DEXTER-CQA/TAT-QA-corpus huggingface dataset:
|Currently payable:|Federal|State|Foreign||Deferred and other:|Federal|State|Foreign||Provision for income taxes
2019||$1,995|557|13,448|16,000||(407)|516|(9,886)|(9,777)|$6,223
2018||$1,163|114|107,487|108,764||26,334|(489)|(20,414)|5,431|$114,195
2017||$5,617|1,022|116,022|122,661||1,413|(153)|(30,510)|(29,250)|$93,411
|Net earnings|Severance, acquisition and other costs|Depreciation|Amortization|Finance costs|Interest expense|Interest on post-employment benefit obligations|Other expense|Income taxes|Adjusted EBITDA|BCE operating revenues|Adjusted EBITDA margin
2019|3,253|114|3,496|902||1,132|63|13|1,133|10,106|23,964|42.2%
2018|2,973|136|3,145|869||1,000|69|348|995|9,535|23,468|40.6%
|||Goodwill|Customer relationships, less accumulated amortization of $9,809 and $8,492|Indefinite-life intangible assets|Other intangible assets subject to amortization:|Capitalized software, less accumulated amortization of $2,957 and $2,616|Trade names, less accumulated amortization of $91 and $61|Total other intangible assets, net
As of December 31|2019|(Dollars in million)|$21,534|$7,596|$269||$1,599|103|$1,971
|2018||28,031|8,911|269||1,468|131|1,868
Years ended August 31,|(in thousands of dollars, except percentages)|Canadian broadband services|American broadband services|Inter-segment eliminations and other|
2019 (1)|$|688,681|465,645|(46,386)|1,107,940
2018 (2)|$|681,020|369,200|(43,402)|1,006,818
Change|%|1.1|26.1|6.9|10.0
Change in constant currency (3)|%|1.3|21.5|6.8|8.5
Foreign exchange impact (3)|$|(1,102)|16,911|(12)|15,797
||||Increase in revenue|Decrease in cost of sales|Increase in loss on sale of business included in selling, general and administrative expense|Increase in depreciation expense (one-time)|Increase in depreciation expense (ongoing)|Increase in interest expense|Decrease in income tax expense|Decrease in net income
Positive (Negative) Impact to Net Income|December 31,|2018|(Dollars in millions)|$74|22|—|—|(69)|(55)|7|$(21)
||2017||49|15|(102)|(44)|(47)|(39)|65|(103)
After factoring in the costs to sell the data centers and colocation business, excluding the impact from the failed-sale-leaseback accounting treatment, the sale resulted in a $20 million gain as a result of the aggregate value of the proceeds we received exceeding the carrying value of the assets sold and liabilities assumed. Based on the fair market values of the failed-sale-leaseback assets, the failed-sale-leaseback accounting treatment resulted in a loss of $102 million as a result of the requirement to treat a certain amount of the pre-tax cash proceeds from the sale of the assets as though it were the result of a financing obligation. The combined net loss of $82 million was included in selling, general and administrative expenses in our consolidated statement of operations for the year ended December 31, 2017.
Named Executive Officer|Mark J. Barrenechea|Madhu Ranganathan|Muhi Majzoub|Gordon A. Davies|Simon Harrison
Performance Share Units|$2,815,000|$500,000|$550,000|$500,000|$218,750
Restricted Share Units|$1,407,500|$250,000|$275,000|$250,000|$109,375
Stock Options|$1,407,500|$250,000|$275,000|$250,000|$109,375
Total|$5,630,000|$1,000,000|$1,100,000|$1,000,000|$437,500
||Net revenue|Gross profit|Operating income|Net income attributable to Jabil Inc|Earnings per share – basic|Earnings per share – diluted
|2019|$25,282,320|$1,913,401|$701,356|$287,111|$1.85|$1.81
Fiscal Year Ended August 31,|2018|$22,095,416|$1,706,792|$542,153|$86,330|$0.50|$0.49
|2017|$19,063,121|$1,545,643|$410,230|$129,090|$0.71|$0.69
Our purchase of CareSpeak Communications contains a contingent element that will be paid only if the Company achieves certain patient engagement revenues in 2019 and 2020. The total contingent payment may be up to $3.0 million. The target patient engagement revenues were achieved in 2019 and are expected to be achieved in 2020. The calculated fair value of the contingent payment was $2,365,000 at December 31, 2018 and $3,000,000 at December 31, 2019.
