hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
NOTE E – PROPERTY AND EQUIPMENT
The Company’s property and equipment as of December 31, 2019 and 2018 consists of the following:
Depreciation and amortization expense included as a charge to income was $66,082 and $67,107 for the years ended December 31, 2019 and 2018, respectively.
Table:
 | 2019 | 2018
Development test equipment | $16,461 | $19,110
Computer software | 76,134 | 76,134
Office equipment | 66,685 | 61,367
Office fixtures and furniture | 330,568 | 330,568
Leasehold improvements | 18,016 | 18,016
Total | 507,864 | 505,195
Accumulated depreciation and amortization | (321,339) | (257,906)
Total property and equipment | 186,525 | $247,289


Question: What is the depreciation and amortization expenses for the year ended December 31, 2019?
Answer: $66,082
OFF-BALANCE SHEET ARRANGEMENTS AND CONTRACTUAL OBLIGATIONS
At June 30, 2019, the Company’s total off-balance sheet contractual obligations were $665,107. This balance consists of $71,633 of long-term operating leases for various facilities and equipment which expire from 2020 to 2030 and $593,474 of purchase commitments. In fiscal 2017, JHA entered a strategic services agreement with First Data® and PSCU® to provide full-service debit and credit card processing on a single platform to all existing core bank and credit union customers, as well as expand its card processing platform to financial institutions outside our core customer base. This agreement includes a purchase commitment of $555,754 over the remaining term of the contract. The remainder of the purchase commitments relate mainly to open purchase orders. The contractual obligations table below excludes $12,009 of liabilities for uncertain tax positions as we are unable to reasonably estimate the ultimate amount or timing of settlement.
The operating lease obligations included on this table will be recorded on the balance sheet beginning in fiscal 2020 due to the Company’s adoption of ASU No. 2016-02, issued by the FASB in February 2016 and effective for the Company on July 1, 2019.
Table:
Contractual obligations by period as of June 30, 2019 | Less than 1 year | 1-3 years | 3-5 years | More than 5 years | TOTAL
Operating lease obligations | $15,559 | $25,399 | $19,004 | $11,671 | $71,633
Purchase obligations | 62,637 | 86,875 | 107,188 | 336,774 | 593,474
Total | $78,196 | $112,274 | $126,192 | $348,445 | $665,107


Question: What are the 2 financial items shown in the table?
Answer: Operating lease obligations, Purchase obligations
selling , general , and administrative expenses selling , general , and administrative expenses increased to $ 65.2 million in 2010 from $ 52.9 million in 2009 due primarily to increases in compensation expense and recruitment costs , principally in connection with higher headcount in 2010 , and an increase in non-cash compensation expense for the reasons described above . cost of goods sold cost of goods sold in 2010 and 2009 was $ 2.1 million and $ 1.7 million , respectively , and consisted primarily of royalties and other period costs related to arcalyst ae commercial supplies . to date , arcalyst ae shipments to our customers have primarily consisted of supplies of inventory manufactured and expensed as research and development costs prior to fda approval in 2008 ; therefore , the costs of these supplies were not included in costs of goods sold . other income and expense investment income decreased to $ 2.1 million in 2010 from $ 4.5 million in 2009 , due primarily to lower yields on , and lower average balances of , cash and marketable securities . interest expense increased to $ 9.1 million in 2010 from $ 2.3 million in 2009 . interest expense is primarily attributable to the imputed interest portion of payments to our landlord , commencing in the third quarter of 2009 , to lease newly constructed laboratory and office facilities in tarrytown , new york . income tax expense ( benefit ) in 2010 , we did not recognize any income tax expense or benefit . in 2009 , we recognized a $ 4.1 million income tax benefit , consisting primarily of ( i ) $ 2.7 million resulting from a provision in the worker , homeownership , and business assistance act of 2009 that allowed us to claim a refund of u.s . federal alternative minimum tax that we paid in 2008 , and ( ii ) $ 0.7 million resulting from a provision in the american recovery and reinvestment act of 2009 that allowed us to claim a refund for a portion of our unused pre-2006 research tax credits . years ended december 31 , 2009 and 2008 net loss regeneron reported a net loss of $ 67.8 million , or $ 0.85 per share ( basic and diluted ) , for the year ended december 31 , 2009 , compared to a net loss of $ 79.1 million , or $ 1.00 per share ( basic and diluted ) for 2008 . the decrease in our net loss in 2009 was principally due to higher collaboration revenue in connection with our antibody collaboration with sanofi-aventis , receipt of a $ 20.0 million substantive performance milestone payment in connection with our vegf trap-eye collaboration with bayer healthcare , and higher arcalyst ae sales , partly offset by higher research and development expenses , as detailed below . revenues revenues in 2009 and 2008 consist of the following: .

