hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
Liquidity risk
Our policy is to maintain a strong capital base so as to maintain investor, creditor and market confidence and to sustain future development of the business.
Our liquidity needs are affected by many factors, some of which are based on the normal on-going operations of the business, and others that relate to the uncertainties of the global economy and the semiconductor industry. Although our cash requirements fluctuate based on the timing and extent of these factors, we believe that cash generated from operations, together with our principal sources of liquidity are sufficient to satisfy our current requirements, including our expected capital expenditures in 2020.
We intend to return cash to our shareholders on a regular basis in the form of dividend payments and, subject to our actual and anticipated liquidity requirements and other relevant factors, share buybacks.
The following table summarizes the Company’s contractual and other obligations as at December 31, 2019.
Total short-term lines of credit amounted to €150 million at December 31, 2019. The amount outstanding at December 31, 2019 was nil and the undrawn portion totaled €150 million. The standby revolving credit facility of €150 million with a consortium of banks will be available through December 16, 2023.
For the majority of purchase commitments, the Company has flexible delivery schedules depending on the market conditions, which allows the Company, to a certain extent, to delay delivery beyond originally planned delivery schedules.
Table:
 | Total | Less than 1 year | 1-5 years | More than 5 years
Accounts payable | 119,712 | 119,712 | — | —
Income tax payable | 34,599 | 34,599 | — | —
Accrued expenses and other payables | 149,843 | 149,843 | — | —
Lease liabilities | 24,261 | 6,977 | 14,726 | 2,558
Pension liabilities | 7,734 | 333 | 2,544 | 4,857
Purchase obligations: |  |  |  | 
Purchase commitments to suppliers | 100,694 | 99,546 | 1,148 | —
Capital expenditure and other commitments | 43,692 | 40,745 | 2,947 | —
Total contractual obligations | 480,535 | 451,755 | 21,365 | 7,415


Question: What are the time periods for the obligations for the company?
Answer: Less than 1 year, 1-5 years, More than 5 years
table of contents in this form 10-k , we discuss non-gaap income before income taxes , non-gaap net income , non-gaap net income per diluted share , ebitda , adjusted ebitda and adjusted ebitda margin , which are non-gaap financial measures . we believe these measures provide analysts , investors and management with helpful information regarding the underlying operating performance of our business , as they remove the impact of items that management believes are not reflective of underlying operating performance . management uses these measures to evaluate period-over-period performance as management believes they provide a more comparable measure of the underlying business . additionally , adjusted ebitda is a measure in the credit agreement governing our senior secured term loan facility ( 201cterm loan 201d ) , which is used to evaluate our ability to make certain investments , incur additional debt , and make restricted payments , such as dividends and share repurchases , as well as whether we are required to make additional principal prepayments on the term loan beyond the quarterly amortization payments . for further details regarding the term loan , see long-term debt and financing arrangements within management 2019s discussion and analysis of financial condition and results of operations and note 10 ( long-term debt ) to the accompanying consolidated financial statements . for the definitions of non-gaap income before income taxes , non-gaap net income and adjusted ebitda and reconciliations to net income , see 201cresults of operations 201d . the results of certain key business metrics are as follows: .

Table:
( dollars in millions ) | years ended december 31 , 2017 | years ended december 31 , 2016 | years ended december 31 , 2015
net sales | $ 15191.5 | $ 13981.9 | $ 12988.7
gross profit | 2449.9 | 2327.2 | 2115.8
income from operations | 866.1 | 819.2 | 742.0
net income | 523.0 | 424.4 | 403.1
non-gaap net income | 605.8 | 569.0 | 503.5
adjusted ebitda | 1185.6 | 1117.3 | 1018.5
average daily sales | 59.8 | 55.0 | 51.1
net debt ( 1 ) | 3091.3 | 2970.7 | 3222.1
cash conversion cycle ( in days ) ( 2 ) | 19 | 19 | 21
net debt ( 1 ) 3091.3 2970.7 3222.1 cash conversion cycle ( in days ) ( 2 ) 19 19 21 ( 1 ) defined as total debt minus cash and cash equivalents .
( 2 ) cash conversion cycle is defined as days of sales outstanding in accounts receivable and certain receivables due from vendors plus days of supply in merchandise inventory minus days of purchases outstanding in accounts payable and accounts payable-inventory financing , based on a rolling three-month average. .

