hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
operating expenses as a percentage of total revenue .

Table:
 | 2006 | 2005 | 2004
marketing and sales | 27% ( 27 % ) | 28% ( 28 % ) | 28% ( 28 % )
research and development | 31% ( 31 % ) | 29% ( 29 % ) | 31% ( 31 % )
general and administrative | 10% ( 10 % ) | 10% ( 10 % ) | 7% ( 7 % )
operating expense summary 2006 compared to 2005 overall operating expenses increased $ 122.5 million in 2006 , as compared to 2005 , primarily due to : 2022 an increase of $ 58.4 million in stock-based compensation expense due to our adoption of sfas no .
123r ; and 2022 an increase of $ 49.2 million in salary , benefits and other employee-related costs , primarily due to an increased number of employees and increases in bonus and commission costs , in part due to our acquisition of verisity ltd. , or verisity , in the second quarter of 2005 .
2005 compared to 2004 operating expenses increased $ 97.4 million in 2005 , as compared to 2004 , primarily due to : 2022 an increase of $ 63.3 million in employee salary and benefit costs , primarily due to our acquisition of verisity and increased bonus and commission costs ; 2022 an increase of $ 9.9 million in stock-based compensation expense due to grants of restricted stock and the assumption of options in our acquisitions ; 2022 an increase of $ 8.6 million in losses associated with the sale of installment contract receivables ; and 2022 an increase of $ 7.1 million in costs related to the retirement of our executive chairman and former president and chief executive officer in 2005 ; partially offset by 2022 our restructuring activities , as discussed below .
marketing and sales 2006 compared to 2005 marketing and sales expenses increased $ 39.4 million in 2006 , as compared to 2005 , primarily due to : 2022 an increase of $ 14.8 million in stock-based compensation expense due to our adoption of sfas no .
123r ; 2022 an increase of $ 18.2 million in employee salary , commissions , benefits and other employee-related costs due to increased hiring of sales and technical personnel , and higher commissions earned resulting from an increase in 2006 sales performance ; and 2022 an increase of $ 7.8 million in marketing programs and customer-focused conferences due to our new marketing initiatives and increased travel to visit our customers .
2005 compared to 2004 marketing and sales expenses increased $ 33.1 million in 2005 , as compared to 2004 , primarily due to : 2022 an increase of $ 29.4 million in employee salary , commission and benefit costs due to increased hiring of sales and technical personnel and higher employee bonuses and commissions ; and 2022 an increase of $ 1.6 million in stock-based compensation expense due to grants of restricted stock and the assumption of options in our acquisitions ; partially offset by 2022 a decrease of $ 1.9 million in marketing program costs. .

Question: what portion of the increase of marketing and sales expense in 2006 is incurred by the increase in stock-based compensation expense due to our adoption of sfas no?
Answer: 37.6%
Calculation: divide(14.8, 39.4)
GreenSky, Inc. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued) (United States Dollars in thousands, except per share data, unless otherwise stated)
Disaggregated revenue
Revenue disaggregated by type of service was as follows for the periods presented:
(1) For the year ended December 31, 2019, includes a $30,459 change in fair value of our servicing asset primarily associated with increases to the contractually specified fixed servicing fees for certain Bank Partners. Refer to Note 3 for additional information.
(2) Other revenue includes miscellaneous revenue items that are individually immaterial. Other revenue is presented separately herein in order to clearly present merchant, interchange and servicing fees, which are more integral to our primary operations and better enable financial statement users to calculate metrics such as servicing and merchant fee yields.
No assets were recognized from the costs to obtain or fulfill a contract with a customer as of December 31,
2019 and 2018. We recognized bad debt expense arising from our contracts with customers of $950, $1,294 and
$817 during the years ended December 31, 2019, 2018 and 2017, respectively, which is recorded within general and
administrative expense in our Consolidated Statements of Operations.
Table:
 |  | Year Ended December 31, | 
 | 2019 | 2018 | 2017
Merchant fees | $361,755 | $297,776 | $234,548
Interchange fees | 44,150 | 51,128 | 44,410
Transaction fees | 405,905 | 348,904 | 278,958
Servicing fees(1) | 123,697 | 65,597 | 46,575
Other(2) | 44 | 172 | 354
Servicing and other | 123,741 | 65,769 | 46,929
Total revenue | $529,646 | $414,673 | $325,887


