hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
ITEM 6. SELECTED FINANCIAL DATA
The selected consolidated statements of operations data for the years ended December 31, 2019, 2018 and 2017 and the selected consolidated balance sheet data as of December 31, 2019 and 2018 are derived from our audited consolidated financial statements included elsewhere in this Annual Report. The selected consolidated statements of operations data for the years ended December 31, 2016 and 2015 and the selected consolidated balance sheet data as of December 31, 2017, 2016 and 2015 are derived from our audited consolidated financial statements not included in this Annual Report. Our historical results are not necessarily indicative of the results to be expected in the future. The selected financial data should be read together with Item 7. "Management’s Discussion and Analysis of Financial Condition and Results of Operations" and in conjunction with our consolidated financial statements, related notes, and other financial information included elsewhere in this Annual Report. The following tables set forth our selected consolidated financial and other data for the years ended and as of December 31, 2019, 2018, 2017, 2016 and 2015 (in thousands, except share and per share data).
Information about prior period acquisitions that may affect the comparability of the selected financial information presented below is included in Item 1. Business. Information about the $28.0 million expense recorded in general and administrative expense in 2018, which relates to the agreement reached to settle the legal matter alleging violations of the Telephone Consumer Protection Act, or TCPA, and may affect the comparability of the selected financial information presented below, is disclosed in Item 3. “Legal Proceedings.” Information about the $1.7 million of interest recorded within interest income and the $6.9 million of gain recorded within other income, net, in 2019, which relates to promissory note proceeds received from one of our hardware suppliers and proceeds from an acquired promissory note, and may affect the comparability of the selected financial information presented below, is disclosed in Item 7. "Management’s Discussion and Analysis of Financial Condition and Results of Operations."
Certain previously reported amounts in the consolidated statements of operations for the years ended December 31, 2018, 2017, 2016 and 2015 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.
Table:
 |  |  | As of December 31, |  | 
 | 2019 | 2018 | 2017 | 2016 | 2015
Balance sheet and other data: |  |  |  |  | 
Cash and cash equivalents | $119,629 | $146,061 | $96,329 | $140,634 | $128,358
Working capital | 167,879 | 152,793 | 119,433 | 150,485 | 131,971
Total assets | 557,799 | 440,985 | 371,641 | 261,245 | 226,095
Total long-term obligations | 115,143 | 88,126 | 94,311 | 30,297 | 26,885
Total stockholders' equity | 355,651 | 277,589 | 232,827 | 191,249 | 170,131


Question: Which years does the table provide data for total assets?
Answer: 2019, 2018, 2017, 2016, 2015
8. Income Per Share
Basic income per share is calculated by dividing net earnings by the weighted average number of common shares outstanding for the applicable period. Diluted income per share is calculated after adjusting the denominator of the basic income per share calculation for the effect of all potential dilutive common shares outstanding during the period. The following table sets forth the computation of basic and diluted income per share:
For fiscal 2019, options and RSUs of 83,939 were excluded from the computation of diluted net income per share as their effect would have been anti-dilutive. For fiscal 2018 and fiscal 2017, the Company had no options or RSUs that were excluded from the computation of diluted net income per shares. RSAs for 594,382 shares in fiscal 2019, 363,413 shares in fiscal 2018 and 779,000 shares in fiscal 2017 were excluded from the calculation of diluted net income per share as these awards contain performance conditions that would not have been achieved as of the end of each reporting period had the measurement period ended as of that date.
Table:
 | April 27, 2019 | April 28, 2018 | April 29, 2017
Numerator: |  |  | 
Net Income (in millions) | $91.6 | $57.2 | $92.9
Denominator: |  |  | 
Denominator for Basic Earnings Per Share-Weighted Average Shares |  |  | 
Outstanding and Vested/Unissued Restricted Stock Units | 37,405,298 | 37,281,630 | 37,283,096
Dilutive Potential Common Shares-Employee Stock Options, |  |  | 
Restricted Stock Awards and Restricted Stock Units | 264,262 | 260,269 | 202,605
Denominator for Diluted Earnings Per Share | 37,669,560 | 37,541,899 | 37,485,701
Basic and Diluted Income Per Share: |  |  | 
Basic Income Per Share | $2.45 | $1.54 | $2.49
Diluted Income Per Share | $2.43 | $1.52 | $2.48


