hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
NOTE 15 – INCOME TAXES (CONTINUED)
The cumulative tax effect of significant items comprising our net deferred tax amount at the expected rate of 21% is as follows as of December 31, 2019 and 2018:
The ultimate realization of deferred tax assets is dependent upon the Company’s ability to generate sufficient taxable income during the periods in which the net operating losses expire and the temporary differences become deductible. The Company has determined that there is significant uncertainty that the results of future operations and the reversals of existing taxable temporary differences will generate sufficient taxable income to realize the deferred tax assets; therefore, a valuation allowance has been recorded. In making this determination, the Company considered historical levels of income as well as projections for future periods.
The tax years 2016 to 2019 remain open for potential audit by the Internal Revenue Service. There are no uncertain tax positions as of December 31, 2018 or December 31, 2019, and none are expected in the next 12 months. The Company’s foreign subsidiaries are cost centers that are reimbursed for expenses, so generate no income or loss. Pretax book income (loss) is all from domestic operations. Up to four years of returns remain open for potential audit in foreign jurisdictions, however any audits for periods prior to ownership by the Company are the responsibility of the previous owners.
Under certain circumstances issuance of common shares can result in an ownership change under Internal Revenue Code Section 382, which limits the Company’s ability to utilize carry-forwards from prior to the ownership change. Any such ownership change resulting from stock issuances and redemptions could limit the Company’s ability to utilize any net operating loss carry-forwards or credits generated before this change in ownership. These limitations can limit both the timing of usage of these laws, as well as the loss of the ability to use these net operating losses. It is likely that fundraising activities have resulted in such an ownership change.
Table:
 | 2019 | 2018
Deferred tax asset attributable to:       |  | 
Net operating loss carryover  | $3,839,000 | $2,290,000
Stock compensation   | 320,000 | 535,000
Intangible Assets   | - | 124,000
Other   | 36,000 | 3,000
Deferred tax asset  | 4,195,000 | $2,952,000
Deferred tax liabilities attributable to:         |  | 
Fixed assets  | $(13,000) | $(5,000)
Intangibles   | (2,438,000) | -
Other   | (16,000) | (9,000)
Valuation allowance   | (1,728,000) | (2,938,000)
Deferred tax liability  | $(4,195,000) | $(2,952,000)
Net deferred tax asset  | $- | $-


Question: What is the percentage change in deferred tax assets in 2019 compared to 2018?
Answer: 42.11
Calculation: (4,195,000-2,952,000)/2,952,000
For the periods indicated, the weighted-average fair value of options and weighted-average assumptions were as follows:
*Options valued using Monte Carlo Valuation Method
As of June 30, 2019, the total compensation cost related to the unvested stock option awards not yet recognized was approximately $24.1 million, which will be recognized over a weighted-average period of approximately 3.0 years.
No cash was used by us to settle equity instruments granted under share-based compensation arrangements in any of the periods presented.
We have not capitalized any share-based compensation costs as part of the cost of an asset in any of the periods presented.
For the year ended June 30, 2019, cash in the amount of $35.6 million was received as the result of the exercise of options granted under share-based payment arrangements. The tax benefit realized by us during the year ended June 30, 2019 from the exercise of options eligible for a tax deduction was $2.9 million.
For the year ended June 30, 2018, cash in the amount of $54.4 million was received as the result of the exercise of options granted under share-based payment arrangements. The tax benefit realized by us during the year ended June 30, 2018 from the exercise of options eligible for a tax deduction was $1.5 million.
For the year ended June 30, 2017, cash in the amount of $20.8 million was received as the result of the exercise of options granted under share-based payment arrangements. The tax benefit realized by us during the year ended June 30, 2017 from the exercise of options eligible for a tax deduction was $2.2 million.
Table:
 |  | Year Ended June 30, | 
 | 2019 | 2018 | 2017
Weighted–average fair value of options granted | $8.39 | $7.58 | $7.06
Weighted-average assumptions used: |  |  | 
Expected volatility | 25.72% | 26.95% | 28.32%
Risk–free interest rate | 2.57% | 2.18% | 1.46%
Expected dividend yield | 1.54% | 1.50% | 1.43%
Expected life (in years) | 4.44 | 4.38 | 4.51
Forfeiture rate (based on historical rates) | 6% | 6% | 5%
Average exercise share price | $38.81 | $34.60 | $31.75
Derived service period (in years)* | N/A | N/A | 1.79


