hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
Non-GAAP Measures
In addition to the results reported in accordance with US GAAP, we also use certain non-GAAP measures such as EBITDA and adjusted EBITDA to evaluate operating performance and to facilitate the comparison of our historical results and trends. These financial measures are not a measure of financial performance under US GAAP and should not be considered in isolation or as a substitute for net income as a measure of performance and net cash provided by operating activities as a measure of liquidity.
They are not, on their own, necessarily indicative of cash available to fund cash needs as determined in accordance with GAAP. The calculation of these non-GAAP measures may not be comparable to similarly titled measures used by other companies. Reconciliations of these non-GAAP measures to the most directly comparable financial measures presented in accordance with GAAP are provided below.
EBITDA is defined as net earnings before interest expense, income taxes, and depreciation and amortization. Adjusted EBITDA is comprised of EBITDA, adjusted for certain items as permitted or required under our credit facility as described in the reconciliations below. These measures are a common measure of operating performance in the telecommunications industry and are useful, with other data, as a means to evaluate our ability to fund our estimated uses of cash.
The following tables are a reconciliation of net income (loss) to adjusted EBITDA for the years ended December 31, 2019, 2018 and 2017:
(1) Other, net includes the equity earnings from our investments, dividend income, income attributable to noncontrolling interests in subsidiaries, acquisition and transaction related costs including integration and severance, non-cash pension and post-retirement benefits and certain other miscellaneous items. (2) Includes all cash dividends and other cash distributions received from our investments.
Table:
 |  |  | Year Ended December 31,
(In thousands, unaudited) | 2019 | 2018 | 2017
Net income (loss) | $ (19,931) | $ (50,571) | $ 65,299
Add (subtract): |  |  | 
Interest expense, net of interest income | 136,660 | 134,578 | 129,786
Income tax benefit | (3,714) | (24,127) | (124,927)
Depreciation and amortization | 381,237 | 432,668 | 291,873
EBITDA | 494,252 | 492,548 | 362,031
Adjustments to EBITDA: |  |  | 
Other, net (1) | (8,847) | 549 | 19,314
Investment distributions (2) | 35,809 | 39,078 | 29,993
Gain on extinguishment of debt | (4,510) | — | —
Non-cash, stock-based compensation | 6,836 | 5,119 | 2,766
Adjusted EBITDA | $ 523,540 | $ 537,294 | $ 414,104


Question: What is the increase/ (decrease) in Net income (loss) from 2018 to 2019?
Answer: 30640
Calculation: -19,931-(-50,571)
7. OTHER BALANCE SHEET AMOUNTS
The components of property and equipment, net is as follows (in thousands):
Depreciation expense for the years ended December 31, 2019, 2018, and 2017 was $11.8 million, $10.2 million, and $10.3 million, respectively.
Table:
 |  | December 31, | 
 | Useful Life | 2019 | 2018
Computer equipment and software | 3 – 5 years | $57,474 | $52,055
Furniture and fixtures | 7 years | 6,096 | 4,367
Leasehold improvements | 2 – 6 years | 22,800 | 9,987
Renovation in progress | n/a | 8 | 1,984
Build-to-suit property | 25 years | — | 51,058
Total property and equipment, gross |  | 86,378 | 119,451
Less: accumulated depreciation and amortization |  | (49,852) | (42,197)
Total property and equipment, net |  | $36,526 | $77,254


Question: What is the change in computer equipment and software between 2018 and 2019?
Answer: 5419
Calculation: ($57,474-$52,055)
Deferred revenue and financed unearned services revenue (in millions):
The following table summarizes the components of our deferred revenue and financed unearned services balance as reported in our consolidated balance sheets (in millions):
Deferred product revenue represents unrecognized revenue related to undelivered product commitments and other product deliveries that have not met all revenue recognition criteria. Deferred services revenue represents customer payments made in advance for services, which include software and hardware maintenance contracts and other services. Financed unearned services revenue represents undelivered services for which cash has been received under certain third-party financing arrangements. See Note 18 – Commitments and Contingencies for additional information related to these arrangements
Table:
 | April 26, 2019 | April 27, 2018
Deferred product revenue | $ 84 | $ 107
Deferred services revenue | 3,502 | 3,134
Financed unearned services revenue | 82 | 122
Total | $ 3,668 | $ 3,363
Reported as: |  | 
Short-term | $ 1,825 | $ 1,712
Long-term | 1,843 | 1,651
Total | $ 3,668 | $ 3,363


