hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
14. INCOME TAXES
Our effective tax rates for each of the periods presented are the result of the mix of income earned in various tax jurisdictions that apply a broad range of income tax rates. The more significant provisions of the Tax Act as applicable to us are described in Note 1 above under “Impacts of the U.S. Tax Cuts and Jobs Act of 2017.” During fiscal 2019, we recorded a net benefit of $389 million in accordance with SAB 118 related to adjustments in our estimates of the one-time transition tax on certain foreign subsidiary earnings, and the remeasurement of our net deferred tax assets and liabilities affected by the Tax Act. Our provision for income taxes for fiscal 2019 varied from the 21% U.S. statutory rate imposed by the Tax Act primarily due to earnings in foreign operations, state taxes, the U.S. research and development tax credit, settlements with tax authorities, the tax effects of stock-based compensation, the Foreign Derived Intangible Income deduction, the tax effect of GILTI, and a reduction to our transition tax recorded consistent with the provision of SAB 118. Our provision for income taxes for fiscal 2018 varied from the 21% U.S. statutory rate imposed by the Tax Act primarily due to the impacts of the Tax Act upon adoption, state taxes, the U.S. research and development tax credit, settlements with tax authorities, the tax effects of stock-based compensation and the U.S. domestic production activity deduction. Prior to the January 1, 2018 effective date of the Tax Act, our provision for income taxes historically differed from the tax computed at the previous U.S. federal statutory income tax rate due primarily to certain earnings considered as indefinitely reinvested in foreign operations, state taxes, the U.S. research and development tax cr edit, settlements with tax authorities, the tax effects of stock-based compensation and the U.S. domestic production activity deduction.
The following is a geographical breakdown of income before the provision for income taxes:
Table:
 | Year Ended May 31 |  | 
(in millions) | 2019 | 2018 | 2017
Domestic | $3,774 | $3,366 | $3,674
Foreign | 8,494 | 9,058 | 8,006
Income before provision for income taxes | $12,268 | $12,424 | $11,680
 |  |  | 


Question: Why did the company's provision for income taxes for fiscal 2018 vary from the 21% U.S. statutory rate imposed by the Tax Act?
Answer: Our provision for income taxes for fiscal 2018 varied from the 21% U.S. statutory rate imposed by the Tax Act primarily due to the impacts of the Tax Act upon adoption, state taxes, the U.S. research and development tax credit, settlements with tax authorities, the tax effects of stock-based compensation and the U.S. domestic production activity deduction.
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 Sales for 2018?
Answer: $ 670.7
Total Deferred Revenue
The adoption of ASC Topic 606 required a change to the definition of unbilled deferred revenue and new qualitative and quantitative disclosures around our performance obligations. Unbilled deferred revenue represents contractually stated or committed orders under early renewal and multi-year billing plans primarily for subscription, services and maintenance for which the associated deferred revenue has not been recognized. Under ASC Topic 606, unbilled deferred revenue is not included as a receivable or deferred revenue on our Consolidated Balance Sheet. See Part II, Item 8, Note 2, “Revenue Recognition” for more details on Autodesk's performance obligations.
We expect that the amount of billed and unbilled deferred revenue will change from quarter to quarter for several reasons, including the specific timing, duration and size of customer subscription and support agreements, varying billing cycles of such agreements, the specific timing of customer renewals, and foreign currency fluctuations
Table:
 | January 31, 2019 |  | January 31, 2018
(in millions) | ASC 606 | ASC 605 | ASC 605
Deferred revenue | $2,091.4 | $2,269.2 | $1,955.1
Unbilled deferred revenue | 591.0 | 491.6 | 326.4
Total deferred revenue | $2,682.4 | $2,760.8 | $2,281.5


Question: What are possible reasons that the amount of billed and unbilled deferred revenue will change from quarter to quarter?
Answer: amount of billed and unbilled deferred revenue will change from quarter to quarter for several reasons, including the specific timing, duration and size of customer subscription and support agreements, varying billing cycles of such agreements, the specific timing of customer renewals, and foreign currency fluctuations
packaging corporation of america notes to consolidated financial statements ( continued ) december 31 , 2006 4 . stock-based compensation ( continued ) same period was $ 1988000 lower , than if it had continued to account for share-based compensation under apb no . 25 . basic and diluted earnings per share for the year ended december 31 , 2006 were both $ 0.02 lower than if the company had continued to account for share-based compensation under apb no . 25 . prior to the adoption of sfas no . 123 ( r ) , the company presented all tax benefits of deductions resulting from share-based payment arrangements as operating cash flows in the statements of cash flows . sfas no . 123 ( r ) requires the cash flows resulting from the tax benefits from tax deductions in excess of the compensation cost recognized for those share awards ( excess tax benefits ) to be classified as financing cash flows . the excess tax benefit of $ 2885000 classified as a financing cash inflow for the year ended december 31 , 2006 would have been classified as an operating cash inflow if the company had not adopted sfas no . 123 ( r ) . as a result of adopting sfas no 123 ( r ) , unearned compensation previously recorded in stockholders 2019 equity was reclassified against additional paid in capital on january 1 , 2006 . all stock-based compensation expense not recognized as of december 31 , 2005 and compensation expense related to post 2005 grants of stock options and amortization of restricted stock will be recorded directly to additional paid in capital . compensation expense for stock options and restricted stock recognized in the statements of income for the year ended december 31 , 2006 , 2005 and 2004 was as follows : year ended december 31 , ( in thousands ) 2006 2005 2004 .

