hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
Contract Balances
Our contract assets consist of unbilled amounts for technology development contracts as well as custom product contracts. Also included in contract assets are royalty revenue and carrying amounts of right of returned inventory. Long-term contract assets include the fee withholding on cost reimbursable contracts that will not be billed within a year. Contract liabilities include excess billings, subcontractor accruals, warranty expense, extended warranty revenue, right of return refund, and customer deposits. The net contract (liabilities)/assets changed by $1.0 million, due primarily to increased contract liabilities in addition to a slight increase in contract assets. The increase in contract liabilities is a result of the increased number of government research programs in addition to an increase in the number of our fixed-price contracts that have reached milestones as designated in their respective contracts, but revenue has not yet been recognized. The increase in contract assets is primarily driven by the unbilled fee required by our cost-reimbursable government contracts, which cannot be fully billed until after the specific contract is complete.
The following table shows the components of our contract balances as of December 31, 2019 and 2018:
Table:
 | December 31, | 
 | 2019 | 2018
Contract assets | $3,208,206 | $2,759,315
Contract liabilities | (3,887,685) | (2,486,111)
   Net contract assets | $(679,479) | $273,204


Question: What is the average Contract assets for December 31, 2018 and 2019?
Answer: 2983760.5
Calculation: (3,208,206+2,759,315) / 2
Subsequent to origination, the delinquency and write-off experience is monitored as key credit quality indicators for the portfolio of device payment plan agreement receivables and fixed-term service plans. The extent of collection efforts with respect to a particular customer are based on the results of proprietary custom empirically derived internal behavioral-scoring models that analyze the customer’s past performance to predict the likelihood of the customer falling further delinquent.
These customer-scoring models assess a number of variables, including origination characteristics, customer account history and payment patterns. Based on the score derived from these models, accounts are grouped by risk category to determine the collection strategy to be applied to such accounts.
Collection performance results and the credit quality of device payment plan agreement receivables are continuously monitored based on a variety of metrics, including aging. An account is considered to be delinquent and in default status if there are unpaid charges remaining on the account on the day after the bill’s due date.
At December 31, 2019 and 2018, the balance and aging of the device payment plan agreement receivables on a gross basis was as follows:
Table:
 | 2019 | 2018
Unbilled | $ 12,403 | $ 11,485
Billed: |  | 
Current | 815 | 641
Past due | 262 | 209
Device payment plan agreement receivables, gross | $ 13,480 | $ 12,335


Question: What is the function of customer-scoring models?
Answer: assess a number of variables, including origination characteristics, customer account history and payment patterns
Return on invested capital (ROIC)
ROIC measures the after tax return on the total capital invested in the business. It is calculated as adjusted operating profit after tax divided by average invested capital.
An analysis of the components is as follows:
Table:
 | 2019 | 2018
 | £m | £m
Total equity | 826.3 | 766.9
Net debt | 334.1 | 235.8
Total invested capital | 1,160.4 | 1,002.7
Average invested capital | 1,081.6 | 992.9
Average invested capital (excluding IFRS 16) | 1,061.2 | 992.9
Operating profit as reported under IFRS | 245.0 | 299.1
Adjustments (see adjusted operating profit) | 37.7 | (34.2)
Adjusted operating profit | 282.7 | 264.9
Taxation | (80.6) | (73.1)
Adjusted operating profit after tax | 202.1 | 191.8
Adjusted operating profit after tax (excluding IFRS 16) | 201.2 | 191.8
Return in invested capital | 18.7% | 19.3%
Return in invested capital (excluding IFRS 16) | 19.0% | 19.3%


Question: In which year was the amount of adjusted operating profit after tax (excluding IFRS 16) larger?
Answer: 2019
Calculation: 201.2>191.8
Amounts in the financial statements Group income statement
The expense or income arising from all group retirement benefit arrangements recognised in the group income statement is shown below.
a Relates to the removal of future indexation obligations following changes to the benefits provided under certain pension plans operating outside the UK in 2017/18. b All employees impacted by the closure of the BTPS receive transition payments into their BTRSS pot for a period linked to the employee’s age. There was no past service cost or credit on closure due to the assumed past service benefit link as an active member being the same as that assumed for a deferred member.
c In October, a High Court judgment involving the Lloyds Banking Group’s defined benefit pension schemes was handed down, resulting in the group needing to recognise additional liability to equalise benefits between men and women due to GMPs, in common with most UK defined benefit schemes.
Table:
 | 2019 | 2018 | 2017
Year ended 31 March | £m | £m | £m
Recognised in the income statement before specific items |  |  | 
Service cost (including administration expenses & PPF levy: |  |  | 
defined benefit plans | 135 | 376 | 281
defined contribution plans | 476 | 265 | 240
Past service credit a | – | (17) | –
Subtotal | 611 | 624 | 521
Recognised in the income statement as specific items (note 10) |  |  | 
Costs to close BT Pension Scheme and provide transition paymentsb for affected employees | 23 | – | –
Cost to equalise benefits between men and women due to guaranteed minimum pension (GMP) c | 26 | – | –
Net interest expense on pensions deficit included in specific items | 139 | 218 | 209
Subtotal | 188 | 218 | 209
Total recognised in the income statement | 799 | 842 | 730


