hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
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 was the change in Pro Forma total sales between 2018 and 2019?
Answer: -147247
Calculation: $1,202,790-$1,350,037
ITEM 6. SELECTED FINANCIAL DATA
The selected financial data presented below has been derived from our audited consolidated financial statements. This data should be read in conjunction with “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Item 8. Financial Statements and Supplementary Data” of this Annual Report.
(2) We retrospectively adopted ASU 2014-09, “Revenue from Contracts with Customers (Topic 606)” in 2018. As a result, we have adjusted balances for 2017 and 2016. We have not adjusted 2015 for ASU 2014-09.
(3) On January 1, 2019, we adopted Accounting Standards Codification 842 “Leases” (“ASC 842”) using the modified retrospective method, reflecting any cumulative effect as an adjustment to equity. Results for reporting periods beginning on or after January 1, 2019 are presented under ASC 842, while prior period amounts were not adjusted and continue to be reported in accordance with the Company’s historical accounting under ASC 840 “Leases.”
Table:
 |  | December 31. |  |  | 
(in thousands) | 2019 | 2018 | 2017 | 2016 | 2015
Consolidated Balance Sheet Data (2) (3): |  |  |  |  | 
Total cash, cash equivalents, and marketable securities | $68,363 | $207,423 | $223,748 | $133,761 | $219,078
Goodwill | $79,039 | $72,858 | $72,952 | $73,164 | $46,776
Total assets | $984,812 | $982,553 | $1,012,753 | $867,135 | $627,758
Total stockholders’ equity | $539,010 | $621,531 | $655,870 | $548,940 | $322,859


Question: What are the respective goodwill amounts in 2016 and 2017?
Answer: $73,164, $72,952
Adjusted earnings per share
Basic adjusted earnings per share is defined as adjusted profit for the period attributable to equity holders divided by the weighted average number of shares. Diluted adjusted earnings per share is defined as adjusted profit for the period attributable to equity holders divided by the diluted weighted average number of shares.
Basic and diluted EPS calculated on an IFRS profit basis are included in Note 10.
Table:
 | 2019 | 2018
Profit for the period attributable to equity holders as reported under IFRS (£m) | 166.6 | 223.1
Items excluded from adjusted operating profit disclosed above (£m) | 37.7 | (34.2)
Tax effects on adjusted items (£m) | (8.5) | (5.0)
Adjusted profit for the period attributable to equity holders (£m) | 195.8 | 183.9
Weighted average shares (million) | 73.7 | 73.6
Basic adjusted earnings per share | 265.7p | 250.0p
Diluted weighted average shares (million) | 73.9 | 73.8
Diluted adjusted earnings per share | 264.9p | 249.1p


Question: What was the percentage change in the profit for the period attributable to equity holders as reported under IFRS in 2019 from 2018?
Answer: -25.32
Calculation: (166.6-223.1)/223.1
Operating Expenses
Research and Development Expenses
Research and development expenses increased $47 million, or 30%, in 2019 compared to 2018. The overall increase was primarily due to increased employee compensation-related costs of $34 million, driven by headcount growth, and increased allocated shared costs of $8 million.
Research and development expenses increased $45 million, or 39%, in 2018 compared to 2017. The overall increase was primarily due to increased employee compensation-related costs of $36 million, driven by headcount growth, and increased allocated shared costs of $6 million.
Table:
 |  | Year Ended December 31, |  |  | 
 | 2019 | 2018 | 2017 | 2018 to 2019 % change | 2017 to 2018 % change
 |  |  | (In thousands, except percentages) |  | 
Research and Development | $ 207,548 | $ 160,260 | $ 115,291 | 30% | 39%


