aveni-ai/aveni-bench-tat-qa huggingface dataset:
14. Fair Value Measures The Company is required to categorize both financial and nonfinancial assets and liabilities based on the following fair value hierarchy. The fair value of an asset is the price at which the asset could be sold in an orderly transaction between unrelated, knowledgeable, and willing parties able to engage in the transaction. A liability’s fair value is defined as the amount that would be paid to transfer the liability to a new obligor in a transaction between such parties, not the amount that would be paid to settle the liability with the creditor. • Level 1 - Quoted prices in active markets for identical assets or liabilities. • Level 2 - Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. • Level 3 - Unobservable inputs for the asset or liability supported by little or no market activity and are significant to the fair value of the assets or liabilities. The disclosure of fair value of certain financial assets and liabilities recorded at cost are as follows: Cash and cash equivalents, accounts receivable, and accounts payable: The carrying amount approximates fair value due to the short maturity of these instruments. Long-term debt: The carrying value of the Company’s long-term debt is at its stated value. We have not elected to carry our long-term debt at fair value. Fair values for debt are based on quoted market prices or published forward interest rate curves, which are level 2 inputs. Estimated fair values are management’s estimates, which is a level 3 input; however, when there is no readily available market data, the estimated fair values may not represent the amounts that could be realized in a current transaction, and the fair values could change significantly. The fair value of the Company’s debt is sensitive to changes in the general level of U.S. interest rates. Under its current policies, the Company does not use interest rate derivative instruments to manage exposure to interest rate changes. A one percent (1%) decrease in interest rates would increase the net fair value of the Company’s debt by $23,000 at June 1, 2019. The fair value and carrying value of the Company’s long-term debt were as follows (in thousands):

June 1, 2019	June 2, 2018

Carrying Value	Fair Value	Carrying Value	Fair Value

Note payable	$1,283	$1,309	$4,750	$4,732

Long-term leases	1,054	940	1,340	1,171

$2,337	$2,249	$6,090	$5,903

Question: The carrying value of the long term debt is held at which value?
Answer: stated value
14. Fair Value Measures The Company is required to categorize both financial and nonfinancial assets and liabilities based on the following fair value hierarchy. The fair value of an asset is the price at which the asset could be sold in an orderly transaction between unrelated, knowledgeable, and willing parties able to engage in the transaction. A liability’s fair value is defined as the amount that would be paid to transfer the liability to a new obligor in a transaction between such parties, not the amount that would be paid to settle the liability with the creditor. • Level 1 - Quoted prices in active markets for identical assets or liabilities. • Level 2 - Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. • Level 3 - Unobservable inputs for the asset or liability supported by little or no market activity and are significant to the fair value of the assets or liabilities. The disclosure of fair value of certain financial assets and liabilities recorded at cost are as follows: Cash and cash equivalents, accounts receivable, and accounts payable: The carrying amount approximates fair value due to the short maturity of these instruments. Long-term debt: The carrying value of the Company’s long-term debt is at its stated value. We have not elected to carry our long-term debt at fair value. Fair values for debt are based on quoted market prices or published forward interest rate curves, which are level 2 inputs. Estimated fair values are management’s estimates, which is a level 3 input; however, when there is no readily available market data, the estimated fair values may not represent the amounts that could be realized in a current transaction, and the fair values could change significantly. The fair value of the Company’s debt is sensitive to changes in the general level of U.S. interest rates. Under its current policies, the Company does not use interest rate derivative instruments to manage exposure to interest rate changes. A one percent (1%) decrease in interest rates would increase the net fair value of the Company’s debt by $23,000 at June 1, 2019. The fair value and carrying value of the Company’s long-term debt were as follows (in thousands):

