hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
Production start-up
Production start-up expense consists primarily of employee compensation and other costs associated with operating a production line before it is qualified for full production, including the cost of raw materials for solar modules run through the production line during the qualification phase and applicable facility related costs. Costs related to equipment upgrades and implementation of manufacturing process improvements are also included in production start-up expense as well as costs related to the selection of a new site, related legal and regulatory costs, and costs to maintain our plant replication program to the extent we cannot capitalize these expenditures. In general, we expect production start-up expense per production line to be higher when we build an entirely new manufacturing facility compared with the addition or replacement of production lines at an existing manufacturing facility, primarily due to the additional infrastructure investment required when building an entirely new facility.
The following table shows production start-up expense for the years ended December 31, 2019, 2018, and 2017:
During 2019, we incurred production start-up expense at our new facility in Lake Township, Ohio. We also incurred production start-up expense at our second facility in Ho Chi Minh City, Vietnam in early 2019. During 2018, we incurred production start-up expense for the transition to Series 6 module manufacturing at our facilities in Kulim, Malaysia and Ho Chi Minh City, Vietnam. We also incurred production start-up expense for the transition to Series 6 module manufacturing at our facility in Perrysburg, Ohio in early 2018.
Table:
 |  | Years Ended |  |  | Change |  | 
(Dollars in thousands) | 2019 | 2018 | 2017 | 2019 over 2018 |  | 2018 over 2017 | 
Production start-up | $45,915 | $90,735 | $42,643 | $(44,820) | (49)% | $48,092 | 113%
% of net sales | 1.5% | 4.0% | 1.4% |  |  |  | 


Question: What are components of production start-up expense?
Answer: Production start-up expense consists primarily of employee compensation and other costs associated with operating a production line before it is qualified for full production, including the cost of raw materials for solar modules run through the production line during the qualification phase and applicable facility related costs.
Underlying operating profit and underlying operating margin
Underlying operating profit and underlying operating margin mean operating profit and operating margin before the impact of non-underlying items within operating profit. Underlying operating profit represents our measure of segment profit or loss as it is the primary measure used for making decisions about allocating resources and assessing performance of the segments.
The Group reconciliation of operating profit to underlying operating profit is as follows:
Further details of non-underlying items can be found in note 3 on page 96 of the consolidated financial statements.
Refer to Note 2 on page 94 for the reconciliation of operating profit to underlying operating profit by Division. For each Division operating margin is computed as operating profit divided by turnover and underlying operating margin is computed as underlying operating profit divided by turnover.
Table:
 | € million | € million | € million
 | 2019 | 2018 | 2017
 |  | (Restated)(a) | (Restated)(a)
Operating profit | 8,708 | 12,639 | 8,957
Non-underlying items within |  |  | 
operating profit (see note 3) | 1,239 | (3,176) | 543
Underlying operating profit | 9,947 | 9,463 | 9,500
Turnover | 51,980 | 50,982 | 53,715
Operating margin | 16.8% | 24.8% | 16.7%
Underlying operating margin | 19.1% | 18.6% | 17.7%


Question: What does the underlying operating profit represent? 
Answer: Underlying operating profit represents our measure of segment profit or loss as it is the primary measure used for making decisions about allocating resources and assessing performance of the segments.
The long-term rate of return assumption represents the expected average rate of earnings on the funds invested or to be invested to provide for the benefits included in the benefit obligations. That assumption is determined based on a number of factors, including historical market index returns, the anticipated long-term asset allocation of the plans, historical plan return data, plan expenses, and the potential to outperform market index returns.
We have the responsibility to formulate the investment policies and strategies for the plans’ assets. Our overall policies and strategies include: maintain the highest possible return commensurate with the level of assumed risk, and preserve benefit security for the plans’ participants.
We do not direct the day-to-day operations and selection process of individual securities and investments and, accordingly, we have retained the professional services of investment management organizations to fulfill those tasks. The investment management organizations have investment discretion over the assets placed under their management. We provide each investment manager with specific investment guidelines by asset class.
Table:
 |  | Years Ended September 30, | 
 | 2019 | 2018 | 2017
Weighted-average assumptions used to determine benefit obligation at September 30: |  |  | 
Discount rate | 2.5% | 3.6% | 3.3%
Rate of compensation increase | 3.1% | 3.3% | 3.2%
Weighted-average assumptions used to determine net periodic benefit cost for the years ended September 30: |  |  | 
Discount rate | 3.6% | 3.3% | 3.0%
Expected return on plan assets | 5.7% | 6.8% | 6.8%
Rate of compensation increase | 3.3% | 3.2% | 3.1%