Question: what was 2017 gross margin percent?
Answer: 16.1%
Calculation: divide(2449.9, 15191.5)
The following table presents each NEO’s base salary for FY19.
(1) Mr. Kapuria was named an executive officer during FY19 and received a salary increase in connection with his promotion. His salary increased from $390,000 to $440,000 effective May 8, 2018.
As presented in the table above, our named executive officers did not receive an increase in annual base salary other than in connection with a promotion for Mr. Kapuria. Our former CEO determined that none of our other NEOs would receive a base salary increase for FY19. In addition, our Board also determined that Mr. Clark would not receive a salary increase in FY19.
Table:
 | FY18 | Change in | FY19
NEO | Annual Salary ($) | Salary (%) | Annual Salary
Gregory S. Clark | 1,000,000 | — | 1,000,000
Nicholas R. Noviello | 650,000 | — | 650,000
Amy L. Cappellanti-Wolf | 440,000 | — | 440,000
Samir Kapuria(1) | 390,000(1) | 60,000(1) | 450,000
Scott C. Taylor | 600,000 | — | 600,000


Question: What is the average FY19 NEO annual salary?
Answer: 628000
Calculation: (1,000,000+650,000+440,000+450,000+600,000)/5
Change in Product Mix and Technology Migration
Because the price of wafers processed with different technologies varies significantly, the mix of wafers that we produce is among the primary factors that affect our revenues and profitability. The value of a wafer is determined principally by the complexity and performance of the processing technology used to produce the wafer, as well as by the yield and defect density. Production of devices with higher levels of functionality and performance, with better yields and lower defect density as well as with greater system-level integration requires better manufacturing expertise and generally commands higher wafer prices. The increase in price generally has more than offset associated increases in production cost once an appropriate economy of scale is reached.
Prices for wafers of a given level of technology generally decline over the processing technology life cycle. As a result, we have continuously been migrating to increasingly sophisticated technologies to maintain the same level of profitability. We began our volume production with 65-nanometer and 40-nanometer technologies in 2006 and 2009, respectively. We introduced our 28-nanometer technology to customers in 2011 and started large-scale commercial production in 2014. Our 28nm and below technologies contributed approximately 17.1%, 15.2% and 11.3% of our foundry revenue in 2017, 2018 and 2019 respectively.
Table:
 |  | Years Ended December 31, | 
Process Technologies | 2017 | 2018 | 2019
 | % | % | %
14 nanometers and under | 0.9 | 2.6 | 0.0
28 nanometers | 16.2 | 12.6 | 11.3
40 nanometers | 28.4 | 25.3 | 23.1
65 nanometers | 12.3 | 12.5 | 14.7
90 nanometers | 4.9 | 8.3 | 13.6
0.11/0.13 micron | 11.5 | 11.6 | 12.6
0.15/0.18 micron | 12.4 | 13.7 | 13.1
0.25/0.35 micron | 10.0 | 10.1 | 8.7
0.50 micron or higher | 3.4 | 3.3 | 2.9
Total | 100.0 | 100.0 | 100.0


Question: In which year were the 65-nanometer technology introduced by the company?
Answer: 2011
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 movement in Americas revenue?
Answer: 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.
(1) Mr. Clark did not receive a FY19 EAIP payout.
(2) Pursuant to the terms of Mr. Noviello’s Transition Services Agreement dated January 31, 2019 (the ‘‘Transition Services Agreement’’), Mr. Noviello received 75% of his target FY19 EAIP amount under the Company’s Executive Severance Plan because it was greater than the amount that he would have earned under the FY19 EAIP irrespective of individual performance.
(3) Ms. Cappellanti-Wolf and Messrs. Kapuria and Taylor each earned an individual performance factor of 100%. In determining the appropriate individual performance factor for each of these executives, the Compensation Committee, with recommendation of the CEO, considered leadership, contributions to NortonLifeLock’s achievement of its goals, and strategic planning among other factors.
(4) The Compensation Committee did not exercise its discretion to reduce any payouts.
Table:
 | FY19 EAIP NEO Payout Amounts |  |  |  | 
NEO | Base Salary | Annual Incentive Target (%) | Company Performance Funding (%) | Individual Performance Factor (%) | Individual Payout Amount ($)(4)
Gregory S. Clark(1) | 1,000,000 | 150 | n/a | n/a | 0
Nicholas R. Noviello(2) | 650,000 | 100 | n/a | n/a | 487,500
Amy L. Cappellanti-Wolf(3) | 440,000 | 70 | 35.6 | 100 | 109,648
Samir Kapuria(3) | 450,000 | 100 | 35.6 | 100 | 152,172
Scott C. Taylor(3) | 600,000 | 100 | 35.6 | 100 | 213,600


