hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
4. VESSELS
Vessels consists of the carrying value of 23 vessels for the year ended December 31, 2019 and December 31, 2018, respectively. Vessels includes capitalized drydocking costs.
Depreciation is calculated based on cost less estimated residual value of $8.0 million per vessel over the estimated useful life of the vessel using the straight-line method. The estimated useful life of a vessel is 25 years from the date the vessel is delivered from the shipyard.
*Depreciation charges of $497.0 million related to vessels disposed of in 2018 is excluded
** Impairment charges of $2.2 million and $110.5 million related to vessels disposed of in 2018 is excluded
The Company has taken three vessels through periodical maintenance surveys in 2019 and further two vessels were in drydock for periodical maintenance as at December 31, 2019.
Impairment Loss on Vessels
The Company has not recorded any impairment loss on vessels for the year ended December 31, 2019. The Company recorded an impairment loss of $2.2 million and $110.5 million for the years ended December 31, 2018 and December 31, 2017, respectively.
The Company reviewed its assets for impairment on an asset by asset basis. In determining whether the assets are recoverable, the Company compared the estimate of the undiscounted cash flows expected to be generated by the assets to its carrying value. As of December 31, 2019, it was determined that the sum of the undiscounted cash flows for each vessel exceeded its carrying value and no impairment was recorded.
In developing estimates of future undiscounted cash flows, we made assumptions and estimates based on historical trends as well as future expectations. The most important assumption in determining undiscounted cash flows are the estimated freight rates. Freight rates are volatile and the analysis is based on market rates obtained from third parties, in combination with historical achieved rates by the Company.
Table:
 | 2019 | 2018
All figures in USD ‘000     |  | 
Vessels as of January 1   | 1,307,087 | 1,769,967
Additions Vessels   | 2,531 | 169,446
Disposals Vessels   | - | (632,326)
Drydocking as of January 1   | 52,331 | 119,303
Additions Drydocking   | 7,618 | 8,210
Disposals Drydocking   | - | (75,182)
Total Vessels and Drydocking   | 1,369,567 | 1,359,418
Less Accumulated Depreciation   | (469,570) | (405,660)*
Less Accumulated Impairment Loss on Vessels | - | -**
Vessels   | 899,997 | 953,758


Question: What is the percentage change in the value of vessels between January 1, 2018 and 2019?
Answer: -26.15
Calculation: (1,307,087 - 1,769,967)/1,769,967
Information about Contract Balances
Amounts collected in advance of services being provided are accounted for as deferred revenue. Nearly all of the Company's deferred revenue balance is related to services revenue, primarily customer support contracts.
In some arrangements the Company allows customers to pay for term based software licenses and products over the term of the software license. Amounts recognized as revenue in excess of amounts billed are recorded as unbilled receivables. Unbilled receivables which are anticipated to be invoiced in the next twelve months are included in Accounts receivable on the consolidated balance sheet. Long term unbilled receivables are included in Other assets. The opening and closing balances of the Company’s accounts receivable, unbilled receivables, and deferred revenues are as follows:
The increase in accounts receivable is primarily a result of an increase in subscription software transactions that are recognized as revenue at the time of sale but paid for over time. The net increase in deferred revenue is primarily the result of an increase in deferred customer support revenue related to software and products revenue transactions and customer support renewals during fiscal 2019.
The amount of revenue recognized in the period that was included in the opening deferred revenue balance was $238,603 for the year ended March 31, 2019. The vast majority of this revenue consists of customer support arrangements. The amount of revenue recognized from performance obligations satisfied in prior periods was not material.
Notes to Consolidated Financial Statements — (Continued) (In thousands, except per share data)
Table:
 | Accounts Receivable | Unbilled Receivable (current) | Unbilled Receivable (long-term) | Deferred Revenue (current) | Deferred Revenue (long-term)
Opening Balance as of March 31, 2018 | $152,219 | $9,900 | $4,380 | $241,113 | $84,661
Increase/(decrease), net | 9,351 | 5,366 | 2,836 | (2,674) | 14,596
Ending Balance as of March 31, 2019 | $161,570 | $15,266 | $7,216 | $238,439 | $99,257


