hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
Fourth quarter gross profit was $1,081 million and gross margin was 39.3%. On a sequential basis, gross margin increased 140 basis points, mainly driven by improved product mix and better manufacturing efficiencies.
Gross margin decreased 70 basis points year-over-year, mainly impacted by price pressure and unsaturation charges, partially offset by improved manufacturing efficiencies, better product mix and favorable currency effects, net of hedging.
Table:
 |  | Three Months Ended |  | Variation | 
 | December 31, 2019 | September 29, 2018 | December 31, 2018 | Sequential | Year-Over-Year
 |  | (Unaudited, in millions) |  |  | 
Gross profit | $ 1,081 | $ 967 | $ 1,059 | 11.8% | 2.0%
Gross margin (as percentage of net revenues) | 39.3% | 37.9% | 40.0% | +140 bps | -70 bps


Question: What is the average Gross margin (as percentage of net revenues) for the period December 31, 2019 and 2018?
Answer: 39.65
Calculation: (39.3+40.0) / 2
This section provides a summary of the capital management activity of the Group during the period, including the Group’s borrowings. The Group manages its liquidity requirements with a range of short-term money market loans, bank loans, and flexible debt instruments with varying maturities.
The Group manages its capital structure with the objective of enhancing long-term shareholder value through funding its business at an optimised weighted average cost of capital.
The Group returns capital to shareholders when consistent with its long-term capital structure objectives and where it will enhance shareholder value. In May 2019, the Group returned $1.7 billion of capital to shareholders through an off-market share buy-back. This resulted in the purchase of 58.7 million shares which were subsequently cancelled. The share buy-back complements dividends of $1.4 billion paid to shareholders this reporting period through the 2018 final and special dividends, and the 2019 interim dividend, with a total of $3.1 billion returned to shareholders, excluding franking credits.
The Group remains committed to solid investment grade credit ratings and a number of actions can be undertaken to support the credit profile including the sale of non-core assets, further working capital initiatives, and adjusting growth capital expenditure and the property leasing profile. The Group’s credit ratings (1) are BBB (stable outlook) according to S&P and Baa2 (stable outlook) according to Moody’s.
In March 2019, the $500 million domestic Medium Term Notes matured. It was refinanced in April 2019 with $400 million of Medium Term Notes issued to meet the Group’s new Green Bond Framework (Green Bonds). The Green Bonds have been issued for a five-year tenor, maturing in April 2024.
In November 2019, $320 million of undrawn syndicated bank loan facilities are due to mature. The Group intends to refinance this facility at maturity.
(1) These credit ratings have been issued by a credit rating agency which holds an Australian Financial Services Licence with an authorisation to issue credit ratings to wholesale clients only and are for the benefit of the Group’s debt providers.
Table:
 | OPENING | NON‑CASH | NET CASH | CLOSING
 | BALANCE | MOVEMENTS | MOVEMENTS | BALANCE
2019 | $M | $M | $M | $M
Current, unsecured |  |  |  | 
Short-term money market loans | 16 | 2 | 21 | 39
Bank loans | 88 | 5 | 142 | 235
Securities | 500 | – | (500) | –
Total current borrowings | 604 | 7 | (337) | 274
Non‑current, unsecured |  |  |  | 
Bank loans | 540 | 36 | 102 | 678
Securities | 1,668 | 110 | 400 | 2,178
Unamortised borrowing costs | (9) | 5 | – | (4)
Finance leases | – | 6 | (3) | 3
Total non‑current borrowings | 2,199 | 157 | 499 | 2,855
Total | 2,803 | 164 | 162 | 3,129


