hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
GreenSky, Inc. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued) (United States Dollars in thousands, except per share data, unless otherwise stated)
Note 3. Fair Value of Assets and Liabilities
The following table summarizes, by level within the fair value hierarchy, the carrying amounts and estimated fair values of our assets and liabilities measured at fair value on a recurring or nonrecurring basis or disclosed, but not carried, at fair value in the Consolidated Balance Sheets as of the dates presented. There were no transfers into, out of, or between levels within the fair value hierarchy during any of the periods presented. Refer to Note 4, Note 7, Note 8, and Note 9 for additional information on these assets and liabilities.
(1) Disclosed, but not carried, at fair value.
(2) Measured at fair value on a nonrecurring basis.
(3) Measured and carried at fair value on a recurring basis.
Table:
 |  | December 31, 2019 |  | December 31, 2018 | 
 | Level | Carrying Value | Fair Value | Carrying Value | Fair Value
Assets: |  |  |  |  | 
Cash and cash equivalents(1) | 1 | $195,760 | $195,760 | $303,390 | $303,390
Loan receivables held for sale, net(2) | 2 | 51,926 | 55,958 | 2,876 | 3,552
Servicing assets(3) | 3 | 30,459 | 30,459 | — | —
Liabilities: |  |  |  |  | 
Finance charge reversal liability(3) | 3 | $206,035 | $206,035 | $138,589 | $138,589
Term loan(1) | 2 | 384,497 | 392,201 | 386,822 | 386,234
Interest rate swap(3) | 2 | 2,763 | 2,763 | — | —
Servicing liabilities(3) | 3 | 3,796 | 3,796 | 3,016 | 3,016


Question: What was the fair value of the interest rate swap in 2019?
Answer: 2,763
Deferred income taxes arise from temporary differences between the tax basis of assets and liabilities and their reported amounts in the financial statements. A summary of the tax effect of the significant components of deferred income taxes is as follows (in thousands):
At December 31, 2019, we had state and foreign net operating losses of approximately $12.2 million and $7.9 million, respectively. The state net operating losses expire beginning 2027 through 2038. We recorded a full valuation allowance against the foreign net operating losses and a partial valuation allowance against the state net operating losses, as we do not believe those losses will be fully utilized in the future.
Table:
December 31, |  | 
 | 2019 | 2018
Goodwill and other intangibles | $136,882 | $114,532
Lease arrangements | 31,128 | —
Property and equipment | 13,270 | 8,168
Unbilled receivables - IRC Section 481(a) | 5,878 | 8,816
Gross deferred tax liabilities | 187,158 | 131,516
Lease obligations | (34,146) | —
Retirement and other liabilities | (18,614) | (20,707)
Allowance for potential contract losses and other contract reserves | (2,205) | (1,681)
Foreign and state operating loss carryforwards | (2,239) | (1,709)
Less: Valuation allowance | 1,828 | 1,537
Gross deferred tax assets | (55,376) | (22,560)
Net deferred tax liabilities | $131,782 | $108,956


Question: What is the proportion of the sum of lease arrangements and unbilled receivables over gross deferred tax liabilities on December 31, 2019?
Answer: 0.2
Calculation: (31,128+ 5,878)/187,158
NOTE 17. FINANCIAL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT
FINANCIAL INSTRUMENTS
Financial instruments include:
The carrying amounts of cash and cash equivalents, accounts receivable and accounts payable equal their fair values because of the short-term nature of these instruments.
Table:
 | December 31, | 
 | 2018 | 2019
Financial assets: |  | 
Cash and cash equivalents | 285,907 | 497,874
Accounts receivable | 173,450 | 199,535
Financial liabilities: |  | 
Accounts payable | 80,640 | 119,712