Question: What is the driver for an increase in employee compensation-related costs in 2019?
Answer: driven by headcount growth
18.1 Fair Values
The fair values of the currency and interest rate swap contracts exclude accrued interest of S$16.3 million (31 March 2018: S$16.8 million). The accrued interest is separately disclosed in Note 16 and Note 27.
The fair values of the derivative financial instruments were as follows –
Table:
 | Group |  | Company | 
 | Fair values |  | Fair values | 
 | Assets | Liabilities | Assets | Liabilities
2019 | S$ Mil | S$ Mil | S$ Mil | S$ Mil
Fair value and cash flow hedges |  |  |  | 
Cross currency swaps | 414.6 | 95.5 | 1.0 | 60.2
Interest rate swaps | 11.1 | 59.8 | - | 8.9
Forward foreign exchange contracts | 12.9 | 1.5 | 3.3 | 1.0
Derivatives that do not qualify for hedge accounting |  |  |  | 
Cross currency swaps | - | - | 104.7 | 104.7
Interest rate swaps | - | 1.9 | 17.5 | 17.5
Forward foreign exchange contracts | 0.1 | - | 0.1 | -
 | 438.7 | 158.7 | 126.6 | 192.3
Disclosed as – |  |  |  | 
Current | 155.1 | 9.2 | 0.7 | 0.5
Non-current | 283.6 | 149.5 | 125.9 | 191.8
 | 438.7 | 158.7 | 126.6 | 192.3


Question: What does the information in note 18.1 pertain to?
Answer: Fair Values
During 2019, 2018 and 2017, no income tax benefit or expense was recorded for stock options exercised as an adjustment to equity.
The change in the unrecognized income tax benefits for the years ended December 31, 2019, 2018 and 2017 is reconciled below:
As of December 31, 2019, 2018 and 2017, our total liability for unrecognized tax benefits was $1.5 million, $1.9 million and $2.4 million, respectively, of which $1.4 million, $1.7 million and $2.2 million, respectively, would reduce our effective tax rate if we were successful in upholding all of the uncertain positions and recognized the amounts recorded. We classify interest and penalties recognized on the liability for unrecognized tax benefits as income tax expense. As of December 31, 2019, 2018 and 2017, the balances of accrued interest and penalties were $0.5 million, $0.7 million and $0.8 million, respectively.
We do not anticipate a single tax position generating a significant increase or decrease in our liability for unrecognized tax benefits within 12 months of this reporting date. We file income tax returns in the U.S. for federal and various state jurisdictions and several foreign jurisdictions. We are not currently under audit by the Internal Revenue Service. Generally, we are not subject to changes in income taxes by any taxing jurisdiction for the years prior to 2016.
Table:
(In thousands) | 2019 | 2018 | 2017
Balance at beginning of period | $1,868 | $2,366 | $2,226
Increases for tax position related to: |  |  | 
Prior years | — | 3 | 465
Current year | 161 | 254 | 285
Decreases for tax positions related to: |  |  | 
Prior years | (71) | — | (14)
Expiration of applicable statute of limitations | (471) | (755) | (596)
Balance at end of period | $1,487 | $1,868 | $2,366


Question: What was the change in the balance at the beginning of period between 2018 and 2019?
Answer: -498
Calculation: $1,868-$2,366
Property and Equipment
Property and equipment is recorded at cost and consists of furniture, computers, other office equipment, and leasehold improvements. We depreciate the cost of furniture, computers, and other office equipment on a straight-line basis over their estimated useful lives (five years for office equipment, seven years for furniture and fixtures). Leasehold improvements are depreciated over the lesser of their useful lives or the term of the lease. Depreciation and amortization expense for 2019, 2018, and 2017 was approximately $8.0 million, $8.6 million, and $9.1 million, respectively, and was included in “Depreciation and amortization” in the Consolidated Statements of Income. Amortization expense on intangible assets in 2019, 2018 and 2017 was immaterial.
Property and equipment, at cost, consist of the following (in thousands):
Table:
 | December 31 | 
 | 2019 | 2018
Office equipment | $ 38,373 | $ 39,633
Furniture and fixtures | 5,017 | 4,610
Leasehold improvement | 23,534 | 19,430
Property and equipment, gross | 66,924 | 63,673
Less accumulated depreciation | (44,199 ) | (49,355 )
Property and equipment, net | $ 22,725 | $ 14,318


