hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
NOTE 21 — QUARTERLY INFORMATION (UNAUDITED)
(a) Reflects the $157 million net charge related to the enactment of the TCJA for the second quarter and the $2.6 billion net income tax benefit related to the intangible property transfers for the fourth quarter, which together increased net income by $2.4 billion for fiscal year 2019. See Note 12 – Income Taxes for further information.
(b) Reflects the net charge related to the enactment of the TCJA and the net income tax benefit related to the intangible property transfers, which decreased (increased) diluted EPS $0.02 for the second quarter, $(0.34) for the fourth quarter, and $(0.31) for fiscal year 2019.
(c) Reflects the net charge (benefit) related to the enactment of the TCJA of $13.8 billion for the second quarter, $(104) million for the fourth quarter, and $13.7 billion for fiscal year 2018.
(d) Reflects the net charge (benefit) related to the enactment of the TCJA, which decreased (increased) diluted EPS $1.78 for the second quarter, $(0.01) for the fourth quarter, and $1.75 for fiscal year 2018.
Table:
(In millions, except per share amounts) |  |  |  |  | 
Quarter Ended | September 30 | December 31 | March 31 | June 30 | Total
Fiscal Year 2019 |  |  |  |  | 
Revenue | $  29,084 | $  32,471 | $  30,571 | $  33,717 | $  125,843
Gross margin | 19,179 | 20,048 | 20,401 | 23,305 | 82,933
Operating income | 9,955 | 10,258 | 10,341 | 12,405 | 42,959
Net income (a) | 8,824 | 8,420 | 8,809 | 13,187 | 39,240
Basic earnings per share | 1.15 | 1.09 | 1.15 | 1.72 | 5.11
Diluted earnings per share (b) | 1.14 | 1.08 | 1.14 | 1.71 | 5.06
Fiscal Year 2018 |  |  |  |  | 
Revenue | $  24,538 | $ 28,918 | $ 26,819 | $ 30,085 | $ 110,360
Gross margin | 16,260 | 17,854 | 17,550 | 20,343 | 72,007
Operating income | 7,708 | 8,679 | 8,292 | 10,379 | 35,058
Net income (loss) (c) | 6,576 | (6,302) | 7,424 | 8,873 | 16,571
Basic earnings (loss) per share | 0.85 | (0.82) | 0.96 | 1.15 | 2.15
Diluted earnings (loss) per share (d) | 0.84 | (0.82) | 0.95 | 1.14 | 2.13


Question: What does Note 21 cover?
Answer: QUARTERLY INFORMATION (UNAUDITED)
jpmorgan chase & co./2017 annual report 39 five-year stock performance the following table and graph compare the five-year cumulative total return for jpmorgan chase & co . ( 201cjpmorgan chase 201d or the 201cfirm 201d ) common stock with the cumulative return of the s&p 500 index , the kbw bank index and the s&p financial index . the s&p 500 index is a commonly referenced equity benchmark in the united states of america ( 201cu.s . 201d ) , consisting of leading companies from different economic sectors . the kbw bank index seeks to reflect the performance of banks and thrifts that are publicly traded in the u.s . and is composed of leading national money center and regional banks and thrifts . the s&p financial index is an index of financial companies , all of which are components of the s&p 500 . the firm is a component of all three industry indices . the following table and graph assume simultaneous investments of $ 100 on december 31 , 2012 , in jpmorgan chase common stock and in each of the above indices . the comparison assumes that all dividends are reinvested . december 31 , ( in dollars ) 2012 2013 2014 2015 2016 2017 .

Table:
december 31 ( in dollars ) | 2012 | 2013 | 2014 | 2015 | 2016 | 2017
jpmorgan chase | $ 100.00 | $ 136.71 | $ 150.22 | $ 162.79 | $ 219.06 | $ 277.62
kbw bank index | 100.00 | 137.76 | 150.66 | 151.39 | 194.55 | 230.72
s&p financial index | 100.00 | 135.59 | 156.17 | 153.72 | 188.69 | 230.47
s&p 500 index | 100.00 | 132.37 | 150.48 | 152.55 | 170.78 | 208.05
december 31 , ( in dollars ) 201720162015201420132012 .

