hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
NOTE 9. GOODWILL AND INTANGIBLES
A summary of goodwill activity follows (in thousands).
Table:
Year Ended December 31 |  | 
 | 2019 | 2018
Goodwill, beginning of period | $       3,178 | $           -
Golden Ridge acquisition | - | 3,178
MGI acquistion | 737 | -
Goodwill, end of period | $3,915 | $3,178


Question: What is the percentage change in goodwill at the end of the period at 2018 and 2019?
Answer: 23.19
Calculation: (3,915 - 3,178)/3,178
OPERATING AND FINANCIAL RESULTS
(1) For the three-month period ended August 31, 2019, the average foreign exchange rate used for translation was 1.3222 USD/CDN.
(2) Fiscal 2018 was restated to comply with IFRS 15 and to reflect a change in accounting policy as well as to reclassify results from Cogeco Peer 1 as discontinued
operations. For further details, please consult the "Accounting policies" and "Discontinued operations" sections.
(3) Fiscal 2019 actuals are translated at the average foreign exchange rate of the comparable period of fiscal 2018 which was 1.3100 USD/CDN.
Table:
Three months ended August 31, | 2019 (1) | 2018 (2) | Change | Change in constant currency | Foreign exchange impact
(in thousands of dollars, except percentages) | $ | $ | % | % | $
Revenue | 583,673 | 566,184 | 3.1 | 2.7 | 2,427
Operating expenses | 302,833 | 297,977 | 1.6 | 1.1 | 1,441
Management fees – Cogeco Inc. | 5,230 | 4,796 | 9.0 | 9.0 | -
Adjusted EBITDA | 275,610 | 263,411 | 4.6 | 4.3 | 986
Adjusted EBITDA margin | 47.2% | 46.5% |  |  | 


Question: What was the average operating expenses from three months ended August 31, 2018 to 2019?
Answer: 300405
Calculation: (302,833 + 297,977) / 2
( 5 ) we occupy approximately 350000 square feet of the one north end building . ( 6 ) this property is owned by board of trade investment company ( botic ) . kcbt maintains a 51% ( 51 % ) controlling interest in botic . we also lease other office space around the world and have also partnered with major global telecommunications carriers in connection with our telecommunications hubs whereby we place data cabinets within the carriers 2019 existing secured data centers . we believe our facilities are adequate for our current operations and that additional space can be obtained if needed . item 3 . legal proceedings see 201clegal and regulatory matters 201d in note 14 . contingencies to the consolidated financial statements beginning on page 91 for cme group 2019s legal proceedings disclosure which is incorporated herein by reference . item 4 . mine safety disclosures not applicable . part ii item 5 . market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities class a common stock our class a common stock is currently listed on nasdaq under the ticker symbol 201ccme . 201d as of february 13 , 2013 , there were approximately 3106 holders of record of our class a common stock . in may 2012 , the company 2019s board of directors declared a five-for-one split of its class a common stock effected by way of a stock dividend to its class a and class b shareholders . the stock split was effective july 20 , 2012 for all shareholders of record on july 10 , 2012 . as a result of the stock split , all amounts related to shares and per share amounts have been retroactively restated . the following table sets forth the high and low sales prices per share of our class a common stock on a quarterly basis , as reported on nasdaq. .

Table:
2012 first quarter | high $ 59.73 | low $ 45.20 | 2011 first quarter | high $ 63.40 | low $ 56.06
second quarter | 58.24 | 50.70 | second quarter | 62.15 | 52.45
third quarter | 59.35 | 49.83 | third quarter | 59.80 | 47.43
fourth quarter | 57.89 | 50.12 | fourth quarter | 59.73 | 45.20
class b common stock our class b common stock is not listed on a national securities exchange or traded in an organized over- the-counter market .
each class of our class b common stock is associated with a membership in a specific division of our cme exchange .
cme 2019s rules provide exchange members with trading rights and the ability to use or lease these trading rights .
each share of our class b common stock can be transferred only in connection with the transfer of the associated trading rights. .

