feyninc/tacha huggingface dataset:
## Table

|  | Number of Options Outstanding (in thousands) | Weighted- Average Exercise Price Per Share | Weighted- Average Contractual Term (in Years) | Aggregate Intrinsic Value (in thousands) |
|---|---|---|---|---|
| Outstanding at December 31, 2016 | 7,384 | $10.59 | 5.3 | $74,065 |
| Granted | 25 | 23.99 |  |  |
| Exercised | (1,722) | 10.39 |  |  |
| Canceled/Forfeited | (401) | 16.04 |  |  |
| Outstanding at December 31, 2017 | 5,286 | $10.30 | 4.2 | $201,480 |
| Granted | - | - |  |  |
| Exercised | (1,138) | 8.17 |  |  |
| Canceled/Forfeited | (17) | 18.79 |  |  |
| Outstanding at December 31, 2018 | 4,131 | $10.86 | 3.3 | $295,921 |
| Granted | - | - |  |  |
| Exercised | (1,742) | 8.53 |  |  |
| Canceled/Forfeited | (132) | 2.73 |  |  |
| Outstanding at December 31, 2019 | 2,257 | $13.13 | 2.5 | $351,428 |
| Vested and expected to vest as of December 31, 2019 | 2,259 | $13.13 | 2.5 | $351,362 |
| Excercisable as of December 31, 2019 | 2,243 | $13.10 | 2.5 | $349,002 |



## Text

A summary of option activity under all of the Company’s equity incentive plans at December 31, 2019 and changes during the period then ended is presented in the following table:


There were no options granted for the year ended December 31, 2019 and 2018. The total intrinsic value of options exercised during year ended December 31, 2019, 2018 and 2017 were $215.5 million, $74.6 million, and $41.2 million, respectively.
## Table

|  | 2019 | 2018 | 2017 |
|---|---|---|---|
| Net Sales: |  |  |  |
| Ardent Mills . | $3,476.0 | $3,344.1 | $3,180.0 |
| Others | 195.4 | 198.8 | 177.7 |
| Total net sales . | $3,671.4 | $3,542.9 | $3,357.7 |
| Gross margin: |  |  |  |
| Ardent Mills . | $281.9 | $386.5 | $340.3 |
| Others | 45.5 | 34.8 | 34.6 |
| Total gross margin | $327.4 | $421.3 | $374.9 |
| Earnings after income taxes: |  |  |  |
| Ardent Mills . | $151.9 | $197.0 | $152.0 |
| Others | 18.1 | 10.1 | 10.1 |
| Total earnings after income taxes | $170.0 | $207.1 | $162.1 |



## Text

7. INVESTMENTS IN JOINT VENTURES


The total carrying value of our equity method investments at the end of fiscal 2019 and 2018 was $796.3 million and $776.2 million, respectively. These amounts are included in other assets and reflect our 44% ownership interest in Ardent Mills and 50% ownership interests in other joint ventures. Due to differences in fiscal reporting periods, we recognized the equity method investment earnings on a lag of approximately one month.


In fiscal 2019, we had purchases from our equity method investees of $39.4 million. Total dividends received from equity method investments in fiscal 2019 were $55.0 million.


In fiscal 2018, we had purchases from our equity method investees of $34.9 million. Total dividends received from equity method investments in fiscal 2018 were $62.5 million.


In fiscal 2017, we had purchases from our equity method investees of $41.8 million. Total dividends received from equity method investments in fiscal 2017 were $68.2 million.


Notes to Consolidated Financial Statements - (Continued) Fiscal Years Ended May 26, 2019, May 27, 2018, and May 28, 2017 (columnar dollars in millions except per share amounts) Summarized combined financial information for our equity method investments on a 100% basis is as follows:
## Table

|  |  | Years Ended December 31, |  |
|---|---|---|---|
|  | 2019 | 2018 | 2017 |
| Foreign Exchange Contracts: |  |  |  |
| Amounts reclassified from AOCI to earnings: |  |  |  |
| Net sales | $— | $383 | $(488) |
| Cost of goods sold | 860 | (6) | 497 |
| Selling, general and administrative | 92 | 107 | 45 |
| Total amounts reclassified from AOCI to earnings | 952 | 484 | 54 |
| Loss recognized in other expense for hedge ineffectiveness | — | — | (1) |
| Loss recognized in other expense for derivatives not designated as cash flow hedges | — | — | (15) |
| Total derivative gain on foreign exchange contracts recognized in earnings | $952 | $484 | $38 |
| Interest Rate Swaps: |  |  |  |
| Benefit recorded in interest expense | $491 | $421 | $37 |
| Total gain | $1,443 | $905 | $75 |



