hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (in thousands, except for share and per share data)
Contract Assets and Liabilities
Contract assets and liabilities included in our Consolidated Balance Sheets are as follows:
During the twelve months ended December 31, 2019, we recognized revenues of $256 that was included in contract liabilities at the beginning of the period.
Table:
 | As of December 31, | 
 | 2019 | 2018
Contract Assets |  | 
Prepaid rebates included in Other current assets | $64 | $65
Prepaid rebates included in Other assets | 1,853 | 999
Total Contract Assets | $1,917 | $1,064
Contract Liabilities |  | 
Customer discounts and price concessions included in Accrued expenses and other liabilities | $(2,070) | $(1,656)
Customer rights of return included in Accrued expenses and other liabilities | (807) | (325)
Total Contract Liabilities | $(2,877) | $(1,981)


Question: What was the percentage change in total contract liabilities between 2018 and 2019?
Answer: 45.23
Calculation: (-2,877-(-1,981))/-1,981
During the three months ended June 30, 2018, the Company adopted ASU 2016-18-Statement of Cash Flows: Restricted Cash. This standard requires that the statement of cash flows explain the change during the period in total cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The standard has been applied using a retrospective transition method to each period presented. The adoption of this standard did not have a material impact on the Company's financial statements.
The following table summarizes the opening balance sheet adjustments related to the adoption of the New Revenue Standard, ASU 2016-01-Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities, and ASU 2016-16-Intra-Entity Transfers of Assets Other Than Inventory (in millions):
Table:
 | Balance as of |  | Adjustments from |  | Balance as of
 | March 31, 2018 | ASC 606 | ASU 2016-01 | ASU 2016-16 | April 1, 2018
ASSETS |  |  |  |  | 
Accounts receivable, net | $563.7 | $340.1 | $— | $— | $903.8
Inventories | $476.2 | $(5.1) | $— | $— | $471.1
Other current assets | $119.8 | $17.2 | $— | $— | $137.0
Long-term deferred tax assets | $100.2 | $(23.1) | $— | $1,579.4 | $1,656.5
Other assets | $71.8 | $— | $— | $(24.1) | $47.7
LIABILITIES |  |  |  |  | 
Accrued liabilities | $229.6 | $404.2 | $— | $— | $633.8
Deferred income on shipments to distributors | $333.8 | $(333.8) | $— | $— | $—
Long-term deferred tax liability | $205.8 | $16.8 | $— | $(1.1) | $221.5
Other long-term liabilities | $240.9 | $— | $— | $(1.7) | $239.2
STOCKHOLDERS' EQUITY |  |  |  |  | 
Accumulated other comprehensive loss | $(17.6) | $— | $(1.7) | $— | $(19.3)
Retained earnings | $1,397.3 | $241.9 | $1.7 | $1,558.1 | $3,199.0


Question: What was the balance of Inventories on April 1, 2018?
Answer: 471.1
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (in thousands, except for share and per share data)
The components of the prepaid (accrued) cost of the domestic and foreign pension plans are classified in the following lines in the Consolidated Balance Sheets at December 31:
Table:
 | U.S.Pension Plans |  | Non-U.S. Pension Plans | 
 | 2019 | 2018 | 2019 | 2018
Prepaid pension asset | $62,082 | $54,100 | $— | $—
Accrued expenses and other liabilities | (100) | (100) | — | —
Long-term pension obligations | (1,045) | (992) | (1,214) | (1,331)
Net prepaid (accrued) cost | $60,937 | $53,008 | $(1,214) | $(1,331)


Question: What was the Prepaid pension asset for U.S. Pension Plans in 2018?
Answer: 54,100
On a worldwide basis, the Company's defined benefit pension plans were 88% funded as of January 31, 2019.
As of January 31, 2019, the aggregate accumulated benefit obligation was $85.1 million for the defined benefit pension plans compared to $139.5 million as of January 31, 2018. Included in the aggregate data in the following tables are the amounts applicable to the Company's defined benefit pension plans, with accumulated benefit obligations in excess of plan assets, as well as plans with projected benefit obligations in excess of plan assets. Amounts related to such plans at the end of each period were as follows: because their exercise prices are higher than the average market value of Autodesk’s stock during the fiscal year.
Table:
 | Fiscal Year Ended January 31, | 
 | 2019 | 2018
Plans with accumulated benefit obligations in excess of plan assets: |  | 
Accumulated benefit obligations | $75.6 | $130.7
Plan assets | 70.0 | 112.1
Plans with projected benefit obligations in excess of plan assets: |  | 
Projected benefit obligations | $91.6 | $158.1
Plan assets | 80.8 | 121.1