Question: What is the total tax benefit for fiscal years 2017-2019?
Answer: 6.6
Calculation: 2.9+1.5+2.2
Net debt including IFRS 16 lease liabilities
A reconciliation between net debt and net debt including IFRS 16 lease liabilities is given below. A breakdown of the balances that are included within net debt is given within Note 24. Net debt excludes IFRS 16 lease liabilities to enable comparability with prior years.
Table:
 | 2019 | 2018
 | £m | £m
Net debt | 295.2 | 235.8
IFRS 16 lease liabilities | 38.9 | –
Net debt and IFRS 16 lease liabilities | 334.1 | 235.8


Question: What is the Net debt and IFRS 16 lease liabilities for 2018 and 2019 respectively?
Answer: 235.8, 334.1
11 Intangible assets
(a) Intangible assets
RIGHTS AND LICENCES
Certain licences that NEXTDC possesses have an indefinite useful life and are carried at cost less impairment losses and are subject to impairment review at least annually and whenever there is an indication that it may be impaired.
Other licences that NEXTDC acquires are carried at cost less accumulated amortisation and accumulated impairment losses. Amortisation is recognised on a straight-line basis over the estimated useful life. The estimated useful life and amortisation method are reviewed at the end of each annual reporting period.
INTERNALLY GENERATED SOFTWARE
Internally developed software is capitalised at cost less accumulated amortisation. Amortisation is calculated using the straight-line basis over the asset’s useful economic life which is generally two to three years. Their useful lives and potential impairment are reviewed at the end of each financial year.
SOFTWARE UNDER DEVELOPMENT
Costs incurred in developing products or systems and costs incurred in acquiring software and licenses that will contribute to future period financial benefits through revenue generation and/or cost reduction are capitalised to software and systems. Costs capitalised include external direct costs of materials and services and employee costs.
Assets in the course of construction include only those costs directly attributable to the development phase and are only recognised following completion of technical feasibility and where the Group has an intention and ability to use the asset.
Table:
 | 30 June 2019 | 30 June 2018
 | $'000 | $'000
Rights and licences | 13 | 13
Internally generated software | 7,381 | 6,385
Software under development | 16,284 | 6,509
Total intangible assets | 23,678 | 12,907


Question: What was the percentage change in internally generated software between 2018 and 2019?
Answer: 15.6
Calculation: (7,381 - 6,385) / 6,385
AMERICAN TOWER CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Tabular amounts in millions, unless otherwise disclosed)
Accounts Receivable and Deferred Rent Asset—The Company derives the largest portion of its revenues and corresponding accounts receivable and the related deferred rent asset from a relatively small number of tenants in the telecommunications industry, and 54% of its current-year revenues are derived from four tenants.
The Company’s deferred rent asset is associated with non-cancellable tenant leases that contain fixed escalation clauses over the terms of the applicable lease in which revenue is recognized on a straight-line basis over the lease term.
The Company mitigates its concentrations of credit risk with respect to notes and trade receivables and the related deferred rent assets by actively monitoring the creditworthiness of its borrowers and tenants. In recognizing tenant revenue, the Company assesses the collectibility of both the amounts billed and the portion recognized in advance of billing on a straight-line basis. This assessment takes tenant credit risk and business and industry conditions into consideration to ultimately determine the collectibility of the amounts billed. To the extent the amounts, based on management’s estimates, may not be collectible, revenue recognition is deferred until such point as collectibility is determined to be reasonably assured. Any amounts that were previously recognized as revenue and subsequently determined to be uncollectible are charged to bad debt expense included in Selling, general, administrative and development expense in the accompanying consolidated statements of operations.
Accounts receivable is reported net of allowances for doubtful accounts related to estimated losses resulting from a tenant’s inability to make required payments and allowances for amounts invoiced whose collectibility is not reasonably assured. These allowances are generally estimated based on payment patterns, days past due and collection history, and incorporate changes in economic conditions that may not be reflected in historical trends, such as tenants in bankruptcy, liquidation or reorganization. Receivables are written-off against the allowances when they are determined to be uncollectible. Such determination includes analysis and consideration of the particular conditions of the account. Changes in the allowances were as follows:
(1) In 2019, write-offs are primarily related to uncollectible amounts in India. In 2018 and 2017, recoveries include recognition of revenue resulting from collections of previously reserved amounts.
Table:
 |  | Year Ended December 31, | 
 | 2019 | 2018 | 2017
Balance as of January 1, | $282.4 | $131.0 | $45.9
Current year increases | 104.3 | 157.8 | 87.2
Write-offs, recoveries and other (1) | (223.4) | (6.4) | (2.1)
Balance as of December 31, | $163.3 | $282.4 | $131.0


