hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
Underlying effective tax rate
The underlying effective tax rate is calculated by dividing taxation excluding the tax impact of non-underlying items by profit before tax excluding the impact of non-underlying items and share of net profit/(loss) of joint ventures and associates. This measure reflects the underlying tax rate in relation to profit before tax excluding non-underlying items before tax and share of net profit/(loss) of joint ventures and associates.
Tax impact on non-underlying items within operating profit is the sum of the tax on each non-underlying item, based on the applicable country tax rates and tax treatment. This is shown in the table:
(a) Restated following adoption of IFRS 16. See note 1 and note 24 for further details.
(b) Refer to note 3 for further details on these items.
(c) Excludes €3 million (2018: €32 million) gain on disposal of spreads business by the joint venture in Portugal which is included in the share of net profit/(loss) of joint ventures and associates line. Including the gain, total non-underlying items not in operating profit but within net profit before tax is €35 million (2018: €154 million). See note 3.
Table:
 | € million | € million
 | 2019 | 2018
 |  | (Restated)(a)
Taxation | 2,263 | 2,572
Tax impact of: |  | 
Non-underlying items within operating profit(b) | 309 | (259)
Non-underlying items not in operating profit  Taxation before tax impact of non-underlying | (196) | (29)
Taxation before tax impact of non-underlying | 2,376 | 2,284
Profit before taxation | 8,289 | 12,360
Non-underlying items within operating profit before tax(b) | 1,239 | (3,176)
Non-underlying items not in operating profit but within net profit before tax(c) | (32) | (122)
Share of net (profit)/loss of joint ventures and associates | (176) | (185)
Profit before tax excluding non-underlying items before tax and share of net profit/ (loss) of joint ventures and associates | 9,320 | 8,877
Underlying effective tax rate | 25.5% | 25.7%


Question: How is the underlying effective tax rate calculated?
Answer: dividing taxation excluding the tax impact of non-underlying items by profit before tax excluding the impact of non-underlying items and share of net profit/(loss) of joint ventures and associates
Income Tax Expense (Benefit)
Significant components of the income tax expense (benefit) were as follows:
Table:
 |  | Fiscal | 
 | 2019 | 2018 | 2017
 |  | (in millions) | 
Current income tax expense (benefit): |  |  | 
U.S.: |  |  | 
Federal | $ (28) | $ 20 | $ (9)
State | 2 | 21 | 9
Non-U.S. | 229 | 406 | 322
 | 203 | 447 | 322
Deferred income tax expense (benefit): |  |  | 
U.S.: |  |  | 
Federal | (25) | 499 | (119)
State | (8) | (30) | (15)
Non-U.S. | (185) | (1,260) | (8)
 | (218) | (791) | (142)
Income tax expense (benefit) | $ (15) | $ (344) | $ 180


Question: What are the components under U.S. in the table?
Answer: Federal, State
j.p . morgan chase & co . / 2003 annual report 33 corporate credit allocation in 2003 , tss was assigned a corporate credit allocation of pre- tax earnings and the associated capital related to certain credit exposures managed within ib 2019s credit portfolio on behalf of clients shared with tss . prior periods have been revised to reflect this allocation . for 2003 , the impact to tss of this change increased pre-tax operating results by $ 36 million and average allocated capital by $ 712 million , and it decreased sva by $ 65 million . pre-tax operating results were $ 46 million lower than in 2002 , reflecting lower loan volumes and higher related expenses , slightly offset by a decrease in credit costs . business outlook tss revenue in 2004 is expected to benefit from improved global equity markets and from two recent acquisitions : the november 2003 acquisition of the bank one corporate trust portfolio , and the january 2004 acquisition of citigroup 2019s electronic funds services business . tss also expects higher costs as it integrates these acquisitions and continues strategic investments to sup- port business expansion . by client segment tss dimensions of 2003 revenue diversification by business revenue by geographic region investor services 36% ( 36 % ) other 1% ( 1 % ) institutional trust services 23% ( 23 % ) treasury services 40% ( 40 % ) large corporations 21% ( 21 % ) middle market 18% ( 18 % ) banks 11% ( 11 % ) nonbank financial institutions 44% ( 44 % ) public sector/governments 6% ( 6 % ) europe , middle east & africa 27% ( 27 % ) asia/pacific 9% ( 9 % ) the americas 64% ( 64 % ) ( a ) includes the elimination of revenue related to shared activities with chase middle market in the amount of $ 347 million . year ended december 31 , operating revenue .

