hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
Segments
We are organized into two reportable operating segments: OLS and ILS. While both segments deliver cost-effective, highly reliable photonics solutions, OLS is focused on high performance laser sources and complex optical sub-systems, typically used in microelectronics manufacturing, medical diagnostics and therapeutic applications, as well as in scientific research. ILS delivers high performance laser sources, sub-systems and tools primarily used for industrial laser materials processing, serving important end markets like automotive, machine tool, consumer goods and medical device manufacturing.
The following table sets forth, for the periods indicated, the amount of net sales and their relative percentages of total net sales by segment (dollars in thousands):
Net sales for fiscal 2019 decreased $471.9 million, or 25%, compared to fiscal 2018, with decreases of $372.8 million, or 30%, in our OLS segment and decreases of $99.1 million, or 15%, in our ILS segment. The fiscal 2019 decreases in both OLS and ILS segment sales included decreases due to the unfavorable impact of foreign exchange rates.
The decrease in our OLS segment sales in fiscal 2019 was primarily due to weaker demand resulting in lower shipments of ELA tools used in the flat panel display market and lower revenues from consumable service parts.
The decrease in our ILS segment sales from fiscal 2018 to fiscal 2019 was primarily due to lower sales for materials processing and microelectronics applications, partially offset by higher sales for medical and military applications within the OEM components and instrumentation market.
Table:
 | Fiscal 2019 |  | Fiscal 2018 | 
 | Amount | Percentage of total net sales | Amount | Percentage of total net sales
OEM Laser Sources (OLS) | $886,676 | 62.0% | $1,259,477 | 66.2%
Industrial Lasers & Systems (ILS) | 543,964 | 38.0% | 643,096 | 33.8%
Total | $1,430,640 | 100.0% | $1,902,573 | 100.0%


Question: In which year was ILS a higher percentage of total net sales?
Answer: 2019
Calculation: 38.0%>33.8%
Accrued expenses consisted of the following (in thousands):
Contract liabilities represent amounts that are collected in advance of the satisfaction of performance obligations under the new revenue recognition standard. See Recently Adopted Accounting Standards in Note 2 and Contract Liabilities in Note 6.
Table:
 | December 31, | December 31,
 | 2019 | 2018
Accrued payroll and related taxes | $3,985 | $3,800
Accrued federal, state, and local taxes | 2,635 | 1,827
Accrued bonus | 20,206 | 10,766
Self-insurance reserves | 2,238 | —
Employee stock purchase plan contributions | 4,716 | 6,473
Accrued sales commissions | 5,397 | 6,889
Accrued partner commissions | 7,043 | 5,535
Contract liabilities | 5,197 | —
Accrued purchase price related to acquisitions | 2,763 | —
Other | 7,924 | 6,811
Total | $62,104 | $42,101


Question: Where are the relevant parts of the annual report pertaining to contract liabilities?
Answer: Recently Adopted Accounting Standards in Note 2 and Contract Liabilities in Note 6.
6. Inventories
Inventories at April 30, 2019 and 2018, respectively, consisted of the following (in thousands):
For the year ended April 30, 2018, the Company recorded a non-cash write-down of approximately $5.6 million of inventory. Inventory write-down resulted from two principal factors: (1) adoption by satellite manufacturers of policies precluding the use of parts and components over ten years old. This policy was unanticipated and resulted in reduced likelihood of FEI being able to use inventory that exceeds that threshold, and (2) changing technology associated with the advanced analog-to-digital converters which enables direct synthesis of certain frequencies for which FEI previously provided frequency conversion technology, reducing the likelihood that some parts and components associated with frequency conversion will be usable. Additionally, the Company’s new inventory reserve policy resulted in a charge of $1.1 million in the fiscal year ended April 30, 2019. Inventory reserves included in inventory were $6.6 million and $5.5 million for the fiscal years ended April 30, 2019 and 2018, respectively.
Table:
 | 2019 | 2018
Raw Materials and Component Parts | $11,600 | $ 16,206
Work in Progress | 8,896 | 8,216
Finished Goods | 2,860 | 1,764
 | $23,356 | $ 26,186


