hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
Stock Option Award Amendment
The Board of Directors has in 2019 amended and restated the 2011 Equity Incentive Plan to reserve an additional 1,000,000 stock options for issuance. The stock options have been allocated amongst management and employees of the Company.
As of December 31, 2019, the Company has granted 755,000 and 234,000 options with vesting over a period of two and three years, respectively, and an exercise price of $4.70 per share.
The Company has used the Black-Scholes option pricing model to measure the grant date fair value of the options with the following assumptions applied to the model;
The expected volatility was based on historical volatility observed from historical company-specific data during the two years prior to the grant date.
The compensation expense related to the stock option awards was $0.1 million for the year ended December 31, 2019 and the remaining unrecognized cost related to non-vested stock options was $0.5 million with a remaining average remaining vesting period of 2.1 years.
Table:
 | Options with two year vesting | Options with three year vesting
Volatility | 57.5% | 52.5%
Dividend yield | 10.0 % | 10.0%
Risk-free interest rate | 1.64% | 1.65%
Weighted-average grant date fair value | $0.59 | $0.58


Question: What is the change in Weighted-average grant date fair value between the options with two year vesting and three year vesting?
Answer: 0.01
Calculation: 0.59-0.58
Liquidity and Capital Resources
As of December 31, 2019 and 2018, we had cash and cash equivalents of $343.6 million and $566.3 million, respectively. We finance our operations primarily through sales to our customers and a majority of our customers are billed monthly. For customers with annual or multi-year contracts and those who opt for annual invoicing, we generally invoice only one annual period in advance and all invoicing occurs at the start of the respective subscription period. Revenue is deferred for such advanced billings. We also finance our operations from proceeds from issuance of stock under our stock plans, and proceeds from issuance of debt. We believe that our operations and existing liquidity sources will satisfy our cash requirements for at least the next 12 months
Our future capital requirements will depend on many factors, including revenue growth and costs incurred to support customer growth, acquisitions and expansions, sales and marketing, research and development, increased general and administrative expenses to support the anticipated growth in our operations, and capital equipment required to support our growing headcount and in support of our co-location data center facilities. Our capital expenditures in future periods are expected to grow in line with our business. We continually evaluate our capital needs and may decide to raise additional capital to fund the growth of our business, to further strengthen our balance sheet, or for general corporate purposes through public or private equity offerings or through additional debt financing. We also may in the future make investments in or acquire businesses or technologies that could require us to seek additional equity or debt financing. Access to additional capital may not be available, or on favorable terms
The table below provides selected cash flow information for the periods indicated (in thousands)
Table:
 |  | Year ended December 31, | 
 | 2019 | 2018 | 2017
Net cash provided by operating activities | $64,846 | $72,130 | $41,165
Net cash used in investing activities | (296,780) | (83,448) | (26,387)
Net cash provided by financing activities | 9,042 | 397,255 | 6,783
Effect of exchange rate changes | 169 | (800) | (724)
Net (decrease) increase in cash, cash equivalents, and restricted cash | $(222,723) | 385,137 | 20,837


Question: What is the percentage change in the net cash provided by operating activities between 2017 and 2018?
Answer: 75.22
Calculation: (72,130 - 41,165)/41,165
Operating profit/loss
Our operating profit in 2019 was EUR 485 million, a change of EUR 544 million, compared to an operating loss of EUR 59 million in 2018. The change in operating result was primarily due to lower selling, general and administrative expenses, research and development expenses and a net positive fluctuation in other operating income and expenses, partially offset by lower gross profit. Our operating margin in 2019 was 2.1%, compared to approximately breakeven in 2018.
(1) Excludes costs related to the acquisition of Alcatel Lucent and related integration, goodwill impairment charges, intangible asset amortization and other purchase price fair value adjustments, restructuring and associated charges and certain other items.
The following table sets forth the impact of unallocated items on operating profit/loss:
Table:
EURm | 2019 | 2018
Total segment operating profit(1) | 2,003 | 2,180
Amortization and depreciation of acquired intangible assets and property, plant and equipment | (924) | (940)
Restructuring and associated charges | (502) | (321)
Gain on defined benefit plan amendment | 168 | -
Product portfolio strategy costs | (163) | (583)
Transaction and related costs, including integration costs relating to the acquisition of Alcatel Lucent | (48) | (220)
Impairment of assets, net of impairment reversals | (29) | (48)
Operating model integration | (12) | -
Release of acquisition-related fair value adjustments to deferred revenue and inventory | (6) | (16)
Divestment of businesses | (2) | (39)
Fair value changes of legacy IPR fund | - | (57)
Other | - | (15)
Total operating profit/(loss) | 485 | (59)


