hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
The Company incurred approximately $106,000 in legal, professional, and other costs related to this acquisition accounted for as selling and administrative expenses when incurred. The remaining weighted-average useful life of intangible assets acquired was 12.5 years as of the acquisition date.
As the active cabinet business was not operated as a separate subsidiary, division or entity, Calix did not maintain separate financial statements for the active cabinet business. As a result, we are unable to accurately determine earnings/loss for the active cabinet business on a standalone basis since the date of acquisition.
The following table below reflects our unaudited pro forma combined results of operations as if the acquisition had taken place as of October 1, 2016 and shows the net sales and net income as if the active cabinet business were combined with the Clearfield business for the years ended September 30, 2018 and 2017.
The pro forma includes estimated expenses relating to the amortization of intangibles purchased, the amortization of the inventory fair value adjustment, and estimated personnel costs:
The pro forma unaudited results do not purport to be indicative of the results which would have been obtained had the acquisition been completed as of the beginning of the earliest period presented or of results that may be obtained in the future. In addition, they do not include any benefits that may result from the acquisition due to synergies that may be derived from the elimination of any duplicative costs.
Table:
 | Pro Forma Year Ended September 30, 2018 (unaudited) | Pro Forma Year Ended September 30, 2017 (unaudited)
Net sales | $80,958,789 | $89,672,074
Income from operations | $5,554,766 | $8,174,841
Net income | 4,794,757 | $5,809,018
Net income per share: |  | 
Basic | 0.36 | $0.43
Diluted | 0.36 | $0.43


Question: What is the percentage change in the income from operations from 2017 to 2018?
Answer: -32.05
Calculation: ((5,554,766-8,174,841)/8,174,841) * 100
Non-Recurring Fair Value
Certain assets, under certain conditions, are measured at fair value on a nonrecurring basis utilizing Level 3 inputs, as described in Note 1, Overview and Summary of Significant Accounting Policies, like those associated with acquired businesses, including goodwill, other intangible assets, other long-lived assets and equity method investments. For these assets, measurement at fair value in periods subsequent to their initial recognition would be applicable if these assets were determined to be impaired.
The adjusted carrying values for assets measured at fair value on a nonrecurring basis (no liabilities) subject to the requirements of ASC 820 were not material at December 31, 2019 and 2018. The following table summarizes the total impairment losses in the accompanying Consolidated Statements of Operations related to nonrecurring fair value measurements of certain assets (no liabilities):
In connection with the closure of certain under-utilized customer engagement centers and the consolidation of leased space in the U.S. and Canada, the Company recorded impairment charges of $1.7 million, $9.4 million and $5.2 million during the years ended December 2019, 2018 and 2017, respectively, related to the exit of leased facilities as well as leasehold improvements, equipment, furniture and fixtures which were not recoverable. See Note 5, Costs Associated with Exit or Disposal Activities, for further information.
Also, the Company recorded an impairment charge of $0.2 million related to the write-down of a vacant and unused parcel of land in the U.S. to its estimated fair value during the year ended December 31, 2017.
Table:
 |  | Years Ended December31, | 
 | 2019 | 2018 | 2017
Americas: |  |  | 
Property and equipment, net | $(343) | $(9,401) | $(5,410)
Operating lease right-of-use assets | (1,368) | — | —
 | $(1,711) | $(9,401) | $(5,410)


Question: What was the percentage change in Property and equipment, net in 2018 from 2017?
Answer: 73.77
Calculation: ((-$9,401-(-$5,410))/-$5,410) * 100
Results of Operations
The following table sets forth our consolidated statement of operations for the years ended December 31, 2019, 2018, and 2017.
(1) Includes stock-based compensation expense and related payroll taxes as follows:
Table:
 |  | Years ended December 31, | 
 | 2019 | 2018 | 2017
 | (in thousands, except share and per share data) |  | 
Revenues: |  |  | 
Subscription solutions | $642,241 | $464,996 | $310,031
Merchant solutions | 935,932 | 608,233 | 363,273
 | 1,578,173 | 1,073,229 | 673,304
Cost of revenues(1)(2): |  |  | 
Subscription solutions | 128,155 | 100,990 | 61,267
Merchant solutions | 584,375 | 375,972 | 231,784
 | 712,530 | 476,962 | 293,051
Gross profit | 865,643 | 596,267 | 380,253
Operating expenses: |  |  | 
Sales and marketing(1)(2) | 472,841 | 350,069 | 225,694
Research and development(1)(2) | 355,015 | 230,674 | 135,997
General and administrative(1) | 178,934 | 107,444 | 67,719
Total operating expenses | 1,006,790 | 688,187 | 429,410
Loss from operations | (141,147) | (91,920) | (49,157)
Other income | 45,332 | 27,367 | 9,162
Loss before income taxes | (95,815) | (64,553) | (39,995)
Provision for income taxes | 29,027 | — | —
Net loss | $(124,842) | $(64,553) | $(39,995)
Basic and diluted net loss per share attributable to shareholders | $(1.10) | $(0.61) | $(0.42)
Weighted average shares used to compute net loss per share attributable to shareholders | 113,026,424 | 105,671,839 | 95,774,897


