hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
30. EMPLOYEE BENEFIT PLANS (cont.)
The above sensitivities are hypothetical and should be used with caution. Changes in amounts based on a one percent variation in assumptions generally cannot be extrapolated because the relationship of the change in assumption to the change in amounts may not be linear. The sensitivities have been calculated independently of changes in other key variables. Changes in one factor may result in changes in another, which could amplify or reduce certain sensitivities.
The Company expects to make contributions of $5.1 million to the defined benefit plans and $0.6 million to the defined contribution plan of Telesat Canada during the next fiscal year.
Table:
 | Pension |  | Other | 
As at December 31, 2018 | 1% increase | 1% decrease | 1% increase | 1% decrease
Discount rate | $(39,145) | $49,361 | $(2,471) | $3,224
Future salary growth | $7,572 | $(6,919) | N/A | N/A
Medical and dental trend rates | N/A | N/A | $1,703 | $(1,280)


Question: What is the difference in pension amount if the discount rate had a 1% increase and a 1% decrease?
Answer: 88506
Calculation: 49,361 - (39,145)
Fees Paid to our Independent Auditor
The following table sets forth the fees billed to us by Ernst & Young LLP for services in fiscal 2019 and 2018, all of which
were pre-approved by the Audit Committee.
(1) In accordance with the SEC’s definitions and rules, “audit fees” are fees that were billed to Systemax by Ernst & Young LLP for
the audit of our annual financial statements, to be included in the Form 10-K, and review of financial statements included in the
Form 10-Qs; for the audit of our internal control over financial reporting with the objective of obtaining reasonable assurance about
whether effective internal control over financial reporting was maintained in all material respects; for the attestation of management’s
report on the effectiveness of internal control over financial reporting; and for services that are normally provided by the auditor
in connection with statutory and regulatory filings or engagements.
(2) “Audit-related fees” are fees for assurance and related services that are reasonably related to the performance of the audit or
review of our financial statements and internal control over financial reporting, including services in connection with assisting
Systemax in our compliance with our obligations under Section 404 of the Sarbanes-Oxley Act and related regulations.
(3) Ernst & Young LLP did not provide any professional services for tax compliance, planning or advice in 2019 or 2018.
(4) Consists of fees billed for other professional services rendered to Systemax.
Table:
Fee Category | 2019 ($) | 2018 ($)
Audit fees (1) | 1,196,000 | 1,257,000
Audit-related fees (2) | 0 | 15,000
Tax fees (3) | 0 | 0
All other fees (4) | 2,000 | 2,000
Total | 1,198,000 | 1,274,000


Question: What are the all other fees incurred by the company in 2018 and 2019?
Answer: 2,000, 2,000
Shares Reserved for Issuance
The following are shares reserved for issuance (in thousands):
Table:
 | June 30,
2019 | June 30,
2018
2013 Equity Incentive Plan shares available for grant | 8,462 | 9,957
Employee stock options and awards outstanding | 10,455 | 12,060
2014 Employee Stock Purchase Plan | 10,085 | 5,365
Total shares reserved for issuance | 29,002 | 27,382


Question: What was the amount of Total shares reserved for issuance in 2019?
Answer: 29,002
Discontinued Operations
In December 2015, we completed the wind down of engineering, manufacturing and sales of our solar inverter product line (the "inverter business"). Accordingly, the results of our inverter business have been reflected as “Income (loss) from discontinued operations, net of income taxes” on our Consolidated Statements of Operations for all periods presented herein.
The effect of our sales of extended inverter warranties to our customers continues to be reflected in deferred revenue in our Consolidated Balance Sheets. Deferred revenue for extended inverter warranties and the associated costs of warranty service will be reflected in Sales and Cost of goods sold, respectively, from continuing operations in future periods in our Consolidated Statement of Operations, as the deferred revenue, is earned and the associated services are rendered. Extended warranties related to the inverter product line are no longer offered.
ADVANCED ENERGY INDUSTRIES, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (continued) (in thousands, except per share amounts)
The significant items included in "Income (loss) from discontinued operations, net of income taxes" are as follows:
Table:
 | Years Ended December 31, | 
 | 2019 | 2018
Sales | $  — | $  —
Cost of sales | (901) | (88)
Total operating expense | 1,022 | 96
Operating income (loss) from discontinued operations | (121) | (8)
Other income (expense) | 10,895 | (24)
Income (loss) from discontinued operations before income taxes | 10,774 | (32)
Provision (benefit) for income taxes | 2,294 | 6
Income (loss) from discontinued operations, net of income taxes | $8,480 | $(38)


