hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
11 Intangible assets (continued)
(a) Intangible assets
RIGHTS AND LICENCES
Certain licences that NEXTDC possesses have an indefinite useful life and are carried at cost less impairment losses and are subject to impairment review at least annually and whenever there is an indication that it may be impaired.
Other licences that NEXTDC acquires are carried at cost less accumulated amortisation and accumulated impairment losses. Amortisation is recognised on a straight-line basis over the estimated useful life. The estimated useful life and amortisation method are reviewed at the end of each annual reporting period.
INTERNALLY GENERATED SOFTWARE
Internally developed software is capitalised at cost less accumulated amortisation. Amortisation is calculated using the straight-line basis over the asset’s useful economic life which is generally two to three years. Their useful lives and potential impairment are reviewed at the end of each financial year.
SOFTWARE UNDER DEVELOPMENT
Costs incurred in developing products or systems and costs incurred in acquiring software and licenses that will contribute to future period financial benefits through revenue generation and/or cost reduction are capitalised to software and systems. Costs capitalised include external direct costs of materials and services and employee costs.
Assets in the course of construction include only those costs directly attributable to the development phase and are only recognised following completion of technical feasibility and where the Group has an intention and ability to use the asset.
Table:
 | Rights and licenses | Internally generated software | Software under development | Total
Movements | $'000 | $'000 | $'000 | $'000
At 30 June 2019 |  |  |  | 
Cost | 13 | 12,961 | 16,284 | 29,259
Accumulated amortisation | - | (5,580) | - | (5,580)
Netbook amount | 13 | 7,381 | 16,284 | 23,678
30 June 2018 |  |  |  | 
Opening net book amount at 1 July 2017 | 43 | 442 | 8,053 | 8,538
Additions – externally acquired | 13 | - | 5,253 | 5,266
Additions – internally developed | - | - | 1,256 | 1,256
Amortisation | (43) | (1,746) | - | (1,789)
Transfers | - | 7,563 | (7,563) | -
Transfer between classes | - | 744 | - | 744
Disposals | - | (618) | (490) | (1,108)
Closing net book amount | 13 | 6,385 | 6,509 | 12,907
At 30 June 2018 |  |  |  | 
Cost | 104 | 9,555 | 6,509 | 16,168
Accumulated amortisation | (91) | (3,170) | - | (3,261)
Net book amount | 13 | 6,385 | 6,509 | 12,907


Question: Which year have greater total accumulated amortisation? 
Answer: 2019
Calculation: 2019: (5,580) vs 2018: (3,261)
Capital management
The Group considers capital to be net debt plus total equity. Net debt is calculated as total bank debt and lease financing, less unamortised debt fees and cash and cash equivalents as shown in note 32. Total equity is as shown in the Consolidated balance sheet.
The calculation of total capital is shown in the table below:
Following the application of IFRS 16, total capital for the year ended 31 March 2018 has been restated (note 2).
The objectives for managing capital are to safeguard the Group’s ability to continue as a going concern, in order to provide returns for shareholders and benefits for other stakeholders and to maintain an efficient capital structure to optimise the cost of capital. In order to maintain or adjust the capital structure, the Group may adjust the amount of dividends paid to shareholders, return capital to shareholders, issue new shares or take other steps to increase share capital and reduce or increase debt facilities.
As at 31 March 2019, the Group had borrowings of £313.0m (2018: £343.0m) through its Syndicated revolving credit facility (2018: Syndicated Term Loan). Interest is payable on this facility at a rate of LIBOR plus a margin of between 1.2% and 2.1% depending on the consolidated leverage ratio of Auto Trader Group plc and its subsidiaries, which is calculated and reviewed on a biannual basis. The Group remains in compliance with its banking covenants.
Table:
 | 2019 | (Restated) 2018
 | £m | £m
Total net debt | 321.0 | 355.2
Total equity | 59.0 | 5.6
Total capital | 380.0 | 360.8


Question: What was the amount of borrowings the Group had as at 31 March 2019?
Answer: borrowings of £313.0m (2018: £343.0m) through its Syndicated revolving credit facility (2018: Syndicated Term Loan).
18. Geographic Information
Revenue by geography is based on the customer's billing address, and was as follows:
No individual international country represented more than 10% of total revenue in any period presented.
Table:
 | Year Ended December 31, |  | 
 | 2019 | 2018 | 2017
U.S. | $1,979.6 | $1,723.9 | 1,504.5
International | 1,008.5 | 936.2 | 727.4
 | $2,988.1 | $2,660.1 | $2,231.9


