hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
Recently Adopted Accounting Pronouncements
On April 1, 2018, the Company adopted ASU 2014-09-Revenue from Contracts with Customers (ASC 606) and all related amendments (“New Revenue Standard”) using the modified retrospective method. The Company has applied the new revenue standard to all contracts that were entered into after adoption and to all contracts that were open as of the initial date of adoption. The Company recognized the cumulative effect of initially applying the new revenue standard as an adjustment to the opening balance of retained earnings. The comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods. The adoption of the new standard impacts the Company's net sales on an ongoing basis depending on the relative amount of revenue sold through its distributors, the change in inventory held by its distributors, and the changes in price concessions granted to its distributors. Previously, the Company deferred revenue and cost of sales on shipments to distributors until the distributor sold the product to their end customer. As required by the new revenue standard, the Company no longer defers revenue and cost of sales, but rather, estimates the effects of returns and allowances provided to distributors and records revenue at the time of sale to the distributor. Sales to non-distributor customers, under both the previous and new revenue standards, are generally recognized upon the Company’s shipment of the product. The cumulative effect of the changes made to the consolidated April 1, 2018 balance sheet for the adoption of the new revenue standard is summarized in the table of opening balance sheet adjustments below. In accordance with the new revenue standard requirements, the disclosure of the impact of adoption on the consolidated income statement and balance sheet for the period ended March 31, 2019 was as follows (in millions):
The significant changes in the financial statements noted in the table above are primarily due to the transition from sellthrough revenue recognition to sell-in revenue recognition as required by the New Revenue Standard, which eliminated the balance of deferred income on shipments to distributors, significantly reduced accounts receivable, and significantly increased retained earnings. Prior to the acquisition of Microsemi, Microsemi already recognized revenue on a sell-in basis, so the impact of the adoption of the New Revenue Standard was primarily driven by Microchip's historical business excluding Microsemi.
Table:
 |  | For the year ended March 31, 2019 | 
Income Statement | As reported | Balances without adoption of New Revenue Standard | Effect of Change Higher / (Lower)
Net sales | $5,349.5 | $5,380.1 | $(30.6)
Cost of sales | $2,418.2 | $2,434.0 | $(15.8)
Gross profit | $2,931.3 | $2,946.1 | $(14.8)
Income before income taxes | $204.5 | $219.3 | $(14.8)
Income tax (benefit) provision | $(151.4) | $(149.0) | $(2.4)
Net income from continuing operations | $355.9 | $368.3 | $(12.4)


Question: What was the Balances without adoption of New Revenue Standard for gross profit?
Answer: 2,946.1
the graph below compares expeditors international of washington , inc.'s cumulative 5-year total shareholder return on common stock with the cumulative total returns of the s&p 500 index and the nasdaq industrial transportation index ( nqusb2770t ) . the graph assumes that the value of the investment in our common stock and in each of the indexes ( including reinvestment of dividends ) was $ 100 on 12/31/2013 and tracks it through 12/31/2018 . total return assumes reinvestment of dividends in each of the indices indicated . comparison of 5-year cumulative total return among expeditors international of washington , inc. , the s&p 500 index and the nasdaq industrial transportation index. .

Table:
 | 12/13 | 12/14 | 12/15 | 12/16 | 12/17 | 12/18
expeditors international of washington inc . | $ 100.00 | $ 100.81 | $ 101.92 | $ 119.68 | $ 146.19 | $ 153.88
standard and poor's 500 index | 100.00 | 111.39 | 110.58 | 121.13 | 144.65 | 135.63
nasdaq industrial transportation ( nqusb2770t ) | 100.00 | 121.41 | 93.55 | 120.89 | 154.19 | 140.25
the stock price performance included in this graph is not necessarily indicative of future stock price performance. .

