hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
Operating profit
Notes
1. Before exceptional items, acquisition related costs, acquired intangible asset amortisation and share-based payment amounting to $4.3 million in total (2018 $19.6 million).
2. Adjusted operating profit as a percentage of revenue in the period.
Adjusted operating profit increased by $15.8 million or 20.5 per cent to $92.9 million in 2019, compared with $77.1 million in 2018. Adjusted operating margin increased by 2.2 per cent to 18.4 per cent, from 16.2 per cent in 2018.
Reported operating profit was up by $31.1 million or 54.1 per cent to $88.6 million (2018 $57.5 million). Total adjusting items were lower in 2019 at $4.3 million, compared to $19.6 million in 2018, mainly due to exceptional items totalling $13.1 million charged last year (see below).
Table:
$ million | 2019 | Adjusted operating margin 1, 2 % | 2018 | Adjusted operating margin 1, 2 %
Networks & Security | 73.9 | 23.1 | 56.4 | 19.8
Lifecycle Service Assurance | 18.1 | 16.3 | 17.4 | 15.4
Connected Devices | 9.5 | 13.1 | 10.5 | 13.3
Corporate | (8.6) |  | (7.2) | 
Adjusted operating profit1 | 92.9 | 18.4 | 77.1 | 16.2
Exceptional items | 0.5 |  | (13.1) | 
Acquisition related costs | (0.1) |  | – | 
Acquired intangible asset amortisation | (1.2) |  | (3.7) | 
Share-based payment | (3.5) |  | (2.8) | 
Reported operating profit | 88.6 |  | 57.5 | 


Question: What was the percentage change in operating profit under Networks & Security?
Answer: 31.03
Calculation: (73.9-56.4)/56.4
Sales and Marketing Expense
Sales and marketing expense increased by $18.1 million in 2019 compared to 2018. The increase was primarily due to a $15.5 million increase in employee-related costs, which includes stock-based compensation, associated with our increased headcount from 286 employees as of December 31, 2018 to 345 employees as of December 31, 2019. The remaining increase was principally the result of a $1.2 million increase in trade show and advertising costs and a $1.0 million increase attributed to office related expenses to support the sales team.
Table:
 | Year Ended December 31, |  | Change | 
 | 2019 | 2018 | $ | %
 |  | (dollars in thousands) |  | 
Sales and marketing | $ 87,731 | $ 69,608 | $ 18,123 | 26.0%
% of revenue | 44% | 47% |  | 


Question: In which year was Sales and marketing expenses less than 90,000 thousands?
Answer: 2019, 2018
Calculation: locate and analyze Sales and marketing in row 4
Warranty Obligations
We offer warranties on certain products and record a liability for the estimated future costs associated with warranty claims at the time revenue is recognized. The warranty liability is based upon historical experience and our estimate of the level of future costs. While we engage in product quality programs and processes, our warranty obligation is affected by product failure rates, material usage and service delivery costs incurred in correcting a product failure.
We continuously monitor product returns for warranty and maintain a reserve for the related expenses based upon our historical experience and any specifically identified field failures. As we sell new products to our customers, we must exercise considerable judgment in estimating the expected failure rates. This estimating process is based on historical experience of similar products, as well as various other assumptions that we believe to be reasonable under the circumstances.
We provide for the estimated cost of product warranties at the time revenue is recognized. Warranty costs are reflected in the Consolidated Statement of Income as a Cost of revenues. A reconciliation of the changes in our warranty liability is as follows (in thousands):
Table:
 |  | Fiscal Year Ended | 
 | December 28,
2019 | December 29, 2018 | December 30, 2017
Balance at beginning of year | $2,102 | $ 3,662 | $2,972
Accruals | 3,881 | 3,181 | 8,115
Settlements | (4,041) | (4,741) | (7,425)
Balance at end of year | $1,942 | $2,102 | $3,662


