hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
Comparison of Years Ended December 31, 2019 to December 31, 2018
The following tables in this section set forth our selected consolidated statements of operations (in thousands), data for the percentage change and data as a percentage of revenue for the years ended December 31, 2019 and 2018. Certain previously reported amounts in the consolidated statements of operations for the year ended December 31, 2018 have been reclassified to conform to our current presentation to reflect interest income as a separate line item, which was previously included in other income, net.
Cost of Revenue
(1) Excludes amortization and depreciation shown in operating expenses.
The $37.9 million increase in cost of revenue in 2019 as compared to 2018 was the result of a $32.8 million, or 32%, increase in cost of hardware and other revenue and a $5.1 million, or 11%, increase in cost of SaaS and license revenue. Our cost of software license revenue included within cost of SaaS and license revenue decreased $0.4 million to $1.3 million during 2019 as compared to $1.7 million during 2018. The increase in cost of Alarm.com segment hardware and other revenue related primarily to an increase in the number of hardware units shipped in 2019 as compared to 2018. The increase in cost of  corresponding increase in amounts paid to wireless network providers.
Cost of hardware and other revenue as a percentage of hardware and other revenue was 81% and 78% for the years ended December 31, 2019 and 2018, respectively. Cost of SaaS and license revenue as a percentage of SaaS and license revenue was 15% for each of the years ended December 31, 2019 and 2018. Cost of software license revenue as a percentage of software license revenue was 3% and 4% for the years ended December 31, 2019 and 2018, respectively. The increase in cost of hardware and other revenue as a percentage of hardware and other revenue in 2019 as compared to 2018 is a reflection of the mix of product sales during the periods.
Table:
 |  | Year Ended December 31, | % Change
2019 vs. 2018 | 2019 | 2018 | 2019 vs. 2018
Cost of revenue(1): |  |  | 
Cost of SaaS and license revenue | $50,066 | $44,933 | 11%
Cost of hardware and other revenue | 133,533 | 100,782 | 32%
Total cost of revenue | $183,599 | $145,715 | 26%
% of total revenue | 37% | 35% | 


Question: What was the total cost of revenue in 2018?
Answer: $145,715
Note 5: Equity-based Compensation Plans
The Company has stock plans that provide for grants of equity-based awards to eligible participants, including stock options and restricted stock units, of the Company’s Common Stock. An option is a right to purchase Common Stock at a set price. An RSU award is an agreement to issue a set number of shares of Common Stock at the time of vesting. The Company’s options and RSU awards typically vest over a period of three years or less. The Company also has an employee stock purchase plan that allows employees to purchase its Common Stock at a discount through payroll deductions.
The Lam Research Corporation 2007 Stock Incentive Plan, as amended and restated, 2011 Stock Incentive Plan, as amended and restated, and the 2015 Stock Incentive Plan (collectively the “Stock Plans”), provide for the grant of non-qualified equity-based awards to eligible employees, consultants and advisors, and non-employee directors of the Company and its subsidiaries. The 2015 Stock Incentive Plan was approved by shareholders authorizing up to 18,000,000 shares available for issuance under the plan. Additionally, 1,232,068 shares that remained available for grants under the Company’s 2007 Stock Incentive Plan were added to the shares available for issuance under the 2015 Stock Incentive Plan. As of June 30, 2019, there were a total of 9,379,904 shares available for future issuance under the Stock Plans. New shares are issued from the Company’s balance of authorized Common Stock from the 2015 Stock Incentive Plan to satisfy stock option exercises and vesting of awards.
The Company recognized the following equity-based compensation expense and benefits in the Consolidated Statements of Operations:
The estimated fair value of the Company’s equity-based awards, less expected forfeitures, is amortized over the awards’ vesting terms on a straight-line basis.
Table:
 |  | YearEnded | 
 | June 30, 2019 | June 24, 2018 | June 25, 2017
 |  | (in thousands) | 
Equity-based compensation expense | $187,234 | $172,216 | $149,975
Income tax benefit recognized related to equity-based compensation | $47,396 | $87,505 | $38,381
Income tax benefit realized from the exercise and vesting of options and RSUs | $49,242 | $90,297 | $92,749


