hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
8.1 CAPITAL STRUCTURE
The table below summarizes debt-related financial ratios over the last two fiscal years and the fiscal 2020 guidelines:
(1) Based on mid-range guidelines. (2) Excludes amortization of deferred transaction costs and commitment fees but includes the impact of interest rate swaps. Potential variations in the US LIBOR rates in fiscal 2020 have not been considered. (3) Taking into consideration the interest rate swaps in effect at the end of each fiscal year. (4) Net indebtedness is defined as the aggregate of bank indebtedness, balance due on business combinations and principal on long-term debt, less cash and cash equivalents. (5) Adjusted EBITDA and financial expense for fiscal year 2018 include only eight months of MetroCast operations. (6) Specific guidance on interest coverage cannot be provided given that financial expense guidance is not provided.
In fiscal 2019, the financial leverage ratio relating to net indebtedness over adjusted EBITDA has declined as a result of the sale of Cogeco Peer 1 on April 30, 2019 for a net cash consideration of $720 million and to a lesser extent growing adjusted EBITDA and a reduction in net indebtedness from generated free cash flow. In fiscal 2020, prior to the adoption of IFRS 16 Leases, the financial leverage ratio relating to net indebtedness over adjusted EBITDA should continue to decline as a result of growing adjusted EBITDA and a projected reduction in net indebtedness from generated free cash flow.
Table:
Years ended August 31, | 2020 Guidelines(1) | 2019 | 2018
Average cost of indebtedness(2) | 4.4% | 4.4% | 4.4%
Fixed rate indebtedness(3) | 78% | 78% | 72%
Average term: long-term debt (in years) | 3.9 | 4.9 | 5.7
Net indebtedness(4) / adjusted EBITDA(5) | 2.3 | 2.6 | 3.8
Adjusted EBITDA / financial expense(5) | N/A (6) | 6.3 | 5.4


Question: What was the average Net indebtedness / adjusted EBITDA for Fiscal 2019 and 2020?
Answer: 2.45
Calculation: (2.3 + 2.6) / 2
In accordance with ASC 740-10, Income Taxes, the Company has adopted the accounting policy that interest and penalties recognized are classified as part of its income taxes
The following shows the changes in the gross amount of unrecognized tax benefits as of December 31, 2019 (in thousands):
The Company does not anticipate that its total unrecognized tax benefits will significantly change due to settlement of examination or the expiration of statute of limitations during the next 12 months.
The Company files U.S. and foreign income tax returns with varying statutes of limitations. Due to the Company’s net carry-over of unused operating losses and tax credits, all years from 2003 forward remain subject to future examination by tax authorities
Table:
 | 2019 | 2018 | 2017
Unrecognized tax benefits, beginning of the year | $6,029 | $3,004 | $2,460
Increases related to prior year tax position | — | 1,050 | —
Decreases related to prior year tax positions | (48) | — | (3)
Increases related to current year tax positions | 2,984 | 1,975 | 547
Unrecognized tax benefits, end of year | $8,965 | 6,029 | 3,004


Question: What is the percentage change in the unrecognized tax benefits at the beginning of the year between 2018 and 2019?
Answer: 100.7
Calculation: (6,029 - 3,004)/3,004
MANAGEMENT DISCUSSION SNAPSHOT
* (1.0) percent adjusted for currency; 0.2 percent excluding divested businesses and adjusted for currency.
** 2019 results were impacted by Red Hat purchase accounting and acquisition-related activity.
+ Includes charges of $2.0 billion or $2.23 of diluted earnings per share in 2018 associated with U.S. tax reform.
++At December 31
Table:
($ and shares in millions except per share amounts) |  |  | 
For the year ended December 31: | 2019 | 2018 | Yr.-to-Yr. Percent/Margin Change**
Revenue | $ 77,147 | $ 79,591 | (3.1)%*
Gross profit margin | 47.3% | 46.4% | 0.9 pts.
Total expense and other (income) | $ 26,322 | $ 25,594 | 2.8%
Income from continuing operations before income taxes | $ 10,166 | $ 11,342 | (10.4)%
Provision for income taxes from continuing operations | $    731 | 2,619+ | (72.1)%
Income from continuing operations | $  9,435 | 8,723+ | 8.2%
Income from continuing operations margin | 12.2% | 11.0% | 1.3 pts.
Net income | $  9,431 | 8,728+ | 8.1%
Earnings per share from continuing operations—assuming dilution | $  10.57 | 9.51+ | 11.1%
Weighted-average shares outstanding—assuming dilution | 892.8 | 916.3 | (2.6)%
Assets++ | $152,186 | $123,382 | 23.3%
Liabilities++ | $131,202 | $106,452 | 23.2%
Equity++ | $ 20,985 | $ 16,929 | 24.0%


