feyninc/tacha huggingface dataset:
## Table

|  | Balance as of August 31, 2018 | Adjustments due to adoption of ASU 2014-09 | Balance as of September 1, 2018 |
|---|---|---|---|
| Assets |  |  |  |
| Contract assets(1) | $— | $591,616 | $591,616 |
| Inventories, net(1) | $3,457,706 | $(461,271) | $2,996,435 |
| Prepaid expenses and other current assets(1)(2) | $1,141,000 | $(37,271) | $1,103,729 |
| Deferred income taxes(1)(2) | $218,252 | $(8,325) | $209,927 |
| Liabilities |  |  |  |
| Contract liabilities(2)(3) | $— | $690,142 | $690,142 |
| Deferred income(2)(3)(4) | $691,365 | $(691,365) | $— |
| Other accrued expenses(3)(4) | $1,000,979 | $40,392 | $1,041,371 |
| Deferred income taxes(1) | $114,385 | $2,977 | $117,362 |
| Equity |  |  |  |
| Retained earnings(1)(2) | $1,760,097 | $42,602 | $1,802,699 |



## Text

18. Revenue


Effective September 1, 2018, the Company adopted ASU 2014-09, Revenue Recognition (Topic 606). The new standard is a comprehensive new revenue recognition model that requires the Company to recognize revenue in a manner which depicts the transfer of goods or services to its customers at an amount that reflects the consideration the Company expects to receive in exchange for those goods or services.


Prior to the adoption of the new standard, the Company recognized substantially all of its revenue from contracts with customers at a point in time, which was generally when the goods were shipped to or received by the customer, title and risk of ownership had passed, the price to the buyer was fixed or determinable and collectability was reasonably assured (net of estimated returns). Under the new standard, the Company recognizes revenue over time for the majority of its contracts with customers which results in revenue for those customers being recognized earlier than under the previous guidance. Revenue for all other contracts with customers continues to be recognized at a point in time, similar to recognition prior to the adoption of the standard.


Additionally, the new standard impacts the Company’s accounting for certain fulfillment costs, which include upfront costs to prepare for manufacturing activities that are expected to be recovered. Under the new standard, such upfront costs are recognized as an asset and amortized on a systematic basis consistent with the pattern of the transfer of control of the products or services to which to the asset relates.


The Company adopted ASU 2014-09 using the modified retrospective method by applying the guidance to all open contracts upon adoption and recorded a cumulative effect adjustment as of September 1, 2018, net of tax,  effect adjustment (in thousands):


(1) Differences primarily relate to the timing of revenue recognition for over time customers and certain balance sheet reclassifications.


(2) Differences primarily relate to the timing of recognition and recovery of fulfillment costs and certain balance sheet reclassifications.


(3) Included within accrued expenses on the Consolidated Balance Sheets.


(4) Differences included in contract liabilities as of September 1, 2018.
## Table

|  |  | As of December 31, |  |  |
|---|---|---|---|---|
|  | 2019 |  | 2018 |  |
|  | Buy (Sell) | Notional Amount | Buy (Sell) |  Notional Amount |
| Japanese Yen | $49.8 | $49.8 | $29.9 | $29.9 |
| Philippine Peso | 36.4 | 36.4 | 30.1 | 30.1 |
| Malaysian Ringgit | 20.4 | 20.4 | — | — |
| Chinese Yuan | 20.2 | 20.2 | 20.4 | 20.4 |
| Korean Won | 18.1 | 18.1 | 20.8 | 20.8 |
| Czech Koruna | 11.9 | 11.9 | 9.2 | 9.2 |
| Euro | — | — | 13.1 | 13.1 |
| Other currencies - Buy | 21.9 | 21.9 | 26.3 | 26.3 |
| Other currencies - Sell | (4.6) | 4.6 | (7.5) | 7.5 |
|  | $174.1 | $183.3 | $142.3 | $157.3 |



## Text

Foreign Currencies


As a multinational business, the Company's transactions are denominated in a variety of currencies. When appropriate, the Company uses forward foreign currency contracts to reduce its overall exposure to the effects of currency fluctuations on its results of operations and cash flows. The Company's policy prohibits trading in currencies for which there are no underlying exposures and entering into trades for any currency to intentionally increase the underlying exposure.


The Company primarily hedges existing assets and liabilities associated with transactions currently on its balance sheet, which are undesignated hedges for accounting purposes.


As of December 31, 2019 and 2018, the Company had net outstanding foreign exchange contracts with net notional amounts of $183.3 million and $157.3 million, respectively. Such contracts were obtained through financial institutions and were scheduled to mature within one to three months from the time of purchase.


