feyninc/tacha huggingface dataset:
## Table

|  | 2019 | 2018 | 2017 |
|---|---|---|---|
|  | €m | €m | €m |
| Net foreign exchange losses/(gains)1 | 1 | (65) | 133 |
| Depreciation of property, plant and equipment (note 11): |  |  |  |
| Owned assets | 5,795 | 5,963 | 6,253 |
| Leased assets | 59 | 47 | 12 |
| Amortisation of intangible assets (note 10) | 3,941 | 4,399 | 4,821 |
| Impairment of goodwill in subsidiaries, associates and joint arrangements (note 4) | 3,525 | – | – |
| Staff costs (note 23) | 5,267 | 5,295 | 5,519 |
| Amounts related to inventory included in cost of sales | 5,886 | 6,045 | 6,464 |
| Operating lease rentals payable | 3,826 | 3,788 | 3,976 |
| Loss on disposal of property, plant and equipment and intangible assets | 33 | 36 | 22 |
| Own costs capitalised attributable to the construction or acquisition of property, plant and equipment | (844) | (829) | (800) |
| Net gain on formation of VodafoneZiggo (note 26)2 | – | – | (1,275) |



## Text

3. Operating (loss)/profit


Detailed below are the key amounts recognised in arriving at our operating (loss)/profit


Notes: 1 The year ended 31 March 2019 included €nil (2018: €80 million credit, 2017: €127 million charge) reported in other income and expense in the consolidated income statement


2 Reported in other income and expense in the consolidated income statement.
## Table

| (In millions) |  |  |  |
|---|---|---|---|
| Year Ended June 30, | 2019 | 2018 | 2017 |
| Revenue |  |  |  |
| Productivity and Business Processes | $ 41,160 | $ 35,865 | $ 29,870 |
| Intelligent Cloud | 38,985 | 32,219 | 27,407 |
| More Personal Computing | 45,698 | 42,276 | 39,294 |
| Total | $  125,843 | $   110,360 | $   96,571 |
| Operating Income (Loss) |  |  |  |
| Productivity and Business Processes | $ 16,219 | $ 12,924 | $ 11,389 |
| Intelligent Cloud | 13,920 | 11,524 | 9,127 |
| More Personal Computing | 12,820 | 10,610 | 8,815 |
| Corporate and Other | 0 | 0 | (306) |
| Total | $ 42,959 | $ 35,058 | $ 29,025 |



## Text

Revenue and costs are generally directly attributed to our segments. However, due to the integrated structure of our business, certain revenue recognized and costs incurred by one segment may benefit other segments. Revenue from certain contracts is allocated among the segments based on the relative value of the underlying products and services, which can include allocation based on actual prices charged, prices when sold separately, or estimated costs plus a profit margin. Cost of revenue is allocated in certain cases based on a relative revenue methodology. Operating expenses that are allocated primarily include those relating to marketing of products and services from which multiple segments benefit and are generally allocated based on relative gross margin.


In addition, certain costs incurred at a corporate level that are identifiable and that benefit our segments are allocated to them. These allocated costs include costs of: legal, including settlements and fines; information technology; human resources; finance; excise taxes; field selling; shared facilities services; and customer service and support. Each allocation is measured differently based on the specific facts and circumstances of the costs being allocated. Certain corporate-level activity is not allocated to our segments, including restructuring expenses.


Segment revenue and operating income were as follows during the periods presented:


Corporate and Other operating loss comprised restructuring expenses.
## Table

|  | 2019 | 2018 | 2017 |
|---|---|---|---|
| Statements of Operations: |  |  |  |
| Revenue | $10,310 | $12,629 | $12,149 |
| Cost of revenue | 4,405 | 6,295 | 6,627 |
| Gross profit | 5,905 | 6,334 | 5,522 |
| Operating expenses: |  |  |  |
| Research and development | 12,350 | 9,948 | 9,572 |
| Selling, general and administrative | 8,918 | 9,982 | 9,900 |
| Loss from operations | (15,363) | (13,596) | (13,950) |
| Interest expense | (350) | (108) | (115) |
| Interest income and other expense, net | 189 | 77 | 21 |
| Loss before income taxes | (15,524) | (13,627) | (14,044) |
| (Benefit from) Provision for income taxes | (80) | 152 | 87 |
| Net loss | $(15,444) | $(13,779) | $(14,131) |
| Net loss per share: (1) |  |  |  |
| Basic and diluted | $(2.02) | $(2.16) | $(2.56) |
| Weighted average shares: |  |  |  |
| Basic and diluted | 7,663 | 6,365 | 5,521 |



## Text

Note: Net loss equals to comprehensive loss for all years presented.


(1) Net loss per share and weighted average shares, basic and diluted are adjusted to reflect 1-for-14 reverse stock split effected on December 23, 2019.


The accompanying notes form an integral part of these Consolidated Financial Statements.


CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share amounts)
## Table

|  |  |  | Year ended March 31, |  |  |
|---|---|---|---|---|---|
| (In thousands, except per share data) | 2019 | 2018 | 2017 | 2016 | 2015 |
| Operating results |  |  |  |  |  |
| Net revenue | $140,842 | $127,360 | $127,678 | $120,366 | $103,514 |
| Gross profit | 73,880 | 64,417 | 63,785 | 68,106 | 60,081 |
| Operating loss | (13,081) | (12,080) | (11,408) | (4,313) | (12,467) |
| Operating loss, net of taxes | (13,164) | (8,350) | (11,721) | (3,765) | (11,497) |
| Net loss | $(13,164) | $(8,350) | $(11,721) | $(3,765) | $(11,497) |
| Per share data (1) |  |  |  |  |  |
| Basic and diluted |  |  |  |  |  |
| Net loss | $(0.57) | $(0.37) | $(0.52) | $(0.17) | $(0.51) |
| Weighted-average shares outstanding - basic and diluted | 23,037 | 22,801 | 22,615 | 22,483 | 22,338 |
| Balance sheet data at year end |  |  |  |  |  |
| Cash and cash equivalents | $40,771 | $39,943 | $49,255 | $60,608 | $75,067 |
| Working capital | 20,707 | 19,343 | 27,183 | 41,401 | 54,407 |
| Total assets | 163,591 | 157,207 | 167,305 | 185,157 | 181,525 |
| Total debt | 57 | 177 | 237 | 333 | 189 |
| Total shareholders’ equity | 100,622 | 108,431 | 113,669 | 123,473 | 124,188 |



## Text

Item 6. Selected Financial Data.


The following selected consolidated financial and operating data was derived from our audited consolidated financial statements. The selected financial data should be read in conjunction with the Consolidated Financial Statements and Notes thereto, and Item 7 contained in Part II of this Annual Report.


(1) When a loss is reported, the denominator of diluted earnings per share cannot be adjusted for the dilutive impact of share-based compensation awards because doing so would be anti-dilutive. In addition, when a loss from continuing operations is reported, adjusting the denominator of diluted earnings per share would also be anti-dilutive to the loss per share, even if the entity has net income after adjusting for a discontinued operation.


Therefore, for all periods presented, basic weighted-average shares outstanding were used in calculating the diluted net loss per share.
## Table

|  |  | Fiscal 2019 |  |  |
|---|---|---|---|---|
|  | Probe Cards | Systems | Corporate and Other | Total |
| Gross profit | $211,382 | $50,927 | $(24,813) | $237,496 |
| Gross margin | 43.0 % | 51.9 % | — % | 40.3 % |
| Fiscal 2018 |  |  |  |  |
|  | Probe Cards | Systems | Corporate and Other | Total |
| Gross profit | $187,320 | $47,074 | $(24,055) | $210,339 |
| Gross margin | 43.1 % | 49.3 % | — % | 39.7 % |
| Fiscal 2017 |  |  |  |  |
|  | Probe Cards | Systems | Corporate and Other | Total |
| Gross profit | $195,903 | $46,647 | $(26,953) | $215,597 |
| Gross margin | 43.1 % | 49.8 % | — % | 39.3 % |



