feyninc/tacha huggingface dataset:
## Table

|  |  |  | As of and for the Years Ended December 31, |  |  |
|---|---|---|---|---|---|
|  | 2017 | Recognition of Net Periodic Benefits Expense | Deferrals | Net Change in AOCL | 2018 |
|  |  |  | (Dollars in millions) |  |  |
| Accumulated other comprehensive loss: |  |  |  |  |  |
| Pension plans: |  |  |  |  |  |
| Net actuarial (loss) gain | $(2,892) | 179 | (260) | (81) | (2,973) |
| Prior service benefit (cost) | 54 | (8) | — | (8) | 46 |
| Deferred income tax benefit (expense)(1) | 1,107 | (418) | 65 | (353) | 754 |
| Total pension plans | (1,731) | (247) | (195) | (442) | (2,173) |
| Post-retirement benefit plans: |  |  |  |  |  |
| Net actuarial (loss) gain | (250) | — | 257 | 257 | 7 |
| Prior service (cost) benefit | (107) | 20 | — | 20 | (87) |
| Deferred income tax benefit (expense)(2) | 122 | (37) | (63) | (100) | 22 |
| Total post-retirement benefit plans | (235) | (17) | 194 | 177 | (58) |
| Total accumulated other comprehensive loss | $(1,966) | (264) | (1) | (265) | (2,231) |



## Text

The following table presents cumulative items not recognized as a component of net periodic benefits expense as of December 31, 2017, items recognized as a component of net periodic benefits expense in 2018, additional items deferred during 2018 and cumulative items not recognized as a component of net periodic benefits expense as of December 31, 2017. 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:


(1) Amounts currently recognized in net periodic benefits expense include $375 million of benefit arising from the adoption of ASU 2018-02. See Note 1— Background and Summary of Significant Accounting Policies for further detail.


(2) Amounts currently recognized in net periodic benefits expense include $32 million arising from the adoption of ASU 2018-02. See Note 1— Background and Summary of Significant Accounting Policies for further detail.
## Table

|  | Capped Call | Embedded exchange feature of Notes | Non-marketable investments |
|---|---|---|---|
|  |  | (U.S. $ in thousands) |  |
| Balance as of June 30, 2017 | $— | $— | $— |
| Purchases | 87,700 | (177,907) | — |
| Gains (losses) |  |  |  |
| Recognized in other non-operating (expense) income, net | 12,232 | (24,646) |  |
| Balance as of June 30, 2018 | 99,932 | (202,553) | — |
| Change in unrealized gains (losses) relating to assets and liabilities held as of June 30, 2018 |  |  |  |
| Recognized in other non-operating income (expense), net | 12,232 | (24,646) | — |
| Balance as of June 30, 2018 | $99,932 | $(202,553) | $— |
| Purchases | — | — | 23,000 |
| Transfer out | — | — | (20,942) |
| Gains (losses) |  |  |  |
| Recognized in finance income | — | — | 270 |
| Recognized in other non-operating (expense) income, net | 114,665 | (648,573) | — |
| Recognized in other comprehensive income | — | — | 672 |
| Balance as of June 30, 2019 | $214,597 | $(851,126) | $3,000 |
| Change in unrealized gains (losses) relating to assets and liabilities held as of June 30, 2019 |  |  |  |
| Recognized in other non-operating income (expense), net | 114,665 | (648,573) | — |



## Text

Non-marketable investments


Non-marketable equity securities are measured at fair value using market data, such as publicly available financing round valuations. Financial information of private companies may not be available and consequently we will estimate the fair value based on the best available information at the measurement date.