Question: What was the percentage change in Cost of sales between 2018 and 2019?
Answer: 923.86
Calculation: (-901-(-88))/-88
Interest and Other Income (Loss), Net
Interest Income (Expense), Net The following table summarizes interest income and interest expense (in millions):
Interest income decreased, driven by a decrease in the average balance of cash and available-for-sale debt investments. The decrease in interest expense was driven by a lower average debt balance, partially offset by the impact of higher effective interest rates.
Table:
 |  | Years Ended |  | 2019 vs. 2018
 | July 27, 2019 | July 28, 2018 | July 29, 2017 | Variance in Dollars
Interest income | $1,308 | $1,508 | $1,338 | $(200)
Interest expense | (859) | (943) | (861) | 84
Interest income (expense), net | $449 | $565 | $477 | $(116)


Question: What was the change in Interest expense between 2017 and 2018?
Answer: -82
Calculation: -943-(-861)
ASSUMPTIONS USED IN STOCK OPTION PRICING MODEL
The fair value of options granted was determined using a variation of a binomial option pricing model that takes into account factors specific to the share incentive plans, such as the vesting period. The following table shows the principal assumptions used in the valuation.
Expected dividend growth is commensurate with BCE’s dividend growth strategy. Expected volatility is based on the historical volatility of BCE’s share price. The risk-free rate used is equal to the yield available on Government of Canada bonds at the date of grant with a term equal to the expected life of the options
Table:
 | 2019 | 2018
Weighted average fair value per option granted | $2.34 | $2.13
Weighted average share price | $58 | $57
Weighted average exercise price | $58 | $56
Expected dividend growth | 5% | 5%
Expected volatility | 14% | 12%
Risk-free interest rate | 2% | 2%
Expected life (years) | 4 | 4


Question: What is the average expected life over 2018 and 2019?
Answer: 4
Calculation: (4+4)/2
Industry Overview
According to WSTS (an industry research firm), worldwide semiconductor industry sales were $412.1 billion in 2019, a decrease of approximately 12.1% from $468.8 billion in 2018. We participate in unit and revenue surveys and use data summarized by WSTS to evaluate overall semiconductor market trends and to track our progress against the market in the areas we provide semiconductor components. The following table sets forth total worldwide semiconductor industry revenue since 2015:
(1) Based on shipment information published by WSTS. We believe the data provided by WSTS is reliable, but we have not independently verified it. WSTS periodically revises its information. We assume no obligation to update such information.
As indicated above, worldwide semiconductor sales increased from $335.2 billion in 2015 to $412.1 billion in 2019. The decrease of 12.1% from 2018 to 2019 was the result of decreased demand for semiconductor products. Our revenue decreased by $360.4 million, or 6.1%, from 2018 to 2019.
Table:
Year Ended December 31, | Worldwide Semiconductor Industry Sales (1) | Percentage Change
 | (in billions) | 
2019 | $412.1 | (12.1)%
2018 | $468.8 | 13.7%
2017 | $412.2 | 21.6%
2016 | $338.9 | 1.1%
2015 | $335.2 | (0.2)%


Question: What led to the decrease of 12.1% semiconductor sales from 2018 to 2019?
Answer: decreased demand for semiconductor products.
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 is the increase/ (decrease) in Benefits paid from 2018 to 2019?
Answer: -17020
Calculation: 216,510-233,530
As described in Note 7, the acquisition of Norstel resulted in the recognition of $43 million in goodwill which has been included in the ADG segment to align the goodwill of the acquired Company with the segment under which the related activities will be reported.
As of the end of the third quarters of 2019 and 2018, the Company performed its annual impairment test. The Company did not elect to perform a qualitative assessment. The impairment test was conducted following a two-step process. In the first step, the Company compared the fair value of the reporting units tested to their carrying value. Based upon the first step of the goodwill impairment test, no impairment was recorded since the fair value of the reporting units exceeded their carrying value.
Goodwill as at December 31, 2019 and 2018 is net of accumulated impairment losses of $102 million, of which $96 million relates to the MDG segment and $6 million to Others. In 2019, 2018 and 2017, no impairment loss was recorded by the Company.
Table:
 | Automotive and Discrete Group (ADG) | Microcontrollers and Digital ICs Group (MDG) | Analog, MEMS & Sensors Group AMS) | Total
December 31, 2017 | — | 121 | 2 | 123
Foreign currency translation | — | (2) | — | (2)
December 31, 2018 | — | 119 | 2 | 121
Business combination | 43 | — | — | 43
Foreign currency translation | — | (2) | — | (2)
December 31, 2019 | 43 | 117 | 2 | 162


