Model: shivamsharma1967/_bge-base-financial-matryoshka
Author: shivamsharma1967
Pipeline: sentence-similarity
Library: sentence-transformers
Tags: sentence-transformers, safetensors, bert, sentence-similarity, feature-extraction, generated_from_trainer, dataset_size:135, loss:MatryoshkaLoss, loss:MultipleNegativesRankingLoss, en, arxiv:1908.10084, arxiv:2205.13147, arxiv:1705.00652, base_model:BAAI/bge-base-en-v1.5, base_model:finetune:BAAI/bge-base-en-v1.5, license:apache-2.0, model-index, text-embeddings-inference, endpoints_compatible, region:us
Base models (finetune): id: BAAI/bge-base-en-v1.5
Card metadata: language: en
license: apache-2.0
tags: sentence-transformers, sentence-similarity, feature-extraction, generated_from_trainer, dataset_size:135, loss:MatryoshkaLoss, loss:MultipleNegativesRankingLoss
base_model: BAAI/bge-base-en-v1.5
widget: source_sentence: Table of Contents
Consolidated Statements of Earnings
$ and shares in millions, except per share amounts
Fiscal Years Ended

January 28, 2017 
January 30, 2016 
January 31, 2015
Revenue
 $
39,403
 $
39,528
 $
40,339
Costofgoodssold

29,963

30,334

31,292
Restructuringchargescostofgoodssold



3


Grossprofit

9,440

9,191

9,047
Selling,generalandadministrativeexpenses

7,547

7,618

7,592
Restructuringcharges

39

198

5
Operatingincome

1,854

1,375

1,450
Otherincome(expense)
 
 
 
Gainonsaleofinvestments

3

2

13
Investmentincomeandother

31

13

14
Interestexpense

(72) 
(80) 
(90)
Earningsfromcontinuingoperationsbeforeincometaxexpense

1,816

1,310

1,387
Incometaxexpense

609

503

141
Netearningsfromcontinuingoperations

1,207

807

1,246
Gain(loss)fromdiscontinuedoperations(Note2),netoftaxexpenseof$7,$1and$0

21

90

(11)
Netearningsincludingnoncontrollinginterests

1,228

897

1,235
Netearningsfromdiscontinuedoperationsattributabletononcontrollinginterests





(2)
NetearningsattributabletoBestBuyCo.,Inc.shareholders
 $
1,228
 $
897
 $
1,233

 
 
 
Basicearnings(loss)pershareattributabletoBestBuyCo.,Inc.shareholders
 
 
 
Continuingoperations
 $
3.79
 $
2.33
 $
3.57
Discontinuedoperations

0.07

0.26

(0.04)
Basicearningspershare
 $
3.86
 $
2.59
 $
3.53

 
 
 
Dilutedearnings(loss)pershareattributabletoBestBuyCo.,Inc.shareholders
 
 
 
Continuingoperations
 $
3.74
 $
2.30
 $
3.53
Discontinuedoperations

0.07

0.26

(0.04)
Dilutedearningspershare
 $
3.81
 $
2.56
 $
3.49

 
 
 
Weighted-averagecommonsharesoutstanding
 
 
 
Basic

318.5

346.5

349.5
Diluted

322.6

350.7

353.6
SeeNotestoConsolidatedFinancialStatements.
54
Table of Contents
Consolidated Statements of Earnings
$ and shares in millions, except per share amounts
Fiscal Years Ended

January 28, 2017 
January 30, 2016 
January 31, 2015
Revenue
 $
39,403
 $
39,528
 $
40,339
Costofgoodssold

29,963

30,334

31,292
Restructuringchargescostofgoodssold



3


Grossprofit

9,440

9,191

9,047
Selling,generalandadministrativeexpenses

7,547

7,618

7,592
Restructuringcharges

39

198

5
Operatingincome

1,854

1,375

1,450
Otherincome(expense)
 
 
 
Gainonsaleofinvestments

3

2

13
Investmentincomeandother

31

13

14
Interestexpense

(72) 
(80) 
(90)
Earningsfromcontinuingoperationsbeforeincometaxexpense

1,816

1,310

1,387
Incometaxexpense

609

503

141
Netearningsfromcontinuingoperations

1,207

807

1,246
Gain(loss)fromdiscontinuedoperations(Note2),netoftaxexpenseof$7,$1and$0

21

90

(11)
Netearningsincludingnoncontrollinginterests

1,228

897

1,235
Netearningsfromdiscontinuedoperationsattributabletononcontrollinginterests





(2)
NetearningsattributabletoBestBuyCo.,Inc.shareholders
 $
1,228
 $
897
 $
1,233

 
 
 
Basicearnings(loss)pershareattributabletoBestBuyCo.,Inc.shareholders
 
 
 
Continuingoperations
 $
3.79
 $
2.33
 $
3.57
Discontinuedoperations

0.07

0.26

(0.04)
Basicearningspershare
 $
3.86
 $
2.59
 $
3.53

 
 
 
Dilutedearnings(loss)pershareattributabletoBestBuyCo.,Inc.shareholders
 
 
 
Continuingoperations
 $
3.74
 $
2.30
 $
3.53
Discontinuedoperations

0.07

0.26

(0.04)
Dilutedearningspershare
 $
3.81
 $
2.56
 $
3.49

 
 