Question: What does other revenue include?
Answer: miscellaneous revenue items that are individually immaterial. Other revenue is presented separately herein in order to clearly present merchant, interchange and servicing fees
17 Inventories
The write-down of inventories recognised as an expense during the year in respect of continuing operations was £0.7m (2018: £3.5m). This comprises a cost of £5.1m (2018: £4.8m) to write-down inventory to net realisable value reduced by £4.4m (2018: £1.3m) for reversal of previous write-down reassessed as a result of customer demand.
The value of inventories expected to be recovered after more than 12 months is £13.4m (2018: £11.2m).
There is no material difference between the Statement of Financial Position value of inventories and their replacement cost. None of the inventory has been pledged as security.
Table:
 | 2019 | 2018
 | £m | £m
Raw materials, consumables and components | 72.2 | 53.0
Work in progress | 25.5 | 25.7
Finished goods and goods for resale | 88.2 | 81.9
Total inventories | 185.9 | 160.6


Question: In which year was the Work in progress value larger?
Answer: 2018
Calculation: 25.5<25.7
Assets Measured at Fair Value on a Recurring Basis
Assets measured at fair value on a recurring basis at March 31, 2018 are as follows (amounts in millions):
There were no transfers between Level 1 or Level 2 during fiscal 2019 or fiscal 2018. There were no assets measured on a recurring basis during fiscal 2019 or fiscal 2018 using significant unobservable inputs (Level 3).
Table:
 | Quoted Prices in Active Markets for Identical Instruments (Level 1) | Significant Other Observable Inputs (Level 2) | Total Balance
Assets |  |  | 
Cash and cash equivalents: |  |  | 
Money market mutual funds | $121.0 | $— | $121.0
Deposit accounts | — | 641.6 | 641.6
Commercial Paper | — | 118.7 | 118.7
Government agency bonds | — | 20.0 | 20.0
Short-term investments: |  |  | 
Marketable equity securities | 2.8 | — | 2.8
Corporate bonds and debt | — | 542.9 | 542.9
Time deposits | — | 11.5 | 11.5
Government agency bonds | — | 723.2 | 723.2
Municipal bonds - taxable | — | 14.9 | 14.9
Total assets measured at fair value | $123.8 | $2,072.8 | $2,196.6


Question: What was the difference in the total balance between Money market mutual funds and commercial paper?
Answer: 2.3
Calculation: 121.0-118.7
15. Trade and other payables
Trade and other payables mainly consist of amounts owed to suppliers that have been invoiced or are accrued and contract liabilities relating to consideration received from customers in advance. They also include taxes and social security amounts due in relation to the Group’s role as an employer. Derivative financial instruments with a negative market value are reported within this note.
Accounting policies
Trade payables are not interest-bearing and are stated at their nominal value.
Notes: 1 Previously described as deferred income in the year ended 31 March 2018
2 Items are measured at fair value and the valuation basis is level 2 classification, which comprises items where fair value is determined from inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly
3 Includes €823 million (2018: €nil) payable in relation to the irrevocable and non-discretionary share buyback programme announced in January 2019.
The carrying amounts of trade and other payables approximate their fair value.
Materially all of the €1,716 million recorded as current contract liabilities at 1 April 2018 was recognised as revenue during the year.
Other payables included within non-current liabilities include €288 million (2018: €271 million) in respect of the re-insurance of a third party annuity policy related to the Vodafone and CWW Sections of the Vodafone UK Group Pension Scheme.
The fair values of the derivative financial instruments are calculated by discounting the future cash flows to net present values using appropriate market interest rates and foreign currency rates prevailing at 31 March.
Table:
 | 2019 | 2018
 | €m | €m
Included within non-current liabilities: |  | 
Other payables | 327 | 314
Accruals | 113 | 159
Contract liabilities1 | 574 | 237
Derivative financial instruments2 | 1,924 | 2,133
 | 2,938 | 2,843
Included within current liabilities: |  | 
Trade payables | 6,541 | 6,185
Amounts owed to associates and joint ventures | 26 | 27
Other taxes and social security payable | 1,218 | 1,177
Other payables3 | 1,410 | 1,346
Accruals | 6,120 | 5,579
Contract liabilities1 | 1,818 | 1,678
Derivative financial instruments2 | 520 | 250
 | 17,653 | 16,242