Question: How many million did the acquisition of Norstel contributed to goodwill?
Answer: $43 million
3. Property, Plant and Equipment
Property, plant and equipment as of September 28, 2019 and September 29, 2018 consisted of the following (in thousands):
Table:
 | 2019 | 2018
Land, buildings and improvements | $289,051 | $267,809
Machinery and equipment | 381,656 | 364,034
Computer hardware and software | 136,227 | 130,645
Capital assets in progress | 49,599 | 38,469
Total property, plant and equipment, gross  | 856,533 | 800,957
Less: accumulated depreciation  | (472,309) | (459,651)
Total property, plant and equipment, net | 384,224 | 341,306


Question: Which years did Machinery and equipment exceed $300,000 thousand?
Answer: 2019, 2018
Calculation: (2019:381,656),(2018:364,034)
9. Net interest income/interest expenses
The interest result can be broken down as follows:
Interest income and interest expenses from financial instruments are assigned to the measurement categories according to IFRS 9 on the basis of the underlying transactions.
The interest expenses included here (of the measurement categories in accordance with IFRS 9) primarily include interest expenses for issued bonds (including the Commercial Paper Programme) of €41 million (2017/18: €55 million) and for liabilities to banks of €19 million (2017/18: €12 million).
The decline in interest expenses was primarily the result of more favourable refinancing terms.
Table:
€ million | 2017/2018 | 2018/2019
Interest income | 27 | 29
thereof finance leases | (0) | (0)
thereof from post-employment benefits plans | (5) | (7)
thereof from financial instruments of the measurement categories according to IFRS 9 (previous year: IAS39): | (16) | (12)
Interest expenses | −163 | −148
thereof finance leases | (−51) | (−49)
thereof from post-employment benefits plans | (−16) | (−15)
thereof from financial instruments of the measurement categories according to IFRS9 (previous year: IAS39) | (−79) | (−69)
Interest result | −136 | −119


Question: What are Interest income and interest expenses from financial instrument assigned to?
Answer: assigned to the measurement categories according to IFRS 9 on the basis of the underlying transactions.
NOTE 7 - continued
Lease payments not recognized as a liability The Group has elected not to recognize a lease liability for short-term leases (leases of an expected term of 12 months or less) or for leases of low value assets. Payments made under such leases are expensed on a straight-line basis. The expenses relating to payments not recognized as a lease liability are insignificant.
Administrative expenses The total outflow for leases, USD 2.9m, is presented as “Depreciation” of USD 2.5m and “Financial expenses” (interest) of USD 0.4m, in contrast to the recording of an operating lease charge of a materially equivalent figure within the line item “Administrative expenses” under IAS 17.
Financial expenses
Financial expenses for the reporting periods:
Table:
USDm | 2019 | 2018 | 2017
Interest expenses: | - | - | -
Financial expenses arising from lease liabilities regarding right-of-use assets | 2.4 | 2.3 | 1.8
Other financial expenses | 39.5 | 37.0 | 38.8
Total | 41.9 | 39.3 | 40.6