Question: How much are the projected benefit obligations for 2019?
Answer: $91.6
Earnings per Share—Basic earnings per share were calculated using net earnings and the weighted-average number of shares of common stock outstanding during the respective year. Diluted earnings per share were calculated using net earnings and the weighted-average number of shares of common stock and potential common stock associated with stock options outstanding during the respective year. The effects of potential common stock were determined using the treasury stock method:
As of and for the years ended December 31, 2019, 2018 and 2017, there were 0.627, 0.724 and 0.478 outstanding stock options, respectively, that were not included in the determination of diluted earnings per share because doing so would have been antidilutive.
Table:
Years ended December 31, |  |  | 
 | 2019 | 2018 | 2017
Basic weighted-average shares outstanding | 103.9 | 103.2 | 102.2
Effect of potential common stock: |  |  | 
Common stock awards | 1.2 | 1.2 | 1.3
Diluted weighted-average shares outstanding | 105.1 | 104.4 | 103.5


Question: How is basic earning per share calculated?
Answer: using net earnings and the weighted-average number of shares of common stock outstanding during the respective year
Liquidity and Capital Resources
We believe our ability to generate cash flows from operating activities is one of our fundamental financial strengths. In the near term, we expect our business and financial condition to remain strong and to continue to generate significant operating cash flows, which, we believe, in combination with our existing balance of cash and cash equivalents and short-term investments of $5.9 billion, our access to capital, and the availability of our $1.5 billion revolving credit facility, will be sufficient to finance our operational and financing requirements for the next 12 months. Our primary sources of liquidity, which are available to us to fund cash outflows such as potential dividend payments or share repurchases, and scheduled debt maturities, include our cash and cash equivalents, short-term investments, and cash flows provided by operating activities.
As of December 31, 2019, the amount of cash and cash equivalents held outside of the U.S. by our foreign subsidiaries was $2.8 billion, as compared to $1.4 billion as of December 31, 2018. These cash balances are generally available for use in the U.S., subject in some cases to certain restrictions.
Our cash provided from operating activities is somewhat impacted by seasonality. Working capital needs are impacted by weekly sales, which are generally highest in the fourth quarter due to seasonal and holiday-related sales patterns. We consider, on a continuing basis, various transactions to increase shareholder value and enhance our business results, including acquisitions, divestitures, joint ventures, share repurchases, and other structural changes. These transactions may result in future cash proceeds or payments.
Sources of Liquidity (amounts in millions)
Table:
 | For the Years Ended December 31, |  | 
 | 2019 | 2018 | Increase (Decrease)
Cash and cash equivalents | $5,794 | $4,225 | $1,569
Short-term investments | 69 | 155 | (86)
 | $5,863 | $4,380 | $1,483
Percentage of total assets | 30% | 24% | 


Question: What is the cash and cash equivalents in 2019?
Answer: 5,794
ADVANCED ENERGY INDUSTRIES, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (continued) (in thousands, except per share amounts)
The following table presents our unaudited pro forma results for the acquisitions of Artesyn and LumaSense:
The unaudited pro forma results for all periods presented include adjustments made to account for certain costs and transactions that would have been incurred had the acquisitions been completed at the beginning of the year prior to the year of acquisition. These include adjustments to amortization charges for acquired intangible assets, interest and financing expenses, transaction costs, amortization of purchased gross profit and the alignment of various accounting policies. These adjustments are net of any applicable tax impact and were included to arrive at the pro forma results above.
Artesyn’s operating results have been included in the Advanced Energy’s operating results for the periods subsequent to the completion of the acquisition on September 10, 2019. During the year ended December 31, 2019, Artesyn contributed total sales of $220.3 million and net income of $7.1 million, including interest and other expense associated with the financing of the transaction.
Table:
 |  |  | Year Ended December 31, | 
 | 2019 |  | 2018 | 
 | As Reported | Pro Forma | As Reported | Pro Forma
Total sales | $788,948 | $1,202,790 | $718,892 | $1,350,037
Net income attributable to Advanced Energy Industries, Inc. | $64,941 | $83,104 | $147,025 | $158,422
Earnings per share: |  |  |  | 
Basic earnings per share | $1.70 | $2.17 | $3.76 | $4.05
Diluted earnings per share | $ 1.69 | $ 2.16 | $ 3.74 | $ 4.03


