hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
Teradyne’s gross unrecognized tax benefits for the years ended December 31, 2019, 2018 and 2017 were as follows:
Current year additions relate to federal and state research credits. Prior year additions primarily relate to stock-based compensation. Prior year reductions are primarily composed of federal and state reserves related to transfer pricing and research credits and resulted from the completion of the 2015 U.S. federal audit in the first quarter of 2019.
Of the $21.2 million of unrecognized tax benefits as of December 31, 2019, $12.7 million would impact the consolidated income tax rate if ultimately recognized. The remaining $8.5 million would impact deferred taxes if recognized.
Teradyne does not anticipate a material change in the balance of unrecognized tax benefits as of December 31, 2019 in the next twelve months.
Teradyne records all interest and penalties related to income taxes as a component of income tax expense. Accrued interest and penalties related to income tax items at December 31, 2019 and 2018 amounted to $1.4 million and $0.3 million, respectively. For the years ended December 31, 2019, 2018 and 2017, expense of $1.1 million, expense of $0.1 million and benefit of $0.1 million, respectively, was recorded for interest and penalties related to income tax items.
Teradyne is subject to U.S. federal income tax, as well as income tax in multiple state, local and foreign jurisdictions. As of December 31, 2019, all material state and local income tax matters have been concluded through 2013, all material federal income tax matters have been concluded through 2015 and all material foreign income tax matters have been concluded through 2011. However, in some jurisdictions, including the United States, operating losses and tax credits may be subject to adjustment until such time as they are utilized and the year of utilization is closed to adjustment.
As of December 31, 2019, Teradyne is not permanently reinvested with respect to the unremitted earnings of non-U.S. subsidiaries to the extent that those earnings exceed local statutory and operational requirements. Remittance of those earnings is not expected to result in material income tax.
Table:
 | 2019 | 2018 | 2017
 |  | (in thousands) | 
Beginning balance, as of January 1 | $43,395 | $36,263 | $38,958
Additions: |  |  | 
Tax positions for current year | 1,322 | 4,716 | 8,208
Tax positions for prior years | 8,043 | 2,626 | 199
Reductions: |  |  | 
Tax positions for prior years | (31,397) | (153) | (10,573)
Expiration of statutes | (183) | (57) | (325)
Settlements with tax authorities | — | — | (204)
Ending balance, as of December 31 | $21,180 | $43,395 | $36,263


Question: In which years was Teradyne’s gross unrecognized tax benefits calculated?
Answer: 2019, 2018, 2017
Year ended December 31, 2018 compared with the year ended December 31, 2017:
Revenue in 2018 is derived from multiple license agreements that we entered into with third-parties following negotiations pursuant to our patent licensing and enforcement program. The revenue increase is primarily due to licensing revenues, as further described in "Item 1. Business" - "Licensing and Enforcement - Current Activities, Post 2013".
Cost of revenues includes contingent legal fees directly associated with our licensing and enforcement programs. Cost of revenues increased largely in proportion to increase in revenues.
Selling, general and administrative expenses ("SG&A") consisted primarily of legal fees incurred in operations and employee headcount related expenses. These comprise approximately 74% of total SG&A expense. Litigation expenses increased $4.2 million to $16.5 million in 2018 compared to 2017 and are primarily due to the timing of various outstanding litigation actions. See "Item 3. Legal Proceedings". Employee headcount related expenses increased $1.8 million to $7.2 million in 2018 compared to 2017, and is primarily due to incentive bonuses earned during the year. The balance of SG&A expenses include consulting, other professional services, facilities and other administrative fees and expenses.
Research and Development expenses ("R&D") are primarily from our Finjan Mobile security business and increased by $0.6 million to $2.1 million in 2018 compared to 2017, as we continue to position this business for future growth.
Other income (expense) is primarily due to changes in the fair value of the warrant liability of $3.4 million in 2018 versus a benefit of $2.2 million in 2017, and interest expense of $0.6 million in 2018, net.
We recognized an income tax expense of $8.1 million on pre-tax income of $28.7 million in 2018 as compared to a benefit from the reduction in the valuation allowance of $6.2 million in 2017.
Table:
 |  | For the Year Ended December 31, |  | 
 | 2018 | 2017 | Change | % Change
 |  | (In millions, except percentages) |  | 
Revenues | $82.3 | $50.5 | $31.8 | 63%
Cost of revenues | 15.3 | 6.0 | 9.3 | 155%
Gross profit | 67.0 | 44.5 | 22.5 | 51%
Gross margin | 81% | 88% |  | 
Operating expenses: |  |  |  | 
Selling, general and administrative | 32.2 | 28.6 | 3.6 | 13%
Research and development | 2.1 | 1.5 | 0.6 | 40%
Total operating expenses | 34.3 | 30.1 | 4.2 | 14%
Other income (expense) | (4.0) | 2.2 | (6.2) | (282)%
Income before income taxes | 28.7 | 16.6 | 12.1 | 73%
Income tax provision (benefit) | 8.0 | (6.2) | 14.2 | (229)%
Net income | $20.7 | $22.8 | $(2.1) | (9)%


