hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
Capitalized software development costs consisted of the following (in thousands):
The Company capitalized software development costs of $8.8 million, $8.8 million and $6.2 million during the years ended December 31, 2019, 2018 and 2017, respectively.
Amortized expense for capitalized software development costs was $7.0 million, $5.9 million and $5.0 million during the years ended December 31, 2019, 2018 and 2017, respectively. Amortization of capitalized software development costs is classified within cost of revenue in the consolidated statements of operations and comprehensive loss. During the year ended December 31, 2019, the Company retired $4.6 million of fully amortized capitalized software development costs.
Table:
 |  |  | As of December 31, 2019 | 
 | Gross carrying amount | Amortization period | Accumulated amortization | Net carrying amount
Capitalized software development costs | $ 49,909 | 3 years | $ (35,622) | $ 14,287
Total capitalized software development costs | $ 49,909 |  | $ (35,622) | $ 14,287
 |  |  | As of December 31, 2018 | 
 | Gross carrying amount | Amortization period | Accumulated amortization | Net carrying amount
Capitalized software development costs | $ 45,677 | 3 years | $ (32,784) | $ 12,893
Total capitalized software development costs | $ 45,677 |  | $ (32,784) | $ 12,893


Question: What was the company capitalized software development costs during the years ended December 31, 2019?
Answer: $8.8 million
apple inc . | 2016 form 10-k | 20 company stock performance the following graph shows a comparison of cumulative total shareholder return , calculated on a dividend reinvested basis , for the company , the s&p 500 index , the s&p information technology index and the dow jones u.s . technology supersector index for the five years ended september 24 , 2016 . the graph assumes $ 100 was invested in each of the company 2019s common stock , the s&p 500 index , the s&p information technology index and the dow jones u.s . technology supersector index as of the market close on september 23 , 2011 . note that historic stock price performance is not necessarily indicative of future stock price performance . * $ 100 invested on 9/23/11 in stock or index , including reinvestment of dividends . data points are the last day of each fiscal year for the company 2019s common stock and september 30th for indexes . copyright a9 2016 s&p , a division of mcgraw hill financial . all rights reserved . copyright a9 2016 dow jones & co . all rights reserved . september september september september september september .

Table:
 | september2011 | september2012 | september2013 | september2014 | september2015 | september2016
apple inc . | $ 100 | $ 166 | $ 123 | $ 183 | $ 212 | $ 213
s&p 500 index | $ 100 | $ 130 | $ 155 | $ 186 | $ 185 | $ 213
s&p information technology index | $ 100 | $ 132 | $ 142 | $ 183 | $ 187 | $ 230
dow jones u.s . technology supersector index | $ 100 | $ 130 | $ 137 | $ 178 | $ 177 | $ 217
.

Question: what was the cumulative change in the s&p 500 between 2016 and 2011?
Answer: 113
Calculation: subtract(213, const_100)
ADVANCED ENERGY INDUSTRIES, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (continued) (in thousands, except per share amounts)
NOTE 9. ACCOUNTS AND OTHER RECEIVABLE
Accounts and other receivable are recorded at net realizable value. Components of accounts and other receivable, net of reserves, are as follows:
Amounts billed, net consist of amounts that have been invoiced to our customers in accordance with terms and conditions, and are shown net of an allowance for doubtful accounts. These receivables are all short term in nature and do not include any financing components.
Unbilled receivables consist of amounts where we have satisfied our contractual obligations related to inventory stocking contracts with customers. Such amounts are typically invoiced to the customer upon their consumption of the inventory managed under the stocking contracts. We anticipate that substantially all unbilled receivables will be invoiced and collected over the next twelve months. These contracts do not include any financing components.
Table:
 | December 31, 2019 | December 31, 2018
Amounts billed, net | $227,528 | $80,709
Unbilled receivables | 19,036 | 19,733
Total receivables, net | $246,564 | $100,442


Question: How were Accounts and other receivable recorded by the company?
Answer: at net realizable value.
Seasonality
The Company’s sales, income and cash flow from operations vary between quarters, and are generally lowest in the first quarter of the from operations vary between quarters, and are generally lowest in the first quarter of the year and highest in the fourth quarter. This is mainly a result of the seasonal purchase patterns of network operators.
Table:
Most recent three-year average seasonality |  |  |  | 
 | First quarter | Second quarter | Third quarter | Fourth quarter
Sequential change, sales | -25% | 11% | 4% | 17%
Share of annual sales | 22% | 24% | 25% | 29%


