DEXTER-CQA/TAT-QA-corpus huggingface dataset:
Deferred taxes are recorded for temporary differences between the carrying amounts of assets and liabilities and their tax bases. The significant components of deferred tax assets and liabilities that are recorded in the consolidated balance sheets are summarized in the table below. A valuation allowance is required when it is more likely than not that all or a portion of a deferred tax asset will not be realized. As of June 30, 2019, the Company had state net operating loss carryforwards of $337.6 million expiring between 2020 and 2039. A significant portion of the state net operating loss carryforwards are subject to an annual limitation that, under current law, is likely to limit future tax benefits to approximately $3.3 million. Valuation allowances increased by $0.7 million during fiscal year 2019 primarily due to increases in net operating losses incurred in certain tax jurisdictions for which no tax benefit was recognized.
FOR THE YEAR ENDED DECEMBER 31|Net assets of post-employment benefit plans|Long-term notes and other receivables|Derivative assets|Publicly-traded and privately-held investments|Investments (1)|Other|Total other non-current assets
NOTE|24||26|26|||
2019|558|142|200|129|128|117|1,274
2018|331|89|68|110|114|135|847
The pro forma financial information for all periods presented includes the business combination accounting effects from the acquisition of PlanGrid including amortization expense from acquired intangible assets, compensation expense, and the interest expense and debt issuance costs related to the term loan agreement. The historical financial information has been adjusted to give effect to pro forma events that are directly attributable to the business combinations and factually supportable. The pro forma financial information is for informational purposes only and is not indicative of the results of operations that would have been achieved if the acquisition had taken place at the beginning of the Company’s fiscal 2018.
The weighted-average grant date fair value of RSUs granted during the years ended December 31, 2019, 2018, and 2017 was $55.69, $46.17, and $37.99, respectively. The total fair value of RSUs vested as of the vesting dates during the years ended December 31, 2019, 2018, and 2017 was $58.4 million, $49.9 million, and $37.2 million, respectively.
|($ in millions)|Cost Data:|Repairs and maintenance costs|Cash Flow Data:|Noncash investing and financing activities:|Noncash purchases of property, plant, equipment and software|Cash paid (received) during the year for:|Interest payments, net|Income tax payments (refunds), net
|2019||$120.4|||$16.1||$27.6|$27.5
Years Ended June 30,|2018||$108.0|||$16.5||$29.5|$33.7
|2017||$99.1|||$13.7||$27.7|$(33.3)
|Weighted average duration of the defined benefit obligation (years)|Maturity analysis of benefit payments (non-discounted amounts) $ million|Maturity ≤ 1 year|Maturity > 1 ≤ 5 years|Maturity > 5 ≤ 10 years|Maturity > 10 ≤ 20 years|Maturity > 20 ≤ 30 years|Maturity > 30 years
2019|14||10.8|45.6|61.7|114.3|81.7|63.0
2018|15||10.4|43.2|119.0|103.0|68.0|42.9
General and administrative expense increased by $8.6 million in 2018 compared to 2017. The increase was primarily due to a $3.7 million increase in employee-related costs, which includes stock-based compensation, associated with our increased headcount from 79 employees as of December 31, 2017 to 89 employees as of December 31, 2018. There was an additional increase of $2.8 million in depreciation and amortization, an increase of $1.5 million to support compliance as a public company, an increase of $0.4 million in software subscription cost and a $0.2 million increase in office related expenses to support the administrative team.