Question: What was the change in deferred services revenue between 2018 and 2019?
Answer: 368
Calculation: 3,502-3,134
The employee pension plan mandated by the Labor Standards Act of the R.O.C. is a defined benefit plan. The pension benefits are disbursed based on the units of service years and average monthly salary prior to retirement according to the Labor Standards Act. Two units per year are awarded for the first 15 years of services while one unit per year is awarded after the completion of the 15th year and the total units will not exceed 45 units.
The Company contributes an amount equivalent to 2% of the employees’ total salaries and wages on a monthly basis to the pension fund deposited with the Bank of Taiwan under the name of a pension fund supervisory committee. The pension fund is managed by the government’s designated authorities and therefore is not included in the Company’s consolidated financial statements. For the years ended December 31, 2017, 2018 and 2019, total pension expenses of NT$80 million, NT$69 million and NT$59 million, respectively, were recognized by the Company.
Movements in present value of defined benefit obligation during the year:
Table:
 | For the years ended December 31, | 
 | 2018 | 2019
 | $NT (In Thousands) | $NT (In Thousands)
Defined benefit obligation at beginning of year | $(5,671,058) | $(5,620,509)
Items recognized as profit or loss: |  | 
Service cost | (24,477) | (21,043)
Interest cost | (61,247) | (51,146)
Subtotal | (85,724) | (72,189)
Remeasurements recognized in other comprehensive income (loss): |  | 
Arising from changes in financial assumptions | (91,350) | (114,976)
Experience adjustments | (5,907) | 180,095
Subtotal | (97,257) | 65,119
Benefits paid | 233,530 | 216,510


Question: What percentage of amount is contributed to the company in the pension fund of an employee?
Answer: 2%
Note 10. Intangible Assets and Goodwill
Intangible assets consist of the following (in millions):
Table:
 |  | March 31, 2019 | 
 | Gross Amount | Accumulated Amortization | Net Amount
Core and developed technology | $7,413.0 | $(1,112.9) | $6,300.1
Customer-related | 917.1 | (544.0) | 373.1
In-process research and development | 7.7 | — | 7.7
Distribution rights | 0.3 | (0.2) | 0.1
Other | 7.3 | (2.7) | 4.6
Total | $8,345.4 | $(1,659.8) | $6,685.6


Question: What was the net amount of Core and developed technology assets as a percentage of total intangible assets?
Answer: 94.23
Calculation: 6,300.1/6,685.6
VMware and Pivotal Stock Options
The following table summarizes stock option activity for VMware and Pivotal since February 3, 2017 (shares in thousands):
(1) The weighted-average exercise price of options outstanding as of February 1, 2019 reflects the adjustments to the options as a result of the Special Dividend.
(2) Stock option granted under the VMware equity plan includes 0.6 million options issued for unvested options assumed as part of the Pivotal acquisition.
(3) Stock options forfeited under the Pivotal equity plan includes 6.2 million options converted to VMware options as part of the Pivotal acquisition, using a conversion ratio of 0.1.
(4) Stock options exercised under the Pivotal equity plan includes 22.4 million of vested options that were settled in cash as part of the Pivotal acquisition.
The above table includes stock options granted in conjunction with unvested stock options assumed in business combinations. As a result, the weighted-average exercise price per share may vary from the VMware stock price at time of grant
The stock options outstanding as of January 31, 2020 had an aggregate intrinsic value of $239 million based on VMware’s closing stock price as of January 31, 2020.
Table:
 |  | VMware Stock Options |  | Pivotal Stock Options
 | Number of Shares | Weighted-Average Exercise Price (per share) | Number of Shares | Weighted-Average Exercise Price (per share)
Outstanding, February 3, 2017 | 1,991 | $69.38 | 39,361 | $6.72
Granted | 745 | 13.79 | 20,323 | 9.73
Forfeited | (36) | 55.44 | (2,380) | 8.13
Expired | (3) | 93.87 | (1,290) | 6.24
Exercised | (1,050) | 53.50 | (1,626) | 5.99
Outstanding, February 2, 2018 | 1,647 | 54.63 | 54,388 | 7.82
Granted | 574 | 16.07 | 2,832 | 14.03
Special Dividend adjustment | 348 | n/a | n/a | n/a
Forfeited | (31) | 24.44 | (2,028) | 9.35
Expired | — | — | (273) | 7.02
Exercised | (569) | 46.73 | (9,018) | 6.89
Outstanding, February 1, 2019(1) | 1,969 | 36.50 | 45,901 | 8.31
Granted(2) | 1,571 | 73.19 | — | —
Forfeited(3) | (149) | 52.83 | (10,822) | 10.65
Expired | — | — | (128) | 10.10
Exercised(4) | (776) | 39.94 | (34,951) | 7.59
Outstanding, January 31, 2020 | 2,615 | 56.58 | — | —