 
Weighted-averagecommonsharesoutstanding
 
 
 
Basic

318.5

346.5

349.5
Diluted

322.6

350.7

353.6
SeeNotestoConsolidatedFinancialStatements.
54
sentences: As of May 26, 2023, what is the total amount Pepsico may borrow under its unsecured revolving credit agreements?, In 2022 Q2, which of JPM's business segments had the highest net income?, In agreement with the information outlined in the income statement, what is the FY2015 - FY2017 3 year average net profit margin (as a %) for Best Buy? Answer in units of percents and round to one decimal place., source_sentence: Lockheed Martin Corporation
Consolidated Statements of Earnings
(in millions, except per share data)
 
 
Years Ended December 31,
2022
2021
2020
Net sales
Products
$ 
55,466 $ 
56,435 $ 
54,928 
Services
 
10,518 
10,609 
10,470 
Total net sales
 
65,984 
67,044 
65,398 
Cost of sales
Products
 
(49,577) 
(50,273) 
(48,996) 
Services
 
(9,280) 
(9,463) 
(9,371) 
Severance and other charges
 
(100) 
(36) 
(27) 
Other unallocated, net
 
1,260 
1,789 
1,650 
Total cost of sales
 
(57,697) 
(57,983) 
(56,744) 
Gross profit
 
8,287 
9,061 
8,654 
Other income (expense), net
 
61 
62 
(10) 
Operating profit
 
8,348 
9,123 
8,644 
Interest expense
 
(623) 
(569) 
(591) 
Non-service FAS pension (expense) income
 
(971) 
(1,292) 
219 
Other non-operating (expense) income, net
 
(74) 
288 
(37) 
Earnings from continuing operations before income taxes
 
6,680 
7,550 
8,235 
Income tax expense
 
(948) 
(1,235) 
(1,347) 
Net earnings from continuing operations
 
5,732 
6,315 
6,888 
Net loss from discontinued operations
 
 
 
(55) 
Net earnings
$ 
5,732 $ 
6,315 $ 
6,833 
 
Earnings (loss) per common share
Basic
Continuing operations
$ 
21.74 $ 
22.85 $ 
24.60 
Discontinued operations
 
 
 
(0.20) 
Basic earnings per common share
$ 
21.74 $ 
22.85 $ 
24.40 
Diluted
Continuing operations
$ 
21.66 $ 
22.76 $ 
24.50 
Discontinued operations
 
 
 
(0.20) 
Diluted earnings per common share
$ 
21.66 $ 
22.76 $ 
24.30 
The accompanying notes are an integral part of these consolidated financial statements.
Table of Contents 
63
Lockheed Martin Corporation
Consolidated Statements of Earnings
(in millions, except per share data)
 
 
Years Ended December 31,
2022
2021
2020
Net sales
Products
$ 
55,466 $ 
56,435 $ 
54,928 
Services
 
10,518 
10,609 
10,470 
Total net sales
 
65,984 
67,044 
65,398 
Cost of sales
Products
 
(49,577) 
(50,273) 
(48,996) 
Services
 
(9,280) 
(9,463) 
(9,371) 
Severance and other charges
 
(100) 
(36) 
(27) 
Other unallocated, net
 
1,260 
1,789 
1,650 
Total cost of sales
 
(57,697) 
(57,983) 
(56,744) 
Gross profit
 
8,287 
9,061 
8,654 
Other income (expense), net
 
61 
62 
(10) 
Operating profit
 
8,348 
9,123 
8,644 
Interest expense
 
(623) 
(569) 
(591) 
Non-service FAS pension (expense) income
 
(971) 
(1,292) 
219 
Other non-operating (expense) income, net
 
(74) 
288 
(37) 
Earnings from continuing operations before income taxes
 
6,680 
7,550 
8,235 
Income tax expense
 
(948) 
(1,235) 
(1,347) 
Net earnings from continuing operations
 
5,732 
6,315 
6,888 
Net loss from discontinued operations
 
 
 
(55) 
Net earnings
$ 
5,732 $ 
6,315 $ 
6,833 
 
Earnings (loss) per common share
Basic
Continuing operations
$ 
21.74 $ 
22.85 $ 
24.60 
Discontinued operations
 
 
 
(0.20) 
Basic earnings per common share
$ 
21.74 $ 
22.85 $ 
24.40 
Diluted
Continuing operations
$ 
21.66 $ 
22.76 $ 
24.50 
Discontinued operations
 
 
 
(0.20) 
Diluted earnings per common share
$ 
21.66 $ 
22.76 $ 
24.30 
The accompanying notes are an integral part of these consolidated financial statements.
Table of Contents 
63
sentences: What is Lockheed Martin's 2 year total revenue CAGR from FY2020 to FY2022 (in units of percents and round to one decimal place)? Provide a response to the question by primarily using the statement of income., When primarily referencing the income statement and the statement of financial position, what is the FY2021 inventory turnover ratio for Nike? Inventory turnover ratio is defined as: (FY2021 COGS) / (average inventory between FY2020 and FY2021). Round your answer to two decimal places., Does 3M have a reasonably healthy liquidity profile based on its quick ratio for Q2 of FY2023? If the quick ratio is not relevant to measure liquidity, please state that and explain why., source_sentence: TableofContents


