hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
We continue to experience challenging trends in both the high-end smartphone market and in the broadband market. However, with leading mobile and fixed networks, improving customer experience, three strong brands and further enhancements to BT Plus, with 5G coming imminently, we are well placed for the future.
Adjusteda revenue growth of 3% for the year was driven by the continued increase in handset costs for customers, growth in the SIMonly base across all brands and the impact of price increases, partially offset by solus voice price reductions.
Adjusteda EBITDA grew 7% for the year as the revenue growth was partially offset by increased trading costs.
Capital expenditure growth of 8% was driven by increased network spend as preparations were made for the EE 5G launch in 2019. Normalised free cash flowb was £1,323m, down 5% on last year as the increase in EBITDA was offset by the settlement at the start of the year of the Phones4U dispute relating to the retail trading agreement, and increased capital expenditure.
Mobile churnc was stable at 1.2% for the year, whilst fixed churnc was up from 1.3% to 1.4% reflecting the impact of price increases in the year.
a Adjusted measures exclude specific items, as explained in the Additional Information on page 185. b Free cash flow after net interest paid, before pension deficit payments (including the cash tax benefit of pension deficit payments) and specific items.
Table:
Consumer |  |  |  | 
Adjusteda revenue £10,695m |  | Adjusteda operating profit £1,510m |  | 
 | 2019 (IFRS 15) | 2018 (IAS 18) | Change | 
Year to 31 March | £m | £m | £m | %
Adjusteda revenue | 10,695 | 10,360 | 335 | 3
Adjusteda operating costs | 8,161 | 7,984 | 177 | 2
Adjusteda EBITDA | 2,534 | 2,376 | 158 | 7
Depreciation & amortisation | 1,024 | 992 | 32 | 3
Adjusted a operating profit | 1,510 | 1,384 | 126 | 9
Capital expenditure | 994 | 919 | 75 | 8
Normalised free cash flowb | 1,323 | 1,389 | (66) | (5


Question: What was the reason for capital expenditure growth?
Answer: driven by increased network spend as preparations were made for the EE 5G launch in 2019.
The 2019 operating expenses increased 3.9% compared to the prior year, mainly due to salary dynamic, increased spending in certain R&D programs and higher share-based compensation cost, partially offset by favorable currency effects, net of hedging.
The 2018 operating expenses increased 9.5% compared to the prior year, mainly due to unfavorable currency effects, net of hedging, salary dynamic, increased R&D activities and higher costs of the share-based compensation plans.
The R&D expenses were net of research tax credits in France and Italy, which amounted to $126 million in 2019, $138 million in 2018 and $124 million in 2017.
Table:
 | Year Ended December 31, | Year Ended December 31, | Year Ended December 31, | Variation | Variation
 | 2019 | 2018 | 2017 | 2019 vs 2018 | 2018 vs 2017
 | (In millions) | (In millions) | (In millions) |  | 
Selling, general and administrative expenses | $(1,093) | $(1,095) | $(981) | 0.3% | (11.7)%
Research and development expenses | (1,498) | (1,398) | (1,296) | (7.1) | (7.9)
Total operating expenses | $(2,591) | $(2,493) | $(2,277) | (3.9)% | (9.5)%
As percentage of net revenues | (27.1)% | (25.8)% | (27.3)% | -130 bps | +150 bps


Question: What is the increase/ (decrease) in total operating expenses as percentage of net revenues from 2017 to 2019?
Answer: -0.2
Calculation: 27.1-27.3
1. Description of the business and summary of significant accounting policies: (Continued)
Shares of restricted stock are included in the computation of basic EPS as they vest and are included in diluted EPS, to the extent they are dilutive, determined using the treasury stock method.
The following details the determination of the diluted weighted average shares:
Table:
 | Year Ended December 31, 2019 | Year Ended December 31, 2018 | Year Ended December 31, 2017
Weighted average common shares—basic | 45,542,315 | 45,280,161 | 44,855,263
Dilutive effect of stock options | 32,222 | 33,134 | 31,534
Dilutive effect of restricted stock | 505,858 | 467,659 | 297,406
 | 46,080,395 | 45,780,954 | 45,184,203