||Revenues|ACI On Premise|ACI On Demand|Total revenue|Segment Adjusted EBITDA|ACI On Premise|ACI On Demand|Depreciation and amortization|Stock-based compensation expense|Corporate and unallocated expenses|Interest, net|Other, net|Income before income taxes|Depreciation and amortization|ACI On Premise|ACI On Demand|Corporate|Total depreciation and amortization|Stock-based compensation expense|ACI On Premise|ACI On Demand|Corporate and other|Total stock-based compensation expense
Years Ended December 31,|2019||$579,334|678,960|$ 1,258,294||$321,305|66,501|(122,569 )|(36,763 )|(104,718 )|(52,066 )|520|$ 72,210||$ 11,992|34,395|76,182|$ 122,569||$ 7,651|7,995|21,117|$ 36,763
|2018||$576,755|433,025|$ 1,009,780||$323,902|12,015|(97,350 )|(20,360 )|(92,296 )|(30,388 )|(3,724 )|$ 91,799||$ 11,634|31,541|54,175|$ 97,350||$ 4,348|4,338|11,674|$ 20,360
|(In thousands, except per share data)|Operating results|Net revenue|Gross profit|Operating loss|Operating loss, net of taxes|Net loss|Per share data (1)|Basic and diluted|Net loss|Weighted-average shares outstanding - basic and diluted|Balance sheet data at year end|Cash and cash equivalents|Working capital|Total assets|Total debt|Total shareholders’ equity
|2019||$140,842|73,880|(13,081)|(13,164)|$(13,164)|||$(0.57)|23,037||$40,771|20,707|163,591|57|100,622
|2018||$127,360|64,417|(12,080)|(8,350)|$(8,350)|||$(0.37)|22,801||$39,943|19,343|157,207|177|108,431
Year ended March 31,|2017||$127,678|63,785|(11,408)|(11,721)|$(11,721)|||$(0.52)|22,615||$49,255|27,183|167,305|237|113,669
|2016||$120,366|68,106|(4,313)|(3,765)|$(3,765)|||$(0.17)|22,483||$60,608|41,401|185,157|333|123,473
|2015||$103,514|60,081|(12,467)|(11,497)|$(11,497)|||$(0.51)|22,338||$75,067|54,407|181,525|189|124,188
||Net revenues|Gross profit|Gross profit margin percentage|Income from operations|Income from operations as a percentage of net revenues|Provision for income taxes|Net income|Diluted net income per share|Operating cash flows
|April 26, 2019|$ 6,146|$ 3,945|64 %|$ 1,221|20%|$ 99|$ 1,169|$ 4.51|$ 1,341
|April 27, 2018|$ 5,919|$ 3,709|63%|$ 1,158|20%|$ 1,083|$ 116|$ 0.42|$ 1,478
Year Ended|April 28, 2017|$ 5,491|$ 3,364|61 %|$ 621|11 %|$ 140|$ 481|$ 1.71|$ 986
||Gross profit|Gross margin|Fiscal 2018||Gross profit|Gross margin|Fiscal 2017||Gross profit|Gross margin
|Probe Cards|$211,382|43.0 %||Probe Cards|$187,320|43.1 %||Probe Cards|$195,903|43.1 %
Fiscal 2019|Systems|$50,927|51.9 %||Systems|$47,074|49.3 %||Systems|$46,647|49.8 %
|Corporate and Other|$(24,813)|— %||Corporate and Other|$(24,055)|— %||Corporate and Other|$(26,953)|— %
|Total|$237,496|40.3 %||Total|$210,339|39.7 %||Total|$215,597|39.3 %
|Revenue|Administrative fee revenue from affiliates|Interest income|Interest expense and finance cost|Depreciation and amortization|Equity in net (losses)/earnings of affiliated companies|Net (loss)/ income attributable to Navios Holdings common|stockholders|Total assets|Goodwill|Capital expenditures|Investment in affiliates|Cash and cash equivalents|Restricted cash|Long-term debt, net (including current and noncurrent portion)
Dry Bulk Vessel Operations for the Year Ended December 31, 2019|$254,178|16,991|9,610|(92,948)|(52,288)|(9,185)||(212,623)|1,511,517|56,240|(36,628)|64,352|32,386|736|$1,048,318
Logistics Business for the Year Ended December 31, 2019|$228,271|—|1,052|(40,531)|(29,435)|—||20,513|631,338|104,096|(7,943)|—|45,605|—|$514,929
Total for the Year Ended December 31, 2019|$482,449|16,991|10,662|(133,479)|(81,723)|(9,185)||(192,110)|2,142,855|160,336|(44,571)|64,352|77,991|736|1,563,247
Revenues from VAS increased by 20% to RMB52,308 million for the fourth quarter of 2019 on a year-on-year basis. Online games revenues grew by 25% to RMB30,286 million. The increase was primarily driven by revenue growth from smart phone games in both domestic and overseas markets, including titles such as Peacekeeper Elite and PUBG Mobile, as well as revenue contributions from Supercell titles, partly offset by lower revenues from PC client games such as DnF. Social networks revenues increased by 13% to RMB22,022 million. The increase mainly reflected greater contributions from digital content services such as live broadcast and music streaming services. Total smart phone games revenues (including smart phone games revenues attributable to our social networks business) were RMB26,035 million and PC client games revenues were RMB10,359 million for the fourth quarter of 2019.