Question: What is the Accounts payable for 2019?
Answer: 119,712
Unrecognized Tax Benefits
The Company operates in multiple jurisdictions throughout the world and the income tax returns of its subsidiaries in various jurisdictions are subject to periodic examination by the tax authorities. The Company regularly assesses the status of these  examinations and the various outcomes to determine the adequacy of its provision for income taxes. The amount of gross unrecognized tax benefits totaled $3.1 million and $1.4 million at April 27, 2019 and April 28, 2018, respectively. These amounts represent the amount of unrecognized benefits that, if recognized, would favorably impact the effective tax rate if resolved in the Company’s favor.
The following table presents a reconciliation of the beginning and ending amounts of unrecognized tax benefits:
At April 27, 2019, it is not possible to reasonably estimate the expected change to the total amount of unrecognized tax benefits in the next twelve months.
The U.S. federal statute of limitations remains open for fiscal years ended on or after 2016 and for state tax purposes on or after fiscal year 2013. Tax authorities may have the ability to review and adjust net operating losses or tax credits that were generated prior to these fiscal years. In the major foreign jurisdictions, fiscal 2012 and subsequent periods remain open and subject to examination by taxing authorities.
The continuing practice of the Company is to recognize interest and penalties related to income tax matters in the provision for income taxes. The Company had $0.1 million accrued for interest and no accrual for penalties at April 27, 2019.
Table:
(Dollars in Millions) | April 27, 2019 | April 28, 2018
Balance at Beginning of Fiscal Year | $1.4 | $1.3
Increases for Positions Related to the Prior Years | 1.8 | —
Increases for Positions Related to the Current Year | 0.9 | 0.1
Decreases for Positions Related to the Prior Years | — | —
Lapsing of Statutes of Limitations | (1.0) | —
Balance at End of Fiscal Year | $3.1 | $1.4


Question: What was the change in the Balance at Beginning of Fiscal Year from 2018 to 2019?
Answer: 0.1
Calculation: 1.4 - 1.3
Gross Profit. Gross profit increased 15%, or $144.4 million, in 2019 compared to 2018, with gross margin increasing approximately 70 basis points to 14.7% of net sales. Our gross profit and gross profit as a percent of net sales by operating segment for 2019 and 2018 were as follows (dollars in thousands):
North America’s gross profit in 2019 increased 19% compared to 2018, and as a percentage of net sales, gross margin increased by approximately 80 basis points year over year. The year over year net increase in gross margin was primarily attributable to the following:
• A net increase in product margin, which includes partner funding and freight, of 30 basis points year over year. This increase was due primarily to improvements in hardware and software product margin partially as a result of improvements in core business margins on product net sales and also as a result of PCM.
• Services margin improvement year over year of 50 basis points was generated from increased vendor funding, cloud solution offerings and referral fees. In addition, there was a 21 basis point improvement in margins from Insight delivered services.
EMEA’s gross profit in 2019 increased 3% (increased 8% excluding the effects of fluctuating foreign currency exchange rates), compared to 2018. As a percentage of net sales, gross margin increased by approximately 40 basis points year over year.
APAC’s gross profit in 2019 increased 1% (increased 6% excluding the effects of fluctuating foreign currency exchange rates), compared to 2018, with gross margin increasing to 22.1% in 2019 from 21.2% in 2018. The improvement in gross margin for both EMEA and APAC in 2019 compared to 2018 was due primarily to changes in sales mix to higher margin products and services.
Table:
 | 2019 | % of Net
Sales | 2018 | % of Net Sales
NorthAmerica | $ 871,114 | 14.5% | $732,695 | 13.7%
EMEA | $227,083 | 14.9% | $221,467 | 14.5%
APAC | $39,901 | 22.1% | $39,556 | 21.2%
Consolidated | $1,138,098 | 14.7% | $993,718 | 14.0%


Question: What is the average Net sales of North America for 2018 and 2019?
Answer: 801904.5
Calculation: (871,114+732,695) / 2
Note 22. Supplemental Financial Information
Cash paid for income taxes amounted to $77.6 million, $25.9 million and $48.4 million during fiscal 2019, 2018 and 2017, respectively. Cash paid for interest on borrowings amounted to $347.9 million, $85.3 million and $82.5 million during fiscal 2019, 2018 and 2017, respectively.
A summary of additions and deductions related to the valuation allowance for deferred tax asset accounts for the years ended March 31, 2019, 2018 and 2017 follows (amounts in millions):
Table:
 | Balance at Beginning of Year | Additions Charged to Costs and Expenses | Additions Charged to Other Accounts | Deductions | Balance at End of Year
Valuation allowance for deferred tax assets: |  |  |  |  | 
Fiscal 2019 | $204.5 | $16.2 | $175.8 | $(64.4) | $332.1
Fiscal 2018 | $210.1 | $36.2 | $— | $(41.8) | $204.5
Fiscal 2017 | $161.8 | $15.2 | $37.6 | $(4.5) | $210.1