Question: What is the increase / (decrease) in the Total segment operating profit(1) from 2018 to 2019?
Answer: -177
Calculation: 2,003 - 2,180
AMERICAN TOWER CORPORATION AND SUBSIDIARIES SCHEDULE III—SCHEDULE OF REAL ESTATE AND ACCUMULATED DEPRECIATION (dollars in millions)
(7) Primarily includes foreign currency exchange rate fluctuations and other deductions.
Table:
 | 2019 | 2018 | 2017
Gross amount of accumulated depreciation at beginning | $(5,724.7) | $(5,181.2) | $(4,548.1)
Additions during period: |  |  | 
Depreciation | (768.4) | (751.4) | (718.7)
Other | — | — | —
Total additions | (768.4) | (751.4) | (718.7)
Deductions during period: |  |  | 
Amount of accumulated depreciation for assets sold or disposed | 121.4 | 129.3 | 100.7
Other (7) | (10.5) | 78.6 | (15.1)
Total deductions | 110.9 | 207.9 | 85.6
Balance at end | $(6,382.2) | $(5,724.7) | $(5,181.2)


Question: What was the change in Gross amount of accumulated depreciation at beginning between 2017 and 2018?
Answer: -633.1
Calculation: -$5,181.2-(-$4,548.1)
4. Debt, Capital Lease Obligations and Other Financing
Debt and capital lease obligations as of September 28, 2019 and September 29, 2018, consisted of the following (in thousands):
On June 15, 2018, the Company entered into a Note Purchase Agreement (the “2018 NPA”) pursuant to which it issued an aggregate of$ 150.0 million in principal amount of unsecured senior notes, consisting of $100.0 million in principal amount of 4.05% Series A Senior Notes, due on June 15, 2025, and $50.0 million in principal amount of 4.22% Series B Senior Notes, due on June 15, 2028 (collectively, the “2018 Notes”), in a private placement. The 2018 NPA includes customary operational and financial covenants with which the Company is required to comply, including, among others, maintenance of certain financial ratios such as a total leverage ratio and a minimum interest coverage ratio. The 2018 Notes may be prepaid in whole or in part at any time, subject to payment of a makewhole amount; interest on the 2018 Notes is payable semiannually. At September 28, 2019, the Company was in compliance with the covenants under the 2018 NPA.
In connection with the issuance of the 2018 Notes, on June 15, 2018, the Company repaid, on maturity $175.0 million in principal amount of its previous 5.20% Senior Notes.
On May 15, 2019, the Company refinanced its then-existing senior unsecured revolving credit facility (the "Prior Credit Facility") by entering into a new5 -year senior unsecured revolving credit facility (collectively with the Prior Credit Facility, referred to as the "Credit Facility"), which expanded the maximum commitment from $300.0 million to $350.0 million and extended the maturity from July 5, 2021 to May 15, 2024. The maximum commitment under the Credit Facility may be further increased to $600.0 million, generally by mutual agreement of the Company and the lenders, subject to certain customary conditions. During fiscal 2019, the highest daily borrowing was $250.0 million; the average daily borrowings were $140.7 million. The Company borrowed $1,084.5 million and repaid $989.5 million of revolving borrowings under the Credit Facility during fiscal 2019. The Company was in compliance with all financial covenants relating to the Credit Agreement, which are generally consistent with those in the 2018 NPA discussed above. The Company is required to pay a commitment fee on the daily unused revolver credit commitment based on the Company's leverage ratio; the fee was 0.125% as of September 28, 2019.
Table:
 | 2019 | 2018
4.05% Senior Notes, due June 15, 2025 | $100,000 | $100,000
4.22% Senior Notes, due June 15, 2028  | 50,000 | 50,000
Borrowings under the credit facility | 95,000 | —
Capital lease and other financing obligations | 44,492 | 39,857
Unamortized deferred financing fees | (1,512) | (1,240)
Total obligations | 287,980 | 188,617
Less: current portion  | (100,702) | (5,532)
Long-term debt and capital lease obligations, net of current portion | 187,278 | 183,085


