hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
15 Goodwill and other intangible assets continued
Acquired intangibles
The disclosure by class of acquired intangible assets is shown in the tables below.
2019
Customer relationships are amortised over their useful economic lives in line with the accounting policies disclosed in Note 1. Within this balance individually material balances relate to Thermocoax £32.6m. The remaining amortisation period is 14.3 years.
Brand names and trademark assets are amortised over their useful economic lives in line with the accounting policies disclosed in Note 1. Within this balance individually material balances relate to Chromalox £114.1m (2018: £125.4m), Gestra £28.4m (2018: £32.5m) and Thermocoax £13.6m. The remaining amortisation periods are 17.5 years, 12.3 years and 19.3 years respectively.
Manufacturing designs and core technology are amortised over their useful economic lives in line with the accounting policies disclosed in Note 1. Within this balance individually material balances relate to Chromalox £12.9m (2018: £15.1m), Gestra £10.8m (2018: £12.3m) and Aflex £8.5m (2018: £9.4m). The remaining amortisation period is 12.5 years for Chromalox, 12.3 years for Gestra and 10 years for Aflex.
Non-compete undertakings are amortised over their useful economic lives in line with the accounting policies disclosed in Note 1. There are no individually material items within this balance.
Table:
 | Customer relationships | Brand names and trademarks | Manufacturing designs and core technology | Non-compete undertakings and other | Total acquired intangibles
 | £m | £m | £m | £m | £m
Cost: |  |  |  |  | 
At 1st January 2019 | 57.1 | 187.3 | 56.0 | 20.2 | 320.6
Exchange and other adjustments | (3.0) | (7.8) | (2.2) | (0.9) | (13.9)
 | 54.1 | 179.5 | 53.8 | 19.3 | 306.7
Acquisitions | 34.9 | 14.3 | 7.2 | 3.8 | 60.2
At 31st December 2019 | 89.0 | 193.8 | 61.0 | 23.1 | 366.9
Amortisation and impairment: |  |  |  |  | 
At 1st January 2019 | 25.1 | 21.3 | 14.2 | 15.6 | 76.2
Exchange adjustments | (1.3) | (1.1) | (0.6) | (0.8) | (3.8)
 | 23.8 | 20.2 | 13.6 | 14.8 | 72.4
Amortisation and impairment | 7.1 | 10.4 | 5.6 | 3.7 | 26.8
At 31st December 2019 | 30.9 | 30.6 | 19.2 | 18.5 | 99.2
Net book value: |  |  |  |  | 
At 31st December 2019 | 58.1 | 163.2 | 41.8 | 4.6 | 267.7


Question: What was the percentage change in the amount of individually material balances under manufacturing designs and core technology for Aflex in 2019 from 2018?
Answer: -9.57
Calculation: (8.5-9.4)/9.4
Operating Income and Operating Margin
Operating income for fiscal 2019 increased $406 million, or 7%, over fiscal 2018.
Operating income and operating margin for each of the operating groups were as follows:
Amounts in table may not total due to rounding.
(1) Effective September 1, 2018, we adopted FASB ASU No. 2017-07, Compensation-Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. Certain components of pension service costs were reclassified from Operating expenses to Non-operating expenses. Prior period amounts have been revised to conform with the current period presentation.
Table:
 |  | Fiscal |  |  | 
 | 2019 |  | 2018 (1) |  | 
 | Operating Income | Operating Margin | Operating Income | Operating Margin | Increase (Decrease)
 |  |  | (in millions of U.S. dollars) |  | 
Communications, Media & Technology | $1,555 | 18% | $1,380 | 17% | $175
Financial Services | 1,238 | 15 | 1,365 | 16 | (128)
Health & Public Service | 739 | 10 | 766 | 11 | (27)
Products | 1,720 | 14 | 1,664 | 15 | 56
Resources | 1,053 | 16 | 724 | 12 | 330
TOTAL | $6,305 | 14.6% | $5,899 | 14.4% | $406


