hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
The following table summarizes stock-based compensation expense in the Company’s consolidated statements of operations:
For the year ended September 30, 2019, the Company granted 33,000 nonvested shares to certain key employees, 55,000 nonvested shares to certain officers including 35,000 shares granted to the Chief Executive Officer, and 20,000 nonvested shares
to its non-employee directors. For the year ended September 30, 2018, the Company granted 12,000 nonvested shares to certain key employees, 40,000 nonvested shares to certain officers including 30,000 to its Chief Executive Officer and 20,000 nonvested
shares to its non-employee directors.
The Company measures the fair value of nonvested stock awards based upon the market price of its common stock as of the date of grant. The Company used the Black-Scholes option-pricing model to value stock options. The Black-Scholes model requires the use of a number of assumptions including volatility of the Company’s stock price, the weighted average risk-free interest rate and the weighted average expected life of the options, at the time of grant. The expected dividend yield is equal to the divided per share declared, divided by the closing share price on the date the options were granted. All equity compensation awards granted for the years ended September 30, 2019 and September 30, 2018 were nonvested stock awards.
Table:
 | Years Ended | 
 | September 30, 2019 | September 30, 2018
 | (Amounts in thousands) | 
Cost of sales | $7 | $5
Engineering and development | 49 | 32
Selling, general and administrative | 736 | 654
Total | $792 | $691


Question: How many nonvested shares did the company grant to key employees for the year ended September 30, 2019?
Answer: 33,000
Outstanding Indebtedness
At December 31, 2019 and 2018, our total debt outstanding consisted of the amounts set forth in the following table.
(1) Amounts are net of unamortized discounts and debt issuance costs of $25 million and $24 million as of December 31, 2019 and 2018, respectively. See Note 14, “Debt and Credit Facilities,” of the Notes to Consolidated Financial Statements for further details.
Table:
 | December 31, | 
(In millions) | 2019 | 2018
Short-term borrowings | $ 98.9 | $ 232.8
Current portion of long-term debt | 16.7 | 4.9
Total current debt | 115.6 | 237.7
Total long-term debt, less current portion(1) | 3,698.6 | 3,236.5
Total debt | 3,814.2 | 3,474.2
Less: Cash and cash equivalents | (262.4) | (271.7)
Net debt | $ 3,551.8 | $ 3,202.5


Question: What is the average annual Total debt for years 2018 and 2019?
Answer: 3644.2
Calculation: (3,814.2+3,474.2)/2
The following table includes additional fair value information on financial assets and liabilities as at December 31, 2019 and 2018:
(1) Cash equivalents primarily correspond to deposits at call with banks.
(2) The carrying amount of the senior unsecured convertible bonds as reported above corresponds to the liability component only. For the convertible bonds issued on July 3, 2017 and outstanding as at December 31, 2017, the carrying amount of the senior unsecured convertible bonds corresponds to the liability component only, since, at initial recognition, an amount of $242 million was recorded directly in shareholders’ equity as the value of the equity instrument embedded in the convertible instrument.
Table:
 | 2019 | 2019 | 2019 | 2018 | 2018
 | Level | Carrying Amount | Estimated Fair Value | Carrying Amount | Estimated Fair Value
Cash equivalents (1) | 1 | 1,691 | 1,691 | 2,138 | 2,138
Long-term debt |  |  |  |  | 
– Bank loans (including current portion) | 2 | 718 | 718 | 594 | 594
– Senior unsecured convertible bonds (2) | 1 | 1,354 | 2,103 | 1,316 | 1,501


Question: What is the increase/ (decrease) in Senior unsecured convertible bonds of Carrying Amount from 2018 to 2019?
Answer: 38
Calculation: 1,354-1,316
OTHER INCOME (EXPENSE), NET
The components of other income (expense), net were as follows:
We use derivative instruments to: manage risks related to foreign currencies, equity prices, interest rates, and credit; enhance investment returns; and facilitate portfolio diversification. Gains and losses from changes in fair values of derivatives that are not designated as hedging instruments are primarily recognized in other income (expense), net.
Fiscal Year 2019 Compared with Fiscal Year 2018 Interest and dividends income increased primarily due to higher yields on fixed-income securities. Interest expense decreased primarily driven by a decrease in outstanding long-term debt due to debt maturities, offset in part by higher finance lease expense. Net recognized gains on investments decreased primarily due to lower gains on sales of equity investments. Net gains on derivatives includes gains on foreign exchange and interest rate derivatives in the current period as compared to losses in the prior period.
Fiscal Year 2018 Compared with Fiscal Year 2017 Dividends and interest income increased primarily due to higher average portfolio balances and yields on fixed-income securities. Interest expense increased primarily due to higher average outstanding long-term debt and higher finance lease expense. Net recognized gains on investments decreased primarily due to higher losses on sales of fixed-income securities, offset in part by higher gains on sales of equity securities. Net losses on derivatives decreased primarily due to lower losses on equity, foreign exchange, and commodity derivatives, offset in part by losses on interest rate derivatives in the current period as compared to gains in the prior period.
Table:
(In millions) |  |  | 
Year Ended June 30, | 2019 | 2018 | 2017
Interest and dividends income | $    2,762 | $    2,214 | $   1,387
Interest expense | (2,686) | (2,733) | (2,222)
Net recognized gains on investments | 648 | 2,399 | 2,583
Net gains (losses) on derivatives | 144 | (187) | (510)
Net losses on foreign currency remeasurements | (82) | (218) | (111)
Other, net | (57) | (59) | (251)
Total | $  729 | $ 1,416 | $  876


