hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
NOTE 11—FINANCING ARRANGEMENTS
Long-term debt consists of the following (in thousands):
Maturities of long-term debt for each of the five years in the period ending September 30, 2024, are as follows: 2020 — $10.7 million; 2021 — $35.7 million; 2022 — $35.7 million; 2023 — $35.7 million; 2024 — $35.7 million.
In March 2013, we entered into a note purchase and private shelf agreement pursuant to which we issued $100.0 million of senior unsecured notes, bearing interest at a rate of 3.35% and maturing on March 12, 2025. Pursuant to the agreement, on July 17, 2015, we issued an additional $25.0 million of senior unsecured notes, bearing interest at a rate of 3.70% and maturing on March 12, 2025. Interest payments on the notes issued in 2013 and 2015 are due semi-annually and principal payments are due from 2021 through 2025. On February 2, 2016 we revised the note purchase agreement and we issued an additional $75.0 million of senior unsecured notes bearing interest at 3.93% and maturing on March 12, 2026. Interest payments on these notes are due semi-annually and principal payments are due from 2020 through 2026.
The agreement pertaining to the aforementioned notes also contained a provision that the coupon rate would increase by a further 0.50% should the company’s leverage ratio exceed a certain level.
Table:
September 30, | 2019 | 2018
Series A senior unsecured notes payable to a group of insurance companies, interest fixed at 3.35% | $  50,000 | $  50,000
Series B senior unsecured notes payable to a group of insurance companies, interest fixed at 3.35% | 50,000 | 50,000
Series C senior unsecured notes payable to a group of insurance companies, interest fixed at 3.70% | 25,000 | 25,000
Series D senior unsecured notes payable to a group of insurance companies, interest fixed at 3.93% | 75,000 | 75,000
 | 200,000 | 200,000
Less unamortized debt issuance costs | (175) | (207)
Less current portion | (10,714) | —
 | $189,111 | $199,793


Question: What is the maturity of long-term debt for 2021?
Answer: $35.7 million
Cash Flows
Our cash flows from operations are significantly impacted by timing of invoicing and collections of accounts receivable and annual bonus payments, as well as payments of payroll, payroll taxes, and other taxes.
We expect that we will continue to generate positive cash flows from operations on an annual basis, although this may fluctuate significantly on a quarterly basis. In particular, we typically use more cash during the first fiscal quarter ended October 31, as we generally pay cash bonuses to our employees for the prior fiscal year during that period and pay seasonally higher sales commissions from increased customer orders booked in our fourth fiscal quarter.
We believe that our existing cash and cash equivalents and sources of liquidity will be sufficient to fund our operations for at least the next 12 months. Our future capital requirements will depend on many factors, including our rate of revenue growth, the expansion of our sales and marketing activities, the timing and extent of our spending to support our research and development efforts, investments in cloud infrastructure and operating costs, and expansion into other markets.
We also may invest in or acquire complementary businesses, applications, or technologies, which may require the use of significant cash resources and/or additional financing. The following summary of cash flows for the periods indicated has been derived from our consolidated financial statements included elsewhere in this Annual Report on Form 10-K (in thousands):
Table:
 | Fiscal years ended July 31, | 
 | 2019 | 2018
Net cash provided by operating activities | $116,126 | $140,459
Net cash used in investing activities | $(301,433) | $(537,584)
Net cash provided by financing activities | $3,954 | $573,000


Question: In which year was Net cash used in investing activities less than -350,000 thousands?
Answer: 2019
Calculation: locate and analyze Net cash used in investing activities in row 4
IMPAIRMENT TESTING
As described in Note 2, Significant accounting policies, goodwill is tested annually for impairment by comparing the carrying value of a CGU or group of CGUs to the recoverable amount, where the recoverable amount is the higher of fair value less costs of disposal or value in use.
VALUE IN USE
The value in use for a CGU or group of CGUs is determined by discounting five-year cash flow projections derived from business plans reviewed by senior management. The projections reflect management’s expectations of revenue, segment profit, capital expenditures, working capital and operating cash flows, based on past experience and future expectations of operating performance.
Cash flows beyond the five-year period are extrapolated using perpetuity growth rates. None of the perpetuity growth rates exceed the long-term historical growth rates for the markets in which we operate.
The discount rates are applied to the cash flow projections and are derived from the weighted average cost of capital for each CGU or group of CGUs.
The following table shows the key assumptions used to estimate the recoverable amounts of the groups of CGUs.
The recoverable amounts determined in a prior year for the Bell Wireless and Bell Wireline groups of CGUs exceed their corresponding current carrying values by a substantial margin and have been carried forward and used in the impairment test for the current year. We believe that any reasonable possible change in the key assumptions on which the estimate of recoverable amounts of the Bell Wireless or Bell Wireline groups of CGUs is based would not cause their carrying amounts to exceed their recoverable amounts.
For the Bell Media group of CGUs, a decrease of (1.1%) in the perpetuity growth rate or an increase of 0.8% in the discount rate would have resulted in its recoverable amount being equal to its carrying value.
Table:
 | ASSUMPTIONS USED | 
GROUPS OF CGUs | PERPETUITY GROWTH RATE | DISCOUNT RATE
Bell Wireless | 0.8% | 9.1%
Bell Wireline | 1.0% | 6.0%
Bell Media | 1.0% | 8.0%