Question: what is the maximum change in share price during the fourth quarter of 2012?
Answer: 7.77
Calculation: subtract(57.89, 50.12)
The Corporation is also exposed to credit risk in relation to its trade accounts receivable. To mitigate such risk, the Corporation continuously monitors the financial condition of its customers and reviews the credit history or worthiness of each new large customer. The Corporation establishes an allowance for lifetime expected credit losses related to doubtful accounts. The doubtful accounts allowance is calculated on a specific-identification basis for larger customer accounts receivable and on a statistically derived basis for the remainder.
Factors such as the current economic conditions, forward-looking macroeconomic data and historical information (number of overdue days of the customer’s balance outstanding as well as the customer’s collection history) are examined. The Corporation believes that its allowance for doubtful accounts is sufficient to cover the related credit risk.
The Corporation has credit policies in place and has established various credit controls, including credit checks, deposits on accounts and advance billing, and has also established procedures to suspend the availability of services when customers have fully utilized approved credit limits or have violated existing payment terms. Since the Corporation has a large and diversified clientele dispersed throughout its market areas in Canada and the United States, there is no significant concentration of credit risk.
The following table provides further details on trade and other receivables, net of allowance for doubtful accounts:
Table:
At August 31, | 2019 | 2018
(In thousands of Canadian dollars) | $ | $
Trade accounts receivable | 74,021 | 95,541
Allowance for doubtful accounts | (6,759) | (6,497)
 | 67,262 | 89,044
Other accounts receivable | 8,390 | 8,250
 | 75,652 | 97,294


Question: What is the basis for the doubtful accounts receivable calculation?
Answer: The doubtful accounts allowance is calculated on a specific-identification basis for larger customer accounts receivable and on a statistically derived basis for the remainder.
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 is the percentage of net sales in 2017?
Answer: 3.0%
Cost of Revenues and Gross Margin
Subscription cost of revenues and gross margin. Cost of subscriptions revenues increased by $50.9 million, or 46%, during fiscal year 2019 as compared to fiscal year 2018. Primary drivers of the increase were increases in third-party costs to support our solution offerings of $21.5 million, infrastructure support costs of $19.8 million including amortization expense from acquired intangible assets, and headcount and personnel and contractor related costs of $9.6 million including share-based compensation expense. These factors resulted in a decrease in gross margin.
The increase in headcount and other expense categories described herein was driven primarily by investments in our infrastructure and capacity to improve the availability of our subscription offerings, while also supporting the growth in new customers and increased usage of our subscriptions by our existing customer base. We expect subscription gross margin to be within a relatively similar range in the future.
Other cost of revenues and gross margin. Cost of other revenues increased by $23.0 million, or 48%, during fiscal year 2019 as compared to fiscal year 2018. This was primarily due to the increase in services personnel costs of $11.1 million including share-based compensation expense, cost of product sales of $10.6 million, and overhead costs of $1.3 million. Other revenues gross margin fluctuates based on timing of completion of professional services projects and discounting on phones.
Table:
 | Year ended December 31, |  |  |  | Year ended December 31, |  |  | 
(in thousands, except percentages) | 2019 | 2018 | $ Change | % Change | 2018 | 2017 | $ Change | % Change
Cost of revenues |  |  |  |  |  |  |  | 
Subscriptions | $160,320 | $109,454 | $50,866 | 46% | $109,454 | $89,193 | $20,261 | 23%
Other | 70,723 | 47,675 | 23,048 | 48% | 47,675 | 32,078 | 15,597 | 49%
Total cost of revenues | $231,043 | $157,129 | $73,914 | 47% | $157,129 | $121,271 | $35,858 | 30%
Percentage of revenues |  |  |  |  |  |  |  | 
Subscriptions | 18% | 16% |  |  | 16% | 18% |  | 
Other | 8% | 7% |  |  | 7% | 6% |  | 
Gross margins |  |  |  |  |  |  |  | 
Subscriptions | 80% | 82% |  |  | 82% | 81% |  | 
Other | 17% | 22% |  |  | 22% | 16% |  | 
Total gross margin % | 74% | 77% |  |  | 77% | 76% |  | 


