hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
GreenSky, Inc. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued) (United States Dollars in thousands, except per share data, unless otherwise stated)
Cash and Cash Equivalents
Cash includes non-interest and interest-bearing demand deposit accounts with various financial institutions. Cash equivalents include money market mutual fund accounts, which are invested in government securities. We consider all highly liquid investments that mature three months or less from the date of purchase to be cash equivalents. The carrying amounts of our cash equivalents approximate their fair values due to their short maturities and highly liquid nature. Refer to Note 3 for additional information.
At times, our cash balances may exceed federally insured amounts and potentially subject the Company to a concentration of credit risk. The Company believes that no significant concentration of credit risk exists with respect to these balances based on its assessment of the creditworthiness and financial viability of these financial institutions. Further, our cash equivalents may expose us to credit risk; however, we believe this risk is limited, as the investments are backed by the full faith and credit of the United States government.
Restricted Cash
Restricted cash primarily consists of interest-bearing escrow accounts that are required under the terms of the contracts with our Bank Partners. Restricted cash is typically comprised of three components: (i) amounts we have escrowed with Bank Partners as limited protection to the Bank Partners in the event of excess Bank Partner portfolio credit losses; (ii) additional amounts we maintain for certain Bank Partners based on a contractual percentage of the total interest billed on outstanding deferred interest loans that are within the promotional period less previous finance charge reversal ("FCR") settlements on such outstanding loans; and (iii) certain custodial intransit loan funding and consumer borrower payments that we are restricted from using for our operations. These custodial balances are not considered in our evaluation of restricted cash usage. As it relates to our restricted cash escrowed with Bank Partners, we record a liability for the amount of restricted cash we expect to be payable to our Bank Partners, which is accounted for as a financial guarantee. Refer to Note 14 for additional information.
The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the Consolidated Balance Sheets to the total included within the Consolidated Statements of Cash Flows as of the dates indicated.
Table:
 |  | December 31, | 
 | 2019 | 2018 | 2017
Cash and cash equivalents | $195,760 | $303,390 | $224,614
Restricted cash | 250,081 | 155,109 | 129,224
Cash and cash equivalents and restricted cash in Consolidated Statements of Cash Flows | $445,841 | $458,499 | $353,838


Question: What was the amount of restricted cash in 2017?
Answer: 129,224
Note 13 – Income Taxes
A summary of the components of the expense (benefit) for income taxes for the years ended December 31, 2019, 2018 and 2017 is as follows:
Table:
(In thousands) | 2019 | 2018 | 2017
Current |  |  | 
Federal | $(518) | $(8,001) | $466
State | (1,065) | (476) | (150)
International | (282) | 11,705 | 6,458
Total Current | (1,865) | 3,228 | 6,774
Deferred |  |  | 
Federal | 24,801 | (14,448) | 8,024
State | 5,815 | (3,390) | 1,882
International | (546) | 581 | 4,167
Total Deferred | 30,070 | (17,257) | 14,073
Total Income Tax Expense (Benefit) | $28,205 | $(14,029) | $20,847


