hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
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: What were the reasons given for the change in accounts receivable and deferred revenue between March 2018 and March 2019 respectively?
Answer: increase in subscription software transactions that are recognized as revenue at the time of sale but paid for over time, increase in deferred customer support revenue related to software and products revenue transactions and customer support renewals during fiscal 2019.
23. Associates (Cont'd)
The summarised financial information of the Group’s significant associate namely Intouch Holdings Public Company Limited (“Intouch”), based on its financial statements and a reconciliation with the carrying amount of the investment in the consolidated financial statements was as follows –
Note: (1) Others include adjustments to align the respective local accounting standards to SFRS(I).
Table:
 | 2019 | 2018 | 2017
 | S$ Mil | S$ Mil | S$ Mil
Statement of comprehensive income |  |  | 
Revenue | 250.1 | 353.9 | 144.1
Profit after tax | 451.7 | 488.2 | 166.1
Other comprehensive (loss)/ income | (0.9) | 10.9 | (1.6)
Total comprehensive income | 450.8 | 499.1 | 164.5
Statement of financial position |  |  | 
Current assets | 743.1 | 720.0 | 701.9
Non-current assets | 1,532.5 | 1,554.3 | 1,629.3
Current liabilities | (305.1) | (444.4) | (483.6)
Non-current liabilities | (205.5) | (313.4) | (395.3)
Net assets | 1,765.0 | 1,516.5 | 1,452.3
Less: Non-controlling interests | (304.6) | (342.2) | (411.6)
Net assets attributable to equity holders | 1,460.4 | 1,174.3 | 1,040.7
Proportion of the Group’s ownership | 21.0% | 21.0% | 21.0%
Group’s share of net assets | 306.7 | 246.6 | 218.5
Goodwill and other identifiable intangible assets | 1,441.7 | 1,417.6 | 1,371.7
Others (1) | (46.8) | (23.0) | (8.4)
Carrying amount of the investment | 1,701.6 | 1,641.2 | 1,581.8
Other items |  |  | 
Group’s share of market value | 1,653.2 | 1,639.6 | 1,525.0
Dividends received during the year | 78.5 | 77.8 | -


Question: In which year was the total comprehensive income the highest?
Answer: 2018
Calculation: 499.1 > 450.8 > 164.5
Other Assets
Other assets consist of the following (in thousands):
The Company’s other assets includes a strategic equity investment in a privately-held company. The strategic investment is a non-marketable equity security, in which the Company does not have a controlling interest or the ability to exert significant influence. This investment does not have a readily determinable market value. The Company records this strategic investment at cost less impairment and adjusts cost for subsequent observable price changes. During the years ended July 31, 2019 and 2018, there were no changes in the investment’s carrying value of $10.7 million.
Table:
 | July 31, 2019  | July 31, 2018
Prepaid expenses | $2,640 | $2,476
Contract costs | 23,375 | —
Deferred costs | 8,867 | 9,377
Strategic investments | 10,672 | 10,672
Other assets | $45,554 | 22,525


Question: What was the average Contract costs for 2018 and 2019?
Answer: 11687.5
Calculation: (23,375 + 0) / 2
Intangible Assets
Internal software development costs of $2,526 and $12,666 were capitalized during the years ended December 31, 2019 and 2018, respectively, and are classified within software development costs as an intangible asset. Amortization expense related to the capitalized internally developed software was $7,464 and $3,832 for the years ended December 31, 2019 and 2018, respectively, and is included in cost of revenues, sales and marketing and general and administrative expenses in the accompanying Consolidated Statements of Operations and Comprehensive Loss.
Expressed in US $000's except share and per share amounts
Table:
 | December 31, 2018 |  | 
 | Cost | Accumulated amortization | Net book value
 | $ | $ | $
Acquired technology | 15,556 | 7,875 | 7,681
Software development costs | 24,963 | 9,226 | 15,737
Acquired customer relationships | 495 | 346 | 149
Purchased software | 6,973 | 4,503 | 2,470
Other intangible assets | 591 | 556 | 35
 | 48,578 | 22,506 | 26,072