Question: Were any FY19 EAIP payouts reduced by the Compensation Committee?
Answer: The Compensation Committee did not exercise its discretion to reduce any payouts
Income Tax Provision (Benefit)
The income tax benefit for the year ended December 31, 2019 was $12.6 million or approximately 39% of pre-tax loss compared to an income tax benefit of $6.7 million or approximately 20% of pre-tax loss for the year ended December 31, 2018.
The income tax benefit for the year ended December 31, 2019 primarily related to the mix of pre-tax income among jurisdictions, discrete tax benefits related to stockbased compensation, and release of certain reserves for uncertain tax positions under ASC 740-10.
The income tax benefit for the year ended December 31, 2018 primarily related to a partial release of our valuation allowance and the mix of pre-tax income among jurisdictions, excess tax benefits related to stock-based compensation, and release of uncertain tax positions under ASC 740-10.
Table:
 | Year Ended December 31, |  | % Change
 | 2019 | 2018 | 2019
 |  | (dollars in thousands) | 
Income tax benefit | $(12,586) | $(6,653) | 89%
% of pre-tax loss | 39% | 20% | 


Question: What was the respective income tax benefits in 2019 and 2018?
Answer: $12.6 million, $6.7 million
Loss per share
Basic loss per share are computed based on the weighted average number of common shares outstanding during the period. Diluted earnings/loss per share reflect the dilutive impact of outstanding stock options and restricted stock awards. Included in the weighted average shares outstanding is the share consideration in connection with the Restaurant Magic Acquisition (See Note 2 - Acquisitions) in the amount of 908,192 for the period after the close of the transaction. The shares were issued in January 2020, however, no contingencies existed as of the date of the acquisition.
The following is a reconciliation of the weighted average shares outstanding for the basic and diluted loss per share computations (in thousands, except share and per share data):
At December 31, 2019 and 2018 there were 383,000 and 750,000 incremental shares, respectively, from the assumed exercise of stock options that were excluded from the computation of diluted earnings per share because of the anti-dilutive effect on earnings per share. There were 308,000 restricted stock awards excluded from the computation of diluted earnings per share for the fiscal year ended 2019 and 113,000 for the fiscal year ended 2018.
Table:
 | 2019 | 2018
Net Loss | $(15,571) | $(24,122)
Basic: |  | 
Weighted average shares outstanding at beginning of year | 16,041 | 15,949
Weighted average shares issued during the year, net | 182 | 92
Weighted average common shares, basic | 16,223 | 16,041
Loss from per common share, basic | $(0.96) | $(1.50)
Diluted: |  | 
Weighted average common shares, basic | 16,223 | 16,041
Dilutive impact of stock options and restricted stock awards | — | —
Weighted average common shares, diluted | 16,223 | 16,041
Loss per common share, diluted | $ (0.96) | $ (1.50)


Question: What is the average Net Loss for December 31, 2018 and 2019?
Answer: 19846.5
Calculation: (15,571+24,122) / 2
Research and Development Expense
Research and development expense increased by $19.1 million in 2018 compared to 2017. The increase was primarily due to a $18.1 million increase in employee-related costs, which includes stock-based compensation, associated with our increased headcount from 159 employees as of December 31, 2017 to 229 employees as of December 31, 2018. The remaining increase was principally the result of a $2.9 million increase in hosting and software related cost to support research and development activities and an increase of $0.3 million in software subscription cost which was offset by a $1.0 million decrease in office related expenses to support research and development activities. A total of $7.8 million of internally-developed software costs during 2018 and $6.3 million of internally-developed software costs during 2017 were capitalized, resulting in a decrease of the expense by $1.4 million compared to 2017.
Table:
 | Year Ended December 31, |  | Change | 
 | 2018 | 2017 | $ | %
 |  | (dollars in thousands) |  | 
Research and development | $ 41,305 | $ 22,241 | $ 19,064 | 85.7%
% of revenue | 28% | 21% |  | 


Question: What was the increase in the research and development in 2018?
Answer: $19.1 million
General and Administrative
General and administrative expenses increased $71.5 million, or 66.5%, for the year ended December 31, 2019 compared to the same period in 2018, due to an increase of $28.7 million in employee-related costs ($12.2 million of which related to stock-based compensation and related payroll taxes), a $14.9 million increase in finance costs, which include an estimated net liability for non-recurring HST payable to the Government of Canada in the amount of $8.1 million related to 2019 and prior years, sales and use and other value added taxes, insurance, and bank fees, a $9.0 million increase in Shopify Payments losses driven by increased GMV processed through Shopify Payments, a $8.6 million increase in losses and insurance related to Shopify Capital driven by an expansion of our Capital offerings and programs, a $6.9 million increase in professional services fees for legal and tax services, including those related to our international expansion and the growth of our business, a $1.8 million increase in computer and software costs, and a $1.6 million increase in general bad debt expense. General and administrative expenses increased $71.5 million, or 66.5%, for the year ended December 31, 2019 compared to the same period in 2018, due to an increase of $28.7 million in employee-related costs ($12.2 million of which related to stock-based compensation and related payroll taxes), a $14.9 million increase in finance costs, which include an estimated net liability for non-recurring HST payable to the Government of Canada in the amount of $8.1 million related to 2019 and prior years, sales and use and other value added taxes, insurance, and bank fees, a $9.0 million increase in Shopify Payments losses driven by increased GMV processed through Shopify Payments, a $8.6 million increase in losses and insurance related to Shopify Capital driven by an expansion of our Capital offerings and programs, a $6.9 million increase in professional services fees for legal and tax services, including those related to our international expansion and the growth of our business, a $1.8 million increase in computer and software costs, and a $1.6 million increase in general bad debt expense.
General and administrative expenses increased $39.7 million, or 58.7%, for the year ended December 31, 2018 compared to the same period in 2017, due to an increase of $30.3 million in employee-related costs, a $4.5 million increase in professional services fees for legal and tax services, a $4.0 million increase in finance costs, which includes insurance, sales and use and other value added taxes, and a $1.7 million increase in computer and software costs.
Table:
 | Years ended December 31, |  |  | 2019 vs 2018 | 2018 vs 2017
 | 2019 | 2018 | 2017 | % Change | % Change
 | (in thousands, except percentages) |  |  |  | 
General and administrative | $ 178,934 | $ 107,444 | $ 67,719 | 66.5 % | 58.7 %
Percentage of total revenues | 11.3 % | 10.0 % | 10.1 % |  | 


