hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
Financial risk management
The Group’s treasury function centrally manages the Group’s funding requirement, net foreign exchange exposure, interest rate management exposures and counterparty risk arising from investments and derivatives.
Treasury operations are conducted within a framework of policies and guidelines authorised and reviewed by the Board, most recently in July 2018
A treasury risk committee comprising of the Group’s Chief Financial Officer, Group General Counsel and Company Secretary, Group Financial Controller, Group Treasury Director and Group Director of Financial Controlling and Operations meets three times a year to review treasury activities and its members receive management information relating to treasury activities on a quarterly basis. The Group’s accounting function, which does not report to the Group Treasury Director, provides regular update reports of treasury activity to the Board. The Group’s internal auditor reviews the internal control environment regularly.
The Group uses a number of derivative instruments for currency and interest rate risk management purposes only that are transacted by specialist treasury personnel. The Group mitigates banking sector credit risk by the use of collateral support agreements.
Credit risk
Credit risk is the risk that a counterparty will not meet its obligations under a financial asset leading to a financial loss for the Group. The Group is exposed to credit risk from its operating activities and from its financing activities, the Group considers its maximum exposure to credit risk at 31 March to be:
Expected credit loss
The Group has financial assets classified and measured at amortised cost and fair value through other comprehensive income that are subject to the expected credit loss model requirements of IFRS 9. Cash at bank and in hand and certain other investments are both classified and measured at amortised cost and subject to these impairment requirements. However, the identified expected credit loss is considered to be immaterial.
Information about expected credit losses for trade receivables and contract assets can be found under “operating activities” on page 164.
Table:
 | 2019 €m | 2018 €m
Cash at bank and in hand | 2,434 | 2,197
Repurchase agreements and bank deposits | 2,196 | –
Money market funds | 9,007 | 2,477
Managed investment funds | 6,405 | 3,891
Government securities | 3,011 | 1,974
Other investments | 4,418 | 6,087
Derivative financial instruments | 3,634 | 2,629
Trade receivables | 5,077 | 5,402
Contract assets and other receivables | 5,155 | 3,410
 | 41,337 | 28,067


Question: Between 2018 and 2019, which year had a greater amount of managed investment funds?
Answer: 2019
Calculation: 6,405>3,891
Revenue by Market The table below presents disaggregated net revenues by market (in thousands):
(1) Due to the adoption of ASC 606 on January 1, 2018 using the modified retrospective method, amounts prior to 2018 have not been adjusted to reflect the change to recognize certain distributor sales upon sale to the distributor, or the sell-in method, from recognition upon the Company's sale to the distributors' end customers, or the sellthrough method, which required the deferral of revenue and profit on such distributor sales.
Revenues from sales to the Company’s distributors accounted for 52%, 42% and 34% of net revenue for the years ended December 31, 2019, 2018 and 2017, respectively.
Table:
 |  | Year Ended December 31, | 
 | 2019 | 2018 | 2017(1)
Connected home | $152,674 | $207,336 | $288,610
% of net revenue | 48% | 54% | 69%
Infrastructure | 85,369 | 82,388 | 71,779
% of net revenue | 27% | 21% | 17%
Industrial and multi-market | 79,137 | 95,273 | 59,929
% of net revenue | 25% | 25% | 14%
Total net revenue | $317,180 | $384,997 | $420,318


Question: What was the change in Connected home from 2018 to 2019?
Answer: -54662
Calculation: 152,674 - 207,336
Summarized financial information of Hilli LLC
The most significant impacts of Hilli LLC VIE's operations on our consolidated statements of income and consolidated statements of cash flows, as of December 31, 2019 and 2018, are as follows:
Table:
(in thousands of $) | 2019 | 2018
Statement of income |  | 
Liquefaction services revenue | 218,096 | 127,625
Realized and unrealized (losses)/gains on the oil derivative instrument | (26,001) | 16,767
Statement of cash flows |  | 
Net debt repayments | (243,513) | (30,300)
Net debt receipts | 129,454 | —