Question: How many shares were authorised for issuance under the 2015 Stock Incentive Plan?
Answer: up to 18,000,000 shares
Unaudited Pro Forma Financial Information
The unaudited pro forma financial information in the table below summarizes the combined results of operations for Oracle, Aconex and certain other companies that we acquired since the beginning of fiscal 2018 that were considered relevant for the purposes of unaudited pro forma financial information disclosure as if the companies were combined as of the beginning of fiscal 2018. The unaudited pro forma financial information for all periods presented included the business combination accounting effects resulting from these acquisitions, including amortization charges from acquired intangible assets (certain of which are preliminary), stock-based compensation charges for unvested restricted stock-based awards and stock options assumed, if any, and the related tax effects as though the aforementioned companies were combined as of the beginning of fiscal 2018. The unaudited pro forma financial information as presented below is for informational purposes only and is not necessarily indicative of the results of operations that would have been achieved if the acquisitions had taken place at the beginning of fiscal 2018 or 2019.
The unaudited pro forma financial information for fiscal 2019 presented the historical results of Oracle for fiscal 2019 and certain other companies that we acquired since the beginning of fiscal 2019 based upon their respective previous reporting periods and the dates these companies were acquired by us, and the effects of the pro forma adjustments listed above.
The unaudited pro forma financial information for fiscal 2018 combined the historical results of Oracle for fiscal 201 8 and the historical results of Aconex for the twelve month period ended December 31, 2017 (adjusted due to differences in reporting periods and considering the date we acquired Aconex) and certain other companies that we acquired since the beginning of fiscal 201 8 based upon their respective previous reporting periods and the dates these companies were acquired by us, and the effects of the pro forma adjustments listed above. The unaudited pro forma financial information was as follows:
Table:
 | Year Ended May 31, | 
(in millions, except per share data) | 2019 | 2018
Total revenues | $39,512 | $39,546
Net income | $11,076 | $3,500
Basic earnings per share | $3.05 | $0.85
Diluted earnings per share | $2.97 | $0.83


Question: What was the average total revenue over a 2 year period from 2018 to 2019?
Answer: 39529
Calculation: (39,512+ 39,546)/2
Research and development
Research and development expense consists primarily of salaries and other personnel-related costs; the cost of products, materials, and outside services used in our R&D activities; and depreciation and amortization expense associated with R&D specific facilities and equipment. We maintain a number of programs and activities to improve our technology and processes in order to enhance the performance and reduce the costs of our solar modules.
The following table shows research and development expense for the years ended December 31, 2019, 2018, and 2017:
Research and development expense in 2019 increased compared to 2018 primarily due to increased material and module testing costs and higher employee compensation expense.
Table:
 |  | Year Ended |  |  | Change |  | 
(Dollars in thousands) | 2019 | 2018 | 2017 | 2019 over 2018 |  | 2018 over 2017 | 
Research and development | $96,611 | $84,472 | $88,573 | $12,139 | 14% | $(4,101) | (5)%
% of net sales . | 3.2% | 3.8% | 3.0% |  |  |  | 


Question: What are the reasons for higher research and development expense in 2019?
Answer: Research and development expense in 2019 increased compared to 2018 primarily due to increased material and module testing costs and higher employee compensation expense.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (in thousands, except for share and per share data)
NOTE 3 — Accounts Receivable
The components of accounts receivable are as follows:
Table:
 | As of December 31, | 
 | 2019 | 2018
Accounts receivable, gross | $78,269 | $79,902
Less: Allowance for doubtful accounts | (261) | (384)
Accounts receivable, net | $78,008 | $79,518


Question: How many years did net accounts receivables exceed $75,000 thousand?
Answer: 2
Calculation: 2019##2018
MANAGEMENT DISCUSSION SNAPSHOT
* (1.0) percent adjusted for currency; 0.2 percent excluding divested businesses and adjusted for currency.
** 2019 results were impacted by Red Hat purchase accounting and acquisition-related activity.
+ Includes charges of $2.0 billion or $2.23 of diluted earnings per share in 2018 associated with U.S. tax reform.
++At December 31
Table:
($ and shares in millions except per share amounts) |  |  | 
For the year ended December 31: | 2019 | 2018 | Yr.-to-Yr. Percent/Margin Change**
Revenue | $ 77,147 | $ 79,591 | (3.1)%*
Gross profit margin | 47.3% | 46.4% | 0.9 pts.
Total expense and other (income) | $ 26,322 | $ 25,594 | 2.8%
Income from continuing operations before income taxes | $ 10,166 | $ 11,342 | (10.4)%
Provision for income taxes from continuing operations | $    731 | 2,619+ | (72.1)%
Income from continuing operations | $  9,435 | 8,723+ | 8.2%
Income from continuing operations margin | 12.2% | 11.0% | 1.3 pts.
Net income | $  9,431 | 8,728+ | 8.1%
Earnings per share from continuing operations—assuming dilution | $  10.57 | 9.51+ | 11.1%
Weighted-average shares outstanding—assuming dilution | 892.8 | 916.3 | (2.6)%
Assets++ | $152,186 | $123,382 | 23.3%
Liabilities++ | $131,202 | $106,452 | 23.2%
Equity++ | $ 20,985 | $ 16,929 | 24.0%


