hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
21 Share-based payments
(a) Performance rights
The performance rights plan was established by the Board of Directors to provide long-term incentives to the Group’s Senior Executives based on total shareholder returns (TSR) taking into account the Group’s financial and operational performance. Under the Plan, eligible participants may be granted performance rights on terms and conditions determined by the Board from time to time. Performance rights were granted during the course of FY17, FY18 and FY19. The vesting conditions for grants relate to TSR exceeding the ASX 200 Accumulation Index over the measurement period. Vesting of the rights will be tested on or around the day following the release of each of the annual results for the years ended 30 June 2019, 2020 and 2021 respectively.
Performance rights are granted by the Company for nil consideration. The Board has discretion to determine if the value will be provided in shares, cash or a combination of shares and cash. Rights granted under the plan carry no dividend or voting rights.
The fair value of the rights at the date of valuation was determined using the Black-Scholes Option Pricing Model to be equal to the volume weighted-average price (VWAP) ending on the day before the grant date, less the dividends expected over the period from the expected grant date to the completion of the measurement period, adjusted for the expected probability of achieving the vesting conditions.
Table:
 | 30 June 2019 | 30 June 2019 | 30 June 2018 | 30 June 2018
 | Number of Rights | Average Fair Value | Number of Rights | Average Fair Value
Opening balance | 2,948,960 | $1.87 | 3,460,195 | $1.26
Granted during the year | 828,285 | $3.07 | 762,577 | $3.32
Vested during the year | (1,307,885) | $1.19 | (1,273,812) | $1.09
Forfeited during the year | - | $0.00 | - | $0.00
Closing balance | 2,469,360 | $2.64 | 2,948,960 | $1.87


Question: Which year had more rights vested?
Answer: 2019
Calculation: 2019: (1,307,885) vs 2018: (1,273,812)
REVENUE
(1) Fiscal 2019 average foreign exchange rate used for translation was 1.3255 USD/CDN.
(2) Fiscal 2018 was restated to comply with IFRS 15 and to reflect a change in accounting policy as well as to reclassify results from Cogeco Peer 1 as discontinued operations. For further details, please consult the "Accounting policies" and "Discontinued operations" sections.
(3) Fiscal 2019 actuals are translated at the average foreign exchange rate of fiscal 2018 which was 1.2773 USD/CDN.
Fiscal 2019 revenue increased by 8.6% (6.8% in constant currency) resulting from: • a growth in the American broadband services segment mainly due to the impact of the MetroCast acquisition which was included in revenue for only an eight-month period in the prior year combined with strong organic growth and the acquisition of the south Florida fibre network previously owned by FiberLight, LLC (the "FiberLight acquisition"); partly offset by • a decrease in the Canadian broadband services segment mainly as a result of: ◦ a decline in primary service units in the fourth quarter of fiscal 2018 and the first quarter of 2019 from lower service activations primarily due to issues resulting from the implementation of a new customer management system; partly offset by ◦ rate increases; and ◦ higher net pricing from consumer sales.
For further details on the Corporation’s revenue, please refer to the "Segmented operating and financial results" section.
Table:
Years ended August 31, |  |  |  |  | 
(in thousands of dollars, except percentages) | 2019 (1) $ | 2018 (2) $ | Change % | Change in constant currency (3) % | Foreign exchange impact (3) $
Canadian broadband services | 1,294,967 | 1,299,906 | (0.4) | (0.4) | -
American broadband services | 1,036,853 | 847,372 | 22.4 | 17.9 | 37,433
Inter-segment eliminations and other | - | 126 | (100.0) | (100.0) | -
 | 2,331,820 | 2,147,404 | 8.6 | 6.8 | 37,433


Question: What was the average foreign exchange rate of fiscal 2018?
Answer: 1.2773 USD/CDN
Non-current provisions
Non-current provisions consisted of the following:
The non-current provision for employee benefits includes long service leave as described above.
The dilapidation provision relates to certain lease arrangements for office space entered into by the Group. These lease arrangements require the Group to restore each premises to its original condition upon lease termination. Accordingly, the Group records a provision for the present value of the estimated future costs to retire long-lived assets at the expiration of these leases.
Table:
 | As of June 30, | 
 | 2019 | 2018
 | (U.S. $ in thousands) | 
Employee benefits | $3,323 | $2,094
Dilapidation provision | 2,759 | 2,269
 | $6,082 | $4,363