|||||||VAS|FinTech and Business Services|Online Advertising|Others|Total revenues
Unaudited|Three months ended|31 December 2019||Amount||(RMB in millions, unless specified)|52,308|29,920|20,225|3,314|105,767
|||% of total|revenues|||50%|28%|19%|3%|100%
||31 December 2018||Amount|(Restated)||43,651|21,597|17,033|2,615|84,896
|||% of total|revenues|(Restated)||51%|26%|20%|3%|100%
||Product revenues|Strategic|Mature|Software maintenance revenues|Hardware maintenance and other services revenues|Hardware maintenance support contracts|Professional and other services|Net revenues
|April 26, 2019|$ 3,755|2,709|1,046|946|1,445|1,182|263|$ 6,146
Year Ended|April 27, 2018|$  3,525|2,468|1,057|902|1,492|1,214|278|$  5,919
|April 28, 2017|$  3,060|2,000|1,060|905|1,526|1,258|268|$  5,491
To provide visibility into our transition from older products to our newer, higher growth products and clarity into the dynamics of our product revenue, we have historically grouped our products by “Strategic” and “Mature” solutions. Strategic solutions include Clustered ONTAP, branded E-Series, SolidFire, converged and hyper-converged infrastructure, ELAs and other optional add-on software products. Mature solutions include 7-mode ONTAP, add-on hardware and related operating system (OS) software and original equipment manufacturers (OEM) products. Both our Mature and Strategic product lines include a mix of disk, hybrid and all flash storage media. Additionally, we provide a variety of services including software maintenance, hardware maintenance and other services including professional services, global support solutions, and customer education and training.
As of December 31,||Investee companies||Listed companies|CLIENTRON CORP.|FARADAY TECHNOLOGY CORP. (FARADAY) (Note A)|Unlisted companies|MTIC HOLDINGS PTE. LTD.|WINAICO IMMOBILIEN GMBH (Note B)|PURIUMFIL INC.|UNITECH CAPITAL INC.|TRIKNIGHT CAPITAL CORPORATION|HSUN CHIEH INVESTMENT CO., LTD.|YANN YUAN INVESTMENT CO., LTD.|HSUN CHIEH CAPITAL CORP.|VSENSE CO., LTD.|UNITED LED CORPORATION HONG KONG LIMITED|TRANSLINK CAPITAL PARTNERS I, L.P. (Note C)|WINAICO SOLAR PROJEKT 1 GMBH (Note B)|YUNG LI INVESTMENTS, INC.|Total
|2018|Amount|NT$ (In Thousands)||$249,663|1,483,111||3,026|—|—|568,005|1,520,575|1,608,551|2,032,013|161,319|31,544|167,953|120,440|—|2,213|$7,948,413
||Percentage of ownership or voting rights|||22.39|13.78||45.44|44.78|—|42.00|40.00|36.49|30.87|30.00|26.89|25.14|10.38|50.00|45.16|
|2019|Amount|NT$ (In Thousands)||$276,515|1,473,028||18,157|—|7,164|642,660|2,281,631|1,686,502|2,761,821|122,060|592|121,973|172,414|—|—|$9,564,517
||Percentage of ownership or voting rights|||21.90|13.78||45.44|44.78|44.45|42.00|40.00|36.49|30.87|30.00|25.90|25.14|10.38|—|—|
($ in millions)|Results of Operations|Fiscal Year 2019|Net sales|Gross profit|Operating income|Net income|Fiscal Year 2018|Net sales|Gross profit|Operating income|Net income
First Quarter|||$572.4|$91.7|$45.0|$31.5||$479.8|$85.6|$42.2|$23.4
Second Quarter|||$556.5|$107.0|$55.4|$35.5||$487.8|$85.7|$41.4|$92.1
Third Quarter|||$609.9|$123.2|$73.2|$51.1||$572.2|$96.1|$45.7|$30.2
Fourth Quarter|||$641.4|$122.9|$67.9|$48.9||$618.0|$114.9|$60.0|$42.8
Our basic earnings per share calculation is computed based on the weighted-average number of common shares outstanding. Our diluted earnings per share calculation is computed based on the weighted-average number of common shares outstanding adjusted by the number of additional shares that would have been outstanding had the potentially dilutive common shares been issued. Potentially dilutive common shares include nonvested stock awards and units, stock options, and non-management director stock equivalents. Performance share awards are included in the average diluted shares outstanding each period if the performance criteria have been met at the end of the respective periods.