Question: What is the operating margin for health and public service in 2019?
Answer: 10
Fair Value of Financial Instruments
The carrying amounts of cash and cash equivalents, trade accounts receivable, prepaid expenses and other current assets, accounts payable and accrued expenses approximate fair value because of the short-term nature of these financial instruments. The carrying amounts of borrowings under credit facilities and under loans approximates fair value as interest rates on these instruments approximates current market rates.
Notes payable and long-term debt is carried at amortized cost; however, the Company estimates the fair value of notes payable and long-term debt for disclosure purposes. The following table presents the carrying amounts and fair values of the Company’s notes payable and long-term debt, by hierarchy level as of the periods indicated:
(1) The fair value estimates are based upon observable market data.
(2) This fair value estimate is based on the Company’s indicative borrowing cost derived from discounted cash flows.
Refer to Note 9 – “Postretirement and Other Employee Benefits” for disclosure surrounding the fair value of the Company’s pension plan assets.
Table:
 |  | August 31, 2019 |  | August 31, 2018 | 
(in thousands) | Fair Value Hierarchy | Carrying Amount | Fair Value | Carrying Amount | Fair Value
Notes payable and long-term debt: (Note 8) |  |  |  |  | 
5.625% Senior Notes | Level 2(1) | $398,886 | $416,000 | $397,995 | $415,704
4.700% Senior Notes | Level 2(1) | 498,004 | 525,890 | 497,350 | 503,545
4.900% Senior Notes | Level 3(2) | 299,057 | 318,704 | 298,814 | 306,535
3.950% Senior Notes | Level 2(1) | 494,825 | 509,845 | 494,208 | 476,010


Question: What was the change in the fair value for the 3.950% Senior Notes between 2018 and 2019?
Answer: 33835
Calculation: 509,845-476,010
Original Equipment Manufacturers (“OEM”) are the end-customers to which we provide direct marketing application engineering support, while Distribution customers refers to the distributors and representatives that we engage to distribute our products around the world.
By market channel, our fourth quarter revenues in Distribution amounted to 28% of our total revenues, flat compared to the previous quarter and decreasing on a year-over-year basis.
Table:
 |  | Three Months Ended | 
 | December 31, 2019 | September 29, 2019 | December 31, 2018
 |  | (Unaudited, in %) | 
OEM | 72% | 72% | 69%
Distribution | 28 | 28 | 31
Total | 100% | 100% | 100%


Question: What are Distribution customers?
Answer: Distribution customers refers to the distributors and representatives that we engage to distribute our products around the world.
ALTERNATIVE PERFORMANCE MEASURES – continued
Return on Invested Capital (RoIC): TORM defines RoIC as earnings before interest and tax (EBIT) less tax, divided by the average invested capital for the period. Invested capital is defined below.
RoIC expresses the returns generated on capital invested in the Group. The progression of RoIC is used by TORM to measure progress against our longer-term value creation goals outlined to investors. RoIC is calculated as follows:
Table:
USDm | 2019 | 2018 | 2017
Operating profit/(loss) (EBIT) | 205.9 | 2.8 | 39.5
Tax | -0.8 | -1.6 | -0.8
EBIT less Tax | 205.1 | 1.2 | 38.7
Invested capital, opening balance | 1,469.4 | 1,406.0 | 1,387.7
Invested capital, ending balance | 1,786.0 | 1,469.4 | 1,406.0
Average invested capital for the year | 1,627.7 | 1,437.7 | 1,396.9
Return on Invested Capital (RoIC) | 12.6% | 0.1% | 2.8%