Question: What are the respective increase in R&D expenses between 2017 and 2018, as well as the R&D expenses in 2018?
Answer: $0.6 million, $2.1 million
Fourth quarter gross profit was $1,081 million and gross margin was 39.3%. On a sequential basis, gross margin increased 140 basis points, mainly driven by improved product mix and better manufacturing efficiencies.
Gross margin decreased 70 basis points year-over-year, mainly impacted by price pressure and unsaturation charges, partially offset by improved manufacturing efficiencies, better product mix and favorable currency effects, net of hedging.
Table:
 |  | Three Months Ended |  | Variation | 
 | December 31, 2019 | September 29, 2018 | December 31, 2018 | Sequential | Year-Over-Year
 |  | (Unaudited, in millions) |  |  | 
Gross profit | $ 1,081 | $ 967 | $ 1,059 | 11.8% | 2.0%
Gross margin (as percentage of net revenues) | 39.3% | 37.9% | 40.0% | +140 bps | -70 bps


Question: What is the average Gross profit for the period December 31, 2019 and 2018?
Answer: 1070
Calculation: (1,081+1,059) / 2
Results of Operations
Year Ended December 31, 2019 Compared to the Year Ended December 31, 2018
Our management reviews and analyzes several key financial measures in order to manage our business and assess the quality of and variability of our service revenue, operating results and cash flows. The following summary tables present a comparison of our results of operations with respect to certain key financial measures. The comparisons illustrated in the tables are discussed in greater detail below.
Table:
 |  | Year Ended December 31, | 
 | 2019 | 2018 | Percent Change
Other Operating Data |  |  | 
Average Revenue Per Unit (ARPU) |  |  | 
ARPU—on-net | $ 461 | $ 480 | (3.8)%
ARPU—off-net | $ 1,097 | $ 1,155 | (5.0)%
Average price per megabit | $ 0.62 | $ 0.82 | (23.9)%
Customer Connections—end of period |  |  | 
On-net | 74,554 | 68,770 | 8.4%
Off-net | 11,660 | 10,974 | 6.3%


Question: What is the average number of on-net customer connections at the end of the period in 2018 and 2019?
Answer: 71662
Calculation: (68,770 + 74,554)/2
Cost of Revenues
Cost of Subscription Solutions
Cost of subscription solutions increased $27.2 million, or 26.9%, for the year ended December 31, 2019 compared to the same period in 2018. The increase was primarily due to higher third-party infrastructure and hosting costs. The increase was also due to an increase in costs necessary to support a greater number of merchants using our platform, resulting in an increase in: credit card fees for processing merchant billings, employee-related costs, amortization of technology related to enhancing our platform, payments to third-party partners for the registration of domain names, and payments to third-party theme developers. As a percentage of revenues, costs of subscription solutions decreased from 9.4% in 2018 to 8.1% in 2019 due to a decrease in third-party infrastructure and hosting costs and employee-related costs as a percentage of revenue in 2019.
Cost of subscription solutions increased $39.7 million, or 64.8%, for the year ended December 31, 2018 compared to the same period in 2017. The increase was primarily due to higher third-party infrastructure and hosting costs as well as higher employee-related costs.
Cost of Merchant Solutions
Cost of merchant solutions increased $208.4 million, or 55.4%, for the year ended December 31, 2019 compared to the same period in 2018. The increase was primarily due to the increase in GMV facilitated through Shopify Payments, which resulted in higher payment processing and interchange fees. The increase was also due to higher amortization, largely related to the technology resulting from the 6RS acquisition, higher product costs associated with expanding our product offerings and higher credit card fees for processing merchant billings. Cost of merchant solutions as a percentage of revenues increased from 35.0% in 2018 to 37.0% in 2019, mainly as a result of Shopify Payments representing a larger percentage of total revenue.
Cost of merchant solutions increased $144.2 million, or 62.2%, for the year ended December 31, 2018 compared to the same period in 2017. The increase was primarily due to the increase in GMV facilitated through Shopify Payments, which resulted in payment processing fees, including interchange fees, increasing for the year ended December 31, 2018 as compared to the same period in 2017.
Table:
 | Years ended December 31 |  |  | 2019 vs 2018 | 2018 vs 2017
 | 2019 | 2018 | 2017 | % | %
 | (in thousands, except percentages) |  |  |  | 
Cost of revenues: |  |  |  |  | 
Cost of subscription solutions | $ 128,155 | $ 100,990 | $ 61,267 | 26.9 % | 64.8 %
Cost of merchant solutions | 584,375 | 375,972 | 231,784 | 55.4 % | 62.2 %
Total cost of revenues | $ 712,530 | $ 476,962 | $ 293,051 | 49.4 % | 62.8 %
Percentage of revenues: |  |  |  |  | 
Cost of subscription solutions | 8.1 % | 9.4 % | 9.1 % |  | 
Cost of merchant solutions | 37.0 % | 35.0 % | 34.4 % |  | 
 | 45.1 % | 44.4 % | 43.5 % |  | 