Question: How many components are there under the groups of CGUs?
Answer: 3
Calculation: Bell Wireless##Bell Wireline##Bell Media
18. Reconciliation of net cash flow from operating activities
The table below shows how our (loss)/profit for the year from continuing operations translates into cash flows generated from our operating activities.
Table:
 |  | 2019 | 2018 | 2017
 | Notes | €m | €m | €m
(Loss)/profit for the financial year |  | (7,644) | 2,788 | (6,079)
Loss from discontinued operations | 7 | 3,535 | 1,969 | 4,107
(Loss)/profit for the financial year from continuing operations |  | (4,109) | 4,757 | (1,972)
Non-operating expense |  | 7 | 32 | 1
Investment income |  | (433) | (685) | (474)
Financing costs |  | 2,088 | 1,074 | 1,406
Income tax expense/(credit) | 6 | 1,496 | (879) | 4,764
Operating (loss)/profit |  | (951) | 4,299 | 3,725
Adjustments for: |  |  |  | 
Share-based payments and other non-cash charges |  | 147 | 128 | 95
Depreciation and amortisation | 10, 11 | 9,795 | 10,409 | 11,086
Loss on disposal of property, plant and equipment and intangible assets | 3 | 33 | 36 | 22
Share of result of equity accounted associates and joint ventures |  | 908 | 59 | (47)
Impairment losses | 4 | 3,525 | – | –
Other expense/(income) |  | 148 | (213) | (1,052)
(Increase)/decrease in inventory |  | (131) | (26) | 117
(Increase)/decrease in trade and other receivables | 14 | (31) | (1,118) | 308
Increase/(decrease) in trade and other payables | 15 | 739 | 286 | (473)
Cash generated by operations |  | 14,182 | 13,860 | 13,781
Net tax paid |  | (1,131) | (1,118) | (761)
Cash flows from discontinued operations |  | (71) | 858 | 1,203
Net cash flow from operating activities |  | 12,980 | 13,600 | 14,223


Question: How much is the 2019 net tax?
Answer: 1,131
CTS CORPORATION AND SUBSIDIARIES Consolidated Statements of Comprehensive Earnings (in thousands)
The accompanying notes are an integral part of the consolidated financial statements.
Table:
 |  | Years Ended December 31, | 
 | 2019 | 2018 | 2017
Net earnings | $36,146 | $46,532 | $14,448
Other comprehensive earnings (loss): |  |  | 
Changes in fair market value of derivatives, net of tax | (509) | 795 | 110
Changes in unrealized pension cost, net of tax | 6,439 | (1,830) | 13,687
Cumulative translation adjustment, net of tax | 83 | (311) | 437
Other comprehensive earnings (loss) | $6,013 | $(1,346) | $14,234
Comprehensive earnings | $42,159 | $45,186 | $28,682