Question: How much is the opening balance for Deferred Revenue (current) and Deferred Revenue (long-term) respectively?
Answer: 241,113, 84,661
NOTE 7 — PROPERTY AND EQUIPMENT
The components of property and equipment were as follows:
During fiscal years 2019, 2018, and 2017, depreciation expense was $9.7 billion, $7.7 billion, and $6.1 billion, respectively. We have committed $4.0 billion for the construction of new buildings, building improvements, and leasehold improvements as of June 30, 2019.
Table:
(In millions) |  | 
June 30, | 2019 | 2018
Land | $ 1,540 | $ 1,254
Buildings and improvements | 26,288 | 20,604
Leasehold improvements | 5,316 | 4,735
Computer equipment and software | 33,823 | 27,633
Furniture and equipment | 4,840 | 4,457
Total, at cost | 71,807 | 58,683
Accumulated depreciation | (35,330) | (29,223)
Total, net | $  36,477 | $  29,460


Question: How much were the top 3 components of property and equipment as a % of the total at cost, property and equipment for 2019?
Answer: 91.12
Calculation: (26,288+33,823+5,316)/71,807
Note 24. Stock-Based Compensation
The Company’s stock-based compensation plans include the 2019 Equity Incentive Plan for employees and certain non-employees, including non-employee directors, and the Deferred Compensation Plan for certain eligible employees. The Company issues common stock and uses treasury stock to satisfy stock option exercises or vesting of stock awards.
The following table summarizes the stock-based compensation expense (primarily in the Americas) and income tax benefits related to the stock-based compensation, both plan and non-plan related (in thousands):
(1) Included in "General and administrative" costs in the accompanying Consolidated Statements of Operations.
(2) Included in "Income taxes" in the accompanying Consolidated Statements of Operations.
There were no capitalized stock-based compensation costs as of December 31, 2019, 2018 and 2017.
Table:
 |  | Years Ended December 31, | 
 | 2019 | 2018 | 2017
Stock-based compensation (expense) (1) | $(7,396) | $(7,543) | $(7,621)
Income tax benefit (2) | 1,775 | 1,810 | 2,858


Question: Where is Income tax benefit included?
Answer: in "Income taxes" in the accompanying Consolidated Statements of Operations.
4.11 Income Taxes
The following table reconciles the amount of reported income taxes in the income statements with income taxes calculated at a statutory income tax rate of 27.0% for both 2019 and 2018.
Income taxes in 2019 increased by $138 million, compared to 2018, mainly due to higher taxable income and a lower value of uncertain tax positions favourably resolved in 2019 compared to 2018, partly offset by a favourable change in the corporate income tax rate in Alberta in Q2 2019.
Table:
FOR THE YEAR ENDED DECEMBER 31 | 2019 | 2018
Net earnings | 3,253 | 2,973
Add back income taxes | 1,133 | 995
Earnings before income taxes | 4,386 | 3,968
Applicable statutory tax rate | 27.0% | 27.0%
Income taxes computed at applicable statutory rates | (1,184) | (1,071)
Non-taxable portion of gains (losses) on investments | 4 | (9)
Uncertain tax positions | 15 | 68
Effect of change in provincial corporate tax rate | 27 | –
Change in estimate relating to prior periods | 14 | 20
Non-taxable portion of equity losses | (20) | (10)
Previously unrecognized tax benefits | 9 | –
Other | 2 | 7
Total income taxes | (1,133) | (995)
Average effective tax rate | 25.8% | 25.1%