Table:
( in millions ) | 2009 | 2008
collaboration revenue |  | 
sanofi-aventis | $ 247.2 | $ 154.0
bayer healthcare | 67.3 | 31.2
total collaboration revenue | 314.5 | 185.2
technology licensing revenue | 40.0 | 40.0
net product sales | 18.4 | 6.3
contract research and other revenue | 6.4 | 7.0
total revenue | $ 379.3 | $ 238.5
.

Question: what percentage of total revenue was bayer healthcare in 2009?
Answer: 18%
Calculation: divide(67.3, 379.3)
Interest and Other Expense, Net
The following table sets forth the components of interest and other expense, net:
Interest and other expense, net, positively changed by $30.5 million during fiscal 2019, as compared to fiscal 2018, primarily driven by curtailment gains on our pension plans, mark-to-market gains on certain of our privately-held strategic investments, realized gains on sales of strategic investments, offset by an increase in interest expense resulting from our term loan entered into on December 17, 2018 in aggregate principal amount of $500 million and mark-to-market losses on marketable securities.
Interest and other expense, net, increased $24.0 million during fiscal 2018, as compared to fiscal 2017, primarily related to increases in impairment losses on certain of our privately-held strategic investments and interest expense resulting from our June 2017 issuance of $500.0 million aggregate principal amount of 3.5% notes due June 15, 2027.
Interest expense and investment income fluctuates based on average cash, marketable securities and debt balances, average maturities and interest rates.
Gains and losses on foreign currency are primarily due to the impact of re-measuring foreign currency transactions and net monetary assets into the functional currency of the corresponding entity. The amount of the gain or loss on foreign currency is driven by the volume of foreign currency transactions and the foreign currency exchange rates for the year
Table:
 |  | Fiscal year ended January 31, | 
 | 2019 | 2018 | 2017
 |  | (in millions) | 
Interest and investment expense, net | $(52.1) | $(34.5) | $(29.7)
Gain (loss) on foreign currency | 5.1 | (3.3) | (3.3)
Gain (loss) on strategic investments | 12.5 | (16.4) | 0.3
Other income | 16.8 | 6.0 | 8.5
Interest and other expense, net | $(17.7) | $(48.2) | $(24.2)


Question: Why was there a loss in strategic investments in 2018 compared to 2017?
Answer: Impairment losses
NOTE 15 – INCOME TAXES
As of December 31, 2019, the Company had net operating loss carry-forwards for federal income tax purposes of approximately $18.3 million, consisting of pre-2018 losses in the amount of approximately $14.3 million that expire from 2020 through 2037, and post-2017 losses in the amount of approximately $4 million that never expire. These net operating losses are available to offset future taxable income. The Company was formed in 2006 as a limited liability company and changed to a corporation in 2007. Activity prior to incorporation is not reflected in the Company’s corporate tax returns. In the future, the cumulative net operating loss carry-forward for income tax purposes may differ from the cumulative financial statement loss due to timing differences between book and tax reporting.
The provision for Federal income tax consists of the following for the years ended December 31, 2019 and 2018:
The provision for Federal income tax consists of the following for the years ended December 31, 2019 and 2018:
Table:
 | 2019 | 2018
Federal income tax benefit (expense) attributable to:         |  | 
Current operations  | $848,000 | $(48,000)
Acquisition costs   | (143,000) | -
Change in fair value of contingent consideration   | (133,000) | -
Other permanent items   | 29,000 | (36,000)
Deferred Adjustment   | (913,000) | -
Valuation allowance   | 1,209,960 | 84,000
Net provision for federal income tax  | $897,960 | $-


Question: How much was the net operating loss carry-forwards for federal income tax purposes as of December 31, 2019?
Answer: approximately $18.3 million
Contributions and Direct Benefit Payments
It is the company’s general practice to fund amounts for pensions sufficient to meet the minimum requirements set forth in applicable employee benefits laws and local tax laws. From time to time, the company contributes additional amounts as it deems appropriate.
The following table presents the contributions made to the non-U.S. DB plans, non pension postretirement benefit plans, multi-employer plans, DC plans and direct payments for 2019 and 2018. The cash contributions to the multi-employer plans represent the annual cost included in the net periodic (income)/ cost recognized in the Consolidated Income Statement. The company’s participation in multi-employer plans has no material impact on the company’s financial statements.
In 2019 and 2018, $635 million and $598 million, respectively, was contributed in U.S. Treasury securities, which is considered a non-cash transaction (includes the Active Medical Trust).
Table:
($ in millions) |  | 
For the year ended December 31: | 2019 | 2018
Non-U.S. DB plans | $  243 | $  325
Non pension postretirement benefit plans | 304 | 335
Multi-employer plans | 32 | 38
DC plans | 1,040 | 1,024
Direct benefit payments | 559 | 567
Total | $2,177 | $2,288