Question: What is the average interest and dividend income for the 3 year period from 2017 to 2019?
Answer: 2121
Calculation: (2,762+2,214+1,387)/3
Summary Disclosures about Contractual Obligations and Commercial Commitments
Our material capital commitments consist of obligations under facilities and operating leases. Some of these leases have free or escalating rent payment provisions. We recognize rent expense under leases on a straight-line basis. We anticipate that we will experience an increase in our capital expenditures and lease commitments as a result of our anticipated growth in operations, infrastructure, personnel and resources devoted to building our brand name.
The following table summarizes our obligations as of March 31, 2019 (dollars in thousands):
We generally do not enter into binding purchase obligations. The purchase obligations above relate primarily to marketing and IT services. The contractual obligations table above excludes unrecognized tax benefits, plus related interest and penalties totaling $1.1 million because we cannot reasonably estimate in which future periods these amounts will ultimately be settled.
We have certain software royalty commitments associated with the shipment and licensing of certain products. Royalty expense is generally based on a fixed cost per unit shipped or a fixed fee for unlimited units shipped over a designated period. Royalty expense, included in cost of software and products revenues was $12.3 million in fiscal 2019 and $4.5 million million in fiscal 2018.
We offer a 90-day limited product warranty for our software. To date, costs relating to this product warranty have not been material.
Table:
 |  |  | Payments Due by Period |  | 
 | Total | Less Than 1 Year | 2-3 Years | 4-5 Years | More Than 5 Years
Operating lease obligations | $23,673 | $9,008 | $10,907 | $2,827 | $931
Purchase obligations | 20,520 | 16,748 | 3,669 | 103 | —
Total | $44,193 | $25,756 | $14,576 | $2,930 | $931


Question: How much was the royalty expense in fiscal 2019 and fiscal 2018 respectively?
Answer: $12.3 million, $4.5 million
table of contents the following performance graph is not 201csoliciting material , 201d is not deemed filed with the sec , and is not to be incorporated by reference into any of valero 2019s filings under the securities act of 1933 or the securities exchange act of 1934 , as amended , respectively . this performance graph and the related textual information are based on historical data and are not indicative of future performance . the following line graph compares the cumulative total return 1 on an investment in our common stock against the cumulative total return of the s&p 500 composite index and an index of peer companies ( that we selected ) for the five-year period commencing december 31 , 2007 and ending december 31 , 2012 . our peer group consists of the following ten companies : alon usa energy , inc. ; bp plc ( bp ) ; cvr energy , inc. ; hess corporation ; hollyfrontier corporation ; marathon petroleum corporation ; phillips 66 ( psx ) ; royal dutch shell plc ( rds ) ; tesoro corporation ; and western refining , inc . our peer group previously included chevron corporation ( cvx ) and exxon mobil corporation ( xom ) but they were replaced with bp , psx , and rds . in 2012 , psx became an independent downstream energy company and was added to our peer group . cvx and xom were replaced with bp and rds as they were viewed as having operations that more closely aligned with our core businesses . comparison of 5 year cumulative total return1 among valero energy corporation , the s&p 500 index , old peer group , and new peer group .

Table:
 | 12/2007 | 12/2008 | 12/2009 | 12/2010 | 12/2011 | 12/2012
valero common stock | $ 100.00 | $ 31.45 | $ 25.09 | $ 35.01 | $ 32.26 | $ 53.61
s&p 500 | 100.00 | 63.00 | 79.67 | 91.67 | 93.61 | 108.59
old peer group | 100.00 | 80.98 | 76.54 | 88.41 | 104.33 | 111.11
new peer group | 100.00 | 66.27 | 86.87 | 72.84 | 74.70 | 76.89
____________ 1 assumes that an investment in valero common stock and each index was $ 100 on december 31 , 2007 .
201ccumulative total return 201d is based on share price appreciation plus reinvestment of dividends from december 31 , 2007 through december 31 , 2012. .

