hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
d) Transaction with other related parties:
Net revenues/(expenses): The transactions with other related parties for the years ended December 31, 2019, 2018 and 2017 consisted of the following:
(i) The Cool Pool - On July 8, 2019 GasLog's vessel charter contracts had concluded and withdrew their participation from the Cool Pool. Following Gaslog's departure, we assumed sole responsibility for the management of the Cool Pool and consolidate the Cool Pool. From point of consolidation, the Cool Pool ceased to be a related party.
(ii) Magni Partners - Tor Olav Trøim is the founder of, and partner in, Magni Partners (Bermuda) Limited, a privately held Bermuda company, and is the ultimate beneficial owner of the company. Receivables and payables from Magni Partners comprise primarily of the cost (without mark-up) or part cost of personnel employed by Magni Partners who have providedadvisory and management services to Golar. These costs do not include any payment for any services provided by Tor Olav Trøim himself.
iii) Borr Drilling - Tor Olav Trøim is the founder, and director of Borr Drilling, a Bermuda company listed on the Oslo and NASDAQ stock exchanges. Receivables comprise primarily of management and administrative services provided by our Bermuda corporate office.
iv) 2020 Bulkers - 2020 Bulkers is a related party by virtue of common directorships. Receivables comprise primarily of management and administrative services provided by our Bermuda corporate office.
Table:
(in thousands of $) | 2019 | 2018 | 2017
The Cool Pool (i) | 39,666 | 151,152 | 59,838
Magni Partners (ii) | (858) | (375) | (260)
Borr Drilling (iii) | 542 | — | —
2020 Bulkers (iv) | 265 | — | —
Total | 39,615 | 150,777 | 59,578


Question: What was the percentage change in total transaction with other related parties from 2017 to 2018?
Answer: 153.07
Calculation: (150,777 - 59,578)/59,578
RESEARCH AND DEVELOPMENT EXPENSES
Total research and development (R&D) expenses, excluding impairment charges, increased by 22% in 2019 compared to the previous year, mainly as a result of higher development activities. As a percentage of sales (excluding the patent litigation & arbitration settlement), R&D expenses decreased to 10% compared to 11% in 2018. Currency changes resulted in a 4% increase in R&D expenses year-over-year.
Total research and development expenses developed as follows:
Impairment of capitalized development expenses related primarily to the development of new technology that is now no longer in-demand from customers.
We continue to invest strongly in R&D. As part of our R&D activities, we are engaged in various development programs with customers and research institutes. These allow us to develop products that meet customer requirements and obtain access to new technology and expertise. The costs relating to prototypes and experimental models, which we may subsequently sell to customers, are charged to the cost of sales.
Our R&D operations in the Netherlands, Belgium, and the United States receive research and development grants and credits from various sources.
Table:
Year ended December 31, |  |  | 
(EUR million) | 2018 | 2019 | % Change
Front-end: |  |  | 
Research and development expenses | 125.3 | 150.7 | 20%
Capitalization of development expenses | (49.7) | (60.2) | 21%
Research and development grants and credits | (0.3) | – | –
Amortization of capitalized development  expenses | 12.0 | 15.6 | 30%
 | 87.3 | 106.1 | 22%
Impairment capitalized development expenses | 1.3 | 4.8 | –
Total | 88.6 | 110.8 | 25%


Question: Where are the R&D operations located for the company?
Answer: Netherlands, Belgium, the United States
3. REVENUE FROM CONTRACTS WITH CUSTOMERS
Revenues and related costs on construction contracts are recognized as the performance obligations are satisfied over time in accordance with ASC 606, Revenue from Contracts with Customers. Under ASC 606, revenue and associated profit, will be recognized as the customer obtains control of the goods and services promised in the contract (i.e., performance obligations). The cost of uninstalled materials or equipment will generally be excluded from the Company’s recognition of profit, unless specifically produced or manufactured for a project, because such costs are not considered to be a measure of progress.
The following tables summarize the impact of the adoption of ASC 606 on the Company’s condensed consolidated statement of operations for the year ended December 31, 2018 and the consolidated balance sheet as of December 31, 2018:
Table:
 |  | For the Year Ended December 31, 2018 | 
 | As Reported | Without Adoption of ASC 606 | Impact of Adoption of ASC 606
Revenue | $70,965 | $68,845 | $(2,120)
Cost of goods sold | 58,701 | 57,471 | (1,230)
Gross profit | 12,264 | 11,374 | (890)