Question: What is the percentage change of amount of inventory from 2018 and 2019 ?
Answer: -10.81
Calculation: (23,356-26,186)/26,186
A reconciliation of the change in gross unrecognized tax benefits, excluding interest and penalties,
is as follows (in thousands):
As of September 28, 2019, the total amount of gross unrecognized tax benefits including gross interest and penalties was $63.9 million, of which $43.9 million, if recognized, would affect our effective tax rate. We reassessed the computation of the transition tax liability based upon the issuance of new guidance and the availability of additional substantiation in fiscal 2019. The adjustments resulted in a tax benefit of approximately $6.0 million, which was recorded in fiscal 2019. Our total gross unrecognized tax benefit, net of certain deferred tax assets is classified as a long-term taxes payable in the consolidated balance sheets. We include interest and penalties related to unrecognized tax benefits within the provision for income taxes. As of September 28, 2019, the total amount of gross interest and penalties accrued was $5.8 million and it is classified as long-term taxes payable in the consolidated balance sheets. As of September 29, 2018, we had accrued $4.4 million for the gross interest and penalties and it is classified as Other long-term liabilities in the consolidated balance sheets.
Table:
 |  | Fiscal year-end | 
 | 2019 | 2018 | 2017
Balance as of the beginning of the year | $65,882 | $47,566 | $20,442
Increase related to acquisitions | — | — | 25,151
Tax positions related to current year: |  |  | 
Additions | 605 | 19,033 | 1,326
Reductions | — | — | —
Tax positions related to prior year: |  |  | 
Additions | 448 | 117 | 4,951
Reductions | (6,071) | — | (65)
Lapses in statutes of limitations | (639) | (700) | (610)
Decrease in unrecognized tax benefits based on audit results | — | — | (5,217)
Foreign currency revaluation adjustment | (2,114) | (134) | 1,588
Balance as of end of year | $58,111 | $65,882 | $47,566


Question: What was the percentage change in Balance as of the beginning of the year in 2019 from 2018?
Answer: 38.51
Calculation: (65,882-47,566)/47,566
RSUs
The Company’s RSUs include time-based RSUs, RSUs with performance conditions (“PSUs”), RSUs with market conditions (“MSUs”), and RSUs with both market and performance conditions (“MPSUs”). Vesting of awards with performance conditions or market conditions is subject to the achievement of pre-determined performance goals and the approval of such achievement by the Compensation Committee of the Board of Directors (the “Compensation Committee”). All awards include service conditions which require continued employment with the Company.
