hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
entergy texas , inc . and subsidiaries management 2019s financial discussion and analysis results of operations net income 2017 compared to 2016 net income decreased $ 31.4 million primarily due to lower net revenue , higher depreciation and amortization expenses , higher other operation and maintenance expenses , and higher taxes other than income taxes . 2016 compared to 2015 net income increased $ 37.9 million primarily due to lower other operation and maintenance expenses , the asset write-off of its receivable associated with the spindletop gas storage facility in 2015 , and higher net revenue . net revenue 2017 compared to 2016 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges . following is an analysis of the change in net revenue comparing 2017 to 2016 . amount ( in millions ) .

Table:
 | amount ( in millions )
2016 net revenue | $ 644.2
net wholesale revenue | -35.1 ( 35.1 )
purchased power capacity | -5.9 ( 5.9 )
transmission revenue | -5.4 ( 5.4 )
reserve equalization | 5.6
retail electric price | 19.0
other | 4.4
2017 net revenue | $ 626.8
the net wholesale revenue variance is primarily due to lower net capacity revenues resulting from the termination of the purchased power agreements between entergy louisiana and entergy texas in august 2016 .
the purchased power capacity variance is primarily due to increased expenses due to capacity cost changes for ongoing purchased power capacity contracts .
the transmission revenue variance is primarily due to a decrease in the amount of transmission revenues allocated by miso .
the reserve equalization variance is due to the absence of reserve equalization expenses in 2017 as a result of entergy texas 2019s exit from the system agreement in august 2016 .
see note 2 to the financial statements for a discussion of the system agreement. .

Question: what was the ratio of the change in net revenue to the increase in net income in 2016
Answer: 17
Calculation: divide(644.2, 37.9)
21 Cash and Cash Equivalents
Cash at bank earns interest at floating rates based on daily bank deposit rates. Short-term deposits are made for varying periods of between one day and three months, depending on the immediate cash requirements of the Group, and earn interest at the respective short-term deposit rates.
Table:
 | 31 March 2019 | 31 March 2018
 | $M | $M
Cash at bank and in hand | 134.3 | 67.2
Short-term deposits | 37.8 | 52.8
Total cash and cash equivalent | 172.1 | 120.0


Question: What are short-term deposits made for?
Answer: for varying periods of between one day and three months, depending on the immediate cash requirements of the Group, and earn interest at the respective short-term deposit rates.
ADJUSTED NET DEBT AND DEBT LEVERAGE RATIO
We use adjusted net debt and debt leverage ratio to conduct valuation-related analysis and make capital structure-related decisions. Adjusted net debt includes long-term debt, net debt derivative assets or liabilities, short-term borrowings, and cash and cash equivalents.
1 Includes current and long-term portion of long-term debt before deferred transaction costs and discounts. See “Reconciliation of adjusted net debt” in “Non-GAAP Measures and Related Performance Measures” for the calculation of this amount. 2 For purposes of calculating adjusted net debt and debt leverage ratio, we believe including debt derivatives valued without adjustment for credit risk is commonly used to evaluate debt leverage and for market valuation and transactional purposes.
3 See “Accounting Policies” for more information. 4 Adjusted net debt and adjusted EBITDA are non-GAAP measures and should not be considered substitutes or alternatives for GAAP measures. These are not defined terms under IFRS and do not have standard meanings, so may not be a reliable way to compare us to other companies. See “Non-GAAP Measures and Related Performance Measures” for information about these measures, including how we calculate themand the debt leverage ratio inwhich they are used.
As a result of our adoption of IFRS 16 effective January 1, 2019, we
have modified our definition of adjusted net debt such that it now includes the total of “current portion of lease liabilities” and “lease liabilities”. We believe adding total lease liabilities to adjusted net debt is appropriate as they reflect payments to which we are contractually committed and the related payments have been removed from our calculation of adjusted EBITDA due to the accounting change.
In addition, as at December 31, 2019, we held $1,831 million of
marketable securities in publicly traded companies (2018 – $1,051 million). Our adjusted net debt increased by $3,379 million from December 31, 2018 as a result of: • the inclusion of lease liabilities in the calculation, which had a balance of $1,725 million at year-end, as discussed above; and • a net increase in our outstanding long-term debt, in part due to the 600 MHz spectrum licences we acquired for $1,731 million this year; partially offset by • an increase in our net cash position.
See “Overview of Financial Position” for more information.
Table:
 | As at December 31 | As at January 1 | As at December 31
(In millions of dollars, except ratios) | 2019 | 2019 | 2018
Long-term debt 1 | 16,130 | 14,404 | 14,404
Net debt derivative assets valued without any adjustment for credit risk 2 | (1,414) | (1,448) | (1,448)
Short-term borrowings | 2,238 | 2,255 | 2,255
Lease liabilities 3 | 1,725 | 1,545 | –
Cash and cash equivalents | (494) | (405) | (405)
Adjusted net debt 4 | 18,185 | 16,351 | 14,806
Divided by: trailing 12-month adjusted EBITDA 4 | 6,212 | 6,157 | 5,983
Debt leverage ratio 4 | 2.9 | 2.7 | 2.5


