hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
Employee Share Ownership Plan
UK employees are eligible to participate in the Employee Share Ownership Plan (ESOP). The aim of the ESOP is to encourage increased shareholding in the Company by all UK employees and so there are no performance conditions. Employees are invited to join the ESOP when an offer is made each year. Individuals save for 12 months during the accumulation period and subscribe for shares at the lower of the price at the beginning and the end of the accumulation period under HMRC rules. The Company provides a matching share for each share purchased by the individual.
Shares issued under the ESOP have been measured using the Present Economic Value (PEV) valuation methodology. The relevant disclosures in respect of the Employee Share Ownership Plans are set out below.
The accumulation period for the 2019 ESOP ends in September 2020, therefore some figures are projections.
Table:
 | 2015 Grant | 2016 Grant | 2017 Grant | 2018 Grant | 2019 Grant
Grant date | 1st October | 1st October | 1st October | 1st October | 1st October
Exercise price | 2,797.0p | 4,477.3p | 5,496.7p | 7,240.0p | 7,835.0p
Number of employees | 1,038 | 1,040 | 1,229 | 1,294 | 1,318
Shares under scheme | 34,449 | 22,173 | 22,411 | 16,687 | 16,820
Vesting period | 3 years | 3 years | 3 years | 3 years | 3 years
Expected volatility | 21% | 21% | 21% | 19% | 21%
Risk free interest rate | 0.4% | 0.1% | 0.4% | 0.8% | 0.5%
Expected dividend yield | 2.5% | 2.5% | 2.3% | 2.0% | 1.8%
Fair value | 2,931.3p | 4,696.7p | 5,799.0p | 7,623.7p | 8,305.1p


Question: When does the accumulation period for the 2019 ESOP end?
Answer: September 2020
Accumulated Other Comprehensive Loss-Recognition and Deferrals
The following table presents cumulative items not recognized as a component of net periodic benefits expense as of December 31, 2018, items recognized as a component of net periodic benefits expense in 2019, additional items deferred during 2019 and cumulative items not recognized as a component of net periodic benefits expense as of December 31, 2019. 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:
Table:
 |  |  | As of and for the Years Ended December 31, |  | 
 | 2018 | Recognition of Net Periodic Benefits Expense | Deferrals | Net Change in AOCL | 2019
 |  |  | (Dollars in millions) |  | 
Accumulated other comprehensive loss: |  |  |  |  | 
Pension plans: |  |  |  |  | 
Net actuarial (loss) gain | $(2,973) | 224 | (297) | (73) | (3,046)
Prior service benefit (cost) | 46 | (8) | 9 | 1 | 47
Deferred income tax benefit (expense) | 754 | (53) | 69 | 16 | 770
Total pension plans | (2,173) | 163 | (219) | (56) | (2,229)
Post-retirement benefit plans: |  |  |  |  | 
Net actuarial (loss) gain | 7 | — | (182) | (182) | (175)
Prior service (cost) benefit | (87) | 16 | — | 16 | (71)
Deferred income tax benefit (expense) | 22 | (4) | 44 | 40 | 62
Total post-retirement benefit plans | (58) | 12 | (138) | (126) | (184)
Total accumulated other comprehensive loss | $(2,231) | 175 | (357) | (182) | (2,413)


Question: Which year has a larger prior service benefit (cost) under pension plans?
Answer: 2019
Calculation: 46<47
Long-term obligations consist of the following (in thousands):
(1) Net of debt issuance costs of $6.4 million and $11.2 million at September 28, 2019 and September 29, 2018, respectively.
Table:
 | Fiscal year-end | 
 | 2019 | 2018
Euro Term Loan due 2024(1) | $385,208 | $411,661
1.3% Term loan due 2024 | 5,466 | 7,242
1.0% State of Connecticut term loan due 2023 | 1,028 | 1,406
Capital lease obligations | 536 | 402
Total long-term obligations | $392,238 | $420,711


