hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
ADJUSTED NET DEBT AND DEBT LEVERAGE RATIO
We use adjusted net debt and debt leverage ratio to conduct valuation-related analysis and make capital structure-related decisions. Adjusted net debt includes long-term debt, net debt derivative assets or liabilities, short-term borrowings, and cash and cash equivalents.
1 Includes current and long-term portion of long-term debt before deferred transaction costs and discounts. See “Reconciliation of adjusted net debt” in “Non-GAAP Measures and Related Performance Measures” for the calculation of this amount. 2 For purposes of calculating adjusted net debt and debt leverage ratio, we believe including debt derivatives valued without adjustment for credit risk is commonly used to evaluate debt leverage and for market valuation and transactional purposes.
3 See “Accounting Policies” for more information. 4 Adjusted net debt and adjusted EBITDA are non-GAAP measures and should not be considered substitutes or alternatives for GAAP measures. These are not defined terms under IFRS and do not have standard meanings, so may not be a reliable way to compare us to other companies. See “Non-GAAP Measures and Related Performance Measures” for information about these measures, including how we calculate themand the debt leverage ratio inwhich they are used.
As a result of our adoption of IFRS 16 effective January 1, 2019, we
have modified our definition of adjusted net debt such that it now includes the total of “current portion of lease liabilities” and “lease liabilities”. We believe adding total lease liabilities to adjusted net debt is appropriate as they reflect payments to which we are contractually committed and the related payments have been removed from our calculation of adjusted EBITDA due to the accounting change.
In addition, as at December 31, 2019, we held $1,831 million of
marketable securities in publicly traded companies (2018 – $1,051 million). Our adjusted net debt increased by $3,379 million from December 31, 2018 as a result of: • the inclusion of lease liabilities in the calculation, which had a balance of $1,725 million at year-end, as discussed above; and • a net increase in our outstanding long-term debt, in part due to the 600 MHz spectrum licences we acquired for $1,731 million this year; partially offset by • an increase in our net cash position.
See “Overview of Financial Position” for more information.
Table:
 | As at December 31 | As at January 1 | As at December 31
(In millions of dollars, except ratios) | 2019 | 2019 | 2018
Long-term debt 1 | 16,130 | 14,404 | 14,404
Net debt derivative assets valued without any adjustment for credit risk 2 | (1,414) | (1,448) | (1,448)
Short-term borrowings | 2,238 | 2,255 | 2,255
Lease liabilities 3 | 1,725 | 1,545 | –
Cash and cash equivalents | (494) | (405) | (405)
Adjusted net debt 4 | 18,185 | 16,351 | 14,806
Divided by: trailing 12-month adjusted EBITDA 4 | 6,212 | 6,157 | 5,983
Debt leverage ratio 4 | 2.9 | 2.7 | 2.5


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

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

Question: what is the roi of an investment in teleflex incorporated from 2013 to 2014?
Answer: 24%
Calculation: subtract(124, 100), divide(#0, 100)
11. INTEREST EXPENSES
Interest expenses consist of interest expense on the long-term debt, the commitment fee and amortization of deferred financing costs related to the Credit Facility described in Note 9.
For the years ended December 31, 2019, 2018 and 2017, $0.0 million, $2.6 million and $2.5 million of interest expenses were capitalized, respectively.
Table:
All amounts in USD ‘000  | 2019 | 2018 | 2017
Interest Expenses, net of capitalized interest   | 34,018 | 29,753 | 18,286
Commitment Fee   | - | 3,325 | 760
Amortization of Deferred Financing Costs   | 4,372 | 1,470 | 1,393
Other financial costs   | - | 1 | 25
Total Interest Expenses   | 38,390 | 34,549 | 20,464


