hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
14. INCOME TAXES
Our effective tax rates for each of the periods presented are the result of the mix of income earned in various tax jurisdictions that apply a broad range of income tax rates. The more significant provisions of the Tax Act as applicable to us are described in Note 1 above under “Impacts of the U.S. Tax Cuts and Jobs Act of 2017.” During fiscal 2019, we recorded a net benefit of $389 million in accordance with SAB 118 related to adjustments in our estimates of the one-time transition tax on certain foreign subsidiary earnings, and the remeasurement of our net deferred tax assets and liabilities affected by the Tax Act. Our provision for income taxes for fiscal 2019 varied from the 21% U.S. statutory rate imposed by the Tax Act primarily due to earnings in foreign operations, state taxes, the U.S. research and development tax credit, settlements with tax authorities, the tax effects of stock-based compensation, the Foreign Derived Intangible Income deduction, the tax effect of GILTI, and a reduction to our transition tax recorded consistent with the provision of SAB 118. Our provision for income taxes for fiscal 2018 varied from the 21% U.S. statutory rate imposed by the Tax Act primarily due to the impacts of the Tax Act upon adoption, state taxes, the U.S. research and development tax credit, settlements with tax authorities, the tax effects of stock-based compensation and the U.S. domestic production activity deduction. Prior to the January 1, 2018 effective date of the Tax Act, our provision for income taxes historically differed from the tax computed at the previous U.S. federal statutory income tax rate due primarily to certain earnings considered as indefinitely reinvested in foreign operations, state taxes, the U.S. research and development tax cr edit, settlements with tax authorities, the tax effects of stock-based compensation and the U.S. domestic production activity deduction.
The following is a geographical breakdown of income before the provision for income taxes:
Table:
 | Year Ended May 31 |  | 
(in millions) | 2019 | 2018 | 2017
Domestic | $3,774 | $3,366 | $3,674
Foreign | 8,494 | 9,058 | 8,006
Income before provision for income taxes | $12,268 | $12,424 | $11,680
 |  |  | 


Question: Why did the company's provision for income taxes for fiscal 2019 vary from the 21% U.S. statutory rate imposed by the Tax Act?
Answer: Our provision for income taxes for fiscal 2019 varied from the 21% U.S. statutory rate imposed by the Tax Act primarily due to earnings in foreign operations, state taxes, the U.S. research and development tax credit, settlements with tax authorities, the tax effects of stock-based compensation, the Foreign Derived Intangible Income deduction, the tax effect of GILTI, and a reduction to our transition tax recorded consistent with the provision of SAB 118.
Executive Director Fixed Pay increases
The Committee has approved Fixed Pay increases of 4% for the CEO and 3% for the CFO, effective from 1 January 2020. This is in line with the average increase awarded to the wider Unilever workforce in 2019 of 3.6%. These increases were awarded to recognise the strong leadership of both individuals in 2019, which was Alan Jope’s first year in the CEO role and a year of transformation for Unilever generally. We also wanted to recognise Graeme Pitkethly’s seniority in his role, coming into his 5th year as CFO.
When our CEO Alan Jope was appointed on 1 January 2019 he was appointed with Fixed Pay 14% below that of what the Committee proposed for his predecessor and at the lower quartile of our remuneration benchmarking peer group, despite Unilever being one of the largest companies in this peer group. This positioning was intentional, given Alan’s internal promotion on appointment. However, subject to Alan’s continuing good performance the Committee will, over time, continue to review his Fixed Pay positioning and progress this towards the market median benchmark.
* MCIP at maximum (67%) investment of bonus.
Table:
 | Alan Jope CEO €'000 p.a. |  | Graeme Pitkethly CFO €'000 p.a. | 
 | 2019 | 2020 | 2019 | 2020
Fixed Pay | 1,450 | 1,508 | 1,103 | 1,136
Annual Bonus | 2,175 | 2,262 | 1,323 | 1,363
MCIP* Match share award | 2,186 | 2,273 | 1,330 | 1,370
Target Total Pay | 5,811 | 6,043 | 3,756 | 3,869
Personal MCIP* Investment in | 67% | 67% | 67% | 67%
Unilever shares | 1,457 | 1,516 | 886 | 913