Question: What impacted the 2019 results?
Answer: 2019 results were impacted by Red Hat purchase accounting and acquisition-related activity
Note 13. Basic and Diluted Net Loss Per Share
Basic net loss per share is computed by dividing the net loss by the weighted-average number of shares of common stock outstanding during the period, less the weighted-average unvested common stock subject to repurchase or forfeiture as they are not deemed to be issued for accounting purposes. Diluted net loss per share is computed by giving effect to all potential shares of common stock, stock options, restricted stock units, ESPP, and convertible senior notes, to the extent dilutive. For the periods presented, all such common stock equivalents have been excluded from diluted net loss per share as the effect to net loss per share would be anti-dilutive.
The following table sets forth the computation of the Company’s basic and diluted net loss per share during the years ended December 31, 2019, 2018 and 2017 (in thousands, except per share data)
Table:
 |  | Year Ended December 31, | 
 | 2019 | 2018 | 2017
Numerator |  |  | 
Net loss | $(53,607) | $(26,203) | $(4,204)
Denominator |  |  | 
Weighted-average common shares for basic and diluted net loss per share | 83,130 | 79,500 | 76,281
Basic and diluted net loss per share | $(0.64) | $(0.33) | $(0.06)


Question: What are the respective eighted-average common shares for basic and diluted net loss per share in 2018 and 2019?
Answer: 79,500, 83,130
1. Description of the business and summary of significant accounting policies: (Continued)
Shares of restricted stock are included in the computation of basic EPS as they vest and are included in diluted EPS, to the extent they are dilutive, determined using the treasury stock method.
The following details the determination of the diluted weighted average shares:
Table:
 | Year Ended December 31, 2019 | Year Ended December 31, 2018 | Year Ended December 31, 2017
Weighted average common shares—basic | 45,542,315 | 45,280,161 | 44,855,263
Dilutive effect of stock options | 32,222 | 33,134 | 31,534
Dilutive effect of restricted stock | 505,858 | 467,659 | 297,406
 | 46,080,395 | 45,780,954 | 45,184,203


Question: What are the respective number of dilutive effect of stock options in 2018 and 2019?
Answer: 33,134, 32,222
Compensation of Key Management Personnel (Including Directors)
Short-term employee benefits comprise fees, salaries, benefits and bonuses earned during the year as well as nonmonetary benefits.
Post-employment benefits comprise the cost of providing defined contribution pensions to senior management in respect of the current period.
Share-based payments comprise the cost of senior management’s participation in share-based payment plans for the period as measured by the fair value of awards in accordance with IFRS2.
Table:
 | Year-ended 31 March 2019 | Year-ended 31 March 2018
 | $M | $M
Short-term employee benefits | 6.6 | 9.1
Post-employment benefits | 0.1 | 0.1
Share-based payments - equity-settled | 10.4 | 17.7
Total | 17.1 | 26.9


Question: In which year was the Total compensation of key management personnel larger?
Answer: 2018
Calculation: 26.9>17.1
* 2019 results were impacted by Red Hat purchase accounting and acquisition-related activity.
Total expense and other (income) increased 13.7 percent in the fourth quarter with an expense-to-revenue ratio of 32.6 percent compared to 28.7 percent in the fourth quarter of 2018. The year-to-year increase was a result of higher spending (15 points) driven by Red Hat (15 points) and higher acquisitionrelated charges and amortization of acquired intangible assets associated with the Red Hat transaction (4 points), partially offset by higher divestiture gains (3 points) and lower non-operating retirement-related costs (3 points).
Total operating (non-GAAP) expense and other income increased 14.7 percent year to year primarily driven by the higher spending, partially offset by the divestiture gains, as described above.
Table:
($ in millions) |  |  | 
For the fourth quarter: | 2019 | 2018 | Yr.-to-Yr. Percent/ Margin Change*
Total consolidated expense and other (income) | $7,107 | $6,253 | 13.7%
Non-operating adjustments |  |  | 
Amortization of acquired intangible assets | (294) | (106) | 176.0
Acquisition-related charges | (27) | (13) | 104.7
Non-operating retirement related (costs)/income | (196) | (387) | (49.4)
Operating (non-GAAP) expense and other (income) | $6,591 | $5,746 | 14.7%
Total consolidated expense-to-revenue ratio | 32.6% | 28.7% | 3.9pts
Operating (non-GAAP) expense-to-revenue ratio | 30.3% | 26.4% | 3.9pts