Question: what was the percentage growth of the s&p 500 common stock from 2007 to 2012
Answer: 8.59%
Calculation: subtract(108.59, 100.00), divide(#0, 100.00)
Segment Product Revenue, Operating Income and Operating Income as a Percentage of Revenue
Infrastructure and Defense Products
IDP revenue increased $104.2 million, or 13.2%, in fiscal 2019, compared to fiscal 2018, primarily due to higher demand for our base station products.
IDP operating income increased $31.6 million, or 13.4%, in fiscal 2019, compared to fiscal 2018, primarily due to higher revenue, partially offset by lower gross margin (which was negatively impacted by lower factory utilization).
See Note 16 of the Notes to the Consolidated Financial Statements set forth in Part II, Item 8 of this report for a reconciliation of segment operating income to the consolidated operating income for fiscal years 2019, 2018 and 2017.
Table:
Fiscal Year |  | 
(In thousands, except percentages) | 2019 | 2018
Revenue | $892,665 | $788,495
Operating income | $267,304 | $235,719
Operating income as a % of revenue | 29.9% | 29.9%


Question: What is the total revenue in 2018 and 2019?
Answer: 1681160
Calculation: ($788,495 + $892,665)
Contractual Obligations and Commercial Commitments
We lease office space and equipment under operating leases that run through October 2028. Additionally, we have entered into a Credit Agreement that matures in April 2024 and have issued Senior Notes that mature in August 2026.
Contractual obligations as of December 31, 2019, are as follows (in thousands):
(1) Based on the Term Loans debt outstanding and interest rate in effect at December 31, 2019, of 4.05%.
(2) Based on Revolving Credit Facility debt outstanding and interest rate in effect at December 31, 2019, of 3.99%.
(3) Based on 2026 Notes issued of $400.0 million with an annual interest rate of 5.750%.
(4) During the year ended December 31, 2019, we financed certain multi-year license agreements for internal-use software for $10.4 million with annual payments through April 1, 2022. As of December 31, 2019, $13.8 million is outstanding under these and other agreements previously entered into, of which $6.0 million and $7.8 million is included in other current liabilities and other noncurrent liabilities, respectively, in our Consolidated Balance Sheet in Part IV, Item 15 of this Form 10-K as of December 31, 2019.
We are unable to reasonably estimate the ultimate amount or timing of settlement of our reserves for income taxes under ASC 740, Income Taxes. The liability for unrecognized tax benefits at December 31, 2019, is $29.0 million.
Table:
 |  |  | Payments Due by Period |  | 
 | Total | Less than 1 year | 1-3 years | 3-5 years | More than 5 years
Operating lease obligations | $ 70,284 | $ 17,180 | $ 23,116 | $ 12,738 | $ 17,250
Term loans | 756,060 | 38,950 | 89,381 | 627,729 | —
Term loans interest (1) | 117,168 | 30,025 | 55,232 | 31,911 | —
Revolving credit facility | 239,000 | — | — | 239,000 | —
Revolving credit facility interest (2) | 40,528 | 9,536 | 19,072 | 11,920 | —
Senior notes | 400,000 | — | — | — | 400,000
Senior notes interest (3) | 149,500 | 23,000 | 46,000 | 46,000 | 34,500
Financed internal-use software (4) | 13,822 | 5,974 | 7,848 | — | —
Total | $1,786,362 | $124,665 | $240,649 | $969,298 | $451,750


Question: What was the total term loans?
Answer: 756,060
Selling, General and Administrative
The increase in selling, general and administrative in fiscal 2019 compared to fiscal 2018 was primarily due to higher variable costs on increased sales volumes, primarily related to increases in headcount costs and employee incentive compensation, as well as additional costs from the FRT acquisition, offset partially by a decrease in the amortization of intangible assets.
Table:
 |  | Fiscal Year Ended |  | 
 | December 28, 2019 | December 29, 2018 | $ Change | % Change
 |  | (Dollars in thousands) |  | 
Selling, general and administrative | $106,335 | $99,254 | $7,081 | 7.1 %
% of revenues | 18.0 % | 18.7 % |  | 
 |  | Fiscal Year Ended |  | 
 | December 29, 2018 | December 30, 2017 | $ Change | % Change
 |  | (Dollars in thousands) |  | 
Selling, general and administrative | $99,254 | $95,489 | $3,765 | 3.9 %
% of revenues | 18.7 % | 17.4 % |  | 