Table:
( in thousands ) | year ended december 31 , 2006 | year ended december 31 , 2005 | year ended december 31 , 2004
stock options | $ -3273 ( 3273 ) | $ 2014 | $ 2014
restricted stock | -2789 ( 2789 ) | -1677 ( 1677 ) | -663 ( 663 )
impact on income before income taxes | -6062 ( 6062 ) | -1677 ( 1677 ) | -663 ( 663 )
income tax benefit | 2382 | 661 | 260
impact on net income | $ -3680 ( 3680 ) | $ -1016 ( 1016 ) | $ -403 ( 403 )
.

Question: what was the difference in thousands in impact on net income due to compensation expense for stock options and restricted stock between 2004 and 2005?
Answer: 613
Calculation: subtract(1016, 403)
6. Supplemental Financial Information
Cash and cash equivalents (in millions):
The following table presents cash and cash equivalents as reported in our consolidated balance sheets, as well as the sum of cash, cash equivalents and restricted cash as reported on our consolidated statement of cash flows in accordance with our adoption of the ASU discussed in Note 1 – Description of Business and Significant Accounting Policies.
Table:
 | April 26, 2019 | April 26, 2018
Cash | $ 2,216 | $ 2,727
Cash equivalents | 109 | 214
Cash and cash equivalents | $ 2,325 | $ 2,941
Short-term restricted cash | 5 | 5
Long-term restricted cash | 1 | 1
Restricted cash | $ 6 | $ 6
Cash, cash equivalents and restricted cash | $ 2,331 | $ 2,947


Question: What was the change in cash and cash equivalents between 2018 and 2019?
Answer: -616
Calculation: 2,325-2,941
GreenSky, Inc. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued) (United States Dollars in thousands, except per share data, unless otherwise stated)
Note 18. Quarterly Consolidated Results of Operations Data (Unaudited)
The following table sets forth our quarterly consolidated results of operations data for each of the eight quarters in the period ended December 31, 2019. GS Holdings is our predecessor for accounting purposes and, accordingly, amounts prior to the Reorganization Transactions and IPO represent the historical consolidated operations of GS Holdings and its subsidiaries. The amounts during the period from May 24, 2018 through December 31, 2018 represent those of consolidated GreenSky, Inc. and its subsidiaries. Basic and diluted earnings per share of Class A common stock is applicable only for the period from May 24, 2018 through December 31, 2018, which is the period following the Reorganization Transactions and IPO. Prior to the Reorganization Transactions and IPO, GreenSky, Inc. did not engage in any business or other activities except in connection with its formation and initial capitalization. See Note 1 for further information on our organization and see Note 2 for further information on our earnings per share.
(1) Year-to-date results may not agree to the sum of individual quarterly results due to rounding.
Table:
 |  |  | Year Ended December 31, 2019 |  | 
 | First
Quarter | Second Quarter | Third Quarter | Fourth Quarter | Total
Total revenue | $103,700 | $138,695 | $153,415 | $133,836 | $529,646
Cost of revenue (exclusive of depreciation and
amortization) | 58,037 | 56,228 | 64,957 | 69,358 | 248,580
Total costs and expenses | 92,212 | 92,189 | 101,017 | 123,275 | 408,693
Operating profit | 11,488 | 46,506 | 52,398 | 10,561 | 120,953
Total other income (expense), net | (4,682) | (11,779) | (6,790) | (8,854) | (32,105)
Income before income tax expense (benefit) | 6,806 | 34,727 | 45,608 | 1,707 | 88,848
Net income | 7,401 | 39,193 | 44,075 | 5,304 | 95,973
Less: Net income attributable to noncontrolling
interests | 4,502 | 26,877 | 29,349 | 3,265 | 63,993
Net income attributable to GreenSky, Inc. | 2,899 | 12,316 | 14,726 | 2,039 | 31,980
Earnings per share of Class A common stock: |  |  |  |  | 
Basic | $0.05 | $0.20 | $0.24 | $0.03 | $0.52
Diluted(1) | $0.05 | $0.19 | $0.23 | $0.03 | $0.49


