aveni-ai/aveni-bench-tat-qa huggingface dataset:
8. Stock option and award plan: (Continued) The accounting for equity-based compensation expense requires the Company to make estimates and judgments that affect its financial statements. These estimates for stock options include the following. Expected Dividend Yield—The Company uses an expected dividend yield based upon expected annual dividends and the Company’s stock price. Expected Volatility—The Company uses its historical volatility for a period commensurate with the expected term of the option. Risk-Free Interest Rate—The Company uses the zero coupon US Treasury rate during the quarter having a term that most closely resembles the expected term of the option. Expected Term of the Option—The Company estimates the expected life of the option term by analyzing historical stock option exercises. Forfeiture Rates—The Company estimates its forfeiture rate based on historical data with further consideration given to the class of employees to whom the options or shares were granted. The weighted-average per share grant date fair value of options was $8.92 in 2019, $8.45 in 2018 and $7.06 in 2017. The following assumptions were used for determining the fair value of options granted in the three years ended December 31, 2019:

Years Ended December 31

Black-Scholes Assumptions	2019	2018	2017

Dividend yield	4.5%	4.6%	4.1%

Expected volatility	28.3%	28.7%	27.1%

Risk-free interest rate	2.5%	2.5%	2.0%

Expected life of the option term (in years)	4.3	4.4	4.5

Question: What are the respective expected volatility in 2017 and 2018?
Answer: 27.1%; 28.7%
8. Stock option and award plan: (Continued) The accounting for equity-based compensation expense requires the Company to make estimates and judgments that affect its financial statements. These estimates for stock options include the following. Expected Dividend Yield—The Company uses an expected dividend yield based upon expected annual dividends and the Company’s stock price. Expected Volatility—The Company uses its historical volatility for a period commensurate with the expected term of the option. Risk-Free Interest Rate—The Company uses the zero coupon US Treasury rate during the quarter having a term that most closely resembles the expected term of the option. Expected Term of the Option—The Company estimates the expected life of the option term by analyzing historical stock option exercises. Forfeiture Rates—The Company estimates its forfeiture rate based on historical data with further consideration given to the class of employees to whom the options or shares were granted. The weighted-average per share grant date fair value of options was $8.92 in 2019, $8.45 in 2018 and $7.06 in 2017. The following assumptions were used for determining the fair value of options granted in the three years ended December 31, 2019:

Years Ended December 31

Black-Scholes Assumptions	2019	2018	2017

Dividend yield	4.5%	4.6%	4.1%

Expected volatility	28.3%	28.7%	27.1%

Risk-free interest rate	2.5%	2.5%	2.0%

Expected life of the option term (in years)	4.3	4.4	4.5

Question: What is the average dividend yield in 2017 and 2018?
Answer: 4.35
8. Stock option and award plan: (Continued) The accounting for equity-based compensation expense requires the Company to make estimates and judgments that affect its financial statements. These estimates for stock options include the following. Expected Dividend Yield—The Company uses an expected dividend yield based upon expected annual dividends and the Company’s stock price. Expected Volatility—The Company uses its historical volatility for a period commensurate with the expected term of the option. Risk-Free Interest Rate—The Company uses the zero coupon US Treasury rate during the quarter having a term that most closely resembles the expected term of the option. Expected Term of the Option—The Company estimates the expected life of the option term by analyzing historical stock option exercises. Forfeiture Rates—The Company estimates its forfeiture rate based on historical data with further consideration given to the class of employees to whom the options or shares were granted. The weighted-average per share grant date fair value of options was $8.92 in 2019, $8.45 in 2018 and $7.06 in 2017. The following assumptions were used for determining the fair value of options granted in the three years ended December 31, 2019:

Years Ended December 31

Black-Scholes Assumptions	2019	2018	2017

Dividend yield	4.5%	4.6%	4.1%

Expected volatility	28.3%	28.7%	27.1%

Risk-free interest rate	2.5%	2.5%	2.0%

Expected life of the option term (in years)	4.3	4.4	4.5

Question: What is the average dividend yield in 2018 and 2019?
Answer: 4.55
8. Stock option and award plan: (Continued) The accounting for equity-based compensation expense requires the Company to make estimates and judgments that affect its financial statements. These estimates for stock options include the following. Expected Dividend Yield—The Company uses an expected dividend yield based upon expected annual dividends and the Company’s stock price. Expected Volatility—The Company uses its historical volatility for a period commensurate with the expected term of the option. Risk-Free Interest Rate—The Company uses the zero coupon US Treasury rate during the quarter having a term that most closely resembles the expected term of the option. Expected Term of the Option—The Company estimates the expected life of the option term by analyzing historical stock option exercises. Forfeiture Rates—The Company estimates its forfeiture rate based on historical data with further consideration given to the class of employees to whom the options or shares were granted. The weighted-average per share grant date fair value of options was $8.92 in 2019, $8.45 in 2018 and $7.06 in 2017. The following assumptions were used for determining the fair value of options granted in the three years ended December 31, 2019:

Years Ended December 31

Black-Scholes Assumptions	2019	2018	2017

Dividend yield	4.5%	4.6%	4.1%

Expected volatility	28.3%	28.7%	27.1%

Risk-free interest rate	2.5%	2.5%	2.0%

Expected life of the option term (in years)	4.3	4.4	4.5

Question: What is the average expected volatility in 2017 and 2018?
Answer: 27.9
2 Alternative performance measures continued Net debt to earnings before interest, tax, depreciation and amortisation (EBITDA) To assess the size of the net debt balance relative to the size of the earnings for the Group, we analyse net debt as a proportion of EBITDA. EBITDA is calculated by adding back depreciation and amortisation of owned property, plant and equipment, software and development to adjusted operating profit. Net debt excludes IFRS 16 lease liabilities. The net debt to EBITDA ratio is calculated as follows: The components of net debt are disclosed in Note 24.

2019	2018

£m	£m

Adjusted operating profit	282.7	264.9

Depreciation and amortisation of property, plant and equipment, software and development	34.3	32.9

Earnings before interest, tax, depreciation and amortisation	317.0	297.8

Net debt	295.2	235.8

Net debt to EBITDA	0.9	0.8

Question: Why is net debt analysed as a proportion of EBITDA?
Answer: To assess the size of the net debt balance relative to the size of the earnings for the Group
2 Alternative performance measures continued Net debt to earnings before interest, tax, depreciation and amortisation (EBITDA) To assess the size of the net debt balance relative to the size of the earnings for the Group, we analyse net debt as a proportion of EBITDA. EBITDA is calculated by adding back depreciation and amortisation of owned property, plant and equipment, software and development to adjusted operating profit. Net debt excludes IFRS 16 lease liabilities. The net debt to EBITDA ratio is calculated as follows: The components of net debt are disclosed in Note 24.

2019	2018

£m	£m

Adjusted operating profit	282.7	264.9

Depreciation and amortisation of property, plant and equipment, software and development	34.3	32.9

Earnings before interest, tax, depreciation and amortisation	317.0	297.8

Net debt	295.2	235.8

Net debt to EBITDA	0.9	0.8

Question: How is EBITDA calculated?
Answer: by adding back depreciation and amortisation of owned property, plant and equipment, software and development to adjusted operating profit
2 Alternative performance measures continued Net debt to earnings before interest, tax, depreciation and amortisation (EBITDA) To assess the size of the net debt balance relative to the size of the earnings for the Group, we analyse net debt as a proportion of EBITDA. EBITDA is calculated by adding back depreciation and amortisation of owned property, plant and equipment, software and development to adjusted operating profit. Net debt excludes IFRS 16 lease liabilities. The net debt to EBITDA ratio is calculated as follows: The components of net debt are disclosed in Note 24.

2019	2018

£m	£m

Adjusted operating profit	282.7	264.9

Depreciation and amortisation of property, plant and equipment, software and development	34.3	32.9

Earnings before interest, tax, depreciation and amortisation	317.0	297.8

Net debt	295.2	235.8

Net debt to EBITDA	0.9	0.8

Question: What are the components considered when calculating the Net debt to EBITDA ratio?
Answer: Earnings before interest, tax, depreciation and amortisation; Net debt
2 Alternative performance measures continued Net debt to earnings before interest, tax, depreciation and amortisation (EBITDA) To assess the size of the net debt balance relative to the size of the earnings for the Group, we analyse net debt as a proportion of EBITDA. EBITDA is calculated by adding back depreciation and amortisation of owned property, plant and equipment, software and development to adjusted operating profit. Net debt excludes IFRS 16 lease liabilities. The net debt to EBITDA ratio is calculated as follows: The components of net debt are disclosed in Note 24.