Question: What led to increase in selling, general and administrative in fiscal 2019 compared to fiscal 2018?
Answer: The increase in selling, general and administrative in fiscal 2019 compared to fiscal 2018 was primarily due to higher variable costs on increased sales volumes
AMERICAN TOWER CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Tabular amounts in millions, unless otherwise disclosed)
2. PREPAID AND OTHER CURRENT ASSETS
Prepaid and other current assets consisted of the following:
The reduction in Prepaid operating ground leases is a result of the reclassification of assets to the Right-of-use asset in connection with the Company’s adoption of the new lease accounting standard.
Table:
 | As of December 31, 2019 | As of December 31, 2018
Unbilled receivables | $142.3 | $126.1
Prepaid income tax | 185.8 | 125.1
Value added tax and other consumption tax receivables | 71.3 | 86.3
Prepaid assets | 56.8 | 40.5
Prepaid operating ground leases | — | 165.0
Other miscellaneous current assets | 57.4 | 78.2
Prepaid and other current assets | $513.6 | $621.2


Question: What was the percentage change in Prepaid and other current assets between 2018 and 2019?
Answer: -17.32
Calculation: ($513.6-$621.2)/$621.2
Financials
1. EBITDA is a non-IFRS term, defined as earnings before interest, tax, depreciation and amortisation, and excluding net foreign exchange gains (losses).
2. NPATA is a non-IFRS term, defined as net profit after tax, excluding tax-effected amortisation of acquired intangibles. This is used to determine EPSa as disclosed here and in the audited Remuneration Report.
3. Underlying EBITDA, underlying NPAT and underlying NPATA exclude separately disclosed items, which represent the transaction and other restructuring costs associated with the Sigma acquisition (2018: Enoro acquisition) and the exiting of a premises lease in the Americas. Further details of the separately disclosed items are outlined in Note 4 to the Financial Report.
Operating revenue for FY19 was $231.3 million, $0.5 million up on FY18. With Sigma contributing $5.0 million of revenue in June (the first month since acquisition), revenues for the remainder of Hansen excluding Sigma were $4.5 million lower. This decline was a result of lower non-recurring revenues, due primarily to both lower one-off licence fees and reduced project work following the large body of work completed in the first half of FY18 associated with implementing Power of Choice in Australia. Conversely, recurring revenues grew to represent 63% of total operating revenue.
Underlying EBITDA for the year was $55.8 million, 7.0% down on the $60.0 million in FY18. This resulted in an underlying EBITDA margin decline to 24.1% from 26.0% in FY18. Sigma only contributed a modest $0.1 million of EBITDA in June, which we do not see as representative of the business going forward. Excluding Sigma, the underlying EBITDA margin was 24.6%. This reduced margin was the direct result of the lower non-recurring revenue, as we were able to maintain operating expenses at the same level as FY18, even after the investment in the Vietnam Development Centre.
Table:
A$ Million | FY19 | FY18 | Variance %
Operating revenue | 231.3 | 230.8 | 0.2%
Underlying EBITDA 1, 3 | 55.8 | 60.0 | (7.0%)
Underlying NPAT 3 | 24.0 | 29.5 | (18.7%)
Underlying NPATA 2, 3 | 33.7 | 38.7 | (12.9%)
Basic EPS based on underlying NPATA (cents) 2 | 17.1 | 19.8 | (13.6%)


Question: What was the average operating revenue for the two FYs?
Answer: 231.05
Calculation: (231.3 + 230.8)/2
ITEM 6. SELECTED FINANCIAL DATA
The selected financial data presented below has been derived from our audited consolidated financial statements. This data should be read in conjunction with “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Item 8. Financial Statements and Supplementary Data” of this Annual Report.
(1) We elected to early adopt Accounting Standards Update (“ASU”) 2016-09 “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting” (“ASU 2016-09”) in 2016, which requires us, among other things, to prospectively record excess tax benefits as a reduction of the provision for income taxes in the consolidated statement of operations, whereas they were previously recognized in equity.
(2) We retrospectively adopted ASU 2014-09, “Revenue from Contracts with Customers (Topic 606)” in 2018. As a result, we have adjusted balances for 2017 and 2016. We have not adjusted 2015 for ASU 2014-09.
Table:
(in thousands, except per share amounts) | 2019 | 2018 | 2017 | 2016 | 2015
Consolidated Statements of Operations Data (1) (2): |  |  |  |  | 
Revenue: |  |  |  |  | 
Perpetual license | $80,015 | 109,863 | 132,883 | 145,053 | 166,305
Term license | 199,433 | 178,256 | 206,411 | 152,231 | 109,283
Maintenance | 280,580 | 263,875 | 242,320 | 218,635 | 202,802
Cloud | 133,746 | 82,627 | 51,097 | 40,647 | 30,626
Consulting | 217,609 | 256,960 | 255,756 | 205,663 | 173,679
Total revenue | $911,383 | 891,581 | 888,467 | 762,229 | 682,695
(Loss) income from operations | $(134,878) | $(17,032) | $93,177 | $50,644 | $64,661
Net (loss) income | $(90,433) | $10,617 | $98,548 | $45,015 | $36,322
(Loss) earnings per share |  |  |  |  | 
Basic | $(1.14) | $0.14 | $1.27 | $0.59 | $0.47
Diluted | $(1.14) | $0.13 | $1.19 | $0.56 | $0.46
Cash dividends declared per common share | $0.12 | $0.12 | $0.12 | $0.12 | $0.12