Question: What does the table show?
Answer: unaudited pro forma results for the acquisitions of Artesyn and LumaSense
As of December 31, 2019, we had 19,577 employees, which included 11,328 engineers, 7,416 technicians and 833 administrative staff performing administrative functions on a consolidated basis. We have in the past implemented, and may in the future evaluate the need to implement, labor redundancy plans based on the work performance of our employees.
Employee salaries are reviewed annually. Salaries are adjusted based on industry standards, inflation and individual performance. As an incentive, additional bonuses in cash may be paid at the discretion of management based on the performance of individuals. In addition, except under certain circumstances, R.O.C. law requires us to reserve from 10% to 15% of any offerings of our new common shares for employees’ subscription.
Our employees participate in our profit distribution pursuant to our articles of incorporation. Employees are entitled to receive additional bonuses based on a certain percentage of our allocable surplus income. On February 26, 2020, our board of directors proposed an employee bonus in cash in the aggregate amount of NT$1,133 million (US$38 million) in relation to retained earnings in 2019.
Our employees are not covered by any collective bargaining agreements. We believe we have a good relationship with our employees.
Table:
 |  | As of December 31, | 
 | 2017 | 2018 | 2019
Employees |  |  | 
Engineers | 11,846 | 11,651 | 11,328
Technicians | 7,432 | 7,494 | 7,416
Administrative Staff | 798 | 784 | 833
Total | 20,076 | 19,929 | 19,577


Question: What is the average number of Technicians employed?
Answer: 7447.33
Calculation: (7,432+7,494+7,416) / 3
SELECTED FINANCIAL DATA
The following data should be read in conjunction with the consolidated financial statements and accompanying notes included elsewhere in the Annual Report on Form 10-K. Fiscal 2018 and 2017 have been recast to reflect the Company’s retrospective adoption of Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers, and related amendments, collectively referred to as Accounting Standards Codification (“ASC”) 606. Fiscal 2016 and 2015 were not recast. Net income for fiscal 2018 and 2019 has been impacted by the reduced U.S. corporate tax rate enacted by the Tax Cuts and Jobs Act (“TCJA”) of 2017, and fiscal 2018 net income contains the related adjustment for the re-measurement of deferred taxes. Acquisitions have affected revenue and net income in fiscal 2019 as well as the historical periods presented.
(1) Revenue includes license sales, support and service revenues, and hardware sales, less returns and allowances.
Table:
 |  |  | (In Thousands, Except Per Share Data) |  | 
 |  |  | YEAR ENDED JUNE 30, |  | 
Income Statement Data | 2019 | 2018 | 2017 | 2016 | 2015
 |  |  |  | *Unadjusted | *Unadjusted
Revenue (1) | $1,552,691 | $1,470,797 | $1,388,290 | $1,354,646 | $1,256,190
Net Income | $271,885 | $365,034 | $229,561 | $248,867 | $211,221
Basic earnings per share | $3.52 | $4.73 | $2.95 | $3.13 | $2.60
Diluted earnings per share | $3.52 | $4.70 | $2.93 | $3.12 | $2.59
Dividends declared per share | $1.54 | $1.36 | $1.18 | $1.06 | $0.94
Balance Sheet Data |  |  |  |  | 
Total deferred revenue | $394,306 | $369,915 | $368,151 | $521,054 | $531,987
Total assets | $2,184,829 | $2,033,058 | $1,868,199 | $1,815,512 | $1,836,835
Long-term debt | $— | $— | $50,000 | $— | $50,102
Stockholders’ equity | $1,429,013 | $1,322,844 | $1,099,693 | $996,210 | $991,534


Question: What is the average revenue for 2018 and 2019?
Answer: 1511744
Calculation: ($1,552,691+$1,470,797)/2
We believe our success in attracting these end customers is a direct result of our commitment to high quality service and our intense focus on customer needs and performance. As an independent semiconductor foundry, most of our operating revenue is generated by our sales of wafers. The following table presented the percentages of our wafer sales by types of customers for the years ended December 31, 2017, 2018 and 2019.
We focus on providing a high level of customer service in order to attract customers and maintain their ongoing loyalty. Our culture emphasizes responsiveness to customer needs with a focus on flexibility, speed and accuracy throughout our manufacturing and delivery processes. Our customer oriented approach is especially evident in two types of services: customer design development services and manufacturing services.
For example, in 2013, we expand our regional business by opening our UMC Korea office, in order to provide local support to our customers in Korea, and shorten time-to-market for our Korea-based customers designing and manufacturing on UMC process technologies. We believe that our large production capacity and advanced process technology enable us to provide better customer service than many other foundries through shorter turn-around time, greater manufacturing flexibility and higher manufacturing yields.
Table:
 |  | Years Ended December 31, | 
Customer Type | 2017 | 2018 | 2019
 | % | % | %
Fabless design companies | 91.0 | 92.4 | 91.3
Integrated device manufacturers | 9.0 | 7.6 | 8.7
Total | 100.0 | 100.0 | 100.0


