hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
Effect of ASC 606 as of December 31, 2018 and for the Year Ended December 31, 2018
The following table summarizes the effect of adopting ASC 606 on our Consolidated Balance Sheet (in millions):
Table:
 | As reported December 31, 2018 | Effect of ASC 606 adoption | Amounts without adoption of ASC 606 December 31, 2018
Trade receivables, net | $172.3 | $6.9 | $179.2
Prepaid expenses and other current assets | 67.3 | (14.4) | 52.9
Receivables from related parties | 6.2 | 4.8 | 11.0
Computer software, net | 405.6 | (3.7) | 401.9
Deferred contract costs, net | 161.3 | (17.2) | 144.1
Other non-current assets | 125.6 | (7.0) | 118.6
Total assets | 3,653.4 | (30.6) | 3,622.8
Deferred revenues (current) | 52.9 | 4.1 | 57.0
Deferred revenues (non-current) | 106.8 | (4.3) | 102.5
Deferred income taxes | 220.9 | (8.1) | 212.8
Total liabilities | 1,866.9 | (8.3) | 1,858.6
Retained earnings | 381.1 | (22.3) | 358.8
Total equity | 1,786.5 | (22.3) | 1,764.2
Total liabilities and equity | 3,653.4 | (30.6) | 3,622.8


Question: What were the total assets without the adoption of ASC 606?
Answer: 3,622.8
Common Stock Outstanding
The following represents the common stock outstanding for the fiscal year ended:
(1) During fiscal years 2018, 2017 and 2016, the Company’s Board of Directors authorized the repurchase of $350.0 million, $450.0 million and $400.0 million, respectively, of the Company’s common stock under share repurchase programs, which were repurchased during fiscal years 2019, 2018 and 2017, respectively.
Table:
 |  | Fiscal Year Ended August 31, | 
 | 2019 | 2018 | 2017
Common stock outstanding: |  |  | 
Beginning balances | 164,588,172 | 177,727,653 | 186,998,472
Shares issued upon exercise of stock options | 11,348 | 30,832 | 172,620
Shares issued under employee stock purchase plan | 1,282,042 | 1,105,400 | 1,228,316
Vesting of restricted stock | 1,983,261 | 2,727,229 | 2,102,049
Purchases of treasury stock under employee stock plans | (489,836) | (793,052) | (550,096)
Treasury shares purchased(1) | (13,854,607) | (16,209,890) | (12,223,708)
Ending balances | 153,520,380 | 164,588,172 | 177,727,653


Question: What years does the table provide information for the common stock outstanding for?
Answer: 2019, 2018, 2017
Earnings per share for the periods indicated were computed as follows (in thousands except per share amounts):
Our weighted average shares outstanding has decreased due to the repurchase of our outstanding common stock through a modified Dutch auction tender offer (the “Tender Offer”) and the stock repurchase program announced on October 29, 2018.
11.     Earnings Per Share
Table:
 | Year ended December 31, | 
 | 2019 | 2018
Numerators |  | 
Numerator for basic and diluted earnings per share: |  | 
Net income | $13,267 | $3,654
Denominators |  | 
Denominators for basic and diluted earnings per share: |  | 
Weighted average shares outstanding - basic | 17,424 | 20,721
Dilutive potential common shares |  | 
Stock options and awards | 1,101 | 296
Denominator for diluted earnings per share | 18,525 | 21,017
Net income per common share - basic | $0.76 | $0.18
Net income per common share – diluted | $0.72 | $0.17


