hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
Sales-Type Leases
We are the lessor in sales-type lease arrangements for network equipment, which have initial terms of up to five years. Our sales-type lease arrangements contain either a provision whereby the network equipment reverts back to us upon the expiration of the lease or a provision that allows the lessee to purchase the network equipment at a bargain purchase amount at the end of the lease. In addition, our sales-type lease arrangements do not contain any residual value guarantees or material restrictive covenants. The allocation of the consideration between lease and nonlease components is determined by stand-alone selling price by component. The net investment in sales-type leases consists of lease receivables less unearned income. Collectability of sales-type leases is evaluated periodically at an individual customer level. The Company has elected to exclude taxes related to sales-type leases from revenue and the associated expense of such taxes. As of December 31, 2019 and 2018, we did not have an allowance for credit losses for our net investment in sales-type leases. As of December 31, 2019 and 2018, the components of the net investment in sales-type leases were as follows:
(1) Included in other receivables on the Consolidated Balance Sheet.
(2) Included in other assets on the Consolidated Balance Sheet.
Table:
(In thousands) | December 31, 2019 | December 31, 2018
Current minimum lease payments receivable(1) | $1,201 | $11,339
Non-current minimum lease payments receivable(2) | 889 | 1,670
Total minimum lease payments receivable | 2,090 | 13,009
Less: Current unearned revenue(1) | 365 | 631
Less: Non-current unearned revenue(2) | 163 | 473
Net investment in sales-type leases | $1,562 | $11,905


Question: What was the non-current minimum lease payments receivable in 2019?
Answer: $1,201
OFF-BALANCE SHEET ARRANGEMENTS AND CONTRACTUAL OBLIGATIONS
At June 30, 2019, the Company’s total off-balance sheet contractual obligations were $665,107. This balance consists of $71,633 of long-term operating leases for various facilities and equipment which expire from 2020 to 2030 and $593,474 of purchase commitments. In fiscal 2017, JHA entered a strategic services agreement with First Data® and PSCU® to provide full-service debit and credit card processing on a single platform to all existing core bank and credit union customers, as well as expand its card processing platform to financial institutions outside our core customer base. This agreement includes a purchase commitment of $555,754 over the remaining term of the contract. The remainder of the purchase commitments relate mainly to open purchase orders. The contractual obligations table below excludes $12,009 of liabilities for uncertain tax positions as we are unable to reasonably estimate the ultimate amount or timing of settlement.
The operating lease obligations included on this table will be recorded on the balance sheet beginning in fiscal 2020 due to the Company’s adoption of ASU No. 2016-02, issued by the FASB in February 2016 and effective for the Company on July 1, 2019.
Table:
Contractual obligations by period as of June 30, 2019 | Less than 1 year | 1-3 years | 3-5 years | More than 5 years | TOTAL
Operating lease obligations | $15,559 | $25,399 | $19,004 | $11,671 | $71,633
Purchase obligations | 62,637 | 86,875 | 107,188 | 336,774 | 593,474
Total | $78,196 | $112,274 | $126,192 | $348,445 | $665,107


Question: What is the total operating lease obligations?
Answer: $71,633
Unrecognized Tax Benefits
Current accounting guidance contains a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon ultimate settlement.
A reconciliation of the beginning and ending amounts of unrecognized tax benefits during fiscal 2019, 2018, and 2017 is as follows:
Included in the unrecognized tax benefits at fiscal 2019 and 2018 is $38.2 million and $36.7 million, respectively, that if recognized, would result in a reduction of our effective tax rate. The amounts differ from the long-term liability recorded of $20.1 million and $16.8 million as of fiscal 2019 and 2018, respectively, due to accrued interest and penalties, as well as unrecognized tax benefits of French and Italian entities that are recorded against deferred tax asset balances without valuation allowance.
We believe that events that could occur in the next 12 months and cause a change in unrecognized tax benefits include, but are not limited to, the following: • commencement, continuation or completion of examinations of our tax returns by the U.S. or foreign taxing authorities; and • expiration of statutes of limitation on our tax returns.
The calculation of unrecognized tax benefits involves dealing with uncertainties in the application of complex global tax regulations. Uncertainties include, but are not limited to, the impact of legislative, regulatory and judicial developments, transfer pricing and the application of withholding taxes. We regularly assess our tax positions in light of legislative, bilateral tax treaty, regulatory and judicial developments in the countries in which we do business. We determined that an estimate of the range of reasonably possible change in the amounts of unrecognized tax benefits within the next 12 months cannot be made.
Table:
 |  | Fiscal Year | 
(In thousands) | December 29, 2019 | December 30, 2018 | December 31, 2017
Balance, beginning of year | $103,884 | $105,959 | $82,253
Additions for tax positions related to the current year | 2,517 | 2,404 | 2,478
Additions for tax positions from prior years | 1,624 | 451 | 22,151
Reductions for tax positions from prior years/statute of limitations expirations | (416) | (2,468) | (1,460)
Foreign exchange (gain) loss | (668) | (2,462) | 537
Balance at the end of the period | $106,941 | $103,884 | $105,959


