hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
Dividend Policy
Our policy is to declare quarterly dividends to shareholders as decided by the Board of Directors. The dividend to shareholders could be higher than the operating cash flow or the dividend to shareholders could be lower than the operating cash flow after reserves as the Board of Directors may from time to time determine are required, taking into account contingent liabilities, the terms of our borrowing agreements, our other cash needs and the requirements of Bermuda law.
Total dividends distributed in 2019 totaled $14.3 million or $0.10 per share. The quarterly dividend payments per share over the last 5 years have been as follows:
* Includes $0.05 per share distributed as dividend-in-kind.
The Company declared a dividend of $0.07 per share in respect of the fourth quarter of 2019, which was paid to shareholders on March 16, 2020.
Table:
Period  | 2019 | 2018 | 2017 | 2016 | 2015
1st Quarter  | $0.04 | $0.03 | $0.20 | $0.43 | $0.22
2nd Quarter  | $0.03 | $0.01 | $0.20 | $0.43 | $0.38
3rd Quarter  | $0.01 | $0.02 | $0.15*  | $0.25 | $0.40
4th Quarter  | $0.02 | $0.01 | $0.03 | $0.26 | $0.38
Total | $0.10 | $0.07 | $0.58 | $1.37 | $1.38


Question: What is the average quarterly dividend payments per share in the first quarter of 2018 and 2019?
Answer: 0.04
Calculation: (0.03 + 0.04)/2
note 15 : chipset design issue in january 2011 , as part of our ongoing quality assurance procedures , we identified a design issue with the intel ae 6 series express chipset family . the issue affected chipsets sold in the fourth quarter of 2010 and january 2011 . we subsequently implemented a silicon fix and began shipping the updated version of the affected chipset in february 2011 . the total cost in 2011 to repair and replace affected materials and systems , located with customers and in the market , was $ 422 million . we do not expect to have any significant future adjustments related to this issue . note 16 : borrowings short-term debt as of december 28 , 2013 , short-term debt consisted of drafts payable of $ 257 million and notes payable of $ 24 million ( drafts payable of $ 264 million and notes payable of $ 48 million as of december 29 , 2012 ) . we have an ongoing authorization from our board of directors to borrow up to $ 3.0 billion , including through the issuance of commercial paper . maximum borrowings under our commercial paper program during 2013 were $ 300 million ( $ 500 million during 2012 ) . our commercial paper was rated a-1+ by standard & poor 2019s and p-1 by moody 2019s as of december 28 , 2013 . long-term debt our long-term debt at the end of each period was as follows : ( in millions ) dec 28 , dec 29 .

Table:
( in millions ) | dec 282013 | dec 292012
2012 senior notes due 2017 at 1.35% ( 1.35 % ) | $ 2997 | $ 2997
2012 senior notes due 2022 at 2.70% ( 2.70 % ) | 1494 | 1494
2012 senior notes due 2032 at 4.00% ( 4.00 % ) | 744 | 743
2012 senior notes due 2042 at 4.25% ( 4.25 % ) | 924 | 924
2011 senior notes due 2016 at 1.95% ( 1.95 % ) | 1499 | 1498
2011 senior notes due 2021 at 3.30% ( 3.30 % ) | 1996 | 1996
2011 senior notes due 2041 at 4.80% ( 4.80 % ) | 1490 | 1489
2009 junior subordinated convertible debentures due 2039 at 3.25% ( 3.25 % ) | 1075 | 1063
2005 junior subordinated convertible debentures due 2035 at 2.95% ( 2.95 % ) | 946 | 932
total long-term debt | $ 13165 | $ 13136
senior notes in the fourth quarter of 2012 , we issued $ 6.2 billion aggregate principal amount of senior unsecured notes for general corporate purposes and to repurchase shares of our common stock pursuant to our authorized common stock repurchase program .
in the third quarter of 2011 , we issued $ 5.0 billion aggregate principal amount of senior unsecured notes , primarily to repurchase shares of our common stock pursuant to our authorized common stock repurchase program , and for general corporate purposes .
our senior notes pay a fixed rate of interest semiannually .
we may redeem our senior notes , in whole or in part , at any time at our option at specified redemption prices .
the senior notes rank equally in right of payment with all of our other existing and future senior unsecured indebtedness and will effectively rank junior to all liabilities of our subsidiaries .
table of contents intel corporation notes to consolidated financial statements ( continued ) .