Question: How did the company's basic weighted average shares outstanding change from 2018 to 2019?
Answer: -15.91
Calculation: (17,424-20,721)/20,721
Thomas Clark
(1) Represents accelerated vesting of 33,711 stock options. Pursuant to Mr. Clark’s stock option agreements (dated January 17, 2019), if Mr. Clark’s employment is terminated without cause or for good reason within six months following a “change in control”, he will become immediately vested in all outstanding unvested stock options, and all of Mr. Clark’s outstanding options shall remain exercisable in accordance with their terms, but in no event for less than 90 days after such termination. (1) Represents accelerated vesting of 33,711 stock options. Pursuant to Mr. Clark’s stock option agreements (dated January 17, 2019), if Mr. Clark’s employment is terminated without cause or for good reason within six months following a “change in control”, he will become immediately vested in all outstanding unvested stock options, and all of Mr. Clark’s outstanding options shall remain exercisable in accordance with their terms, but in no event for less than 90 days after such termination. (1) Represents accelerated vesting of 33,711 stock options. Pursuant to Mr. Clark’s stock option agreements (dated January 17, 2019), if Mr. Clark’s employment is terminated without cause or for good reason within six months following a “change in control”, he will become immediately vested in all outstanding unvested stock options, and all of Mr. Clark’s outstanding options shall remain exercisable in accordance with their terms, but in no event for less than 90 days after such termination.
(2) Represents accelerated vesting of 8,340 unvested performance restricted stock units. Pursuant to Mr. Clark’s performance restricted stock unit agreement (dated January 17, 2019), if Mr. Clark’s employment is terminated without cause or for good reason within six months following a “change in control” or if Mr. Clark's employment is terminated due to death or total disability, all non-vested units shall accelerate and be vested as of the date of termination.
Table:
Type of Payment | Termination by Systemax without “Cause” or Resignation by Employee for “good reason” ($) | Termination Due to Death or Total Disability ($) | Change In Control Only ($) | Termination by Systemax without “Cause” or Resignation by Employee for “good reason” within a certain period of time following a Change in Control ($)
Cash Compensation (Salary & Non-Equity Incentive Compensation) | - | - | - | -
Value of Accelerated Vesting of Stock Option Awards | - | - | - | 314,100 (1)
Value of Accelerated Vesting of Restricted Stock Unit Awards | - | - | - | -
Value of Accelerated Vesting of Performance Restricted Stock Unit Awards | - | 209,800 (2) | - | 209,800 (2)
Medical and Other Benefits | - | - | - | -
Total | - | 209,800 | - | 523,900


Question: What is the proportion of total payment as a result of termination due to death as a percentage of the overall payment due to Thomas Clark?
Answer: 28.59
Calculation: 209,800/ (209,800 + 523,900)
Note 20. Income Taxes
The Company’s income before income taxes consisted of the following (in thousands):
Table:
 |  | Years Ended December31, | 
 | 2019 | 2018 | 2017
Domestic (U.S., state and local) | $38,672 | $6,971 | $9,662
Foreign | 47,251 | 49,946 | 71,645
 | $85,923 | $56,917 | $81,307


Question: What was the  Foreign  income before income taxes in 2018?
Answer: 49,946
Billings
Group reported billings decreased by $8.3 million or 1.1 per cent to $760.3 million in the year-ended 31 March 2019. This represented a 0.1 per cent decrease on a constant currency (“CC”) basis.
Billings by region
Americas Billings attributable to the Americas decreased by $2.2 million to $267.8 million in the period, representing a 0.8 per cent reduction on a reported basis and 0.7 per cent on a constant currency basis; this decrease largely driven by a decline in Enduser products due to the stronger performance in the prior-year compare as a consequence of the impact of the WannaCry ransomware outbreak and the launch of Intercept X, the Group’s next-gen endpoint product, partially offset by an improved performance in UTM sales.
EMEA Billings attributable to EMEA increased by $0.2 million to $395.3 million in the period, representing 0.1 per cent growth on a reported basis and 0.9 per cent growth on a constant currency basis. An increase in sales of Server products being partially offset by a reduction in endpoint and email products.
APJ Billings attributable to APJ decreased by $6.3 million to $97.2 million in the period, representing 6.1 per cent on a reported basis and 2.8 per cent on a constant currency basis. As in the Americas, growth was negatively impacted by the stronger performance in the prior-year compare compounded by a legacy Network product transition in the first-half of the year partially offset by an improvement in sales of Server products.
Table:
 | FY19 | FY18 | Growth % | Growth %
 | $m (Reported) | $m (Reported) | (Reported) | (CC)
Billings by Region: |  |  |  | 
- Americas | 267.8 | 270.0 | (0.8) | (0.7)
- EMEA | 395.3 | 395.1 | 0.1 | 0.9
- APJ | 97.2 | 103.5 | (6.1) | (2.8)
 | 760.3 | 768.6 | (1.1) | (0.1)
Billings by Product: |  |  |  | 
– Network | 345.9 | 353.4 | (2.1) | (1.1)
– Enduser | 377.1 | 383.2 | (1.6) | (0.7)
– Other | 37.3 | 32.0 | 16.6 | 17.1
 | 760.3 | 768.6 | (1.1) | (0.1)
Billings by Type: |  |  |  | 
– Subscription | 644.6 | 644.2 | 0.1 | 1.0
– Hardware | 105.7 | 113.7 | (7.0) | (6.1)
– Other | 10.0 | 10.7 | (6.5) | (4.6)
 | 760.3 | 768.6 | (1.1) | (0.1)