Question: What is the total non-current provisions for fiscal years 2018 and 2019 respectively?
Answer: $4,363, $6,082
CASH FLOW ANALYSIS
(1) Fiscal 2018 was restated to comply with IFRS 15 and to reflect a change in accounting policy as well as to reclassify results from Cogeco Peer 1 as discontinued operations. For further details, please consult the "Accounting policies" and "Discontinued operations" sections. (2) For further details on the Corporation's cash flow attributable to discontinued operations, please consult the "Discontinued operations" section.
OPERATING ACTIVITIES Fiscal 2019 fourth-quarter cash flow from operating activities increased by 19.3% compared to the same period of the prior year mainly from: • higher adjusted EBITDA; • the decreases in income taxes paid and financial expense paid; and • the increase in changes in non-cash operating activities primarily due to changes in working capital.
INVESTING ACTIVITIES Fiscal 2019 fourth-quarter investing activities decreased by 25.8% compared to the same period of the prior year mainly due to the acquisition of spectrum licenses in the Canadian broadband services segment in the comparable period of the prior year combined with a decrease in acquisitions of property, plant and equipment.
Table:
Three months ended August 31, | 2019 | 2018 (1) | Change
(in thousands of dollars, except percentages) | $ | $ | %
Cash flow from operating activities | 304,702 | 255,438 | 19.3
Cash flow from investing activities | (144,332) | (194,474) | (25.8)
Cash flow from financing activities | (50,198) | (52,127) | (3.7)
Effect of exchange rate changes on cash and cash equivalents denominated in a foreign currency | (1,405) | (63) | —
Net change in cash and cash equivalents from continuing operations | 108,767 | 8,774 | —
Net change in cash and cash equivalent from discontinued operations(2) | — | 13,133 | (100.0)
Cash and cash equivalents, beginning of the period | 447,737 | 62,818 | —
Cash and cash equivalents, end of the period | 556,504 | 84,725 | —


Question: What was the average Cash flow from financing activities?
Answer: -51162.5
Calculation: -(50,198 + 52,127) / 2
Note 15 Leases
RIGHT-OF-USE ASSETS
BCE’s significant right-of-use assets under leases are satellites, office premises, land, cellular tower sites, retail outlets and OOH advertising spaces. Right-of-use assets are presented in Property, plant and equipment in the statement of financial position.
Table:
FOR THE YEAR ENDED DECEMBER 31, 2019 | NETWORK INFRASTRUCTURE AND EQUIPMENT | LAND AND BUILDINGS | TOTAL
COST |  |  | 
January 1, 2019 | 3,329 | 2,453 | 5,782
Additions | 527 | 513 | 1,040
Transfers | (233) | – | (233)
Acquired through business combinations | – | 8 | 8
Lease terminations | (12) | (38) | (50)
Impairment losses recognized in earnings | (2) | (3) | (5)
December 31, 2019 | 3,609 | 2,933 | 6,542
ACCUMULATED DEPRECIATION |  |  | 
January 1, 2019 | 1,042 | 536 | 1,578
Depreciation | 373 | 303 | 676
Transfers | (111) | – | (111)
Lease terminations | (3) | (22) | (25)
December 31, 2019 | 1,301 | 817 | 2,118
NET CARRYING AMOUNT |  |  | 
January 1, 2019 | 2,287 | 1,917 | 4,204
December 31, 2019 | 2,308 | 2,116 | 4,424


Question: What are BCE's significant right-of-use assets under leases?
Answer: satellites, office premises, land, cellular tower sites, retail outlets and OOH advertising spaces
3.1 OPERATING RESULTS
(1) Fiscal 2019 average foreign exchange rate used for translation was 1.3255 USD/CDN.
(2) Fiscal 2018 was restated to comply with IFRS 15 and to reflect a change in accounting policy as well as to reclassify results from Cogeco Peer 1 as discontinued
operations. For further details, please consult the "Accounting policies" and "Discontinued operations" sections.
(3) Fiscal 2019 actuals are translated at the average foreign exchange rate of fiscal 2018 which was 1.2773 USD/CDN.
Table:
Years ended August 31, | 2019 (1) | 2018 (2) | Change | Change in constant currency (3) | Foreign exchange impact (3)
(in thousands of dollars, except percentages) | $ | $ | % | % | $
Revenue | 2,331,820 | 2,147,404 | 8.6 | 6.8 | 37,433
Operating Expenses | 1,203,980 | 1,121,625 | 7.3 | 5.4 | 21,636
Management fees – Cogeco Inc. | 19,900 | 18,961 | 5.0 | 5.0 | -
Adjusted EBITDA | 1,107,940 | 1,006,818 | 10.0 | 8.5 | 15,797
Adjusted EBITDA margin | 47.5% | 46.9% |  |  | 