Question: In which years was Total long-term obligations calculated?
Answer: 2019, 2018
5.3.4 HOOQ's share options - equity-settled arrangement
In December 2015, HOOQ Digital Pte. Ltd. (“HOOQ”), a 65%-owned subsidiary of the Company, implemented the HOOQ Digital Employee Share Option Scheme (the “Scheme”). Selected employees (including executive directors) of HOOQ and/or its subsidiaries are granted options to purchase ordinary shares of HOOQ.
Options are exercisable at a price no less than 100% of the fair value of the ordinary shares of HOOQ on the date of grant, and are scheduled to be fully vested 4 years from the vesting commencement date.
Options are exercisable at a price no less than 100% of the fair value of the ordinary shares of HOOQ on the date of grant, and are scheduled to be fully vested 4 years from the vesting commencement date.
The grant dates, exercise prices and fair values of the share options were as follows –
The term of each option granted is 10 years from the date of grant.
The fair values for the share options granted were estimated using the Black-Scholes pricing model.
From 1 April 2018 to 31 March 2019, options in respect of an aggregate of 9.6 million of ordinary shares in HOOQ have been granted. As at 31 March 2019, options in respect of an aggregate of 43.3 million of ordinary shares in HOOQ are outstanding.
Table:
Equity-settled | Exercise price | Fair Value at grant date
Date of grant | US$ | US$
16 May 2016 | 0.07 | 0.0445 to 0.0463
24 April 2017 | 0.07 | 0.0301 to 0.0315
2 May 2017 | 0.07 | 0.0292 to 0.0313
31 July 2017 | 0.07 | 0.0313 to 0.0315
8 September 2017 | 0.07 | 0.0296 to 0.0298
23 October 2017 | 0.07 | 0.0309 to 0.0320
10 January 2018 | 0.07 | 0.0316 to 0.0318
1 April 2018 | 0.07 | 0.0360 to 0.0366
1 July 2018 | 0.07 | 0.0368 to 0.0373
19 October 2018 | 0.07 | 0.0371 to 0.0374
31 January 2019 | 0.07 | 0.0367 to 0.0369


Question: What can the employees do with the granted options?
Answer: purchase ordinary shares of HOOQ
the following graph compares the cumulative 4-year total stockholder return on our common stock relative to the cumulative total return of the nasdaq composite index and the s&p 400 information technology index . the graph assumes that the value of the investment in our common stock and in each index ( including reinvestment of dividends ) was $ 100 on january 3 , 2009 and tracks it through december 29 , 2012 . comparison of 4 year cumulative total return* among cadence design systems , inc. , the nasdaq composite index , and s&p 400 information technology cadence design systems , inc . nasdaq composite s&p 400 information technology 12/29/121/1/11 12/31/111/2/101/3/09 *$ 100 invested on 1/3/09 in stock or 12/31/08 in index , including reinvestment of dividends . indexes calculated on month-end basis . copyright a9 2013 s&p , a division of the mcgraw-hill companies all rights reserved. .

Table:
 | 1/3/2009 | 1/2/2010 | 1/1/2011 | 12/31/2011 | 12/29/2012
cadence design systems inc . | 100.00 | 155.99 | 215.10 | 270.83 | 350.00
nasdaq composite | 100.00 | 139.32 | 164.84 | 167.06 | 187.66
s&p 400 information technology | 100.00 | 151.58 | 198.02 | 174.88 | 201.26
the stock price performance included in this graph is not necessarily indicative of future stock price performance. .

Question: what is the total return if $ 1000000 are invested in nasdaq composite in 2009 and sold in 2010?
Answer: 390000
Calculation: subtract(139.32, const_100), divide(#0, const_100), multiply(1000000, #1)
(1)  The bonus paid in 2019, 2018 and 2017 was approved by the compensation Committee and Supervisory Board with respect to the 2018, 2017 and 2016 financial year, respectively, based on the evaluation and assessment of the actual fulfillment of a number of pre-defined objectives for such year.
(2)  Including stock awards, employer social contributions, company car allowance, pension contributions, complementary pension contributions, miscellaneous allowances as well as one-off contractually obligated deferred compensation paid to Mr. Bozotti in 2019.
In accordance with the resolutions adopted at our AGM held on May 30, 2012, the bonus of our former President and Chief Executive Officer, Mr. Bozotti, in 2018 and 2017 included a portion of a bonus payable in stock awards and corresponding to 86,782 and 59,435 vested shares, respectively, based on fulfillment of a number of pre-defined objectives.
In addition, our sole member of our Managing Board, President and Chief Executive Officer, Mr. Chery, was granted, in accordance with the compensation policy adopted by our General Meeting of Shareholders and subsequent shareholder authorizations, up to 100,000 unvested Stock Awards. The vesting of such stock awards is conditional upon the sole member of our Managing Board, President and Chief Executive Officer’s, continued service with us.
(3) In 2019, the total compensation of the sole member of our Managing Board, President and Chief Executive Officer was 46% fixed to 54% variable, compared to 12% fixed to 88% variable in 2018 and 44% fixed to 56% variable in 2017.
Table:
 | 2019 | 2018 | 2017
Salary | $896,297 | $927,820 | $903,186
Bonus(1) | $1,280,173 | $3,214,578 | $1,044,514
Charges and Non-cash Benefits(2) | $5,618,382 | $6,971,946 | $1,828,814
Total(3) | $7,794,852 | $11,114,344 | $3,776,514