Question: What was the change in Other in 2019 from 2018 under Billings by Product?
Answer: 5.3
Calculation: 37.3-32.0
10 Auditor’s Remuneration
The Group paid the following amounts to its auditor in respect of the audit of the historical financial information and for other non-audit services provided to the Group.
Table:
 | Year-ended 31 March 2019 | Year-ended 31 March 2018
 | $M | $M
Audit of the Financial Statements | 0.4 | 0.4
Subsidiary local statutory audits | 0.2 | 0.3
Total audit fees | 0.6 | 0.7
Other assurance services | 0.1 | 0.1
Total non-audit fees | 0.1 | 0.1


Question: In which year was the amount of Total audit fees larger?
Answer: 2018
Calculation: 0.7>0.6
4. Acquisitions and Divestitures
(a) Acquisition Summary
We completed five acquisitions during fiscal 2019. A summary of the allocation of the total purchase consideration is presented as follows (in millions):
On September 28, 2018, we completed our acquisition of privately held Duo Security, Inc. (“Duo”), a leading provider of unified access security and multi-factor authentication delivered through the cloud. Revenue from the Duo acquisition has been included in our Security product category.
On February 6, 2019, we completed our acquisition of Luxtera, Inc. (“Luxtera”), a privately held semiconductor company. Revenue from the Luxtera acquisition has been included in our Infrastructure Platforms product category.
The total purchase consideration related to our acquisitions completed during fiscal 2019 consisted of cash consideration and vested share-based awards assumed. The total cash and cash equivalents acquired from these acquisitions was approximately $100 million.
Table:
Fiscal 2019 | Purchase Consideration | Net Tangible Assets Acquired (Liabilities Assumed) | Purchased Intangible Assets | Goodwill
Duo | $2,025 | $(57) | $342 | $1,740
Luxtera | 596 | (19) | 319 | 296
Others (three in total) | 65 | 2 | 11 | 52
Total | $2,686 | $(74) | $672 | $2,088


Question: What was the difference in Goodwill between Duo and Luxtera?
Answer: 1444
Calculation: 1,740-296
FREE CASH FLOW AND DIVIDEND PAYOUT RATIO
The terms free cash flow and dividend payout ratio do not have any standardized meaning under IFRS. Therefore, they are unlikely to be comparable to similar measures presented by other issuers.
We define free cash flow as cash flows from operating activities, excluding acquisition and other costs paid (which include significant litigation costs) and voluntary pension funding, less capital expenditures, preferred share dividends and dividends paid by subsidiaries to NCI. We exclude acquisition and other costs paid and voluntary pension funding because they affect the comparability of our financial results and could potentially distort the analysis of trends in business performance. Excluding these items does not imply they are non-recurring.
We consider free cash flow to be an important indicator of the financial strength and performance of our businesses because it shows how much cash is available to pay dividends on common shares, repay debt and reinvest in our company. We believe that certain investors and analysts use free cash flow to value a business and its underlying assets and to evaluate the financial strength and performance of our businesses. The most comparable IFRS financial measure is cash flows from operating activities.
We define dividend payout ratio as dividends paid on common shares divided by free cash flow. We consider dividend payout ratio to be an important indicator of the financial strength and performance of our businesses because it shows the sustainability of the company’s dividend payments.
The following table is a reconciliation of cash flows from operating activities to free cash flow on a consolidated basis.
Table:
 | 2019 | 2018
Cash flows from operating activities | 7,958 | 7,384
Capital expenditures | (3,988) | (3,971)
Cash dividends paid on preferred shares | (147) | (149)
Cash dividends paid by subsidiaries to NCI | (65) | (16)
Acquisition and other costs paid | 60 | 79
Voluntary DB pension plan contribution | – | 240
Free cash flow | 3,818 | 3,567