The following table presents the reconciliations of Level 3 financial instrument fair values:


There were transfers out from Level 3 due to initial public offerings of the respective investees during fiscal year 2019. There were no transfers between levels during fiscal year 2018.
## Table

|  |  | VMware Stock Options |  | Pivotal Stock Options |
|---|---|---|---|---|
|  | Number of Shares | Weighted-Average Exercise Price (per share) | Number of Shares | Weighted-Average Exercise Price (per share) |
| Outstanding, February 3, 2017 | 1,991 | $69.38 | 39,361 | $6.72 |
| Granted | 745 | 13.79 | 20,323 | 9.73 |
| Forfeited | (36) | 55.44 | (2,380) | 8.13 |
| Expired | (3) | 93.87 | (1,290) | 6.24 |
| Exercised | (1,050) | 53.50 | (1,626) | 5.99 |
| Outstanding, February 2, 2018 | 1,647 | 54.63 | 54,388 | 7.82 |
| Granted | 574 | 16.07 | 2,832 | 14.03 |
| Special Dividend adjustment | 348 | n/a | n/a | n/a |
| Forfeited | (31) | 24.44 | (2,028) | 9.35 |
| Expired | — | — | (273) | 7.02 |
| Exercised | (569) | 46.73 | (9,018) | 6.89 |
| Outstanding, February 1, 2019(1) | 1,969 | 36.50 | 45,901 | 8.31 |
| Granted(2) | 1,571 | 73.19 | — | — |
| Forfeited(3) | (149) | 52.83 | (10,822) | 10.65 |
| Expired | — | — | (128) | 10.10 |
| Exercised(4) | (776) | 39.94 | (34,951) | 7.59 |
| Outstanding, January 31, 2020 | 2,615 | 56.58 | — | — |



## Text

VMware and Pivotal Stock Options


The following table summarizes stock option activity for VMware and Pivotal since February 3, 2017 (shares in thousands):


(1) The weighted-average exercise price of options outstanding as of February 1, 2019 reflects the adjustments to the options as a result of the Special Dividend.


(2) Stock option granted under the VMware equity plan includes 0.6 million options issued for unvested options assumed as part of the Pivotal acquisition.


(3) Stock options forfeited under the Pivotal equity plan includes 6.2 million options converted to VMware options as part of the Pivotal acquisition, using a conversion ratio of 0.1.


(4) Stock options exercised under the Pivotal equity plan includes 22.4 million of vested options that were settled in cash as part of the Pivotal acquisition.


The above table includes stock options granted in conjunction with unvested stock options assumed in business combinations. As a result, the weighted-average exercise price per share may vary from the VMware stock price at time of grant


The stock options outstanding as of January 31, 2020 had an aggregate intrinsic value of $239 million based on VMware’s closing stock price as of January 31, 2020.
## Table

| FOR THE YEAR ENDED DECEMBER 31, 2019 | NETWORK INFRASTRUCTURE AND EQUIPMENT | LAND AND BUILDINGS | TOTAL |
|---|---|---|---|
| COST |  |  |  |
| January 1, 2019 | 3,329 | 2,453 | 5,782 |
| Additions | 527 | 513 | 1,040 |
| Transfers | (233) | – | (233) |
| Acquired through business combinations | – | 8 | 8 |
| Lease terminations | (12) | (38) | (50) |
| Impairment losses recognized in earnings | (2) | (3) | (5) |
| December 31, 2019 | 3,609 | 2,933 | 6,542 |
| ACCUMULATED DEPRECIATION |  |  |  |
| January 1, 2019 | 1,042 | 536 | 1,578 |
| Depreciation | 373 | 303 | 676 |
| Transfers | (111) | – | (111) |
| Lease terminations | (3) | (22) | (25) |
| December 31, 2019 | 1,301 | 817 | 2,118 |
| NET CARRYING AMOUNT |  |  |  |
| January 1, 2019 | 2,287 | 1,917 | 4,204 |
| December 31, 2019 | 2,308 | 2,116 | 4,424 |