Management believes that these financial instruments should not subject the Company to increased risks from foreign exchange movements because gains and losses on these contracts should offset losses and gains on the underlying assets, liabilities and transactions to which they are related.


The following schedule summarizes the Company's net foreign exchange positions in U.S. dollars (in millions):


Amounts receivable or payable under the contracts are included in other current assets or accrued expenses in the accompanying Consolidated Balance Sheets. For the years ended December 31, 2019, 2018 and 2017, realized and unrealized foreign currency transactions totaled a loss of $5.0 million, $8.0 million and $6.3 million, respectively. The realized and unrealized foreign currency transactions are included in other income and expenses in the Company's Consolidated Statements of Operations and Comprehensive Income.
## Table

|  |  | Fiscal Years Ended March 31, |  |
|---|---|---|---|
|  | 2019 | 2018 | 2017 |
| Net income (GAAP) (1) | $206,587 | $254,127 | $47,157 |
| Non-GAAP adjustments: |  |  |  |
| 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 |
| Restructuring charges (2) | 8,779 | 14,843 | 5,404 |
| R&D grant reimbursements and grant income | (4,559) | — | — |
| ERP integration costs/IT transition costs | 8,813 | 80 | 7,045 |
| Stock-based compensation | 12,866 | 7,657 | 4,720 |
| 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 |
| Amortization included in interest expense | 1,872 | 2,467 | 761 |
| Income tax effect of non-GAAP adjustments | (50,012) | (30) | (741) |
| Loss on early extinguishment of debt | 15,946 | 486 | — |
| Adjusted net income (non-GAAP) (1) | $208,995 | $102,276 | $23,084 |



## Text

The following table provides a reconciliation from U.S. GAAP Net income to non-GAAP Adjusted net income (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

|  |  | Fiscal Years Ended March 31, |  |
|---|---|---|---|
|  | 2019 | 2018 | 2017 |
| Net sales (1) | $1,382,818 | $1,200,181 | $757,338 |
| Operating costs and expenses: |  |  |  |
| Cost of sales (1) | 924,276 | 860,744 | 571,944 |
| Selling, general and administrative expenses | 202,642 | 173,620 | 107,658 |
| Research and development (1) | 44,612 | 39,114 | 26,693 |
| Restructuring charges | 8,779 | 14,843 | 5,404 |
| (Gain) loss on write down and disposal of long-lived assets | 1,660 | (992) | 10,671 |
| Total operating costs and expenses | 1,181,969 | 1,087,329 | 722,370 |
| Operating income (1) | 200,849 | 112,852 | 34,968 |
| Non-operating (income) expense: |  |  |  |
| Interest income | (2,035) | (809) | (24) |
| Interest expense | 21,239 | 32,882 | 39,755 |
| Acquisition (gain) loss | — | (130,880) | — |
| Change in value of TOKIN options | — | — | (10,700) |
| Other (income) expense, net (1) | 11,214 | 24,592 | (3,871) |
| Income before income taxes and equity income (loss) from equity method investments (1) | 170,431 | 187,067 | 9,808 |
| Income tax expense (benefit) (1) | (39,460) | 9,132 | 4,294 |
| Income before equity income (loss) from equity method investments (1) | 209,891 | 177,935 | 5,514 |
| Equity income (loss) from equity method investments | (3,304) | 76,192 | 41,643 |
| Net income (1) | $206,587 | $254,127 | $47,157 |



## Text

Results of Operations


Historically, revenues and earnings may or may not be representative of future operating results due to various economic and other factors. The following table sets forth the Consolidated Statements of Operations for the periods indicated (amounts in thousands):


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

|  |  | Fiscal Year Ended |  |
|---|---|---|---|
| (Dollars in Millions) | April 27, 2019 | April 28, 2018 | April 29, 2017 |
| Net Sales: |  |  |  |
| U.S. | $540.5 | $487.5 | $506.9 |
| Malta | 148.5 | 184.0 | 155.5 |
| China | 113.7 | 117.3 | 127.7 |
| Canada | 101.6 | 54.4 | — |
| Other | 96.0 | 65.1 | 26.4 |
| Total Net Sales | $1,000.3 | $908.3 | $816.5 |
| Property, Plant and Equipment, Net: |  |  |  |
| U.S. | $83.9 | $63.3 | $44.9 |
| Malta | 33.0 | 36.8 | 26.4 |
| Belgium | 22.1 | 25.0 | — |
| China | 18.6 | 7.2 | 5.9 |
| Other | 34.3 | 29.9 | 13.4 |
| Total Property, Plant and Equipment, Net | $191.9 | $162.2 | $90.6 |



