aveni-ai/aveni-bench-tat-qa huggingface dataset:
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (in thousands, except for share and per share data) NOTE 21 — Quarterly Financial Data Quarterly Results of Operations (Unaudited)

First	Second	Third	Fourth

2019

Net sales	$117,625	$120,684	$115,651	$115,040

Gross margin	$40,615	$41,204	$37,057	$38,700

Operating earnings	$14,218	$17,083	$10,124	$12,391

Net earnings	$11,419	$11,943	$2,722	$10,062

Basic earnings per share	$0.35	$0.36	$0.08	$0.31

Diluted earnings per share	$0.34	$0.36	$0.08	$0.31

2018

Net sales	$113,530	$118,021	$118,859	$120,073

Gross margin	$38,433	$41,813	$42,082	$42,645

Operating earnings	$13,359	$14,544	$16,118	$17,017

Net earnings	$ 11,54	$7,209	$10,211	$17,564

Basic earnings per share	$0.35	$0.22	$0.31	$0.53

Diluted earnings per share	$0.34	$0.21	$0.30	$0.52

Question: What were the operating earnings in the fourth quarter?
Answer: 12,391
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (in thousands, except for share and per share data) NOTE 21 — Quarterly Financial Data Quarterly Results of Operations (Unaudited)

First	Second	Third	Fourth

2019

Net sales	$117,625	$120,684	$115,651	$115,040

Gross margin	$40,615	$41,204	$37,057	$38,700

Operating earnings	$14,218	$17,083	$10,124	$12,391

Net earnings	$11,419	$11,943	$2,722	$10,062

Basic earnings per share	$0.35	$0.36	$0.08	$0.31

Diluted earnings per share	$0.34	$0.36	$0.08	$0.31

2018

Net sales	$113,530	$118,021	$118,859	$120,073

Gross margin	$38,433	$41,813	$42,082	$42,645

Operating earnings	$13,359	$14,544	$16,118	$17,017

Net earnings	$ 11,54	$7,209	$10,211	$17,564

Basic earnings per share	$0.35	$0.22	$0.31	$0.53

Diluted earnings per share	$0.34	$0.21	$0.30	$0.52

Question: What was the change in the net sales between the third and fourth quarter?
Answer: -611
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (in thousands, except for share and per share data) NOTE 21 — Quarterly Financial Data Quarterly Results of Operations (Unaudited)

First	Second	Third	Fourth

2019

Net sales	$117,625	$120,684	$115,651	$115,040

Gross margin	$40,615	$41,204	$37,057	$38,700

Operating earnings	$14,218	$17,083	$10,124	$12,391

Net earnings	$11,419	$11,943	$2,722	$10,062

Basic earnings per share	$0.35	$0.36	$0.08	$0.31

Diluted earnings per share	$0.34	$0.36	$0.08	$0.31

2018

Net sales	$113,530	$118,021	$118,859	$120,073

Gross margin	$38,433	$41,813	$42,082	$42,645

Operating earnings	$13,359	$14,544	$16,118	$17,017

Net earnings	$ 11,54	$7,209	$10,211	$17,564

Basic earnings per share	$0.35	$0.22	$0.31	$0.53

Diluted earnings per share	$0.34	$0.21	$0.30	$0.52

Question: How many quarters did the basic earnings per share exceed $0.30?
Answer: 3
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (in thousands, except for share and per share data) NOTE 21 — Quarterly Financial Data Quarterly Results of Operations (Unaudited)