Question: Which 2 geographic segments are listed in the table?
Answer: U.S., International
13. Net Loss Per Share
Basic net loss per share is computed using the weighted average number of shares of common stock outstanding for the period, excluding stock options and restricted stock units. Diluted net loss per share is based upon the weighted average number of shares of common stock outstanding for the period and potentially dilutive common shares, including the effect of stock options and restricted stock units under the treasury stock method. The following table sets forth the computation of the numerators and denominators used in the basic and diluted net loss per share amounts:
(1) The effect of dilutive securities of 3.1 million, 4.5 million, and 4.6 million shares for the fiscal years ended January 31, 2019, 2018, and 2017, respectively, have been excluded from the calculation of diluted net loss per share as those shares would have been anti-dilutive due to the net loss incurred during those fiscal years.
The computation of diluted net loss per share does not include shares that are anti-dilutive under the treasury stock method because their exercise prices are higher than the average market value of Autodesk’s stock during the fiscal year. The effect of 0.5 million, 0.5 million, and 0.1 million potentially anti-dilutive shares were excluded from the computation of net loss per share for the fiscal years ended January 31, 2019, 2018, and 2017, respectively.
Table:
 |  | Fiscal Year Ended January 31, | 
 | 2019 | 2018 | 2017
Numerator: |  |  | 
Net loss | $(80.8) | $(566.9) | $(582.1)
Denominator: |  |  | 
Denominator for basic net loss per share—weighted average shares | 218.9 | 219.5 | 222.7
Effect of dilutive securities (1) | — | — | —
Denominator for dilutive net loss per share | 218.9 | 219.5 | 222.7
Basic net loss per share | $(0.37) | $(2.58) | $(2.61)
Diluted net loss per share | $(0.37) | $(2.58) | $(2.61)


Question: Why does the computation of diluted net loss per share does not include shares that are anti-dilutive under the treasury stock method?
Answer: The computation of diluted net loss per share does not include shares that are anti-dilutive under the treasury stock method
Unrecognized Tax Benefits
A reconciliation of the beginning and ending amount of gross unrecognized tax benefits, excluding interest and penalties associated with unrecognized tax benefits, for the periods presented is as follows (table in millions):
Of the net unrecognized tax benefits, including interest and penalties, $323 million and $296 million were included in income tax payable on the consolidated balance sheets as of January 31, 2020 and February 1, 2019, respectively. Approximately $313 million and $266 million, respectively, would, if recognized, benefit VMware's annual effective income tax rate. VMware includes interest expense and penalties related to income tax matters in the income tax provision. VMware had accrued $48 million and $56 million of interest and penalties associated with unrecognized tax benefits as of January 31, 2020 and February 1, 2019, respectively. Income tax expense during the year ended February 1, 2019 included interest and penalties associated with uncertain tax positions of $15 million. Interest and penalties associated with uncertain tax positions included in income tax expense (benefit) were not significant during the years ended January 31, 2020 and February 2, 2018.
The Dell-owned EMC consolidated group is routinely under audit by the IRS. All U.S. federal income tax matters have been concluded for years through 2015 while VMware was part of the Dell-owned EMC consolidated group. The IRS has started its examination of fiscal years 2015 through 2019 for the Dell consolidated group, which VMware was part of beginning fiscal 2017. In addition, VMware is under corporate income tax audits in various states and non-U.S. jurisdictions. Consistent with the Company’s historical practices under the tax sharing agreement with EMC, when VMware becomes subject to federal tax audits as a member of Dell’s consolidated group, the tax sharing agreement provides that Dell has authority to control the audit and represent Dell’s and VMware’s interests to the IRS.
Open tax years subject to examinations for larger non-U.S. jurisdictions vary beginning in 2008. Audit outcomes and the timing of audit settlements are subject to significant uncertainty. When considering the outcomes and the timing of tax examinations, the expiration of statutes of limitations for specific jurisdictions, or the timing and result of ruling requests from taxing authorities, it is reasonably possible that total unrecognized tax benefits could be potentially reduced by approximately $17 million within the next 12 months.
Table:
 |  | For the Year Ended | 
 | January 31, 2020 | February 1, 2019 | February 2, 2018
Balance, beginning of the year | $385 | $305 | $265
Tax positions related to current year: |  |  | 
Additions | 116 | 57 | 63
Tax positions related to prior years: |  |  | 
Additions | 98 | 44 | 2
Reductions | (7) | (1) | (2)
Settlements | (28) | (4) | (9)
Reductions resulting from a lapse of the statute of limitations | (83) | (8) | (24)
Foreign currency effects | (2) | (8) | 10
Balance, end of the year | $479 | $385 | $305


