hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
Results of Operations
Consolidated Results of Operations
The following tables present certain financial data for the periods indicated (dollars in millions):
Table:
 |  | Year ended December 31, | 
 | 2019 | 2018 | 2017
Revenues | $1,177.2 | $1,114.0 | $1,051.6
Expenses: |  |  | 
Operating expenses | 646.0 | 625.4 | 569.5
Depreciation and amortization | 236.2 | 217.0 | 206.5
Transition and integration costs | 5.4 | 6.6 | 13.1
Total expenses | 887.6 | 849.0 | 789.1
Operating income | 289.6 | 265.0 | 262.5
Operating margin | 24.6% | 23.8% | 25.0%
Interest expense, net | (63.5) | (51.7) | (57.5)
Other expense, net | (1.4) | (7.1) | (12.6)
Earnings before income taxes and equity in losses of unconsolidated affiliates | 224.7 | 206.2 | 192.4
Income tax expense (benefit) | 41.9 | 37.7 | (61.8)
Earnings before equity in losses of unconsolidated affiliates | 182.8 | 168.5 | 254.2
Equity in losses of unconsolidated affiliates, net of tax | (74.0) | — | —
Net earnings | $108.8 | $168.5 | $254.2
Earnings per share: |  |  | 
Net earnings per share attributable to Black Knight common shareholders: |  |  | 
Diluted | $0.73 | $1.14 | $1.47
Weighted average shares of common stock outstanding: |  |  | 
Diluted | 148.6 | 148.2 | 152.4


Question: What was the change in net earnings between 2018 and 2019?
Answer: -35.43
Calculation: (108.8-168.5)/168.5
2019 vs 2018
Net revenue in Connected Home segment decreased for the year ended December 31, 2019 compared to the prior year. Net revenue from service provider customers fell $27.8 million compared with the prior year. In addition, the North American home WiFi market contracted in fiscal 2019 affecting net revenue from non-service provider customers. The lower revenue was primarily due to declined net revenue of our home wireless, mobile and broadband modem and gateway products. Within home wireless, we experienced declines in net revenue from AC router products, WiFi mesh systems and extenders, partially offset by net revenue generated from the introduction of WiFi 6 routers. On a geographic basis, we experience net revenue declines across all three regions.
Contribution income decreased for the year ended December 31, 2019 compared to the prior year, primarily due to lower net revenue and lower gross margin attainment. Contribution margin decreased for the year ended December 31, 2019 compare to the prior year primarily due to higher product acquisition costs resulting from the burden of Section 301 tariffs and inefficiencies associated with commencing manufacturing in new locations, increased channel promotion activities and foreign exchange headwinds due to the strengthening of the U.S. dollar.
2018 vs 2017
2018 vs 2017 Connected Home segment net revenue increased for the year ended December 31, 2018 compared to the prior year. The increase in Connected Home net revenue was primarily due to home wireless and broadband modem and modem gateway products, partially offset by decreased net revenue from mobile products. The growth in home wireless was experienced across both service provider and non-service provider channels, while the increase in broadband and gateway related solely to non-service provider customers. In total, net revenue from service provider customers fell $33.5 million compared to the prior year period. Geographically, net revenue increased in Americas and EMEA, but decreased in APAC.
Contribution income increased for the year ended December 31, 2018 compared to the prior year, primarily due to higher net revenue and gross margin attainment, mainly due to favorable product mix and lower warranty expense, partially offset by higher operating expenses as a proportion of net revenue.
Table:
 |  |  | Year Ended December 31, |  | 
 | 2019 | % Change | 2018 | % Change | 2017
 |  |  | (in thousands, except percentage data) |  | 
Net revenue | $711,391 | (7.7)% | $771,060 | 0.4% | $768,261
Percentage of net revenue | 71.2% |  | 72.8% |  | 73.9%
Contribution income | $67,775 | (29.7)% | $96,340 | 14.9% | $83,870
Contribution margin | 9.5% |  | 12.5% |  | 10.9%