Consolidated Statements of Income 
Corning Incorporated and Subsidiary Companies




YearendedDecember31,

(Inmillions,exceptpershareamounts)

2021
 
2020
 
2019

Netsales
 $
14,082 $
11,303 $
11,503
Costofsales
 
9,019 
7,772 
7,468

 
 
 

Grossmargin
 
5,063 
3,531 
4,035

 
 
 

Operatingexpenses:
 
 
 

Selling,generalandadministrativeexpenses
 
1,827 
1,747 
1,585
Research,developmentandengineeringexpenses
 
995 
1,154 
1,031
Amortizationofpurchasedintangibles
 
129 
121 
113

 
 
 

Operatingincome
 
2,112 
509 
1,306

 
 
 

Equityinearnings(losses)ofaffiliatedcompanies(Note3)
 
35 
(25) 
17
Interestincome
 
11 
15 
21
Interestexpense
 
(300) 
(276) 
(221)
Translatedearningscontractgain(loss),net(Note15)
 
354 
(38) 
248
Transaction-relatedgain,net(Note4)
 
 
498 

Otherincome(expense),net
 
185 
(60) 
(155)

 
 
 

Incomebeforeincometaxes
 
2,397 
623 
1,216
Provisionforincometaxes(Note8)
 
(491) 
(111) 
(256)

 
 
 

NetincomeattributabletoCorningIncorporated
 $
1,906 $
512 $
960

 
 
 

EarningspercommonshareattributabletoCorningIncorporated:
 
 
 

Basic(Note18)
 $
1.30 $
0.54 $
1.11
Diluted(Note18)
 $
1.28 $
0.54 $
1.07

 
 
 

ReconciliationofnetincomeattributabletoCorningIncorporatedversusnetincomeavailabletocommon
shareholders:
 
 
 


 
 
 

NetincomeattributabletoCorningIncorporated
 $
1,906 $
512 $
960

 
 
 

SeriesAconvertiblepreferredstockdividend
 
(24) 
(98) 
(98)
Excessconsiderationpaidforredemptionofpreferredstock(1)
 
(803) 
 
 

 
 
 

Netincomeavailabletocommonshareholders
 $
1,079 $
414 $
862


(1)
RefertoNote17(Shareholders'Equity)andNote18(EarningsperCommonShare)totheconsolidatedfinancialstatementsforadditionalinformation.

Theaccompanyingnotesareanintegralpartoftheseconsolidatedfinancialstatements.

65
TableofContents


Consolidated Statements of Income 
Corning Incorporated and Subsidiary Companies




YearendedDecember31,

(Inmillions,exceptpershareamounts)

2021
 
2020
 
2019

Netsales
 $
14,082 $
11,303 $
11,503
Costofsales
 
9,019 
7,772 
7,468

 
 
 

Grossmargin
 
5,063 
3,531 
4,035

 
 
 

Operatingexpenses:
 
 
 

Selling,generalandadministrativeexpenses
 
1,827 
1,747 
1,585
Research,developmentandengineeringexpenses
 
995 
1,154 
1,031
Amortizationofpurchasedintangibles
 
129 
121 
113

 
 
 

Operatingincome
 
2,112 
509 
1,306

 
 
 

Equityinearnings(losses)ofaffiliatedcompanies(Note3)
 
35 
(25) 
17
Interestincome
 
11 
15 
21
Interestexpense
 
(300) 
(276) 
(221)
Translatedearningscontractgain(loss),net(Note15)
 
354 
(38) 
248
Transaction-relatedgain,net(Note4)
 
 
498 

Otherincome(expense),net
 
185 
(60) 
(155)

 
 
 

Incomebeforeincometaxes
 
2,397 
623 
1,216
Provisionforincometaxes(Note8)
 
(491) 
(111) 
(256)

 
 
 

NetincomeattributabletoCorningIncorporated
 $
1,906 $
512 $
960

 
 
 

EarningspercommonshareattributabletoCorningIncorporated:
 
 
 

Basic(Note18)
 $
1.30 $
0.54 $
1.11
Diluted(Note18)
 $
1.28 $
0.54 $
1.07

 
 
 

ReconciliationofnetincomeattributabletoCorningIncorporatedversusnetincomeavailabletocommon
shareholders:
 
 
 


 
 
 

NetincomeattributabletoCorningIncorporated
 $
1,906 $
512 $
960

 
 
 

SeriesAconvertiblepreferredstockdividend
 
(24) 
(98) 
(98)
Excessconsiderationpaidforredemptionofpreferredstock(1)
 
(803) 
 
 

 
 
 

Netincomeavailabletocommonshareholders
 $
1,079 $
414 $
862


(1)
RefertoNote17(Shareholders'Equity)andNote18(EarningsperCommonShare)totheconsolidatedfinancialstatementsforadditionalinformation.

Theaccompanyingnotesareanintegralpartoftheseconsolidatedfinancialstatements.