Question: what is the difference in percentage of cumulative total return between expeditors international of washington inc . and the standard and poor's 500 index for the 5 year period ending 12/18?
Answer: 18.25%
Calculation: subtract(153.88, const_100)
DESCRIPTION OF THE PLANS
ESP
The ESP is designed to encourage employees of BCE and its participating subsidiaries to own shares of BCE. Each year, employees can choose to have a certain percentage of their eligible annual earnings withheld through regular payroll deductions for the purchase of BCE common shares. In some cases, the employer also will contribute a percentage of the employee’s eligible annual earnings to the plan, up to a specified maximum. Dividends are credited to the participant’s account on each dividend payment date and are equivalent in value to the dividends paid on BCE common shares.
The ESP allows employees to contribute up to 12% of their annual earnings with a maximum employer contribution of 2%.
Employer contributions to the ESP and related dividends are subject to employees holding their shares for a two-year vesting period.
The trustee of the ESP buys BCE common shares for the participants on the open market, by private purchase or from treasury. BCE determines the method the trustee uses to buy the shares.
At December 31, 2019, 4,360,087 common shares were authorized for issuance from treasury under the ESP.
The following table summarizes the status of unvested employer contributions at December 31, 2019 and 2018.
(1) The weighted average fair value of the shares contributed was $60 in 2019 and $55 in 2018.
Table:
NUMBER OF ESP SHARES | 2019 | 2018
Unvested contributions, January 1 | 1,120,426 | 1,039,030
Contributions (1) | 623,705 | 671,911
Dividends credited | 57,083 | 56,926
Vested | (523,359) | (501,089)
Forfeited | (153,657) | (146,352)
Unvested contributions, December 31 | 1,124,198 | 1,120,426


Question: What is the percentage of unvested contributions on December 31 2019 out of the common shares authorized for issuance from treasury under the ESP?
Answer: 25.78
Calculation: 1,124,198/4,360,087
NOTE 13 - TAXES ON INCOME (Cont.)
D. Loss from continuing operations, before taxes on income, consists of the following:
E. Due to the Company’s cumulative losses, the effect of ASC 740 as codified from ASC 740-10 is not material.
Table:
 | Year ended December 31 | 
 | 2019 | 2 0 1 8
 | U.S. $ in thousands | 
United States | (4,378) | (3,617)
Israel | (18,875) | (10,331)
 | (23,253) | (13,948)


Question: What is the loss from continuing operations, before taxes on income, in the United States in 2019 and 2018 respectively?
Answer: 4,378, 3,617
Selling, General and Administrative
Selling, general and administrative expense decreased $13.0 million to $88.8 million for the year ended December 31, 2019, as compared to $101.8 million for the year ended December 31, 2018. The decrease was primarily due to a decrease in intangible asset amortization of $8.9 million as certain assets reached the end of their useful lives, as well as decreases in payroll-related expense of $1.7 million due to lower headcount, professional fees of $1.3 million, outside services of $0.5 million, and travel-related expenses of $0.3 million.
We expect selling, general and administrative expenses to remain relatively flat in the near-term; however, our expenses may increase in the future as we expand our sales and marketing organization to enable market expansion.
Table:
 | Year Ended December 31, |  | % Change
 | 2019 | 2018 | 2019
 |  | (dollars in thousands) | 
Selling, general and administrative | $88,762 | $101,789 | (13)%
% of net revenue | 28% | 26% | 


Question: Why is the selling, general and administrative expenses expected to increase in the future?
Answer: as we expand our sales and marketing organization to enable market expansion.
The Credit Agreement and 2026 Notes contain certain customary affirmative covenants and negative covenants that limit or restrict, subject to certain exceptions, the incurrence of liens, indebtedness of subsidiaries, mergers, advances, investments, acquisitions, transactions with affiliates, change in nature of business, and the sale of the assets. In addition, the Credit Agreement and 2026 Notes contain certain customary mandatory prepayment provisions. The Company is also required to maintain a consolidated leverage ratio at or below a specified amount and an interest coverage ratio at or above a specified amount. As specified in the Credit Agreement and 2026 Notes agreement, if certain events occur and continue, the Company may be required to repay all amounts outstanding under the Credit Facility and 2026 Notes. As of December 31, 2019, and at all times during the period, the Company was in compliance with its financial debt covenants.
Total debt is comprised of the following (in thousands):
Table:
 | December 31, | 
 | 2019 | 2018
Term loans | $756,060 | $284,959
Revolving credit facility | 239,000 | —
5.750% Senior Notes, due August 2026 | 400,000 | 400,000
Debt issuance costs | (21,905 ) | (13,203 )
Total debt | 1,373,155 | 671,756
Less current portion of term credit facility | 38,950 | 23,747
Less current portion of debt issuance costs | (4,802 ) | (2,980 )
Total long-term debt | $1,339,007 | $650,989