Question: What is the average dilutive effect of stock options in 2018 and 2019?
Answer: 32678
Calculation: (33,134 + 32,222)/2
(a) GitHub has been included in our consolidated results of operations starting on the October 25, 2018 acquisition date.
(b) Includes a $2.6 billion net income tax benefit related to intangible property transfers and a $157 million net charge related to the enactment of the Tax Cuts and Jobs Act (“TCJA”), which together increased net income and diluted earnings per share (“EPS”) by $2.4 billion and $0.31, respectively. Refer to Note 12 – Income Taxes of the Notes to Financial Statements for further discussion.
(c) Includes a $13.7 billion net charge related to the enactment of the TCJA, which decreased net income and diluted EPS by $13.7 billion and $1.75, respectively. Refer to Note 12 – Income Taxes of the Notes to Financial Statements for further discussion.
(d) Reflects the impact of the adoption of new accounting standards in fiscal year 2018 related to revenue recognition and leases.
(e) LinkedIn has been included in our consolidated results of operations starting on the December 8, 2016 acquisition date.
(f) Includes $306 million of employee severance expenses primarily related to our sales and marketing restructuring plan, which decreased operating income, net income, and diluted EPS by $306 million, $243 million, and $0.04, respectively.
(g) Includes $630 million of asset impairment charges related to our Phone business and $480 million of restructuring charges associated with our Phone business restructuring plans, which together decreased operating income, net income, and diluted EPS by $1.1 billion, $895 million, and $0.11, respectively.
(h) Includes $7.5 billion of goodwill and asset impairment charges related to our Phone business and $2.5 billion of integration and restructuring expenses, primarily associated with our Phone business restructuring plans, which together decreased operating income, net income, and diluted EPS by $10.0 billion, $9.5 billion, and $1.15, respectively.
Table:
(In millions, except per share amounts) |  |  |  |  | 
Year Ended June 30, | 2019 (a) | 2018 | 2017 (d)(e) | 2016 (d) | 2015
Revenue | $ 125,843 | $ 110,360 | $ 96,571 | $ 91,154 | $ 93,580
Gross margin | 82,933 | 72,007 | 62,310 | 58,374 | 60,542
Operating income | 42,959 | 35,058 | 29,025 (f) | 26,078 (g) | 18,161(h)
Net income | 39,240(b) | 16,571(c) | 25,489 (f) | 20,539 (g) | 12,193(h)
Diluted earnings per share | 5.06 (b) | 2.13(c) | 3.25 (f) | 2.56 (g) | 1.48(h)
Cash dividends declared per share | 1.84 | 1.68 | 1.56 | 1.44 | 1.24
Cash, cash equivalents, and short-term |  |  |  |  | 
investments | 133,819 | 133,768 | 132,981 | 113,240 | 96,526
Total assets | 286,556 | 258,848 | 250,312 | 202,897 | 174,303
Long-term obligations | 114,806 | 117,642 | 106,856 | 66,705 | 44,574
Stockholders’ equity | 102,330 | 82,718 | 87,711 | 83,090 | 80,083


Question: What was the total liabilities in 2018?
Answer: 176130
Calculation: 258,848-82,718
Taxes
At €298 million (2017/18: €216 million), recognised income tax expenses are €81 million higher than the previous year’s figures.
During the reporting period, the group tax rate for the continuing segment is 42.0% (2017/18: 37.6%). The group tax rate represents the relationship between recognised income tax expenses and earnings before taxes. The increase in the ratio in the current financial year is mainly attributable to impairments on deferred taxes on loss carry-forwards in Germany. The comparatively low ratio in the previous year includes positive one-off tax effects such as tax rate changes abroad and the reduction for risk provisions.
For more information about income taxes, see the notes to the consolidated financial statements in no. 12 – income taxes page 206 .
1 Adjustment of previous year according to explanation in notes.
Table:
€ million | 2017/2018 | 2018/2019
Actual taxes | 173 | 215
thereof Germany | (14) | (9)
thereof international | (159) | (206)
thereof tax expenses/income for the current period | (194) | (221)
thereof tax expenses/income of previous periods | (−21) | (−6)
Deferred taxes | 43 | 83
thereof Germany | (39) | (104)
thereof international | (4) | (−21)
 | 216 | 298


Question: What was the change in total taxes in  2018/2019 from 2017/2018?
Answer: 82
Calculation: 298-216
4. Inventories
Inventories consisted of the following (in thousands):
We grow and maintain flocks of layers (mature female chickens), pullets (female chickens, under 18 weeks of age), and breeders (male and female chickens used to produce fertile eggs to hatch for egg production flocks). Our total flock at June 1, 2019, consisted of approximately 9.4 million pullets and breeders and 36.2 million layers.
Table:
 | June 1, 2019 | June 2, 2018
Flocks, net of accumulated amortization | $105,536 | $96,594
Eggs | 14,318 | 17,313
Feed and supplies | 52,383 | 54,737
 | $172,237 | $168,644


