hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
The fair value of each option grant was estimated on the date of grant using the Black-Scholes option pricing model using the following weighted average assumptions:
Based on the Black-Scholes option pricing model, the weighted average estimated fair value of employee stock options granted was $4.63 and $2.58 per share during the years ended December 31, 2019 and 2018, respectively.
The expected life was determined using the simplified method outlined in ASC 718, “Compensation - Stock Compensation”. Expected volatility of the stock options was based upon historical data and other relevant factors. We have not provided an estimate for forfeitures because we have had nominal forfeited options and RSUs and believed that all outstanding options and RSUs at December 31, 2019, would vest.
Table:
 | Year Ended | Year Ended
 | December 31, 2019 | December 31, 2018
Expected stock price volatility | 92.34% | 85.26%
Risk-free interest rate | 2.09% | 2.73%
Expected life term | 6.14 years | 6.02 years
Expected dividends | 0% | 0%


Question: How was the expected life determined?
Answer: Using the simplified method outlined in ASC 718, “Compensation - Stock Compensation”
Interest Cost
The following table presents the amount of interest cost recognized relating to both the contractual interest coupon and amortization of the debt discount, issuance costs, and effective portion of interest rate contracts with respect to the Senior Notes, convertible notes, the term loan agreement, commercial paper, and the revolving credit facility during the fiscal years ended June 30, 2019, June 24, 2018, and June 25, 2017.
The increase in interest expense during the 12 months ended June 30, 2019, is primarily the result of the issuance of $2.5 billion of Senior Notes in March 2019.
Table:
 |  | YearEnded | 
 | June 30, 2019 | June 24, 2018 | June 25, 2017
 |  | (in thousands) | 
Contractual interest coupon | $100,712 | $77,091 | $95,195
Amortization of interest discount | 3,937 | 12,225 | 22,873
Amortization of issuance costs | 1,426 | 2,034 | 2,414
Effect of interest rate contracts, net | 4,086 | 3 | (4,756)
Total interest cost recognized | $110,161 | $91,353 | $115,726


Question: What is the percentage change in the total interest cost recognised from 2018 to 2019?
Answer: 20.59
Calculation: (110,161-91,353)/91,353
Finite-lived Intangible Assets
Other intangible assets, net consisted of the following:
The remaining $152 of intangible asset at December 31, 2019 is expected to be amortized in 2020.
Table:
 |  | December 31,
 | 2019 | 2018
Recipes | $ 44 | $ 44
Customer lists and other customer related intangibles | 4,529 | 4,529
Customer relationships | 985 | 985
Trade names | 2,248 | 2,248
Formula | 438 | 438
 | 8,244 | 8,244
Accumulated amortization | (8,092 ) | (7,900 )
Intangible assets, net | $ 152 | $ 344


Question: Which year has a higher value of net intangible assets?
Answer: 2018
Calculation: Compare the net intangible assets value between the years
Stock Option Activity - The weighted-average fair value of options granted during the years ended December 31, 2019, 2018 and 2017, as determined under the Black-Scholes-Merton valuation model, was $12.07, $10.42 and $6.75, respectively. Option grants that vested during the years ended December 31, 2019, 2018 and 2017 had a combined fair value of $2.5 million, $1.5 million and $1.7 million, respectively.
The following table summarizes stock option activity for the years ended December 31, 2019, 2018 and 2017:
Table:
 | Number of Shares | Weighted Average Exercise Price | Aggregate Intrinsic Value (in thousands) | Weighted Average Remaining Contractual Life
Stock options outstanding at December 31, 2016 | 1,160,419 | $29.93 | $14,299 | 
Granted | 534,030 | $42.90 |  | 
Exercised | (463,800) | $29.34 | $7,203 | 
Cancelled and expired | (61,241) | $33.80 |  | 
Stock options outstanding at December 31, 2017 | 1,169,408 | $35.88 | $16,731 | 
Granted | 466,828 | $54.87 |  | 
Exercised | (420,524) | $30.05 | $12,411 | 
Cancelled and expired | (122,312) | $43.85 |  | 
Stock options outstanding at December 31, 2018 | 1,093,400 | $45.34 | $8,776 | 
Granted | 489,947 | $63.87 |  | 
Exercised | (338,748) | $37.94 | $9,641 | 
Cancelled and expired | (108,504) | $51.21 |  | 
Stock options outstanding at December 31, 2019 | 1,136,095 | $54.98 | $28,291 | 4 years
Stock options exercisable at December 31, 2019 | 290,540 | $44.90 | $10,163 | 3 years