Question: When will cost of uninstalled materials or equipment be included in the recognition of profit?
Answer: specifically produced or manufactured for a project, because such costs are not considered to be a measure of progress
Accumulated Other Comprehensive Loss-Recognition and Deferrals
The following table presents cumulative items not recognized as a component of net periodic benefits expense as of December 31, 2018, items recognized as a component of net periodic benefits expense in 2019, additional items deferred during 2019 and cumulative items not recognized as a component of net periodic benefits expense as of December 31, 2019. The items not recognized as a component of net periodic benefits expense have been recorded on our consolidated balance sheets in accumulated other comprehensive loss:
Table:
 |  |  | As of and for the Years Ended December 31, |  | 
 | 2018 | Recognition of Net Periodic Benefits Expense | Deferrals | Net Change in AOCL | 2019
 |  |  | (Dollars in millions) |  | 
Accumulated other comprehensive loss: |  |  |  |  | 
Pension plans: |  |  |  |  | 
Net actuarial (loss) gain | $(2,973) | 224 | (297) | (73) | (3,046)
Prior service benefit (cost) | 46 | (8) | 9 | 1 | 47
Deferred income tax benefit (expense) | 754 | (53) | 69 | 16 | 770
Total pension plans | (2,173) | 163 | (219) | (56) | (2,229)
Post-retirement benefit plans: |  |  |  |  | 
Net actuarial (loss) gain | 7 | — | (182) | (182) | (175)
Prior service (cost) benefit | (87) | 16 | — | 16 | (71)
Deferred income tax benefit (expense) | 22 | (4) | 44 | 40 | 62
Total post-retirement benefit plans | (58) | 12 | (138) | (126) | (184)
Total accumulated other comprehensive loss | $(2,231) | 175 | (357) | (182) | (2,413)


Question: Where are the items not recognized as a component of net periodic benefits expense recorded?
Answer: on our consolidated balance sheets in accumulated other comprehensive loss
(23) Dividends
Our Board of Directors declared the following dividends payable in 2019 and 2018:
The declaration of dividends is solely at the discretion of our Board of Directors, which may change or terminate our dividend practice at any time for any reason without prior notice. On February 27, 2020, our Board of Directors declared a quarterly cash dividend of $0.25 per share.
Table:
Date Declared | Record Date | Dividend per Share | Total Amount | Payment Date
 |  |  | (in millions) | 
November 21, 2019 | 12/2/2019 | $0.250 | $273 | 12/13/2019
August 22, 2019 | 9/2/2019 | 0.250 | 273 | 9/13/2019
May 23, 2019 | 6/3/2019 | 0.250 | 274 | 6/14/2019
March 1, 2019 | 3/12/2019 | 0.250 | 273 | 3/22/2019
November 14, 2018 | 11/26/2018 | 0.540 | 586 | 12/7/2018
August 21, 2018 | 8/31/2018 | 0.540 | 584 | 9/14/2018
May 23, 2018 | 6/4/2018 | 0.540 | 588 | 6/15/2018
February 21, 2018 | 3/5/2018 | 0.540 | 586 | 3/16/2018