Question: Which years does the table provide information for the additions and deductions related to the valuation allowance for deferred tax asset accounts?
Answer: 2019, 2018, 2017
Fair Value Disclosures
Under the fair value standards fair value is based on the exit price and defined as the price that would be received to sell an asset or transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement should reflect all the assumptions that market participants would use in pricing an asset or liability. A fair value hierarchy is established in the authoritative guidance outlined in three levels ranking from Level 1 to level 3 with Level 1 being the highest priority.
Level 1: observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets
Level 2: inputs other than quoted prices included in Level 1 that are observable for the asset or liability either directly or indirectly
Level 3: unobservable inputs (e.g., a reporting entity’s or other entity’s own data)
The Company had no assets or liabilities measured at fair value on a recurring (except our pension plan assets, see Note 15) or
non-recurring basis as of September 30, 2019 or September 30, 2018.
To estimate fair value of the financial instruments below quoted market prices are used when available and classified within Level 1. If this data is not available, we use observable market based inputs to estimate fair value, which are classified within Level 2. If the preceding information is unavailable, we use internally generated data to estimate fair value which is classified within Level 3.
Cash and cash equivalents
Carrying amount approximated fair value
Accounts and long term receivable with original maturity over one year
Fair value was estimated by discounting future cash flows based on the current rate with similar terms.
Note payable
Fair value was estimated based on quoted market prices.
Fair value of accounts receivable with an original maturity of one year or less and accounts payable was not materially different from their carrying values at September 30, 2019, and 2018.
Table:
 | As of September 30, 2019 |  | As of September 30, 2018 |  |  | 
 | Carrying amount | Fair value | Carrying amount | Fair value | Fair Value Level | References
 |  | (Amounts in thousands) |  |  |  | 
Assets: |  |  |  |  |  | 
Cash and cash equivalents | $18,099 | $18,099 | $25,107 | $25,107 | 1 | Consolidated Balance SSheets
Accounts & long term receivable* | 7,087 | 7,087 | - | - | 3 | Note 3
Liabilities: |  |  |  |  |  | 
Note payable | 1,001 | 1,001 | - | - | 2 | Note 11
*Original maturity over one year |  |  |  |  |  | 


Question: What does a Level 1 fair value hierarchy refer to?
Answer: observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets
Australian taxes paid summary
Tax payments made by iSelect for the 2019 and 2018 financial years are summarised below.
Table:
 | CONSOLIDATED | 2018
 | 2019 $'000 | 2018 $’000
Income tax (net of refund) | (2,327) | 172
Payroll tax | 2,657 | 3,035
Fringe benefits tax | 205 | 247
Total taxes paid | 535 | 3,454


Question: What is the percentage change in the total taxes paid from 2018 to 2019?
Answer: -84.51
Calculation: (535-3,454)/3,454
equity compensation plan information the following table presents the equity securities available for issuance under our equity compensation plans as of december 31 , 2013 . equity compensation plan information plan category number of securities to be issued upon exercise of outstanding options , warrants and rights ( 1 ) weighted-average exercise price of outstanding options , warrants and rights ( 2 ) number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) ( a ) ( b ) ( c ) equity compensation plans approved by security holders 2956907 $ 35.01 2786760 equity compensation plans not approved by security holders ( 3 ) 2014 2014 2014 .