Question: What amount of RSUs were excluded from the computation of diluted net income per share?
Answer: 83,939
Note 12. Liabilities
The components of accounts payable, accrued expenses and other current liabilities are as follows (in thousands):
Table:
 | December 31, 2019 | December 31, 2018
Accounts payable | $32,878 | $20,214
Accrued expenses | 10,092 | 34,557
Subsidiary unit awards | 141 | 200
Other current liabilities | 5,616 | 3,459
Accounts payable, accrued expenses and other current liabilities | $48,727 | $58,430


Question: How many components in 2018 exceeded $10,000 thousand?
Answer: 2
Calculation: Accounts payable##Accrued expenses
Global Financing Financial Position Key Metrics
(1) Includes deferred initial direct costs which are eliminated in
IBM’s consolidated results.
(2) Includes intercompany mark-up, priced on an arm’s-length basis, on products purchased from the company’s product divisions which is eliminated in IBM’s consolidated results.
(3) Entire amount eliminated for purposes of IBM’s consolidated results and therefore does not appear in the Consolidated Balance Sheet.
(4) These assets, along with all other financing assets in this table, are
leveraged at the value in the table using Global Financing debt.
At December 31, 2019, substantially all financing assets were IT-related assets, and approximately 62 percent of the total external portfolio was with investment-grade clients with no direct exposure to consumers, an increase of 7 points year to year. This investment-grade percentage is based on the credit ratings of the companies in the portfolio.
We have a long-standing practice of taking mitigation actions, in certain circumstances, to transfer credit risk to third parties, including credit insurance, financial guarantees, nonrecourse borrowings, transfers of receivables recorded as true sales in
accordance with accounting guidance or sales of equipment under operating lease. Adjusting for the mitigation actions, the investment-grade content would increase to 67 percent, a decrease of 3 points year to year.
Table:
($ in millions) |  | 
At December 31: | 2019 | 2018
Cash and cash equivalents | $ 1,697 | $ 1,833
Net investment in sales-type and direct financing leases (1) | 6,224 | 6,924
Equipment under operating leases— external clients (2) | 238 | 444
Client loans | 12,884 | 12,802
Total client financing assets | 19,346 | 20,170
Commercial financing receivables | 3,820 | 11,838
Intercompany financing receivables (3) (4) | 3,870 | 4,873
Total assets | $29,568 | $41,320
Debt | 24,727 | 31,227
Total equity | $ 2,749 | $ 3,470


Question: What will be the increase in the investment grade post adjusting for mitigation actions?
Answer: 67 percent
Income from Equity Investees
Marine Services: Income from equity investees within our Marine Services segment for the year ended December 31, 2019 decreased $14.1 million to $5.6 million from $19.7 million for the year ended year ended December 31, 2018. The decrease was driven by HMN, due to lower revenues on large turnkey projects underway than in the comparable period.
The equity investment in HMN has contributed $5.0 million and $12.7 million in income from equity investees for the years ended December 31, 2019 and 2018, respectively. Further contributing to the reduction in income were losses at SBSS from a loss contingency related to ongoing legal disputes and lower vessel utilization.
Life Sciences: Loss from equity investees within our Life Sciences segment for the year ended December 31, 2019 decreased $0.6 million to $3.4 million from $4.0 million for the year ended December 31, 2018. The decrease in losses were largely due to lower equity method losses recorded from our investment in MediBeacon due to the timing of clinical trials and revenue from a licensing agreement which did not occur in the comparable periods.
Table:
 |  | Years Ended December 31, | 
 | 2019 | 2018 | Increase / (Decrease)
Construction | $— | $ (0.2) | $ 0.2
Marine Services | 5.6 | 19.7 | (14.1)
Life Sciences | (3.4) | (4.0) | 0.6
Other | — | (0.1) | 0.1
Income from equity investees | $ 2.2 | $ 15.4 | $ (13.2)


