hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
note 4 : property , plant and equipment the following table summarizes the major classes of property , plant and equipment by category as of december 31 : 2015 2014 range of remaining useful weighted average useful life utility plant : land and other non-depreciable assets . . . . . . . . . . $ 141 $ 137 sources of supply . . . . . . . . . . . . . . . . . . . . . . . . . . 705 681 12 to 127 years 51 years treatment and pumping facilities . . . . . . . . . . . . . . 3070 2969 3 to 101 years 39 years transmission and distribution facilities . . . . . . . . . 8516 7963 9 to 156 years 83 years services , meters and fire hydrants . . . . . . . . . . . . . 3250 3062 8 to 93 years 35 years general structures and equipment . . . . . . . . . . . . . 1227 1096 1 to 154 years 39 years waste treatment , pumping and disposal . . . . . . . . . 313 281 2 to 115 years 46 years waste collection . . . . . . . . . . . . . . . . . . . . . . . . . . . 473 399 5 to 109 years 56 years construction work in progress . . . . . . . . . . . . . . . . 404 303 total utility plant . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18099 16891 nonutility property . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 405 378 3 to 50 years 6 years total property , plant and equipment . . . . . . . . . . . . . . . $ 18504 $ 17269 property , plant and equipment depreciation expense amounted to $ 405 , $ 392 , and $ 374 for the years ended december 31 , 2015 , 2014 and 2013 , respectively and was included in depreciation and amortization expense in the accompanying consolidated statements of operations . the provision for depreciation expressed as a percentage of the aggregate average depreciable asset balances was 3.13% ( 3.13 % ) for the year ended december 31 , 2015 and 3.20% ( 3.20 % ) for years december 31 , 2014 and 2013 . note 5 : allowance for uncollectible accounts the following table summarizes the changes in the company 2019s allowances for uncollectible accounts for the years ended december 31: .

Table:
 | 2015 | 2014 | 2013
balance as of january 1 | $ -35 ( 35 ) | $ -34 ( 34 ) | $ -27 ( 27 )
amounts charged to expense | -32 ( 32 ) | -37 ( 37 ) | -27 ( 27 )
amounts written off | 38 | 43 | 24
recoveries of amounts written off | -10 ( 10 ) | -7 ( 7 ) | -4 ( 4 )
balance as of december 31 | $ -39 ( 39 ) | $ -35 ( 35 ) | $ -34 ( 34 )
.

Question: by how much did property , plant and equipment depreciation expense increase from 2013 to 2015?
Answer: 8.3%
Calculation: subtract(405, 374), divide(#0, 374)
Contractual Obligations
The following table presents the payments due by fiscal year for our outstanding contractual obligations as of December 31, 2019 (in thousands):
(1) Includes estimated cash interest to be paid over the remaining terms of the underlying debt. Interest payments are based on fixed and floating rates as of December 31, 2019.
(2) Purchase obligations represent agreements to purchase goods or services, including open purchase orders and contracts with fixed volume commitments, that are noncancelable or cancelable with a significant penalty. Purchase obligations for our long-term supply agreements for the purchase of substrate glass and cover glass represent specified termination penalties, which are up to $430 million in the aggregate under the agreements. Our actual purchases under these supply agreements are expected to be approximately $2.4 billion of substrate glass and $500 million of cover glass.
(3) In connection with business or project acquisitions, we may agree to pay additional amounts to the selling parties upon achievement of certain milestones. See Note 14. “Commitments and Contingencies” to our consolidated financial statements for further information.
(4) Transition tax obligations represent estimated payments for U.S. federal taxes associated with accumulated earnings and profits of our foreign corporate subsidiaries. See Note 18. “Income Taxes” to our consolidated financial statements for further information.
(5) Includes expected letter of credit fees and unused revolver fees.
We have excluded $72.2 million of unrecognized tax benefits from the amounts presented above as the timing of such obligations is uncertain.
Table:
 |  |  | Payments Due by Year |  | 
 |  | Less Than | 1 - 3 | 3 - 5 | More Than
 | Total | 1 Year | Years | Years | 5 Years
Long-term debt obligations | $482,892 | $17,684 | $98,571 | $37,496 | $329,141
Interest payments (1) . | 168,040 | 17,276 | 29,533 | 27,409 | 93,822
Operating lease obligations | 162,913 | 15,153 | 28,771 | 26,708 | 92,281
Purchase obligations (2) . | 1,424,267 | 900,200 | 221,888 | 187,277 | 114,902
Recycling obligations . | 137,761 | — | — | — | 137,761
Contingent consideration (3) . | 6,895 | 2,395 | 4,500 | — | —
Transition tax obligations (4) . | 76,667 | 6,620 | 14,747 | 32,259 | 23,041
Other obligations (5) . | 10,527 | 2,933 | 5,164 | 2,430 | —
Total . | $2,469,962 | $962,261 | $403,174 | $313,579 | $790,948