Question: How does TORM define RoIC?
Answer: TORM defines RoIC as earnings before interest and tax (EBIT) less tax, divided by the average invested capital for the period
NOTE 22. INCOME TAXES
Amounts recognized in profit or loss
The income tax expense consists of:
Table:
 | Year ended December 31, | 
 | 2018 | 2019
Current: |  | 
The Netherlands | (4,128) | (28,409)
Other countries | (6,374) | (9,011)
 | (10,502) | (37,420)
Deferred: |  | 
The Netherlands | 1,944 | (6,860)
Other countries | (6,878) | (9,370)
Income tax expense | (15,436) | (53,650)


Question: What does the table show?
Answer: The income tax expense
Other Long-Term Liabilities
In-Process Revenue Contracts
As part of the Company’s previous acquisition of FPSO units from Petrojarl ASA (subsequently renamed Teekay Petrojarl AS, or Teekay Petrojarl), the Company assumed a certain FPSO contract with terms that were less favorable than the then prevailing market terms. At the time of the acquisition, the Company recognized a liability based on the estimated fair value of this contract and service obligation.
The Company is amortizing the remaining liability over the estimated remaining term of its associated contract on a weighted basis, based on the projected revenue to be earned under the contract.
Amortization of in-process revenue contracts for the year ended December 31, 2019 was $5.9 million (2018 – $14.5 million, 2017 – $27.2 million), which is included in revenues on the consolidated statements of loss. Amortization of in-process revenue contracts following 2019 is expected to be $5.9 million (2020), $5.9 million (2021) and $5.9 million (2022).
Table:
 | December 31, 2019 | December 31, 2018
 | $ | $
Deferred revenues and gains (note 2) | 28,612 | 31,324
Guarantee liabilities | 10,113 | 9,434
Asset retirement obligation | 31,068 | 27,759
Pension liabilities | 7,238 | 4,847
In-process revenue contracts | 11,866 | 17,800
Derivative liabilities (note 16) | 51,914 | 56,352
Unrecognized tax benefits (note 22) | 62,958 | 40,556
Office lease liability – long-term (note 1) | 10,254 | —
Other | 2,325 | 1,325
 | 216,348 | 189,397


Question: What is the increase/ (decrease) in Asset retirement obligation from December 31, 2019 to December 31, 2018?
Answer: 3309
Calculation: 31,068-27,759
NOTE F – STOCKHOLDERS’ EQUITY (CONTINUED)
A summary of restricted stock units granted during the year ended December 31, 2019 is as follows (each restricted stock unit represents the contingent right to receive one share of the Company’s common stock):
Restricted stock unit compensation expense was $567,000 for the year ended December 31, 2019 and $687,000 for the year ended December 31, 2018.
The Company has an aggregate of $232,000 of unrecognized restricted stock unit compensation expense as of December 31, 2019 to be expensed over a weighted average period of 1.2 years.
Table:
 | Number of Shares | Weighted-Average Grant Date Fair Value
Balance of restricted stock units outstanding at December 31, 2018 | 505,000 | $2.17
Grants of restricted stock units | 70,000 | 2.45
Vested restricted stock units | (235,000) | (2.29)
Balance of unvested restricted stock units at December 31, 2019 | 340,000 | 2.15


Question: How many years are the unrecognized restricted stock unit compensation expensed over?
Answer: 1.2
5 Staff costs and numbers
The aggregate payroll costs of persons employed by the Group were as follows:
Table:
 | 2019 | 2018
 | £m | £m
Wages and salaries | 345.6 | 325.9
Social security costs | 71.6 | 58.7
Pension costs | 21.5 | 19.3
Total payroll costs | 438.7 | 403.9