Question: What is the difference in the target total pay between CEO and CFO in 2020?
Answer: 2174
Calculation: 6,043 - 3,869
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 nominal difference of non-current self-insured risks between 2019 and 2018?
Answer: 11
Calculation: 430 - 419
Property and Equipment, Net
Property and equipment, net, consisted of the following (in thousands):
Depreciation expense on property and equipment was $5.0 million, $6.4 million and $7.1 million for the years
ended December 31, 2019, 2018 and 2017, respectively
Table:
 | Useful life (in years) | December 31, 2019 | December 31, 2018
Equipment | 1-3 | $22,702 | $49,804
Software | 1-3 | 726 | 4,088
Furniture and fixtures | 1-3 | 459 | 967
Leasehold improvements | 2-8 | 5,440 | 3,832
Construction in progress |  | -- | 160
Property and equipment, gross |  | 29,327 | 58,581
Less: accumulated depreciation |  | (21,671) | (51,589)
Property and equipment, net |  | $7,656 | $7,262


Question: What is the total depreciation expense on property and equipment from 2017 to 2019?
Answer: 18.5
Calculation: 5.0+6.4+7.1
Note 9. Non-current assets - property, plant and equipment
Property, plant and equipment secured under finance leases
Refer to note 24 for further information on property, plant and equipment secured under finance leases.
Accounting policy for property, plant and equipment
Plant and equipment are stated at cost less accumulated depreciation and any accumulated impairment losses. Cost includes expenditure that is directly attributable to the acquisition of the items. Subsequent costs are included in the assets carrying amount or recognised as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the group and the cost of the item can be measured reliably.
Plant and equipment are depreciated and leasehold improvements are amortised over their estimated useful lives using the straightline method. Assets held under finance lease are depreciated over their expected useful lives as owned assets or, where shorter, the term of the relevant lease.
Table:
Consolidated |  | 
 | 2019 | 2018
 | US$000 | US$000
Leasehold improvements - at cost | 7,754 | 5,181
Less: Accumulated depreciation | (3,648) | (2,501)
 | 4,106 | 2,680
Plant and equipment - at cost | 6,472 | 5,298
Less: Accumulated depreciation | (2,827) | (2,278)
 | 3,645 | 3,020
Plant and equipment under lease | 15 | 27
Less: Accumulated depreciation | (4) | (15)
 | 11 | 12
 | 7,762 | 5,712


Question: What is the percentage change in the leasehold improvements before depreciation from 2018 from 2019?
Answer: 49.66
Calculation: (7,754-5,181)/5,181
(1) Fiscal 2018 was restated to comply with IFRS 15 and to reflect a change in accounting policy as well as to reclassify results from Cogeco Peer 1 as discontinued operations. For further details, please consult the "Accounting policies" and "Discontinued operations" sections.
(2) The non-controlling interest represents a participation of 21% in Atlantic Broadband's results by Caisse de dépot et placement du Québec ("CDPQ"), effective since the MetroCast acquisition on January 4, 2018.
Fiscal 2019 fourth-quarter profit for the period from continuing operations and profit for the period from continuing operations attributable to owners of the Corporation increased by 21.8% and 20.8%, respectively, as a result of: • higher adjusted EBITDA; and • the decrease in financial expense.
Fiscal 2019 fourth-quarter profit for the period and profit for the period attributable to owners of the Corporation increased by 26.1% and 25.2%, respectively, mainly due to a profit for the period from discontinued operations of $1.9 million due to working capital adjustments during the fourth quarter related to the sale of Cogeco Peer 1 compared to a loss for the period from discontinued operations of $1.1 million for the comparable period of the prior year in addition to the elements mentioned above.
Table:
Three months ended August 31, | 2019 | 2018(2) | Change
(in thousands of dollars, except percentages and earnings per share) | $ | $ | %
Profit for the period from continuing operations | 92,403 | 75,870 | 21.8
Profit for the period | 94,323 | 74,818 | 26.1
Profit for the period from continuing operations attributable to owners of the Corporation | 87,850 | 72,753 | 20.8
Profit for the period attributable to owners of the Corporation | 89,770 | 71,701 | 25.2
Profit for the period from continuing operations attributable to non-controlling interest(2) | 4,553 | 3,117 | 46.1
Basic earnings per share from continuing operations | 1.78 | 1.48 | 20.3
Basic earnings per share | 1.82 | 1.45 | 25.5


