hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
Interest expense, net includes the stated interest rate on our outstanding debt, as well as the net impact of capitalized interest, interest income, the effects of terminated interest rate swaps and the amortization of capitalized senior debt issuance costs and credit facility fees, bond discounts, and terminated treasury locks.
Interest expense, net for the years ended December 31, was as follows:
(1) We repaid the notes upon maturity in July 2017.
(2) On August 1, 2019, Sealed Air Corporation, on behalf of itself and certain of its subsidiaries, and Sealed Air Corporation (US) entered into an amendment to its existing senior secured credit facility with Bank of America, N.A., as agent, and the other financial institutions party thereto. The amendment provided for a new incremental term facility in an aggregate principal amount of up to $475 million, to be used, in part, to finance the acquisition of Automated. See Note 14, "Debt and Credit Facilities," of the Notes to Consolidated Financial Statements for further details.
(3) On July 12, 2018, the Company and certain of its subsidiaries entered into a third amended and restated credit agreement with respect to its existing senior secured credit facility. See Note 14, “Debt and Credit Facilities,” of the Notes to Consolidated Financial Statements for further details.
(4) In November 2019, the Company issued $425 million of 4.00% Senior Notes due 2027 and used the proceeds to retire the existing $425 million of 6.50% Senior Notes due 2020. See Note 14, "Debt and Credit Facilities," of the Notes to Consolidated Financial Statements for further details.
Table:
 |  | Year Ended December 31, |  | 2019 vs. 2018 | 2018 vs. 2017
(In millions) | 2019 | 2018 | 2017 | Change | Change
Interest expense on our various debt instruments: |  |  |  |  | 
Term Loan A due July 2017(1) | $ — | $ — | $ 3.6 | $ — | $ (3.6)
Term Loan A due July 2022(2) | 6.8 | — | — | 6.8 | —
Term Loan A due July 2023(3) | 8.5 | 8.9 | 18.6 | (0.4) | (9.7)
Revolving credit facility due July 2023(3) | 1.4 | 1.9 | 2.4 | (0.5) | (0.5)
6.50% Senior Notes due December 2020(4) | 25.4 | 28.1 | 28.1 | (2.7) | —
4.875% Senior Notes due December 2022 | 21.5 | 21.5 | 21.5 | — | —
5.25% Senior Notes due April 2023 | 23.1 | 23.1 | 23.0 | — | 0.1
4.50% Senior Notes due September 2023 | 20.7 | 21.8 | 21.0 | (1.1) | 0.8
5.125% Senior Notes due December 2024 | 22.4 | 22.4 | 22.3 | — | 0.1
5.50% Senior Notes due September 2025 | 22.4 | 22.4 | 22.3 | — | 0.1
4.00% Senior Notes due December 2027(4) | 1.7 | — | — | 1.7 | —
6.875% Senior Notes due July 2033 | 31.1 | 31.0 | 31.0 | 0.1 | —
Other interest expense | 19.4 | 18.2 | 18.3 | 1.2 | (0.1)
Less: capitalized interest | (8.4) | (6.3) | (10.3) | (2.1) | 4.0
Less: interest income | (11.9) | (15.1) | (17.6) | 3.2 | 2.5
Total | $ 184.1 | $ 177.9 | $ 184.2 | $ 6.2 | $ (6.3)


Question: What is the Total interest expense for years 2017-2019?
Answer: 546.2
Calculation: 184.1+177.9+184.2
Note 7. Prepaid Expenses and Other Current Assets and Accrued and Other Current Liabilities
Prepaid expenses and other current assets as of December 31, 2019 and 2018 consisted of the following:
Table:
December 31, |  | 
 | 2019 | 2018
Prepaid expenses | $1,948 | $1,179
Securities litigation insurance receivable | 16,627 | 306
Other current assets | 1,556 | 2,865
Prepaid expenses and other current assets | $20,131 | $4,350


