DEXTER-CQA/TAT-QA-corpus huggingface dataset:
||Cost:|1 April|Capital contributions arising from share-based payments|Contributions received in relation to share-based payments|31 March|Amounts provided for:|1 April|Impairment losses|31 March|Net book value:|31 March
2019|€m||91,905|137|(92)|91,950||8,177|–|8,177||83,773
2018|€m||91,902|130|(127)|91,905||7,911|266|8,177||83,728
We provide for taxes on the undistributed earnings of foreign subsidiaries. We do not provide for taxes on other outside basis temporary differences of foreign subsidiaries as they are considered indefinitely reinvested outside the U.S. At May 31, 2019, the amount of temporary differences related to other outside basis temporary differences of investments in foreign subsidiaries upon which U.S. income taxes have not been provided was approximately $7.9 billion. If the other outside basis differences were recognized in a taxable transaction, they would generate foreign tax credits that would reduce the federal tax liability associated with the foreign dividend or the otherwise taxable transaction. At May 31, 2019, assuming a full utilization of the foreign tax credits, the potential net deferred tax liability associated with these other outside basis temporary differences would be approximately $1.5 billion.
The valuation allowance was $1.3 billion at each of May 31, 2019 and 2018. Substantially all of the valuation allowances as of May 31, 2019 and 2018 related to tax assets established in purchase accounting and other tax credits. Any subsequent reduction of that portion of the valuation allowance and the recognition of the associated tax benefits associated with our acquisitions will be recorded to our provision for income taxes subsequent to our final determination of the valuation allowance or the conclusion of the measurement period (as defined above), whichever comes first.
|(in millions)|Deferred tax assets:|Accruals and allowances|Employee compensation and benefits|Differences in timing of revenue recognition|Basis of property, plant and equipment and intangible assets|Tax credit and net operating loss carryforwards|Total deferred tax assets|Valuation allowance|Total deferred tax assets, net|Deferred tax liabilities:|Unrealized gain on stock|Acquired intangible assets|GILTI deferred|Basis of property, plant and equipment and intangible assets|Other|Total deferred tax liabilities|Net deferred tax assets|recorded as:|Non-current deferred tax assets|Non-current deferred tax liabilities (in other non-current liabilities)|Net deferred tax assets
|2019||$541|646|322|1,238|3,717|6,464|(1,266)|5,198||(78)|(973)|(1,515)|—|(200)|(2,766)|$2,432||$2,696|(264)|$2,432
May 31,|2018||$567|664|338|—|2,614|4,183|(1,308)|2,875||(78)|(1,254)|—|(158)|(48)|(1,538)|$1,337||$1,395|(58)|$1,337
During the year ended July 31, 2019, the Company’s unrecognized tax benefits increased by $1.3 million, primarily associated with the Company’s U.S. Federal and California R&D credits. As of July 31, 2019, the Company had unrecognized tax benefits of $6.2 million that, if recognized, would affect the Company’s effective tax rate. An estimate of the range of possible change within the next 12 months cannot be made at this time.
||Unrecognized tax benefit - beginning of period|Gross increases - prior period tax positions|Gross decreases - prior period tax positions|Gross increases - current period tax positions|Unrecognized tax benefit - end of period
|2019|$10,321|98|(88)|1,302|$11,633
Fiscal years ended July 31,|2018|$9,346|729|(878)|1,124|$10,321
|2017|$7,687|712|(691)|1,638|$9,346
On 24 June 2019, the Group reset the interest rates associated with AUD denominated interest rate swaps designated as cash flow hedges. This resulted in a cash outflow of $22.9m which reduced the Group’s financial liability as presented in note 9.8. In accordance with AASB 9 Financial instruments, as the nature of the underlying hedged instrument is unchanged the fair value of this outflow remains in the cash flow hedge reserve and will be amortised to the statement of profit or loss in future periods.