Question: what is the net cash flow from long-term debt during 2013?
Answer: 29
Calculation: subtract(13165, 13136)
Free Cash Flow
We monitor our free cash flow, as a key measure of our overall business performance, which enables us to analyze our financial performance without the effects of certain non-cash items such as depreciation, amortization, and stock-based compensation expenses. Additionally, free cash flow takes into account the impact of changes in deferred revenue, which reflects the receipt of cash payment for products before they are recognized as revenue, and unbilled accounts receivable, which reflects revenue that has been recognized that has yet to be invoiced to our customers.
Our net cash provided by (used in) operating activities is significantly impacted by the timing of invoicing and collections of accounts receivable, the timing and amount of annual bonus payments, as well as payroll and tax payments. Our capital expenditures consisted of purchases of property and equipment, most of which were computer hardware, software, capitalized software development costs, and leasehold improvements.
In fiscal year 2019, free cash flow was impacted by $23.6 million related to the build out and furnishing of our new corporate headquarters in San Mateo, California. For a further discussion of our operating cash flows, see “Liquidity and Capital Resources - Cash Flows.”(in thousands)
Table:
 | Fiscal years ended July 31, | 
 | 2019 | 2018
Net cash provided by operating activities | $116,126 | $140,459
Net cash used for capital expenditures | (48,857) | (12,011)
Free cash flow | $67,269 | $128,448


Question: What was the Net cash provided by operating activities in 2019 and 2018 respectively?
Answer: $116,126, $140,459
GAAP Results of Operations
Key Performance Indicators* (in millions):
* excludes discontinued operations (See Note 5 of Notes to Consolidated Financial Statements).
** excludes special charges, net (See Note 5 of Notes to Consolidated Financial Statements).
1 Includes $20.0 million of income tax benefits primarily related to the reversal of valuation allowances against the Company's deferred tax assets and the
impacts of U.S. tax reform enacted in Q4 of 2017.
Table:
 |  | Years Ended December 31, |  | Change | 
 | 2019 | 2018 | 2017 | 2019 vs 2018 | 2018 vs 2017
Net sales of continuing operations |  |  |  |  | 
Consolidated net sales | $946.9 | $896.9 | $791.8 | 5.6% | 13.3%
Consolidated gross profits | $325.7 | $307.7 | $273.2 | 5.8% | 12.6%
Consolidated gross margin | 34.4% | 34.3% | 34.5% | 0.1% | (0.2)%
Consolidated SD&A costs ** | $260.4 | $245.2 | $227.2 | 6.2% | 7.9%
Consolidated SD&A costs ** as % of sales | 27.5% | 27.3% | 28.7% | 0.2% | (1.4)%
Consolidated operating income | $66.1 | $61.7 | $45.7 | 7.1% | 35.0%
Consolidated operating margin from continuing operations | 7.0% | 6.9% | 5.8% | 0.1% | 1.1%
Effective income tax rate | 24.4% | 21.3% | (44.0)% | 3.1% | 65.3%
Net income from continuing operations | $50.0 | $49.5 | 65.5 (1) | 1.0% | (24.4)%
Net margin from continuing operations | 5.3% | 5.5% | 8.3% | (0.2)% | (2.8)%
Income (loss) from discontinued operations, net of tax $ | $(1.5) | $175.2 | $(25.1) | (100.9)% | 798.0%


Question: What is the change in consolidated gross margins between 2019 vs 2018 and 2018 vs 2017 respectively?
Answer: 0.1%, (0.2)%
15. QUARTERLY FINANCIAL INFORMATION (UNAUDITED)
During the quarter ended December 31, 2019, we purchased a group annuity contract to transfer the pension benefit obligations and annuity administration for a select group of retirees or their beneficiaries to an annuity provider. As a result of the transfer of the pension liability to the annuity provider and other lump sum payments to participants of the Pension Plans, we recognized a non-cash pension settlement charge of $6.7 million during the quarter ended December 31, 2019.
In 2019, we recognized a gain on extinguishment of debt from the partial repurchase of our Senior Notes of $0.3 million, $1.1 million and $3.1 million during the quarters ended June 30, 2019, September 30, 2019, and December 31, 2019, respectively.
As part of our integration efforts of FairPoint and continued cost saving initiatives, we incurred severance costs of $8.7 million during the quarter ended December 31, 2019.
Table:
 |  | Quarter Ended |  | 
2019 | March 31, | June 30, | September 30, | December 31,
 |  | (In thousands, except per share amounts) |  | 
Net revenues | $338,649 | $333,532 | $333,326 | $331,035
Operating income | $16,720 | $14,300 | $23,542 | $26,719
Net income (loss) attributable to common stockholders | $(7,265) | $(7,387) | $257 | $(5,988)
Basic and diluted earnings (loss) per share | $(0.11) | $(0.10) | $— | $(0.08)