Question: What is the basis of warranty liability?
Answer: based upon historical experience and our estimate of the level of future costs.
13 . pension and other postretirement benefit plans the company has defined benefit pension plans covering eligible employees in the united states and in certain of its international subsidiaries . as a result of plan design changes approved in 2011 , beginning on january 1 , 2013 , active participants in merck 2019s primary u.s . defined benefit pension plans are accruing pension benefits using new cash balance formulas based on age , service , pay and interest . however , during a transition period from january 1 , 2013 through december 31 , 2019 , participants will earn the greater of the benefit as calculated under the employee 2019s legacy final average pay formula or their new cash balance formula . for all years of service after december 31 , 2019 , participants will earn future benefits under only the cash balance formula . in addition , the company provides medical benefits , principally to its eligible u.s . retirees and their dependents , through its other postretirement benefit plans . the company uses december 31 as the year-end measurement date for all of its pension plans and other postretirement benefit plans . net periodic benefit cost the net periodic benefit cost for pension and other postretirement benefit plans consisted of the following components: .

Table:
years ended december 31 | pension benefits 2013 | pension benefits 2012 | pension benefits 2011 | pension benefits 2013 | pension benefits 2012 | 2011
service cost | $ 682 | $ 555 | $ 619 | $ 102 | $ 82 | $ 110
interest cost | 665 | 661 | 718 | 107 | 121 | 141
expected return on plan assets | -1097 ( 1097 ) | -970 ( 970 ) | -972 ( 972 ) | -126 ( 126 ) | -136 ( 136 ) | -142 ( 142 )
net amortization | 336 | 185 | 201 | -50 ( 50 ) | -35 ( 35 ) | -17 ( 17 )
termination benefits | 58 | 27 | 59 | 50 | 18 | 29
curtailments | -23 ( 23 ) | -10 ( 10 ) | -86 ( 86 ) | -11 ( 11 ) | -7 ( 7 ) | 1
settlements | 23 | 18 | 4 | 2014 | 2014 | 2014
net periodic benefit cost | $ 644 | $ 466 | $ 543 | $ 72 | $ 43 | $ 122
the increase in net periodic benefit cost for pension and other postretirement benefit plans in 2013 as compared with 2012 is largely attributable to a change in the discount rate .
the net periodic benefit cost attributable to u.s .
pension plans included in the above table was $ 348 million in 2013 , $ 268 million in 2012 and $ 406 million in in connection with restructuring actions ( see note 3 ) , termination charges were recorded in 2013 , 2012 and 2011 on pension and other postretirement benefit plans related to expanded eligibility for certain employees exiting merck .
also , in connection with these restructuring activities , curtailments were recorded in 2013 , 2012 and 2011 on pension and other postretirement benefit plans .
in addition , settlements were recorded in 2013 , 2012 and 2011 on certain domestic and international pension plans .
table of contents .

Question: considering the years 2013 and 2012 , what is the variation observed in the expected return on plan assets , in millions?
Answer: 127
Calculation: subtract(1097, 970)
Disaggregated Revenue
The Company has disaggregated revenue from contracts with customers into categories which depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. Consequently, the disaggregation below is based on contract type.
Since the terms within these contract types are generally standard in nature, the Company does not believe that further disaggregation would result in increased insight into the economic factors impacting revenue and cash flows.
The following table shows the Company's shipping revenues disaggregated by nature of the charter arrangement for the years ended December 31, 2019 and 2018:
(1) Voyage charter revenues include approximately $10,152 and $7,600 of revenue related to short-term time charter contracts for the years ended December 31, 2019 and 2018, respectively.
Table:
 | Years Ended December 31, | 
 | 2019 | 2018
Time and bareboat charter revenues | $263,683 | $213,923
Voyage charter revenues(1) | 33,275 | 83,542
Contracts of affreightment revenues | 58,589 | 68,698
Total shipping revenues | $355,547 | $366,163


Question: What is the average Time and bareboat charter revenues for Years Ended December 31, 2018 to 2019?
Answer: 238803
Calculation: (263,683+213,923) / 2
Note 10. Prepaid Expenses
Prepaid expenses consisted of the following (in thousands):
Table:
 | December 31, | 
 | 2019 | 2018
Prepaid maintenance | $6,218 | $5,888
Prepaid insurance | 5,321 | 4,500
Prepaid software | 4,236 | 3,499
Prepaid rent | 421 | 3,471
Prepaid other | 4,672 | 6,396
 | $20,868 | $23,754