Question: What was the percentage increase / (decrease) in the marine services from 2018 to 2019?
Answer: -71.57
Calculation: 5.6 / 19.7 - 1
Gross Profit
Gross profit in fiscal year 2018 increased to $382.3 million, or 17.7 percent of net sales from $300.8 million, or 16.7 percent of net sales for fiscal year 2017. Excluding the impact of the surcharge revenue, our gross margin in fiscal year 2018 was 21.3 percent compared to 19.3 percent in fiscal year 2017. The results reflect the impact of stronger demand and improved product mix coupled with operating cost improvements compared to fiscal year 2017.
Our surcharge mechanism is structured to recover increases in raw material costs, although in certain cases with a lag effect as discussed above. While the surcharge generally protects the absolute gross profit dollars, it does have a dilutive effect on gross margin as a percent of sales. The following represents a summary of the dilutive impact of the surcharge on gross margin. We present and discuss these financial measures because management believes removing the impact of surcharge provides a more consistent and meaningful basis for comparing results of operations from period to period. See the section “Non-GAAP Financial Measures” below for further discussion of these financial measures.
Table:
 | Fiscal Year | 
($ in millions) | 2018 | 2017
Net sales | $2,157.7 | $1,797.6
Less: surcharge revenue | 365.4 | 239.2
Net sales excluding surcharge revenue | $1,792.3 | $1,558.4
Gross profit | $382.3 | $300.8
Gross margin | 17.7% | 16.7%
Gross margin excluding surcharge revenue | 21.3% | 19.3%


Question: In which years was gross profit calculated?
Answer: 2018, 2017
We manufacture products in 107 facilities, with 15 of those facilities serving both of our business segments. The following table shows our manufacturing facilities by geographic region and our business segment reporting structure:
Other Property Information
We own the large majority of our manufacturing facilities. Some of these facilities are subject to secured or other financing arrangements. We lease the balance of our manufacturing facilities, which are generally smaller sites. Our manufacturing facilities are usually located in general purpose buildings that house our specialized machinery for the manufacture of one or more products. Because of the relatively low density of our air cellular, polyethylene foam and protective mailer products, we realize significant freight savings by locating our manufacturing facilities for these products near our customers and distributors.
We also occupy facilities containing sales, distribution, technical, warehouse or administrative functions at a number of
locations in the U.S. and in many foreign countries/regions. Some of these facilities are located on the manufacturing sites that we own and some of these are leased. Stand-alone facilities of these types are generally leased. Our global headquarters is located in an owned property in Charlotte, North Carolina. For a list of those countries and regions outside of the U.S. where we have operations, see "Global Operations" above.
We believe that our manufacturing, warehouse, office and other facilities are well maintained, suitable for their purposes and adequate for our needs.
Table:
Geographic Region | Number of Manufacturing Facilities | Food Care Manufacturing Facilities | Product Care Manufacturing Facilities
North America | 44 | 10 | 37
Europe, Middle East and Africa ("EMEA") | 29 | 11 | 24
South America | 6 | 6 | 1
Asia, Australia and New Zealand ("APAC") | 28 | 9 | 24
Total | 107 | 36 | 86


Question: Where are the manufacturing facilities usually located?
Answer: General purpose buildings
16. Quarterly Financial Data: (unaudited, amount in thousands, except per share data):
During the Company's second quarter of fiscal 2019 and second quarter of fiscal 2018, we recorded $2.3 million and $80.8 million, respectively, primarily related to the legal settlement of several antitrust claims against the Company. Also during the second quarter of fiscal 2018, the Tax Cuts and Jobs Act of 2017 was enacted. This resulted in an initial revaluation of our deferred tax liabilities during the third quarter which favorably impacted our results by $35.0 million. In the fourth quarter of fiscal 2018, we completed our analysis of the Act and recorded additional tax benefit of $8.0 million.
Table:
 | Fiscal Year 2019 |  |  | 
 | First Quarter | Second Quarter | Third Quarter | Fourth Quarter
Net sales | $340,583 | $356,040 | $383,993 | $280,572
Gross profit | 57,128 | 70,535 | 82,441 | 12,755
Net income (loss) attributable to Cal-Maine Foods, Inc. | 12,406 | 21,807 | 39,777 | (19,761)
Net income (loss) per share: |  |  |  | 
Basic | $0.26 | $0.45 | $0.82 | $(0.41)
Diluted | $0.26 | $0.45 | $0.82 | $(0.41)
 | Fiscal Year 2018 |  |  | 
 | First Quarter | Second Quarter | Third Quarter | Fourth Quarter
Net sales | $262,845 | $361,172 | $435,820 | $443,095
Gross profit | 17,336 | 82,396 | 120,098 | 141,216
Net income (loss) attributable to Cal-Maine Foods, Inc. | (15,993) | (26,136) | 96,294 | 71,767
Net income (loss) per share: |  |  |  | 
Basic | $(0.33) | $(0.54) | $1.99 | $1.48
Diluted | $(0.33) | $(0.54) | $1.99 | $1.48