Question: What is the total amount of uncertain tax positions in 2018 and 2019?
Answer: 83
Calculation: 15+68
Opening Balance Sheet Adjustment on January 1, 2018
As a result of applying the modified retrospective method to adopt ASC 606, the following amounts on our Consolidated Balance Sheet were adjusted as of January 1, 2018 to reflect the cumulative effect adjustment to the opening balance of Retained earnings (in millions):
Table:
 | As reported December 31, 2017 | Adjustments for ASC 606 adoption | Adjusted January 1, 2018
Trade receivables, net | $201.8 | $(6.2) | $195.6
Prepaid expenses and other current assets | 44.6 | 11.8 | 56.4
Receivables from related parties | 18.1 | (3.7) | 14.4
Computer software, net | 416.8 | 1.8 | 418.6
Deferred contract costs, net | 136.1 | 13.3 | 149.4
Other non-current assets | 104.0 | 3.3 | 107.3
Total assets | 3,655.9 | 20.3 | 3,676.2
Deferred revenues (current) | 59.6 | (1.9) | 57.7
Deferred revenues (non-current) | 100.7 | 6.8 | 107.5
Deferred income taxes | 224.6 | 4.2 | 228.8
Total liabilities | 1,947.1 | 9.1 | 1,956.2
Retained earnings | 201.4 | 11.2 | 212.6
Total equity | 1,708.8 | 11.2 | 1,720.0
Total liabilities and equity | 3,655.9 | 20.3 | 3,676.2


Question: What were the net trade receivables as reported in 2017?
Answer: 201.8
The company utilizes certain of its financing receivables as collateral for nonrecourse borrowings. Financing receivables pledged as collateral for borrowings were $1,062 million and $710 million at December 31, 2019 and 2018, respectively. These borrowings are included in note P, “Borrowings.”
The company did not have any financing receivables held for sale as of December 31, 2019 and 2018.
Table:
($ in millions) |  |  |  | 
At December 31, 2018: | Investment in Sales-Type and Direct Financing Leases | Commercial Financing Receivables | Client Loan and Installment Payment Receivables/ (Loans) | Total
Financing receivables, gross | $6,846 | $11,889 | $13,614 | $32,348
Unearned income | (526) | (37) | (632) | (1,195)
Recorded investment | $6,320 | $11,852 | $12,981 | $31,153
Allowance for credit losses | (99) | (13) | (179) | (292)
Unguaranteed residual value | 589 | — | — | 589
Guaranteed residual value | 85 | — | — | 85
Total financing receivables, net | $6,895 | $11,838 | $12,802 | $31,536
Current portion | $2,834 | $11,838 | $ 7,716 | $22,388
Noncurrent portion | $4,061 | $    — | $ 5,086 | $ 9,148


Question: What amount of Financing receivables pledged as collateral for borrowings in December 2018 and 2019?
Answer: Financing receivables pledged as collateral for borrowings were $1,062 million and $710 million at December 31, 2019 and 2018, respectively.
Quarterly Results (Unaudited)
The following table sets forth certain unaudited quarterly financial information for the 2019 and 2018 fiscal years. In the opinion of management, this information has been presented on the same basis as the audited consolidated financial statements appearing elsewhere, and all necessary adjustments (consisting primarily of normal recurring accruals) have been included in the amounts stated below to present fairly the unaudited quarterly results when read in conjunction with the audited consolidated financial statements and related notes thereto. The operating results for any quarter are not necessarily indicative of results for any future period.
(1) Includes acquisition and integration charges related to our strategic collaboration with JJMD of $17.6 million, $13.4 million, $12.8 million, $8.9 million and $8.1 million for the three months ended August 31, 2019, May 31, 2019, February 28, 2019, November 30, 2018 and August 31, 2018, respectively.
(2) Includes ($13.3 million), $111.4 million and $30.9 million of income tax (benefit) expense for the three months ended November 30, 2018, August 31, 2018 and February 28, 2018, respectively, related to the Tax Act.
(4) Includes a distressed customer charge of $6.2 million, $18.0 million and $14.7 million during the three months ended August 31, 2019, August 31, 2018 and February 28, 2018, respectively.
(5) Includes $32.4 million of stock-based compensation expense for the modification of certain performancebased restricted stock units and a one-time cash settled award during the three months ended November 30, 2017.
Table:
 |  |  | Fiscal Year 2018 | 
 |  |  | Three Months Ended | 
(in thousands, except for per share data) | August 31, 2018 | May 31, 2018 | February 28, 2018 | November 30, 2017
Net revenue | $5,771,831 | $5,436,952 | $5,301,101 | $5,585,532
Gross profit(4) | 442,147 | 398,227 | 397,133 | 469,285
Operating income(1)(4)(5) | 153,896 | 112,971 | 129,532 | 145,754
Net (loss) income(2)(4)(5) | (56,608) | 42,702 | 37,528 | 63,919
Net (loss) income attributable to Jabil Inc.(2)(4)(5) | $(57,314) | $42,541 | $37,308 | $63,795
(Loss) earnings per share attributable to the stockholders of Jabil Inc. |  |  |  | 
Basic | $(0.34) | $0.25 | $0.21 | $0.36
Diluted | $(0.34) | $0.25 | $0.21 | $0.35


