feyninc/tacha huggingface dataset:
## Table

|  | 2019 | 2018 | 2019 | 2018 |
|---|---|---|---|---|
| At December 31, |  |  | Change in benefit obligation: | Change in benefit obligation: |
| Benefit obligation at beginning of year | $44,015 | $48,500 | $3,401 | $4,548 |
| Cost of benefits earned (service cost) | — | — | 105 | 119 |
| Interest cost on benefit obligation | 1,802 | 1,673 | 140 | 142 |
| Actuarial losses/(gains) | 3,805 | (3,456) | 84 | (1,206) |
| Benefits paid | (2,686) | (2,702) | (158) | (202) |
| Benefit obligation at year end | 46,936 | 44,015 | 3,572 | 3,401 |
| Change in plan assets: |  |  |  |  |
| Fair value of plan assets at beginning of year | 31,929 | 35,591 | — | — |
| Actual return on plan assets | 6,790 | (1,882) | — | — |
| Employer contributions | 721 | 922 | 158 | 202 |
| Benefits paid | (2,686) | (2,702) | (158) | (202) |
| Fair value of plan assets at year end | 36,754 | 31,929 | — | — |
| Unfunded status at December 31 | $(10,182) | $(12,086) | $(3,572) | $(3,401) |



## Text

Postretirement Benefit Plans


The Company also provides certain postretirement health care and life insurance benefits to qualifying domestic retirees and their eligible dependents. The health care plan for shore-based employees and their dependents and seagoing licensed deck officers (“Deck Officers”) and their dependents is contributory at retirement, while the life insurance plan for all employees is noncontributory.


In general, postretirement medical coverage is provided to shore-based employees hired prior to January 1, 2005 and all Deck Officers who retire and have met minimum age and service requirements under a formula related to total years of service. The Company no longer provides prescription drug coverage to its retirees or their beneficiaries once they reach age 65.


The Company does not currently fund these benefit arrangements and has the right to amend or terminate the health care and life insurance benefits at any time.


Information with respect to the domestic pension and postretirement benefit plans for which the Company uses a December 31 measurement date, follow:
## Table

| (In millions, except per share amounts) |  |  |  |  |  |
|---|---|---|---|---|---|
| Year Ended June 30, | 2019 (a) | 2018 | 2017 (d)(e) | 2016 (d) | 2015 |
| Revenue | $ 125,843 | $ 110,360 | $ 96,571 | $ 91,154 | $ 93,580 |
| Gross margin | 82,933 | 72,007 | 62,310 | 58,374 | 60,542 |
| Operating income | 42,959 | 35,058 | 29,025 (f) | 26,078 (g) | 18,161(h) |
| Net income | 39,240(b) | 16,571(c) | 25,489 (f) | 20,539 (g) | 12,193(h) |
| Diluted earnings per share | 5.06 (b) | 2.13(c) | 3.25 (f) | 2.56 (g) | 1.48(h) |
| Cash dividends declared per share | 1.84 | 1.68 | 1.56 | 1.44 | 1.24 |
| Cash, cash equivalents, and short-term |  |  |  |  |  |
| investments | 133,819 | 133,768 | 132,981 | 113,240 | 96,526 |
| Total assets | 286,556 | 258,848 | 250,312 | 202,897 | 174,303 |
| Long-term obligations | 114,806 | 117,642 | 106,856 | 66,705 | 44,574 |
| Stockholders’ equity | 102,330 | 82,718 | 87,711 | 83,090 | 80,083 |



## Text

(a) GitHub has been included in our consolidated results of operations starting on the October 25, 2018 acquisition date.


(b) Includes a $2.6 billion net income tax benefit related to intangible property transfers and a $157 million net charge related to the enactment of the Tax Cuts and Jobs Act (“TCJA”), which together increased net income and diluted earnings per share (“EPS”) by $2.4 billion and $0.31, respectively. Refer to Note 12 – Income Taxes of the Notes to Financial Statements for further discussion.


(c) Includes a $13.7 billion net charge related to the enactment of the TCJA, which decreased net income and diluted EPS by $13.7 billion and $1.75, respectively. Refer to Note 12 – Income Taxes of the Notes to Financial Statements for further discussion.