Question: What is the total share of annual sales for the second half of the year?
Answer: 54
Calculation: 25%+29%
Prepaid expenses and other current assets
Prepaid expenses and other current assets consisted of the following at December 31, 2019 and 2018 (in thousands):
(1) In November 2014 and February 2016, we entered into a term loan agreement and a convertible loan agreement, respectively, with Clean Energy Collective, LLC (“CEC”). Our term loan bears interest at 16% per annum, and our convertible loan bears interest at 10% per annum. In November 2018, we amended the terms of the loan agreements to (i) extend their maturity to June 2020, (ii) waive the conversion features on our convertible loan, and (iii) increase the frequency of interest payments, subject to certain conditions. In January 2019, CEC finalized certain restructuring arrangements, which resulted in a dilution of our ownership interest in CEC and the loss of our representation on the company’s board of managers. As a result of such restructuring, CEC no longer qualified to be accounted for under the equity method. As of December 31, 2019, the aggregate balance outstanding on the loans was $23.9 million and was presented within “Prepaid expenses and other current assets.” As of December 31, 2018, the aggregate balance outstanding on the loans was $22.8 million and was presented within “Notes receivable, affiliate.”
(2) See Note 9. “Derivative Financial Instruments” to our consolidated financial statements for discussion of our derivative instruments.
Table:
 | 2019 | 2018
Prepaid expenses | $137,927 | $90,981
Prepaid income taxes . | 47,811 | 59,319
Indirect tax receivables . | 29,908 | 26,327
Restricted cash | 13,697 | 19,671
Notes receivable (1) | 23,873 | 5,196
Derivative instruments (2) . | 1,199 | 2,364
Other current assets | 22,040 | 39,203
Prepaid expenses and other current assets | $276,455 | $243,061


Question: Why is CEC no longer qualified to be accounted under the equity method in 2019?
Answer: CEC finalized certain restructuring arrangements, which resulted in a dilution of our ownership interest in CEC and the loss of our representation on the company’s board of managers
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 does Net revenues from “Other” include?
Answer: revenues from our Distribution business and the Overwatch League.
Deferred Revenue
The opening balances of current and long-term deferred revenue were $30,694 and $1,352, respectively, as of January 1, 2018.
Expressed in US $000's except share and per share amounts
Table:
 | Years ended | 
 | December 31, 2019 | December 31, 2018
 | $ | $
Current portion | 56,691 | 39,180
Long term portion | 5,969 | 1,881
 | 62,660 | 41,061


Question: What was the January 1, 2018 opening balance of long-term deferred revenue?
Answer: $1,352
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: How much did Cost of wireless equipment decrease in 2019?
Answer: $544 million
F. INVENTORIES
Inventories, net consisted of the following at December 31, 2019 and 2018:
Inventory reserves for the years ended December 31, 2019 and 2018 were $103.6 million and $100.8 million, respectively.
Table:
 | 2019 | 2018
 | (in thousands) | 
Raw material | $118,595 | $89,365
Work-in-process | 32,695 | 31,014
Finished goods | 45,401 | 33,162
 | $196,691 | $153,541


Question: What was the inventory reserves in 2019?
Answer: $103.6 million
Disaggregation of Revenue
The following table disaggregates revenue generated within the United States (U.S.) from revenue generated from customers outside of the U.S. Revenue
for transaction tax compliance in the U.S. is further disaggregated based on the solutions or services purchased by customers. Total revenues consisted of the
following (in thousands):
Table:
 |  | For the Year Ended December 31, | 
 | 2019 | 2018 | 2017
Revenue (U.S.): |  |  | 
Subscription and returns |  |  | 
Tax determination | $203,584 | $147,847 | $114,575
Tax returns and compliance management | 127,815 | 91,239 | 74,454
Interest income on funds held for customers | 3,213 | 1,055 | -
Total subscription and returns | 334,612 | 240,141 | 189,029
Professional services | 24,399 | 15,126 | 12,476
Total revenue (U.S.) | 359,011 | 255,267 | 201,505
Total revenue (non U.S.) | 23,410 | 16,831 | 11,654
Total revenue | $382,421 | $272,098 | $213,159


