hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
3 Investments
The investment in Sophos Holdings Limited, a holding company for the Sophos Group, comprises 100% of the ordinary share capital.
The investment in Sophos Limited comprises share-based payment expenses for equity awards granted to participants employed by Sophos Limited and its subsidiaries.
Table:
 | 31 March 2019 | 31 March 2018
 | $M | $M
Investment in Sophos Holdings Limited | 1,035.8 | 1,035.8
Investment in Sophos Limited | 94.8 | 63.3
At 31 March | 1,130.6 | 1,099.1


Question: What are the different investments listed in the table?
Answer: Investment in Sophos Holdings Limited, Investment in Sophos Limited
The Company’s pension plan asset allocation at December 31, 2019 and at December 31, 2018 is as follows:
As of December 31, 2019, investments in funds were composed of commingled and multi-strategy funds invested in diversified portfolios of corporate bonds (37%), government bonds (32%), equity (15%) and other instruments (16%).
As of December 31, 2018, investments in funds were composed approximately for two thirds of commingled funds mainly invested in corporate bonds (55%) and treasury bonds and notes (45%) and for one third of multi-strategy funds invested in broadly diversified portfolios of
corporate and government bonds, equity and derivative instruments.
Table:
 | Percentage of Plan Assets at December | 
Asset Category | 2019 | 2018
Cash and cash equivalents | 1% | 2%
Equity securities | 24% | 27%
Government debt securities | 12% | 3%
Corporate debt securities | 16% | 26%
Investments in funds(a) | 21% | 17%
Real estate | 2% | 3%
Other (mainly insurance assets – contracts and reserves) | 24% | 22%
Total | 100% | 100%


Question: What was the increase / (decrease) in the Real estate from 2018 to 2019?
Answer: -1
Calculation: 2% - 3%
RESEARCH AND DEVELOPMENT EXPENSES
Total research and development (R&D) expenses, excluding impairment charges, increased by 22% in 2019 compared to the previous year, mainly as a result of higher development activities. As a percentage of sales (excluding the patent litigation & arbitration settlement), R&D expenses decreased to 10% compared to 11% in 2018. Currency changes resulted in a 4% increase in R&D expenses year-over-year.
Total research and development expenses developed as follows:
Impairment of capitalized development expenses related primarily to the development of new technology that is now no longer in-demand from customers.
We continue to invest strongly in R&D. As part of our R&D activities, we are engaged in various development programs with customers and research institutes. These allow us to develop products that meet customer requirements and obtain access to new technology and expertise. The costs relating to prototypes and experimental models, which we may subsequently sell to customers, are charged to the cost of sales.
Our R&D operations in the Netherlands, Belgium, and the United States receive research and development grants and credits from various sources.
Table:
Year ended December 31, |  |  | 
(EUR million) | 2018 | 2019 | % Change
Front-end: |  |  | 
Research and development expenses | 125.3 | 150.7 | 20%
Capitalization of development expenses | (49.7) | (60.2) | 21%
Research and development grants and credits | (0.3) | – | –
Amortization of capitalized development  expenses | 12.0 | 15.6 | 30%
 | 87.3 | 106.1 | 22%
Impairment capitalized development expenses | 1.3 | 4.8 | –
Total | 88.6 | 110.8 | 25%


Question: What is the change in total research and development expenses from 2018 to 2019?
Answer: 22.2
Calculation: 110.8-88.6
ADVANCED ENERGY INDUSTRIES, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (continued) (in thousands, except per share amounts)
NOTE 6. EARNINGS PER SHARE
Basic earnings per share (“EPS”) is computed by dividing income available to common stockholders by the weighted-average number of common shares outstanding during the period. The computation of diluted EPS is similar to the computation of basic EPS except that the denominator is increased to include the number of additional common shares that would have been outstanding (using the if-converted and treasury stock methods), if our outstanding stock options and restricted stock units had been converted to common shares, and if such assumed conversion is dilutive.
The following is a reconciliation of the weighted-average shares outstanding used in the calculation of basic and diluted earnings per share for the years ended December 31, 2019, 2018 and 2017:
Table:
 |  | Years Ended December 31, | 
 | 2019 | 2018 | 2017
Income from continuing operations | $56,495 | $147,149 | $136,101
Income from continuing operations attributable to noncontrolling interest | 34 | 86 | —
Income from continuing operations attributable to Advanced Energy Industries, Inc. | $56,461 | $147,063 | $136,101
Basic weighted-average common shares outstanding | 38,281 | 39,081 | 39,754
Assumed exercise of dilutive stock options and restricted stock units | 214 | 271 | 422
Diluted weighted-average common shares outstanding | 38,495 | 39,352 | 40,176
Continuing operations: |  |  | 
Basic earnings per share | $ 1.47 | $ 3.76 | $  3.42
Diluted earnings per share | $ 1.47 | $ 3.74 | $  3.39