Question: What was the percentage change in the basic earnings per share of Class A common stock between the first and second quarter?
Answer: 300
Calculation: (0.20-0.05)/0.05
BOOKINGS
The following table shows new orders levels for 2019 and the backlog for 2018:
The backlog includes orders for which purchase orders or letters of intent have been accepted, typically for up to one year. Historically, orders have been subject to cancellation or rescheduling by customers. In addition, orders have been subject to price negotiations and changes in specifications as a result of changes in customers’ requirements. Due to possible customer changes in delivery schedules and requirements, and to cancellations of orders, our backlog at any particular date is not necessarily indicative of actual sales for any subsequent period.
For the year in total, our new bookings increased by 24% in 2019 to €1,170 million, excluding the proceeds from the settlements. The book-to-bill, as measured by orders divided by revenue, was 1.0 in 2019. Equipment bookings were led by the foundry segment, followed by logic and memory. Bookings strengthened in the course of the year, excluding the settlement gains, from €235 million in the first quarter to €270 million in the second quarter, €292 million in the third quarter and finished at a new record high of €373 million in the fourth quarter. We also finished the year with a record high order backlog of €351 million, an increase of 16% compared to the end of 2018.
Table:
 |  | Year ended December 31, | 
(EUR million) | 2018 | 2019 | % Change
Backlog at the beginning of the year | 176.3 | 301.5 | 71%
New orders | 942.1 | 1,328.9 | 41%
Revenue | (818.1) | (1,283.9) | 57%
FX-effect | 6.3 | 4.7 | 
Adjustment IFRS 15 | (5.1) | – | 
Backlog as per reporting date | 301.5 | 351.2 | 16%
Book-to-bill ratio (new orders divided by net sales) | 1.2 | 1.0 | 


Question: What does the table show?
Answer: new orders levels for 2019 and the backlog for 2018
NAVIOS MARITIME HOLDINGS INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Expressed in thousands of U.S. dollars — except share data)
Chartered-out vessels, barges and pushboats:
The future minimum revenue, net of commissions, (i) for dry bulk vessels, expected to be earned on non-cancelable time charters; and (ii) for the Company’s logistics business, expected to be earned on non-cancelable time charters, COA’s with minimum guaranteed volumes and contracts with minimum guaranteed throughput in Navios Logistics’ ports expected to be earned on non-cancelable time charters, are as follows:
Revenues from time charters are not generally received when a vessel is off-hire, which includes time required for scheduled maintenance of the vessel.
Table:
 | Dry bulk vessels | Logistics business
2020 | 22,266 | 129,437
2021 | 4,607 | 97,544
2022 | 3,445 | 75,425
2023 | — | 69,250
2024 | — | 60,200
2025 and thereafter | — | 642,479
Total minimum revenue, net of commissions | $30,318 | $1,074,335


Question: What was the Total minimum revenue, net of commissions for dry bulk vessels?
Answer: 30,318
The following is a reconciliation of the federal statutory income tax rate to the effective income tax rates reflected in the Consolidated Statements of Comprehensive Income for fiscal 2019, 2018 and 2017:
The effective tax rate for fiscal 2019 was lower than the effective tax rate for fiscal 2018 primarily due to the impact of the U.S. Tax Cuts and Jobs Act (“Tax Reform”) that was recorded in fiscal 2018. During fiscal 2019, the Company reasserted that certain historical undistributed earnings of two foreign subsidiaries will be permanently reinvested which provided a $10.5 million benefit to the effective tax rate. The impact of the changes in the Company's assertion has been included in "Withholding tax on dividends" in the effective income tax reconciliation above. The reduction to the effective tax rate compared to fiscal 2018 was offset by an increase due to the GILTI provisions of Tax Reform in fiscal 2019. The GILTI impact in the table above includes the deduction allowed by the regulations as well as the foreign tax credits attributed to GILTI. The Company has elected to treat the income tax effects of GILTI as a period cost. The effective tax rate for fiscal 2018 was higher than the effective tax rate for fiscal 2017 primarily due to expenses related to Tax Reform.
During fiscal 2019, the Company recorded a $1.9 million increase to its valuation allowance due to continuing losses in certain jurisdictions within the AMER and EMEA segments, partially offset by an expiration of net operating losses that had a valuation allowance recorded.
During fiscal 2018, the Company recorded a $32.9 million reduction to its valuation allowance which includes $9.7 million related to the U.S. federal tax rate change as part of Tax Reform from 35% to 21%, $21.0 million of carryforward credits and net operating losses utilized against the deemed repatriation of undistributed foreign earnings and $3.6 million for the release of the U.S. valuation allowance due to the expected future U.S. taxable income related to the GILTI provisions of Tax Reform. These benefits were partially offset by a $1.4 million increase in foreign valuation allowances in the EMEA segment.
During fiscal 2017, the Company recorded a $14.9 million addition to its valuation allowance relating to continuing losses in certain jurisdictions within the AMER and EMEA segments.
Table:
 | 2019 | 2018 | 2017
Federal statutory income tax rate | 21.0 % | 24.5 %  | 35.0 %
Increase (decrease) resulting from:       |  |  | 
Foreign tax rate differences | (21.0) | (30.2) | (39.9)
Withholding tax on dividends  | (5.4) | 23.7 | —
Permanent differences  | (1.3) | 0.8 | 3.0
Excess tax benefits related to share-based compensation  | (1.3) | (2.7) | (2.0)
Global intangible low-taxed income ("GILTI")  | 11.7 | — | —
Deemed repatriation tax  | 5.6 | 92.2 | —
Non-deductible compensation | 1.5 | 0.2 | 0.2
Valuation allowances  | 1.5 | (30.6) | 12.2
Rate changes  | — | 9.0 | —
Other, net  | 1.5 | 1.0 | (0.5)
Effective income tax rate | 13.8 %  | 87.9 %  | 8.0 %


