hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
5. Goodwill and Purchased Intangible Assets
(b) Purchased Intangible Assets
The following table presents the amortization of purchased intangible assets (in millions):
Table:
Years Ended | July 27, 2019 | July 28, 2018 | July 29, 2017
Amortization of purchased intangible assets: |  |  | 
Cost of sales . | $624 | $640 | $556
Operating expenses |  |  | 
Amortization of purchased intangible assets | 150 | 221 | 259
Restructuring and other charges | — | — | 38
Total  . | $774 | $861 | $853


Question: What was the change in cost of sales between 2017 and 2018?
Answer: 84
Calculation: 640-556
2019 Compared to 2018
Net Sales. Net sales increased 9%, or $651 million, in 2019 compared to 2018. Net sales of products (hardware and software) increased 8% and net sales of services increased 20% in 2019 compared to 2018. Our net sales by operating segment for 2019 and 2018 were as follows (dollars in thousands):
Table:
 | 2019 | 2018 | %Change
NorthAmerica | $6,024,305 | $5,362,981 | 12%
EMEA | 1,526,644 | 1,530,241 | —
APAC | 180,241 | 186,914 | (4%)
Consolidated | $7,731,190 | $7,080,136 | 9%


Question: What is the change in Net sales of North America between 2018 and 2019?
Answer: 661324
Calculation: 6,024,305-5,362,981
28 SHARE BASED COMPENSATION PLANS
The compensation cost recognised with respect to all outstanding plans and by grant of shares, which are all equity settled instruments, is as follows:
(*) includes of 1,305,399 options granted towards Share Plan 2015 during twelve months ended March 31, 2019 at an average exercise price of $14.86 per share and average grant date fair value $2.6 per share.
(**) includes Restricted Share Unit (RSU) and Other share option plans. In respect of 211,567 units/options granted towards RSU during twelve months ended March 31, 2019, grant date fair value approximates intrinsic value $10.48 per share. (**) includes Restricted Share Unit (RSU) and Other share option plans. In respect of 211,567 units/options granted towards RSU during twelve months ended March 31, 2019, grant date fair value approximates intrinsic value $10.48 per share.
(***) includes 1,400,000 shares granted twelve months ended March 31, 2019 to management personnel at grant date fair value $10.08 per share.
Joint Stock Ownership Plan (JSOP)
In April 2012, the Company established a controlled trust called the Eros International Plc Employee Benefit Trust (“JSOP Trust”). The JSOP Trust purchased 2,000,164 shares of the Company out of funds borrowed from the Company and repayable on demand. The Company’s Board, Nomination and Remuneration Committee recommends to the JSOP Trust certain employees, officers and key management personnel, to whom the JSOP Trust will be required to grant shares from its holdings at nominal price. Such shares are then held by the JSOP Trust and the scheme is referred to as the “JSOP Plan.” The shares held by the JSOP Trust are reported as a reduction in stockholders’ equity and termed as ‘JSOP reserves’.
Table:
 |  | Year ended March 31 | 
 | 2019 | 2018 | 2017
 |  | (in thousands) | 
IPO India Plan | $1,198 | $1,572 | $2,140
JSOP Plan | — | 615 | 3,622
Option award scheme 2012 | — | 197 | 699
2014 Share Plan | 47 | (22) | 1,427
2015 Share Plan(*) | 3,059 | 100 | 328
Other share option awards(**) | 5,346 | 7,283 | 4,405
Management scheme (staff share grant) (***) | 11,911 | 8,173 | 10,850
 | $21,561 | $17,918 | $23,471