Question: How much is the 2019 other payables included within non-current liabilities?
Answer: 327
Segment Financial Results
Revenues
The following table sets forth revenues by segment for the periods presented (in millions):
(1) Revenues for Corporate and Other represent deferred revenue purchase accounting adjustments recorded in accordance with GAAP.
Software Solutions
Revenues were $962.0 million in 2018 compared to $904.5 million in 2017, an increase of $57.5 million, or 6%. Our servicing software solutions revenues increased 7%, or $52.5 million, primarily driven by loan growth on MSP® from new and existing  clients. Our origination software solutions revenues increased 3%, or $5.0 million, primarily driven by growth in our loan origination system solutions and a software license fee in our Lending Solutions business, partially offset by the effect of lower volumes on our Exchange and eLending platforms primarily as a result of the 26% decline in refinancing originations as reported by the Mortgage Bankers Association.
Data and Analytics
Revenues were $154.5 million in 2018 compared to $151.6 million in 2017, an increase of $2.9 million, or 2%. The increase was primarily driven by growth in our property data and multiple listing service businesses, partially offset by upfront revenues from long-term strategic license deals in 2017.
Table:
 | Year ended December 31 |  | Variance | 
 | 2018 | 2017 | $ | %
Software Solutions | $962.0 | $904.5 | $57.5 | 6%
Data and Analytics | 154.5 | 151.6 | 2.9 | 2%
Corporate and Other(1) | (2.5) | (4.5) | 2.0 | NM
Total | $1,114.0 | $1,051.6 | $62.4 | 6%


Question: What was the average total revenue between 2017 and 2018?
Answer: 1082.8
Calculation: (1,114.0+1,051.6)/2
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: Where does the company file income tax returns?
Answer: in the U.S. federal jurisdiction and the state of California
Sales and Marketing Expenses
Sales and marketing expenses increased $105 million, or 36%, in 2019 compared to 2018. The overall increase was primarily due to increased employee compensation-related costs, including
amortization of capitalized commissions, of $72 million, driven by headcount growth, and an increase in marketing program costs of $8 million. The increase in marketing program costs was driven by increased volume of advertising activities. Further contributing to the overall increase was an increase in allocated shared costs of $14 million.
Sales and marketing expenses increased $80 million, or 38%, in 2018 compared to 2017. The overall increase was primarily due to increased employee compensation-related costs, including amortization of capitalized commissions, of $55 million, driven by headcount growth, and an increase in marketing program costs of $10 million. The increase in marketing program costs was driven by increased volume of advertising activities. Further contributing to the overall increase was an increase in allocated shared costs of $11 million.
Table:
 |  | Year Ended December 31, |  |  | 
 | 2019 | 2018 | 2017 | 2018 to 2019 % change | 2017 to 2018 % change
 |  |  | (In thousands, except percentages) |  | 
Sales and Marketing | $ 396,514 | $ 291,668 | $ 211,918 | 36% | 38%