Question: What percentage constitution does bank loans hold in total non-current borrowings in the closing balance?
Answer: 23.75
Calculation: 678/2,855
Teradyne’s gross unrecognized tax benefits for the years ended December 31, 2019, 2018 and 2017 were as follows:
Current year additions relate to federal and state research credits. Prior year additions primarily relate to stock-based compensation. Prior year reductions are primarily composed of federal and state reserves related to transfer pricing and research credits and resulted from the completion of the 2015 U.S. federal audit in the first quarter of 2019.
Of the $21.2 million of unrecognized tax benefits as of December 31, 2019, $12.7 million would impact the consolidated income tax rate if ultimately recognized. The remaining $8.5 million would impact deferred taxes if recognized.
Teradyne does not anticipate a material change in the balance of unrecognized tax benefits as of December 31, 2019 in the next twelve months.
Teradyne records all interest and penalties related to income taxes as a component of income tax expense. Accrued interest and penalties related to income tax items at December 31, 2019 and 2018 amounted to $1.4 million and $0.3 million, respectively. For the years ended December 31, 2019, 2018 and 2017, expense of $1.1 million, expense of $0.1 million and benefit of $0.1 million, respectively, was recorded for interest and penalties related to income tax items.
Teradyne is subject to U.S. federal income tax, as well as income tax in multiple state, local and foreign jurisdictions. As of December 31, 2019, all material state and local income tax matters have been concluded through 2013, all material federal income tax matters have been concluded through 2015 and all material foreign income tax matters have been concluded through 2011. However, in some jurisdictions, including the United States, operating losses and tax credits may be subject to adjustment until such time as they are utilized and the year of utilization is closed to adjustment.
As of December 31, 2019, Teradyne is not permanently reinvested with respect to the unremitted earnings of non-U.S. subsidiaries to the extent that those earnings exceed local statutory and operational requirements. Remittance of those earnings is not expected to result in material income tax.
Table:
 | 2019 | 2018 | 2017
 |  | (in thousands) | 
Beginning balance, as of January 1 | $43,395 | $36,263 | $38,958
Additions: |  |  | 
Tax positions for current year | 1,322 | 4,716 | 8,208
Tax positions for prior years | 8,043 | 2,626 | 199
Reductions: |  |  | 
Tax positions for prior years | (31,397) | (153) | (10,573)
Expiration of statutes | (183) | (57) | (325)
Settlements with tax authorities | — | — | (204)
Ending balance, as of December 31 | $21,180 | $43,395 | $36,263


Question: What was the percentage change in Beginning balance, as of January 1 in 2019 from 2018?
Answer: 19.67
Calculation: (43,395-36,263)/36,263
Cash flows
The following table summarizes our cash flow activities in fiscal 2019 compared to fiscal 2018.
Our cash flow activities in fiscal 2018 compared to fiscal 2017 were discussed under Liquidity, Capital Resources and Cash Requirement in Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations included in our Annual Report on Form 10-K for the fiscal year ended March 30, 2018.
Table:
 | Fiscal Year | 
(In millions) | 2019 | 2018
Net cash provided by (used in): |  | 
Operating activities | $1,495 | $957
Investing activities | $(241) | $(21)
Financing activities | $(1,209) | $(3,475)
Increase (decrease) in cash and cash equivalents | $17 | $(2,473)


Question: What is the average Net cash used in for Financing activities for fiscal 2019 and 2018?
Answer: 2342
Calculation: (1,209+3,475)/2
Segment Financial Results
Revenues
The following table sets forth revenues by segment for the periods presented (in millions):
(1) Revenues for Corporate and Other represent deferred revenue purchase accounting adjustments recorded in accordance with GAAP.
Table:
 | Year ended December 31 |  | Variance | 
 | 2019 | 2018 | $ | %
Software Solutions | $1,012.3 | $962.0 | $50.3 | 5%
Data and Analytics | 165.4 | 154.5 | 10.9 | 7%
Corporate and Other (1) | (0.5) | (2.5) | 2.0 | NM
Total | $1,177.2 | $1,114.0 | $63.2 | 6%