NSPT Group|||Foreign currency translation reserve|Opening balance at 1 July|Net investment hedge|Foreign exchange translation differences|Closing balance at 30 June|Cash flow hedge reserve|Opening balance at 1 July|Revaluation of derivatives|Taxation impact on revaluation|Closing balance at 30 June|Other reserves
|2019|$'000||(115)|(1,591)|2,464|758||(2,073)|(22,098)|290|(23,881)|(23,123)
|2018|$'000||232|1,007|(1,354)|(115)||(45)|(2,112)|84|(2,073)|(2,188)
As noted above, it was determined under a quantitative assessment that there was no impairment of goodwill. However, if we become aware of indicators of impairment in future periods, we may be required to perform an interim assessment for some or all of our reporting units before the next annual assessment. Examples of such indicators may include a decrease in expected net earnings, adverse equity market conditions, a decline in current market multiples, a decline in our common stock price, a significant adverse change in legal factors or business climates, an adverse action or assessment by a regulator, unanticipated competition, strategic decisions made in response to economic or competitive conditions, or a more likely than not expectation that a reporting unit or a significant portion of a reporting unit will be sold or disposed of. In the event of significant adverse changes of the nature described above, we may have to recognize a non-cash impairment of goodwill, which could have a material adverse effect on our consolidated financial condition and results of operations.
(In millions)|Gross Carrying Value at December 31, 2017|Accumulated impairment|Carrying Value at December 31, 2017|Acquisition, purchase price and other adjustments|Currency translation|Gross Carrying Value at December 31, 2018|Accumulated impairment|Carrying Value at December 31, 2018|Acquisition, purchase price and other adjustments|Currency translation|Gross Carrying Value at December 31, 2019|Accumulated impairment|Carrying Value at December 31, 2019
Food Care|$ 576.5|(49.6 )|$ 526.9|(0.6 )|(6.6 )|$ 568.9|(49.2 )|$ 519.7|6.3|2.0|$ 577.2|(49.3 )|$ 527.9
Product Care|$ 1,554.1|(141.2)|$ 1,412.9|18.2|(3.2)|$ 1,568.9|(141.0)|$ 1,427.9|257.0|4.1|$ 1,830.0|(141.0)|$ 1,689.0
Total|$ 2,130.6|(190.8)|$ 1,939.8|17.6|(9.8)|$ 2,137.8|(190.2)|$ 1,947.6|263.3|6.1|$ 2,407.2|(190.3)|$ 2,216.9
USDm|Tangible and intangible fixed assets|Investments in joint ventures|Bunkers|Accounts receivables ¹⁾|Assets held-for-sale|Deferred tax liability|Trade payables ²⁾|Current tax liabilities|Deferred income|Invested capital
2019|1,782.2|1.2|34.8|99.5|9.1|-44.9|-94.4|-1.5|-|1,786.0
2018|1,445.0|0.1|39.4|96.3|6.2|-44.9|-71.6|-1.0|-0.1|1,469.4
2017|1,384.8|0.3|33.2|87.5|6.6|-44.9|-60.0|-1.4|-0.1|1,406.0
|Accounts receivable|Prepaids and other current assets|Notes receivable and other non-current assets|Unearned revenue (2)|Other non-current liabilities (3)
December 31, 2019|$80.5|8.3|21.3|35.0|79.0
December 31, 2018 (1)|$92.6|7.7|22.2|35.0|54.1
|Named Officer|Current Executives:|Jeffrey K. Storey|Indraneel Dev|Stacey W. Goff|Scott A. Trezise|Shaun C. Andrews
2019 STI Bonus Amounts|Target Bonus Opportunity (1)||$3,600,022|780,000|720,021|439,654|461,442
|X||||||
|Company Performance % (2)||97%|97%|97%|97%|97%
|X||||||
|Discretionary Adjustment for Individual Performance(3)||100%|110%|100%|110%|110%
|=||||||
|STI Bonus Amount||$3,492,021|832,260|698,420|469,111|492,359
Net cash provided by operating activities decreased $15.8 million to $102.0 million for fiscal 2019, compared to $117.8 million for fiscal 2018. The decrease was due to lower cash generated from changes in operating assets and liabilities, partially offset by higher net income adjusted for non-cash items. The $42.2 million of cash outflows for operating assets and liabilities was primarily due to higher prepaid expenses and other assets and lower accounts payable and accrued expenses.