Question: What is the percentage change in the interest expense, net of capitalised interest between 2018 and 2019?
Answer: 14.33
Calculation: (34,018 - 29,753)/29,753
The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within our consolidated balance sheets as of December 31, 2019 and 2018 to the total of such amounts as presented in the consolidated statements of cash flows (in thousands):
(1) See Note 7. “Restricted Cash and Investments” to our consolidated financial statements for discussion of our “Restricted cash” arrangements.
During the year ended December 31, 2019, we sold marketable securities for proceeds of $52.0 million and realized no gain or loss on such sales. During the years ended December 31, 2018 and 2017, we sold marketable securities for proceeds of $10.8 million and $118.3 million, respectively, and realized gains of less than $0.1 million on such sales in each respective period. See Note 11. “Fair Value Measurements” to our consolidated financial statements for information about the fair value of our marketable securities.
Table:
 | Balance Sheet Line Item | 2019 | 2018
Cash and cash equivalents | Cash and cash equivalents | $ 1,352,741 | $ 1,403,562
Restricted cash – current (1) | Prepaid expenses and other current assets | 13,697 | 19,671
Restricted cash – noncurrent (1) . | Restricted cash and investments | 80,072 | 139,390
Total cash, cash equivalents, and restricted cash |  | $ 1,446,510 | $ 1,562,623


Question: What is the proceed recognized for the sale of marketable securities in 2018?
Answer: realized gains of less than $0.1 million on such sales in each respective period
Beginning fiscal 2011, we replaced the ownership share grants with time-vested RSUs for certain Vice Presidents and Officers that vest ratably overfour to five years and have a 50% or 100% holding requirement on settled shares, which must be held until termination. There were146,268 of such RSUs outstanding as of September 29, 2019. RSUs issued to non-management directors and certain other employees vest12 months from the date of grant, or upon termination of board service if the director or employee elects to defer receipt, and totaled 69,411 units outstanding as of September 29, 2019. RSUs issued to certain other employees either cliff vest or vest ratably over three years and totaled 35,864 units outstanding as of September 29, 2019. These awards are amortized to compensation expense over the estimated vesting period based upon the fair value of our common stock on the award date discounted by the present value of the expected dividend stream over the vesting period.
The following is a summary of RSU activity for fiscal 2019:
As of September 29, 2019, there was approximately $7.4 million of total unrecognized compensation cost related to RSUs, which is expected to be recognized over a weighted-average period of 2.2 years. The weighted-average grant date fair value of awards granted was$86.08, $94.93, and $102.42 in fiscal years 2019, 2018, and 2017, respectively. In fiscal years 2019, 2018, and 2017, the total fair value of RSUs that vested and were released was$4.7 million, $4.4 million, and $4.4 million, respectively.
Table:
 |  | Weighted-
 |  | Average Grant
 |  | Date Fair
 | Shares | Value
RSUs outstanding at September 30, 2018 | 288,098 | $64.57
Granted | 93,686 | $86.08
Released | (55,642) | $84.23
Forfeited | (14,297) | $94.00
RSUs outstanding at September 29, 2019 | 311,845 | $66.18


Question: What is the total fair value of RSUs outstanding at September 29, 2019?
Answer: 20637902.1
Calculation: 311,845*$66.18
Share Repurchase Program
In both fiscal 2019 and 2018, our board of directors authorized increases of $1.5 billion in our share repurchase program. Common shares repurchased under the share repurchase program were as follows:
At fiscal year end 2019, we had $1.5 billion of availability remaining under our share repurchase authorization.
Table:
 |  | Fiscal | 
 | 2019 | 2018 | 2017
 |  | (in millions) | 
Number of common shares repurchased | 12 | 10 | 8
Repurchase value | $ 1,014 | $ 966 | $ 621


