hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
(18) Quarterly Financial Data (Unaudited)
During the first quarter of 2019, we recorded a non-cash, non-tax-deductible goodwill impairment charge of $6.5 billion for goodwill, see Note 4—Goodwill, Customer Relationships and Other Intangible Assets for further details.
During the fourth quarter of 2018, we recorded a non-cash, non-tax-deductible goodwill impairment charge of $2.7 billion for goodwill see Note 4—Goodwill, Customer Relationships and Other Intangible Assets for further details.
During the first quarter of 2018, we recognized $71 million of expenses related to our acquisition of Level 3 followed by acquisition-related expenses of $162 million, $43 million and $117 million in the second, third and fourth quarters of 2018, respectively. During 2019, we recognized expenses related to our acquisition of Level 3 of $34 million, $39 million, $38 million and $123 million in the first, second, third and fourth quarters of 2019, respectively.
Table:
 | First Quarter | Second Quarter | Third Quarter | Fourth Quarter | Total
 |  |  | (Dollars in millions, except per share amounts) |  | 
2019 |  |  |  |  | 
Operating revenue | $5,647 | 5,578 | 5,606 | 5,570 | 22,401
Operating (loss) income | (5,499) | 976 | 950 | 847 | (2,726)
Net (loss) income | (6,165) | 371 | 302 | 223 | (5,269)
Basic (loss) earnings per common share | (5.77) | 0.35 | 0.28 | 0.21 | (4.92)
Diluted (loss) earnings per common share | (5.77) | 0.35 | 0.28 | 0.21 | (4.92)
2018 |  |  |  |  | 
Operating revenue | $5,945 | 5,902 | 5,818 | 5,778 | 23,443
Operating income (loss) | 750 | 767 | 894 | (1,841) | 570
Net income (loss) | 115 | 292 | 272 | (2,412) | (1,733)
Basic earnings (loss) per common share | 0.11 | 0.27 | 0.25 | (2.26) | (1.63)
Diluted earnings (loss) per common share | 0.11 | 0.27 | 0.25 | (2.26) | (1.63)


Question: Which quarter in 2019 has the largest operating revenue?
Answer: First Quarter
Calculation: 5,647>5,606>5,578>5,570
15. Revenue from Contracts with Customers
Impact of Adopting Topic 606
The Company adopted Topic 606 at the beginning of fiscal 2019 using the modified retrospective method. The new standard resulted in a change to the timing of revenue recognition for a significant portion of the Company's revenue, whereby revenue is recognized over time, as products are produced, as opposed to at a point in time based upon shipping terms. As a result of the adoption of Topic 606, the following adjustments were made to the opening balances of the Company's Consolidated Balance Sheets (in thousands):
The cumulative effect of applying the new guidance in Topic 606 resulted in the Company increasing its fiscal 2019 opening Retained earnings balance by$ 7.8 million due to certain customer contracts requiring revenue recognition over time. Contract assets in the amount of$ 76.4 million were recognized due to the recognition of revenue on an over time basis for some customers rather than at a specific point in time. Inventory declined $69.0 million primarily due to earlier recognition of costs related to the contracts for which revenue was recognized on an over time basis. The decline in other accrued liabilities is primarily due to the reclassification of deferred revenue to contract assets for prepayments associated with revenue recognized over time, partially offset by an increase in taxes payable associated with the increase in revenue recognized over time.
Table:
 | Balance at September 29, 2018  | Impacts due to adoption of Topic
606 | Balance at September 30, 2018
ASSETS |  |  | 
   Contract assets | $— | $76,417 | $76,417
   Inventories | 794,346 | (68,959) | 725,387
LIABILITIES AND SHAREHOLDERS' EQUITY |  |  | 
   Other accrued liabilities | $68,163 | $(357) | $67,806
   Retained earnings | 1,062,246 | 7,815 | 1,070,061


Question: What was the balance of contract assets after the adoption of Topic 606?
Answer: 76,417
In the following table, we provide information regarding our common stock repurchases under our publicly-announced share repurchase program for the quarter ended December 31, 2019. All repurchases related to the share repurchase program were made on
the open market.
During the year ended December 31, 2019, we repurchased a total of 1,640,055 shares at an average price per share of $70.65 under our publicly-announced share repurchase program. In January 2020, our Board of Directors authorized the Company to repurchase up to an aggregate of $50 million of the Company’s common stock.
Table:
Period | Total number of Shares Purchased | Average Price Paid per Share | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs | Maximum Number (or Approximate Dollar Value) of Shares that May Yet Be Purchased Under the Plans or Programs
October 1 - October 31, 2019 | 13,425 | $78.21 | 13,425 | $48,950,059
November 1 - November 30, 2019 | 245,454 | 76.95 | 245,454 | 30,062,919
December 1 - December 31, 2019 | 185,973 | 80.95 | 185,973 | 15,008,242
Total | 444,852 |  | 444,852 | 