Question: What was the percentage change in social security costs in 2019 from 2018?
Answer: 21.98
Calculation: (71.6-58.7)/58.7
As of December 31, 2019, exercisable options had an intrinsic value of less than $0.1 million. The intrinsic value of options exercised was $0.4 million in 2019 and $0.1 million in 2018. The following are the assumptions used in valuing the 2019 and 2018 stock option grants:
In January 2020, we issued options to employees for the purchase of up to 591,004 shares of common stock, at an exercise price of $1.23 per share which vest and become exercisable in four annual installments ending in January 2024. The options have a grant date fair value per share of $1.26.
Table:
Year Ended December 31 |  | 
 | 2019 | 2018
Assumed volatility | 64% - 69% | 75% - 81%
 | (67% weighted average) | (78% weighted average)
Assumed risk free interest rate | 1.8% - 2.7% | 2.2% - 2.8%
 | (2.4% weighted average) | (2.5% weighted average)
Average expected life of options (in years) | 6.1 - 6.3 | 6.2
 | (6.2 weighted average) | (6.2 weighted average)
Expected dividends | - | -


Question: What is the average assumed risk free rate in 2018?
Answer: 2.5
Calculation: (2.2 + 2.8)/2
Adjusted earnings per share
Basic adjusted earnings per share is defined as adjusted profit for the period attributable to equity holders divided by the weighted average number of shares. Diluted adjusted earnings per share is defined as adjusted profit for the period attributable to equity holders divided by the diluted weighted average number of shares.
Basic and diluted EPS calculated on an IFRS profit basis are included in Note 10.
Table:
 | 2019 | 2018
Profit for the period attributable to equity holders as reported under IFRS (£m) | 166.6 | 223.1
Items excluded from adjusted operating profit disclosed above (£m) | 37.7 | (34.2)
Tax effects on adjusted items (£m) | (8.5) | (5.0)
Adjusted profit for the period attributable to equity holders (£m) | 195.8 | 183.9
Weighted average shares (million) | 73.7 | 73.6
Basic adjusted earnings per share | 265.7p | 250.0p
Diluted weighted average shares (million) | 73.9 | 73.8
Diluted adjusted earnings per share | 264.9p | 249.1p


Question: In which year was the basic adjusted earnings per share larger?
Answer: 2019
Calculation: 265.7p>250.0p
1. Sales revenues
Commencing with financial year 2018/19, METRO has been applying IFRS 15 (Revenue from Contracts with Customers). The sales revenues reported for the current financial year relate exclusively to revenues from contracts with customers.
Sales revenues are allocated to the following categories:
Table:
€ million | 2017/2018 | 2018/2019
Store-based and other business | 22,585 | 22,487
METRO Germany | 4,128 | 4,075
METRO Western Europe (excl. Germany) | 8,904 | 8,885
METRO Russia | 2,550 | 2,406
METRO Eastern Europe (excl. Russia) | 5,893 | 5,986
METRO Asia | 1,074 | 1,097
Others | 35 | 38
Delivery sales | 4,207 | 4,595
METRO Germany | 633 | 660
METRO Western Europe (excl. Germany) | 1,704 | 1,867
METRO Russia | 265 | 257
METRO Eastern Europe (excl. Russia) | 1,059 | 1,205
METRO Asia | 538 | 599
Others | 7 | 7
Total sales | 26,792 | 27,082
METRO Germany | 4,761 | 4,735
METRO Western Europe (excl. Germany) | 10,609 | 10,752
METRO Russia | 2,815 | 2,662
METRO Eastern Europe (excl. Russia) | 6,952 | 7,191
METRO Asia | 1,612 | 1,696
Others | 43 | 46


Question: When has METRO started applying IFRS 15?
Answer: Commencing with financial year 2018/19
(c) Additional Segment Information
The majority of our assets as of July 27, 2019 and July 28, 2018 were attributable to our U.S. operations. In fiscal 2019, 2018, and 2017, no single customer accounted for 10% or more of revenue.
Property and equipment information is based on the physical location of the assets. The following table presents property and equipment information for geographic areas (in millions):
Table:
 | July 27, 2019 | July 28, 2018 | July 29, 2017
Property and equipment, net: |  |  | 
United States | $2,266 | $2,487 | $2,711
International | 523 | 519 | 611
Total | $2,789 | $3,006 | $3,322