Question: What were the settlements for tax positions related to prior years in 2019?
Answer: (4)
ALTERNATIVE PERFORMANCE MEASURES – continued
Return on Invested Capital (RoIC): TORM defines RoIC as earnings before interest and tax (EBIT) less tax, divided by the average invested capital for the period. Invested capital is defined below.
RoIC expresses the returns generated on capital invested in the Group. The progression of RoIC is used by TORM to measure progress against our longer-term value creation goals outlined to investors. RoIC is calculated as follows:
Table:
USDm | 2019 | 2018 | 2017
Operating profit/(loss) (EBIT) | 205.9 | 2.8 | 39.5
Tax | -0.8 | -1.6 | -0.8
EBIT less Tax | 205.1 | 1.2 | 38.7
Invested capital, opening balance | 1,469.4 | 1,406.0 | 1,387.7
Invested capital, ending balance | 1,786.0 | 1,469.4 | 1,406.0
Average invested capital for the year | 1,627.7 | 1,437.7 | 1,396.9
Return on Invested Capital (RoIC) | 12.6% | 0.1% | 2.8%


Question: What was the percentage change in the Average invested capital for the year in 2019 from 2018?
Answer: 13.22
Calculation: (1,627.7-1,437.7)/1,437.7
15. ASSET UNDER DEVELOPMENT
In May 2018, upon the completion of the Hilli FLNG conversion and commissioning, we reclassified $1,296 million to "Vessels and equipment, net" in our consolidated balance sheet as of December 31, 2018.
In December 2018, we entered into agreements with Keppel for the conversion of the Gimi to a FLNG and consequently reclassified the carrying value of the Gimi of $20.0 million from "Vessels and equipment, net" to "Asset under development".
In February 2019, Golar entered into an agreement with BP for the employment of a FLNG unit, Gimi, to service the Greater Tortue Ahmeyim project for a 20-year period expected to commence in 2022.
In April 2019, we issued the shipyard with a Final Notice to Proceed with conversion works that had been initiated under the Limited Notice to Proceed. We also completed the sale of 30% of the total issued ordinary share capital of Gimi MS Corp to First FLNG Holdings (see note 5). The estimated conversion cost of the Gimi is approximately $1.3 billion.
Table:
(in thousands of $) | 2019 | 2018
As of January 1 | 20,000 | 1,177,489
Additions | 372,849 | 118,942
Transfer to vessels and equipment, net (note 16) | — | (1,296,431)
Transfer from vessels and equipment, net (note 16) | — | 20,000
Transfer from other non-current assets (note 17) | 31,048 | —
Interest costs capitalized | 10,351 | —
As of December 31 | 434,248 | 20,000


Question: Which year was the asset under development as of January 1 higher?
Answer: 2018
Calculation: 1,177,489 > 20,000
1.10 Percentage change in remuneration of the Group Chief Executive
The following table provides a summary of the 2019 increase in base salary, benefits and bonus for the Group Chief Executive compared to the average increase for the general UK employee population across the Group in the same period.
* 2018 percentage restated to include all UK bonuses for the general UK employee population across the Group.
Table:
 |  | 2019 change | 2018 change
Salary | Group Chief Executive | 7.7% | 2.7%
 | General employee population | 2.9% | 2.7%
Benefits | Group Chief Executive | 5.2% | 3.2%
 | General employee population | 2.9% | 2.7%
Bonus | Group Chief Executive | 15.5% | -4.9%
 | General employee population* | 22.2% | 1.6%


Question: What are the components of remuneration reflected in the table?
Answer: Salary, Benefits, Bonus
34. Share-based payment continued
3.8 million share incentives were granted during 2019 (2018 2.7 million). The fair value of share incentives has been estimated as at the date of grant using the Black-Scholes binomial model. The following table gives the assumptions made in arriving at the share-based payment charge and the fair value:
The expected volatility was determined by calculating the historical volatility of the Company’s share price over the previous two years which management considers to be the period which is likely to be most representative of future volatility. The risk free rate is calculated by reference to UK government bonds.
Table:
 | 2019 | 2018
Weighted average share price (pence) | 163.1 | 112.9
Weighted average exercise price (pence) | 0.0 | 0.0
Weighted average fair value (pence) | 141.1 | 95.1
Expected volatility (%) | 31.6–32.8 | 30.6
Option life (years): |  | 
– Performance Shares | 3.0 | 3.0
– Options and SARs | 10.0 | 10.0
Risk free rate (%) | 0.48-0.72 | 0.88
Dividend yield (%) | 2.5–3.0 | 3.0