Our purchase of RMDY Health, Inc. also contains a contingent element that will be paid only if the Company achieves certain revenues in 2020 and 2021 related to the RMDY business. The total contingent payment may be up to $30.0 million. The minimum payment is $1.0 million in each of the two years. The calculated fair value of the contingent payment was $3,720,000 at December 31, 2019. We determined the fair value of the Contingent Purchase Price Payable at December 31, 2019 using a Geometric-Brownian motion analysis of the expected revenue and resulting earnout payment using inputs that include the spot price, a risk free rate of return of 1.4%, a term of 2 years, and volatility of 40%. Changes in the inputs could result in a different fair value measurement.
Adjusted EBITA was clearly up compared to fiscal 2018, with increases in the imaging and advance therapies businesses. The diagnostics business recorded lower Adjusted EBITA year-over-year due mainly to Combined Management Report 13 increases in costs related to its Atellica Solution platform. Severance charges were € 57 million in fiscal 2019 and € 96 million in fiscal 2018. The order backlog for Siemens Healthineers was € 18 billion at the end of the fiscal year, of which € 6 billion are
expected to be converted into revenue in fiscal 2020.
While demand in the markets served by Siemens Healthineers continued to grow in fiscal 2019, these markets also showed price pressure on new purchases and increased utilization rates for installed systems. All major served markets were in a healthy state, which contributed to a slightly higher market growth in Europe, C. I. S., Africa, Middle East and the Americas, most notably in the imaging and advanced therapies markets. The markets in Asia, Australia grew moderately. Markets in the U. S. showed slight growth in the imaging and clear growth in the advanced therapies
business, with continued moderate market growth in diagnostics.
|(in millions of €)|Orders|Revenue|Adjusted EBITA|Adjusted EBITA margin
|2019|15,853|14,517|2,461|17.0 %
Fiscal year|2018|14,506|13,425|2,221|16.5 %
|Actual|9 %|8 %|11 %|
% Change|Comp.|7 %|6 %||
|Balance as of January 1, 2017  |Common Shares Issued in Follow-on Offering|Balance as of December 31, 2017  |Authorization of additional authorized shares  |Balance as of December 31, 2018  |At-the-Market Offering  |Balance as of December 31, 2019  
Authorized
Shares|180,000,000|-|180,000,000|180,000,000|360,000,000|-|360,000,000
Issued and Out-
standing Shares|101,969,666|40,000,000|141,969,666|-|141,969,666|5,260,968|147,230,634
Common Stock|1,020|400|1,420|-|1,420|52|1,472
||Expected term (in years)|Expected volatility|Risk-free interest rate|Expected dividend yield|Offering grant date fair value of ESPP rights
|2019|0.5|47%|2.01%|0%|$33.66
Year ended December 31,|2018|0.5|42%|2.31%|0%|$18.07
|2017|0.5|34%|1.20%|0%|$9.52
October 31,||(In thousands)|Workers’ compensation claims|Accrued wages|Accrued rebates|Accrued vacation |Accrued property taxes |Accrued payroll taxes|Other accrued expenses |Total accrued expenses
|2019||$9,687|19,525|13,529|10,592|11,331|8,290|9,986|$82,940
|2018||$9,020|14,142|7,828|8,554|9,453|9,034|11,922|$69,953
|Outstanding – December 31, 2017|Options granted|Options exercised|Options forfeited|Outstanding – December 31, 2018|Options granted|Options exercised|Options forfeited|Outstanding – December 31, 2019|Exercisable – December 31, 2019
Number of Options Outstanding|2,341,340|376,667|224,400|6,961|2,486,646|50,832|-|181,281|2,356,197|1,843,468
Weighted Average Exercise Price|$1.77|2.41|1.59|1.42|$1.89|3.02||2.23|$1.89|$1.75
Average Remaining Contractual Life (in years)|5.78||||7.01||||5.93|5.34
Aggregate Intrinsic Value (thousands)|$1,087||||$1,550||||$628|$624
|||Cash and cash equivalents|Marketable securities|Working capital|Net cash provided by operating activities|Net cash used in investing activities|Net cash provided by (used in) financing activities
|2019||$36,617|434,761|368,912|72,819|(103,579)|6,933
Year Ended December 31,|2018|(in thousands)|$60,444|339,424|370,445|83,085|(56,237)|(33,899)