Question: What was the 2019 exchange rate?
Answer: 1.3255 USD/CDN.
Review of operations
The Group’s operating performance for the fiscal year compared to last year is as follows:
1. The Directors believe the information additional to IFRS measures included in the report is relevant and useful in measuring the financial performance of the Group. These include: EBITDA, NPATA and EPSa. These measures have been defined in the Chairperson and Chief Executive Officer’s Joint Report on page 2.
In 2019 the business continued to deliver strong results after the record 2018 year. Revenues and EBITDA were in line with guidance. Further details on the Group’s results are outlined in the Chairperson and Chief Executive Officer’s Joint Report on page 2.
On 1 June 2019, Hansen acquired the Sigma Systems business (Sigma) and one month of these results are included in the FY19 result. Also included in the results are the transaction and other restructuring costs related to the acquisition, which we have identified as separately disclosed items in our results.
This acquisition has also resulted in the re-balancing of the Group’s market portfolio which, post the acquisition of Enoro in FY18, was initially weighted towards the Utilities sector. With Sigma’s revenues concentrated in the Communications sector, the Group’s revenue portfolio is now re-balanced to ensure greater diversification across multiple industries, regions and clients.
The Group has generated operating cash flows of $39.7 million, which has been used to retire external debt and fund dividends of $12.6 million during the financial year. With the introduction of a higher level of debt in June 2019 to fund the Sigma acquisition, the Group has, for the first time, used the strength of the Group’s balance sheet to fund 100% of an acquisition. With the Group’s strong cash generation, Hansen is well placed to service and retire the debt over the coming years.
Table:
 | 2019 | 2018 | 
 | A$ Million | A$ Million | Variance %
Operating revenue | 231.3 | 230.8 | 0.2%
EBITDA1 | 53.0 | 59.3 | (10.6%)
NPAT | 21.5 | 28.9 | (25.6%)
NPATA1 | 31.2 | 38.0 | (17.9%)
Basic earnings per share (EPS) (cents) | 10.9 | 14.8 | (26.4%)
Basic EPSa1 (cents) | 15.8 | 19.4 | (18.6%)


Question: What was the average basic EPSa for both FYs?
Answer: 17.6
Calculation: (15.8 + 19.4)/2
VMware Stock Repurchases
VMware purchases stock from time to time in open market transactions, subject to market conditions. The timing of any repurchases and the actual number of shares repurchased will depend on a variety of factors, including VMware’s stock price, cash requirements for operations and business combinations, corporate, legal and regulatory requirements and other market and economic conditions. VMware is not obligated to purchase any shares under its stock repurchase programs. Purchases can be discontinued at any time VMware believes additional purchases are not warranted. From time to time, VMware also purchases stock in private transactions, such as those with Dell. All shares repurchased under VMware’s stock repurchase programs are retired.
The following table summarizes stock repurchase activity, including shares purchased from Dell, during the periods presented (aggregate purchase price in millions, shares in thousands):
(1) The aggregate purchase price of repurchased shares is classified as a reduction to additional paid-in capital until the balance is reduced to zero and the excess is recorded as a reduction to retained earnings.
Table:
 |  | For the Year Ended | 
 | January 31, 2020 | February 1, 2019 | February 2, 2018
Aggregate purchase price (1) | $1,334 | $42 | $1,449
Class A common stock repurchased | 7,664 | 286 | 13,977
Weighted-average price per share | $174.02 | $148.07 | $103.66