Question: What is the value of the U.S. generated revenue as a percentage of the 2018 total revenue?
Answer: 93.81
Calculation: 255,267/272,098
Stock-Based Compensation
A summary of our stock-based compensation expense is as follows (in thousands):
(1) Amount for the year ended December 31, 2018 includes $4.1 million of accelerated stock-based compensation expense. In March 2018, as
a result of a suspension of the 2014 Purchase Plan due to our non-timely filing status, all unrecognized stock-based compensation expense
related to ESPP under the 2014 Purchase Plan was accelerated and recognized within the consolidated statement of operations.
As of December 31, 2019, we had $29.5 million of unrecognized stock-based compensation expense related to
unvested stock-based awards, including ESPP under our Amended 2014 Purchase Plan, which will be recognized
over a weighted-average period of 2.6 years.
Table:
 |  | Years Ended December 31, | 
 | 2019 | 2018 | 2017
Stock-based compensation by type of award: |  |  | 
Stock options | $648 | $1,353 | $2,705
Stock awards | 14,882 | 10,445 | 11,421
Employee stock purchase rights(1) | 999 | 5,240 | 3,077
Total | $16,529 | $17,038 | $17,203
Stock-based compensation by category of expense: |  |  | 
Cost of revenue | $1,500 | $1,602 | $1,362
Sales and marketing | 5,765 | 5,667 | 6,075
Research and development | 6,039 | 6,631 | 6,343
General and administrative | 3,225 | 3,138 | 3,423
Total | $16,529 | $17,038 | $17,203


Question: What is the total stock based compensation amount between 2017 to 2019?
Answer: 50770
Calculation: $16,529 + $17,038 + $17,203
Cubic Transportation Systems
Sales: CTS sales increased 16% to $670.7 million in 2018 compared to $578.6 million in 2017 and were higher in North America and the U.K., but were slightly lower in Australia. Sales in 2018 were higher in the U.S. primarily due to system development on the New York New Fare Payment System contract, which was awarded in October 2017. Increased work on both development and service contracts, including work on new change orders in London also increased CTS sales for the year. Sales were also positively impacted in the U.K. and Australia due to the impact of exchange rates. The average exchange rates between the prevailing currencies in our foreign operations and the U.S. dollar resulted in an increase in CTS sales of $12.4 million for 2018 compared to 2017, primarily due to the strengthening of the British Pound against the U.S. dollar.
Amortization of Purchased Intangibles: Amortization of purchased intangibles included in the CTS operating results totaled $5.2 million in 2018 and $5.7 million in 2017.
Operating Income: CTS operating income increased 52% in 2018 to $60.4 million compared to $39.8 million in 2017. For 2018, operating income was higher from increased volumes of system development work and services, including work on new projects and change orders, primarily in North America and the U.K. Operating income was also higher due to operational efficiencies and reductions in R&D spending. R&D expenses for CTS in 2017 included $6.4 million of system development expenses related to our anticipated contract with the New York Metropolitan Transit Authority that was awarded in early fiscal 2018; such expenses incurred in 2018 on this contract are classified as cost of sales. During the first quarter of fiscal year 2018 CTS implemented our new enterprise resource planning (ERP) system, and as a result began depreciating the cost of certain capitalized software into its operating results. This resulted in a decrease in operating income of $4.2 million between fiscal 2017 and fiscal 2018. The average exchange rates between the prevailing currency in our foreign operations and the U.S. dollar resulted in an increase in CTS operating income of $2.2 million for 2018 compared to 2017.
Adjusted EBITDA: CTS Adjusted EBITDA increased 50% to $73.3 million in 2018 compared to $48.8 million in 2017 primarily due to the same items described in the operating income section above. The increase in Adjusted EBITDA was primarily driven by the same factors that drove the increase in operating income described above excluding the increase in depreciation and decrease in amortization which are excluded from Adjusted EBITDA.
Table:
 | Fiscal 2018 | Fiscal 2017 | % Change
 |  | (in millions) | 
Sales | $ 670.7 | $  578.6 | 16 %
Operating income | 60.4 | 39.8 | 52
Adjusted EBITDA | 73.3 | 48.8 | 50


Question: What is the average operating income in 2017 and 2018?
Answer: 50.1
Calculation: (60.4+39.8)/2
EBITDA: TORM defines EBITDA as earnings before financial income and expenses, depreciation, impairment, amortization and taxes. The computation of EBITDA refers to financial income and expenses which the Company deems to be equivalent to “interest” for purposes of presenting EBITDA. Financial expenses consist of interest on borrowings, losses on foreign exchange transactions and bank charges. Financial income consists of interest income and gains on foreign exchange transactions.
EBITDA is used as a supplemental financial measure by Management and external users of financial statements, such as lenders, to assess TORM's operating performance as well as compliance with the financial covenants and restrictions contained in the Company's financing agreements. TORM believes that EBITDA assists Management and investors by increasing comparability of the Company's performance from period to period. This increased comparability is achieved by excluding the potentially disparate effects of interest, depreciation, impairment, amortization and taxes. These are items that could be affected by various changing financing methods and capital structure and which may significantly affect profit/(loss) between periods. Including EBITDA as a measure benefits investors in selecting between investment alternatives.
EBITDA excludes some, but not all, items that affect profit/(loss), and these measures may vary among other companies and not be directly comparable. The following table reconciles EBITDA to net profit/ (loss), the most directly comparable IFRS financial measure, for the periods presented:
Table:
USDm | 2019 | 2018 | 2017
Reconciliation to net profit/(loss) |  |  | 
Net profit/(loss) for the year | 166.0 | -34.8 | 2.4
Tax | 0.8 | 1.6 | 0.8
Financial expenses | 41.9 | 39.3 | 40.6
Financial income | -2.8 | -3.3 | -4.3
Depreciation | 110.1 | 114.5 | 114.5
Impairment (reversal)/losses on tangible assets | -114.0 | 3.2 | 3.6
EBITDA | 202.0 | 120.5 | 157.6