Question: What is the increase/ (decrease) in Profit for the period from continuing operations attributable to owners of the Corporation from 2018 to 2019?
Answer: 15097
Calculation: 87,850-72,753
Sales and Marketing Expense
Sales and marketing expense increased by $18.1 million in 2019 compared to 2018. The increase was primarily due to a $15.5 million increase in employee-related costs, which includes stock-based compensation, associated with our increased headcount from 286 employees as of December 31, 2018 to 345 employees as of December 31, 2019. The remaining increase was principally the result of a $1.2 million increase in trade show and advertising costs and a $1.0 million increase attributed to office related expenses to support the sales team.
Table:
 | Year Ended December 31, |  | Change | 
 | 2019 | 2018 | $ | %
 |  | (dollars in thousands) |  | 
Sales and marketing | $ 87,731 | $ 69,608 | $ 18,123 | 26.0%
% of revenue | 44% | 47% |  | 


Question: What was increase in the trade show and advertising cost in 2019?
Answer: $1.2 million
NOTE 7 — PROPERTY AND EQUIPMENT
The components of property and equipment were as follows:
During fiscal years 2019, 2018, and 2017, depreciation expense was $9.7 billion, $7.7 billion, and $6.1 billion, respectively. We have committed $4.0 billion for the construction of new buildings, building improvements, and leasehold improvements as of June 30, 2019.
Table:
(In millions) |  | 
June 30, | 2019 | 2018
Land | $ 1,540 | $ 1,254
Buildings and improvements | 26,288 | 20,604
Leasehold improvements | 5,316 | 4,735
Computer equipment and software | 33,823 | 27,633
Furniture and equipment | 4,840 | 4,457
Total, at cost | 71,807 | 58,683
Accumulated depreciation | (35,330) | (29,223)
Total, net | $  36,477 | $  29,460


Question: How much was the average depreciation expense over the 3 year period from 2017 to 2019?
Answer: 7.83
Calculation: ($9.7+7.7+6.1)/(2019-2017+1)
ITEM 6. SELECTED FINANCIAL DATA (Dollars in thousands, except per share data and unless otherwise indicated)
The Selected Consolidated Statements of Operations Data for the years ended December 31, 2019, 2018 and 2017 and the Selected Consolidated Balance Sheet Data as of December 31, 2019 and 2018 were derived from our Consolidated Financial Statements included in Item 8 of this Form 10-K. The Selected Consolidated Statements of Operations Data for the years ended December 31, 2016 and 2015 and the Selected Consolidated Balance Sheet Data as of December 31, 2017 and 2016 were derived from our audited Consolidated Financial Statements not included in this Form 10-K. Our historical results are not necessarily indicative of the results to be expected in the future. You should read the following financial information together with the information under Item 7 "Management's Discussion and Analysis of Financial Condition and Results of Operations" and the Consolidated Financial Statements and related notes included in Item 8.
GS Holdings and GSLLC are our predecessors for accounting purposes and, accordingly, amounts prior to the Reorganization Transactions and IPO represent the historical consolidated operations of either GS Holdings or GSLLC and its subsidiaries. The amounts as of December 31, 2019 and 2018 and during the period from May 24, 2018 through December 31, 2019 represent those of consolidated GreenSky, Inc. and its subsidiaries. Prior to the Reorganization Transactions and IPO, GreenSky, Inc. did not engage in any business or other activities except in connection with its formation and initial capitalization. See Note 1 to the Notes to Consolidated Financial Statements in Item 8 for further information on our organization.
Table:
 |  | December 31, |  | 
Selected Consolidated Balance Sheet Data: | 2019 | 2018 | 2017 | 2016
Cash and cash equivalents | $195,760 | $303,390 | $224,614 | $185,243
Restricted cash | 250,081 | 155,109 | 129,224 | 42,871
Loan receivables held for sale, net | 51,926 | 2,876 | 73,606 | 41,268
Deferred tax assets, net | 364,841 | 306,979 | — | —
Total assets | 951,048 | 802,905 | 462,889 | 302,205
Finance charge reversal liability | 206,035 | 138,589 | 94,148 | 68,064
Term loan | 384,497 | 386,822 | 338,263 | —
Tax receivable agreement liability | 311,670 | 260,901 | — | —
Total liabilities | 1,005,991 | 837,670 | 488,928 | 89,995
Total temporary equity | — | — | 430,348 | 335,720
Noncontrolling interest | (80,758) | (60,349) | — | —
Total permanent equity (deficit) | (54,943) | (34,765) | (456,387) | (123,510)
Total liabilities, temporary equity and permanent equity (deficit) | 951,048 | 802,905 | 462,889 | 302,205


