hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
9. DEBT AND OTHER FINANCING ARRANGEMENTS
2021 Senior Convertible Notes
In 2017, the Company issued $300.0 million principal amount of 5.75% senior convertible notes (the “2021 Notes”) for a purchase price equal to 98% of the principal amount. The Company received net proceeds of $284.9 million, net of a discount of $6.0 million and issuance costs of $9.1 million. The debt discount is being accreted to interest expense over the term of the 2021 Notes using the interest method. The issuance costs were deferred and are being amortized to interest expense over the same term.
The 2021 Notes are governed by an Indenture, dated December 8, 2017 between the Company and US Bank National Association, as trustee (the “2017 Indenture”). The 2021 Notes mature on July 1, 2021, unless earlier repurchased or converted. Interest is payable semi-annually in arrears on January 1 and July 1, commencing January 1, 2018.
The 2021 Notes are convertible at an initial conversion rate of 23.8095 shares of the Company’s common stock per $1,000 principal amount of the 2021 Notes, which represents an initial conversion price of $42.00 per share, subject to adjustment for anti-dilutive issuances, voluntary increases in the conversion rate, and make-whole adjustments upon a fundamental change. A fundamental change includes a change in control, delisting of the Company’s common stock, and a liquidation of the Company. Upon conversion, the Company will deliver the applicable number of the Company’s common stock and cash in lieu of any fractional shares. Holders of the 2021 Notes may convert their 2021 Notes at any time prior to the close of business on the scheduled trading day immediately preceding the maturity date.
The holders of the 2021 Notes may require the Company to repurchase all or a portion of their 2021 Notes at a cash repurchase price equal to 100% of the principal amount of the 2021 Notes being repurchased, plus the remaining scheduled interest through and including the maturity date, upon a fundamental change and events of default, including non-payment of interest or principal and other obligations under the 2017 Indenture.
The net carrying amounts of the liability components of the 2021 Notes consist of the following (in thousands):
The effective interest rate of the liability component is 6.4% for the 2021 Notes.
Table:
 | December 31, 2019 | December 31, 2018
Principal amount | $300,000 | $300,000
Unamortized debt discount | (2,691) | (4,348)
Net carrying amount before unamortized debt issuance costs | 297,309 | 295,652
Unamortized debt issuance costs | (4,135) | (6,685)
Net carrying value | $293,174 | $288,967


Question: What was the net carrying amount before unamortized debt issuance costs in 2018?
Answer: 295,652
future minimum lease payments for all non-cancelable operating leases at may 31 , 2013 were as follows : fiscal years ending may 31: .

Table:
2014 | $ 11057
2015 | 8985
2016 | 7378
2017 | 6700
2018 | 6164
thereafter | 16812
total future minimum lease payments | $ 57096
we are party to a number of claims and lawsuits incidental to our business .
in our opinion , the liabilities , if any , which may ultimately result from the outcome of such matters , individually or in the aggregate , are not expected to have a material adverse impact on our financial position , liquidity or results of operations .
operating taxes we define operating taxes as taxes that are unrelated to income taxes , such as sales , property , value-add and other business taxes .
during the course of operations , we must interpret the meaning of various operating tax matters in the united states and in the foreign jurisdictions in which we do business .
taxing authorities in those various jurisdictions may arrive at different interpretations of applicable tax laws and regulations as they relate to such operating tax matters , which could result in the payment of additional taxes in those jurisdictions .
as of may 31 , 2013 and 2012 , we did not have liabilities for contingencies related to operating tax items based on management 2019s best estimate given our history with similar matters and interpretations of current laws and regulations .
bin/ica agreements we have entered into sponsorship or depository and processing agreements with certain banks .
these agreements allow us to use the banks 2019 identification numbers , referred to as bank identification number ( 201cbin 201d ) for visa transactions and interbank card association ( 201cica 201d ) number for mastercard transactions , to clear credit card transactions through visa and mastercard .
certain of such agreements contain financial covenants , and we were in compliance with all such covenants as of may 31 , 2013 .
our canadian visa sponsorship , which was originally obtained through a canadian financial institution , expired in march 2011 .
we have filed an application with the office of the superintendent of financial institutions canada ( 201cosfi 201d ) for the formation of a wholly owned loan company in canada which would serve as our financial institution sponsor .
on december 12 , 2012 , the loan company received a restricted order to commence and carry on business from osfi which will enable the loan company to become a direct visa member at such time that global payments concludes the appropriate bin transfer process with visa .
in march 2011 , we obtained temporary direct participation in the visa canada system , while the loan company application was pending .
we anticipate that the bin transfer process with visa will be completed by september 30 , 2013. .