Question: What was the number of stock options that were outstanding at December 31, 2017?
Answer: 1,169,408
4 . business restructuring and cost reduction actions the charges we record for business restructuring and cost reduction actions have been excluded from segment operating income and are reflected on the consolidated income statements as 201cbusiness restructuring and cost reduction actions . 201d 2014 charge on 18 september 2014 , we announced plans to reorganize the company , including realignment of our businesses in new reporting segments and organizational changes , effective as of 1 october 2014 . refer to note 25 , business segment and geographic information , for additional details . as a result of this initiative , we will incur ongoing severance and other charges . during the fourth quarter of 2014 , an expense of $ 12.7 ( $ 8.2 after-tax , or $ .04 per share ) was incurred relating to the elimination of approximately 50 positions . the 2014 charge related to the businesses at the segment level as follows : $ 4.4 in merchant gases , $ 4.1 in tonnage gases , $ 2.4 in electronics and performance materials , and $ 1.8 in equipment and energy . 2013 plan during the fourth quarter of 2013 , we recorded an expense of $ 231.6 ( $ 157.9 after-tax , or $ .74 per share ) reflecting actions to better align our cost structure with current market conditions . the asset and contract actions primarily impacted the electronics business due to continued weakness in the photovoltaic ( pv ) and light-emitting diode ( led ) markets . the severance and other contractual benefits primarily impacted our merchant gases business and corporate functions in response to weaker than expected business conditions in europe and asia , reorganization of our operations and functional areas , and previously announced senior executive changes . the remaining planned actions associated with severance were completed in the first quarter of 2015 . the 2013 charges relate to the businesses at the segment level as follows : $ 61.0 in merchant gases , $ 28.6 in tonnage gases , $ 141.0 in electronics and performance materials , and $ 1.0 in equipment and energy . the following table summarizes the carrying amount of the accrual for the 2013 plan at 30 september 2014 : severance and other benefits actions contract actions/other total .

Table:
 | severance and other benefits | asset actions | contract actions/other | total
2013 charge | $ 71.9 | $ 100.4 | $ 59.3 | $ 231.6
amount reflected in pension liability | -6.9 ( 6.9 ) | 2014 | 2014 | -6.9 ( 6.9 )
noncash expenses | 2014 | -100.4 ( 100.4 ) | 2014 | -100.4 ( 100.4 )
cash expenditures | -3.0 ( 3.0 ) | 2014 | -58.5 ( 58.5 ) | -61.5 ( 61.5 )
currency translation adjustment | .4 | 2014 | 2014 | .4
30 september 2013 | $ 62.4 | $ 2014 | $ .8 | $ 63.2
cash expenditures | -51.7 ( 51.7 ) | 2014 | -.8 ( .8 ) | -52.5 ( 52.5 )
currency translation adjustment | -.6 ( .6 ) | 2014 | 2014 | -.6 ( .6 )
30 september 2014 | $ 10.1 | $ 2014 | $ 2014 | $ 10.1
.

Question: taking into account the 2014 charge related to the businesses for a segment , what is the percentage of the merchant gases segment concerning all of them?
Answer: 34.64%
Calculation: add(4.4, 4.1), add(2.4, 1.8), add(#0, #1), divide(4.4, #2)
14. DEFINED BENEFIT PLANS (Continued)
The information for plans with an accumulated benefit obligation in excess of plan assets is as follows (in thousands):
Table:
 | Fiscal year-end | 
 | 2019 | 2018
Projected benefit obligation | $60,437 | $51,499
Accumulated benefit obligation | 55,941 | 47,713
Fair value of plan assets | 12,997 | 12,486


Question: In which year was the Fair value of plan assets larger?
Answer: 2019
Calculation: 12,997>12,486
AMERICAN TOWER CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Tabular amounts in millions, unless otherwise disclosed) net foreign currency losses
(“AOCL”) in the consolidated balance sheets and included as a component of Comprehensive income in the consolidated
statements of comprehensive income.
Gains and losses on foreign currency transactions are reflected in Other expense in the consolidated statements of operations. However, the effect from fluctuations in foreign currency exchange rates on intercompany debt for which repayment is not anticipated in the foreseeable future is reflected in AOCL in the consolidated balance sheets and included as a component of Comprehensive income.
The Company recorded the following net foreign currency losses:
Table:
 |  | Year Ended December 31, | 
 | 2019 | 2018 | 2017
Foreign currency losses recorded in AOCL | $45.8 | $385.8 | $51.6
Foreign currency (gains) losses recorded in Other expense | (6.1) | 4.5 | (26.4)
Total foreign currency losses | $39.7 | $390.3 | $25.2