Question: What was the change in Assumed exercise of dilutive stock options and restricted stock units between 2018 and 2019?
Answer: -57
Calculation: 214-271
Year ended December 31, 2018 compared with the year ended December 31, 2017:
Revenue in 2018 is derived from multiple license agreements that we entered into with third-parties following negotiations pursuant to our patent licensing and enforcement program. The revenue increase is primarily due to licensing revenues, as further described in "Item 1. Business" - "Licensing and Enforcement - Current Activities, Post 2013".
Cost of revenues includes contingent legal fees directly associated with our licensing and enforcement programs. Cost of revenues increased largely in proportion to increase in revenues.
Selling, general and administrative expenses ("SG&A") consisted primarily of legal fees incurred in operations and employee headcount related expenses. These comprise approximately 74% of total SG&A expense. Litigation expenses increased $4.2 million to $16.5 million in 2018 compared to 2017 and are primarily due to the timing of various outstanding litigation actions. See "Item 3. Legal Proceedings". Employee headcount related expenses increased $1.8 million to $7.2 million in 2018 compared to 2017, and is primarily due to incentive bonuses earned during the year. The balance of SG&A expenses include consulting, other professional services, facilities and other administrative fees and expenses.
Research and Development expenses ("R&D") are primarily from our Finjan Mobile security business and increased by $0.6 million to $2.1 million in 2018 compared to 2017, as we continue to position this business for future growth.
Other income (expense) is primarily due to changes in the fair value of the warrant liability of $3.4 million in 2018 versus a benefit of $2.2 million in 2017, and interest expense of $0.6 million in 2018, net.
We recognized an income tax expense of $8.1 million on pre-tax income of $28.7 million in 2018 as compared to a benefit from the reduction in the valuation allowance of $6.2 million in 2017.
Table:
 |  | For the Year Ended December 31, |  | 
 | 2018 | 2017 | Change | % Change
 |  | (In millions, except percentages) |  | 
Revenues | $82.3 | $50.5 | $31.8 | 63%
Cost of revenues | 15.3 | 6.0 | 9.3 | 155%
Gross profit | 67.0 | 44.5 | 22.5 | 51%
Gross margin | 81% | 88% |  | 
Operating expenses: |  |  |  | 
Selling, general and administrative | 32.2 | 28.6 | 3.6 | 13%
Research and development | 2.1 | 1.5 | 0.6 | 40%
Total operating expenses | 34.3 | 30.1 | 4.2 | 14%
Other income (expense) | (4.0) | 2.2 | (6.2) | (282)%
Income before income taxes | 28.7 | 16.6 | 12.1 | 73%
Income tax provision (benefit) | 8.0 | (6.2) | 14.2 | (229)%
Net income | $20.7 | $22.8 | $(2.1) | (9)%


Question: What is the value of pre-tax income as a percentage of revenues in 2018?
Answer: 34.87
Calculation: 28.7/82.3
In connection with the asset-backed securitization programs, the Company recognized the following (in millions):
(1) The amounts primarily represent proceeds from collections reinvested in revolving-period transfers.
(2) Recorded to other expense within the Consolidated Statements of Operations.
(3) Excludes $650.3 million of trade accounts receivable sold, $488.1 million of cash and $13.9 million of net cash received prior to the amendment of the foreign asset-backed securitization program and under the previous North American asset-backed securitization program.
The asset-backed securitization programs require compliance with several covenants. The North American asset-backed securitization program covenants include compliance with the interest ratio and debt to EBITDA ratio of the five-year unsecured credit facility amended as of November 8, 2017 (“the 2017 Credit Facility”). The foreign asset-backed securitization program covenants include limitations on certain corporate actions such as mergers and consolidations. As of August 31, 2019 and 2018, the Company was in compliance with all covenants under the asset-backed securitization programs.
Table:
 |  | Fiscal Year Ended August 31, | 
 | 2019(3) | 2018 | 2017
Trade accounts receivable sold | $4,057 | $8,386 | $8,878
Cash proceeds received(1) | $4,031 | $7,838 | $8,300
Pre-tax losses on sale of receivables(2) | $26 | $15 | $9
Deferred purchase price receivables as of August 31 | $— | $533 | $569