Question: What are the items considered under prepaid expenses in the table?
Answer: Prepaid maintenance, Prepaid insurance, Prepaid software, Prepaid rent, Prepaid other
The fair value of the assets held by the U.K. pension plan by asset category are as follows:
The expected long-term rates of return on plan assets are equal to the yields to maturity of appropriate indices for government and corporate bonds and by adding a premium to the government bond return for equities. The expected rate of return on cash is the Bank of England base rate in force at the effective date.
Level 1 investments represent mutual funds for which a quoted market price is available on an active market. These investments primarily hold stocks or bonds, or a combination of stocks and bonds.
Table:
 |  |  |  | Fair value as of |  |  |  | 
 | September 30, 2019 |  |  |  | September 30, 2018 |  |  | 
 | Fair Value Measurements Using Inputs Considered as |  |  |  | Fair Value Measurements Using Inputs Considered as |  |  | 
Asset category | Total | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3
Cash on deposit | $279 | $279 | $- | $- | $36 | $36 | $- | $-
Pooled funds | 7,959 | 7,959 | - | - | 8,234 | 8,234 | - | -
Total plan assets | $8,238 | $8,238 | $- | $- | $8,270 | $8,270 | $- | $-


Question: What is the the value of the 2019 cash on deposit as a percentage of the total 2019 plan assets? 
Answer: 3.39
Calculation: 279/8,238
table of contents valero energy corporation notes to consolidated financial statements ( continued ) 11 . equity share activity activity in the number of shares of common stock and treasury stock was as follows ( in millions ) : common treasury .

Table:
 | commonstock | treasurystock
balance as of december 31 2015 | 673 | -200 ( 200 )
transactions in connection withstock-based compensation plans | 2014 | 1
stock purchases under purchase program | 2014 | -23 ( 23 )
balance as of december 31 2016 | 673 | -222 ( 222 )
transactions in connection withstock-based compensation plans | 2014 | 1
stock purchases under purchase programs | 2014 | -19 ( 19 )
balance as of december 31 2017 | 673 | -240 ( 240 )
stock purchases under purchase programs | 2014 | -16 ( 16 )
balance as of december 31 2018 | 673 | -256 ( 256 )
preferred stock we have 20 million shares of preferred stock authorized with a par value of $ 0.01 per share .
no shares of preferred stock were outstanding as of december 31 , 2018 or 2017 .
treasury stock we purchase shares of our common stock as authorized under our common stock purchase program ( described below ) and to meet our obligations under employee stock-based compensation plans .
on july 13 , 2015 , our board of directors authorized us to purchase $ 2.5 billion of our outstanding common stock with no expiration date , and we completed that program during 2017 .
on september 21 , 2016 , our board of directors authorized our purchase of up to an additional $ 2.5 billion with no expiration date , and we completed that program during 2018 .
on january 23 , 2018 , our board of directors authorized our purchase of up to an additional $ 2.5 billion ( the 2018 program ) with no expiration date .
during the years ended december 31 , 2018 , 2017 , and 2016 , we purchased $ 1.5 billion , $ 1.3 billion , and $ 1.3 billion , respectively , of our common stock under our programs .
as of december 31 , 2018 , we have approval under the 2018 program to purchase approximately $ 2.2 billion of our common stock .
common stock dividends on january 24 , 2019 , our board of directors declared a quarterly cash dividend of $ 0.90 per common share payable on march 5 , 2019 to holders of record at the close of business on february 13 , 2019 .
valero energy partners lp units on september 16 , 2016 , vlp entered into an equity distribution agreement pursuant to which vlp offered and sold from time to time their common units having an aggregate offering price of up to $ 350 million based on amounts , at prices , and on terms determined by market conditions and other factors at the time of .