Question: Which years did revenue from Software Solutions exceed $1,000 million?
Answer: 2019
Calculation: (2019:1,012.3)
instruments at fair value and to recognize the effective and ineffective portions of the cash flow hedges . ( 2 ) for the year ended december 31 , 2000 , earnings available to common stockholders includes reductions of $ 2371 of preferred stock dividends and $ 16266 for the redemption of pca 2019s 123 20448% ( 20448 % ) preferred stock . ( 3 ) on october 13 , 2003 , pca announced its intention to begin paying a quarterly cash dividend of $ 0.15 per share , or $ 0.60 per share annually , on its common stock . the first quarterly dividend of $ 0.15 per share was paid on january 15 , 2004 to shareholders of record as of december 15 , 2003 . pca did not declare any dividends on its common stock in 2000 - 2002 . ( 4 ) total long-term obligations include long-term debt , short-term debt and the current maturities of long-term debt . item 7 . management 2019s discussion and analysis of financial condition and results of operations the following discussion of historical results of operations and financial condition should be read in conjunction with the audited financial statements and the notes thereto which appear elsewhere in this report . overview on april 12 , 1999 , pca acquired the containerboard and corrugated products business of pactiv corporation ( the 201cgroup 201d ) , formerly known as tenneco packaging inc. , a wholly owned subsidiary of tenneco , inc . the group operated prior to april 12 , 1999 as a division of pactiv , and not as a separate , stand-alone entity . from its formation in january 1999 and through the closing of the acquisition on april 12 , 1999 , pca did not have any significant operations . the april 12 , 1999 acquisition was accounted for using historical values for the contributed assets . purchase accounting was not applied because , under the applicable accounting guidance , a change of control was deemed not to have occurred as a result of the participating veto rights held by pactiv after the closing of the transactions under the terms of the stockholders agreement entered into in connection with the transactions . results of operations year ended december 31 , 2004 compared to year ended december 31 , 2003 the historical results of operations of pca for the years ended december , 31 2004 and 2003 are set forth the below : for the year ended december 31 , ( in millions ) 2004 2003 change .

Table:
( in millions ) | 2004 | 2003 | change
net sales | $ 1890.1 | $ 1735.5 | $ 154.6
income before interest and taxes | $ 140.5 | $ 96.9 | $ 43.6
interest expense net | -29.6 ( 29.6 ) | -121.8 ( 121.8 ) | 92.2
income ( loss ) before taxes | 110.9 | -24.9 ( 24.9 ) | 135.8
( provision ) benefit for income taxes | -42.2 ( 42.2 ) | 10.5 | -52.7 ( 52.7 )
net income ( loss ) | $ 68.7 | $ -14.4 ( 14.4 ) | $ 83.1
.

Question: what was the percentage change in income before interest and taxes between 2003 and 2004?
Answer: 45%
Calculation: divide(43.6, 96.9)
Comparison of 2019 and 2018
Revenue
We generate substantially all of our revenue from sales of subscriptions, including domain registrations and renewals, hosting and presence products and business applications. Our subscription terms average one year, but can range from monthly terms to multi-annual terms of up to ten years depending on the product. We generally collect the full amount of subscription fees at the time of sale, while revenue is recognized over the period in which the performance obligations are satisfied, which is generally over the contract term. Revenue is presented net of refunds, and we maintain a reserve to provide for refunds granted to customers
Domains revenue primarily consists of revenue from the sale of domain registration subscriptions, domain add-ons and aftermarket domain sales. Domain registrations provide a customer with the exclusive use of a domain during the applicable contract term. After the contract term expires, unless renewed, the customer can no longer access the domain.
Hosting and presence revenue primarily consists of revenue from the sale of subscriptions for our website hosting products, website building products, website security products and online visibility products.
Business applications revenue primarily consists of revenue from the sale of subscriptions for third-party productivity applications, email accounts, email marketing tools and telephony solutions.
The following table presents our revenue for the periods indicated:
The 12.3% increase in total revenue was driven by growth in total customers and ARPU as well as having a full year of revenue from MSH in 2019, partially offset by the impact of movements in foreign currency exchange rates. The increase in customers impacted each of our revenue lines, as the additional customers purchased subscriptions across our product portfolio.
Domains. The 10.8% increase in domains revenue was primarily driven by the increase in domains under management from 77.6 million as of December 31, 2018 to 79.6 million as of December 31, 2019, increased aftermarket domain sales and international growth
Hosting and presence. The 10.7% increase in hosting and presence revenue was primarily driven by increased revenue from our website building and website security products as well as our acquisition of MSH.
Business applications. The 20.8% increase in business applications was primarily driven by increased customer adoption of our email, productivity and telephony solutions.
Table:
 | Year Ended December 31, |  |  | 2019 to 2018 |  | 2018 to 2017 | 
 | 2019 | 2018 | 2017 | $ change | % change | $ change | % change
Domains | $ 1,351.6 | $ 1,220.3 | $ 1,057.2 | $ 131.3 | 11 % | $ 163.1 | 15 %
Hosting and presence | 1,126.5 | 1,017.6 | 847.9 | 108.9 | 11 % | 169.7 | 20 %
Business applications | 510.0 | 422.2 | 326.8 | 87.8 | 21 % | 95.4 | 29 %
Total revenue | $ 2,988.1 | $ 2,660.1 | $ 2,231.9 | $ 328.0 | 12 % | $ 428.2 | 19 %