Question: What is the cost of acquired technology as at December 31, 2018?
Answer: 15,556
NOTE 4 - ACCOUNTS PAYABLE AND ACCRUED EXPENSES
Accounts payable and accrued expenses consist of the following at:
On October 1 2019, the Company entered into an agreement with a consultant for toxicology studies. The consultant quoted a commitment of approximately $988,000 as an
estimate for the study. 50% of the total price is to be paid upon the signing of the agreement, 35% of the total price is to be upon completion of the in-life study, and the
remaining 15% of the total price is to be paid upon the issuance of the report. If the Company cancels the study the Company will be required to pay a cancelation fee. If the
cancelation happens prior to the arrival of the test animals then the Company will need to pay between 20% and 50% of the animal fees depending on when the cancellation
happens. If the cancellation occurs after the animals arrive but before the study begins then the company will be responsible for paying 50% of the protocol price plus a fee of
$7,000 per room/week for animal husbandry until the animals can be relocated or disposed of. If the Company cancels the study after it has begun then the Company will need to pay any fees for procured items for the study and any nonrecoverable expenses incurred by the vendor. As of December 31, 2019, the Company has paid $0 and there is a balance of $493,905 due.
Table:
 | December 31, 2019 | December 31, 2018
Accounting | $36,161 | $52,365
Research and development | 650,584 | 137,114
Legal | 15,273 | 32,161
Other | 163,029 | 10,048
Total | $865,047 | $231,688


Question: What is the value of accounting related accounts payable as a percentage of the 2019 total accounts payable and accrued expenses?
Answer: 4.18
Calculation: 36,161/865,047
Actuarial assumptions
The Group’s scheme liabilities are measured using the projected unit credit method using the principal actuarial assumptions set out below:
Notes: 1 Figures shown represent a weighted average assumption of the individual schemes.
2 The rate of increases in pensions in payment and deferred revaluation are dependent on the rate of inflation.
Table:
 | 2019 % | 2018 % | 2017 %
Weighted average actuarial assumptions used at 31 March1: |  |  | 
Rate of inflation2 | 2.9 | 2.9 | 3.0
Rate of increase in salaries | 2.7 | 2.7 | 2.6
Discount rate | 2.3 | 2.5 | 2.6


Question: How much is the 2018 rate of inflation?
Answer: 2.9
Estimated Future Benefit Payments
The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid. Pension benefits are currently paid from plan assets and other benefits are currently paid from corporate assets.
Table:
($ in millions) | Pension Benefits | Other Benefits
2020 | $83.0 | $14.7
2021 | $82.4 | $15.1
2022 | $82.6 | $15.1
2023 | $82.4 | $15.1
2024 | $81.8 | $15.1
2025-2029 | $395.5 | $73.1


Question: What was the change in the amount under other benefits in 2021 from 2020?
Answer: 0.4
Calculation: 15.1-14.7
Stock-Based Compensation
The Company recognizes stock-based compensation expense in the consolidated statements of operations, based on the department to which the related employee reports, as follows: The Company recognizes stock-based compensation expense in the consolidated statements of operations, based on the department to which the related employee reports, as follows:
The total unrecognized compensation cost related to performance-based restricted stock units as of December 31, 2019 was $3.6 million, and the weighted average period over which these equity awards are expected to vest is 1.6 years. The total unrecognized compensation cost related to unvested stock options as of December 31, 2019 was $2.0 million, and the weighted average period over which these equity awards are expected to vest is 2.30 years.
Table:
 |  | Years Ended December 31, | 
 | 2019 | 2018 | 2017
 |  | (in thousands) | 
Cost of net revenue | $577 | $489 | $332
Research and development | 16,545 | 17,953 | 16,190
Selling, general and administrative | 14,938 | 13,279 | 11,016
Restructuring expense | — | — | 5,130
 | $32,060 | $31,721 | $32,668