Question: what is the percentage change in the expected minimum payments from 2014 to 2015?
Answer: -18.7%
Calculation: subtract(8985, 11057)
Property and equipment, net by geographic location consists of the following:
(1) Includes amounts capitalized related to the Company’s U.S. build-to-suit facility of $41.8 million and $39.4 million as of March 31, 2019 and 2018, respectively.
(2) Includes amounts capitalized related to the Company’s U.K. build-to-suit facility of $31.2 million as of March 31, 2018. In March 2019, the Company derecognized the U.K. build-to-suit facility upon substantial completion of construction. See Note 12 for further details.
Table:
 | As of March 31, | 
 | 2019 | 2018
United States (1)  | $62,455 | $62,064
United Kingdom (2)   | 17,402 | 46,664
South Africa   | 6,170 | 6,512
Australia   | 3,481 | 3,953
Other   | 4,694 | 4,629
Total  | $94,202 | $123,822


Question: How much was the amount capitalized related to the Company’s U.S. build-to-suit facility as of March 31, 2018?
Answer: $39.4 million
24. Government grants
The following government grants are included within trade and other payables:
Government grants have been received to accelerate and support research and development in the vulnerability of global navigation satellite systems and other high technology projects.
Table:
 | 2019 | 2018
 | $ million | $ million
At 1 January | 2.3 | 2.6
Received during the year | 0.3 | 0.1
Released to the income statement | (0.6) | (0.4)
At 31 December | 2.0 | 2.3


Question: Where are the government grants included within?
Answer: trade and other payables
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (in thousands, except for share and per share data)
NOTE 15 — Shareholders' Equity
A roll forward of common shares outstanding is as follows:
Table:
 | As of December 31, | 
 | 2019 | 2018
Balance at beginning of the year | 32,750,727 | 32,938,466
Repurchases | (420,770) | (342,100)
Restricted stock unit issuances | 142,449 | 154,361
Balance at end of period | 32,472,406 | 32,750,727


Question: How many years did the Balance at end of period exceed 30,000,000 ?
Answer: 2
Calculation: 2019##2018
Non-GAAP Results
Management uses non-GAAP operating income and non-GAAP EPS to evaluate business performance without the impacts of certain non-cash charges and other charges which are not part of our usual operations. We use these non- GAAP measures to assess performance against business objectives, make business decisions, including developing budgets and forecasting future periods. In addition, management’s incentive plans include these non-GAAP measures as criteria for achievements. These non-GAAP measures are not in accordance with U.S. GAAP and may differ from non- GAAP methods of accounting and reporting used by other companies. However, we believe these non-GAAP measures provide additional information that enables readers to evaluate our business from the perspective of management. The presentation of this additional information should not be considered a substitute for results prepared in accordance with U.S. GAAP.
The non-GAAP results presented below exclude the impact of non-cash related charges, such as stock-based compensation and amortization of intangible assets. In addition, they exclude discontinued operations and other nonrecurring items such as acquisition-related costs and restructuring expenses, as they are not indicative of future performance. The tax effect of our non-GAAP adjustments represents the anticipated annual tax rate applied to each non-GAAP adjustment after consideration of their respective book and tax treatments and effect of adoption of the Tax Act.
Table:
Reconciliation of Non-GAAP measure - operating expenses and operating income from continuing operations, excluding certain items (in thousands) | Years Ended December 31, | 
 | 2019 | 2018
Gross profit from continuing operations, as reported | $ 315,652 | $365,607
Adjustments to gross profit: |  | 
Stock-based compensation | 525 | 742
Facility expansion and relocation costs | 3,891 | 1,328
Acquisition-related costs | 8,290 | 569
Non-GAAP gross profit | 328,358 | 368,246
Non-GAAP gross margin | 41.6% | 51.2%
Operating expenses from continuing operations, as reported | 261,264 | 194,054
Adjustments: |  | 
Amortization of intangible assets | (12,168) | (5,774)
Stock-based compensation | (6,803) | (8,961)
Acquisition-related costs | (12,002) | (1,726)
Facility expansion and relocation costs | (948) | (518)
Restructuring charges | (5,038) | (4,239)
Non-GAAP operating expenses | 224,305 | 172,836
Non-GAAP operating income | $  104,053 | $  195,410