First	Second	Third	Fourth

2019

Net sales	$117,625	$120,684	$115,651	$115,040

Gross margin	$40,615	$41,204	$37,057	$38,700

Operating earnings	$14,218	$17,083	$10,124	$12,391

Net earnings	$11,419	$11,943	$2,722	$10,062

Basic earnings per share	$0.35	$0.36	$0.08	$0.31

Diluted earnings per share	$0.34	$0.36	$0.08	$0.31

2018

Net sales	$113,530	$118,021	$118,859	$120,073

Gross margin	$38,433	$41,813	$42,082	$42,645

Operating earnings	$13,359	$14,544	$16,118	$17,017

Net earnings	$ 11,54	$7,209	$10,211	$17,564

Basic earnings per share	$0.35	$0.22	$0.31	$0.53

Diluted earnings per share	$0.34	$0.21	$0.30	$0.52

Question: What was the percentage change in the operating earnings between the first and second quarter?
Answer: 20.15
(1) Include cost of equipment sold, content and programming costs, payments to other carriers, franchise fees and network costs. (2) Include advertising and marketing expenses, selling costs, billing expenses, bad debts and collection expenses. (3) Include office building expenses, professional service fees, Canadian Radio-television and Telecommunications Commission (“CRTC”) fees, losses and gains on disposals and write-offs of property, plant and equipment and other administrative expenses. 9. OPERATING EXPENSES

Years ended August 31,	2019	2018

(In thousands of Canadian dollars)	$	$

(restated, Note 3)

Salaries, employee benefits and outsourced services	345,041	317,118

Service delivery costs(1)	661,214	615,267

Customer related costs(2)	83,401	68,744

Other external purchases(3)	114,324	120,496

1,203,980	1,121,625

Question: What is included in Service delivery costs?
Answer: Include cost of equipment sold, content and programming costs, payments to other carriers, franchise fees and network costs.
(1) Include cost of equipment sold, content and programming costs, payments to other carriers, franchise fees and network costs. (2) Include advertising and marketing expenses, selling costs, billing expenses, bad debts and collection expenses. (3) Include office building expenses, professional service fees, Canadian Radio-television and Telecommunications Commission (“CRTC”) fees, losses and gains on disposals and write-offs of property, plant and equipment and other administrative expenses. 9. OPERATING EXPENSES

Years ended August 31,	2019	2018

(In thousands of Canadian dollars)	$	$

(restated, Note 3)

Salaries, employee benefits and outsourced services	345,041	317,118

Service delivery costs(1)	661,214	615,267

Customer related costs(2)	83,401	68,744

Other external purchases(3)	114,324	120,496

1,203,980	1,121,625

Question: What is included in Customer related costs?
Answer: Include advertising and marketing expenses, selling costs, billing expenses, bad debts and collection expenses.
(1) Include cost of equipment sold, content and programming costs, payments to other carriers, franchise fees and network costs. (2) Include advertising and marketing expenses, selling costs, billing expenses, bad debts and collection expenses. (3) Include office building expenses, professional service fees, Canadian Radio-television and Telecommunications Commission (“CRTC”) fees, losses and gains on disposals and write-offs of property, plant and equipment and other administrative expenses. 9. OPERATING EXPENSES

Years ended August 31,	2019	2018

(In thousands of Canadian dollars)	$	$

(restated, Note 3)

Salaries, employee benefits and outsourced services	345,041	317,118

Service delivery costs(1)	661,214	615,267

Customer related costs(2)	83,401	68,744

Other external purchases(3)	114,324	120,496

1,203,980	1,121,625

Question: What is included in Other external purchases?
Answer: Include office building expenses, professional service fees, Canadian Radio-television and Telecommunications Commission (“CRTC”) fees, losses and gains on disposals and write-offs of property, plant and equipment and other administrative expenses.
(1) Include cost of equipment sold, content and programming costs, payments to other carriers, franchise fees and network costs. (2) Include advertising and marketing expenses, selling costs, billing expenses, bad debts and collection expenses. (3) Include office building expenses, professional service fees, Canadian Radio-television and Telecommunications Commission (“CRTC”) fees, losses and gains on disposals and write-offs of property, plant and equipment and other administrative expenses. 9. OPERATING EXPENSES

Years ended August 31,	2019	2018

(In thousands of Canadian dollars)	$	$

(restated, Note 3)