Question: How much is the general and administrative expenses for the 3 financial years shown in the table (in chronological order)?
Answer: $ 67,719, $ 107,444, $ 178,934
NAVIOS MARITIME HOLDINGS INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Expressed in thousands of U.S. dollars — except share data)
Revenue by Geographic Region
Vessels operate on a worldwide basis and are not restricted to specific locations. Accordingly, it is not possible to allocate the assets of these operations to specific countries. The total net book value of long-lived assets for dry bulk vessels amounted to $741,347 and $933,784 at December 31, 2019 and 2018, respectively. For the Logistics Business, all long-lived assets are located in South America. The total net book value of long-lived assets for the Logistics Business amounted to $536,342 (including constructions in progress of $4,046, referred to in Note 7) and $556,713 at December 31, 2019 and 2018, respectively. The total net book value of long-lived assets for the Containers Business amounted to at December 31, 2018 $399,979.
Table:
 | Year ended December 31, 2019 | Year ended December 31, 2018 | Year ended December 31, 2017
North America | $2,259 | $4,248 | $5,513
Europe | 179,009 | 142,688 | 124,857
Asia | 67,468 | 135,614 | 91,552
South America | 232,394 | 208,751 | 212,616
Other | 1,319 | 26,438 | 28,511
Total | $482,449 | $517,739 | $463,049


Question: Which years does the table provide information for revenue by geographic region?
Answer: 2019, 2018, 2017
Research and Development Expense
Research and development expense increased by $19.1 million in 2018 compared to 2017. The increase was primarily due to a $18.1 million increase in employee-related costs, which includes stock-based compensation, associated with our increased headcount from 159 employees as of December 31, 2017 to 229 employees as of December 31, 2018. The remaining increase was principally the result of a $2.9 million increase in hosting and software related cost to support research and development activities and an increase of $0.3 million in software subscription cost which was offset by a $1.0 million decrease in office related expenses to support research and development activities. A total of $7.8 million of internally-developed software costs during 2018 and $6.3 million of internally-developed software costs during 2017 were capitalized, resulting in a decrease of the expense by $1.4 million compared to 2017.
Table:
 | Year Ended December 31, |  | Change | 
 | 2018 | 2017 | $ | %
 |  | (dollars in thousands) |  | 
Research and development | $ 41,305 | $ 22,241 | $ 19,064 | 85.7%
% of revenue | 28% | 21% |  | 


Question: What was the research and development in 2018 and 2017?
Answer: 41,305, 22,241
19. Related Party Transactions
Key management personnel compensation
All directors and executive management have authority and responsibility for planning, directing and controlling the activities of the Group, and are considered to be key management personnel.
Compensation for the Group’s key management personnel is as follows:
Table:
 |  | Fiscal Year Ended June 30, | 
 | 2019 | 2018 | 2017
 |  | (U.S. $ in thousands) | 
Executive management |  |  | 
Short-term compensation and benefits | $3,835 | $2,991 | $2,860
Post-employment benefits | 109 | 99 | 100
Share-based payments | 17,144 | 9,335 | 26,030
 | $21,088 | $12,425 | $28,990
Board of directors |  |  | 
Cash remuneration | $430 | $362 | $388
Share-based payments | 1,772 | 1,577 | 1,825
 | $2,202 | $1,939 | $2,213


Question: In fiscal year ended June 30, 2017, what is the percentage constitution of cash remuneration among the total compensation to the Board of directors?
Answer: 17.53
Calculation: (388/2,213) * 100