Net cash provided by operating activities decreased $27.4 million to $117.8 million in fiscal 2018, compared to $145.2 million in fiscal 2017. The decrease was primarily due to lower net income adjusted for non-cash items, partially offset by cash generated from changes in operating assets and liabilities. The $43.6 million of cash inflows for operating assets and liabilities was due to higher accounts payable and accrued expenses and lower prepaid expenses and other assets, offset by higher inventory levels.
||(Dollars in Millions)|Operating activities:|Net Income|Non-cash Items|Changes in Operating Assets and Liabilities|Net Cash Provided by Operating Activities|Net Cash Used in Investing Activities|Net Cash Provided by (Used In) Financing Activities|Effect of Exchange Rate Changes on Cash and Cash Equivalents|Net Increase (Decrease) in Cash and Cash Equivalents|Cash and Cash Equivalents at Beginning of the Year|Cash and Cash Equivalents at End of the Year
|April 27,|2019||$91.6|52.6|(42.2)|102.0|(470.8)|217.4|(11.5)|(162.9)|246.1|$83.2
Fiscal Year Ended|April 28,|2018||$57.2|17.0|43.6|117.8|(179.0)|(12.7)|26.0|(47.9)|294.0|$246.1
|April 29,|2017||$92.9|32.1|20.2|145.2|(21.7)|(47.0)|(10.3)|66.2|227.8|$294.0
|||Net sales|Cost of sales|Gross margin|Selling, general, and administrative expenses|Research, development, and engineering expenses|Restructuring and other charges (credits), net|Operating income (loss)|Non-operating income, net|Pre-tax income (loss) from discontinued operations|Pre-tax gain (loss) on sale of discontinued operations|Income tax (expense) benefit|Income (loss) from discontinued operations, net of income taxes
|2019||$  41|50|(9)|11|3|3|(26)|—|(26)|(86)|10|$  (102)
Fiscal|2018|(in millions)|$  702|602|100|48|39|30 (1)|(17)|—|(17)|(2)|—|$  (19)
|2017||$  928|653|275|50|40|(3)|188|22 (2)|210|3|(70)|$  143
|Outstanding as of December 31, 2018|Granted|Exercised|Canceled|Outstanding as of December 31, 2019|Vested and exercisable as of December 31, 2019
Number of Shares (thousands)|4,674|—|(842)|(130)|3,702|3,427
Weighted-Average Exercise Price|$5.19|$ —|$2.84|$9.41|$5.57|$5.49
Weighted-Average Remaining Contractual Term (years)|||||3.52|3.56
Aggregate Intrinsic Value(1) (thousands)|||||$6,395|$6,210
||2021 Notes|2022 Notes|2026 Notes|2027 Notes|2047 Notes|Total long-term debt|||2021 Notes|2022 Notes|2026 Notes|2027 Notes|2047 Notes|Total long-term debt
|Gross Carrying Amount|$650|400|850|400|400|$2,700||Gross Carrying Amount|650|400|850|400|400|$2,700
At December 31, 2019|Unamortized Discount and Deferred Financing Costs|$(2)|(2)|(7)|(5)|(9)|$(25)|At December 31, 2018|Unamortized Discount and Deferred Financing Costs|(3)|(3)|(8)|(5)|(10)|$(29)
|Net Carrying Amount|$648|398|843|395|391|$2,675||Net Carrying Amount|647|397|842|395|390|$2,671
BCE’s adjusted EBITDA grew by 6.0% in 2019, compared to 2018, attributable to growth from all three of our segments. Higher revenues coupled with reduced operating expenses drove the year-over-year growth in adjusted EBITDA. This corresponded to an adjusted EBITDA margin of 42.2% in 2019, up 1.6 pts over last year, mainly driven by the favourable impact from the adoption of IFRS 16 in 2019, and greater service revenue flow-through, moderated by greater low-margin product sales in our total revenue base.
