hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
GreenSky, Inc. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued) (United States Dollars in thousands, except per share data, unless otherwise stated)
Note 18. Quarterly Consolidated Results of Operations Data (Unaudited)
The following table sets forth our quarterly consolidated results of operations data for each of the eight quarters in the period ended December 31, 2019. GS Holdings is our predecessor for accounting purposes and, accordingly, amounts prior to the Reorganization Transactions and IPO represent the historical consolidated operations of GS Holdings and its subsidiaries. The amounts during the period from May 24, 2018 through December 31, 2018 represent those of consolidated GreenSky, Inc. and its subsidiaries. Basic and diluted earnings per share of Class A common stock is applicable only for the period from May 24, 2018 through December 31, 2018, which is the period following the Reorganization Transactions and IPO. Prior to the Reorganization Transactions and IPO, GreenSky, Inc. did not engage in any business or other activities except in connection with its formation and initial capitalization. See Note 1 for further information on our organization and see Note 2 for further information on our earnings per share.
(1) Year-to-date results may not agree to the sum of individual quarterly results due to rounding.
Table:
 |  |  | Year Ended December 31, 2018 |  | 
 | First
Quarter | Second
Quarter | Third Quarter | Fourth
Quarter | Total
Total revenue | $85,326 | $105,704 | $113,912 | $109,731 | $414,673
Cost of revenue (exclusive of depreciation
and amortization) | 36,130 | 33,765 | 35,374 | 55,170 | 160,439
Total costs and expenses | 61,749 | 58,896 | 59,655 | 81,583 | 261,883
Operating profit | 23,577 | 46,808 | 54,257 | 28,148 | 152,790
Total other income (expense), net | (4,973) | (4,398) | (5,170) | (4,735) | (19,276)
Income before income tax expense (benefit) | 18,604 | 42,410 | 49,087 | 23,413 | 133,514
Net income | 18,604 | 40,816 | 45,712 | 22,848 | 127,980
Less: Net income attributable to
noncontrolling interests | 18,604 | 35,266 | 33,711 | 16,143 | 103,724
Net income attributable to GreenSky, Inc. | N/A | 5,550 | 12,001 | 6,705 | 24,256
Earnings per share of Class A common stock: |  |  |  |  | 
Basic | N/A | $0.10 | $0.21 | $0.12 | $0.43
Diluted(1) | N/A | $0.09 | $0.20 | $0.11 | $0.41


Question: What was the total costs and expenses?
Answer: 261,883
AMERICAN TOWER CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Tabular amounts in millions, unless otherwise disclosed)
Information about receivables, contract assets and contract liabilities from contracts with tenants is as follows:
(1) Prior-period amounts adjusted with the adoption of the new lease accounting guidance, as applicable.
(2) Excludes $56.7 million and $55.0 million of capital contributions related to DAS networks as of December 31, 2019 and 2018, respectively.
(3) Excludes $300.2 million and $313.6 million of capital contributions related to DAS networks as of December 31, 2019 and 2018, respectively.
The Company records unearned revenue when payments are received from tenants in advance of the completion of the Company’s performance obligations. Long-term unearned revenue is included in Other non-current liabilities. During the year ended December 31, 2019, the Company recognized $62.2 million of revenue that was included in the Unearned revenue balance as of December 31, 2018. During the year ended December 31, 2018, the Company recognized $44.4 million of revenue that was included in the Unearned revenue balance as of January 1, 2018. The Company also recognized revenues of $59.2 million and $55.4 million during the years ended December 31, 2019 and December 31, 2018, respectively, for capital contributions related to DAS networks. There was $0.4 million of revenue recognized from Other non-current liabilities during each of the years ended December 31, 2019 and 2018. $59.2 million and $55.4 million during the years ended December 31, 2019 and December 31, 2018, respectively, for capital contributions related to DAS networks. There was $0.4 million of revenue recognized from Other non-current liabilities during each of the years ended December 31, 2019 and 2018.
$59.2 million and $55.4 million during the years ended December 31, 2019 and December 31, 2018, respectively, for capital
contributions related to DAS networks. There was $0.4 million of revenue recognized from Other non-current liabilities during
each of the years ended December 31, 2019 and 2018.
Table:
 | December 31, 2019 | December 31, 2018 (1)
Accounts receivable | $80.5 | $92.6
Prepaids and other current assets | 8.3 | 7.7
Notes receivable and other non-current assets | 21.3 | 22.2
Unearned revenue (2) | 35.0 | 35.0
Other non-current liabilities (3) | 79.0 | 54.1