Question: What was the net debt receipts in 2019?
Answer: 129,454
15 . leases in january 1996 , the company entered into a lease agreement with an unrelated third party for a new corporate office facility , which the company occupied in february 1997 . in may 2004 , the company entered into the first amendment to this lease agreement , effective january 1 , 2004 . the lease was extended from an original period of 10 years , with an option for five additional years , to a period of 18 years from the inception date , with an option for five additional years . the company incurred lease rental expense related to this facility of $ 1.3 million in 2008 , 2007 and 2006 . the future minimum lease payments are $ 1.4 million per annum from january 1 , 2009 to december 31 , 2014 . the future minimum lease payments from january 1 , 2015 through december 31 , 2019 will be determined based on prevailing market rental rates at the time of the extension , if elected . the amended lease also provided for the lessor to reimburse the company for up to $ 550000 in building refurbishments completed through march 31 , 2006 . these amounts have been recorded as a reduction of lease expense over the remaining term of the lease . the company has also entered into various noncancellable operating leases for equipment and office space . office space lease expense totaled $ 9.3 million , $ 6.3 million and $ 4.7 million for the years ended december 31 , 2008 , 2007 and 2006 , respectively . future minimum lease payments under noncancellable operating leases for office space in effect at december 31 , 2008 are $ 8.8 million in 2009 , $ 6.6 million in 2010 , $ 3.0 million in 2011 , $ 1.8 million in 2012 and $ 1.1 million in 2013 . 16 . royalty agreements the company has entered into various renewable , nonexclusive license agreements under which the company has been granted access to the licensor 2019s technology and the right to sell the technology in the company 2019s product line . royalties are payable to developers of the software at various rates and amounts , which generally are based upon unit sales or revenue . royalty fees are reported in cost of goods sold and were $ 6.3 million , $ 5.2 million and $ 3.9 million for the years ended december 31 , 2008 , 2007 and 2006 , respectively . 17 . geographic information revenue to external customers is attributed to individual countries based upon the location of the customer . revenue by geographic area is as follows: .

Table:
( in thousands ) | year ended december 31 , 2008 | year ended december 31 , 2007 | year ended december 31 , 2006
united states | $ 151688 | $ 131777 | $ 94282
germany | 68390 | 50973 | 34567
japan | 66960 | 50896 | 35391
canada | 8033 | 4809 | 4255
other european | 127246 | 108971 | 70184
other international | 56022 | 37914 | 24961
total revenue | $ 478339 | $ 385340 | $ 263640
.

Question: what was the average future minimum lease payments under noncancellable operating leases for office space from 2009 to 2013 in millions .
Answer: 5.325
Calculation: add(8.8, 6.6), add(#0, 3.0), add(#1, 1.8), add(#2, 1.1), divide(#3, const_4)
NOTE 14 – MAJOR CUSTOMERS AND VENDORS (CONTINUED)
Our accounts receivable includes 3 customers that individually make up more than 10% of our accounts receivable at December 31, 2019 in the percentages of 17.8%, 15.4% and 13.3%.
The Company had four key partners through which 10% or greater of its revenue was generated in either 2019 or 2018 as set forth below. The amounts in the table below reflect the amount of revenue generated through those customers.
Table:
 | 2019 |  | 2018 | 
 | $ | %   | $ | % 
Partner A   | 1,315,706 | 5.3 | 6,841,386 | 32.3
Partner B   | 9,210,347 | 37.4 | 5,350,393 | 25.2
Partner C   | 4,051,217 | 16.5 | 2,584,103 | 12.2
Partner D   | 1,007,573 | 4.1 | 2,159,356 | 10.2


Question: Which partner contributed the highest revenue to the Company in 2018?
Answer: Partner A
Calculation: 6,841,386>5,350,393>2,584,103>2,159,356
Note 15—Segments and Geographic Information
We operate in two reportable segments consisting of the Probe Cards Segment and the Systems Segment. Our chief operating decision maker ("CODM") is our Chief Executive Officer, who reviews operating results to make decisions about allocating resources and assessing performance for the entire company. The following table summarizes the operating results by reportable segment (dollars in thousands):
Operating results provide useful information to our management for assessment of our performance and results of operations. Certain components of our operating results are utilized to determine executive compensation along with other measures.
Corporate and Other includes unallocated expenses relating to amortization of intangible assets, share-based compensation expense, acquisition-related costs, including charges related to inventory stepped up to fair value, and other costs, which are not used in evaluating the results of, or in allocating resources to, our reportable segments. Acquisition-related costs include transaction costs and any costs directly related to the acquisition and integration of acquired businesses.
Table:
 |  |  | Fiscal 2019 | 
 | Probe Cards | Systems | Corporate and Other | Total
Revenues | $491,363 | $98,101 | $— | $589,464
Gross profit | $211,382 | $50,927 | $(24,813) | $237,496
Gross margin | 43.0 % | 51.9 % | — % | 40.3 %
 |  |  | Fiscal 2018 | 
 | Probe Cards | Systems | Corporate and Other | Total
Revenues | $434,269 | $95,406 | $— | $529,675
Gross profit | $187,320 | $47,074 | $(24,055) | $210,339
Gross margin | 43.1 % | 49.3 % | — % | 39.7 %
 |  |  | Fiscal 2017 | 
 | Probe Cards | Systems | Corporate and Other | Total
Revenues | $454,794 | $93,647 | $— | $548,441
Gross profit | $195,903 | $46,647 | $(26,953) | $215,597
Gross margin | 43.1 % | 49.8% | — % | 39.3 %