Question: What is the Balance, beginning of year for 2019?
Answer: 103,884
Under Article 35 of our Articles of Association, our financial year extends from January 1 to December 31, which is the period end of each fiscal year. In 2019, the first quarter ended on March 30, the second quarter ended on June 29, the third quarter ended on September 28 and the fourth quarter ended on December 31.
In 2020, the first quarter will end on March 28, the second quarter will end on June 27, the third quarter will end on September 26 and the fourth quarter will end on December 31.
Based on our fiscal calendar, the distribution of our revenues and expenses by quarter may be unbalanced due to a different number of days in the various quarters of the fiscal year and can also differ from equivalent prior years’ periods, as illustrated in the below table for the years 2018, 2019 and 2020.
Table:
 | Q1 | Q2 | Q3 | Q4
 | Days | Days | Days | Days
2018 | 90 | 91 | 91 | 93
2019 | 89 | 91 | 91 | 94
2020 | 88 | 91 | 91 | 96


Question: What is the increase/ (decrease) in Q4 days from 2018 to 2020?
Answer: 3
Calculation: 96-93
Note 11: Income Taxes
The provision for income tax expense (benefit) is as follows (amounts in thousands):
(1) Fiscal years ended March 31, 2018 and 2017 adjusted due to the adoption of ASC 606.
The Company realized a deferred tax expense (benefit) for fiscal years ended 2019, 2018 and 2017 of ($50.1) million, $0.6 million and $1.2 million, respectively, in U.S. and certain foreign jurisdictions based on changes in judgment about the realizability of deferred tax assets in future years.
Table:
 |  | Fiscal Years Ended March 31, | 
 | 2019 | 2018 | 2017
Current: |  |  | 
Federal | $170 | $223 | $—
State and local | 161 | 50 | 62
Foreign | 9,966 | 8,295 | 4,247
Total current income tax expense from continuing operations | 10,297 | 8,568 | 4,309
Deferred: |  |  | 
Federal | (43,804) | (807) | (6)
State and local | (773) | (96) | (97)
Foreign (1) | (5,180) | 1,467 | 88
Deferred tax expense (benefit) from continuing operations (1) | (49,757) | 564 | (15)
Provision for income tax expense (benefit) (1) | $(39,460) | $9,132 | $4,294


Question: What was the current State and Local income tax expense (benefit) in 2017?
Answer: 62
stock performance graph : the graph below shows the cumulative total shareholder return assuming the investment of $ 100 , on december 31 , 2010 , and the reinvestment of dividends thereafter , if any , in the company's common stock versus the standard and poor's s&p 500 retail index ( "s&p 500 retail index" ) and the standard and poor's s&p 500 index ( "s&p 500" ) . .

Table:
company/index | december 31 , 2010 | december 31 , 2011 | december 31 , 2012 | december 31 , 2013 | december 31 , 2014 | december 31 , 2015
o'reilly automotive inc . | $ 100 | $ 132 | $ 148 | $ 213 | $ 319 | $ 419
s&p 500 retail index | 100 | 103 | 128 | 185 | 203 | 252
s&p 500 | $ 100 | $ 100 | $ 113 | $ 147 | $ 164 | $ 163
.