Question: What is the increase/ (decrease) in Long-term debt from December 31, 2018 to December 31, 2019?
Answer: 1726
Calculation: 16,130-14,404
mastercard incorporated notes to consolidated financial statements 2014 ( continued ) ( in thousands , except percent and per share data ) the following table summarizes expected benefit payments through 2019 for the pension plans , including those payments expected to be paid from the company 2019s general assets . since the majority of the benefit payments are made in the form of lump-sum distributions , actual benefit payments may differ from expected benefit payments. .

Table:
2010 | $ 18181
2011 | 27090
2012 | 21548
2013 | 25513
2014 | 24002
2015-2019 | 128494
substantially all of the company 2019s u.s .
employees are eligible to participate in a defined contribution savings plan ( the 201csavings plan 201d ) sponsored by the company .
the savings plan allows employees to contribute a portion of their base compensation on a pre-tax and after-tax basis in accordance with specified guidelines .
the company matches a percentage of employees 2019 contributions up to certain limits .
in 2007 and prior years , the company could also contribute to the savings plan a discretionary profit sharing component linked to company performance during the prior year .
beginning in 2008 , the discretionary profit sharing amount related to prior year company performance was paid directly to employees as a short-term cash incentive bonus rather than as a contribution to the savings plan .
in addition , the company has several defined contribution plans outside of the united states .
the company 2019s contribution expense related to all of its defined contribution plans was $ 40627 , $ 35341 and $ 26996 for 2009 , 2008 and 2007 , respectively .
note 13 .
postemployment and postretirement benefits the company maintains a postretirement plan ( the 201cpostretirement plan 201d ) providing health coverage and life insurance benefits for substantially all of its u.s .
employees hired before july 1 , 2007 .
the company amended the life insurance benefits under the postretirement plan effective january 1 , 2007 .
the impact , net of taxes , of this amendment was an increase of $ 1715 to accumulated other comprehensive income in 2007 .
in 2009 , the company recorded a $ 3944 benefit expense as a result of enhanced postretirement medical benefits under the postretirement plan provided to employees that chose to participate in a voluntary transition program. .

Question: what was the ratio of the benefit payments for 2010 to 2011
Answer: 0.67
Calculation: divide(18181, 27090)
as of december 31 , 2017 , the aggregate future minimum payments under non-cancelable operating leases consist of the following ( in thousands ) : years ending december 31 .

Table:
2018 | $ 9127
2019 | 8336
2020 | 8350
2021 | 7741
2022 | 7577
thereafter | 9873
total minimum future lease payments | $ 51004
rent expense for all operating leases amounted to $ 9.4 million , $ 8.1 million and $ 5.4 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively .
financing obligation 2014build-to-suit lease in august 2012 , we executed a lease for a building then under construction in santa clara , california to serve as our headquarters .
the lease term is 120 months and commenced in august 2013 .
based on the terms of the lease agreement and due to our involvement in certain aspects of the construction , we were deemed the owner of the building ( for accounting purposes only ) during the construction period .
upon completion of construction in 2013 , we concluded that we had forms of continued economic involvement in the facility , and therefore did not meet with the provisions for sale-leaseback accounting .
we continue to maintain involvement in the property post construction and lack transferability of the risks and rewards of ownership , due to our required maintenance of a $ 4.0 million letter of credit , in addition to our ability and option to sublease our portion of the leased building for fees substantially higher than our base rate .
therefore , the lease is accounted for as a financing obligation and lease payments will be attributed to ( 1 ) a reduction of the principal financing obligation ; ( 2 ) imputed interest expense ; and ( 3 ) land lease expense , representing an imputed cost to lease the underlying land of the building .
at the conclusion of the initial lease term , we will de-recognize both the net book values of the asset and the remaining financing obligation .
as of december 31 , 2017 and 2016 , we have recorded assets of $ 53.4 million , representing the total costs of the building and improvements incurred , including the costs paid by the lessor ( the legal owner of the building ) and additional improvement costs paid by us , and a corresponding financing obligation of $ 39.6 million and $ 41.2 million , respectively .
as of december 31 , 2017 , $ 1.9 million and $ 37.7 million were recorded as short-term and long-term financing obligations , respectively .
land lease expense under our lease financing obligation amounted to $ 1.3 million for each of the years ended december 31 , 2017 , 2016 and 2015 respectively. .