Question: What is the total prepaid expenses made in 2018 and 2019?
Answer: 3127
Calculation: 1,948 + 1,179
AMERICAN TOWER CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Tabular amounts in millions, unless otherwise disclosed)
The domestic and foreign components of income from continuing operations before income taxes are as follows:
Table:
 |  | Year Ended December 31, | 
 | 2019 | 2018 | 2017
United States | $1,527.0 | $1,212.7 | $971.2
Foreign | 389.4 | (58.1) | 284.9
Total | $1,916.4 | $1,154.6 | $1,256.1


Question: What was the income from continuing operations before income taxes from Foreign sources in 2018?
Answer: (58.1)
Contractual Obligations and Commercial Commitments
The following table summarizes our non-cancelable contractual obligations and commercial commitments as of the end of 2019 and the effect such obligations and commitments are expected to have on our liquidity and cash flows in future fiscal periods (in thousands):
(1) Certain of our wafer manufacturers require us to forecast wafer starts several months in advance. We are committed to take delivery of and pay for a portion of forecasted wafer volume.
(2) Other commercial commitments are included as liabilities on our consolidated balance sheets as of the end of 2019.
(3) Does not include unrecognized tax benefits of $2.1 million as of the end of 2019. See Note 10 of the Consolidated Financial Statements.
Table:
 |  |  |  | Payments Due by Period | 
 | Total | Less than 1 year | 1-3 Years | 4-5 Years | More than 5 Years
Contractual cash obligations: |  |  |  |  | 
Operating leases | $2,040 | $611 | $902 | $527 | $—
Finance software lease obligations | 514 | 214 | 300 | — | —
Wafer purchases (1) | 57 | 57 | — | — | —
Other purchase commitments | 413 | 386 | 27 | — | —
Total contractual cash obligations | 3,024 | 1,268 | 1,229 | 527 | —
Other commercial commitments (2): |  |  |  |  | 
Revolving line of credit | 15,000 | 15,000 | — | — | —
Total commercial commitments | 15,000 | 15,000 | — | — | —
Total contractual obligations and commercial commitments (3) | $18,024 | $16,268 | $1,229 | $527 | —


Question: What is the average  total contractual cash obligations due in less than 1 year and between 1 to 3 years?
Answer: 1248.5
Calculation: (1,268 + 1,229)/2
Operating profit
Notes
1. Before exceptional items, acquisition related costs, acquired intangible asset amortisation and share-based payment amounting to $4.3 million in total (2018 $19.6 million).
2. Adjusted operating profit as a percentage of revenue in the period.
Adjusted operating profit increased by $15.8 million or 20.5 per cent to $92.9 million in 2019, compared with $77.1 million in 2018. Adjusted operating margin increased by 2.2 per cent to 18.4 per cent, from 16.2 per cent in 2018.
Reported operating profit was up by $31.1 million or 54.1 per cent to $88.6 million (2018 $57.5 million). Total adjusting items were lower in 2019 at $4.3 million, compared to $19.6 million in 2018, mainly due to exceptional items totalling $13.1 million charged last year (see below).
Table:
$ million | 2019 | Adjusted operating margin 1, 2 % | 2018 | Adjusted operating margin 1, 2 %
Networks & Security | 73.9 | 23.1 | 56.4 | 19.8
Lifecycle Service Assurance | 18.1 | 16.3 | 17.4 | 15.4
Connected Devices | 9.5 | 13.1 | 10.5 | 13.3
Corporate | (8.6) |  | (7.2) | 
Adjusted operating profit1 | 92.9 | 18.4 | 77.1 | 16.2
Exceptional items | 0.5 |  | (13.1) | 
Acquisition related costs | (0.1) |  | – | 
Acquired intangible asset amortisation | (1.2) |  | (3.7) | 
Share-based payment | (3.5) |  | (2.8) | 
Reported operating profit | 88.6 |  | 57.5 | 