## Text

Cost of Revenues and Gross Margins


Cost of revenues consists primarily of manufacturing materials, payroll, shipping and handling costs, manufacturing-related overhead and amortization of certain intangible assets. Our manufacturing operations rely on a limited number of suppliers to provide key components and materials for our products, some of which are a sole source. We order materials and supplies based on backlog and forecasted customer orders.


Tooling and setup costs related to changing manufacturing lots at our suppliers are also included in the cost of revenues. We expense all warranty costs, inventory provisions and amortization of certain intangible assets as cost of revenues. Gross profit and gross margin by segment were as follows (dollars in thousands):


Probe Cards Gross profit in the Probe Cards segment increased in fiscal 2019 compared to fiscal 2018 primarily due to increased sales, offset by higher variable costs and by less favorable product mix.


Systems Gross profit and gross margin in the Systems segment increased in fiscal 2019 compared to fiscal 2018 due to increased sales.


Corporate and Other Corporate and Other includes unallocated expenses relating to amortization of intangible assets, share-based compensation, restructuring charges, net, and acquisition-related costs, including charges related to inventory stepped up to fair value and other costs, which are not used in evaluating the results of, or in allocating resources to, our reportable segments.


Overall Gross profit and gross margin fluctuate with revenue levels, product mix, selling prices, factory loading and material costs. For fiscal 2019 compared to fiscal 2018, gross profit increased due to increased sales while gross margins remained relatively consistent with fluctuations in product mix.


Stock-based compensation expense included in gross profit for fiscal 2019 and 2018 was $4.1 million and $3.5 million, respectively.
## Table

|  | Dry Bulk Vessel Operations for the Year Ended December 31, 2019 | Logistics Business for the Year Ended December 31, 2019 | Total for the Year Ended December 31, 2019 |
|---|---|---|---|
| Revenue | $254,178 | $228,271 | $482,449 |
| Administrative fee revenue from affiliates | 16,991 | — | 16,991 |
| Interest income | 9,610 | 1,052 | 10,662 |
| Interest expense and finance cost | (92,948) | (40,531) | (133,479) |
| Depreciation and amortization | (52,288) | (29,435) | (81,723) |
| Equity in net (losses)/earnings of affiliated companies | (9,185) | — | (9,185) |
| Net (loss)/ income attributable to Navios Holdings common |  |  |  |
| stockholders | (212,623) | 20,513 | (192,110) |
| Total assets | 1,511,517 | 631,338 | 2,142,855 |
| Goodwill | 56,240 | 104,096 | 160,336 |
| Capital expenditures | (36,628) | (7,943) | (44,571) |
| Investment in affiliates | 64,352 | — | 64,352 |
| Cash and cash equivalents | 32,386 | 45,605 | 77,991 |
| Restricted cash | 736 | — | 736 |
| Long-term debt, net (including current and noncurrent portion) | $1,048,318 | $514,929 | 1,563,247 |



## Text

NAVIOS MARITIME HOLDINGS INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Expressed in thousands of U.S. dollars — except share data)


NOTE 19: SEGMENT INFORMATION


The Company through August 30, 2019 had three reportable segments from which it derived its revenues: Dry Bulk Vessel Operations, Logistics Business and Containers Business. The Containers Business became a reportable segment as a result of the consolidation of Navios Containers since November 30, 2018 (date of obtaining control) (see also Note 3). Following the reclassification of the results of Navios Containers as discontinued operations (see also Note 3), the Company currently has two reportable segments from which it derives its revenues: Dry Bulk Vessel Operations and Logistics. The reportable segments reflect the internal organization of the Company and are strategic businesses that offer different products and services. The Dry Bulk Vessel Operations consists of the transportation and handling of bulk cargoes through the ownership, operation, and trading of vessels. The Logistics Business consists of operating ports and transfer station terminals, handling of vessels, barges and pushboats as well as upriver transport facilities in the Hidrovia region.