Question: What was the percentage change in Accounts receivable between 2018 and 2019?
Answer: -13.07
Calculation: ($80.5-$92.6)/$92.6
The Company had gross unrecognized tax benefits of $15.7 million and $3.0 million, as of June 30, 2019 and June 30, 2018, respectively. The Company recognizes interest and penalties related to uncertain tax positions in income tax expense.
The Company files income tax returns in various federal, state, and local jurisdictions including the United States, Canada, United Kingdom and France. In the normal course of business, the Company is subject to examination by taxing authorities throughout the world. With few exceptions, the Company is no longer subject to income tax examinations by tax authorities in major tax jurisdictions for years before 2014.
Table:
 | June 30, | 
 | 2019 | 2018
 | in millions) | 
Balance at beginning of year | $3.0 | $0.2
Additions for current year tax positions | 1.5 | 1.2
Additions for prior year tax positions | 11.5 | 1.7
Reductions as a result of settlement with tax authority | (0.3) | (0.1)
Balance at end of year | $15.7 | $3.0
Interest and penalties included in balance | $2.2 | $0.1
Amount, if recognized, would impact the effective income tax rate | 10.0 | 1.8
Amount that could be settled within the next year | 10.0 | 1.9


Question: Which years is the company no longer subject to income tax examinations by tax authorities in major tax jurisdictions?
Answer: for years before 2014
Interest expense, net includes the stated interest rate on our outstanding debt, as well as the net impact of capitalized interest, interest income, the effects of terminated interest rate swaps and the amortization of capitalized senior debt issuance costs and credit facility fees, bond discounts, and terminated treasury locks.
Interest expense, net for the years ended December 31, was as follows:
(1) We repaid the notes upon maturity in July 2017.
(2) On August 1, 2019, Sealed Air Corporation, on behalf of itself and certain of its subsidiaries, and Sealed Air Corporation (US) entered into an amendment to its existing senior secured credit facility with Bank of America, N.A., as agent, and the other financial institutions party thereto. The amendment provided for a new incremental term facility in an aggregate principal amount of up to $475 million, to be used, in part, to finance the acquisition of Automated. See Note 14, "Debt and Credit Facilities," of the Notes to Consolidated Financial Statements for further details.
(3) On July 12, 2018, the Company and certain of its subsidiaries entered into a third amended and restated credit agreement with respect to its existing senior secured credit facility. See Note 14, “Debt and Credit Facilities,” of the Notes to Consolidated Financial Statements for further details.
(4) In November 2019, the Company issued $425 million of 4.00% Senior Notes due 2027 and used the proceeds to retire the existing $425 million of 6.50% Senior Notes due 2020. See Note 14, "Debt and Credit Facilities," of the Notes to Consolidated Financial Statements for further details.
Table:
 |  | Year Ended December 31, |  | 2019 vs. 2018 | 2018 vs. 2017
(In millions) | 2019 | 2018 | 2017 | Change | Change
Interest expense on our various debt instruments: |  |  |  |  | 
Term Loan A due July 2017(1) | $ — | $ — | $ 3.6 | $ — | $ (3.6)
Term Loan A due July 2022(2) | 6.8 | — | — | 6.8 | —
Term Loan A due July 2023(3) | 8.5 | 8.9 | 18.6 | (0.4) | (9.7)
Revolving credit facility due July 2023(3) | 1.4 | 1.9 | 2.4 | (0.5) | (0.5)
6.50% Senior Notes due December 2020(4) | 25.4 | 28.1 | 28.1 | (2.7) | —
4.875% Senior Notes due December 2022 | 21.5 | 21.5 | 21.5 | — | —
5.25% Senior Notes due April 2023 | 23.1 | 23.1 | 23.0 | — | 0.1
4.50% Senior Notes due September 2023 | 20.7 | 21.8 | 21.0 | (1.1) | 0.8
5.125% Senior Notes due December 2024 | 22.4 | 22.4 | 22.3 | — | 0.1
5.50% Senior Notes due September 2025 | 22.4 | 22.4 | 22.3 | — | 0.1
4.00% Senior Notes due December 2027(4) | 1.7 | — | — | 1.7 | —
6.875% Senior Notes due July 2033 | 31.1 | 31.0 | 31.0 | 0.1 | —
Other interest expense | 19.4 | 18.2 | 18.3 | 1.2 | (0.1)
Less: capitalized interest | (8.4) | (6.3) | (10.3) | (2.1) | 4.0
Less: interest income | (11.9) | (15.1) | (17.6) | 3.2 | 2.5
Total | $ 184.1 | $ 177.9 | $ 184.2 | $ 6.2 | $ (6.3)