65
sentences: Taking into account the information outlined in the income statement, what is the FY2019 - FY2021 3 year average unadjusted operating income % margin for Corning? Answer in units of percents and round to one decimal place., We want to calculate a financial metric. Please help us compute it by basing your answers off of the cash flow statement and the income statement. Here's the question: what is the FY2022 retention ratio (using total cash dividends paid and net income attributable to shareholders) for General Mills? Round answer to two decimal places., What is Netflix's year end FY2017 total current liabilities (in USD millions)? Base your judgments on the information provided primarily in the balance sheet., source_sentence: Forward-Looking Statements
This Annual Report on Form 10-K contains statements reflecting our views about our future performance that constitute
forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (Reform Act).
Statements that constitute forward-looking statements within the meaning of the Reform Act are generally identified through the
inclusion of words such as aim, anticipate, believe, drive, estimate, expect, expressed confidence, forecast,
future, goal, guidance, intend, may, objective, outlook, plan, position, potential, project, seek,
should, strategy, target, will or similar statements or variations of such words and other similar expressions. All
statements addressing our future operating performance, and statements addressing events and developments that we expect or
anticipate will occur in the future, are forward-looking statements within the meaning of the Reform Act. These forward-looking
statements are based on currently available information, operating plans and projections about future events and trends. They
inherently involve risks and uncertainties that could cause actual results to differ materially from those predicted in any such
forward-looking statement. These risks and uncertainties include, but are not limited to, those described in Item 1A. Risk
Factors and Item 7. Managements Discussion and Analysis of Financial Condition and Results of Operations Our Business
 Our Business Risks. Investors are cautioned not to place undue reliance on any such forward-looking statements, which speak
only as of the date they are made. We undertake no obligation to update any forward-looking statement, whether as a result of
new information, future events or otherwise. The discussion of risks in this report is by no means all-inclusive but is designed to
highlight what we believe are important factors to consider when evaluating our future performance.
PART I
Item 1. Business.
When used in this report, the terms we, us, our, PepsiCo and the Company mean PepsiCo, Inc. and its consolidated
subsidiaries, collectively. Certain terms used in this Annual Report on Form 10-K are defined in the Glossary included in Item 7.
of this report.
Company Overview
We were incorporated in Delaware in 1919 and reincorporated in North Carolina in 1986. We are a leading global beverage and
convenient food company with a complementary portfolio of brands, including Lays, Doritos, Cheetos, Gatorade, Pepsi-Cola,
Mountain Dew, Quaker and SodaStream. Through our operations, authorized bottlers, contract manufacturers and other third
parties, we make, market, distribute and sell a wide variety of beverages and convenient foods, serving customers and consumers
in more than 200 countries and territories.
Our Operations
We are organized into seven reportable segments (also referred to as divisions), as follows:
1) Frito-Lay North America (FLNA), which includes our branded convenient food businesses in the United States and
Canada;
2) Quaker Foods North America (QFNA), which includes our branded convenient food businesses, such as cereal, rice, pasta
and other branded food, in the United States and Canada;
3) PepsiCo Beverages North America (PBNA), which includes our beverage businesses in the United States and Canada;
4) Latin America (LatAm), which includes all of our beverage and convenient food businesses in Latin America;
5) Europe, which includes all of our beverage and convenient food businesses in Europe;
Table of Contents
Forward-Looking Statements
This Annual Report on Form 10-K contains statements reflecting our views about our future performance that constitute
forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (Reform Act).
Statements that constitute forward-looking statements within the meaning of the Reform Act are generally identified through the
inclusion of words such as aim, anticipate, believe, drive, estimate, expect, expressed confidence, forecast,
future, goal, guidance, intend, may, objective, outlook, plan, position, potential, project, seek,
should, strategy, target, will or similar statements or variations of such words and other similar expressions. All
statements addressing our future operating performance, and statements addressing events and developments that we expect or
anticipate will occur in the future, are forward-looking statements within the meaning of the Reform Act. These forward-looking
statements are based on currently available information, operating plans and projections about future events and trends. They
inherently involve risks and uncertainties that could cause actual results to differ materially from those predicted in any such
forward-looking statement. These risks and uncertainties include, but are not limited to, those described in Item 1A. Risk
Factors and Item 7. Managements Discussion and Analysis of Financial Condition and Results of Operations Our Business
 Our Business Risks. Investors are cautioned not to place undue reliance on any such forward-looking statements, which speak
only as of the date they are made. We undertake no obligation to update any forward-looking statement, whether as a result of
new information, future events or otherwise. The discussion of risks in this report is by no means all-inclusive but is designed to
highlight what we believe are important factors to consider when evaluating our future performance.
PART I
Item 1. Business.
When used in this report, the terms we, us, our, PepsiCo and the Company mean PepsiCo, Inc. and its consolidated
subsidiaries, collectively. Certain terms used in this Annual Report on Form 10-K are defined in the Glossary included in Item 7.
of this report.
Company Overview
We were incorporated in Delaware in 1919 and reincorporated in North Carolina in 1986. We are a leading global beverage and
convenient food company with a complementary portfolio of brands, including Lays, Doritos, Cheetos, Gatorade, Pepsi-Cola,
Mountain Dew, Quaker and SodaStream. Through our operations, authorized bottlers, contract manufacturers and other third
parties, we make, market, distribute and sell a wide variety of beverages and convenient foods, serving customers and consumers
in more than 200 countries and territories.
Our Operations
We are organized into seven reportable segments (also referred to as divisions), as follows:
1) Frito-Lay North America (FLNA), which includes our branded convenient food businesses in the United States and
Canada;
2) Quaker Foods North America (QFNA), which includes our branded convenient food businesses, such as cereal, rice, pasta
and other branded food, in the United States and Canada;
3) PepsiCo Beverages North America (PBNA), which includes our beverage businesses in the United States and Canada;
4) Latin America (LatAm), which includes all of our beverage and convenient food businesses in Latin America;
5) Europe, which includes all of our beverage and convenient food businesses in Europe;
2