Question: What is the average total operating expenses for 2018 and 2019?
Answer: 847488.5
Calculation: (1,006,790+688,187)/2
Notes: (1) TWDV – Tax written down value
(2) NBV – Net book value
Deferred tax assets and liabilities are offset when there is a legally enforceable right to set-off current tax assets against current tax liabilities, and when deferred income taxes relate to the same fiscal authority.
Table:
Company - 2018 | Provisions | Others | Total
Deferred tax assets | S$ Mil | S$ Mil | S$ Mil
Balance as at 1 April 2017 | 0.3 | 2.8 | 3.1
Effects of adoption of SFRS(I) 15 | - | (1.0) | (1.0)
Balance as at 1 April 2017, restated | 0.3 | 1.8 | 2.1
Credited to income statement | 0.2 | 9.0 | 9.2
Balance as at 31 March 2018 | 0.5 | 10.8 | 11.3
 |  | Accelerated tax | 
Company - 2018 |  | depreciation | Total
Deferred tax liabilities |  | S$ Mil | S$ Mil
Balance as at 1 April 2017 |  | (285.3) | (285.3)
Effects of adoption of SFRS(I) 1 |  | 10.2 | 10.2


Question: Which factor contributed the most significantly to deferred tax assets?
Answer: Others
Calculation: 10.8 > 0.5
29. Share-based payments continued
The number of options outstanding and exercisable as at 31 March was as follows:
The weighted average market value per ordinary share for DABP options exercised in 2019 was 438.1p (2018: n/a). The DABP awards outstanding at 31 March 2018 have a weighted average remaining vesting period of 0.8 years (2018: 1.2 years) and a weighted average contractual life of 8.8 years (2018: 9.2 years). The charge for the year includes an estimate of the awards to be granted after the balance sheet date in respect of achievement of 2019 targets.
Table:
 | 2019 | 2018
 | Number | Number
Outstanding at 1 April | 303,880 | 248,263
Options granted in the year | 71,552 | 127,691
Dividend shares awarded | 3,343 | 1,306
Options forfeited in the year | – | (73,380)
Options exercised in the year | (229,378) | –
Outstanding at 31 March | 149,397 | 303,880
Exercisable at 31 March | – | 74,686


Question: What was the change in Dividend shares awarded in 2019 from 2018?
Answer: 2037
Calculation: 3,343-1,306
Gross Profit
Gross profit in fiscal year 2019 increased to $444.8 million, or 18.7 percent of net sales from $382.3 million, or 17.7 percent of net sales for fiscal year 2018. Excluding the impact of the surcharge revenue, our gross margin in fiscal year 2019 was 22.9 percent compared to 21.3 percent in fiscal year 2018. The results reflect the impact of improved product mix coupled with capacity gains and operating cost reductions compared to the same period a year ago. Fiscal year 2019 also reflects an $11.4 million benefit related to an insurance recovery in our third fiscal quarter.
Our surcharge mechanism is structured to recover increases in raw material costs, although in certain cases with a lag effect as discussed above. While the surcharge generally protects the absolute gross profit dollars, it does have a dilutive effect on gross margin as a percent of sales. The following represents a summary of the dilutive impact of the surcharge on gross margin. We present and discuss these financial measures because management believes removing the impact of surcharge provides a more consistent and meaningful basis for comparing results of operations from period to period. See the section “Non-GAAP Financial Measures” below for further discussion of these financial measures.
Table:
 | Fiscal Year | 
($ in millions) | 2019 | 2018
Net sales | $2,380.2 | $2,157.7
Less: surcharge revenue | 438.1 | 365.4
Net sales excluding surcharge revenue | $1,942.1 | $1,792.3
Gross profit | $444.8 | $382.3
Gross margin | 18.7% | 17.7%
Gross margin excluding surcharge revenue | 22.9% | 21.3%


