hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
Postretirement Benefit Plans
In addition to receiving pension benefits, U.S. Teradyne employees who meet early retirement eligibility requirements as of their termination dates may participate in Teradyne’s Welfare Plan, which includes medical and dental benefits up to age 65. Death benefits provide a fixed sum to retirees’ survivors and are available to all retirees. Substantially all of Teradyne’s current U.S. employees could become eligible for these benefits, and the existing benefit obligation relates primarily to those employees.
The December 31 balances of the postretirement assets and obligations are shown below:
Table:
 | 2019 | 2018
 | (in thousands) | 
Assets and Obligations |  | 
Change in benefit obligation: |  | 
Projected benefit obligation: |  | 
Beginning of year | $9,256 | $6,177
Service cost | 41 | 39
Interest cost | 347 | 196
Actuarial loss | 717 | 25
Benefits paid | (1,358) | (889)
Special termination benefits | — | 3,708
End of year | 9,003 | 9,256
Change in plan assets: |  | 
Fair value of plan assets: |  | 
Beginning of year | — | —
Company contributions | 1,358 | 889
Benefits paid | (1,358) | (889)
End of year | — | —
Funded status | $(9,003) | $(9,256)


Question: What was the change in Service Cost from 2018 to 2019?
Answer: 2
Calculation: 41-39
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 is the percentage change in the voyage expenses between 2018 and 2019?
Answer: -14.09
Calculation: (141,770 - 165,012)/165,012
five-year performance comparison 2013 the following graph provides an indicator of cumulative total shareholder returns for the corporation as compared to the peer group index ( described above ) , the dj trans , and the s&p 500 . the graph assumes that $ 100 was invested in the common stock of union pacific corporation and each index on december 31 , 2010 and that all dividends were reinvested . the information below is historical in nature and is not necessarily indicative of future performance . purchases of equity securities 2013 during 2015 , we repurchased 36921641 shares of our common stock at an average price of $ 99.16 . the following table presents common stock repurchases during each month for the fourth quarter of 2015 : period total number of shares purchased [a] average price paid per share total number of shares purchased as part of a publicly announced plan or program [b] maximum number of shares remaining under the plan or program [b] .

Table:
period | total number of shares purchased [a] | average price paid per share | total number of shares purchased as part of a publicly announcedplan or program [b] | maximum number of shares remaining under the plan or program [b]
oct . 1 through oct . 31 | 3247731 | $ 92.98 | 3221153 | 56078192
nov . 1 through nov . 30 | 2325865 | 86.61 | 2322992 | 53755200
dec . 1 through dec . 31 | 1105389 | 77.63 | 1102754 | 52652446
total | 6678985 | $ 88.22 | 6646899 | n/a
[a] total number of shares purchased during the quarter includes approximately 32086 shares delivered or attested to upc by employees to pay stock option exercise prices , satisfy excess tax withholding obligations for stock option exercises or vesting of retention units , and pay withholding obligations for vesting of retention shares .
[b] effective january 1 , 2014 , our board of directors authorized the repurchase of up to 120 million shares of our common stock by december 31 , 2017 .
these repurchases may be made on the open market or through other transactions .
our management has sole discretion with respect to determining the timing and amount of these transactions. .

Question: what percentage of total shares purchased were purchased in november?
Answer: 35%
Calculation: divide(2325865, 6678985)
Share-Based Compensation Expense
The following table sets forth the total share-based compensation expense included in our consolidated statements of operations (amounts in millions):
Table:
 |  | For the Years Ended December 31, | 
 | 2019 | 2018 | 2017
Cost of revenues—product sales: Software royalties, amortization, and intellectual property licenses | $19 | $13 | $10
Cost of revenues—subscription, licensing, and other revenues: Game Operations and Distribution Costs | 1 | 2 | 1
Cost of revenues—subscription, licensing, and other revenues: Software royalties, amortization, and intellectual property licenses | 1 | 3 | 3
Product development | 53 | 61 | 57
Sales and marketing | 10 | 15 | 15
General and administrative | 82 | 115 | 92
Share-based compensation expense before income taxes | 166 | 209 | 178
Income tax benefit | (29) | (46) | (34)
Total share-based compensation expense, net of income tax benefit | $137 | $163 | $144