## Text

11. Segment Information and Geographic Area Information


The following table sets forth certain geographic financial information for fiscal 2019, fiscal 2018 and fiscal 2017. Geographic net sales are determined based on our sales from our various operational locations.
## Table

|  | Level 1 | Level 2 | Level 3 | Total |
|---|---|---|---|---|
| Cash and cash equivalents | $1.0 | $65.0 | $— | $66.0 |
| Equity securities: |  |  |  |  |
| U.S. equity securities | 319.8 | 124.0 | — | 443.8 |
| International equity securities | 256.5 | 1.0 | — | 257.5 |
| Fixed income securities: |  |  |  |  |
| Government bonds | — | 1,854.8 | — | 1,854.8 |
| Corporate bonds | — | 4.7 | — | 4.7 |
| Mortgage-backed bonds | — | 9.3 | — | 9.3 |
| Real estate funds | 7.7 | — | — | 7.7 |
| Master limited partnerships | 0.4 | — | — | 0.4 |
| Net receivables for unsettled transactions | 10.9 | — | — | 10.9 |
| Fair value measurement of pension plan assets in the fair value hierarchy | $596.3 | $2,058.8 | $— | $2,655.1 |
| Investments measured at net asset value |  |  |  | 700.0 |
| Total pension plan assets |  |  |  | $3,355.1 |



## Text

The fair value of plan assets, summarized by level within the fair value hierarchy described in Note 20, as of May 27, 2018, was as follows:


Level 1 assets are valued based on quoted prices in active markets for identical securities. The majority of the Level 1 assets listed above include the common stock of both U.S. and international companies, mutual funds, master limited partnership units, and real estate investment trusts, all of which are actively traded and priced in the market.


Level 2 assets are valued based on other significant observable inputs including quoted prices for similar securities, yield curves, indices, etc. Level 2 assets consist primarily of individual fixed income securities where values are based on quoted prices of similar securities and observable market data.


Level 3 assets consist of investments where active market pricing is not readily available and, as such, fair value is estimated using significant unobservable inputs.


Certain assets that are measured at fair value using the NAV (net asset value) per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. Such investments are generally considered long-term in nature with varying redemption availability. For certain of these investments, with a fair value of approximately $51.0 million as of May 26, 2019, the asset managers have the ability to impose customary redemption gates which may further restrict or limit the redemption of invested funds therein. As of May 26, 2019, funds with a fair value of $4.2 million have imposed such gates.


As of May 26, 2019, we have unfunded commitments for additional investments of $48.3 million in private equity funds and $17.0 million in natural resources funds. We expect unfunded commitments to be funded from plan assets rather than the general assets of the Company.


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)
## Table

| (in millions, except per share data) | 2019 | 2018 | 2017 |
|---|---|---|---|
| Revenues | $1,177.2 | $1,114.0 | $1,051.6 |
| Adjusted Revenues(1) | $1,177.7 | $1,116.5 | $1,056.1 |
| Earnings before equity in losses of unconsolidated affiliates | $182.8 | $168.5 | $254.2 |
| Net earnings(2) | $108.8 | $168.5 | $254.2 |
| Net earnings margin | 9.2% | 15.1% | 24.2% |
| Net earnings attributable to Black Knight | $108.8 | $168.5 | $182.3 |
| Net earnings attributable to Black Knight, per diluted share | $0.73 | $1.14 | $1.47 |
| Adjusted Net Earnings(1) | $295.4 | $277.9 | $209.6 |
| Adjusted EPS(1) | $1.99 | $1.87 | $1.38 |
| Adjusted EBITDA(1) | $583.4 | $542.5 | $505.8 |
| Adjusted EBITDA Margin(1) | 49.5% | 48.6% | 47.9% |



## Text

(1) For a description and reconciliation of non-GAAP financial measures presented in this document, please see the Non-GAAP Financial Measures page, or visit the Black Knight Investor Relations website at https://investor.blackknightinc.com.