Question: What were the items factored into the adjusted operating profit to derive the reported operating profit in 2019?
Answer: Exceptional items, Acquisition related costs, Acquired intangible asset amortisation, Share-based payment
A summary of options outstanding and vested as of December 31, 2019 is as follows:
The total intrinsic value of options exercised during 2019, 2018, and 2017 was $318.5 million, $17.4 million, and $6.6 million, respectively.
The weighted average grant date fair value of options granted during the years ended December 31, 2019, 2018, and 2017, was $19.80, $9.07, and $6.44 per share, respectively. During the year ended December 31, 2019, 2,141,078 options vested. There were 2,939,947 options unvested as of December 31, 2019.
As of December 31, 2019, $30.3 million of total unrecognized compensation cost related to stock options was expected to be recognized over a weighted average period of approximately 2.5 years.
Table:
 | Options Outstanding |  | Options Vested and Exercisable | 
Exercise Prices | Number Outstanding | Weighted Average Life (in Years) | Number Vested and Exercisable | Weighted Average Life (in Years)
$1.50 to $1.90 | 32,913 | 1.4 | 32,913 | 1.4
2.86 to 6.40 | 209,126 | 3.3 | 209,126 | 3.3
8.04 to 11.72 | 498,869 | 4.2 | 498,869 | 4.2
12.20 to 15.06 | 2,227,421 | 6.7 | 1,587,924 | 6.5
16.06 to 24.00 | 1,772,062 | 8.1 | 560,632 | 8.1
31.99 to 42.21 | 847,010 | 9.0 | 42,839 | 8.7
55.10 to 79.25 | 297,341 | 9.5 | 12,492 | 9.3
 | 5,884,742 |  | 2,944,795 | 


Question: As of December 31, 2019, what is the value of the total unrecognized compensation cost related to stock options was expected to be recognized?
Answer: $30.3 million
Interest rate swaps
The Group has the following interest rate swaps in place as at the end of the reporting period:
Future interest rate swaps in place at the end of the reporting period have maturity dates ranging from 23 September 2019 to 23 September 2026 (2018: 24 September 2018 to 23 September 2026).
On 24 June 2019, the Group reset the interest rates associated with AUD denominated interest rate swaps. This resulted in a cash outflow of $22.9m which reduced the Group’s financial liability presented in note 9.8. The cumulative change in fair value of these hedging instruments is carried in a separate reserve in equity (cash flow hedge reserve of NSPT presented within non-controlling interest in the Group’s consolidated statement of changes in equity).
This balance will be recycled from the hedge reserve to finance costs in the statement of profit and loss in future reporting periods corresponding to when the underlying hedged item impacts profit or loss. For the year ended 30 June 2019, $0.1m has been recognised in finance costs relating to this item.
Table:
 | 2019 | 2018
 | $'000 | $'000
Interest rate swaps (AUD) at face value |  | 
Current interest rate swaps | 400,000 | 270,000
Future interest rate swaps | 275,000 | 400,000
Interest rate swaps (NZD) at face value |  | 
Current interest rate swaps | 73,500 | 53,500
Future interest rate swaps | 50,000 | 100,000
AUD equivalent of NZD interest rate swaps |  | 
Current interest rate swaps | 70,361 | 48,944
Future interest rate swaps | 47,864 | 91,485