Question: What was the percentage increase / (decrease) in the net income from 2018 to 2019?
Answer: 8.05
Calculation: 9,431 / 8,728 - 1
The Group has non-current borrowing facilities denominated in Australian Dollars (“AUD”) and New Zealand Dollars (“NZD”). All facilities are interest only facilities with any drawn balances payable at maturity. Drawn amounts and facility limits are as follows:
The major terms of these agreements are as follows: • Maturity dates on the facilities range from 23 July 2020 to 23 December 2026 (2018: 23 July 2019 to 23 December 2026). • The interest rate applied is the bank bill rate plus a margin depending on the gearing ratio. • Security has been granted over the Group's freehold investment properties.
The Group has a bank overdraft facility with a limit of $3m that was undrawn at 30 June 2019 and 30 June 2018. During the year ended 30 June 2019, the Group converted an existing AUD facility of $25m into an NZD facility of $25.75m, refinanced part of the existing debt facilities, and increased its club banking facilities by AUD $100m and NZD $50m (year ended 30 June 2018 facilities increased by $150m AUD and $25m NZD).
The Group have complied with the financial covenants of their borrowing facilities during the 2019 and 2018 reporting periods (see note 16). The fair value of borrowings approximates carrying value. Details of the exposure to risk arising from current and non-current borrowings are set out in note 15.
Table:
 | 2019 | 2018
 | $'000 | $'000
Bank finance facilities (AUD) |  | 
Drawn amount | 663,800 | 520,300
Facility limit | 680,000 | 605,000
Bank finance facilities (NZD) |  | 
Drawn amount | 192,250 | 87,500
Facility limit | 196,750 | 121,000
AUD equivalent of NZD facilities |  | 
Drawn amount | 184,038 | 80,048
Facility limit | 188,346 | 110,696


Question: What is the drawn amount from bank finance facilities (AUD) in 2018?
Answer: 520,300
3.5 INCOME TAXES
(1) 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.
Fiscal 2019 income taxes expense amounted to $83.7 million compared to a recovery of $17.2 million for the prior year mainly attributable to: • the effect of the federal rate reduction in the second quarter of fiscal 2018 in the United States; • the increase in profit before income taxes which is mostly related to the impact of the MetroCast acquisition completed in the second quarter of fiscal 2018, and • the appreciation of the US dollar against the Canadian dollar compared to the prior year.
On March 19, 2019, the Department of Finance Canada confirmed the acceleration of tax depreciation on most capital investments for property, plant and equipment acquired after November 20, 2018, which phases out during the period from 2023 to 2028. The federal accelerated tax depreciation had a favorable impact on the current income tax expense of the Corporation in fiscal 2019. On March 21, 2019, the Québec Department of Finance confirmed that it would harmonize with the Federal legislation.
On December 22, 2017, the U.S. federal government enacted the Tax Cuts and Jobs Act (the "Act"). The tax reform reduced the general federal corporate tax rate from 35% to 21% starting after 2017 which reduced net deferred tax liabilities by approximately $94 million (US$74 million) in the second quarter of fiscal 2018. In addition, the Act calls for other changes such as interest deductibility limitations, full deduction of acquisitions of tangible assets, net operating losses limitations as well as base erosion anti-avoidance, which together with tax rate reductions, had an overall favorable impact on the income tax expense.
Table:
Years ended August 31, | 2019 | 2018 (1) | Change
(in thousands of dollars, except percentages) | $ | $ | %
Profit before income taxes | 440,563 | 367,380 | 19.9
Combined Canadian income tax rate | 26.50% | 26.50% | —
Income taxes at combined Canadian income tax rate | 116,749 | 97,356 | 19.9
Difference in operations' statutory income tax rates | 1,466 | (3) | —
Impact on deferred taxes as a result of changes in substantively enacted tax rates | 15 | (94,175) | —
Impact on income taxes arising from non-deductible expenses and non-taxable profit | (565) | 1,670 | —
Tax impacts related to foreign operations | (28,633) | (22,099) | 29.6
Other | (5,377) | 53 | —
 | 83,655 | (17,198) | —