Question: What was the increase / (decrease) in Total consolidated expense and other (income) from 2018 to 2019?
Answer: 854
Calculation: 7,107 - 6,253
24. EARNINGS PER SHARE
The following table set forth the computation for basic and diluted net income (loss) per share of common stock (in thousands, except per share data):
As of September 27, 2019, we had warrants outstanding which were reported as a liability on the consolidated balance sheet. During fiscal years 2019 and 2018, we recorded gains of $0.8 million and $27.6 million, respectively, associated with adjusting the fair value of the warrants, in the Consolidated Statements of Operations primarily as a result of declines in our stock price.
When calculating earnings per share we are required to adjust for the dilutive effect of outstanding common stock equivalents, including adjustment to the numerator for the dilutive effect of contracts that must be settled in common stock. During the fiscal year ended September 27, 2019, we excluded the effects of the warrant gain and the 214,303 of potential shares of common stock issuable upon exercise of warrants as the inclusion would be anti-dilutive.
During the fiscal year ended September 28, 2018, we adjusted the numerator to exclude the warrant gain $27.6 million, and we also adjusted the denominator for the dilutive effect of the incremental warrant shares of 569,667 under the treasury stock method. For the fiscal years 2018, the table above excludes the effects of 375,940 shares of potential shares of common stock issuable upon exercise of stock options, restricted stock and restricted stock units as the inclusion would be anti-dilutive.
The table excludes the effects of 386,552 and 1,877,401 shares for fiscal years 2019 and 2017, respectively, of potential shares of common stock issuable upon exercise of stock options, restricted stock, restricted stock units and warrants as the inclusion would be anti-dilutive.
Table:
 |  | Fiscal Years | 
 | 2019 | 2018 | 2017
Numerator:      |  |  | 
Loss from continuing operations | $(383,798) | $(133,762) | $(150,416)
Loss from discontinued operations | — | (6,215) | (19,077)
Net loss | (383,798) | (139,977) | (169,493)
Warrant liability gain | — | (27,646) | —
Net loss attributable to common stockholders | $(383,798) | $(167,623) | $(169,493)
Denominator:      |  |  | 
Weighted average common shares outstanding-basic | 65,686 | 64,741 | 60,704
Dilutive effect of warrants | — | 570 | —
Weighted average common shares outstanding-diluted | 65,686 | 65,311 | 60,704
Common stock earnings per share-basic:      |  |  | 
Continuing operations | $(5.84) | $(2.07) | $(2.48)
Discontinued operations | — | (0.10) | (0.31)
Net common stock earnings per share-basic | $(5.84) | $(2.16) | $(2.79)
Common stock earnings per share-diluted: |  |  | 
Continuing operations | $(5.84) | $(2.47) | $(2.48)
Discontinued operations | — | (0.10) | (0.31)
Net common stock earnings per share-diluted | $(5.84) | $(2.57) | $(2.79)


Question: What is the change in the Weighted average common shares outstanding-basic from 2018 to 2019?
Answer: 945
Calculation: 65,686 - 64,741
Notes to Consolidated Financial Statements
Operating Leases
The Company leases certain of its corporate, manufacturing and other facilities from multiple third- party real estate developers. The operating leases expire at various dates through 2034, and some of these leases have renewal options, with the longest ranging up to two, ten-year periods. Several of these leases also include market rate rent escalations, rent holidays, and leasehold improvement incentives, all of which are recognized to expense on a straight-line basis. Leasehold improvements made either at the inception of the lease or during the lease term are amortized over the lesser of the remaining life of the lease term (including renewals that are reasonably assured) or the useful life of the asset. The Company also leases various machinery and equipment and office equipment under non-cancelable operating leases. The remaining terms of these operating leases range from less than one year to approximately 15 years.
Rent expense under operating leases, covering facilities and equipment, was approximately $19.3 million, $16.3 million, and $14.8 million for fiscal years 2019, 2018 and 2017, respectively.
Capital Leases
In fiscal 2018, the Company entered into a capital lease for a facility in Beijing, China that will allow the Company to consolidate several leased facilities as well as provide additional manufacturing space. The lease term is expected to commence in fiscal 2021 and therefore is not recorded on the Consolidated Balance Sheet as of March 30, 2019. The lease has an initial term of five years and includes multiple renewal options, with the maximum lease term not to exceed 30 years. The minimum future payments for this lease are included in the table below.
Purchase commitments
The Company’s other purchase commitments include payments due for materials and manufacturing services. The Company also has commitments for the purchase of property and equipment, a substantial majority of which will be due within the next 12 months.
The Company’s minimum payments under non-cancelable leases and purchase commitments as of March 30, 2019, are as follows (in thousands):
Table:
Fiscal Year | Operating Leases | Capital Leases | Purchase Commitments
2020 | $22,207 | $241 | $328,435
2021 | 13,382 | 1,220 | 24,005
2022 | 10,331 | 1,220 | 5,654
2023 | 8,224 | 1,220 | 3,596
2024 | 7,139 | 1,220 | —
Thereafter | 31,598 | 47,258 | —
Total minimum payments | $92,881 | $52,379 | $361,690