Question: What was the impact of initial revaluation of our deferred tax liabilities during the third quarter?
Answer: favorably impacted our results by $35.0 million.
Revision of Prior Period Financial Statements
During the preparation of the financial statements for the three months ended September 30, 2019, the Company identified a misstatement in previously issued financial statements. The misstatement related to an error in the measurement of the cumulative effect of the accounting change related to the Company’s January 1, 2018 adoption of Accounting Standards Update No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” (“ASU 2014-09” or “Topic 606”) and impacted the January 1, 2018 opening accumulated deficit balance and the related opening balances of deferred commissions assets and accrued expenses. The Company determined that the error was not material to any previously issued financial statements. The Company has revised the December 31, 2018 consolidated balance sheet and the statements of changes in stockholders’ equity for all periods after January 1, 2018 to correct the misstatement as follows (in thousands):
Table:
 |  | December 31, 2018 | 
 | As Previously Reported | Adjustment | As Revised
Deferred commissions, current portion | $24,467 | $1,064 | $25,531
Total current assets | 573,035 | 1,064 | 574,099
Deferred commissions, net of current portion | 45,444 | 10,006 | 55,450
Total assets | 807,156 | 11,070 | 818,226
Accrued expenses | 68,331 | 1,734 | 70,065
Total current liabilities | 400,423 | 1,734 | 402,157
Accumulated deficit | (529,962) | 9,336 | (520,626)
Total stockholders’ equity | 55,907 | 9,336 | 65,243
Total liabilities and stockholders’ equity | 807,156 | 11,070 | 818,226


Question: What was the sum of deferred commissions, current portion and total current assets as previously reported?
Answer: 597502
Calculation: $24,467+573,035
ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
See Note 3 of our Notes to Consolidated Financial Statements for a discussion of 2019 and 2018 acquisitions.
Results of Operations
Revenues increased $9.0 million, or 61%, in 2019 compared to the prior year, with overall growth supported by the acquisition of Golden Ridge in November 2018, and MGI Grain in April 2019. Food product revenues increased 97% year over year, primarily due to the addition of new products for human consumption from Golden Ridge and MGI Grain. Animal feed product revenues increased 10%. Animal feed product growth was primarily due to increased buying from our existing SRB customer base.
Gross profit percentage decreased 23.8 percentage points to negative 3.6% in 2019 from 20.2% in the prior year. The decrease in gross profit was primarily attributable to operating losses at Golden Ridge due to an unfavorable contract to sell medium grain rice entered into by the seller of the mill and low levels of plant utilization in the latter half of the year while the mill was going through a planned upgrade cycle. With this project completed in early January 2020, we expect to see improved productivity and a positive contribution margin from Golden Ridge in 2020.
Selling, general and administrative (SG&A) expenses were $13.7 million in 2019, compared to $11.2 million in 2018, an increase of $2.5 million, or 22.4%. Outside services increased $1.1 million in 2019, compared to the prior year, primarily as a result of higher outside accounting, legal and professional fees associated with the acquisition of Golden Ridge and MGI Grain. Salary, wages and benefit related expenses increased $1.1 million in 2019, compared to the prior year, driven substantially by equity grants and outside labor costs. Bad debt expense increased $0.2 million and rent expense increased $0.1 million in 2019, compared to the prior year.
Other, net was $0.9 million for 2019 compared to $0.2 million in 2018. This increase was primarily related to the settlement of a net working capital dispute and other issues with the seller of Golden Ridge.
Table:
 | Years Ended December 31 |  | Change
 | 2019 | 2018 | %
 | (in thousands) |  | 
Revenues | $23,713 | $14,762 | 60.6
Cost of goods sold | 24,574 | 11,780 | (108.6)
Gross profit (loss) | (861) | 2,982 | 
Gross profit % | -3.6% | 20.2% | 
Selling, general and administrative expenses | 13,696 | 11,194 | (22.4)
Loss from operations | (14,557) | (8,212) | (77.3)
Other income (expense): | (96) | (12) | 
Interest expense | 50 | - | 
Other, net | 868 | 168 | 
Total other (expense) income | 822 | 156 | 
Loss before income taxes | $(13,735) | $(8,056) | 