Table:
year ended december 31 , ( in millions ) | year ended december 31 , 2003 | year ended december 31 , 2002 | change
treasury services | $ 1927 | $ 1818 | 6% ( 6 % )
investor services | 1449 | 1513 | -4 ( 4 )
institutional trust services ( a ) | 928 | 864 | 7
other ( a ) ( b ) | -312 ( 312 ) | -303 ( 303 ) | -3 ( 3 )
total treasury & securities services | $ 3992 | $ 3892 | 3% ( 3 % )
( a ) includes a portion of the $ 41 million gain on sale of a nonstrategic business in 2003 : $ 1 million in institutional trust services and $ 40 million in other .
( b ) includes the elimination of revenues related to shared activities with chase middle market , and a $ 50 million gain on sale of a non-u.s .
securities clearing firm in 2002. .

Question: in 2003 what was the ratio of the investor services to treasury services revenues
Answer: 0.75
Calculation: divide(1449, 1927)
28 SHARE BASED COMPENSATION PLANS
The compensation cost recognised with respect to all outstanding plans and by grant of shares, which are all equity settled instruments, is as follows:
(*) includes of 1,305,399 options granted towards Share Plan 2015 during twelve months ended March 31, 2019 at an average exercise price of $14.86 per share and average grant date fair value $2.6 per share.
(**) includes Restricted Share Unit (RSU) and Other share option plans. In respect of 211,567 units/options granted towards RSU during twelve months ended March 31, 2019, grant date fair value approximates intrinsic value $10.48 per share. (**) includes Restricted Share Unit (RSU) and Other share option plans. In respect of 211,567 units/options granted towards RSU during twelve months ended March 31, 2019, grant date fair value approximates intrinsic value $10.48 per share.
(***) includes 1,400,000 shares granted twelve months ended March 31, 2019 to management personnel at grant date fair value $10.08 per share.
Joint Stock Ownership Plan (JSOP)
In April 2012, the Company established a controlled trust called the Eros International Plc Employee Benefit Trust (“JSOP Trust”). The JSOP Trust purchased 2,000,164 shares of the Company out of funds borrowed from the Company and repayable on demand. The Company’s Board, Nomination and Remuneration Committee recommends to the JSOP Trust certain employees, officers and key management personnel, to whom the JSOP Trust will be required to grant shares from its holdings at nominal price. Such shares are then held by the JSOP Trust and the scheme is referred to as the “JSOP Plan.” The shares held by the JSOP Trust are reported as a reduction in stockholders’ equity and termed as ‘JSOP reserves’.
Table:
 |  | Year ended March 31 | 
 | 2019 | 2018 | 2017
 |  | (in thousands) | 
IPO India Plan | $1,198 | $1,572 | $2,140
JSOP Plan | — | 615 | 3,622
Option award scheme 2012 | — | 197 | 699
2014 Share Plan | 47 | (22) | 1,427
2015 Share Plan(*) | 3,059 | 100 | 328
Other share option awards(**) | 5,346 | 7,283 | 4,405
Management scheme (staff share grant) (***) | 11,911 | 8,173 | 10,850
 | $21,561 | $17,918 | $23,471


Question: Which fiscal year had the greatest total compensation cost?
Answer: 2017
Calculation: 23,471>21,561>17,918
Interest and Other
Interest income decreased by $1.9 million from 2018 to 2019 due primarily to lower cash and marketable securities balances in 2019. Interest expense decreased by $8.2 million from 2018 to 2019 due primarily to unrealized losses on equity marketable securities recognized in 2018. Other (income) expense, net increased by $28.1 million from 2018 to 2019 due primarily to a $15.0 million charge for the impairment of the investment in RealWear and an $11.5 million change in pension actuarial (gains) losses from a $3.3 million gain in 2018 to an $8.2 million loss in 2019.
Table:
 | 2019 | 2018 | 2018-2019 Change
 |  | (in millions) | 
Interest income | $(24.8) | $(26.7) | $1.9
Interest expense | 23.1 | 31.3 | (8.2)
Other (income) expense, net | 29.5 | 1.4 | 28.1