Question: In which year was the amount of other financial expenses the largest?
Answer: 2019
Calculation: 39.5>38.8>37.0
Information about VMware’s payments for such arrangements during the periods presented consisted of the following (table in millions):
1) Amount includes indirect taxes that were remitted to Dell during the periods presented.
VMware also purchases Dell products through Dell’s channel partners. Purchases of Dell products through Dell’s channel partners were not significant during the periods presented.
From time to time, VMware and Dell also enter into joint marketing, sales, branding and product development arrangements, for which both parties may incur costs.
During the fourth quarter of fiscal 2020, VMware entered into an arrangement with Dell to transfer approximately 250 professional services employees from Dell to VMware. These employees are experienced in providing professional services delivering VMware technology and this transfer centralizes these resources within the Company in order to serve its customers more efficiently and effectively. The transfer was substantially completed during the fourth quarter of fiscal 2020 and did not have a material impact to the consolidated financial statements. VMware also expects that Dell will resell VMware consulting solutions.
During the third quarter of fiscal 2019, VMware acquired technology and employees related to the Dell EMC Service Assurance Suite, which provides root cause analysis management software for communications service providers, from Dell. The purchase of the Dell EMC Service Assurance Suite was accounted for as a transaction by entities under common control. The amount of the purchase price in excess of the historical cost of the acquired assets was recognized as a reduction to retained earnings on the consolidated balance sheets. Transition services were provided by Dell over a period of 18 months, starting from the date of the acquisition, which were not significant.
During the second quarter of fiscal 2018, VMware acquired Wavefront, Inc. (“Wavefront”). Upon closing of the acquisition, Dell was paid $20 million in cash for its non-controlling ownership interest in Wavefront.
Table:
 |  | For the Year Ended | 
 | January 31, 2020 | February 1, 2019 | February 2, 2018
Purchases and leases of products and purchases of services(1) | $242 | $200 | $142
Dell subsidiary support and administrative costs | 119 | 145 | 212


Question: What was the percentage change in Dell subsidiary support and administrative costs between 2019 and 2020?
Answer: -17.93
Calculation: (119-145)/145
Gross Profit and Gross Margin (exclusive of amortization of acquisition-related intangible assets described below)
Our gross profit by reportable segment was as follows (dollars in millions):
(1) Certain of the amounts may not total due to rounding of individual amounts. (2) Unallocated manufacturing costs are presented as a percentage of total revenue (includes expensing of the fair market value step-up of inventory of $19.6 million during 2019 and $1.0 million during 2018).
The decrease in gross profit of $265.1 million, or approximately 12%, was primarily due to the impact of the decrease in sales volume, higher fixed costs due to the expansion in our manufacturing capacity as well as the expensing of $19.6 million excess over book value of inventory, commonly referred to as the fair market value step-up, from the Quantenna acquisition.
Gross margin decreased to 35.8% during 2019 compared to 38.1% during 2018. The decrease was due to a competitive pricing environment resulting in a decline in average selling prices, higher demand for lower margin products, increased manufacturing costs due to a higher mix of external manufacturing and decreased demand for our products, as explained in the revenue section.
Table:
 | 2019 | As a % of Segment Revenue (1) | 2018 | As a % of Segment Revenue (1)
PSG | $976.0 | 35.0 % | $ 1,110.1 | 36.5 %
ASG | 794.8 | 40.3 % | 878.3 | 42.4 %
ISG | 275.4 | 36.4 % | 317.1 | 41.2 %
Gross profit for all segments | $ 2,046.2 |  | $ 2,305.5 | 
Unallocated manufacturing costs (2) | (72.6) | (1.3) % | (66.8) | (1.1) %
Total gross profit | $ 1,973.6 | 35.8 % | $ 2,238.7 | 38.1 %


Question: How much was the expensing of the fair market value step-up of inventory during 2019?
Answer: $1.0 million
Item 5. Market for Registrant's Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities.
Our common shares, without par value, are traded on the NASDAQ Stock Market LLC under the symbol “AGYS”. The high and low sales prices for the common shares for each quarter during the past two fiscal years are presented in the table below.
The closing price of the common shares on May 21, 2019, was $22.51 per share. There were 1,561 active shareholders of record.
We did not pay dividends in fiscal 2019 or 2018 and are unlikely to do so in the foreseeable future. The current policy of the Board of Directors is to retain any available earnings for use in the operations of our business.
Table:
2019 | High | Low
Fourth quarter | $21.17 | $13.92
Third quarter | $17.02 | $13.88
Second quarter | $16.72 | $14.72
First quarter | $15.55 | $11.78
2018 | High | Low
Fourth quarter | $13.00 | $10.77
Third quarter | $12.98 | $11.30
Second quarter | $12.14 | $9.80
First quarter | $10.30 | $9.08