Question: What was the total compensation of the sole member of our Managing Board, President and Chief Executive Officer in 2019?
Answer: 46% fixed to 54% variable
14. DEFINED BENEFIT PLANS (Continued)
The information for plans with an accumulated benefit obligation in excess of plan assets is as follows (in thousands):
Table:
 | Fiscal year-end | 
 | 2019 | 2018
Projected benefit obligation | $60,437 | $51,499
Accumulated benefit obligation | 55,941 | 47,713
Fair value of plan assets | 12,997 | 12,486


Question: What was the Projected benefit obligation in 2019?
Answer: $60,437
18. Commitments
The Group leases various offices in locations such as Amsterdam, the Netherlands; the San Francisco Bay Area, California, New York, New York, Austin, Texas, and Boston, Massachusetts, United States; Sydney, Australia; Manila, the Philippines; Bengaluru, India; Yokohama, Japan; and Ankara, Turkey under non-cancellable operating leases expiring within one to nine years. The leases have varying terms, escalation clauses and renewal rights. On renewal, the terms of the leases are renegotiated. The Group incurred rent expense on its operating leases of $38.6 million, $23.6 million, and $12.2 million during the fiscal years ended 2019, 2018 and 2017, respectively.
Additionally, the Group has a contractual commitment for services with third-parties related to its cloud services platform and data centers. These commitments are non-cancellable and expire within two to four years.
Commitments for minimum lease payments in relation to non-cancellable operating leases and purchase obligations as of June 30, 2019 were as follows:
Table:
 | Operating Leases | Other Contractual Commitments | Total
 |  | (U.S. $ in thousands) | 
Fiscal Period: |  |  | 
Year ending 2020 | $38,790 | $108,978 | $147,768
Years ending 2021 - 2024 | 148,021 | 219,342 | 367,363
Thereafter | 144,037 | — | 144,037
Total commitments | $330,848 | $328,320 | 659,168


Question: What are the total commitments towards other contractual commitments?
Answer: $328,320
Fees Billed by Ernst & Young LLP
The table below shows the fees billed by EY for audit and other services provided to the Company in fiscal years 2019 and 2018.
Figure 48. FY2019/2018 Fees Billed by Ernst & Young LLP
(1) Audit Fees represent fees for professional services provided in connection with the audits of annual financial statements. Audit Fees also include reviews of quarterly financial statements, audit services related to other statutory or regulatory filings or engagements, and fees related to EY’s audit of the effectiveness of the Company’s internal control over financial reporting pursuant to section 404 of the Sarbanes-Oxley Act.
(2) Audit-Related Fees represent fees for assurance and related services that are reasonably related to the audit or review of the Company’s financial statements and are not reported above under “Audit Fees”. These fees principally include due diligence and accounting consultation fees in connection with our acquisition of Coventor, Inc. in 2018 and an information systems audit in 2019.
(3) Tax Fees represent fees for professional services for tax planning, tax compliance and review services related to foreign tax compliance and assistance with tax audits and appeals.
The audit committee reviewed summaries of the services provided by EY and the related fees during fiscal year 2019 and has determined that the provision of non-audit services was compatible with maintaining the independence of EY as the Company’s independent registered public accounting firm. The audit committee or its delegate approved 100% of the services and related fee amounts for services provided by EY during fiscal year 2019.
Table:
 | Fiscal Year 2019 ($) | Fiscal Year 2018 ($)
AuditFees(1) | 4,703,830 | 4,605,495
Audit-RelatedFees(2) | 27,000 | 90,500
TaxFees(3) | 194,170 | 34,888
AllOtherFees | — | —
TOTAL | 4,925,000 | 4,730,883