## Text

Note 15 Leases


RIGHT-OF-USE ASSETS


BCE’s significant right-of-use assets under leases are satellites, office premises, land, cellular tower sites, retail outlets and OOH advertising spaces. Right-of-use assets are presented in Property, plant and equipment in the statement of financial position.
## Table

|  |  | Year Ended December 31, |  | 2019 vs. 2018 | 2018 vs. 2017 |
|---|---|---|---|---|---|
| (In millions) | 2019 | 2018 | 2017 | Change | Change |
| Interest expense on our various debt instruments: |  |  |  |  |  |
| Term Loan A due July 2017(1) | $ — | $ — | $ 3.6 | $ — | $ (3.6) |
| Term Loan A due July 2022(2) | 6.8 | — | — | 6.8 | — |
| Term Loan A due July 2023(3) | 8.5 | 8.9 | 18.6 | (0.4) | (9.7) |
| Revolving credit facility due July 2023(3) | 1.4 | 1.9 | 2.4 | (0.5) | (0.5) |
| 6.50% Senior Notes due December 2020(4) | 25.4 | 28.1 | 28.1 | (2.7) | — |
| 4.875% Senior Notes due December 2022 | 21.5 | 21.5 | 21.5 | — | — |
| 5.25% Senior Notes due April 2023 | 23.1 | 23.1 | 23.0 | — | 0.1 |
| 4.50% Senior Notes due September 2023 | 20.7 | 21.8 | 21.0 | (1.1) | 0.8 |
| 5.125% Senior Notes due December 2024 | 22.4 | 22.4 | 22.3 | — | 0.1 |
| 5.50% Senior Notes due September 2025 | 22.4 | 22.4 | 22.3 | — | 0.1 |
| 4.00% Senior Notes due December 2027(4) | 1.7 | — | — | 1.7 | — |
| 6.875% Senior Notes due July 2033 | 31.1 | 31.0 | 31.0 | 0.1 | — |
| Other interest expense | 19.4 | 18.2 | 18.3 | 1.2 | (0.1) |
| Less: capitalized interest | (8.4) | (6.3) | (10.3) | (2.1) | 4.0 |
| Less: interest income | (11.9) | (15.1) | (17.6) | 3.2 | 2.5 |
| Total | $ 184.1 | $ 177.9 | $ 184.2 | $ 6.2 | $ (6.3) |



## Text

Interest expense, net includes the stated interest rate on our outstanding debt, as well as the net impact of capitalized interest, interest income, the effects of terminated interest rate swaps and the amortization of capitalized senior debt issuance costs and credit facility fees, bond discounts, and terminated treasury locks.


Interest expense, net for the years ended December 31, was as follows:


(1) We repaid the notes upon maturity in July 2017.


(2) On August 1, 2019, Sealed Air Corporation, on behalf of itself and certain of its subsidiaries, and Sealed Air Corporation (US) entered into an amendment to its existing senior secured credit facility with Bank of America, N.A., as agent, and the other financial institutions party thereto. The amendment provided for a new incremental term facility in an aggregate principal amount of up to $475 million, to be used, in part, to finance the acquisition of Automated. See Note 14, "Debt and Credit Facilities," of the Notes to Consolidated Financial Statements for further details.


(3) On July 12, 2018, the Company and certain of its subsidiaries entered into a third amended and restated credit agreement with respect to its existing senior secured credit facility. See Note 14, “Debt and Credit Facilities,” of the Notes to Consolidated Financial Statements for further details.


(4) In November 2019, the Company issued $425 million of 4.00% Senior Notes due 2027 and used the proceeds to retire the existing $425 million of 6.50% Senior Notes due 2020. See Note 14, "Debt and Credit Facilities," of the Notes to Consolidated Financial Statements for further details.
## Table

|  |  |  | Percent Change |  |
|---|---|---|---|---|
| (Dollars in millions) | 2019 | Actual | Constant | 2018 |
| Services Revenues: |  |  |  |  |
| Americas | $1,576 | -5% | -3% | $1,654 |
| EMEA | 1,021 | -2% | 2% | 1,046 |
| Asia Pacific | 643 | -7% | -4% | 695 |
| Total revenues | 3,240 | -5% | -2% | 3,395 |
| Total Expenses (1) | 2,703 | -1% | 2% | 2,729 |
| Total Margin | $537 | -19% | -18% | $666 |
| Total Margin % | 17% |  |  | 20% |
| % Revenues by Geography: |  |  |  |  |
| Americas | 49% |  |  | 49% |
| EMEA | 31% |  |  | 31% |
| Asia Pacific | 20% |  |  | 20% |