Question: In which year was Restructuring expense 0 thousands?
Answer: 2019, 2018
Calculation: locate and analyze Restructuring expense in row 7
10. Geographic information:
Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing the Company’s performance. The Company has one operating segment. Revenues are attributed to regions based on where the services are provided. Below are the Company’s service revenues and long lived assets by geographic region (in thousands):
Table:
Year Ended December 31, 2019 Revenues | On-net | Off-net | Non-core | Total
North America | $319,330 | $131,815 | $422 | $451,567
Europe | 72,320 | 16,323 | 53 | 88,696
Asia Pacific | 4,615 | 778 | — | 5,393
Latin America | 488 | 15 | — | 503
Total | $396,753 | $148,931 | $475 | $546,159
Year Ended December 31, 2018 Revenues | On-net | Off-net | Non-core | Total
North America | $299,021 | $128,510 | $572 | $428,103
Europe | 72,958 | 15,918 | 62 | 88,938
Asia Pacific | 2,562 | 576 | — | 3,138
Latin America | 14 | — | — | 14
Total | $374,555 | $145,004 | $634 | $520,193
Year Ended December 31, 2017 Revenues | On-net | Off-net | Non-core | Total
North America | $278,714 | $122,683 | $797 | $402,194
Europe | 66,588 | 14,867 | 41 | 81,496
Asia Pacific | 1,143 | 342 | — | 1,485
Total | $346,445 | $137,892 | $838 | $485,175


Question: What is the value revenue from the on-net segment from North America in 2019?
Answer: $319,330
Free Cash Flow
The following provides a reconciliation of free cash flow, as used in this annual report, to its most directly comparable U.S. GAAP financial measures:
Management believes that the free cash flow measure provides useful information to investors regarding our financial condition because it is a measure of cash generated which management evaluates for alternative uses. It is management’s current intention to use excess cash to fund investments in capital equipment, acquisition opportunities and consistent dividend payments. Free cash flow is not a U.S. GAAP financial measure and should not be considered in isolation of, or as a substitute for, cash flows calculated in accordance with U.S. GAAP.
Table:
 |  | Fiscal Year | 
($ in millions) | 2019 | 2018 | 2017
Net cash provided from operating activities | $232.4 | $209.2 | $130.3
Purchases of property, plant, equipment and software | (180.3) | (135.0) | (98.5)
Acquisition of businesses, net of cash acquired | (79.0) | (13.3) | (35.3)
Proceeds from divestiture of business | — | — | 12.0
Proceeds from disposals of property, plant and equipment and assets held for sale | 0.4 | 1.9 | 2.5
Proceeds from note receivable from sale of equity method investment | — | 6.3 | 6.3
Proceeds from insurance recovery | 11.4 | — | —
Dividends paid | (38.6) | (34.4) | (34.1)
Free cash flow | $(53.7) | $34.7 | $(16.8)


Question: In which year was the Proceeds from disposals of property, plant and equipment and assets held for sale largest?
Answer: 2017
Calculation: 2.5>1.9>0.4
6.3 Changes in group structure
Discontinued operations
On 21 December 2018, the Group executed a share sale agreement to sell Infochoice Pty Ltd, a wholly owned subsidiary.
At 30 June 2019, Infochoice Pty Ltd was classified as a discontinued operation. The business of Infochoice Pty Ltd represented the Group’s financial services and products comparison operating segment. With Infochoice Pty Ltd being classified as a discontinued operation, its operating results are no longer presented in the segment note. The sale of Infochoice Pty Ltd was completed on 18 February 2019. The results of Infochoice Pty Ltd for the period are presented below:
Table:
 | CONSOLIDATED | 
 | JUN 2019 $’000 | JUN 2018 $’000
Revenue | 426 | 1,208
Expenses | (1,035) | (989)
Operating income | (609) | 219
Interest revenue | 5 | 9
Impairment of other intangible assets | (603) | (16,902)
Profit/(loss) before tax from discontinued operations | (1,207) | (16,674)
Tax benefit/(expense) related to current pre-tax loss | (1,150) | (55)
Post-tax profit/(loss) of  discontinued operations | (2,357) | (16,729)