Question: how much greater was the five year return for the s&p 500 retail index compared to the s&p 500?
Answer: 89
Calculation: subtract(252, 163)
Property and Equipment
Property and equipment are as follows (in thousands):
(1) In the fourth quarter 2019, the Company announced its decision to exit the San Jose California facility (“SJ Facility”) by March 31, 2020. The Company accelerated the amortization of its SJ Facility leasehold improvements over the remaining estimated life which is estimated to be through March 31, 2020. As of December 31, 2019, the net book value of the SJ Facility leasehold improvements was $0.9 million and will be fully amortized by March 31, 2020.
Table:
December 31, |  | 
 | 2019 | 2018
Computer equipment and purchased software | $3,011 | $3,167
Machinery and equipment | 699 | 821
Furniture and fixtures | 1,115 | 1,113
Leasehold improvements (1) | 3,897 | 3,897
Total | 8,722 | 8,998
Less accumulated depreciation and amortization (1) | (7,496) | (6,655)
Property and equipment, net | $1,226 | $2,343


Question: What was the change in the Property and equipment, net from 2018 to 2019?
Answer: -1117
Calculation: 1,226 - 2,343
Capital management
The following table summarises the capital of the Group at 31 March:
Note: 1 Financial liabilities under put option arrangements comprise liabilities for payments due to holders of the equity shares in Kabel Deutschland AG under the terms of a domination and profit and loss transfer agreement; the amounts at 31 March 2018 were previously presented within short-term borrowings
The Group’s policy is to borrow centrally using a mixture of long-term and short-term capital market issues and borrowing facilities to meet anticipated funding requirements. These borrowings, together with cash generated from operations, are loaned internally or contributed as equity to certain subsidiaries. The Board has approved three internal debt protection ratios being: net interest to operating cash flow (plus dividends from associates); retained cash flow (operating cash flow plus dividends from associates less interest, tax, dividends to non-controlling shareholders and equity dividends) to net debt; and operating cash flow (plus dividends from associates) to net debt. These internal ratios establish levels of debt that the Group should not exceed other than for relatively short periods of time and are shared with the Group’s debt rating agencies being Moody’s, Fitch Ratings and Standard & Poor’s.
Table:
 | 2019 | 2018
 | €m | €m
Net debt | 27,033 | 29,631
Financial liabilities under put option arrangements1 | 1,844 | 1,838
Equity | 63,445 | 68,607
Capital | 92,322 | 100,076


Question: Between 2018 and 2019, which year had a greater amount of capital?
Answer: 2018
Calculation: 100,076>92,322
FRT Term Loan
On October 25, 2019, we entered into a $23.4 million three-year credit facility loan agreement (the "FRT Term Loan") with HSBC Trinkaus & Burkhardt AG, Germany, to fund the acquisition of FRT GmbH, which we acquired on October 9, 2019. See Note 4 for further details of the acquisition.
The FRT Term Loan bears interest at a rate equal to the Euro Interbank Offered Rate ("EURIBOR") plus 1.75 % per annum and will be repaid in quarterly installments of approximately $1.9 million plus interest beginning January 25, 2020.
The obligations under the FRT Term Loan are fully and unconditionally guaranteed by FormFactor, Inc.
The Credit Facility contains negative covenants customary for financing of this type, including covenants that place limitations on the incurrence of additional indebtedness, the creation of liens, the payment of dividends; dispositions; fundamental changes, including mergers and acquisitions; loans and investments; sale leasebacks; negative pledges; transactions with affiliates; changes in fiscal year; sanctions and anti-bribery laws and regulations, and modifications to charter documents in a manner materially adverse to the Lenders.
The FRT Term Loan also contains affirmative covenants and representations and warranties customary for financing of this type.
Future principal and interest payments on our term loans as of December 28, 2019, based on the interest rate in effect at that date were as follows (in thousands):
(1) Represents our minimum interest payment commitments at 1.35% per annum for the FRT Term Loan and 3.71% per annum for the CMI Term Loan.
Table:
 |  | Payments Due In Fiscal Year |  | 
 | 2020 | 2021 | 2022 | Total
Term loans - principal payments | $42,838 | $7,838 | $7,838 | $58,514
Term loans - interest payments(1) | 777 | 155 | 47 | 979
Total | $43,615 | $7,993 | $7,885 | $59,493


Question: What was the Term loans - interest payments in 2020, 2021 and 2022 respectively?
Answer: 777, 155, 47
Contractual Obligations
Our contractual obligations as of December 31, 2019, were:
We have no off-balance sheet arrangements that have a material current effect or are reasonably likely to have a material future effect on our financial condition or changes in our financial condition.
Management believes that existing capital resources and funds generated from operations are sufficient to finance anticipated capital requirements.
Table:
 |  |  | Payments due by period |  | 
 | Total | 2020 | 2021-2022 | 2023-2024 | 2025-beyond
Long-term debt, including interest | $111,586 | $2,807 | $5,876 | $102,903 | $—
Operating lease payments | 37,610 | 4,467 | 8,764 | 7,813 | 16,566
Retirement obligations | 6,447 | 757 | 1,429 | 1,328 | 2,933
Total | $155,643 | $8,031 | $16,069 | $112,044 | $19,499