Question: What is the expense (benefit) for current International component?
Answer: (282)
RSUs
The Company’s RSUs include time-based RSUs, RSUs with performance conditions (“PSUs”), RSUs with market conditions (“MSUs”), and RSUs with both market and performance conditions (“MPSUs”). Vesting of awards with performance conditions or market conditions is subject to the achievement of pre-determined performance goals and the approval of such achievement by the Compensation Committee of the Board of Directors (the “Compensation Committee”). All awards include service conditions which require continued employment with the Company.
A summary of RSU activity is presented in the table below (in thousands, except per-share amounts):
(1) Amount reflects the number of awards that may ultimately be earned based on management’s probability assessment of the achievement of performance conditions at each reporting period.
The intrinsic value related to vested RSUs was $138.3 million, $90.0 million and $74.0 million for the years ended December 31, 2019, 2018 and 2017, respectively. As of December 31, 2019, the total intrinsic value of all outstanding RSUs was $679.5 million, based on the closing stock price of $178.02. As of December 31, 2019, unamortized compensation expense related to all outstanding RSUs was $100.1 million with a weighted-average remaining recognition period of approximately three years.
Cash proceeds from vested PSUs with a purchase price totaled $16.6 million and $10.6 million for the years ended December 31, 2019 and 2018, respectively. There were no proceeds for the year ended December 31, 2017.
Table:
 | Time-Based RSUs |  | PSUs and MPSUs |  | MSUs |  | Total | 
 | Number of Shares | Weighted- Average Grant Date Fair Value Per Share | Number of Shares | Weighted- Average Grant Date Fair Value Per Share | Number of Shares | Weighted- Average Grant Date Fair Value Per Share | Number of Shares | Weighted- Average Grant Date Fair Value Per Share
Outstanding at January 1, 2017 | 366 | $51.35 | 2,284 | $43.24 | 1,620 | $23.57 | 4,270 | $36.47
Granted | 81 | $94.25 | 585(1) | $62.72 | - | $- | 666 | $66.56
Vested | (175) | $48.35 | (597) | $41.94 | - | $- | (772) | $43.39
Forfeited | (14) | $61.8 | (6) | $49.82 | - | $- | (20) | $58.46
Outstanding at December 31, 2017 | 258 | $66.3 | 2,266 | $48.59 | 1,620 | $23.57 | 4,144 | $39.91
Granted | 133 | $114.36 | 630(1) | $85.06 | 600 | $68.48 | 1,363 | $80.62
Vested | (136) | $60.23 | (717) | $41.08 | - | $- | (853) | $44.13
Forfeited | (15) | $82.2 | (5) | $63.16 | (1) | $68.48 | (21) | $76.92
Outstanding at December 31, 2018 | 240 | $95.38 | 2,174 | $61.61 | 2,219 | $35.69 | 4,633 | $50.94
Granted | 52 | $142.32 | 512(1) | $99.88 | - | $- | 564 | $103.68
Vested | (103) | $81.53 | (656) | $53.72 | (324) | $23.57 | (1,083) | $47.34
Forfeited | (9) | $117.31 | (43) | $42.72 | (9) | $68.48 | (61) | $57.01
Outstanding at December 31, 2019 | 180 | $115.45 | 1,987 | $74.50 | 1,886 | $37.63 | 4,053 | $59.16


Question: How many shares of PSUs and MPSUs, and Time-Based RSUs does the company have Outstanding at December 31, 2018 respectively?
Answer: 2,174, 240
Results of Operations
The following table sets forth, as a percentage of total revenues, the results from our operations for the periods indicated.
Table:
 | 2019 | 2018
Revenues | 100.0% | 100.0%
Cost of revenues | 10.6 | 11.0
Gross profit | 89.4 | 89.0
Operating expenses: |  | 
Sales and marketing | 54.2 | 52.6
Product development | 6.2 | 8.1
General and administrative | 20.5 | 20.9
Total operating expenses | 80.9 | 81.6
Income from operations | 8.5 | 7.4
Other income (loss), net | (0.5) | —
Income before income taxes | 8.0 | 7.4
Income tax expense | 4.3 | 3.2
Net income | 3.7% | 4.2%


Question: What is the change in sales and marketing expenses between 2018 and 2019 as a percentage of total revenues?
Answer: 1.6
Calculation: 54.2-52.6
Consolidated Revenues
Consolidated revenues increased $1.0 billion, or 0.8%, during 2019 compared to 2018, primarily due to an increase in revenues at our Consumer segment, partially offset by decreases in revenues at our Business segment and Corporate and other.
Revenues for our segments are discussed separately below under the heading “Segment Results of Operations.”
Corporate and other revenues decreased $124 million, or 1.2%, during 2019 compared to 2018, primarily due to a decrease of $232 million in revenues within Verizon Media.
Table:
 |  |  | (dollars in millions) Increase/(Decrease) | 
Years Ended December 31, | 2019 | 2018 | 2019 vs. 2018 | 
Consumer | $ 91,056 | $ 89,762 | $ 1,294 | 1.4%
Business  | 31,443 | 31,534 | (91) | (0.3)
Corporate and other  | 9,812 | 9,936 | (124) | (1.2)
Eliminations  | (443) | (369) | (74) | 20.1
Consolidated Revenues | $131,868 | $130,863 | $ 1,005 | 0.8