|2017||$67,495|297,115|361,621|61,893|(207,907)|5,477
||Capitalized software development costs|Total capitalized software development costs|||Capitalized software development costs|Total capitalized software development costs
|Gross carrying amount|$ 49,909|$ 49,909||Gross carrying amount|$ 45,677|$ 45,677
|Amortization period|3 years|||Amortization period|3 years|
As of December 31, 2019|Accumulated amortization|$ (35,622)|$ (35,622)|As of December 31, 2018|Accumulated amortization|$ (32,784)|$ (32,784)
|Net carrying amount|$ 14,287|$ 14,287||Net carrying amount|$ 12,893|$ 12,893
Our principal executive offices, as well as our research and development facility, are located in approximately 29,000 square feet of office space in San Diego, California and the term of the lease continues through June 30, 2024. The average annual base rent under this lease is approximately $1.0 million per year. In connection with this lease, we received tenant improvement allowances totaling approximately $1.0 million. These lease incentives are being amortized as a reduction of rent expense over the term of the lease.
Our other offices are located in Paris, France; Amsterdam, The Netherlands; New York, New York; Barcelona, Spain; and London, United Kingdom. The
term of the Paris, France lease continues through July 31, 2021, with an annual base rent of approximately €0.4 million (or $0.4 million). The term of the
Amsterdam, The Netherlands lease continues through December 31, 2022, with an annual base rent of approximately €0.2 million (or $0.2 million). The term of
the New York, New York lease continues through November 30, 2024, with an annual base rent of approximately $0.2 million. The term of the Barcelona, Spain lease continues through May 31, 2023, with an annual base rent of approximately €0.1 million (or $0.1 million). The term of the London, United Kingdom lease continues through May 31, 2020, with an annual base rent of approximately £63,000 (or approximately $78,000). Our other offices are located in Paris, France; Amsterdam, The Netherlands; New York, New York; Barcelona, Spain; and London, United Kingdom. The term of the Paris, France lease continues through July 31, 2021, with an annual base rent of approximately €0.4 million (or $0.4 million). The term of the Amsterdam, The Netherlands lease continues through December 31, 2022, with an annual base rent of approximately €0.2 million (or $0.2 million). The term of the New York, New York lease continues through November 30, 2024, with an annual base rent of approximately $0.2 million. The term of the Barcelona, Spain lease continues through May 31, 2023, with an annual base rent of approximately €0.1 million (or $0.1 million). The term of the London, United Kingdom lease continues through May 31, 2020, with an annual base rent of approximately £63,000 (or approximately $78,000).
On October 16, 2017, the Company deposited $1.5 million of cash into an escrow fund to serve as collateral and partial security for working capital adjustments and certain indemnification rights. In April 2018, the Q4 Consideration of $1.5 million was deposited into the escrow fund. As a result of the achievement of earnout targets during fiscal 2018, the Company paid $1.8 million in January 2019. The Company intends to extend the period over which the remaining $1.8 million of earnout consideration is earned. A portion of the earnout consideration will be paid during first quarter of fiscal 2020 based on the achievement of revenue and income targets earned during fiscal 2019. The remaining portion of the earnout consideration will be paid out during the first quarter of fiscal 2021, which will be based on the achievement of certain revenue, income, development and corporate targets achieved during fiscal 2020. During the first quarter of fiscal 2020, the Company released all escrow funds, excluding $1.0 million which is being held for any potential settlement relating to the claims which may arise from the litigation which was brought on by Global Equity & Corporate Consulting, S.L. against ICAR as more fully described in Note 9.