Question: What was the change in contribution income from 2018 to 2019?
Answer: -28565
Calculation: $67,775 - $96,340
NOTE 7. INVENTORIES
The following table details the components of inventories (in thousands).
Table:
 | December 31 | 
 | 2019 | 2018
Finished goods | $698 | $853
Raw materials | 90 | 3
Packaging | 110 | 102
Inventories | $ 898 | $ 958


Question: What are the respective values of packaging in 2018 and 2019?
Answer: 102, 110
ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (United States Dollars in thousands, except per share data and unless otherwise indicated)
Contractual Obligations
Our principal commitments consisted of obligations under our outstanding term loan and operating leases for office facilities. The following table summarizes our commitments to settle contractual obligations in cash as of December 31, 2019.
(1) The principal balance of the term loan is repaid on a quarterly basis at an amortization rate of 0.25% per quarter, with the balance due at maturity
(2) Variable interest payments on our term loan are calculated based on the interest rate as of December 31, 2019 and the scheduled maturity of the underlying term loan.
(3) Amounts presented reflect a quarterly commitment fee rate of 0.375% per annum, and assume that the entire $100 million revolving loan facility is unused (the conditions that existed as of period end) for the duration of the agreement, which matures on March 29, 2023.
(4) Our operating leases are for office space. Certain of these leases contain provisions for rent escalations and/or lease concessions. Rental payments, as well as any step rent provisions specified in the lease agreements, are aggregated and charged evenly to expense over the lease term. However, amounts included herein do not reflect this accounting treatment, as they represent the future contractual lease cash obligations.
The payments that we may be required to make under the TRA to the TRA Parties may be significant and are not reflected in the contractual obligations table set forth above. Refer to Part I, Item 1A "Risk Factors–Risks Related to Our Organizational Structure" and to Note 13 to the Notes to Consolidated Financial Statements in Item 8 for additional detail.
The payments that we may be required to make under the TRA to the TRA Parties may be significant and are not reflected in the contractual obligations table set forth above. Refer to Part I, Item 1A "Risk Factors–Risks Related to Our Organizational Structure" and to Note 13 to the Notes to Consolidated Financial Statements in Item 8 for additional detail.
Table:
 | Total | Less than 1 year | 1-3 years | 3-5 years | More than 5 years
Term loan(1) | $393,000 | $4,000 | $8,000 | $8,000 | $373,000
Interest payments on term loan(2) | 100,382 | 19,575 | 38,550 | 37,750 | 4,507
Revolving loan facility fees(3) | 1,310 | 375 | 750 | 185 | —
Operating leases(4) | 15,398 | 4,491 | 8,596 | 2,311 | —
Total contractual obligations | $510,090 | $28,441 | $55,896 | $48,246 | $377,507


Question: How was Interest payments on term loan calculated?
Answer: based on the interest rate as of December 31, 2019 and the scheduled maturity of the underlying term loan.
Uncertain Tax Positions
A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):
Out of $2.1 million of unrecognized tax benefits, there are no unrecognized tax benefits that would result in a change in the Company's effective tax rate if recognized in future years. The accrued interest and penalties related to uncertain tax positions was not significant for December 29, 2019, December 30, 2018 and December 31, 2017.
The Company is not currently under tax examination and the Company’s historical net operating loss and credit carryforwards may be adjusted bythe Internal Revenue Service, and other tax authorities until the statute closes on the year in which such tax attributes are utilized. The Company estimates that its unrecognized tax benefits will not change significantly within the next twelve months.
The Company is subject to U.S. federal income tax as well as income taxes in many U.S. states and foreign jurisdictions in which the Company operates. The U.S. tax years from 1999 forward remain effectively open to examination due to the carryover of unused net operating losses and tax credits.
Table:
 | December 29, 2019 | December 30,2018 | December 31, 2017
Beginning balance of unrecognized tax benefits | $2,161 | $2,107 | $2,014
Additions for tax positions related to the prior year | (46) | (2) | 16
Additions for tax positions related to the current year | 88 | 125 | 77
Lapse of statutes of limitations | (86) | (69) | —
Ending balance of unrecognized tax benefits | $2,117 | $2,161 | $2,107