Question: what are the total financial obligations as of december 31 , 2107?
Answer: 39.6
Calculation: add(1.9, 37.7)
Cost of Revenue
Cost of revenue increased by $15.3 million in 2018 compared to 2017. The increase was primarily due to a $7.2 million increase in employee-related costs, which includes stock-based compensation, associated with our increased headcount from 128 employees as of December 31, 2017 to 173 employees as of December 31, 2018. The remaining increase was principally the result of a $7.0 million increase in hosting, software and messaging costs, a $0.6 million increase attributed to office related expenses to support revenue generating activities and a $0.4 million increase in depreciation and amortization expense attributable to our acquired intangible assets.
Gross margin percentage decreased due to our continued investment in personnel and infrastructure to support our growth in revenue.
Table:
 | Year Ended December 31, |  | Change | 
 | 2018 | 2017 | $ | %
 |  | (dollars in thousands) |  | 
Cost of revenue | $ 46,810 | $ 31,503 | $ 15,307 | 48.6%
Gross margin % | 68% | 70% |  | 


Question: What caused the decrease in gross margin percentage?
Answer: due to our continued investment in personnel and infrastructure to support our growth in revenue.
Share buybacks
On 28 January 2019, Vodafone announced the commencement of a new irrevocable and non-discretionary share buy-back programme. The sole purpose of the programme was to reduce the issued share capital of Vodafone and thereby avoid any change in Vodafone’s issued share capital as a result of the maturing of the second tranche of the mandatory convertible bond (‘MCB’) in February 2019.
In order to satisfy the second tranche of the MCB, 799.1 of million shares were reissued from treasury shares on 25 February 2019 at a conversion price of £1.8021. This reflected the conversion price at issue (£2.1730) adjusted for the pound sterling equivalent of aggregate dividends paid from August 2016 to February 2019.
The share buyback programme started in February 2019 and is expected to complete by 20 May 2019. Details of the shares purchased under the programme, including those purchased under irrevocable instructions, are shown below.
Table:
 | Number of shares purchased | Average price paid per share inclusive of transaction costs | Total number of shares purchased under publicly announced share buyback programme | Maximum number of shares that may yet be purchased under the programme
Date of share purchase | 000s | Pence | 000s | 000s
February 2019 | 14,529 | 135.17 | 14,529 | 784,539
March 2019 | 305,099 | 140.56 | 319,628 | 479,440
April 2019 | 290,570 | 142.20 | 610,198 | 188,870
May 2019 (to date) | 116,228 | 140.11 | 726,426 | 72,642
Total | 726,426 | 141.04 | 726,426 | 72,642