The Company measures segment performance based on net income/ (loss) attributable to Navios Holdings common stockholders. Inter-segment sales and transfers are not significant and have been eliminated and are not included in the following tables. Summarized financial information concerning each of the Company’s reportable segments is as follows:
## Table

|  | Unaudited |  |  |  |
|---|---|---|---|---|
|  | Three months ended |  |  |  |
|  | 31 December 2019 |  | 31 December 2018 |  |
|  |  | % of total |  | % of total |
|  | Amount | revenues | Amount | revenues |
|  |  |  | (Restated) | (Restated) |
|  | (RMB in millions, unless specified) |  |  |  |
| VAS | 52,308 | 50% | 43,651 | 51% |
| FinTech and Business Services | 29,920 | 28% | 21,597 | 26% |
| Online Advertising | 20,225 | 19% | 17,033 | 20% |
| Others | 3,314 | 3% | 2,615 | 3% |
| Total revenues | 105,767 | 100% | 84,896 | 100% |



## Text

Revenues. Revenues increased by 25% to RMB105.8 billion for the fourth quarter of 2019 on a year-on-year basis. The following table sets forth our revenues by line of business for the fourth quarter of 2019 and the fourth quarter of 2018:


Revenues from VAS increased by 20% to RMB52,308 million for the fourth quarter of 2019 on a year-on-year basis. Online games revenues grew by 25% to RMB30,286 million. The increase was primarily driven by revenue growth from smart phone games in both domestic and overseas markets, including titles such as Peacekeeper Elite and PUBG Mobile, as well as revenue contributions from Supercell titles, partly offset by lower revenues from PC client games such as DnF. Social networks revenues increased by 13% to RMB22,022 million. The increase mainly reflected greater contributions from digital content services such as live broadcast and music streaming services. Total smart phone games revenues (including smart phone games revenues attributable to our social networks business) were RMB26,035 million and PC client games revenues were RMB10,359 million for the fourth quarter of 2019.


Revenues from FinTech and Business Services increased by 39% to RMB29,920 million for the fourth quarter of 2019 on a year-on-year basis. The increase was primarily due to greater revenue contributions from commercial payment, as well as revenue growth from cloud services as a result of deeper penetration in key verticals.


Revenues from Online Advertising increased by 19% to RMB20,225 million for the fourth quarter of 2019 on a year-onyear basis. Social and others advertising revenues increased by 37% to RMB16,274 million. The increase was mainly driven by advertising revenue growth from Weixin Moments and our mobile advertising network. Media advertising revenues decreased by 24% to RMB3,951 million. The decrease primarily reflected lower advertising revenues from our media platforms including Tencent Video and Tencent News due to uncertain broadcasting schedules and fewer telecasts of sports events.
## Table