(2) In 2019, the effect of our indirect investment in The Dun and Bradstreet Corporation was a reduction of Net earnings of $73.9 million primarily due to the effect of its purchase accounting adjustments, restructuring charges and other non-operating charges. In 2017, Net earnings includes a one-time, non-cash net tax benefit of $110.9 million related to the revaluation of our deferred income tax assets and liabilities as a result of the Tax Cuts and Jobs Act of 2017 (the “Tax Reform Act”).
## Table

|  | Number of RSUs Outstanding (in thousands) | Weighted- Average Grant Date Fair Value Per Share | Aggregate Intrinsic Value (in thousands) |
|---|---|---|---|
| Outstanding at December 31, 2016 | 3,554 | $18.01 | $73,261 |
| Granted | 3,005 | 30.20 |  |
| Released | (1,680) | 19.54 |  |
| Canceled/Forfeited | (598) | 20.91 |  |
| Outstanding at December 31, 2017 | 4,281 | $25.51 | $207,197 |
| Granted | 1,746 | 67.64 |  |
| Released | (1,971) | 30.50 |  |
| Canceled/Forfeited | (495) | 34.99 |  |
| Outstanding at December 31, 2018 | 3,561 | $42.09 | $293,523 |
| Granted | 2,069 | 122.35 |  |
| Released | (1,906) | 50.99 |  |
| Canceled/Forfeited | (475) | 60.38 |  |
| Outstanding at December 31, 2019 | 3,249 | $85.39 | $548,145 |



## Text

Restricted Stock Units


The 2013 Plan provides for the issuance of RSUs to employees, directors, and consultants. RSUs issued under the 2013 Plan generally vest over four years. A summary of activity of RSUs under the 2013 Plan at December 31, 2019 and changes during the periods then ended is presented in the following table:


As of December 31, 2019 and 2018, there was a total of $198.3 million and $107.9 million of unrecognized share-based compensation expense, net of estimated forfeitures, related to RSUs, which will be recognized on a straight-line basis over the remaining weighted-average vesting periods of approximately 2.3 years and 2.4 years, respectively.
## Table

|  |  | Year Ended February 28, |  |
|---|---|---|---|
|  | 2019 | 2018 | 2017 |
| Net income (loss) | $18,398 | $16,617 | $(7,904) |
| Investment income | (5,258) | (2,256) | (1,691) |
| Interest expense | 16,726 | 10,280 | 9,896 |
| Income tax provision (benefits) | (1,330) | 10,681 | (1,563) |
| Depreciation and amortization | 20,016 | 22,957 | 23,469 |
| Stock-based compensation | 11,029 | 9,298 | 7,833 |
| Impairment loss and equity in net loss of affiliate | 6,787 | 1,411 | 1,284 |
| Loss on extinguishment of debt | 2,033 | - | - |
| Acquisition and integration related expenses | 935 | - | 4,513 |
| Non-recurring legal expenses, net of reversal of litigation |  |  |  |
| provision | (11,020) | 10,738 | 9,192 |
| Gain on LoJack battery performance legal Settlement | (18,333) | (28,333) | - |
| Restructuring | 8,015 | - | - |
| Other | 217 | 989 | 4,339 |
| Adjusted EBITDA | $48,215 | $52,382 | $49,368 |



## Text

Our CODM evaluates each segment based on Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (“Adjusted EBITDA”), and we therefore consider Adjusted EBITDA to be a primary measure of operating performance of our operating segments. We define Adjusted EBITDA as earnings before investment income, interest expense, taxes, depreciation, amortization and stock-based compensation and other adjustments as identified below. The adjustments to our financial results prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) to calculate Adjusted EBITDA are itemized below (in thousands):


It is not practicable for us to report identifiable assets by segment because these businesses share resources, functions and facilities


We do not have significant long-lived assets outside the United States.
## Table

|  |  | Year Ended December 31, |  |
|---|---|---|---|
|  | 2019 | 2018 | 2017 |
| Current income tax provision: |  |  |  |
| Federal | $— | $— | $— |
| State | 225 | 204 | 114 |
| Foreign | 2,467 | 2,514 | 1,580 |
| Total current income tax provision | 2,692 | 2,718 | 1,694 |
| Deferred income tax benefit: |  |  |  |
| Federal | $— | — | $— |
| State | — | — | — |
| Foreign | (2) | (123) | 52 |
| Total deferred income tax benefit | (2) | (123) | 52 |
| Total income tax provision | $2,690 | $2,595 | $1,746 |



## Text

The components of the provision for income taxes attributable to continuing operations are as follows (in thousands):


On a consolidated basis, the Company has incurred operating losses and has recorded a full valuation allowance against its US, UK, New Zealand, Hong Kong, and Brazil deferred tax assets for all periods to date and, accordingly, has not recorded a provision (benefit) for income taxes for any of the periods presented other than a provision (benefit) for certain foreign and state income taxes. Certain foreign subsidiaries and branches of the Company provide intercompany services and are compensated on a cost-plus basis, and therefore, have incurred liabilities for foreign income taxes in their respective jurisdictions.
## Table