Question: What was the Revolving credit facility in 2019?
Answer: 239,000
Comparison of 2019 and 2018
Revenue
We generate substantially all of our revenue from sales of subscriptions, including domain registrations and renewals, hosting and presence products and business applications. Our subscription terms average one year, but can range from monthly terms to multi-annual terms of up to ten years depending on the product. We generally collect the full amount of subscription fees at the time of sale, while revenue is recognized over the period in which the performance obligations are satisfied, which is generally over the contract term. Revenue is presented net of refunds, and we maintain a reserve to provide for refunds granted to customers
Domains revenue primarily consists of revenue from the sale of domain registration subscriptions, domain add-ons and aftermarket domain sales. Domain registrations provide a customer with the exclusive use of a domain during the applicable contract term. After the contract term expires, unless renewed, the customer can no longer access the domain.
Hosting and presence revenue primarily consists of revenue from the sale of subscriptions for our website hosting products, website building products, website security products and online visibility products.
Business applications revenue primarily consists of revenue from the sale of subscriptions for third-party productivity applications, email accounts, email marketing tools and telephony solutions.
The following table presents our revenue for the periods indicated:
The 12.3% increase in total revenue was driven by growth in total customers and ARPU as well as having a full year of revenue from MSH in 2019, partially offset by the impact of movements in foreign currency exchange rates. The increase in customers impacted each of our revenue lines, as the additional customers purchased subscriptions across our product portfolio.
Domains. The 10.8% increase in domains revenue was primarily driven by the increase in domains under management from 77.6 million as of December 31, 2018 to 79.6 million as of December 31, 2019, increased aftermarket domain sales and international growth
Hosting and presence. The 10.7% increase in hosting and presence revenue was primarily driven by increased revenue from our website building and website security products as well as our acquisition of MSH.
Business applications. The 20.8% increase in business applications was primarily driven by increased customer adoption of our email, productivity and telephony solutions.
Table:
 | Year Ended December 31, |  |  | 2019 to 2018 |  | 2018 to 2017 | 
 | 2019 | 2018 | 2017 | $ change | % change | $ change | % change
Domains | $ 1,351.6 | $ 1,220.3 | $ 1,057.2 | $ 131.3 | 11 % | $ 163.1 | 15 %
Hosting and presence | 1,126.5 | 1,017.6 | 847.9 | 108.9 | 11 % | 169.7 | 20 %
Business applications | 510.0 | 422.2 | 326.8 | 87.8 | 21 % | 95.4 | 29 %
Total revenue | $ 2,988.1 | $ 2,660.1 | $ 2,231.9 | $ 328.0 | 12 % | $ 428.2 | 19 %


Question: Which three types of revenues are listed in the table?
Answer: Domains, Hosting and presence, Business applications
Defined Benefit Pension Plan Assets
The investments of the plans are managed by insurance companies or third-party investment managers selected by Autodesk's Trustees, consistent with regulations or market practice of the country where the assets are invested. Investments managed by qualified insurance companies or third-party investment managers under standard contracts follow local regulations, and Autodesk is not actively involved in their investment strategies.
Defined benefit pension plan assets measured at fair value on a recurring basis consisted of the following investment categories at the end of each period as follows:
The insurance contracts in the preceding table represent the immediate cash surrender value of assets managed by qualified insurance companies. Autodesk does not have control over the target allocation or visibility of the investment strategies of those investments. Insurance contracts and investments held by insurance companies made up 35% and 44% of total plan assets as of January 31, 2019 and January 31, 2018, respectively.
The assets held in the investment fund in the preceding table are invested in a diversified growth fund actively managed by Russell Investments in association with Aon Hewitt. The objective of the fund is to generate capital appreciation on a longterm basis through a diversified portfolio of investments. The fund aims to deliver equity-like returns in the medium to long term with around two-thirds the volatility of equity markets. The fair value of the assets held in the investment fund are priced monthly at net asset value without restrictions on redemption.
Table:
 | Fiscal Year Ended January 31, |  |  |  | 
 | 2019 |  |  |  | 2018
 | Level 1 | Level 2 | Level 3 | Total | Total
Insurance contracts | $— | $28.0 | $— | $28.0 | $53.0
Other investments | — | 14.5 | — | 14.5 | 17.0
Total assets measured at fair value | $— | $42.5 | $— | $42.5 | 70.0
Cash |  |  |  | 4.3 | 0.2
Investment Fund valued using net asset value |  |  |  | 34.0 | 50.9
Total pension plan assets at fair value |  |  |  | $80.8 | $121.1