Question: What is the change of the percentage change of Total interest expense from 2018 vs. 2017 to 2019 vs. 2018?
Answer: 6.91
Calculation: (184.1-177.9)/177.9-(177.9-184.2)/184.2
REVENUE
(1) For the three-month period ended August 31, 2019, the average foreign exchange rate used for translation was 1.3222 USD/CDN.
(2) Fiscal 2018 was restated to comply with IFRS 15 and to reflect a change in accounting policy as well as to reclassify results from Cogeco Peer 1 as discontinued operations. For further details, please consult the "Accounting policies" and "Discontinued operations" sections.
(3) Fiscal 2019 actuals are translated at the average foreign exchange rate of the comparable period of fiscal 2018 which was 1.3100 USD/CDN.
Fiscal 2019 fourth-quarter revenue increased by 3.1% (2.7% in constant currency) resulting from: • growth in the American broadband services segment mainly due to strong organic growth and the FiberLight acquisition. • stable revenue in the Canadian broadband services segment mainly as a result of: ◦ rate increases; partly offset by ◦ decreases in video and telephony services customers compared to the same period of the prior year primarily due to issues resulting from the implementation of a new customer management system in the second half of fiscal 2018.
Table:
Three months ended August 31, | 2019 (1) | 2018 (2) | Change | Change in constant currency (3) | Foreign exchange impact (3)
(in thousands of dollars, except percentages) | $ | $ | % | % | $ $
Canadian broadband services | 319,935 | 319,741 | 0.1 | 0.1 | -
American broadband services | 263,738 | 246,443 | 7.0 | 6.0 | 2,427
 | 583,673 | 566,184 | 3.1 | 2.7 | 2,427


Question: What was the exchange rate in 2019?
Answer: 1.3222 USD/CDN.
Item 6. Selected Financial Data
You should read the following selected consolidated financial data in conjunction with Part II, Item 7, "Management's Discussion and Analysis of Financial Condition and Results of Operations," and our consolidated financial statements and the related notes included in Part II, Item 8, "Financial Statements and Supplementary Data" of this Annual Report on Form 10-K.
The consolidated statements of income data for each of the years ended December 31, 2019, 2018, and 2017 and the consolidated balance sheets data as of December 31, 2019 and 2018 are derived from our audited consolidated financial statements included in Part II, Item 8, "Financial Statements and Supplementary Data" of this Annual Report on Form 10-K. The consolidated statements of income data for the years ended December 31, 2016 and 2015 and the consolidated balance sheets data as of December 31, 2017, 2016, and 2015 are derived from our audited consolidated financial statements, except as otherwise noted, that are not included in this Annual Report on Form 10-K. Our historical results are not necessarily indicative of our results in any future period.
(1) Total costs and expenses include 4,840 million, 4,150 million, 3,720 million, 3,220 million, and 2,970 million of share-based compensation for the years ended December 31, 2019, 2018, 2017, 2016, and 2015, respectively.
Table:
 |  |  | Year Ended December 31, |  | 
 | 2019 | 2018 | 2017 | 2016 | 2015
 |  |  | (in millions, except per share data) |  | 
Consolidated Statements of Income Data: |  |  |  |  | 
Revenue | $70,697 | $55,838 | $40,653 | $27,638 | $17,928
Total costs and expenses(1) | $46,711 | $30,925 | $20,450 | $15,211 | $11,703
Income from operations | $23,986 | $24,913 | $20,203 | $12,427 | $6,225
Income before provision for income taxes | $24,812 | $25,361 | $20,594 | $12,518 | $6,194
Net income | $18,485 | $22,112 | $15,934 | $10,217 | $3,688
Net income attributable to Class A and Class B common stockholders | $18,485 | $22,111 | $15,920 | $10,188 | $3,669
Earnings per share attributable to Class A and Class B common stockholders: |  |  |  |  | 
Basic | $6.48 | $7.65 | $5.49 | $3.56 | $1.31
Diluted | $6.43 | $7.57 | $5.39 | $3.49 | $1.29