## Text

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (in thousands, except for share and per share data)


NOTE 13 — Derivatives


The effect of derivative instruments on the Consolidated Statements of Earnings is as follows:
## Table

|  | 2019 | 2018 | 2017 |
|---|---|---|---|
|  |  | (in thousands) |  |
| Components of Net Periodic Postretirement Benefit |  |  |  |
| Cost (income): |  |  |  |
| Service cost | $41 | $39 | $34 |
| Interest cost | 347 | 196 | 201 |
| Amortization of prior service credit | (191) | (373) | (496) |
| Net actuarial loss | 717 | 25 | 398 |
| Special termination benefits | — | 3,708 | 591 |
| Total net periodic postretirement benefit cost | 914 | 3,595 | 728 |
| Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income: |  |  |  |
| Prior service cost | — | — | — |
| Reversal of amortization items: |  |  |  |
| Prior service credit | 191 | 373 | 496 |
| Total recognized in other comprehensive income | 191 | 373 | 496 |
| Total recognized in net periodic postretirement cost and other comprehensive income | $1,105 | $3,968 | $1,224 |



## Text

Expense


For the years ended December 31, 2019, 2018, and 2017, Teradyne’s net periodic postretirement benefit cost (income) was comprised of the following:
## Table

|  |  | 2019 | 2018 |
|---|---|---|---|
|  | Notes | $ million | $ million |
| Employee benefit costs | 8 | 220.5 | 208.9 |
| Costs of inventories recognised as an expense |  | 81.6 | 79.8 |
| Write-down of inventories to net realisable value | 19 | 1.6 | 0.1 |
| Amortisation of intangible assets | 13 | 2.1 | 4.3 |
| Depreciation of property, plant and equipment | 14 | 14.7 | 16.5 |
| Depreciation of right-of-use assets | 15 | 7.5 | – |
| Amortisation of assets recognised from costs to obtain a contract | 21 | 0.5 | 0.6 |
| Operating leases – minimum lease payments |  | – | 8.5 |
| Expenses relating to short-term leases and leases of low-value assets | 26 | 0.3 | – |
| Product development costs |  | 96.5 | 96.9 |
| Net foreign exchange loss |  | 0.6 | 0.6 |



## Text

4. Profit before tax


The following items have been charged in arriving at profit before tax:
## Table

|  |  | For the Fiscal Year ended January 31, 2019 |  |
|---|---|---|---|
|  | As reported | Impact from the adoption of ASC 606 and 340-40 | As adjusted |
| Net revenue (1) |  |  |  |
| Subscription | $1,802.3 | $(16.6) | $1,785.7 |
| Maintenance | 635.1 | 5.7 | 640.8 |
| Other | 132.4 | (11.3) | 121.1 |
| Cost of revenue (1) |  |  |  |
| Cost of subscription and maintenance revenue | 216.0 | (0.1) | 215.9 |
| Cost of other revenue | 54.4 | 1.1 | 55.5 |
| Operating expenses (1): |  |  |  |
| Marketing and sales | 1,183.9 | (17.9) | 1,166.0 |
| Provision for income taxes | (38.1) | (4.8) | (42.9) |
| Net loss (2) | $(80.8) | $(10.1) | $(90.9) |
| Basic net loss per share | $(0.37) | $(0.05) | $(0.42) |
| Diluted net loss per share | $(0.37) | $(0.05) | $(0.42) |



## Text

Quantitative effect of ASC Topics 606 and 340-40 adoption


(1) While not shown here, gross margin, loss from operations, and loss before income taxes have consequently been affected as a result of the net effect of the adjustments noted above.


(2) The impact on the Consolidated Statements of Comprehensive Loss is limited to the net effects of the impacts noted above on the Consolidated Statements of Operations, specifically on the line item "Net loss."
## Table

|  |  | Years Ended December 31, |  |
|---|---|---|---|
|  | 2019 | 2018 | 2017 |
|  |  | (in thousands) |  |
| Revenue: |  |  |  |
| Royalty and license fees | $81,943 | $186,425 | $205,809 |
| Total revenue | 81,943 | 186,425 | 205,809 |
| Operating expenses: |  |  |  |
| Research, development and other related costs | 28,732 | 27,514 | 30,039 |
| Litigation | 3,471 | 26,099 | 36,209 |
| Amortization | 11,871 | 19,906 | 21,590 |
| Total operating expenses (1) | 44,074 | 73,519 | 87,838 |
| Total operating income | $37,869 | $112,906 | $117,971 |



## Text

Semiconductor and IP Licensing Segment


(1) Excludes operating expenses which are not allocated on a segment basis.