Question: How is the fair value of share incentives estimated?
Answer: at the date of grant using the Black-Scholes binomial model
The three levels are described below:
Level 1 Inputs – Unadjusted quoted prices in active markets for identical assets or liabilities that is accessible by the Company;
Level 2 Inputs – Quoted prices in markets that are not active or financial instruments for which all significant inputs are observable, either directly or indirectly;
Level 3 Inputs – Unobservable inputs for the asset or liability including significant assumptions of the Company and other market participants.
The carrying amount of the Company’s financial assets and liabilities, such as cash, accounts payable and accrued expenses approximate their fair value because of
the short maturity of those instruments. The carrying amount of the Company’s financial assets and liabilities, such as cash, accounts payable and accrued expenses approximate their fair value because of the short maturity of those instruments.
Transactions involving related parties cannot be presumed to be carried out on an arm’s-length basis, as the requisite conditions of competitive, free-market dealings
may not exist. Representations about transactions with related parties, if made, shall not imply that the related party transactions were consummated on terms equivalent to
those that prevail in arm’s-length transactions unless such representations can be substantiated.
The assets or liability’s fair value measurement within the fair value hierarchy is based upon the lowest level of any input that is significant to the fair value measurement. The following table provides a summary of financial instruments that are measured at fair value as of December 31, 2019.
Table:
 |  | Fair Value Measurement Using |  |  | 
 | Carrying Value | Level 1 | Level 2 | Level 3 | Total
Marketable securities | 0 | 0 | 0 | 0 | 0
Derivative warrants liabilities | $(332,222) | $- | $- | $(332,222) | $(332,222)


Question: What percentage of the total financial instruments are marketable securities?
Answer: 0
Calculation: 0/332,222
Selected Quarterly Financial Data (Unaudited)
Selected quarterly financial data is as follows (in millions, except per share amounts):
(1) In the quarter ended January 26, 2018, our provision for income taxes included significant charges attributable to United States tax reform.
(2) The quarters of fiscal 2018 have been adjusted for our retrospective adoption of the new accounting standard Revenue from Contracts with Customers (ASC 606).
Table:
 |  |  | Quarter Ended (2) | 
 | July 28, 2017 | October 27, 2017 | January 26, 2018 | April 27, 2018
Net revenues | $ 1,321 | $ 1,415 | $ 1,539 | $ 1,644
Gross profit | $ 824 | $ 900 | $ 956 | $ 1,029
Provision for income taxes (1) | $ 14 | $ 48 | $ 983 | $ 38
Net income (loss) | $ 131 | $ 174 | $(479 ) | $ 290
Net income (loss) per share, basic | $ 0.49 | $ 0.65 | $(1.79 ) | $ 1.09
Net income (loss) per share, diluted | $ 0.47 | $ 0.63 | $(1.79 ) | $ 1.06


Question: What was the sum of the net revenues from the last two quarters?
Answer: 3183
Calculation: 1,539+1,644
The maximum exposure to credit risk for trade receivables at the reporting date by type of customer was:
The Group’s most significant customer accounts for £0.5m (2018: £0.6m) of net trade receivables as at 31 March 2019.
Table:
 | 2019 | 2018
 | £m | £m
Retailers | 20.4 | 21.7
Manufacturer and Agency | 3.2 | 3.0
Other | 1.3 | 0.7
Total | 24.9 | 25.4


Question: In which year was the amount of Other larger?
Answer: 2019
Calculation: 1.3>0.7
The following is a roll-forward of the Company’s uncertain tax positions, recorded in other long-term liabilities, from January 1, 2017 to December 31, 2019:
The majority of the net increase for positions relates to the potential tax on freight income on changes for positions taken in prior years and an increased number of voyages for the year ended December 31, 2019.
The Company recognizes interest and penalties related to uncertain tax positions in income tax expense. The interest and penalties on unrecognized tax benefits are included in the roll-forward schedule above, and are increases of approximately $13.2 million, $9.2 million and $6.4 million in 2019, 2018 and 2017, respectively.
Table:
 | Year Ended | Year Ended | Year Ended
 | December 31, | December 31, | December 31,
 | 2019 | 2018 | 2017
 | $ | $ | $
Balance of unrecognized tax benefits as at January 1 | 40,556 | 31,061 | 19,492
Increases for positions related to the current year | 5,829 | 9,297 | 2,631
Changes for positions taken in prior years | 19,119 | 981 | 3,475
Decreases related to statute of limitations | (2,546) | (783) | (1,562)
Increase due to acquisition of TIL | — | — | 8,528
Decrease due to deconsolidation of Altera | — | — | (1,503)
Balance of unrecognized tax benefits as at December 31 | 62,958 | 40,556 | 31,061