Question: What was the result of the closure of the BTPS on the employees?
Answer: All employees impacted by the closure of the BTPS receive transition payments into their BTRSS pot for a period linked to the employee’s age.
NAVIOS MARITIME HOLDINGS INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Expressed in thousands of U.S. dollars — except share data)
NOTE 6: PREPAID EXPENSES AND OTHER CURRENT ASSETS
Prepaid expenses and other current assets consisted of the following:
Claims receivable mainly represents claims against vessels’ insurance underwriters in respect of damages arising from accidents or other insured risks, as well as claims under charter contracts including off-hires. While it is anticipated that claims receivable will be recovered within one year, such claims may not all be recovered within one year due to the attendant process of settlement. Nonetheless, amounts are classified as current as they represent amounts currently due to the Company. All amounts are shown net of applicable deductibles.
As of December 31, 2018, claims receivable include $11,571 related to insurance claim at the iron ore port terminal in Nueva Palmira, Uruguay.
Table:
 | December 31, 2019 | December 31, 2018
Prepaid voyage and operating costs | $5,726 | $9,261
Claims receivable | 3,826 | 22,224
Prepaid other taxes | 1,012 | 2,682
Advances for working capital purposes | — | 18
Other | 1,675 | 6,005
Total prepaid expenses and other current assets | $12,239 | $40,190


Question: How many years did Total prepaid expenses and other current assets exceed $20,000 thousand?
Answer: 1
Calculation: 2018
Comprehensive Income — Comprehensive income includes net income, currency translation adjustments, certain derivative-related activity, changes in the value of available-for-sale investments (prior to the adoption of Accounting Standards Update ("ASU") 2016-01), and changes in prior service cost and net actuarial gains (losses) from pension (for amounts not in excess of the 10% "corridor") and postretirement health care plans. On foreign investments we deem to be essentially permanent in nature, we do not provide for taxes on currency translation adjustments arising from converting an investment denominated in a foreign currency to U.S. dollars. When we determine that a foreign investment, as well as undistributed earnings, are no longer permanent in nature, estimated taxes will be provided for the related deferred tax liability (asset), if any, resulting from currency translation adjustments.
The following table details the accumulated balances for each component of other comprehensive income, net of tax:
1 Net of unrealized gains on available-for-sale securities reclassified to retained earnings as a result of the adoption of ASU 2016-01 in fiscal 2019 and net of stranded tax effects from change in tax rate as a result of the early adoption of ASU 2018-02 in fiscal 2018 in the amount of $0.6 million and $17.4 million, respectively.
Notes to Consolidated Financial Statements - (Continued) Fiscal Years Ended May 26, 2019, May 27, 2018, and May 28, 2017 (columnar dollars in millions except per share amounts)
Table:
 | 2019 | 2018 | 2017
Currency translation losses, net of reclassification adjustments | $(90.9) | $(94.7) | $(98.6)
Derivative adjustments, net of reclassification adjustments | 34.0 | 1.0 | (1.1)
Unrealized gains (losses) on available-for-sale securities | — | 0.6 | (0.3)
Pension and post-employment benefit obligations, net of reclassification adjustments | (53.4) | (17.4) | (112.9)
Accumulated other comprehensive loss 1 | $(110.3) | $(110.5) | $(212.9)


Question: What are the proportion of currency translation losses and derivative adjustments over accumulated other comprehensive loss in 2017?
Answer: 0.47
Calculation: (-98.6+(-1.1))/(-212.9)
The following table summarizes the activity related to stock options during the year ended December 31, 2019
As of December 31, 2019, the Company had $1,641 of unrecognized stock-based compensation expense related to the stock options. This cost is expected to be recognized over a weighted-average period of 2.5 years.
(Dollars in thousands, except per share amounts)
Table:
 | Number of Shares | Weighted-Average Exercise Price | Weighted Average Remaining Contractual Life (in years) | Aggregated Intrinsic Value (in thousands)
Stock options outstanding - December 31, 2018 | - | - - |  | 
Granted | 5,835,724 | $0.56 |  | 
Forfeited or expired | (20,000) | $0.55 |  | 
Stock options outstanding - December 31, 2019 | 5,815,724 | $0.56 | 9.6 years | $2,725
Stock options exercisable - December 31, 2019 | 137,500 | $0.55 | 9.6 years | $66