Salaries, employee benefits and outsourced services	345,041	317,118

Service delivery costs(1)	661,214	615,267

Customer related costs(2)	83,401	68,744

Other external purchases(3)	114,324	120,496

1,203,980	1,121,625

Question: What is the increase/ (decrease) in Salaries, employee benefits and outsourced services from 2018 to 2019?
Answer: 27923
(1) Include cost of equipment sold, content and programming costs, payments to other carriers, franchise fees and network costs. (2) Include advertising and marketing expenses, selling costs, billing expenses, bad debts and collection expenses. (3) Include office building expenses, professional service fees, Canadian Radio-television and Telecommunications Commission (“CRTC”) fees, losses and gains on disposals and write-offs of property, plant and equipment and other administrative expenses. 9. OPERATING EXPENSES

Years ended August 31,	2019	2018

(In thousands of Canadian dollars)	$	$

(restated, Note 3)

Salaries, employee benefits and outsourced services	345,041	317,118

Service delivery costs(1)	661,214	615,267

Customer related costs(2)	83,401	68,744

Other external purchases(3)	114,324	120,496

1,203,980	1,121,625

Question: What is the increase/ (decrease) in Service delivery costs from 2018 to 2019?
Answer: 45947
(1) Include cost of equipment sold, content and programming costs, payments to other carriers, franchise fees and network costs. (2) Include advertising and marketing expenses, selling costs, billing expenses, bad debts and collection expenses. (3) Include office building expenses, professional service fees, Canadian Radio-television and Telecommunications Commission (“CRTC”) fees, losses and gains on disposals and write-offs of property, plant and equipment and other administrative expenses. 9. OPERATING EXPENSES

Years ended August 31,	2019	2018

(In thousands of Canadian dollars)	$	$

(restated, Note 3)

Salaries, employee benefits and outsourced services	345,041	317,118

Service delivery costs(1)	661,214	615,267

Customer related costs(2)	83,401	68,744

Other external purchases(3)	114,324	120,496

1,203,980	1,121,625

Question: What is the increase/ (decrease) in Customer related costs from 2018 to 2019?
Answer: 14657
The following table shows the fair value of the DB pension plan assets for each category. Equity securities included approximately $15 million of BCE common shares, or 0.06% of total plan assets, at December 31, 2019 and approximately $8 million of BCE common shares, or 0.03% of total plan assets, at December 31, 2018. Debt securities included approximately $53 million of Bell Canada debentures, or 0.21% of total plan assets, at December 31, 2019 and approximately $68 million of Bell Canada debentures, or 0.30% of total plan assets, at December 31, 2018. Alternative investments included an investment in MLSE of $135 million, or 0.53% of total plan assets, at December 31, 2019 and $135 million, or 0.59% of total plan assets, at December 31, 2018. The Bell Canada pension plan has an investment arrangement which hedges part of its exposure to potential increases in longevity, which covers approximately $4 billion of post-employment benefit obligations. The fair value of the arrangement is included within other alternative investments. As a hedging arrangement of the pension plan, the transaction requires no cash contributions from BCE.