Question: How is the surcharge mechanism structured?
Answer: to recover increases in raw material costs, although in certain cases with a lag effect as discussed above. While the surcharge generally protects the absolute gross profit dollars, it does have a dilutive effect on gross margin as a percent of sales.
Presentation of Derivative Gains (Losses) from Economic Hedges of Forecasted Cash Flows in Segment Results
Derivatives used to manage commodity price risk and foreign currency risk are not designated for hedge accounting treatment. We believe these derivatives provide economic hedges of certain forecasted transactions. As such, these derivatives are generally recognized at fair market value with realized and unrealized gains and losses recognized in general corporate expenses. The gains and losses are subsequently recognized in the operating results of the reporting segments in the period in which the underlying transaction being economically hedged is included in earnings. In the event that management determines a particular derivative entered into as an economic hedge of a forecasted commodity purchase has ceased to function as an economic hedge, we cease recognizing further gains and losses on such derivatives in corporate expense and begin recognizing such gains and losses within segment operating results, immediately.
The following table presents the net derivative gains (losses) from economic hedges of forecasted commodity consumption and the foreign currency risk of certain forecasted transactions associated with continuing operations, under this methodology:
As of May 26, 2019, the cumulative amount of net derivative gains from economic hedges that had been recognized in general corporate expenses and not yet allocated to reporting segments was $1.4 million. This amount reflected net gains of $1.0 million incurred during the fiscal year ended May 26, 2019, as well as net gains of $0.4 million incurred prior to fiscal 2019. Based on our forecasts of the timing of recognition of the underlying hedged items, we expect to reclassify to segment operating results gains of $0.9 million in fiscal 2020 and $0.5 million in fiscal 2021 and thereafter.
Table:
 |  | Fiscal Years Ended | 
($ in millions) | May 26, 2019 | May 27, 2018 | May 28, 2017
Net derivative gains (losses) incurred | $(3.6) | $(0.9) | $0.6
Less: Net derivative gains (losses) allocated to reporting segments | (1.8) | (7.1) | 5.7
Net derivative gains (losses) recognized in general corporate expenses | $(1.8) | $6.2 | $(5.1)
Net derivative gains (losses) allocated to Grocery & Snacks | $(2.1) | $0.2 | $3.4
Net derivative gains (losses) allocated to Refrigerated & Frozen | (1.1) | (0.3) | 0.8
Net derivative gains (losses) allocated to International Foods . | 2.8 | (6.9) | 1.6
Net derivative losses allocated to Foodservice . | (0.6) | (0.1) | —
Net derivative losses allocated to Pinnacle Foods | (0.8) | — | —
Net derivative losses allocated to Commercial . | — | — | (0.1)
Net derivative gains (losses) included in segment operating profit . | $(1.8) | $(7.1) | $5.7


Question: What is the ratio of net derivative gains in segment operating profit in the fiscal year 2017 to expected operating result gains in the fiscal year 2020?
Answer: 6.33
Calculation: 5.7/0.9
NOTE 24. EARNINGS PER SHARE
Basic net earnings per common share is calculated by dividing net income attributable to common shareholders by the weighted average number of common shares outstanding for that period. The dilutive effect is calculated using the treasury stock method. The calculation of diluted net income per share assumes the exercise of options issued under our stock option plans (and the issuance of shares under our share plans) for periods in which exercises (or issuances) would have a dilutive effect.
The calculation of basic and diluted net income per share attributable to common shareholders is based on the following data:
Table:
 | December 31, | 
 | 2018 | 2019
Net earnings used for purposes of calculating net income per common share |  | 
Net earnings from operations | 157,133 | 329,013
Basic weighted average number of shares outstanding during the year (thousands) | 52,432 | 49,418
Effect of dilutive potential common shares from stock options and restricted shares | 678 | 580
Dilutive weighted average number of shares outstanding | 53,110 | 49,999
Basic net earnings per share: from operations | 3.00 | 6.66
Diluted net earnings per share: | 2.96 | 6.58


