hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
FY19 Financial Results
FY19 Challenges
While we saw improvements in some areas of our business, our overall performance and stock price was negatively impacted by several significant factors: • Revenue and business momentum in our former Enterprise Security segment declined in FY19. • The Company was subject to an internal investigation, which was commenced and completed by the Audit Committee of the Board (the ‘‘Audit Committee’’) in connection with concerns raised by a former employee. • We announced a restructuring plan pursuant to which we targeted reductions of our global workforce of up to approximately 8%. • Our executive leadership team was in transition with announced executive officer departures in November 2018 and January 2019.
Table:
 | Fiscal 2019 | Fiscal 2018
(In millions, except for per share amounts) | (‘‘FY19’’) | (‘‘FY18’’)
Net revenues | $4,731 | $4,834
Operating income | 380 | 49
Net income | 31 | 1,138
Net income per share — diluted | 0.05 | 1.70
Net cash provided by operating activities | 1,495 | 950


Question: How much reduction in global workforce is in the restructuring plan?
Answer: up to approximately 8%
ITEM 6. SELECTED FINANCIAL DATA
The following selected consolidated financial data is derived from our Consolidated Financial Statements. As our historical operating results are not necessarily indicative of future operating results, this data should be read in conjunction with the Consolidated Financial Statements and notes thereto, and with Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations.
(1) On December 1, 2018, the beginning of our fiscal year 2019, we adopted the requirements of the Financial Accounting Standards Board’s Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers, Topic 606, utilizing the modified retrospective method of transition. Prior period information has not been restated and continues to be reported under the accounting standard in effect for those periods.
(2) As of November 29, 2019, working capital was in a deficit primarily due to the reclassification of our $2.25 billion term loan due April 30, 2020 and $900 million 4.75% senior notes due February 1, 2020 to current liabilities. We intend to refinance our Term Loan and 2020 Notes on or before the due dates.
(3) Our fiscal year is a 52- or 53-week year that ends on the Friday closest to November 30. Fiscal 2016 was a 53-week fiscal year compared with the other periods presented which were 52-week fiscal years.
Table:
(in thousands, except per share amounts and employee data) |  |  | Fiscal Years |  | 
 | 2019(1) | 2018 | 2017 | 2016(3) | 2015
Operations: |  |  |  |  | 
Revenue: | $11,171,297 | $9,030,008 | $7,301,505 | $5,854,430 | $4,795,511
Gross profit | $9,498,577 | $7,835,009 | $6,291,014 | $5,034,522 | $4,051,194
Income before income taxes | $3,204,741 | $2,793,876 | $2,137,641 | $1,435,138 | $873,781
Net income | $2,951,458 | $2,590,774 | $1,693,954 | $1,168,782 | $629,551
Net income per share: |  |  |  |  | 
Basic | $6.07 | $5.28 | $3.43 | $2.35 | $1.26
Diluted | $6.00 | $5.20 | $3.38 | $2.32 | $1.24
Shares used to compute basic net income                                        per share | 486,291 | 490,564 | 493,632 | 498,345 | 498,764
Shares used to compute diluted net income per share | 491,572 | 497,843 | 501,123 | 504,299 | 507,164
Financial position: |  |  |  |  | 
Cash, cash equivalents and short-term investments | $4,176,976 | $3,228,962 | $5,819,774 | $4,761,300 | $3,988,084
Working capital(2) | $(1,696,013) | $555,913 | $3,720,356 | $3,028,139 | $2,608,336
Total assets | $20,762,400 | $18,768,682 | $14,535,556 | $12,697,246 | $11,714,500
Debt, current | $3,149,343 | $— | $— | $— | $—
Debt, non-current | $988,924 | $4,124,800 | $1,881,421 | $1,892,200 | $1,895,259
Stockholders’ equity | $10,530,155 | $9,362,114 | $8,459,869 | $7,424,835 | $7,001,580
Additional data: |  |  |  |  | 
Worldwide employees | 22,634 | 21,357 | 17,973 | 15,706 | 13,893