Question: What are the company's respective operating leases and capital leases in 2020?
Answer: $22,207, $241
The plan assets of METRO are distributed between the following countries:
The above commitments are valued on the basis of actuarial calculations in accordance with relevant provisions of IAS 19. The basis for the measurement is the legal and economic circumstances prevailing in each country.
Table:
€ million | 30/9/2018 | 30/9/2019
Germany | 71 | 81
Netherlands | 584 | 671
United Kingdom | 209 | 237
Belgium | 50 | 52
Other countries | 26 | 25
 | 940 | 1,066


Question: What was the change in the amount for Germany in FY2019 from FY2018?
Answer: 10
Calculation: 81-71
RESULTS OF OPERATIONS
Revenue
(1) Reflects client arrangements (term license, cloud, and maintenance) that are subject to renewal.
We expect our revenue mix to continue to shift in favor of our subscription offerings, particularly cloud arrangements, which could result in slower total revenue growth in the near term. Revenue from cloud arrangements is generally recognized over the service period, while revenue from term and perpetual license arrangements is generally recognized upfront when the license rights become effective.
Subscription revenue
The increase in cloud revenue in 2019 reflects the shift in client preferences to cloud arrangements from other types of arrangements. The increase in term license revenue in 2019 was due to several large, multi-year term license contracts executed in 2019. This increase was partially offset by term license contracts with multi-year committed maintenance periods, where a greater portion of the contract value is allocated to maintenance.
The increase in maintenance revenue in 2019 was primarily due to the continued growth in the aggregate value of the installed base of our software and strong renewal rates in excess of 90%
Perpetual license
The decrease in perpetual license revenue in 2019 reflects the shift in client preferences in favor of our subscription offerings, particularly cloud arrangements
Consulting
Our consulting revenue fluctuates depending upon the mix of new implementation projects we perform as compared to those performed by our enabled clients or led by our partners. See "Our consulting revenue is significantly dependent upon our consulting personnel implementing new license and cloud arrangements" in Item 1A of this Annual Report for additional information.
The decrease in consulting revenue in 2019 was primarily due to a decrease in billable hours.
Table:
(Dollars in thousands) | 2019 |  | 2018 |  | Change | 
Cloud | $133,746 | 15% | 82,627 | 9% | $51,119 | 62%
Term license | 199,433 | 22% | 178,256 | 20% | 21,177 | 12%
Maintenance | 280,580 | 30% | 263,875 | 30% | 16,705 | 6%
Subscription (1) | 613,759 | 67% | 524,758 | 59% | 89,001 | 17%
Perpetual license | 80,015 | 9% | 109,863 | 12% | (29,848) | (27)%
Consulting | 217,609 | 24% | 256,960 | 29% | (39,351) | (15)%
 | $911,383 | 100% | $891,581 | 100% | $19,802 | 2%


Question: What is the percentage change in revenue from term license between 2018 and 2019?
Answer: 11.88
Calculation: (199,433 - 178,256)/178,256
visa inc . notes to consolidated financial statements 2014 ( continued ) september 30 , 2008 ( in millions , except as noted ) purchase consideration total purchase consideration of approximately $ 17.3 billion was exchanged in october 2007 for the acquired interests . the consideration was comprised of the following: .