Question: What is the amount of options granted towards Share Plans in 2019?
Answer: 1,305,399
Basic earnings per share is computed by dividing net income for the period by the weighted-average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net income for the period by the weighted-average number of common shares outstanding during the period, plus the dilutive effect of outstanding restricted stock-based awards, stock options, and shares issuable under the employee stock purchase plan using the treasury stock method. The following table sets forth the computation of basic and diluted earnings per share:
(1) These weighted shares relate to anti-dilutive restricted stock-based awards and stock options as calculated using the treasury stock method and contingently issuable shares under PSO and PSU agreements. Such shares could be dilutive in the future. See Note 13 for information regarding the exercise prices of our outstanding, unexercised stock options.
Table:
Year Ended May 31, |  |  | 
(in millions, except per share data) | 2019 | 2018 | 2017
Net income | $11,083 | $3,587 | $9,452
Weighted average common shares outstanding | 3,634 | 4,121 | 4,115
Dilutive effect of employee stock plans | 98 | 117 | 102
Dilutive weighted average common shares outstanding | 3,732 | 4,238 | 4,217
Basic earnings per share | $3.05 | $0.87 | $2.30
Diluted earnings per share | $2.97 | $0.85 | $2.24
Shares subject to anti-dilutive restricted stock-based awards and stock options excluded from calculation (1) | 71 | 64 | 74


Question: By how much did net income change from 2018 to 2019?
Answer: 7496
Calculation: 11,083-3,587
REMUNERATION COMMITTEE REPORT
The table above shows the actual expenditure of the Group for employee pay and distributions to shareholders compared to the retained earnings of the Group.
Table:
RELATIVE IMPORTANCE OF SPEND ON PAY |  |  | 
Expenditure USDm | 2019 | 2018 | 2017
Dividends paid | - | - | 1.2
Purchase of outstanding treasury shares in TORM A/S | - | - | -
Purchase/disposals of treasury shares | - | - | -
Total | - | - | 1.2
Staff costs | 45.8 | 46.2 | 43.8
Retained earnings | 920.0 | 752.0 | 786.0


Question: What does the information in the table show?
Answer: the actual expenditure of the Group for employee pay and distributions to shareholders compared to the retained earnings of the Group
The Group’s measure of segment profit, adjusted EBITDA, excludes depreciation, amortisation, impairment loss, restructuring costs, loss on disposal of fixed assets, the Group’s share of results in associates and joint ventures and other income and expense. A reconciliation of adjusted EBITDA to operating profit is shown below. For a reconciliation of operating profit to profit for the financial year, see the Consolidated income statement on page 111.
Note: 1 Share of adjusted results in equity accounted associates and joint ventures excludes amortisation of acquired customer bases and brand intangible assets, restructuring costs and other costs of €0.6 billion (2018: €0.4 billion, 2017: €0.1 billion) which are included in amortisation of acquired customer base and brand intangible assets, restructuring costs and other income and expense respectively
2 See note 31 “IAS 18 basis primary statements” for further details.
Table:
 | 2019 €m | 2018 €m | 2017 €m
Adjusted EBITDA | 14,139 | 14,737 | 14,149
Depreciation, amortisation and loss on disposal of fixed assets | (9,665) | (9,910) | (10,179)
Share of adjusted results in equity accounted associates and joint ventures1 | (291) | 389 | 164
Adjusted operating profit | 4,183 | 5,216 | 4,134
Impairment losses | (3,119) | – | –
Restructuring costs | (486) | (156) | (415)
Amortisation of acquired customer based and brand intangible assets | (583) | (974) | (1,046)
Other (expense)/income | (262) | 213 | 1,052
Operating (loss)/profit (IAS 18 basis) | (267) | 4,299 | 3,725
Impact of adoption of IFRS 152 | (684) |  | 
Operating loss (IFRS 15 basis) | (951) |  | 