Question: What is the number of eggs in 2019?
Answer: 14,318
Note 3 – Net Income per Share
Reconciliation of net income per common share:
Table:
 |  | Fiscal Year Ended | 
 | December 27, 2019  | December 28, 2018  | December 29, 2017
Numerator: |  |  | 
Net income | $24,193 | $20,402 | $14,366
Add effect of dilutive securities |  |  | 
Interest on convertible notes, net of tax | 207 | 362 | 536
Adjusted net income | $24,400 | $20,764 | $14,902
Denominator: |  |  | 
Weighted average basic common shares outstanding | 29,532,342 | 28,703,265 | 26,118,482
Dilutive effect of stock options and unvested common shares | 211,050 | 270,520 | 68,670
Dilutive effect of convertible notes | 329,946 | 705,134 | 1,237,374
Weighted average diluted common shares outstanding | 30,073,338 | 29,678,919 | 27,424,526


Question: Which year has the highest adjusted net income?
Answer: 2019
Calculation: $24,400>$20,764>$14,902
Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
ADTRAN’s common stock is traded on the NASDAQ Global Select Market under the symbol ADTN. As of February 19, 2020, ADTRAN had 163 stockholders of record and approximately 6,972 beneficial owners of shares held in street name. The following table shows the high and low closing prices per share for our common stock as reported by NASDAQ for the periods indicated.
Table:
COMMON STOCK PRICES |  |  |  | 
2019 | First Quarter | Second Quarter | Third Quarter | Fourth Quarter
High | $15.40 | $17.81 | $16.40 | $11.59
Low | $10.49 | $13.76 | $ 9.92 | $ 8.09


Question: What was the difference between the high and low closing prices per share for common stock in the second quarter of 2019?
Answer: 4.05
Calculation: $17.81-$13.76
Postretirement Benefit Plans
The Company also provides certain postretirement health care and life insurance benefits to qualifying domestic retirees and their eligible dependents. The health care plan for shore-based employees and their dependents and seagoing licensed deck officers (“Deck Officers”) and their dependents is contributory at retirement, while the life insurance plan for all employees is noncontributory.
In general, postretirement medical coverage is provided to shore-based employees hired prior to January 1, 2005 and all Deck Officers who retire and have met minimum age and service requirements under a formula related to total years of service. The Company no longer provides prescription drug coverage to its retirees or their beneficiaries once they reach age 65.
The Company does not currently fund these benefit arrangements and has the right to amend or terminate the health care and life insurance benefits at any time.
Information with respect to the domestic pension and postretirement benefit plans for which the Company uses a December 31 measurement date, follow:
Table:
 | 2019 | 2018 | 2019 | 2018
At December 31, |  |  | Change in benefit obligation: | Change in benefit obligation:
Benefit obligation at beginning of year | $44,015 | $48,500 | $3,401 | $4,548
Cost of benefits earned (service cost) | — | — | 105 | 119
Interest cost on benefit obligation | 1,802 | 1,673 | 140 | 142
Actuarial losses/(gains) | 3,805 | (3,456) | 84 | (1,206)
Benefits paid | (2,686) | (2,702) | (158) | (202)
Benefit obligation at year end | 46,936 | 44,015 | 3,572 | 3,401
Change in plan assets: |  |  |  | 
Fair value of plan assets at beginning of year | 31,929 | 35,591 | — | —
Actual return on plan assets | 6,790 | (1,882) | — | —
Employer contributions | 721 | 922 | 158 | 202
Benefits paid | (2,686) | (2,702) | (158) | (202)
Fair value of plan assets at year end | 36,754 | 31,929 | — | —
Unfunded status at December 31 | $(10,182) | $(12,086) | $(3,572) | $(3,401)