Question: What was the increase in marketing program costs from 2017 to 2018?
Answer: $10 million
Grants of Plan-Based Awards in 2018
The following table sets forth information regarding grants of awards made to our named executive officers during 2018. We did not grant any plan-based cash awards during 2018.
(1) The amounts included in this column represent the aggregate grant date fair value of RSUs, RSAs and option awards calculated in accordance with ASC 718. The valuation assumptions used in determining the grant date fair value of the RSUs, RSAs and options reported in this column are described in the Notes to the Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2018.
Table:
Name | Grant Date | Number of Securities Underlying Restricted Stock Awards and Restricted Stock Units (#) | Number of Securities Underlying Options (#) | Exercise or Base Price of Option Awards ($/Sh) | Grant Date Fair Value of Stock and Option Awards ($) (1)
Mr. Dorsey | — | — | — | — | —
Ms. Friar | 4/25/2018 | 38,159 | 109,026 | 44.75 | 3,479,299
Ms.Henry | 4/25/2018 | 38,159 | 109,026 | 44.75 | 3,479,299
Ms. Reses | 4/25/2018 | 38,159 | 109,026 | 44.75 | 3,479,299
Ms. Whiteley | 4/25/2018 | 16,695 | 47,699 | 44.75 | 1,522,215
Mr. Daswani | 4/25/2018 | 4,198 | — | — | 187,861
Mr. Murphy | 4/25/2018 | 4,962 | — | — | 222,050


Question: What is the difference between the smallest and largest amount of Grant Date Fair Value of Stock and Option Awards?
Answer: 3291438
Calculation: 3,479,299 - 187,861
General and Administrative Expenses
General and administrative expenses increased $38 million, or 36%, in 2019 compared to 2018. The overall increase was primarily due to increased employee compensation-related costs of $15 million, driven by headcount growth, and a one-time termination-related charge of $3 million during 2019. The overall increase was also driven by costs associated with our acquisition of Smooch in 2019 including transaction costs of $3 million and a one-time share-based compensation charge of $3 million related to accelerated stock options of Smooch. Further contributing to the overall increase was an increase in allocated shared costs of $3 million
General and administrative expenses increased $22 million, or 27%, in 2018 compared to 2017. The overall increase was primarily due to increased employee compensation-related costs of $15 million, driven by headcount growth, and increased allocated shared costs of $3 million.
Table:
 |  | Year Ended December 31 |  |  | 
 | 2019 | 2018 |  | 2018 to 2019 % change | 2017 to 2018 % change
 |  |  | (In thousands, except percentages) |  | 
General and Administrative | $ 141,076 | $ 103,491 | $ 81,680 | 36% | 27%


Question: What is the percentage increase in General and Administrative expenses from 2018 to 2019
Answer: 36%
Free cash flow
We define free cash flow as net cash provided by (used in) operating activities less purchase of property and equipment. We consider free cash flow to be a liquidity measure that provides useful information to management and investors about the amount of cash generated by the business that can possibly be used for investing in our business and strengthening the balance sheet, but it is not intended to represent the residual cash flow available for discretionary expenditures. Free cash flow is not prepared in accordance with U.S. GAAP, and should not be considered in isolation of, or as an alternative to, measures prepared in accordance with U.S. GAAP.
The following table presents a reconciliation of net cash provided by (used in) operating activities to free cash flow:
(1) Our adoption of ASU 2016-09 on January 1, 2017 resulted in excess tax benefits for share-based payments recorded as a reduction of income tax expense and reflected within operating cash flows, rather than recorded within equity and reflected within financing cash flows. We elected to adopt this new standard retrospectively, which impacted the presentation for all periods prior to the adoption date.
Table:
 |  |  | Year Ended December 31, |  | 
 | 2019 | 2018 | 2017 | 2016 | 2015
 |  |  | (in thousands) |  | 
Net cash provided by (used in) operating activities (1) | $(156,832) | $113,207 | $64,241 | $138,720 | $141,257
Purchase of property and equipment | (36,531) | (52,880) | (89,160) | (78,640) | (30,566)
Free cash flow | $(193,363) | $60,327 | $(24,919) | $60,080 | $110,691
Net cash provided by (used in) investing activities | $25,761 | $17,496 | $(28,718) | $(392,666) | $(170,027)
Net cash provided by (used in) financing activities (1) | $(8,406) | $1,287 | $4,635 | $19,794 | $368,953