Question: How many shares are repurchased in 2019 October?
Answer: 13,425
Revenue
Both reported and adjusted revenue fell by 1% as growth in our Consumer business, was more than offset by regulated price reductions in Openreach and declines in our enterprise businesses in particular in fixed voice and also reflecting our strategy to reduce low margin activity such as equipment sales. Excluding the negative impact of £35m from foreign exchange movements, underlying revenue fell 0.9% (2017/18: fell 1%), which exceeds our expectation of down around 2%.
You can find details of revenue by customer-facing unit on pages 40 to 41. Note 6 to the consolidated financial statements shows a full breakdown of reported revenue by all our major product and service categories.
Operating costs
Reported operating costs were down 2% and adjustedb operating costs before depreciation and amortisation were down 1%. This was mainly driven by restructuring related cost savings and lower payments to telecommunications operators driven by Global Services strategy to de-emphasise low margin business, partly offset by higher costs of recruiting and training engineers to support Openreach’s ‘Fibre First’ programme and help deliver improved customer service.
Our cost transformation programme remains on track. c4,000 roles were removed in the year, with the largest elements being in Global Services and our Corporate Units. Overall savings from the programme are currently an annualised benefit of £875m with an associated cost of £386m. Note 7 to the consolidated financial statements shows a detailed breakdown of our operating costs.
Note 7 to the consolidated financial statements shows a detailed breakdown of our operating costs.
a Excluding depreciation and amortisation.
Table:
 | 2019 | 2018 | 2017
Year ended 31 March | £m | £m | £m
Revenue | 23,428 | 23,723 | 24,062
Operating costs a | (16,461) | (16,828) | (17,323)
Depreciation and amortisation | (3,546) | (3,514) | (3,572)
Operating profit | 3,421 | 3,381 | 3,167
Net finance expense | (756) | (764) | (804)
Associates and joint ventures | 1 | (1) | (9)
Profit before tax | 2,666 | 2,616 | 2,354
Tax | (507) | (584) | (446)
Profit for the period | 2,159 | 2,032 | 1,908


Question: What was the reason for change in operating costs?
Answer: mainly driven by restructuring related cost savings and lower payments to telecommunications operators driven by Global Services strategy to de-emphasise low margin business, partly offset by higher costs of recruiting and training engineers to support Openreach’s ‘Fibre First’ programme and help deliver improved customer service.
Note 9 – Leases
We have operating leases for office space, automobiles and various other equipment in the U.S. and in certain international locations. We also reviewed other contracts, such as manufacturing agreements and service agreements, for potential embedded leases. We specifically reviewed these other contracts to determine whether we have the right to substantially all of the economic benefit from the use of any specified assets or the right to direct the use of any specified assets, either of which would indicate the existence of a lease.
As of December 31, 2019, our operating leases had remaining lease terms of one month to six years, some of which included options to extend the leases for up to nine years, and some of which included options to terminate the leases within three months. For those leases that are reasonably assured to be renewed, we have included the option to extend as part of our right of use asset and lease liability. Leases with an initial term of 12 months or less were not recorded on the balance sheet and lease expense for these leases is recognized on a straight-line basis over the lease term. Lease expense related to these short-term leases was $0.4 million for the twelve months ended December 31, 2019, and is included in cost of sales, selling, general and administrative expenses and research and development expenses in the Consolidated Statements of Income. Lease expense related to variable lease payments that do not depend on an index or rate, such as real estate taxes and insurance reimbursements, was $0.9 million for the twelve months ended December 31, 2019. For lease agreements entered into or reassessed after the adoption of Topic 842, we elected to not separate lease and nonlease components. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants.
Supplemental balance sheet information related to operating leases is as follows:
(1) Reflects the adoption of the new lease accounting standard on January 1, 2019.
Table:
(In thousands) | Classification | December 31, 2019 | January 1, 2019 (1)
Assets |  |  | 
Right of use lease assets | Other Assets | $8,452 | $10,322
Total lease asset |  | $8,452 | $10,322
Liabilities |  |  | 
Current lease liability | Accrued expenses | $2,676 | $2,948
Non-current lease liability | Other non-current liabilities | 5,818 | 7,374
Total lease liability |  | $8,494 | $10,322