(d) Reflects the impact of the adoption of new accounting standards in fiscal year 2018 related to revenue recognition and leases.


(e) LinkedIn has been included in our consolidated results of operations starting on the December 8, 2016 acquisition date.


(f) Includes $306 million of employee severance expenses primarily related to our sales and marketing restructuring plan, which decreased operating income, net income, and diluted EPS by $306 million, $243 million, and $0.04, respectively.


(g) Includes $630 million of asset impairment charges related to our Phone business and $480 million of restructuring charges associated with our Phone business restructuring plans, which together decreased operating income, net income, and diluted EPS by $1.1 billion, $895 million, and $0.11, respectively.


(h) Includes $7.5 billion of goodwill and asset impairment charges related to our Phone business and $2.5 billion of integration and restructuring expenses, primarily associated with our Phone business restructuring plans, which together decreased operating income, net income, and diluted EPS by $10.0 billion, $9.5 billion, and $1.15, respectively.
## Table

|  |  | Fiscal Year Ended August 31, |  |
|---|---|---|---|
|  | 2019 | 2018 | 2017 |
| Current: |  |  |  |
| Domestic–federal | $(23,675) | $69,080 | $2,436 |
| Domestic–state | 1,383 | 134 | 12 |
| Foreign | 175,993 | 178,790 | 188,872 |
| Total current | 153,701 | 248,004 | 191,320 |
| Deferred: |  |  |  |
| Domestic–federal | (8,000) | (24,342) | 253 |
| Domestic–state | (2,202) | 93 | 30 |
| Foreign | 17,731 | 62,105 | (62,537) |
| Total deferred | 7,529 | 37,856 | (62,254) |
| Total income tax expense | $161,230 | $285,860 | $129,066 |



## Text

4. Income Taxes


Provision for Income Taxes


Income tax expense (benefit) is summarized below (in thousands):
## Table

| December 31, 2019 | Gross Cost | Accumulated Depreciation | Net Cost |
|---|---|---|---|
| Land | 78 | — | 78 |
| Buildings | 905 | (505) | 400 |
| Facilities & leasehold improvements | 3,193 | (2,762) | 431 |
| Machinery and equipment | 15,336 | (12,790) | 2,546 |
| Computer and R&D equipment | 382 | (335) | 47 |
| Operating lease right-of-use assets | 266 | (60) | 206 |
| Other tangible assets | 110 | (93) | 17 |
| Construction in progress | 282 | — | 282 |
| Total | 20,552 | (16,545) | 4,007 |
| December 31, 2018 | Gross Cost | Accumulated Depreciation | Net Cost |
| Land | 79 | — | 79 |
| Buildings | 902 | (487) | 415 |
| Facilities & leasehold improvements | 3,170 | (2,748) | 422 |
| Machinery and equipment | 14,882 | (12,582) | 2,300 |
| Computer and R&D equipment | 381 | (334) | 47 |
| Other tangible assets | 123 | (93) | 30 |
| Construction in progress | 202 | — | 202 |
| Total | 19,739 | (16,244) | 3,495 |



## Text

The line “Construction in progress” in the table above includes property, plant and equipment under construction and equipment under qualification before operating.


On January 1, 2019, the Company adopted the new guidance on lease accounting and lease right-of-use assets are included in plant, property and equipment. The impact of the adoption of this new guidance is further described in Note 11.


The depreciation charge was $785 million, $727 million and $592 million in 2019, 2018 and 2017, respectively.