Question: How much is the average adjusted EBITDA between 2018 and 2019?
Answer: 14438
Calculation: (14,139+14,737)/2
Net Asset Value per share (NAV/share):
TORM believes that the NAV/share is a relevant measure that Management uses to measure the overall development of the assets and liabilities per share. Such measure may not be comparable to similarly titled measures of other companies. NAV/share is calculated using broker values of vessels and excluding charter commitments. NAV/share is calculated as follows:
Table:
USDm | 2019 | 2018 | 2017
Net Asset Value per share |  |  | 
Total vessel values including newbuildings (broker values) | 1,801.5 | 1,675.1 | 1,661.1
Committed CAPEX on newbuildings | -51.2 | -258.0 | -306.9
Cash position | 72.5 | 127.4 | 134.2
Loans receivables | 4.6 | - | -
Bunkers | 34.8 | 39.4 | 33.2
Freight receivables | 89.8 | 86.0 | 71.3
Other receivables | 6.2 | 7.5 | 11.8
Other plant and operating equipment | 4.3 | 3.0 | 1.9
Land and buildings | 8.1 | - | -
Investments in joint ventures | 1.2 | 0.1 | 0.3
Prepayments | 3.5 | 2.9 | 4.4
Borrowings | -863.4 | -754.7 | -753.9
Trade payables | -47.1 | -35.1 | -26.2
Other liabilities | -47.3 | -36.5 | -33.8
Current tax liabilities | -1.5 | -1.0 | -1.4
Total Net Asset Value (NAV) | 1,016.0 | 856.1 | 796.0
Total number of shares excluding treasury shares (million) | 74.4 | 73.9 | 62.0
Total Net Asset Value per share (NAV/share) (USD) | 13.6 | 11.6 | 12.8


Question: What does TORM believe that the NAV/share is a relevant measure for?
Answer: Management uses to measure the overall development of the assets and liabilities per share.
Financials
1. EBITDA is a non-IFRS term, defined as earnings before interest, tax, depreciation and amortisation, and excluding net foreign exchange gains (losses).
2. NPATA is a non-IFRS term, defined as net profit after tax, excluding tax-effected amortisation of acquired intangibles. This is used to determine EPSa as disclosed here and in the audited Remuneration Report.
3. Underlying EBITDA, underlying NPAT and underlying NPATA exclude separately disclosed items, which represent the transaction and other restructuring costs associated with the Sigma acquisition (2018: Enoro acquisition) and the exiting of a premises lease in the Americas. Further details of the separately disclosed items are outlined in Note 4 to the Financial Report.
Operating revenue for FY19 was $231.3 million, $0.5 million up on FY18. With Sigma contributing $5.0 million of revenue in June (the first month since acquisition), revenues for the remainder of Hansen excluding Sigma were $4.5 million lower. This decline was a result of lower non-recurring revenues, due primarily to both lower one-off licence fees and reduced project work following the large body of work completed in the first half of FY18 associated with implementing Power of Choice in Australia. Conversely, recurring revenues grew to represent 63% of total operating revenue.
Underlying EBITDA for the year was $55.8 million, 7.0% down on the $60.0 million in FY18. This resulted in an underlying EBITDA margin decline to 24.1% from 26.0% in FY18. Sigma only contributed a modest $0.1 million of EBITDA in June, which we do not see as representative of the business going forward. Excluding Sigma, the underlying EBITDA margin was 24.6%. This reduced margin was the direct result of the lower non-recurring revenue, as we were able to maintain operating expenses at the same level as FY18, even after the investment in the Vietnam Development Centre.
Table:
A$ Million | FY19 | FY18 | Variance %
Operating revenue | 231.3 | 230.8 | 0.2%
Underlying EBITDA 1, 3 | 55.8 | 60.0 | (7.0%)
Underlying NPAT 3 | 24.0 | 29.5 | (18.7%)
Underlying NPATA 2, 3 | 33.7 | 38.7 | (12.9%)
Basic EPS based on underlying NPATA (cents) 2 | 17.1 | 19.8 | (13.6%)