Question: What is the average domain revenue for 2018 and 2019?
Answer: 1285.95
Calculation: (1,351.6+1,220.3)/2
GasLog Ltd. and its Subsidiaries
Notes to the consolidated financial statements (Continued)
For the years ended December 31, 2017, 2018 and 2019
(All amounts expressed in thousands of U.S. Dollars, except share and per share data)
10. Other Non-Current Assets
Other non-current assets consist of the following:
Cash collaterals on swaps represent cash deposited for the Group’s interest rate swaps being the difference between their fair value and an agreed threshold.
Table:
 | As of December 31, | 
 | 2018 | 2019
Various guarantees | 451 | 388
Other long-term assets | 2,092 | 1,613
Cash collaterals on swaps | — | 22,220
Total | 2,543 | 24,221


Question: What was the percentage change in total other non-current assets from 2018 to 2019?
Answer: 852.46
Calculation: (24,221 - 2,543)/2,543
Equity Method We own 20.51%of GTE Mobilnet of Texas RSA #17 Limited Partnership (“RSA #17”), 16.67% of Pennsylvania RSA 6(I) Limited Partnership (“RSA 6(I)”) and 23.67% of Pennsylvania RSA 6(II) Limited Partnership (“RSA 6(II)”). RSA #17 provides cellular service to a limited rural area in Texas.
RSA 6(I) and RSA 6(II) provide cellular service in and around our Pennsylvania service territory. Because we have significant influence over the operating and financial policies of these three entities, we account for the investments using the equity method. In connection with the adoption of ASC 606 by our equity method partnerships, the value of our combined partnership interests increased $1.8 million, which is reflected in the cumulative effect adjustment to retained earnings during the year ended December 31, 2018.
In 2019, 2018 and 2017, we received cash distributions from these partnerships totaling $19.0 million, $21.8 million and $17.2 million, respectively. The carrying value of the investments exceeds the underlying equity in net assets of the partnerships by $32.8 million as of December 31, 2019 and 2018.
The combined results of operations and financial position of our three equity investments in the cellular limited partnerships are summarized below:
Table:
(In thousands) | 2019 | 2018 | 2017
Total revenues | $ 349,640 | $ 346,251 | $ 350,611
Income from operations | 100,182 | 100,571 | 104,973
Net income before taxes | 99,146 | 99,408 | 103,497
Net income | 99,146 | 99,408 | 103,497
Current assets | $ 80,655 | $ 75,040 | $ 78,782
Non-current assets | 156,672 | 103,996 | 95,959
Current liabilities | 33,292 | 24,719 | 22,472
Non-current liabilities | 92,477 | 51,840 | 51,463
Partnership equity | 111,558 | 102,478 | 100,806