Question: did jpmorgan chase outperform the kbw bank index?
Answer: yes
Calculation: greater(277.62, 230.72)
Subsequent to the year end, we have received the final ratifications required for full planning to become effective and therefore we expect the positive impact on retained earnings to reverse once these arrangements are formally concluded. In this event EPRA NAV per share would have been 143 pence.
Debt measures
A Debt to asset ratio
Our debt to assets ratio increased to 67.8 per cent in 2019 due to the property revaluation deficit in the year. This reduces to 65.3 per cent when adjusted for expected disposal proceeds from intu Puerto Venecia and intu Asturias.
B Interest cover
Interest cover of 1.67x remains above our target minimum level of 1.60x although it has reduced in 2019 as a result of the reduction in net rental income.
C Immediately available cash and facilities
Immediately available cash and facilities has reduced in the year by £5.3 million to £241.5 million at 31 December 2019. This excludes the rents collected at the end of December 2019 which relate to the first quarter of 2020 and remain in the debt structures until interest payments are made. At 10 March 2020, immediately available cash and facilities is £200.3 million, which will be augmented by the intu Puerto Venecia sales proceeds expected to be received in early April.
Table:
 | Notes | 2019 | 2018 | Change
Debt to assets ratio | A | 67.8% | 53.1% | 14.7%
Interest cover | B | 1.67x | 1.91x | –0.24x
Weighted average debt maturity |  | 5.0 years | 5.8 years | –0.8 years
Weighted average cost of gross debt (excluding RCF) |  | 4.3% | 4.2% | –0.1%
Proportion of gross debt with interest rate protection |  | 88% | 84% | 4%
Immediately available cash and facilities | C | £241.5m | £246.8m | £(5.3)m


Question: What is the percentage change in the immediately available cash and facilities from 2018 to 2019?
Answer: -2.15
Calculation: (5.3)/246.8
In 2019, Global Financing delivered external revenue of $1,400 million and total revenue of $2,632 million, with a decrease in gross margin of 2.7 points to 58.8 percent. Total pre-tax income of $1,055 million decreased 22.5 percent compared to 2018 and return on equity decreased 5.0 points to 25.8 percent.
Global Financing total revenue decreased 17.8 percent compared to the prior year. This was due to a decrease in internal revenue of 23.5 percent, driven by decreases in internal used equipment sales (down 27.4 percent to $862 million) and internal financing (down 12.6 percent to $370 million). External revenue declined 11.9 percent due to decreases in external financing (down 8.5 percent to $1,120 million) and external used equipment sales (down 23.4 percent to $281 million).
The decrease in internal financing revenue was due to lower average asset balances, partially offset by higher asset yields. The decrease in external financing revenue reflects the wind down of the OEM IT commercial financing operations.
Sales of used equipment represented 43.4 percent and 48.5 percent of Global Financing’s revenue for the years ended December 31, 2019 and 2018, respectively. The decrease in 2019 was due to a lower volume of internal used equipment sales. The gross profit margin on used sales was 52.2 percent and 54.2 percent for the years ended December 31, 2019 and 2018, respectively. The decrease in the gross profit margin was driven by lower margins on internal used equipment sales.
Global Financing pre-tax income decreased 22.5 percent year to year primarily driven by a decrease in gross profit ($422 million), partially offset by a decrease in total expense ($115 million), which was mainly driven by a decline in IBM shared expenses in line with the segment’s performance, a lower provision for credit losses and a gain from the sale of certain commercial financing capabilities in the first quarter of 2019.
The decrease in return on equity from 2018 to 2019 was primarily due to lower net income. Refer to page 45 for the details of the after-tax income and return on equity calculations.
Table:
($ in millions) |  |  | 
For the year ended December 31: | 2019 | 2018 | Yr.-to-Yr. Percent Change
External revenue | $1,400 | $1,590 | (11.9) %
Internal revenue | 1,232 | 1,610 | (23.5)
Total revenue | $2,632 | $3,200 | (17.8) %
Pre-tax income | $1,055 | $1,361 | (22.5) %


Question: What caused the sales of used equipment to decrease?
Answer: The decrease in 2019 was due to a lower volume of internal used equipment sales.
Summary of Results
The following table sets forth, for the periods indicated, certain key operating results and other financial information (in thousands, except per share data):
Table:
 |  | Fiscal Year Ended August 31, | 
 | 2019 | 2018 | 2017
Net revenue | $25,282,320 | $22,095,416 | $19,063,121
Gross profit | $1,913,401 | $1,706,792 | $1,545,643
Operating income | $701,356 | $542,153 | $410,230
Net income attributable to Jabil Inc | $287,111 | $86,330 | $129,090
Earnings per share – basic | $1.85 | $0.50 | $0.71
Earnings per share – diluted | $1.81 | $0.49 | $0.69