Question: Contribution to US Treasury is considered what kind of a transaction?
Answer: non-cash transaction
EXPLANATORY INFORMATION
For the years ended December 31, 2019 and 2018, accounting for outstanding share-based payments using the equity-settled method for stock-based compensation was determined to be more dilutive than using the cash-settled method. As a result, net income for the year ended December 31, 2019 was reduced by $6 million (2018 – $2 million) in the diluted earnings per share calculation.
For the year ended December 31, 2019, there were 1,077,875 options out of the money (2018 – 37,715) for purposes of the calculation of earnings per share. These options were excluded from the calculation of the effect of dilutive securities because they were anti-dilutive.
Table:
 | Years ended December 31 | 
(In millions of dollars, except per share amounts) | 2019 | 2018
Numerator (basic) – Net income for the year | 2,043 | 2,059
Denominator – Number of shares (in millions): Weighted average number of shares outstanding – basic | 512 | 515
Effect of dilutive securities (in millions): Employee stock options and restricted share units | 1 | 1
Weighted average number of shares outstanding – diluted | 513 | 516
Earnings per share: |  | 
Basic | $3.99 | $4.00
Diluted | $3.97 | $3.99


Question: What is the increase/ (decrease) in Numerator (basic) – Net income from 2018 to 2019?
Answer: -16
Calculation: 2,043-2,059
.

Table:
years ended december 31 | 2018 | 2017 | 2016
statutory tax rate | 19.0% ( 19.0 % ) | 19.3% ( 19.3 % ) | 20.0% ( 20.0 % )
u.s . state income taxes net of u.s . federal benefit | -0.4 ( 0.4 ) | -1.5 ( 1.5 ) | 0.4
taxes on international operations ( 1 ) | -7.3 ( 7.3 ) | -30.3 ( 30.3 ) | -12.2 ( 12.2 )
nondeductible expenses | 2.7 | 3.4 | 1.4
adjustments to prior year tax requirements | 0.9 | 2.0 | -1.2 ( 1.2 )
adjustments to valuation allowances | 3.8 | -1.8 ( 1.8 ) | -2.2 ( 2.2 )
change in uncertain tax positions | 0.9 | 1.6 | 3.2
excess tax benefits related to shared based compensation ( 2 ) | -3.6 ( 3.6 ) | -8.0 ( 8.0 ) | 2014
u.s . tax reform impact ( 3 ) | 7.1 | 51.2 | 2014
loss on disposition | -10.2 ( 10.2 ) | 2014 | 2014
other 2014 net | -1.2 ( 1.2 ) | 0.6 | 1.2
effective tax rate | 11.7% ( 11.7 % ) | 36.5% ( 36.5 % ) | 10.6% ( 10.6 % )
( 1 ) the company determines the adjustment for taxes on international operations based on the difference between the statutory tax rate applicable to earnings in each foreign jurisdiction and the enacted rate of 19.0% ( 19.0 % ) , 19.3% ( 19.3 % ) and 20.0% ( 20.0 % ) at december 31 , 2018 , 2017 , and 2016 , respectively .
the benefit to the company 2019s effective income tax rate from taxes on international operations relates to benefits from lower-taxed global operations , primarily due to the use of global funding structures and the tax holiday in singapore .
the impact decreased from 2017 to 2018 primarily as a result of the decrease in the u.s .
federal tax ( 2 ) with the adoption of asu 2016-09 in 2017 , excess tax benefits and deficiencies from share-based payment transactions are recognized as income tax expense or benefit in the company 2019s consolidated statements of income .
( 3 ) the impact of the tax reform act including the transition tax , the re-measurement of u.s .
deferred tax assets and liabilities from 35% ( 35 % ) to 21% ( 21 % ) , withholding tax accruals , and the allocation of tax benefit between continuing operations and discontinued operations related to utilization of foreign tax credits. .