Question: What was the percentage change in General and administrative expenses between 2017 and 2018?
Answer: 25
Calculation: (115-92)/92
The total compensation of the Executive Board members for each of the years 2019, 2018, and 2017 was as follows:
Executive Board Compensation
1) Portion of total executive compensation allocated to the respective year
Table:
€ thousands | 2019 | 2018 | 2017
Short-term employee benefits | 17,378 | 18,652 | 16,634
Share-based payment1) | 32,393 | 23,646 | 25,723
Subtotal1) | 49,771 | 42,298 | 42,357
Post-employment benefits | 2,825 | 1,106 | 1,312
Thereof defined-benefit | 2,056 | 250 | 423
Thereof defined-contribution | 769 | 856 | 889
Total1) | 52,596 | 43,404 | 43,669


Question: In which year was the amount Thereof defined-contribution largest?
Answer: 2017
Calculation: 889>856>769
Liquidity risk
Liquidity risk is managed to enable the Group to meet future payment obligations when financial liabilities fall due. Liquidity analysis is conducted to determine that sufficient headroom is available to meet the Group’s operational requirements and committed investments. The Group treasury policy aims to meet this objective by maintaining adequate cash, marketable securities and committed facilities. Undrawn borrowing facilities are detailed in note 23. The Group’s policy is to seek to optimise its exposure to liquidity risk by balancing its exposure to interest rate risk and to refinancing risk. In effect the Group seeks to borrow for as long as possible at the lowest acceptable cost.
Group policy is to maintain a weighted average debt maturity of over five years. At 31 December 2019, the maturity profile of Group debt showed an average maturity of five years (2018: six years). The Group regularly reviews the maturity profile of its borrowings and seeks to avoid concentration of maturities through the regular replacement of facilities and by arranging a selection of maturity dates. Refinancing risk may be reduced by doing so prior to the contracted maturity date. The change in valuation of an asset used as security for a debt facility may impact the Group’s ability to refinance that debt facility at the same quantum as currently outstanding.
The Group does not use supplier financing arrangements to manage liquidity risk.
The tables below set out the maturity analysis of the Group’s financial liabilities based on the undiscounted contractual obligations to make payments of interest and to repay principal. Where interest payment obligations are based on a floating rate, the rates used are those implied by the par yield curve for the relevant currency. Where payment obligations are in foreign currencies, the spot exchange rate at the balance sheet date is used.
Table:
 |  |  |  |  | 2019
£m | Within 1 year | 1–2 years | 2–5 years | Over 5 years | Total
Borrowings (including interest) | (249.5) | (1,091.3) | (2,600.9) | (1,716.1) | (5,657.8)
Finance lease obligations | (5.3) | (5.3) | (14.3) | (104.8) | (129.7)
Other financial liabilities | (15.4) | – | – | (1.2) | (16.6)
Net derivative payments | (34.3) | (28.8) | (78.4) | (222.9) | (364.4)
 | (304.5) | (1,125.4) | (2,693.6) | (2,045.0) | (6,168.5)
 |  |  |  |  | 
 |  |  |  |  | 2018
£m | Within 1 year | 1–2 years | 2–5 years | Over 5 years | Total
Borrowings (including interest) | (237.8) | (245.2) | (3,259.1) | (2,408.0) | (6,150.1)
Finance lease obligations | (4.4) | (4.4) | (13.4) | (104.8) | (127.0)
Other financial liabilities | (6.1) | (1.2) | – | – | (7.3)
Net derivative payments | (37.2) | (33.5) | (74.0) | (248.2) | (392.9)
 | (285.5) | (284.3) | (3,346.5) | (2,761.0) | (6,677.3)
 |  |  |  |  | 


Question: Why is liquidity analysis conducted?
Answer: to determine that sufficient headroom is available to meet the Group’s operational requirements and committed investments.
16. PRODUCT WARRANTIES
We establish a product warranty liability at the time of revenue recognition. Product warranties generally have terms of 12 months and cover nonconformance with specifications and defects in material or workmanship. For sales to distributors, our warranty generally begins when the product is resold by the distributor. The liability is based on estimated costs to fulfill customer product warranty obligations and utilizes historical product failure rates. Should actual warranty obligations differ from estimates, revisions to the warranty liability may be required.
Product warranty liability activity is as follows (in thousands):
Table:
 |  | Fiscal Years   | 
 | 2019 | 2018 | 2017
Balance — beginning of year | $5,756 | $3,672 | $1,039
(Divested)/acquired | — | (49) | 952
Provisions/(expense) | (3,053) | 1,865 | 1,737
Direct charges/(payments) | 570 | 268 | (56)
Balance — end of year | $3,273 | $5,756 | $3,672