Question: What was the change in the Other comprehensive earnings  between 2017 and 2019?
Answer: -8221
Calculation: 6,013-14,234
d) Transaction with other related parties:
Net revenues/(expenses): The transactions with other related parties for the years ended December 31, 2019, 2018 and 2017 consisted of the following:
(i) The Cool Pool - On July 8, 2019 GasLog's vessel charter contracts had concluded and withdrew their participation from the Cool Pool. Following Gaslog's departure, we assumed sole responsibility for the management of the Cool Pool and consolidate the Cool Pool. From point of consolidation, the Cool Pool ceased to be a related party.
(ii) Magni Partners - Tor Olav Trøim is the founder of, and partner in, Magni Partners (Bermuda) Limited, a privately held Bermuda company, and is the ultimate beneficial owner of the company. Receivables and payables from Magni Partners comprise primarily of the cost (without mark-up) or part cost of personnel employed by Magni Partners who have providedadvisory and management services to Golar. These costs do not include any payment for any services provided by Tor Olav Trøim himself.
iii) Borr Drilling - Tor Olav Trøim is the founder, and director of Borr Drilling, a Bermuda company listed on the Oslo and NASDAQ stock exchanges. Receivables comprise primarily of management and administrative services provided by our Bermuda corporate office.
iv) 2020 Bulkers - 2020 Bulkers is a related party by virtue of common directorships. Receivables comprise primarily of management and administrative services provided by our Bermuda corporate office.
Table:
(in thousands of $) | 2019 | 2018 | 2017
The Cool Pool (i) | 39,666 | 151,152 | 59,838
Magni Partners (ii) | (858) | (375) | (260)
Borr Drilling (iii) | 542 | — | —
2020 Bulkers (iv) | 265 | — | —
Total | 39,615 | 150,777 | 59,578


Question: What was the change in total transaction with other related parties from 2018 to 2019?
Answer: -111162
Calculation: 39,615 - 150,777
The fair value of options granted in the respective fiscal years are estimated on the date of grant using the Black-Scholes optionpricing model, acceptable under ASC 718, with the following weighted average assumptions:
Expected volatilities are based on the Company’s historical common stock volatility, derived from historical stock price data for periods commensurate with the options’ expected life. The expected life of options granted represents the period of time options are expected to be outstanding, based primarily on historical employee option exercise behavior. The risk-free interest rate is based on the implied yield currently available on U.S. Treasury zero coupon bonds issued with a term equal to the expected life at the date of grant of the options. The expected dividend yield is zero, as the Company has historically paid no dividends and does not anticipate dividends to be paid in the future.
Table:
 | Years Ended December 31, | 
 | 2018 | 2017
Expected life (years) | 5.6 | 5.6
Risk-free interest rate | 2.7% | 1.9%
Expected volatility | 26.4% | 29.4%
Expected dividend yield | — | —


Question: What was the change in Expected volatility between 2017 and 2018?
Answer: -3
Calculation: 26.4%-29.4%
The fair value of the option component of the ESPP shares was estimated at the grant date using the Black-Scholes option pricing model with the following weighted
average assumptions:
The Company issued 266 shares, 231 shares and 183 shares under the ESPP in the years ended December 31, 2019, 2018 and 2017, respectively, at a weighted average
exercise price per share of $86.51, $77.02, and $73.02, respectively. As of December 31, 2019, the Company expects to recognize $3,531 of the total unamortized compensation cost
related to employee purchases under the ESPP over a weighted average period of 0.37 years.
Table:
 |  | Year ended December 31 | 
 | 2019 | 2018 | 2017
Expected life (in years) | 0.5 | 0.5 | 0.5
Volatility | 36% - 37% | 33% - 40% | 29% - 37%
Risk-free interest rate | 1.58 - 2.43% | 1.76% - 2.50% | 0.76% - 1.16%
Dividend yield | - % | - % | - %


Question: What is the average volatility of the fair value of the option component of the ESPP shares as at December 31, 2019?
Answer: 36.5
Calculation: (36% + 37%)/2
Contractual Obligations
The following table presents the payments due by fiscal year for our outstanding contractual obligations as of December 31, 2019 (in thousands):
(1) Includes estimated cash interest to be paid over the remaining terms of the underlying debt. Interest payments are based on fixed and floating rates as of December 31, 2019.
(2) Purchase obligations represent agreements to purchase goods or services, including open purchase orders and contracts with fixed volume commitments, that are noncancelable or cancelable with a significant penalty. Purchase obligations for our long-term supply agreements for the purchase of substrate glass and cover glass represent specified termination penalties, which are up to $430 million in the aggregate under the agreements. Our actual purchases under these supply agreements are expected to be approximately $2.4 billion of substrate glass and $500 million of cover glass.
(3) In connection with business or project acquisitions, we may agree to pay additional amounts to the selling parties upon achievement of certain milestones. See Note 14. “Commitments and Contingencies” to our consolidated financial statements for further information.
(4) Transition tax obligations represent estimated payments for U.S. federal taxes associated with accumulated earnings and profits of our foreign corporate subsidiaries. See Note 18. “Income Taxes” to our consolidated financial statements for further information.
(5) Includes expected letter of credit fees and unused revolver fees.
We have excluded $72.2 million of unrecognized tax benefits from the amounts presented above as the timing of such obligations is uncertain.
Table:
 |  |  | Payments Due by Year |  | 
 |  | Less Than | 1 - 3 | 3 - 5 | More Than
 | Total | 1 Year | Years | Years | 5 Years
Long-term debt obligations | $482,892 | $17,684 | $98,571 | $37,496 | $329,141
Interest payments (1) . | 168,040 | 17,276 | 29,533 | 27,409 | 93,822
Operating lease obligations | 162,913 | 15,153 | 28,771 | 26,708 | 92,281
Purchase obligations (2) . | 1,424,267 | 900,200 | 221,888 | 187,277 | 114,902
Recycling obligations . | 137,761 | — | — | — | 137,761
Contingent consideration (3) . | 6,895 | 2,395 | 4,500 | — | —
Transition tax obligations (4) . | 76,667 | 6,620 | 14,747 | 32,259 | 23,041
Other obligations (5) . | 10,527 | 2,933 | 5,164 | 2,430 | —
Total . | $2,469,962 | $962,261 | $403,174 | $313,579 | $790,948