Question: What are the respective beginning balance of unrecognized tax benefits in 2018 and 2019?
Answer: $2,107, $2,161
Property and equipment, net (in millions):
In September 2017, we entered into an agreement to sell certain land and buildings located in Sunnyvale, California, with a book value of $118 million, for a total of $306 million, through two separate and independent closings. Upon the completion of the first closing in fiscal 2018, we consummated the sale of properties with a net book value of $66 million for cash proceeds of $210 million, resulting in a gain, net of direct selling costs, of $142 million. The remaining properties, consisting of land with a net book value of $52 million, were classified as assets held-for-sale, and included as other current assets in our consolidated balance sheets as of April 26, 2019 and April 27, 2018. We will consummate the sale of these properties, and receive cash proceeds of $96 million, upon the completion of the second closing, which is expected to occur within the next 12 months. That closing is subject to due diligence, certain termination rights and customary closing conditions, including local governmental approval of the subdivision of a land parcel.
Table:
 | April 26, 2019 | April 27, 2018
Land | $ 106 | $ 106
Buildings and improvements | 605 | 594
Leasehold improvements | 86 | 88
Computer, production, engineering and other equipment | 817 | 733
Computer software | 357 | 357
Furniture and fixtures | 105 | 99
Construction-in-progress | 10 | 27
 | 2,086 | 2,004
Accumulated depreciation and amortization | (1,327 ) | (1,248 )
Property and equipment, net | $ 759 | $ 756


Question: What was the amount of buildings and improvements in 2019?
Answer: 605
The fair value of plan assets, summarized by level within the fair value hierarchy described in Note 20, as of May 27, 2018, was as follows:
Level 1 assets are valued based on quoted prices in active markets for identical securities. The majority of the Level 1 assets listed above include the common stock of both U.S. and international companies, mutual funds, master limited partnership units, and real estate investment trusts, all of which are actively traded and priced in the market.
Level 2 assets are valued based on other significant observable inputs including quoted prices for similar securities, yield curves, indices, etc. Level 2 assets consist primarily of individual fixed income securities where values are based on quoted prices of similar securities and observable market data.
Level 3 assets consist of investments where active market pricing is not readily available and, as such, fair value is estimated using significant unobservable inputs.
Certain assets that are measured at fair value using the NAV (net asset value) per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. Such investments are generally considered long-term in nature with varying redemption availability. For certain of these investments, with a fair value of approximately $51.0 million as of May 26, 2019, the asset managers have the ability to impose customary redemption gates which may further restrict or limit the redemption of invested funds therein. As of May 26, 2019, funds with a fair value of $4.2 million have imposed such gates.
As of May 26, 2019, we have unfunded commitments for additional investments of $48.3 million in private equity funds and $17.0 million in natural resources funds. We expect unfunded commitments to be funded from plan assets rather than the general assets of the Company.
Notes to Consolidated Financial Statements - (Continued) Fiscal Years Ended May 26, 2019, May 27, 2018, and May 28, 2017 (columnar dollars in millions except per share amounts)
Table:
 | Level 1 | Level 2 | Level 3 | Total
Cash and cash equivalents | $1.0 | $65.0 | $— | $66.0
Equity securities: |  |  |  | 
U.S. equity securities | 319.8 | 124.0 | — | 443.8
International equity securities | 256.5 | 1.0 | — | 257.5
Fixed income securities: |  |  |  | 
Government bonds | — | 1,854.8 | — | 1,854.8
Corporate bonds | — | 4.7 | — | 4.7
Mortgage-backed bonds | — | 9.3 | — | 9.3
Real estate funds | 7.7 | — | — | 7.7
Master limited partnerships | 0.4 | — | — | 0.4
Net receivables for unsettled transactions | 10.9 | — | — | 10.9
Fair value measurement of pension plan assets in the fair value hierarchy | $596.3 | $2,058.8 | $— | $2,655.1
Investments measured at net asset value |  |  |  | 700.0
Total pension plan assets |  |  |  | $3,355.1