Question: Where are the assets in the investment fund in the preceding table held?
Answer: The assets held in the investment fund in the preceding table are invested in a diversified growth fund actively managed by Russell Investments in association with Aon Hewitt
Disaggregation of Revenues
The Company serves customers in diverse geographies, which are subject to different economic and industry factors. The Company's presentation of revenue by geography most reasonably depicts how the nature, amount, timing and uncertainty of Company revenue and cash flows are affected by economic and industry factors. The following table presents the Company's revenue, from continuing operations, by geography for the year ended December 31, 2019, 2018 and 2017 (in millions):
Table:
 |  | Year Ended December 31, | 
 | 2019 | 2018 | 2017
Net sales: |  |  | 
United States | $901.3 | $854.6 | $759.4
Canada | 45.6 | 42.3 | 32.4
Consolidated | $946.9 | $896.9 | $791.8


Question: What does the company's presentation of revenue by geography depict?
Answer: How the nature, amount, timing and uncertainty of Company revenue and cash flows are affected by economic and industry factors.
Deferred Revenue and Customer Liabilities
Deferred revenue and customer liabilities consisted of the following (in thousands):
The Company expects to recognize the majority of its deferred revenue as of December 31, 2019 over the next 180 days. Revenues of $3.7 million were recognized during the year ended December 31, 2019 from amounts included in deferred revenue at December 31, 2018. Revenues of $4.4 million were recognized during the year ended December 31, 2018 from amounts included in deferred revenue at January 1, 2018.
The Company expects to recognize the majority of the customer arrangements with termination rights into revenue as the Company has not historically experienced a high rate of contract terminations.
Estimated refund liabilities are generally resolved in 180 days, once it is determined whether the requisite service levels and client requirements were achieved to settle the contingency.
Table:
 | December 31, | 
 | 2019 | 2018
Deferred revenue | $3,012 | $3,655
Customer arrangements with termination rights | 15,024 | 16,404
Estimated refund liabilities | 8,585 | 10,117
 | $26,621 | $30,176


Question: What are the different types of components making up the deferred revenue and customer liabilities?
Answer: Deferred revenue, Customer arrangements with termination rights, Estimated refund liabilities
2022 the ability to identify suitable acquisition candidates and the ability to finance such acquisitions , which depends upon the availability of adequate cash reserves from operations or of acceptable financing terms and the variability of our stock price ; 2022 our ability to integrate any acquired business 2019 operations , services , clients , and personnel ; 2022 the effect of our substantial leverage , which may limit the funds available to make acquisitions and invest in our business ; 2022 changes in , or the failure to comply with , government regulations , including privacy regulations ; and 2022 other risks detailed elsewhere in this risk factors section and in our other filings with the securities and exchange commission . we are not under any obligation ( and expressly disclaim any such obligation ) to update or alter our forward- looking statements , whether as a result of new information , future events or otherwise . you should carefully consider the possibility that actual results may differ materially from our forward-looking statements . item 1b . unresolved staff comments . item 2 . properties . our corporate headquarters are located in jacksonville , florida , in an owned facility . fnf occupies and pays us rent for approximately 86000 square feet in this facility . we lease office space as follows : number of locations ( 1 ) .