Goodwill, trademarks and tradenames are considered to have indefinite useful lives and therefore no amortization has been taken on these assets. The Company’s retail reporting unit recorded intangible asset (trademarks and tradenames) impairment charges of approximately $2.9 million during fiscal 2019 and goodwill impairment charges of approximately $1.9 million during fiscal 2018 when it was determined that the carrying values of these assets exceeded their fair values. These impairment charges arose from a range of considerations including, but not limited to, heightened competition in the industry, retail sector market conditions, and earning shortfalls which impacted the Company’s projections of future cash flows to be generated. These impairment charges were recorded in the Company’s consolidated statement of operations as a component of operating income.
||Net sales (1)|Cost of sales (1)|Gross Margin (GAAP) (1)|Gross margin as a % of net sales|Non-GAAP adjustments:|Plant start-up costs (2)|Stock-based compensation expense|Adjusted gross margin (non-GAAP) (1)|Adjusted gross margin as a % of net sales
|2019|$1,382,818|924,276|458,542|33.2%||(927)|2,756|$460,371|33.3%
Fiscal Years Ended March 31,|2018|$1,200,181|860,744|339,437|28.3%||929|1,519|$341,885|28.5%
|2017|$757,338|571,944|185,394|24.5%||427|1,384|$187,205|24.7%
|||Within one year|Between 2 and 5 years|After 5 years|Total
As at 30 Mar 2019|Property|£m|1.8|6.3|6.0|14.1
|Plant and Equipment|£m|1.3|2.4|0.5|4.2
As at 31 Mar 2018|Property|£m|2.5|5.3|9.4|17.2
|Plant and Equipment|£m|1.8|1.9|–|3.7
The following tables summarize information for operating income (loss), depreciation and amortization, restructuring charges, gain (loss) on write down and disposal of long-lived assets, and capital expenditures by reportable segment for the fiscal years ended 2019, 2018 and 2017 and total assets by reportable segment for the fiscal years ended 2019 and 2018 (amounts in thousands): The following tables summarize information for operating income (loss), depreciation and amortization, restructuring charges, gain (loss) on write down and disposal of long-lived assets, and capital expenditures by reportable segment for the fiscal years ended 2019, 2018 and 2017 and total assets by reportable segment for the fiscal years ended 2019 and 2018 (amounts in thousands):
(In thousands)|Total revenues|Income from operations|Net income before taxes|Net income|Current assets|Non-current assets|Current liabilities|Non-current liabilities|Partnership equity
2019|$ 349,640|100,182|99,146|99,146|$ 80,655|156,672|33,292|92,477|111,558
2018|$ 346,251|100,571|99,408|99,408|$ 75,040|103,996|24,719|51,840|102,478
2017|$ 350,611|104,973|103,497|103,497|$ 78,782|95,959|22,472|51,463|100,806
||Balance sheet and other data:|Cash and cash equivalents|Working capital|Total assets|Total long-term obligations|Total stockholders' equity
|2019||$119,629|167,879|557,799|115,143|355,651
|2018||$146,061|152,793|440,985|88,126|277,589
As of December 31,|2017||$96,329|119,433|371,641|94,311|232,827
|2016||$140,634|150,485|261,245|30,297|191,249
|2015||$128,358|131,971|226,095|26,885|170,131
The selected consolidated statements of operations data for the years ended December 31, 2019, 2018 and 2017 and the selected consolidated balance sheet data as of December 31, 2019 and 2018 are derived from our audited consolidated financial statements included elsewhere in this Annual Report. The selected consolidated statements of operations data for the years ended December 31, 2016 and 2015 and the selected consolidated balance sheet data as of December 31, 2017, 2016 and 2015 are derived from our audited consolidated financial statements not included in this Annual Report. Our historical results are not necessarily indicative of the results to be expected in the future. The selected financial data should be read together with Item 7. "Management’s Discussion and Analysis of Financial Condition and Results of Operations" and in conjunction with our consolidated financial statements, related notes, and other financial information included elsewhere in this Annual Report. The following tables set forth our selected consolidated financial and other data for the years ended and as of December 31, 2019, 2018, 2017, 2016 and 2015 (in thousands, except share and per share data).