Question: What was the change in the Provisions/(expense) from 2017 to 2018?
Answer: 128
Calculation: 1,865 - 1,737
NET DEBT
The term net debt does not have any standardized meaning under IFRS. Therefore, it is unlikely to be comparable to similar measures presented by other issuers.
We define net debt as debt due within one year plus long-term debt and 50% of preferred shares, less cash and cash equivalents, as shown in BCE’s consolidated statements of financial position. We include 50% of outstanding preferred shares in our net debt as it is consistent with the treatment by certain credit rating agencies.
We consider net debt to be an important indicator of the company’s financial leverage because it represents the amount of debt that is not covered by available cash and cash equivalents. We believe that certain investors and analysts use net debt to determine a company’s financial leverage.
Net debt has no directly comparable IFRS financial measure, but rather is calculated using several asset and liability categories from the statements of financial position, as shown in the following table.
Table:
 | 2019 | 2018
Debt due within one year | 3,881 | 4,645
Long-term debt | 22,415 | 19,760
50% of outstanding preferred shares | 2,002 | 2,002
Cash and cash equivalents | (145) | (425)
Net debt | 28,153 | 25,982


Question: What is the change in net debt in 2019?
Answer: 2171
Calculation: 28,153-25,982
4. Profit before tax
The following items have been charged in arriving at profit before tax:
Table:
 |  | 2019 | 2018
 | Notes | $ million | $ million
Employee benefit costs | 8 | 220.5 | 208.9
Costs of inventories recognised as an expense |  | 81.6 | 79.8
Write-down of inventories to net realisable value | 19 | 1.6 | 0.1
Amortisation of intangible assets | 13 | 2.1 | 4.3
Depreciation of property, plant and equipment | 14 | 14.7 | 16.5
Depreciation of right-of-use assets | 15 | 7.5 | –
Amortisation of assets recognised from costs to obtain a contract | 21 | 0.5 | 0.6
Operating leases – minimum lease payments |  | – | 8.5
Expenses relating to short-term leases and leases of low-value assets | 26 | 0.3 | –
Product development costs |  | 96.5 | 96.9
Net foreign exchange loss |  | 0.6 | 0.6


Question: What was the change in employee benefit costs?
Answer: 11.6
Calculation: 220.5-208.9
FY19 EAIP Payout Results:
(1) Calculated in FY19 plan exchange rates and excludes stock-based compensation expense, charges related to the amortization of intangible assets, restructuring, separation, transition and other related expenses, contract liabilities fair value adjustment, acquisition-related costs and certain litigation settlement gains.
(2) Calculated in FY19 plan exchange rates and excludes contract liabilities fair value adjustment.
Table:
Weighted Average Company Performance Funding |  |  |  |  | 
Company Performance Metric | Target ($) (millions) | Threshold ($)(millions) | Actual ($) (millions) | Threshold Funding (%) | Funding (%)
Non-GAAP Operating Income | 1,630 | 1,428 | 1,427(1) | 40 | 0.0
Non-GAAP Revenue | 4,943 | 4,760 | 4,804(2) | 40 | 71.2
FY19 Funding | . | . | . | . | 35.6


Question: What is the FY19 Funding?
Answer: 35.6
NOTE 3 – STAFF COSTS
Employee information
The majority of the staff on vessels are not employed by TORM. Staff costs included in operating expenses relate to the 108 seafarers (2018: 112, 2017: 131).
The average number of employees is calculated as a full-time equivalent (FTE).
The Executive Director is, in the event of termination by the Company, entitled to a severance payment of up to 12 months' salary.
Table:
USDm | 2019 | 2018 | 2017
Total staff costs |  |  | 
Staff costs included in operating expenses | 8.1 | 9.3 | 9.2
Staff costs included in administrative expenses | 37.7 | 36.9 | 34.6
Total | 45.8 | 46.2 | 43.8
Staff costs comprise the following |  |  | 
Wages and salaries | 37.2 | 38.1 | 36.4
Share-based compensation | 1.9 | 2.1 | 1.9
Pension costs | 3.5 | 3.3 | 3.1
Other social security costs | 0.9 | 0.6 | 0.3
Other staff costs | 2.3 | 2.1 | 2.1
Total | 45.8 | 46.2 | 43.8
Average number of permanent employees |  |  | 
Seafarers | 107.6 | 111.7 | 130.6
Land-based | 313.5 | 302.2 | 286.6
Total | 421.1 | 413.9 | 417.2