Question: What percentage of the total contractual obligations is made up of total purchase obligations?
Answer: 57.66
Calculation: 1,424,267/2,469,962
PSU plan
The Corporation also offers a Performance Share Unit ("PSU") Plan for the benefit of its executive officers and designated employees. The objectives of the PSU Plan are to retain executive officers and designated employees, to align their interests with those of the shareholders and to sustain positive corporate performance, as measured by an economic value creation formula, a performance measure used by management.
The number of PSUs is based on the dollar value of the award and the average closing stock price of the Corporation for the previous twelve month period ending August 31. The PSUs vest over a three-year less one day period, based on the level of increase in the economic value of the Corporation or the relevant subsidiary for the preceding three-year period ending August 31, meaning that no vesting will occur if there is no increase in the economic value.
The participants are entitled to receive dividend equivalents in the form of additional PSUs but only with respect to vested PSUs. PSUs are redeemable in case of death, permanent disability, normal retirement or termination of employment not for cause, in which cases, the holder of PSUs is entitled to payment of the PSUs in proportion to the time of employment from the date of the grant to the date of termination versus the three-year less one day vesting period.
A trust was created for the purpose of purchasing these shares on the stock market in order to protect against stock price fluctuation and the Corporation instructed the trustee to purchase subordinate voting shares of the Corporation on the stock market. These shares are purchased and are held in trust for the participants until they are fully vested. The trust, considered as a special purpose entity, is consolidated in the Corporation’s financial statements with the value of the acquired subordinate voting shares held in trust under the PSU Plan presented in reduction of share capital.
Under the PSU Plan, the following PSUs were granted by the Corporation and are outstanding at August 31: Years ended August 31, 2019
(1) For the year ended August 31, 2019, the Corporation granted 14,625 (19,025 in 2018) PSUs to Cogeco's executive officers as executive officers of the Corporation.
A compensation expense of $1,400,000 ($2,198,000 in 2018) was recorded for the year ended August 31, 2019 related to this plan.
Table:
Years ended August 31, | 2019 | 2018
Outstanding, beginning of the year | 133,181 | 115,207
Granted (1) | 45,800 | 65,525
Performance-based additional units granted | 200 | 2,639
Distributed | (43,319) | (41,441)
Cancelled | (31,889) | (12,184)
Dividend equivalents | 3,578 | 3,435
Outstanding, end of the year | 107,551 | 133,181


Question: How is the number of PSUs calculated?
Answer: The number of PSUs is based on the dollar value of the award and the average closing stock price of the Corporation for the previous twelve month period ending August 31.
part ii item 5 . market for registrant 2019s common equity and related stockholder matters recent sales of unregistered securities during the fourth quarter of 2003 , aes issued an aggregated of 20.2 million shares of its common stock in exchange for $ 20 million aggregate principal amount of its senior notes . the shares were issued without registration in reliance upon section 3 ( a ) ( 9 ) under the securities act of 1933 . market information our common stock is currently traded on the new york stock exchange ( 2018 2018nyse 2019 2019 ) under the symbol 2018 2018aes . 2019 2019 the following tables set forth the high and low sale prices for our common stock as reported by the nyse for the periods indicated . price range of common stock .