Question: What was the change in gross profit between 2017 and 2018?
Answer: 161149
Calculation: $1,706,792-$1,545,643
Cash Flows
The following table summarizes our cash flows for the years ended December 31, 2019, 2018 and 2017 (in thousands):
At December 31, 2019, $6.7 million of the $539.7 million of cash, cash equivalents and restricted cash was held by foreign subsidiaries. Our intention is to indefinitely reinvest foreign earnings in our foreign subsidiaries. If these earnings were used to fund domestic operations, they would be subject to additional income taxes upon repatriation.
Table:
 |  | Year Ended December 31, | 
 | 2019 | 2018 | 2017
Cash, cash equivalents and restricted cash at beginning of period | $60,068 | $103,051 | $60,765
Cash provided by operating activities | 10,317 | 3,295 | 4,863
Cash used in investing activities | (24,574) | (48,413) | (70,972)
Cash provided by financing activities | 494,101 | 3,099 | 108,475
Effects of exchange rates on cash, cash equivalents and restricted cash | (250) | (964) | (80)
Cash, cash equivalents and restricted cash at end of period | $539,662 | $60,068 | $103,051


Question: What is the change in Cash provided by operating activities from December 31, 2019 to December 31, 2018?
Answer: 7022
Calculation: 10,317-3,295
9. BALANCE SHEET DETAILS
Prepaid expenses and other assets consist of the following (in thousands):
Table:
 | Fiscal year-end | 
 | 2019 | 2018
Prepaid and refundable income taxes | $44,096 | $37,884
Other taxes receivable | 11,208 | 16,930
Prepaid expenses and other assets | 22,689 | 30,266
Total prepaid expenses and other assets | $77,993 | $85,080


Question: What was the  Prepaid expenses and other assets in 2018?
Answer: 30,266
Accounts Receivable, Net
Accounts receivable, net, consisted of the following as of January 31:
(1) Autodesk adopted ASU No. 2014-09, “Revenue from Contracts with Customers" regarding Accounting Standards Codification (ASC Topic 606) during the first quarter of fiscal 2019. As such, current year balances are shown under ASC Topic 606 and prior year balances are shown under ASC Topic 605. See Note 1, "Business and Summary of Significant Accounting Policies-Accounting Standards Adopted", of our consolidated financial statements for additional information.
Allowances for uncollectible trade receivables are based upon historical loss patterns, the number of days that billings are past due, and an evaluation of the potential risk of loss associated with problem accounts.
As part of the indirect channel model, Autodesk has a partner incentive program that uses quarterly attainment of monetary rewards to motivate distributors and resellers to achieve mutually agreed upon business goals in a specified time period. A portion of these incentives reduce maintenance and other revenue in the current period. The remainder, which relates to incentives on our Subscription Program, is recorded as a reduction to deferred revenue in the period the subscription transaction is billed and subsequently recognized as a reduction to subscription revenue over the contract period. These incentive balances do not require significant assumptions or judgments. Depending on how the payments are made, the reserves associated with the partner incentive program are treated on the balance sheet as either contra accounts receivable or accounts payable
Table:
(in million) | 2019 | 2018
Trade accounts receivable | $526.6 | $469.2
Less: Allowance for doubtful accounts | (2.2) | (2.3)
Product returns reserve | (0.3) | (0.2)
Partner programs and other obligations | (49.8) | (28.5)
Accounts receivable, net (1) | $474.3 | $438.2


Question: What are the total deductions for accounts receivables in 2019?
Answer: 52.3
Calculation: 526.6-474.3
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: What does the Weighted average actuarial assumptions consist of?
Answer: Rate of inflation, Rate of increase in salaries, Discount rate
Stock Options
Stock options are granted with exercise prices equal to the fair market value of Leidos' common stock on the date of grant and for terms not greater than ten years. Stock options have a term of seven years and a vesting period of four years, except for stock options granted to the Company's outside directors, which have a vesting period of the earlier of one year from grant date or the next annual meeting of stockholders following grant date.
The fair value of the Company's stock option awards is estimated on the date of grant using the Black-Scholes- Merton option-pricing model. The fair value of the Company's stock option awards to employees are expensed on a straight-line basis over the vesting period of four years, except for stock options granted to the Company's outside directors, which is recognized over the vesting period of one year or less.
During fiscal 2017, the Company ceased the usage of peer group volatility, as an input into its blended approach to measure expected volatility, and increased the reliance on historical volatility. The revised blended approach includes the Company's weighted average historical and implied volatilities. The Company continued the use of this approach during fiscal 2018 and fiscal 2019.
The risk-free rate is derived using the yield curve of a zero-coupon U.S. Treasury bond with a maturity equal to the expected term of the stock option on the grant date. During fiscal 2017 and fiscal 2018, Leidos utilized the simplified method for the expected term, which represented an appropriate period of time that the options granted were expected to remain outstanding between the weighted-average vesting period and end of the respective contractual term.
Upon re-examining the Company's exercise history, the methodology used to calculate the expected term changed in fiscal 2019. Based on actual historical settlement data, the midpoint scenario is utilized with a one-year grant date filter assumption for outstanding options. The Company uses historical data to estimate forfeitures and was derived in the same manner as in the prior years presented.
The weighted average grant-date fair value and assumptions used to determine fair value of stock options granted for the periods presented were as follows:
Table:
 |  | Year Ended | 
 | January 3, 2020 | December 28, 2018 | December 29, 2017
Weighted average grant-date fair value | $11.89 | $13.85 | $11.53
Expected term (in years) | 4.4 | 4.7 | 4.7
Expected volatility | 24.3% | 26.6% | 29.7%
Risk-free interest rate | 2.4% | 2.6% | 1.9%
Dividend yield | 2.2% | 2.0% | 2.5%