Question: What was the change in interest income in 2019?
Answer: decreased by $1.9 million
Option Exercises and Stock Vested in 2018
The following table sets forth the number of shares of common stock acquired during 2018 by our named executive officers upon the exercise of stock options or upon the vesting of RSUs or RSAs, as well as the value realized upon such equity award transactions.
(1) Calculated by multiplying (i) the fair market value of Class A common stock on the vesting date, which was determined using the closing price on the New York Stock Exchange of a share of Class A common stock on the date of vest, or if such day is a holiday, on the immediately preceding trading day less the option exercise price paid for such shares of common stock, by (ii) the number of shares of common stock acquired upon exercise.
(2) Reflects the aggregate number of shares of Class A common stock underlying RSUs and RSAs that vested in 2018. Of the amount shown for Messrs. Daswani and Murphy and Mses. Friar, Henry, Reses and Whiteley, 20,132, 6,741, 44,857, 59,014, 91,306 and 17,217 shares, respectively, of Class A common stock were withheld to cover tax withholding obligations upon vesting.
(3) Calculated by multiplying (i) the fair market value of Class A common stock on the vesting date, which was determined using the closing price on the New York Stock Exchange of a share of common stock on the date of vest, or if such day is a holiday, on the immediately preceding trading day, by (ii) the number of shares of common stock acquired upon vesting. Of the amount shown for Messrs. Daswani and Murphy and Mses. Friar, Henry, Reses and Whiteley, $1,389,704, $414,596, $2,782,628, $3,619,149, $5,502,076 and $1,114,287, respectively, represents the value of shares withheld to cover tax withholding obligations upon vesting.
Table:
 | Option Awards |  | Stock Awards | 
Name | Number of Shares Acquired on Exercise (#) | Number of Value Realized on Exercise ($)(1) | Shares Acquired on Vesting of RSUs and RSAs (#) (2) | Value Realized on Vesting of RSUs and RSAs ($) (3)
Mr. Dorsey | — | — | — | —
Ms. Friar | 1,082,343 | 54,631,297 | 95,889 | 5,788,657
Ms. Henry | 200,000 | 13,187,645 | 124,498 | 7,475,787
Ms. Reses | — | — | 189,577 | 11,284,454
Ms. Whiteley | 20,625 | 989,821 | 38,156 | 2,375,984
Mr. Daswani | — | — | 45,310 | 3,106,268
Mr. Murphy | — | — | 18,024 | 1,120,072


Question: What is the average Number of Shares Acquired on Exercise for the 3 officers who received it?
Answer: 434322.67
Calculation: (1,082,343 + 200,000 + 20,625) / 3
Foreign currency translation risk
Our reporting currency is the U.S. dollar. Fluctuations in foreign currencies impact the amount of total assets and liabilities that we report for our foreign subsidiaries upon the translation of these amounts into U.S. dollars. In particular, the amount of cash and cash equivalents that we report in U.S. dollars for a significant portion of the cash held by these subsidiaries is subject to translation variance caused by changes in foreign currency exchange rates as of the end of each respective reporting period (the offset to which is recorded to accumulated other comprehensive income on our Consolidated Balance Sheets).
The following table shows our cash and cash equivalents denominated in certain major foreign currencies as of June 30, 2019 (equivalent in U.S. dollar):
If overall foreign currency exchange rates in comparison to the U.S. dollar uniformly weakened by 10%, the amount of cash and cash equivalents we would report in equivalent U.S. dollars would decrease by approximately $32.9 million (June 30, 2018—$34.6 million), assuming we have not entered into any derivatives discussed above under "Foreign Currency Transaction Risk".
Table:
(In thousands) | U.S. Dollar Equivalent at June 30, 2019 | U.S. Dollar Equivalent at June 30, 2018
Euro | $120,417 | $120,346
British Pound | 33,703 | 31,211
Canadian Dollar | 12,635 | 24,590
Swiss Franc | 56,776 | 52,652
Other foreign currencies | 105,273 | 117,459
Total cash and cash equivalents denominated in foreign currencies | 328,804 | 346,258
U.S. dollar | 612,205 | 336,684
Total cash and cash equivalents | $941,009 | $682,942