A summary of RSU activity is presented in the table below (in thousands, except per-share amounts):
(1) Amount reflects the number of awards that may ultimately be earned based on management’s probability assessment of the achievement of performance conditions at each reporting period.
The intrinsic value related to vested RSUs was $138.3 million, $90.0 million and $74.0 million for the years ended December 31, 2019, 2018 and 2017, respectively. As of December 31, 2019, the total intrinsic value of all outstanding RSUs was $679.5 million, based on the closing stock price of $178.02. As of December 31, 2019, unamortized compensation expense related to all outstanding RSUs was $100.1 million with a weighted-average remaining recognition period of approximately three years.
Cash proceeds from vested PSUs with a purchase price totaled $16.6 million and $10.6 million for the years ended December 31, 2019 and 2018, respectively. There were no proceeds for the year ended December 31, 2017.
Table:
 | Time-Based RSUs |  | PSUs and MPSUs |  | MSUs |  | Total | 
 | Number of Shares | Weighted- Average Grant Date Fair Value Per Share | Number of Shares | Weighted- Average Grant Date Fair Value Per Share | Number of Shares | Weighted- Average Grant Date Fair Value Per Share | Number of Shares | Weighted- Average Grant Date Fair Value Per Share
Outstanding at January 1, 2017 | 366 | $51.35 | 2,284 | $43.24 | 1,620 | $23.57 | 4,270 | $36.47
Granted | 81 | $94.25 | 585(1) | $62.72 | - | $- | 666 | $66.56
Vested | (175) | $48.35 | (597) | $41.94 | - | $- | (772) | $43.39
Forfeited | (14) | $61.8 | (6) | $49.82 | - | $- | (20) | $58.46
Outstanding at December 31, 2017 | 258 | $66.3 | 2,266 | $48.59 | 1,620 | $23.57 | 4,144 | $39.91
Granted | 133 | $114.36 | 630(1) | $85.06 | 600 | $68.48 | 1,363 | $80.62
Vested | (136) | $60.23 | (717) | $41.08 | - | $- | (853) | $44.13
Forfeited | (15) | $82.2 | (5) | $63.16 | (1) | $68.48 | (21) | $76.92
Outstanding at December 31, 2018 | 240 | $95.38 | 2,174 | $61.61 | 2,219 | $35.69 | 4,633 | $50.94
Granted | 52 | $142.32 | 512(1) | $99.88 | - | $- | 564 | $103.68
Vested | (103) | $81.53 | (656) | $53.72 | (324) | $23.57 | (1,083) | $47.34
Forfeited | (9) | $117.31 | (43) | $42.72 | (9) | $68.48 | (61) | $57.01
Outstanding at December 31, 2019 | 180 | $115.45 | 1,987 | $74.50 | 1,886 | $37.63 | 4,053 | $59.16