Question: In 2019, what were the write-offs primarily related to?
Answer: uncollectible amounts in India
8. Marketable Securities
The cost, gross unrealized gains, gross unrealized losses and fair market value of available-for-sale securities at April 30, 2019 and 2018, respectively, were as follows (in thousands):
Table:
 |  |  | April 30, 2019 | 
 | Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Market Value
Fixed income securities | $8,152 | $71 | $(24) | $8,199
 |  |  | April 30, 2018 | 
 | Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Market Value
Fixed income securities | $6,274 | $10 | $(135) | $6,149


Question: What is the gross unrealized gains of the fixed income securities in 2019 and 2018 respectively?
Answer: $71, $10
Net revenues by geographical region
Percentage of revenue by geographic region as presented below is based on the billing location of the customer.
Percentages may not add to 100% due to rounding.
The Americas include U.S., Canada, and Latin America; EMEA includes Europe, Middle East, and Africa; APJ includes Asia Pacific and Japan.
Table:
 | Fiscal Year | 
 | 2019 | 2018
Americas | 64% | 63%
EMEA | 21% | 22%
APJ | 15% | 16%


Question: What does the table show?
Answer: Net revenues by geographical region
Share-Based Compensation Expense
The following table sets forth the total share-based compensation expense included in our consolidated statements of operations (amounts in millions):
Table:
 |  | For the Years Ended December 31, | 
 | 2019 | 2018 | 2017
Cost of revenues—product sales: Software royalties, amortization, and intellectual property licenses | $19 | $13 | $10
Cost of revenues—subscription, licensing, and other revenues: Game Operations and Distribution Costs | 1 | 2 | 1
Cost of revenues—subscription, licensing, and other revenues: Software royalties, amortization, and intellectual property licenses | 1 | 3 | 3
Product development | 53 | 61 | 57
Sales and marketing | 10 | 15 | 15
General and administrative | 82 | 115 | 92
Share-based compensation expense before income taxes | 166 | 209 | 178
Income tax benefit | (29) | (46) | (34)
Total share-based compensation expense, net of income tax benefit | $137 | $163 | $144


Question: What was the cost of revenues from product sales in 2018?
Answer: $13
CREDIT RISK
In many instances, trade receivables are written off directly to bad debt expense if the account has not been collected after a predetermined period of time.
The following table provides further details on trade receivables, net of allowance for doubtful accounts.
Table:
AT DECEMBER 31 | 2019 | 2018
Trade receivables not past due | 2,082 | 2,091
Trade receivables past due, net of allowance for doubtful accounts |  | 
Under 60 days | 541 | 508
60 to 120 days | 232 | 304
Over 120 days | 64 | 72
Trade receivables, net of allowance for doubtful accounts | 2,919 | 2,975


Question: What is the amount of trade receivables not past due in 2019?
Answer: 2,082
Unearned Revenue
Unearned revenue as of the periods presented consisted of the following (table in millions):
Unearned subscription and SaaS revenue is generally recognized over time as customers consume the services or ratably over the term of the subscription, commencing upon provisioning of the service. Previously, unearned subscription and SaaS revenue was allocated between unearned license revenue and unearned software maintenance revenue in prior periods and has been reclassified to conform with current period presentation.
Unearned software maintenance revenue is attributable to our maintenance contracts and is generally recognized over time on a ratable basis over the contract duration. The weighted-average remaining contractual term as of January 31, 2020 was approximately two years. Unearned professional services revenue results primarily from prepaid professional services and is generally recognized as the services are performed.
Table:
 | January 31, 2020 | February 1,2019
Unearned license revenue | $19 | $15
Unearned subscription and SaaS revenue | 1,534 | 916
Unearned software maintenance revenue | 6,700 | 5,741
Unearned professional services revenue | 1,015 | 767
Total unearned revenue | $9,268 | $7,439


Question: How many years did Unearned software maintenance revenue exceed $5,000 million?
Answer: 2
Calculation: 2020##2019
Note 11: Income Taxes
The provision for income tax expense (benefit) is as follows (amounts in thousands):
(1) Fiscal years ended March 31, 2018 and 2017 adjusted due to the adoption of ASC 606.
The Company realized a deferred tax expense (benefit) for fiscal years ended 2019, 2018 and 2017 of ($50.1) million, $0.6 million and $1.2 million, respectively, in U.S. and certain foreign jurisdictions based on changes in judgment about the realizability of deferred tax assets in future years.
Table:
 |  | Fiscal Years Ended March 31, | 
 | 2019 | 2018 | 2017
Current: |  |  | 
Federal | $170 | $223 | $—
State and local | 161 | 50 | 62
Foreign | 9,966 | 8,295 | 4,247
Total current income tax expense from continuing operations | 10,297 | 8,568 | 4,309
Deferred: |  |  | 
Federal | (43,804) | (807) | (6)
State and local | (773) | (96) | (97)
Foreign (1) | (5,180) | 1,467 | 88
Deferred tax expense (benefit) from continuing operations (1) | (49,757) | 564 | (15)
Provision for income tax expense (benefit) (1) | $(39,460) | $9,132 | $4,294