Question: What is the percentage change in Net earnings from operations from 2018 to 2019?
Answer: 109.39
Calculation: (( 329,013 - 157,133)/157,133 ) * 100
Key Business Metrics
In addition to the measures presented in our consolidated financial statements, we use the following key metrics to evaluate our business, measure our performance, develop financial forecasts, and make strategic decisions.
Devices Sold
Devices sold represents the number of wearable devices that are sold during a period, net of expected returns. Devices sold does not include sales of accessories. Growth rates between devices sold and revenue are not necessarily correlated because our revenue is affected by other variables, such as the types of products sold during the period, the introduction of new product offerings with differing U.S. manufacturer’s suggested retail prices, or MSRPs, and sales of accessories and premium services.
Active Users
We grow our community of users through device sales and investment in software to drive engagement. We define an active user as a registered Fitbit user who, within the three months prior to the date of measurement, has (a) an active Fitbit Premium or Fitbit Coach subscription, (b) paired a wearable device or Aria scale with his or her Fitbit account, or (c) logged at least 100 steps with a wearable device or a weight measurement using an Aria scale. Active users can be new users who joined the community during the past 90 days, existing users who have remained active, or previously active users who were inactive for 90 days or greater, if they meet the preceding definition of an active user. The active user number excludes users who have downloaded our mobile apps without purchasing any of our wearable devices and users who have downloaded free versions of Fitbit Coach but are not subscribers to its paid premium offerings.
Table:
 |  | For the Year Ended or As of December 31, | 
 | 2019 | 2018 | 2017
 |  | (in thousands) | 
Devices sold | 15,988 | 13,939 | 15,343
Active users | 29,566 | 27,627 | 25,367
Adjusted EBITDA | $(128,333) | $(31,361) | $(52,158)
Free cash flow | $(193,363) | $60,327 | $(24,919)


Question: What is the change in the number of active users between 2018 and 2019?
Answer: 1939
Calculation: 29,566-27,627
NOTE 24. EARNINGS PER SHARE
Basic net earnings per common share is calculated by dividing net income attributable to common shareholders by the weighted average number of common shares outstanding for that period. The dilutive effect is calculated using the treasury stock method. The calculation of diluted net income per share assumes the exercise of options issued under our stock option plans (and the issuance of shares under our share plans) for periods in which exercises (or issuances) would have a dilutive effect.
The calculation of basic and diluted net income per share attributable to common shareholders is based on the following data:
Table:
 | December 31, | 
 | 2018 | 2019
Net earnings used for purposes of calculating net income per common share |  | 
Net earnings from operations | 157,133 | 329,013
Basic weighted average number of shares outstanding during the year (thousands) | 52,432 | 49,418
Effect of dilutive potential common shares from stock options and restricted shares | 678 | 580
Dilutive weighted average number of shares outstanding | 53,110 | 49,999
Basic net earnings per share: from operations | 3.00 | 6.66
Diluted net earnings per share: | 2.96 | 6.58


Question: How is Basic net earnings per common share calculated
Answer: dividing net income attributable to common shareholders by the weighted average number of common shares outstanding for that period
Disaggregation of Revenue
The Company allocates sales from external customers to geographic areas based on the location to which the product is transported. Sales outside the United States are principally to customers in countries in the Caribbean, Canada, Central and South America.
The following table presents our domestic and international sales for each of the last three fiscal years:
Long-lived assets: As of September 30, 2019 and 2018, the Company had property, plant and equipment with a net book value of $1,406,546 and $412,755, respectively, located in Mexico.
Table:
 |  | Year Ended September 30, | 
 | 2019 | 2018 | 2017
United States | $78,553,000 | $72,295,000 | $67,901,000
All Other Countries | 6,481,000 | 5,356,000 | 6,047,000
Total Net Sales | 85,034,000 | $77,651,000 | $73,948,000


Question: What is the percentage change in the United States sales from 2018 to 2019?
Answer: 8.66
Calculation: ((78,553,000-72,295,000)/72,295,000) * 100
8. Directors and Key Management remuneration
The remuneration of Directors is disclosed in the Directors’ remuneration report on pages 64 to 74:
Key Management compensation
During the year to 31 March 2019, Key Management comprised the members of the OLT and the Non-Executive Directors (2018: OLT and the Non-Executive Directors). The remuneration of all Key Management (including Directors) was as follows:
Table:
 | 2019 | 2018
 | £m | £m
Short-term employee benefits | 5.3 | 4.9
Share-based payments | 3.5 | 2.6
Termination benefits | – | 0.1
Pension contributions | 0.2 | 0.2
Total | 9.0 | 7.8


