,118|615,267|68,744|120,496|1,121,625
FOR THE YEAR ENDED DECEMBER 31|Observable markets data|Equity securities|Canadian|Foreign|Debt securities|Canadian|Foreign|Money market|Non-observable markets inputs|Alternative investments|Private equities|Hedge funds|Real estate|Other|Total
2019|||1,017|4,534||13,216|2,385|219|||2,119|1,001|948|91|25,530
2018|||844|3,770||12,457|2,004|327|||1,804|1,014|758|93|23,071
October 31,||(In thousands)|Deferred tax liabilities: |Property, plant and equipment|Prepaid and other assets |Total deferred tax liabilities |Deferred tax assets: |Accrued expenses and accounts receivable |Inventory |Compensation on restricted stock |State income tax credits |Other |Valuation allowance |Net operating loss |Total deferred tax assets |Net deferred tax liabilities
|2019|||$148,505|1,911|150,416||8,172|1,155|7,528|9,333|1,272|(5,637)|54,461|76,284|$74,132
|2018|||$88,351|1,751|90,102||7,814|2,862|8,280|12,235|654|(11,017)|6,481|27,309|$62,793
||Operating income (GAAP) (1)|Non-GAAP adjustments:|(Gain) loss on write down and disposal of long-lived assets|ERP integration costs/IT transition costs|Stock-based compensation|Restructuring charges (2)|Legal expenses related to antitrust class actions|TOKIN investment-related expenses|Plant start-up costs (2)|Adjusted operating income (non-GAAP) (1)
|2019|$200,849||1,660|8,813|12,866|8,779|5,195|—|(927)|$237,235
Fiscal Years Ended March 31,|2018|$112,852||(992)|80|7,657|14,843|6,736|—|929|$142,105
|2017|$34,968||10,671|7,045|4,720|5,404|2,640|1,101|427|$66,976
||Effect of foreign exchange rate changes on cash and cash equivalents|Net decrease in cash and cash equivalents|Cash and cash equivalents, and restricted cash at beginning of period (2)|Cash and cash equivalents, and restricted cash at end of period (2)
|2019|—|(472.7)|901.3|$428.6
Year ended March 31,|2018|—|(7.4)|908.7|$901.3
|2017|(1.0)|(1,184.0)|2,092.7|$908.7
Nevertheless, our use of adjusted gross margin has limitations as an analytical tool, and you should not consider it in isolation or as a substitute for analysis of our financial results as reported under GAAP. You should consider adjusted gross margin alongside our other GAAP-based financial performance measures, gross profit and our other GAAP financial results. The following table presents a reconciliation of adjusted gross margin to gross profit, the most directly comparable GAAP measure, for each of the periods indicated (in thousands):
The Company considered both positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax planning strategies, historic book profit/loss, prior taxable income/loss, and results of future operations, and determined that a valuation allowance was not required for a significant portion of its deferred tax assets. A valuation allowance of $31.4 million and $28.5 million remained as of July 31, 2019 and 2018, respectively.
||Accruals and reserves|Stock-based compensation|Deferred revenue|Property and equipment|Net operating loss carryforwards|Tax credits|Total deferred tax assets|Less valuation allowance|Net deferred tax assets|Less deferred tax liabilities:   |Intangible assets|Convertible debt|Property and equipment|Unremitted foreign earnings|Capitalized commissions|Total deferred tax liabilities|Deferred tax assets, net|Less foreign deferred revenue|Less foreign capitalized commissions|Total net deferred tax assets
As of July 31,|2019|$7,870|6,353|2,316|—|55,881|74,819|147,239|31,421|115,818||7,413|10,274|1,435|302|6,086|25,510|90,308|—|906|89,402
|2018|$12,129|7,658|4,023|1,268|56,668|60,450|142,196|28,541|113,655||11,461|11,567|—|258|—|23,286|90,369|69|—|90,300
||Primary service units|Internet service customers|Video service customers|Telephony service customers
|August 31, 2019|901,446|446,137|312,555|142,754
Net additions (losses)|August 31, 2019|16,981|21,189|(4,697)|489
|August 31, 2018 (1)|20,251|21,417|(6,760)|5,594
% of penetration(2)(3)|August 31, 2019||50.8|35.6|16.2
|August 31, 2018 (3)||49.7|37.1|16.6
We assess our deferred contract costs for impairment on a quarterly basis. We recognize an impairment charge to the extent the carrying amount of a deferred cost exceeds the remaining amount of consideration we expect to receive in exchange for the goods and services related to the cost, less the expected costs related directly to providing those goods and services that have not yet been recognized as expenses. There have been no impairment charges recognized for the years ended December 31, 2019 and 2018.
