hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
AMERICAN TOWER CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Tabular amounts in millions, unless otherwise disclosed)
Accounts Receivable and Deferred Rent Asset—The Company derives the largest portion of its revenues and corresponding accounts receivable and the related deferred rent asset from a relatively small number of tenants in the telecommunications industry, and 54% of its current-year revenues are derived from four tenants.
The Company’s deferred rent asset is associated with non-cancellable tenant leases that contain fixed escalation clauses over the terms of the applicable lease in which revenue is recognized on a straight-line basis over the lease term.
The Company mitigates its concentrations of credit risk with respect to notes and trade receivables and the related deferred rent assets by actively monitoring the creditworthiness of its borrowers and tenants. In recognizing tenant revenue, the Company assesses the collectibility of both the amounts billed and the portion recognized in advance of billing on a straight-line basis. This assessment takes tenant credit risk and business and industry conditions into consideration to ultimately determine the collectibility of the amounts billed. To the extent the amounts, based on management’s estimates, may not be collectible, revenue recognition is deferred until such point as collectibility is determined to be reasonably assured. Any amounts that were previously recognized as revenue and subsequently determined to be uncollectible are charged to bad debt expense included in Selling, general, administrative and development expense in the accompanying consolidated statements of operations.
Accounts receivable is reported net of allowances for doubtful accounts related to estimated losses resulting from a tenant’s inability to make required payments and allowances for amounts invoiced whose collectibility is not reasonably assured. These allowances are generally estimated based on payment patterns, days past due and collection history, and incorporate changes in economic conditions that may not be reflected in historical trends, such as tenants in bankruptcy, liquidation or reorganization. Receivables are written-off against the allowances when they are determined to be uncollectible. Such determination includes analysis and consideration of the particular conditions of the account. Changes in the allowances were as follows:
(1) In 2019, write-offs are primarily related to uncollectible amounts in India. In 2018 and 2017, recoveries include recognition of revenue resulting from collections of previously reserved amounts.
Table:
 |  | Year Ended December 31, | 
 | 2019 | 2018 | 2017
Balance as of January 1, | $282.4 | $131.0 | $45.9
Current year increases | 104.3 | 157.8 | 87.2
Write-offs, recoveries and other (1) | (223.4) | (6.4) | (2.1)
Balance as of December 31, | $163.3 | $282.4 | $131.0


Question: What was the percentage change in balance as of December 31 between 2018 and 2019?
Answer: -42.17
Calculation: ($163.3-$282.4)/$282.4
* Recast to conform to 2019 presentation.
** Reclassified to conform to 2019 presentation. Refer to “Basis of
Presentation” in note A, “Significant Accounting Policies,” for
additional information.
The following table presents external revenue for similar classes of products or services within the company’s reportable segments. Client solutions often include IBM software and systems and other suppliers’ products if the client solution requires it.
For each of the segments that include services, Software-as-a-Service, consulting, education, training and other product-related services are included as services. For each of these segments, software includes product license charges and ongoing subscriptions.
Table:
($ in millions) |  |  | 
For the year ended December 31: | 2019 | 2018 | 2017
Cloud & Cognitive Software* |  |  | 
Software | $18,712 | $17,970** | $17,681**
Services | 4,321 | 4,082** | 3,920**
Systems | 166 | 156 | 150
Global Business Services* |  |  | 
Services | $16,363 | $16,238** | $15,728**
Software | 156 | 151** | 179**
Systems | 115 | 206 | 165
Global Technology Services* |  |  | 
Services | $20,768 | $22,222** | $21,913**
Maintenance | 5,183 | 5,484 | 5,783
Systems | 1,072 | 1,069 | 1,207
Software | 338 | 371** | 310**
Systems |  |  | 
Servers | $ 3,746 | $ 3,996 | $ 3,993
Storage | 1,920 | 2,114 | 2,243
Software | 1,528 | 1,499** | 1,520**
Services | 410 | 425** | 438**
Global Financing |  |  | 
Financing | $ 1,120 | $ 1,223 | $ 1,167
Used equipment sales | 281 | 366 | 530