Question: what is the difference between the statutory tax rate and the effective tax rate for international operations in 2018?
Answer: 17.2%
Calculation: subtract(36.5%, 19.3%)
The Company’s estimated future benefit payments as of December 31, 2019 are as follows:
The Company has certain defined contribution plans, which accrue benefits for employees on a pro-rata basis during their employment period based on their individual salaries. The Company’s accrued benefits related to defined contribution pension plans of $20 million as of December 31, 2019 and $18 million as of December 31, 2018. The annual cost of these plans amounted to approximately $86 million in 2019, $84 million in 2018 and $77 million in 2017.
Table:
Years | Pension Benefits | Other Long Term Benefits
2020 | 32 | 7
2021 | 29 | 7
2022 | 32 | 5
2023 | 41 | 6
2024 | 51 | 9
From 2025 to 2029 | 272 | 35


Question: What is the average benefit payments for 2022 to 2023?
Answer: 36.5
Calculation: (32+41) / 2
Commitments and Significant Contractual Obligations
The following table summarizes our contractual obligations and commercial commitments at December 27, 2019:
(1) Interest on our various outstanding debt instruments is included in the above table, except for our Term Loan and ABL, which have floating interest rates. At December 27, 2019, we had borrowings of $238.1 million under our Term Loan and zero under our ABL. During the fiscal year ended December 27, 2019, the weighted average interest rate on our Term Loan was approximately 5.8% and we incurred interest expense of approximately $13.9 million. During the fiscal year ended December 27, 2019, the weighted average interest rate on our ABL borrowings was approximately 3.7% and we incurred interest expense of approximately $1.6 million. See Note 9 “Debt Obligations” to our consolidated financial statements for further information on our debt instruments.
(2) The table above excludes cash to be paid for income taxes, $14.7 million of total contingent earn-out liabilities related to certain acquisitions as of December 27, 2019 and approximately $5.3 million of lease payments related to long-term leases for several vehicles and a distribution and processing facility that do not commence until fiscal 2020.
We had outstanding letters of credit of approximately $16.6 million and $15.8 million at December 27, 2019 and December 28, 2018, respectively. Substantially all of our assets are pledged as collateral to secure our borrowings under our credit facilities.
Table:
 |  |  | Payments Due by Period (1, 2) |  | 
 | Total  | Less than One Year | 1-3 Years | 4-5 Years | Thereafter
 |  |  | (In thousands) |  | 
Inventory purchase commitments | $53,413 | $53,413 | $— | $— | $—
Indebtedness | $406,644 | $2,993 | $244,151 | $159,500 | $—
Finance lease obligations  | $4,597 | $880 | $1,715 | $1,392 | $610
Pension exit liabilities  | $2,169 | $149 | $329 | $375 | $1,316
Long-term operating leases  | $197,359 | $25,662 | $43,130 | $30,080 | $98,487
Total  | $664,182 | $83,097 | $289,325 | $191,347 | $100,413


Question: What is the percentage constitution of total inventory purchase commitments among the total contractual obligations?
Answer: 8.04
Calculation: 53,413/664,182
The operating expense line items in our income statement include the following share-based payment expenses:
Share-Based Payment Expenses by Functional Area
In 2019, we paid €79 million in share-based payments that became fully vested because of terminations due to operational reasons in connection with our restructuring plan. These payments as well as the expense portion initially allocated to future services were classified as share-based payments and not as restructuring expenses.
Table:
€ millions | 2019 | 2018 | 2017
Cost of cloud and software | 138 | 78 | 115
Cost of services | 246 | 142 | 158
Research and development | 429 | 210 | 269
Sales and marketing | 562 | 312 | 442
General and administration | 461 | 88 | 135
Share-based payment expenses | 1,835 | 830 | 1,120
Thereof cash-settled share-based payments | 1,664 | 674 | 963
Thereof equity-settled share-based payments | 171 | 156 | 157