Question: What are the respective drivers of the company's increased cost of revenue in 2019?
Answer: third-party costs to support our solution offerings, infrastructure support costs, headcount and personnel and contractor related costs
Realization of net operating loss carryforwards and other deferred tax temporary differences are contingent upon future taxable earnings. The Company’s deferred tax assets were reviewed for expected utilization by assessing the available positive and negative factors surrounding their recoverability.
As of September 30, 2018, the Company’s remaining valuation allowance of approximately $105,000 related to state net operating loss carry forwards. During the fourth quarter of 2019, the Company reversed approximately $58,000 of its valuation allowance. This consisted of decreasing the valuation allowance for the expiration and utilization of state net operating losses in 2019 of approximately $68,000 and increasing the valuation allowance by approximately $10,000 for future expected NOL utilization based on updated profitability estimates and changes to the loss utilization rules. The remaining valuation allowance balance as of September 30, 2019 of approximately $47,000 relates entirely to state net operating loss carry forwards we do not expect to utilize. The Company will continue to assess the assumptions used to determine the amount of our valuation allowance and may adjust the valuation allowance in future periods based on changes in assumptions of estimated future income and other factors. If the valuation allowance is reduced, we would record an income tax benefit in the period the valuation allowance is reduced. If the valuation allowance is increased, we would record additional income tax expense.
Significant components of deferred income tax assets and liabilities are as follows at:
Table:
 | September 30, 2019 | September 30, 2018
Deferred income tax assets (liabilities): |  | 
Intangibles | $(75,190) | $(70,467)
Property and equipment depreciation | (521,586) | (552,119)
Net operating loss carry forwards and credits | 377,505 | 464,274
Stock-based compensation | 114,118 | 151,558
Inventories | 350,197 | 400,111
Prepaid expenses | (63,252) | (60,806)
Accrued expenses and reserves | 371,414 | 250,787
Goodwill | (607,882) | (583,415)
Gross deferred tax liability | (54,676) | (77)
Valuation allowance | (47,014) | (104,858)
Net deferred tax liability | $(101,690) | $(104,935)


Question: What is the approximate amount of valuation allowance that the Company has reversed in the forth quarter of 2019?
Answer: $58,000
Subscription Revenue by Segment
Our subscription revenue is comprised primarily of fees we charge for our subscription and hosted service offerings including Creative Cloud and certain of our Digital Experience and Document Cloud services. We recognize subscription revenue ratably over the term of agreements with our customers, beginning with commencement of service.
We have the following reportable segments: Digital Media, Digital Experience and Publishing. Subscription revenue by reportable segment for fiscal 2019, 2018 and 2017 is as follows:
(*) Percentage is less than 1%
Our product revenue is primarily comprised of revenue from distinct on-premise software licenses recognized at a point in time and certain of our OEM and royalty agreements. Our services and support revenue is comprised of consulting, training and maintenance and support, primarily related to the licensing of our enterprise offerings and the sale of our hosted Digital Experience services. Our support revenue also includes technical support and developer support to partners and developer organizations related to our desktop products. Our maintenance and support offerings, which entitle customers to receive desktop product upgrades and enhancements or technical support, depending on the offering, are generally recognized ratably over the term of the arrangement.
Table:
(dollars in millions) | 2019 | 2018 | 2017 | % Change 2019 - 2018
Digital Media | $7,208.3 | $5,857.7 | $4,480.8 | 23%
Digital Experience | 2,670.7 | 1,949.3 | 1,552.5 | 37%
Publishing | 115.5 | 115.2 | 100.6 | *
Total subscription revenue | $9,994.5 | $7,922.2 | $6,133.9 | 26%