Question: What was the change in the increase resulting from permanent differences between 2017 and 2018?
Answer: -2.2
Calculation: 0.8-3.0
H. Net Income Per Share
Basic net income per share is computed by dividing net income by the weighted-average number of common stock outstanding during the period. Diluted net income per share is computed by dividing net income by the weighted-average number of common stock outstanding and potentially dilutive securities outstanding during the period, as calculated using the treasury stock method. Potentially dilutive securities primarily include unvested restricted stock units (“RSUs”), including PSU awards, and stock options, including purchase options under VMware’s employee stock purchase plan, which included Pivotal’s employee stock purchase plan through the date of acquisition. Securities are excluded from the computation of diluted net income per share if their effect would be anti-dilutive. VMware uses the two-class method to calculate net income per share as both classes share the same rights in dividends; therefore, basic and diluted earnings per share are the same for both classes.
The following table sets forth the weighted-average common share equivalents of Class A common stock that were excluded from the diluted net income per share calculations during the periods presented because their effect would have been anti-dilutive (shares in thousands):
Table:
 | For the Year Ended |  | 
 | January 31, 2020 | February 1, 2019 | February 2, 2018
Anti-dilutive securities: |  |  | 
Employee stock options | 34 | 50 | 51
Restricted stock units | 315 | 255 | 140
Total | 349 | 305 | 191


Question: Which years does the table provide information for the weighted-average common share equivalents of Class A common stock that were excluded from the diluted net income per share calculations?
Answer: 2020, 2019, 2018
C) DIVIDENDS
For the year ended August 31, 2019, quarterly eligible dividends of $0.525 per share, for a total of $2.10 per share or $103.7 million, were paid to the holders of multiple and subordinate voting shares, compared to quarterly eligible dividends of $0.475 per share, for a total of $1.90 per share or $93.7 million for the year ended August 31, 2018.
At its October 30, 2019 meeting, the Board of Directors of Cogeco Communications declared a quarterly eligible dividend of $0.58 per share for multiple voting and subordinate voting shares, payable on November 27, 2019 to shareholders of record on November 13, 2019.
Table:
Years ended August 31, | 2019 | 2018
(In thousands of Canadian dollars) | $ | $
Dividends on multiple voting shares | 32,951 | 29,813
Dividends on subordinate voting shares | 70,757 | 63,886
 | 103,708 | 93,699


Question: What was the eligible quarterly dividends in August 2018?
Answer: $0.475
part a0ii item a05 . market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities our common stock is listed on the new york stock exchange under the symbol 201ctfx . 201d as of february 19 , 2019 , we had 473 holders of record of our common stock . a substantially greater number of holders of our common stock are beneficial owners whose shares are held by brokers and other financial institutions for the accounts of beneficial owners . stock performance graph the following graph provides a comparison of five year cumulative total stockholder returns of teleflex common stock , the standard a0& poor 2019s ( s&p ) 500 stock index and the s&p 500 healthcare equipment & supply index . the annual changes for the five-year period shown on the graph are based on the assumption that $ 100 had been invested in teleflex common stock and each index on december a031 , 2013 and that all dividends were reinvested . market performance .

Table:
company / index | 2013 | 2014 | 2015 | 2016 | 2017 | 2018
teleflex incorporated | 100 | 124 | 143 | 177 | 275 | 288
s&p 500 index | 100 | 114 | 115 | 129 | 157 | 150
s&p 500 healthcare equipment & supply index | 100 | 126 | 134 | 142 | 186 | 213
s&p 500 healthcare equipment & supply index 100 126 134 142 186 213 .

Question: what is the roi of an investment in teleflex incorporated from 2014 to 2015?
Answer: 15.3%
Calculation: subtract(143, 124), divide(#0, 124)