Question: What was the difference between EBITDA and NPAT for FY18?
Answer: 30.5
Calculation: 60.0 - 29.5
Note 16. Share-Based Compensation
Share-Based Compensation Expense
The following table presents the details of the Company's share-based compensation expense (in millions):
(1) During the year ended March 31, 2019, $17.2 million of share-based compensation expense was capitalized to inventory, and $14.9 million of previously capitalized share-based compensation expense in inventory was sold. During the year ended March 31, 2018, $11.9 million of share-based compensation expense was capitalized to inventory and $13.8 million of previously capitalized share-based compensation expense in inventory that was sold. During the year ended March 31, 2017, $11.3 million of share-based compensation expense was capitalized to inventory. The amount of sharebased compensation included in cost of sales during fiscal 2017 included $14.5 million of previously capitalized sharebased compensation expense in inventory was sold and $4.2 million of share-based compensation expense related to the Company's acquisition of Atmel that was not previously capitalized into inventory.
The amount of unearned share-based compensation currently estimated to be expensed in the remainder of fiscal 2020 through fiscal 2024 related to unvested share-based payment awards at March 31, 2019 is $253.4 million. The weighted average period over which the unearned share-based compensation is expected to be recognized is approximately 1.88 years.
Table:
 |  | Year Ended March 31, | 
 | 2019 | 2018 | 2017
Cost of sales (1) | $14.9 | $13.8 | $18.7
Research and development | 72.0 | 42.5 | 46.8
Selling, general and administrative | 62.3 | 36.9 | 62.6
Special (income) charges and other, net | 17.2 | — | —
Pre-tax effect of share-based compensation | 166.4 | 93.2 | 128.1
Income tax benefit | 35.5 | 28.3 | 44.2
Net income effect of share-based compensation | $130.9 | $64.9 | $83.9


Question: What was the weighted average period over which the unearned share-based compensation is expected to be recognized?
Answer: approximately 1.88 years
ADVANCED ENERGY INDUSTRIES, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (continued) (in thousands, except per share amounts)
Deferred tax assets and liabilities are recognized for the future tax consequences of differences between the carrying amounts of assets and liabilities and their respective tax bases using enacted tax rates in effect for the year in which the differences are expected to be reversed. Significant deferred tax assets and liabilities consist of the following:
Of the $32.7 million and $40.2 million net deferred tax asset at December 31, 2019 and 2018, respectively, $42.7 million and $47.1 million is reflected as a net non-current deferred tax asset and $10.0 million and $7.0 million is reflected as a long-term liability at December 31, 2019 and 2018, respectively.
As of December 31, 2019, the Company has recorded a valuation allowance on $16.0 million of its U.S. domestic deferred tax assets, largely attributable to acquired federal capital loss carryforwards for which the Company does not have sufficient income in the character to realize that attribute, and state carryforward attributes that are expected to expire before sufficient income can be realized in those jurisdictions. The remaining valuation allowance on deferred tax assets approximates $60.2 million and is associated primarily with operations in Austria, Germany, Hong Kong and Switzerland. As of December 31, 2019, there is not sufficient positive evidence to conclude that such deferred tax assets, presently reduced by a valuation allowance, will be recognized. The December 31, 2019 valuation allowance balance reflects an increase of $45.3 million during the year. The change in the valuation allowance is primarily due to increases from acquired Artesyn positions and current year activity, partially offset by decreases due to foreign exchange movements
Table:
 | Years Ended December 31, | 
 | 2019 | 2018
Deferred tax assets |  | 
Stock based compensation | $1,757 | $1,337
Net operating loss and tax credit carryforwards | 86,879 | 38,622
Interest expense limitation | 7,620 | —
Pension obligation | 13,473 | 3,302
Excess and obsolete inventory | 3,217 | 2,161
Deferred revenue | 3,305 | 6,903
Employee bonuses and commissions | 2,537 | 1,874
Depreciation and amortization | 29,015 | 29,525
Operating lease liabilities | 23,451 | —
Other | 9,685 | 9,961
Deferred tax assets | 180,939 | 93,685
Less: Valuation allowance | (76,206) | (30,924)
Net deferred tax assets | 104,733 | 62,761
Deferred tax liabilities |  | 
Depreciation and amortization | 41,549 | 17,723
Unremitted earnings | 4,740 | 3,529
Operating lease right-of-use assets | 22,774 | —
Other | 2,966 | 1,267
Deferred tax liabilities | 72,029 | 22,519
Net deferred tax assets | $32,704 | $40,242