Question: What are the different streams of revenue?
Answer: Probe Cards, Systems, Corporate and Other
Equity, liabilities and net debt in the consolidated financial statements
Equity amounts to €2,735 million (30/9/2018: €3,074 million), while liabilities amounts to €11,762 million (30/9/2018: €12,132 million). Net debt related to continuing operations decreased by €0.2 billion in the adjusted year-on-year comparison and amounted to €2.9 billion as of 30 September 2019 (30/09/2018: €3.1 billion).
1 Adjustment of previous year according to explanation in notes
2 Shown in the balance sheet under other financial assets (current).
3 Adjusted for the effects of discontinued operations.
Table:
€ million | 30/9/2018 1 | 30/9/2018 adjusted3 | 30/9/2019
Equity | 3,074 | 3,074 | 2,735
Liabilities | 12,132 | 12,132 | 11,762
Net debt | 2,710 | 3,102 | 2,858
Financial liabilities (incl. finance leases) | 4,010 | 4,010 | 3,369
Cash and cash equivalents | 1,298 | 906 | 500
Short-term financial investments2 | 2 | 2 | 11


Question: What was the amount of liabilities in FY2019?
Answer: €11,762 million
Movements in total self‐insured risks, restructuring, onerous contracts, store exit costs, and other provisions
(1) The increase in restructuring, onerous contracts, and store exit costs in 2019 is primarily attributable to the recognition of provisions associated with the BIG W network review as outlined in Note 1.4.
A provision is recognised when the Group has a present legal or constructive obligation as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation, and a reliable estimate can be made as to the amount of the obligation. The amount recognised is the best estimate of the consideration required to settle the present obligation at the reporting date, taking into account the risks and uncertainties surrounding the obligation.
A liability is recognised for benefits accruing to employees in respect of annual leave and long service leave.
Liabilities expected to be settled within 12 months are measured at their nominal values using the remuneration rate expected to apply at the time of settlement.
Liabilities which are not expected to be settled within 12 months are measured as the present value of the estimated future cash outflows to be made by the Group in respect of services provided by employees up to the reporting date.
The provision for self-insured risks primarily represents the estimated liability for workers’ compensation and public liability claims.
Provision for restructuring is recognised when the Group has developed a detailed formal plan for the restructuring and has raised a valid expectation in those affected by the restructuring that the restructuring will occur.
An onerous contract is a contract in which the unavoidable costs of meeting the obligations under the contract exceed the economic benefits expected to be received under it. The unavoidable costs under a contract reflect the least net cost of exiting from the contract, which is the lower of the cost of fulfilling it and any compensation or penalties arising from failure to fulfil it.
Table:
 |  |  | RESTRUCTURING, ONEROUS | 
 |  |  | CONTRACTS, STORE EXIT COSTS, | 
 | SELF‑INSURED RISKS |  | AND OTHER | 
 | 2019 | 2018 | 2019 | 2018
 | $M | $M | $M | $M
Movement: |  |  |  | 
Balance at start of period | 596 | 593 | 679 | 800
Net provisions recognised/(reversed) (1) | 177 | 161 | 225 | 55
Cash payments | (157) | (148) | (162) | (178)
Other | (13) | (10) | (5) | 2
Balance at end of period | 603 | 596 | 737 | 679
Current | 173 | 177 | 280 | 256
Non‑current | 430 | 419 | 457 | 423
 | 603 | 596 | 737 | 679