As described in Note 7, the acquisition of Norstel resulted in the recognition of property, plant and equipment of $11 million.
## Table

|  | Years Ended December 31, |  |  |
|---|---|---|---|
|  | 2019 | 2018 | 2017 |
| Revenues:      |  |  |  |
| Fixed fee license revenue | 35.1 %  | 75.3 %  | 36.0 % |
| Per-unit royalty revenue | 64.0 | 24.3 | 61.4 |
| Total royalty and license revenue | 99.1 | 99.6 | 97.4 |
| Development, services, and other | 0.9 | 0.4 | 2.6 |
| Total revenues | 100.0 | 100.0 | 100.0 |
| Costs and expenses: |  |  |  |
| Cost of revenues | 0.5 | 0.2 | 0.6 |
| Sales and marketing | 17.9 | 5.5 | 38.6 |
| Research and development | 21.8 | 8.8 | 33.6 |
| General and administrative | 119.4 | 37.7 | 152.4 |
| Restructuring costs | — | — | 4.6 |
| Total costs and expenses | 159.6 | 52.2 | 229.8 |
| Operating income (loss) | (59.6) | 47.8 | (129.8) |
| Interest and other income | 5.0 | 1.7 | 1.0 |
| Other expense | 0.2 | (0.2) | 0.9 |
| Income (loss) before provision for income taxes | (54.4) | 49.3 | (127.9) |
| Provision for income taxes | (1.3) | (0.4) | (1.4) |
| Net income (loss) | (55.7)% | 48.9 % | (129.3)% |



## Text

Overview of 2019


Total revenues for 2019 were $36.0 million, a decrease of $75.0 million, or 68%, versus 2018. The decrease was primarily driven by the $70.9 million decrease in fixed fee license revenue and the $4.0 million decrease in per-unit royalty revenue.


For 2019, we had a net loss of $20.0 million as compared to $54.3 million of net income for 2018. The $74.4 million decrease in net income was mainly related to the $75.0 million decrease in total revenue partially offset by a $0.5 million decrease in cost and operating expenses for 2019 compared to 2018.


We adopted ASC 606, effective January 1, 2018. Consistent with the modified retrospective transaction method, our results of operations for periods prior to the adoption of ASC 606 remain unchanged. As a result, the change in total revenues from 2018 to 2019 included a component of accounting policy change arising from the adoption of ASC 606.


The following table sets forth our consolidated statements of income data as a percentage of total revenues:
## Table

| Years Ended | July 27, 2019 | July 28, 2018 | July 29, 2017 |
|---|---|---|---|
| Revenue: |  |  |  |
| Americas  . | $30,927 | $29,070 | $28,351 |
| EMEA  . | 13,100 | 12,425 | 12,004 |
| APJC . | 7,877 | 7,834 | 7,650 |
| Total | $51,904 | $49,330 | $48,005 |
| Gross margin: |  |  |  |
| Americas . | $20,338 | $18,792 | $18,284 |
| EMEA  . | 8,457 | 7,945 | 7,855 |
| APJC . | 4,683 | 4,726 | 4,741 |
| Segment total . | 33,479 | 31,463 | 30,880 |
| Unallocated corporate items . | (813) | (857) | (656) |
| Total | $32,666 | $30,606 | $30,224 |



## Text

(a) Revenue and Gross Margin by Segment


We conduct business globally and are managed on a geographic basis consisting of three segments: the Americas, EMEA, and APJC. Our management makes financial decisions and allocates resources based on the information it receives from our internal management system. Sales are attributed to a segment based on the ordering location of the customer. We do not allocate research and development, sales and marketing, or general and administrative expenses to our segments in this internal management system because management does not include the information in our measurement of the performance of the operating segments. In addition, we do not allocate amortization and impairment of acquisition-related intangible assets, sharebased compensation expense, significant litigation settlements and other contingencies, charges related to asset impairments and restructurings, and certain other charges to the gross margin for each segment because management does not include this information in our measurement of the performance of the operating segments.


Summarized financial information by segment for fiscal 2019, 2018, and 2017, based on our internal management system and as utilized by our Chief Operating Decision Maker (CODM), is as follows (in millions):


Amounts may not sum and percentages may not recalculate due to rounding.