Question: When did the Company ceased the usage of peer group volatility?
Answer: During fiscal 2017
22. JOINT VENTURES (Cont’d)
‘‘NA’’ denotes Not Applicable.
Notes:
(1) Based on the Group’s direct equity interest in AIS.
(2) Others include adjustments to align the respective local accounting standards to SFRS(I).
Table:
 | Airtel | Telkomsel | Globe | AIS
Group - 2017 | S$ Mil | S$ Mil | S$ Mil | S$ Mil
Statement of financial position |  |  |  | 
Current assets | 4,378.4 | 3,546.3 | 1,481.6 | 1,368.4
Non-current assets | 45,611.2 | 6,169.6 | 5,548.1 | 10,027.2
Current liabilities | (13,568.3) | (2,547.9) | (2,344.3) | (2,994.1)
Non-current liabilities | (20,676.7) | (886.5) | (2,909.5) | (6,816.6)
Net assets | 15,744.6 | 6,281.5 | 1,775.9 | 1,584.9
Less: Non-controlling interests | (1,399.0) | - | 0.4 | (5.7)
Net assets attributable to equity holders | 14,345.6 | 6,281.5 | 1,776.3 | 1,579.2
Proportion of the Group’s ownership | 36.5% | 35.0% | 47.1% | 23.3% (1)
Group’s share of net assets | 5,230.4 | 2,198.5 | 837.4 | 368.2
Goodwill capitalised | 1,229.0 | 1,403.6 | 381.7 | 293.3
Others (2) | 387.6 | - | (139.9) | (2.4)
Carrying amount of the investment | 6,847.0 | 3,602.1 | 1,079.2 | 659.1
Other items |  |  |  | 
Cash and cash equivalents | 348.7 | 2,371.9 | 229.1 | 522.0
Non-current financial liabilities excluding trade  Current financial liabilities excluding trade and other payables | (19,774.0) | (570.2) | (2,658.7) | (3,690.1)
Current financial liabilities excluding trade and other payables | (3,884.7) | (76.6) | (353.6) | (187.4)
Group's share of market value | 10,995.3 | NA | 3,544.1 | 5,013.9


Question: For the joint venture with Airtel, what is the financial impact of the non-controlling interests on the group's share of net assets?
Answer: 510.63
Calculation: 1,399.0 * 36.5%
Employee Stock Purchase Plan
The weighted average estimated fair value, as defined by the amended authoritative guidance, of rights issued pursuant to the Company’s ESPP during 2019, 2018 and 2017 was $4.28, $5.18 and $6.02, respectively. Sales under the ESPP were 24,131 shares of common stock at an average price per share of $9.76 for 2019, 31,306 shares of common stock at an average price per share of $15.40 for 2018, and 38,449 shares of common stock at an average price per share of $12.04 for 2017.
As of December 29, 2019, 62,335 shares under the 2009 ESPP remained available for issuance. The Company recorded compensation expenses related to the ESPP of $60,000, $205,000 and $153,000 in 2019, 2018 and 2017, respectively.
The fair value of rights issued pursuant to the Company’s ESPP was estimated on the commencement date of each offering period using the following weighted average assumptions:
The methodologies for determining the above values were as follows:
• Expected term: The expected term represents the length of the purchase period contained in the ESPP.
• Risk-free interest rate: The risk-free interest rate assumption is based upon the risk-free rate of a Treasury Constant Maturity bond with a maturity appropriate for the term of the purchase period.
• Volatility: The Company determines expected volatility based on historical volatility of the Company’s common stock for the term of the purchase period.
• Dividend Yield: The expected dividend assumption is based on the Company’s intent not to issue a dividend under its dividend policy.
Table:
 | Fiscal Years |  | 
 | 2019 | 2018 | 2017
Expected life (months) | 6.0 | 6.0 | 6.1
Risk-free interest rate | 2.37% | 2.26% | 1.22%
Volatility | 54% | 50% | 53%