## Text

Services Business


We offer services to customers and partners to help to maximize the performance of their investments in Oracle applications and infrastructure technologies. Services revenues are generally recognized as the services are performed. The cost of providing our services consists primarily of personnel related expenses, technology infrastructure expenditures, facilities expenses and external contractor expenses.


(1) Excludes stock-based compensation and certain expense allocations. Also excludes amortization of intangible assets and certain other GAAP-based expenses, which were not allocated to our operating segment results for purposes of reporting to and review by our CODMs, as further described under “Presentation of Operating Segments and Other Financial Information” above.


Excluding the effects of currency rate fluctuations, our total services revenues decreased in fiscal 2019 relative to fiscal 2018 primarily due to revenue declines in our education services and, to a lesser extent, our consulting services. During fiscal 2019, constant currency increases in our EMEA-based services revenues were offset by constant currency services revenue decreases in the Americas and the Asia Pacific regions.


In constant currency, total services expenses increased in fiscal 2019 compared to fiscal 2018 primarily due to an increase in employee related expenses and external contractor expenses associated with investments in our consulting services that support our cloud offerings. In constant currency, total margin and total margin as a percentage of total services revenues decreased during fiscal 2019 relative to fiscal 2018 due to decreased revenues and increased expenses for this business.
## Table

|  |  | Year Ended December 31, |  |
|---|---|---|---|
|  | 2019 | 2018 | 2017 |
| Transaction Volume |  |  |  |
| Dollars (in millions) | $5,954 | $5,030 | $3,767 |
| Percentage increase | 18% | 34% |  |
| Loan Servicing Portfolio |  |  |  |
| Dollars (in millions, at end of period) | $9,150 | $7,341 | $5,390 |
| Percentage increase | 25% | 36% |  |
| Active Merchants |  |  |  |
| Number (at end of period) | 17,216 | 14,907 | 10,891 |
| Percentage increase | 15% | 37% |  |
| Cumulative Consumer Accounts |  |  |  |
| Number (in millions, at end of period) | 3.03 | 2.24 | 1.57 |
| Percentage increase | 35% | 43% |  |



## Text

ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (United States Dollars in thousands, except per share data and unless otherwise indicated)


Business Metrics


We review a number of operating and financial metrics to evaluate our business, measure our performance, identify trends, formulate plans and make strategic decisions, including the following.


Transaction Volume. We define transaction volume as the dollar value of loans facilitated on our platform
during a given period. Transaction volume is an indicator of revenue and overall platform profitability and has
grown substantially in the past several years.


Loan Servicing Portfolio. We define our loan servicing portfolio as the aggregate outstanding consumer loan balance (principal plus accrued interest and fees) serviced by our platform at the date of measurement. Our loan servicing portfolio is an indicator of our servicing activities. The average loan servicing portfolio for the years ended December 31, 2019, 2018 and 2017 was $8,213 million, $6,303 million and $4,501 million, respectively.


Active Merchants. We define active merchants as home improvement merchants and healthcare providers that have submitted at least one consumer application during the twelve months ended at the date of measurement. Because our transaction volume is a function of the size, engagement and growth of our merchant network, active merchants, in aggregate, are an indicator of future revenue and profitability, although they are not directly correlated. The comparative measures can also be impacted by disciplined corrective action taken by the Company to remove merchants from our program who do not meet our customer satisfaction standards.