Question: What do purchase obligations represent?
Answer: Purchase obligations represent agreements to purchase goods or services, including open purchase orders and contracts with fixed volume commitments, that are noncancelable or cancelable with a significant penalty.
Other Long-Term Liabilities
In-Process Revenue Contracts
As part of the Company’s previous acquisition of FPSO units from Petrojarl ASA (subsequently renamed Teekay Petrojarl AS, or Teekay Petrojarl), the Company assumed a certain FPSO contract with terms that were less favorable than the then prevailing market terms. At the time of the acquisition, the Company recognized a liability based on the estimated fair value of this contract and service obligation.
The Company is amortizing the remaining liability over the estimated remaining term of its associated contract on a weighted basis, based on the projected revenue to be earned under the contract.
Amortization of in-process revenue contracts for the year ended December 31, 2019 was $5.9 million (2018 – $14.5 million, 2017 – $27.2 million), which is included in revenues on the consolidated statements of loss. Amortization of in-process revenue contracts following 2019 is expected to be $5.9 million (2020), $5.9 million (2021) and $5.9 million (2022).
Table:
 | December 31, 2019 | December 31, 2018
 | $ | $
Deferred revenues and gains (note 2) | 28,612 | 31,324
Guarantee liabilities | 10,113 | 9,434
Asset retirement obligation | 31,068 | 27,759
Pension liabilities | 7,238 | 4,847
In-process revenue contracts | 11,866 | 17,800
Derivative liabilities (note 16) | 51,914 | 56,352
Unrecognized tax benefits (note 22) | 62,958 | 40,556
Office lease liability – long-term (note 1) | 10,254 | —
Other | 2,325 | 1,325
 | 216,348 | 189,397


Question: What was amortization of in-process revenue contracts for the year 2020, 2021 and 2022?
Answer: Amortization of in-process revenue contracts following 2019 is expected to be $5.9 million (2020), $5.9 million (2021) and $5.9 million (2022).
Note 18 – Restructuring
During the second half of 2019, the Company implemented a restructuring plan to realign its expense structure with the reduction in revenue experienced in recent years and overall Company objectives. Management assessed the efficiency of our operations and consolidated locations and personnel, among other things, where possible. As part of this restructuring plan, the Company announced plans to reduce its overall operating expenses, both in the U.S and internationally.
In February 2019, the Company announced the restructuring of certain of our workforce predominantly in Germany, which included the closure of our office location in Munich, Germany accompanied by relocation or severance benefits for the affected employees. We also offered voluntary early retirement to certain other employees, which was announced in March 2019.
In January 2018, the Company announced an early retirement incentive program for employees that met certain defined requirements. The cumulative amount incurred during the year ended December 31, 2018 related to this restructuring program was $7.3 million. We did not incur any additional expenses related to this restructuring program during the year ended December 31, 2019.
A reconciliation of the beginning and ending restructuring liability, which is included in accrued wages and benefits in the Consolidated Balance Sheets as of December 31, 2019 and 2018, is as follows:
Table:
(In thousands) | 2019 | 2018
Balance at beginning of period | $185 | $205
Plus: Amounts charged to cost and expense | 6,014 | 7,261
Less: Amounts paid | (4,631) | (7,281)
Balance at end of period | $1,568 | $185