Semiconductor and IP Licensing segment revenue for the year ended December 31, 2019 was $81.9 million as compared to $186.4 million for the year ended December 31, 2018, a decrease of $104.5 million. The decrease in revenue was due principally to revenue recorded in 2018 related to the Samsung settlement and license agreement executed in December 2018, partially offset by a one-time payment from a new license agreement signed in December 2019.
## Table

|  |  | Amount Reclassified from AOCI |  |
|---|---|---|---|
|  |  | Years Ended June 30, |  |
| ($ in millions) (a) | Location of gain (loss) | 2019 | 2018 |
| Details about AOCI Components |  |  |  |
| Cash flow hedging items |  |  |  |
| Commodity contracts | Cost of sales | $5.1 | $1.8 |
| Foreign exchange contracts | Net sales | 1.0 | (1.0) |
| Forward interest rate swaps | Interest expense | 0.4 | 0.4 |
|  | Total before tax | 6.5 | 1.2 |
|  | Tax expense | (1.6) | (0.4) |
|  | Net of tax | $4.9 | $0.8 |
| Amortization of pension and other postretirement benefit plan items |  |  |  |
| Net actuarial loss | (b) | $(12.0) | $(16.4) |
| Prior service cost | (b) | 3.1 | 3.1 |
|  | Total before tax | (8.9) | (13.3) |
|  | Tax benefit | 2.1 | 4.4 |
|  | Net of tax | $(6.8) | $(8.9) |



## Text

The following is a summary of amounts reclassified from AOCI for the years ended June 30, 2019 and 2018:


(a) Amounts in parentheses indicate debits to income/loss.


(b) These AOCI components are included in the computation of net periodic benefit cost (see Note 11 for additional details).
## Table

|  |  | Year ended December 31, |  |
|---|---|---|---|
|  | 2019 | 2018 | 2017 |
| Revenues |  |  |  |
| Subscriptions | $817,811 | $612,888 | $465,254 |
| Other | 85,047 | 60,736 | 38,363 |
| Total revenues | 902,858 | 673,624 | 503,617 |
| Cost of revenues |  |  |  |
| Subscriptions | 160,320 | 109,454 | 89,193 |
| Other | 70,723 | 47,675 | 32,078 |
| Total cost of revenues | 231,043 | 157,129 | 121,271 |
| Gross profit | 671,815 | 516,495 | 382,346 |
| Operating expenses |  |  |  |
| Research and development | 136,363 | 101,042 | 75,148 |
| Sales and marketing | 439,100 | 329,116 | 240,223 |
| General and administrative | 142,027 | 102,773 | 72,313 |
| Total operating expenses | 717,490 | 532,931 | 387,684 |
| Loss from operations | (45,675) | (16,436) | (5,338) |
| Other income (expense), net |  |  |  |
| Interest expense | (20,512) | (16,102) | (99) |
| Other income, net | 9,247 | 6,475 | 1,491 |
| Other income (expense), net | (11,265) | (9,627) | 1,392 |
| Loss before income taxes | (56,940) | (26,063) | (3,946) |
| Provision for (benefit from) income taxes | (3,333) | 140 | 258 |
| Net loss | $(53,607) | $(26,203) | $(4,204) |



## Text

Results of Operations


The following tables set forth selected consolidated statements of operations data and such data as a percentage of total revenues. The historical results presented below are not necessarily indicative of the results that may be expected for any future period (in thousands):
## Table