Question: What is the total liabilities of the company in 2019?
Answer: 4138267
Calculation: 3,149,343 + 988,924
13. INCOME TAXES
The Company files income tax returns in the U.S. federal jurisdiction and the state of California. With few exceptions, the Company is no longer subject to U.S. federal, state and local, or non-U.S. income tax examinations by tax authorities for years before 2015.
Deferred income taxes have been provided by temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for tax purposes. To the extent allowed by GAAP, the Company provides valuation allowances against the deferred tax assets for amounts when the realization is uncertain. Included in the balances at December 31, 2019 and 2018, are no tax positions for which the ultimate deductibility is highly certain, but for which there is uncertainty about the timing of such deductibility. Because of the impact of deferred tax accounting, other than interest and penalties, the disallowance of the shorter deductibility period would not affect the annual effective tax rate but would accelerate the payment of cash to the taxing authority to an earlier period.
The Company’s policy is to recognize interest accrued related to unrecognized tax benefits in interest expense and penalties in operating expenses. During the periods ended December 31, 2019 and 2018, the Company did not recognize interest and penalties.
The income tax provision differs from the amount of income tax determined by applying the U.S. federal income tax rate to pretax income from continuing operations for the year ended December 31, 2019 and 2018 due to the following:
Table:
 | 2019 | 2018
Net taxable (loss) at effective tax rates | $(2,508) | $(1,567)
Stock compensation expense | 119 | 358
Amortization of debt discount | 94 | 10
Impairment of goodwill | - | 519
Other | (223) | (153)
Valuation allowance | 2,518 | 833
Income tax expense | $- | $-


Question: What is the percentage change in the valuation allowance from 2018 to 2019?
Answer: 202.28
Calculation: (2,518-833)/833
Standard & Poor's Rating Services', a Standard & Poor's Financial Services LLC business ("S&P"), corporate credit rating is "BBB." Moody’s Investor Service, Inc.'s ("Moody's") applicable rating is "Baa2." Fitch Ratings', a wholly owned subsidiary of Fimlac, S.A. ("Fitch"), applicable rating is "BBB." The below table outlines the fees paid on the unused portion of the facility ("Facility Fee Rate") and letter of credit fees and borrowings ("Undrawn Letter of Credit Fee and Borrowing Spread") that corresponds to the applicable rating levels from S&P, Moody's and Fitch.
In the event the rating levels are split, the applicable fees and spread will be based upon the rating level in effect for two of the rating agencies, or, if all three rating agencies have different rating levels, the applicable fees and spread will be based upon the rating level that is between the rating levels of the other two rating agencies.
Table:
Ratings Level (S&P/Moody's/Fitch) | Facility Fee Rate | All-in Borrowing Spread
A-/A3/A- or above | 0.090% | 1.000%
BBB+/Baa1/BBB+ | 0.100% | 1.125%
BBB/Baa2/BBB (current level) | 0.125% | 1.250%
BBB-/Baa3/BBB- | 0.175% | 1.375%
BB+/Ba1/BB+ or lower | 0.225% | 1.625%


Question: What percentage of the loan is the company currently paying for the unused portion of the facility?
Answer: 0.125%
Capital and financial risk management
13 Capital risk management
The Group's objectives when managing capital are to safeguard its ability to continue as a going concern, so that it can continue to provide returns to its shareholders and benefits to its stakeholders and to maintain an optimal capital structure to reduce the cost of capital.
In the future, the Directors may pursue funding options such as debt, sale and leaseback of assets, additional equity and various other funding mechanisms as appropriate in order to undertake its projects and deliver optimum shareholders’ return.
The Group intends to maintain a gearing ratio appropriate for a company of its size and growth.
The Group manages its capital structure by regularly reviewing its gearing ratio to ensure it maintains an appropriate level of gearing within facility covenants. This ratio is calculated as net debt divided by total capital. Net debt is calculated as total interest bearing financial liabilities, less cash and cash equivalents. Total capital is calculated as equity, as shown in the Consolidated Balance Sheet, plus net debt.
Table:
 | 30 June 2019 | 30 June 2018
 | $'000 | $'000
Total borrowings and lease | 867,177 | 302,954
Less: cash and cash equivalents | (398,999) | (417,982)
Net debt (surplus cash) | 468,178 | (115,028)
Total equity | 875,303 | 893,977
Total capital | 1,343,481 | 778,949
Gearing ratio | 35.0% | -%