Question: If overall foreign currency exchange rates in comparison to the U.S. dollar uniformly weakened by 10%, how much would the amount of cash and cash equivalents reported in equivalent U.S. dollars decrease by?
Answer: approximately $32.9 million (June 30, 2018—$34.6 million), assuming we have not entered into any derivatives discussed above under "Foreign Currency Transaction Risk"
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 was the cash flow currency hedges as of August 29, 2019?
Answer: $146
Fair Value of Convertible Notes held at amortized cost
As of December 31, 2019 and 2018, the fair value and carrying value of the Company's Convertible Notes were:
The fair value shown above represents the fair value of the debt instrument, inclusive of both the debt and equity components, but excluding the derivative liability. The carrying value represents only the carrying value of the debt component.
The fair value of the Convertible Notes was determined by using unobservable inputs that are supported by minimal non-active market activity and that are significant to determining the fair value of the debt instrument. The fair value is level 3 in the fair value hierarchy.
(Dollars in thousands, except per share amounts)
Table:
 | Fair value | Carrying value | Face value
5.5% convertible senior notes due December 15, 2021: |  |  | 
Balance as of December 31, 2019 |  |  | 
Related party | $6,727 | $8,864 | $10,000
Others | 65,257 | 84,648 | 97,000
 | $71,984 | $93,512 | $107,000
Balance as of December 31, 2018 |  |  | 
Related party | $5,879 | $8,378 | $10,000
Others | 57,031 | 79,433 | 97,000
 | $62,910 | $87,811 | $107,000


Question: What is the carrying value of related party 5.5% convertible senior notes due December 15, 2021 as of December 31, 2019?
Answer: $8,864
Performance-Based Restricted Stock Units
PRSU activity is summarized as follows (shares in thousands):
1 Assumes maximum achievement of the specified financial targets.
The weighted-average grant date fair value of PRSUs granted during the years ended December 31, 2019, 2018, and 2017 was $56.74, $40.53, and $41.73, respectively.
Unrecognized compensation expense related to unvested PRSUs was $16.9 million at December 31, 2019, which is expected to be recognized over a weighted-average period of 1.7 years.
Table:
 | Number of Shares | Weighted- Average Grant Date Fair Value
Unvested shares at December 31, 2018 | 1,924 | $40.81
Granted | 390 | 56.74
Forfeited | (562) | 41.29
Vested | — | —
Unvested shares at December 31, 2019 1 | 1,752 | $44.21


Question: What is the sum of number of unvested shares in 2018 and number of granted shares?
Answer: 2314
Calculation: (1,924+390)
20. Trade and other payables
Following the application of IFRS 16, trade and other payables for the year ended 31 March 2018 have been restated (note 2).
Trade payables are unsecured and are usually paid within 30 days of recognition. The carrying amounts of trade and other payables are considered to be the same as their fair values, due to their short-term nature.
Table:
 | 2019 | (Restated) 2018
 | £m | £m
Trade payables | 4.3 | 3.7
Accruals | 10.5 | 9.8
Other taxes and social security | 13.0 | 11.8
Deferred income | 13.2 | 1.8
Other payables | 0.3 | 0.9
Accrued interest payable | 0.5 | 0.5
Total | 41.8 | 28.5


Question: When are trade payables paid?
Answer: within 30 days of recognition
Results of Operations: Year Ended December 31, 2019, versus Year Ended December 31, 2018 (Amounts in thousands, except percentages and per share amounts):
Other income and expense items are summarized in the following table:
Interest expense increased mainly as a result of an increase in debt related to the QTI acquisition. Other expense in 2019 was principally driven by foreign currency translation losses, mainly due to the appreciation of the U.S. Dollar compared to the Chinese Renminbi and Euro, as well as an increase in pension expense.
Table:
 | Years Ended December 31, | 
 | 2019 | 2018
Interest expense | $(2,648) | $(2,085)
Interest income | 1,737 | 1,826
Other (expense) income | (2,638) | (2,676)
Total other (expense) income, net | $(3,549) | $(2,935)