Question: What are the respective cost of goods sold from operations in 2018 and 2019?
Answer: 11,780, 24,574
12. INCOME TAXES
On December 22, 2017, the Tax Cuts and Jobs Act (“Tax Act”) was signed into law in the U.S. The Tax Act significantly revised the future ongoing U.S. corporate income tax by, among other things, lowering the U.S. corporate income tax rate to 21% from 35%, providing full expensing for investments in new and used qualified property made after September 27, 2017, and implementing a territorial tax system. In connection with the transition to the new territorial tax system, a one-time transition tax on certain unrepatriated earnings of foreign subsidiaries was imposed for fiscal 2018 (the “Transitional Repatriation Tax”), for which an election can be made to pay over eight years. In addition, the Tax Act included two new U.S. tax base erosion provisions, the Global Intangible Low-Taxed Income (“GILTI”) provisions and the Base- Erosion and Anti-Abuse Tax (“BEAT”) provisions, which became effective for the Company during fiscal 2019. The GILTI provisions generally result in inclusion of income earned by foreign subsidiaries in the U.S. taxable income.
In response to the Tax Act, the SEC issued Staff Accounting Bulletin No. 118 which allowed companies to recognize provisional estimates in the preparation of a Company’s financial statements and permitted up to a one year measurement period after the enactment date of the Tax Act to finalize the recording of the related tax impacts.
During fiscal 2018, the Company recorded a net provisional tax expense of $77.3 million for the estimated effects of the Tax Act. This was comprised of a provisional Transitional Repatriation Tax expense of $116.4 million, offset by a provisional deferred tax benefit of $39.1 million from the remeasurement of U.S. deferred tax assets and liabilities. The Company completed its analysis of the impact of the Tax Act during the third quarter of fiscal 2019, and during the first three quarters of fiscal 2019 recorded a net discrete income tax benefit adjustment of $17.0 million to the prior year provisional estimates, comprised of a $1.9 million reduction to the provisional Transitional Repatriation Tax and a $15.1 million increase in U.S. deferred tax assets.
The GILTI provisions became effective for the Company in fiscal 2019 and resulted in a net $30.4 million tax expense, consisting of a $70.8 million expense related to the inclusion of unremitted foreign earnings offset by a $40.4 million tax benefit from additional foreign tax credits. The Company has made an accounting policy decision under U.S. GAAP to treat taxes due on future GILTI inclusions in U.S. taxable income as a current-period expense (the “period cost method”).
Income (loss) before income taxes consists of the following components (in thousands):
Table:
 |  | Fiscal Year | 
 | 2019 | 2018 | 2017
United States | $(297,975) | $(151,083) | $2,439
Foreign | 389,767 | 168,228 | 24,866
Total | $91,792 | $17,145 | $27,305


Question: What is the company's average total income before income taxes in 2018 and 2019?
Answer: 54468.5
Calculation: (17,145 + 91,792)/2
Net Revenues by Platform
The following tables detail our net revenues by platform (amounts in millions):
(1) Net revenues from “Mobile and ancillary” include revenues from mobile devices, as well as non-platform-specific game-related revenues, such as standalone sales of toys and accessories.
(2) Net revenues from “Other” primarily includes revenues from our Distribution business and the Overwatch League.
Console
The decrease in net revenues from console for 2019, as compared to 2018, was primarily due to:
lower revenues recognized from the Destiny franchise (reflecting our sale of the publishing rights for Destiny to Bungie in December 2018); and lower revenues recognized from Call of Duty franchise catalog titles.
The decrease was partially offset by revenues recognized from Crash Team Racing Nitro-Fueled, which was released in June 2019.
PC
The decrease in net revenues from PC for 2019, as compared to 2018, was primarily due to:
lower revenues recognized from the Destiny franchise; and lower revenues recognized from Hearthstone.
Mobile and Ancillary
The increase in net revenues from mobile and ancillary for 2019, as compared to 2018, was primarily due to revenues recognized from Call of Duty: Mobile, which was released in October 2019.
Table:
 |  | For the Years | Ended December 31, | 
 | 2019 | 2018 | Increase/ (decrease) | % Change
Net revenues by platform: |  |  |  | 
Console | $1,920 | $2,538 | $(618) | (24)%
PC | 1,718 | 2,180 | (462) | (21)
Mobile and ancillary (1) | 2,203 | 2,175 | 28 | 1
Other (2) | 648 | 607 | 41 | 7
Total consolidated net revenues | $6,489 | $7,500 | $(1,011) | (13)


Question: What is the total consolidated net revenues of Console PC in 2018?
Answer: 4718
Calculation: $2,538+2,180