|  |  | Three Months Ended |  |  |  |
|---|---|---|---|---|---|
|  | March 31, | June 30, | September 30, | December 31, | Year Ended December 31, |
| 2018: |  |  |  |  |  |
| Operating revenues | $1,741.8 | $1,780.9 | $1,785.5 | $2,131.9 | $7,440.1 |
| Costs of operations (1) | 519.9 | 560.3 | 556.7 | 540.9 | 2,177.8 |
| Operating income | 402.9 | 546.0 | 567.2 | 388.9 | 1,905.0 |
| Net income | 280.3 | 314.4 | 377.3 | 292.7 | 1,264.7 |
| Net income attributable to American Tower Corporation stockholders | 285.2 | 306.7 | 366.9 | 277.6 | 1,236.4 |
| Dividends on preferred stock | (9.4) | — | — | — | (9.4) |
| Net income attributable to American Tower Corporation common stockholders | 275.8 | 306.7 | 366.9 | 277.6 | 1,227.0 |
| Basic net income per share attributable to American Tower Corporation common stockholders | 0.63 | 0.69 | 0.83 | 0.63 | 2.79 |
| Diluted net income per share attributable to American Tower Corporation common stockholders | 0.63 | 0.69 | 0.83 | 0.62 | 2.77 |



## Text

AMERICAN TOWER CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Tabular amounts in millions, unless otherwise disclosed)


23. SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)


Selected quarterly financial data for the years ended December 31, 2019 and 2018 is as follows (in millions, except per share data):


(1) Represents Operating expenses, exclusive of Depreciation, amortization and accretion, Selling, general, administrative and development expense, and Other operating expenses.
## Table

|  | 2019 | 2018 | 2017 |
|---|---|---|---|
| Amount computed using statutory rate | $841 | $2,122 | $(1,078) |
| Net change in valuation allowance for net deferred tax assets | (459) | (367) | 10,058 |
| AMT and other | — | (191) | 20 |
| Foreign rate differential | 664 | 22 | (169) |
| Non-deductible items | (151) | (276) | (370) |
| State income tax | (370) | 50 | (34) |
| Impact of tax reform on deferred taxes | — | (4,901) | — |
| Research and development credits | 1,694 | 475 | 2,494 |
| Foreign income tax | (494) | — | — |
| Stock compensation, net | 1,539 | — | — |
| Income tax benefit (provision) | $3,264 | $(3,066) | $10,921 |



## Text

Income Tax Provision Reconciliation


The difference between the income tax benefit (provision) and income taxes computed using the U.S. federal income tax rate was as follows for the years ended September 30, 2019, 2018, and 2017 (amounts shown in thousands):
## Table

|  |  | Fiscal Years Ended March 31, |  |
|---|---|---|---|
|  | 2019 | 2018 | 2017 |
| Net income (U.S. GAAP) (1) | $206,587 | $254,127 | $47,157 |
| Non-GAAP adjustments: |  |  |  |
| Income tax expense (benefit) | (39,460) | 9,132 | 4,294 |
| Interest expense, net | 19,204 | 32,073 | 39,731 |
| Depreciation and amortization | 52,628 | 50,661 | 38,151 |
| EBITDA (non-GAAP) (1) | 238,959 | 345,993 | 129,333 |
| Excluding the following items: |  |  |  |
| Equity (income) loss from equity method investments | 3,304 | (76,192) | (41,643) |
| Acquisition (gain) loss | — | (130,880) | — |
| Change in value of TOKIN options | — | — | (10,700) |
| (Gain) loss on write down and disposal of long-lived assets | 1,660 | (992) | 10,671 |
| ERP integration costs/IT transition costs | 8,813 | 80 | 7,045 |
| Stock-based compensation | 12,866 | 7,657 | 4,720 |
| Restructuring charges (2) | 8,779 | 14,843 | 5,404 |
| R&D grant reimbursements and grant income | (4,559) | — | — |
| Legal expenses/fines related to antitrust class actions | 11,896 | 16,636 | 2,640 |
| Net foreign exchange (gain) loss | (7,230) | 13,145 | (3,758) |
| TOKIN investment-related expenses | — | — | 1,101 |
| Plant start-up costs (2) | (927) | 929 | 427 |
| Loss on early extinguishment of debt | 15,946 | 486 | — |
| Adjusted EBITDA (non-GAAP) (1) | $289,507 | $191,705 | $105,240 |



## Text

The following table provides reconciliation from U.S. GAAP Net income to non-GAAP Adjusted EBITDA (amounts in thousands):


(1) Fiscal years ending March 31, 2018 and 2017 adjusted due to the adoption of ASC 606.