Question: What does their services and support revenue comprise of?
Answer: consulting, training and maintenance and support, primarily related to the licensing of our enterprise offerings and the sale of our hosted Digital Experience services.
Restricted Stock Units
A summary of the Company’s restricted stock unit activity is as follows:
Performance-Based Restricted Stock Units
Performance-based restricted stock units are eligible to vest at the end of each fiscal year in a three-year performance period based on the Company’s annual growth rate in net sales and non-GAAP diluted earnings per share (subject to certain adjustments) over a multiple of four times the related results for the fourth quarter of 2018 relative to the growth rates for a peer group of companies for the same metrics and periods.
For the performance-based restricted stock units granted in 2019, 60% of each performance-based award is subject to the net sales metric for the performance period and 40% is subject to the non-GAAP diluted earnings per share metric for the performance period. The maximum percentage for a particular metric is2 50% of the target number of units subject to the award related to that metric, however, vesting of the performance stock units is capped at 30% and 100%, respectively, of the target number of units subject to the award in years one and two, respectively, of the three-year performance period.
As of December 31, 2019, the Company believes that it is probable that the Company will achieve performance metrics specified in the award agreement based on its expected revenue and non-GAAP diluted EPS results over the performance period and calculated growth rates relative to its peers’ expected results based on data available, as defined in the award agreement.
Table:
 | Number of Shares | Weighted-Average Grant-Date
 | (in thousands) | Fair Value per Share
Outstanding at December 31, 2018 | 3,263 | $20.23
Granted | 1,580 | 23.23
Vested | (1,541) | 20.16
Canceled | (378) | 21.52
Outstanding at December 31, 2019 | 2,924 | 21.72


Question: What percentage of outstanding at 2019 was granted?
Answer: 54.04
Calculation: 1,580 / 2,924
The pre-tax discount rate used within the recoverable amount calculations was 8.5% (2018: 8.0%) and is based upon the weighted average cost of capital reflecting specific principal risks and uncertainties. The discount rate takes into account the risk-free rate of return, the market risk premium and beta factor reflecting the average beta for the Group and comparator companies which are used in deriving the cost of equity.
The same discount rate has been applied to both CGUs as the principal risks and uncertainties associated with the Group, as highlighted on pages 30 to 33, would also impact each CGU in a similar manner. The Board acknowledges that there are additional factors that could impact the risk profile of each CGU, which have been considered by way of sensitivity analysis performed as part of the annual impairment tests.
Key drivers to future growth rates are dependent on the Group’s ability to maintain and grow income streams whilst effectively managing operating costs. The level of headroom may change if different growth rate assumptions or a different pre-tax discount rate were used in the cash flow projections. Where the value-in-use calculations suggest an impairment, the Board would consider alternative use values prior to realising any impairment, being the fair value less costs to dispose.
The key assumptions used for value-in-use calculations are as follows:
Having completed the 2019 impairment review, no impairment has been recognised in relation to the CGUs (2018: no impairment). Sensitivity
analysis has been performed in assessing the recoverable amounts of goodwill. There are no changes to the key assumptions of growth rate or
discount rate that are considered by the Directors to be reasonably possible, which give rise to an impairment of goodwill relating to the CGUs.
Table:
 | 2019 | 2018
Annual growth rate (after plan period) | 3.0% | 3.0%
Risk free rate of return | 3.0% | 3.0%
Market risk premium | 5.0% | 4.9%
Beta factor | 0.83 | 0.79
Cost of debt | 3.3% | 3.3%


Question: What was the change in the Beta factor in 2019 from 2018?
Answer: 0.04
Calculation: 0.83-0.79
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: What was the percentage change in staff costs in 2019 from 2018?
Answer: 2.75
Calculation: (-56.0-(-54.5))/-54.5
Consolidated Financial Results
Operating Expenses
The following table sets forth operating expenses by segment for the periods presented (in millions):
The increase in Operating Expenses was primarily driven by higher net personnel costs, technology-related costs and acquisition-related costs in our Software Solutions segment. The increase in our Data and Analytics segment primarily related to higher net personnel costs and higher data costs related to revenue growth. The decrease in Corporate and Other was primarily driven by lower incentive bonus expense.
Table:
 | Year ended December 31, |  | Variance | 
 | 2019 | 2018 | $ | %
Software Solutions | $412.7 | $394.8 | $17.9 | 5%
Data and Analytics | 123.4 | 115.0 | 8.4 | 7%
Corporate and Other | 109.9 | 115.6 | (5.7) | (5)%
Total | $646.0 | $625.4 | $20.6 | 3%