June 1, 2019	June 2, 2018

Carrying Value	Fair Value	Carrying Value	Fair Value

Note payable	$1,283	$1,309	$4,750	$4,732

Long-term leases	1,054	940	1,340	1,171

$2,337	$2,249	$6,090	$5,903

Question: What is the difference in the carrying value and the fair value of Notes Payable in 2019?
Answer: -26
14. Fair Value Measures The Company is required to categorize both financial and nonfinancial assets and liabilities based on the following fair value hierarchy. The fair value of an asset is the price at which the asset could be sold in an orderly transaction between unrelated, knowledgeable, and willing parties able to engage in the transaction. A liability’s fair value is defined as the amount that would be paid to transfer the liability to a new obligor in a transaction between such parties, not the amount that would be paid to settle the liability with the creditor. • Level 1 - Quoted prices in active markets for identical assets or liabilities. • Level 2 - Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. • Level 3 - Unobservable inputs for the asset or liability supported by little or no market activity and are significant to the fair value of the assets or liabilities. The disclosure of fair value of certain financial assets and liabilities recorded at cost are as follows: Cash and cash equivalents, accounts receivable, and accounts payable: The carrying amount approximates fair value due to the short maturity of these instruments. Long-term debt: The carrying value of the Company’s long-term debt is at its stated value. We have not elected to carry our long-term debt at fair value. Fair values for debt are based on quoted market prices or published forward interest rate curves, which are level 2 inputs. Estimated fair values are management’s estimates, which is a level 3 input; however, when there is no readily available market data, the estimated fair values may not represent the amounts that could be realized in a current transaction, and the fair values could change significantly. The fair value of the Company’s debt is sensitive to changes in the general level of U.S. interest rates. Under its current policies, the Company does not use interest rate derivative instruments to manage exposure to interest rate changes. A one percent (1%) decrease in interest rates would increase the net fair value of the Company’s debt by $23,000 at June 1, 2019. The fair value and carrying value of the Company’s long-term debt were as follows (in thousands):

June 1, 2019	June 2, 2018

Carrying Value	Fair Value	Carrying Value	Fair Value

Note payable	$1,283	$1,309	$4,750	$4,732

Long-term leases	1,054	940	1,340	1,171

$2,337	$2,249	$6,090	$5,903

Question: What is the percentage increase / (decrease) in the carrying value of Note payable?
Answer: -72.99
14. Fair Value Measures The Company is required to categorize both financial and nonfinancial assets and liabilities based on the following fair value hierarchy. The fair value of an asset is the price at which the asset could be sold in an orderly transaction between unrelated, knowledgeable, and willing parties able to engage in the transaction. A liability’s fair value is defined as the amount that would be paid to transfer the liability to a new obligor in a transaction between such parties, not the amount that would be paid to settle the liability with the creditor. • Level 1 - Quoted prices in active markets for identical assets or liabilities. • Level 2 - Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. • Level 3 - Unobservable inputs for the asset or liability supported by little or no market activity and are significant to the fair value of the assets or liabilities. The disclosure of fair value of certain financial assets and liabilities recorded at cost are as follows: Cash and cash equivalents, accounts receivable, and accounts payable: The carrying amount approximates fair value due to the short maturity of these instruments. Long-term debt: The carrying value of the Company’s long-term debt is at its stated value. We have not elected to carry our long-term debt at fair value. Fair values for debt are based on quoted market prices or published forward interest rate curves, which are level 2 inputs. Estimated fair values are management’s estimates, which is a level 3 input; however, when there is no readily available market data, the estimated fair values may not represent the amounts that could be realized in a current transaction, and the fair values could change significantly. The fair value of the Company’s debt is sensitive to changes in the general level of U.S. interest rates. Under its current policies, the Company does not use interest rate derivative instruments to manage exposure to interest rate changes. A one percent (1%) decrease in interest rates would increase the net fair value of the Company’s debt by $23,000 at June 1, 2019. The fair value and carrying value of the Company’s long-term debt were as follows (in thousands):