Question: What was the change in Foreign currency (gains) losses recorded in Other expense between 2017 and 2018?
Answer: 30.9
Calculation: 4.5-(-26.4)
The following tabl e reconciles total operating segment revenues to total revenues as well as total operating segment margin to income before provision for income taxes:
(1) Cloud and license revenues presented for management reporting included revenues related to cloud and license obligations that would have otherwise been recorded by the acquired businesses as independent entities but were not recognized in our consolidated statements of operations for the periods presented due to business combination accounting requirements. See Note 9 for an explanation of these adjustments and this table for a reconciliation of our total operating segment revenues to our total revenues as reported in our consolidated statements of operations.
Table:
Year Ended May 31, |  |  | 
(in millions) | 2019 | 2018 | 2017
Total revenues for operating segments | $39,526 | $39,430 | $37,963
Cloud and license revenues (1) | (20) | (47) | (171)
Total revenues | $39,506 | $39,383 | $37,792
Total margin for operating segments | $23,981 | $23,857 | $23,208
Cloud and license revenues (1) | (20) | (47) | (171)
research and development | (6,026) | (6,084) | (6,153)
General and administrative | (1,265) | (1,282) | (1,172)
Amortization of intangible assets | (1,689) | (1,620) | (1,451)
Acquisition related and other | (44) | (52) | (103)
restructuring | (443) | (588) | (463)
Stock-based compensation for operating segments | (518) | (505) | (415)
Expense allocations and other, net | (441) | (415) | (367)
Interest expense | (2,082) | (2,025) | (1,798)
Non-operating income, net | 815 | 1,185 | 565
Income before provision for income taxes | $12,268 | $12,424 | $11,680


Question: Does the values in the table represent values before or after provision of income taxes?
Answer: The following tabl e reconciles total operating segment revenues to total revenues as well as total operating segment margin to income before provision for income taxes
Operating Expenses
Cost of Services Cost of services increased $549 million, or 3.6%, during 2019 compared to 2018, primarily due to increases in rent expense as a result of adding capacity to the networks to support demand as well as an increase due to the adoption of the new lease accounting standard in 2019, increases in costs related to the device protection package offered to our wireless retail postpaid customers, as well as regulatory fees.
These increases were partially offset by decreases in employee-related costs primarily due to the Voluntary Separation Program, as well as decreases in access costs and roaming.
Cost of Wireless Equipment Cost of wireless equipment decreased $544 million, or 2.9%, during 2019 compared to 2018, primarily as a result of declines in the number of wireless devices sold as a result of an elongation of the handset upgrade cycle. These decrease were partially offset by a shift to higher priced devices in the mix of wireless devices sold.
Selling, General and Administrative Expense Selling, general and administrative expense increased $938 million, or 6.0%, during 2019 compared to 2018, primarily due to increases in sales commission and bad debt expense, and an increase in advertising costs. The increase in sales commission expense during 2019 compared to 2018 was primarily due to a lower net deferral of commission costs as a result of the adoption of Topic 606 on January 1, 2018 using a modified retrospective approach.
These increases were partially offset by decreases in employee-related costs primarily due to the Voluntary Separation Program.
Depreciation and Amortization Expense Depreciation and amortization expense decreased $599 million, or 5.0%, during 2019 compared to 2018, driven by the change in the mix of total Verizon depreciable assets and Consumer’s usage of those assets.
Table:
 |  |  | (dollars in millions) Increase/ (Decrease) | 
Years Ended December 31, | 2019 | 2018 | 2019 vs. 2018 | 
Cost of services  | $15,884 | $15,335 | $ 549 | 3.6%
Cost of wireless equipment  | 18,219 | 18,763 | (544) | (2.9)
Selling, general and administrative expense  | 16,639 | 15,701 | 938 | 6.0
Depreciation and amortization expense  | 11,353 | 11,952 | (599) | (5.0)
Total Operating Expenses  | $ 62,095 | $ 61,751 | $ 344 | 0.6