Question: What can the Board of Directors do regarding the declaration of dividends?
Answer: may change or terminate our dividend practice at any time for any reason without prior notice
General and Administrative Expense
General and administrative expense increased by $15.4 million in 2019 compared to 2018. The increase was primarily due to a $9.8 million increase in employee-related costs, which includes stock-based compensation, associated with our increased headcount from 89 employees as of December 31, 2018 to 113 employees as of December 31, 2019. There was an additional increase of $3.7 million in depreciation and amortization, $0.8 million to support compliance as a public company, a $0.6 million increase in office related expenses to support the administrative team, and an increase of $0.2 million in software subscription costs.
Table:
 | Year Ended December 31, |  | Change | 
 | 2019 | 2018 | $ | %
 |  | (dollars in thousands) |  | 
General and administrative | $ 46,820 | $ 31,462 | $ 15,358 | 48.8%
% of revenue | 23% | 21% |  | 


Question: What is the change in the % of revenue from 2018 to 2019?
Answer: 2
Calculation: 23 - 21
Our net sales to significant customers as a percentage of total net sales were as follows:
We sell parts to these three transportation customers for certain vehicle platforms under purchase agreements that have no volume commitments and are subject to purchase orders issued from time to time.
No other customer accounted for 10% or more of total net sales during these periods. We continue to focus on broadening our customer base to diversify our end market exposure.
Changes in the level of our customers' orders have, in the past, had a significant impact on our operating results. If a major customer reduces the amount of business it does with us, or substantially changes the terms of that business, there could be an adverse impact on our operating results
Table:
 |  | Years Ended December 31, | 
 | 2019 | 2018 | 2017
Cummins Inc. | 16.1% | 15.2% | 13.4%
Honda Motor Co. | 11.6% | 10.5% | 11.2%
Toyota Motor Corporation | 9.6% | 10.5% | 10.2%


Question: How many years did Cummins Inc. occupy more than 15% of the company's total net sales?
Answer: 2
Calculation: 2019##2018
Unaudited Pro Forma Financial Information
The pro forma financial information in the table below presents the combined results of operations for ACI and Speedpay as if the acquisition had occurred January 1, 2018. The pro forma information is shown for illustrative purposes only and is not necessarily indicative of future results of operations of the Company or results of operations of the Company that would have actually occurred had the transaction been in effect for the periods presented. This pro forma information is not intended to represent or be indicative of actual results had the acquisition occurred as of the beginning of each period, and does not reflect potential synergies, integration costs, or other such costs or savings.
Certain pro forma adjustments have been made to net income (loss) for the year ended December 31, 2019 and 2018, to give effect to estimated adjustments that remove the amortization expense on eliminated Speedpay historical identifiable intangible assets, add amortization expense for the value of acquired identified intangible assets (primarily acquired software, customer relationships, and trademarks), and add estimated interest expense on the Company’s additional Delayed Draw Term Loan and Revolving Credit Facility borrowings. Additionally, certain transaction expenses that are a direct result of the acquisition have been excluded from the year ended December 31, 2019.
The following is the unaudited summarized pro forma financial information for the periods presented (in thousands, except per share data):
Walletron
On May 9, 2019, the Company also completed the acquisition of Walletron, which delivers patented mobile wallet technology. The Company has included the financial results of Walletron in the consolidated financial statements from the date of acquisition, which were not material.
RevChip and TranSend
On October 1, 2019, the Company acquired certain technology assets of RevChip, LLC ("RevChip") and TranSend Integrated Technologies Inc. ("TranSend") for a combined $7.0 million. As substantially all of the value was in the developed technology, the purchase was recognized as an asset acquisition. The Company has included the financial results of RevChip and TranSend in the consolidated financial statements from the date of acquisition, which were not material.
Table:
 | Years Ended December 31, | 
 | 2019 | 2018
Pro forma revenue | $1,382,957 | $1,361,729
Pro forma net income | $82,003 | $88,428
Pro forma income per share: |  | 
Basic | $ 0.71 | $ 0.76
Diluted | $ 0.69 | $ 0.75