Question: What are the respective stock options outstanding and exercisable at December 31, 2019?
Answer: 5,815,724, 137,500
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 ratio of Ms. Henry’s to Ms. Whiteley’s Number of Securities Underlying Options?
Answer: 2.29
Calculation: 109,026 / 47,699
5. Income taxes:
On December 22, 2017, the President of the United States signed into law the Tax Cuts and Jobs Act (the "TCJA"). The TCJA amended the Internal Revenue Code and reduced the corporate tax rate from a maximum of 35% to a flat 21% rate. The rate reduction was effective on January 1, 2018. The Company's net deferred tax assets represent a decrease in corporate taxes expected to be paid in the future. Under generally accepted accounting principles deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The Company's net deferred tax asset was determined based on the current enacted federal tax rate of 35% prior to the passage of the Act. As a result of the reduction in the corporate income tax rate from 35% to 21% and other provisions under the TCJA, the Company made reasonable estimates of the effects of the TCJA and revalued its net deferred tax asset at December 31, 2017 resulting in a reduction in the value of its net deferred tax asset of approximately $9.0 million and recorded a transition tax of $2.3 million related to its foreign operations for a total of $11.3 million, which was recorded as additional noncash income tax expense in the year ended December 31, 2017. As of December 31, 2018, the Company had collected all of the necessary data to complete its analysis of the effect of the TCJA on its underlying deferred income taxes and recorded a $0.1 million reduction in the value to its net deferred tax asset. The TCJA subjects a U.S. shareholder to current tax on global intangible low-taxed income earned by certain foreign subsidiaries. FASB Staff Q&A, Topic 740, No. 5, "Accounting for Global Intangible Low-Taxed Income", states that the Company is permitted to make an accounting policy election to either recognize deferred income taxes for temporary basis differences expected to reverse as global intangible low-taxed income in future years or provide for the income tax expense related to such income in the year the income tax is incurred. The Company has made an accounting policy to record these income taxes as a period cost in the year the income tax in incurred.
The components of income (loss) before income taxes consist of the following (in thousands):
Table:
 |  | Years Ended December 31, | 
 | 2019 | 2018 | 2017
Domestic | $72,773 | $63,878 | $52,250
Foreign | (20,099) | (22,496) | (21,132)
Total income before income taxes | $52,674 | $41,382 | $31,118


Question: What is the average foreign losses before income taxes in 2017 and 2018?
Answer: 21814
Calculation: (21,132 + 22,496)/2
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (in thousands, except for share and per share data)
Following the enactment of the 2017 Tax Cut and Jobs Act and the associated one-time transition tax, in general, repatriation of foreign earnings to the US can be completed with no incremental US Tax. However, there are limited other taxes that continue to apply such as foreign withholding and certain state taxes. The company records a deferred tax liability for the estimated foreign earnings and state tax cost associated with the undistributed foreign earnings that are not permanently reinvested.
The Tax Act also includes provisions for Global Intangible Low-Taxed Income (“GILTI”) wherein taxes on foreign income are imposed in excess of a deemed return on tangible assets of foreign corporations. We elected to recognize the tax on GILTI as an expense in the period the tax is incurred.
We recognize the financial statement benefit of a tax position when it is more-likely-than-not, based on its technical merits, that the position will be sustained upon examination. A tax position that meets the more-likely-than-not threshold is then measured to determine the amount of benefit to be recognized in the financial statements. As of December 31, 2019, we have approximately $5,016 of unrecognized tax benefits, which if recognized, would impact the effective tax rate. We do not anticipate any significant changes in our unrecognized tax benefits within the next 12 months.
A reconciliation of the beginning and ending unrecognized tax benefits is provided below:
Our continuing practice is to recognize interest and/or penalties related to unrecognized tax benefits as income tax expense. As of December 31, 2019, and 2018, $707 and $2,515, respectively, of interest and penalties were accrued.
We are subject to taxation in the U.S., various states, and in non-U.S. jurisdictions. Our U.S. income tax returns are primarily subject to examination from 2016 through 2018; however, U.S. tax authorities also have the ability to review prior tax years to the extent loss carryforwards and tax credit carryforwards are utilized. The open years for the non-U.S. tax returns range from 2008 through 2018 based on local statutes.
Table:
 | As of December 31, | 
 | 2019 | 2018
Balance at January 1 | $3,649 | $4,670
Increase related to current year tax positions | 2,834 | 55
(Decrease) increase related to prior year tax positions | (10) | 46
Decrease related to lapse in statute of limitation | (1,457) | (1,076)
Decrease related to settlements with taxing authorities | — | (46)
Balance at December 31 | $5,016 | $3,649