Question: What was the change in Cash and cash equivalents between 2016 and 2017?
Answer: 39371
Calculation: 224,614-185,243
Adjusted earnings per share
Basic adjusted earnings per share is defined as adjusted profit for the period attributable to equity holders divided by the weighted average number of shares. Diluted adjusted earnings per share is defined as adjusted profit for the period attributable to equity holders divided by the diluted weighted average number of shares.
Basic and diluted EPS calculated on an IFRS profit basis are included in Note 10.
Table:
 | 2019 | 2018
Profit for the period attributable to equity holders as reported under IFRS (£m) | 166.6 | 223.1
Items excluded from adjusted operating profit disclosed above (£m) | 37.7 | (34.2)
Tax effects on adjusted items (£m) | (8.5) | (5.0)
Adjusted profit for the period attributable to equity holders (£m) | 195.8 | 183.9
Weighted average shares (million) | 73.7 | 73.6
Basic adjusted earnings per share | 265.7p | 250.0p
Diluted weighted average shares (million) | 73.9 | 73.8
Diluted adjusted earnings per share | 264.9p | 249.1p


Question: What is the Tax effects on adjusted items for 2018 and 2019 respectively?
Answer: (5.0), (8.5)
Research and Development
The increase in research and development expenses in fiscal 2019 compared to fiscal 2018 was primarily driven by an increase in employee compensation costs caused by increases in headcount, annual compensation and benefit adjustments and employee performance-based compensation, partially offset by a decrease in project material costs.
Table:
Fiscal Year Ended |  |  |  | 
 | December 28, 2019 | December 29, 2018 | $ Change | % Change
(Dollars in thousands) |  |  |  | 
Research and development | $81,499 | $74,976 | $6,523 | 8.7 %
% of revenues | 13.8 % | 14.2 % |  | 
Fiscal Year Ended |  |  |  | 
 | December 29, 2018 | December 30, 2017 | $ Change | % Change
(Dollars in thousands) |  |  |  | 
Research and development | $74,976 | $73,807 | $1,169 | 1.6 %
% of revenues | 14.2 % | 13.5 % |  | 


Question: What was the change in Research and development from 2018 to 2019?
Answer: $6,523
Effect of ASC 606 as of December 31, 2018 and for the Year Ended December 31, 2018
The following table summarizes the effect of adopting ASC 606 on our Consolidated Balance Sheet (in millions):
Table:
 | As reported December 31, 2018 | Effect of ASC 606 adoption | Amounts without adoption of ASC 606 December 31, 2018
Trade receivables, net | $172.3 | $6.9 | $179.2
Prepaid expenses and other current assets | 67.3 | (14.4) | 52.9
Receivables from related parties | 6.2 | 4.8 | 11.0
Computer software, net | 405.6 | (3.7) | 401.9
Deferred contract costs, net | 161.3 | (17.2) | 144.1
Other non-current assets | 125.6 | (7.0) | 118.6
Total assets | 3,653.4 | (30.6) | 3,622.8
Deferred revenues (current) | 52.9 | 4.1 | 57.0
Deferred revenues (non-current) | 106.8 | (4.3) | 102.5
Deferred income taxes | 220.9 | (8.1) | 212.8
Total liabilities | 1,866.9 | (8.3) | 1,858.6
Retained earnings | 381.1 | (22.3) | 358.8
Total equity | 1,786.5 | (22.3) | 1,764.2
Total liabilities and equity | 3,653.4 | (30.6) | 3,622.8