Question: What is the gearing ratio in 2019?
Answer: 35.0%
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: was interest expense net in 2004 greater than ( provision ) benefit for income taxes?
Answer: no
Calculation: greater(-29.6, -42.2)
Sources and Uses of Cash
Our primary source of liquidity from operations was the collection of revenue in advance from our customers, accounts receivable from our customers, and the management of the timing of payments to our vendors and service providers.
Investing activities in 2019 consist of $284.6 million, net of cash acquired, used in the acquisitions of AppRiver and DeliverySlip and $11.7 million for capital expenditures, which include $8.2 million in internal-use software costs, and $3.5 million for computer and networking equipment. These investments in new equipment and cloud hosting infrastructure are to renovate our business processes and product offerings.
Investing activities in 2018 consist of $11.8 million, net of cash acquired, used in the acquisition of Erado and $4.2 million for capital expenditures, which include $2.1 million for computer and networking equipment, $1.5 million in internal-use software costs, and $500 thousand for other activities including the acquisition of other internal use software. These investments in new equipment and cloud hosting infrastructure were to modernize our business processes and product offerings.
Financing activities in 2019 includes proceeds from long term debt of $179.2 million, net of issuance costs of $6.4 million and repayment of $1.4 million, as well as $96.6 million, net of issuance costs, raised through the private purchase of preferred stock, and $415 thousand received from the exercise of stock options. The proceeds from our debt and preferred stock issuances were used to fund our AppRiver acquisition in February 2019 and our DeliverySlip acquisition in May 2019. We also used $3.8 million for contingent consideration payments associated with our acquisitions of Greenview, Erado and DeliverySlip. In addition to these items, we paid $1.7 million to satisfy finance lease liabilities and $1.9 million to repurchase common stock related to the tax impact of vesting restricted awards in 2019.
Financing activities in 2018 relate primarily to $5.4 million used in a $10 million share repurchase program authorized by our Board of Directors on April 24, 2017, and $656 thousand used in the repurchase of common stock related to the tax impact of vesting restricted stock awards, and a $605 thousand earn-out payment associated with our acquisition of Greenview. Financing activities in 2017 include $3.8 million used in the same share repurchase program and $762 thousand used in the repurchase of common stock related to the tax impact of vesting restricted awards offset by the receipt of $4.2 million from the exercise of stock options.
Table:
Years Ended December 31, |  |  | 
(In thousands) | 2019 | 2018 | 2017
Net cash provided by operations | $ 13,951 | $ 16,671 | $ 18,204
Net cash used in investing activities | $ (296,243 ) | $ (15,952 ) | $ (11,285 )
Net cash provided by (used in) financing activities | $ 268,740 | $ (6,593 ) | $ (367 )


Question: Which year had the highest Net cash provided by operations?
Answer: 2017
Calculation: 18,204> 16,671> 13,951
Deferred income taxes reflect the net tax effects of temporary differences between the bases of assets and liabilities for financial reporting and income tax purposes as well as carryforwards. Deferred tax assets and liabilities consist of the following:
We assess positive and negative evidence for each jurisdiction to determine whether it is more likely than not that existing deferred tax assets will be realized. As of August 29, 2019, and August 30, 2018, we had a valuation allowance of $277 million and $228 million, respectively, against our net deferred tax assets, primarily related to net operating loss carryforwards in Japan. Changes in 2019 in the valuation allowance were due to adjustments based on management's assessment of tax credits and net operating losses that are more likely than not to be realized.
Table:
As of | 2019 | 2018
Deferred tax assets |  | 
Net operating loss and tax credit carryforwards | $1,045 | $1,417
Accrued salaries, wages, and benefits | 122 | 163
Property, plant, and equipment | 80 | —
Other | 110 | 115
Gross deferred tax assets | 1,357 | 1,695
Less valuation allowance | (277) | (228)
Deferred tax assets, net of valuation allowance | 1,080 | 1,467
Deferred tax liabilities |  | 
Product and process technology | (138) | (62)
Property, plant, and equipment | — | (173)
Other | (109) | (213)
Deferred tax liabilities | (247) | (448)
Net deferred tax assets | $833 | $1,019
Reported as |  | 
Deferred tax assets | $837 | $1,022
Deferred tax liabilities (included in other noncurrent liabilities) | (4) | (3)
Net deferred tax assets | $833 | $1,019


Question: What is the amount of net deferred tax assets in 2018?
Answer: $1,019
asset category target allocation total quoted prices in active markets for identical assets ( level 1 ) significant observable inputs ( level 2 ) significant unobservable inputs .

Table:
 | level 3
balance as of january 1 2018 | $ 278
actual return on assets | -23 ( 23 )
purchases issuances and settlements net | -25 ( 25 )
balance as of december 31 2018 | $ 230
balance as of january 1 , 2017 .
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$ 140 actual return on assets .
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2 purchases , issuances and settlements , net .
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136 balance as of december 31 , 2017 .
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$ 278 the company 2019s postretirement benefit plans have different levels of funded status and the assets are held under various trusts .
the investments and risk mitigation strategies for the plans are tailored specifically for each trust .
in setting new strategic asset mixes , consideration is given to the likelihood that the selected asset allocation will effectively fund the projected plan liabilities and meet the risk tolerance criteria of the company .
the company periodically updates the long-term , strategic asset allocations for these plans through asset liability studies and uses various analytics to determine the optimal asset allocation .
considerations include plan liability characteristics , liquidity needs , funding requirements , expected rates of return and the distribution of returns .
in 2012 , the company implemented a de-risking strategy for the american water pension plan after conducting an asset-liability study to reduce the volatility of the funded status of the plan .
as part of the de-risking strategy , the company revised the asset allocations to increase the matching characteristics of fixed- income assets relative to liabilities .
the fixed income portion of the portfolio was designed to match the bond- .

