feyninc/tacha huggingface dataset:
## Table

| December 31, 2019 | Gross Cost | Accumulated Amortization | Net Cost |
|---|---|---|---|
| Technologies & licenses | 699 | (578) | 121 |
| Purchased & internally developed software | 486 | (427) | 59 |
| Technologies in progress | 119 | — | 119 |
| Other intangible assets | 70 | (70) | — |
| Total | 1,374 | (1,075) | 299 |
| December 31, 2018 | Gross Cost | Accumulated Amortization | Net Cost |
| Technologies & licenses | 705 | (592) | 113 |
| Purchased & internally developed software | 459 | (404) | 55 |
| Technologies in progress | 44 | — | 44 |
| Other intangible assets | 69 | (69) | — |
| Total | 1,277 | (1,065) | 212 |



## Text

As described in Note 7, the acquisition of Norstel resulted in the recognition of technology in process for $86 million in the line “Technologies in progress”.


The line “Technologies in progress” in the table above also includes internally developed software under construction and software not ready for use.


The amortization expense in 2019, 2018 and 2017 was $69 million, $64 million and $58 million, respectively.
## Table

|  |  |  | Fiscal Year Ended January 31, |  |  |
|---|---|---|---|---|---|
|  | 2019 (1) | 2018 | 2017 | 2016 | 2015 |
|  | (In millions, except per share data) |  |  |  |  |
| For the fiscal year: |  |  |  |  |  |
| Net revenue | $2,569.8 | $2,056.6 | $2,031.0 | $2,504.1 | $2,512.2 |
| (Loss) income from operations | (25.0) | (509.1) | (499.6) | 1.3 | 120.7 |
| Net (loss) income | (80.8) | (566.9) | (582.1) | (330.5) | 81.8 |
| Cash flow from operations | $377.1 | $0.9 | $169.7 | $414.0 | $708.6 |
| Common stock data: |  |  |  |  |  |
| Basic net (loss) income per share | $(0.37) | $(2.58) | $(2.61) | $(1.46) | $0.36 |
| Diluted net (loss) income per share | $(0.37) | $(2.58) | $(2.61) | $(1.46) | $0.35 |
| At year end: |  |  |  |  |  |
| Total assets | $4,729.2 | $4,113.6 | $4,798.1 | $5,515.3 | $4,909.7 |
| Long-term liabilities | 2,638.9 | 2,246.4 | 1,879.1 | 2,304.7 | 1,290.4 |
| Stockholders’ (deficit) equity | $(210.9) | $(256.0) | $733.6 | $1,619.6 | $2,219.2 |



## Text

ITEM 6. SELECTED FINANCIAL DATA


The following selected consolidated financial data is not necessarily indicative of results of future operations, and should be read in conjunction with Item 7, “Management's Discussion and Analysis of Financial Condition and Results of Operations,” and the consolidated financial statements and related notes thereto included in Item 8 of this Form 10-K to fully understand factors that may affect the comparability of the information presented below.


The financial data for the fiscal years ended January 31, 2019 and 2018 are derived from, and are qualified by reference to, the audited consolidated financial statements that are included in this Form 10-K. The Consolidated Statements of Operations and the Consolidated Statements of Cash Flows data for the fiscal year ended January 31, 2017 are derived from, and are qualified by reference to, the audited consolidated financial statements that are included in this Form 10-K. The Consolidated Balance Sheet data for the fiscal year ended January 31, 2017 and the remaining financial data for the fiscal years ended January 31, 2016 and 2015 are derived from audited, consolidated financial statements which are not included in this Form 10-K.


(1) Reflects the impact of the adoption of new accounting standards in fiscal year 2019 related to revenue recognition. See Part II, Item 8, Note 1, Business and Summary of Significant Accounting Policies, Accounting Standards Adopted, of our consolidated financial statements for additional information.
## Table

|  |  | For the Year Ended December 31, |  |
|---|---|---|---|
|  | 2019 | 2018 | 2017 |
| Revenue (U.S.): |  |  |  |
| Subscription and returns |  |  |  |
| Tax determination | $203,584 | $147,847 | $114,575 |
| Tax returns and compliance management | 127,815 | 91,239 | 74,454 |
| Interest income on funds held for customers | 3,213 | 1,055 | - |
| Total subscription and returns | 334,612 | 240,141 | 189,029 |
| Professional services | 24,399 | 15,126 | 12,476 |
| Total revenue (U.S.) | 359,011 | 255,267 | 201,505 |
| Total revenue (non U.S.) | 23,410 | 16,831 | 11,654 |
| Total revenue | $382,421 | $272,098 | $213,159 |