Question: What was the intrinsic value related to vested RSUs for the year ended December 31, 2018?
Answer: $90.0 million
Seasonality and Backlog
We experience a slight seasonal pattern to our business. Overall, the third and fourth fiscal quarters are typically the strongest quarters of our fiscal year, whereas the first fiscal quarter is negatively affected by holidays and the second fiscal quarter may be affected by adverse winter weather conditions in some of our markets.
Certain of our end markets experience some seasonality. Our sales in the automotive market are dependent upon global automotive production, and seasonal declines in European production may negatively impact net sales in the fourth fiscal quarter. Also, our sales in the energy market typically increase in the third and fourth fiscal quarters as customer activity increases.
Customer orders typically fluctuate from quarter to quarter based upon business and market conditions. Backlog is not necessarily indicative of future net sales as unfilled orders may be cancelled prior to shipment of goods. Backlog by reportable segment was as follows:
We expect that the majority of our backlog at fiscal year end 2019 will be filled during fiscal 2020.
Table:
 |  | Fiscal Year End
 | 2019 | 2018
 |  | (in millions)
Transportation Solutions | $ 1,639 | $ 1,779
Industrial Solutions | 1,315 | 1,245
Communications Solutions | 361 | 441
Total | $ 3,315 | $ 3,465


Question: In which year was Communications Solutions larger?
Answer: 2018
Calculation: 441>361
A. Operating Results
YEAR ENDED DECEMBER 31, 2019 COMPARED TO YEAR ENDED DECEMBER 31, 2018
Management believes that net voyage revenue, a non-GAAP financial measure, provides additional meaningful information because it enables us to compare the profitability of our vessels which are employed under bareboat charters, spot related time charters and spot charters. Net voyage revenues divided by the number of days on the charter provides the Time Charter Equivalent (TCE) Rate. Net voyage revenues and TCE rates are widely used by investors and analysts in the tanker shipping industry for comparing the financial performance of companies and for preparing industry averages. We believe that our method of calculating net voyage revenue is consistent with industry standards. The table below reconciles our net voyage revenues to voyage revenues.
Table:
 |  | Years Ended December 31,     | 
All figures in USD ‘000  | 2019 | 2018 | Variance 
Voyage Revenue   | 317,220 | 289,016 | 9.8%
Voyage Expenses   | (141,770) | (165,012) | (14.1%)
Vessel Operating Expenses   | (66,033) | (80,411) | (17.9%)
Impairment Loss on Vessels   | - | (2,168) | N/A 
Impairment Loss on Goodwill   | - | - | N/A 
Loss from Disposal of Vessels   | - | (6,619) | N/A 
General and Administrative Expenses   | (13,481) | (12,727) | 5.9%
Depreciation Expenses   | (63,965) | (60,695) | 5.4%
Net Operating (Loss) Income   | 31,971 | (38,616) | (182.8%)
Interest Income   | 298 | 334 | (10.8%)
Interest Expenses   | (38,390) | (34,549) | 11.1%
Other Financial Expenses   | (4,231) | (14,808) | (71.4%)
Equity Loss from Associate   | - | (7,667) | N/A 
Net (Loss) Income   | (10,352) | (95,306) | (89.1%)


Question: What are the respective voyage revenue in 2018 and 2019?
Answer: 289,016, 317,220
Disaggregation of Total Net Sales: We disaggregate our sales from contracts with customers by end customer, contract type, deliverable type and revenue recognition method for each of our segments, as we believe these factors affect the nature, amount, timing, and uncertainty of our revenue and cash flows.
Sales by Geographic Region (in millions):
Table:
 |  | Years Ended September 30, | 
 | 2019 | 2018 | 2017
United States | $  956.6 | $  627.8 | $  522.8
United Kingdom | 218.2 | 240.7 | 219.4
Australia | 163.5 | 166.7 | 175.6
Far East/Middle East | 74.0 | 86.4 | 112.7
Other | 84.2 | 81.3 | 77.2
Total sales | $1,496.5 | $1,202.9 | $1,107.7


Question: What is the percentage change in the amount of Other in 2019 from 2018?
Answer: 3.57
Calculation: (84.2-81.3)/81.3
7 Revenue
Revenue recognised in the Consolidated Statement of Profit or Loss is analysed as follows:
Table:
 | Year-ended 31 March 2019 | Year-ended 31 March 2018 Restated See note 2
Revenue by Product: | $M | $M
Network | 328.5 | 316.5
Enduser | 348.4 | 291.8
Other | 33.7 | 30.7
Total | 710.6 | 639.0


Question: What are the product types analyzed in the table which contribute to the Revenue recognised in the Consolidated Statement of Profit or Loss?
Answer: Network, Enduser, Other
12. Government grants
The following government grants are included within creditors:
A government grant has been received to accelerate and support research and development in the vulnerability of global navigation satellite systems.
Table:
 | 2019 | 2018
 | £ million | £ million
Current | 0.7 | 0.3
Non-current | 0.1 | 0.8
 | 0.8 | 1.1