2019	2018

£m	£m

Adjusted operating profit	282.7	264.9

Depreciation and amortisation of property, plant and equipment, software and development	34.3	32.9

Earnings before interest, tax, depreciation and amortisation	317.0	297.8

Net debt	295.2	235.8

Net debt to EBITDA	0.9	0.8

Question: In which year was the net debt to EBITDA ratio larger?
Answer: 2019
2 Alternative performance measures continued Net debt to earnings before interest, tax, depreciation and amortisation (EBITDA) To assess the size of the net debt balance relative to the size of the earnings for the Group, we analyse net debt as a proportion of EBITDA. EBITDA is calculated by adding back depreciation and amortisation of owned property, plant and equipment, software and development to adjusted operating profit. Net debt excludes IFRS 16 lease liabilities. The net debt to EBITDA ratio is calculated as follows: The components of net debt are disclosed in Note 24.

2019	2018

£m	£m

Adjusted operating profit	282.7	264.9

Depreciation and amortisation of property, plant and equipment, software and development	34.3	32.9

Earnings before interest, tax, depreciation and amortisation	317.0	297.8

Net debt	295.2	235.8

Net debt to EBITDA	0.9	0.8

Question: What was the change in net debt from 2018 to 2019?
Answer: 59.4
2 Alternative performance measures continued Net debt to earnings before interest, tax, depreciation and amortisation (EBITDA) To assess the size of the net debt balance relative to the size of the earnings for the Group, we analyse net debt as a proportion of EBITDA. EBITDA is calculated by adding back depreciation and amortisation of owned property, plant and equipment, software and development to adjusted operating profit. Net debt excludes IFRS 16 lease liabilities. The net debt to EBITDA ratio is calculated as follows: The components of net debt are disclosed in Note 24.

2019	2018

£m	£m

Adjusted operating profit	282.7	264.9

Depreciation and amortisation of property, plant and equipment, software and development	34.3	32.9

Earnings before interest, tax, depreciation and amortisation	317.0	297.8

Net debt	295.2	235.8

Net debt to EBITDA	0.9	0.8

Question: What was the percentage change in net debt from 2018 to 2019?
Answer: 25.19
The Company’s top ten clients accounted for 42.2%, 44.2% and 46.9% of its consolidated revenues during the years ended December 31, 2019, 2018 and 2017, respectively. The following table represents a disaggregation of revenue from contracts with customers by delivery location (in thousands):

Years Ended December 31,

2019	2018	2017

Americas:

United States	$614,493	$668,580	$644,870

The Philippines	250,888	231,966	241,211

Costa Rica	127,078	127,963	132,542

Canada	99,037	102,353	112,367

El Salvador	81,195	81,156	75,800

Other	123,969	118,620	118,853

Total Americas	1,296,660	1,330,638	1,325,643

EMEA:

Germany	94,166	91,703	81,634

Other	223,847	203,251	178,649

Total EMEA	318,013	294,954	260,283

Total Other	89	95	82

$1,614,762	$1,625,687	$1,586,008

Question: What was the  Total Americas  amount in 2019?
Answer: 1,296,660
The Company’s top ten clients accounted for 42.2%, 44.2% and 46.9% of its consolidated revenues during the years ended December 31, 2019, 2018 and 2017, respectively. The following table represents a disaggregation of revenue from contracts with customers by delivery location (in thousands):

Years Ended December 31,

2019	2018	2017

Americas:

United States	$614,493	$668,580	$644,870

The Philippines	250,888	231,966	241,211

Costa Rica	127,078	127,963	132,542

Canada	99,037	102,353	112,367

El Salvador	81,195	81,156	75,800

Other	123,969	118,620	118,853

Total Americas	1,296,660	1,330,638	1,325,643

EMEA:

Germany	94,166	91,703	81,634

Other	223,847	203,251	178,649

Total EMEA	318,013	294,954	260,283

Total Other	89	95	82

$1,614,762	$1,625,687	$1,586,008

Question: What was the Total EMEA amount in 2018?
Answer: 294,954
The Company’s top ten clients accounted for 42.2%, 44.2% and 46.9% of its consolidated revenues during the years ended December 31, 2019, 2018 and 2017, respectively. The following table represents a disaggregation of revenue from contracts with customers by delivery location (in thousands):

Years Ended December 31,

2019	2018	2017

Americas:

United States	$614,493	$668,580	$644,870

The Philippines	250,888	231,966	241,211

Costa Rica	127,078	127,963	132,542

Canada	99,037	102,353	112,367

El Salvador	81,195	81,156	75,800

Other	123,969	118,620	118,853

Total Americas	1,296,660	1,330,638	1,325,643

EMEA:

Germany	94,166	91,703	81,634

Other	223,847	203,251	178,649

Total EMEA	318,013	294,954	260,283

Total Other	89	95	82

$1,614,762	$1,625,687	$1,586,008

Question: In which years is the disaggregation of revenue from contracts with customers by delivery location provided?
Answer: 2019; 2018; 2017
The Company’s top ten clients accounted for 42.2%, 44.2% and 46.9% of its consolidated revenues during the years ended December 31, 2019, 2018 and 2017, respectively. The following table represents a disaggregation of revenue from contracts with customers by delivery location (in thousands):

Years Ended December 31,

2019	2018	2017

Americas:

United States	$614,493	$668,580	$644,870

The Philippines	250,888	231,966	241,211

Costa Rica	127,078	127,963	132,542

Canada	99,037	102,353	112,367

El Salvador	81,195	81,156	75,800

Other	123,969	118,620	118,853

Total Americas	1,296,660	1,330,638	1,325,643

EMEA:

Germany	94,166	91,703	81,634

Other	223,847	203,251	178,649

Total EMEA	318,013	294,954	260,283

Total Other	89	95	82

$1,614,762	$1,625,687	$1,586,008

Question: In which year was Total Other largest?
Answer: 2018
The Company’s top ten clients accounted for 42.2%, 44.2% and 46.9% of its consolidated revenues during the years ended December 31, 2019, 2018 and 2017, respectively. The following table represents a disaggregation of revenue from contracts with customers by delivery location (in thousands):

Years Ended December 31,

2019	2018	2017

Americas:

United States	$614,493	$668,580	$644,870

The Philippines	250,888	231,966	241,211

Costa Rica	127,078	127,963	132,542

Canada	99,037	102,353	112,367

El Salvador	81,195	81,156	75,800

Other	123,969	118,620	118,853

Total Americas	1,296,660	1,330,638	1,325,643

EMEA:

Germany	94,166	91,703	81,634

Other	223,847	203,251	178,649

Total EMEA	318,013	294,954	260,283

Total Other	89	95	82

$1,614,762	$1,625,687	$1,586,008

Question: What was the change in Total Other in 2018 from 2017?
Answer: 13
The Company’s top ten clients accounted for 42.2%, 44.2% and 46.9% of its consolidated revenues during the years ended December 31, 2019, 2018 and 2017, respectively. The following table represents a disaggregation of revenue from contracts with customers by delivery location (in thousands):

Years Ended December 31,

2019	2018	2017

Americas:

United States	$614,493	$668,580	$644,870

The Philippines	250,888	231,966	241,211

Costa Rica	127,078	127,963	132,542

Canada	99,037	102,353	112,367

El Salvador	81,195	81,156	75,800

Other	123,969	118,620	118,853

Total Americas	1,296,660	1,330,638	1,325,643

EMEA:

Germany	94,166	91,703	81,634

Other	223,847	203,251	178,649

Total EMEA	318,013	294,954	260,283

Total Other	89	95	82

$1,614,762	$1,625,687	$1,586,008

Question: What was the percentage change in Total Other in 2018 from 2017?
Answer: 15.85
Global Financing Receivables and Allowances The following table presents external Global Financing receivables excluding residual values, the allowance for credit losses and immaterial miscellaneous receivables: (1) Includes deferred initial direct costs which are eliminated in IBM’s consolidated results. The percentage of Global Financing receivables reserved was 1.0 percent at December 31, 2019, compared to 0.9 percent at December 31, 2018. The decline in the allowance for credit losses was driven by write-offs of $64 million, primarily of receivables previously reserved, and net releases of $7 million as a result of lower average asset balances in client and commercial financing. See note K, “Financing Receivables,” for additional information.

($ in millions)

At December 31:	2019	2018

Recorded investment (1)	$22,446	$31,182

Specific allowance for credit losses	177	220

Unallocated allowance for credit losses	45	72

Total allowance for credit losses	221	292

Net financing receivables	$22,224	$30,890

Question: What does the recorded investment include?
Answer: Includes deferred initial direct costs which are eliminated in IBM’s consolidated results.
Global Financing Receivables and Allowances The following table presents external Global Financing receivables excluding residual values, the allowance for credit losses and immaterial miscellaneous receivables: (1) Includes deferred initial direct costs which are eliminated in IBM’s consolidated results. The percentage of Global Financing receivables reserved was 1.0 percent at December 31, 2019, compared to 0.9 percent at December 31, 2018. The decline in the allowance for credit losses was driven by write-offs of $64 million, primarily of receivables previously reserved, and net releases of $7 million as a result of lower average asset balances in client and commercial financing. See note K, “Financing Receivables,” for additional information.