Question: what was the change in value for level 3 inputs during 2018?\\n
Answer: -48
Calculation: subtract(230, 278)
During 2019, 2018 and 2017, no income tax benefit or expense was recorded for stock options exercised as an adjustment to equity.
The change in the unrecognized income tax benefits for the years ended December 31, 2019, 2018 and 2017 is reconciled below:
As of December 31, 2019, 2018 and 2017, our total liability for unrecognized tax benefits was $1.5 million, $1.9 million and $2.4 million, respectively, of which $1.4 million, $1.7 million and $2.2 million, respectively, would reduce our effective tax rate if we were successful in upholding all of the uncertain positions and recognized the amounts recorded. We classify interest and penalties recognized on the liability for unrecognized tax benefits as income tax expense. As of December 31, 2019, 2018 and 2017, the balances of accrued interest and penalties were $0.5 million, $0.7 million and $0.8 million, respectively.
We do not anticipate a single tax position generating a significant increase or decrease in our liability for unrecognized tax benefits within 12 months of this reporting date. We file income tax returns in the U.S. for federal and various state jurisdictions and several foreign jurisdictions. We are not currently under audit by the Internal Revenue Service. Generally, we are not subject to changes in income taxes by any taxing jurisdiction for the years prior to 2016.
Table:
(In thousands) | 2019 | 2018 | 2017
Balance at beginning of period | $1,868 | $2,366 | $2,226
Increases for tax position related to: |  |  | 
Prior years | — | 3 | 465
Current year | 161 | 254 | 285
Decreases for tax positions related to: |  |  | 
Prior years | (71) | — | (14)
Expiration of applicable statute of limitations | (471) | (755) | (596)
Balance at end of period | $1,487 | $1,868 | $2,366


Question: What is the  Balance at beginning of period for 2019?
Answer: $1,868
The majority of the Company's revenues are generated from U.S. government contracts, either as a prime contractor or as a subcontractor to other contractors. Revenues from the U.S. government can be adversely impacted by spending caps or changes in budgetary priorities of the U.S. government, as well as delays in program start dates or the award of a contract.
Disaggregated revenues by contract-type were as follows:
Table:
Year Ended January 3, 2020 |  |  |  | 
 | Defense Solutions | Civil | Health | Total
(in millions) |  |  |  | 
Cost-reimbursement and fixed-price-incentive-fee | $3,697 | $1,997 | $234 | $5,928
Firm-fixed-price | 1,203 | 1,075 | 1,296 | 3,574
Time-and-materials and fixed-price-level-of-effort | 466 | 564 | 444 | 1,474
Total | $5,366 | $3,636 | $1,974 | $10,976


Question: In which category was Cost-reimbursement and fixed-price-incentive-fee more than 1,000 million?
Answer: Defense Solutions, Civil
Calculation: locate and analyze Cost-reimbursement and fixed-price-incentive-fee in row 5
Fiscal 2018 Acquisitions
Allocation of the purchase consideration for acquisitions completed in fiscal 2018 is summarized as follows (in millions):
On July 31, 2017, we completed our acquisition of privately held Viptela Inc. (“Viptela”), a provider of software-defined wide area networking products. Revenue from the Viptela acquisition has been included in our Infrastructure Platforms product category.
On September 22, 2017, we completed our acquisition of privately held Springpath, Inc. (“Springpath”), a hyperconvergence software company. Revenue from the Springpath acquisition has been included in our Infrastructure Platforms product category.
On February 1, 2018, we completed our acquisition of publicly held BroadSoft, Inc. (“BroadSoft”), a cloud calling and contact center solutions company. Revenue from the BroadSoft acquisition has been included in our Applications product category.
On May 10, 2018, we completed our acquisition of privately held Accompany, a provider of an AI-driven relationship intelligence platform. Results from the Accompany acquisition has been included in our Applications product category.
The total purchase consideration related to our acquisitions completed during fiscal 2018 consisted of cash consideration and vested share-based awards assumed. The total cash and cash equivalents acquired from these acquisitions was approximately $187 million.
Table:
Fiscal 2018 | Purchase Consideration | Net Tangible Assets Acquired (Liabilities Assumed) | Purchased Intangible Assets | Goodwill
Viptela | $497 | $(18) | $180 | $335
Springpath | 248 | (11) | 160 | 99
BroadSoft | 2,179 | 353 | 430 | 1,396
Accompany | 222 | 6 | 55 | 161
Others (four in total) | 72 | 4 | 42 | 26
Total | $3,218 | $334 | $867 | $2,017


Question: What was the difference in Purchased Intangible Assets between Viptela and Springpath?
Answer: 20
Calculation: 180-160