Question: What is the change in Cost of wireless equipment from 2018 to 2019?
Answer: -544
Calculation: 18,219-18,763
Foreign Currency Exchange Rate Risk
As part of managing the exposure to changes in foreign currency exchange rates, we utilize cross-currency swap contracts and foreign currency forward contracts, a portion of which are designated as cash flow hedges. The objective of these contracts is to minimize impacts to cash flows and profitability due to changes in foreign currency exchange rates on intercompany and other cash transactions. We expect that significantly all of the balance in accumulated other comprehensive income (loss) associated with the cash flow hedge-designated instruments addressing foreign exchange risks will be reclassified into the Consolidated Statement of Operations within the next twelve months.
During fiscal 2015, we entered into cross-currency swap contracts with an aggregate notional value of €1,000 million to reduce our exposure to foreign currency exchange rate risk associated with certain intercompany loans. Under the terms of these contracts, which have been designated as cash flow hedges, we make interest payments in euros at 3.50% per annum and receive interest in U.S. dollars at a weighted-average rate of 5.33% per annum. Upon the maturity of these contracts in fiscal 2022, we will pay the notional value of the contracts in euros and receive U.S. dollars from our counterparties. In connection with the cross-currency swap contracts, both counterparties to each contract are required to provide cash collateral.
At fiscal year end 2019, these cross-currency swap contracts were in an asset position of $19 million and were recorded in other assets on the Consolidated Balance Sheet. The cross-currency swap contracts were in a liability position of $100 million and were recorded in other liabilities on the Consolidated Balance Sheet at fiscal year end 2018. At fiscal year end 2019 and 2018, collateral received from or paid to our counterparties approximated the derivative positions and was recorded in accrued and other current liabilities (when the contracts are in an asset position) or prepaid expenses and other current assets (when the contracts are in a liability position) on the Consolidated Balance Sheets. The impacts of these cross-currency swap contracts were as follows:
(1) Gains and losses excluded from the hedging relationship are recognized prospectively in selling, general, and administrative expenses and are offset by losses and gains generated as a result of re-measuring certain intercompany loans to the U.S. dollar.
Table:
 |  | Fiscal | 
 | 2019 | 2018 | 2017
 |  | (in millions) | 
Gains (losses) recorded in other comprehensive income (loss) | $ 53 | $  (25) | $ (20)
Gains (losses) excluded from the hedging relationship (1) | 66 | 21 | (58)


Question: What are the components of the impacts of cross-currency swap contracts in the table?
Answer: Gains (losses) recorded in other comprehensive income (loss), Gains (losses) excluded from the hedging relationship
Ernst & Young LLP
Ernst & Young LLP fees incurred by us for fiscal 2018 and 2019 were as follows:
Audit Fees: Audit fees for fiscal 2018 and 2019 were for professional services rendered in connection with audits of our consolidated financial statements, statutory audits of our subsidiary companies, quarterly reviews, and assistance with documents that we filed with the SEC (including our Forms 10-Q and 8-K) for periods covering fiscal 2018 and 2019.
Audit-Related Fees: Audit-related fees for 2018 and 2019 were for professional services rendered in connection with consultations with management on various accounting matters, including audit of financial
statements of a carve-out entity and sell-side due diligence with respect to our previously announced Spin-Off.
Tax Fees: Tax fees for 2018 and 2019 were for tax compliance and consulting services.
All Other Fees: Other fees in 2018 and 2019 were for access to technical accounting services.
Table:
Services | 2018 ($) | 2019 ($)
Audit Fees | 5,859,755 | 5,024,093
Audit-Related Fees | 137,420 | 3,178,737
Tax Fees | 1,440,168 | 2,346,879
All Other Fees | 11,200 | 10,955
Total | 7,448,544 | 10,560,664