Question: What was the stock based compensation in 2019?
Answer: $1,757
11 Intangible assets (continued)
(a) Intangible assets
RIGHTS AND LICENCES
Certain licences that NEXTDC possesses have an indefinite useful life and are carried at cost less impairment losses and are subject to impairment review at least annually and whenever there is an indication that it may be impaired.
Other licences that NEXTDC acquires are carried at cost less accumulated amortisation and accumulated impairment losses. Amortisation is recognised on a straight-line basis over the estimated useful life. The estimated useful life and amortisation method are reviewed at the end of each annual reporting period.
INTERNALLY GENERATED SOFTWARE
Internally developed software is capitalised at cost less accumulated amortisation. Amortisation is calculated using the straight-line basis over the asset’s useful economic life which is generally two to three years. Their useful lives and potential impairment are reviewed at the end of each financial year.
SOFTWARE UNDER DEVELOPMENT
Costs incurred in developing products or systems and costs incurred in acquiring software and licenses that will contribute to future period financial benefits through revenue generation and/or cost reduction are capitalised to software and systems. Costs capitalised include external direct costs of materials and services and employee costs.
Assets in the course of construction include only those costs directly attributable to the development phase and are only recognised following completion of technical feasibility and where the Group has an intention and ability to use the asset.
Table:
 | Rights and licenses | Internally generated software | Software under development | Total
Movements | $'000 | $'000 | $'000 | $'000
At 30 June 2019 |  |  |  | 
Cost | 13 | 12,961 | 16,284 | 29,259
Accumulated amortisation | - | (5,580) | - | (5,580)
Netbook amount | 13 | 7,381 | 16,284 | 23,678
30 June 2018 |  |  |  | 
Opening net book amount at 1 July 2017 | 43 | 442 | 8,053 | 8,538
Additions – externally acquired | 13 | - | 5,253 | 5,266
Additions – internally developed | - | - | 1,256 | 1,256
Amortisation | (43) | (1,746) | - | (1,789)
Transfers | - | 7,563 | (7,563) | -
Transfer between classes | - | 744 | - | 744
Disposals | - | (618) | (490) | (1,108)
Closing net book amount | 13 | 6,385 | 6,509 | 12,907
At 30 June 2018 |  |  |  | 
Cost | 104 | 9,555 | 6,509 | 16,168
Accumulated amortisation | (91) | (3,170) | - | (3,261)
Net book amount | 13 | 6,385 | 6,509 | 12,907