Revenue in the United States was $27.4 billion, $25.5 billion, and $25.0 billion for fiscal 2019, 2018, and 2017, respectively.
## Table

| Year Ended May 31, |  |  |  |
|---|---|---|---|
| (in millions) | 2019 | 2018 | 2017 |
| Cloud and license: |  |  |  |
| revenues (1) | $32,582 | $32,041 | $30,452 |
| Cloud services and license support expenses | 3,597 | 3,441 | 2,881 |
| Sales and marketing expenses | 7,398 | 7,213 | 6,770 |
| Margin (2) | $21,587 | $21,387 | $20,801 |
| Hardware: |  |  |  |
| revenues | $3,704 | $3,994 | $4,152 |
| Hardware products and support expenses | 1,327 | 1,547 | 1,618 |
| Sales and marketing expenses | 520 | 643 | 825 |
| Margin (2) | $1,857 | $1,804 | $1,709 |
| Services: |  |  |  |
| revenues | $3,240 | $3,395 | $3,359 |
| Services expenses | 2,703 | 2,729 | 2,661 |
| Margin (2) | $537 | $666 | $698 |
| Totals: |  |  |  |
| revenues (1) | $39,526 | $39,430 | $37,963 |
| Expenses | 15,545 | 15,573 | 14,755 |
| Margin (2) | $23,981 | $23,857 | $23,208 |



## Text

The following table presents summary results for each of our three businesses for each of fiscal 2019 , 2018 and 2017 :


(1) Cloud and license revenues presented for management reporting included revenues related to cloud and license obligations that would have otherwise been recorded by the acquired businesses as independent entities but were not recognized in our consolidated statements of operations for the periods presented due to business combination accounting requirements. See Note 9 for an explanation of these adjustments and the table below for a reconciliation of our total operating segment revenues to our total consolidated revenues as reported in our consolidated statements of operations


(2) The margins reported reflect only the direct controllable costs of each line of business and do not include allocations of product development, general and administrative and certain other allocable expenses, net. Additionally, the margins reported above do not reflect amortization of intangible assets, acquisition related and other expenses, restructuring expenses, stock-based compensation, interest expense or non-operating income, net. refer to the table below for a reconciliation of our total margin for operating segments to our income before provision for income taxes as reported per our consolidated statements of operations.
## Table

| € millions, unless otherwise stated | 2019 | 2018 | 2017 |
|---|---|---|---|
| Profit before tax | 4,596 | 5,600 | 5,029 |
| Tax expense at applicable tax rate of 26.4% rate of 26.4% (2018: 26.4%; 2017: 26.4%) | 1,212 | 1,478 | 1,327 |
| Tax effect of: |  |  |  |
| Foreign tax rates | –209 | –147 | –403 |
| Changes in tax laws and tax rates | 10 | 0 | –212 |
| Non-deductible expenses | 116 | 106 | 82 |
| Tax-exempt income | –93 | –38 | –95 |
| Withholding taxes | 138 | 91 | 131 |
| Research and development and foreign tax credits | –89 | –33 | –26 |
| Prior-year taxes | 80 | –17 | –26 |
| Reassessment of deferred tax assets, research and development tax credits, and foreign tax credits | 48 | 58 | 185 |
| Other | 13 | 13 | 20 |
| Total income tax expense | 1,226 | 1,511 | 983 |
| Effective tax rate (in %) | 26.7 | 27.0 | 19.5 |



## Text

The following table reconciles the expected income tax expense, computed by applying our combined German tax rate of 26.4% (2018: 26.4%; 2017: 26.4%), to the actual income tax expense. Our 2019 combined German tax rate includes a corporate income tax rate of 15.0% (2018: 15.0%; 2017: 15.0%), plus a solidarity surcharge of 5.5% (2018: 5.5%; 2017: 5.5%) thereon, and trade taxes of 10.6% (2018: 10.6%; 2017: 10.6%).