| As of December 31, |  |  |  |  |
|---|---|---|---|---|
|  | 2018 |  | 2019 |  |
| Investee companies | Amount | Percentage of ownership or voting rights | Amount | Percentage of ownership or voting rights |
|  | NT$ (In Thousands) |  | NT$ (In Thousands) |  |
| Listed companies |  |  |  |  |
| CLIENTRON CORP. | $249,663 | 22.39 | $276,515 | 21.90 |
| FARADAY TECHNOLOGY CORP. (FARADAY) (Note A) | 1,483,111 | 13.78 | 1,473,028 | 13.78 |
| Unlisted companies |  |  |  |  |
| MTIC HOLDINGS PTE. LTD. | 3,026 | 45.44 | 18,157 | 45.44 |
| WINAICO IMMOBILIEN GMBH (Note B) | — | 44.78 | — | 44.78 |
| PURIUMFIL INC. | — | — | 7,164 | 44.45 |
| UNITECH CAPITAL INC. | 568,005 | 42.00 | 642,660 | 42.00 |
| TRIKNIGHT CAPITAL CORPORATION | 1,520,575 | 40.00 | 2,281,631 | 40.00 |
| HSUN CHIEH INVESTMENT CO., LTD. | 1,608,551 | 36.49 | 1,686,502 | 36.49 |
| YANN YUAN INVESTMENT CO., LTD. | 2,032,013 | 30.87 | 2,761,821 | 30.87 |
| HSUN CHIEH CAPITAL CORP. | 161,319 | 30.00 | 122,060 | 30.00 |
| VSENSE CO., LTD. | 31,544 | 26.89 | 592 | 25.90 |
| UNITED LED CORPORATION HONG KONG LIMITED | 167,953 | 25.14 | 121,973 | 25.14 |
| TRANSLINK CAPITAL PARTNERS I, L.P. (Note C) | 120,440 | 10.38 | 172,414 | 10.38 |
| WINAICO SOLAR PROJEKT 1 GMBH (Note B) | — | 50.00 | — | — |
| YUNG LI INVESTMENTS, INC. | 2,213 | 45.16 | — | — |
| Total | $7,948,413 |  | $9,564,517 |  |



## Text

Note A: Beginning from June 2015, the Company accounts for its investment in FARADAY as an associate given the fact that the Company obtained the ability to exercise significant influence over FARADAY through representation on its Board of Directors.


Note B: WINAICO SOLAR PROJEKT 1 GMBH and WINAICO IMMOBILIEN GMBH are joint ventures to the Company.


Note C: The Company follows international accounting practices in equity accounting for limited partnerships and uses the equity method to account for these investees.


The carrying amount of investments accounted for using the equity method for which there are published price quotations amounted to NT$1,733 million and NT$1,750 million, as of December 31, 2018 and 2019, respectively. The fair value of these investments were NT$1,621 million and NT$2,244 million, as of December 31, 2018 and 2019, respectively.
## Table

| ($ in millions) | First Quarter | Second Quarter | Third Quarter | Fourth Quarter |
|---|---|---|---|---|
| Results of Operations |  |  |  |  |
| Fiscal Year 2019 |  |  |  |  |
| Net sales | $572.4 | $556.5 | $609.9 | $641.4 |
| Gross profit | $91.7 | $107.0 | $123.2 | $122.9 |
| Operating income | $45.0 | $55.4 | $73.2 | $67.9 |
| Net income | $31.5 | $35.5 | $51.1 | $48.9 |
| Fiscal Year 2018 |  |  |  |  |
| Net sales | $479.8 | $487.8 | $572.2 | $618.0 |
| Gross profit | $85.6 | $85.7 | $96.1 | $114.9 |
| Operating income | $42.2 | $41.4 | $45.7 | $60.0 |
| Net income | $23.4 | $92.1 | $30.2 | $42.8 |



## Text

Quarterly Financial Data (Unaudited)


Quarterly sales and earnings results are normally influenced by seasonal factors. Historically, the first two fiscal quarters (three months ending September 30 and December 31) are typically the lowest principally because of annual plant vacation and maintenance shutdowns by the Company and by many of its customers. However, the timing of major changes in the general economy or the markets for certain products can alter this pattern.


During the quarter ended December 31, 2017, the Company recorded an income tax benefit. See Note 17, Income Taxes to Notes to Consolidated Financial Statements included in Item 8. “Financial Statements and Supplementary Data”.
## Table

|  | Year Ended June 30, |  |  |
|---|---|---|---|
|  | 2019 | 2018 | 2017 |
|  | (in millions) |  |  |
| Included in: |  |  |  |
| Operating costs | $11.3 | $9.9 | $11.3 |
| Selling, general and administrative expenses | 98.0 | 86.8 | 102.8 |
| Total stock-based compensation expense | $109.3 | $96.7 | $114.1 |
| CII common and preferred units $ — $ — $10.1 | $ — | $ — | $10.1 |
| Part A restricted stock units | 93.8 | 82.3 | 76.5 |
| Part B restricted stock units | 13.0 | 12.4 | 26.0 |
| Part C restricted stock units | 2.5 | 2.0 | 1.5 |
| Total stock-based compensation expense | $109.3 | $96.7 | $114.1 |