|Weighted-average shares outstanding — basic|Effect of potentially dilutive securities:|Nonvested stock awards and units|Stock options|Performance share awards|Weighted-average shares outstanding — diluted|Excluded from diluted weighted-average shares outstanding:|Antidilutive|Performance conditions not satisfied at the end of the period
2019|25,823||211|10|24|26,068||186|65
2018|28,499||240|40|28|28,807||150|44
2017|30,630||182|59|43|30,914||76|53
USDm|Analysis as of 31 December of freight receivables:|Gross freight receivables:|Not yet due|Due < 30 days|Due between 30 and 180 days|Due > 180 days|Total gross|Allowance for expected credit loss|Total net
2019|||39.8|22.5|25.3|6.0|93.6|3.7|89.9
2018|||44.0|18.8|20.5|4.4|87.7|1.7|86.0
2017|||25.5|26.0|18.4|2.7|72.6|1.3|71.3
Prior to the Company’s IPO, the Company was given authorization by Communications Infrastructure Investments, LLC (“CII”) to award 625,000,000 of CII’s common units as profits interests to employees, directors, and affiliates of the Company. The common units were historically considered to be stock-based compensation with terms that required the awards to be classified as liabilities due to cash settlement features. The vested portion of the awards was reported as a liability and the fair value was re-measured at each reporting date until the date of settlement, with a corresponding charge (or credit) to stock-based compensation expense. On December 31, 2016, the CII common units became fully vested and as such there is no remaining unrecognized compensation cost associated with CII common units for any period subsequent to December 31, 2016.
|||Included in:|Operating costs|Selling, general and administrative expenses|Total stock-based compensation expense|CII common and preferred units $ — $ — $10.1|Part A restricted stock units|Part B restricted stock units|Part C restricted stock units|Total stock-based compensation expense
Year Ended June 30,|2019|(in millions)||$11.3|98.0|$109.3|$ —|93.8|13.0|2.5|$109.3
|2018|||$9.9|86.8|$96.7|$ —|82.3|12.4|2.0|$96.7
|2017|||$11.3|102.8|$114.1|$10.1|76.5|26.0|1.5|$114.1
(1) At the beginning of Q1 2019, we adjusted our wireless subscriber base to remove 167,929 subscribers (72,231 postpaid and 95,698 prepaid) as follows: (A) 65,798 subscribers (19,195 postpaid and 46,603 prepaid), due to the completion of the shutdown of the CDMA network on April 30, 2019, (B) 49,095 prepaid subscribers as a result of a change to our deactivation policy, mainly from 120 days for Bell/Virgin Mobile and 150 days for Lucky Mobile to 90 days, (C) 43,670 postpaid subscribers relating to IoT due to the further refinement of our subscriber definition as a result of technology evolution, and (D) 9,366 postpaid fixed wireless Internet subscribers which were transferred to our retail high-speed Internet subscriber base.