Question: Why did the €79 million in share-based payments become fully vested?
Answer: because of terminations due to operational reasons in connection with our restructuring plan. These payments as well as the expense portion initially allocated to future services were classified as share-based payments and not as restructuring expenses.
Selected financial data
Unaudited information
The selected financial data shown below include the results of Vodafone India as discontinued operations in all years following the agreement to combine it with Idea Cellular.
Notes: 1 See note 8 to the consolidated financial statements, “Earnings per share”. Earnings and dividends per ADS is calculated by multiplying earnings per ordinary share by ten, the number of ordinary shares per ADS.
2 On 19 February 2014, we announced a “6 for 11” share consolidation effective 24 February 2014. This had the effect of reducing the number of shares in issue from 52,821,751,216 ordinary shares (including 4,351,833,492 ordinary shares held in Treasury) as at the close of business on 18 February 2014 to 28,811,864,298 new ordinary shares in issue immediately after the share consolidation on 24 February 2014.
3 The final dividend for the year ended 31 March 2019 was proposed by the Directors on 14 May 2019 and is payable on 2 August 2019 to holders of record as of 7 June 2019. The total dividends have been translated into US dollars at 31 March 2019 for purposes of the above disclosure but the dividends are payable in US dollars under the terms of the ADS depositary agreement.
Table:
At/for the year ended 31 March | 2019 | 2018 | 2017 | 2016 | 2015
Consolidated income statement data (€m) |  |  |  |  | 
Revenue | 43,666 | 46,571 | 47,631 | 49,810 | 48,385
Operating (loss)/profit | (951) | 4,299 | 3,725 | 1,320 | 2,073
(Loss)/profit before taxation | (2,613) | 3,878 | 2,792 | (190) | 1,734
(Loss)/profit for financial year from continuing operations | (4,109) | 4,757 | (1,972) | (5,127) | 7,805
(Loss)/profit for the financial year | (7,644) | 2,788 | (6,079) | (5,122) | 7,477
Consolidated statement of financial position data (€m) |  |  |  |  | 
Total assets | 142,862 | 145,611 | 154,684 | 169,107 | 169,579
Total equity | 63,445 | 68,607 | 73,719 | 85,136 | 93,708
Total equity shareholders’ funds | 62,218 | 67,640 | 72,200 | 83,325 | 91,510
Earnings per share1,2 |  |  |  |  | 
Weighted average number of shares (millions) |  |  |  |  | 
– Basic | 27,607 | 27,770 | 27,971 | 26,692 | 26,489
– Diluted | 27,607 | 27,857 | 27,971 | 26,692 | 26,629
Basic (loss)/earnings per ordinary share | (29.05)c | 8.78c | (22.51)c | (20.25)c | 27.48c
Diluted (loss)/earnings per ordinary share | (29.05)c | 8.76c | (22.51)c | (20.25)c | 27.33c
Basic (loss)/earnings per share from continuing operations | (16.25)c | 15.87c | (7.83)c | (20.27)c | 28.72c
Cash dividends1,3 |  |  |  |  | 
Amount per ordinary share (eurocents) | 9.00c | 15.07c | 14.77c | – | –
Amount per ADS (eurocents) | 9.00c | 15.07c | 147.7c | – | –
Amount per ordinary share (pence) | – | – | – | 11.45p | 11.22p
Amount per ADS (pence) | – | – | – | 114.5p | 111.2p
Amount per ordinary share (US cents) | 10.10c | 17.93c | 18.52c | 16.49c | 16.65c
Amount per ADS (US cents) | 10.10c | 179.3c | 182.5c | 164.9c | 166.5c


Question: Which financial years' information is shown in the table?
Answer: 2015, 2016, 2017, 2018, 2019
Our net sales by market sector for the indicated fiscal years were as follows (in millions):
Healthcare/Life Sciences. Net sales for fiscal 2019 in the Healthcare/Life Sciences sector increased $180.1 million, or 17.3%, as compared to fiscal 2018. The increase was driven by overall net increased customer end-market demand, a $32.7 million increase in production ramps of new products for existing customers and a $26.9 million increase in production ramps for new customers.
Industrial/Commercial. Net sales for fiscal 2019 in the Industrial/Commercial sector increased $63.5 million, or 6.9%, as compared to fiscal 2018. The increase was driven by a $64.8 million increase in production ramps of new products for existing customers and a $33.2 million increase in production ramps for new customers. The increase was partially offset by a $7.3 million decrease due to end-of-life products, a $4.2 million decrease due to a disengagement with a customer and overall net decreased customer end-market demand.
Aerospace/Defense. Net sales for fiscal 2019 in the Aerospace/Defense sector increased $143.5 million, or 32.2%, as compared to fiscal 2018. The increase was driven by a $120.2 million increase in production ramps of new products for existing customers, a $9.9 million increase in production ramps for new customers and overall net increased customer end-market demand.
Communications. Net sales for fiscal 2019 in the Communications sector decreased $96.2 million, or 20.4%, as compared to fiscal 2018. The decrease was driven by a $37.3 million reduction due to disengagements with customers, a $15.3 million decrease due to end-of-life products and overall net decreased customer endmarket demand. The decrease was partially offset by an $18.1 million increase in production ramps of new products for existing customers and a $4.5 million increase in production ramps for new customers.
Table:
Market Sector  | 2019 | 2018
Healthcare/Life Sciences  | $1,220.0 | $1,039.9
Industrial/Commercial  | 981.2 | 917.7
Aerospace/Defense  | 588.6 | 445.1
Communications  | 374.6 | 470.8
Total net sales | 3,164.4 | 2,873.5


Question: What was the net sales in the aerospace/defense sector in 2018?
Answer: 445.1