Question: What was the percentage change in the total contractual obligations due between 2020 and 2021-2022?
Answer: 100.09
Calculation: (16,069-8,031)/8,031
* Recast to conform to 2019 presentation.
** Reclassified to conform to 2019 presentation. Refer to “Basis of
Presentation” in note A, “Significant Accounting Policies,” for
additional information.
The following table presents external revenue for similar classes of products or services within the company’s reportable segments. Client solutions often include IBM software and systems and other suppliers’ products if the client solution requires it.
For each of the segments that include services, Software-as-a-Service, consulting, education, training and other product-related services are included as services. For each of these segments, software includes product license charges and ongoing subscriptions.
Table:
($ in millions) |  |  | 
For the year ended December 31: | 2019 | 2018 | 2017
Cloud & Cognitive Software* |  |  | 
Software | $18,712 | $17,970** | $17,681**
Services | 4,321 | 4,082** | 3,920**
Systems | 166 | 156 | 150
Global Business Services* |  |  | 
Services | $16,363 | $16,238** | $15,728**
Software | 156 | 151** | 179**
Systems | 115 | 206 | 165
Global Technology Services* |  |  | 
Services | $20,768 | $22,222** | $21,913**
Maintenance | 5,183 | 5,484 | 5,783
Systems | 1,072 | 1,069 | 1,207
Software | 338 | 371** | 310**
Systems |  |  | 
Servers | $ 3,746 | $ 3,996 | $ 3,993
Storage | 1,920 | 2,114 | 2,243
Software | 1,528 | 1,499** | 1,520**
Services | 410 | 425** | 438**
Global Financing |  |  | 
Financing | $ 1,120 | $ 1,223 | $ 1,167
Used equipment sales | 281 | 366 | 530


Question: What is the average of Used equipment sales?
Answer: 392.33
Calculation: (281+366+530) / 3
Results of Continuing Operations
The following table sets forth certain operational data as a percentage of net sales for the fiscal years indicated:
Table:
 |  | Year Ended March 31, | 
 | 2019 | 2018 | 2017
Net sales | 100.0% | 100.0% | 100.0%
Cost of sales | 45.2 | 39.2 | 48.4
Gross profit | 54.8 | 60.8 | 51.6
Research and development | 15.4 | 13.3 | 16.0
Selling, general and administrative | 12.8 | 11.4 | 14.7
Amortization of acquired intangible assets | 12.6 | 12.2 | 9.9
Special charges and other, net | 0.6 | 0.4 | 2.9
Operating income | 13.4% | 23.5% | 8.1%


Question: What was the percentage change in gross profit of net sales between 2017 and 2018?
Answer: 9.2
Calculation: 60.8-51.6
Provision for income taxes
We are a U.S.-based multinational company subject to tax in multiple U.S. and international tax jurisdictions. A substantial portion of our international earnings were generated from subsidiaries organized in Ireland and Singapore. Our results of operations would be adversely affected to the extent that our geographical mix of income becomes more weighted toward jurisdictions with higher tax rates and would be favorably affected to the extent the relative geographic mix shifts to lower tax jurisdictions. Any change in our mix of earnings is dependent upon many factors and is therefore difficult to predict.
The increase in our effective tax rate in fiscal 2019 compared to fiscal 2018 was primarily due to one-time benefits from the 2017 Tax Act in fiscal 2018. In addition, increases in tax expense in fiscal 2019 are attributable to the valuation allowance on capital losses for which we cannot yet recognize a tax benefit.
Table:
 | Fiscal Year | 
(In millions, except for percentages) | 2019 | 2018
Income from continuing operations before income taxes | $108 | $437
Provision for (benefit from) income taxes | $92 | $(690)
Effective tax rate on income from continuing operations | 85% | (158)%