Question: What was the non-cash pension settlement charge recognized in the quarter ended 31 December 2019?
Answer: $6.7 million
STOCK OPTIONS
The following is a summary of stock option activity during the years ended December 31, 2019 and 2018:
Table:
 | Number of Options Outstanding | Weighted Average Exercise Price | Average Remaining Contractual Life (in years) | Aggregate Intrinsic Value (thousands)
Outstanding – December 31, 2017 | 2,341,340 | $1.77 | 5.78 | $1,087
Options granted | 376,667 | 2.41 |  | 
Options exercised | 224,400 | 1.59 |  | 
Options forfeited | 6,961 | 1.42 |  | 
Outstanding – December 31, 2018 | 2,486,646 | $1.89 | 7.01 | $1,550
Options granted | 50,832 | 3.02 |  | 
Options exercised | - |  |  | 
Options forfeited | 181,281 | 2.23 |  | 
Outstanding – December 31, 2019 | 2,356,197 | $1.89 | 5.93 | $628
Exercisable – December 31, 2019 | 1,843,468 | $1.75 | 5.34 | $624


Question: What is the average number of outstanding options as at December 31, 2017 and 2018?
Answer: 2413993
Calculation: (2,341,340 + 2,486,646)/2
Fiscal Year Ended 2019 and 2018 Revenues
* Adjusted IFRS balances to reflect the impact of the full retrospective adoption of IFRS 15. See Note 2 of the notes to our consolidated financial statements for further details.
Total revenues increased $329.1 million, or 37%, in the fiscal year ended June 30, 2019 compared to the fiscal year ended June 30, 2018. Growth in total revenues was attributable to increased demand for our products from both new and existing customers. Of total revenues recognized in the fiscal year ended June 30, 2019, over 90% was attributable to sales to customer accounts existing on or before June 30, 2018. Our number of total customers increased to 152,727 at June 30, 2019 from 125,796 at June 30, 2018.
Subscription revenues increased $223.3 million, or 54%, in the fiscal year ended June 30, 2019 compared to the fiscal year ended June 30, 2018. The increase in subscription revenues was primarily attributable to additional subscriptions from our existing customer base. As customers increasingly adopt cloud-based, subscription services and term-based licenses of our Data Center products for their business needs, we expect our subscription revenues to continue to increase at a rate higher than the rate of increase of our perpetual license revenues in future periods.
Maintenance revenues increased $68.0 million, or 21%, in the fiscal year ended June 30, 2019 compared to the fiscal year ended June 30, 2018. The increase in maintenance revenues was primarily attributable to growing renewal of software maintenance contracts from our customers related to our perpetual license software offerings.
Perpetual license revenues increased $10.4 million, or 13%, in the fiscal year ended June 30, 2019 compared to the fiscal year ended June 30, 2018. A substantial majority of the increase in perpetual license revenues was attributable to additional licenses to existing customers.
Other revenues increased $27.5 million, or 45%, in the fiscal year ended June 30, 2019 compared to the fiscal year ended June 30, 2018. The increase in other revenues was primarily attributable to an increase in revenue from sales of third-party apps through our Atlassian Marketplace.
Table:
 | Fiscal Year Ended June 30, |  |  | 
 | 2019 | 2018 | $ Change | % Change
 |  | (U.S. $ in thousands) |  | 
 |  | *As Adjusted |  | 
Subscription | $633,950 | $410,694 | $223,256 | 54%
Maintenance | 394,526 | 326,511 | 68,015 | 21
Perpetual license | 93,593 | 83,171 | 10,422 | 13
Other | 88,058 | 60,602 | 27,456 | 45
Total revenues | $1,210,127 | $880,978 | $329,149 | 37


Question: What is the average maintenance revenues for fiscal year ended 2018 and 2019?
Answer: 360518.5
Calculation: (394,526+326,511)/2
GasLog Ltd. and its Subsidiaries
Notes to the consolidated financial statements (Continued)
For the years ended December 31, 2017, 2018 and 2019
(All amounts expressed in thousands of U.S. Dollars, except share and per share data)
14. Other Payables and Accruals
An analysis of other payables and accruals is as follows:
The unearned revenue represents charter hires received in advance in December 2019 relating to the hire period of January 2020 for 22 vessels (December 2018: 17 vessels).
Table:
 | As of December 31, | 
 | 2018 | 2019
Unearned revenue | 38,680 | 48,183
Accrued off-hire | 7,376 | 6,968
Accrued purchases | 18,578 | 9,759
Accrued interest | 38,107 | 36,746
Other accruals | 24,709 | 34,586
Total | 127,450 | 136,242