Question: What is the change in Interest cost on benefit obligation for pension benefits from December 31, 2018 and 2019?
Answer: 129
Calculation: 1,802-1,673
Item 6. Selected Financial Data
The following tables set forth our selected financial data for the periods and at the dates indicated. The selected financial data from the consolidated statements of operations and consolidated statements of cash flows for the years ended December 31, 2019, 2018, and 2017 and the selected financial data from the consolidated balance sheets as of December 31, 2019 and 2018 have been derived from the audited consolidated financial statements included in this Annual Report on Form 10-K. The selected financial data from the consolidated statements of operations and consolidated statements of cash flows for the years ended December 31, 2016 and 2015 and the selected financial data from the consolidated balance sheets as of December 31, 2017, 2016, and 2015 have been derived from audited consolidated financial statements not included in this Annual Report on Form 10-K. The information presented below should also be read in conjunction with our consolidated financial statements and the related notes thereto and Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations.”
Table:
 |  |  | Years Ended December 31, |  | 
 | 2019 | 2018 | 2017 | 2016 | 2015
 |  |  | (In thousands, except per share amounts) |  | 
Net sales . | $3,063,117 | $2,244,044 | $2,941,324 | $2,904,563 | $4,112,650
Gross profit | 549,212 | 392,177 | 548,947 | 638,418 | 1,132,762
Operating (loss) income . | (161,785) | 40,113 | 177,851 | (568,151) | 730,159
Net (loss) income | (114,933) | 144,326 | (165,615) | (416,112) | 593,406
Net (loss) income per share: |  |  |  |  | 
Basic . | $(1.09) | $1.38 | $(1.59) | $(4.05) | $5.88
Diluted . | $(1.09) | $1.36 | $(1.59) | $(4.05) | $5.83
Cash dividends declared per common share. | $— | $— | $— | $— | $—
Net cash provided by (used in) operating |  |  |  |  | 
activities | $174,201 | $(326,809) | $1,340,677 | $206,753 | $(325,209)
Net cash (used in) provided by investing |  |  |  |  | 
activities | (362,298) | (682,714) | (626,802) | 144,520 | (156,177)
Net cash provided by (used in) financing |  |  |  |  | 
activities | 74,943 | 255,228 | 192,045 | (136,393) | 101,207
 |  |  | December 31, |  | 
 | 2019 | 2018 | 2017 | 2016 | 2015
 |  |  | (In thousands) |  | 
Cash and cash equivalents . | $1,352,741 | $1,403,562 | $2,268,534 | $1,347,155 | $1,126,826
Marketable securities . | 811,506 | 1,143,704 | 720,379 | 607,991 | 703,454
Total assets . | 7,515,689 | 7,121,362 | 6,864,501 | 6,824,368 | 7,360,392
Total long-term debt | 471,697 | 466,791 | 393,540 | 188,388 | 289,415
Total liabilities | 2,418,922 | 1,908,959 | 1,765,804 | 1,606,019 | 1,741,996
Total stockholders’ equity . | 5,096,767 | 5,212,403 | 5,098,697 | 5,218,349 | 5,618,396


Question: What is the difference between Net (loss) income in 2018 and 2019?
Answer: 259259
Calculation: 144,326 - (-114,933)
state street corporation | 52 shareholder return performance presentation the graph presented below compares the cumulative total shareholder return on state street's common stock to the cumulative total return of the s&p 500 index , the s&p financial index and the kbw bank index over a five-year period . the cumulative total shareholder return assumes the investment of $ 100 in state street common stock and in each index on december 31 , 2012 . it also assumes reinvestment of common stock dividends . the s&p financial index is a publicly available , capitalization-weighted index , comprised of 67 of the standard & poor 2019s 500 companies , representing 27 diversified financial services companies , 23 insurance companies , and 17 banking companies . the kbw bank index is a modified cap-weighted index consisting of 24 exchange-listed stocks , representing national money center banks and leading regional institutions. .

Table:
 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017
state street corporation | $ 100 | $ 159 | $ 172 | $ 148 | $ 178 | $ 227
s&p 500 index | 100 | 132 | 151 | 153 | 171 | 208
s&p financial index | 100 | 136 | 156 | 154 | 189 | 230
kbw bank index | 100 | 138 | 151 | 151 | 195 | 231
.

Question: what is the roi of an investment is state street corporation from 2012 to 2015?
Answer: 48%
Calculation: subtract(148, 100), divide(#0, 100)
A reconciliation of the change in gross unrecognized tax benefits, excluding interest and penalties,
is as follows (in thousands):
As of September 28, 2019, the total amount of gross unrecognized tax benefits including gross interest and penalties was $63.9 million, of which $43.9 million, if recognized, would affect our effective tax rate. We reassessed the computation of the transition tax liability based upon the issuance of new guidance and the availability of additional substantiation in fiscal 2019. The adjustments resulted in a tax benefit of approximately $6.0 million, which was recorded in fiscal 2019. Our total gross unrecognized tax benefit, net of certain deferred tax assets is classified as a long-term taxes payable in the consolidated balance sheets. We include interest and penalties related to unrecognized tax benefits within the provision for income taxes. As of September 28, 2019, the total amount of gross interest and penalties accrued was $5.8 million and it is classified as long-term taxes payable in the consolidated balance sheets. As of September 29, 2018, we had accrued $4.4 million for the gross interest and penalties and it is classified as Other long-term liabilities in the consolidated balance sheets.
Table:
 |  | Fiscal year-end | 
 | 2019 | 2018 | 2017
Balance as of the beginning of the year | $65,882 | $47,566 | $20,442
Increase related to acquisitions | — | — | 25,151
Tax positions related to current year: |  |  | 
Additions | 605 | 19,033 | 1,326
Reductions | — | — | —
Tax positions related to prior year: |  |  | 
Additions | 448 | 117 | 4,951
Reductions | (6,071) | — | (65)
Lapses in statutes of limitations | (639) | (700) | (610)
Decrease in unrecognized tax benefits based on audit results | — | — | (5,217)
Foreign currency revaluation adjustment | (2,114) | (134) | 1,588
Balance as of end of year | $58,111 | $65,882 | $47,566