## Text

Disaggregation of Revenue


The following table disaggregates revenue generated within the United States (U.S.) from revenue generated from customers outside of the U.S. Revenue
for transaction tax compliance in the U.S. is further disaggregated based on the solutions or services purchased by customers. Total revenues consisted of the
following (in thousands):
## Table

|  | Year ended December 31, |  |  |  | Year ended December 31, |  |  |  |
|---|---|---|---|---|---|---|---|---|
| (in thousands, except percentages) | 2019 | 2018 | $ Change | % Change | 2018 | 2017 | $ Change | % Change |
| Cost of revenues |  |  |  |  |  |  |  |  |
| Subscriptions | $160,320 | $109,454 | $50,866 | 46% | $109,454 | $89,193 | $20,261 | 23% |
| Other | 70,723 | 47,675 | 23,048 | 48% | 47,675 | 32,078 | 15,597 | 49% |
| Total cost of revenues | $231,043 | $157,129 | $73,914 | 47% | $157,129 | $121,271 | $35,858 | 30% |
| Percentage of revenues |  |  |  |  |  |  |  |  |
| Subscriptions | 18% | 16% |  |  | 16% | 18% |  |  |
| Other | 8% | 7% |  |  | 7% | 6% |  |  |
| Gross margins |  |  |  |  |  |  |  |  |
| Subscriptions | 80% | 82% |  |  | 82% | 81% |  |  |
| Other | 17% | 22% |  |  | 22% | 16% |  |  |
| Total gross margin % | 74% | 77% |  |  | 77% | 76% |  |  |



## Text

Cost of Revenues and Gross Margin


Subscription cost of revenues and gross margin. Cost of subscriptions revenues increased by $50.9 million, or 46%, during fiscal year 2019 as compared to fiscal year 2018. Primary drivers of the increase were increases in third-party costs to support our solution offerings of $21.5 million, infrastructure support costs of $19.8 million including amortization expense from acquired intangible assets, and headcount and personnel and contractor related costs of $9.6 million including share-based compensation expense. These factors resulted in a decrease in gross margin.


The increase in headcount and other expense categories described herein was driven primarily by investments in our infrastructure and capacity to improve the availability of our subscription offerings, while also supporting the growth in new customers and increased usage of our subscriptions by our existing customer base. We expect subscription gross margin to be within a relatively similar range in the future.


Other cost of revenues and gross margin. Cost of other revenues increased by $23.0 million, or 48%, during fiscal year 2019 as compared to fiscal year 2018. This was primarily due to the increase in services personnel costs of $11.1 million including share-based compensation expense, cost of product sales of $10.6 million, and overhead costs of $1.3 million. Other revenues gross margin fluctuates based on timing of completion of professional services projects and discounting on phones.
## Table

|  |  | Years Ended June 30, |  |
|---|---|---|---|
| ($ in millions) | 2019 | 2018 | 2017 |
| Cost of sales |  |  |  |
| Service cost | $10.0 | $10.5 | $20.2 |
| Total cost of sales | 10.0 | 10.5 | 20.2 |
| Selling, general and administrative expenses |  |  |  |
| Service cost | 1.5 | 1.6 | 3.9 |
| Total selling, general and administrative expenses | 1.5 | 1.6 | 3.9 |
| Other expense |  |  |  |
| Pension earnings, interest and deferrals | 0.1 | 2.1 | 23.8 |
| Curtailment charge | — | — | 0.5 |
| Total other expense | 0.1 | 2.1 | 24.3 |
| Net pension expense | $11.6 | $14.2 | $48.4 |



## Text

The service cost component of net pension expense represents the estimated cost of future pension liabilities earned associated with active employees. The pension earnings, interest and deferrals (“pension EID”) is comprised of the expected return on plan assets, interest costs on the projected benefit obligations of the plans and amortization of actuarial gains and losses and prior service costs.