Question: What is included in Client solutions?
Answer: Client solutions often include IBM software and systems and other suppliers’ products if the client solution requires it.
The Company’s pension plan asset allocation at December 31, 2019 and at December 31, 2018 is as follows:
As of December 31, 2019, investments in funds were composed of commingled and multi-strategy funds invested in diversified portfolios of corporate bonds (37%), government bonds (32%), equity (15%) and other instruments (16%).
As of December 31, 2018, investments in funds were composed approximately for two thirds of commingled funds mainly invested in corporate bonds (55%) and treasury bonds and notes (45%) and for one third of multi-strategy funds invested in broadly diversified portfolios of
corporate and government bonds, equity and derivative instruments.
Table:
 | Percentage of Plan Assets at December | 
Asset Category | 2019 | 2018
Cash and cash equivalents | 1% | 2%
Equity securities | 24% | 27%
Government debt securities | 12% | 3%
Corporate debt securities | 16% | 26%
Investments in funds(a) | 21% | 17%
Real estate | 2% | 3%
Other (mainly insurance assets – contracts and reserves) | 24% | 22%
Total | 100% | 100%


Question: What was the average investment in cash and cash equivalents?
Answer: 1.5
Calculation: (2% + 1%) / 2
Share Repurchase
In September 2015, our Board of Directors authorized a program to repurchase up to $150.0 million of our common stock over a thirty-month period. In November 2017, our Board of Directors approved an extension of the share repurchase program to December 2019 from its original maturity of March 2018. In May 2018, our Board of Directors approved a $50 million increase in its authorization to repurchase shares of our common stock under this same program.
On December 18, 2019, the Board of Directors authorized to remove the expiration date to the Company’s share repurchase program and increase the authorized amount by $25.1 million. As of December 31, 2019, the Company is authorized to repurchase shares of the Company’s common stock of up to a total of $50.0 million.
ADVANCED ENERGY INDUSTRIES, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (continued) (in thousands, except per share amounts)
In order to execute the repurchase of shares of our common stock, the Company periodically enters into stock repurchase agreements. During the years ended December 31, 2019, 2018 and 2017 the Company has repurchased the following shares of common stock:
Table:
 |  | Years Ended December 31, | 
(in thousands, except per share amounts) | 2019 | 2018 | 2017
Amount paid to repurchase shares | $  — | $95,125 | $29,993
Number of shares repurchased | — | 1,696 | 422
Average repurchase price per share | $  — | $56.07 | $71.07


Question: What was the percentage change in the average repurchase price per share between 2017 and 2018?
Answer: -21.11
Calculation: ($56.07-$71.07)/$71.07
Expense
For the years ended December 31, 2019, 2018, and 2017, Teradyne’s net periodic postretirement benefit cost (income) was comprised of the following:
Table:
 | 2019 | 2018 | 2017
 |  | (in thousands) | 
Components of Net Periodic Postretirement Benefit |  |  | 
Cost (income): |  |  | 
Service cost | $41 | $39 | $34
Interest cost | 347 | 196 | 201
Amortization of prior service credit | (191) | (373) | (496)
Net actuarial loss | 717 | 25 | 398
Special termination benefits | — | 3,708 | 591
Total net periodic postretirement benefit cost | 914 | 3,595 | 728
Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income: |  |  | 
Prior service cost | — | — | —
Reversal of amortization items: |  |  | 
Prior service credit | 191 | 373 | 496
Total recognized in other comprehensive income | 191 | 373 | 496
Total recognized in net periodic postretirement cost and other comprehensive income | $1,105 | $3,968 | $1,224


Question: What was the change in service cost in 2018 from 2017?
Answer: 5
Calculation: 39-34
20. Trade and other payables
Following the application of IFRS 16, trade and other payables for the year ended 31 March 2018 have been restated (note 2).
Trade payables are unsecured and are usually paid within 30 days of recognition. The carrying amounts of trade and other payables are considered to be the same as their fair values, due to their short-term nature.
Table:
 | 2019 | (Restated) 2018
 | £m | £m
Trade payables | 4.3 | 3.7
Accruals | 10.5 | 9.8
Other taxes and social security | 13.0 | 11.8
Deferred income | 13.2 | 1.8
Other payables | 0.3 | 0.9
Accrued interest payable | 0.5 | 0.5
Total | 41.8 | 28.5


Question: What was the percentage change in trade payables in 2019 from 2018?
Answer: 16.22
Calculation: (4.3-3.7)/3.7
Total Expense for Share-Based Payment
Total expense for the share-based payment plans of Executive Board members was determined in accordance with IFRS 2 (Share- Based Payments) and consists exclusively of obligations arising from Executive Board activities.
Table:
€ thousands | 2019 | 2018
Christian Klein (Co-CEO from 10/10/2019) | 1,925 | 442.2
Jennifer Morgan (Co-CEO from 10/10/2019) | 2,894 | 796.1
Robert Enslin (until 4/5/2019) | 3,480 | 727.0
Adaire Fox-Martin | 2,667 | 796.1
Michael Kleinemeier | 3,253 | 914.2
Bernd Leukert (until 3/31/2019) | 8,606 | 775.2
Bill McDermott (CEO until 10/10/2019, Executive Board member until 11/15/2019) | 14,689 | 2,155.8
Luka Mucic | 3,391 | 675.8
Jürgen Müller (from 1/1/2019) | 768 | -
Stefan Ries | 2,646 | 772.0
Thomas Saueressig (from 11/1/2019) | 128 | -
Total | 44,446.5 | 8,054.4


