hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
Item 10. Directors, Executive Officers and Corporate Governance.
Executive Officers and Directors
The following sets forth certain information with respect to our executive officers and directors..
Garo H. Armen, PhD, Executive Chairman, is one of our founders and joined us in September 2004. Garo H. Armen is Chairman and Chief Executive Officer of Agenus
Inc., a biotechnology company he co-founded in 1994. From mid-2002 through 2004, he also served as Chairman of the Board of the biopharmaceutical company Elan
Corporation, plc, which he successfully restructured. Prior to Agenus Inc., Dr. Armen established Armen Partners, a money management firm specializing in biotechnology and
pharmaceutical companies and was the architect of the widely publicized creation of the Immunex Lederle oncology business in 1993. Earlier, he was a senior vice president of
research at Dean Witter Reynolds, having begun his career on Wall Street as an analyst and investment banker at EF Hutton. In 2002, Dr. Armen founded the Children of
Armenia Fund, a nonprofit organization dedicated to significantly rebuilding and revitalizing impoverished rural Armenian towns to provide immediate and sustainable benefits
to children and youth. He received the Ellis Island Medal of Honor in 2004 for his humanitarian efforts, and received the Sabin Humanitarian Award from the Sabin Vaccine
Institute in 2006 for his achievements in biotechnology and progressing medical research. Dr. Armen was also the Ernst & Young 2002 New York City Biotechnology
Entrepreneur of the Year, and received a Wings of Hope Award in 2005 from The Melanoma Research Foundation for his ongoing commitment to the melanoma community. Dr.
Armen received a PhD in physical chemistry from the Graduate Center, City University of New York, after which he worked as a research fellow at Brookhaven National
Laboratories in Long Island, NY. Dr. Armen brings to our Board a deep historical and practical knowledge of the business of the Company and its technologies, as well as
years of expertise in the financial and biopharmaceutical arenas.
Table:
Name | Age | Position (s)
Garo H. Armen | 67 | Executive Chairman of the Board of Directors
Alexander K. Arrow | 49 | Chief Financial Officer
Robert B. Stein | 69 | Director
Khalil Barrage | 55 | Director
Brian J. Corvese | 62 | Director
Josh Silverman | 49 | Director


Question: Who is the Executive chairman of the Board of Directors?
Answer: Garo H. Armen
AMERICAN TOWER CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Tabular amounts in millions, unless otherwise disclosed)
Additional information relating to the total assets of the Company’s operating segments is as follows for the years ended December 31,:
(1) Total assets in each of the Company’s property segments includes the Right-of-use asset recognized in connection with the Company’s adoption of the new lease accounting standard.
(2) Balances are translated at the applicable period end exchange rate, which may impact comparability between periods.
(3) Balances include corporate assets such as cash and cash equivalents, certain tangible and intangible assets and income tax accounts that have not been allocated to specific segments.
Table:
 | 2019 (1) | 2018 | 2017
U.S. property | $22,624.6 | $18,782.0 | $19,032.6
Asia property (2) | 5,307.8 | 4,938.8 | 4,770.8
Africa property (2) | 4,711.1 | 1,929.7 | 1,673.4
Europe property (2) | 1,535.3 | 1,438.1 | 1,540.2
Latin America property (2) | 8,125.5 | 5,594.7 | 5,868.4
Services | 26.8 | 46.3 | 42.3
Other (3) | 470.5 | 280.8 | 286.6
Total assets | $42,801.6 | $33,010.4 | $33,214.3


Question: How many years did other assets exceed $300 million?
Answer: 1
Calculation: 2019
Foreign Currency Analysis
We generate a significant amount of our revenue in the United States, Germany, Japan, the United Kingdom and Canada
The following table shows the impact of foreign exchange rate changes on our net revenue and total spend:
(1) Please refer to the Glossary of Terms for the definitions of our constant currency growth rates.
Changes in the value of the U.S. dollar may have a significant effect on net revenue, total spend, and income (loss) from operations in future periods. We use foreign currency contracts to reduce the exchange rate effect on a portion of the net revenue of certain anticipated transactions but do not attempt to completely mitigate the impact of fluctuations of such foreign currency against the U.S. dollar.
Table:
 | Fiscal Year Ended January 31, 2019 |  | 
 | Percent change compared to prior fiscal year (as reported) | Constant currency percent change compared to prior fiscal year (1) | Positive/negative/neutral impact from foreign exchange rate changes
Revenue | 25% | 24% | Positive
Total spend | 1% | 1% | Neutral