Question: What are the increases for the interest and penalties on unrecognized tax benefits in 2019, 2018 and 2017?
Answer: The interest and penalties on unrecognized tax benefits are included in the roll-forward schedule above, and are increases of approximately $13.2 million, $9.2 million and $6.4 million in 2019, 2018 and 2017, respectively.
Invested capital:
TORM defines invested capital as the sum of intangible assets, tangible fixed assets, investments in joint ventures, bunkers, accounts receivables, assets held-for-sale (when applicable), deferred tax liability, trade payables, current tax liabilities and deferred income. Invested capital measures the net investment used to achieve the Company’s operating profit. The Company believes that invested capital is a relevant measure that Management uses to measure the overall development of the assets and liabilities generating the net profit. Such measure may not be comparable to similarly titled measures of other companies. Invested capital is calculated as follows:
¹⁾ Accounts receivables includes Freight receivables, Other receivables and Prepayments.
²⁾ Trade payables includes Trade payables and Other liabilities.
Table:
USDm | 2019 | 2018 | 2017
Tangible and intangible fixed assets | 1,782.2 | 1,445.0 | 1,384.8
Investments in joint ventures | 1.2 | 0.1 | 0.3
Bunkers | 34.8 | 39.4 | 33.2
Accounts receivables ¹⁾ | 99.5 | 96.3 | 87.5
Assets held-for-sale | 9.1 | 6.2 | 6.6
Deferred tax liability | -44.9 | -44.9 | -44.9
Trade payables ²⁾ | -94.4 | -71.6 | -60.0
Current tax liabilities | -1.5 | -1.0 | -1.4
Deferred income | - | -0.1 | -0.1
Invested capital | 1,786.0 | 1,469.4 | 1,406.0


Question: What does trade payables in the table include?
Answer: Trade payables and Other liabilities
A summary of the option activity as of May 26, 2019 and changes during the fiscal year then ended is presented below:
We recognize compensation expense using the straight-line method over the requisite service period, accounting for forfeitures as they occur. During fiscal 2017, we granted 1.1 million stock options with a weighted average grant date fair value of $6.12 per share. The total intrinsic value of stock options exercised was $7.9 million, $15.8 million, and $29.8 million for fiscal 2019, 2018, and 2017, respectively. The closing market price of our common stock on the last trading day of fiscal 2019 was $28.83 per share.
Compensation expense for stock option awards totaled $2.2 million, $4.2 million, and $6.2 million for fiscal 2019, 2018, and 2017, respectively, including discontinued operations of $0.2 million for fiscal 2017. Included in the compensation expense for stock option awards for fiscal 2019, 2018, and 2017 was $0.2 million, $0.4 million, and $0.9 million, respectively, related to stock options granted by a subsidiary in the subsidiary's shares to the subsidiary's employees. The tax benefit related to the stock option expense for fiscal 2019, 2018, and 2017 was $0.5 million, $1.4 million, and $2.4 million, respectively.
At May 26, 2019, we had $0.2 million of total unrecognized compensation expense related to stock options that will be recognized over a weighted average period of 0.1 years.
Cash received from stock option exercises for fiscal 2019, 2018, and 2017 was $12.4 million, $25.1 million, and $84.4 million, respectively. The actual tax benefit realized for the tax deductions from option exercises totaled $2.3 million, $5.3 million, and $19.5 million for fiscal 2019, 2018, and 2017, respectively.
Table:
Options | Number of Options (in Millions) | Weighted Average Exercise Price | Average Remaining Contractual Term (Years) | Aggregate Intrinsic Value (in Millions)
Outstanding at May 27, 2018 | 5.1 | $28.11 |  | 
Exercised | (0.6) | $20.75 |  | $7.9
Expired | (0.1) | $29.84 |  | 
Outstanding at May 26, 2019 | 4.4 | $29.00 | 5.47 | $9.9
Exercisable at May 26, 2019 | 4.1 | $28.38 | 5.32 | $9.9


Question: What is the proportion of exercisable options over outstanding options as of May 26, 2019?
Answer: 0.93
Calculation: 4.1 / 4.4