Question: how much , in billions , was spent purchasing common stock under the programs from 2016-2018?
Answer: 4.1
Calculation: add(1.5, 1.3), add(#0, 1.3)
Other Income (Expense), Net
Other expense, net decreased by $31 thousand in 2019 compared to 2018 as a result of the recognition of a $1.4 million loss on extinguishment related to the partial repurchase of our 2022 Notes and a $1.1 million increase in interest expense related to our convertible senior notes, offset by an increase of $2.7 million of interest income earned on our investment as a result of proceeds invested from our convertible note and common stock offerings.
Table:
 | Year Ended December 31, |  | Change | 
 | 2019 | 2018 | $ | %
 |  | (dollars in thousands) |  | 
Other expense, net | $ 4,597 | $ 4,628 | $ (31) | (0.7)%
% of revenue | 2% | 3% |  | 


Question: What is the change in the % of revenue from 2018 to 2019?
Answer: -1
Calculation: 2 - 3
Consolidated Results
The table below sets forth for the fiscal years ended April 30, 2019 and 2018, the percentage of consolidated net sales represented by certain items in the Company’s consolidated statements of operations:
Table:
 | 2019 | 2018
Revenues |  | 
FEI-NY | 76.9% | 68.4%
FEI-Zyfer | 24.7 | 38.8
Less intersegment revenues | (1.6) | (7.2)
 | 100.0 | 100.0
Cost of Revenues | 68.1 | 86.9
Gross profit | 31.9 | 13.1
Selling and Administrative expenses | 24.5 | 26.9
Research and Development expenses | 13.1 | 17.6
Operating Profit/(Loss) | (5.7) | (31.4)
Other Income (Expenses), net | 0.7 | 2.8
Provision (Benefit) for Income Taxes | 0.1 | 28.4
Loss from continuing operations | (5.1) | (57.0)
(Loss) Income from discontinued operations, net of tax | - | (2.5)
Loss on sale of discontinued operations | - | (0.9)
Net Loss | (5.1)% | (60.4)%


Question: What is the difference in percentage of revenues from FEI-NY between 2019 and 2018?
Answer: 8.5
Calculation: 76.9-68.4
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 are the company's respective foreign income before taxes in 2018 and 2019?
Answer: 168,228, 389,767
Foreign Currency Analysis
We generate a significant amount of our revenue in the United States, Germany, Japan, the United Kingdom and Canada
The following table shows the impact of foreign exchange rate changes on our net revenue and total spend:
(1) Please refer to the Glossary of Terms for the definitions of our constant currency growth rates.
Changes in the value of the U.S. dollar may have a significant effect on net revenue, total spend, and income (loss) from operations in future periods. We use foreign currency contracts to reduce the exchange rate effect on a portion of the net revenue of certain anticipated transactions but do not attempt to completely mitigate the impact of fluctuations of such foreign currency against the U.S. dollar.
Table:
 | Fiscal Year Ended January 31, 2019 |  | 
 | Percent change compared to prior fiscal year (as reported) | Constant currency percent change compared to prior fiscal year (1) | Positive/negative/neutral impact from foreign exchange rate changes
Revenue | 25% | 24% | Positive
Total spend | 1% | 1% | Neutral