Question: What was the decrease in the corporate and other revenue from 2018 to 2019?
Answer: $124 million
22. Income Taxes
Teekay and a majority of its subsidiaries are not subject to income tax in the jurisdictions in which they are incorporated because they do not conduct business or operate in those jurisdictions. However, among others, the Company’s U.K. and Norwegian subsidiaries are subject to income taxes.
The significant components of the Company’s deferred tax assets and liabilities are as follows:
(1) Substantially all of the Company's estimated net operating loss carryforwards of $878.3 million relates primarily to its U.K., Spanish, Norwegian and Luxembourg subsidiaries and, to a lesser extent, to its Australian subsidiaries.
The Company had estimated disallowed finance costs in Spain and Norway of approximately $15.1 million and $15.0 million, respectively, at December 31, 2019, which are available for 18 years and 10 years, respectively, from the year the costs are incurred for offset against future taxable income in Spain and Norway, respectively. The Company's estimated tax losses in Luxembourg are available for offset against taxable future income in Luxembourg, either indefinitely for losses arising prior to 2017, or for 17 years for losses arising subsequent to 2016.
Table:
 | December 31, | December 31,
 | 2019 | 2018
 | $ | $
Deferred tax assets: |  | 
Vessels and equipment | 1,646 | 5,868
Tax losses carried forward and disallowed finance costs (1) | 164,009 | 155,910
Other | 19,674 | 10,545
Total deferred tax assets | 185,329 | 172,323
Deferred tax liabilities: |  | 
Vessels and equipment | 22,913 | 18,037
Provisions | 6,512 | 5,588
Other | — | 2,060
Total deferred tax liabilities | 29,425 | 25,685
Net deferred tax assets | 155,904 | 146,638
Valuation allowance | (153,302) | (144,560)
Net deferred tax assets | 2,602 | 2,078


Question: What is the increase/ (decrease) in Deferred tax assets: Vessels and equipment from December 31, 2019 to December 31, 2018?
Answer: -4222
Calculation: 1,646-5,868
10. Geographic information:
Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing the Company’s performance. The Company has one operating segment. Revenues are attributed to regions based on where the services are provided. Below are the Company’s service revenues and long lived assets by geographic region (in thousands):
Table:
Year Ended December 31, 2019 Revenues | On-net | Off-net | Non-core | Total
North America | $319,330 | $131,815 | $422 | $451,567
Europe | 72,320 | 16,323 | 53 | 88,696
Asia Pacific | 4,615 | 778 | — | 5,393
Latin America | 488 | 15 | — | 503
Total | $396,753 | $148,931 | $475 | $546,159
Year Ended December 31, 2018 Revenues | On-net | Off-net | Non-core | Total
North America | $299,021 | $128,510 | $572 | $428,103
Europe | 72,958 | 15,918 | 62 | 88,938
Asia Pacific | 2,562 | 576 | — | 3,138
Latin America | 14 | — | — | 14
Total | $374,555 | $145,004 | $634 | $520,193
Year Ended December 31, 2017 Revenues | On-net | Off-net | Non-core | Total
North America | $278,714 | $122,683 | $797 | $402,194
Europe | 66,588 | 14,867 | 41 | 81,496
Asia Pacific | 1,143 | 342 | — | 1,485
Total | $346,445 | $137,892 | $838 | $485,175


Question: What is the value of the revenue from the on-net segment from North America as a percentage of the total revenue earned in North America in 2019?
Answer: 79.4
Calculation: 319,330/402,194
Interest and Other Income (Loss), Net
Interest Income (Expense), Net The following table summarizes interest income and interest expense (in millions):
Interest income decreased, driven by a decrease in the average balance of cash and available-for-sale debt investments. The decrease in interest expense was driven by a lower average debt balance, partially offset by the impact of higher effective interest rates.
Table:
 |  | Years Ended |  | 2019 vs. 2018
 | July 27, 2019 | July 28, 2018 | July 29, 2017 | Variance in Dollars
Interest income | $1,308 | $1,508 | $1,338 | $(200)
Interest expense | (859) | (943) | (861) | 84
Interest income (expense), net | $449 | $565 | $477 | $(116)