Question: Where is the cumulative change in fair value of hedging instruments carried?
Answer: in a separate reserve in equity (cash flow hedge reserve of NSPT presented within non-controlling interest in the Group’s consolidated statement of changes in equity).
Base Salary
Base salary for our named executive officers is the fixed component of our executive compensation program. We use base salary to compensate our named executive officers for services rendered during the year and to recognize the experience, skills, knowledge and responsibilities required of each named executive officer. We apply no specific formula to determine adjustments to base salary. Adjustments to base salary have been made to reflect our economic condition and future expected performance. We continue to provide base salaries that are conservative relative to competitive market pay levels.
In April 2018, our compensation committee reviewed the base salaries of Mses. Friar, Henry, Reses and Whiteley, taking into consideration a competitive market analysis performed by Compensia, the recommendations of our CEO and our then-current People Lead, the desire to retain our highly qualified executive team and the other factors described above. Following this review, our compensation committee approved an increase in the annual base salary levels for Mses. Friar, Henry, Reses and Whiteley to $400,000, in each case effective as of April 1, 2018, in order to improve competitive alignment with our peers. In addition, our compensation committee determined that it was appropriate to leave our CEO’s 2018 base salary level at $2.75 per year, at the request of our CEO and with compensation committee approval.
The annualized base salaries of our named executive officers as of December 31, 2018 compared to December 31, 2017 were:
(1) Ms. Friar resigned from her position as Chief Financial Officer, effective as of November 16, 2018, at which time her annual base salary was $400,000.
(2) Ms. Whiteley was appointed to General Counsel and Corporate Secretary effective March 18, 2018, and her salary was adjusted to reflect her promotion to this role.
(3) The base salaries of Messrs. Daswani and Murphy were not adjusted in conjunction with their service as interim co-CFOs. Salary adjustments for Messrs. Daswani and Murphy made in April 2018, prior to their becoming named executive officers, were made as part of the company-wide compensation review program. Their salary adjustments were recommended by their direct manager and approved by the then-current People Lead. Messrs. Daswani and Murphy’s annualized base salaries at the time of their appointment as interim co-CFOs were $300,000 and $295,000, respectively.
Table:
Named Executive Officer | Annual Base Salary as of December 31, 2017 | Annual Base Salary as of December 31, 2018 | Percentage Increase
Mr. Dorsey | $2.75 | $2.75 | 0%
Ms. Friar (1) | $350,000 | $N/A | N/A
Ms. Henry | $350,000 | $400,000 | 14%
Ms. Reses | $350,000 | $400,000 | 14%
Ms. Whiteley (2) | $325,000 | $400,000 | 23%
Mr. Daswani (3) | $280,000 | $300,000 | 7%
Mr. Murphy (3) | $270,000 | $295,000 | 9%


Question: Which Executive Officer has the largest percentage increase in their annual base salary from 2017 to 2018?
Answer: Ms. Whiteley
Calculation: From COL5 find the largest number and the corresponding name(s) in COL2
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (in thousands, except for share and per share data)
We have also recorded the following amounts to accumulated other comprehensive loss for the U.S. and non-U.S. pension plans, net of tax:
Table:
 | U.S.Pension Plans | Non-U.S.Pension Plans
 | Unrecognized Loss | Unrecognized Loss
Balance at January 1, 2018 | $75,740 | $1,898
Amortization of retirement benefits, net of tax | (4,538) | (126)
Settlements | — | —
Net actuarial gain | 6,732 | 196
Foreign exchange impact | — | (52)
Tax impact due to implementation of ASU 2018-02 | 17,560 | —
Balance at January 1, 2019 | $95,494 | $1,916
Amortization of retirement benefits, net of tax | (4,060) | (138)
Net actuarial (loss) gain | (2,604) | 78
Foreign exchange impact | — | 44
Balance at December 31, 2019 | $88,830 | $1,900