|Current assets|Property, plant, and equipment|Intangible assets|Goodwill|Other non-current assets|Current liabilities|Deferred income tax liabilities|Other non-current liabilities|Net assets acquired
A2iA|$3,929|307|28,610|24,991|1,177|(2,688)|(7,503)|(7)|$48,816
ICAR|$2,036|83|6,407|6,936|87|(1,652)|(1,602)|(828)|$11,467
Total|$5,965|390|35,017|31,927|1,264|(4,340)|(9,105)|(835)|$60,283
As of December 31, 2019, we had no investments in a loss position for a period of time greater than 12 months. As of December 31, 2018, we identified 15 investments totaling $207.2 million that had been in a loss position for a period of time greater than 12 months with unrealized losses of $1.8 million. The unrealized losses were primarily due to increases in interest rates relative to rates at the time of purchase. Based on the underlying credit quality of the investments, we generally hold such securities until we recover our cost basis. Therefore, we did not consider these securities to be other-than-temporarily impaired.
|||Foreign debt .|Foreign government obligations|U.S. debt|Time deposits|Total .
|Amortized|Cost|$387,775|21,991|65,970|335,541|$811,277
As of December 31, 2019|Unrealized|Gains|$551|20|176|—|$747
|Unrealized|Losses|$506|—|12|—|$518
|Fair|Value|$387,820|22,011|66,134|335,541|$811,506
|Accounts and other receivable, net|Inventories|Property and equipment|Goodwill|Intangible assets|Deferred income tax assets|Other assets|Total assets acquired|Accounts payable|Deferred income tax liabilities|Other liabilities|Total liabilities assumed|Total fair value of net assets acquired
Trek|$ 2,818|3,941|594|—|788|606|854|9,601|747|—|2,782|3,529|$ 6,072
Electrostatic Product Line|$  77|292|50|1,220|1,400|—|—|3,039|39|—|—|39|$  3,000
LumaSense|$  7,167|9,372|1,353|36,258|43,240|6,331|6,004|109,725|5,734|11,699|7,608|25,041|$  84,684
Total|$ 10,062|13,605|1,997|37,478|45,428|6,937|6,858|122,365|6,520|11,699|10,390|28,609|$ 93,756
The Company awards stock and restricted stock to certain employees, officers, directors, and/or service providers. The restricted stock vests in accordance with such conditions and restrictions determined by the GNC Committee. These conditions and restrictions may include the achievement of certain performance goals and/or continued employment with the Company through a specified restricted period. The purchase price (if any) of shares of restricted stock is determined by the GNC Committee. If the performance goals and other restrictions are not attained, the grantee will automatically forfeit their unvested awards of restricted stock to the Company. Compensation expense for restricted stock is based on fair market value at the grant date.
|Nonvested as of December 31, 2017|Granted|Vested|Forfeitures|Nonvested as of December 31, 2018|Granted|Vested|Forfeitures|Nonvested as of December 31, 2019
Number of Restricted Stock|126,808|144,447|118,347|-|152,908|113,012|64,535|-|201,385
Weighted Average Grant Date Fair Value|4.25|3.59|3.81|-|3.96|3.98|3.88|-|4.00
Weighted Average Remaining Contractual Term (Years)|1.31||||1.56||||1.95
Fiscal Quarter|2019|First Quarter|Second Quarter|Third Quarter|Fourth Quarter|2018|First Quarter|Second Quarter|Third Quarter|Fourth Quarter
High Sale||$8.95|11.38|13.38|13.52||$10.76|10.00|9.94|10.59
Low Sale||$7.30|7.80|9.60|10.80||$ 7.91|7.53|8.66|8.55
(1) Loss for the year ended December 31, 2019 included $1,004 million in impairment charges associated with our Connect reporting unit, a non-cash expense of $170 for the settlement of certain pension plans and $80 million in restructuring charges. See Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Goodwill and Indefinite-Lived Intangible Asset”. See Note 11 “Pensions and Other Post-Retirement Benefits” for further discussion on the pension settlement charge.