Question: Why did interest income decrease?
Answer: driven by a decrease in the average balance of cash and available-for-sale debt investments.
Actual STI Bonus Amounts Authorized. The actual amounts of the NEOs’ 2019 bonuses were calculated as
follows:
(1) Determined based on earned salary and applicable STI target bonus percentage during 2019 and includes pro-rations for any changes to salary and/or STI target bonus percentage described below.
a) Target Bonus Opportunity for Mr. Storey reflects his salary earned during 2019 of $1,800,011 and a STI target bonus percentage of 200%.
b) Target Bonus Opportunity for Mr. Dev reflects his salary earned during 2019 of $650,000 and a STI target bonus percentage of 120%.
c) Target Bonus Opportunity for Mr. Goff reflects his salary earned during 2019 of $600,018 and a STI target bonus percentage of 120%.
d) Target Bonus Opportunity for Mr. Trezise reflects his salary earned during 2019 with a salary increase, from $475,010 to $500,011, effective on February 23, 2019, and an increase of STI target bonus percentage from 80% to 90%, also effective on February 23, 2019.
e) Target Bonus Opportunity for Mr. Andrews reflects his salary earned during 2019 with a salary increase, from $425,006 to $525,000, effective on August 21, 2019, and a STI target bonus percentage of 100%.
(2) Calculated or determined as discussed above under “—2019 Performance Results.”
(3) Determined based on achievement of individual performance objectives as described further above in this Subsection.
Committee Discretion to Pay in Cash or Shares. The Committee may authorize the payment of annual bonuses in cash or shares of common stock. Since 2000, the Committee has paid these bonuses entirely in cash, principally to diversify our compensation mix and to conserve shares in our equity plans.
Recent Actions (February 2020). In connection with establishing targets for the 2020 STI program, the Committee increased Mr. Dev’s STI Target Bonus Percentage to 125%, in light of his position to market and performance as CFO, and made no changes to the target bonus percentage for any of our other NEOs.
Table:
 | 2019 STI Bonus Amounts |  |  |  |  |  | 
Named Officer | Target Bonus Opportunity (1) | X | Company Performance % (2) | X | Discretionary Adjustment for Individual Performance(3) | = | STI Bonus Amount
Current Executives: |  |  |  |  |  |  | 
Jeffrey K. Storey | $3,600,022 |  | 97% |  | 100% |  | $3,492,021
Indraneel Dev | 780,000 |  | 97% |  | 110% |  | 832,260
Stacey W. Goff | 720,021 |  | 97% |  | 100% |  | 698,420
Scott A. Trezise | 439,654 |  | 97% |  | 110% |  | 469,111
Shaun C. Andrews | 461,442 |  | 97% |  | 110% |  | 492,359


Question: How many current executives have a STI bonus amount greater than $500,000?
Answer: 3
Calculation: Jeffrey K. Storey##Indraneel Dev##Stacey W. Goff
Our net sales to significant customers as a percentage of total net sales were as follows:
We sell parts to these three transportation customers for certain vehicle platforms under purchase agreements that have no volume commitments and are subject to purchase orders issued from time to time.
No other customer accounted for 10% or more of total net sales during these periods. We continue to focus on broadening our customer base to diversify our end market exposure.
Changes in the level of our customers' orders have, in the past, had a significant impact on our operating results. If a major customer reduces the amount of business it does with us, or substantially changes the terms of that business, there could be an adverse impact on our operating results
Table:
 |  | Years Ended December 31, | 
 | 2019 | 2018 | 2017
Cummins Inc. | 16.1% | 15.2% | 13.4%
Honda Motor Co. | 11.6% | 10.5% | 11.2%
Toyota Motor Corporation | 9.6% | 10.5% | 10.2%


Question: What was the percentage of total net sales occupied by Cummins Inc. in 2017?
Answer: 13.4
through the certegy merger , the company has an obligation to service $ 200 million ( aggregate principal amount ) of unsecured 4.75% ( 4.75 % ) fixed-rate notes due in 2008 . the notes were recorded in purchase accounting at a discount of $ 5.7 million , which is being amortized over the term of the notes . the notes accrue interest at a rate of 4.75% ( 4.75 % ) per year , payable semi-annually in arrears on each march 15 and september 15 . on april 11 , 2005 , fis entered into interest rate swap agreements which have effectively fixed the interest rate at approximately 5.4% ( 5.4 % ) through april 2008 on $ 350 million of the term loan facilities ( or its replacement debt ) and at approximately 5.2% ( 5.2 % ) through april 2007 on an additional $ 350 million of the term loan . the company has designated these interest rate swaps as cash flow hedges in accordance with sfas no . 133 . the estimated fair value of the cash flow hedges results in an asset to the company of $ 4.9 million and $ 5.2 million , as of december 31 , 2006 and december 31 , 2005 , respectively , which is included in the accompanying consolidated balance sheets in other noncurrent assets and as a component of accumulated other comprehensive earnings , net of deferred taxes . a portion of the amount included in accumulated other comprehensive earnings is reclassified into interest expense as a yield adjustment as interest payments are made on the term loan facilities . the company 2019s existing cash flow hedges are highly effective and there is no current impact on earnings due to hedge ineffectiveness . it is the policy of the company to execute such instruments with credit-worthy banks and not to enter into derivative financial instruments for speculative purposes . principal maturities at december 31 , 2006 ( and at december 31 , 2006 after giving effect to the debt refinancing completed on january 18 , 2007 ) for the next five years and thereafter are as follows ( in thousands ) : december 31 , january 18 , 2007 refinancing .