Question: How many years did cash proceeds received exceed $5,000 million?
Answer: 2
Calculation: 2018##2017
The following table provides a reconciliation from U.S. GAAP Net income to non-GAAP Adjusted net income (amounts in thousands):
(1) Fiscal years ending March 31, 2018 and 2017 adjusted due to the adoption of ASC 606.
(2) $0.9 million in costs incurred during fiscal year 2018 related to the relocation of the Company's tantalum powder facility equipment from Carson City, Nevada to its existing Matamoros, Mexico plant were reclassified from “Plant start-up costs” to “Restructuring charges” during fiscal year 2019.
Table:
 |  | Fiscal Years Ended March 31, | 
 | 2019 | 2018 | 2017
Net income (GAAP) (1) | $206,587 | $254,127 | $47,157
Non-GAAP adjustments: |  |  | 
Equity (income) loss from equity method investments | 3,304 | (76,192) | (41,643)
Acquisition (gain) loss | — | (130,880) | —
Change in value of TOKIN options | — | — | (10,700)
(Gain) loss on write down and disposal of long-lived assets | 1,660 | (992) | 10,671
Restructuring charges (2) | 8,779 | 14,843 | 5,404
R&D grant reimbursements and grant income | (4,559) | — | —
ERP integration costs/IT transition costs | 8,813 | 80 | 7,045
Stock-based compensation | 12,866 | 7,657 | 4,720
Legal expenses/fines related to antitrust class actions | 11,896 | 16,636 | 2,640
Net foreign exchange (gain) loss | (7,230) | 13,145 | (3,758)
TOKIN investment-related expenses | — | — | 1,101
Plant start-up costs (2) | (927) | 929 | 427
Amortization included in interest expense | 1,872 | 2,467 | 761
Income tax effect of non-GAAP adjustments | (50,012) | (30) | (741)
Loss on early extinguishment of debt | 15,946 | 486 | —
Adjusted net income (non-GAAP) (1) | $208,995 | $102,276 | $23,084


Question: What was the Acquisition (gain) loss in 2018?
Answer: (130,880)
During the year, we passed an additional 12,400 addresses in the Greater Cincinnati area with Fioptics, which included a focus on Fiber to the Premise ("FTTP") addresses as FTTP has become a more relevant solution for our customers. As of December 31, 2019, the Fioptics products are now available to approximately 623,400 customer locations or 75% of the Greater Cincinnati operating territory. During 2019, we passed an additional 5,900 addresses in Hawaii.  The Consumer/SMB Fiber products are now available to approximately 246,400 addresses, or 50% of the operating territory in Hawaii, including Oahu and the neighbor islands
In 2019, the Company also invested $24.0 million in Enterprise Fiber products, which includes fiber and IP-ased core network technology.  These investments position the Company to meet increased business and carrier demand within Greater Cincinnati and in contiguous markets in the Midwest region.  In Hawaii, expenditures are for high-bandwidth data transport products, such as metro-ethernet, including the Southeast Asia to United States ("SEA-US") cable.  We continue to evolve and optimize network assets to support the migration of legacy products to new technology, and as of December 31, 2019, the Company has:
increased the total number of commercial addresses with fiber-based services (referred to as a lit address) to 28,800 in Greater Cincinnati and 20,300 in Hawaii by connecting approximately 2,200 additional lit addresses in Greater Cincinnati and 1,200 additional lit addresses in Hawaii during the twelve months ended December 31, 2019;
expanded the fiber network to span more than 12,500 route miles in Greater Cincinnati and 4,700 route miles in Hawaii; and
provided cell site back-haul services to approximately 90% of the 1,000 cell sites in the Greater Cincinnati market, of which approximately 97% of these sites are lit with fiber, and 80% of the 1,100 cell sites in Hawaii, all of which are lit with fiber.
As a result of our investments, we have generated year-over-year Entertainment and Communications revenue growth each year since 2013.  The Company's expanding fiber assets allow us to support the ever-increasing demand for data, video and internet devices with speed, agility and security.  We believe our fiber investments are a long-term solution for our customers' bandwidth needs
Table:
Hawaii Operating Territory | 2018 | 2019
Consumer / SMB Fiber Revenue (in millions): | $87.2 | $42.3
Subscribers (in thousands): |  | 
High-speed internet | 68.2 | 65.9
Video | 42.7 | 48.8
Voice | 30.0 | 30.3