Question: What consists of property and equipment cost?
Answer: furniture, computers, other office equipment, and leasehold improvements
NOTE 10 – COMMON STOCK PURCHASE WARRANTS
Our warrant activity during the years ended December 31, 2019 and 2018 is shown below (in thousands except price data):
In connection with the issuance of the $10.0 million secured promissory notes in December 2013, we issued common stock purchase warrants (“warrants”) exercisable for 60 thousand shares of our common stock having an exercise price of $2.52 per share (after giving effect to our one-for-five reverse stock split) with an expiration date in December 2020. These warrants contain a cashless exercise feature (See Note 7).
As part of our July 2017 private placement transaction with Mr. Schutte, we issued warrants to purchase 1,782,531 shares of our common stock. The warrants are immediately exercisable at a price of $0.528 per share and expire five years after issuance (See Note 8). We have assigned a relative fair value of $495 thousand to the warrants out of the total $4.0 million proceeds from the private placement transaction and have accounted for these warrants as equity.
On June 28, 2019 as part of the changes made to the loan agreements we had with Mr. Schutte, each having an original due date of January 2, 2020, we issued to him a warrant to purchase 10.0 million shares of our common stock exercisable at a price of $0.01 per share and expire five years after issuance. We obtained a valuation of fair value on the warrant and $1.145 million was allocated to the warrant and accounted for as equity. (see Note 7 and Note 8). The warrant was assigned and transferred by Mr. Schutte to AD Pharma on June 28, 2019.
Table:
 |  |  | December 31, | 
 |  | 2019 |  | 2018
 |  | WAvg |  | WAvg
 |  | Exercise |  | Exercise
 | Number | Price | Number | Price
Outstanding, Jan. 1 | 1,842 | $0.59 | 1,842 | $0.59
Issued | 10,000 | 0.01 | - | -
Exercised | - | - | - | -
Expired | - | - | - | -
Modification | - | - | - | -
Outstanding, Dec. 31 | 11,842 | 0.10 | 1,842 | $0.59


Question: What is the percentage increase in ending outstanding common stock purchase warrants from 2018 to 2019?
Answer: 542.89
Calculation: 10,000 / 1,842
21 Share-based payments
(a) Performance rights
The performance rights plan was established by the Board of Directors to provide long-term incentives to the Group’s Senior Executives based on total shareholder returns (TSR) taking into account the Group’s financial and operational performance. Under the Plan, eligible participants may be granted performance rights on terms and conditions determined by the Board from time to time. Performance rights were granted during the course of FY17, FY18 and FY19. The vesting conditions for grants relate to TSR exceeding the ASX 200 Accumulation Index over the measurement period. Vesting of the rights will be tested on or around the day following the release of each of the annual results for the years ended 30 June 2019, 2020 and 2021 respectively.
Performance rights are granted by the Company for nil consideration. The Board has discretion to determine if the value will be provided in shares, cash or a combination of shares and cash. Rights granted under the plan carry no dividend or voting rights.
The fair value of the rights at the date of valuation was determined using the Black-Scholes Option Pricing Model to be equal to the volume weighted-average price (VWAP) ending on the day before the grant date, less the dividends expected over the period from the expected grant date to the completion of the measurement period, adjusted for the expected probability of achieving the vesting conditions.
Table:
 | 30 June 2019 | 30 June 2019 | 30 June 2018 | 30 June 2018
 | Number of Rights | Average Fair Value | Number of Rights | Average Fair Value
Opening balance | 2,948,960 | $1.87 | 3,460,195 | $1.26
Granted during the year | 828,285 | $3.07 | 762,577 | $3.32
Vested during the year | (1,307,885) | $1.19 | (1,273,812) | $1.09
Forfeited during the year | - | $0.00 | - | $0.00
Closing balance | 2,469,360 | $2.64 | 2,948,960 | $1.87