We define ROIC as tax-effected operating income before restructuring and other special items divided by average invested capital over a rolling five-quarter period for the fiscal year. Invested capital is defined as equity plus debt, less cash and cash equivalents. Other companies may not define or calculate ROIC in the same way. ROIC and other non-GAAP financial measures should be considered in addition to, not as a substitute for, measures of our financial performance prepared in accordance with U.S. generally accepted accounting principles ("GAAP").
We review our internal calculation of WACC annually. Our WACC was 9.0% for fiscal year 2019 and 9.5% for fiscal year 2018. By exercising discipline to generate ROIC in excess of our WACC, our goal is to create value for our shareholders. Fiscal 2019 ROIC of 13.1% reflects an Economic Return of 4.1%, based on our weighted average cost of capital of 9.0%, and fiscal 2018 ROIC of 16.1% reflects an Economic Return of 6.6%, based on our weighted average cost of capital of 9.5% for that fiscal year.
2.1 Office Buildings|Indicators||Total energy consumption (MWh)|Direct energy consumption (MWh)|Including: Gasoline (MWh)|Diesel (MWh)|Natural gas (MWh)|Indirect energy consumption (MWh)|Including: Purchased electricity (MWh)|Total energy consumption per employee (MWh per employee)|Total energy consumption per floor area (MWh per square metre)|Running water consumption (tonnes)|Running water consumption per employee (tonnes per employee)|Recycled water consumption (tonnes)
|For the year ended 31 December|2019|205,092.26|19,144.17|805.77|41.33|18,297.07|185,948.09|185,948.09|3.44|0.12|1,283,749.73|21.52|4,076
||2018|167,488.48|12,852.04|780.24|42.10|12,029.70|154,636.44|154,636.44|3.28|0.14|973,413.06|19.07|5,461
|||Net cash from operating activities|Net cash used in investing activities|Excluding:|Payment for purchase and proceeds from sale of marketable securities, and net cash variation for joint ventures deconsolidation|Payment for purchase and proceeds from sale of tangible and intangible assets, payment for business acquisitions(1)|Free Cash Flow (non-U.S. GAAP measure)
|2019||$1,869|(1,172)||(200)|(1,372)|$497
Year Ended December 31,|2018|(In millions)|$1,845|(1,212)||(100)|(1,312)|$533
|2017||$1,677|(1,468)||99|(1,369)|$308
On 27 May 2019, the Group completed an off-market share buy-back of 58,733,844 ordinary shares. The ordinary shares were bought back at $28.94, representing a 14% discount to the Group’s market price of $33.64 (being the volume weighted average price of the Group’s ordinary shares over the five trading days up to and including the closing date of 24 May 2019), and comprised a fully franked dividend component of $24.15 per share ($1,419 million) and a capital component of $4.79 per share ($282 million), including $1 million of associated transaction costs (net of tax). The shares bought back were subsequently cancelled.
||SHARE CAPITAL|1,258,690,067 fully paid ordinary shares (2018: 1,313,323,941)|Movement:|Balance at start of period|Share buy-back|Issue of shares to satisfy the dividend reinvestment plan|Balance at end of period|SHARES HELD IN TRUST|Movement:|Balance at start of period|Issue of shares to satisfy employee long-term incentive plans|Issue of shares to satisfy the dividend reinvestment plan|Purchase of shares by the Woolworths Employee Share Trust|Balance at end of period|Contributed equity at end of period
2019|NUMBER|M|||1,313.3|(58.7)|4.1|1,258.7|||(4.9)|0.2|(0.2)|(2.0)|(6.9)|1,251.8
||$M|||6,201|(282)|114|6,033|||(146)|6|(5)|(60)|(205)|5,828
2018|NUMBER|M|||1,294.4|–|18.9|1,313.3|||(3.4)|0.6|(0.1)|(2.0)|(4.9)|1,308.4
||$M|||5,719|–|482|6,201|||(104)|21|(3)|(60)|(146)|6,055
||Net income |Distributed and undistributed (earnings) to unvested restricted|Distributed and undistributed earnings to common shareholders -- Basic|Weighted average shares outstanding — Basic |Weighted average shares outstanding — Diluted |Earnings per common share — Basic |Earnings per common share — Diluted 
|October 31, 2019|$53,294|(778)|52,516|21,829|21,829|$2.41|$2.41
For the years ended |October 31, 2018  |$61,431|(878)|60,553|22,429|22,429|$2.70|$2.70
|October 31, 2017|$279,745|(4,285)|275,460|22,393|22,393|$12.30|$12.30