FOR THE YEAR ENDED DECEMBER 31	2019	2018

Observable markets data

Equity securities

Canadian	1,017	844

Foreign	4,534	3,770

Debt securities

Canadian	13,216	12,457

Foreign	2,385	2,004

Money market	219	327

Non-observable markets inputs

Alternative investments

Private equities	2,119	1,804

Hedge funds	1,001	1,014

Real estate	948	758

Other	91	93

Total	25,530	23,071

Question: What does the investment arrangement of the Bell Canada pension plan do?
Answer: hedges part of its exposure to potential increases in longevity
The following table shows the fair value of the DB pension plan assets for each category. Equity securities included approximately $15 million of BCE common shares, or 0.06% of total plan assets, at December 31, 2019 and approximately $8 million of BCE common shares, or 0.03% of total plan assets, at December 31, 2018. Debt securities included approximately $53 million of Bell Canada debentures, or 0.21% of total plan assets, at December 31, 2019 and approximately $68 million of Bell Canada debentures, or 0.30% of total plan assets, at December 31, 2018. Alternative investments included an investment in MLSE of $135 million, or 0.53% of total plan assets, at December 31, 2019 and $135 million, or 0.59% of total plan assets, at December 31, 2018. The Bell Canada pension plan has an investment arrangement which hedges part of its exposure to potential increases in longevity, which covers approximately $4 billion of post-employment benefit obligations. The fair value of the arrangement is included within other alternative investments. As a hedging arrangement of the pension plan, the transaction requires no cash contributions from BCE.

FOR THE YEAR ENDED DECEMBER 31	2019	2018

Observable markets data

Equity securities

Canadian	1,017	844

Foreign	4,534	3,770

Debt securities

Canadian	13,216	12,457

Foreign	2,385	2,004

Money market	219	327

Non-observable markets inputs

Alternative investments

Private equities	2,119	1,804

Hedge funds	1,001	1,014

Real estate	948	758

Other	91	93

Total	25,530	23,071

Question: What are the types of securities under observable markets data?
Answer: Equity securities; debt securities
The following table shows the fair value of the DB pension plan assets for each category. Equity securities included approximately $15 million of BCE common shares, or 0.06% of total plan assets, at December 31, 2019 and approximately $8 million of BCE common shares, or 0.03% of total plan assets, at December 31, 2018. Debt securities included approximately $53 million of Bell Canada debentures, or 0.21% of total plan assets, at December 31, 2019 and approximately $68 million of Bell Canada debentures, or 0.30% of total plan assets, at December 31, 2018. Alternative investments included an investment in MLSE of $135 million, or 0.53% of total plan assets, at December 31, 2019 and $135 million, or 0.59% of total plan assets, at December 31, 2018. The Bell Canada pension plan has an investment arrangement which hedges part of its exposure to potential increases in longevity, which covers approximately $4 billion of post-employment benefit obligations. The fair value of the arrangement is included within other alternative investments. As a hedging arrangement of the pension plan, the transaction requires no cash contributions from BCE.

FOR THE YEAR ENDED DECEMBER 31	2019	2018

Observable markets data

Equity securities

Canadian	1,017	844

Foreign	4,534	3,770

Debt securities

Canadian	13,216	12,457

Foreign	2,385	2,004

Money market	219	327

Non-observable markets inputs

Alternative investments

Private equities	2,119	1,804

Hedge funds	1,001	1,014

Real estate	948	758

Other	91	93

Total	25,530	23,071

Question: What are the components under Equity securities?
Answer: Canadian; Foreign
The following table shows the fair value of the DB pension plan assets for each category. Equity securities included approximately $15 million of BCE common shares, or 0.06% of total plan assets, at December 31, 2019 and approximately $8 million of BCE common shares, or 0.03% of total plan assets, at December 31, 2018. Debt securities included approximately $53 million of Bell Canada debentures, or 0.21% of total plan assets, at December 31, 2019 and approximately $68 million of Bell Canada debentures, or 0.30% of total plan assets, at December 31, 2018. Alternative investments included an investment in MLSE of $135 million, or 0.53% of total plan assets, at December 31, 2019 and $135 million, or 0.59% of total plan assets, at December 31, 2018. The Bell Canada pension plan has an investment arrangement which hedges part of its exposure to potential increases in longevity, which covers approximately $4 billion of post-employment benefit obligations. The fair value of the arrangement is included within other alternative investments. As a hedging arrangement of the pension plan, the transaction requires no cash contributions from BCE.