Question: What was the percentage increase / (decrease) in the net income from 2018 to 2019?
Answer: -0.26
Calculation: 99,146 / 99,408 - 1
Liquidity and Capital Resources
As of December 31, 2019, we had total current assets of approximately $27.1 million, compared with current liabilities of approximately $6.1 million, resulting in working capital of approximately $21.0 million and a current ratio of approximately 4.4 to 1. This compares with the working capital balance of approximately $11.5 million and the current ratio of 3.7 to 1 at December 31, 2018. This increase in working capital, as discussed in more detail below, is primarily the result of the capital we raised in 2019.
Following is a table with summary data from the consolidated statement of cash flows for the years ended December 31, 2019 and 2018, as presented.
Our operating activities used approximately $1.7 million in the year ended December 31, 2019, as compared with approximately $0.8 million provided by operating activities in the year ended December 31, 2018. The cash provided in 2018 was the result of our net income and non-cash expenses, partially offset by the increased working capital required to support higher revenues. The cash used in operations in 2019 was the result of increased levels of working capital required to support higher revenue levels, expenditures related to growth, and costs associated with our acquisition in 2019.
We used approximately $5.7 million in investing activities in the year ended December 31, 2018, as compared with approximately $10.6 million used in investing activities in the year ended December 31, 2019. The majority of the investing activities in 2018 related to our acquisition of CareSpeak communications in October 2018. The majority of investing in activities in 2019 related to our acquisitions of RMDY Health, Inc. in 2019, as well as a software purchase in 2019.
Financing activities provided $8.7 million in the year ended December 31, 2018, as compared with $22.2 million in the year ended December 31, 2019. The cash provided in 2018 was primarily the result of the equity raised in connection with our uplisting to Nasdaq, as well as from the proceeds of option exercises. The cash used in 2019 was the result of our underwritten offering in 2019, as well as from the proceeds of option exercises.
With our cash on hand, we have sufficient cash to operate our business for more than the next 12 months and we do not anticipate the need to raise additional equity for operating purposes.
Table:
 | 2019 | 2018
Net cash provided by (used in) operating activities | $(1,660,796) | $792,555
Net cash used in investing activities | (10,582,086) | (5,686,833)
Net cash provided by financing activities | 22,181,528 | 8,685,739
Net increase in cash and cash equivalents | $9,938,646 | $3,791,461


Question: What were the total current assets and liabilities as of December 31, 2019?
Answer: approximately $27.1 million, approximately $6.1 million
Total assets for the Company decreased $76.4 million as of December 31, 2019 as compared to December 31, 2018.  Entertainment and Communications assets decreased $58.8 million due to a decrease in property, plant and equipment primarily as a result of the increased depreciation in 2019 related to Hawaiian Telcom property, plant and equipment exceeding capital expenditures. IT Services and Hardware assets increased by $32.6 million primarily due to the Company’s recognition of operating lease right-of-use assets in the Consolidated Balance Sheets upon adoption of ASU 2016-02.
Corporate assets decreased $50.2 million primarily due to decreased receivables. Lower receivables is partially due to timing of sales in the fourth quarter as well as additional sales of certain receivables under the factoring arrangement as of December 31, 2019 compared to December 31, 2018. Deferred tax assets and liabilities totaled $59.3 million and $11.7 million as of December 31, 2019, respectively. Deferred tax assets and liabilities totaled $47.5 million and $11.4 million as of December 31, 2018, respectively. The increase in deferred tax assets in 2019, as compared to 2018, is due to increased net operating losses in 2019.
Table:
 |  | As of December 31,
(dollars in millions) | 2019 | 2018
Assets |  | 
Entertainment and Communications | $1,840.0 | $1,898.8
IT Services and Hardware | 500.7 | 468.1
Corporate and eliminations | 313.1 | 363.3
Total assets | $2,653.8 | $2,730.2


Question: What is the company's 2019 assets under IT services and hardware?
Answer: 500.7
Restricted Share Awards
During the years ended December 31, 2017, pursuant to the Company’s 2016 Incentive Plan and 2005 Incentive Plan, the Company granted RSAs. The awards have requisite service periods of three years and vest in increments of 33% on the anniversary of the grant dates. Under each arrangement, shares are issued without direct cost to the employee. RSAs granted to our board vest one year from grant or as of the next annual shareholders meeting, whichever is earlier. The Company estimates the fair value of the RSAs based upon the market price of the Company’s stock at the date of grant. The RSA grants provide for the payment of dividends on the Company’s common stock, if any, to the participant during the requisite service period, and the participant has voting rights for each share of common stock. The Company recognizes compensation expense for RSAs on a straight-line basis over the requisite service period.
A summary of nonvested RSAs is as follows:
During the year ended December 31, 2019, a total of 106,610 RSAs vested. The Company withheld 32,371 of those shares to pay the employees’ portion of the minimum payroll withholding taxes.
Table:
 | Number of Shares | Weighted Average Grant Date Fair Value
Nonvested at December 31, 2018 | 213,337 | $20.21
Vested | -106,610 | 20.17
Forfeited | -13,885 | 20.64
Nonvested at December 31, 2019 | 92,842 | $20.13


Question: What was the difference in Weighted Average Grant Date Fair Value between Vested and Forfeited shares?
Answer: 0.47
Calculation: 20.64-20.17