Question: Which year was the tax fees higher?
Answer: 2019
Calculation: 2,346,879 > 1,440,168
Comparison of Years Ended December 31, 2019 to December 31, 2018
The following tables in this section set forth our selected consolidated statements of operations (in thousands), data for the percentage change and data as a percentage of revenue for the years ended December 31, 2019 and 2018. Certain previously reported amounts in the consolidated statements of operations for the year ended December 31, 2018 have been reclassified to conform to our current presentation to reflect interest income as a separate line item, which was previously included in other income, net.
Cost of Revenue
(1) Excludes amortization and depreciation shown in operating expenses.
The $37.9 million increase in cost of revenue in 2019 as compared to 2018 was the result of a $32.8 million, or 32%, increase in cost of hardware and other revenue and a $5.1 million, or 11%, increase in cost of SaaS and license revenue. Our cost of software license revenue included within cost of SaaS and license revenue decreased $0.4 million to $1.3 million during 2019 as compared to $1.7 million during 2018. The increase in cost of Alarm.com segment hardware and other revenue related primarily to an increase in the number of hardware units shipped in 2019 as compared to 2018. The increase in cost of  corresponding increase in amounts paid to wireless network providers.
Cost of hardware and other revenue as a percentage of hardware and other revenue was 81% and 78% for the years ended December 31, 2019 and 2018, respectively. Cost of SaaS and license revenue as a percentage of SaaS and license revenue was 15% for each of the years ended December 31, 2019 and 2018. Cost of software license revenue as a percentage of software license revenue was 3% and 4% for the years ended December 31, 2019 and 2018, respectively. The increase in cost of hardware and other revenue as a percentage of hardware and other revenue in 2019 as compared to 2018 is a reflection of the mix of product sales during the periods.
Table:
 |  | Year Ended December 31, | % Change
2019 vs. 2018 | 2019 | 2018 | 2019 vs. 2018
Cost of revenue(1): |  |  | 
Cost of SaaS and license revenue | $50,066 | $44,933 | 11%
Cost of hardware and other revenue | 133,533 | 100,782 | 32%
Total cost of revenue | $183,599 | $145,715 | 26%
% of total revenue | 37% | 35% | 


Question: How many costs of revenue exceeded $100,000 thousand in 2019?
Answer: 1
Calculation: Cost of hardware and other revenue
Item 6. Selected Financial Data
Five-Year Financial Summary in millions, except per share data (Fiscal years ended June 30,)
(a) Fiscal year 2019 included $1.2 million of acquisition-related costs related to LPW Technology Ltd. See Note 4 in the Notes to the Consolidated Financial Statements included in Item 8. “Financial Statements and Supplementary Data” of this report.
(b) Fiscal year 2018 included $68.3 million of discrete income tax net benefits related to the U.S. tax reform and other legislative changes. See Note 17 in the Notes to the Consolidated Financial Statements included in Item 8. “Financial Statements and Supplementary Data” of this report.
(c) Fiscal year 2017 included $3.2 million of loss on divestiture of business. See Note 4 in the Notes to the Consolidated Financial Statements included in Item 8. "Financial Statements and Supplementary Data" of this report.
(d) Fiscal year 2016 included $22.5 million of excess inventory write-down charges, $12.5 million of goodwill impairment charges and $18.0 million of restructuring and impairment charges including $7.6 million of impairment of intangible assets and property, plant and equipment and $10.4 million of restructuring costs related primarily to an early retirement incentive and other severance related costs.
(e) Fiscal year 2015 included $29.1 million of restructuring costs related principally to workforce reduction, facility closures and write-down of certain assets.
(f) The weighted average common shares outstanding for fiscal years 2016 and 2015 included 5.5 million and 0.9 million less shares, respectively, related to the share repurchase program authorized in October 2014. During the fiscal years ended June 30, 2016 and 2015, we repurchased 3,762,200 shares and 2,995,272 shares, respectively, of common stock for $123.9 million and $124.5 million, respectively.
See Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations” for discussion of factors that affect the comparability of the “Selected Financial Data”.
Table:
 | 2019 (a) | 2018(b) | 2017(c) | 2016(d)(f) | 2015 (e)(f)
Summary of Operations: |  |  |  |  | 
Net sales | $2,380.2 | $2,157.7 | $1,797.6 | $1,813.4 | $2,226.7
Operating income | $241.4 | $189.3 | $121.5 | $70.8 | $119.3
Net income | $167.0 | $188.5 | $47.0 | $11.3 | $58.7
Financial Position at Year-End: |  |  |  |  | 
Cash and cash equivalents | $27.0 | $56.2 | $66.3 | $82.0 | $70.0
Total assets | $3,187.8 | $3,007.0 | $2,878.1 | $2,794.3 | $2,902.6
Long-term debt, net of current portion | $550.6 | $545.7 | $550.0 | $611.3 | $603.8
Per Common Share: |  |  |  |  | 
Net earnings: |  |  |  |  | 
Basic | $3.46 | $3.96 | $0.99 | $0.23 | $1.11
Diluted | $3.43 | $3.92 | $0.99 | $0.23 | $1.11
Cash dividend-common | $0.80 | $0.72 | $0.72 | $0.72 | $0.72
Weighted Average Common Shares outstanding: |  |  |  |  | 
Basic | 47.7 | 47.2 | 47.0 | 48.1 | 52.6
Diluted | 48.1 | 47.6 | 47.1 | 48.2 | 52.7


Question: What was the change in operating income in 2019 from 2018?
Answer: 52.1
Calculation: $241.4-$189.3