June 1, 2019	June 2, 2018

Carrying Value	Fair Value	Carrying Value	Fair Value

Note payable	$1,283	$1,309	$4,750	$4,732

Long-term leases	1,054	940	1,340	1,171

$2,337	$2,249	$6,090	$5,903

Question: What is the increase / (decrease) in the total debt carrying value?
Answer: -3753
14. Fair Value Measures The Company is required to categorize both financial and nonfinancial assets and liabilities based on the following fair value hierarchy. The fair value of an asset is the price at which the asset could be sold in an orderly transaction between unrelated, knowledgeable, and willing parties able to engage in the transaction. A liability’s fair value is defined as the amount that would be paid to transfer the liability to a new obligor in a transaction between such parties, not the amount that would be paid to settle the liability with the creditor. • Level 1 - Quoted prices in active markets for identical assets or liabilities. • Level 2 - Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. • Level 3 - Unobservable inputs for the asset or liability supported by little or no market activity and are significant to the fair value of the assets or liabilities. The disclosure of fair value of certain financial assets and liabilities recorded at cost are as follows: Cash and cash equivalents, accounts receivable, and accounts payable: The carrying amount approximates fair value due to the short maturity of these instruments. Long-term debt: The carrying value of the Company’s long-term debt is at its stated value. We have not elected to carry our long-term debt at fair value. Fair values for debt are based on quoted market prices or published forward interest rate curves, which are level 2 inputs. Estimated fair values are management’s estimates, which is a level 3 input; however, when there is no readily available market data, the estimated fair values may not represent the amounts that could be realized in a current transaction, and the fair values could change significantly. The fair value of the Company’s debt is sensitive to changes in the general level of U.S. interest rates. Under its current policies, the Company does not use interest rate derivative instruments to manage exposure to interest rate changes. A one percent (1%) decrease in interest rates would increase the net fair value of the Company’s debt by $23,000 at June 1, 2019. The fair value and carrying value of the Company’s long-term debt were as follows (in thousands):

June 1, 2019	June 2, 2018

Carrying Value	Fair Value	Carrying Value	Fair Value

Note payable	$1,283	$1,309	$4,750	$4,732

Long-term leases	1,054	940	1,340	1,171

$2,337	$2,249	$6,090	$5,903

Question: The company's debt value increases by what amount if the interest rate decreases by 1% in 2019?
Answer: $23,000
14. Fair Value Measures The Company is required to categorize both financial and nonfinancial assets and liabilities based on the following fair value hierarchy. The fair value of an asset is the price at which the asset could be sold in an orderly transaction between unrelated, knowledgeable, and willing parties able to engage in the transaction. A liability’s fair value is defined as the amount that would be paid to transfer the liability to a new obligor in a transaction between such parties, not the amount that would be paid to settle the liability with the creditor. • Level 1 - Quoted prices in active markets for identical assets or liabilities. • Level 2 - Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. • Level 3 - Unobservable inputs for the asset or liability supported by little or no market activity and are significant to the fair value of the assets or liabilities. The disclosure of fair value of certain financial assets and liabilities recorded at cost are as follows: Cash and cash equivalents, accounts receivable, and accounts payable: The carrying amount approximates fair value due to the short maturity of these instruments. Long-term debt: The carrying value of the Company’s long-term debt is at its stated value. We have not elected to carry our long-term debt at fair value. Fair values for debt are based on quoted market prices or published forward interest rate curves, which are level 2 inputs. Estimated fair values are management’s estimates, which is a level 3 input; however, when there is no readily available market data, the estimated fair values may not represent the amounts that could be realized in a current transaction, and the fair values could change significantly. The fair value of the Company’s debt is sensitive to changes in the general level of U.S. interest rates. Under its current policies, the Company does not use interest rate derivative instruments to manage exposure to interest rate changes. A one percent (1%) decrease in interest rates would increase the net fair value of the Company’s debt by $23,000 at June 1, 2019. The fair value and carrying value of the Company’s long-term debt were as follows (in thousands):