FOR THE YEAR ENDED DECEMBER 31	2019	2018

Observable markets data

Equity securities

Canadian	1,017	844

Foreign	4,534	3,770

Debt securities

Canadian	13,216	12,457

Foreign	2,385	2,004

Money market	219	327

Non-observable markets inputs

Alternative investments

Private equities	2,119	1,804

Hedge funds	1,001	1,014

Real estate	948	758

Other	91	93

Total	25,530	23,071

Question: How many components are there under alternative investments?
Answer: 4
The following table shows the fair value of the DB pension plan assets for each category. Equity securities included approximately $15 million of BCE common shares, or 0.06% of total plan assets, at December 31, 2019 and approximately $8 million of BCE common shares, or 0.03% of total plan assets, at December 31, 2018. Debt securities included approximately $53 million of Bell Canada debentures, or 0.21% of total plan assets, at December 31, 2019 and approximately $68 million of Bell Canada debentures, or 0.30% of total plan assets, at December 31, 2018. Alternative investments included an investment in MLSE of $135 million, or 0.53% of total plan assets, at December 31, 2019 and $135 million, or 0.59% of total plan assets, at December 31, 2018. The Bell Canada pension plan has an investment arrangement which hedges part of its exposure to potential increases in longevity, which covers approximately $4 billion of post-employment benefit obligations. The fair value of the arrangement is included within other alternative investments. As a hedging arrangement of the pension plan, the transaction requires no cash contributions from BCE.

FOR THE YEAR ENDED DECEMBER 31	2019	2018

Observable markets data

Equity securities

Canadian	1,017	844

Foreign	4,534	3,770

Debt securities

Canadian	13,216	12,457

Foreign	2,385	2,004

Money market	219	327

Non-observable markets inputs

Alternative investments

Private equities	2,119	1,804

Hedge funds	1,001	1,014

Real estate	948	758

Other	91	93

Total	25,530	23,071

Question: What is the average Bell Canada debentures for 2018 and 2019?
Answer: 60.5
The following table shows the fair value of the DB pension plan assets for each category. Equity securities included approximately $15 million of BCE common shares, or 0.06% of total plan assets, at December 31, 2019 and approximately $8 million of BCE common shares, or 0.03% of total plan assets, at December 31, 2018. Debt securities included approximately $53 million of Bell Canada debentures, or 0.21% of total plan assets, at December 31, 2019 and approximately $68 million of Bell Canada debentures, or 0.30% of total plan assets, at December 31, 2018. Alternative investments included an investment in MLSE of $135 million, or 0.53% of total plan assets, at December 31, 2019 and $135 million, or 0.59% of total plan assets, at December 31, 2018. The Bell Canada pension plan has an investment arrangement which hedges part of its exposure to potential increases in longevity, which covers approximately $4 billion of post-employment benefit obligations. The fair value of the arrangement is included within other alternative investments. As a hedging arrangement of the pension plan, the transaction requires no cash contributions from BCE.