Question: What was the change in the Increase related to current year tax positions between 2018 and 2019?
Answer: 2779
Calculation: 2,834-55
Earnings per Share—Basic earnings per share were calculated using net earnings and the weighted-average number of shares of common stock outstanding during the respective year. Diluted earnings per share were calculated using net earnings and the weighted-average number of shares of common stock and potential common stock associated with stock options outstanding during the respective year. The effects of potential common stock were determined using the treasury stock method:
As of and for the years ended December 31, 2019, 2018 and 2017, there were 0.627, 0.724 and 0.478 outstanding stock options, respectively, that were not included in the determination of diluted earnings per share because doing so would have been antidilutive.
Table:
Years ended December 31, |  |  | 
 | 2019 | 2018 | 2017
Basic weighted-average shares outstanding | 103.9 | 103.2 | 102.2
Effect of potential common stock: |  |  | 
Common stock awards | 1.2 | 1.2 | 1.3
Diluted weighted-average shares outstanding | 105.1 | 104.4 | 103.5


Question: How are the effects of potential common stock determined?
Answer: using the treasury stock method
Operating Expenses
Cost of Services Cost of services increased $549 million, or 3.6%, during 2019 compared to 2018, primarily due to increases in rent expense as a result of adding capacity to the networks to support demand as well as an increase due to the adoption of the new lease accounting standard in 2019, increases in costs related to the device protection package offered to our wireless retail postpaid customers, as well as regulatory fees.
These increases were partially offset by decreases in employee-related costs primarily due to the Voluntary Separation Program, as well as decreases in access costs and roaming.
Cost of Wireless Equipment Cost of wireless equipment decreased $544 million, or 2.9%, during 2019 compared to 2018, primarily as a result of declines in the number of wireless devices sold as a result of an elongation of the handset upgrade cycle. These decrease were partially offset by a shift to higher priced devices in the mix of wireless devices sold.
Selling, General and Administrative Expense Selling, general and administrative expense increased $938 million, or 6.0%, during 2019 compared to 2018, primarily due to increases in sales commission and bad debt expense, and an increase in advertising costs. The increase in sales commission expense during 2019 compared to 2018 was primarily due to a lower net deferral of commission costs as a result of the adoption of Topic 606 on January 1, 2018 using a modified retrospective approach.
These increases were partially offset by decreases in employee-related costs primarily due to the Voluntary Separation Program.
Depreciation and Amortization Expense Depreciation and amortization expense decreased $599 million, or 5.0%, during 2019 compared to 2018, driven by the change in the mix of total Verizon depreciable assets and Consumer’s usage of those assets.
Table:
 |  |  | (dollars in millions) Increase/ (Decrease) | 
Years Ended December 31, | 2019 | 2018 | 2019 vs. 2018 | 
Cost of services  | $15,884 | $15,335 | $ 549 | 3.6%
Cost of wireless equipment  | 18,219 | 18,763 | (544) | (2.9)
Selling, general and administrative expense  | 16,639 | 15,701 | 938 | 6.0
Depreciation and amortization expense  | 11,353 | 11,952 | (599) | (5.0)
Total Operating Expenses  | $ 62,095 | $ 61,751 | $ 344 | 0.6


Question: What is the total operating expenses in 2019?
Answer: $ 62,095
Cash and Cash Equivalents and Restricted Cash: Cash equivalents include short-term highly liquid investments and are classified as Level 1 in the fair value hierarchy described below. Restricted cash represents cash received from customers to settle invoices sold under accounts receivable purchase agreements that is contractually required to be set aside. The restrictions will lapse when the cash is remitted to the purchaser of the receivables. Restricted cash is also classified as Level 1 in the fair value hierarchy described below.
As of September 28, 2019 and September 29, 2018, cash and cash equivalents and restricted cash consisted of the following (in thousands):
Table:
 | 2019 | 2018
Cash | $85,688 | $99,197
Money market funds and other | 138,073 | 198,072
Restricted cash | 2,493 | 417
Total cash and cash equivalents and restricted cash | 226,254 | 297,686


Question: What was the amount of Cash in 2018?
Answer: 99,197
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: How is diluted adjusted earnings per share defined as?
Answer: adjusted profit for the period attributable to equity holders divided by the diluted weighted average number of shares