Question: What was the percentage change in acquisition-related costs between 2018 and 2019?
Answer: 1356.94
Calculation: ((8,290-569)/569) * 100
We use a wide variety of raw materials in the manufacture of our products. Cost of sales and gross margin are subject to variability in raw material prices which continue to fluctuate for many of the raw materials we use, including copper, gold, and silver. In fiscal 2019, we purchased approximately 172 million pounds of copper, 122,000 troy ounces of gold, and 2.6 million troy ounces of silver. The following table presents the average prices incurred related to copper, gold, and silver:
In fiscal 2020, we expect to purchase approximately 170 million pounds of copper, 120,000 troy ounces of gold, and 2.4 million troy ounces of silver.
Table:
 |  |  | Fiscal
 | Measure | 2019 | 2018
Copper | Lb. | $ 2.93 | $  2.86
Gold | Troy oz. | 1,309 | 1,281
Silver | Troy oz. | 16.42 | 17.15


Question: What are the Cost of sales and gross margin are subject to?
Answer: variability in raw material prices which continue to fluctuate for many of the raw materials we use, including copper, gold, and silver
Expected Future Rate
Over the medium-term the tax rate is likely to stabilise as the integration of acquisitions in higher rate jurisdictions are completed. However, the tax rate may fluctuate if business changes are implemented in response to legislation arising from the OECD’s Base Erosion & Profit Shifting Project. Legislative change in key territories is being monitored and acted upon.
The Group does not anticipate any significant impact on the future tax charge, liabilities or assets, as a result of the triggering of Article 50(2) of the Treaty on European Union, but cannot rule out the possibility that, for example, a failure to reach satisfactory arrangements for the UK’s future relationship with the European Union, could have an impact on such matters.
The European Commission has concluded its investigation into the UK’s controlled foreign company (“CFC”) rules. The CFC rules levy a charge on foreign entities controlled by the UK that are subject to a lower rate of tax, however there is currently an exemption available for 75% of this charge if the activities being undertaken by the CFC relate to financing. The EC concluded that this exemption is in breach of EU State Aid rules. However, whilst we are awaiting further detail from HMRC, the position has not changed from a tax accounting perspective. The risk is possible, but not probable. UK ministers have yet to decide on whether to pursue an appeal. No provision for this potential liability of $3.6M has been provided in these Consolidated Financial Statements as it is not clear what, if any, the ultimate financial result will be.
Deferred tax assets and liabilities are attributable to the following:
As at 31 March 2019 the aggregate amount of temporary differences associated with undistributed earnings of subsidiaries for which deferred tax liabilities have been recognised was $Nil (2018: $Nil). No liability has been recognised because the Group is in a position to control the reversal of temporary differences and it is probable that such differences will not reverse in the foreseeable future.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period when the asset is realised or the liability settled, based on tax rates that have been enacted or substantively enacted at the reporting date.
Table:
 | 31 March 2019 | 31 March 2018 Restated See note 2
 | $M | $M
Deferred income tax assets in relation to: |  | 
Deferred revenue | 40.9 | 40.0
Tax value of carry forward losses of UK subsidiaries | 37.0 | 24.2
Tax value of carry forward losses of overseas subsidiaries | 6.2 | 6.4
Advanced capital allowances | 7.5 | 7.7
Share-based payments | 11.6 | 27.7
Other temporary differences | 11.8 | 14.7
Total | 115.0 | 120.7
Deferred income tax liabilities in relation to: |  | 
Intangible assets | 6.1 | 5.9
Deferred selling cost | 8.5 | 8.5
Other temporary differences | - | 0.1
Total | 14.6 | 14.5


Question: Why is the tax rate likely to stabilize over the medium-term?
Answer: as the integration of acquisitions in higher rate jurisdictions are completed.
Year Ended December 31, 2018 Compared to the Year Ended December 31, 2017
Our management reviews and analyzes several key financial measures in order to manage our business and assess the quality of and variability of our service revenue, operating results and cash flows. The following summary tables present a comparison of our results of operations with respect to certain key financial measures. The comparisons illustrated in the tables are discussed in greater detail below.
Table:
 | Year Ended December 31, |  | 
 | 2018 | 2017 | Change
Other Operating Data |  |  | 
Average Revenue Per Unit (ARPU) |  |  | 
ARPU—on-net | $ 480 | $ 506 | (5.1)%
ARPU—off-net | $ 1,155 | $ 1,239 | (6.8)%
Average price per megabit | $ 0.82 | $ 1.11 | (25.9)%
Customer Connections—end of period |  |  | 
On-net | 68,770 | 61,334 | 12.1%
Off-net | 10,974 | 9,953 | 10.3%