Question: How much did the foreign exchange rate changes impact percent change in revenue?
Answer: 1
Calculation: 25%-24%
ADVANCED ENERGY INDUSTRIES, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (continued)
(in thousands, except per share amounts)
In 2019, Advanced Energy finalized the assessment of fair value for the assets acquired and liabilities assumed related to the LumaSense acquisition. The following table summarizes the fair values of the assets acquired and liabilities assumed from the LumaSense acquisition, including measurement period adjustments.
During 2019, we adjusted the estimated values of the assets acquired and liabilities assumed based upon the final valuation report. These adjustments included additional liabilities, changes to deferred taxes and changes in the allocation of excess purchase price between goodwill and intangibles.
Table:
 | Preliminary: December 31, 2018 | Measurement Period Adjustments | Adjusted: December 31, 2019
Accounts and other receivable, net | $  7,167 | $ - | $  7,167
Inventories | 9,372 | - | 9,372
Property and equipment | 1,353 | - | 1,353
Goodwill | 48,032 | (11,774) | 36,258
Intangible assets | 26,000 | 17,240 | 43,240
Deferred income tax assets | 8,116 | (1,785) | 6,331
Other assets | 5,126 | 878 | 6,004
Total assets acquired | 105,166 | 4,559 | 109,725
Accounts payable | 5,734 | - | 5,734
Deferred income tax liabilities | 7,984 | 3,715 | 11,699
Other liabilities | 6,764 | 844 | 7,608
Total liabilities assumed | 20,482 | 4,559 | 25,041
Total fair value of net assets acquired | $  84,684 | $  - | $  84,684


Question: What was the percentage change in the fair value of Goodwill between 2018 and 2019?
Answer: -24.51
Calculation: (36,258-48,032)/48,032
9. Pensions continued
Defined benefit plans continued
ii) Amounts in the financial statements continued
e) Movements in the fair value of plans’ assets
Table:
 | 2019 | 2018
 | $ million | $ million
At 1 January | 254.2 | 282.6
Interest income on plans’ assets | 7.0 | 7.0
Employer contributions | 6.6 | 6.8
Benefit payments | (11.4) | (12.1)
Plan administration expenses | (0.6) | (0.5)
Re-measurement gain/(loss) on plans’ assets | 25.8 | (14.2)
Exchange adjustment | 9.5 | (15.4)
Fair value of plans’ assets | 291.1 | 254.2


Question: What does the table record movements in?
Answer: the fair value of plans’ assets
Liability Insurance
The Company carries property, general liability, vehicle liability, directors’ and officers’ liability and workers’ compensation insurance. Additionally, the Company carries an umbrella liability policy to provide excess coverage over the underlying limits of the aforementioned primary policies.
The Company’s insurance programs for workers’ compensation, general liability, and employee related health care benefits are provided through high deductible or self-insured programs. Claims in excess of self-insurance levels are fully insured subject to policy limits. Accruals are based on historical claims experience, actual claims filed, and estimates of claims incurred but not reported.
The Company’s liabilities for unpaid and incurred, but not reported claims, for workers’ compensation, general liability, and health insurance at September 2019 and September 2018 was $1.5 million and $1.6 million, respectively. These amounts are included in accrued expenses in the accompanying Consolidated Balance Sheets. While the ultimate amount of claims incurred is dependent on future developments, in the Company’s opinion, recorded reserves are adequate to cover the future payment of claims previously incurred. However, it is possible that recorded reserves may not be adequate to cover the future payment of claims.
Adjustments, if any, to claims estimates previously recorded, resulting from actual claim payments, are reflected in operations in the periods in which such adjustments are known.
A summary of the activity in the Company’s self-insured liabilities reserve is set forth below (in millions):
Table:
 | 2019 | 2018
Beginning balance | $1.6 | $1.5
Charged to expense | 5.4 | 5.8
Payments | (5.5) | (5.7)
Ending balance | $ 1.5 | $ 1.6