Question: What was the closing price of shares on May 21, 2019?
Answer: $22.51 per share
P. Income Taxes
The domestic and foreign components of income before income tax for the periods presented were as follows (table in millions):
Table:
 |  | For the Year Ended | 
 | January 31, 2020 | February 1, 2019 | February 2, 2018
Domestic | $895 | $680 | $462
Foreign | 543 | 1,149 | 1,115
Total income before income tax | $1,438 | $1,829 | $1,577


Question: What was the domestic income in 2020?
Answer: 895
Dividends and Share Repurchases
Following is a summary of the dividends and share repurchases for the fiscal years ended August 31, 2019, 2018, 2017 and 2016 (in thousands):
(1) The difference between dividends declared and dividends paid is due to dividend equivalents for unvested restricted stock units that are paid at the time the awards vest.
(2) Excludes commissions.
We currently expect to continue to declare and pay regular quarterly dividends of an amount similar to our past declarations. However, the declaration and payment of future dividends are discretionary and will be subject to determination by our Board each quarter following its review of our financial performance.
In June 2018, the Board authorized the repurchase of up to $350.0 million of our common stock. As of August 31, 2019, the total amount authorized by the Board of Directors had been repurchased.
In September 2019, the Board authorized the repurchase of up to $600.0 million of our common stock as part of a two-year capital allocation framework. From September 24, 2019 through October 14, 2019, we repurchased 874,475 shares, utilizing a total of $30.8 million of the $600.0 million authorized by the Board.
Table:
 | Dividends Paid(1) | Share Repurchases(2) | Total
Fiscal year 2016 | $62,436 | $148,185 | $210,621
Fiscal year 2017 | $59,959 | $306,397 | $366,356
Fiscal year 2018 | $57,833 | $450,000 | $507,833
Fiscal year 2019 | $52,004 | $350,000 | $402,004
Total | $232,232 | $1,254,582 | $1,486,814


Question: What was the percentage change in dividends paid between 2018 and 2019?
Answer: -10.08
Calculation: ($52,004-$57,833)/$57,833
6. Goodwill and Other Intangible Assets
The Company completed its annual impairment test for goodwill and indefinite-lived intangible assets during the fourth quarter of fiscal year 2019 and determined the fair values of the reporting units and the indefinite-lived intangible assets were in excess of the carrying values and that no impairment existed as of the date of the impairment test.
The following table presents the changes in goodwill allocated to the Company’s reportable segments, Electronics Manufacturing Services (“EMS”) and Diversified Manufacturing Services (“DMS”), during the fiscal years ended August 31, 2019 and 2018 (in thousands):
(1) Includes $8.2 million of goodwill reallocated between DMS and EMS during fiscal year 2018.
Table:
 | EMS | DMS | Total
Balance as of August 31, 2017 | $52,574 | $555,610 | $608,184
Acquisitions and adjustments(1) | 30,763 | (8,186) | 22,577
Change in foreign currency exchange rates | (667) | (2,349) | (3,016)
Balance as of August 31, 2018 | 82,670 | 545,075 | 627,745
Change in foreign currency exchange rates | (702) | (4,788) | (5,490)
Balance as of August 31, 2019 | $81,968 | $540,287 | $622,255


Question: What was the balance of EMS as in 2018 as a percentage of the total balance at the end of fiscal 2018?
Answer: 13.17
Calculation: 82,670/627,745
A summary of additions and deductions related to the allowance for doubtful accounts for the years ended March 31, 2019, 2018 and 2017 follows (amounts in millions):
(1) Deductions represent uncollectible accounts written off, net of recoveries.
Table:
 | Balance at Beginning of Year | Additions Charged to Costs and Expenses | Deductions (1) | Balance at End of Year
Allowance for doubtful accounts: |  |  |  | 
Fiscal 2019 | $2.2 | $— | $(0.2) | $2.0
Fiscal 2018 | $2.1 | $0.2 | $(0.1) | $2.2
Fiscal 2017 | $2.5 | $0.2 | $(0.6) | $2.1


Question: Which years does the table provide information for the additions and deductions related to the allowance for doubtful accounts?
Answer: 2019, 2018, 2017