Question: What was the pro forma revenue in 2019?
Answer: $1,382,957
Derivative Instruments
Derivative Instruments with Hedge Accounting Designation
We utilize currency forward contracts that generally mature within 12 months to hedge our exposure to changes in currency exchange rates. Currency forward contracts are measured at fair value based on market-based observable inputs including currency exchange spot and forward rates, interest rates, and credit-risk spreads (Level 2). We do not use derivative instruments for speculative purposes.
Cash Flow Hedges: We utilize cash flow hedges for our exposure from changes in currency exchange rates for certain capital expenditures. We recognized losses of $3 million and $17 million and gains of $15 million for 2019, 2018, and 2017, respectively, in accumulated other comprehensive income from the effective portion of cash flow hedges. Neither the amount excluded from hedge effectiveness nor the reclassifications from accumulated other comprehensive income to earnings were material in 2019, 2018, or 2017. The amounts from cash flow hedges included in accumulated other comprehensive income that are expected to be reclassified into earnings in the next 12 months were also not material.
(1) Included in receivables – other.
(2) Included in accounts payable and accrued expenses – other for forward contracts and in current debt for convertible notes settlement obligations.
(3) Notional amounts of convertible notes settlement obligations as of August 29, 2019 and August 30, 2018 were 4 million and 3 million shares of our common stock, respectively.
Table:
 |  | Fair Value of | 
 | Gross National Amount | Current Assets(1) | Current Liabilities(2)
As of August 29, 2019 |  |  | 
Derivative instruments with hedge accounting designation |  |  | 
Cash flow currency hedges | $146 | $1 | $—
Derivative instruments without hedge accounting designation |  |  | 
Non-designated currency hedges | 1,871 | 1 | (9)
Convertible notes settlement obligation(3) |  | — | (179)
 |  | 1 | (188)
 |  | $2 | $(188)
As of August 30, 2018 |  |  | 
Derivative instruments with hedge accounting designation |  |  | 
Cash flow currency hedges | $538 | $— | $(13)
Derivative instruments without hedge accounting designation |  |  | 
Non-designated currency hedges | 1,919 | 14 | (10)
Convertible notes settlement obligation(3) |  | — | (167)
 |  | 14 | (177)
 |  | $14 | $(190)


Question: What is the ratio of the fair value of the total current assets in 2019 to that of 2018?
Answer: 0.14
Calculation: 2/14
6. Property, Plant and Equipment
Property, plant and equipment consisted of the following (in thousands):
Depreciation expense was $51.7 million, $51.1 million and $48.8 million in fiscal years 2019, 2018 and 2017, respectively.
The Company maintains insurance for both property damage and business interruption relating to catastrophic events, such as fires. Insurance recoveries received for property damage and business interruption in excess of the net book value of damaged assets, clean-up and demolition costs, and post-event costs are recognized as income in the period received or committed when all contingencies associated with the recoveries are resolved. Gains on insurance recoveries related to business interruption are recorded within “Cost of sales” and any gains or losses related to property damage are recorded within “Other income (expense).” Insurance recoveries related to business interruption are classified as operating cash flows and recoveries related to property damage are classified as investing cash flows in the statement of cash flows. Insurance claims incurred or finalized during the fiscal years ended 2019, 2018, and 2017 did not have a material affect on the Company's consolidated financial statements.
Table:
 | June 1, 2019 | June 2, 2018
Land and improvements | $93,046 | $90,757
Buildings and improvements | 370,451 | 360,030
Machinery and equipment | 496,166 | 478,997
Construction-in-progress | 52,551 | 9,307
 | 1,012,214 | 939,091
Less: accumulated depreciation | 555,920 | 513,707
 | $456,294 | $425,384