Question: How much was the income tax (benefit) expense for the three months ended November 30, 2018, August 31, 2018 and February 28, 2018, respectively?
Answer: ($13.3 million), $111.4 million, $30.9 million
Share-based Compensation Expense
We have several share-based compensation plans covering stock options and RSUs for our employees and directors, which are described more fully in Note 11.
We measure our compensation cost related to share-based payment transactions based on fair value of the equity or liability classified instrument. For purposes of estimating the fair value of each stock option unit on the date of grant, we utilize the Black-Scholes option-pricing model. Option valuation models require the input of highly subjective assumptions including the expected volatility factor of the market price of our common stock (as determined by reviewing our historical public market closing prices). Our accounting for share-based compensation for RSUs is based on the closing market price of our common stock on the date of grant.
Our total share-based compensation expense recognized in the Company’s results of operations from non-cash and cash-portioned instruments issued to our employees and directors comprised the following (in thousands):
Table:
 |  | Year Ended December 31,
 | 2019 | 2018
Research and development expense: |  | 
Stock option awards | $8 | $38
RSU awards | 13 | 27
 | 21 | $65
General and administrative expense: |  | 
Stock option awards | 12 | 61
RSU awards | 105 | 104
 | 117 | $165
Total share-based compensation expense | 138 | $230


Question: How much did the stock-based compensation expense in the general and administrative operations decreased from 2018 to 2019?
Answer: 48
Calculation: 165 - 117
Foreign exchange earnings and outgo
Export revenue constituted 93.3 percent of the total unconsolidated revenue in FY 2019 (92.2 percent in FY 2018).
Table:
 |  | (` crore)
Foreign exchange earnings and outgo | FY 2019 | FY 2018
a. Foreign exchange earnings | 119,499 | 92,258
b. CIF Value of imports | 447 | 768
c.Expenditure in foreign currency | 49,336 | 33,014


Question: What portion of total unconsolidated revenue in FY 2019 constitutes of export revenue?
Answer: 93.3
14. Restructuring and Related Charges
Following is a summary of the Company’s restructuring and related charges (in thousands):
(1) Includes $21.5 million, $16.3 million and $51.3 million recorded in the EMS segment, $2.6 million, $16.6 million and $82.4 million recorded in the DMS segment and $1.8 million, $4.0 million and $26.7 million of non-allocated charges for the fiscal years ended August 31, 2019, 2018 and 2017, respectively. Except for asset write-off costs, all restructuring and related charges are cash settled.
(2) Fiscal year ended August 31, 2017, includes expenses related to the 2017 and 2013 Restructuring Plans.
Table:
 |  | Fiscal Year Ended August 31, | 
 | 2019 | 2018 | 2017(2)
Employee severance and benefit costs | $16,029 | $16,269 | $56,834
Lease costs | (41) | 1,596 | 3,966
Asset write-off costs | (3,566) | 16,264 | 94,346
Other costs | 13,492 | 2,773 | 5,249
Total restructuring and related charges(1) | $25,914 | $36,902 | $160,395