Question: When did the company adopt ASU 2016-09?
Answer: January 1, 2017
6. Operating profit
The Group has identified a number of items which are material due to the significance of their nature and/or amount. These are listed separately here to provide a better understanding of the financial performance of the Group:
Following the application of IFRS 16, depreciation of property, plant and equipment has been restated for the year ended 31 March 2018 (note 2).
Table:
 |  | 2019 | (Restated) 2018
 | Note | £m | £m
Staff costs | 7 | (56.0) | (54.5)
Contractor costs |  | (0.4) | (0.4)
Depreciation of property, plant and equipment | 14 | (4.9) | (4.9)
Amortisation of intangible assets | 13 | (4.0) | (4.1)
Profit on sale of property, plant and equipment |  | 0.1 | –


Question: For which years was Depreciation of property, plant and equipment calculated?
Answer: 2019, 2018
* Recast to reflect segment changes.
** 2019 results were impacted by Red Hat purchase accounting and acquisition-related activity.
The Cloud & Cognitive Software gross profit margin decreased 0.9 points to 76.7 percent in 2019 compared to the prior year. The gross profit margin decline was driven by the purchase price accounting impacts from the Red Hat acquisition.
Pre-tax income of $7,952 million decreased 10.5 percent compared to the prior year with a pre-tax margin decline of 4.4 points to 30.6 percent which reflects the acquisition of Red Hat, ongoing investments in key strategic areas and lower income from IP partnership agreements.
Table:
($ in millions) |  |  | 
For thee year ended December 31: | 2019 | 2018* | Yr.-to-Yr. Percent/ Margin Change**
Cloud & Cognitive Software |  |  | 
External gross profit | $17,790 | $17,224 | 3.3%
External gross profit margin | 76.7% | 77.6% | (0.9)pts.
Pre-tax income | $ 7,952 | $ 8,882 | (10.5)%
Pre-tax margin | 30.6% | 35.0% | (4.4)pts.


Question: What was the average External gross profit in 2019 and 2018?
Answer: 17507
Calculation: (17,790 + 17,224) / 2
stock performance graph the following line-graph presentation compares our cumulative shareholder returns with the standard & poor 2019s information technology index and the standard & poor 2019s 500 stock index for the past five years . the line graph assumes the investment of $ 100 in our common stock , the standard & poor 2019s information technology index , and the standard & poor 2019s 500 stock index on may 31 , 2002 and assumes reinvestment of all dividends . comparison of 5 year cumulative total return* among global payments inc. , the s&p 500 index and the s&p information technology index 5/02 5/03 5/04 5/05 5/06 5/07 global payments inc . s&p 500 s&p information technology * $ 100 invested on 5/31/02 in stock or index-including reinvestment of dividends . fiscal year ending may 31 . global payments s&p 500 information technology .

Table:
 | global payments | s&p 500 | s&p information technology
may 31 2002 | $ 100.00 | $ 100.00 | $ 100.00
may 31 2003 | 94.20 | 91.94 | 94.48
may 31 2004 | 129.77 | 108.79 | 115.24
may 31 2005 | 193.30 | 117.75 | 116.29
may 31 2006 | 260.35 | 127.92 | 117.14
may 31 2007 | 224.24 | 157.08 | 144.11
issuer purchases of equity securities on april 5 , 2007 , our board of directors authorized repurchases of our common stock in an amount up to $ 100 million .
the board has authorized us to purchase shares from time to time as market conditions permit .
there is no expiration date with respect to this authorization .
no amounts have been repurchased during the fiscal year ended may 31 , 2007. .

Question: what will be the rate of return for global payments from 2003 to 2004?
Answer: 37.8%
Calculation: subtract(129.77, 94.20), divide(#0, 94.20)
Services provided by the Company’s auditors
During the year, the Group (including overseas subsidiaries) obtained the following services from the operating company’s auditors:
Table:
 | 2019 | 2018
 | £m | £m
Fees payable for the audit of the Company and consolidated financial statements | 0.1 | 0.1
Fees payable for other services: |  | 
– the audit of the subsidiary undertakings pursuant to legislation | 0.2 | 0.1
Total | 0.3 | 0.2


Question: In which year was the total amount of fees payable larger?
Answer: 2019
Calculation: 0.3>0.2
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 was the balance at beginning of year in 2018?
Answer: 210.1