Relationship Between Tax Expense and Profit Before Tax
## Table

|  | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|
|  | US$’000 | US$’000 | US$’000 | US$’000 | US$’000 |
| Revenue | 171,819 | 140,176 | 110,865 | 93,597 | 80,216 |
| EBITDA | 62,721 | 44,869 | 33,254 | 27,430 | 22,697 |
| EPS | 40.57 | 28.86 | 21.70 | 17.89 | 12.47 1 |
| Profit for the year | 52,893 | 37,489 | 28,077 | 23,020 | 15,398 1 |
| Dividend declared - AU cents | 34 | 27 | 23 | 20 | 16 |
| Share price - AU$ | $34.2 | 22.51 | 8.57 | 6.46 | 4.43 |
| STI Achievement | 100% - 150% 2 | 131% | 103% | 97% | 63% |
| STI performance hurdles | 70% Revenue 30% EBITDA | 50% Revenue 50% EBITDA | 70% Revenue 30% EBITDA | 50% Revenue 50% EBITDA | Different metrics related to subscriber related to subscriber growth, EPS and Product development related to subscriber growth, EPS and Product development related to subscriber growth, EPS and Product development |
| LTI Achievement | 100% | 100% | 100% | 100% | 50% |
| LTI performance hurdles | 50% Revenue | EPS | EPS | EPS | 50% Subscriber growth 50% EPS |



## Text

4. Link between Group performance and remuneration outcomes


The Altium Remuneration Framework is designed to align key employee remuneration to shareholder returns (in the form of capital appreciation and dividends). The table below shows the Group performance on key financial results and performance metrics over the last five years.


Altium’s remuneration strategy has evolved over the past seven years and we believe that it is linked intrinsically to the success of the Group. Strong payout results for STI and LTI have reflected the strong financial performance of the Group. In addition, STI and LTI hurdles have changed over time to better reflect what is most important for Group growth.


1 Normalised EPS and Profit for the year excludes deferred tax asset of US$77 million recognised on the transfer of core business assets to the USA.


2 The maximum STI payable based on the above performance hurdles is 100%, however based on achievement of individual personal goals, the overall achievement level may be modified up to 150% or down to 0%.
## Table

|  | 2019 (a) | 2018(b) | 2017(c) | 2016(d)(f) | 2015 (e)(f) |
|---|---|---|---|---|---|
| Summary of Operations: |  |  |  |  |  |
| Net sales | $2,380.2 | $2,157.7 | $1,797.6 | $1,813.4 | $2,226.7 |
| Operating income | $241.4 | $189.3 | $121.5 | $70.8 | $119.3 |
| Net income | $167.0 | $188.5 | $47.0 | $11.3 | $58.7 |
| Financial Position at Year-End: |  |  |  |  |  |
| Cash and cash equivalents | $27.0 | $56.2 | $66.3 | $82.0 | $70.0 |
| Total assets | $3,187.8 | $3,007.0 | $2,878.1 | $2,794.3 | $2,902.6 |
| Long-term debt, net of current portion | $550.6 | $545.7 | $550.0 | $611.3 | $603.8 |
| Per Common Share: |  |  |  |  |  |
| Net earnings: |  |  |  |  |  |
| Basic | $3.46 | $3.96 | $0.99 | $0.23 | $1.11 |
| Diluted | $3.43 | $3.92 | $0.99 | $0.23 | $1.11 |
| Cash dividend-common | $0.80 | $0.72 | $0.72 | $0.72 | $0.72 |
| Weighted Average Common Shares outstanding: |  |  |  |  |  |
| Basic | 47.7 | 47.2 | 47.0 | 48.1 | 52.6 |
| Diluted | 48.1 | 47.6 | 47.1 | 48.2 | 52.7 |



## Text

Item 6. Selected Financial Data


Five-Year Financial Summary in millions, except per share data (Fiscal years ended June 30,)


(a) Fiscal year 2019 included $1.2 million of acquisition-related costs related to LPW Technology Ltd. See Note 4 in the Notes to the Consolidated Financial Statements included in Item 8. “Financial Statements and Supplementary Data” of this report.


(b) Fiscal year 2018 included $68.3 million of discrete income tax net benefits related to the U.S. tax reform and other legislative changes. See Note 17 in the Notes to the Consolidated Financial Statements included in Item 8. “Financial Statements and Supplementary Data” of this report.


(c) Fiscal year 2017 included $3.2 million of loss on divestiture of business. See Note 4 in the Notes to the Consolidated Financial Statements included in Item 8. "Financial Statements and Supplementary Data" of this report.


(d) Fiscal year 2016 included $22.5 million of excess inventory write-down charges, $12.5 million of goodwill impairment charges and $18.0 million of restructuring and impairment charges including $7.6 million of impairment of intangible assets and property, plant and equipment and $10.4 million of restructuring costs related primarily to an early retirement incentive and other severance related costs.