Question: Which years does the table provide information for the Company’s restructuring and related charges?
Answer: 2019, 2018, 2017
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: In fiscal year 2019, what is the percentage constitution of revenues from FEI-NY among the total revenue?
Answer: 76.95
Calculation: 38,096/49,509
The assets and liabilities of OpCo that are included in our Consolidated Balance Sheets at September 30, 2019 and 2018 are as follows:
The assets of OpCo are restricted for OpCo’s use and are not available for the general operations of Cubic. OpCo’s debt is non-recourse to Cubic. Cubic’s maximum exposure to loss as a result of its equity interest in the P3 Venture is limited to the $2.7 million outstanding letter of credit, which will be converted to a cash contribution upon completion of the design and build phase of the MBTA Contract.
Table:
 |  | September 30,
 | 2019 | 2018
 |  | (in thousands)
Cash | $  347 | $  374
Restricted cash | 9,967 | 10,000
Other current assets | 33 | —
Long-term capitalized contract costs | — | 33,818
Long-term contracts financing receivable | 115,508 | —
Other noncurrent assets | 1,419 | 810
Total assets | $  127,274 | $  45,002
Trade accounts payable | $  25 | $  165
Accrued compensation and other current liabilities | 191 | —
Due to Cubic | 25,143 | 11,724
Other long-term liabilities | 21,605 | 13
Long-term debt | 61,994 | 9,056
Total liabilities | $  108,958 | $  20,958
Total Cubic equity | (603) | (304)
Noncontrolling interests | 18,919 | 24,348
Total liabilities and owners' equity | $ 127,274 | $ 45,002


Question: In which year is the amount of Cash larger?
Answer: 2018
Calculation: 374>347
Cogeco Communications is a subsidiary of Cogeco, which holds 31.8% of the Corporation's equity shares, representing 82.3% of the Corporation's voting shares.
Cogeco provides executive, administrative, financial and strategic planning services and additional services to the Corporation under a Management Services Agreement (the "Agreement"). On May 1, 2019, the Corporation and Cogeco agreed to amend the Agreement in order to replace the methodology used to establish the management fees payable by the Corporation to Cogeco, which was based on a percentage of the consolidated revenue of the Corporation, with a new methodology based on the costs incurred by Cogeco plus a reasonable mark-up. This cost-plus methodology was adopted to avoid future variations of the management fee percentage due to the frequent changes of the Corporation's consolidated revenue pursuant to business acquisitions and divestitures. Prior to this change, management fees represented 0.75% of the consolidated revenue from continuing and discontinued operations of the Corporation (0.85% for the period prior to the MetroCast acquisition on January 4, 2018). Provision is made for future adjustment upon the request of either Cogeco or the Corporation from time to time during the term of the Agreement. For fiscal 2019 management fees paid to Cogeco amounted to $19.9 million, compared to $19.0 million for fiscal 2018.
Provision is made for future adjustment upon the request of either Cogeco or the Corporation from time to time during the term of the Agreement. For fiscal 2019 management fees paid to Cogeco amounted to $19.9 million, compared to $19.0 million for fiscal 2018.
The following table shows the amounts that the Corporation charged Cogeco with regards to the Corporation's stock options, ISUs and PSUs granted to these executive officers, as well as DSUs issued to Board directors of Cogeco:
Table:
Years ended August 31, | 2019 | 2018
(In thousands of Canadian dollars) | $ | $
Stock options | 1,046 | 915
ISUs | 61 | 1
PSUs | 981 | 990
DSUs | 631 | —


Question: What was the management fee paid to Cogeco in 2019?
Answer: $19.9 million
FINANCIAL EXPENSE
(1) Fiscal 2018 was restated to reclassify results from Cogeco Peer 1 as discontinued operations. For further details, please consult the "Discontinued operations" section.
Fiscal 2019 fourth-quarter financial expense decreased by 15.2% mainly due to: • the reimbursements of $65 million and US$35 million under the Canadian Revolving Facility during the second quarter of fiscal 2019 and of US$328 million during the third quarter of fiscal 2019 following the sale of Cogeco Peer 1; and • lower debt outstanding and interest rates on the First Lien Credit Facilities; party offset by • the appreciation of the US dollar against the Canadian dollar compared to same period of the prior year.
Table:
Three months ended August 31, | 2019 | 2018 (1) | Change
(in thousands of dollars, except percentages) | $ | $ | %
Interest on long-term debt | 41,307 | 46,127 | (10.4)
Net foreign exchange losses (gains) | (403) | 482 | —
Amortization of deferred transaction costs | 464 | 441 | 5.2
Capitalized borrowing costs | (168) | (162) | 3.7
Other | (763) | 821 | —
 | 40,437 | 47,709 | (15.2)


Question: What was the increase / (decrease) in the interest on long-term debt from 2018 to 2019?
Answer: -4820
Calculation: 41,307 - 46,127