Question: What is the change in cash flows from operating activities?
Answer: 574
Calculation: 7,958-7,384
Net revenues by geographical region
Percentage of revenue by geographic region as presented below is based on the billing location of the customer.
Percentages may not add to 100% due to rounding.
The Americas include U.S., Canada, and Latin America; EMEA includes Europe, Middle East, and Africa; APJ includes Asia Pacific and Japan.
Table:
 | Fiscal Year | 
 | 2019 | 2018
Americas | 64% | 63%
EMEA | 21% | 22%
APJ | 15% | 16%


Question: What is the change in percentage of revenue for Americas from fiscal 2018 to 2019?
Answer: 1
Calculation: 64-63
Capital expenditures
For 2019, capital expenditure was SEK 5.1 (4.0) billion, representing 2.3% of sales. Expenditures are largely related to test sites and equipment for R&D, network operation centers and manufacturing and repair operations.
The increase in 2019 was mainly due to investments in 5G test equipment.
Annual capital expenditures are normally around 2% of sales. This corresponds to the needs for keeping and maintaining the current capacity level. The Board of Directors reviews the Company’s investment plans and proposals.
As of December 31, 2019, no material land, buildings, machinery or equipment were pledged as collateral for outstanding indebtedness.
Table:
Capital expenditures 2017–2019 |  |  | 
SEK billion | 2019 | 2018 | 2017
Capital expenditures | 5.1 | 4.0 | 3.9
Of which in Sweden | 2.0 | 1.3 | 1.5
Share of annual sales | 2.3% | 1.9% | 1.9%


Question: What has been pledged as collateral for outstanding indebtedness in 2019?
Answer: no material land, buildings, machinery or equipment were pledged
Long-term state receivables include receivables related to funding and receivables related to tax refund. Funding are mainly public grants to be received from governmental agencies in Italy and France as part of longterm research and development, industrialization and capital investment projects. Long-term receivables related to tax refund correspond to tax benefits claimed by the Company in certain of its local tax jurisdictions, for which collection is expected beyond one year.
In 2019 and 2018, the Company entered into a factoring transaction to accelerate the realization in cash of some non-current assets. As at December 31, 2019, $131 million of the non-current assets were sold without recourse, compared to $122 million as at December 31, 2018, with a financial cost of less than $1 million for both periods.
Other non-current assets consisted of the following:
Table:
 | December 31, 2019 | December 31, 2018
Equity securities | 23 | 19
Long-term state receivables | 358 | 391
Deposits and other non-current assets | 56 | 42
Total | 437 | 452


Question: What is the average Deposits and other non-current assets?
Answer: 49
Calculation: (56+42) / 2
Contributions and Direct Benefit Payments
It is the company’s general practice to fund amounts for pensions sufficient to meet the minimum requirements set forth in applicable employee benefits laws and local tax laws. From time to time, the company contributes additional amounts as it deems appropriate.
The following table presents the contributions made to the non-U.S. DB plans, non pension postretirement benefit plans, multi-employer plans, DC plans and direct payments for 2019 and 2018. The cash contributions to the multi-employer plans represent the annual cost included in the net periodic (income)/ cost recognized in the Consolidated Income Statement. The company’s participation in multi-employer plans has no material impact on the company’s financial statements.
In 2019 and 2018, $635 million and $598 million, respectively, was contributed in U.S. Treasury securities, which is considered a non-cash transaction (includes the Active Medical Trust).
Table:
($ in millions) |  | 
For the year ended December 31: | 2019 | 2018
Non-U.S. DB plans | $  243 | $  325
Non pension postretirement benefit plans | 304 | 335
Multi-employer plans | 32 | 38
DC plans | 1,040 | 1,024
Direct benefit payments | 559 | 567
Total | $2,177 | $2,288


Question: In 2019, what was the amount contributed to US Treasury securities?
Answer: $635 million
NOTE 19 – DERIVATIVE FINANCIAL INSTRUMENTS
Please refer to note 21 “Financial Instruments” for further information on fair value hierarchies.
Table:
USDm | 2019 | 2018
Fair value of derivatives: |  | 
Derivative financial instruments regarding freight and bunkers: |  | 
Forward freight agreements | -0.3 | 0.5
Bunker swaps | - | -1.2
Derivative financial instruments regarding interest and currency exchange rate: |  | 
Forward exchange contracts | -0.4 | -1.8
Interest rate swaps | -11.1 | 2.8
Fair value of derivatives as of 31 December | -11.8 | 0.3