Question: In which years is the Total Expense for Share-Based Payment provided?
Answer: 2019, 2018
Investments
As of June 30, 2019, the Group’s investments consisted of the following:
As of June 30, 2019, the Group had $445.0 million of investments which were classified as short-term investments on the Group’s consolidated statements of financial position. Additionally, the Group had marketable equity securities totaling $58.9 million, non-marketable equity securities totaling $3.0 million, and certificates of deposit and time deposits totaling $3.7 million which were classified as long-term and were included in other non-current assets on the Group’s consolidated statements of financial position.
Table:
 | Amortized Cost | Unrealized Gains | Unrealized Losses | Fair Value
 |  | (U.S. $ in thousands) |  | 
Debt Investments |  |  |  | 
Marketable debt securities |  |  |  | 
U.S. treasury securities | $101,563 | $203 | $(7) | 101,759
Agency securities | 26,936 | 33 | (3) | 26,966
Certificates of deposit and time deposits | 24,126 | — | — | 24,126
Commercial paper | 94,035 | — | — | 94,035
Corporate debt securities | 201,552 | 292 | (24) | 201,820
Total debt investments | 448,212 | 528 | (34) | 448,706
Equity Investments |  |  |  | 
Marketable equity securities | 20,270 | 38,662 | — | 58,932
Non-marketable equity securities | 3,000 | — | — | 3,000
Total equity investments | 23,270 | 38,662 | — | 61,932
Total investments | $471,482 | $39,190 | $(34) | $510,638


Question: As of June 30, 2019, what is the value of the Group's marketable equity securities?
Answer: $58.9 million
Results of Operations
We operate a cybersecurity business, focused on licensing and enforcement, providing advisory services, developing mobile security applications, and investing in emerging cybersecurity technologies and intellectual property. The following table summarizes our results of operations for the periods presented and as a percentage of our total revenue for those periods based on our consolidated statement of operations data. The year to year comparison of results of operations is not necessarily indicative of results of operations for future periods.
Table:
 |  |  | For the Years Ended December 31, |  |  | 
 | 2019 |  | 2018 |  | 2017 | 
 | Amount | % of Revenue | Amount | % of Revenue | Amount | % of Revenue
 |  |  | (In millions, except percentages) |  |  | 
Revenues | $13.2 | 100% | $82.3 | 100% | $50.5 | 100%
Cost of revenues | 1.9 | 14% | 15.3 | 19% | 6.0 | 12%
Gross profit | 11.3 | 86% | 67.0 | 81% | 44.5 | 88%
Operating expenses: |  |  |  |  |  | 
Selling, general and administrative (1) | 31.7 | 240% | 32.2 | 39% | 28.6 | 57%
Research and development | 2.0 | 15% | 2.1 | 2% | 1.5 | 3%
Total operating expenses | 33.7 | 225% | 34.3 | 41% | 30.1 | 60%
Other income (expense) | (0.3) | (2)% | (4.0) | (5)% | 2.2 | 4%
Income (loss) before income taxes | (22.7) | (172%) | 28.7 | 35% | 16.6 | 33%
Income tax provision (benefit) | (6.2) | (47%) | 8.0 | 10% | (6.2) | (12)%
Net income (loss) | $(16.5) | (125)% | $20.7 | 25% | $22.8 | 45%
(1) Includes stock based compensation | $1.0 | 8% | $1.6 | 2% | $0.8 | 2%