Question: Between year ended 2018 and 2019, which year had a higher cost of merchant solutions?
Answer: 2019
Calculation: 584,375>375,972
Total CO2 emissions FY19
1 Tonnes of carbon dioxide equivalent.
2 Absolute carbon emissions divided by revenue in millions.
Auto Trader is required to measure and
report its direct and indirect greenhouse
gas (‘GHG’) emissions by the Companies Act
2006 (Strategic Report and Directors’ Report)
Regulations 2013. The greenhouse gas
reporting period is aligned to the financial
reporting year. The methodology used to
calculate our emissions is based on the
financial consolidation approach, as
defined in the Greenhouse Gas Protocol,
A Corporate Accounting and Reporting
Standard (Revised Edition). Emission
factors used are from UK government
(‘BEIS’) conversion factor guidance for
the year reported.
Auto Trader is required to measure and report its direct and indirect greenhouse gas (‘GHG’) emissions by the Companies Act 2006 (Strategic Report and Directors’ Report) Regulations 2013. The greenhouse gas reporting period is aligned to the financial reporting year. The methodology used to calculate our emissions is based on the financial consolidation approach, as defined in the Greenhouse Gas Protocol, A Corporate Accounting and Reporting Standard (Revised Edition). Emission factors used are from UK government (‘BEIS’) conversion factor guidance for the year reported.
The report includes the ‘Scope 1’ (combustion of fuel) in relation to company cars and ‘Scope 2’ (purchased electricity and gas) emissions associated with our offices. We have chosen to include the emissions associated with leased company cars in Scope 1, as we are responsible for these emissions.
We have chosen to present a revenue intensity ratio as this is a relevant indicator of our growth and is aligned with our business strategy. The reduction in our GHG emissions is due to a reduction in the fuel emissions from our company car fleet, as the fleet has reduced. We have also reduced the amount of electricity we use, and this coupled with a decrease in BEIS conversion factors has also contributed to our Scope 2 reduction.
Table:
 | FY19 | FY18 | FY17 | FY16
Scope 1 | 263 | 390 | 491 | 565
Manchester | 213 | 281 | 361 | 357
London | 44 | 60 | 76 | 88
Scope 2 | 258 | 340 | 437 | 445
Total | 521 | 731 | 928 | 1,010
Revenue | 355.1 | 330.1 | 311.5 | 281.6
Carbon intensity | 1.47 | 2.21 | 2.98 | 3.59
Year-on-year change | -34% | -26% | -17% | 