Table:
2003 first quarter | high $ 4.04 | low $ 2.72 | 2002 first quarter | high $ 17.84 | low $ 4.11
second quarter | 8.37 | 3.75 | second quarter | 9.17 | 3.55
third quarter | 7.70 | 5.91 | third quarter | 4.61 | 1.56
fourth quarter | 9.50 | 7.57 | fourth quarter | 3.57 | 0.95
holders as of march 3 , 2004 , there were 9026 record holders of our common stock , par value $ 0.01 per share .
dividends under the terms of our senior secured credit facilities , which we entered into with a commercial bank syndicate , we are not allowed to pay cash dividends .
in addition , under the terms of a guaranty we provided to the utility customer in connection with the aes thames project , we are precluded from paying cash dividends on our common stock if we do not meet certain net worth and liquidity tests .
our project subsidiaries 2019 ability to declare and pay cash dividends to us is subject to certain limitations contained in the project loans , governmental provisions and other agreements that our project subsidiaries are subject to .
see item 12 ( d ) of this form 10-k for information regarding securities authorized for issuance under equity compensation plans. .

Question: what was the difference in the low price for the first quarter of 2003 and the high price for the fourth quarter of 2002?
Answer: -0.54
Calculation: subtract(3.57, 4.11)
ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (United States Dollars in thousands, except per share data and unless otherwise indicated)
Contractual Obligations
Our principal commitments consisted of obligations under our outstanding term loan and operating leases for office facilities. The following table summarizes our commitments to settle contractual obligations in cash as of December 31, 2019.
(1) The principal balance of the term loan is repaid on a quarterly basis at an amortization rate of 0.25% per quarter, with the balance due at maturity
(2) Variable interest payments on our term loan are calculated based on the interest rate as of December 31, 2019 and the scheduled maturity of the underlying term loan.
(3) Amounts presented reflect a quarterly commitment fee rate of 0.375% per annum, and assume that the entire $100 million revolving loan facility is unused (the conditions that existed as of period end) for the duration of the agreement, which matures on March 29, 2023.
(4) Our operating leases are for office space. Certain of these leases contain provisions for rent escalations and/or lease concessions. Rental payments, as well as any step rent provisions specified in the lease agreements, are aggregated and charged evenly to expense over the lease term. However, amounts included herein do not reflect this accounting treatment, as they represent the future contractual lease cash obligations.
The payments that we may be required to make under the TRA to the TRA Parties may be significant and are not reflected in the contractual obligations table set forth above. Refer to Part I, Item 1A "Risk Factors–Risks Related to Our Organizational Structure" and to Note 13 to the Notes to Consolidated Financial Statements in Item 8 for additional detail.
The payments that we may be required to make under the TRA to the TRA Parties may be significant and are not reflected in the contractual obligations table set forth above. Refer to Part I, Item 1A "Risk Factors–Risks Related to Our Organizational Structure" and to Note 13 to the Notes to Consolidated Financial Statements in Item 8 for additional detail.
Table:
 | Total | Less than 1 year | 1-3 years | 3-5 years | More than 5 years
Term loan(1) | $393,000 | $4,000 | $8,000 | $8,000 | $373,000
Interest payments on term loan(2) | 100,382 | 19,575 | 38,550 | 37,750 | 4,507
Revolving loan facility fees(3) | 1,310 | 375 | 750 | 185 | —
Operating leases(4) | 15,398 | 4,491 | 8,596 | 2,311 | —
Total contractual obligations | $510,090 | $28,441 | $55,896 | $48,246 | $377,507


Question: What was the contractual obligations due more than 5 years as a percentage of total contractual obligations?
Answer: 74.01
Calculation: 377,507/510,090
Note 3 − Property and Equipment
Our major classes of property and equipment were as follows:
Depreciation expense for the years ended December 31, 2019 and 2018 was $7, and $18, respectively.
Table:
 | December 31 | December 31
 | 2019 | 2018
Office furniture | $79 | $79
Computer equipment | 81 | 67
Total | 160 | 146
Less accumulated depreciation | (144) | (137)
Total property and equipment, net | $16 | $9