Question: What is the average revenue between 2017 to 2019?
Answer: 48.67
Calculation: (50.5 + 82.3 + 13.2)/3
Constant underlying earnings per share
Constant underlying earnings per share (constant underlying EPS) is calculated as underlying profit attributable to shareholders’ equity at constant exchange rates and excluding the impact of both translational hedges and price growth in excess of 26% per year in hyperinflationary economies divided by the diluted average number of ordinary share units. This measure reflects the underlying earnings for each ordinary share unit of the Group in constant exchange rates.
The reconciliation of underlying profit attributable to shareholders’ equity to constant underlying earnings attributable to shareholders’ equity and the calculation of constant underlying EPS is as follows:
(a) Restated following adoption of IFRS 16. See note 1 and note 24 for further details.
(b) See note 7.
(c) See pages 28 and 29 for further details.
Table:
 | € million | € million
 | 2019 | 2018
 |  | (Restated)(a)
Underlying profit attributable to shareholders’ equity(b) | 6,688 | 6,345
Impact of translation from current to constant exchange rates and translational hedges | 13 | 46
Impact of price growth in excess of 26% per year in hyperinflationary economies(c) | (108) | (10)
Constant underlying earnings attributable to shareholders’ equity | 6,593 | 6,381
Diluted combined average number of share units (millions of units) | 2,626.7 | 2,694.8
Constant underlying EPS (€) | 2.51 | 2.37


Question: How is the constant underlying earnings per share calculated?
Answer: underlying profit attributable to shareholders’ equity at constant exchange rates and excluding the impact of both translational hedges and price growth in excess of 26% per year in hyperinflationary economies divided by the diluted average number of ordinary share units
(c) Additional Segment Information
The majority of our assets as of July 27, 2019 and July 28, 2018 were attributable to our U.S. operations. In fiscal 2019, 2018, and 2017, no single customer accounted for 10% or more of revenue.
Property and equipment information is based on the physical location of the assets. The following table presents property and equipment information for geographic areas (in millions):
Table:
 | July 27, 2019 | July 28, 2018 | July 29, 2017
Property and equipment, net: |  |  | 
United States | $2,266 | $2,487 | $2,711
International | 523 | 519 | 611
Total | $2,789 | $3,006 | $3,322


Question: What was the net property and equipment from United States in 2019?
Answer: 2,266
The following is a summary of stock option activity during fiscal 2019:
Net income before income taxes included compensation expense related to the amortization of the Company’s stock option awards of $0.1 million during both fiscal 2019 and fiscal 2018. At September 2019, total unamortized compensation expense related to stock options was approximately $0.3 million. This unamortized compensation expense is expected to be amortized over approximately the next 38 months.
The aggregate intrinsic value of stock options exercisable was approximately $0.2 million and $0.3 million at September 2019 and September 2018, respectively.
The total intrinsic value of stock options exercised was $0.1 million in both fiscal 2019 and fiscal 2018. The total fair value of stock options vested was $0.4 million during both fiscal 2019 and fiscal 2018.
Table:
 | Number of Shares | Weighted Average Exercise Price
Outstanding at September 2018 | 33,800 | $  77.85
Granted | 5,450 | 84.00
Exercised | (2,800) | 79.22
Forfeited/Expired | — | —
Outstanding at September 2019 | 36,450 | $  78.67


Question: What is the compensation expense related to the amortization of the Company’s stock option awards included in the net income before income taxes in both fiscal 2018 and 2019 respectively?
Answer: $0.1 million, $0.1 million
Restructuring and Related Charges
Following is a summary of our restructuring and related charges:
(1) Includes $21.5 million, $16.3 million and $51.3 million recorded in the EMS segment, $2.6 million, $16.6 million and $82.4 million recorded in the DMS segment and $1.8 million, $4.0 million and $26.7 million of non-allocated charges for the fiscal years ended August 31, 2019, 2018 and 2017, respectively. Except for asset write-off costs, all restructuring and related charges are cash settled.
(2) Fiscal year ended August 31, 2017, includes expenses related to the 2017 and 2013 Restructuring Plans.
Table:
 |  | Fiscal Year Ended August 31, | 
(dollars in millions) | 2019 | 2018 | 2017(2)
Employee severance and benefit costs | $16.0 | $16.3 | $56.8
Lease costs | — | 1.6 | 4.0
Asset write-off costs | (3.6) | 16.2 | 94.3
Other costs | 13.5 | 2.8 | 5.3
Total restructuring and related charges (1) | $25.9 | $36.9 | $160.4