(2) $0.9 million in costs incurred during fiscal year 2018 related to the relocation of the Company's tantalum powder facility equipment from Carson City, Nevada to its existing Matamoros, Mexico plant were reclassified from “Plant start-up costs” to “Restructuring charges” during fiscal year 2019.
## Table

| ($ in millions) |  |  |  |
|---|---|---|---|
| For the year ended December 31: | 2019 | 2018 | 2017 |
| Cloud & Cognitive Software* |  |  |  |
| Software | $18,712 | $17,970** | $17,681** |
| Services | 4,321 | 4,082** | 3,920** |
| Systems | 166 | 156 | 150 |
| Global Business Services* |  |  |  |
| Services | $16,363 | $16,238** | $15,728** |
| Software | 156 | 151** | 179** |
| Systems | 115 | 206 | 165 |
| Global Technology Services* |  |  |  |
| Services | $20,768 | $22,222** | $21,913** |
| Maintenance | 5,183 | 5,484 | 5,783 |
| Systems | 1,072 | 1,069 | 1,207 |
| Software | 338 | 371** | 310** |
| Systems |  |  |  |
| Servers | $ 3,746 | $ 3,996 | $ 3,993 |
| Storage | 1,920 | 2,114 | 2,243 |
| Software | 1,528 | 1,499** | 1,520** |
| Services | 410 | 425** | 438** |
| Global Financing |  |  |  |
| Financing | $ 1,120 | $ 1,223 | $ 1,167 |
| Used equipment sales | 281 | 366 | 530 |



## Text

* Recast to conform to 2019 presentation.


** Reclassified to conform to 2019 presentation. Refer to “Basis of
Presentation” in note A, “Significant Accounting Policies,” for
additional information.


The following table presents external revenue for similar classes of products or services within the company’s reportable segments. Client solutions often include IBM software and systems and other suppliers’ products if the client solution requires it.


For each of the segments that include services, Software-as-a-Service, consulting, education, training and other product-related services are included as services. For each of these segments, software includes product license charges and ongoing subscriptions.
## Table

|  |  | Years Ended October 31, |  |
|---|---|---|---|
|  | 2019 | 2018 | 2017 |
|  |  | (In thousands)  |  |
| Income taxes at statutory rate | $13,408 | $ 7,132 | $148,585 |
| Discrete benefit resulting from TCJA  | — | (37,505) | — |
| State income taxes | 1,189 | 1,014 | 9,038 |
| State income tax credits  | (2,139) | (804) | (606) |
| Expiration of state income tax credits  | 4,121 | 4,117 | 642 |
| Federal income tax credits  | (474) | (460) | (390) |
| Federal manufacturers deduction  | — | — | (11,527) |
| Excess tax benefits  | (1,388) | (1,638) | (3,345) |
| Nondeductible expenses | 1,786 | 1,890 | 3,506 |
| Change in valuation allowance  | (5,380) | (5,297) | (1,106) |
| Other  | (570) | 677 | (12) |
| Income tax expense (benefit)  | $10,553 | $(30,874) | $144,785 |



## Text

At the end of each reporting period, the Company evaluates all available information at that time to determine if it is more likely than not that some or all of these credits will be utilized. As of October 31, 2019, 2018, and 2017, the Company determined that a total of $1.8 million, $0.7 million, and $0.6 million, respectively, would be recovered. Accordingly, those amounts were released from the valuation allowance and benefited deferred tax expense in the respective periods.


The differences between the consolidated effective income tax rate and the federal statutory rate effective during the applicable year presented are as follows:
## Table

| (in thousands, except per share amounts and employee data) |  |  | Fiscal Years |  |  |
|---|---|---|---|---|---|
|  | 2019(1) | 2018 | 2017 | 2016(3) | 2015 |
| Operations: |  |  |  |  |  |
| Revenue: | $11,171,297 | $9,030,008 | $7,301,505 | $5,854,430 | $4,795,511 |
| Gross profit | $9,498,577 | $7,835,009 | $6,291,014 | $5,034,522 | $4,051,194 |
| Income before income taxes | $3,204,741 | $2,793,876 | $2,137,641 | $1,435,138 | $873,781 |
| Net income | $2,951,458 | $2,590,774 | $1,693,954 | $1,168,782 | $629,551 |
| Net income per share: |  |  |  |  |  |
| Basic | $6.07 | $5.28 | $3.43 | $2.35 | $1.26 |
| Diluted | $6.00 | $5.20 | $3.38 | $2.32 | $1.24 |
| Shares used to compute basic net income                                        per share | 486,291 | 490,564 | 493,632 | 498,345 | 498,764 |
| Shares used to compute diluted net income per share | 491,572 | 497,843 | 501,123 | 504,299 | 507,164 |
| Financial position: |  |  |  |  |  |
| Cash, cash equivalents and short-term investments | $4,176,976 | $3,228,962 | $5,819,774 | $4,761,300 | $3,988,084 |
| Working capital(2) | $(1,696,013) | $555,913 | $3,720,356 | $3,028,139 | $2,608,336 |
| Total assets | $20,762,400 | $18,768,682 | $14,535,556 | $12,697,246 | $11,714,500 |
| Debt, current | $3,149,343 | $— | $— | $— | $— |
| Debt, non-current | $988,924 | $4,124,800 | $1,881,421 | $1,892,200 | $1,895,259 |
| Stockholders’ equity | $10,530,155 | $9,362,114 | $8,459,869 | $7,424,835 | $7,001,580 |
| Additional data: |  |  |  |  |  |
| Worldwide employees | 22,634 | 21,357 | 17,973 | 15,706 | 13,893 |