Question: What are the respective APRU from off-net in 2017 and 2018 respectively?
Answer: $ 1,239, $ 1,155
Consolidated Statements of Earnings and Comprehensive Earnings
A detail of related party items included in Revenues is as follows (in millions):
(1) Transactions with FNF are summarized through November 30, 2019, the date after which FNF is no longer considered a related party.
Table:
 |  | Year ended December 31, | 
 | 2019 (1) | 2018 | 2017
Software services | $40.2 | $35.9 | $32.8
Data and analytics services | 19.3 | 21.7 | 24.0
Total related party revenues | $59.5 | $57.6 | $56.8


Question: What were the data and analytic services in 2017?
Answer: 24.0
Note 8: Net Income per Share
Basic net income per share is computed by dividing net income by the weighted-average number of common shares outstanding during the period. Diluted net income per share is computed using the treasury stock method, for dilutive stock options, restricted stock units, and convertible notes.
The following table reconciles the numerators and denominators of the basic and diluted computations for net income per share.
(1) Diluted shares outstanding do not include any effect resulting from note hedges associated with the Company’s 2018 Notes as their impact would have been anti-dilutive.
Table:
 |  | YearEnded | 
 | June 30, 2019 | June 24, 2018 | June 25, 2017
 |  | (in thousands, except per share data) | 
Numerator: |  |  | 
Net income | $2,191,430 | $2,380,681 | $1,697,763
Denominator: |  |  | 
Basic average shares outstanding | 152,478 | 161,643 | 162,222
Effect of potential dilutive securities: |  |  | 
Employee stock plans | 1,323 | 2,312 | 2,058
Convertible notes | 5,610 | 12,258 | 16,861
Warrants | 504 | 4,569 | 2,629
Diluted average shares outstanding | 159,915 | 180,782 | 183,770
Net income per share-basic | $14.37 | $14.73 | $10.47
Net income per share-diluted | $13.70 | $13.17 | $9.24


Question: What do the diluted shares outstanding not include?
Answer: any effect resulting from note hedges associated with the Company’s 2018 Notes as their impact would have been anti-dilutive
NOTE 15. ACCRUED EXPENSES AND OTHER PAYABLES
Accrued expenses and other payables consist of the following:
Personnel-related items comprise accrued management bonuses, accrued vacation days, accrued wage tax, social securities and pension premiums. Deferred revenue consists of the revenue relating to the undelivered elements of the arrangements, see Note 21 for more information. This part of revenue is deferred at their relative selling prices until delivery of these elements. Other includes accruals for VAT, other taxes and invoices to be received for goods and services.
Table:
 | December 31, | 
 | 2018 | 2019
Personnel-related items | 32,636 | 45,318
Deferred revenue | 28,255 | 32,146
Financing related items | – | 3,912
Current portion of lease liabilities | – | 7,002
Advanced payments from customers | 25,382 | 47,601
Supplier related items | 1,828 | 2,175
Marketing related items | 1,049 | 1,365
R&D projects | 1,209 | 1,109
Other | 8,634 | 9,215
Total accrued expenses and other payables | 98,993 | 149,843


Question: What are the components of Accrued expenses and other payables?
Answer: Personnel-related items, Deferred revenue, Financing related items, Current portion of lease liabilities, Advanced payments from customers, Supplier related items, Marketing related items, R&D projects, Other
17. Personnel expenses
Personnel expenses can be broken down as follows:
Wages and salaries include expenses relating to restructuring measures and severance payments of €23 million (2017/18: €19 million). The variable remuneration rose from €52 million in financial year 2017/18 to €81 million in financial year 2018/19. Wages and salaries also include expenses for long-term remuneration components totalling €7 million (2017/18: €16 million).
Table:
€ million | 2017/2018 | 2018/2019
Wages and salaries | 2,173 | 2,264
Social security expenses, expenses for post-employment benefits and related employee benefits | 552 | 552
thereof for post-employment benefits | (43) | (41)
 | 2,725 | 2,816