Question: How many years did the outstanding Weighted-Average Exercise Price (per share) for VMware stock options exceed $60.00?
Answer: 1
Calculation: 2017
Note 9 – Leases
We have operating leases for office space, automobiles and various other equipment in the U.S. and in certain international locations. We also reviewed other contracts, such as manufacturing agreements and service agreements, for potential embedded leases. We specifically reviewed these other contracts to determine whether we have the right to substantially all of the economic benefit from the use of any specified assets or the right to direct the use of any specified assets, either of which would indicate the existence of a lease.
As of December 31, 2019, our operating leases had remaining lease terms of one month to six years, some of which included options to extend the leases for up to nine years, and some of which included options to terminate the leases within three months. For those leases that are reasonably assured to be renewed, we have included the option to extend as part of our right of use asset and lease liability. Leases with an initial term of 12 months or less were not recorded on the balance sheet and lease expense for these leases is recognized on a straight-line basis over the lease term. Lease expense related to these short-term leases was $0.4 million for the twelve months ended December 31, 2019, and is included in cost of sales, selling, general and administrative expenses and research and development expenses in the Consolidated Statements of Income. Lease expense related to variable lease payments that do not depend on an index or rate, such as real estate taxes and insurance reimbursements, was $0.9 million for the twelve months ended December 31, 2019. For lease agreements entered into or reassessed after the adoption of Topic 842, we elected to not separate lease and nonlease components. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants.
Supplemental balance sheet information related to operating leases is as follows:
(1) Reflects the adoption of the new lease accounting standard on January 1, 2019.
Table:
(In thousands) | Classification | December 31, 2019 | January 1, 2019 (1)
Assets |  |  | 
Right of use lease assets | Other Assets | $8,452 | $10,322
Total lease asset |  | $8,452 | $10,322
Liabilities |  |  | 
Current lease liability | Accrued expenses | $2,676 | $2,948
Non-current lease liability | Other non-current liabilities | 5,818 | 7,374
Total lease liability |  | $8,494 | $10,322


Question: What was the percentage change in total lease liability between January and December?
Answer: -17.71
Calculation: ($8,494-$10,322)/$10,322
The following table summarizes the activity related to stock options during the year ended December 31, 2019
As of December 31, 2019, the Company had $1,641 of unrecognized stock-based compensation expense related to the stock options. This cost is expected to be recognized over a weighted-average period of 2.5 years.
(Dollars in thousands, except per share amounts)
Table:
 | Number of Shares | Weighted-Average Exercise Price | Weighted Average Remaining Contractual Life (in years) | Aggregated Intrinsic Value (in thousands)
Stock options outstanding - December 31, 2018 | - | - - |  | 
Granted | 5,835,724 | $0.56 |  | 
Forfeited or expired | (20,000) | $0.55 |  | 
Stock options outstanding - December 31, 2019 | 5,815,724 | $0.56 | 9.6 years | $2,725
Stock options exercisable - December 31, 2019 | 137,500 | $0.55 | 9.6 years | $66