Question: What is the percentage change in the audit-related fees from 2018 to 2019?
Answer: -70.17
Calculation: (27,000-90,500)/90,500
Share-based payments expense for the period was $62,028,117 (2018: $57,710,434).
The variables in the table below are used as inputs into the model to determine the fair value of performance rights.
(1) Grant date represents the offer acceptance date.
(2) The expected volatility is based on the historical implied volatility calculated based on the weighted average remaining life of the performance rights adjusted for any expected changes to future volatility due to publicly available information.
Table:
 | 2019 | 2018
 | F19 LTI | F18 LTI
Grant date (1) | 30 Nov 2018 | 31 Oct 2017
Performance period start date | 1 Jul 2018 | 1 Jul 2017
Exercise date | 1 Jul 2021 | 1 Jul 2020
Expected volatility (2) | 15.0% | 16.0%
Expected dividend yield | 4.0% | 4.0%
Risk-free interest rate | 2.1% | 1.9%
Weighted average fair value at grant date | $24.63 | $20.23


Question: What is the change in expected dividend yield between 2018 and 2019?
Answer: 0
Calculation: 4.0% - 4.0%
7 Employee benefits
Pension plans
The Company is accounting for pension costs in accordance with International Accounting Standard 19.
The disclosures shown here are in respect of the Company’s defined benefit obligations. Other plans operated by the Company were defined contribution plans.
The total expense relating to the Company’s defined contribution pension plans in the current year was £0.7m (2018: £0.6m).
At 31st December 2019 the post-retirement mortality assumptions in respect of the Company Defined Benefit Scheme follows 85%/96% (male/female) of SAPS S2, CMI 2017 projections with a long term trend of 1.25% p.a. At 31st December 2018 the postretirement mortality assumptions in respect of the Company Defined Benefit Scheme follows 85% of SAPS S2 Light base table for males and 96% of SAPS S2 base table for females with CMI Core Projection Model 2016 improvements commencing in 2007, subject to a 1.25% p.a. long-term trend. These assumptions are regularly reviewed in light of scheme-specific experience and more widely available statistics.
The financial assumptions used at 31st December were:
The assumptions used by the actuary are the best estimates chosen from a range of possible actuarial assumptions, which due to the timescale covered, may not necessarily be borne out in practice.
Table:
 | Weighted-average assumptions used to define the benefit obligations | 
 | 2019 | 2018
 | % | %
Rate of increase in salaries | 2.4 | 2.7
Rate of increase in pensions | 2.8 | 2.9
Rate of price inflation | 2.9 | 3.2
Discount rate | 2.1 | 2.7


Question: What was the absolute percentage change in the discount rate from 2018 to 2019?
Answer: -0.6
Calculation: 2.1%-2.7%
CASH FLOW STATEMENT1
1 Abridged version. The complete version is shown in the consolidated financial statements.
Table:
€ million | 2017/18 | 2018/19
Cash flow from operating activities of continuing operations | 766 | 796
Cash flow from operating activities of discontinued operations | 139 | 157
Cash flow from operating activities | 905 | 953
Cash flow from investing activities of continuing operations | −292 | 46
Cash flow from investing activities of discontinued operations | −89 | −136
Cash flow from investing activities | −381 | −90
Cash flow before financing activities of continuing operations | 474 | 842
Cash flow before financing activities of discontinued operations | 50 | 21
Cash flow before financing activities | 524 | 863
Cash flow from financing activities of continuing operations | −587 | −1,122
Cash flow from financing activities of discontinued operations | −74 | −109
Cash flow from financing activities | −661 | −1,231
Total cash flows | −137 | −368
Currency effects on cash and cash equivalents | −30 | 17
Total change in cash and cash equivalents | −167 | −351


Question: In which year was the Cash flow from operating activities larger?
Answer: 2018/19
Calculation: 953>905
2016 Collective Bargaining Negotiations
During 2016, we adopted changes to our defined benefit pension plans and other postretirement benefit plans to reflect the agreed upon terms and conditions of the collective bargaining agreements ratified in June 2016. The impact includes a net increase to Accumulated other comprehensive income of $2.9 billion (net of taxes of $1.8 billion).
The amount recorded in Accumulated other comprehensive income will be reclassified to net periodic benefit cost on a straight-line basis over the average remaining service period of the respective plans’ participants, which, on a weighted-average basis, is 12.2 years for defined benefit pension plans and 7.8 years for other postretirement benefit plans.
The above-noted reclassification resulted in a decrease to net periodic benefit cost and increase to pre-tax income of approximately $658 million during 2019, 2018 and 2017, respectively. Information for pension plans with an accumulated benefit obligation in excess of plan assets follows:
Information for pension plans with an accumulated benefit obligation in excess of plan assets follows:
Table:
 |  | (dollars in millions)
At December 31, | 2019 | 2018
Projected benefit obligation | $ 21,190 | $ 19,510
Accumulated benefit obligation | 21,134 | 19,461
Fair value of plan assets | 19,388 | 17,757