Question: For the weighted-average assumptions used to determine benefit obligation at September 30, what is the average discount rate across 2017, 2018 and 2019?
Answer: 3.13
Calculation: (2.5%+3.6%+3.3%)/3
company stock performance the following graph shows a five-year comparison of cumulative total shareholder return , calculated on a dividend reinvested basis , for the company , the s&p 500 composite index , the s&p computer hardware index , and the dow jones u.s . technology index . the graph assumes $ 100 was invested in each of the company 2019s common stock , the s&p 500 composite index , the s&p computer hardware index , and the dow jones u.s . technology index on september 30 , 2006 . data points on the graph are annual . note that historic stock price performance is not necessarily indicative of future stock price performance . comparison of 5 year cumulative total return* among apple inc. , the s&p 500 index , the s&p computer hardware index and the dow jones us technology index sep-10sep-09sep-08sep-07sep-06 sep-11 apple inc . s&p 500 s&p computer hardware dow jones us technology *$ 100 invested on 9/30/06 in stock or index , including reinvestment of dividends . fiscal year ending september 30 . copyright a9 2011 s&p , a division of the mcgraw-hill companies inc . all rights reserved . copyright a9 2011 dow jones & co . all rights reserved . september 30 , september 30 , september 30 , september 30 , september 30 , september 30 .

Table:
 | september 30 2006 | september 30 2007 | september 30 2008 | september 30 2009 | september 30 2010 | september 30 2011
apple inc . | $ 100 | $ 199 | $ 148 | $ 241 | $ 369 | $ 495
s&p 500 | $ 100 | $ 116 | $ 91 | $ 85 | $ 93 | $ 94
s&p computer hardware | $ 100 | $ 148 | $ 124 | $ 147 | $ 174 | $ 197
dow jones us technology | $ 100 | $ 123 | $ 94 | $ 104 | $ 117 | $ 120
.

Question: what was the cumulative percentage return for the five years ended september 30 , 2011 for apple inc.?
Answer: 395%
Calculation: subtract(495, 100), divide(#0, 100)
3.1 OPERATING RESULTS
(1) Fiscal 2019 average foreign exchange rate used for translation was 1.3255 USD/CDN.
(2) 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.
(3) Fiscal 2019 actuals are translated at the average foreign exchange rate of fiscal 2018 which was 1.2773 USD/CDN.
Table:
Years ended August 31, | 2019 (1) | 2018 (2) | Change | Change in constant currency (3) | Foreign exchange impact (3)
(in thousands of dollars, except percentages) | $ | $ | % | % | $
Revenue | 2,331,820 | 2,147,404 | 8.6 | 6.8 | 37,433
Operating Expenses | 1,203,980 | 1,121,625 | 7.3 | 5.4 | 21,636
Management fees – Cogeco Inc. | 19,900 | 18,961 | 5.0 | 5.0 | -
Adjusted EBITDA | 1,107,940 | 1,006,818 | 10.0 | 8.5 | 15,797
Adjusted EBITDA margin | 47.5% | 46.9% |  |  | 


Question: What was the average operating expenses between 2018 and 2019?
Answer: 1162802.5
Calculation: (1,203,980 + 1,121,625) / 2
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: Which years does the table provide information for the company's shares reserved for issuance?
Answer: 2019, 2018
21 Called up share capital and reserves
Other reserves in the Consolidated Statement of Changes in Equity on pages 151 to 152 are made up as follows:
The change in translation reserve includes a £1.4m credit transferred from retained earnings.
Table:
 | 1st January 2019 | Change in year | 31st December 2019
 | £m | £m | £m
Translation reserve | 30.3 | (45.0) | (14.7)
Net investment hedge reserve | (7.4) | 12.9 | 5.5
Cash flow hedges reserve | – | 3.3 | 3.3
Capital redemption reserve | 1.8 | – | 1.8
Employee Benefit Trust reserve | (2.5) | (4.0) | (6.5)
Total other reserves | 22.2 | (32.8) | (10.6)