FOR THE YEAR ENDED DECEMBER 31	2019	2018

Observable markets data

Equity securities

Canadian	1,017	844

Foreign	4,534	3,770

Debt securities

Canadian	13,216	12,457

Foreign	2,385	2,004

Money market	219	327

Non-observable markets inputs

Alternative investments

Private equities	2,119	1,804

Hedge funds	1,001	1,014

Real estate	948	758

Other	91	93

Total	25,530	23,071

Question: What is the percentage change in the fair value for real estate in 2019?
Answer: 25.07
Significant components of the Company’s deferred tax assets and liabilities are outlined below. The increase in the Company's deferred tax liability is primarily attributable to the Company's decision to take bonus depreciation on qualifying assets placed in service during fiscal 2019. Included in the deferred tax assets at October 31, 2019, is a federal NOL carryforward of $255.4 million. All of the NOL carryforward was incurred subsequent to the enactment of the TCJA and therefore has an indefinite carryforward period. The Company has significant deferred tax liabilities, primarily related to property, plant and equipment, which are expected to reverse and allow for the full utilization of the NOL carryforward. As such, the Company has not recorded a valuation allowance related to the NOL carryforward. Also included in the deferred tax assets are North Carolina Investing in Business Property Credit and North Carolina Jobs Credits totaling $4.9 million, as well as Georgia Job Tax Credits totaling $2.6 million. The North Carolina Investing in Business Property Credit provides a 7% investment tax credit for property located in a North Carolina development area, the North Carolina Creating Jobs Credit provides a tax credit for increased employment in North Carolina, and the Georgia Job Tax Credit provides a tax credit for creation and retention of qualifying jobs in Georgia. It is management’s opinion that the majority of the North Carolina and Georgia income tax credits will not be utilized before they expire, and a $5.6 million valuation allowance has been recorded as of October 31, 2019. The North Carolina credits began to expire during fiscal 2018, and the remaining credits expire between fiscal years 2020 and 2023.

October 31,

2019	2018

(In thousands)

Deferred tax liabilities:

Property, plant and equipment	$148,505	$88,351

Prepaid and other assets	1,911	1,751

Total deferred tax liabilities	150,416	90,102

Deferred tax assets:

Accrued expenses and accounts receivable	8,172	7,814

Inventory	1,155	2,862

Compensation on restricted stock	7,528	8,280

State income tax credits	9,333	12,235

Other	1,272	654

Valuation allowance	(5,637)	(11,017)

Net operating loss	54,461	6,481

Total deferred tax assets	76,284	27,309

Net deferred tax liabilities	$74,132	$62,793

Question: What is the primary reason for the increase in the Company's deferred tax liability?
Answer: the Company's decision to take bonus depreciation on qualifying assets placed in service during fiscal 2019.
Significant components of the Company’s deferred tax assets and liabilities are outlined below. The increase in the Company's deferred tax liability is primarily attributable to the Company's decision to take bonus depreciation on qualifying assets placed in service during fiscal 2019. Included in the deferred tax assets at October 31, 2019, is a federal NOL carryforward of $255.4 million. All of the NOL carryforward was incurred subsequent to the enactment of the TCJA and therefore has an indefinite carryforward period. The Company has significant deferred tax liabilities, primarily related to property, plant and equipment, which are expected to reverse and allow for the full utilization of the NOL carryforward. As such, the Company has not recorded a valuation allowance related to the NOL carryforward. Also included in the deferred tax assets are North Carolina Investing in Business Property Credit and North Carolina Jobs Credits totaling $4.9 million, as well as Georgia Job Tax Credits totaling $2.6 million. The North Carolina Investing in Business Property Credit provides a 7% investment tax credit for property located in a North Carolina development area, the North Carolina Creating Jobs Credit provides a tax credit for increased employment in North Carolina, and the Georgia Job Tax Credit provides a tax credit for creation and retention of qualifying jobs in Georgia. It is management’s opinion that the majority of the North Carolina and Georgia income tax credits will not be utilized before they expire, and a $5.6 million valuation allowance has been recorded as of October 31, 2019. The North Carolina credits began to expire during fiscal 2018, and the remaining credits expire between fiscal years 2020 and 2023.

October 31,

2019	2018

(In thousands)

Deferred tax liabilities:

Property, plant and equipment	$148,505	$88,351

Prepaid and other assets	1,911	1,751

Total deferred tax liabilities	150,416	90,102

Deferred tax assets:

Accrued expenses and accounts receivable	8,172	7,814

Inventory	1,155	2,862

Compensation on restricted stock	7,528	8,280

State income tax credits	9,333	12,235

Other	1,272	654

Valuation allowance	(5,637)	(11,017)

Net operating loss	54,461	6,481

Total deferred tax assets	76,284	27,309

Net deferred tax liabilities	$74,132	$62,793

Question: What is the Property, plant and equipment for fiscal years 2019 and 2018 respectively?
Answer: $148,505; $88,351