Question: What is the units used in the table?
Answer: $M
Sales and Marketing Expense
Sales and marketing expense increased by $22.6 million in 2018 compared to 2017. The increase was primarily due to a $20.0 million increase in employee- related costs, which includes stock-based compensation, associated with our increased headcount from 215 employees as of December 31, 2017 to 286 employees as of December 31, 2018. The remaining increase was principally the result of a $1.8 million increase in trade show and advertising costs and a $0.8 million increase attributed to office related expenses to support the sales team. The adoption of ASC 606 did not have a material impact on the change in commission expense when compared to year over year.
Table:
 | Year Ended December 31, |  | Change | 
 | 2018 | 2017 | $ | %
 |  | (dollars in thousands) |  | 
Sales and marketing | $ 69,608 | $ 46,998 | $ 22,610 | 48.1%
% of revenue | 47% | 45% |  | 


Question: What is the % change in the sales and marketing expense between 2017 and 2018?
Answer: 48.1
NOTE 13—INCOME TAXES
On December 22, 2017, the U.S. government enacted the Tax Act, which includes provisions for Global Intangible Low-Tax Income (GILTI) under which taxes on foreign income are imposed on the excess of a deemed return on tangible assets of foreign subsidiaries. Consistent with accounting guidance, we have elected to account for the tax on GILTI as a period cost and thus have not adjusted any net deferred tax assets of our foreign subsidiaries in connection with the Tax Act.
Due to the complexity of the Tax Act, the Securities and Exchange Commission issued guidance in SAB 118 which clarified the accounting for income taxes under ASC 740 if certain information was not yet available, prepared or analyzed in reasonable detail to complete the accounting for income tax effects of the Tax Act. SAB 118 provided for a measurement period of up to one year after the enactment of the Tax Act, during which time the required analyses and accounting must be completed. During fiscal year 2018, we recorded provisional amounts for the income tax effects of the changes in tax law and tax rates, as reasonable estimates were determined by management during this period. These amounts did not change in fiscal year 2019.
The SAB 118 measurement period ended on December 22, 2018. Although we no longer consider these amounts to be provisional, the determination of the Tax Act’s income tax effects may change following future legislation or further interpretation of the Tax Act based on the publication of recently proposed U.S. Treasury regulations and guidance from the Internal Revenue Service and state tax authorities.
Income (loss) from continuing operations before income taxes includes the following components (in thousands):
Table:
 |  | Years Ended September 30, | 
 | 2019 | 2018 | 2017
 |  | (in thousands) | 
United States | $ (535) | $ (51,049) | $ (70,566)
Foreign | 52,881 | 65,935 | 59,484
Total | $ 52,346 | $ 14,886 | $ (11,082)


Question: How may the determination of the Tax Act's income tax effects change?
Answer: following future legislation or further interpretation of the Tax Act based on the publication of recently proposed U.S. Treasury regulations and guidance from the Internal Revenue Service and state tax authorities
12. Information about Segments of Geographic Areas
The Company operates in one segment, the development and marketing of network infrastructure equipment. Revenue is attributed to a geographical area based on the location of the customers. The Company operates in three geographic theaters: Americas, which includes the United States, Canada, Mexico, Central America and South America; EMEA, which includes Europe, Russia, Middle East and Africa; and APAC which includes Asia Pacific, China, South Asia and Japan. The Company’s chief operating decision maker (“CODM”), who is its CEO, reviews financial information presented on a consolidated basis for purposes of allocating resources and evaluating financial performance.
See Note 3. Revenues for the Company’s revenues by geographic regions and channel based on the customers’ ship-to location.
The Company’s long-lived assets are attributed to the geographic regions as follows (in thousands):
Table:
Long-lived Assets  | June 30,
2019 | June 30,
2018
Americas  | $136,035 | $178,251
EMEA   | 28,744 | 15,106
APAC   | 11,529 | 9,896
Total long-lived assets | $176,308 | $203,253


Question: What was the change in the long-lived assets from APAC between 2018 and 2019?
Answer: 1633
Calculation: 11,529-9,896
15. AVERAGE SHARES OUTSTANDING
Our basic earnings per share calculation is computed based on the weighted-average number of common shares outstanding. Our diluted earnings per share calculation is computed based on the weighted-average number of common shares outstanding adjusted by the number of additional shares that would have been outstanding had the potentially dilutive common shares been issued. Potentially dilutive common shares include nonvested stock awards and units, stock options, and non-management director stock equivalents. Performance share awards are included in the average diluted shares outstanding each period if the performance criteria have been met at the end of the respective periods.
The following table reconciles basic weighted-average shares outstanding to diluted weighted-average shares outstanding in each fiscal year (in thousands):
Table:
 | 2019 | 2018 | 2017
Weighted-average shares outstanding — basic | 25,823 | 28,499 | 30,630
Effect of potentially dilutive securities: |  |  | 
Nonvested stock awards and units | 211 | 240 | 182
Stock options | 10 | 40 | 59
Performance share awards | 24 | 28 | 43
Weighted-average shares outstanding — diluted | 26,068 | 28,807 | 30,914
Excluded from diluted weighted-average shares outstanding: |  |  | 
Antidilutive | 186 | 150 | 76
Performance conditions not satisfied at the end of the period | 65 | 44 | 53