($ in millions)

At December 31:	2019	2018

Recorded investment (1)	$22,446	$31,182

Specific allowance for credit losses	177	220

Unallocated allowance for credit losses	45	72

Total allowance for credit losses	221	292

Net financing receivables	$22,224	$30,890

Question: What was the decline in the global financing receivables?
Answer: driven by write-offs of $64 million, primarily of receivables previously reserved, and net releases of $7 million as a result of lower average asset balances in client and commercial financing. See note K, “Financing Receivables,” for additional information.
Global Financing Receivables and Allowances The following table presents external Global Financing receivables excluding residual values, the allowance for credit losses and immaterial miscellaneous receivables: (1) Includes deferred initial direct costs which are eliminated in IBM’s consolidated results. The percentage of Global Financing receivables reserved was 1.0 percent at December 31, 2019, compared to 0.9 percent at December 31, 2018. The decline in the allowance for credit losses was driven by write-offs of $64 million, primarily of receivables previously reserved, and net releases of $7 million as a result of lower average asset balances in client and commercial financing. See note K, “Financing Receivables,” for additional information.

($ in millions)

At December 31:	2019	2018

Recorded investment (1)	$22,446	$31,182

Specific allowance for credit losses	177	220

Unallocated allowance for credit losses	45	72

Total allowance for credit losses	221	292

Net financing receivables	$22,224	$30,890

Question: What is the total allowance for credit losses in 2019?
Answer: 221
Global Financing Receivables and Allowances The following table presents external Global Financing receivables excluding residual values, the allowance for credit losses and immaterial miscellaneous receivables: (1) Includes deferred initial direct costs which are eliminated in IBM’s consolidated results. The percentage of Global Financing receivables reserved was 1.0 percent at December 31, 2019, compared to 0.9 percent at December 31, 2018. The decline in the allowance for credit losses was driven by write-offs of $64 million, primarily of receivables previously reserved, and net releases of $7 million as a result of lower average asset balances in client and commercial financing. See note K, “Financing Receivables,” for additional information.

($ in millions)

At December 31:	2019	2018

Recorded investment (1)	$22,446	$31,182

Specific allowance for credit losses	177	220

Unallocated allowance for credit losses	45	72

Total allowance for credit losses	221	292

Net financing receivables	$22,224	$30,890

Question: What is the increase / (decrease) in the recorded investment from 2018 to 2019?
Answer: -8736
Global Financing Receivables and Allowances The following table presents external Global Financing receivables excluding residual values, the allowance for credit losses and immaterial miscellaneous receivables: (1) Includes deferred initial direct costs which are eliminated in IBM’s consolidated results. The percentage of Global Financing receivables reserved was 1.0 percent at December 31, 2019, compared to 0.9 percent at December 31, 2018. The decline in the allowance for credit losses was driven by write-offs of $64 million, primarily of receivables previously reserved, and net releases of $7 million as a result of lower average asset balances in client and commercial financing. See note K, “Financing Receivables,” for additional information.

($ in millions)

At December 31:	2019	2018

Recorded investment (1)	$22,446	$31,182

Specific allowance for credit losses	177	220

Unallocated allowance for credit losses	45	72

Total allowance for credit losses	221	292

Net financing receivables	$22,224	$30,890

Question: What is the average Specific allowance for credit losses?
Answer: 198.5
Global Financing Receivables and Allowances The following table presents external Global Financing receivables excluding residual values, the allowance for credit losses and immaterial miscellaneous receivables: (1) Includes deferred initial direct costs which are eliminated in IBM’s consolidated results. The percentage of Global Financing receivables reserved was 1.0 percent at December 31, 2019, compared to 0.9 percent at December 31, 2018. The decline in the allowance for credit losses was driven by write-offs of $64 million, primarily of receivables previously reserved, and net releases of $7 million as a result of lower average asset balances in client and commercial financing. See note K, “Financing Receivables,” for additional information.

($ in millions)

At December 31:	2019	2018

Recorded investment (1)	$22,446	$31,182

Specific allowance for credit losses	177	220

Unallocated allowance for credit losses	45	72

Total allowance for credit losses	221	292

Net financing receivables	$22,224	$30,890

Question: What is the percentage increase / (decrease) in the Net financing receivables from 2018 to 2019?
Answer: -28.05