Question: What was the change in accrued purchases from 2018 to 2019?
Answer: -8819
Calculation: 9,759 - 18,578
DERIVATIVE LIABILITIES
In connection with the issuance of Series A-1 Preferred Stock in June 2017, the Company issued a warrant with variable consideration through September 2018. The Company determined that this instrument is an embedded derivative pursuant to ASC 815, “Derivatives and Hedging.” The accounting treatment of derivative financial instruments requires that the Company record the warrant, at its fair value as of the inception date of the agreement and at fair value as of each subsequent balance sheet date through the expiration of the variable consideration. Any change in fair value is recorded as a change in the fair value of derivative liabilities for each reporting period at each balance sheet date. The Company reassesses the classification at each balance sheet date. If the classification changes as a result of events during the period, the contract is reclassified as of the date of the event that caused the reclassification. On September 19, 2018, upon expiration of the variable consideration, the warrant liability of $4.5 million was reclassified to equity.
The Monte Carlo Valuation model is used to estimate the fair value of the warrant. The model was developed for use in estimating the fair value of traded options or warrants. The expected volatility is estimated based on the most recent historical period of time equal to the weighted average life of the instrument granted.
The risk-free interest rate used is the United States Treasury rate for the day of the grant having a term equal to the life of the equity instrument. The volatility is a measure of the amount by which the Company’s share price has fluctuated or is expected to fluctuate. The dividend yield is zero as the Company has not made any dividend payment and has no plans to pay dividends in the foreseeable future. The Company determines the expected term of its warrant awards by using the contractual term.
The principal assumptions used in applying the model were as follows:
Table:
 | Upon 2018 Expiration | December 31, 2017
Assumptions: |  | 
Risk-free interest rate | 2.3% - 2.5% | 1.5% - 2.0%
Expected life | 1.8 - 2.2 Years | 2.5 - 3 Years
Expected volatility | 65% - 70% | 50% - 60%
Dividends | 0% | 0%


Question: What is the average expected life upon 2018 expiration?
Answer: 2
Calculation: (1.8 + 2.2)/2
34. Share-based payment continued
3.8 million share incentives were granted during 2019 (2018 2.7 million). The fair value of share incentives has been estimated as at the date of grant using the Black-Scholes binomial model. The following table gives the assumptions made in arriving at the share-based payment charge and the fair value:
The expected volatility was determined by calculating the historical volatility of the Company’s share price over the previous two years which management considers to be the period which is likely to be most representative of future volatility. The risk free rate is calculated by reference to UK government bonds.
Table:
 | 2019 | 2018
Weighted average share price (pence) | 163.1 | 112.9
Weighted average exercise price (pence) | 0.0 | 0.0
Weighted average fair value (pence) | 141.1 | 95.1
Expected volatility (%) | 31.6–32.8 | 30.6
Option life (years): |  | 
– Performance Shares | 3.0 | 3.0
– Options and SARs | 10.0 | 10.0
Risk free rate (%) | 0.48-0.72 | 0.88
Dividend yield (%) | 2.5–3.0 | 3.0


Question: What was the percentage change in the Weighted average share price (pence)?
Answer: 44.46
Calculation: (163.1-112.9)/112.9
Research, Development and Engineering Expense
NM—Not meaningful
Research, development and engineering (RD&E) expense was 7.8 percent of revenue in 2019 and 6.8 percent of revenue in 2018.
RD&E expense increased 11.3 percent in 2019 versus 2018 primarily driven by: • Higher spending (11 points) including investment in the z15 and Red Hat spending in the second half of 2019 (8 points); and • Higher acquisition-related charges associated with the Red Hat transaction (1 point); partially offset by • The effects of currency (1 point).
Operating (non-GAAP) expense increased 10.4 percent year to year primarily driven by the same factors excluding the acquisition-related charges associated with the Red Hat transaction.
Table:
($ in million) |  |  | 
For the year ended December 31: | 2019 | 2018 | Yr.-to-Yr. Percent Change
Total consolidated research, development and engineering | $5,989 | $5,379 | 11.3%
Non-operating adjustment |  |  | 
Acquisition-related charges | (53) | - | NM
Operating (non-GAAP) research, development and engineering | $5,936 | $5,379 | 10.4%