Question: When will the vesting of the rights be tested on?
Answer: on or around the day following the release of each of the annual results for the years ended 30 June 2019, 2020 and 2021 respectively.
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 service cost in 2019?
Answer: $41
ITEM 6. SELECTED FINANCIAL DATA
The following selected financial data has been derived from our consolidated financial statements (in thousands, except per share data). This data should be read together with Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations”, and the consolidated financial statements and related notes included elsewhere in this annual report. The financial information below is not necessarily indicative of the results of future operations. Future results could differ materially from historical results due to many factors, including those discussed in Item 1A, Risk Factors.
(1) The consolidated balance sheet and statement of operations for the year ended December 31, 2019, includes the acquisition of Speedpay as discussed in Note 3, Acquisition, to our Notes to Consolidated Financial Statements in Part IV, Item 15 of this Form 10-K.
(2) The consolidated balance sheet and statement of operations for the year ended December 31, 2019, reflects the application of Accounting Standards Update (“ASU”) 2016-02, Leases (codified as “ASC 842”) as discussed in Note 14, Leases, to our Notes to Consolidated Financial Statements.
(3) The consolidated balance sheet and statement of operations for the year ended December 31, 2018, reflects the adoption of ASU 2014-09, Revenue from Contracts with Customers (codified as “ASC 606”), as discussed in Note 2, Revenue, to our Notes to Consolidated Financial Statements, including a cumulative adjustment of $244.0 million to retained earnings.
(4) The consolidated statement of operations for the year ended December 31, 2017, reflects the Baldwin Hackett & Meeks, Inc. (“BHMI”) judgment. We recorded $46.7 million in general and administrative expense and $1.4 million in interest expense, as discussed in Note 15, Commitments and Contingencies, to our Notes to Consolidated Financial Statements.
(5) The consolidated balance sheet and statement of operations for the year ended December 31, 2016, reflects the sale of Community Financial Services assets and liabilities.
Table:
 |  |  | Years Ended December 31, |  | 
 | 2019 (1)(2) | 2018 (3) | 2017 (4) | 2016 (5) | 2015
Income Statement Data: |  |  |  |  | 
Total revenues | $ 1,258,294 | $ 1,009,780 | $ 1,024,191 | $ 1,005,701 | $ 1,045,977
Net income | 67,062 | 68,921 | 5,135 | 129,535 | 85,436
Earnings per share: |  |  |  |  | 
Basic | $ 0.58 | $ 0.59 | $ 0.04 | $ 1.10 | $ 0.73
Diluted | $ 0.57 | $ 0.59 | $ 0.04 | $ 1.09 | $ 0.72
Weighted average common shares outstanding: |  |  |  |  | 
Basic | 116,175 | 116,057 | 118,059 | 117,533 | 117,465
Diluted | 118,571 | 117,632 | 119,444 | 118,847 | 118,919


Question: What was the net income in 2019?
Answer: 67,062
We recorded non-cash compensation expense related to stock-based awards as follows (in thousands):
As of September 30, 2019, there was $39.7 million of unrecognized compensation expense related to unvested RSUs. Based upon the expected forfeitures and the expected vesting of performance-based RSUs, the aggregate fair value of RSUs expected to ultimately vest is $40.0 million, which is expected to be recognized over a weighted-average period of 1.7 years and includes the RSUs that vested on October 1, 2019.
We estimate forfeitures at the time of grant and revise those estimates in subsequent periods on a cumulative basis in the period the estimated forfeiture rate changes for all stock-based awards when significant events occur. We consider our historical experience with employee turnover as the basis to arrive at our estimated forfeiture rate. The forfeiture rate was estimated to be 12.5% per year as of September 30, 2019. To the extent the actual forfeiture rate is different from what we have estimated, compensation expense related to these awards will be different from our expectations.
Table:
 |  | Years Ended September 30, | 
 | 2019 | 2018 | 2017
Cost of sales | $  1,766 | $  1,096 | $  338
Selling, general and administrative | 13,722 | 6,419 | 4,674
 | $15,488 | $7,515 | $5,012