Question: What was the balance at the end of period in 2019?
Answer: $1,568
table of contents stock performance graph * $ 100 invested on 11/17/11 in our stock or 10/31/11 in the relevant index , including reinvestment of dividends . fiscal year ending december 31 , 2015 . ( 1 ) delphi automotive plc ( 2 ) s&p 500 2013 standard & poor 2019s 500 total return index ( 3 ) automotive supplier peer group 2013 russell 3000 auto parts index , including american axle & manufacturing , borgwarner inc. , cooper tire & rubber company , dana holding corp. , delphi automotive plc , dorman products inc. , federal-mogul corp. , ford motor co. , fuel systems solutions inc. , general motors co. , gentex corp. , gentherm inc. , genuine parts co. , johnson controls inc. , lear corp. , lkq corp. , meritor inc. , standard motor products inc. , stoneridge inc. , superior industries international , tenneco inc. , tesla motors inc. , the goodyear tire & rubber co. , tower international inc. , visteon corp. , and wabco holdings inc . company index november 17 , december 31 , december 31 , december 31 , december 31 , december 31 .

Table:
company index | november 17 2011 | december 31 2011 | december 31 2012 | december 31 2013 | december 31 2014 | december 31 2015
delphi automotive plc ( 1 ) | $ 100.00 | $ 100.98 | $ 179.33 | $ 285.81 | $ 350.82 | $ 418.67
s&p 500 ( 2 ) | 100.00 | 100.80 | 116.93 | 154.80 | 175.99 | 178.43
automotive supplier peer group ( 3 ) | 100.00 | 89.62 | 109.96 | 166.26 | 176.25 | 171.91
dividends the company has declared and paid cash dividends of $ 0.25 per ordinary share in each quarter of 2014 and 2015 .
in addition , in january 2016 , the board of directors increased the annual dividend rate to $ 1.16 per ordinary share , and declared a regular quarterly cash dividend of $ 0.29 per ordinary share , payable on february 29 , 2016 to shareholders of record at the close of business on february 17 , 2016. .

Question: what is the difference in total return on delphi automotive plc and the automotive supplier peer group for the five year period ending december 31 2015?
Answer: 246.76%
Calculation: subtract(418.67, const_100), subtract(171.91, const_100), divide(#0, const_100), divide(#1, const_100), subtract(#2, #3)
Note 9 - Software Development Costs
Capitalized software development costs as of December 31, 2019 and 2018 consisted of the following (in thousands):
The weighted average remaining amortization period for the Company’s software development costs is 1.61 years.
Amortization expense for capitalized software development costs was $1.025 million and $1.2 million for each of the years ended December 31, 2019 and 2018.
Table:
 | As of December 31, | 
 | 2019 | 2018
Capitalized software development costs | $6,029 | $5,102
Accumulated amortization | (4,485) | (3,412)
Software development costs, net | 1,544 | $1,690


Question: What was the net software development costs in 2019?
Answer: 1,544
Note: Net loss equals to comprehensive loss for all years presented.
(1) Net loss per share and weighted average shares, basic and diluted are adjusted to reflect 1-for-14 reverse stock split effected on December 23, 2019.
The accompanying notes form an integral part of these Consolidated Financial Statements.
CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share amounts)
Table:
 | 2019 | 2018 | 2017
Statements of Operations: |  |  | 
Revenue | $10,310 | $12,629 | $12,149
Cost of revenue | 4,405 | 6,295 | 6,627
Gross profit | 5,905 | 6,334 | 5,522
Operating expenses: |  |  | 
Research and development | 12,350 | 9,948 | 9,572
Selling, general and administrative | 8,918 | 9,982 | 9,900
Loss from operations | (15,363) | (13,596) | (13,950)
Interest expense | (350) | (108) | (115)
Interest income and other expense, net | 189 | 77 | 21
Loss before income taxes | (15,524) | (13,627) | (14,044)
(Benefit from) Provision for income taxes | (80) | 152 | 87
Net loss | $(15,444) | $(13,779) | $(14,131)
Net loss per share: (1) |  |  | 
Basic and diluted | $(2.02) | $(2.16) | $(2.56)
Weighted average shares: |  |  | 
Basic and diluted | 7,663 | 6,365 | 5,521


Question: What is the percentage change in gross profit between 2018 and 2019?
Answer: -6.77
Calculation: (5,905 - 6,334)/6,334