6) Africa, Middle East and South Asia (AMESA), which includes all of our beverage and convenient food businesses in
Africa, the Middle East and South Asia; and
7) Asia Pacific, Australia and New Zealand and China Region (APAC), which includes all of our beverage and convenient
food businesses in Asia Pacific, Australia and New Zealand, and China region.
Table of Contents
6) Africa, Middle East and South Asia (AMESA), which includes all of our beverage and convenient food businesses in
Africa, the Middle East and South Asia; and
7) Asia Pacific, Australia and New Zealand and China Region (APAC), which includes all of our beverage and convenient
food businesses in Asia Pacific, Australia and New Zealand, and China region.
Frito-Lay North America
Either independently or in conjunction with third parties, FLNA makes, markets, distributes and sells branded convenient
foods. These foods include branded dips, Cheetos cheese-flavored snacks, Doritos tortilla chips, Fritos corn chips, Lays potato
chips, Ruffles potato chips and Tostitos tortilla chips. FLNAs branded products are sold to independent distributors and retailers.
In addition, FLNAs joint venture with Strauss Group makes, markets, distributes and sells Sabra refrigerated dips and spreads.
Quaker Foods North America
Either independently or in conjunction with third parties, QFNA makes, markets, distributes and sells branded convenient foods,
which include cereals, rice, pasta and other branded products. QFNAs products include Capn Crunch cereal, Life cereal, Pearl
Milling Company syrups and mixes, Quaker Chewy granola bars, Quaker grits, Quaker oatmeal, Quaker rice cakes, Quaker
Simply Granola and Rice-A-Roni side dishes. QFNAs branded products are sold to independent distributors and retailers.
PepsiCo Beverages North America
Either independently or in conjunction with third parties, PBNA makes, markets and sells beverage concentrates, fountain syrups
and finished goods under various beverage brands including Aquafina, Diet Mountain Dew, Diet Pepsi, Gatorade, Gatorade Zero,
Mountain Dew, Pepsi and Propel. PBNA operates its own bottling plants and distribution facilities and sells branded finished
goods directly to independent distributors and retailers. PBNA also sells concentrate and finished goods for our brands to
authorized and independent bottlers, who in turn sell our branded finished goods to independent distributors and retailers in
certain markets. PBNA also, either independently or in conjunction with third parties, makes, markets, distributes and sells ready-
to-drink tea and coffee products through joint ventures with Unilever (under the Lipton brand name) and Starbucks, respectively.
Further, PBNA manufactures and distributes certain brands licensed from Keurig Dr Pepper Inc., including Crush, Dr Pepper and
Schweppes, and certain juice brands licensed from Dole Food Company, Inc. and Ocean Spray Cranberries, Inc. In 2022, PBNA
began to distribute Hard MTN Dew, an alcoholic beverage manufactured and owned by the Boston Beer Company. In the first
quarter of 2022, we sold our Tropicana, Naked and other select juice brands to PAI Partners, while retaining a 39%
noncontrolling interest in a newly formed joint venture, Tropicana Brands Group (TBG), operating across North America and
Europe (Juice Transaction). In the United States, PepsiCo acts as the exclusive distributor for TBGs portfolio of brands for
small-format and foodservice customers with chilled direct-store-delivery (DSD). See Note 13 to our consolidated financial
statements for further information.
Latin America
Either independently or in conjunction with third parties, LatAm makes, markets, distributes and sells a number of convenient
food brands including Cheetos, Doritos, Emperador, Lays, Marias Gamesa, Ruffles, Sabritas, Saladitas and Tostitos, as well as
many Quaker-branded convenient foods. LatAm also, either independently or in conjunction with third parties, makes, markets,
distributes and sells beverage concentrates, fountain syrups and finished goods under various beverage brands including 7UP,
Diet 7UP, Gatorade, H2oh!, Manzanita Sol, Mirinda, Pepsi, Pepsi Black, San Carlos and Toddy. These branded products are sold
to authorized and independent bottlers, independent distributors and retailers. LatAm
3
sentences: Among operations, investing, and financing activities, which brought in the most (or lost the least) cash flow for AMD in FY22?, Which type of debt received the largest investment among the short term investments for MGM in H1 FY2023?, What are the geographies that Pepsico primarily operates in as of FY2022?, source_sentence: Pension and postretirement health care and life insurance benefits earned during the year, as well as interest on projected benefit obligations, 
are accrued.
for assets and liabilities. We record these translation adjustments in Accumulated other comprehensive loss, a separate component of Equity, 
in our consolidated balance sheets. We record exchange gains and losses resulting from the conversion of transaction currency to functional 
currency as a component of Other income (expense), net. 
Employee Benefit Plans 
Pension and postretirement health care and life insurance benefits earned during the year, as well as interest on projected benefit obligations, 
are accrued. Prior service costs and credits resulting from changes in plan benefits are generally amortized over the average remaining service 
period of the employees expected to receive benefits. Expected return on plan assets is determined by applying the return on assets 
assumption to the actual fair value of plan assets. Actuarial gains and losses are recognized in Other income (expense), net in the year in 
which they occur. These gains and losses are measured annually as of December 31 or upon a remeasurement event. Verizon management 
employees no longer earn pension benefits or earn service towards the Company retiree medical subsidy. See Note 11 for additional 
information. 
We recognize a pension or a postretirement plans funded status as either an asset or liability in the consolidated balance sheets. Also, we 
measure any unrecognized prior service costs and credits that arise during the period as a component of Accumulated other comprehensive 
income, net of applicable income tax. 
Derivative Instruments 
We enter into derivative transactions primarily to manage our exposure to fluctuations in foreign currency exchange rates and interest rates. 
We employ risk management strategies, which may include the use of a variety of derivatives including cross currency swaps, forward 
starting interest rate swaps, interest rate swaps, treasury rate locks, interest rate caps and foreign exchange forwards. We do not hold 
derivatives for trading purposes. 
We measure all derivatives at fair value and recognize them as either assets or liabilities in our consolidated balance sheets. Our derivative 
instruments are valued primarily using models based on readily observable market parameters for all substantial terms of our derivative 
contracts and thus are classified as Level 2. Changes in the fair values of derivative instruments applied as economic hedges are recognized in 
earnings in the current period. For fair value hedges, the change in the fair value of the derivative instruments is recognized in earnings, along 
with the change in the fair value of the hedged item. For cash flow hedges, the change in the fair value of the derivative instruments is 
reported in Other comprehensive income (loss) and recognized in earnings when the hedged item is recognized in earnings. For net 
investment hedges of certain of our foreign operations, the change in the fair value of the hedging instruments is reported in Other 
comprehensive income (loss) as part of the cumulative translation adjustment and partially offsets the impact of foreign currency changes on 
the value of our net investment. 
Cash flows from derivatives, which are designated as accounting hedges or applied as economic hedges, are presented consistently with the 
cash flow classification of the related hedged items. See Note 9 for additional information. 
Variable Interest Entities 
VIEs are entities that lack sufficient equity to permit the entity to finance its activities without additional subordinated financial support from 
other parties, have equity investors that do not have the ability to make significant decisions relating to the entitys operations through voting 
rights, do not have the obligation to absorb the expected losses, or do not have the right to receive the residual returns of the entity. We 
consolidate the assets and liabilities of VIEs when we are deemed to be the primary beneficiary. The primary beneficiary is the party that has 
the power to make the decisions that most significantly affect the economic performance of the VIE and has the obligation to absorb losses or 
the right to receive benefits that could potentially be significant to the VIE.
63
Verizon 2021 Annual Report on Form 10-K