Question: What is the average of Integrated device manufacturers?
Answer: 8.43
Calculation: (9.0% + 7.6% + 8.7%) / 3
Key Performance Indicators
Key performance indicators, which we do not consider to be non-GAAP measures, that we use to evaluate our business, measure our performance, identify trends affecting our business, formulate financial projections and make strategic decisions include Monthly Recurring Revenue ("MRR") and Gross Merchandise Volume ("GMV"). Our key performance indicators may be calculated in a manner different than similar key performance indicators used by other companies.
The following table shows MRR and GMV for the years ended December 31, 2019 and 2018.
Table:
 | Years ended December 31, | 
 | 2019 | 2018
 | (in thousands) | 
Monthly Recurring Revenue | $53,898 | $40,932
Gross Merchandise Volume | $61,138,457 | $41,103,238


Question: Which financial years' information is shown in the table?
Answer: 2018, 2019
AMERICAN TOWER CORPORATION AND SUBSIDIARIES SCHEDULE III—SCHEDULE OF REAL ESTATE AND ACCUMULATED DEPRECIATION (dollars in millions)
(1) Includes amounts incurred primarily for the construction of new sites.
(2) Includes amounts incurred to purchase or otherwise secure the land under communications sites.
(3) Includes amounts incurred to increase the capacity of existing sites, which results in new incremental tenant revenue.
(4) Includes amounts incurred to enhance existing sites by adding additional functionality, capacity or general asset improvements.
(5) Includes amounts incurred in connection with acquisitions or new market launches. Start-up capital expenditures includes non-recurring expenditures contemplated in acquisitions, new market launch business cases or initial deployment of new technologies or innovation solutions that lead to an increase in sitelevel cash flow generation.
(6) Primarily includes regional improvements and other additions.
(7) Primarily includes foreign currency exchange rate fluctuations and other deductions.
Table:
 | 2019 | 2018 | 2017
Gross amount at beginning | $15,960.1 | $15,349.0 | $14,277.0
Additions during period: |  |  | 
Acquisitions | 887.0 | 721.4 | 499.7
Discretionary capital projects (1) | 258.1 | 173.5 | 120.7
Discretionary ground lease purchases (2) | 189.8 | 180.4 | 150.4
Redevelopment capital expenditures (3) | 213.6 | 177.3 | 138.8
Capital improvements (4) | 161.2 | 94.0 | 65.6
Start-up capital expenditures (5) | 71.3 | 113.1 | 158.1
Other (6) | 45.2 | (3.0) | 106.4
Total additions | 1,826.2 | 1,456.7 | 1,239.7
Deductions during period: |  |  | 
Cost of real estate sold or disposed | (304.6) | (395.7) | (246.5)
Other (7) | (52.4) | (449.9) | 78.8
Total deductions: | (357.0) | (845.6) | (167.7)
Balance at end | $17,429.3 | $15,960.1 | $15,349.0


Question: How much was Acquisitions in 2019?
Answer: 887.0
American Tower Corporation • 2019 Annual Report
Appendix 1 • Letter to Stakeholders
RETURN ON INVESTED CAPITAL (ROIC) RECONCILIATION1 ($ in millions. Totals may not add due to rounding.)
1 Historical denominator balances reflect purchase accounting adjustments
2 Represents Q4 2015 annualized numbers to account for full year impact of Verizon Transaction.
3 Represents Q4 2016 annualized numbers to account for full year impact of Viom Transaction
4 Adjusted to annualize impacts of acquisitions closed throughout the year.
5 Positively impacted by the Company's settlement with Tata in Q4 2018.
6 Excludes the impact of deferred tax adjustments related to valuation.
Table:
 | 2015 2 | 2016 3 | 2017 4 | 2018 4,5 | 2019 4
Adjusted EBITDA | $3,206 | $3,743 | $4,149 | $4,725 | $4,917
Cash Taxes | (107) | (98) | (137) | (172) | (168)
Maintenance Capex | (124) | (159) | (115) | (150) | (160)
Corporate Capex | (26) | (27) | (17) | (9) | (11)
Numerator | $2,948 | $3,459 | $3,880 | $4,394 | $4,579
Gross PPE | $14,397 | $15,652 | $16,950 | $17,717 | $19,326
Gross Intangibles | 12,671 | 14,795 | 16,183 | 16,323 | 18,474
Gross Goodwill6 | 4,240 | 4,510 | 4,879 | 4,797 | 5,492
Denominator | $31,308 | $34,957 | $38,012 | $38,837 | $43,292
ROIC | 9.4% | 9.9% | 10.2% | 11.3% | 10.6%