|Wireless subscribers [1][2]|Postpaid [1][2]|Prepaid [1]|Retail high-speed Internet subscribers [1][3]|Retail TV subscribers [3]|IPTV|Satellite|Total growth services subscribers|Wireline retail residential NAS lines [3]|Total services subscribers
2019|9,957,962|9,159,940|798,022|3,555,601|2,772,464|1,767,182|1,005,282|16,286,027|2,697,483|18,983,510
2018|9,610,482|8,830,216|780,266|3,410,374|2,766,411|1,675,706|1,090,705|15,787,267|2,960,808|18,748,075
% CHANGE|3.6%|3.7%|2.3%|4.3%|0.2%|5.5%|(7.8%)|3.2%|(8.9%)|1.3%
|Land, buildings and improvements|Machinery and equipment|Computer hardware and software|Capital assets in progress|Total property, plant and equipment, gross |Less: accumulated depreciation |Total property, plant and equipment, net
2019|$289,051|381,656|136,227|49,599|856,533|(472,309)|384,224
2018|$267,809|364,034|130,645|38,469|800,957|(459,651)|341,306
(2) The carrying amount of the senior unsecured convertible bonds as reported above corresponds to the liability component only. For the convertible bonds issued on July 3, 2017 and outstanding as at December 31, 2017, the carrying amount of the senior unsecured convertible bonds corresponds to the liability component only, since, at initial recognition, an amount of $242 million was recorded directly in shareholders’ equity as the value of the equity instrument embedded in the convertible instrument.
||Cash equivalents (1)|Long-term debt|– Bank loans (including current portion)|– Senior unsecured convertible bonds (2)
2019|Level|1||2|1
2019|Carrying Amount|1,691||718|1,354
2019|Estimated Fair Value|1,691||718|2,103
2018|Carrying Amount|2,138||594|1,316
2018|Estimated Fair Value|2,138||594|1,501
||Life, accident and health earned premiums, net|Net investment income|Net realized and unrealized gains on investments|Net revenue|Policy benefits, changes in reserves, and commissions|Selling, general and administrative|Depreciation and amortization|Other operating expense|Income from operations (1)
|2019|$116.8|212.9|1.9|331.6|234.4|35.7|(23.1)|47.3|$37.3
Years Ended December 31,|2018|$94.4|117.1|5.6|217.1|197.3|30.4|(12.4)|—|$1.8
|Increase / (Decrease)|$22.4|95.8|(3.7)|114.5|37.1|5.3|(10.7)|47.3|$35.5
Net investment income: Net investment income from our Insurance segment for the year ended December 31, 2019 increased $95.8 million to $212.9 million from $117.1 million for the year ended December 31, 2018. The increase was primarily due to the income generated from the assets acquired in the KIC acquisition, higher average invested assets as a result of the reinvestment of premiums and investment income received, and to a lesser extent, rotation into higher-yielding investments.
Net realized and unrealized gains on investments: Net realized and unrealized gains on investments from our Insurance segment for the year ended December 31, 2019 decreased $3.7 million to $1.9 million from $5.6 million for the year ended December 31, 2018. The decrease was driven by smaller realized gains on bonds and common stocks, higher impairments, and losses on fair value changes on interest only bonds in 2019. The decrease was offset by overall improvement in fair value changes in equity securities and realized gains on mortgage loans in 2019.
We periodically assess the estimated useful lives of our property, plant and equipment whenever applicable facts and circumstances indicate a change in the estimated useful life of an asset may have occurred. During the year ended December 31, 2019, we revised the estimated useful lives of certain core Series 6 manufacturing equipment from 10 years to 15 years. Such revision was primarily due to the validation of certain aspects of our Series 6 module technology, including the nature of the manufacturing process, the operating and maintenance cost profile of the manufacturing equipment, and the technology’s compatibility with our long-term module technology roadmap. We expect the revised useful lives to reduce depreciation by approximately $15.0 million per year. Depreciation of property, plant and equipment was $176.4 million, $109.1 million, and $91.4 million for the years ended December 31, 2019, 2018, and 2017, respectively.