Question: For which years is the amount of non-cash compensation expense related to stock-based awards recorded?
Answer: 2019, 2018, 2017
12 Directors’ Remuneration
Directors’ emoluments represent all earnings and aggregate contributions to pension schemes made during the year as a Director of Sophos Group plc and its subsidiaries. Further details can be found in the Group’s Remuneration Report on pages 91 to 101.
Table:
 | Year-ended 31 March 2019 | Year-ended 31 March 2018
 | $M | $M
Directors’ emoluments | 2.3 | 3.3
Gains on exercise of share options | 3.6 | 3.5
Gains on vesting of LTIP awards | 14.5 | 4.2
Total Directors’ remuneration | 20.4 | 11.0


Question: Where can further details of the directors' emoluments be found?
Answer: in the Group’s Remuneration Report on pages 91 to 101
Inventories
The components of inventories consist of the following (in millions):
Inventories are valued at the lower of cost and net realizable value using the first-in, first-out method. Inventory impairment charges establish a new cost basis for inventory and charges are not subsequently reversed to income even if circumstances later suggest that increased carrying amounts are recoverable.
Table:
 | March 31, | 
 | 2019 | 2018
Raw materials | $74.5 | $26.0
Work in process | 413.0 | 311.8
Finished goods | 224.2 | 138.4
Total inventories | $711.7 | $476.2


Question: How many years did the amount of Finished goods exceed $200 million?
Answer: 1
Calculation: 2019
6 Other assets (continued)
(a) Security deposits
Included in the security deposits was $8.8 million (2018: $4.2 million) relating to deposits held as security for bank guarantees.
(b) Customer incentives
Where customers are offered incentives in the form of free or discounted periods, the dollar value of the incentive is capitalised and amortised on a straight-line basis over the expected life of the contract.
(c) Contract Costs
From 1 July 2018, eligible costs that are expected to be recovered will be capitalised as a contract cost and amortised over the expected customer life.
Table:
NON-CURRENT | Note | 30 June 2019 $'000 | 30 June 2018 $'000
Customer incentives | 6(b) | 1,091 | 1,145
Capitalised transaction costs |  | 3,359 | 5,490
Contract costs | 6(c) | 448 | -
Total other assets - non-current |  | 4,898 | 6,635


Question: What are the types of non-current assets?
Answer: Contract costs, Customer incentives, Capitalised transaction costs
Item 6. Selected Consolidated Financial Data
The following table presents selected consolidated financial data as of and for the five-year period ended December 31, 2019. Our past results of operations are not necessarily indicative of our future results of operations. The following selected consolidated financial data is qualified in its entirety by, and should be read in conjunction with, “Management's Discussion and Analysis of Financial Condition and Results of Operations” and the consolidated financial statements and the notes thereto included elsewhere herein.
Consolidated Balance Sheet Data:
Table:
 |  |  | As of December 31, |  | 
 | 2019 | 2018 | 2017 | 2016 | 2015
 |  |  | (In thousands) |  | 
Cash and cash equivalents | $19,505 | $18,017 | $22,553 | $26,838 | $35,128
Working capital | $1,116 | $6,356 | $7,646 | $14,643 | $16,046
Total assets | $54,538 | $43,424 | $45,672 | $53,530 | $68,579
Stockholders' equity | $10,863 | $14,059 | $13,078 | $18,064 | $21,387


Question: What is the percentage change for cash and cash equivalents between 2018 and 2019?
Answer: 8.26
Calculation: (19,505-18,017)/18,017