|Deferred tax assets:|Reserves and accruals|Net operating loss and credit carryforwards|Stock-based compensation|Deferred revenue|Other|Gross deferred tax assets|Valuation allowance|Deferred tax assets, net of valuation allowance|Deferred tax liabilities:|Prepaids and accruals|Acquired intangibles|Property and equipment|Other|Total deferred tax liabilities|Deferred tax assets, net of valuation allowance and deferred tax liabilities
April 26, 2019||$ 50|139|16|205|16|426|(123 )|303||31|32|31|10|104|$199
April 27, 2018||$ 57|131|22|156|29|395|(109 )|286||21|29|25|14|89|$197
End-Use Market Data|($ in millions)|Aerospace and Defense|Medical|Energy|Transportation|Industrial and Consumer|Distribution|Total net sales
Year Ended June 30,|2019|$1,327.9|205.0|181.7|157.7|371.5|136.4|$2,380.2
Year Ended June 30,|2018|$1,182.3|175.3|146.5|157.0|364.9|131.7|$2,157.7
Year Ended June 30,|2017|$973.3|125.5|138.0|143.9|298.2|118.7|$1,797.6
||Revenue:|Product|Percentage of revenue|Service|Percentage of revenue|Total
|July 27, 2019 (1)||$39,005|75.1%|12,899|24.9%|$51,904
Years Ended|July 28, 2018||$36,709|74.4%|12,621|25.6%|$49,330
|July 29, 2017||$35,705|74.4%|12,300|25.6%|$48,005
2019 vs. 2018|Variance in Dollars||$2,296||278||$2,574
|Variance in Percent||6%||2%||5%
Land, property and equipment are stated at cost, net of accumulated depreciation and amortization. Depreciation and amortization are computed using the straight-line method over the estimated useful lives of the assets, or for leasehold improvements, the shorter of the remaining lease term or the estimated useful life. The estimated useful lives for machinery and equipment range from 5 to 7 years and for office, computer and research equipment from2 to 5 years. Expenditures for major renewals and improvements that extend the useful life of property and equipment are capitalized.
Depreciation and amortization expense was $0.6 million and $0.8 million for fiscal years2019 and 2018, respectively. In accordance with ASC Topic 360, Property, Plant and Equipment (ASC 360), the Company assesses all of its long-lived assets, including intangibles, for impairment when impairment indicators are identified. If the carrying value of an asset exceeds its undiscounted cash flows, an impairment loss may be necessary. An impairment loss is calculated as the difference between the carrying value and the fair value of the asset.
March 31,|(in thousands)|Land|Machinery and equipment|Office, computer and research equipment|Leasehold improvements|Land, property and equipment, gross|Less accumulated depreciation and amortization|Land, property and equipment, net
|2019|$672|1,372|5,267|798|$8,109|(6,811)|$1,298
|2018|$672|1,296|5,175|1,238|$8,381|(6,780)|$1,601
||Sales:|Product and equipment sales to affliates|Purchases|Purchases of resale inventories, raw materials, supplies, equipment, and services|Other|Dividends paid
|2017||$30,303||303,793||52,983
Fiscal Yaar Ended March 31,|2018||$26,069||256,660||54,810
|2019||$10,436||9,399||56,028
Kyocera notified AVX pursuant to the Products Supply and Distribution Agreement in December 2016 of its intent, effective January 1, 2018, to market its
manufactured electronic and interconnect products globally using Kyocera’s sales force rather than continuing to have AVX resell such products in the Americas,
Europe and Asia. During fiscal 2017, 2018 and 2019 sales of Kyocera resale products by AVX were $318,928, $296,316 and $18,951, respectively, and related operating
profit was $17,076, $18,177 and $3,300, respectively
During Fiscal 2017 and in the context of acquisitions made in Fiscal 2017, we began to implement restructuring activities to streamline our operations (collectively referred to as the Fiscal 2017 Restructuring Plan). The Fiscal 2017 Restructuring Plan charges relate to workforce reductions and facility consolidations. These charges require management to make certain judgments and estimates regarding the amount and timing of restructuring charges or recoveries. Our estimated liability could change subsequent to its recognition, requiring adjustments to the expense and the liability recorded. On a quarterly basis, we conduct an evaluation of the related liabilities and expenses and revise our assumptions and estimates as appropriate.