Question: What was the amount of Capital lease and other financing obligations in 2018?
Answer: 39,857
A.9.1 Results of operations
Statement of Income of Siemens AG in accordance with German Commercial Code (condensed)
Beginning of August 2018, Siemens AG carved out its mobility business to Siemens Mobility GmbH by way of singular succession. The decreases in revenue, cost of sales, gross profit and research and development (R & D) expenses were mainly driven by this carve-out.
On a geographical basis, 75 % of revenue was generated in the Europe, C. I. S., Africa, Middle East region, 18 % in the Asia, Australia region and 7 % in the Americas region. Exports from Germany accounted for 62 % of overall revenue. In fiscal 2019, orders for Siemens AG amounted to € 21.6 billion. Within Siemens AG, the development of revenue depends strongly on the completion of contracts, primarily in connection with large orders.
The R & D intensity (R & D as a percentage of revenue) increased by 0.8 percentage points year-over-year. The research and development activities of Siemens AG are fundamentally the same as for its fields of business activities within the Siemens Group, respectively. On an average basis, we employed 9,000 people in R & D in fiscal 2019.
The decrease in Financial income, net was primarily attributable to lower income from investments, net. The main factor for this decrease was a significant income from the profit transfer agreement with Siemens Beteiligungen Inland GmbH, Germany, in
fiscal 2018.
Table:
 |  | Fiscal year | 
(in millions of €) | 2019 | 2018 | % Change
Revenue | 22,104 | 28,185 | (22) %
Cost of Sales | (15,825) | (21,074) | 25 %
Gross profit | 6,279 | 7,111 | (12) %
as percentage of revenue | 28 % | 25 % | 
Research and development expenses | (2,362) | (2,788) | 15 %
Selling and general administrative expenses | (3,979) | (3,767) | (6) %
Other operating income (expenses), net | 9,469 | 1 | n / a
Financial income, net thereof Income from investments, net 3,754 (prior year 5,381) | 3,188 | 4,643 | (31) %
Income from business activity | 12,596 | 5,199 | 142 %
Income taxes | (1,377) | (653) | (111) %
Net income | 11,219 | 4,547 | 147 %
Profit carried forward | 170 | 134 | 27 %
Allocation to other retained earnings | (6,005) | (1,451) | > (200) %
Unappropriated net income | 5,384 | 3,230 | 67 %


Question: What is the increase / (decrease) in Net Income from 2018 to 2019?
Answer: 6672
Calculation: 11,219 - 4,547
Disaggregation of Revenue
We generate revenue from the sale of services and sale of software for end-user software products provided through direct customer downloads and through the sale of these end-user software products via partners. The following table depicts the disaggregation of revenue (in thousands) according to revenue type and is consistent with how we evaluate our financial performance:
Revenue from Contracts with Customers:
Table:
 | Twelve months ended December 31, | 
 | 2019 | 2018
Services  | $59,545 | $64,476
Software and other   | 3,788 | 5,073
             Total revenue  | $63,333 | $69,549


Question: What was the change in services revenue between 2018 and 2019?
Answer: -4931
Calculation: $59,545 - $64,476
the grand gulf recovery variance is primarily due to increased recovery of higher costs resulting from the grand gulf uprate . the volume/weather variance is primarily due to the effects of more favorable weather on residential sales and an increase in industrial sales primarily due to growth in the refining segment . the fuel recovery variance is primarily due to : 2022 the deferral of increased capacity costs that will be recovered through fuel adjustment clauses ; 2022 the expiration of the evangeline gas contract on january 1 , 2013 ; and 2022 an adjustment to deferred fuel costs recorded in the third quarter 2012 in accordance with a rate order from the puct issued in september 2012 . see note 2 to the financial statements for further discussion of this puct order issued in entergy texas's 2011 rate case . the miso deferral variance is primarily due to the deferral in april 2013 , as approved by the apsc , of costs incurred since march 2010 related to the transition and implementation of joining the miso rto . the decommissioning trusts variance is primarily due to lower regulatory credits resulting from higher realized income on decommissioning trust fund investments . there is no effect on net income as the credits are offset by interest and investment income . entergy wholesale commodities following is an analysis of the change in net revenue comparing 2013 to 2012 . amount ( in millions ) .