Question: What was the increase / (decrease) in the Profit before income taxes from 2018 to 2019?
Answer: 73183
Calculation: 440,563 - 367,380
Reconciliations of total segment net revenues and total segment operating income to consolidated net revenues and consolidated income before income tax expense are presented in the table below (amounts in millions):
(1) Includes other income and expenses from operating segments managed outside the reportable segments, including our Distribution business. Also includes unallocated corporate income and expenses.
(2) Since certain of our games are hosted online or include significant online functionality that represents a separate performance obligation, we defer the transaction price allocable to the online functionality from the sale of these games and then recognize the attributable revenues over the relevant estimated service periods, which are generally less than a year. The related cost of revenues is deferred and recognized as an expense as the related revenues are recognized. This table reflects the net effect from the deferrals of revenues and recognition of deferred revenues, along with the related cost of revenues, on certain of our online enabled products.
(3) Intersegment revenues reflect licensing and service fees charged between segments.
(4) Reflects restructuring initiatives, which include severance and other restructuring-related costs.
(5) Reflects the impact of other unusual or unique tax‑related items and activities.
Table:
 | For the Years Ended December 31, | 
 | 2019 | 2018
Reconciliation to consolidated net revenues: |  | 
Segment net revenues | $5,969 | $6,835
Revenues from non-reportable segments (1) | 462 | 480
Net effect from recognition (deferral) of deferred net revenues (2) | 101 | 238
Elimination of intersegment revenues (3) | (43) | (53)
Consolidated net revenues | $6,489 | $7,500
Reconciliation to consolidated income before income tax expense: |  | 
Segment operating income | $2,054 | $2,446
Operating income (loss) from non-reportable segments (1) | 24 | 31
Net effect from recognition (deferral) of deferred net revenues and related cost of revenues (2) | 52 | 100
Share-based compensation expense | (166) | (209)
Amortization of intangible assets | (203) | (370)
Restructuring and related costs (4) | (137) | (10)
Discrete tax-related items (5) | (17) | —
Consolidated operating income | 1,607 | 1,988
Interest and other expense (income), net | (26) | 71
Loss on extinguishment of debt | — | 40
Consolidated income before income tax expense | $1,633 | $1,877


Question: What is the segment operating income in 2019?
Answer: $2,054
In the following table, we provide information regarding our common stock repurchases under our publicly-announced share repurchase program for the quarter ended December 31, 2019. All repurchases related to the share repurchase program were made on
the open market.
During the year ended December 31, 2019, we repurchased a total of 1,640,055 shares at an average price per share of $70.65 under our publicly-announced share repurchase program. In January 2020, our Board of Directors authorized the Company to repurchase up to an aggregate of $50 million of the Company’s common stock.
Table:
Period | Total number of Shares Purchased | Average Price Paid per Share | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs | Maximum Number (or Approximate Dollar Value) of Shares that May Yet Be Purchased Under the Plans or Programs
October 1 - October 31, 2019 | 13,425 | $78.21 | 13,425 | $48,950,059
November 1 - November 30, 2019 | 245,454 | 76.95 | 245,454 | 30,062,919
December 1 - December 31, 2019 | 185,973 | 80.95 | 185,973 | 15,008,242
Total | 444,852 |  | 444,852 | 