Question: What was the Balance as of end of year in 2019?
Answer: $58,111
Note 7 – Equipment, Leasehold Improvements and Software
Equipment, leasehold improvements and software as of December 27, 2019 and December 28, 2018 consisted of the following:
Construction-in-process at December 27, 2019 related primarily to the implementation of the Company’s Enterprise Resource Planning (“ERP”) system and at December 28, 2018 related primarily to the implementation of the Company’s ERP system and the buildout of the Company’s headquarters in Ridgefield, CT. The buildout of the Company’s headquarters was completed during fiscal 2019. The rollout of its ERP system will continue through fiscal 2020. The net book value of equipment financed under finance leases at December 27, 2019 and December 28, 2018 was $3,905 and $388, respectively. No interest expense was capitalized during the fiscal years ended December 27, 2019, December 28, 2018 and December 29, 2017.
Table:
 | Useful Lives | December 27, 2019  | December 28, 2018
Land | Indefinite | $1,170 | $1,170
Buildings | 20 years | 1,360 | 1,292
Machinery and equipment | 5-10 years | 21,718 | 17,837
Computers, data processing and other equipment | 3-7 years | 12,686 | 11,244
Software | 3-7 years | 29,305 | 22,779
Leasehold improvements | 1-40 years | 70,903 | 60,565
Furniture and fixtures | 7 years | 3,309 | 3,268
Vehicles | 5-7 years | 6,410 | 2,769
Other | 7 years | 95 | 95
Construction-in-process    |  | 9,200 | 15,757
 |  | 156,156 | 136,776
Less: accumulated depreciation and amortization    |  | (63,310) | (51,500)
Equipment, leasehold improvements and software, net |  | $92,846 | $85,276


Question: What is the useful lives of Computers, data processing and other equipment?
Answer: 3-7 years
Foreign Currency Risk
The Group is exposed to translation and transaction foreign exchange risk. Several other currencies in addition to the reporting currency of US dollar are used, including sterling and the euro. The Group experiences currency exchange differences arising upon retranslation of monetary items (primarily short-term inter-Company balances and long-term borrowings), which are recognised as an expense in the period the difference occurs. The Group endeavours to match cash inflows and outflows in the various currencies; the Group typically invoices its customers in their local currency and pays its local expenses in local currency, as a means to mitigate this risk.
The Group is also exposed to exchange differences arising from the translation of its subsidiaries’ Financial Statements into the Group’s reporting currency of US dollar, with the corresponding exchange differences taken directly to equity.
The following table illustrates the movement that ten per cent in the value of sterling or the euro against the US dollar would have had on the Group’s profit or loss for the period and on the Group’s equity as at the end of the period.
Any foreign exchange variance would be recognised as unrealised foreign exchange in the Consolidated Statement of Profit or Loss and have no impact on cash flows.
Table:
 | Year-ended 31 March 2019 | Year-ended 31 March 2018
 | $M | $M
10% movement in sterling to US dollar value |  | 
Profit or loss | 1.7 | 5.1
Equity | 33.8 | 37.4
10% movement in euro to US dollar value |  | 
Profit or loss | 1.5 | 7.5
Equity | (9.8) | (10.8)


Question: Where does the currency exchange differences that the Group experiences arise from?
Answer: arising upon retranslation of monetary items (primarily short-term inter-Company balances and long-term borrowings), which are recognised as an expense in the period the difference occurs.
CREDIT RISK
In many instances, trade receivables are written off directly to bad debt expense if the account has not been collected after a predetermined period of time.
The following table provides further details on trade receivables, net of allowance for doubtful accounts.
Table:
AT DECEMBER 31 | 2019 | 2018
Trade receivables not past due | 2,082 | 2,091
Trade receivables past due, net of allowance for doubtful accounts |  | 
Under 60 days | 541 | 508
60 to 120 days | 232 | 304
Over 120 days | 64 | 72
Trade receivables, net of allowance for doubtful accounts | 2,919 | 2,975


Question: What is the total Trade receivables past due, net of allowance for doubtful accounts for 2019?
Answer: 837
Calculation: 541+232+64