Question: What are the weighted-average exercise price of the stock options outstanding and exercisable at December 31, 2019?
Answer: $0.56, $0.55
The components of the provision for income tax expense are as follows:
Included in the Company's current income tax expense are provisions for uncertain tax positions relating to freight taxes. The Company does not presently anticipate that its provisions for these uncertain tax positions will significantly increase in the next 12 months; however, this is dependent on the jurisdictions of the trading activity of its vessels.
The Company reviews its freight tax obligations on a regular basis and may update its assessment of its tax positions based on available information at the time. Such information may include legal advice as to the applicability of freight taxes in relevant jurisdictions. Freight tax regulations are subject to change and interpretation; therefore, the amounts recorded by the Company may change accordingly. The tax years 2008 through 2019 remain open to examination by some of the major jurisdictions in which the Company is subject to tax.
Table:
 | Year Ended | Year Ended | Year Ended
 | December 31, | December 31, | December 31,
 | 2019 | 2018 | 2017
 | $ | $ | $
Current | (25,563) | (17,458) | (11,997)
Deferred | 81 | (2,266) | (235)
Income tax expense | (25,482) | (19,724) | (12,232)


Question: Which tax years are open to examination by jurisdictions?
Answer: The tax years 2008 through 2019 remain open to examination by some of the major jurisdictions in which the Company is subject to tax.
Australian taxes paid summary
Tax payments made by iSelect for the 2019 and 2018 financial years are summarised below.
Table:
 | CONSOLIDATED | 2018
 | 2019 $'000 | 2018 $’000
Income tax (net of refund) | (2,327) | 172
Payroll tax | 2,657 | 3,035
Fringe benefits tax | 205 | 247
Total taxes paid | 535 | 3,454


Question: What is the percentage change in the fringe benefits tax from 2018 to 2019?
Answer: -17
Calculation: (205-247)/247
The Company’s pension plan asset allocation at December 31, 2019 and at December 31, 2018 is as follows:
As of December 31, 2019, investments in funds were composed of commingled and multi-strategy funds invested in diversified portfolios of corporate bonds (37%), government bonds (32%), equity (15%) and other instruments (16%).
As of December 31, 2018, investments in funds were composed approximately for two thirds of commingled funds mainly invested in corporate bonds (55%) and treasury bonds and notes (45%) and for one third of multi-strategy funds invested in broadly diversified portfolios of
corporate and government bonds, equity and derivative instruments.
Table:
 | Percentage of Plan Assets at December | 
Asset Category | 2019 | 2018
Cash and cash equivalents | 1% | 2%
Equity securities | 24% | 27%
Government debt securities | 12% | 3%
Corporate debt securities | 16% | 26%
Investments in funds(a) | 21% | 17%
Real estate | 2% | 3%
Other (mainly insurance assets – contracts and reserves) | 24% | 22%
Total | 100% | 100%


Question: What was the percentage of investment in treasury bonds and notes in 2018?
Answer: 45%
Stock option and stock appreciation right (SAR) activity under the Company's stock incentive plans in the three years ended March 31, 2019 is set forth below:
The total intrinsic value of options and SARs exercised during the years ended March 31, 2019, 2018 and 2017 was $8.3 million, $7.4 million and $9.6 million, respectively. This intrinsic value represents the difference between the fair market value of the Company's common stock on the date of exercise and the exercise price of each equity award.
The aggregate intrinsic value of options and SARs outstanding at March 31, 2019 was $14.9 million. The aggregate intrinsic value of options and SARS exercisable at March 31, 2019 was $14.8 million. The aggregate intrinsic values were calculated based on the closing price of the Company's common stock of $82.96 per share on March 29, 2019.
As of March 31, 2019 and March 31, 2018, the number of option and SAR shares exercisable was 278,591 and 224,022, respectively, and the weighted average exercise price per share was $30.03 and $29.96, respectively.
There were no stock options granted in the years ended March 31, 2019, 2018 and 2017
Table:
 | Number of Shares | Weighted Average Exercise Price per Share
Outstanding at March 31, 2016 | 913,508 | $33.00
Exercised | (437,906) | 34.34
Forfeited or expired | (42,485) | 34.26
Outstanding at March 31, 2017 | 433,117 | 31.51
Exercised | (131,666) | 31.75
Forfeited or expired | (17,111) | 34.73
Outstanding at March 31, 2018 | 284,340 | 31.21
Assumed upon acquisition | 141,751 | 25.86
Exercised | (140,118) | 27.67
Forfeited or expired | (4,091) | 39.62
Outstanding at March 31, 2019 | 281,882 | $30.16