Net pension expense is recorded in accounts that are included in both the cost of sales and selling, general and administrative expenses based on the function of the associated employees and in other income (expense), net. The following is a summary of the classification of net pension expense for the years ended June 30, 2019, 2018 and 2017:


As of June 30, 2019 and 2018, amounts capitalized in gross inventory were $1.7 million and $1.7 million, respectively.
## Table

|  | Vessels | Office property and other tangible assets | Total tangible fixed assets | Vessels under construction |
|---|---|---|---|---|
| Cost |  |  |  |  |
| As of January 1, 2018 | 4,217,866 | 19,224 | 4,237,090 | 166,655 |
| Additions | 49,036 | 4,678 | 53,714 | 637,046 |
| Transfer from vessels under construction | 642,776 | — | 642,776 | (642,776) |
| Transfer under ‘‘Other non-current assets’’ | — | — | — | (1,650) |
| Fully amortized fixed assets | (10,000) | (192) | (10,192) | — |
| As of December 31, 2018 | 4,899,678 | 23,710 | 4,923,388 | 159,275 |
| Additions | 26,233 | 1,454 | 27,687 | 450,918 |
| Return of capital expenditures | (11,224) | — | (11,224) | — |
| Transfer from vessels under construction | 406,870 | — | 406,870 | (406,870) |
| Fully amortized fixed assets | (7,209) | — | (7,209) | — |
| As of December 31, 2019 | 5,314,348 | 25,164 | 5,339,512 | 203,323 |
| Accumulated depreciation |  |  |  |  |
| As of January 1, 2018 | 460,815 | 3,709 | 464,524 | — |
| Depreciation | 144,611 | 863 | 145,474 | — |
| Fully amortized fixed assets | (10,000) | (192) | (10,192) | — |
| As of December 31, 2018 | 595,426 | 4,380 | 599,806 | — |
| Depreciation | 156,826 | 875 | 157,701 | — |
| Impairment loss on vessels | 162,149 | — | 162,149 | — |
| Fully amortized fixed assets | (7,209) | — | (7,209) | — |
| As of December 31, 2019 | 907,192 | 5,255 | 912,447 | — |
| Net book value |  |  |  |  |
| As of December 31, 2018 | 4,304,252 | 19,330 | 4,323,582 | 159,275 |
| As of December 31, 2019 | 4,407,156 | 19,909 | 4,427,065 | 203,323 |



## Text

GasLog Ltd. and its Subsidiaries Notes to the consolidated financial statements (Continued) For the years ended December 31, 2017, 2018 and 2019 (All amounts expressed in thousands of U.S. Dollars, except share and per share data)    6. Tangible Fixed Assets and Vessels Under Construction


The movements in tangible fixed assets and vessels under construction are reported in the following table:


Vessels with an aggregate carrying amount of $4,407,156 as of December 31, 2019 (December 31, 2018: $4,304,252) have been pledged as collateral under the terms of the Group’s loan agreements (Note 13).


As of December 31, 2019, a number of increasingly strong negative indicators such as the difference between ship broker estimates of the fair market values and the carrying values of the Group’s Steam vessels, the lack of liquidity in the market for term employment for Steam vessels and reduced expectations for the estimated rates at which such term employment could be secured, together with the continued addition of modern, larger and more fuel efficient LNG carriers to the global fleet, prompted the Group to perform an impairment assessment of its vessels in accordance with the
## Table

|  | OPENING | NON‑CASH | NET CASH | CLOSING |
|---|---|---|---|---|
|  | BALANCE | MOVEMENTS | MOVEMENTS | BALANCE |
| 2019 | $M | $M | $M | $M |
| Current, unsecured |  |  |  |  |
| Short-term money market loans | 16 | 2 | 21 | 39 |
| Bank loans | 88 | 5 | 142 | 235 |
| Securities | 500 | – | (500) | – |
| Total current borrowings | 604 | 7 | (337) | 274 |
| Non‑current, unsecured |  |  |  |  |
| Bank loans | 540 | 36 | 102 | 678 |
| Securities | 1,668 | 110 | 400 | 2,178 |
| Unamortised borrowing costs | (9) | 5 | – | (4) |
| Finance leases | – | 6 | (3) | 3 |
| Total non‑current borrowings | 2,199 | 157 | 499 | 2,855 |
| Total | 2,803 | 164 | 162 | 3,129 |



## Text

This section provides a summary of the capital management activity of the Group during the period, including the Group’s borrowings. The Group manages its liquidity requirements with a range of short-term money market loans, bank loans, and flexible debt instruments with varying maturities.