Question: What is the total number of subscribers in 2019?
Answer: 140.9
Calculation: 68.2+42.7+30.0
The pension expenses of the direct and indirect company pension plan commitments can be broken down as follows:
1 Netted against employees’ contributions.
2 Included therein: Interest effect from the adjustment of the asset ceiling.
The entire loss to be recognised outside of profit or loss in the other comprehensive income amounts to €90 million in financial year 2018/19. This figure is comprised of the effect from the change in actuarial parameters in the amount of €+247 million and the experience-based adjustments of €+4 million. It was offset by income from plan assets of €103 million and a gain of €58 million resulting from the change in the effect of the asset ceiling in the Netherlands.
In addition to expenses from defined benefit commitments, expenses for payments to external pension providers relating to defined contribution pension commitments of €82 million in financial year 2018/19 (2017/18: €82 million) were recorded. These figures also include payments to statutory pension insurance.
The provisions for obligations similar to pensions essentially comprise commitments from employment anniversary allowances, death benefits and partial retirement plans. Provisions amounting to €34 million (30/9/2018: €41 million) were allocated for these commitments. The commitments are valued on the basis of actuarial expert opinions. The valuation parameters used for this purpose are generally determined in the same way as for the company pension plan.
Table:
€ million | 2017/2018 | 2018/2019
Current service cost1 | 24 | 21
Net interest expenses2 | 11 | 9
Past service cost (incl. curtailments and changes) | 0 | 0
Settlements | 0 | 0
Other pension expenses | 1 | 1
Pension expenses | 36 | 31


Question: What was included therein within the net interest expenses?
Answer: Interest effect from the adjustment of the asset ceiling
Seasonality and Backlog
We experience a slight seasonal pattern to our business. Overall, the third and fourth fiscal quarters are typically the strongest quarters of our fiscal year, whereas the first fiscal quarter is negatively affected by holidays and the second fiscal quarter may be affected by adverse winter weather conditions in some of our markets.
Certain of our end markets experience some seasonality. Our sales in the automotive market are dependent upon global automotive production, and seasonal declines in European production may negatively impact net sales in the fourth fiscal quarter. Also, our sales in the energy market typically increase in the third and fourth fiscal quarters as customer activity increases.
Customer orders typically fluctuate from quarter to quarter based upon business and market conditions. Backlog is not necessarily indicative of future net sales as unfilled orders may be cancelled prior to shipment of goods. Backlog by reportable segment was as follows:
We expect that the majority of our backlog at fiscal year end 2019 will be filled during fiscal 2020.
Table:
 |  | Fiscal Year End
 | 2019 | 2018
 |  | (in millions)
Transportation Solutions | $ 1,639 | $ 1,779
Industrial Solutions | 1,315 | 1,245
Communications Solutions | 361 | 441
Total | $ 3,315 | $ 3,465


Question: What was the percentage change in total backlog in 2019 from 2018?
Answer: -4.33
Calculation: (3,315-3,465)/3,465
NOTE 11 - STOCK CAPITAL (Cont.)
Shares and warrants issued to service providers:
On August 17, 2017 the Company issued to Anthony Fiorino, the former CEO of the Company, for consulting services rendered, a grant of 4,327 shares of restricted stock under the 2014 U.S. Plan, which vests in eight equal quarterly installments (starting November 17, 2017) until fully vested on the second anniversary of the date of grant.
Compensation expense recorded by the Company in respect of its stock-based service provider compensation awards for the year ended December 31, 2019 and 2018 amounted to $25 and $102, respectively.
On March 26, 2019, the Company issued to its legal advisor 5,908 shares of Common Stock under the 2014 U.S. Plan for certain 2018 legal services. The related compensation expense was recorded as general and administrative expense in 2018.
On May 23, 2019, the Company granted to a former director, in consideration for services rendered to the Company, an option under the 2014 Global Plan to purchase up to 4,167 shares of Common Stock with an exercise price per share of $0.75. The option was fully vested and exercisable as of the date of grant.
Total Stock-Based Compensation Expense:
The total stock-based compensation expense, related to shares, options and warrants granted to employees, directors and service providers was comprised, at each period, as follows:
Table:
 | December 31 | 
 | 2019 | 2 0 1 8
U.S. $ in thousands |  | 
Research and development | 123 | 175
General and administrative | 666 | 844
Total stock-based compensation expense | 789 | 1,019