Question: What is the Income from continuing operations before income taxes for Fiscal 2019?
Answer: $108
9. Derivative Financial Instruments
As a global company, we are exposed in the normal course of business to interest rate and foreign currency risks that could affect our financial position, results of operations, and cash flows. We use derivative instruments to hedge against these risks and only hold such instruments for hedging purposes, not for speculative or trading purposes.
Depending on the terms of the specific derivative instruments and market conditions, some of our derivative instruments may be assets and others liabilities at any particular balance sheet date. We report all of our derivative instruments at fair value and account for changes in the fair value of derivative instruments within “Accumulated other comprehensive loss” if the derivative instruments qualify for hedge accounting. For those derivative instruments that do not qualify for hedge accounting (i.e., “economic hedges”), we record the changes in fair value directly to earnings. See Note 11. “Fair Value Measurements” to our consolidated financial statements for information about the techniques we use to measure the fair value of our derivative instruments.
The following tables present the fair values of derivative instruments included in our consolidated balance sheets as of December 31, 2019 and 2018 (in thousands):
Table:
 |  | December 31, 2019 |  | 
 | Prepaid Expenses and Other Current Assets | Other Assets | Other Current Liabilities | Other Liabilities
Derivatives designated as hedging instruments:    |  |  |  | 
Foreign exchange forward contracts | $226 | $139 | $369 | $230
Total derivatives designated as hedging instruments | $226 | $139 | $369 | $230
Derivatives not designated as hedging instruments: |  |  |  | 
Foreign exchange forward contracts | $973 | $— | $1,807 | $—
Interest rate swap contracts . | — | — | 406 | 7,209
Total derivatives not designated as hedging instruments . | $973 | $— | $2,213 | $7,209
Total derivative instruments . | $1,199 | $139 | $2,582 | $7,439


Question: What is the difference in the foreign exchange forward contracts for hedging instruments between other assets and other liabilities?
Answer: -91
Calculation: 139-230
Gross Profit. Gross profit increased 15%, or $144.4 million, in 2019 compared to 2018, with gross margin increasing approximately 70 basis points to 14.7% of net sales. Our gross profit and gross profit as a percent of net sales by operating segment for 2019 and 2018 were as follows (dollars in thousands):
North America’s gross profit in 2019 increased 19% compared to 2018, and as a percentage of net sales, gross margin increased by approximately 80 basis points year over year. The year over year net increase in gross margin was primarily attributable to the following:
• A net increase in product margin, which includes partner funding and freight, of 30 basis points year over year. This increase was due primarily to improvements in hardware and software product margin partially as a result of improvements in core business margins on product net sales and also as a result of PCM.
• Services margin improvement year over year of 50 basis points was generated from increased vendor funding, cloud solution offerings and referral fees. In addition, there was a 21 basis point improvement in margins from Insight delivered services.
EMEA’s gross profit in 2019 increased 3% (increased 8% excluding the effects of fluctuating foreign currency exchange rates), compared to 2018. As a percentage of net sales, gross margin increased by approximately 40 basis points year over year.
APAC’s gross profit in 2019 increased 1% (increased 6% excluding the effects of fluctuating foreign currency exchange rates), compared to 2018, with gross margin increasing to 22.1% in 2019 from 21.2% in 2018. The improvement in gross margin for both EMEA and APAC in 2019 compared to 2018 was due primarily to changes in sales mix to higher margin products and services.
Table:
 | 2019 | % of Net
Sales | 2018 | % of Net Sales
NorthAmerica | $ 871,114 | 14.5% | $732,695 | 13.7%
EMEA | $227,083 | 14.9% | $221,467 | 14.5%
APAC | $39,901 | 22.1% | $39,556 | 21.2%
Consolidated | $1,138,098 | 14.7% | $993,718 | 14.0%


Question: How much did EMEA's Gross profit increased in 2019 compared to 2018?
Answer: 3%
The carrying amounts and fair values of Teradyne’s financial instruments at December 31, 2019 and 2018 were as follows:
(1) The carrying value represents the bifurcated debt component only, while the fair value is based on quoted market prices for the convertible note which includes the equity conversion features.
The fair values of accounts receivable, net and accounts payable approximate the carrying amount due to the short term nature of these instruments.
Table:
 | December 31, 2019 |  | December 31, 2018 | 
 | Carrying Value | Fair Value | Carrying Value | Fair Value
 |  | (in thousands) |  | 
Assets |  |  |  | 
Cash and cash equivalents | $773,924 | $773,924 | $926,752 | $926,752
Marketable securities | 241,793 | 241,793 | 277,827 | 277,827
Derivative assets | 528 | 528 | 79 | 79
Liabilities |  |  |  | 
Contingent consideration | 39,705 | 39,705 | 70,543 | 70,543
Derivative liabilities | 203 | 203 | 514 | 514
Convertible debt (1) | 394,687 | 1,010,275 | 379,981 | 547,113


Question: What do the fair values of accounts receivable, net and accounts payable approximate?
Answer: the carrying amount due to the short term nature of these instruments