Estimated Future Benefit Payments 
The benefit payments to retirees are expected to be paid as follows: 
(dollars in millions) 
Year
Pension Benefits 
Health Care and Life 
2022
$ 
2,049 
$ 
906 
2023
1,648 
883 
2024
1,097 
862 
2025
1,066 
850 
2026
1,034 
840 
2027 to 2031
5,097 
4,139
fair value is measured using the NAV per share as a practical expedient are not leveled within the fair value hierarchy but are included in total 
investments. 
Employer Contributions 
In 2021, we made no discretionary contribution to our qualified pension plans, $58 million of contributions to our nonqualified pension plans 
and $885 million of contributions to our other postretirement benefit plans. No qualified pension plans contributions are expected to be made 
in 2022. Nonqualified pension plans contributions are estimated to be approximately $60 million and contributions to our other postretirement 
benefit plans are estimated to be approximately $860 million in 2022. 
Estimated Future Benefit Payments 
The benefit payments to retirees are expected to be paid as follows: 
(dollars in millions) 
Year
Pension Benefits 
Health Care and Life 
2022
$ 
2,049 
$ 
906 
2023
1,648 
883 
2024
1,097 
862 
2025
1,066 
850 
2026
1,034 
840 
2027 to 2031
5,097 
4,139 
Savings Plan and Employee Stock Ownership Plans 
We maintain four leveraged employee stock ownership plans (ESOP). We match a certain percentage of eligible employee contributions to 
certain savings plans with shares of our common stock from this ESOP. At December 31, 2021, the number of allocated shares of common 
stock in this ESOP was 44 million. There were no unallocated shares of common stock in this ESOP at December 31, 2021. All leveraged 
ESOP shares are included in earnings per share computations. 
Total savings plan costs were $690 million in 2021, $730 million in 2020 and $897 million in 2019. 
Severance Benefits 
The following table provides an analysis of our severance liability: 
(dollars in millions) 
Year 
Beginning of 
Year 
Charged to 
Expense
Payments
Other
End of Year 
2019
$ 
2,156 
$ 
260 
$ 
(1,847) $ 
(4) $
565 
2020
565 
309 
(248)
(24)
602 
2021
602 
233 
(258)
(29)
548 
Severance, Pension and Benefits (Credits) Charges 
During 2021, in accordance with our accounting policy to recognize actuarial gains and losses in the period in which they occur, we recorded 
net pre-tax pension and benefits credits of $2.4 billion in our pension and postretirement benefit plans. The credits were recorded in Other 
income (expense), net in our consolidated statement of income and were primarily driven by a credit of $1.1 billion due to an increase in our 
discount rate assumption used to determine the current year liabilities of our pension plans and postretirement benefit plans from a weighted-
average of 2.6% at December 31, 2020 to a weighted-average of 2.9% at December 31, 2021, a credit of $847 million due to the difference 
between our estimated and our actual return on assets and a credit of $453 million due to other actuarial assumption adjustments. During 
2021, we also recorded net pre-tax severance charges of $233 million in Selling, general and administrative expense in our consolidated 
statements of income. 
During 2020, we recorded net pre-tax pension and benefits charges of $1.6 billion in our pension and postretirement benefit plans. The 
charges were recorded in Other income (expense), net in our consolidated statement of income and were primarily driven by a charge of 
$3.2 billion due to a decrease in our discount rate assumption used to determine the current year liabilities of our pension plans and 
postretirement benefit plans from a weighted-average of 3.3% at December 31, 2019 to a weighted-average of 2.6% at December 31, 2020, 
partially offset by a credit of $1.6 billion due to the difference between our estimated and our actual return on assets. During 2020, we also 
recorded net pre-tax severance charges of $309 million in Selling, general and administrative expense in our consolidated statements of 
income. 
During 2019, we recorded net pre-tax pension and benefits charges of $126 million in our pension and postretirement benefit plans. The 