Question: When was  Infochoice Pty Ltd classified as a discontinued operation?
Answer: 30 June 2019
At the end of each reporting period, the Company evaluates all available information at that time to determine if it is more likely than not that some or all of these credits will be utilized. As of October 31, 2019, 2018, and 2017, the Company determined that a total of $1.8 million, $0.7 million, and $0.6 million, respectively, would be recovered. Accordingly, those amounts were released from the valuation allowance and benefited deferred tax expense in the respective periods.
The differences between the consolidated effective income tax rate and the federal statutory rate effective during the applicable year presented are as follows:
Table:
 |  | Years Ended October 31, | 
 | 2019 | 2018 | 2017
 |  | (In thousands)  | 
Income taxes at statutory rate | $13,408 | $ 7,132 | $148,585
Discrete benefit resulting from TCJA  | — | (37,505) | —
State income taxes | 1,189 | 1,014 | 9,038
State income tax credits  | (2,139) | (804) | (606)
Expiration of state income tax credits  | 4,121 | 4,117 | 642
Federal income tax credits  | (474) | (460) | (390)
Federal manufacturers deduction  | — | — | (11,527)
Excess tax benefits  | (1,388) | (1,638) | (3,345)
Nondeductible expenses | 1,786 | 1,890 | 3,506
Change in valuation allowance  | (5,380) | (5,297) | (1,106)
Other  | (570) | 677 | (12)
Income tax expense (benefit)  | $10,553 | $(30,874) | $144,785


Question: What is the average state income taxes for fiscal years 2019 and 2018?
Answer: 1101.5
Calculation: (1,189+1,014)/2
15. Trade and other payables
Trade and other payables mainly consist of amounts owed to suppliers that have been invoiced or are accrued and contract liabilities relating to consideration received from customers in advance. They also include taxes and social security amounts due in relation to the Group’s role as an employer. Derivative financial instruments with a negative market value are reported within this note.
Accounting policies
Trade payables are not interest-bearing and are stated at their nominal value.
Notes: 1 Previously described as deferred income in the year ended 31 March 2018
2 Items are measured at fair value and the valuation basis is level 2 classification, which comprises items where fair value is determined from inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly
3 Includes €823 million (2018: €nil) payable in relation to the irrevocable and non-discretionary share buyback programme announced in January 2019.
The carrying amounts of trade and other payables approximate their fair value.
Materially all of the €1,716 million recorded as current contract liabilities at 1 April 2018 was recognised as revenue during the year.
Other payables included within non-current liabilities include €288 million (2018: €271 million) in respect of the re-insurance of a third party annuity policy related to the Vodafone and CWW Sections of the Vodafone UK Group Pension Scheme.
The fair values of the derivative financial instruments are calculated by discounting the future cash flows to net present values using appropriate market interest rates and foreign currency rates prevailing at 31 March.
Table:
 | 2019 | 2018
 | €m | €m
Included within non-current liabilities: |  | 
Other payables | 327 | 314
Accruals | 113 | 159
Contract liabilities1 | 574 | 237
Derivative financial instruments2 | 1,924 | 2,133
 | 2,938 | 2,843
Included within current liabilities: |  | 
Trade payables | 6,541 | 6,185
Amounts owed to associates and joint ventures | 26 | 27
Other taxes and social security payable | 1,218 | 1,177
Other payables3 | 1,410 | 1,346
Accruals | 6,120 | 5,579
Contract liabilities1 | 1,818 | 1,678
Derivative financial instruments2 | 520 | 250
 | 17,653 | 16,242