Question: What was the average Acquisition-related charges?
Answer: -26.5
Calculation: (-53 + 0) / 2
Free Cash Flow. Free cash flow represents net cash provided by operating activities minus capital expenditures and capitalized software development costs. Free cash flow is a measure used by management to understand and evaluate our core operating performance and trends and to generate future operating plans.
The exclusion of capital expenditures and amounts capitalized for internally-developed software facilitates comparisons of our operating performance on a period-to-period basis and excludes items that we do not consider to be indicative of our core operating performance. Free cash flow is not a measure calculated in accordance with GAAP. We believe that free cash flow provides useful information to investors and others in understanding and evaluating our operating results in the same manner as our management and board of directors.
Nevertheless, our use of free cash flow has limitations as an analytical tool, and you should not consider it in isolation or as a substitute for analysis of our financial results as reported under GAAP. You should consider free cash flow alongside our other GAAP-based financial performance measures, net cash provided by operating activities, and our other GAAP financial results. The following table presents a reconciliation of free cash flow to net cash for operating activities, the most directly comparable GAAP measure, for each of the periods indicated (in thousands):
Table:
 |  | Year Ended December 31, | 
 | 2019 | 2018 | 2017
Net cash provided by operating activities | $10,317 | $3,295 | $4,863
Capital expenditures | (5,269) | (1,721) | (1,667)
Capitalized software development costs | (7,819) | (8,499) | (6,160)
Free cash flow | $(2,771) | $(6,925) | $(2,964)


Question: What was the average Net cash provided by operating activities from 2017-2019?
Answer: 6158.33
Calculation: (10,317 + 3,295 + 4,863) / 3
Property and Equipment
Property and equipment are as follows (in thousands):
(1) In the fourth quarter 2019, the Company announced its decision to exit the San Jose California facility (“SJ Facility”) by March 31, 2020. The Company accelerated the amortization of its SJ Facility leasehold improvements over the remaining estimated life which is estimated to be through March 31, 2020. As of December 31, 2019, the net book value of the SJ Facility leasehold improvements was $0.9 million and will be fully amortized by March 31, 2020.
Table:
December 31, |  | 
 | 2019 | 2018
Computer equipment and purchased software | $3,011 | $3,167
Machinery and equipment | 699 | 821
Furniture and fixtures | 1,115 | 1,113
Leasehold improvements (1) | 3,897 | 3,897
Total | 8,722 | 8,998
Less accumulated depreciation and amortization (1) | (7,496) | (6,655)
Property and equipment, net | $1,226 | $2,343


Question: What was the average Furniture and fixtures for 2018 and 2019?
Answer: 1114
Calculation: (1,115 + 1,113) / 2
PREPAYMENTS, DEPOSITS AND OTHER ASSETS
Note: (a) As at 31 December 2019, the balances of loans to investees and investees’ shareholders are mainly repayable within a period of one to five years (included in non-current assets), or within one year (included in current assets), and are interest-bearing at rates of not higher than 12.0% per annum (31 December 2018: not higher than 12.0% per annum).
(b) Running royalty fees for online games comprised prepaid royalty fees, unamortised running royalty fees and deferred Online Service Fees.
As at 31 December 2019, the carrying amounts of deposits and other assets (excludes prepayments and refundable value-added tax) approximated their fair values. Deposits and other assets were neither past due nor impaired.
Table:
 | As at 31 December | 
 | 2019 | 2018
 | RMB’Million | RMB’Million
Included in non-current assets: |  | 
Prepayments for media contents | 15,731 | 13,652
Loans to investees and investees’ shareholders (Note (a)) | 937 | 3,864
Prepayments for capital investments in investees | 587 | 619
Running royalty fees for online games (Note (b)) | 564 | 99
Others | 5,623 | 3,297
 | 23,442 | 21,531
Included in current assets: |  | 
Running royalty fees for online games (Note (b)) | 10,888 | 5,230
Prepayments and prepaid expenses | 8,353 | 7,532
Interest receivables | 2,774 | 1,697
Lease deposits and other deposits | 1,107 | 693
Dividend and other investment-related receivables | 1,034 | 338
Refundable value-added tax | 629 | 915
Loans to investees and investees’ shareholders (Note (a)) | 447 | 225
Others | 2,608 | 1,863
 | 27,840 | 18,493
 | 51,282 | 40,024


Question: How much did the interest receivables between 2018 year end and 2019 year end change by?
Answer: 1077
Calculation: 2,774-1,697