Table:
state | number of locations ( 1 )
california | 44
texas | 21
florida | 18
georgia new york | 10
new jersey | 8
illinois massachusetts | 7
alabama arizona minnesota north carolina | 6
other | 64
( 1 ) represents the number of locations in each state listed .
we also lease approximately 72 locations outside the united states .
we believe our properties are adequate for our business as presently conducted .
item 3 .
legal proceedings .
in the ordinary course of business , the company is involved in various pending and threatened litigation matters related to operations , some of which include claims for punitive or exemplary damages .
the company believes that no actions , other than the matters listed below , depart from customary litigation incidental to its business .
as background to the disclosure below , please note the following : 2022 these matters raise difficult and complicated factual and legal issues and are subject to many uncertainties and complexities .
2022 the company reviews these matters on an on-going basis and follows the provisions of statement of financial accounting standards no .
5 , accounting for contingencies ( 201csfas 5 201d ) , when making accrual and disclosure decisions .
when assessing reasonably possible and probable outcomes , the company bases decisions on the assessment of the ultimate outcome following all appeals. .

Question: what is the total number of locations leased by fis?
Answer: 136
Calculation: add(72, 64)
Concentration of Credit Risk and Significant Customers
Financial instruments that potentially subject us to concentrations of credit risk consist of cash, cash equivalents, marketable securities and accounts receivable. Our cash, cash equivalents and marketable securities are held and invested in high-credit quality financial instruments by recognized financial institutions and are subject to minimum credit risk.
Our accounts receivable are unsecured and represent amounts due to us based on contractual obligations of our customers. We mitigate credit risk in respect to accounts receivable by performing periodic credit evaluations based on a number of factors, including past transaction experience, evaluation of credit history and review of the invoicing terms of the contract. We generally do not require our customers to provide collateral to support accounts receivable.
Significant customers, including distribution channel partners and direct customers, are those which represent 10% or more of our total revenue for each period presented or our gross accounts receivable balance as of each respective balance sheet date. Revenues from our significant customers as a percentage of our total revenue are as follows
*represents less than 10% of total revenue
As of December 31, 2019, two customers accounted for 17% and 12% of our total gross accounts receivable.
As of December 31, 2018, two customers accounted for 16% and 12% of our total gross accounts receivable
Table:
 |  | Years Ended December 31, | 
 | 2019 | 2018 | 2017
Customer A (a distribution channel partner) | * | 14% | *
Customer B (a distribution channel partner) | 12% | 10% | *
Customer C (a distribution channel partner) | 14% | * | *


Question: How does the company mitigate its credit risk pertaining to accounts receivable?
Answer: performing periodic credit evaluations based on a number of factors, including past transaction experience, evaluation of credit history and review of the invoicing terms of the contract
Property and Equipment, net
Property and equipment consist of the following (in thousands):
As of July 31, 2019 and 2018, no property and equipment was pledged as collateral. Depreciation expense, excluding the amortization of software development costs, was $9.7 million, $7.7 million, and $6.6 million for the fiscal years ended July 31, 2019, 2018, and 2017, respectively.
The Company capitalizes software development costs for technology applications that the Company will offer solely as cloud-based subscriptions, which is primarily comprised of compensation for employees who are directly associated with the software development projects. The Company begins amortizing the capitalized software development costs once the technology applications are available for general release over the estimated lives of the applications, ranging from three to five years.
The Company recognized approximately $1.0 million and $0.4 million in amortization expense in cost of revenue - license and subscription on the accompanying consolidated statements of operations during the fiscal years ended July 31, 2019 and 2018, respectively. There was no such amortization during the fiscal year ended July 31, 2017.
Table:
 | July 31, 2019  | July 31, 2018
Computer hardware | $17,799 | $20,614
Software | 6,741 | 4,664
Capitalized software development costs | 7,374 | 3,978
Equipment and machinery | 10,455 | 4,265
Furniture and fixtures | 8,137 | 4,217
Leasehold improvements | 48,191 | 10,751
    Total property and equipment | 98,697 | 48,489
Less accumulated depreciation | (32,888) | (29,894)
    Property and equipment, net  | $65,809 | $18,595


Question: What was the average Software value for 2018 and 2019?
Answer: 5702.5
Calculation: (6,741 + 4,664) / 2