Question: What was the right of use lease assets in December 2019?
Answer: $8,452
Revenues
Fiscal 2019 revenues from satellite programs, one of the Company’s largest business area, increased by $8.6 million, or 61%, compared to the prior fiscal year. For Fiscal 2019 satellite program revenues for government end use were 46% of total revenues as compared to 36% for the prior fiscal year. Satellite program revenues for commercial end use were 5% and 14% of total revenue for Fiscal 2019 and Fiscal 2018, respectively. Revenues on satellite program contracts are recorded in the FEI-NY segment and are recognized primarily under the POC method. Sales revenues from non-space U.S. Government/DOD customers increased by approximately $5.2 million or 29% in Fiscal 2019 compared to prior fiscal year. These revenues are recorded in both the FEI-NY and FEI-Zyfer segments and accounted for approximately 46% and 45% of consolidated revenues for fiscal years 2019 and 2018, respectively. For the year ended April 30, 2019, other commercial and industrial sales accounted for approximately 8% of consolidated revenues compared to approximately 19% for fiscal year 2018. Sales in this business area were $3.9 million for the year ended April 30, 2019 compared to $7.6 million for the preceding year. Changes in revenue for the current year are partially due to implementation of ASU 2014-09 (see Note 1 to the Consolidated Financial Statements).
Table:
 |  | Fiscal years ended April 30, (in thousands) |  | 
 |  |  | Change | 
 | 2019 | 2018 | $ | %
FEI-NY | $38,096 | $26,936 | $11,160 | 41%
FEI-Zyfer | 12,235 | 15,272 | (3,037 ) | (20%)
Intersegment sales | (822) | (2,801) | 1,979 | (71%)
 | $49,509 | $39,407 | $10,102 | 26%


Question: What is the average total revenue for fiscal years 2018 and 2019?
Answer: 44458
Calculation: (49,509+39,407)/2
Network advertising revenue is generated primarily from the sale of television airtime for programs or advertisements. Network advertising revenue is recognized when the program or advertisement is broadcast. Revenues are reported net of agency commissions, which are calculated as a stated percentage applied to gross billings. The Network advertising contracts are generally short-term in nature.
Network distribution revenue consists of payments received from cable, satellite and other multiple video program distribution systems for their retransmission of our network content. Network distribution revenue is recognized as earned over the life of the retransmission consent contract and varies from month to month.
Variable fees are usage/sales based, calculated on the average number of subscribers, and recognized as revenue when the usage occurs. Transaction prices are based on the contract terms, with no material judgments or estimates.
Broadcast station revenue is generated primarily from the sale of television airtime in return for a fixed fee or a portion of the related ad sales recognized by the third party. In a typical broadcast station revenue agreement, the licensee of a station makes available, for a fee, airtime on its station to a party which supplies content to be broadcast during that airtime and collects revenue from advertising aired during such content.
Broadcast station revenue is recognized over the life of the contract, when the program is broadcast. The fees that we charge can be fixed or variable and the contracts that the Company enters into are generally short-term in nature. Variable fees are usage/salesbased and recognized as revenue when the subsequent usage occurs. Transaction prices are based on the contract terms, with no material judgments or estimates.
Disaggregation of Revenues The following table disaggregates the Broadcasting segment's revenue by type (in millions):
Table:
 | Years Ended December 31, | 
 | 2019 | 2018
Network advertising | $22.7 | $28.2
Broadcast station | 11.9 | 10.8
Network distribution | 4.9 | 4.8
Other | 2.3 | 1.6
Total revenue from contracts with customers | 41.8 | 45.4
Other revenue | - | -
Total Broadcasting segment revenue | $ 41.8 | $ 45.4


Question: What is the average broadcast station?
Answer: 11.35
Calculation: (11.9 + 10.8) / 2
CTS CORPORATION AND SUBSIDIARIES Consolidated Statements of Comprehensive Earnings (in thousands)
The accompanying notes are an integral part of the consolidated financial statements.
Table:
 |  | Years Ended December 31, | 
 | 2019 | 2018 | 2017
Net earnings | $36,146 | $46,532 | $14,448
Other comprehensive earnings (loss): |  |  | 
Changes in fair market value of derivatives, net of tax | (509) | 795 | 110
Changes in unrealized pension cost, net of tax | 6,439 | (1,830) | 13,687
Cumulative translation adjustment, net of tax | 83 | (311) | 437
Other comprehensive earnings (loss) | $6,013 | $(1,346) | $14,234
Comprehensive earnings | $42,159 | $45,186 | $28,682


Question: What was the percentage change in Comprehensive earnings between 2017 and 2018?
Answer: 57.54
Calculation: (45,186-28,682)/28,682
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: Who can contribute to the ESP?
Answer: employees, employer
table of contents the following table discloses purchases of shares of our common stock made by us or on our behalf during the fourth quarter of 2016 . period total number of shares purchased average price paid per share total number of shares not purchased as part of publicly announced plans or programs ( a ) total number of shares purchased as part of publicly announced plans or programs approximate dollar value of shares that may yet be purchased under the plans or programs ( b ) .