Question: What was the change in interest rate swaps from 2018 to 2019?
Answer: -13.9
Calculation: -11.1-2.8
7. Accrued Expenses
Accrued expenses consist of the following (in thousands):
Table:
 | August 31, 2019 | August 31, 2018
Contract liabilities | $511,329 | $—
Deferred income | — | 691,365
Accrued compensation and employee benefits | 600,907 | 570,400
Obligation associated with securitization programs | 475,251 | —
Other accrued expenses | 1,402,657 | 1,000,979
Accrued expenses | $2,990,144 | $2,262,744


Question: What was the change in Accrued compensation and employee benefits between 2018 and 2019?
Answer: 30507
Calculation: 600,907-570,400
Assets in the combined schemes increased by £177.1m to £5,040.7m in the period. RHM scheme assets increased by £149.1m to £4,333.6m while the Premier Foods’ schemes assets increased by £28.0m to £707.1m. The most significant movement by asset class is that of government bonds which increased by £444.0m in the year, predominantly in the RHM scheme.
Liabilities in the combined schemes increased by £121.0m in the year to £4,667.6m. The value of liabilities associated with the RHM scheme were £3,495.8m, an increase of £65.3m while liabilities in the Premier Foods schemes were £55.7m higher at £1,171.8m. The increase in the value of liabilities in both schemes is due to a lower discount rate assumption of 2.45% (31 March 2018: 2.70%) and an increase in the RPI inflation rate assumption; from 3.15% to 3.25%.
The Group’s Pension Trustees have just commenced the triennial actuarial valuation process of the Group’s pension schemes as at 31 March 2019 (RHM scheme) and 5 April 2019 (Premier Foods main scheme). This exercise typically takes a number of months to conclude; the output of which will be provided in due course.
The net present value of future deficit payments, to the end of the respective recovery periods remains at circa £300–320m.
Table:
Combined pensions schemes (£m) | 30 March 2019 | 31 March 2018
Assets |  | 
Equities | 179.5 | 296.5
Government bonds | 1,490.4 | 1,046.4
Corporate bonds | 26.9 | 20.7
Property | 436.5 | 391.0
Absolute return products | 1,141.2 | 1,323.3
Cash | 38.1 | 32.4
Infrastructure funds | 256.1 | 254.6
Swaps | 556.4 | 715.3
Private equity | 446.1 | 344.0
Other | 469.5 | 439.4
Total Assets | 5,040.7 | 4,863.6
Liabilities |  | 
Discount rate | 2.45% | 2.70%
Inflation rate (RPI/CPI) | 3.25%/2.15% | 3.15%/2.05%


Question: What was the change in the corporate bonds from 2018 to 2019?
Answer: 6.2
Calculation: 26.9 - 20.7
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.
In adopting ASC 606, the Company had the following significant changes in accounting principles:
(i) Timing of revenue recognition for uninstalled materials - The Company previously recognized the majority of its revenue from the installation or construction of commercial & public works projects using the percentage-of-completion method of accounting, whereby revenue is recognized as the Company progresses on the contract. The percentage-of-completion for each project was determined on an actual cost-to-estimated final cost basis. Under ASC 606, revenue and associated profit, is 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 is generally 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.
(ii) Completed contracts - The Company previously recognized the majority of its revenue from the installation of residential projects using the completed contract method of accounting whereby revenue the Company recognized when the project is completed. Under, ASC 606, revenue is recognized as the customer obtains control of the goods and services promised in the contract (i.e., performance obligations).
Revenue recognition for other sales arrangements such as the sales of materials will remain materially consistent with prior treatment.
The adoption of the new revenue recognition standard resulted in a cumulative effect adjustment to retained earnings of approximately $1,405 as of January 1, 2018. The details of this adjustment are summarized below.
Table:
 | Balance at December 31, 2017 | Adjustments Due to ASC 606 | Balance at January 1, 2018
Contract assets | $3,790 | $(584) | $3,206
Contract liabilities | 7,288 | 821 | 8,109
Accumulated deficit | (56,365) | (1,405) | (57,770)


Question: What is the percentage change in the contract liabilities after adjustments due to ASC606?
Answer: 11.27
Calculation: 821/7,288