Question: What are the types of government grants included within creditors?
Answer: Current, Non-current
NOTE 3. PROPERTY AND EQUIPMENT
The classification of property and equipment, together with their estimated useful lives is as follows:
(1) Excludes assets held for sale
(2) Lesser of lease term or estimated useful life
The change in property and equipment in accrued liabilities was $14,315 and $15,674 for the fiscal years ended June 30, 2019 and 2018, respectively. These amounts were excluded from capital expenditures on the statements of cash flows.
No impairments of property and equipment were recorded in fiscal 2019 or 2018.
During the third quarter of fiscal 2019, the Company received an unsolicited offer to purchase its Houston, TX, facility. At June 30, 2019, the facility included assets with a carrying value of approximately $5,055. Although management has not committed to the sale, a sale of the facility during fiscal 2020 is likely and the Company expects to record a gain on the sale upon closing, since the offer represents full appraisal value for the facility. Therefore, the assets are considered held for sale at June 30, 2019. Also held for sale at June 30, 2019, was the Company’s Elizabethtown, KY facility. During the third quarter of fiscal 2018, the Company reached a definitive agreement to sell the property for $1,300 pending an expected closing date during the second quarter of fiscal 2020. An impairment loss was recorded on this facility during fiscal 2017 as disclosed in Note 2 to the Company’s consolidated financial statements. Total assets held for sale by the Company at June 30, 2019 and 2018 were $6,355 and $1,300, respectively, and were included in assets held for sale on the Company’s consolidated balance sheet for each year. Those balances are not included on the above table.
Table:
 | June 30, |  | 
 | 2019 | 2018 | Estimated Useful Life
Land (1) | $23,243 | $24,845 | 
Land improvements (1) | 25,209 | 25,383 | 5 - 20 years
Buildings (1) | 147,220 | 143,918 | 20 - 30 years
Leasehold improvements | 48,478 | 48,060 | 5 - 30 years(2)
Equipment and furniture | 365,101 | 328,864 | 3 - 10 years
Aircraft and equipment | 39,293 | 38,761 | 4 - 10 years
Construction in progress | 12,411 | 39,872 | 
 | 660,955 | 649,703 | 
Less accumulated depreciation | 388,481 | 364,153 | 
Property and equipment, net | $272,474 | $285,550 | 


Question: Between 2018 and 2019 year end, which year had a higher amount of equipment and furniture?
Answer: 2019
Calculation: 365,101>328,864
The actual return on plan assets amounted to €125 million in the reporting period (2017/ 18: €45 million).
For financial year 2019/20, the company expects employer payments to external pension providers totalling approximately €18 million and employee contributions of €9 million in plan assets, with contributions in the Netherlands, Belgium and Germany accounting for the major share of this total. Expected contributions from payment contribution commitments in Germany are not included in expected payments.
The fair value of plan assets developed as follows:
At one Dutch company, plan assets exceeded the value of commitments as of the closing date. Since the company cannot draw any economic benefits from this overfunding, the balance sheet amount was reduced to €0 in line with IAS 19.64 (b).
Table:
€ million | 2017/2018 | 2018/2019
Change in plan assets |  | 
Fair value of plan assets as of beginning of period | 905 | 940
Recognised under | 21 | 23
Interest income | 21 | 23
Recognised outside of profit or loss under ‘remeasurement of defined benefit pension plans’ in other comprehensive income | 24 | 102
Gains/losses from plan assets excl. interest income (+/−) | 24 | 102
Other effects | −10 | 0
Benefit payments (incl. tax payments) | −34 | −27
Settlement payments | −6 | 0
Employer contributions | 35 | 18
Contributions from plan participants | 11 | 9
Change in consolidation group / transfers | 0 | 0
Reclassification in accordance with IFRS5 | −16 | 0
Currency effects | 0 | 1
Fair value of plan assets as of end of period | 940 | 1,066