Question: What is the amount of share repurchase authorised by the board of directors in Janurary 2020?
Answer: $50 million
Discontinued Operations
In December 2015, we completed the wind down of engineering, manufacturing and sales of our solar inverter product line (the "inverter business"). Accordingly, the results of our inverter business have been reflected as “Income (loss) from discontinued operations, net of income taxes” on our Consolidated Statements of Operations for all periods presented herein.
The effect of our sales of the remaining extended inverter warranties to our customers continues to be reflected in deferred revenue in our Consolidated Balance Sheets. Deferred revenue for extended inverter warranties and the associated costs of warranty service will be reflected in Sales and Cost of goods sold, respectively, from continuing operations in future periods in our Consolidated Statement of Operations, as the deferred revenue is earned and the associated services are rendered. Extended warranties related to the inverter product line are no longer offered.
In May 2019, we divested our grid-tied central solar inverter repair and service operation. In conjunction with the divesture, the initial product warranty for the previously sold grid-tied central solar inverters was transferred to the buyer. Accordingly, a gain of $8.6 million net of tax expense of $2.4 million was recognized in Other income (expense) and Provision (benefit) for income taxes, respectively, in our discontinued operations for the year December 31, 2019. Operating income from discontinued operations for the year ended December 31, 2019 and 2018, also includes the impacts of changes in our estimated product warranty liability, the recovery of accounts receivable and foreign exchange gain or (losses).
Income (loss) from discontinued operations, net of income taxes (in thousands):
Table:
 | Years Ended December 31, | 
 | 2019 | 2018
Sales | $  — | $  —
Cost of sales | (901) | (88)
Total operating expense | 1,022 | 96
Operating income (loss) from discontinued operations | (121) | (8)
Other income (expense) | 10,895 | (24)
Income (loss) from discontinued operations before income taxes | 10,774 | (32)
Provision (benefit) for income taxes | 2,294 | 6
Income (loss) from discontinued operations, net of income taxes | $ 8,480 | $  (38)


Question: What was the total Income (loss) from discontinued operations, net of income taxes in 2019?
Answer: 8,480
Allocation of Goodwill to Reporting Segment
The following table shows our goodwill balances by reportable segment:
As noted above, it was determined under a quantitative assessment that there was no impairment of goodwill. However, if we become aware of indicators of impairment in future periods, we may be required to perform an interim assessment for some or all of our reporting units before the next annual assessment. Examples of such indicators may include a decrease in expected net earnings, adverse equity market conditions, a decline in current market multiples, a decline in our common stock price, a significant adverse change in legal factors or business climates, an adverse action or assessment by a regulator, unanticipated competition, strategic decisions made in response to economic or competitive conditions, or a more likely than not expectation that a reporting unit or a significant portion of a reporting unit will be sold or disposed of. In the event of significant adverse changes of the nature described above, we may have to recognize a non-cash impairment of goodwill, which could have a material adverse effect on our consolidated financial condition and results of operations.
Table:
(In millions) | Food Care | Product Care | Total
Gross Carrying Value at December 31, 2017 | $ 576.5 | $ 1,554.1 | $ 2,130.6
Accumulated impairment | (49.6 ) | (141.2) | (190.8)
Carrying Value at December 31, 2017 | $ 526.9 | $ 1,412.9 | $ 1,939.8
Acquisition, purchase price and other adjustments | (0.6 ) | 18.2 | 17.6
Currency translation | (6.6 ) | (3.2) | (9.8)
Gross Carrying Value at December 31, 2018 | $ 568.9 | $ 1,568.9 | $ 2,137.8
Accumulated impairment | (49.2 ) | (141.0) | (190.2)
Carrying Value at December 31, 2018 | $ 519.7 | $ 1,427.9 | $ 1,947.6
Acquisition, purchase price and other adjustments | 6.3 | 257.0 | 263.3
Currency translation | 2.0 | 4.1 | 6.1
Gross Carrying Value at December 31, 2019 | $ 577.2 | $ 1,830.0 | $ 2,407.2
Accumulated impairment | (49.3 ) | (141.0) | (190.3)
Carrying Value at December 31, 2019 | $ 527.9 | $ 1,689.0 | $ 2,216.9


Question: What is Total Accumulated impairment expressed as a percentage of Gross Carrying Value for 2019?
Answer: 7.91
Calculation: 190.3/2,407.2
13. Intangible assets continued
Goodwill has been allocated to three CGUs, which align with the reportable operating segments, as follows:
Table:
 | 2019 | 2018
 | $ million | $ million
Networks & Security | 73.4 | 72.0
Lifecycle Service Assurance | 37.6 | 37.6
Connected Devices | 46.1 | 46.1
 | 157.1 | 155.7


Question: What is the amount of intangible assets under Networks & Security in 2019?
Answer: 73.4