Table:
period | total numberof sharespurchased | averageprice paidper share | total number ofshares notpurchased as part ofpublicly announcedplans or programs ( a ) | total number ofshares purchased aspart of publiclyannounced plans orprograms | approximate dollarvalue of shares thatmay yet be purchasedunder the plans orprograms ( b )
october 2016 | 433272 | $ 52.69 | 50337 | 382935 | $ 2.7 billion
november 2016 | 667644 | $ 62.25 | 248349 | 419295 | $ 2.6 billion
december 2016 | 1559569 | $ 66.09 | 688 | 1558881 | $ 2.5 billion
total | 2660485 | $ 62.95 | 299374 | 2361111 | $ 2.5 billion
( a ) the shares reported in this column represent purchases settled in the fourth quarter of 2016 relating to ( i ) our purchases of shares in open-market transactions to meet our obligations under stock-based compensation plans , and ( ii ) our purchases of shares from our employees and non-employee directors in connection with the exercise of stock options , the vesting of restricted stock , and other stock compensation transactions in accordance with the terms of our stock-based compensation plans .
( b ) on july 13 , 2015 , we announced that our board of directors authorized our purchase of up to $ 2.5 billion of our outstanding common stock .
this authorization has no expiration date .
as of december 31 , 2016 , the approximate dollar value of shares that may yet be purchased under the 2015 authorization is $ 40 million .
on september 21 , 2016 , we announced that our board of directors authorized our purchase of up to an additional $ 2.5 billion of our outstanding common stock with no expiration date .
as of december 31 , 2016 , no purchases have been made under the 2016 authorization. .

Question: for the quarter ended december 31 , 2016 what was the percent of the total number of shares purchased in november
Answer: 25.1%
Calculation: divide(667644, 2660485)
Notes to Consolidated Financial Statements - (Continued) Fiscal Years Ended May 26, 2019, May 27, 2018, and May 28, 2017 (columnar dollars in millions except per share amounts) General
The Revolving Credit Facility (as defined in Note 5) and the Term Loan Agreement generally require our ratio of earnings before interest, taxes, depreciation and amortization ("EBITDA") to interest expense not to be less than 3.0 to 1.0 and our ratio of funded debt to EBITDA not to exceed certain decreasing specified levels, ranging from 5.875 through the first quarter of fiscal 2020 to 3.75 from the second quarter of fiscal 2023 and thereafter, with each ratio to be calculated on a rolling fourquarter basis. As of May 26, 2019, we were in compliance with all financial covenants under the Revolving Credit Facility and the Term Loan Agreement.
Net interest expense consists of:
Interest paid from continuing operations was $375.6 million, $164.5 million, and $223.7 million in fiscal 2019, 2018, and 2017, respectively.
Table:
 | 2019 | 2018 | 2017
Long-term debt | $385.9 | $161.2 | $203.6
Short-term debt | 15.0 | 4.8 | 0.6
Interest income | (6.8) | (3.8) | (3.7)
Interest capitalized | (2.7) | (3.5) | (5.0)
 | $391.4 | $158.7 | $195.5


Question: What is the ratio of net interest expense of long-term debt to interest paid from continuing operations in 2019?
Answer: 1.03
Calculation: 385.9/375.6
GWL Corporate Free Cash Flow(1)
Following the reorganization of Choice Properties to GWL, management evaluates the cash generating capabilities of GWL Corporate(2) based on the various cash flow streams it receives from its operating subsidiaries. As a result, the GWL Corporate free cash flow(1) is based on the dividends received from Loblaw, distributions received from Choice Properties and net cash flow contributions received from Weston Foods less corporate expenses, interest and income taxes paid. Lease payments are excluded from the calculation of GWL Corporate free cash flow(1) to normalize for the impact of the implementation of IFRS 16.
(i) Included in Other and Intersegment, GWL Corporate includes all other company level activities that are not allocated to the reportable operating segments, such as net interest expense, corporate activities and administrative costs. Also included are preferred share dividends paid.
Table:
For the quarters and years ended December 31 | Quarters ended |  | Yeas ended | 
($ millions) | 2019 | 2018 | 2019 | 2018
Weston Foods adjusted EBITDA(1) | 56 | 59 | 223 | 233
Weston Foods capital expenditures | (70) | (91) | (194) | (212)
Distributions from Choice Properties | 82 | 43 | 325 | 43
Dividends from Loblaw | – | – | 233 | 212
Weston Foods income taxes paid | – | (2) | (7) | (32)
Other | 64 | 21 | (41) | (23)
GWL Corporate cash flow from operating businesses (1) | 132 | 30 | 539 | 221
GWL Corporate and financing costs (i) | (24) | (33) | (109) | (108)
Income taxes paid | (4) | (2) | (19) | (14)
GWL Corporate free cash flow (1) | 104 | (5) | 411 | 99


Question: What is the increase / (decrease) in the Weston Foods adjusted EBITDA from 2018 to 2019?
Answer: -3
Calculation: 56 - 59