(e) Fiscal year 2015 included $29.1 million of restructuring costs related principally to workforce reduction, facility closures and write-down of certain assets.


(f) The weighted average common shares outstanding for fiscal years 2016 and 2015 included 5.5 million and 0.9 million less shares, respectively, related to the share repurchase program authorized in October 2014. During the fiscal years ended June 30, 2016 and 2015, we repurchased 3,762,200 shares and 2,995,272 shares, respectively, of common stock for $123.9 million and $124.5 million, respectively.


See Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations” for discussion of factors that affect the comparability of the “Selected Financial Data”.
## Table

|  |  | Years Ended September 30, |  |
|---|---|---|---|
|  | 2019 | 2018 | 2017 |
|  |  | (in thousands) |  |
| Tax expense at U.S. statutory rate | $ 10,992 | $  3,124 | $  (3,877) |
| State income taxes, net of federal tax effect | 1,416 | (237) | (923) |
| Nondeductible expenses | 1,720 | 1,186 | (185) |
| Change in reserve for tax contingencies | (1,468) | (1,047) | (4,435) |
| Change in deferred tax asset valuation allowance | (10,007) | 8,784 | 17,374 |
| Foreign rate differential (1) | 2,149 | 5,684 | 9,912 |
| Tax credits | (4,767) | (2,656) | (3,459) |
| Impact of U.S. Tax Reform | — | (7,053) | — |
| Global Intangible Low-Tax Income | 8,182 | — | — |
| Stock Based Compensation | (448) | 59 | 16 |
| Non-controlling interest in equity arrangements | 1,802 | 99 | — |
| Other | 1,469 | (850) | 235 |
| Provision for income taxes | $  11,040 | $  7,093 | $  14,658 |



## Text

The reconciliation of income tax computed at the U.S. federal statutory tax rate to income tax expense is as follows:


(1) In 2018, we recorded $3.5 million of tax expense related to foreign earnings which were not permanently reinvested prior to the enactment of the U.S. Tax Act. After enactment, certain foreign earnings are taxed at higher statutory rates than the U.S. which results in $2.1 million of incremental tax expense in 2019. In 2017, we provided for deferred taxes on all cumulative unremitted foreign earnings, as the earnings were no longer considered permanently reinvested resulting in a charge of $9.5 million.
## Table

|  | Useful Lives | December 27, 2019  | December 28, 2018 |
|---|---|---|---|
| Land | Indefinite | $1,170 | $1,170 |
| Buildings | 20 years | 1,360 | 1,292 |
| Machinery and equipment | 5-10 years | 21,718 | 17,837 |
| Computers, data processing and other equipment | 3-7 years | 12,686 | 11,244 |
| Software | 3-7 years | 29,305 | 22,779 |
| Leasehold improvements | 1-40 years | 70,903 | 60,565 |
| Furniture and fixtures | 7 years | 3,309 | 3,268 |
| Vehicles | 5-7 years | 6,410 | 2,769 |
| Other | 7 years | 95 | 95 |
| Construction-in-process    |  | 9,200 | 15,757 |
|  |  | 156,156 | 136,776 |
| Less: accumulated depreciation and amortization    |  | (63,310) | (51,500) |
| Equipment, leasehold improvements and software, net |  | $92,846 | $85,276 |



## Text

Note 7 – Equipment, Leasehold Improvements and Software


Equipment, leasehold improvements and software as of December 27, 2019 and December 28, 2018 consisted of the following:


Construction-in-process at December 27, 2019 related primarily to the implementation of the Company’s Enterprise Resource Planning (“ERP”) system and at December 28, 2018 related primarily to the implementation of the Company’s ERP system and the buildout of the Company’s headquarters in Ridgefield, CT. The buildout of the Company’s headquarters was completed during fiscal 2019. The rollout of its ERP system will continue through fiscal 2020. The net book value of equipment financed under finance leases at December 27, 2019 and December 28, 2018 was $3,905 and $388, respectively. No interest expense was capitalized during the fiscal years ended December 27, 2019, December 28, 2018 and December 29, 2017.