Question: Which year has a higher total sum of 'Depreciation expense' and 'Total property and equipment, net'?
Answer: 2018
Calculation: (9 + 18) > (16 + 7)
Fair Value Disclosures
Under the fair value standards fair value is based on the exit price and defined as the price that would be received to sell an asset or transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement should reflect all the assumptions that market participants would use in pricing an asset or liability. A fair value hierarchy is established in the authoritative guidance outlined in three levels ranking from Level 1 to level 3 with Level 1 being the highest priority.
Level 1: observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets
Level 2: inputs other than quoted prices included in Level 1 that are observable for the asset or liability either directly or indirectly
Level 3: unobservable inputs (e.g., a reporting entity’s or other entity’s own data)
The Company had no assets or liabilities measured at fair value on a recurring (except our pension plan assets, see Note 15) or
non-recurring basis as of September 30, 2019 or September 30, 2018.
To estimate fair value of the financial instruments below quoted market prices are used when available and classified within Level 1. If this data is not available, we use observable market based inputs to estimate fair value, which are classified within Level 2. If the preceding information is unavailable, we use internally generated data to estimate fair value which is classified within Level 3.
Cash and cash equivalents
Carrying amount approximated fair value
Accounts and long term receivable with original maturity over one year
Fair value was estimated by discounting future cash flows based on the current rate with similar terms.
Note payable
Fair value was estimated based on quoted market prices.
Fair value of accounts receivable with an original maturity of one year or less and accounts payable was not materially different from their carrying values at September 30, 2019, and 2018.
Table:
 | As of September 30, 2019 |  | As of September 30, 2018 |  |  | 
 | Carrying amount | Fair value | Carrying amount | Fair value | Fair Value Level | References
 |  | (Amounts in thousands) |  |  |  | 
Assets: |  |  |  |  |  | 
Cash and cash equivalents | $18,099 | $18,099 | $25,107 | $25,107 | 1 | Consolidated Balance SSheets
Accounts & long term receivable* | 7,087 | 7,087 | - | - | 3 | Note 3
Liabilities: |  |  |  |  |  | 
Note payable | 1,001 | 1,001 | - | - | 2 | Note 11
*Original maturity over one year |  |  |  |  |  | 


Question: What does a Level 3 fair value hierarchy refer to?
Answer: unobservable inputs (e.g., a reporting entity’s or other entity’s own data)
G. PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment, net consisted of the following at December 31, 2019 and 2018:
Depreciation of property, plant and equipment for the years ended December 31, 2019, 2018, and 2017 was $70.8 million, $67.4 million, and $66.1 million, respectively. As of December 31, 2019 and 2018, the gross book value included in machinery and equipment for internally manufactured test systems being leased by customers was $5.4 million and $5.5 million, respectively. As of December 31, 2019 and 2018, the accumulated depreciation on these test systems was $5.1 million and $5.2 million, respectively.
Table:
 | 2019 | 2018
 | (in thousands) | 
Land | $16,561 | $16,561
Buildings | 107,282 | 105,935
Machinery, equipment and software | 834,970 | 752,722
Furniture and fixtures | 29,157 | 27,432
Leasehold improvements | 59,378 | 52,536
Construction in progress | 2,537 | 6,276
 | 1,049,885 | 961,462
Less: accumulated depreciation | 729,669 | 681,641
 | $320,216 | $279,821


Question: In which year was Construction in progress larger?
Answer: 2018
Calculation: 6,276>2,537
Research and Development
Research and development expenses in 2019 decreased by $4.6 million, or 21%, as compared to 2018. The decrease was primarily due to a reduction in the number of full-time research and development personnel, resulting in a decrease of $3.1 million in compensation expense and $0.6 million in allocated facilities and information technology costs as compared to 2018. We did not incur restructuring costs in 2019, as compared to 2018 when $0.1 million was incurred as part of the 2018 Restructuring Plan (refer to Note 4 of the accompanying consolidated financial statements). Finally, the decrease was further driven by lower professional fees of $0.6 million, as we reduced the number of research and development contractors as compared to 2018.
Table:
 | Years Ended December 31, |  | Change | 
 | 2019 | 2018 | $ | %
 |  | (dollars in thousands) |  | 
Research and development | $17,845 | $22,450 | $(4,605) | (21)%
Percent of revenues, net | 36% | 38% |  | 