||Tax at statutory rate|U.S. state taxes, net of federal|Foreign rate differential  |Meals and entertainment  |Branch income / loss  |Share-based compensation|Foreign exchange  |Non-deductible interest expense  |Tax credits|Unremitted earnings  |Change in valuation allowance  |Deferred tax true-ups  |Tax reserves  |Provision to return  |Withholding taxes  |Other foreign taxes  |Non-deductible expenses  |Deferred tax rate change  |Acquisition related costs  |Other  |Effective Tax Rate  
|2019|19.0%|31.1|26.3|(11.4)|(0.6)|172.3|—|—|7.7|(3.8)|(249.9)|(3.5)|(4.9)|(0.1)|(2.6)|—|(5.2)|(6.3)|(7.6)|(0.5)|(40.0)%
Year ended March 31, |2018|19.0%|14.1|36.8|(3.1)|0.4|105.3|—|—|8.1|(1.2)|(110.7)|8.4|(21.5)|0.4|(3.5)|—|(2.4)|(77.8)|—|(0.2)|(27.9)%
|2017|20.0%|(1.0)|(39.3)|(7.4)|0.9|(4.0)|(24.8)|(3.3)|15.6|—|124.7|(12.4)|(117.7)|(0.7)|—|(6.7)|(10.6)|(1.3)|—|—|(68.0)%
(1) Short-term borrowings of $98.9 million at December 31, 2019 were comprised of $89.0 million under our revolving credit facility and $9.9 million of short-term borrowings from various lines of credit. Short-term borrowings of $232.8 million at December 31, 2018 were comprised of $140.0 million under our revolving credit facility, $83.9 million under our European securitization program and $8.9 million of short-term borrowings from various lines of credit.
|(In millions)|Short-term borrowings (1)|Current portion of long-term debt(2)|Total current debt|Term Loan A due July 2022|Term Loan A due July 2023|6.50% Senior Notes due December 2020|4.875% Senior Notes due December 2022|5.25% Senior Notes due April 2023|4.50% Senior Notes due September 2023|5.125% Senior Notes due December 2024|5.50% Senior Notes due September 2025|4.00% Senior Notes due December 2027|6.875% Senior Notes due July 2033|Other(2)|Total long-term debt, less current portion(3)|Total debt(4)
December 31,|2019|$ 98.9|16.7|115.6|474.6|218.2|—|421.9|422.0|445.6|421.9|397.4|420.4|445.7|30.9|3,698.6|$ 3,814.2
|2018|$ 232.8|4.9|237.7|—|222.2|424.0|421.1|421.2|454.9|421.3|397.1|—|445.5|29.2|3,236.5|$ 3,474.2
||(Dollars in millions)|Hardware Revenues:|Americas|EMEA|Asia Pacific|Total revenues|Expenses:|Hardware products and support (1)|Sales and marketing (1)|Total expenses (1)|Total Margin|Total Margin %|% Revenues by Geography:|Americas|EMEA|Asia Pacific
||2019||$1,889|1,082|733|3,704||1,327|520|1,847|$1,857|50%||51%|29%|20%
||Actual||-6%|-10%|-7%|-7%||-14%|-19%|-16%|3%|||||
Year Ended May 31,|Percent Change|Constant||-4%|-5%|-4%|-5%||-11%|-16%|-13%|6%|||||
||2018||$2,003|1,201|790|3,994||1,547|643|2,190|$1,804|45%||50%|30%|20%
Our hardware business’ revenues are generated from the sales of our Oracle Engineered Systems, server, storage, and industry-specific hardware products. Each hardware product and its related software, such as an operating system or firmware, are highly interdependent and interrelated and are accounted for as a combined performance obligation. The revenues for this combined performance obligation are generally recognized at the point in time that the hardware product and its related software are delivered to the customer and ownership is transferred to the customer. Our hardware business also earns revenues from the sale of hardware support contracts purchased and renewed by our customers at their option and are generally recognized as revenues ratably as the hardware support services are delivered over the contractual term, which is generally one year. The majority of our hardware products are sold through indirect channels such as independent distributors and value-added resellers, and we also market and sell our hardware products through our direct sales force. Operating expenses associated with our hardware business include the cost of hardware products, which consists of expenses for materials and labor used to produce these products by our internal manufacturing operations or by third-party manufacturers, warranty expenses and the impact of periodic changes in inventory valuation, including the impact of inventory determined to be excess and obsolete; the cost of materials used to repair customer products; the cost of labor and infrastructure to provide support services; and sales and marketing expenses, which are largely personnel related and include variable compensation earned by our sales force for the sales of our hardware offerings.