Table:
plan category | number of securities to be issued upon exercise of outstanding options warrants and rights ( 1 ) ( a ) ( b ) | weighted-average exercise price of outstanding optionswarrants and rights ( 2 ) | number of securities remaining available for future issuance under equity compensation plans ( excluding securitiesreflected in column ( a ) ) ( c )
equity compensation plans approved by security holders | 2956907 | $ 35.01 | 2786760
equity compensation plans not approved by security holders ( 3 ) | 2014 | 2014 | 2014
total | 2956907 | $ 35.01 | 2786760
( 1 ) includes grants made under the huntington ingalls industries , inc .
2012 long-term incentive stock plan ( the "2012 plan" ) , which was approved by our stockholders on may 2 , 2012 , and the huntington ingalls industries , inc .
2011 long-term incentive stock plan ( the "2011 plan" ) , which was approved by the sole stockholder of hii prior to its spin-off from northrop grumman corporation .
of these shares , 818723 were subject to stock options , 1002217 were subject to outstanding restricted performance stock rights , 602400 were restricted stock rights , and 63022 were stock rights granted under the 2011 plan .
in addition , this number includes 24428 stock rights and 446117 restricted performance stock rights granted under the 2012 plan , assuming target performance achievement .
( 2 ) this is the weighted average exercise price of the 818723 outstanding stock options only .
( 3 ) there are no awards made under plans not approved by security holders .
item 13 .
certain relationships and related transactions , and director independence information as to certain relationships and related transactions and director independence will be incorporated herein by reference to the proxy statement for our 2014 annual meeting of stockholders to be filed within 120 days after the end of the company 2019s fiscal year .
item 14 .
principal accountant fees and services information as to principal accountant fees and services will be incorporated herein by reference to the proxy statement for our 2014 annual meeting of stockholders to be filed within 120 days after the end of the company 2019s fiscal year. .

Question: what is the combined number of equity compensation plans approved by security holders
Answer: 5743667
Calculation: add(2956907, 2786760)
13. Stock-Based Compensation:
Under the 2014 RSU Plan, we may grant restricted stock units of up to an aggregate of 3,000 units. Each unit converts to one share of the Company’s stock at the
time of vesting. The fair value of RSU awards is determined at the closing market price of the Company’s common stock at the date of grant. For the years ended March
31, 2018 and 2019, there were 292 and 315 awards, respectively, granted from this plan. Restricted stock activity during the year ended 2019 is as follows:
Performance-based awards vest one year after the grant date. Service-based awards vest as to one-third annually with the requisite service periods beginning on
the grant date. Awards are amortized over their respective grade-vesting periods. The total unrecognized compensation costs related to unvested stock awards expected
to be recognized over the vesting period, approximately three years, was $1,476 at March 31, 2019.
We have four fixed stock option plans. Under the 2004 Stock Option Plan, as amended, we may grant options to employees for the purchase of up to an aggregate
of 10,000 shares of common stock. Under the 2004 Non-Employee Directors’ Stock Option Plan, as amended, we may grant options for the purchase of up to an
aggregate of 1,000 shares of common stock. No awards were made under these two plans after August 1, 2013. Under the 2014 Stock Option Plan, we can grant options
to employees for the purchase of up to an aggregate of 10,000 shares of common stock. Under the 2014 Non-Employee Directors’ Stock Option Plan, as amended, we can
grant options to our directors for the purchase of up to an aggregate of 1,000 shares of common stock. Under all plans, the exercise price of each option shall not be less
than the market price of our stock on the date of grant and an option’s maximum term is 10 years. Options granted under the 2004 Stock Option Plan and the 2014 Stock
Option Plan vest as to 25% annually and options granted under the 2004 Non-Employee Directors’ Stock Option Plan and the 2014 Non-Employee Director’s Stock
Option Plan vest as to one-third annually. Requisite service periods related to all plans begin on the grant date. As of March 31, 2019, there were 12,447 shares of
common stock available for future issuance under all of the plans, consisting of options available to be granted and options currently outstanding.
Table:
 | March 31, 2019 | 
 | Number of shares | Weighted-Average Grant Date Fair Value per Share
Non-vested at March 31, 2018 | 358 | $16.27
Granted | 315 | 15.28
Vested | (172) | 16.27
Cancelled and forfeited | (68) | 16.27
Non-vested at March 31, 2019 | 433 | $15.55