Question: When is the share buyback programme expected to be completed?
Answer: 20 May 2019
11 Intangible assets
(a) Intangible assets
RIGHTS AND LICENCES
Certain licences that NEXTDC possesses have an indefinite useful life and are carried at cost less impairment losses and are subject to impairment review at least annually and whenever there is an indication that it may be impaired.
Other licences that NEXTDC acquires are carried at cost less accumulated amortisation and accumulated impairment losses. Amortisation is recognised on a straight-line basis over the estimated useful life. The estimated useful life and amortisation method are reviewed at the end of each annual reporting period.
INTERNALLY GENERATED SOFTWARE
Internally developed software is capitalised at cost less accumulated amortisation. Amortisation is calculated using the straight-line basis over the asset’s useful economic life which is generally two to three years. Their useful lives and potential impairment are reviewed at the end of each financial year.
SOFTWARE UNDER DEVELOPMENT
Costs incurred in developing products or systems and costs incurred in acquiring software and licenses that will contribute to future period financial benefits through revenue generation and/or cost reduction are capitalised to software and systems. Costs capitalised include external direct costs of materials and services and employee costs.
Assets in the course of construction include only those costs directly attributable to the development phase and are only recognised following completion of technical feasibility and where the Group has an intention and ability to use the asset.
Table:
 | Rights and licences | Internally generated software | Software under development | Total
Movements | $'000 | $'000 | $'000 | $'000
30 June 2019 |  |  |  | 
Opening net book amount at 1 July 2018 | 13 | 6,385 | 6,509 | 12,907
Additions – internally developed | - | - | 11,896 | 11,896
Amortisation | - | (1,116) | - | (1,116)
Transfers between classes | - | 2,121 | (2,121) | -
Disposals | - | (9) | - | (9)
Closing net book amount | 13 | 7,381 | 16,284 | 23,678


Question: What was the total closing net book account at 30 June 2019?
Answer: 23,678
Geographic Information
The following table is a summary of our long-lived assets which include property and equipment, net and right of use assets based on the physical location of the assets (in thousands):
Table:
 | December 31, | December 31,
 | 2019 | 2018
United States | $35,964 | $5,525
Japan | 2,689 | 1,108
Other | 2,017 | 629
Total | $40,670 | $7,262


Question: What kind of asset data is described in the table?
Answer: long-lived assets which include property and equipment, net and right of use assets based on the physical location of the assets
Items Not Resulting in a Deferred Tax Asset
Of the unused tax losses, €187 million (2018: €213 million; 2017: €263 million) relate to U.S. state tax loss carryforwards.
We have not recognized a deferred tax liability on approximately €17.41 billion (2018: €14.04 billion) for undistributed profits of our subsidiaries, because we are in a position to control the timing of the reversal of the temporary difference and it is probable that such differences will not reverse in the foreseeable future.
Table:
€ millions | 2019 | 2018 | 2017
Unused tax losses |  |  | 
Not expiring | 688 | 575 | 375
Expiring in the following year | 63 | 7 | 9
Expiring after the following year | 373 | 476 | 535
Total unused tax losses | 1,124 | 1,058 | 919
Deductible temporary differences | 538 | 509 | 524
Unused research and development and foreign tax credits |  |  | 
Not expiring | 28 | 54 | 38
Expiring in the following year | 0 | 0 | 2
Expiring after the following year | 17 | 18 | 34
Total unused tax credits | 45 | 72 | 74


Question: What was the percentage change in the amount Expiring after the following year in 2019 from 2018?
Answer: -5.56
Calculation: (17-18)/18
Note 12. Liabilities
The components of accounts payable, accrued expenses and other current liabilities are as follows (in thousands):
Table:
 | December 31, 2019 | December 31, 2018
Deferred rent | $ — | $11,656
Contingent consideration liability from acquisitions | 2,595 | —
Holdback liability from acquisitions | 1,650 | —
Other liabilities | 3,244 | 1,650
Other liabilities | $7,489 | $13,306


Question: How much were other liabilities in 2019?
Answer: 3,244
Comparison of Fiscal Year Ended September 28, 2018 to Fiscal Year Ended September 29, 2017
We acquired AppliedMicro on January 26, 2017 and certain assets of Picometrix on August 9, 2017, and we divested the Compute business on October 27, 2017 and our LR4 business on May 10, 2018. For additional information related to acquisitions and divestitures refer to Note 4 - Acquisitions and Note 23 - Divested Business and Discontinued Operations, respectively, in this Annual Report.
Our annual Statements of Operations includes activity since the dates of acquisition for AppliedMicro and Picometrix and excludes activity for the Compute business and LR4 business after the date of the divestiture, representing less than twelve months of activity for AppliedMicro and Picometrix for the fiscal year ended September 29, 2017.
Revenue. In fiscal year 2018, our revenue decreased by $128.4 million, or 18.4%, to $570.4 million from $698.8 million for fiscal year 2017. Revenue from our primary markets, the percentage of change between the years and revenue by primary markets expressed as a percentage of total revenue were (in thousands, except percentages):
In fiscal year 2018, our Telecom market revenue decreased by $117.1 million, or 34.4%, compared to fiscal year 2017. The decrease was primarily due to lower sales of carrier-based optical semiconductor products to our Asia customer base, lower sales of products targeting fiber to the home applications and the May 2018 sale of our LR4 business.
In fiscal year 2018, our Data Center market revenue decreased by $10.4 million, or 6.0%, compared to fiscal year 2017. The decrease was primarily due to decreased revenue from sales of legacy optical products and lasers and cloud data center applications.
In fiscal year 2018, our I&D market revenues decreased by $0.9 million, or 0.5%, compared to fiscal year 2017. The decrease was primarily related to lower certain legacy defense products partially offset by higher revenue across other areas within the product portfolio.
Table:
 |  Fiscal Years   |  | 
 | 2018 | 2017 | % Change
Telecom | $222,940 | $340,022 | (34.4)%
Data Center | 162,098 | 172,481 | (6.0)%
Industrial & Defense | 185,360 | 186,269 | (0.5)%
 | 570,398 | 698,772 | (18.4)%
Telecom | 39.1% | 48.6% | 
Data Center | 28.4% | 24.7% | 
Industrial & Defense | 32.5% | 26.7% | 
Total | 100.0% | 100.0% | 