charges were recorded in Other income (expense), net in our consolidated statement of income and were primarily driven by a charge of 
$4.3 billion due to a decrease in our discount rate assumption used to determine the current year liabilities of our pension plans and 
postretirement benefits plans from a weighted-average of 4.4% at December 31, 2018 to a weighted-average of 3.3% at December 31, 2019, 
partially offset by a credit of $2.3 billion due to the difference between our estimated return on assets and our actual return on assets and a 
94
Verizon 2021 Annual Report on Form 10-K
sentences: Based on the information provided primarily in the balance sheet and the statement of income, what is FY2020 days payable outstanding (DPO) for Corning? DPO is defined as: 365 * (average accounts payable between FY2019 and FY2020) / (FY2020 COGS + change in inventory between FY2019 and FY2020). Round your answer to two decimal places., As of FY 2021, how much did Verizon expect to pay for its retirees in 2024?, What was the largest liability in American Express's Balance Sheet in 2022?
pipeline_tag: sentence-similarity
library_name: sentence-transformers
metrics: cosine_accuracy@1, cosine_accuracy@3, cosine_accuracy@5, cosine_accuracy@10, cosine_precision@1, cosine_precision@3, cosine_precision@5, cosine_precision@10, cosine_recall@1, cosine_recall@3, cosine_recall@5, cosine_recall@10, cosine_ndcg@10, cosine_mrr@10, cosine_map@100
model-index: name: BGE base Financial Matryoshka
results: task: type: information-retrieval
name: Information Retrieval
dataset: name: dim 768
type: dim_768
metrics: type: cosine_accuracy@1
value: 0.5333333333333333
name: Cosine Accuracy@1
verified: no, type: cosine_accuracy@3
value: 0.6666666666666666
name: Cosine Accuracy@3
verified: no, type: cosine_accuracy@5
value: 0.8
name: Cosine Accuracy@5
verified: no, type: cosine_accuracy@10
value: 0.8
name: Cosine Accuracy@10
verified: no, type: cosine_precision@1
value: 0.5333333333333333
name: Cosine Precision@1
verified: no, type: cosine_precision@3
value: 0.22222222222222224
name: Cosine Precision@3
verified: no, type: cosine_precision@5
value: 0.16000000000000003
name: Cosine Precision@5
verified: no, type: cosine_precision@10
value: 0.08000000000000002
name: Cosine Precision@10
verified: no, type: cosine_recall@1
value: 0.5333333333333333
name: Cosine Recall@1
verified: no, type: cosine_recall@3
value: 0.6666666666666666
name: Cosine Recall@3
verified: no, type: cosine_recall@5
value: 0.8
name: Cosine Recall@5
verified: no, type: cosine_recall@10
value: 0.8
name: Cosine Recall@10
verified: no, type: cosine_ndcg@10
value: 0.6632306079252929
name: Cosine Ndcg@10
verified: no, type: cosine_mrr@10
value: 0.6188888888888887
name: Cosine Mrr@10
verified: no, type: cosine_map@100
value: 0.6269729032064414
name: Cosine Map@100
verified: no, task: type: information-retrieval
name: Information Retrieval
dataset: name: dim 512
type: dim_512
metrics: type: cosine_accuracy@1
value: 0.4
name: Cosine Accuracy@1
verified: no, type: cosine_accuracy@3
value: 0.6666666666666666
name: Cosine Accuracy@3
verified: no, type: cosine_accuracy@5
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name: Cosine Accuracy@5
verified: no, type: cosine_accuracy@10
value: 0.8
name: Cosine Accuracy@10
verified: no, type: cosine_precision@1
value: 0.4
name: Cosine Precision@1
verified: no, type: cosine_precision@3
value: 0.22222222222222224
name: Cosine Precision@3
verified: no, type: cosine_precision@5
value: 0.14666666666666667
name: Cosine Precision@5
verified: no, type: cosine_precision@10
value: 0.08000000000000002
name: Cosine Precision@10
verified: no, type: cosine_recall@1
value: 0.4
name: Cosine Recall@1
verified: no, type: cosine_recall@3
value: 0.6666666666666666
name: Cosine Recall@3
verified: no, type: cosine_recall@5
value: 0.7333333333333333
name: Cosine Recall@5
verified: no, type: cosine_recall@10
value: 0.8
name: Cosine Recall@10
verified: no, type: cosine_ndcg@10
value: 0.6119782003930525
name: Cosine Ndcg@10
verified: no, type: cosine_mrr@10
value: 0.55
name: Cosine Mrr@10
verified: no, type: cosine_map@100
value: 0.5573786181139122
name: Cosine Map@100
verified: no, task: type: information-retrieval