|  |  | Years Ended December, 31 |  |
|---|---|---|---|
|  | 2019 | 2018 | 2017 |
|  |  | (Dollars in millions, except per share amounts, shares in thousands) |  |
| Loss income (Numerator): |  |  |  |
| Net (loss) income | $(5,269) | (1,733) | 1,389 |
| Net (loss) income applicable to common stock for computing basic earnings per common share | (5,269) | (1,733) | 1,389 |
| Net (loss) income as adjusted for purposes of computing diluted earnings per common share | $(5,269) | (1,733) | 1,389 |
| Shares (Denominator): |  |  |  |
| Weighted average number of shares: |  |  |  |
| Outstanding during period | 1,088,730 | 1,078,409 | 635,576 |
| Non-vested restricted stock | (17,289) | (12,543) | (7,768) |
| Weighted average shares outstanding for computing basic earnings per common share | 1,071,441 | 1,065,866 | 627,808 |
| Incremental common shares attributable to dilutive securities: |  |  |  |
| Shares issuable under convertible securities | — | — | 10 |
| Shares issuable under incentive compensation plans | — | — | 875 |
| Number of shares as adjusted for purposes of computing diluted (loss) earnings per common share | 1,071,441 | 1,065,866 | 628,693 |
| Basic (loss) earnings per common share | $(4.92) | (1.63) | 2.21 |
| Diluted (loss) earnings per common share(1) | $(4.92) | (1.63) | 2.21 |



## Text

(13) (Loss) Earnings Per Common Share


Basic and diluted (loss) earnings per common share for the years ended December 31, 2019, 2018 and 2017 were calculated as follows:


(1) For the year ended December 31, 2019 and December 31, 2018, we excluded from the calculation of diluted loss per share 3.0 million shares and 4.6 million shares, respectively, potentially issuable under incentive compensation plans or convertible securities, as their effect, if included, would have been anti-dilutive.


Our calculation of diluted (loss) earnings per common share excludes shares of common stock that are issuable upon exercise of stock options when the exercise price is greater than the average market price of our common stock. We also exclude unvested restricted stock awards that are antidilutive as a result of unrecognized compensation cost. Such shares were 6.8 million, 2.7 million and 4.7 million for 2019, 2018 and 2017, respectively.
## Table

|  | 2019 €m | 2018 €m | 2017 €m |
|---|---|---|---|
| Adjusted EBITDA | 14,139 | 14,737 | 14,149 |
| Depreciation, amortisation and loss on disposal of fixed assets | (9,665) | (9,910) | (10,179) |
| Share of adjusted results in equity accounted associates and joint ventures1 | (291) | 389 | 164 |
| Adjusted operating profit | 4,183 | 5,216 | 4,134 |
| Impairment losses | (3,119) | – | – |
| Restructuring costs | (486) | (156) | (415) |
| Amortisation of acquired customer based and brand intangible assets | (583) | (974) | (1,046) |
| Other (expense)/income | (262) | 213 | 1,052 |
| Operating (loss)/profit (IAS 18 basis) | (267) | 4,299 | 3,725 |
| Impact of adoption of IFRS 152 | (684) |  |  |
| Operating loss (IFRS 15 basis) | (951) |  |  |



## Text

The Group’s measure of segment profit, adjusted EBITDA, excludes depreciation, amortisation, impairment loss, restructuring costs, loss on disposal of fixed assets, the Group’s share of results in associates and joint ventures and other income and expense. A reconciliation of adjusted EBITDA to operating profit is shown below. For a reconciliation of operating profit to profit for the financial year, see the Consolidated income statement on page 111.


Note: 1 Share of adjusted results in equity accounted associates and joint ventures excludes amortisation of acquired customer bases and brand intangible assets, restructuring costs and other costs of €0.6 billion (2018: €0.4 billion, 2017: €0.1 billion) which are included in amortisation of acquired customer base and brand intangible assets, restructuring costs and other income and expense respectively


2 See note 31 “IAS 18 basis primary statements” for further details.
## Table

|  | 2019 | 2018 | 2017 |
|---|---|---|---|
| Currently payable: |  |  |  |
| Federal | $1,995 | $1,163 | $5,617 |
| State | 557 | 114 | 1,022 |
| Foreign | 13,448 | 107,487 | 116,022 |
|  | 16,000 | 108,764 | 122,661 |
| Deferred and other: |  |  |  |
| Federal | (407) | 26,334 | 1,413 |
| State | 516 | (489) | (153) |
| Foreign | (9,886) | (20,414) | (30,510) |
|  | (9,777) | 5,431 | (29,250) |
| Provision for income taxes | $6,223 | $114,195 | $93,411 |



## Text

16. INCOME TAXES


The provision for (benefit from) income taxes on income from continuing operations before income taxes consists of the following (in thousands):