Question: What was the difference in the balance at December 31, 2019 for Unrecognized losses between U.S and Non-U.S. Pension Plans?
Answer: 86930
Calculation: 88,830-1,900
15 Goodwill and other intangible assets continued
Impairment
In accordance with the requirements of IAS 36 (Impairment of Assets), goodwill is allocated to the Group’s cash-generating units, or groups of cash-generating units, that are expected to benefit from the synergies of the business combination that gave rise to the goodwill.
During 2019, we performed a review on the basis of identification of our individual CGUs. As a result of this review, we have consolidated a number of our current individual CGUs into groups of CGUs that represent the lowest level to which goodwill is monitored for internal management purposes, being each operating segment as disclosed in Note 3. As a result, we performed an impairment review at an operating segment CGU level, the breakdown of the goodwill value at 31st December across these is shown below:
In order to complete the transition to performing goodwill impairment reviews at an operating segment level, we also performed a goodwill impairment review as at 31st December 2019 under the historical CGU basis. The result of this impairment review led to an impairment of £4.2m being recognised in respect of Watson-Marlow FlowSmart. No other impairment was recognised.
The goodwill balance has been tested for annual impairment on the following basis:
• the carrying values of goodwill have been assessed by reference to value in use. These have been estimated using cash flows based on forecast information for the next financial year which have been approved by the Board and then extended up to a further 9 years based on the most recent forecasts prepared by management; • pre-tax discount rates range from 11-12% (2018: 10-15%); • short to medium-term growth rates vary between 3-8% depending on detailed forecasts (2018: 2-8%). The range in rates excludes the annualised impact of owning Thermocoax for a first full year in 2020. The short to medium-term is defined as not more than 10 years; and • long-term growth rates are set using IMF forecasts and vary between 1.8-2.5% (2018: 0.8-3.0%).
Table:
 | 2019 Goodwill | 2018 Goodwill
 | £m | £m
Steam Specialties | 113.0 | 119.3
Electric Thermal Solutions | 244.7 | 183.0
Watson-Marlow | 60.0 | 65.7
Total goodwill | 417.7 | 368.0


Question: What are the different operating segment as part of the goodwill impairment reviews?
Answer: Steam Specialties, Electric Thermal Solutions, Watson-Marlow
Employee Share Ownership Plan
UK employees are eligible to participate in the Employee Share Ownership Plan (ESOP). The aim of the ESOP is to encourage increased shareholding in the Company by all UK employees and so there are no performance conditions. Employees are invited to join the ESOP when an offer is made each year. Individuals save for 12 months during the accumulation period and subscribe for shares at the lower of the price at the beginning and the end of the accumulation period under HMRC rules. The Company provides a matching share for each share purchased by the individual.
Shares issued under the ESOP have been measured using the Present Economic Value (PEV) valuation methodology. The relevant disclosures in respect of the Employee Share Ownership Plans are set out below.
The accumulation period for the 2019 ESOP ends in September 2020, therefore some figures are projections.
Table:
 | 2015 Grant | 2016 Grant | 2017 Grant | 2018 Grant | 2019 Grant
Grant date | 1st October | 1st October | 1st October | 1st October | 1st October
Exercise price | 2,797.0p | 4,477.3p | 5,496.7p | 7,240.0p | 7,835.0p
Number of employees | 1,038 | 1,040 | 1,229 | 1,294 | 1,318
Shares under scheme | 34,449 | 22,173 | 22,411 | 16,687 | 16,820
Vesting period | 3 years | 3 years | 3 years | 3 years | 3 years
Expected volatility | 21% | 21% | 21% | 19% | 21%
Risk free interest rate | 0.4% | 0.1% | 0.4% | 0.8% | 0.5%
Expected dividend yield | 2.5% | 2.5% | 2.3% | 2.0% | 1.8%
Fair value | 2,931.3p | 4,696.7p | 5,799.0p | 7,623.7p | 8,305.1p