Question: What was the gross PPE in 2016?
Answer: $15,652
Balance Sheet and Cash Flows
Cash and Cash Equivalents and Investments The following table summarizes our cash and cash equivalents and investments (in millions):
The net decrease in cash and cash equivalents and investments from fiscal 2018 to fiscal 2019 was primarily driven by cash returned to shareholders in the form of repurchases of common stock of $20.7 billion under the stock repurchase program and cash dividends of $6.0 billion, net cash paid for acquisitions and divestitures of $2.2 billion, a net decrease in debt of $1.1 billion, and capital expenditures of $0.9 billion. These uses of cash were partially offset by cash provided by operating activities of $15.8 billion and the timing of settlements of investments and other of $2.0 billion.
In addition to cash requirements in the normal course of business, on July 9, 2019 we announced our intent to acquire Acacia Communications, Inc. (“Acacia”) for a purchase consideration of approximately $2.6 billion in cash. Additionally, $0.7 billion of the U.S. transition tax on accumulated earnings for foreign subsidiaries, $6.0 billion of long-term debt and $4.2 billion of commercial paper notes outstanding at July 27, 2019, are payable within the next 12 months from the balance sheet date. See further discussion of liquidity and future payments under “Contractual Obligations” and “Liquidity and Capital Resource Requirements” below.
We maintain an investment portfolio of various holdings, types, and maturities. We classify our investments as short-term investments based on their nature and their availability for use in current operations. We believe the overall credit quality of our portfolio is strong, with our cash equivalents and our available-for-sale debt investment portfolio consisting primarily of high quality investment-grade securities. We believe that our strong cash and cash equivalents and investments position allows us to use our cash resources for strategic investments to gain access to new technologies, for acquisitions, for customer financing activities, for working capital needs, and for the repurchase of shares of common stock and payment of dividends as discussed below.
Table:
 | July 27, 2019 | July 28, 2018 | Increase (Decrease)
Cash and cash equivalents . | $11,750 | $8,934 | $2,816
Available-for-sale debt investments | 21,660 | 37,009 | (15,349)
Marketable equity securities | 3 | 605 | (602)
Total | $33,413 | $46,548 | $(13,135)


Question: How are the company's investments classified as short-term?
Answer: based on their nature and their availability for use in current operations.
Stock Options—Stock options are typically granted at prices not less than 100% of market value of the underlying stock at the date of grant. Stock options typically vest over a period of 3 to 5 years from the grant date and expire 10 years after the grant date. The Company recorded $32.0, $23.2, and $18.3 of compensation expense relating to outstanding options during 2019, 2018 and 2017, respectively, as a component of general and administrative expenses at Corporate.
The Company estimates the fair value of its option awards using the Black-Scholes option valuation model. The stock volatility for each grant is measured using the weighted-average of historical daily price changes of the Company’s common stock over the most recent period equal to the expected life of the grant. The expected term of options granted is derived from historical data to estimate option exercises and employee forfeitures, and represents the period of time that options granted are expected to be outstanding. The risk-free rate for periods within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. The weighted-average fair value of options granted in 2019, 2018 and 2017 were calculated using the following weighted-average assumptions:
Table:
 | 2019 | 2018 | 2017
Weighted-average fair value ($) | 68.05 | 57.75 | 40.87
Risk-free interest rate (%) | 2.37 | 2.65 | 2.03
Average expected option life (years) | 5.42 | 5.32 | 5.26
Expected volatility (%) | 19.22 | 18.05 | 18.74
Expected dividend yield (%) | 0.58 | 0.59 | 0.67


Question: Which year had the highest expected dividend yield?
Answer: 2017
Calculation: 0.67>0.59>0.58