Question: What was the change in net property and equipment from United States between 2017 and 2018?
Answer: -224
Calculation: 2,487-2,711
Section D: People
This section provides information about our employee benefit obligations, including annual leave, long service leave and post-employment benefits. It also includes details about our share plans and the compensation paid to Key Management Personnel.
15. EMPLOYEE BENEFITS.
1. Included within current provisions in the statement of financial position.
2. Included within non-current provisions in the statement of financial position.
Employee benefits liability
Employee benefits liability represents amounts provided for annual leave and long service leave. The current portion for this provision includes the total amount accrued for annual leave entitlements and the amounts accrued for long service leave entitlements that have vested due to employees having completed the required period of service.
Based on past experience, the Group does not expect the full amount of annual leave or long service leave balances classified as current liabilities to be settled within the next 12 months. These amounts are presented as current liabilities since the Group does not have an unconditional right to defer the settlement of these amounts in the event employees wish to use their leave entitlement.
Table:
 | 2019 | 2018
 | $’000 | $’000
Current employee benefits1 | 13,859 | 12,710
Non-current employee benefits2 | 189 | 675
Total employee benefits liability | 14,048 | 13,385


Question: What do employee benefits liability represent?
Answer: amounts provided for annual leave and long service leave.
Note 6: Equity Method Investments
The following table provides a reconciliation of equity method investments to the Company's Consolidated Balance Sheets (amounts in thousands):
TOKIN's Joint Ventures - NYC and NTS
As noted in Note 2, “Acquisitions,” on April 19, 2017, the Company completed its acquisition of the remaining 66% economic interest in TOKIN and TOKIN became a 100% owned subsidiary of KEMET. TOKIN had two investments at the time of acquisition: NYC and NTS. The Company accounts for both investments using the equity method due to the related nature of operations and the Company's ability to influence management decisions.
NYC was established in 1966 by TOKIN and Mitsui Mining and Smelting Co., Ltd (“Mitsui”). NYC was established to commercialize yttrium oxides and the Company owns 30% of NYC's stock. The carrying amount of the Company's equity investment in NYC was $8.2 million and $8.1 million as of March 31, 2019 and 2018, respectively.
NTS was established in 2004 by TOKIN, however subsequent to its formation, TOKIN sold 67% of its stock. NTS provides world-class electronic devices by utilizing global procurement networks and the Company owns 33% of NTS' stock. During the year ended March 31, 2019, a significant portion of NTS' sales were TOKIN’s products. The carrying amount of the Company's equity investment in NTS was $1.2 million and $1.0 million as of March 31, 2019 and 2018, respectively.
Table:
 | March 31, | 
 | 2019 | 2018
Nippon Yttrium Co., Ltd ("NYC") | $8,215 | $8,148
NT Sales Co., Ltd ("NTS") | 1,218 | 998
Novasentis | 977 | 2,870
KEMET Jianghai Electronics Components Co., Ltd (“KEMET Jianghai”) | 2,515 | —
 | $12,925 | $12,016