Question: What was the change in the Number of common shares repurchased in 2019 from 2018?
Answer: 2
Calculation: 12-10
Adjusted EBITDA Non-GAAP Reconciliation
(UNAUDITED)
($ in millions)
(1) Refer to Non-GAAP Integration and Transformation Costs and Special Items table for details of the integration and transformation costs and special items included above.
Table:
 |  |  | Pro Forma (1)
 | 2019 | 2018 | 2017
Net income (loss) | $(5,269) | (1,733) | 1,508
Income tax expense | 503 | 170 | (770)
Total other expense, net | 2,040 | 2,133 | 2,147
Depreciation and amortization expense | 4,829 | 5,120 | 5,125
Share-based compensation expenses | 162 | 186 | 238
Goodwill impairment | 6,506 | 2,726 | 0
Adjusted EBITDA | 8,771 | 8,602 | 8,248
Exclude: transaction related expenses | 0 | 0 | 192
Exclude: integration and transformation costs(1) | 234 | 378 | 164
Exclude: special items(1) | 65 | 60 | 82
Adjusted EBITDA excluding integration and transformation costs and special items | $9,070 | 9,040 | 8,686
Total revenue | $22,401 | 23,443 | 24,128
Adjusted EBITDA Margin | 39.2% | 36.7% | 34.2%
Adjusted EBITDA Margin, excluding integration and transformation costs and special items | 40.5% | 38.6% | 36.0%


Question: How many items are excluded from the Adjusted EBITDA?
Answer: 3
Calculation: transaction related expenses##integration and transformation costs##special items
Net finance cost was £47.2m for the year; a decrease of £1.2m on 2017/18. Net regular interest in the year was £40.5m, a decrease of £3.9m compared to the prior year. Consistent with recent years, the largest component of finance costs in the year was interest due to holders of the Group’s senior secured notes, which was £31.7m.
The interest on the senior secured notes was £0.5m lower compared to the prior year following the re-financing of the June 2021 £325m fixed rate notes at a coupon of 6.5% to the October 2023 £300m fixed rate notes to the slightly lower coupon of 6.25%. Bank debt interest of £5.1m was £2.1m lower in the year due to lower levels of average debt and a lower margin on the revolving credit facility following the refinancing completed in May 2018. Amortisation of debt issuance costs was £3.7m, £1.3m lower than the prior year due to lower transaction costs associated with the issue of the £300m 6.25% Fixed rate notes compared with the retired £325m 6.5% Fixed rate notes.
Write-off of financing costs and early redemption fees of £11.3m include a £5.7m fee related to the write-off of transaction costs associated with the senior secured fixed rate notes due March 2021, which were repaid during the year, and a £5.6m redemption fee associated with the early call of the March 2021 bond.
In the prior year, a £0.4m discount unwind credit relating to long-term property provisions held by the Group due to an increase in gilt yields was reflected in reported Net finance cost. In 2018/19, a discount unwind charge of £3.0m was included in the Net finance cost of £47.2m. Other interest income of £7.6m in the year relates to monies received from the Group’s associate Hovis Holdings Limited ('Hovis') and reflects the reversal of a previous impairment.
Table:
£m | 2018/19 | 2017/18 | Change
Senior secured notes interest | 31.7 | 32.2 | 0.5
Bank debt interest | 5.1 | 7.2 | 2.1
 | 36.8 | 39.4 | 2.6
Amortisation of debt issuance costs | 3.7 | 5.0 | 1.3
Net regular interest5 | 40.5 | 44.4 | 3.9
Fair value movements on interest rate financial instruments | – | (0.4) | (0.4)
Write-off of financing costs and early redemption fees | 11.3 | 4.0 | (7.3)
Discount unwind | 3.0 | (0.4) | (3.4)
Other finance income | (7.6) | – | 7.6
Other interest cost | – | 0.8 | 0.8
Net finance cost | 47.2 | 48.4 | 1.2