Fiscal 2017 Restructuring Plan|Balance payable as at June 30, 2017|Accruals and adjustments|Cash payments|Foreign exchange and other non-cash adjustments|Balance payable as at June 30, 2018|Accruals and adjustments|Cash payments|Foreign exchange and other non-cash adjustments|Balance payable as at June 30, 2019
Workforce reduction|$10,045|3,432|(12,342)|455|$1,590|(254)|(213)|(77)|$1,046
Facility costs|$1,369|3,775|(1,627)|(86)|$3,431|1,152|(1,290)|(344)|$2,949
Total|$11,414|7,207|(13,969)|369|$5,021|898|(1,503)|(421)|$3,995
Franchise acquisitions — In 2019 and 2018 we did not acquire any franchise restaurants. In 2017 we acquired 50 franchise restaurants. Of the 50 restaurants acquired, we took over 31 restaurants as a result of an agreement with an underperforming franchisee who was in violation of franchise and lease agreements with the Company. Under this agreement, the franchisee voluntarily agreed to turn over the restaurants. The acquisition of the additional 19 restaurants in 2017 was the result of a legal action filed in September 2013 against a franchisee, from which legal action we obtained a judgment in January 2017 granting us possession of the restaurants. Of the 50 restaurants acquired in 2017, we closed eight and sold 42 to franchisees.
|Restaurants sold to franchisees|New restaurants opened by franchisees|Proceeds from the sale of company-operated restaurants:|Cash (1)|Notes receivable|||Net assets sold (primarily property and equipment)|Lease commitment charges (2)|Goodwill related to the sale of company-operated restaurants|Other (3)|Gains on the sale of company-operated restaurants
2019|—|19||$1,280|—|$1,280||$—|—|(2)|88|$1,366
2018|135|11||$26,486|70,461|$96,947||$(21,329)|—|(4,663)|(24,791)|$46,164
2017|178|18||$99,591|—|$99,591||$(30,597)|(11,737)|(10,062)|(9,161)|$38,034
Quarters Ended|Revenue .|Gross margin|Operating income|Net income|Net income per share - basic|Net income per share - diluted|Cash dividends declared per common share .|Cash and cash equivalents and investments .
July 27, 2019 (1)|$13,428|$8,574|$3,690|$2,206|$0.52|$0.51|$0.35|$33,413
April 27, 2019|$12,958|$8,173|$3,513|$3,044|$0.70|$0.69|$0.35|$34,643
January 26, 2019|$12,446|$7,773|$3,211|$2,822|$0.63|$0.63|$0.33|$40,383
October 27, 2018|$13,072|$8,146|$3,805|$3,549|$0.78|$0.77|$0.33|$42,593
The Group also obtained external valuations on 31 freehold investment properties acquired during the year ended 30 June 2019 (year ended 30 June 2018: 19 freehold investment properties). These external valuations provide the basis of the Directors’ valuations applied to these properties at 30 June 2019 and 30 June 2018. Including these valuations, 51% of freehold investment properties were subject to external valuations during the year (year ended 30 June 2018: 43% of freehold investment properties).
||Non-vested at beginning of year|Shares granted|Shares vested|Non-vested at end of year
2019|Number of Shares|315,292|253,113|82,270|486,135
|Weighted Average Grant Date Fair Value|$2.26|2.17|2.28|$2.53
2018|Number of Shares|438,712|200,000|323,420|315,292
|Weighted Average Grant Date Fair Value|$2.28|3.16|2.84|$2.26
||Current provision for income taxes:|State|Foreign|Total current|Deferred tax expense (benefit):|Federal|Foreign|Total deferred|Provision for income taxes
|2019||$49|1,716|1,765||3|(361)|(358)|$1,407
Years Ended December 31,|2018||$44|953|997||(13)|98|85|$1,082
31,|2017||$48|1,023|1,071||26|109|135|$1,206
General and administrative expenses increased by $2.7 million during the year ended June 30, 2019 as compared to the prior fiscal year. This was primarily due to an increase in payroll and payroll-related benefits of $4.1 million and an increase in other miscellaneous expenses of $2.2 million, which includes professional fees such as legal, audit and tax related expenses. These were partially offset by a reduction in the use of facility and related expenses of $4.5 million. The remainder of the change was attributable to other activities associated with normal growth in our business operations. Overall, general and administrative expenses, as a percentage of total revenue, remained at approximately 7%.