The Group manages its capital structure with the objective of enhancing long-term shareholder value through funding its business at an optimised weighted average cost of capital.


The Group returns capital to shareholders when consistent with its long-term capital structure objectives and where it will enhance shareholder value. In May 2019, the Group returned $1.7 billion of capital to shareholders through an off-market share buy-back. This resulted in the purchase of 58.7 million shares which were subsequently cancelled. The share buy-back complements dividends of $1.4 billion paid to shareholders this reporting period through the 2018 final and special dividends, and the 2019 interim dividend, with a total of $3.1 billion returned to shareholders, excluding franking credits.


The Group remains committed to solid investment grade credit ratings and a number of actions can be undertaken to support the credit profile including the sale of non-core assets, further working capital initiatives, and adjusting growth capital expenditure and the property leasing profile. The Group’s credit ratings (1) are BBB (stable outlook) according to S&P and Baa2 (stable outlook) according to Moody’s.


In March 2019, the $500 million domestic Medium Term Notes matured. It was refinanced in April 2019 with $400 million of Medium Term Notes issued to meet the Group’s new Green Bond Framework (Green Bonds). The Green Bonds have been issued for a five-year tenor, maturing in April 2024.


In November 2019, $320 million of undrawn syndicated bank loan facilities are due to mature. The Group intends to refinance this facility at maturity.


(1) These credit ratings have been issued by a credit rating agency which holds an Australian Financial Services Licence with an authorisation to issue credit ratings to wholesale clients only and are for the benefit of the Group’s debt providers.
## Table

|  |  |  | As of and for the Years Ended December 31, |  |  |
|---|---|---|---|---|---|
|  | 2018 | Recognition of Net Periodic Benefits Expense | Deferrals | Net Change in AOCL | 2019 |
|  |  |  | (Dollars in millions) |  |  |
| Accumulated other comprehensive loss: |  |  |  |  |  |
| Pension plans: |  |  |  |  |  |
| Net actuarial (loss) gain | $(2,973) | 224 | (297) | (73) | (3,046) |
| Prior service benefit (cost) | 46 | (8) | 9 | 1 | 47 |
| Deferred income tax benefit (expense) | 754 | (53) | 69 | 16 | 770 |
| Total pension plans | (2,173) | 163 | (219) | (56) | (2,229) |
| Post-retirement benefit plans: |  |  |  |  |  |
| Net actuarial (loss) gain | 7 | — | (182) | (182) | (175) |
| Prior service (cost) benefit | (87) | 16 | — | 16 | (71) |
| Deferred income tax benefit (expense) | 22 | (4) | 44 | 40 | 62 |
| Total post-retirement benefit plans | (58) | 12 | (138) | (126) | (184) |
| Total accumulated other comprehensive loss | $(2,231) | 175 | (357) | (182) | (2,413) |



## Text

Accumulated Other Comprehensive Loss-Recognition and Deferrals


The following table presents cumulative items not recognized as a component of net periodic benefits expense as of December 31, 2018, items recognized as a component of net periodic benefits expense in 2019, additional items deferred during 2019 and cumulative items not recognized as a component of net periodic benefits expense as of December 31, 2019. The items not recognized as a component of net periodic benefits expense have been recorded on our consolidated balance sheets in accumulated other comprehensive loss:
## Table