(IN MILLIONS, EXCEPT PER SHARE AMOUNTS)||Statement of Operations Data:|Revenues|Depreciation and amortization(6)|Operating income/(loss)|Interest expense|Income/(loss) from continuing operations|Income/(loss) from continuing operations per common share (basic)|Income/(loss) from continuing operations per common share (diluted)|Cash dividends declared per common share||(IN MILLIONS)|Balance Sheet Data:|Total assets|Long-term debt including finance leases
Year Ended December 31,|2019(1)||$6,498|756|(93)|397|(403)|(1.17)|(1.17)|1.11|December 31,|2019||$14,319|8,309
|2018(2)||$6,515|675|(475)|394|(700)|(2.00)|(2.00)|1.39||2018||$15,179|8,387
|2017(3)||$6,572|640|1,214|374|440|1.20|1.20|1.33||2017||$16,866|8,441
|2016(4)||$6,309|603|1,130|333|507|1.40|1.39|1.21||2016||$15,730|7,926
|2015(5)||$6,172|574|1,098|311|575|1.55|1.54|1.09||2015||$15,303|7,338
|Income Statement Data |Net sales|Gross profit|Gross margin percentage|Operating income (2) (3) (4)|Operating margin percentage (2) (3) (4)|Net income (1) (2) (3) (4)|Earnings per share (diluted) (1) (2) (3) (4)|Cash Flow Statement Data|Cash flows provided by operations|Capital equipment additions|Balance Sheet Data|Total assets|Total debt obligations|Shareholders’ equity|Return on invested capital (5)|Inventory turnover ratio
|September 28,
2019|$3,164,434|291,838|9.2%|142,055|4.5%|108,616|$3.50||$115,300|90,600||$2,000,883|287,980|865,576|13.1%|3.8x 
|September 29,
2018|$2,873,508|257,600|9.0%|118,283|4.1%|13,040|$0.38||$66,831|62,780||$1,932,642|188,617|921,143|16.1%|3.6x 
Fiscal Years Ended|September 30,
2017|$2,528,052|255,855|10.1%|129,908|5.1%|112,062|$3.24||$171,734|38,538||$1,976,182|313,107|1,025,939|16.2%|3.7x 
|October 1,
2016|$2,556,004|227,359|8.9%|99,439|3.9%|76,427|$2.24||$127,738|31,123||$1,765,819|262,509|916,797|13.8%|4.2x 
|October 3,
2015(6)|$2,654,290|239,550|9.0%|115,436|4.3%|94,332|$2.74||$76,572|35,076||$1,691,760|261,806|842,272|14.0%|4.3x
2 Pursuant to the requirements for hedge accounting under IFRS 9, Financial instruments, as at December 31, 2019 and December 31, 2018, RCI accounted for 100% of its debt derivatives related to senior notes as hedges against designated US dollar-denominated debt. As a result, as at December 31, 2019 and 2018, 100% of our US dollar-denominated senior notes and debentures are hedged for accounting and economic purposes.
|(In millions of dollars, except exchange rates, percentages, and years)|US dollar-denominated long-term debt 1|Hedged with debt derivatives|Hedged exchange rate|Percent hedged2|Amount of borrowings at fixed rates 3|Total borrowings|Total borrowings at fixed rates|Percent of borrowings at fixed rates|Weighted average interest rate on borrowings|Weighted average term to maturity
As at December 31|2019|US$ 8,300|US$ 8,300|1.1932|100.0%||$ 17,496|$ 15,254|87.2%|4.30%|14.1 years
|2018|US$ 6,050|US$ 6,050|1.1438|100.0%||$ 15,320|$ 13,070|85.3%|4.45%|10.7 years
For the years ended December 31, 2019 and December 31, 2018, the Company had a net loss available to common shareholders and, as a result, all common stock equivalents were excluded from the computation of diluted EPS as their inclusion would have been anti-dilutive.  For the year ended December 31, 2017, awards under the Company’s stock-based compensation plans for common shares of 0.2 million, were excluded from the computation of diluted EPS as their inclusion would have been anti-dilutive.  For all periods presented, preferred stock convertible into 0.9 million common shares was excluded as it was anti-dilutive.