Question: What was the effect of ASC 606 adoption on net computer software?
Answer: (3.7)
Accumulated other comprehensive income (loss)
Components and activities of AOCI, net of tax, were as follows:
During fiscal 2018, a net foreign currency translation loss of $8 million related to foreign entities sold in the divestiture of our WSS and PKI solutions was reclassified to Gain on divestiture, and a net gain of $3 million related to liquidated foreign entities was reclassified to Other income (expense), net. A realized gain of $7 million on securities sold in connection with the divestiture of our WSS and PKI solutions was reclassified to Gain on divestiture. The tax effect of $3 million was reclassified to Income tax expense (benefit).
Table:
(In millions) | Foreign Currency Translation Adjustments | Unrealized Gain (Loss) On Available- For-Sale Securities | Equity Method Investee | Total AOCI
Balance as of March 31, 2017 | $7 | $5 | $— | $12
Other comprehensive loss before reclassifications | (4) | (5) | — | (9)
Reclassification to net income (loss) | 5 | (4) | — | 1
Balance as of March 30, 2018 | 8 | (4) | — | 4
Other comprehensive income (loss) before reclassifications | (13) | 3 | (1) | (11)
Balance as of March 29, 2019 | $(5) | $(1) | $(1) | $(7)


Question: What is the Total AOCI  Balance as of March 31, 2017?
Answer: $12
GasLog Ltd. and its Subsidiaries
Notes to the consolidated financial statements (Continued)
For the years ended December 31, 2017, 2018 and 2019
(All amounts expressed in thousands of U.S. Dollars, except share and per share data)
22. Share-Based Compensation (Continued)
Movement in RCUs and PCUs
The summary of RCUs and PCUs is presented below:
The total expense recognized in respect of share-based compensation for the year ended December 31, 2019 was $5,107 (December 31, 2018: $5,216 and December 31, 2017: $4,565). The total accrued cash distribution as of December 31, 2019 is $1,176 (December 31, 2018: $1,265).
Table:
 | Number of awards | Weighted average contractual life | Aggregate fair value
RCUs |  |  | 
Outstanding as of January 1, 2018 | 67,475 | 1.38 | 1,429
Granted during the year | 24,608 | — | 576
Vested during the year | (16,999) | — | (410)
Outstanding as of December 31, 2018 | 75,084 | 1.25 | 1,595
Granted during the year | 26,308 | — | 605
Vested during the year | (24,925) | — | (410)
Outstanding as of December 31, 2019 | 76,467 | 1.26 | 1,790
PCUs |  |  | 
Outstanding as of January 1, 2018 | 67,475 | 1.38 | 1,429
Granted during the year | 24,608 | — | 576
Vested during the year | (16,999) | — | (410)
Outstanding as of December 31, 2018 | 75,084 | 1.25 | 1,595
Granted during the year | 26,308 | — | 605
Vested during the year | (24,925) | — | (410)
Outstanding as of December 31, 2019 | 76,467 | 1.26 | 1,790


Question: In which year was the total expense recognized in respect of share-based compensation the highest?
Answer: 2018
Calculation: $5,216 > $5,107 > $4,565
The following table presents the effect of the adoption of the new revenue guidance on the Consolidated Statement of Operations for the fiscal year ended August 31, 2019 (in thousands):
(1) Differences primarily relate to the timing of revenue recognition for over-time customers and to the recovery of fulfillment costs.
(2) Differences primarily relate to the timing of cost recognition for over-time customers and the recognition of fulfillment costs.
Table:
 | Fiscal Year Ended | 
 | August 31, 2019 | 
 | As reported | Balance without the adoption of ASU 2014-09
Net revenue(1) | $25,282,320 | $24,864,754
Cost of revenue(2) | $23,368,919 | $23,057,603
Operating income | $701,356 | $595,105
Income tax expense | $161,230 | $164,054
Net income | $289,474 | $180,399


Question: What was the difference in the net income between the amount as reported and the balance without the adoption of ASU 2014-09?
Answer: 109075
Calculation: 289,474-180,399
Operating income in the Industrial Solutions segment increased $78 million in fiscal 2019 from fiscal 2018. The Industrial Solutions segment’s operating income included the following:
Excluding these items, operating income increased in fiscal 2019 primarily as a result of higher volume and improved manufacturing productivity.
Table:
 |  | Fiscal
 | 2019 | 2018
 |  | (in millions)
Acquisition-related charges: |  | 
Acquisition and integration costs | $  10 | $  6
Charges associated with the amortization of acquisition-related fair value adjustments | 3 | 4
 | 13 | 10
Restructuring and other charges, net | 63 | 80
Other items | 2 | —
Total | $  78 | $  90


Question: What was the percentage change in Acquisition and integration costs in 2019 from 2018?
Answer: 66.67
Calculation: (10-6)/6