Question: Which foreign exchange rate is likely to have the most impact on the company's operations?
Answer: U.S. dollar
Base Salary
Base salary for our named executive officers is the fixed component of our executive compensation program. We use base salary to compensate our named executive officers for services rendered during the year and to recognize the experience, skills, knowledge and responsibilities required of each named executive officer. We apply no specific formula to determine adjustments to base salary. Adjustments to base salary have been made to reflect our economic condition and future expected performance. We continue to provide base salaries that are conservative relative to competitive market pay levels.
In April 2018, our compensation committee reviewed the base salaries of Mses. Friar, Henry, Reses and Whiteley, taking into consideration a competitive market analysis performed by Compensia, the recommendations of our CEO and our then-current People Lead, the desire to retain our highly qualified executive team and the other factors described above. Following this review, our compensation committee approved an increase in the annual base salary levels for Mses. Friar, Henry, Reses and Whiteley to $400,000, in each case effective as of April 1, 2018, in order to improve competitive alignment with our peers. In addition, our compensation committee determined that it was appropriate to leave our CEO’s 2018 base salary level at $2.75 per year, at the request of our CEO and with compensation committee approval.
The annualized base salaries of our named executive officers as of December 31, 2018 compared to December 31, 2017 were:
(1) Ms. Friar resigned from her position as Chief Financial Officer, effective as of November 16, 2018, at which time her annual base salary was $400,000.
(2) Ms. Whiteley was appointed to General Counsel and Corporate Secretary effective March 18, 2018, and her salary was adjusted to reflect her promotion to this role.
(3) The base salaries of Messrs. Daswani and Murphy were not adjusted in conjunction with their service as interim co-CFOs. Salary adjustments for Messrs. Daswani and Murphy made in April 2018, prior to their becoming named executive officers, were made as part of the company-wide compensation review program. Their salary adjustments were recommended by their direct manager and approved by the then-current People Lead. Messrs. Daswani and Murphy’s annualized base salaries at the time of their appointment as interim co-CFOs were $300,000 and $295,000, respectively.
Table:
Named Executive Officer | Annual Base Salary as of December 31, 2017 | Annual Base Salary as of December 31, 2018 | Percentage Increase
Mr. Dorsey | $2.75 | $2.75 | 0%
Ms. Friar (1) | $350,000 | $N/A | N/A
Ms. Henry | $350,000 | $400,000 | 14%
Ms. Reses | $350,000 | $400,000 | 14%
Ms. Whiteley (2) | $325,000 | $400,000 | 23%
Mr. Daswani (3) | $280,000 | $300,000 | 7%
Mr. Murphy (3) | $270,000 | $295,000 | 9%


Question: What is the annual base salary of Ms. Henry in 2017 and 2018 respectively?
Answer: $350,000, $400,000
Our calculation of TCE may not be comparable to that reported by other entities. The following table reconciles our total operating revenues to average daily TCE:
(i) "Voyage and commission expenses" is derived from the caption "Voyage, charterhire and commission expenses" and "Voyage, charterhire and commission expenses - collaborative arrangement" less (i) charterhire expenses (net of the effect of the related guarantee obligation) of $nil, $nil and $12.4 million for the years ended December 31, 2019, 2018 and 2017, respectively, which arose on the charter-back of the Golar Grand from Golar Partners, and (ii) voyage and commission expenses in relation to the Hilli Episeyo of $0.5 million, $1.4 million and $nil for the years ended December 31, 2019, 2018 and 2017, respectively.
(5) We calculate average daily vessel operating costs by dividing vessel operating costs by the number of calendar days. Calendar days exclude those from vessels chartered in where the vessel operating costs are borne by the legal owner, and those of vessels undergoing conversion.
Table:
 |  |  | Years Ended December 31, |  | 
 | 2019 | 2018 | 2017 | 2016 | 2015
 |  |  | (in thousands of U.S.$, except number of shares, per common share data, fleet and other financial data) |  | 
Total operating revenues | 448,750 | 430,604 | 143,537 | 80,257 | 102,674
Less: Liquefaction services revenue | (218,096) | (127,625) | — | — | —
Less: Vessel and other management fees | (21,888) | (24,209) | (26,576) | (14,225) | (12,547)
Net time and voyage charter revenues | 208,766 | 278,770 | 116,961 | 66,032 | 90,127
Voyage and commission expenses (i) | (38,381) | (104,463) | (48,933) | (25,291) | (23,434)
 | 170,385 | 174,307 | 68,028 | 40,741 | 66,693
Calendar days less scheduled off-hire days | 3,840 | 3,987 | 3,885 | 4,034 | 4,481
Average daily TCE rate (to the closest $100) | 44,400 | 43,700 | 17,500 | 10,100 | 14,900


Question: How was the average daily vessel operating cost calculated?
Answer: By dividing vessel operating costs by the number of calendar days