name: Information Retrieval
dataset: name: dim 256
type: dim_256
metrics: type: cosine_accuracy@1
value: 0.3333333333333333
name: Cosine Accuracy@1
verified: no, type: cosine_accuracy@3
value: 0.6
name: Cosine Accuracy@3
verified: no, type: cosine_accuracy@5
value: 0.8
name: Cosine Accuracy@5
verified: no, type: cosine_accuracy@10
value: 0.8
name: Cosine Accuracy@10
verified: no, type: cosine_precision@1
value: 0.3333333333333333
name: Cosine Precision@1
verified: no, type: cosine_precision@3
value: 0.2
name: Cosine Precision@3
verified: no, type: cosine_precision@5
value: 0.16000000000000003
name: Cosine Precision@5
verified: no, type: cosine_precision@10
value: 0.08000000000000002
name: Cosine Precision@10
verified: no, type: cosine_recall@1
value: 0.3333333333333333
name: Cosine Recall@1
verified: no, type: cosine_recall@3
value: 0.6
name: Cosine Recall@3
verified: no, type: cosine_recall@5
value: 0.8
name: Cosine Recall@5
verified: no, type: cosine_recall@10
value: 0.8
name: Cosine Recall@10
verified: no, type: cosine_ndcg@10
value: 0.5673376953682828
name: Cosine Ndcg@10
verified: no, type: cosine_mrr@10
value: 0.49111111111111116
name: Cosine Mrr@10
verified: no, type: cosine_map@100
value: 0.5036996336996337
name: Cosine Map@100
verified: no, task: type: information-retrieval
name: Information Retrieval
dataset: name: dim 128
type: dim_128
metrics: type: cosine_accuracy@1
value: 0.4
name: Cosine Accuracy@1
verified: no, type: cosine_accuracy@3
value: 0.4666666666666667
name: Cosine Accuracy@3
verified: no, type: cosine_accuracy@5
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name: Cosine Accuracy@5
verified: no, type: cosine_accuracy@10
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name: Cosine Accuracy@10
verified: no, type: cosine_precision@1
value: 0.4
name: Cosine Precision@1
verified: no, type: cosine_precision@3
value: 0.15555555555555553
name: Cosine Precision@3
verified: no, type: cosine_precision@5
value: 0.13333333333333333
name: Cosine Precision@5
verified: no, type: cosine_precision@10
value: 0.07333333333333332
name: Cosine Precision@10
verified: no, type: cosine_recall@1
value: 0.4
name: Cosine Recall@1
verified: no, type: cosine_recall@3
value: 0.4666666666666667
name: Cosine Recall@3
verified: no, type: cosine_recall@5
value: 0.6666666666666666
name: Cosine Recall@5
verified: no, type: cosine_recall@10
value: 0.7333333333333333
name: Cosine Recall@10
verified: no, type: cosine_ndcg@10
value: 0.5358477003917206
name: Cosine Ndcg@10
verified: no, type: cosine_mrr@10
value: 0.47507936507936505
name: Cosine Mrr@10
verified: no, type: cosine_map@100
value: 0.4891546416546416
name: Cosine Map@100
verified: no, task: type: information-retrieval
name: Information Retrieval
dataset: name: dim 64
type: dim_64
metrics: type: cosine_accuracy@1
value: 0.26666666666666666
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verified: no, type: cosine_accuracy@3
value: 0.4666666666666667
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value: 0.4666666666666667
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verified: no, type: cosine_accuracy@10
value: 0.6666666666666666
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value: 0.26666666666666666
name: Cosine Precision@1
verified: no, type: cosine_precision@3
value: 0.15555555555555553
name: Cosine Precision@3
verified: no, type: cosine_precision@5
value: 0.09333333333333332
name: Cosine Precision@5
verified: no, type: cosine_precision@10
value: 0.06666666666666667
name: Cosine Precision@10
verified: no, type: cosine_recall@1
value: 0.26666666666666666
name: Cosine Recall@1
verified: no, type: cosine_recall@3
value: 0.4666666666666667
name: Cosine Recall@3
verified: no, type: cosine_recall@5
value: 0.4666666666666667
name: Cosine Recall@5
verified: no, type: cosine_recall@10
value: 0.6666666666666666
name: Cosine Recall@10
verified: no, type: cosine_ndcg@10
value: 0.43911074977040077
name: Cosine Ndcg@10
verified: no, type: cosine_mrr@10
value: 0.37015873015873013
name: Cosine Mrr@10
verified: no, type: cosine_map@100
value: 0.39005772005772
name: Cosine Map@100
verified: no
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Created: 2025-03-11 11:06:02