Question: What was the total investments in 2018?
Answer: 12,016
iv) Shareholding Pattern of top ten shareholders (other than Directors, Promoters and holder of GDRs and ADRs):
* The shares of the Company are traded on daily basis and hence the datewise increase/decrease in shareholding is not indicated. Shareholding is consolidated based on permanent account number (PAN) of the shareholder.
Table:
Top Ten Shareholders* | Shareholding at the beginning of the year April 1, 2018 |  | Cumulative shareholding at end of the year March 31, 2019 | 
 | No. of shares | % of total shares of the Company | No. of shares | % of total shares of the Company
1. Life Insurance Corporation of India | 75,384,947 | 3.9 | 152,493,927 | 4.1
2. SBI Mutual Fund | 7,056,720 | 0.4 | 21,680,561 | 0.6
3. First State Investments Icvc- Stewart Investors Asia Pacific Leaders Fund | 15,054,489 | 0.8 | 19,248,438 | 0.5
4. Government of Singapore | 6,497,754 | 0.3 | 18,028,475 | 0.5
5.Oppenheimer Developing Markets Fund | 7,996,009 | 0.4 | 16,731,906 | 0.5
6.ICICI Prudential Life Insurance Company Ltd | 3,886,141 | 0.2 | 16,139,316 | 0.4
7.Axis Mutual Fund Trustee Limited | 4,055,256 | 0.2 | 15,244,614 | 0.4
8.Abu Dhabi Investment Authority | 6,296,384 | 0.3 | 15,036,984 | 0.4
9. Vanguard Emerging Markets Stock Index Fund, A Series of Vanguard International Equity Index Funds | 7,595,080 | 0.4 | 14,112,213 | 0.4
10. Vanguard Total International Stock Index Fund | 6,179,273 | 0.3 | 13,978,944 | 0.4


Question: At end of the year March 31 2019, what is the total cumulative percentage shareholding of all the top ten shareholders?
Answer: 8.2
Calculation: 4.1+0.6+0.5+0.5+0.5+0.4+0.4+0.4+0.4+0.4
Exposures The maximum credit risk exposure of the group’s financial assets at the balance sheet date is as follows:
The carrying amount excludes £445m (2017/18: £317m, 2016/17: £360m) of non-current trade and other receivables which relate to non-financial assets, and £1,456m (2017/18: £1,496m, 2016/17: £1,106m) of prepayments, deferred contract costs and other receivables.
Table:
 | Notes | 2019 | 2018 | 2017
At 31 March Notes |  | £m | £m | £m
Derivative financial assets |  | 1,592 | 1,509 | 2,246
Investments | 23 | 3,268 | 3,075 | 1,564
Trade and other receivables a | 17 | 1,766 | 2,518 | 2,729
Contract assets | 6 | 1,602 | – | –
Cash and cash equivalents | 24 | 1,666 | 528 | 528
 |  | 9,894 | 7,630 | 7,067


Question: What is theCash and cash equivalents for 2017, 2018 and 2019 respectively?
Answer: 528, 528, 1,666
14 Leases
Right-of-use assets
The vast majority of the right-of-use asset value relates to leased property where the Group leases a number of office and warehouse sites in a number of geographical locations. The remaining leases are largely made up of leased motor vehicles, where the Group makes use of leasing cars for sales and service engineers at a number of operating company locations. The average lease term is 4.3 years.
Table:
 | Leased land and buildings | Leased plants and machinery | Leased fixtures, fittings, tools and equipment | Total right-of-use assets
 | £m | £m | £m | £m
Cost: |  |  |  | 
Transition adjustment at 1st January 2019 | 27.2 | 7.0 | 1.9 | 36.1
Reclassification from long-term prepayments | 5.1 | – | – | 5.1
Additions | 7.2 | 4.2 | 0.3 | 11.7
Acquisitions | 0.8 | 0.3 | – | 1.1
Disposals | (0.2) | (0.1) | – | (0.3)
Exchange adjustments | (1.5) | (0.4) | (0.1) | (2.0)
At 31st December 2019 | 38.6 | 11.0 | 2.1 | 51.7
Depreciation: |  |  |  | 
Charged in the year | 7.0 | 3.7 | 0.6 | 11.3
Disposals | (0.1) | – | – | (0.1)
Exchange adjustments | (0.2) | (0.1) | – | (0.3)
At 31st December 2019 | 6.7 | 3.6 | 0.6 | 10.9
Net book value: |  |  |  | 
At 31st December 2019 | 31.9 | 7.4 | 1.5 | 40.8


Question: What are the different types of leases making up the right-of-use assets in the table?
Answer: Leased land and buildings, Leased plants and machinery, Leased fixtures, fittings, tools and equipment