Question: Between 2018 and 2019, which year had higher accruals included within non-current liabilities?
Answer: 2018
Calculation: 159>113
15 Goodwill and other intangible assets continued
Acquired intangibles
The disclosure by class of acquired intangible assets is shown in the tables below.
2019
Customer relationships are amortised over their useful economic lives in line with the accounting policies disclosed in Note 1. Within this balance individually material balances relate to Thermocoax £32.6m. The remaining amortisation period is 14.3 years.
Brand names and trademark assets are amortised over their useful economic lives in line with the accounting policies disclosed in Note 1. Within this balance individually material balances relate to Chromalox £114.1m (2018: £125.4m), Gestra £28.4m (2018: £32.5m) and Thermocoax £13.6m. The remaining amortisation periods are 17.5 years, 12.3 years and 19.3 years respectively.
Manufacturing designs and core technology are amortised over their useful economic lives in line with the accounting policies disclosed in Note 1. Within this balance individually material balances relate to Chromalox £12.9m (2018: £15.1m), Gestra £10.8m (2018: £12.3m) and Aflex £8.5m (2018: £9.4m). The remaining amortisation period is 12.5 years for Chromalox, 12.3 years for Gestra and 10 years for Aflex.
Non-compete undertakings are amortised over their useful economic lives in line with the accounting policies disclosed in Note 1. There are no individually material items within this balance.
Table:
 | Customer relationships | Brand names and trademarks | Manufacturing designs and core technology | Non-compete undertakings and other | Total acquired intangibles
 | £m | £m | £m | £m | £m
Cost: |  |  |  |  | 
At 1st January 2019 | 57.1 | 187.3 | 56.0 | 20.2 | 320.6
Exchange and other adjustments | (3.0) | (7.8) | (2.2) | (0.9) | (13.9)
 | 54.1 | 179.5 | 53.8 | 19.3 | 306.7
Acquisitions | 34.9 | 14.3 | 7.2 | 3.8 | 60.2
At 31st December 2019 | 89.0 | 193.8 | 61.0 | 23.1 | 366.9
Amortisation and impairment: |  |  |  |  | 
At 1st January 2019 | 25.1 | 21.3 | 14.2 | 15.6 | 76.2
Exchange adjustments | (1.3) | (1.1) | (0.6) | (0.8) | (3.8)
 | 23.8 | 20.2 | 13.6 | 14.8 | 72.4
Amortisation and impairment | 7.1 | 10.4 | 5.6 | 3.7 | 26.8
At 31st December 2019 | 30.9 | 30.6 | 19.2 | 18.5 | 99.2
Net book value: |  |  |  |  | 
At 31st December 2019 | 58.1 | 163.2 | 41.8 | 4.6 | 267.7


Question: What do the individually material balances within the balance of brand names and trademark assets after amortisation relate to?
Answer: Chromalox, Gestra, Thermocoax
Free Cash Flow
Free cash flow is a non-GAAP financial measure that reflects an additional way of viewing our liquidity that, when viewed with our GAAP results, provides a more complete understanding of factors and trends affecting our cash flows. Free cash flow is calculated by subtracting capital expenditures from net cash provided by operating activities. We believe it is a more conservative measure of cash flow since purchases of fixed assets are necessary for ongoing operations.
Free cash flow has limitations due to the fact that it does not represent the residual cash flow available for discretionary expenditures. For example, free cash flow does not incorporate payments made on finance lease obligations or cash payments for business acquisitions or wireless licenses. Therefore, we believe it is important to view free cash flow as a complement to our entire consolidated statements of cash flows.
The following table reconciles net cash provided by operating activities to Free cash flow:
The increase in free cash flow during 2019 is a reflection of the increase in operating cash flows, partially offset by the increase in capital expenditures discussed above.
Table:
 |  | (dollars in millions)
Years Ended December 31, | 2019 | 2018
Net cash provided by operating activities | $ 35,746 | $ 34,339
Less Capital expenditures (including capitalized software) | 17,939 | 16,658
Free cash flow | $ 17,807 | $ 17,681


Question: What was the change in the net cash provided by operating activities from 2018 to 2019?
Answer: 1407
Calculation: 35,746 - 34,339
11. INTEREST EXPENSES
Interest expenses consist of interest expense on the long-term debt, the commitment fee and amortization of deferred financing costs related to the Credit Facility described in Note 9.
For the years ended December 31, 2019, 2018 and 2017, $0.0 million, $2.6 million and $2.5 million of interest expenses were capitalized, respectively.
Table:
All amounts in USD ‘000  | 2019 | 2018 | 2017
Interest Expenses, net of capitalized interest   | 34,018 | 29,753 | 18,286
Commitment Fee   | - | 3,325 | 760
Amortization of Deferred Financing Costs   | 4,372 | 1,470 | 1,393
Other financial costs   | - | 1 | 25
Total Interest Expenses   | 38,390 | 34,549 | 20,464


Question: What is the percentage change in the interest expense, net of capitalised interest between 2017 and 2018?
Answer: 62.71
Calculation: (29,753 - 18,286)/18,286