Table:
 | in millions
visa inc . common stock | $ 16785
visa europe put option | 346
liability under framework agreement | 132
total purchase consideration issued at reorganization date | 17263
visa inc . shares issued as additional purchase consideration at the time of the true-up ( 1 ) | 1150
total purchase consideration | $ 18413
( 1 ) see description of the true-up of purchase consideration below .
see note 4 2014visa europe for more information related to the visa europe put option and the liability under framework agreement .
visa inc .
common stock issued in exchange for the acquired regions the value of the purchase consideration conveyed to each of the member groups of the acquired regions was determined by valuing the underlying businesses contributed by each , after giving effect to negotiated adjustments .
the value of the purchase consideration , consisting of all outstanding shares of class canada , class ap , class lac and class cemea common stock , was measured at june 15 , 2007 ( the 201cmeasurement date 201d ) , the date on which all parties entered into the global restructuring agreement , and was determined to have a fair value of approximately $ 12.6 billion .
the company primarily relied upon the analysis of comparable companies with similar industry , business model and financial profiles .
this analysis considered a range of metrics including the forward multiples of revenue ; earnings before interest , depreciation and amortization ; and net income of comparable companies .
ultimately , the company determined that the forward net income multiple was the most appropriate measure to value the acquired regions and reflect anticipated changes in the company 2019s financial profile prospectively .
this multiple was applied to the corresponding forward net income of the acquired regions to calculate their value .
the most comparable company identified was mastercard inc .
therefore , the most significant input into this analysis was mastercard 2019s forward net income multiple of 27 times net income at the measurement date .
the company additionally performed discounted cash flow analyses for each region .
these analyses considered the company 2019s forecast by region and incorporated market participant assumptions for growth and profitability .
the cash flows were discounted using rates ranging from 12-16% ( 12-16 % ) , reflecting returns for investments times earnings before interest , tax , depreciation and amortization ( 201cebitda 201d ) to ascribe value to periods beyond the company 2019s forecast , consistent with recent payment processing , financial exchange and credit card precedent transactions. .

Question: what portion of the total purchase consideration was issued at the time of the true-up?
Answer: 6.2%
Calculation: divide(1150, 18413)
30. Financial instruments and financial risk management
The main purpose of the Group’s financial instruments, other than trade and other receivables, trade and other payables, contractual provisions and lease liabilities, is to fund the Group’s liquidity requirements.
All of the Group’s financial assets and liabilities are categorised as financial assets/liabilities stated at amortised cost, except for forward foreign currency exchange contracts, included within current other financial assets, that are designated as financial assets at fair value through profit or loss and corporate owned life insurance, amounting to $3.0 million (2018 $2.4 million), included within non-current trade and other receivables, that is designated as financial assets at fair value through profit or loss. These are shown in the below table:
The Group enters into derivative transactions, forward foreign currency exchange contracts, for the management of the Group’s foreign currency exposures when deemed appropriate.
The key objective of the Group’s treasury department is to manage the financial risks of the business and to ensure that sufficient liquidity is available to the Group. All treasury activity operates within a formal control framework. The Board has approved treasury policies and guidelines and periodically reviews treasury activities. Additionally, it is the Group’s policy that speculative treasury transactions are expressly forbidden.
Table:
 |  | 2019 | 2018
 | Notes | $ million | $ million
Non-current trade and other receivables | 20 | 5.7 | 3.5
Cash and cash equivalents | 22 | 183.2 | 121.6
Current trade and other receivables | 20 | 133.2 | 126.9
Current other financial assets | 20 | 0.1 | –
Financial assets |  | 322.2 | 252.0
Non-current other payables, excluding government grants | 23 | 0.8 | 4.4
Current trade payables, other payables and accruals | 23 | 75.4 | 57.1
Lease liabilities, current and non-current | 26 | 33.0 | –
Contractual provisions | 28 | 3.6 | 3.6
Financial liabilities |  | 112.8 | 65.1


Question: What is the total financial liabilities in 2019?
Answer: 112.8
Changes in parameters on the basis of actuarial calculations led to a total increase in the present value of defined benefit obligations by €247 million (2017/18: €−24 million). Most of the effects result from the reduction of the applied invoice rates.
The weighted average term of defined benefit commitments for the countries with material pension obligations amounts to:
Table:
Years | 30/9/2018 | 30/9/2019
Germany | 16 | 16
Netherlands | 22 | 24
United Kingdom | 18 | 18
Belgium | 4 | 6
Other countries | 11 | 11


Question: What was the change in the amount for Belgium in  FY2019 from FY2018?
Answer: 2
Calculation: 6-4