Question: What is the Net income for 2019 and 2018 respectively?
Answer: $18,485, $22,112
Deferred Revenue
The following table summarizes contract liabilities which are shown as deferred revenue (in thousands):
Total deferred revenue increased primarily due to the extended duration period of new maintenance contracts during fiscal year 2019.
Table:
 | June 30,
2019 | June 30,
2018
Deferred maintenance | $192,955 | $164,986
Other deferred revenue   | 10,287 | 9,539
Total deferred revenue, net   | 203,242 | 174,525
Less: current portion   | 144,230 | 130,865
Non-current deferred revenue, net | $59,012 | $43,660


Question: What was the net total deferred revenue in 2019?
Answer: 203,242
Results of Operations
The following table sets forth, as a percentage of total revenues, the results from our operations for the periods indicated.
Table:
 | 2019 | 2018
Revenues | 100.0% | 100.0%
Cost of revenues | 10.6 | 11.0
Gross profit | 89.4 | 89.0
Operating expenses: |  | 
Sales and marketing | 54.2 | 52.6
Product development | 6.2 | 8.1
General and administrative | 20.5 | 20.9
Total operating expenses | 80.9 | 81.6
Income from operations | 8.5 | 7.4
Other income (loss), net | (0.5) | —
Income before income taxes | 8.0 | 7.4
Income tax expense | 4.3 | 3.2
Net income | 3.7% | 4.2%


Question: What is the gross profit for 2019 and 2018 respectively as a percentage of total revenues?
Answer: 89.4, 89.0
Accrued Warranty
The following table summarizes the activity related to the Company’s product warranty liability during the following periods (in thousands):
Table:
 | Year Ended | 
 | June 30,
2019 | June 30,
2018
Balance beginning of period | $12,807 | $10,584
Warranties assumed due to acquisitions   | — | 3,682
New warranties issued | 22,919 | 10,491
Warranty expenditures | (20,947) | (11,950)
Balance end of period  | $14,779 | $12,807


Question: Which years does the table provide information for the Company’s product warranty liability?
Answer: 2019, 2018
Unbilled receivables are client committed amounts for which revenue recognition precedes billing, and billing is solely subject to the passage of time.
Unbilled receivables are expected to be billed in the future as follows
Table:
(Dollars in thousands) | December 31, 2019 | 
1 year or less | $180,219 | 60%
1-2 years | 91,132 | 30%
2-5 years | 30,604 | 10%
 | $301,955 | 100%


Question: What are the respective unbilled receivables within 1 year or less and within 1-2 years?
Answer: 180,219, 91,132
The total compensation of the Executive Board members for each of the years 2019, 2018, and 2017 was as follows:
Executive Board Compensation
1) Portion of total executive compensation allocated to the respective year
Table:
€ thousands | 2019 | 2018 | 2017
Short-term employee benefits | 17,378 | 18,652 | 16,634
Share-based payment1) | 32,393 | 23,646 | 25,723
Subtotal1) | 49,771 | 42,298 | 42,357
Post-employment benefits | 2,825 | 1,106 | 1,312
Thereof defined-benefit | 2,056 | 250 | 423
Thereof defined-contribution | 769 | 856 | 889
Total1) | 52,596 | 43,404 | 43,669


Question: What was the percentage change in Thereof defined-contribution in 2019 from 2018?
Answer: -10.16
Calculation: (769-856)/856
Our net sales by offering category for APAC for 2019 and 2018, were as follows (dollars in thousands):
Net sales in APAC decreased 4% (increased 2% excluding the effects of fluctuating foreign currency rates), or $6.7 million, in 2019 compared to 2018. In APAC, increases in hardware and services net sales year over year were offset by a decrease in software net sales during 2019 compared to 2018. The changes were the result of the following:
• Continued expansion of hardware offerings in the APAC market resulted in higher net sales in this category.
• Continued trend toward higher sales of cloud solution offerings that are recorded on a net sales recognition basis in the services net sales category resulted in declines in the software net sales category.
• Higher volume of net sales of cloud solution offerings and software referral fees that are recorded on a net sales recognition basis positively impacted services net sales. Additionally, there were contributions from Insight delivered services from increased net sales of our digital innovation solutions offering.
Table:
 | APAC |  | 
Sales Mix | 2019 | 2018 | %Change
Hardware | $34,965 | $29,496 | 19%
Software | 92,988 | 107,363 | (13%)
Services | 52,288 | 50,055 | 4%
 | $180,241 | $186,914 | (4%)