June 1, 2019	June 2, 2018

Carrying Value	Fair Value	Carrying Value	Fair Value

Note payable	$1,283	$1,309	$4,750	$4,732

Long-term leases	1,054	940	1,340	1,171

$2,337	$2,249	$6,090	$5,903

Question: What is the disclosure of Cash and cash equivalents, accounts receivable, and accounts payable?
Answer: The carrying amount approximates fair value due to the short maturity of these instruments.
Cash flow Net cash flow from operating activities decreased by $4.8 million to $142.9 million from $147.7 million in the prior period. The small overall decrease was due to a $9.9 million reduction in the cashflow outflow on exceptional items, a $7.0 million improved use of working capital within the business, both being offset by an increase in overheads, primarily in relation to Sales and Marketing expenses. Unlevered free cashflow decreased by $15.8 million to $123.8 million from $139.6 million in the prior-period representing the reduction in net cash flow from operating activities adjusted for the cashflow impact of exceptional items. 1 Restated for the adoption of IFRS 15 and change in accounting policy in respect of research and development expenditure tax credit scheme (“RDEC”) and provision for interest on uncertain tax positions, as explained in note 2 of the Financial Statements 2 Unlevered free cash flow is also represented by the sum of the marked rows and has been presented to enhance understanding of the Group’s cash generation capability 3 Excludes non-cash movements on exceptional items

FY19	FY181

$M	$M

Cash EBITDA2	167.9	199.2

Net deferral of revenue	(49.7)	(129.6)

Net deferral of expenses	0.9	8.4

Foreign exchange	1.5	(8.1)

Depreciation	(11.6)	(11.6)

Adjusted operating profit	109.0	58.3

Net deferral of revenue	49.7	129.6

Net deferral of expenses	(0.9)	(8.4)

Exceptional items 3	(3.1)	(13.0)

Depreciation	11.6	11.6

Foreign exchange	(1.5)	8.1

Change in working capital 2	(5.2)	(12.2)

Corporation tax paid 2	(16.7)	(26.3)

Net cash flow from operating activities	142.9	147.7

Exceptional items 3	3.1	13.0

Net capital expenditure 2	(22.2)	(21.1)

Unlevered free cash flow	123.8	139.6

Question: What was the Net cash flow from operating activities in 2019?
Answer: $142.9 million
Cash flow Net cash flow from operating activities decreased by $4.8 million to $142.9 million from $147.7 million in the prior period. The small overall decrease was due to a $9.9 million reduction in the cashflow outflow on exceptional items, a $7.0 million improved use of working capital within the business, both being offset by an increase in overheads, primarily in relation to Sales and Marketing expenses. Unlevered free cashflow decreased by $15.8 million to $123.8 million from $139.6 million in the prior-period representing the reduction in net cash flow from operating activities adjusted for the cashflow impact of exceptional items. 1 Restated for the adoption of IFRS 15 and change in accounting policy in respect of research and development expenditure tax credit scheme (“RDEC”) and provision for interest on uncertain tax positions, as explained in note 2 of the Financial Statements 2 Unlevered free cash flow is also represented by the sum of the marked rows and has been presented to enhance understanding of the Group’s cash generation capability 3 Excludes non-cash movements on exceptional items

FY19	FY181

$M	$M

Cash EBITDA2	167.9	199.2

Net deferral of revenue	(49.7)	(129.6)

Net deferral of expenses	0.9	8.4

Foreign exchange	1.5	(8.1)

Depreciation	(11.6)	(11.6)

Adjusted operating profit	109.0	58.3

Net deferral of revenue	49.7	129.6

Net deferral of expenses	(0.9)	(8.4)

Exceptional items 3	(3.1)	(13.0)

Depreciation	11.6	11.6

Foreign exchange	(1.5)	8.1

Change in working capital 2	(5.2)	(12.2)

Corporation tax paid 2	(16.7)	(26.3)

Net cash flow from operating activities	142.9	147.7

Exceptional items 3	3.1	13.0

Net capital expenditure 2	(22.2)	(21.1)