Question: What is the average Telecom value for fiscal year 2017 and 2018?
Answer: 281481
Calculation: (222,940+340,022) / 2
The Group’s associates are considered to be related parties.
As at 30 March 2019 the following are also considered to be related parties under the Listing Rules due to their shareholdings exceeding 10% of the Group’s total issued share capital:
− Nissin Foods Holdings Co., Ltd. (“Nissin”) is considered to be a related party to the Group by virtue of its 19.47% (2017/18: 19.57%) equity shareholding in Premier Foods plc and of its power to appoint a member to the Board of directors.− Oasis Management Company Ltd (“Oasis”) is considered to be a related party to the Group by virtue of its 11.99% (2017/18: 9.01%) equity shareholding in Premier Foods plc and of its power to appoint a member to the Board of directors.
− Paulson Investment Company LLC, (“Paulson”) is considered to be a related party to the Group by virtue of its 11.98% (2017/18: 7.39%) equity shareholding in Premier Foods plc and of its power to appoint a member to the Board of directors.
As at 30 March 2019 the Group had outstanding balances with Hovis. Total trade receivables was £0.9m (2017/18: £0.5m) and total trade payables was £0.6m (2017/18: £2.5m).
Table:
 | 52 weeks ended | 52 weeks ended
 | 30 Mar 2019 | 31 Mar 2018
 | £m | £m
Sale of goods: |  | 
– Hovis | 0.3 | 0.3
Sale of services: |  | 
– Hovis | 0.7 | 0.7
– Nissin | 0.2 | 0.1
Total sales | 1.2 | 1.1
Purchase of goods: |  | 
– Hovis | 6.3 | 11.9
– Nissin | 10.3 | 7.1
Total purchases | 16.6 | 19.0


Question: What was the total trade receivables in 2019?
Answer: £0.9m
Cash used in investing activities
Detail of the cash used in investing activities is included below for each year (dollars in millions).
2019 vs. 2018. The $8.8 million higher spend on investing activities during 2019 compared to 2018 was primarily related to an increase in capitalized costs associated with various internally-developed software projects, such as mobile application development and transaction processing, an increase in hardware costs primarily associated with our growing infrastructure needs and an increase in leasehold improvements associated with security build outs of expanded office space.
2018 vs. 2017. We had net cash used in investing activities of $6.6 million during 2018 compared to $4.1 million during 2017. The higher spend in 2018 was primarily related to an increase in software expenditures, most of which were capitalized costs related to internally-developed software, which consisted primarily of merchant experience enhancements and mobile application development. This activity was partially offset by lower infrastructure expenditures in 2018 compared to 2017, as we did not have any material changes to our leased premises during 2018.
Table:
 |  | Year Ended December 31, | 
 | 2019 | 2018 | 2017
Software | $12.7 | $5.4 | $2.3
Computer hardware | 1.2 | 0.8 | 0.8
Leasehold improvements | 0.9 | 0.2 | 0.5
Furniture | 0.6 | 0.2 | 0.5
Purchases of property, equipment and software | $15.4 | $6.6 | $4.1


Question: What was the percentage change in the Purchases of property, equipment and software between 2018 and 2019?
Answer: 133.33
Calculation: (15.4-6.6)/6.6