Question: What is the average Net regular interest, for the year 2018/19 to 2017/18?
Answer: 42.45
Calculation: (40.5+44.4) / 2
Stock Repurchase Program
Our Board of Directors has approved a program for us to repurchase shares of our common stock. On September 17, 2018 and February 15, 2019, we announced that our Board of Directors approved expansions of our stock repurchase program totaling $24.0 billion. As of May 31, 2019, approximately $5.8 billion remained available for stock repurchases pursuant to our stock repurchase program.
Our stock repurchase authorization does not have an expiration date and the pace of our repurchase activity will depend on factors such as our working capital needs, our cash requirements for acquisitions and dividend payments, our debt repayment obligations or repurchases of our debt, our stock price, and economic and market conditions. Our stock repurchases may be effected from time to time through open market purchases or pursuant to a rule 10b5-1 plan. Our stock repurchase program may be accelerated, suspended, delayed or discontinued at any time.
The following table summarizes the stock repurchase activity for the three months ended May 31, 2019 and the approximate dollar value of shares that may yet be purchased pursuant to our stock repurchase program:
Table:
 |  |  | Total Number of | Approximate Dollar
 |  |  | Shares Purchased as | Value of Shares that
 | Total Number of | Average Price | Part of Publicly | May Yet Be
 | Shares | Paid per | Announced | Purchased
(in millions, except per share amounts) | Purchased | Share | Program | Under the Program
March 1, 2019—March 31, 2019 | 58.0 | $52.93 | 58.0 | $8,780.5
April 1, 2019—April 30, 2019 | 29.1 | $54.41 | 29.1 | $7,198.4
May 1, 2019—May 31, 2019 | 24.9 | $54.11 | 24.9 | $5,848.4
Total | 112.0 | $53.57 | 112.0 | 


Question: How does Oracle effect its stock repurchases?
Answer: Our stock repurchases may be effected from time to time through open market purchases or pursuant to a rule 10b5-1 plan. Our stock repurchase program may be accelerated, suspended, delayed or discontinued at any time.
Intangible Assets
Internal software development costs of $2,526 and $12,666 were capitalized during the years ended December 31, 2019 and 2018, respectively, and are classified within software development costs as an intangible asset. Amortization expense related to the capitalized internally developed software was $7,464 and $3,832 for the years ended December 31, 2019 and 2018, respectively, and is included in cost of revenues, sales and marketing and general and administrative expenses in the accompanying Consolidated Statements of Operations and Comprehensive Loss.
Expressed in US $000's except share and per share amounts
Table:
 | December 31, 2018 |  | 
 | Cost | Accumulated amortization | Net book value
 | $ | $ | $
Acquired technology | 15,556 | 7,875 | 7,681
Software development costs | 24,963 | 9,226 | 15,737
Acquired customer relationships | 495 | 346 | 149
Purchased software | 6,973 | 4,503 | 2,470
Other intangible assets | 591 | 556 | 35
 | 48,578 | 22,506 | 26,072


Question: What is the average amortization expense relating to the capitalized internally developed software for 2018 and 2019?
Answer: 5648
Calculation: (7,464+3,832)/2
Simultaneous with the Merger and the Private Offering, New Warrants to purchase 3,403,367 shares of Series B Preferred Stock at an average exercise price of
approximately $1.05 per share were issued to holders of Prior Protagenic warrants; additionally, the holder of $665,000 of our debt and $35,000 of accrued interest exchanged such debt for five-year warrants to purchase 295,945 shares of Series B Preferred Stock at $1.25 per share. Placement Agent Warrants to purchase 127,346 shares of Series B Preferred Stock at an exercise price of $1.25 per share were issued in connection with the Private offering. These warrants to purchase 423,291 shares of Series B Preferred Stock have been recorded as derivative liabilities. All of these warrants automatically converted into warrants to purchase our common stock upon the effectiveness of our reverse stock split in July 2016. See Note 5.
A summary of warrant issuances are as follows:
As of December 31, 2019, the Company had 3,826,658 shares issuable under warrants outstanding at a weighted average exercise price of $1.05 and an intrinsic value
of $1,375,990.
As of December 31, 2018 the Company had 3,826,658 shares issuable under warrants outstanding at a weighted average exercise price of $1.05 and an intrinsic value of
$3,633,335.
Table:
Warrants | Number | Weighted Average Exercise Price | Weighted Average Remaining Life
Outstanding December 31, 2017 | 3,826,658 | $1.05 | 4.69
Granted | - | - | -
Outstanding December 31, 2018 | 3,826,658 | $1.05 | 3.69
Granted | - | - | -
Outstanding December 31, 2019 | 3,826,658 | $1.05 | 2.69