Question: What was the average revenue from Corporate and Other between 2018 and 2019?
Answer: 112.75
Calculation: (109.9+115.6)/2
29. Contract balances
The following table provides information about receivables and contract liabilities from contracts with customers. The Group does not have any contract assets.
There was no revenue recognised in 2019, 2018 or 2017 from performance obligations satisfied in previous periods.
The timing of revenue recognition, invoicing and cash collections results in trade receivables, deferred income and advance customer payments received on account on the balance sheet.
The Group receives payments from customers based on a billing schedule, as established in the contract. Trade receivables are recognised when the right to consideration becomes unconditional. Contract liabilities are recognised as revenue as (or when) the Group performs under the contract.
The Group also recognises incremental costs incurred to obtain a contract as an asset if it expects to recover those costs. Such costs are presented in the balance sheet as assets recognised from costs to obtain a contract and disclosed in note 21.
Table:
 |  | 2019 | 2018 | 2017
 | Notes | $ million | $ million | $ million
Trade receivables | 20 | 128.7 | 123.4 | 113.8
Contract liabilities |  |  |  | 
Payments received on account | 23 | 2.3 | 1.0 | 3.8
Deferred income | 25 | 66.8 | 69.6 | 72.7
 |  | 69.1 | 70.6 | 76.5
Revenue recognised in the period from amounts included in contract liabilities at the beginning of the period |  | 56.2 | 65.5 | 62.1


Question: For which years does the table provide information about receivables and contract liabilities from contracts with customers?
Answer: 2019, 2018, 2017
ADVANCED ENERGY INDUSTRIES, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (continued) (in thousands, except per share amounts)
The information provided below includes one pension plan which is part of discontinued operations. As such, all related liabilities and expenses are reported in discontinued operations in the Company’s Consolidated Balance Sheets and Consolidated Statements of Operations for all periods presented.
The components of net periodic pension benefit cost recognized in our Consolidated Statements of Operations for the periods presented are as follows:
Table:
 |  | Years Ended December 31, | 
 | 2019 | 2018 | 2017
Service cost | $272 | $841 | $  —
Interest cost | 1,211 | 802 | 809
Expected return on plan assets | (615) | (665) | (597)
Amortization of actuarial gains and losses | 411 | 478 | 503
Net periodic pension cost | $1,279 | $1,456 | $715


Question: What was the percentage change in Interest cost between 2018 and 2019?
Answer: 51
Calculation: (1,211-802)/802
Notes:
(1) Mobile penetration rate, market share and market position pertained to India market only.
(2) Based on number of mobile customers.
(3) Compared against 31 March 2018 and based on aggregate mobile customers.
Table:
 | Telkomsel | AIS | Airtel (1) | Globe
Country mobile penetration rate | 123% | 139% | 90% | 138%
Market share, 31 March 2019 (2) | 51.1% | 45.2% | 28.0% | 56.6%
Market share, 31 March 2018 (2) | 48.5% | 44.8% | 25.7% | 52.1%
Market position (2) | #1 | #1 | #2 | #1
Mobile customers (‘000) |  |  |  | 
- Aggregate | 168,642 | 41,491 | 384,078 | 83,490
- Proportionate | 59,025 | 9,676 | 144,770 | 39,307
Growth in mobile customers (3) (%) | -13% | 3.6% | -2.9% | 32%


Question: What is the % growth of mobile customers for AIS?
Answer: 3.6%
Operating Expenses
The following table sets forth, for the periods indicated, the amount of operating expenses and their relative percentages of total net sales by the line items reflected in our consolidated statement of operations (dollars in thousands):
Table:
 | Fiscal 2019 |  | Fiscal 2018 | 
 | Amount | Percentage of total net sales | Amount | Percentage of total net sales
 |  | (Dollars in thousands) |  | 
Research and development | $117,353 | 8.2% | $132,586 | 7.0%
Selling, general and administrative | 272,257 | 19.0% | 293,632 | 15.4%
Impairment and other charges | — | —% | 766 | —%
Amortization of intangible assets | 13,760 | 1.0% | 10,690 | 0.6%
Total operating expenses | $403,370 | 28.2% | $437,674 | 23.0%


Question: In which year was Amortization of intangible assets a higher percentage of total net sales?
Answer: 2019
Calculation: 1.0%>0.6%