Question: What was the average accumulated benefit obligation for 2018 and 2019?
Answer: 20297.5
Calculation: (21,134 + 19,461) / 2
Research and Development
Research and development expenses increased $124.3 million, or 53.9%, for the year ended December 31, 2019 compared to the same period in 2018, due to an increase of $114.4 million in employee-related costs ($45.1 million of which related to stock-based compensation and related payroll taxes), a $7.4 million increase in computer hardware and software costs, and a $2.5 million increase in professional services fees, all as a result of growth in our research and development employee base and expanded development programs.
Research and development expenses increased $94.7 million, or 69.6%, for the year ended December 31, 2018 compared to the same period in 2017, due to an increase of $89.6 million in employee-related costs, an increase of $3.1 million in computer hardware and software costs, and a $2.0 million increase in professional services fees, all as a result of growth in our research and development employee base and expanded development programs.
Table:
 | Years ended December 31, |  |  | 2019 vs 2018 | 2018 vs 2017
 | 2019 | 2018 | 2017 | % Change | % Change
 | (in thousands, except percentages) |  |  |  | 
Research and development | $ 355,015 | $ 230,674 | $ 135,997 | 53.9 % | 69.6 %
Percentage of total revenues | 22.5 % | 21.5 % | 20.2 % |  | 


Question: What is the average research and development expenses for 2017 and 2018?
Answer: 183335.5
Calculation: (230,674+135,997)/2
Our net sales by offering category for EMEA for 2019 and 2018, were as follows (dollars in thousands):
Net sales in EMEA remained flat (increased 5% excluding the effects of fluctuating foreign currency exchange rates), or down $3.6 million, in 2019 compared to 2018. Net sales of hardware declined 5%, year to year, while net sales of software and services were up 2% and 7%, respectively, year over year. The changes were the result of the following:
• Lower volume of net sales of networking solutions, partially offset by higher volume of net sales of devices, to large enterprise and public sector clients in hardware net sales. • Higher volume of software net sales to large enterprise and public sector clients.
• Higher volume of net sales of cloud solution offerings and increased software referral fees that are recorded on a net sales recognition basis. In addition, there was an increase in the volume of Insight delivered services.
Table:
 | EMEA |  | 
Sales Mix | 2019 | 2018 | %Change
Hardware | $622,949 | $653,499 | (5%)
Software | 753,729 | 736,509 | 2%
Services | 149,966 | 140,233 | 7%
 | $1,526,644 | $1,530,241 | —


Question: What was the net sales of services in 2019 and 2018 respectively?
Answer: 149,966, 140,233
12. Government grants
The following government grants are included within creditors:
A government grant has been received to accelerate and support research and development in the vulnerability of global navigation satellite systems.
Table:
 | 2019 | 2018
 | £ million | £ million
Current | 0.7 | 0.3
Non-current | 0.1 | 0.8
 | 0.8 | 1.1


Question: In which year was the amount of current government grants larger?
Answer: 2019
Calculation: 0.7>0.3
Revenue by Market The table below presents disaggregated net revenues by market (in thousands):
(1) Due to the adoption of ASC 606 on January 1, 2018 using the modified retrospective method, amounts prior to 2018 have not been adjusted to reflect the change to recognize certain distributor sales upon sale to the distributor, or the sell-in method, from recognition upon the Company's sale to the distributors' end customers, or the sellthrough method, which required the deferral of revenue and profit on such distributor sales.
Revenues from sales to the Company’s distributors accounted for 52%, 42% and 34% of net revenue for the years ended December 31, 2019, 2018 and 2017, respectively.
Table:
 |  | Year Ended December 31, | 
 | 2019 | 2018 | 2017(1)
Connected home | $152,674 | $207,336 | $288,610
% of net revenue | 48% | 54% | 69%
Infrastructure | 85,369 | 82,388 | 71,779
% of net revenue | 27% | 21% | 17%
Industrial and multi-market | 79,137 | 95,273 | 59,929
% of net revenue | 25% | 25% | 14%
Total net revenue | $317,180 | $384,997 | $420,318


Question: What was the average Infrastructure between 2017-2019?
Answer: 79845.33
Calculation: (85,369 + 82,388 + 71,779) / 3