Question: What was the percentage change in cost of software under development between 2018 and 2019?
Answer: 150.18
Calculation: (16,284 - 6,509) / 6,509
A reconciliation of income tax expense provided at the federal statutory rate (21% in fiscal year 2019, 28.27% in fiscal year 2018, and 35% in fiscal year 2017) to actual income tax expense is as follows:
In July 2015, the U.S. Tax Court issued an opinion favorable to Altera with respect to Altera’s litigation with the IRS. The litigation related to the treatment of stock-based compensation expense in an intercompany cost-sharing arrangement with Altera’s foreign subsidiary. In its opinion, the U.S. Tax Court accepted Altera’s position of excluding stock-based compensation from its intercompany cost-sharing arrangement. In June 2019, the Ninth Circuit, through a three-judge panel, reversed the 2015 decision of the U.S. Tax Court. Altera has petitioned the Ninth Circuit for an en banc rehearing of a larger panel of eleven Ninth Circuit judges. The Company will continue to monitor and evaluate the potential impact of this litigation on its fiscal year 2020 Consolidated Financial Statements. The estimated potential impact is in the range of $75 million, which may result in a decrease in deferred tax assets and an increase in tax expense.
Effective from fiscal year 2014 through 2017, the Company had a tax ruling in Switzerland for one of its foreign subsidiaries. The impact of the tax ruling decreased taxes by approximately $6.3 million for fiscal year 2017. The benefit of the tax ruling on diluted earnings per share was approximately $0.03 in fiscal year 2017. Effective fiscal year 2018, the Company has withdrawn its reduced tax rate ruling in Switzerland for this subsidiary due to the ruling being no longer necessary as the subsidiary meets the requirements to achieve the reduced tax rate under Swiss tax law.
Earnings of the Company’s foreign subsidiaries included in consolidated retained earnings that are indefinitely reinvested in foreign operations aggregated to approximately $458.4 million at June 30, 2019. If these earnings were remitted to the United States, they would be subject to foreign withholding taxes of approximately $73.1 million at current statutory rates.
Table:
 |  | Year Ended | 
 | June 30, 2019 | June 24, 2018 | June 25, 2017
 |  | (in thousands) | 
Income tax expense computed at federal statutory rate | $513,780 | $891,011 | $634,086
State income taxes, net of federal tax benefit | (17,565) | (50,585) | (11,973)
Foreign income taxed at different rates | (260,344) | (939,808) | (352,860)
Settlements and reductions in uncertain tax positions | (31,291) | (33,367) | (144,519)
Tax credits | (71,779) | (69,301) | (37,713)
State valuation allowance, net of federal tax benefit | 26,742 | 57,302 | 12,070
Equity-based compensation | (7,566) | (35,875) | 13,187
Other permanent differences and miscellaneous items | 39,251 | 43,214 | 1,632
U.S. tax reform impacts | 63,913 | 908,517 | —
 | $255,141 | $771,108 | $113,910


Question: What is the amount of foreign withholding taxes at current statutory rates?
Answer: $73.1 million
shareholder return performance presentation the graph presented below compares the cumulative total shareholder return on state street's common stock to the cumulative total return of the s&p 500 index , the s&p financial index and the kbw bank index over a five- year period . the cumulative total shareholder return assumes the investment of $ 100 in state street common stock and in each index on december 31 , 2008 at the closing price on the last trading day of 2008 , and also assumes reinvestment of common stock dividends . the s&p financial index is a publicly available measure of 81 of the standard & poor's 500 companies , representing 17 diversified financial services companies , 22 insurance companies , 19 real estate companies and 23 banking companies . the kbw bank index seeks to reflect the performance of banks and thrifts that are publicly traded in the u.s. , and is composed of 24 leading national money center and regional banks and thrifts. .

Table:
 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013
state street corporation | $ 100 | $ 111 | $ 118 | $ 105 | $ 125 | $ 198
s&p 500 index | 100 | 126 | 146 | 149 | 172 | 228
s&p financial index | 100 | 117 | 132 | 109 | 141 | 191
kbw bank index | 100 | 98 | 121 | 93 | 122 | 168
.

Question: what percent increase would shareholders receive between 2008 and 2013?
Answer: 98%
Calculation: subtract(198, 100), divide(#0, 100)
The impact of product mix within our TS segment on gross margins for the fiscal years ended September 30 was as follows:
The overall TS segment gross margin as a percentage of sales remained the same in fiscal year 2019 when compared to fiscal year 2018. The $0.6 million increase in our TS segment product gross margins resulted from an increase in product revenues in the U.S. division, partially offset by a decrease in the U.K division. The $1.1 million.increase in the TS segment service gross margins primarily resulted from increased service revenues in the U.S. division.
Table:
 |  |  | 2018 |  | Increase | 
 | GM$ | GM% | GM$ | GM% | GM$ | GM%
 |  |  | (Dollar amount in thousands) |  |  | 
Products | $7,462 | 13% | $6,886 | 13% | $576 | -%
Services | 6,427 | 56% | 5,376 | 55% | 1,051 | 1
Total | $13,889 | 20% | $12,262 | 20% | 1,627 | -%


Question: What is the company's total revenue in 2019?
Answer: 69445
Calculation: $13,889/20%