Question: What was the change in the total compensation in 2019 from 2018?
Answer: 1.2
Calculation: 9.0-7.8
The reconciliation from non-current segment assets to non-current group assets is shown in the following table: non-current assets according to segment reporting only include the values of continuing operations in the previous year. Therefore, the non-current assets of METRO China must be taken into account in the previous year and are therefore part of the reconciliation:
1 Adjustment of previous year according to explanation in notes.
Table:
€ million | 30/9/2018 | 30/9/2019
Non-current segment assets | 6,348 | 6,268
plus non-current segment assets METRO China | 560 | 0
Financial assets | 88 | 97
Investments accounted for using the equity method | 178 | 179
Deferred tax assets | 329 | 191
Other | 1 | 1
Non-current group assets | 7,503 | 6,736


Question: What was the percentage change in Other in FY2019 from FY2018?
Answer: 0
Calculation: (1-1)/1
Other Income (Expense), Net
Additional information relating to Other income (expense), net is as follows:
nm -not meaningful
The change in Other income (expense), net during the year ended December 31, 2019, compared to the similar period in 2018, was primarily driven by early debt redemption costs of $3.6 billion recorded during 2019, compared to $725 million recorded during 2018 (see “Special Items”) as well as pension and benefit charges of $126 million recorded in 2019, compared with pension and benefit credits of $2.1 billion recorded in 2018 (see “Special Items”).
Table:
 |  |  | (dollars in millions)  Increase/ (Decrease) | Increase/ (Decrease)
Years Ended December 31, | 2019 | 2018 | (dollars in millions) | 2019 vs. 2018
Interest income  | $ 121 | $ 94 | $ 27 | 28.7%
Other components of net periodic benefit cost  | 627 | 3,068 | (2,441) | (79.6)
Early debt extinguishment costs  | (3,604) | (725) | (2,879) | nm 
Other, net  | (44) | (73) | 29 | 39.7
Total  | $ (2,900) | $2,364 | $ (5,264) | nm 


Question: What was the pension and benefit credits in 2018?
Answer: $2.1 billion
Other Income (Expense), Net
Interest expense decreased $54.7 million during fiscal 2019 as compared to fiscal 2018, primarily due to elimination of the non-recourse residential financing obligations in connection with the sale of the Residential Lease Portfolio in November 2018, as well as the elimination of the sales-leaseback financing obligations in connection with the sale of the commercial sale-leaseback portfolio during the first and second quarters of fiscal 2019.
Interest expense increased $17.7 million in fiscal 2018 as compared to fiscal 2017 primarily due to new debt and new commercial sale-leaseback arrangements.
Other income increased by $119.4 million during fiscal 2019 as compared to fiscal 2018, primarily due to a $158.3 million gain on an equity investment with readily determinable fair value in fiscal 2019, as compared to a loss of $6.4 million in fiscal 2018. Additionally, gain on sale of equity investments during fiscal 2019 was $17.7 million, compared to $54.2 million in fiscal 2018.
Other income increased by $143.0 million in fiscal 2018 as compared to fiscal 2017. The change is primarily due to a $54.2 million gain on the sale of our equity method investments in fiscal 2018, a $73.0 million impairment charge in fiscal 2017 in our 8point3 Energy Partners LP equity investment balance due to the adoption of ASC 606 which materially increased the investment balance and consequently, led to the recognition of an other-than-temporary impairment in the first quarter of fiscal 2017.
Table:
 |  | Fiscal Year | 
(In thousands, except percentages) | 2019 | 2018 | 2017
Interest income | $2,702 | $3,057 | $2,100
Interest expense | (53,353) | (108,011) | (90,288)
Other Income (expense): |  |  | 
Other, net | 174,734 | 55,314 | (87,645)
Other income (expense), net | $124,083 | $(49,640) | $(175,833)
As a percentage of revenue | 7% | (3)% | (10)%


Question: How much did interest expense change from 2018 to 2019?
Answer: Decreased $54.7 million
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 was purchased in fiscal 2019?
Answer: approximately 172 million pounds of copper, 122,000 troy ounces of gold, and 2.6 million troy ounces of silver