Question: What are insurance recoveries related to business interruption classified as?
Answer: operating cash flows
Reporting Channels and Whistleblower Protection
To ensure that our conduct meets relevant legal requirements and the highest ethical standards under the Ethics Code, TSMC provides multiple channels for reporting business conduct concerns.
First of all, our Audit Committee approved and we have implemented the “Complaint Policy and Procedures for Certain Accounting and Legal Matters” and “Procedures for Ombudsman System” that allow employees or any whistleblowers with relevant evidence to report any financial, legal, or ethical irregularities anonymously through either the Ombudsman or directly to the Audit Committee.
TSMC maintains additional internal reporting channels for our employees. To foster an open culture of ethics compliance, we encourage our employees and the third parties we do business with to report any suspected noncompliance with law or relevant TSMC policy.
TSMC treats any complaint and the investigation thereof in a confidential and sensitive manner, and strictly prohibits any form of retaliation against any individual who in good faith reports or helps with the investigation of any complaint. Due to the open reporting channels, TSMC receives reports on various issues from employees and external parties such as our customers and suppliers from time to time. Below is a summary of the Number of Reported Incidents.
Note 1: Among the 205 cases, 132 were related to employee relationship, 47 cases related to other matters (e.g. employee’s individual interest or private matters), and 26 cases related to ethical matters.
Note 2: One case involved an employee who requested a supplier to reserve a hotel and pay advance accommodation fees during his business trip, actions which violate TSMC policy, and the employee was disciplined. Another case involved an employee who abused his work relationship by requesting a supplier to make a personal loan to the employee, a severe violation of our Ethics Code, and the employee was terminated.
Note 3: After the investigation by TSMC’s Sexual Harassment Investigation Committee, four employees involved in confirmed cases of sexual harassment received severe discipline from the Company.
Table:
Year | FY 2016 | FY 2017 | FY 2018 | FY 2019
Total reported cases | 116 | 113 | 150 | 205 (Note 1)
Ethics-related cases | 16 | 20 | 14 | 26
Cases investigated and verified as ethics violations | 2 | 4 | 1 | 2 (Note 2)
Sexual Harassment Investigation Committees Formed | 5 | 7 | 3 | 4
Cases investigated and verified as violations | 5 | 3 | 3 | 4 (Note 3)


Question: What is the change in Total reported cases from FY 2016 to FY 2017?
Answer: -3
Calculation: 113-116
Network advertising revenue is generated primarily from the sale of television airtime for programs or advertisements. Network advertising revenue is recognized when the program or advertisement is broadcast. Revenues are reported net of agency commissions, which are calculated as a stated percentage applied to gross billings. The Network advertising contracts are generally short-term in nature.
Network distribution revenue consists of payments received from cable, satellite and other multiple video program distribution systems for their retransmission of our network content. Network distribution revenue is recognized as earned over the life of the retransmission consent contract and varies from month to month.
Variable fees are usage/sales based, calculated on the average number of subscribers, and recognized as revenue when the usage occurs. Transaction prices are based on the contract terms, with no material judgments or estimates.
Broadcast station revenue is generated primarily from the sale of television airtime in return for a fixed fee or a portion of the related ad sales recognized by the third party. In a typical broadcast station revenue agreement, the licensee of a station makes available, for a fee, airtime on its station to a party which supplies content to be broadcast during that airtime and collects revenue from advertising aired during such content.
Broadcast station revenue is recognized over the life of the contract, when the program is broadcast. The fees that we charge can be fixed or variable and the contracts that the Company enters into are generally short-term in nature. Variable fees are usage/salesbased and recognized as revenue when the subsequent usage occurs. Transaction prices are based on the contract terms, with no material judgments or estimates.
Disaggregation of Revenues The following table disaggregates the Broadcasting segment's revenue by type (in millions):
Table:
 | Years Ended December 31, | 
 | 2019 | 2018
Network advertising | $22.7 | $28.2
Broadcast station | 11.9 | 10.8
Network distribution | 4.9 | 4.8
Other | 2.3 | 1.6
Total revenue from contracts with customers | 41.8 | 45.4
Other revenue | - | -
Total Broadcasting segment revenue | $ 41.8 | $ 45.4


Question: What is the percentage increase / (decrease) in the network distribution from 2018 to 2019?
Answer: 2.08
Calculation: 4.9 / 4.8 - 1