Question: What was the change in the CO2 emissions amount in London in 2019 from 2018?
Answer: -16
Calculation: 44-60
The following table provides a reconciliation from U.S. GAAP Net income to non-GAAP Adjusted net income (amounts in thousands):
(1) Fiscal years ending March 31, 2018 and 2017 adjusted due to the adoption of ASC 606.
(2) $0.9 million in costs incurred during fiscal year 2018 related to the relocation of the Company's tantalum powder facility equipment from Carson City, Nevada to its existing Matamoros, Mexico plant were reclassified from “Plant start-up costs” to “Restructuring charges” during fiscal year 2019.
Table:
 |  | Fiscal Years Ended March 31, | 
 | 2019 | 2018 | 2017
Net income (GAAP) (1) | $206,587 | $254,127 | $47,157
Non-GAAP adjustments: |  |  | 
Equity (income) loss from equity method investments | 3,304 | (76,192) | (41,643)
Acquisition (gain) loss | — | (130,880) | —
Change in value of TOKIN options | — | — | (10,700)
(Gain) loss on write down and disposal of long-lived assets | 1,660 | (992) | 10,671
Restructuring charges (2) | 8,779 | 14,843 | 5,404
R&D grant reimbursements and grant income | (4,559) | — | —
ERP integration costs/IT transition costs | 8,813 | 80 | 7,045
Stock-based compensation | 12,866 | 7,657 | 4,720
Legal expenses/fines related to antitrust class actions | 11,896 | 16,636 | 2,640
Net foreign exchange (gain) loss | (7,230) | 13,145 | (3,758)
TOKIN investment-related expenses | — | — | 1,101
Plant start-up costs (2) | (927) | 929 | 427
Amortization included in interest expense | 1,872 | 2,467 | 761
Income tax effect of non-GAAP adjustments | (50,012) | (30) | (741)
Loss on early extinguishment of debt | 15,946 | 486 | —
Adjusted net income (non-GAAP) (1) | $208,995 | $102,276 | $23,084


Question: What was the percentage change in the Amortization included in interest expense between 2017 and 2019?
Answer: 145.99
Calculation: (1,872-761)/761
AMERICAN TOWER CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Tabular amounts in millions, unless otherwise disclosed)
The components of the net deferred tax asset and liability and related valuation allowance were as follows:
The Company provides valuation allowances if, based on the available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. Management assesses the available evidence to estimate if sufficient future taxable income will be generated to use the existing deferred tax assets.
Table:
 | December 31, 2019 | December 31, 2018
Assets: |  | 
Operating lease liability | $878.5 | $—
Net operating loss carryforwards | 356.6 | 264.9
Accrued asset retirement obligations | 174.9 | 165.7
Stock-based compensation | 5.6 | 6.3
Unearned revenue | 31.7 | 28.3
Unrealized loss on foreign currency | 3.8 | 12.9
Other accruals and allowances | 65.6 | 78.6
Items not currently deductible and other | 26.1 | 26.2
Liabilities: |  | 
Depreciation and amortization | (1,040.3) | (757.0)
Right-of-use asset | (865.1) | —
Deferred rent | (79.7) | (36.9)
Other | — | (15.3)
Subtotal | (442.3) | (226.3)
Valuation allowance | (194.2) | (151.9)
Net deferred tax liabilities | $(636.5) | $(378.2)


Question: When does the company provide valuation allowances?
Answer: if, based on the available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized.
Subsequent to the year end, we have received the final ratifications required for full planning to become effective and therefore we expect the positive impact on retained earnings to reverse once these arrangements are formally concluded. In this event EPRA NAV per share would have been 143 pence.
Debt measures
A Debt to asset ratio
Our debt to assets ratio increased to 67.8 per cent in 2019 due to the property revaluation deficit in the year. This reduces to 65.3 per cent when adjusted for expected disposal proceeds from intu Puerto Venecia and intu Asturias.
B Interest cover
Interest cover of 1.67x remains above our target minimum level of 1.60x although it has reduced in 2019 as a result of the reduction in net rental income.
C Immediately available cash and facilities
Immediately available cash and facilities has reduced in the year by £5.3 million to £241.5 million at 31 December 2019. This excludes the rents collected at the end of December 2019 which relate to the first quarter of 2020 and remain in the debt structures until interest payments are made. At 10 March 2020, immediately available cash and facilities is £200.3 million, which will be augmented by the intu Puerto Venecia sales proceeds expected to be received in early April.
Table:
 | Notes | 2019 | 2018 | Change
Debt to assets ratio | A | 67.8% | 53.1% | 14.7%
Interest cover | B | 1.67x | 1.91x | –0.24x
Weighted average debt maturity |  | 5.0 years | 5.8 years | –0.8 years
Weighted average cost of gross debt (excluding RCF) |  | 4.3% | 4.2% | –0.1%
Proportion of gross debt with interest rate protection |  | 88% | 84% | 4%
Immediately available cash and facilities | C | £241.5m | £246.8m | £(5.3)m