Question: How many years did Total current income tax expense from continuing operations exceed $10,000 thousand?
Answer: 1
Calculation: 2019
NOTE 5 – PROPERTY AND EQUIPMENT
The Company owned equipment recorded at cost, which consisted of the following as of December 31, 2019 and 2018:
Depreciation expense was $80,206 and $58,423 for the years ended December 31, 2019 and 2018, respectively
Table:
 | 2019 | 2018
Computer equipment | $137,763 | $94,384
Furniture and fixtures | 187,167 | 159,648
Subtotal | 324,930 | 254,032
Less accumulated depreciation | 148,916 | 104,702
Property and equipment, net | $176,014 | $149,330


Question: What were the net costs of property and equipment that the Company owned in 2018 and 2019, respectively?
Answer: $149,330, $176,014
Short-term borrowings and current portion of long-term obligations consist of the following (in thousands):
(1) Net of debt issuance costs of $4.6 million and $4.7 million at September 28, 2019 and September 29, 2018, respectively.
Table:
 | Fiscal year-end | 
 | 2019 | 2018
Current portion of Euro Term Loan(1) | $2,748 | $3,092
1.3% Term loan due 2024 | 1,367 | 1,448
1.0% State of Connecticut term loan due 2023 | 378 | 374
Capital lease obligations | 370 | 158
Line of credit borrowings | 10,000 | —
Total current portion of long-term obligations | $14,863 | $5,072


Question: What was the amount of Line of credit borrowings in 2019?
Answer: 10,000
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: For 2019, What is the segment of Front-end that has the highest expense amount?
Answer: Research and development expenses
Calculation: For COL4 rows 4 to 7 and row 9, find the largest number and the corresponding segment in COL2
Financial review
2019 was a challenging year for the retail property sector with the ongoing structural changes and low consumer confidence impacting some weaker retailers and leading to a higher level of CVAs and administrations. This impacted our revenue, net rental income and property valuations, with like-for-like net rental income down 9.1 per cent and the property revaluation deficit was £1,979.7 million.
Fixing the balance sheet is our top strategic priority and although the notes accompanying these financial statements indicate a material uncertainty in relation to intu’s ability to continue as a going concern we have options including alternative capital structures and further disposals to put us on a stronger financial footing.
1 A reconciliation from the IFRS consolidated income statement to the underlying earnings amounts presented above is provided in presentation of information on page 161.
2 Other underlying amounts includes net other income, share of underlying profit in associates and any underlying amounts attributable to non-controlling interests.
3 Other non-underlying amounts includes losses on disposal of subsidiaries, gains on sale of investment and development property, write-down on recognition of joint ventures and other assets classified as held for sale, impairment of goodwill, impairment of investment in associates, impairment of loan to associate, exceptional administration expenses, exceptional tax, and any non-underlying amounts attributable to non-controlling interests.
The IFRS loss for the year attributable to owners of intu properties plc increased by £818.7 million to £1,950.9 million, with the IFRS basic loss per share increasing by 60.8 pence. Underlying earnings decreased by £65.9 million to £127.2 million, with a corresponding reduction in underlying EPS of 4.9 pence. The key drivers of these variances are discussed below.
Table:
£m | Notes | 2019 | 2018 | Change
Net rental income | A | 401.6 | 450.5 | (48.9)
Administration expenses | B | (40.5) | (44.0) | 3.5
Net finance costs | C | (224.6) | (220.4) | (4.2)
Tax on underlying profit | D | (17.6) | (0.7) | (16.9)
Other underlying amounts2 |  | 8.3 | 7.7 | 0.6
Underlying earnings1 |  | 127.2 | 193.1 | (65.9)
Revaluation of investment and development property | E | (1,979.7) | (1,405.0) | (574.7)
Change in fair value of financial
instruments | F | (75.3) | 86.3 | (161.6)
Other finance charges – exceptional | G | (37.7) | (28.4) | (9.3)
Other non-underlying amounts3 |  | 14.6 | 21.8 | (7.2)
IFRS loss for the year attributable
to owners of intu properties plc1 |  | (1,950.9) | (1,132.2) | (818.7)
IFRS basic loss per share (pence) |  | (145.1)p | (84.3)p | (60.8)p
Underlying EPS (pence) |  | 9.5p | 14.4p | (4.9)p


Question: What is the percentage change in the net finance costs from 2018 to 2019?
Answer: -1.91
Calculation: (4.2)/220.4