Question: What is the proportion of equity securities over the total fair value measurement of pension plan assets of Level 1 assets?
Answer: 0.97
Calculation: (319.8+256.5)/596.3
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (in thousands, except for share and per share data)
NOTE 18 — Income Taxes
Significant components of income tax provision/(benefit) are as follows:
Table:
 |  | Years Ended December 31, | 
 | 2019 | 2018 | 2017
Current: |  |  | 
U.S. | $(391) | $(397) | $1,635
Non-U.S. | 10,666 | 12,538 | 7,150
Total Current | 10,275 | 12,141 | 8,785
Deferred: |  |  | 
U.S. | 558 | (330) | 17,597
Non-U.S. | 3,287 | (240) | (577)
Total Deferred | 3,845 | (570) | 17,020
Total provision for income taxes | $14,120 | $11,571 | $25,805


Question: What was the change in the total current income tax provision  between 2017 and 2018?
Answer: 3356
Calculation: 12,141-8,785
entergy corporation and subsidiaries notes to financial statements ferc audit report , system energy initially recorded as a net regulatory asset the difference between the recovery of the lease payments and the amounts expensed for interest and depreciation and continues to record this difference as a regulatory asset or liability on an ongoing basis , resulting in a zero net balance for the regulatory asset at the end of the lease term . the amount was a net regulatory asset ( liability ) of ( $ 2.0 ) million and $ 60.6 million as of december 31 , 2011 and 2010 , respectively . as of december 31 , 2011 , system energy had future minimum lease payments ( reflecting an implicit rate of 5.13% ( 5.13 % ) ) , which are recorded as long-term debt as follows : amount ( in thousands ) .

Table:
 | amount ( in thousands )
2012 | $ 49959
2013 | 50546
2014 | 51637
2015 | 52253
2016 | -
years thereafter | -
total | 204395
less : amount representing interest | 25611
present value of net minimum lease payments | $ 178784
.

Question: what portion of the future minimum lease payments is expected to be paid within the next 12 months?
Answer: 24.4%
Calculation: divide(49959, 204395)
2. Inventories
Inventories as of September 28, 2019 and September 29, 2018 consisted of the following (in thousands):
In certain circumstances, per contractual terms, customer deposits are received by the Company to offset obsolete and excess inventory risks. The total amount of customer deposits related to inventory and included within current liabilities on the accompanying Consolidated Balance Sheets as of September 28, 2019 and September 29, 2018 was $136.5 million and $87.7 million, respectively.
In fiscal 2019, the Company adopted and applied Topic 606 to all contracts using the modified retrospective method of adoption. The prior year comparative information has not been restated and continues to be reported under the accounting standards in effect for fiscal 2018. Refer to Note 15, "Revenue from Contracts with Customers," for further information.
Table:
 | 2019 | 2018
Raw materials | $577,545 | $579,377
Work-in-process  | 49,315 | 102,337
Finished goods  | 74,078 | 112,632
Total inventories, net | $700,938 | $794,346


Question: What was the percentage change in the work-in-process between 2018 and 2019?
Answer: -51.81
Calculation: (49,315-102,337)/102,337
entergy corporation and subsidiaries notes to financial statements computed on a rolling 12 month basis . as of december 31 , 2008 , entergy louisiana was in compliance with these provisions . as of december 31 , 2008 , entergy louisiana had future minimum lease payments ( reflecting an overall implicit rate of 7.45% ( 7.45 % ) ) in connection with the waterford 3 sale and leaseback transactions , which are recorded as long-term debt , as follows : amount ( in thousands ) .