Table:
 | amount ( in millions )
2012 net revenue | $ 1854
mark-to-market | -58 ( 58 )
nuclear volume | -24 ( 24 )
nuclear fuel expenses | -20 ( 20 )
nuclear realized price changes | 58
other | -8 ( 8 )
2013 net revenue | $ 1802
as shown in the table above , net revenue for entergy wholesale commodities decreased by approximately $ 52 million in 2013 primarily due to : 2022 the effect of rising forward power prices on electricity derivative instruments that are not designated as hedges , including additional financial power sales conducted in the fourth quarter 2013 to offset the planned exercise of in-the-money protective call options and to lock in margins .
these additional sales did not qualify for hedge accounting treatment , and increases in forward prices after those sales were made accounted for the majority of the negative mark-to-market variance .
it is expected that the underlying transactions will result in earnings in first quarter 2014 as these positions settle .
see note 16 to the financial statements for discussion of derivative instruments ; 2022 the decrease in net revenue compared to prior year resulting from the exercise of resupply options provided for in purchase power agreements where entergy wholesale commodities may elect to supply power from another source when the plant is not running .
amounts related to the exercise of resupply options are included in the gwh billed in the table below ; and entergy corporation and subsidiaries management's financial discussion and analysis .

Question: what is the growth rate in net revenue for entergy wholesale commodities in 2013?
Answer: -2.8%
Calculation: subtract(1802, 1854), divide(#0, 1854)
REMUNERATION COMMITTEE REPORT
The table above shows the actual expenditure of the Group for employee pay and distributions to shareholders compared to the retained earnings of the Group.
Table:
RELATIVE IMPORTANCE OF SPEND ON PAY |  |  | 
Expenditure USDm | 2019 | 2018 | 2017
Dividends paid | - | - | 1.2
Purchase of outstanding treasury shares in TORM A/S | - | - | -
Purchase/disposals of treasury shares | - | - | -
Total | - | - | 1.2
Staff costs | 45.8 | 46.2 | 43.8
Retained earnings | 920.0 | 752.0 | 786.0


Question: For which years is the actual expenditure of the Group for employee pay and distributions to shareholders compared to the retained earnings of the Group in the table?
Answer: 2019, 2018, 2017
Stock-based compensation expense is included in the following captions of the consolidated statements of comprehensive income (loss) (in thousands): Stock-based compensation expense is included in the following captions of the consolidated statements of comprehensive income (loss) (in thousands):
As of February 28, 2019, there was $25.5 million of unrecognized stock-based compensation cost related to non-vested equity awards, which is expected to be recognized over a weighted-average remaining vesting period of 2.8 years.
Table:
 |  | Year Ended February 28, | 
 | 2019 | 2018 | 2017
Cost of revenues | $723 | $653 | $374
Research and development | 2,061 | 1,471 | 1,033
Selling and marketing | 2,863 | 2,314 | 1,655
General and administrative | 5,382 | 4,860 | 4,771
 | $11,029 | $9,298 | $7,833


Question: What was the change in Selling and marketing between 2018 and 2019?
Answer: 549
Calculation: (2,863-2,314)
Stock Ownership Requirements
We believe that in order to align the interests of our executive officers with those of our stockholders, our executive officers should have a financial stake in our Company. We have maintained stock ownership requirements for our executive officers since October 2005. For FY19, our executive officers were required to hold the following minimum number of shares:
• CEO: 6x base salary; • CFO, COO and President: 3x base salary; and • Executive Vice Presidents: 2x base salary.
Stock options and unvested RSUs and PRUs do not count toward stock ownership requirements.
The executive officer is required to acquire and thereafter maintain the stock ownership required within four years of becoming an executive officer of NortonLifeLock (or four years following the adoption date of these revised guidelines). During the four-year transitional period, each executive officer must retain at least 50% of all net (after-tax) equity grants until the required stock ownership level has been met.
As of October 25, 2019, Messrs. Kapuria, Pilette and Taylor reached the stated ownership requirements for FY19. Transitioning or former executive officers and non-executive officers are not included in the table below. See the table below for individual ownership levels relative to the executive’s ownership requirement.
(1) Based on the closing price for a share of our common stock of $22.69 on October 25, 2019.
Table:
Executive Officer | Ownership Requirement (1) (# of shares) | Holdings as of October 25, 2019(# of shares)
Samir Kapuria | 39,665 | 186,735
Vincent Pilette | 85,941 | 785,906
Scott C. Taylor | 52,887 | 408,724