Question: How are the company's insurance programs for workers’ compensation, general liability, and employee related health care benefits are provided?
Answer: high deductible or self-insured programs.
ITEM 6. SELECTED FINANCIAL DATA
The selected consolidated statements of operations data for the years ended December 31, 2019, 2018 and 2017 and the selected consolidated balance sheet data as of December 31, 2019 and 2018 are derived from our audited consolidated financial statements included elsewhere in this Annual Report. The selected consolidated statements of operations data for the years ended December 31, 2016 and 2015 and the selected consolidated balance sheet data as of December 31, 2017, 2016 and 2015 are derived from our audited consolidated financial statements not included in this Annual Report. Our historical results are not necessarily indicative of the results to be expected in the future. The selected financial data should be read together with Item 7. "Management’s Discussion and Analysis of Financial Condition and Results of Operations" and in conjunction with our consolidated financial statements, related notes, and other financial information included elsewhere in this Annual Report. The following tables set forth our selected consolidated financial and other data for the years ended and as of December 31, 2019, 2018, 2017, 2016 and 2015 (in thousands, except share and per share data).
Information about prior period acquisitions that may affect the comparability of the selected financial information presented below is included in Item 1. Business. Information about the $28.0 million expense recorded in general and administrative expense in 2018, which relates to the agreement reached to settle the legal matter alleging violations of the Telephone Consumer Protection Act, or TCPA, and may affect the comparability of the selected financial information presented below, is disclosed in Item 3. “Legal Proceedings.” Information about the $1.7 million of interest recorded within interest income and the $6.9 million of gain recorded within other income, net, in 2019, which relates to promissory note proceeds received from one of our hardware suppliers and proceeds from an acquired promissory note, and may affect the comparability of the selected financial information presented below, is disclosed in Item 7. "Management’s Discussion and Analysis of Financial Condition and Results of Operations."
Certain previously reported amounts in the consolidated statements of operations for the years ended December 31, 2018, 2017, 2016 and 2015 have been reclassified to conform to our current presentation to reflect interest income as a separate line item, which was previously included in other income, net.
Table:
 |  |  | Year Ended December 31, |  | 
 | 2019 | 2018 | 2017 | 2016 | 2015
Stock-based compensation expense data: |  |  |  |  | 
Sales and marketing | $2,075 | $1,196 | $561 | $536 | $372
General and administrative | 6,474 | 4,901 | 2,638 | 1,430 | 2,486
Research and development | 12,054 | 7,332 | 4,214 | 2,035 | 1,266
Total stock-based compensation expense | $20,603 | $13,429 | $7,413 | $4,001 | $4,124


Question: What was the change in the amount of research and development between 2018 and 2019?
Answer: 4722
Calculation: 12,054-7,332
Product Licensing Segment
(1) Excludes operating expenses which are not allocated on a segment basis.
Product Licensing revenue for the year ended December 31, 2019 was $198.1 million as compared to $219.7 million for the year ended December 31, 2018, a decrease of $21.6 million. The decrease in revenue was primarily due to the timing and duration of minimum guarantee contracts up for renewal and executed, decreased NRE services revenue, as well as a decrease in per-unit royalty revenue in 2019 as compared to 2018.
Table:
 |  | Years Ended December 31, | 
 | 2019 | 2018 | 2017
 |  | (in thousands) | 
Revenue: |  |  | 
Royalty and license fees | $198,124 | $219,708 | $167,923
Total revenue | 198,124 | 219,708 | 167,923
Operating expenses: |  |  | 
Cost of revenues | 8,460 | 13,291 | 6,308
Research, development and other related costs | 83,613 | 78,892 | 75,809
Litigation | 1,656 | — | 288
Amortization | 88,075 | 88,544 | 90,340
Total operating expenses (1) | 181,804 | 180,727 | 172,745
Total operating income (loss) | $16,320 | $38,981 | $(4,822)


Question: What is the percentage change in total revenue in 2019 compared to 2018?
Answer: -9.82
Calculation: (198,124-219,708)/219,708
Fiscal 2021 LTIP
Grants made in Fiscal 2019 under the Fiscal 2021 LTIP took effect on August 6, 2018 with the goal of measuring performance over the three year period starting July 1, 2018. The table below illustrates the target value of each element under the Fiscal 2021 LTIP for each Named Executive Officer.
Awards granted in Fiscal 2019 under the Fiscal 2021 LTIP were in addition to the awards granted in Fiscal 2018, Fiscal 2017, and prior years. For details of our previous LTIPs, see Item 11 of our Annual Report on Form 10-K for the appropriate year.
Table:
Named Executive Officer | Performance Share Units | Restricted Share Units | Stock Options | Total
Mark J. Barrenechea | $2,815,000 | $1,407,500 | $1,407,500 | $5,630,000
Madhu Ranganathan | $500,000 | $250,000 | $250,000 | $1,000,000
Muhi Majzoub | $550,000 | $275,000 | $275,000 | $1,100,000
Gordon A. Davies | $500,000 | $250,000 | $250,000 | $1,000,000
Simon Harrison | $218,750 | $109,375 | $109,375 | $437,500