Question: What was the amount of capital redemption reserve as a percentage of the total other reserves on 1st January 2019?
Answer: 8.11
Calculation: 1.8/22.2
Note 7 – Equipment, Leasehold Improvements and Software
Equipment, leasehold improvements and software as of December 27, 2019 and December 28, 2018 consisted of the following:
Construction-in-process at December 27, 2019 related primarily to the implementation of the Company’s Enterprise Resource Planning (“ERP”) system and at December 28, 2018 related primarily to the implementation of the Company’s ERP system and the buildout of the Company’s headquarters in Ridgefield, CT. The buildout of the Company’s headquarters was completed during fiscal 2019. The rollout of its ERP system will continue through fiscal 2020. The net book value of equipment financed under finance leases at December 27, 2019 and December 28, 2018 was $3,905 and $388, respectively. No interest expense was capitalized during the fiscal years ended December 27, 2019, December 28, 2018 and December 29, 2017.
Table:
 | Useful Lives | December 27, 2019  | December 28, 2018
Land | Indefinite | $1,170 | $1,170
Buildings | 20 years | 1,360 | 1,292
Machinery and equipment | 5-10 years | 21,718 | 17,837
Computers, data processing and other equipment | 3-7 years | 12,686 | 11,244
Software | 3-7 years | 29,305 | 22,779
Leasehold improvements | 1-40 years | 70,903 | 60,565
Furniture and fixtures | 7 years | 3,309 | 3,268
Vehicles | 5-7 years | 6,410 | 2,769
Other | 7 years | 95 | 95
Construction-in-process    |  | 9,200 | 15,757
 |  | 156,156 | 136,776
Less: accumulated depreciation and amortization    |  | (63,310) | (51,500)
Equipment, leasehold improvements and software, net |  | $92,846 | $85,276


Question: What is the useful lives of Machinery and equipment?
Answer: 5-10 years
A.3.8 Financial Services
Financial Services supports its customers’ investments with leasing solutions and equipment, project and structured financing in the form of debt and equity investments. Based on its comprehensive financing know-how and specialist technology expertise in
the areas of Siemens businesses, Financial Services provides financial
solutions for Siemens customers as well as other companies.
Financial Services again delivered strong earnings before taxes. While the equity business recorded higher results, the result from the debt business declined, amongst others due to higher credit hits. Total assets increased along with a growth in debt business and in part due to positive currency translation effects.
Financial Services is geared to Siemens’ industrial businesses and its markets. As such Financial Services is influenced by the business development of the markets served by our industrial businesses, among other factors. Financial Services will continue to focus its business scope on areas of intense domain know-how.
Table:
 |  | Fiscal year
(in millions of €) | 2019 | 2018
Earnings before taxes (EBT) | 632 | 633
ROE (after taxes) | 19.1 % | 19.7 %
 |  | Sep 30,
(in millions of €) | 2019 | 2018
Total assets | 29,901 | 27,628


Question: What caused the Total assets to increase?
Answer: Total assets increased along with a growth in debt business and in part due to positive currency translation effects.
CAPITAL MANAGEMENT
The primary objective of the Company’s capital management is to ensure that it maintains a strong credit rating and healthy capital ratios to support its business and maximize the stockholders’ value. The Company also ensures its ability to operate continuously to provide returns to stockholders and the interests of other related parties, while maintaining the optimal capital structure to reduce costs of capital.
To maintain or adjust the capital structure, the Company may adjust the dividend payment to stockholders, return capital to stockholders, issue new shares or dispose assets to redeem liabilities.
Similar to its peers, the Company monitors its capital based on debt to capital ratio. The ratio is calculated as the Company’s net debt divided by its total capital. The net debt is derived by taking the total liabilities on the consolidated balance sheets minus cash and cash equivalents. The total capital consists of total equity (including capital, additional paid-in capital, retained earnings, other components of equity and non-controlling interests) plus net debt.
The Company’s strategy, which is unchanged for the reporting periods, is to maintain a reasonable ratio in order to raise capital with reasonable cost. The debt to capital ratios as of December 31, 2018 and 2019 were as follows:
Table:
 | As of December 31, | 
 | 2018 | 2019
 | NT$ | NT$
 | (In Thousands) | (In Thousands)
Total liabilities | $158,199,746 | $163,347,778
Less: Cash and cash equivalents | (83,661,739) | (95,492,477)
Net debt | 74,538,007 | 67,855,301
Total equity | 204,397,483 | 202,913,915
Total capital | $278,935,490 | $270,769,216
Debt to capital ratios | 26.72% | 25.06%


Question: What is the company's strategy?
Answer: the Company’s strategy, which is unchanged for the reporting periods, is to maintain a reasonable ratio in order to raise capital with reasonable cost.
9. Pensions continued
Defined benefit plans continued
ii) Amounts in the financial statements continued
e) Movements in the fair value of plans’ assets
Table:
 | 2019 | 2018
 | $ million | $ million
At 1 January | 254.2 | 282.6
Interest income on plans’ assets | 7.0 | 7.0
Employer contributions | 6.6 | 6.8
Benefit payments | (11.4) | (12.1)
Plan administration expenses | (0.6) | (0.5)
Re-measurement gain/(loss) on plans’ assets | 25.8 | (14.2)
Exchange adjustment | 9.5 | (15.4)
Fair value of plans’ assets | 291.1 | 254.2