## Text

ITEM 6. SELECTED FINANCIAL DATA


The following selected consolidated financial data is derived from our Consolidated Financial Statements. As our historical operating results are not necessarily indicative of future operating results, this data should be read in conjunction with the Consolidated Financial Statements and notes thereto, and with Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations.


(1) On December 1, 2018, the beginning of our fiscal year 2019, we adopted the requirements of the Financial Accounting Standards Board’s Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers, Topic 606, utilizing the modified retrospective method of transition. Prior period information has not been restated and continues to be reported under the accounting standard in effect for those periods.


(2) As of November 29, 2019, working capital was in a deficit primarily due to the reclassification of our $2.25 billion term loan due April 30, 2020 and $900 million 4.75% senior notes due February 1, 2020 to current liabilities. We intend to refinance our Term Loan and 2020 Notes on or before the due dates.


(3) Our fiscal year is a 52- or 53-week year that ends on the Friday closest to November 30. Fiscal 2016 was a 53-week fiscal year compared with the other periods presented which were 52-week fiscal years.
## Table

|  |  | Years Ended December 31, |  |
|---|---|---|---|
|  | 2019 | 2018 | 2017 |
|  |  | (in thousands) |  |
| Revenue: |  |  |  |
| Royalty and license fees | $198,124 | $219,708 | $167,923 |
| Total revenue | 198,124 | 219,708 | 167,923 |
| Operating expenses: |  |  |  |
| Cost of revenues | 8,460 | 13,291 | 6,308 |
| Research, development and other related costs | 83,613 | 78,892 | 75,809 |
| Litigation | 1,656 | — | 288 |
| Amortization | 88,075 | 88,544 | 90,340 |
| Total operating expenses (1) | 181,804 | 180,727 | 172,745 |
| Total operating income (loss) | $16,320 | $38,981 | $(4,822) |



## Text

Product Licensing Segment


(1) Excludes operating expenses which are not allocated on a segment basis.


Product Licensing revenue for the year ended December 31, 2019 was $198.1 million as compared to $219.7 million for the year ended December 31, 2018, a decrease of $21.6 million. The decrease in revenue was primarily due to the timing and duration of minimum guarantee contracts up for renewal and executed, decreased NRE services revenue, as well as a decrease in per-unit royalty revenue in 2019 as compared to 2018.
## Table

|  |  | Year Ended |  |
|---|---|---|---|
| (In millions) | March 29, 2019 | March 30, 2018 | March 31, 2017 |
| Current: |  |  |  |
| Federal | $73 | $1,011 | $108 |
| State | 15 | 40 | 6 |
| International | 74 | 107 | 68 |
| Total | 162 | 1,158 | 182 |
| Deferred: |  |  |  |
| Federal | (52) | (1,664) | (177) |
| State | (2) | (151) | (17) |
| International | (16) | (33) | (14) |
| Total | (70) | (1,848) | (208) |
| Income tax expense (benefit) | $92 | $(690) | $(26) |



## Text

Pre-tax income from international operations was $214 million, $890 million, and $353 million for fiscal 2019, 2018, and 2017, respectively.


The components of income tax expense (benefit) recorded in continuing operations are as follows:


As of December 28, 2018, we have completed our accounting for the effects of the enactment of the Tax Cuts and Jobs Act (H.R.1) (the 2017 Tax Act) in accordance with U.S. Securities and Exchange Commission (SEC) Staff Accounting Bulletin No. 118, and the amounts are no longer considered provisional. We will continue to evaluate any new guidance from the U.S. Department of Treasury and the Internal Revenue Service (IRS) as issued.