Question: What is not included in expected payments?
Answer: Expected contributions from payment contribution commitments in Germany
Plan Summaries
As of January 3, 2020, the Company had stock-based compensation awards outstanding under the following plans: the 2017 Omnibus Incentive Plan, 2006 Equity Incentive Plan, as amended, and the 2006 Employee Stock Purchase Plan, as amended ("ESPP"). Leidos issues new shares upon the issuance of the vesting of stock units or exercising of stock options under these plans.
In fiscal 2017, stockholders approved the 2017 Omnibus Incentive Plan which provides the Company and its affiliates' employees, directors and consultants the opportunity to receive various types of stock-based compensation awards, such as stock options, restricted stock units and performance-based awards, as well as cash awards.
The Company grants service-based awards that generally vest or become exercisable 25% a year over four years or cliff vest in three years. As of January 3, 2020, 4.4 million shares of Leidos' stock were reserved for future issuance under the 2017 Omnibus Incentive Plan and the 2006 Equity Incentive Plan.
The Company offers eligible employees the opportunity to defer restricted stock units into an equity-based deferred equity compensation plan, the Key Executive Stock Deferral Plan ("KESDP"). Prior to 2013, the Company offered an additional opportunity for deferrals into the Management Stock Compensation Plan ("MSCP"). Benefits from these plans are payable in shares of Leidos' stock that are held in a trust for the purpose of funding shares to the plans' participants.
Restricted stock units deferred under the KESDP are counted against the total shares available for future issuance under the 2017 Omnibus Incentive Plan. All awards under the MSCP are fully vested and the plan does not provide for a maximum number of shares available for future issuance.
The Company's ESPP allows eligible employees to purchase shares of Leidos' stock at a discount of up to 15% of the fair market value on the date of purchase. During the first half of fiscal 2018 and 2017, the discount was 5% of the fair market value on the date of purchase, thereby resulting in the ESPP being non-compensatory. Effective the second half of fiscal 2018, the Company increased the discount to 10% of the fair market value on the date of purchase, resulting in the ESPP being compensatory.
During fiscal 2019, 2018 and 2017, $25 million, $11 million and $10 million, respectively, was received from ESPP plan participants for the issuance of Leidos' stock. A total of 4.2 million shares remain available for future issuance under the ESPP.
Stock-based compensation and related tax benefits recognized under all plans were as follows:
Table:
 |  | Year Ended | 
 | January 3, 2020 | December 28, 2018 | December 29, 2017
 |  | (in millions) | 
Total stock-based compensation expense | $52 | $44 | $43
Tax benefits recognized from stock-based compensation | 13 | 11 | 17


Question: What was the Total stock-based compensation expense in 2020, 2018 and 2017 respectively?
Answer: $52, $44, $43
3. VOYAGE REVENUES
Our voyage revenues consist of time charter revenues and spot charter revenues with the following split:
*Spot charter revenues for 2019 and 2018 are presented in accordance we ASC 606 Revenue from Contracts with Customers. The comparative information for 2017 has not been restated.
Table:
All amounts in USD ‘000  | 2019 | 2018 | 2017
Spot charter revenues* | 283,007 | 259,978 | 257,495
Time charter revenues   | 34,213 | 29,038 | 39,646
Total Voyage Revenues   | 317,220 | 289,016 | 297,141


Question: What are the respective spot charter revenues in 2018 and 2019?
Answer: 259,978, 283,007
16. Segment, Geographic, and Significant Customer Information
We operate in one industry segment: the design, manufacturing, marketing, and technical support of high-performance storage and data management solutions. We conduct business globally, and our sales and support activities are managed on a geographic basis. Our management reviews financial information presented on a consolidated basis, accompanied by disaggregated information it receives from our internal management system about revenues by geographic region, based on the location from which the customer relationship is managed, for purposes of allocating resources and evaluating financial performance. We do not allocate costs of revenues, research and development, sales and marketing, or general and administrative expenses to our geographic regions in this internal management reporting because management does not review operations or operating results, or make planning decisions, below the consolidated entity level.
Summarized revenues by geographic region based on information from our internal management system and utilized by our Chief Executive Officer, who is considered our Chief Operating Decision Maker, is as follows (in millions):
Americas revenues consist of sales to Americas commercial and U.S. public sector markets. Sales to customers inside the U.S. were $3,116 million, $2,878 million and $2,721 million during fiscal 2019, 2018 and 2017, respectively.
Table:
 |  | Year Ended | 
 | April 26, 2019 | April 27, 2018 | April 28, 2017
United States, Canada and Latin America (Americas) | $ 3,425 | $ 3,207 | $ 3,021
Europe, Middle East and Africa (EMEA) | 1,847 | 1,873 | 1,741
Asia Pacific (APAC) | 874 | 839 | 729
Net revenues | $ 6,146 | $ 5,919 | $ 5,491


Question: Which years does the table provide information for Summarized revenues by geographic region?
Answer: 2019, 2018, 2017