Question: What is the compensation expense recorded by the Company for the year ended December 31, 2019?
Answer: $25
Item 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES
Aggregate audit fees, audit-related fees, tax fees and the aggregate of all other fees billed to us by Ernst & Young LLP for the fiscal years ended June 30, 2019 and 2018 were as follows:
(1) Audit Fees consist of fees incurred for professional services rendered for the integrated audit of our annual consolidated financial statements, review of the quarterly consolidated financial statements and foreign statutory audits and services that are normally provided by Ernst & Young LLP in connection with statutory and regulatory filings or engagements. Audit fees also include accounting consultations, research related to the integrated audit and comfort letter services in relation to our exchangeable senior notes.
(2) Audit-Related Fees consist of fees billed for assurance and related services that are reasonably related to the performance of the audit or review of the Company’s consolidated financial statements and are not reported under “Audit Fees.” This primarily consists of fees for service organization control audits and due diligence on acquisitions.
(3) Tax fees relate to assistance with tax compliance, tax planning and various tax advisory services.
(4) Other fees are any additional amounts for products and services provided by the principal accountants.
Our audit committee has adopted a pre-approval policy for the engagement of our independent accountant to perform certain audit and non-audit services. Pursuant to this policy, which is designed to assure that such engagements do not impair the independence of our auditors, the audit committee pre-approves annually all audit services, audit related services, tax services and other services as described above, that may be performed by our independent accountants. All of the audit and non-audit services provided by our principal accountants have been pre-approved by our Audit Committee.
Table:
 | 2019 | 2018
 | (U.S. $ in thousands) | 
Audit fees (1) | $2,980 | $3,469
Audit-related fees (2) | 648 | 447
Tax fees (3) | 220 | 238
Other fees (4) | 8 | 3
Total | $3,856 | $4,157


Question: What is the change in total fees between fiscal years 2018 and 2019?
Answer: -301
Calculation: 3,856-4,157
Other financial assets and liabilities consists of derivatives, the Group’s holdings in listed and unlisted investments, and loans provided to related parties.
The Group’s investments in listed equity securities are designated as financial assets at fair value through other comprehensive income. Investments are initially measured at fair value net of transaction costs and, in subsequent periods, are measured at fair value with any change recognised in other comprehensive income. Upon disposal, the cumulative gain or loss recognised in other comprehensive income is transferred to retained earnings.
Associates are those entities in which the Group has significant influence but not control or joint control over the financial and operating policies. Investments in associates are initially recognised at cost including transaction costs and are accounted for using the equity method by including the Group’s share of profit or loss and other comprehensive income of associates in the carrying amount of the investment until the date on which significant influence ceases. Dividends received reduce the carrying amount of the investment in associates.
Table:
 | 2019 | 2018
 | $M | $M
Current |  | 
Derivatives | 45 | 53
Total current other financial assets | 45 | 53
Non‑current |  | 
Derivatives | 501 | 366
Listed equity securities | 91 | 96
Investments in associates | 59 | 57
Loans provided to related parties | 41 | 3
Total non‑current other financial assets | 692 | 522
Total other financial assets | 737 | 575
Current |  | 
Derivatives | 58 | 50
Total current other financial liabilities | 58 | 50
Non‑current |  | 
Derivatives | 24 | 61
Total non‑current other financial liabilities | 24 | 61
Total other financial liabilities | 82 | 111


Question: What is the average of the total other financial liabilities for both 2018 and 2019?
Answer: 96.5
Calculation: (82 + 111)/2