Question: What is the average research and development expense in 2018 and 2019?
Answer: 20147.5
Calculation: (22,450 + 17,845)/2
Fiscal Year Ended 2019 and 2018 Revenues
* Adjusted IFRS balances to reflect the impact of the full retrospective adoption of IFRS 15. See Note 2 of the notes to our consolidated financial statements for further details.
Total revenues increased $329.1 million, or 37%, in the fiscal year ended June 30, 2019 compared to the fiscal year ended June 30, 2018. Growth in total revenues was attributable to increased demand for our products from both new and existing customers. Of total revenues recognized in the fiscal year ended June 30, 2019, over 90% was attributable to sales to customer accounts existing on or before June 30, 2018. Our number of total customers increased to 152,727 at June 30, 2019 from 125,796 at June 30, 2018.
Subscription revenues increased $223.3 million, or 54%, in the fiscal year ended June 30, 2019 compared to the fiscal year ended June 30, 2018. The increase in subscription revenues was primarily attributable to additional subscriptions from our existing customer base. As customers increasingly adopt cloud-based, subscription services and term-based licenses of our Data Center products for their business needs, we expect our subscription revenues to continue to increase at a rate higher than the rate of increase of our perpetual license revenues in future periods.
Maintenance revenues increased $68.0 million, or 21%, in the fiscal year ended June 30, 2019 compared to the fiscal year ended June 30, 2018. The increase in maintenance revenues was primarily attributable to growing renewal of software maintenance contracts from our customers related to our perpetual license software offerings.
Perpetual license revenues increased $10.4 million, or 13%, in the fiscal year ended June 30, 2019 compared to the fiscal year ended June 30, 2018. A substantial majority of the increase in perpetual license revenues was attributable to additional licenses to existing customers.
Other revenues increased $27.5 million, or 45%, in the fiscal year ended June 30, 2019 compared to the fiscal year ended June 30, 2018. The increase in other revenues was primarily attributable to an increase in revenue from sales of third-party apps through our Atlassian Marketplace.
Table:
 | Fiscal Year Ended June 30, |  |  | 
 | 2019 | 2018 | $ Change | % Change
 |  | (U.S. $ in thousands) |  | 
 |  | *As Adjusted |  | 
Subscription | $633,950 | $410,694 | $223,256 | 54%
Maintenance | 394,526 | 326,511 | 68,015 | 21
Perpetual license | 93,593 | 83,171 | 10,422 | 13
Other | 88,058 | 60,602 | 27,456 | 45
Total revenues | $1,210,127 | $880,978 | $329,149 | 37


Question: What was the increase of perpetual license revenues from fiscal year ended 2018 to 2019?
Answer: $10.4 million
Note 22. Supplemental Financial Information
Cash paid for income taxes amounted to $77.6 million, $25.9 million and $48.4 million during fiscal 2019, 2018 and 2017, respectively. Cash paid for interest on borrowings amounted to $347.9 million, $85.3 million and $82.5 million during fiscal 2019, 2018 and 2017, respectively.
A summary of additions and deductions related to the valuation allowance for deferred tax asset accounts for the years ended March 31, 2019, 2018 and 2017 follows (amounts in millions):
Table:
 | Balance at Beginning of Year | Additions Charged to Costs and Expenses | Additions Charged to Other Accounts | Deductions | Balance at End of Year
Valuation allowance for deferred tax assets: |  |  |  |  | 
Fiscal 2019 | $204.5 | $16.2 | $175.8 | $(64.4) | $332.1
Fiscal 2018 | $210.1 | $36.2 | $— | $(41.8) | $204.5
Fiscal 2017 | $161.8 | $15.2 | $37.6 | $(4.5) | $210.1


Question: How many years did the balance at beginning of year exceed $200 million?
Answer: 2
Calculation: 2019##2018