Question: What was the change in the number of employees in 2019 from 2018?
Answer: 24
Calculation: 1,318-1,294
Operating Income (Loss) by Business Unit
Percentages reflect operating income (loss) as a percentage of revenue for each business unit.
CNBU operating income for 2019 decreased from 2018 primarily due to declines in pricing and higher R&D costs, partially offset by cost reductions. MBU operating income for 2019 decreased from 2018 primarily due to declines in pricing partially offset by increases in sales of high-value managed NAND products and manufacturing cost reductions. SBU operating margin for 2019 declined from 2018 primarily due to declines in pricing, which were partially offset by manufacturing cost reductions and increases in sales volumes. SBU operating results for 2019 and 2018 were adversely impacted by the underutilization charges at IMFT. EBU operating income for 2019 decreased from 2018 as a result of declines in pricing and higher R&D costs partially offset by manufacturing cost reductions and increases in sales volumes.
CNBU operating income for 2018 improved from 2017 primarily due to improved pricing and higher sales volumes resulting from strong demand for our products combined with manufacturing cost reductions. MBU operating income for 2018 improved from 2017 primarily due to increases in pricing and sales volumes for LPDRAM products, higher sales of high-value managed NAND products, and manufacturing cost reductions. SBU operating income for 2018 improved from 2017 primarily due to manufacturing cost reductions enabled by our execution in transitioning to 64-layer TLC 3D NAND products and improvements in product mix. SBU operating income for 2018 was adversely impacted by higher costs associated with IMFT's production of 3D XPoint memory products at less than full capacity. EBU operating income for 2018 increased as compared to 2017 as a result of increases in average selling prices, manufacturing cost reductions, and increases in sales volumes, partially offset by higher R&D costs.
Table:
For the year ended | 2019 | 2019 | 2018 | 2018 | 2017 | 2017
CNBU | $4,645 | 47% | $9,773 | 64% | $3,755 | 44%
MBU | 2,606 | 41% | 3,033 | 46% | 927 | 21%
SBU | (386) | (10)% | 964 | 19% | 552 | 12%
EBU | 923 | 29% | 1,473 | 42% | 975 | 36%
All Other | 13 | 18% | — | —% | 23 | 35%
 | $7,801 |  | $15,243 |  | $6,232 | 


Question: What was the primary cause of CNBU operating income for 2019 decreased from 2018?
Answer: declines in pricing and higher R&D costs, partially offset by cost reductions
Note 11. Non-current assets - deferred tax assets
Critical accounting judgements, estimates and assumptions
Deferred tax assets are recognised for deductible temporary differences only if the Group considers it is probable that future taxable amounts will be available to utilise those temporary differences and losses. Calculation of future taxable amounts involve the use of assumptions and management judgments.
A deferred tax asset can only be recorded for the portion of a potential benefit where utilisation is considered probable. The assessment of future taxable amounts involves the use of assumptions and management judgments. The Group has fully recognised a deferred tax asset of $79.3m in relation to assets previously transferred to USA. It is considered probable that there will be future taxable income in the USA to fully realise these temporary differences.
Table:
Consolidated |  | 
 | 2019 | 2018
 | US$000 | US$000
Deferred tax asset comprises temporary differences attributable to: |  | 
Amounts recognised in profit or loss: |  | 
Tax losses | 2,068 | 688
Property, plant and equipment | (176) | 58
Employee benefits | 608 | 235
Employee entitlements | 714 | -
Intellectual property | 79,260 | 79,011
Revenue received in advance | 633 | 1,019
Provisions | 1,054 | 328
Foreign currency translation | 613 | 534
Tax credits | 17 | -
Deferred rent | 82 | 163
 | 84,873 | 82,036
Amounts recognised in equity: |  | 
Transaction costs on share issue | - | 84
Deferred tax asset | 84,873 | 82,120
Amount expected to be recovered within 12 months | 26,588 | 26,995
Amount expected to be recovered after more than 12 months | 58,285 | 55,125
Movements: |  | 
Opening balance | 82,120 | 82,946
Credited/(charged) to profit or loss (note 5) | 2,440 | (933)
Additions through business combinations (note 28) | 314 | 105
Translation differences | (1) | 2
Closing balance | 84,873 | 82,120


Question: What is the percentage increase in amount of intellectual property from 2018 to 2019?
Answer: 0.32
Calculation: (79,260-79,011)/79,011