Question: What was the change in Employee severance and benefit costs between 2018 and 2019?
Answer: -0.3
Calculation: $16.0-$16.3
AMERICAN TOWER CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Tabular amounts in millions, unless otherwise disclosed)
Additional information relating to the total assets of the Company’s operating segments is as follows for the years ended December 31,:
(1) Total assets in each of the Company’s property segments includes the Right-of-use asset recognized in connection with the Company’s adoption of the new lease accounting standard.
(2) Balances are translated at the applicable period end exchange rate, which may impact comparability between periods.
(3) Balances include corporate assets such as cash and cash equivalents, certain tangible and intangible assets and income tax accounts that have not been allocated to specific segments.
Table:
 | 2019 (1) | 2018 | 2017
U.S. property | $22,624.6 | $18,782.0 | $19,032.6
Asia property (2) | 5,307.8 | 4,938.8 | 4,770.8
Africa property (2) | 4,711.1 | 1,929.7 | 1,673.4
Europe property (2) | 1,535.3 | 1,438.1 | 1,540.2
Latin America property (2) | 8,125.5 | 5,594.7 | 5,868.4
Services | 26.8 | 46.3 | 42.3
Other (3) | 470.5 | 280.8 | 286.6
Total assets | $42,801.6 | $33,010.4 | $33,214.3


Question: How many years did the total assets exceed $40,000 million?
Answer: 1
Calculation: 2019
Other payables and accrued liabilities consisted of the following:
Derivative instruments are further described in Note 27.
As of December 31, 2019, payables to equity-method investments was nil compared to $49 million as of December 31, 2018, as a result of the wind-down of the joint venture with Ericsson.
On January 1, 2019, the Company adopted the new guidance on lease accounting and the current portion of the lease obligation is now included in other payables and accrued liabilities. The impact of the adoption of this new guidance is further described in Note 11.
Other payables and accrued liabilities also include individually insignificant amounts as of December 31, 2019 and December 31, 2018, presented cumulatively in line “Others”.
Table:
 | December 31, 2019 | December 31, 2018
Employee related liabilities | 375 | 384
Employee compensated absences | 138 | 125
Taxes other than income taxes | 53 | 60
Advances | 63 | 77
Payables to equity-method investments | — | 49
Derivative instruments | 7 | 34
Provision for restructuring | 10 | 22
Defined benefit plans – current portion | 10 | 12
Defined contribution plans – accrued benefits | 20 | 18
Other long-term benefits – current portion | 7 | 6
Royalties | 21 | 26
Current lease obligation | 55 | —
Deferred consideration for business combinations | 10 | —
Others | 62 | 61
Total | 831 | 874


Question: What is the average Taxes other than income taxes?
Answer: 56.5
Calculation: (53+60) / 2
2019 vs 2018
Cost of revenue decreased for the year ended December 31, 2019, compared to the prior year, primarily due to net revenue declining.
Gross margin decreased for the year ended December 31, 2019 compared to the prior year. Gross margin was negatively impacted by the imposition of Section 301 tariffs originally announced in late 2018 and cost inefficiencies experienced in our new manufacturing locations outside of China, an increase in channel promotional activities relative to revenue as well as foreign exchange headwinds due to the strengthening of the U.S. dollar.
2018 vs 2017
Cost of revenue decreased for the year ended December 31, 2018 primarily due to improved product margin performance, lower proportionate provisions for warranty expense, and lower air freight costs compared to the prior year.
Gross margin increased for the year ended December 31, 2018 compared to the prior year primarily due to improved product margin performance, lower proportionate provisions for sales returns and warranty expense, favorable foreign exchange rate movements and lower air freight costs compared to the prior year.
For fiscal 2020, we expect gross margins to improve from fiscal 2019 primarily as our U.S. bound inventory will primarily not be subject to Section 301 tariffs in fiscal 2020. Forecasting gross margin percentages is difficult, and there are a number of risks related to our ability to maintain or improve our current gross margin levels. Our cost of revenue as a percentage of net revenue can vary significantly based upon factors such as: uncertainties surrounding revenue levels, including future pricing and/or potential discounts as a result of the economy or in response to the strengthening of the U.S. dollar in our international markets, and related production level variances; import customs duties and imposed tariffs; competition; changes in technology; changes in product mix; variability of stockbased compensation costs; royalties to third parties; fluctuations in freight and repair costs; manufacturing and purchase price variances; changes in prices on commodity components; warranty costs; and the timing of sales, particularly to service provider customers. We expect that revenue derived from paid subscription service plans will increase in the future, which may have a positive impact on our gross margin. From time to time, however, we may experience fluctuations in our gross margin as a result of the factors discussed above.
Table:
 |  |  | Year Ended December 31 |  | 
 | 2019 | % Change | 2018 | % Change | 2017
 |  |  | (In thousands, except percentage data) |  | 
Cost of revenue | $704,535 | (1.8)% | $717,118 | (2.0)% | $731,453
Gross margin percentage | 29.5% |  | 32.3% |  | 29.6%


Question: Which year has the highest gross margin percentage?
Answer: 2018
Calculation: 32.3% > 29.6% > 29.5%