Question: What is the total unrecognised compensation costs related to unvested stock awards as a percentage of the value of nonvested shares at March 31, 2019? 
Answer: 21.92
Calculation: 1,476/ (433 * 15.55)
Figure 31. 2019/2021 LTIP Award Grants
(1) The number of Market-based PRSUs awarded is reflected at target. The final number of shares that may be earned will be 0% to 150% of target.
(2) Mr. Anstice did not participate in the 2019/2021 LTIP because he terminated his employment with the Company as of December 5, 2018.
The independent members of the Board consulted with the committee and the committee’s compensation consultant to determine the appropriate amount and vesting schedule for Mr. Archer’s award. The independent members of the Board, on December 6, 2018, granted to Mr. Archer a $5,000,000 equity award consisting of 50% service-based RSUs and 50% stock options with a four-year vesting schedule, as shown below. No adjustment was made at that time to his annual base salary or his target award opportunities under the AIP or LTIP. These were adjusted to be competitive with CEOs in our peer group as part of the normal annual compensation review in February 2019.
In light of Mr. Bettinger’s critical role, his expanded responsibilities, and the intense competition in the technology industry for proven CFO talent, he received a special equity award on November 30, 2018. The committee consulted with its compensation consultant and with the Board to determine the amount and vesting schedule for the award. The committee granted to Mr. Bettinger a one-time service-based restricted stock unit (RSU) award with a nominal value of $8,000,000 and a four-year vesting schedule, as shown below.
Table:
Named Executive Officer (1)(2) | Target Award Opportunity ($) | Market-based PRSUs Award (#) | Stock Options Award (#) | Service-based RSUs Award (#)
Timothy M. Archer | 7,200,000 | 21,243 | 33,988 | 12,746
Douglas R. Bettinger | 2,700,000 | 7,966 | 12,744 | 4,779
Richard A. Gottscho | 2,250,000 | 6,638 | 10,620 | 3,983
Patrick J. Lord | 1,800,000 | 5,310 | 8,496 | 3,186
Vahid Vahedi | 1,575,000 | 4,647 | 7,432 | 2,788
Seshasayee (Sesha) Varadarajan | 1,575,000 | 4,647 | 7,432 | 2,788


Question: Why did Mr Anstice not participate in the 2019/2021 LTIP?
Answer: he terminated his employment with the Company as of December 5, 2018
Dividends
The following table shows our total cash dividends paid in the years ended December 31:
On February 13, 2020, our Board of Directors declared a quarterly cash dividend of $0.16 per common share payable on March 20, 2020 to stockholders of record at the close of business on March 6, 2020. The estimated amount of this dividend payment is $24.8 million based on 154.7 million shares of our common stock issued and outstanding as of February 21, 2020.
The dividend payments discussed above are recorded as reductions to cash and cash equivalents and retained earnings on our Consolidated Balance Sheets. Our credit facility and our senior notes contain covenants that restrict our ability to declare or pay dividends and repurchase stock. However, we do not believe these covenants are likely to materially limit the future payment of quarterly cash dividends on our common stock. From time to time, we may consider other means of returning value to our stockholders based on our consolidated financial condition and results of operations. There is no guarantee that our Board of Directors will declare any further dividends.
Table:
(In millions, except per share amounts) | Total Cash Dividends Paid | Total Cash Dividends Paid Per Common Share
2017 | $119.7 | $0.64
2018 | 102.9 | 0.64
2019 | 99.1 | 0.64
Total | $321.7 | 


Question: Including the declared quarterly cash dividend on February 13, 2020, what is the Total Cash Dividends Paid as of February 21, 2020 in dollars?
Answer: 346.5
Calculation: 321.7+24.8
Effective Income Tax Rate
A reconciliation of the United States federal statutory income tax rate to our effective income tax rate is as follows:
In 2019 and 2018 we had pre-tax losses of $19,573 and $25,403, respectively, which are available for carry forward to offset future taxable income. We made determinations to provide full valuation allowances for our net deferred tax assets at the end of 2019 and 2018, including NOL carryforwards generated during the years, based on our evaluation of positive and negative evidence, including our history of operating losses and the uncertainty of generating future taxable income that would enable us to realize our deferred tax.
Table:
 | Year Ended | Year Ended
 | December 31, 2018 | December 31, 2019
United States federal statutory rate | 21.00% | 21.00%
State taxes, net of federal benefit | 1.99% | (0.01)%
Valuation allowance | (21.96)% | (24.33)%
Cumulative effect of accounting change | — | 2.07%
R&D Credit | 1.34% | 1.53%
Other | (0.38)% | (0.27)%
Effective income tax rate | 1.99% | (0.01)%


Question: What was the R&D Credit in 2019?
Answer: 1.53%