Table:
 | amount ( in thousands )
2009 | $ 32452
2010 | 35138
2011 | 50421
2012 | 39067
2013 | 26301
years thereafter | 137858
total | 321237
less : amount representing interest | 73512
present value of net minimum lease payments | $ 247725
grand gulf lease obligations in december 1988 , in two separate but substantially identical transactions , system energy sold and leased back undivided ownership interests in grand gulf for the aggregate sum of $ 500 million .
the interests represent approximately 11.5% ( 11.5 % ) of grand gulf .
the leases expire in 2015 .
under certain circumstances , system entergy may repurchase the leased interests prior to the end of the term of the leases .
at the end of the lease terms , system energy has the option to repurchase the leased interests in grand gulf at fair market value or to renew the leases for either fair market value or , under certain conditions , a fixed rate .
in may 2004 , system energy caused the grand gulf lessors to refinance the outstanding bonds that they had issued to finance the purchase of their undivided interest in grand gulf .
the refinancing is at a lower interest rate , and system energy's lease payments have been reduced to reflect the lower interest costs .
system energy is required to report the sale-leaseback as a financing transaction in its financial statements .
for financial reporting purposes , system energy expenses the interest portion of the lease obligation and the plant depreciation .
however , operating revenues include the recovery of the lease payments because the transactions are accounted for as a sale and leaseback for ratemaking purposes .
consistent with a recommendation contained in a ferc audit report , system energy initially recorded as a net regulatory asset the difference between the recovery of the lease payments and the amounts expensed for interest and depreciation and continues to record this difference as a regulatory asset or liability on an ongoing basis , resulting in a zero net balance for the regulatory asset at the end of the lease term .
the amount of this net regulatory asset was $ 19.2 million and $ 36.6 million as of december 31 , 2008 and 2007 , respectively. .

Question: what portion of the future minimum lease payments for entergy louisiana will be used for interest payments?
Answer: 22.9%
Calculation: divide(73512, 321237)
The Company maintains liabilities for uncertain tax positions. These liabilities involve considerable judgment and estimation and are continuously monitored by management based on the best information available, including changes in tax regulations, the outcome of relevant court cases, and other information. A reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows (in thousands):
The unrecognized tax benefits relate primarily to federal and state research and development credits and intercompany profit on the transfer of certain IP rights to one of the Company’s foreign subsidiaries as part of the Company’s tax reorganization completed in 2015. The Company’s policy is to account for interest and penalties related to uncertain tax positions as a component of income tax expense. As of December 31, 2019, the Company accrued interest or penalties related to uncertain tax positions in the amount of $25,000. As of December 31, 2019, the total amount of unrecognized tax benefits that would affect the Company’s effective tax rate, if recognized, is $97,000.
Because the Company has net operating loss and credit carryforwards, there are open statutes of limitations in which federal, state and foreign taxing authorities may examine the Company’s tax returns for all years from 2000 through the current period.
Table:
 |  | Years Ended December 31, | 
 | 2019 | 2018 | 2017
Balance at beginning of year | $4,611 | $4,672 | $6,232
Gross increases for tax positions of prior years | 394 | — | —
Gross decreases for federal tax rate change for tax positions of prior years | — | — | (1,670)
Gross increases for tax positions of current year | 34 | 45 | 110
Lapse of statute of limitations | (213) | (106) | —
Balance at end of year | $4,826 | 4,611 | 4,672


Question: What was the Gross increases for tax positions of prior years in 2019, 2018 and 2017?
Answer: 394, 0, 0
NAVIOS MARITIME HOLDINGS INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Expressed in thousands of U.S. dollars — except share data)
NOTE 18: INTEREST EXPENSE AND FINANCE COST
Interest expense and finance cost consisted of the following:
Table:
 | For the Year Ended December 31, 2019 | For the Year Ended December 31, 2018 | For the Year Ended December 31, 2017
Interest expense | $125,496 | $129,941 | $115,099
Amortization and write-off of deferred financing costs | 7,746 | 7,866 | 6,391
Other | 237 | 109 | 121
Interest expense and finance cost | $133,479 | $137,916 | $121,611


Question: What was the Amortization and write-off of deferred financing costs in 2019?
Answer: 7,746