Question: What does the table represent?
Answer: illustrates the target value of each element under the Fiscal 2021 LTIP for each Named Executive Officer
In November 2017, GMSL acquired the trenching and cable laying services business from Fugro N.V. ("Fugro"). As part of the transaction, Fugro became a 23.6% holder of GMSL's parent, Global Marine Holdings, LLC ("GMH"). GMSL, in the normal course of business, incurred revenue and expenses with Fugro for various services.
For the years ended December 31, 2019 and 2018, GMSL recognized $11.3 million and $9.3 million respectively, of expenses for transactions with Fugro. For the year ended December 31, 2019 GMSL recognized $0.8 million of revenues. The parent company of GMSL, GMH, incurred management fees of $0.6 million for each of the years ended December 31, 2019 and 2018.
GMSL also has transactions with several of their equity method investees. A summary of transactions with such equity method investees and balances outstanding are as follows (in millions):
Table:
 | Years Ended December 31, | 
 | 2019 | 2018
Net revenue | $ 6.4 | $ 21.8
Operating expenses | $ 1.0 | $ 4.8
Interest expense | $ 1.0 | $ 1.3
 | December 31, | 
 | 2019 | 2018
Accounts receivable | $ 1.2 | $ 5.0
Long-term obligations | $ 22.5 | $ 28.5
Accounts payable | $ 0.1 | $ 2.2
Dividends | $ 4.5 | $ 25.8


Question: What is the increase / (decrease) in the net revenue from 2018 to 2019?
Answer: -15.4
Calculation: 6.4 - 21.8
The following table provides detail of amounts reclassified from AOCL:
(1) These accumulated other comprehensive components are included in our derivative and hedging activities. See Note 15, “Derivatives and Hedging Activities,” of the Notes to Consolidated Financial Statements for additional details.
Table:
(In millions) | 2019 | 2018 | 2017 | Location of Amount Reclassified from AOCL
Defined benefit pension plans and other post-employment benefits: |  |  |  | 
Prior service credits | $ 0.1 | $0.3 | $ 1.3 | 
Actuarial losses | (4.9) | (3.1) | (10.0) | 
Total pre-tax amount | (4.8) | (2.8) | (8.7) | Other (expense) income, net
Tax benefit | 1.2 | 0.7 | 2.5 | 
Net of tax | (3.6) | (2.1) | (6.2) | 
Net gains (losses) on cash flow hedging derivatives:(1) |  |  |  | 
Foreign currency forward contracts | 1.6 | 0.2 | 0.9 | Cost of sales
Interest rate and currency swaps | — | — | (3.4) | 
Treasury locks | 0.1 | 0.1 | 0.1 | Interest expense, net
Total pre-tax amount | 1.7 | 0.3 | (2.4) | 
Tax (expense) benefit | (0.6) | (0.1) | 0.8 | 
Net of tax | 1.1 | 0.2 | (1.6) | 
Total reclassifications for the period | (2.5 ) | (1.9 ) | (7.8 ) | 


Question: What is the total Prior service credits for the 3 years?
Answer: 1.7
Calculation: 0.1+0.3+1.3
Net revenues by location of shipment are classified by location of customer invoiced or reclassified by shipment destination in line with customer demand. For example, products ordered by U.S.-based companies to be invoiced to Asia Pacific affiliates are classified as Asia Pacific revenues.
By location of shipment, in 2019, revenues grew 6.8% in Americas, driven by Power Discrete, remained substantially flat in Asia and decreased 8.6% in EMEA, mainly due to lower sales of Microcontrollers and Power Discrete. In 2018 revenues grew across all regions, led by Asia Pacific and EMEA, mainly due to growth in Imaging and Automotive.
Table:
 | Year Ended December 31, | Year Ended December 31, | Year Ended December 31, | % Variation | % Variation
 | 2019 | 2018 | 2017 | 2019 vs 2018 | 2018 vs 2017
 | (In millions) | (In millions) | (In millions) |  | 
EMEA | $2,265 | $2,478 | $2,142 | (8.6)% | 15.7%
Americas | 1,351 | 1,264 | 1,085 | 6.8 | 16.5
Asia Pacific | 5,940 | 5,922 | 5,120 | 0.3 | 15.7
Total | $9,556 | $9,664 | $8,347 | (1.1)% | 15.8%