Cumulative Consumer Accounts. We define cumulative consumer accounts as the aggregate number of consumer accounts approved on our platform since our inception, including accounts with both outstanding and zero balances. Although not directly correlated to revenue, cumulative consumer accounts is a measure of our brand awareness among consumers, as well as the value of the data we have been collecting from such consumers since our inception. We may use this data to support future growth by cross-marketing products and delivering potential additional customers to merchants that may not have been able to source those customers themselves.
## Table

| (Amounts in thousands, except per share data and percentages) | 2019 | 2018 | 2017 |
|---|---|---|---|
| Bookings | $1,002,320 | $2,779,782 | $1,234,013 |
| Backlog | $3,400,952 | $4,064,451 | $2,536,499 |
| Sales | $1,496,475 | $1,202,898 | $1,107,709 |
| Sales growth % | 24% | 9% |  |
| Research & development | $50,132 | $52,398 | $52,652 |
| Operating income | $86,237 | $24,382 | $2,628 |
| Net income (loss) per share, continuing operations attributable to Cubic | $1.67 | $0.29 | $(0.95) |
| Adjusted EBITDA (1) | $146,594 | $104,561 | $87,470 |
| Adjusted EBITDA growth % | 40% | 20% |  |
| Adjusted earnings per share (1) | $3.13 | $2.19 | $1.62 |
| Adjusted earnings per share growth % | 43% | 35% |  |
| Cash dividend per share | $0.27 | $0.27 | $0.27 |
| Long-term debt, inclusive of current portion | $199,824 | $199,793 | $199,761 |



## Text

Financial and Operating Highlights


CONTINUING OPERATIONS


(1) See reconciliation of GAAP to non-GAAP financial measures tables in Management’s Discussion and Analysis of Financial Condition and Results of Operations in the Form 10-K.
## Table

| £m | Notes | 2019 | 2018 | Change |
|---|---|---|---|---|
| Net rental income | A | 401.6 | 450.5 | (48.9) |
| Administration expenses | B | (40.5) | (44.0) | 3.5 |
| Net finance costs | C | (224.6) | (220.4) | (4.2) |
| Tax on underlying profit | D | (17.6) | (0.7) | (16.9) |
| Other underlying amounts2 |  | 8.3 | 7.7 | 0.6 |
| Underlying earnings1 |  | 127.2 | 193.1 | (65.9) |
| Revaluation of investment and development property | E | (1,979.7) | (1,405.0) | (574.7) |
| Change in fair value of financial
instruments | F | (75.3) | 86.3 | (161.6) |
| Other finance charges – exceptional | G | (37.7) | (28.4) | (9.3) |
| Other non-underlying amounts3 |  | 14.6 | 21.8 | (7.2) |
| IFRS loss for the year attributable
to owners of intu properties plc1 |  | (1,950.9) | (1,132.2) | (818.7) |
| IFRS basic loss per share (pence) |  | (145.1)p | (84.3)p | (60.8)p |
| Underlying EPS (pence) |  | 9.5p | 14.4p | (4.9)p |



## Text

Financial review


2019 was a challenging year for the retail property sector with the ongoing structural changes and low consumer confidence impacting some weaker retailers and leading to a higher level of CVAs and administrations. This impacted our revenue, net rental income and property valuations, with like-for-like net rental income down 9.1 per cent and the property revaluation deficit was £1,979.7 million.


Fixing the balance sheet is our top strategic priority and although the notes accompanying these financial statements indicate a material uncertainty in relation to intu’s ability to continue as a going concern we have options including alternative capital structures and further disposals to put us on a stronger financial footing.


1 A reconciliation from the IFRS consolidated income statement to the underlying earnings amounts presented above is provided in presentation of information on page 161.


2 Other underlying amounts includes net other income, share of underlying profit in associates and any underlying amounts attributable to non-controlling interests.