Question: What is the weighted average debt maturity in 2019?
Answer: 5.0 years
(1) Represents accelerated vesting of 48,849 stock options. Pursuant to Mr. Dooley’s stock option agreements (dated January 17, 2019),
if Mr. Dooley’s employment is terminated without cause or for good reason within six months following a “change in control”, he will
become immediately vested in all outstanding unvested stock options, and all of Mr. Dooley’s outstanding options shall remain
exercisable in accordance with their terms, but in no event for less than 90 days after such termination.
(2) Represents accelerated vesting of 15,000 unvested restricted stock units. Pursuant to Mr. Dooley’s restricted stock unit agreement
(dated March 1, 2012), upon a “change in control” all non-vested units shall accelerate and be vested as of the date of the “change in
control” and if Mr. Dooley’s employment is terminated without cause or for good reason, all non-vested units shall accelerate and be
vested as of the date of termination
(3) Represents accelerated vesting of 7,500 unvested restricted stock units. Pursuant to Mr. Dooley’s restricted stock unit agreement
(dated March 1, 2012), on the event of Mr. Dooley’s death or total disability, 7,500 restricted stock units (50% of the unvested restricted
stock units granted under such agreement at December 31, 2018) would vest.
(4) Represents accelerated vesting of 10,630 unvested performance restricted stock units. Pursuant to Mr. Dooley's performance restricted
stock unit agreement (dated January 17, 2019), if Mr. Dooley’s employment is terminated without cause or for good reason within six
months following a “change in control” or if Mr. Dooley's employment is terminated due to death or total disability, all non-vested units
shall accelerate and be vested as of the date of termination.
Table:
Type of Payment | Termination by Systemax without “Cause” or Resignation by Employee for “good reason” ($) | Termination Due to Death or Total Disability ($) | Change In Control Only ($) | Termination by Systemax without “Cause” or Resignation by Employee for “good reason” within a certain period of time following a Change in Control ($)
Cash Compensation (Salary & Non-Equity Incentive Compensation) | - | - | - | -
Value of Accelerated Vesting of Stock Option Awards | - | - | - | 505,100 (1)
Value of Accelerated Vesting of Restricted Stock Unit Awards | 377,400 (2) | 188,700 (3) | 377,400 (2) | -
Value of Accelerated Vesting of Performance Restricted Stock Unit Awards | - | 267,500 (4) | - | 267,500 (4)
Medical and Other Benefits | - | - | - | -
Total | 377,400 | 456,200 | 377,400 | 772,600


Question: What is the percentage of payment due as a result of change in control as a percentage of the payment due to termination without cause within a certain period following a change in control?
Answer: 48.85
Calculation: 377,400/772,600
11. Reportable Segments, Geographic Information and Major Customers
Reportable segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker, or group, in assessing performance and allocating resources. The Company uses an internal management reporting system, which provides important financial data to evaluate performance and allocate the Company’s resources on a regional basis. Net sales for the segments are attributed to the region in which the product is manufactured or the service is performed. The services provided, manufacturing processes used, class of customers serviced and order fulfillment processes used are similar and generally interchangeable across the segments. A segment’s performance is evaluated based upon its operating income (loss). A segment’s operating income (loss) includes its net sales less cost of sales and selling and administrative expenses, but excludes corporate and other expenses. Corporate and other expenses  fiscal 2019 and the $13.5 million one-time employee bonus paid to full-time, non-executive employees during fiscal 2018 due to the Company's ability to access overseas cash as a result of Tax Reform (the "one-time employee bonus"). These costs are not allocated to the segments, as management excludes such costs when assessing the performance of the segments. Inter-segment transactions are generally recorded at amounts that approximate arm’s length transactions. The accounting policies for the segments are the same as for the Company taken as a whole.
Information about the Company’s three reportable segments for fiscal 2019, 2018 and 2017 is as follows (in thousands):
Table:
 | 2019 | 2018 | 2017
Net sales:       |  |  | 
AMER  | $1,429,308 | $1,218,944 | $1,166,346
APAC  | 1,557,205 | 1,498,010 | 1,279,261
EMEA  | 309,933 | 281,489 | 192,829
Elimination of inter-segment sales  | (132,012) | (124,935) | (110,384)
 | 3,164,434 | 2,873,508 | 2,528,052
Operating income (loss): |  |  | 
AMER | $57,780 | $38,637 | $41,924
APAC | 208,178 | 213,935 | 200,103
EMEA | 4,475 | 1,447 | (6,197)
Corporate and other costs | (128,378) | (135,736) | (105,922)
 | $142,055 | $118,283 | $129,908
Other income (expense): |  |  | 
Interest expense | $(12,853) | $(12,226) | $(13,578)
Interest income | 1,949 | 4,696 | 5,042
Miscellaneous, net | (5,196) | (3,143) | 451
Income before income taxes | $125,955 | $107,610 | $121,823


Question: What was the change in the net sales from APAC between 2017 and 2018?
Answer: 218749
Calculation: 1,498,010-1,279,261