Question: What is the weighted average remaining life of the outstanding warrants as at December 31, 2019?
Answer: 2.69
8. Stocks
Note
1. Finished goods in 2018 includes £2.2 million relating to deferred costs which has been reclassified from prepayments; see note 1 for further details.
There were no stock write-downs recognised in the period (2018 nil) and there were no reversals of prior period stock write-downs (2018 nil).
No stock is carried at fair value less costs to sell (2018 nil).
Table:
 | 2019 | 2018
 | £ million | £ million
Work in progress | 0.7 | 0.6
Finished goods¹ | 3.2 | 3.9
 | 3.9 | 4.5


Question: What was the percentage change in the amount of stocks?
Answer: -13.33
Calculation: (3.9-4.5)/4.5
Note 3: Recent Accounting Pronouncements
Recently Adopted
In May 2014, the FASB released ASU 2014-09, “Revenue from Contracts with Customers,” to supersede nearly all existing revenue recognition guidance under GAAP. The FASB issued subsequent amendments to the initial guidance in August 2015, March 2016, April 2016, May 2016 and December 2016 within ASU 2015–14, ASU 2016–08, ASU 2016–10, ASU 2016–12 and ASU 2016–20, respectively; all of which in combination with ASU 2014-09 were codified as Accounting Standard Codification Topic 606 (“ASC 606”). The core principle of the standard is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration that is expected to be received for those goods or services. The Company adopted ASC 606 on the first day of the current fiscal year, June 25, 2018, under the modified retrospective approach, applying the amendments to prospective reporting periods. Results for reporting periods beginning on or after June 25, 2018 are presented under ASC 606, while prior period amounts are not adjusted and continue to be reported in accordance with the historic accounting under ASC 605. In connection with the adoption of ASC 606, the Company’s revenue recognition policy has been amended, refer to Note 2—Summary of Significant Accounting Policies for a description of the policy.
The cumulative effect of the changes made to the Company’s Consolidated Balance Sheet as of June 25, 2018 for the adoption of ASC 606 to all contracts with customers that were not completed as of June 24, 2018 was recorded as an adjustment to retained earnings as of the adoption date as follows:
Table:
 | June 24, 2018 As Reported | Adjustments | Jun e25, 2018 As Adjusted
 |  | (in thousands) | 
Total assets | $12,479,478 | $12,955 | $12,492,433
Deferred profit | $720,086 | $(160,695) | $559,391
Total liabilities | $5,899,435 | $(126,400) | $5,773,035
Stockholder’s equity | $6,501,851 | $139,355 | $6,641,206


Question: What is the deferred profit as reported in June 24, 2018?
Answer: $720,086
17. Earnings Per Share
Basic earnings per share is computed by dividing the net income attributable to ordinary shareholders by the weighted-average number of ordinary shares outstanding during the period. Diluted earnings per share is computed by giving effect to all potential weighted-average dilutive shares. The dilutive effect of outstanding awards is reflected in diluted earnings per share by application of the treasury stock method.
A reconciliation of the calculation of basic and diluted loss per share is as follows:
* As adjusted to reflect the impact of the full retrospective adoption of IFRS 15. See Note 2 for further details.
For fiscal years ended June 30, 2019, 2018 and 2017 , 9.6 million, 12.8 million and 13.8 million, respectively of potentially anti-dilutive shares were excluded from the computation of net loss per share.
Table:
 | Fiscal Year Ended June 30, |  | 
 | 2019 | 2018 | 2017
 |  | (U.S. $ in thousands, except per share data) | 
 |  | *As Adjusted | *As Adjusted
Numerator: |  |  | 
Net loss attributable to ordinary shareholders | $(637,621) | $(113,432) | $(37,449)
Denominator: |  |  | 
Weighted-average ordinary shares outstanding—basic | 238,611 | 231,184 | 222,224
Weighted-average ordinary shares outstanding—diluted | 238,611 | 231,184 | 222,224
Net loss per share attributable to ordinary shareholders: |  |  | 
Basic net loss per share | $(2.67) | $(0.49) | $(0.17)
Diluted net loss per share | $(2.67) | $(0.49) | $(0.17)


Question: In fiscal year ended June 30, 2019, what is the difference in the weighted-average ordinary shares outstanding between the basic and the diluted?
Answer: 0
Calculation: 238,611-238,611