In 2019 and 2018 we had pre-tax losses of $19,573 and $25,403, respectively, which are available for carry forward to offset future taxable income. We made determinations to provide full valuation allowances for our net deferred tax assets at the end of 2019 and 2018, including NOL carryforwards generated during the years, based on our evaluation of positive and negative evidence, including our history of operating losses and the uncertainty of generating future taxable income that would enable us to realize our deferred tax.
||United States federal statutory rate|State taxes, net of federal benefit|Valuation allowance|Cumulative effect of accounting change|R&D Credit|Other|Effective income tax rate
Year Ended|December 31, 2018|21.00%|1.99%|(21.96)%|—|1.34%|(0.38)%|1.99%
Year Ended|December 31, 2019|21.00%|(0.01)%|(24.33)%|2.07%|1.53%|(0.27)%|(0.01)%
|||Operating assets|– Mainland China|– Others|Investments|– Mainland China and Hong Kong|– North America|– Europe|– Asia excluding Mainland China and Hong Kong|– Others|
As at 31 December|2019|RMB’Million||345,721|168,714||289,491|76,488|29,707|40,139|3,726|953,986
|2018|RMB’Million||270,373|83,962||254,992|44,835|37,451|30,148|1,760|723,521
||Sales of goods and services|Current|Noncurrent|Total
As of January 1,2018|NT$(In Thousands)|$3,951,414|$3,951,414|—|$3,951,414
As of December 31,2018|NT$(In Thousands)|$932,371|$932,371|—|$932,371
As of December 31,2019|NT$(In Thousands)|$1,470,195|$988,115|482,080|$1,470,195
(2) Purchase obligations represent agreements to purchase goods or services, including open purchase orders and contracts with fixed volume commitments, that are noncancelable or cancelable with a significant penalty. Purchase obligations for our long-term supply agreements for the purchase of substrate glass and cover glass represent specified termination penalties, which are up to $430 million in the aggregate under the agreements. Our actual purchases under these supply agreements are expected to be approximately $2.4 billion of substrate glass and $500 million of cover glass.
|||Long-term debt obligations|Interest payments (1) .|Operating lease obligations|Purchase obligations (2) .|Recycling obligations .|Contingent consideration (3) .|Transition tax obligations (4) .|Other obligations (5) .|Total .
||Total|$482,892|168,040|162,913|1,424,267|137,761|6,895|76,667|10,527|$2,469,962
|Less Than|1 Year|$17,684|17,276|15,153|900,200|—|2,395|6,620|2,933|$962,261
Payments Due by Year|1 - 3|Years|$98,571|29,533|28,771|221,888|—|4,500|14,747|5,164|$403,174
|3 - 5|Years|$37,496|27,409|26,708|187,277|—|—|32,259|2,430|$313,579
|More Than|5 Years|$329,141|93,822|92,281|114,902|137,761|—|23,041|—|$790,948
During 2019, TCE revenues increased by $8,426, or 2.6%, to $335,133 from $326,707 in 2018. The increase primarily resulted from an increase in average daily rates earned by our fleet and decreased spot market exposure. The total number of revenue days decreased from 7,678 days in 2018 to 7,215 days in 2019. The decrease primarily resulted from three fewer vessels in operation during most of 2019 compared to 2018.
Vessel expenses remained stable at $134,618 in 2019 from $134,956 in 2018. Depreciation expense increased by $1,987 to $52,499 in 2019 from $50,512 in 2018. The increase was due to an increase in amortization of drydock costs and an increase in depreciation expense due to the Overseas Gulf Coast and Overseas Sun Coast, our two new vessels, which entered service at the beginning of the fourth quarter of 2019.
||Jones Act Handysize Product Carriers:    |Average rate|Revenue days|Non-Jones Act Handysize Product Carriers:    |Average rate|Revenue days|ATBs:    |Average rate|Revenue days|Lightering:    |Average rate|Revenue days
2019|Spot Earnings||$25,036|523||$30,671|482||$19,117|255||$63,162|713
|Fixed Earnings||$57,910|4,052||$13,912|417||$21,861|773||$—|—
2018|Spot Earnings||$31,254|1,142||$25,925|707||$15,333|990||$66,041|697
|Fixed Earnings||$60,252|3,141||$12,097|3||$22,207|998||$—|—