Question: What was the change in Aggregate purchase price between 2018 and 2019?
Answer: -1407
Calculation: 42-1,449
The Company estimates the fair values of stock options using the Black-Scholes option-pricing model on the date of grant.For the years ended December 31, 2019 and 2018, the assumptions used in the Black-Scholes option pricing model, which was used to estimate the grant date fair value per option, were as follows:
The risk-free interest rate is the United States Treasury rate for the day of the grant having a term equal to the life of the equity instrument. The volatility is a measure of the amount by which the Company’s share price has fluctuated or is expected to fluctuate; the Company used its common stock volatility along with the average of historic volatilities of comparative companies. The dividend yield is zero as the Company has not made any dividend payment and has no plans to pay dividends in the foreseeable future. The Company determines the expected term of its stock option awards by using the simplified method, which assumes each vesting tranche of the award has a term equal to average of the contractual term and the vesting period.
As of December 31, 2019, total compensation cost not yet recognized related to unvested stock options was approximately $0.8 million, which is expected to be recognized over a weighted-average period of 2.3 years.
Table:
 | 2019 | 2018
 | Employee Grants | Employee Grants
Weighted-average Black-Scholes option pricing model assumptions: |  | 
Volatility | 73.01% | 82.00%
Expected term (in years) | 6 | 6
Risk-free rate | 2.22% | 2.24%
Expected dividend yield | 0.0% | 0.0%
Weighted average grant date fair value per share | $2.10 | $2.22


Question: What is the average risk-free rate in 2018 and 2019?
Answer: 2.23
Calculation: (2.24 + 2.22)/2
Reconciliations between the amounts computed by applying the U.S. federal statutory tax rate to loss before income taxes, and income tax expense (benefit) follows (in thousands):
We determined no material liabilities related to uncertain income tax positions existed as of December 31, 2019 or 2018, based on our analysis of tax positions taken on income tax returns filed. Although we believe the amounts reflected in our tax returns substantially comply with applicable U.S. federal, state, and foreign tax regulations, the respective taxing authorities may take contrary positions based on their interpretation of the law. A tax position successfully challenged by a taxing authority could result in an adjustment to our provision or benefit for income taxes in the period in which a final determination is made.
Table:
Year Ended December 31 |  | 
 | 2019 | 2018
Income tax benefit at federal statutory rate | $(2,928) | $(1,692)
Increase (decrease) resulting from: |  | 
State tax benefit, net of federal tax effect | (437) | (184)
Effect of change in state tax rate | (26) | 146
Change in valuation allowance | 3,341 | (8,474)
Expirations of net operating losses and application of IRC 382 limitation | 7 | 9,939
Adjustments to deferreds | (29) | 321
Other | 72 | (11)
Income tax expense | $          - | $           45


Question: What are the respective state tax benefit, net of federal tax effect in 2018 and 2019?
Answer: 184, 437
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: What was the decrease in Selling, general and administrative in 2019?
Answer: $13.0 million
Amounts recognised in the balance sheet are as follows:
The surplus of £2.2m (2018: £1.3m) has not been recognised as an asset as it is not deemed to be recoverable by the Group.
Table:
 | 2019 | 2018
 | £m | £m
Present value of funded obligations | 20.0 | 19.7
Fair value of plan assets | (22.2) | (21.0)
Effect of surplus cap | 2.2 | 1.3
Net asset recognised in the Consolidated balance sheet | – | –


Question: What are the components considered under the Net asset recognised in the Consolidated balance sheet?
Answer: Present value of funded obligations, Fair value of plan assets, Effect of surplus cap
table of contents the following performance graph is not 201csoliciting material , 201d is not deemed filed with the sec , and is not to be incorporated by reference into any of valero 2019s filings under the securities act of 1933 or the securities exchange act of 1934 , as amended , respectively . this performance graph and the related textual information are based on historical data and are not indicative of future performance . the following line graph compares the cumulative total return 1 on an investment in our common stock against the cumulative total return of the s&p 500 composite index and an index of peer companies ( that we selected ) for the five-year period commencing december 31 , 2007 and ending december 31 , 2012 . our peer group consists of the following ten companies : alon usa energy , inc. ; bp plc ( bp ) ; cvr energy , inc. ; hess corporation ; hollyfrontier corporation ; marathon petroleum corporation ; phillips 66 ( psx ) ; royal dutch shell plc ( rds ) ; tesoro corporation ; and western refining , inc . our peer group previously included chevron corporation ( cvx ) and exxon mobil corporation ( xom ) but they were replaced with bp , psx , and rds . in 2012 , psx became an independent downstream energy company and was added to our peer group . cvx and xom were replaced with bp and rds as they were viewed as having operations that more closely aligned with our core businesses . comparison of 5 year cumulative total return1 among valero energy corporation , the s&p 500 index , old peer group , and new peer group .