Question: What is the total summed ownership requirement for the Executive officers?
Answer: 178493
Calculation: 39,665+85,941+52,887
4. INVENTORIES
The components of inventories, net, are as follows (in thousands):
Table:
 | March 30, 2019 | March 31, 2018
Raw materials | $118,608 | $110,389
Work in process | 272,469 | 221,137
Finished goods | 120,716 | 140,766
Total inventories | $511,793 | $472,292


Question: What are the respective values of the company's raw materials on March 31, 2018 and 2019?
Answer: $110,389, $118,608
NON-GAAP FINANCIAL MEASURES
Non-GAAP operating income, net income, and diluted EPS are non-GAAP financial measures which exclude the net tax impact of transfer of intangible properties, the net tax impact of the TCJA, and restructuring expenses. We believe these non-GAAP measures aid investors by providing additional insight into our operational performance and help clarify trends affecting our business. For comparability of reporting, management considers non-GAAP measures in conjunction with GAAP financial results in evaluating business performance. These non-GAAP financial measures presented should not be considered a substitute for, or superior to, the measures of financial performance prepared in accordance with GAAP.
The following table reconciles our financial results reported in accordance with GAAP to non-GAAP financial results:
* Not meaningful.
Table:
(In millions, except percentages and per share amounts) | 2019 | 2018 | 2017 | Percentage Change 2019 Versus 2018 | Percentage Change 2018 Versus 2017
Operating income | $42,959 | $35,058 | $  29,025 | 23% | 21%
Net tax impact of transfer of intangible properties | 0 | 0 | 0 | * | *
Net impact of the TCJA | 0 | 0 | 0 | * | *
Restructuring expenses | 0 | 0 | 306 | * | *
Non-GAAP operating income | $42,959 | $35,058 | $ 29,331 | 23% | 20%
Net income | $39,240 | $16,571 | $ 25,489 | 137% | (35)%
Net tax impact of transfer of intangible properties | (2,567) | 0 | 0 | * | *
Net tax impact of the TCJA | 157 | 13,696 | 0 |  | 
Restructuring expenses | 0 | 0 | 243 | * | *
Non-GAAP net income | $36,830 | $30,267 | $ 25,732 | 22% | 18%
Diluted earnings per share | $5.06 | $2.13 | $ 3.25 | 138% | (34)%
Net tax impact of transfer of intangible properties | (0.33) | 0 | 0 | * | *
Net tax impact of the TCJA | 0.02 | 1.75 | 0 | * | *
Restructuring expenses | 0 | 0 | 0.04 | * | *
Non-GAAP diluted earnings per share | $4.75 | $3.88 | $ 3.29 | 22% | 18%
* not meaningful |  |  |  |  | 


Question: What was the average operating income for the 3 year period from 2017 to 2019?
Answer: 35680.67
Calculation: (42,959 + 35,058+29,025)/(2019-2017+1)
27 Financial risk management (continued)
The table below summarises the Group’s exposure to foreign exchange risk as well as the foreign exchange rates applied:
The approximate impact of a 10 per cent appreciation in foreign exchange rates would be a positive movement of £50.0 million (2018: £63.4 million) to equity attributable to owners of the Group. The approximate impact of a 10 per cent depreciation in foreign exchange rates would be a negative movement of £40.9 million (2018: £51.9 million) to equity attributable to owners of the Group. There is no material income statement impact as these exchange differences are recognised in other comprehensive income.
As part of the strategy to mitigate the Group’s exposure to foreign exchange risk, the Group is able to borrow part of its RCF in euros, up to €100 million. The RCF borrowings denominated in euros have been designated as a hedging instrument (net investment hedge) against the Group’s net investment in Spain with the hedged risk being the changes in the euro/pounds sterling spot rate that will result in changes in the value of the Group’s net investments in Spain. At 31 December 2019, €100 million (2018: €100 million) was drawn in euros.
Table:
 | 2019 | 2018 | 2019 | 2018
 | €m | €m | INRm | INRm
Net exposure | 468.9 | 555.7 | 5,072.4 | 6,274.5
Foreign exchange rate | 1.1825 | 1.1126 | 94.4586 | 88.3432


Question: What is the net exposure to foreign exchange risk (euro) in 2019?
Answer: 468.9