Question: What was the percentage change in the total number of permanent employees from 2018 to 2019?
Answer: 1.74
Calculation: (421.1-413.9)/413.9
Segment Results
General
Reconciliation of segment revenue to total operating revenue is below:
(1) On May 1, 2017 we sold a portion of our data centers and colocation business. See Note 3—Sale of Data Centers and Colocation Business to our consolidated financial statements in Item 8 of Part II of this report, for additional information.
Table:
 |  | Year Ended December 31, | 
 | 2019 | 2018 | 2017
 |  | (Dollars in millions) | 
Operating revenue |  |  | 
International and Global Accounts | $3,596 | 3,653 | 1,382
Enterprise | 6,133 | 6,133 | 4,186
Small and Medium Business | 2,956 | 3,144 | 2,418
Wholesale | 4,074 | 4,397 | 3,026
Consumer | 5,642 | 6,116 | 6,451
Total segment revenue | $22,401 | 23,443 | 17,463
Operations and Other(1) | — | — | 193
Total operating revenue | $22,401 | 23,443 | 17,656


Question: What portion of business under Operations and Other was sold?
Answer: data centers and colocation business
Other non-current assets
Other non-current assets consisted of the following:
* As adjusted to reflect the impact of the full retrospective adoption of IFRS 15. See Note 2 for further details.
As of June 30, 2019 and 2018, the Group had certificates of deposit and time deposits totaling $3.7 million and $3.7 million which were classified as long-term and were included in security deposits. Included in the Group’s other non-current assets balance as of June 30, 2019 and 2018 were $7.1 million and $6.6 million respectively, of restricted cash used for commitments of standby letters of credit related to facility leases and were not available for the Group’s use in its operations.
Table:
 | As of June 30, | 
 | 2019 | 2018
 | (U.S. $ in thousands) | 
 |  | *As Adjusted
Marketable equity securities | $58,932 | $—
Non-marketable equity securities | 3,000 | —
Security deposits | 5,010 | 5,248
Other | 9,703 | 8,218
 | $76,645 | $13,466


Question: What is the percentage difference of security deposits between fiscal years 2018 and 2019?
Answer: -4.54
Calculation: (5,010-5,248)/5,248
The following table shows select line items that were materially impacted by the adoption of ASC Topics 606 and 340-40 on Autodesk’s Consolidated Balance Sheet as of January 31, 2019:
(1) Short term and long term "contract assets" under ASC Topic 606 are included within "Prepaid expenses and other current assets" and "Other assets", respectively, on the Consolidated Balance Sheet
(2) Included in the "Accumulated deficit" adjustment is $179.4 million for the cumulative effect adjustment of adopting ASC Topic 606 and 340-40 on the opening balance as of February 1, 2018.
Adoption of the standard had no impact to net cash provided by or (used in) operating, financing, or investing activities on the Company’s Consolidated Statements of Cash Flows
Table:
 | As reported | Impact from the adoption of ASC 606 and 340-40 | As adjusted
ASSETS |  |  | 
Current assets: |  |  | 
Accounts receivable, net | $474.3 | $73.4 | $547.7
Prepaid expenses and other current assets (1) | 192.1 | (79.4) | 112.7
Deferred income taxes, net | 65.3 | 7.0 | 72.3
Other assets (1) | 337.8 | (17.9) | 319.9
LIABILITIES AND STOCKHOLDERS’ DEFICIT |  |  | 
Current liabilities: |  |  | 
Deferred revenue | 1,763.3 | 140.6 | 1,903.9
Other accrued liabilities | 142.3 | 1.7 | 144.0
Long-term deferred revenue | 328.1 | 37.2 | 365.3
Long-term income taxes payable | 21.5 | (0.2) | 21.3
Long-term deferred income taxes | 79.8 | (6.7) | 73.1
Stockholders’ deficit: |  |  | 
Accumulated deficit (2) | $(2,147.4) | $(189.5) | $(2,336.9)