Table:
 | 12/2007 | 12/2008 | 12/2009 | 12/2010 | 12/2011 | 12/2012
valero common stock | $ 100.00 | $ 31.45 | $ 25.09 | $ 35.01 | $ 32.26 | $ 53.61
s&p 500 | 100.00 | 63.00 | 79.67 | 91.67 | 93.61 | 108.59
old peer group | 100.00 | 80.98 | 76.54 | 88.41 | 104.33 | 111.11
new peer group | 100.00 | 66.27 | 86.87 | 72.84 | 74.70 | 76.89
____________ 1 assumes that an investment in valero common stock and each index was $ 100 on december 31 , 2007 .
201ccumulative total return 201d is based on share price appreciation plus reinvestment of dividends from december 31 , 2007 through december 31 , 2012. .

Question: what was the biggest decline , in percentage , from 2007-2008 , among the four groups?
Answer: 68.55%
Calculation: subtract(const_100, 31.45), divide(#0, const_100)
a) Vessels Under Construction and Upgrades
Teekay LNG's share of commitments to fund newbuilding and other construction contract costs as at December 31, 2019 are as follows:
(i) In June 2019, Teekay LNG entered into an agreement with a contractor to supply equipment on certain of its LNG carriers in 2021 and 2022, for an estimated installed cost of approximately $60.6 million. As at December 31, 2019, the estimated remaining cost of this installation is $49.7 million.
(ii) Teekay LNG has a 30% ownership interest in the Bahrain LNG Joint Venture which has an LNG receiving and regasification terminal in Bahrain. The Bahrain LNG Joint Venture has secured undrawn debt financing of $34 million, of which $10 million relates to Teekay LNG's proportionate share of the commitments included in the table above.
Table:
 | Total | 2020 | 2021 | 2022
 | $ | $ | $ | $
Consolidated LNG carriers (i) | 49,652 | 11,979 | 22,382 | 15,291
Bahrain LNG Joint Venture (ii) | 11,351 | 11,351 | — | —
 | 61,003 | 23,330 | 22,382 | 15,291


Question: What as the remaining cost of installation as at December 31, 2019?
Answer: As at December 31, 2019, the estimated remaining cost of this installation is $49.7 million.
Stock-Based Compensation Expense
Stock-based compensation expense is included in the consolidated statements of operations as follows (in millions):
As of April 26, 2019, total unrecognized compensation expense related to our equity awards was $285 million, which is expected to be recognized on a straight-line basis over a weighted-average remaining service period of 2.1 years.
Table:
 |  | Year Ended | 
 | April 26, 2019 | April 27, 2018 | April 28, 2017
Cost of product revenues | $ 4 | $ 3 | $ 4
Cost of hardware maintenance and other services revenues | 10 | 10 | 13
Sales and marketing | 67 | 68 | 84
Research and development | 48 | 49 | 59
General and administrative | 29 | 31 | 35
Total stock-based compensation expense | $ 158 | $ 161 | $ 195
Income tax benefit for stock-based compensation | $ 15 | $ 29 | $ 41


Question: How many years did the sales and marketing expense exceed $60 million?
Answer: 3
Calculation: 2019##2018##2017
2.1 Segment information
Segment information is based on the information that management uses to make decisions about operating matters and allows users to review operations through the eyes of management. We present our reportable segments and measure our segment results on continuing operations basis, i.e. the same basis as our internal management reporting structure.
We have four reportable segments which offer a service that includes comparison, purchase support and lead referrals across:
• Health (private health insurance),
• Life and General Insurance,
• Energy and Telecommunications, and
• Other, predominately offering financial service products including home loans in Australia and Asia.
In the current year, unallocated corporate costs include costs associated with the business restructure and other one-off transactions.
1 Non-current assets other than financial instruments and deferred tax assets.
Table:
 | AUSTRALIA | ASIA | TOTAL
 | $’000 | $’000 | $’000
30 June 2019 |  |  | 
Revenue | 149,295 | 4,864 | 154,159
Non-current assets1 | 44,061 | 15,899 | 59,960
30 June 2018 |  |  | 
Revenue | 174,776 | 2,155 | 176,931
Non-current assets1 | 49,235 | 15,245 | 64,480


Question: What is the percentage change in the revenue in Australia from 2018 to 2019?
Answer: -14.58
Calculation: (149,295-174,776)/174,776