Table:
 | december 31 2006 | january 18 2007 refinancing
2007 | $ 61661 | $ 96161
2008 | 257541 | 282041
2009 | 68129 | 145129
2010 | 33586 | 215586
2011 | 941875 | 165455
thereafter | 1646709 | 2105129
total | $ 3009501 | $ 3009501
fidelity national information services , inc .
and subsidiaries and affiliates consolidated and combined financial statements notes to consolidated and combined financial statements 2014 ( continued ) .

Question: what is the yearly interest expense associated with the certegy merger , ( in millions ) ?
Answer: 9.5
Calculation: multiply(200, 4.75%)
The following table presents the principal components of the difference between the effective tax rate to the U.S. federal statutory income tax rate for the years ended March 31:
During fiscal 2018, we recorded a provisional tax benefit of approximately $3.3 million as a result of the enactment of the Tax Cuts and Jobs Act ("Tax Act") on December 22, 2017.
We completed the accounting for the Tax Act during Q3 fiscal 2019 and recorded an adjustment on December 31, 2018 of $0.2 million to increase our deferred tax liability associated with certain indefinite lived intangibles. We have elected to account for global intangible low-taxed income (GILTI) inclusions in the period in which they are incurred.
Our tax provision includes a provision for income taxes in certain foreign jurisdictions where subsidiaries are profitable, but only a minimal benefit is reflected related to U.S. and certain foreign tax losses due to the uncertainty of the ultimate realization of future benefits from these losses.
The 2019 tax provision results primarily from foreign tax expense, the reversal of reserves for uncertain tax positions and the completion of our accounting for the Tax Act. The 2019 tax provision differs from the statutory rate primarily due to the recognition of net operating losses as deferred tax assets, which were offset by increases in the valuation allowance, state taxes and other U.S. permanent book to tax differences.
The 2018 tax provision primarily results from a reduction in the deferred rate and the ability to offset indefinite lived deferred tax liabilities with certain deferred tax assets due to passage of the Tax Act. The 2018 effective rate differs from the statutory rate primarily due to the impact of the Tax Act, recognition of net operating losses as deferred tax assets, which were offset by increases in the valuation allowance, certain foreign and state tax effects including a benefit of $0.4 million related to a settlement with the California Franchise Tax Board and other U.S. permanent book to tax differences.
The 2017 tax provision primarily results from state taxes, taxes withheld in foreign jurisdictions and foreign tax expense. The 2017 tax provision differs from the statutory rate primarily due to the recognition of net operating losses as deferred tax assets, which were offset by increases in the valuation allowance, state taxes and other U.S. permanent book to tax differences.
Table:
(In thousands) | 2019 | 2018 | 2017
Income tax benefit at the US Federal statutory rate | $(2,718) | $(3,654) | $(4,019)
Benefit for state taxes | (304) | (642) | (142)
Impact of foreign operations | (310) | 38 | 158
Indefinite life assets | 130 | 335 | 102
Officer life insurance | 3 | (5) | (6)
Change in valuation allowance | 3,302 | 3,328 | 4,007
Change in liability for unrecognized tax benefits | (400) | 40 | 9
Impact of Tax Act, net | 226 | (3,287) | —
Meals and entertainment | 60 | 81 | 163
Equity | 2 | 476 | —
Global intangible low-taxed income | 94 | — | —
Other | 136 | 39 | (36)
Total income tax expense (benefit) | $221 | $(3,251) | $236


Question: What was the adjustment against the tax act in Q3 2019?
Answer: $0.2 million
Shares Reserved for Issuance
The following are shares reserved for issuance (in thousands):
Table:
 | June 30,
2019 | June 30,
2018
2013 Equity Incentive Plan shares available for grant | 8,462 | 9,957
Employee stock options and awards outstanding | 10,455 | 12,060
2014 Employee Stock Purchase Plan | 10,085 | 5,365
Total shares reserved for issuance | 29,002 | 27,382


Question: What was the amount of Employee stock options and awards outstanding in 2018?
Answer: 12,060