Question: What is the net sales of software in 2019 and 2018 respectively?
Answer: 92,988, 107,363
Industry Overview
According to WSTS (an industry research firm), worldwide semiconductor industry sales were $412.1 billion in 2019, a decrease of approximately 12.1% from $468.8 billion in 2018. We participate in unit and revenue surveys and use data summarized by WSTS to evaluate overall semiconductor market trends and to track our progress against the market in the areas we provide semiconductor components. The following table sets forth total worldwide semiconductor industry revenue since 2015:
(1) Based on shipment information published by WSTS. We believe the data provided by WSTS is reliable, but we have not independently verified it. WSTS periodically revises its information. We assume no obligation to update such information.
As indicated above, worldwide semiconductor sales increased from $335.2 billion in 2015 to $412.1 billion in 2019. The decrease of 12.1% from 2018 to 2019 was the result of decreased demand for semiconductor products. Our revenue decreased by $360.4 million, or 6.1%, from 2018 to 2019.
Table:
Year Ended December 31, | Worldwide Semiconductor Industry Sales (1) | Percentage Change
 | (in billions) | 
2019 | $412.1 | (12.1)%
2018 | $468.8 | 13.7%
2017 | $412.2 | 21.6%
2016 | $338.9 | 1.1%
2015 | $335.2 | (0.2)%


Question: How much was the worldwide semiconductor industry sales in 2019?
Answer: $412.1 billion
Remuneration of key management personnel
The remuneration of the Directors, who are the key management personnel of the Group, is set out below in aggregate for each of the categories specified in IAS 24 ‘Related Party Disclosures’:
No Director received compensation for loss of office (2018 nil).
There were gains of $2,010,731 (2018 $852,742) on the exercise of options by key management personnel in 2019.
For further details refer to the Report on Directors’ remuneration on pages 77 to 101.
Table:
 | 2019 | 2018
 | $000 | $000
Short-term employee benefits | 3,540.9 | 3,842.1
Share-based payment | 1,982.7 | 664.6
 | 5,523.6 | 4,506.7


Question: What were the gains on the exercise of options by key management personnel in 2019?
Answer: $2,010,731
Stock-Based Compensation
The Company recognized total stock-based compensation cost related to equity incentive awards as follows (in thousands):
A small portion of stock-based compensation cost above is capitalized in accordance with the accounting guidance for internal-use software. The Company uses the straight-line attribution method for recognizing stock-based compensation expense.
Table:
 |  | For the Year Ended December 31, | 
 | 2019 | 2018 | 2017
Stock-based compensation cost: |  |  | 
Common stock warrants | $— | $512 | $484
Stock options | 16,489 | 13,279 | 11,295
Restricted stock units | 14,585 | 90 | —
Employee stock purchase plan | 3,326 | 2,069 | —
Total stock-based compensation cost | $34,400 | $15,950 | $11,779


Question: What is the change in common stock warrants between 2017 and 2018?
Answer: 28
Calculation: 512 - 484
Note 22. Supplemental Financial Information
Cash paid for income taxes amounted to $77.6 million, $25.9 million and $48.4 million during fiscal 2019, 2018 and 2017, respectively. Cash paid for interest on borrowings amounted to $347.9 million, $85.3 million and $82.5 million during fiscal 2019, 2018 and 2017, respectively.
A summary of additions and deductions related to the valuation allowance for deferred tax asset accounts for the years ended March 31, 2019, 2018 and 2017 follows (amounts in millions):
Table:
 | Balance at Beginning of Year | Additions Charged to Costs and Expenses | Additions Charged to Other Accounts | Deductions | Balance at End of Year
Valuation allowance for deferred tax assets: |  |  |  |  | 
Fiscal 2019 | $204.5 | $16.2 | $175.8 | $(64.4) | $332.1
Fiscal 2018 | $210.1 | $36.2 | $— | $(41.8) | $204.5
Fiscal 2017 | $161.8 | $15.2 | $37.6 | $(4.5) | $210.1


Question: What were the deductions in 2017?
Answer: (4.5)