| Description | Balance at Beginning of Period |  | Write-offs | Other | Balance at End of Period |
|---|---|---|---|---|---|
| Allowance for doubtful accounts |  |  |  |  |  |
| 2019 | $1.0 | $1.0 | $(0.8) | $0.0 | $1.2 (1) |
| 2018 | $1.1 | $0.7 | $(0.8) | $0.0 | $1.0 (1) |
| 2017 | $9.1 | $1.0 | $(0.9) | $0.0 | $1.1 (1) (2) |
| Allowance for sales returns (4) |  |  |  |  |  |
| 2019 | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 |
| 2018 | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 |
| 2017 | $1.4 | $1.4 | $0.0 | $(1.4) (3) | $1.4 |
| Allowance for inventory returns (5) |  |  |  |  |  |
| 2019 | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 |
| 2018 | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 |
| 2017 | $(0.6) | $(0.5) | $0.0 | $0.6 (3) | $(0.5) |
| Allowance for deferred tax assets |  |  |  |  |  |
| 2019 | $18.3 | $(0.3) | $0.0 | $(1.2) | $16.8) |
| 2018 | $18.3 | $(0.3) | $0.0 | $0.3 | $18.3 |
| 2017 | $69.0 | $(28.6) | $(2.9) | $(19.2) | $18.3 |



## Text

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS


For the years ended December: (in millions)


(1) Excludes approximately $5.6 million of reserves related to notes receivable and tax refund receivables originated in 2016.


(2) Excludes approximately $0.4 million of reserves related to non-trade receivables.


(3) Amounts represent gross revenue and cost reversals to the estimated sales returns and allowances accounts.


(4) Amounts in 2019 and 2018 are reported within accrued expenses and other current liabilities, as Product Returns Liability (see Note 4 and 9).


(5) Amounts in 2019 and 2018 are reported within prepaid expenses and other current assets.
## Table

|  |  | For the year ended December 31, |  |
|---|---|---|---|
|  | 2017 | 2018 | 2019 |
| Basic earnings/(loss) per share |  |  |  |
| Profit/(loss) for the year attributable to owners of the Group | 15,506 | 47,683 | (100,661) |
| Less: Dividends on Preference Shares | (10,064) | (10,063) | (10,063) |
| Profit/(loss) for the year available to owners of the Group | 5,442 | 37,620 | (110,724) |
| Weighted average number of shares outstanding, basic | 80,622,788 | 80,792,837 | 80,849,818 |
| Basic earnings/(loss) per share | 0.07 | 0.47 | (1.37) |
| Diluted earnings/(loss) per share |  |  |  |
| Profit/(loss) for the year available to owners of the Group used in the calculation of diluted EPS | 5,442 | 37,620 | (110,724) |
| Weighted average number of shares outstanding, basic | 80,622,788 | 80,792,837 | 80,849,818 |
| Dilutive potential ordinary shares | 643,342 | 844,185 | — |
| Weighted average number of shares used in the calculation of diluted EPS | 81,266,130 | 81,637,022 | 80,849,818 |
| Diluted earnings/(loss) per share | 0.07 | 0.46 | (1.37) |



## Text

GasLog Ltd. and its Subsidiaries
Notes to the consolidated financial statements (Continued)
For the years ended December 31, 2017, 2018 and 2019
(All amounts expressed in thousands of U.S. Dollars, except share and per share data)


29. Earnings/(losses) per share (‘‘EPS’’)


Basic earnings/(losses) per share was calculated by dividing the profit/(loss) for the year attributable to the owners of the common shares after deducting the dividend on Preference Shares by the weighted average number of common shares issued and outstanding during the year.


Diluted EPS is calculated by dividing the profit/(loss) for the year attributable to the owners of the Group adjusted for the effects of all dilutive potential ordinary shares by the weighted average number of all potential ordinary shares assumed to have been converted into common shares, unless such potential ordinary shares have an antidilutive effect.


The following reflects the earnings/(losses) and share data used in the basic and diluted earnings/ (losses) per share computations:


The Group excluded the effect of 2,630,173 SARs and 367,162 RSUs in calculating diluted EPS for the year ended December 31, 2019, as they were anti-dilutive (December 31, 2018: 555,453 SARs and 0 RSUs, December 31, 2017: 998,502 SARs and 0 RSUs).
## Table

| (In thousands) | 2019 | 2018 | 2017 |
|---|---|---|---|
| Current |  |  |  |
| Federal | $(518) | $(8,001) | $466 |
| State | (1,065) | (476) | (150) |
| International | (282) | 11,705 | 6,458 |
| Total Current | (1,865) | 3,228 | 6,774 |
| Deferred |  |  |  |
| Federal | 24,801 | (14,448) | 8,024 |
| State | 5,815 | (3,390) | 1,882 |
| International | (546) | 581 | 4,167 |
| Total Deferred | 30,070 | (17,257) | 14,073 |
| Total Income Tax Expense (Benefit) | $28,205 | $(14,029) | $20,847 |