Question: How is the basic earnings per share calculation computed?
Answer: Based on the weighted-average number of common shares outstanding
Note 10. Prepaid Expenses
Prepaid expenses consisted of the following (in thousands):
Table:
 | December 31, | 
 | 2019 | 2018
Prepaid maintenance | $6,218 | $5,888
Prepaid insurance | 5,321 | 4,500
Prepaid software | 4,236 | 3,499
Prepaid rent | 421 | 3,471
Prepaid other | 4,672 | 6,396
 | $20,868 | $23,754


Question: What was the percentage change in prepaid insurance in 2019 from 2018?
Answer: 18.24
Calculation: (5,321-4,500)/4,500
22 2016 annual report performance graph the following chart presents a comparison for the five-year period ended june 30 , 2016 , of the market performance of the company 2019s common stock with the s&p 500 index and an index of peer companies selected by the company : comparison of 5 year cumulative total return among jack henry & associates , inc. , the s&p 500 index , and a peer group the following information depicts a line graph with the following values: .

Table:
 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016
jkhy | 100.00 | 116.62 | 161.33 | 206.53 | 228.24 | 312.11
peer group | 100.00 | 107.65 | 126.89 | 174.28 | 219.46 | 251.24
s&p 500 | 100.00 | 105.45 | 127.17 | 158.46 | 170.22 | 177.02
this comparison assumes $ 100 was invested on june 30 , 2011 , and assumes reinvestments of dividends .
total returns are calculated according to market capitalization of peer group members at the beginning of each period .
peer companies selected are in the business of providing specialized computer software , hardware and related services to financial institutions and other businesses .
companies in the peer group are aci worldwide , inc. , bottomline technology , inc. , broadridge financial solutions , cardtronics , inc. , convergys corp. , corelogic , inc. , dst systems , inc. , euronet worldwide , inc. , fair isaac corp. , fidelity national information services , inc. , fiserv , inc. , global payments , inc. , moneygram international , inc. , ss&c technologies holdings , inc. , total systems services , inc. , tyler technologies , inc. , verifone systems , inc. , and wex , inc. .
heartland payment systems , inc .
was removed from the peer group as it merged with global payments , inc .
in april 2016. .

Question: what was the total amount of returns that jkhy , peer group and s&p 500 had made combined by june 30 , 2012?
Answer: 29.72
Calculation: subtract(116.62, 100), subtract(107.65, 100), subtract(105.45, 100), add(#0, #1), add(#2, #3)
The Company utilized the Black-Scholes option pricing model to value the stock options. The Company used an expected life as defined under the simplified method, which is using an average of the contractual term and vesting period of the stock options. The risk-free interest rate used for the award is based on the U.S. Treasury yield curve in effect at the time of grant. The Company accounted for forfeitures as they occur. The historical volatility was calculated based upon implied volatility of the Company's historical stock prices.
The fair value of 2019 and 2018 stock options was estimated using the Black-Scholes option pricing model with the following weighted-average assumptions:
As of December 31, 2019, there was approximately $419,000 of unrecognized stock-based compensation expense related to outstanding 2019 stock options, expected to be recognized over 3.4 and approximately $418,000 of unrecognized stock-based compensation expense related to outstanding 2018 stock options, expected to be recognized over 2.4 years. There was no unrecognized stock-based compensation expense relating stock options granted prior to 2018.
Table:
 | 2019 | 2018
Weighted-average fair value of options granted per share | $8.78 | $6.63
Historical volatility | 60% | 46%
Risk-free interest rate | 2.10% | 2.84%
Dividend yield | — | —
Expected life in years | 3.6 | 5.7


Question: What is the risk-free interest rate used in 2019 and 2018 respectively?
Answer: 2.10%, 2.84%