Question: What was Other expense in 2019 principally driven by?
Answer: foreign currency translation losses, mainly due to the appreciation of the U.S. Dollar compared to the Chinese Renminbi and Euro, as well as an increase in pension expense.
Invested capital:
TORM defines invested capital as the sum of intangible assets, tangible fixed assets, investments in joint ventures, bunkers, accounts receivables, assets held-for-sale (when applicable), deferred tax liability, trade payables, current tax liabilities and deferred income. Invested capital measures the net investment used to achieve the Company’s operating profit. The Company believes that invested capital is a relevant measure that Management uses to measure the overall development of the assets and liabilities generating the net profit. Such measure may not be comparable to similarly titled measures of other companies. Invested capital is calculated as follows:
¹⁾ Accounts receivables includes Freight receivables, Other receivables and Prepayments.
²⁾ Trade payables includes Trade payables and Other liabilities.
Table:
USDm | 2019 | 2018 | 2017
Tangible and intangible fixed assets | 1,782.2 | 1,445.0 | 1,384.8
Investments in joint ventures | 1.2 | 0.1 | 0.3
Bunkers | 34.8 | 39.4 | 33.2
Accounts receivables ¹⁾ | 99.5 | 96.3 | 87.5
Assets held-for-sale | 9.1 | 6.2 | 6.6
Deferred tax liability | -44.9 | -44.9 | -44.9
Trade payables ²⁾ | -94.4 | -71.6 | -60.0
Current tax liabilities | -1.5 | -1.0 | -1.4
Deferred income | - | -0.1 | -0.1
Invested capital | 1,786.0 | 1,469.4 | 1,406.0


Question: For which years was Invested capital calculated in?
Answer: 2019, 2018, 2017
During the year, we passed an additional 12,400 addresses in the Greater Cincinnati area with Fioptics, which included a focus on Fiber to the Premise ("FTTP") addresses as FTTP has become a more relevant solution for our customers. As of December 31, 2019, the Fioptics products are now available to approximately 623,400 customer locations or 75% of the Greater Cincinnati operating territory. During 2019, we passed an additional 5,900 addresses in Hawaii.  The Consumer/SMB Fiber products are now available to approximately 246,400 addresses, or 50% of the operating territory in Hawaii, including Oahu and the neighbor islands
In 2019, the Company also invested $24.0 million in Enterprise Fiber products, which includes fiber and IP-ased core network technology.  These investments position the Company to meet increased business and carrier demand within Greater Cincinnati and in contiguous markets in the Midwest region.  In Hawaii, expenditures are for high-bandwidth data transport products, such as metro-ethernet, including the Southeast Asia to United States ("SEA-US") cable.  We continue to evolve and optimize network assets to support the migration of legacy products to new technology, and as of December 31, 2019, the Company has:
increased the total number of commercial addresses with fiber-based services (referred to as a lit address) to 28,800 in Greater Cincinnati and 20,300 in Hawaii by connecting approximately 2,200 additional lit addresses in Greater Cincinnati and 1,200 additional lit addresses in Hawaii during the twelve months ended December 31, 2019;
expanded the fiber network to span more than 12,500 route miles in Greater Cincinnati and 4,700 route miles in Hawaii; and
provided cell site back-haul services to approximately 90% of the 1,000 cell sites in the Greater Cincinnati market, of which approximately 97% of these sites are lit with fiber, and 80% of the 1,100 cell sites in Hawaii, all of which are lit with fiber.
As a result of our investments, we have generated year-over-year Entertainment and Communications revenue growth each year since 2013.  The Company's expanding fiber assets allow us to support the ever-increasing demand for data, video and internet devices with speed, agility and security.  We believe our fiber investments are a long-term solution for our customers' bandwidth needs
Table:
Hawaii Operating Territory | 2018 | 2019
Consumer / SMB Fiber Revenue (in millions): | $87.2 | $42.3
Subscribers (in thousands): |  | 
High-speed internet | 68.2 | 65.9
Video | 42.7 | 48.8
Voice | 30.0 | 30.3


Question: What proportion of the amount invested in Enterprise Fiber products is the 2019 revenue?
Answer: 363.33
Calculation: 87.2/24