Question: What is the average risk-free interest rate of the company's ESPP in 2018 and 2019?
Answer: 2.32
Calculation: (2.26 + 2.37)/2
The following table presents cumulative items not recognized as a component of net periodic benefits expense as of December 31, 2017, items recognized as a component of net periodic benefits expense in 2018, additional items deferred during 2018 and cumulative items not recognized as a component of net periodic benefits expense as of December 31, 2017. The items not recognized as a component of net periodic benefits expense have been recorded on our consolidated balance sheets in accumulated other comprehensive loss:
(1) Amounts currently recognized in net periodic benefits expense include $375 million of benefit arising from the adoption of ASU 2018-02. See Note 1— Background and Summary of Significant Accounting Policies for further detail.
(2) Amounts currently recognized in net periodic benefits expense include $32 million arising from the adoption of ASU 2018-02. See Note 1— Background and Summary of Significant Accounting Policies for further detail.
Table:
 |  |  | As of and for the Years Ended December 31, |  | 
 | 2017 | Recognition of Net Periodic Benefits Expense | Deferrals | Net Change in AOCL | 2018
 |  |  | (Dollars in millions) |  | 
Accumulated other comprehensive loss: |  |  |  |  | 
Pension plans: |  |  |  |  | 
Net actuarial (loss) gain | $(2,892) | 179 | (260) | (81) | (2,973)
Prior service benefit (cost) | 54 | (8) | — | (8) | 46
Deferred income tax benefit (expense)(1) | 1,107 | (418) | 65 | (353) | 754
Total pension plans | (1,731) | (247) | (195) | (442) | (2,173)
Post-retirement benefit plans: |  |  |  |  | 
Net actuarial (loss) gain | (250) | — | 257 | 257 | 7
Prior service (cost) benefit | (107) | 20 | — | 20 | (87)
Deferred income tax benefit (expense)(2) | 122 | (37) | (63) | (100) | 22
Total post-retirement benefit plans | (235) | (17) | 194 | 177 | (58)
Total accumulated other comprehensive loss | $(1,966) | (264) | (1) | (265) | (2,231)


Question: What does the table show?
Answer: presents cumulative items not recognized as a component of net periodic benefits expense as of December 31, 2017, items recognized as a component of net periodic benefits expense in 2018, additional items deferred during 2018 and cumulative items not recognized as a component of net periodic benefits expense as of December 31, 2017
Goodwill
Goodwill arises from the acquisition method of accounting for business combinations and represents the excess of the purchase price over the fair value of the net assets and other identifiable intangible assets acquired. The fair values of net tangible assets and intangible assets acquired are based upon preliminary valuations and the Company's estimates and assumptions are subject to change within the measurement period (potentially up to one year from the acquisition date).
The following table presents the changes in the carrying amount of goodwill for the periods indicated:
The Company performs an annual goodwill impairment assessment on October 31st each year, using a two-step quantitative assessment. Step one is the identification of potential impairment. This involves comparing the fair value of each reporting unit, which the Company has determined to be the entity itself, with its carrying amount, including goodwill.
If the fair value of a reporting unit exceeds the carrying amount, the goodwill of the reporting unit is considered not impaired and the second step of the impairment test is unnecessary. If the carrying amount of a reporting unit exceeds its fair value, the second step of the impairment test is performed to measure the amount of impairment loss, if any.
The Company determined there were no indications of impairment associated with goodwill. As a result,n o goodwill impairment was recognized as of October 31, 2019. In addition to its annual review, the Company performs a test of impairment when indicators of impairment are present. As of December 31, 2019, there were no indications of impairment of the Company’s goodwill balances.
Table:
 | Years Ended December 31, | 
 | 2019 | 2018
 | (in thousands) | 
Beginning balance | $238,330 | $237,992
Adjustments | — | 338
Ending balance | $238,330 | $238,330


Question: In which year was the ending balance less than 240,000 thousands?
Answer: 2019, 2018
Calculation: locate and analyze ending balance in row 6