|Land|Buildings and improvements .|Machinery and equipment .|Office equipment and furniture .|Leasehold improvements|Construction in progress|Property, plant and equipment, gross|Accumulated depreciation .|Property, plant and equipment, net
2019|$14,241|664,266|2,436,997|159,848|48,772|243,107|3,567,231|(1,386,082)|$2,181,149
2018|$14,382|567,605|1,826,434|178,011|49,055|405,581|3,041,068|(1,284,857)|$1,756,211
||Operating lease obligations|Term loans|Term loans interest (1)|Revolving credit facility|Revolving credit facility interest (2)|Senior notes|Senior notes interest (3)|Financed internal-use software (4)|Total
|Total|$ 70,284|756,060|117,168|239,000|40,528|400,000|149,500|13,822|$1,786,362
|Less than 1 year|$ 17,180|38,950|30,025|—|9,536|—|23,000|5,974|$124,665
Payments Due by Period|1-3 years|$ 23,116|89,381|55,232|—|19,072|—|46,000|7,848|$240,649
|3-5 years|$ 12,738|627,729|31,911|239,000|11,920|—|46,000|—|$969,298
|More than 5 years|$ 17,250|—|—|—|—|400,000|34,500|—|$451,750
Cash and cash equivalents comprise cash in hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of changes in value. Assets in money market funds, whose contractual cash flows do not represent solely payments of interest and principal, are measured at fair value with gains and losses arising from changes in fair value included in net profit or loss for the period. All other cash and cash equivalents are measured at amortised cost.
||Cash at bank and in hand|Repurchase agreements and bank deposits|Money market funds1|Cash and cash equivalents as presented in the statement of financial position|Bank overdrafts|Cash and cash equivalents of discontinued operations|Cash and cash equivalents as presented in the statement of cash flows
2019|€m|2,434|2,196|9,007|13,637|(32)|–|13,605
2018|€m|2,197|–|2,477|4,674|(7)|727|5,394
As of July 31, 2019 and 2018, the Company was authorized to issue 500,000,000 shares of common stock with a par value of $0.0001 per share and, of these, 82,140,883 and 80,611,698 shares of common stock were issued and outstanding, respectively. Per the terms of the Company’s 2011 Stock Plan, on January first of each year, an additional number of shares equal to up to 5% of the number of shares of common stock issued and outstanding on the preceding December 31st is added to the Company’s 2011 Stock Plan reserve.
|Name|Mark J. Barrenechea|Madhu Ranganathan|Muhi Majzoub|Gordon A. Davies|Simon Harrison
Option Awards|Number of Shares Acquired on Exercise (#)|135,208|—|100,000|—|26,504
|Value Realized on Exercise(1) ($)|$2,801,023|$—|$2,592,411|$—|$714,495
Stock Awards (3)|Number of Shares Acquired on Vesting (#)|65,820|—|10,900|12,840|8,980
|Value Realized on Vesting(2) ($)|$7,625,905|$—|$1,263,646|$1,486,870|$346,808
||Trade receivables|Contract liabilities|Payments received on account|Deferred income||Revenue recognised in the period from amounts included in contract liabilities at the beginning of the period
|Notes|20||23|25||
2019|$ million|128.7||2.3|66.8|69.1|56.2
2018|$ million|123.4||1.0|69.6|70.6|65.5
2017|$ million|113.8||3.8|72.7|76.5|62.1
The tax holidays represent a tax exemption period aimed to attract foreign technological investment in certain tax jurisdictions. The effect of the tax benefits, from tax holidays for countries which are profitable, on basic earnings per share was $0.14, $0.15 and $0.13 for the years ended December 31, 2019, 2018, and 2017, respectively. These agreements are present in various countries and include programs that reduce up to and including 100% of taxes in years affected by the agreements.
In May 2019, Switzerland voted a tax reform which cancelled all favourable tax regimes and introduced a single tax rate for all companies, which triggered the revaluation of all deferred tax assets and liabilities. Enactment of this law occurred in third quarter of 2019, which resulted in a tax benefit of $20 million. The remeasurement of deferred taxes was reconciled in the fourth quarter of 2019 to include the current year activity, which did not have a material impact on the net remeasurement.
|Income tax benefit (expense) computed at statutory rate|Non-deductible and non-taxable permanent differences, net|Income (loss) on equity-method investments|Valuation allowance adjustments|Effect on deferred taxes of changes in enacted tax rates|Current year credits|Other tax and credits|Benefits from tax holidays|Net impact of changes to uncertain tax positions|Earnings of subsidiaries taxed at different rates|Income tax benefit (expense)
Year ended December 31, 2019|(297)|4|—|2|14|50|(51)|129|(5)|(2)|(156)
Year ended December 31, 2018|(353)|45|—|141|(62)|43|(20)|135|(16)|(9)|(96)
Year ended December 31, 2017|(238)|17|—|92|(70)|40|(36)|114|(43)|(19)|(143)