Question: What was the percentage change in personnel expenses in 2018/2019 from 2017/2018?
Answer: 3.34
Calculation: ((2,816-2,725)/2,725) * 100
The following is a breakdown of revenue by shipment destination (in thousands):
(1) Asia Pacific includes revenue from China $1.1 million or 11% and Japan of $1.8 million or 17% of total revenue in 2019 and $1.8 million or 15% and $1.6 million or 12% of total revenue in 2018, respectively. In 2017, revenue from China and Japan were $1.3 million or 11% and $1.5 million or 12%, respectively.
(2) North America includes revenue from the United States of $4.7 million or 46% of total revenue in 2019, $6.4 million or 50% of total revenue in 2018 and $4.2 million or 34% of total revenue in 2017.
Table:
 |  |  | Fiscal Years
 | 2019 | 2018 | 2017
Revenue by geography: |  |  | 
Asia Pacific (1) | $3,049 | $4,905 | $5,810
Europe | 2,459 | 1,280 | 2,015
North America (2) | 4,802 | 6,444 | 4,324
Total revenue | $10,310 | $12,629 | $12,149


Question: What is the respective revenue from Europe in 2018 and 2019?
Answer: 1,280, 2,459
Share-based Compensation Expense The following table summarizes total compensation costs recognized for share-based payments during the years ended December 31, 2019, 2018 and 2017:
Income tax benefits related to share-based compensation of approximately $1.8 million, $1.3 million and $1.1 million were recorded for the years ended December 31, 2019, 2018 and 2017, respectively. Share-based compensation expense is included in “selling, general and administrative expenses” in the accompanying consolidated statements of operations.
As of December 31, 2019, total unrecognized compensation cost related to non-vested RSAs and PSAs was $10.6 million and will be recognized over a weighted-average period of approximately 1.7 years.
Table:
 |  | Year Ended December 31, | 
(In thousands) | 2019 | 2018 | 2017
Restricted stock | $ 4,013 | $ 3,249 | $ 1,986
Performance shares | 2,823 | 1,870 | 780
Total | $ 6,836 | $ 5,119 | $ 2,766


Question: What was the increase / (decrease) in the performance shares from 2018 to 2019?
Answer: 953
Calculation: 2,823 - 1,870
Geographic Revenue
In addition to the revenue presentation by reportable segment, we also measure revenue performance on a geographic basis.
Total revenue of $77,147 million in 2019 decreased 3.1 percent year to year as reported (1 percent adjusted for currency), but increased 0.2 percent excluding divested businesses and adjusted for currency.
Americas revenue decreased 1.9 percent as reported (1 percent adjusted for currency), but grew 1 percent excluding divested businesses and adjusted for currency. Within North America, the U.S. decreased 2.4 percent and Canada increased 4.0 percent as reported (6 percent adjusted for currency). Latin America declined as reported but grew adjusted for currency. Within Latin America, Brazil declined 4.8 percent as reported, but was flat adjusted for currency.
EMEA revenue decreased 4.1 percent as reported, but was essentially flat adjusted for currency and increased 1 percent excluding divested businesses and adjusted for currency. As reported, the U.K., France and Italy decreased 2.9 percent, 4.1 percent and 1.3 percent, respectively, but grew 1 percent, 1 percent and 4 percent, respectively, adjusted for currency. Germany decreased 7.9 percent as reported and 3 percent adjusted for currency. The Middle East and Africa region decreased 3.5 percent as reported and 2 percent adjusted for currency.
Asia Pacific revenue decreased 4.0 percent as reported (3 percent adjusted for currency) and 2 percent excluding divested businesses and adjusted for currency. Japan increased 2.3 percent as reported and 1 percent adjusted for currency.
Australia decreased 17.3 percent as reported and 11 percent adjusted for currency. China decreased 13.4 percent as reported and 11 percent adjusted for currency and India decreased 8.1 percent as reported and 5 percent adjusted for currency.
Table:
($ in millions) |  |  |  |  | 
For the year ended December 31: | 2019 | 2018 | Yr.-to-Yr. Percent Change | Yr.-to-Yr. Percent Change Adjusted for Currency | Yr.-to-Yr. Percent Change Excluding Divested Businesses And Adjusted for Currency
Total revenue | $77,147 | $79,591 | (3.1)% | (1.0)% | 0.2%
Americas | $36,274 | $36,994 | (1.9)% | (1.1)% | 0.8%
Europe/Middle East/Africa | 24,443 | 25,491 | (4.1) | 0.4 | 1.3
Asia Pacific | 16,430 | 17,106 | (4.0) | (3.0) | (2.5)


Question: What was the increase / (decrease) in the Asia Pacific revenue from 2018 to 2019?
Answer: -676
Calculation: 16,430 - 17,106