Question: How much did the deferred revenue change due to the adoption of ASC 606 and 340-40?
Answer: 7.97
Calculation: 140.6/1,763.3
FREE CASH FLOW AND DIVIDEND PAYOUT RATIO
The terms free cash flow and dividend payout ratio do not have any standardized meaning under IFRS. Therefore, they are unlikely to be comparable to similar measures presented by other issuers.
We define free cash flow as cash flows from operating activities, excluding acquisition and other costs paid (which include significant litigation costs) and voluntary pension funding, less capital expenditures, preferred share dividends and dividends paid by subsidiaries to NCI. We exclude acquisition and other costs paid and voluntary pension funding because they affect the comparability of our financial results and could potentially distort the analysis of trends in business performance. Excluding these items does not imply they are non-recurring.
We consider free cash flow to be an important indicator of the financial strength and performance of our businesses because it shows how much cash is available to pay dividends on common shares, repay debt and reinvest in our company. We believe that certain investors and analysts use free cash flow to value a business and its underlying assets and to evaluate the financial strength and performance of our businesses. The most comparable IFRS financial measure is cash flows from operating activities.
We define dividend payout ratio as dividends paid on common shares divided by free cash flow. We consider dividend payout ratio to be an important indicator of the financial strength and performance of our businesses because it shows the sustainability of the company’s dividend payments.
The following table is a reconciliation of cash flows from operating activities to free cash flow on a consolidated basis.
Table:
 | 2019 | 2018
Cash flows from operating activities | 7,958 | 7,384
Capital expenditures | (3,988) | (3,971)
Cash dividends paid on preferred shares | (147) | (149)
Cash dividends paid by subsidiaries to NCI | (65) | (16)
Acquisition and other costs paid | 60 | 79
Voluntary DB pension plan contribution | – | 240
Free cash flow | 3,818 | 3,567


Question: How is free cash flow defined?
Answer: cash flows from operating activities, excluding acquisition and other costs paid (which include significant litigation costs) and voluntary pension funding, less capital expenditures, preferred share dividends and dividends paid by subsidiaries to NCI
The Systems gross profit margin decrease year to year was driven by the mix away from IBM Z and margin declines in Power Systems and Storage Systems.
The pre-tax income decline was driven by the strong performance in IBM Z in the prior year and the continued investment in innovation across the Systems portfolio.
Table:
($ in millions) |  |  | 
For the year ended December 31: | 2018 | 2017 | Yr.-to-Yr. Percent/ Margin Change
Systems |  |  | 
External Systems Hardware gross profit | $2,590 | $2,893 | (10.5)%
External Systems Hardware gross profit margin | 40.7% | 44.6% | (3.8)pts
External Operating Systems Software gross profit | $1,412 | $1,469 | (3.9)%
External Operating Systems Software gross profit margin | 84.5% | 86.4% | (1.9)pts.
External total gross profit | $4,002 | $4,362 | (8.2)%
External total gross profit margin | 49.8% | 53.2% | (3.4)pts.
Pre-tax income | $ 904 | $1,128 | (19.9)%
Pre-tax margin | 10.2% | 12.6% | (2.4)pts.


Question: What is the increase/ (decrease) in Pre-tax margin from 2017 to 2018
Answer: -2.4
Calculation: 10.2-12.6
Auditor Service Fees
The aggregate amounts paid or accrued by the Company with respect to fees payable to PricewaterhouseCoopers LLP, the auditors of the Company, for audit (including separate audits of wholly-owned and non-wholly owned entities, financings, regulatory reporting requirements and SOX related services), audit-related, tax and other services in the years ended December 31, 2019 and 2018 were as follows:
Audit fees relate to the audit of our annual consolidated financial statements, the review of our quarterly condensed consolidated financial statements and services in connection with our 2019 and 2018 public offerings of Class A subordinate voting shares
Audit-related fees consist of aggregate fees for accounting consultations and other services that were reasonably related to the performance of audits or reviews of our consolidated financial statements and were not reported above under "Audit Fees".
Tax fees relate to assistance with tax compliance, expatriate tax return preparation, tax planning and various tax advisory services.
Other fees are any additional amounts for products and services provided by the principal accountants other than the services reported above under "Audit Fees", "Audit-Related Fees" and "Tax Fees".
Table:
 | Fiscal 2019 | Fiscal 2018
 | $ | $
 | (in thousands) | 
Audit Fees | 1,133 | 764
Audit-Related Fees | — | —
Tax Fees | — | —
All Other Fees | 3 | 2
Total | 1,136 | 766


Question: Between fiscal 2018 and 2019, which year had higher audit fees?
Answer: 2019
Calculation: 1,133>764