Question: How many years did the outstanding number of shares exceed 500,000?
Answer: 1
Calculation: 2016
Sales and Marketing
Sales and marketing expenses in 2019 decreased by $7.6 million, or 32%, as compared to 2018. This decrease was primarily due to a reduction in the global sales support and marketing headcount, including reductions that were part of our restructuring activities during 2019 (refer to Note 4 of the accompanying consolidated financial statements), contributing to net decreases of $4.8 million in personnel-related costs, and $1.0 million in allocated facilities and information technology costs as compared to 2018. Restructuring costs in 2019 decreased $0.4 million, as there were additional restructuring activities in 2018, including a headcount reduction of approximately 13% of our workforce and the closure of certain leased facilities. The remaining decrease during 2019 was primarily the result of lower marketing costs of $0.6 million, as we eliminated or shifted the timing of certain of our marketing activities.
Table:
 | Years Ended December 31, |  | Change | 
 | 2019 | 2018 | $ | %
 | (dollars in thousands) |  |  | 
Sales and marketing | $15,836 | $23,425 | $(7,589) | (32)%
Percent of revenues, net | 32% | 40% |  | 


Question: What is the value of the change in 2018 and 2019's sales and marketing expenses as a percentage of the 2019 sales and marketing expenses?
Answer: 47.92
Calculation: 7,589/15,836
6.1 Net debt
(1) 50% of outstanding preferred shares of $4,004 million in 2019 and 2018 are classified as debt consistent with the treatment by some credit rating agencies.
The increase of $1,891 million in total debt, comprised of debt due within one year and long-term debt, was due to: • an increase in our lease liabilities of $2,304 million as a result of the adoption of IFRS 16 on January 1, 2019 • the issuance by Bell Canada of Series M-49 and Series M-50 MTN debentures with total principal amounts of $600  million and $550 million in Canadian dollars, respectively, and Series US-2 Notes with a total principal amount of $600 million in U.S. dollars ($808 million in Canadian dollars) • an increase in our securitized trade receivables of $131 million
Partly offset by: • the early redemption of Series M-27 MTN debentures and Series M-37 debentures with total principal amounts of $1 billion and $400 million, respectively • a decrease in our notes payable (net of issuances) of $1,073 million • a net decrease of $29 million in our lease liabilities and other debt
The decrease in cash and cash equivalents of $280 million was due mainly to: • $2,819 million of dividends paid on BCE common shares • $1,216 million of debt repayments (net of issuances) • $142 million paid for the purchase on the open market of BCE common shares for the settlement of share-based payments • $60 million acquisition and other costs paid
Partly offset by: • $3,818 million of free cash flow • $240 million issuance of common shares from the exercise of stock options
Table:
 | 2019 | 2018 | $ CHANGE | % CHANGE
Debt due within one year | 3,881 | 4,645 | (764) | (16.4%)
Long-term debt | 22,415 | 19,760 | 2,655 | 13.4%
Preferred shares (1) | 2,002 | 2,002 | – | –
Cash and cash equivalents | (145) | (425) | 280 | 65.9%
Net debt | 28,153 | 25,982 | 2,171 | 8.4%


Question: What is the Debt due within one year expressed as a ratio of Long-term debt for 2019?
Answer: 0.17
Calculation: 3,881/22,415
Deferred taxes are provided on a liability method whereby deferred tax assets are recognized for deductible differences and operating loss and tax credit carry-forwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the difference between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.
At December 31, 2019, the Company had net operating loss carry-forwards of approximately $21.6 million that may be offset against future taxable income indefinitely. No tax benefit has been reported in the 2019 financial statements, since the potential tax benefit is offset by a valuation allowance of the same amount.
Net deferred tax assets consist of the following components as of December 31, 2019 and 2018:
Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry-forwards for federal income tax reporting purposes are subject to annual limitations. Should a change in ownership occur, net operating loss carry-forwards may be limited as to use in future years.
Table:
 | 2019 | 2018
Deferred tax assets (liabilities): |  | 
NOL carryover | $5,910 | $3,370
R&D carryover | 173 | 173
Other | 236 | 239
Depreciation | 42 | 61
 | 6,361 | 3,843
Less valuation allowance | (6,361) | (3,843)
Net deferred tax asset | $- | $-


Question: How are deferred tax assets and liabilities adjusted?
Answer: adjusted for the effects of changes in tax laws and rates on the date of enactment