## Text

(11) STOCK-BASED COMPENSATION


The following tables summarize the Company’s stock-based compensation expense for liability and equity classified awards included in the consolidated statements of operations:


CII Common and Preferred Units


Prior to the Company’s IPO, the Company was given authorization by Communications Infrastructure Investments, LLC (“CII”) to award 625,000,000 of CII’s common units as profits interests to employees, directors, and affiliates of the Company. The common units were historically considered to be stock-based compensation with terms that required the awards to be classified as liabilities due to cash settlement features. The vested portion of the awards was reported as a liability and the fair value was re-measured at each reporting date until the date of settlement, with a corresponding charge (or credit) to stock-based compensation expense. On December 31, 2016, the CII common units became fully vested and as such there is no remaining unrecognized compensation cost associated with CII common units for any period subsequent to December 31, 2016.


The value of the CII common units was derived from the value of CII’s investments in the Company and Onvoy, LLC and its subsidiaries (“OVS”), a company that provided voice and managed services which the Company spun off during the year ended June 30, 2014. As the value derived from each of these investments was separately determinable and there was a plan in place to distribute the value associated with the investment in Company shares separate from the value derived from OVS, the two components were accounted for separately. The OVS component of the CII awards was adjusted to fair value each reporting period. On December 31, 2015, CII entered into an agreement to sell OVS to a third party. The sale was completed in May 2016. Based on the sale price, the estimated fair value of OVS awards was increased, resulting in an increase to stock based compensation expense and corresponding increase to additional paid-in capital of $12.9 million for the year ended June 30, 2016. Proceeds from the sale to be distributed to the Company’s employees was paid by CII.
## Table

|  | Year ended December 31, 2019 | Year ended December 31, 2018 | Year ended December 31, 2017 |
|---|---|---|---|
| Income tax benefit (expense) computed at statutory rate | (297) | (353) | (238) |
| Non-deductible and non-taxable permanent differences, net | 4 | 45 | 17 |
| Income (loss) on equity-method investments | — | — | — |
| Valuation allowance adjustments | 2 | 141 | 92 |
| Effect on deferred taxes of changes in enacted tax rates | 14 | (62) | (70) |
| Current year credits | 50 | 43 | 40 |
| Other tax and credits | (51) | (20) | (36) |
| Benefits from tax holidays | 129 | 135 | 114 |
| Net impact of changes to uncertain tax positions | (5) | (16) | (43) |
| Earnings of subsidiaries taxed at different rates | (2) | (9) | (19) |
| Income tax benefit (expense) | (156) | (96) | (143) |



## Text

The tax holidays represent a tax exemption period aimed to attract foreign technological investment in certain tax jurisdictions. The effect of the tax benefits, from tax holidays for countries which are profitable, on basic earnings per share was $0.14, $0.15 and $0.13 for the years ended December 31, 2019, 2018, and 2017, respectively. These agreements are present in various countries and include programs that reduce up to and including 100% of taxes in years affected by the agreements.


The Company’s tax holidays expire at various dates through the year ending December 31, 2028. In certain countries, tax holidays can be renewed depending on the Company still meeting certain conditions at the date of expiration of the current tax holidays.


In May 2019, Switzerland voted a tax reform which cancelled all favourable tax regimes and introduced a single tax rate for all companies, which triggered the revaluation of all deferred tax assets and liabilities. Enactment of this law occurred in third quarter of 2019, which resulted in a tax benefit of $20 million. The remeasurement of deferred taxes was reconciled in the fourth quarter of 2019 to include the current year activity, which did not have a material impact on the net remeasurement.