Question: For which years in the table is the EBITDA reconciled to net profit/(loss)?
Answer: 2019, 2018, 2017
the aes corporation notes to consolidated financial statements 2014 ( continued ) december 31 , 2011 , 2010 , and 2009 company for an aggregate proceeds of approximately $ 234 million . the company recognized a gain on disposal of $ 6 million , net of tax , during the year ended december 31 , 2010 . ras laffan was previously reported in the asia generation segment . 23 . acquisitions and dispositions acquisitions dpl 2014on november 28 , 2011 , aes completed its acquisition of 100% ( 100 % ) of the common stock of dpl for approximately $ 3.5 billion , pursuant to the terms and conditions of a definitive agreement ( the 201cmerger agreement 201d ) dated april 19 , 2011 . dpl serves over 500000 customers , primarily west central ohio , through its operating subsidiaries dp&l and dpl energy resources ( 201cdpler 201d ) . additionally , dpl operates over 3800 mw of power generation facilities and provides competitive retail energy services to residential , commercial , industrial and governmental customers . the acquisition strengthens the company 2019s u.s . utility operations by expanding in the midwest and pjm , a regional transmission organization serving several eastern states as part of the eastern interconnection . the company expects to benefit from the regional scale provided by indianapolis power & light company , its nearby integrated utility business in indiana . aes funded the aggregate purchase consideration through a combination of the following : 2022 the proceeds from a $ 1.05 billion term loan obtained in may 2011 ; 2022 the proceeds from a private offering of $ 1.0 billion notes in june 2011 ; 2022 temporary borrowings of $ 251 million under its revolving credit facility ; and 2022 the proceeds from private offerings of $ 450 million aggregate principal amount of 6.50% ( 6.50 % ) senior notes due 2016 and $ 800 million aggregate principal amount of 7.25% ( 7.25 % ) senior notes due 2021 ( collectively , the 201cnotes 201d ) in october 2011 by dolphin subsidiary ii , inc . ( 201cdolphin ii 201d ) , a wholly-owned special purpose indirect subsidiary of aes , which was merged into dpl upon the completion of acquisition . the fair value of the consideration paid for dpl was as follows ( in millions ) : .

Table:
agreed enterprise value | $ 4719
less : fair value of assumed long-term debt outstanding net | -1255 ( 1255 )
cash consideration paid to dpl 2019s common stockholders | 3464
add : cash paid for outstanding stock-based awards | 19
total cash consideration paid | $ 3483
.

Question: how much of the dpl purchase price was funded by existing credit facilities as opposed to new borrowing?
Answer: 7.2%
Calculation: multiply(3.5, const_1000), divide(251, #0)
Our revenues for 2019 include $1.9 million related to the acquired MGI business. Our net loss for 2019 includes $0.3 million of net loss from the acquired MGI business. The following table provides unaudited pro forma information for the periods presented as if the MGI acquisition had occurred January 1, 2018.
No adjustments have been made in the pro forma information for synergies that are resulting or planned from the MGI acquisition. The unaudited proforma information is not indicative of the results that may have been achieved had the companies been combined as of January 1, 2018, or of our future operating results.
Table:
 | Year Ended December 31 | 
 | 2019 | 2018
Revenues (in thousands) | $ 224,913 | $ 17,542
Loss from continuing operations (in thousands) | $ (13,432) | $ ( 7,792)
Loss per share - continuing operations | $           (0.42) | $          ( 0.35)
Weighted average number of common shares outstanding - basic and diluted | 32,359,316 | 22,099,149


Question: Which year has the highest Weighted average number of common shares outstanding - basic and diluted?
Answer: 2019
Calculation: 32,359,316> 22,099,149