Question: What was the change in the fair value of plans' assets?
Answer: 36.9
Calculation: 291.1-254.2
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 might the estimated potential impact being in the range of $75 million result in?
Answer: a decrease in deferred tax assets and an increase in tax expense
Accrued Liabilities
Accrued liabilities consisted of the following (in thousands):
Table:
 | December 31, 2019 | December 31, 2018
Accrued compensation and benefits | $12,227 | $15,283
Accrued tax liabilities | 4,354 | 4,455
Lease liabilities | 5,109 | —
Other | 6,066 | 5,553
Total accrued liabilities | $27,756 | $25,291


Question: What is the units that the values in the table are measured in?
Answer: in thousands
Share Repurchase
In September 2015, our Board of Directors authorized a program to repurchase up to $150.0 million of our common stock over a thirty-month period. In November 2017, our Board of Directors approved an extension of the share repurchase program to December 2019 from its original maturity of March 2018. In May 2018, our Board of Directors approved a $50 million increase in its authorization to repurchase shares of our common stock under this same program.
On December 18, 2019, the Board of Directors authorized to remove the expiration date to the Company’s share repurchase program and increase the authorized amount by $25.1 million. As of December 31, 2019, the Company is authorized to repurchase shares of the Company’s common stock of up to a total of $50.0 million.
ADVANCED ENERGY INDUSTRIES, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (continued) (in thousands, except per share amounts)
In order to execute the repurchase of shares of our common stock, the Company periodically enters into stock repurchase agreements. During the years ended December 31, 2019, 2018 and 2017 the Company has repurchased the following shares of common stock:
Table:
 |  | Years Ended December 31, | 
(in thousands, except per share amounts) | 2019 | 2018 | 2017
Amount paid to repurchase shares | $  — | $95,125 | $29,993
Number of shares repurchased | — | 1,696 | 422
Average repurchase price per share | $  — | $56.07 | $71.07


Question: What are the years included in the table?
Answer: 2019, 2018, 2017
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (in thousands, except for share and per share data)
NOTE 18 — Income Taxes
Significant components of our deferred tax assets and liabilities are as follows:
Table:
 | As of December 31, | 
 | 2019 | 2018
Post-retirement benefits | $1,100 | $1,061
Inventory reserves | 708 | 1,236
Loss carry-forwards | 4,724 | 4,647
Credit carry-forwards | 15,964 | 16,909
Accrued expenses | 4,932 | 5,685
Research expenditures | 17,953 | 16,847
Operating lease liabilities | 6,211 | —
Stock compensation | 2,232 | 2,142
Foreign exchange loss | 1,986 | 2,245
Other | 230 | 207
Gross deferred tax assets | 56,040 | 50,979
Depreciation and amortization | 12,453 | 11,500
Pensions | 13,552 | 11,736
Operating lease assets | 5,963 | —
Subsidiaries' unremitted earnings | 1,903 | 1,258
Gross deferred tax liabilities | 33,871 | 24,494
Net deferred tax assets | 22,169 | 26,485
Deferred tax asset valuation allowance | (8,011) | (8,274)
Total net deferred tax assets | $14,158 | $18,211


Question: What was the change in Research expenditures between 2018 and 2019?
Answer: 1106
Calculation: 17,953-16,847
10 Earnings per share
Basic and diluted earnings per share calculated on an adjusted profit basis are included in Note 2.
The dilution is in respect of unexercised share options and the Performance Share Plan.
Table:
 | 2019 | 2018
Profit attributable to equity shareholders (£m) | 166.6 | 223.1
Weighted average shares (million) | 73.7 | 73.6
Dilution (million) | 0.2 | 0.2
Diluted weighted average shares (million) | 73.9 | 73.8
Basic earnings per share | 226.2p | 303.1p
Diluted earnings per share | 225.5p | 302.0p


Question: What is the dilution of earnings per share in respect of?
Answer: unexercised share options and the Performance Share Plan.
Notes to Consolidated Financial Statements (Continued)
The following geographic information includes Property, plant and equipment, net, based on physical location (amounts in thousands):
(1) No country included in this caption exceeded 1% of consolidated Property, plant and equipment net for fiscal years 2019 and 2018.
Table:
 | March 31, | 
 | 2019 | 2018
United States | $57,095 | $49,530
Japan | 89,602 | 79,855
Thailand | 82,389 | 74,100
Mexico | 121,147 | 62,503
Italy | 35,197 | 39,398
China | 45,815 | 36,396
Portugal | 31,872 | 29,073
Macedonia | 12,906 | 13,723
Bulgaria | 5,480 | 5,597
Sweden | 4,800 | 6,005
Other (1) | 8,977 | 9,136
Total Non-United States | 438,185 | 355,786
 | $495,280 | $405,316


Question: Which years does the table provide information for Property, plant and equipment, net, based on physical location?
Answer: 2019, 2018