Unlevered free cash flow	123.8	139.6

Question: What was the Unlevered free cash flow in 2019?
Answer: $123.8 million
Cash flow Net cash flow from operating activities decreased by $4.8 million to $142.9 million from $147.7 million in the prior period. The small overall decrease was due to a $9.9 million reduction in the cashflow outflow on exceptional items, a $7.0 million improved use of working capital within the business, both being offset by an increase in overheads, primarily in relation to Sales and Marketing expenses. Unlevered free cashflow decreased by $15.8 million to $123.8 million from $139.6 million in the prior-period representing the reduction in net cash flow from operating activities adjusted for the cashflow impact of exceptional items. 1 Restated for the adoption of IFRS 15 and change in accounting policy in respect of research and development expenditure tax credit scheme (“RDEC”) and provision for interest on uncertain tax positions, as explained in note 2 of the Financial Statements 2 Unlevered free cash flow is also represented by the sum of the marked rows and has been presented to enhance understanding of the Group’s cash generation capability 3 Excludes non-cash movements on exceptional items

FY19	FY181

$M	$M

Cash EBITDA2	167.9	199.2

Net deferral of revenue	(49.7)	(129.6)

Net deferral of expenses	0.9	8.4

Foreign exchange	1.5	(8.1)

Depreciation	(11.6)	(11.6)

Adjusted operating profit	109.0	58.3

Net deferral of revenue	49.7	129.6

Net deferral of expenses	(0.9)	(8.4)

Exceptional items 3	(3.1)	(13.0)

Depreciation	11.6	11.6

Foreign exchange	(1.5)	8.1

Change in working capital 2	(5.2)	(12.2)

Corporation tax paid 2	(16.7)	(26.3)

Net cash flow from operating activities	142.9	147.7

Exceptional items 3	3.1	13.0

Net capital expenditure 2	(22.2)	(21.1)

Unlevered free cash flow	123.8	139.6

Question: What components are factored in when calculating the unlevered free cash flow from the net cash flow from operating activities?
Answer: Exceptional items; Net capital expenditure
Cash flow Net cash flow from operating activities decreased by $4.8 million to $142.9 million from $147.7 million in the prior period. The small overall decrease was due to a $9.9 million reduction in the cashflow outflow on exceptional items, a $7.0 million improved use of working capital within the business, both being offset by an increase in overheads, primarily in relation to Sales and Marketing expenses. Unlevered free cashflow decreased by $15.8 million to $123.8 million from $139.6 million in the prior-period representing the reduction in net cash flow from operating activities adjusted for the cashflow impact of exceptional items. 1 Restated for the adoption of IFRS 15 and change in accounting policy in respect of research and development expenditure tax credit scheme (“RDEC”) and provision for interest on uncertain tax positions, as explained in note 2 of the Financial Statements 2 Unlevered free cash flow is also represented by the sum of the marked rows and has been presented to enhance understanding of the Group’s cash generation capability 3 Excludes non-cash movements on exceptional items

FY19	FY181

$M	$M

Cash EBITDA2	167.9	199.2

Net deferral of revenue	(49.7)	(129.6)

Net deferral of expenses	0.9	8.4

Foreign exchange	1.5	(8.1)

Depreciation	(11.6)	(11.6)

Adjusted operating profit	109.0	58.3

Net deferral of revenue	49.7	129.6

Net deferral of expenses	(0.9)	(8.4)

Exceptional items 3	(3.1)	(13.0)

Depreciation	11.6	11.6

Foreign exchange	(1.5)	8.1

Change in working capital 2	(5.2)	(12.2)

Corporation tax paid 2	(16.7)	(26.3)

Net cash flow from operating activities	142.9	147.7

Exceptional items 3	3.1	13.0

Net capital expenditure 2	(22.2)	(21.1)

Unlevered free cash flow	123.8	139.6

Question: In which year was the Net cash flow from operating activities larger?
Answer: FY18