## Text

Note 13 – Income Taxes


A summary of the components of the expense (benefit) for income taxes for the years ended December 31, 2019, 2018 and 2017 is as follows:
## Table

|  |  | Year Ended December 31, |  |
|---|---|---|---|
|  | 2019 | 2018 | 2017 |
|  |  | (in thousands, except per share data)    |  |
| Net income    | $ 85,762 | $ 104,690 | $ 116,481 |
| Earnings per share： |  |  |  |
| Basic    | $ 1.33 | $ 1.58 | $ 1.68 |
| Effect of CESs      | (0.01 )    | - | - |
| Diluted    | $ 1.32 | $ 1.58 | $ 1.68 |
| Weighted average number of shares: |  |  |  |
| Basic      | 64,397 | 66,201 | 69,175 |
| Effect of CESs      | 706 | 233 | 249 |
| Diluted      | 65,103 | 66,434 | 69,424 |



## Text

Basic and Diluted Net Income Per Share
Basic net income per share is computed using net income divided by the weighted average number of shares of common stock
outstanding (“Weighted Shares”) for the period presented.


Diluted net income per share is computed using net income divided by Weighted Shares and the treasury stock method effect of common equivalent shares (“CESs”) outstanding for each period presented. In the following table, we present a reconciliation of earnings per share and the shares used in the computation of earnings per share for the years ended December 31, 2019, 2018 and 2017 (in thousands, except per share data):
common equivalent shares (“CESs”) outstanding for each period presented. In the following table, we present a reconciliation of
earnings per share and the shares used in the computation of earnings per share for the years ended December 31, 2019, 2018 and
2017 (in thousands, except per share data):


The number of anti-dilutive CESs in 2019, 2018 and 2017 was immaterial. See Note 2 for further information on those securities.
## Table

|  |  | Year Ended December 31, |  |
|---|---|---|---|
|  | 2019 | 2018 | 2017 |
|  |  | (Dollars in millions) |  |
| Adjusted EBITDA |  |  |  |
| International and Global Accounts | $2,286 | 2,341 | 821 |
| Enterprise | 3,490 | 3,522 | 2,456 |
| Small and Medium Business | 1,870 | 2,013 | 1,581 |
| Wholesale | 3,427 | 3,666 | 2,566 |
| Consumer | 4,914 | 5,105 | 5,136 |
| Total segment EBITDA | $15,987 | 16,647 | 12,560 |
| Operations and Other EBITDA | (7,216) | (8,045) | (6,504) |
| Total adjusted EBITDA | $8,771 | 8,602 | 6,056 |



## Text

Reconciliation of segment EBITDA to total adjusted EBITDA is below:


For additional information on our reportable segments and product and services categories, see Note 17— Segment Information to our consolidated financial statements in Item 8 of Part II of this report.
## Table

|  | 2019 | 2018 | 2017 |
|---|---|---|---|
| At 31 March | £m | £m | £m |
| Current liabilities |  |  |  |
| Listed bonds | 1,367 | 1,702 | 1,539 |
| Finance leases | 16 | 18 | 15 |
| Bank loans | – | – | 352 |
| Other loans and bank overdrafts a | 717 | 561 | 726 |
| Total current liabilities | 2,100 | 2,281 | 2,632 |
| Non-current liabilities |  |  |  |
| Listed bonds | 14,586 | 11,789 | 9,866 |
| Finance leases | 190 | 205 | 214 |
| Other loans | – | – | 1 |
| Total non-current liabilities | 14,776 | 11,994 | 10,081 |
| Total | 16,876 | 14,275 | 12,713 |



## Text

25. Loans and other borrowings continued


Loans and other borrowings are analysed as follows:


a Includes collateral received on swaps of £638m (2017/18: £525m, 2016/17: £702m).


The carrying values disclosed in the above table reflect balances at amortised cost adjusted for accrued interest and fair value adjustments to the relevant loans or borrowings. These do not reflect the final principal repayments that will arise after taking account of the relevant derivatives in hedging relationships which are reflected in the table below. Apart from finance leases, all borrowings as at 31 March 2019, 2018 and 2017 were unsecured.