Year Ended December 31,|(in millions, except per share amounts)|Numerator:|Net (loss) income|Preferred stock dividends|Net (loss) income applicable to common shareowners - basic and diluted|Denominator:|Weighted-average common shares outstanding - basic|Stock-based compensation arrangements|Weighted-average common shares outstanding - diluted|Basic and diluted net (loss) earnings per common share
|2019||$(66.6)|10.4|$(77.0)||50.4|—|50.4|($1.53)
|2018||$(69.8)|10.4|$(80.2)||46.3|—|46.3|($1.73)
|2017||$40.0|10.4|$29.6||42.2|0.2|42.4|$0.70
On December 1, 2014, the Company announced the "Capital Allocation Policy" under which the Company intends to return to stockholders approximately 80 percent of free cash flow, less repayments of long-term debt, subject to a variety of factors, including the strategic plans, market and economic conditions and the discretion of the Company’s board of directors. For the purposes of the Capital Allocation Policy, the Company defines "free cash flow" as net cash provided by operating activities less purchases of property, plant and equipment.
||Number of repurchased shares (1)|Aggregate purchase price|Fees, commissions and other expenses|Total cash used for share repurchases|Weighted-average purchase price per share|Available for future purchases at period end
|2019|7.8|$138.9|0.1|$139.0|$17.89|$1,361.1
Year ended December 31,|2018|16.8|$315.0|0.3|$315.3|$18.78|$1,500.0
|2017|1.6|$25.0|—|$25.0|$15.35|$603.2
At December 31, 2019, total unrecognized share-based compensation expense, net of estimated forfeitures, related to non-vested RSUs with service, performance and market conditions was $74.9 million, which is expected to be recognized over a weighted-average period of 1.3 years. The total intrinsic value of stock options exercised during the year ended December 31, 2019 was $3.9 million.
||Cost of revenue|Research and development|Selling and marketing|General and administrative|Share-based compensation expense|Related income tax benefits at federal rate (1)|Share-based compensation expense, net of taxes
|2019|$10.6|17.0|14.8|37.0|79.4|(16.7)|$62.7
Year Ended December 31,|2018|$7.0|14.3|14.1|42.9|78.3|(16.4)|$61.9
|2017|$6.0|12.5|11.7|39.6|69.8|(24.4)|$45.4
||Stock options and assumed options|Restricted stock units|Restricted stock awards|Employee stock purchase plan|Total stock-based compensation expense|Tax benefit from stock-based awards
|2019|$3,783|16,627|—|193|$20,603|$5,154
Year Ended December 31,|2018|$3,511|9,770|1|147|$13,429|$7,581
|2017|$3,913|3,366|19|115|$7,413|$12,719
The decrease in our effective tax rate for fiscal year 2019 compared to fiscal year 2018 was primarily due to the net charge related to the enactment of the TCJA in the second quarter of fiscal year 2018, and a $2.6 billion net income tax benefit in the fourth quarter of fiscal year 2019 related to intangible property transfers. The increase in our effective tax rate for fiscal year 2018 compared to fiscal year 2017 was primarily due to the net charge related to the enactment of the TCJA and the realization of tax benefits attributable to previous Phone business losses in fiscal year 2017.
The decrease from the federal statutory rate in fiscal year 2019 is primarily due to a $2.6 billion net income tax benefit related to intangible property transfers, and earnings taxed at lower rates in foreign jurisdictions resulting from producing and distributing our products and services through our foreign regional operations centers in Ireland, Singapore, and Puerto Rico. The increase from the federal statutory rate in fiscal year 2018 is primarily due to the net charge related to the enactment of the TCJA in the second quarter of fiscal year 2018, offset in part by earnings taxed at lower rates in foreign jurisdictions. The decrease from the federal statutory rate in fiscal year 2017 is primarily due to earnings taxed at lower rates in foreign jurisdictions. Our foreign regional operating centers in Ireland, Singapore and Puerto Rico, which are taxed at rates lower than the U.S. rate, generated 82%, 87%, and 76% of our foreign income before tax in fiscal years 2019, 2018, and 2017, respectively. Other reconciling items, net consists primarily of tax credits, GILTI, and U.S. state income taxes. In fiscal years 2019, 2018, and 2017, there were no individually significant other reconciling items.