3 Other non-underlying amounts includes losses on disposal of subsidiaries, gains on sale of investment and development property, write-down on recognition of joint ventures and other assets classified as held for sale, impairment of goodwill, impairment of investment in associates, impairment of loan to associate, exceptional administration expenses, exceptional tax, and any non-underlying amounts attributable to non-controlling interests.


The IFRS loss for the year attributable to owners of intu properties plc increased by £818.7 million to £1,950.9 million, with the IFRS basic loss per share increasing by 60.8 pence. Underlying earnings decreased by £65.9 million to £127.2 million, with a corresponding reduction in underlying EPS of 4.9 pence. The key drivers of these variances are discussed below.
## Table

|  |  | Fiscal year |  |
|---|---|---|---|
| (in millions of €) | 2019 | 2018 | % Change |
| Revenue | 22,104 | 28,185 | (22) % |
| Cost of Sales | (15,825) | (21,074) | 25 % |
| Gross profit | 6,279 | 7,111 | (12) % |
| as percentage of revenue | 28 % | 25 % |  |
| Research and development expenses | (2,362) | (2,788) | 15 % |
| Selling and general administrative expenses | (3,979) | (3,767) | (6) % |
| Other operating income (expenses), net | 9,469 | 1 | n / a |
| Financial income, net thereof Income from investments, net 3,754 (prior year 5,381) | 3,188 | 4,643 | (31) % |
| Income from business activity | 12,596 | 5,199 | 142 % |
| Income taxes | (1,377) | (653) | (111) % |
| Net income | 11,219 | 4,547 | 147 % |
| Profit carried forward | 170 | 134 | 27 % |
| Allocation to other retained earnings | (6,005) | (1,451) | > (200) % |
| Unappropriated net income | 5,384 | 3,230 | 67 % |



## Text

A.9.1 Results of operations


Statement of Income of Siemens AG in accordance with German Commercial Code (condensed)


Beginning of August 2018, Siemens AG carved out its mobility business to Siemens Mobility GmbH by way of singular succession. The decreases in revenue, cost of sales, gross profit and research and development (R & D) expenses were mainly driven by this carve-out.


On a geographical basis, 75 % of revenue was generated in the Europe, C. I. S., Africa, Middle East region, 18 % in the Asia, Australia region and 7 % in the Americas region. Exports from Germany accounted for 62 % of overall revenue. In fiscal 2019, orders for Siemens AG amounted to € 21.6 billion. Within Siemens AG, the development of revenue depends strongly on the completion of contracts, primarily in connection with large orders.


The R & D intensity (R & D as a percentage of revenue) increased by 0.8 percentage points year-over-year. The research and development activities of Siemens AG are fundamentally the same as for its fields of business activities within the Siemens Group, respectively. On an average basis, we employed 9,000 people in R & D in fiscal 2019.


The decrease in Financial income, net was primarily attributable to lower income from investments, net. The main factor for this decrease was a significant income from the profit transfer agreement with Siemens Beteiligungen Inland GmbH, Germany, in
fiscal 2018.
## Table

|  |  | Year Ended December 31, |  |
|---|---|---|---|
|  | 2019 | 2018 | 2017 |
|  |  | (Dollars in millions) |  |
| Operating revenue |  |  |  |
| International and Global Accounts | $3,596 | 3,653 | 1,382 |
| Enterprise | 6,133 | 6,133 | 4,186 |
| Small and Medium Business | 2,956 | 3,144 | 2,418 |
| Wholesale | 4,074 | 4,397 | 3,026 |
| Consumer | 5,642 | 6,116 | 6,451 |
| Total segment revenue | $22,401 | 23,443 | 17,463 |
| Operations and Other(1) | — | — | 193 |
| Total operating revenue | $22,401 | 23,443 | 17,656 |



## Text

Segment Results


General


Reconciliation of segment revenue to total operating revenue is below:


(1) On May 1, 2017 we sold a portion of our data centers and colocation business. See Note 3—Sale of Data Centers and Colocation Business to our consolidated financial statements in Item 8 of Part II of this report, for additional information.