Question: In 2019, how much revenue grew in Americas?
Answer: 6.8%
Our common shares are not a direct investment of our pension funds; however, the pension funds may indirectly include our shares. The aggregate amount of our common shares would not be considered material relative to the total pension fund assets.
Our funding policy is to make contributions in accordance with the laws and customs of the various countries in which we operate as well as to make discretionary voluntary contributions from time to time. We expect to make the minimum required contributions of $42 million and $26 million to our non-U.S. and U.S. pension plans, respectively, in fiscal 2020. We may also make voluntary contributions at our discretion.
At fiscal year end 2019, benefit payments, which reflect future expected service, as appropriate, are expected to be
paid as follows:
Table:
 | Non-U.S. Plans | U.S. Plans
 |  | (in millions)
Fiscal 2020 | $  82 | $  77
Fiscal 2021 | 77 | 74
Fiscal 2022 | 81 | 74
Fiscal 2023 | 85 | 74
Fiscal 2024 | 86 | 74
Fiscal 2025-2029 | 490 | 361


Question: What is the change in Non-U.S. benefit payments expected to be paid in Fiscal 2023 from Fiscal 2022?
Answer: 4
Calculation: 85-81
CREDIT RISK
In many instances, trade receivables are written off directly to bad debt expense if the account has not been collected after a predetermined period of time.
The following table provides further details on trade receivables, net of allowance for doubtful accounts.
Table:
AT DECEMBER 31 | 2019 | 2018
Trade receivables not past due | 2,082 | 2,091
Trade receivables past due, net of allowance for doubtful accounts |  | 
Under 60 days | 541 | 508
60 to 120 days | 232 | 304
Over 120 days | 64 | 72
Trade receivables, net of allowance for doubtful accounts | 2,919 | 2,975


Question: When are trade receivables written off directly to bad debt expense?
Answer: if the account has not been collected after a predetermined period of time
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: What are the items under Total assets?
Answer: Cash, Restricted cash, Other current assets, Long-term capitalized contract costs, Long-term contracts financing receivable, Other noncurrent assets
notes to consolidated financial statements at december 31 , 2007 , future minimum rental payments required under operating leases for continuing operations that have initial or remaining noncancelable lease terms in excess of one year , net of sublease rental income , most of which pertain to real estate leases , are as follows : ( millions ) .

Table:
2008 | $ 317
2009 | 275
2010 | 236
2011 | 214
2012 | 191
later years | 597
total minimum payments required | $ 1830
aon corporation .

Question: what is the decrease observed in the future minimum rental payments during 2008 and 2009?
Answer: 42
Calculation: subtract(275, 317)
Earnings per share for the periods indicated were computed as follows (in thousands except per share amounts):
Our weighted average shares outstanding has decreased due to the repurchase of our outstanding common stock through a modified Dutch auction tender offer (the “Tender Offer”) and the stock repurchase program announced on October 29, 2018.
11.     Earnings Per Share
Table:
 | Year ended December 31, | 
 | 2019 | 2018
Numerators |  | 
Numerator for basic and diluted earnings per share: |  | 
Net income | $13,267 | $3,654
Denominators |  | 
Denominators for basic and diluted earnings per share: |  | 
Weighted average shares outstanding - basic | 17,424 | 20,721
Dilutive potential common shares |  | 
Stock options and awards | 1,101 | 296
Denominator for diluted earnings per share | 18,525 | 21,017
Net income per common share - basic | $0.76 | $0.18
Net income per common share – diluted | $0.72 | $0.17


Question: Why did the company's weighted average shares outstanding decrease?
Answer: due to the repurchase of our outstanding common stock through a modified Dutch auction tender offer (the “Tender Offer”) and the stock repurchase program announced on October 29, 2018.