Question: What is the percentage change in the revenue earned from perpetual license between 2018 and 2019?
Answer: -27.17
Calculation: (80,015 - 109,863)/109,863
10 Taxation (continued)
The tax expense for 2019 is higher and the tax credit for 2018 is lower than the standard rate of corporation tax in the UK. The differences are explained below:
1 The unprovided deferred tax predominantly relates to revenue losses, property fair values and derivative fair values.
Factors that may affect future current and total tax charges
Management uses judgement in assessing compliance with REIT legislation
The Group believes it continued to operate as a UK REIT throughout the year, under which any profits and gains from the UK property investment business are exempt from corporation tax, provided certain conditions continue to be met. The Group believes that these UK REIT conditions have been fulfilled throughout the year.
In view of the announced short-term reduction of dividends there will be an underpayment of the minimum PID, and therefore under REIT legislation, the Group will incur UK corporation tax payable at 19 per cent while remaining a REIT.
The ongoing current tax expense in the year of £16.0 million includes £15.7 million relating to corporation tax on the estimated current period underpayment of the minimum PID. This amount has been included within the Group’s measure of underlying earnings as it relates to a tax expense on current year UK rental income.
The UK exceptional current tax expense in the year of £6.4 million represents in full the corporation tax arising in the current year in respect of the prior year underpayment of the minimum PID. This one-off tax expense in respect of prior year profits has been classified as exceptional (see accounting policy in note 2) based on its incidence, and so is excluded from the Group’s measure of underlying earnings.
Table:
£m | 2019 | 2018
Loss before tax, joint ventures and associates | (1,856.8) | (1,139.6)
Loss before tax multiplied by the standard rate of tax in the UK of 19% (2018: 19%) | (352.8) | (216.6)
Exempt property rental profits and revaluations | 307.0 | 214.9
 | (45.8) | (1.7)
Tax on shortfall of minimum PID | 22.1 | –
Additions and disposals of property and investments | 7.1 | 0.3
Non-deductible and other items | 3.4 | 3.4
Overseas taxation | (3.4) | (0.4)
Unprovided deferred tax1 | 22.4 | (7.3)
Total tax expense/(credit) | 5.8 | (5.7)


Question: What does the ongoing current tax expense in the year of  £16.0 million include?
Answer: includes £15.7 million relating to corporation tax on the estimated current period underpayment of the minimum PID
17. Income Taxes
Income before income taxes for the Company’s domestic and foreign operations was as follows:
Table:
 |  | Years Ended June 30, | 
($ in millions) | 2019 | 2018 | 2017
Domestic | $204.2 | $140.3 | $56.0
Foreign | 11.8 | 19.9 | 14.2
Income before income taxes | $216.0 | $160.2 | $70.2


Question: In which year was Foreign largest?
Answer: 2018
Calculation: 19.9>14.2>11.8
SUPERVISORY BOARD
The following table sets forth information concerning all remuneration (base compensation, no bonuses or pensions were paid) from the Company (including its subsidiaries) for services in all capacities to all current and former members of the Supervisory Board of the Company:
1 Period January 1 to May 28, 2018
2 Period as of May 28, 2018
The remuneration of members of the Supervisory Board has been determined by the 2018 Annual General Meeting of Shareholders.
No stock options or performance shares have been granted to members of the Supervisory Board.
Table:
 | Year ended  December 31 | 
 | 2018 | 2019
Supervisory Board: |  | 
J.C. Lobbezoo | 78.6 | 83.5
H.W. Kreutzer 1) | 21.4 | 0.0
M.C.J. van Pernis | 56.0 | 58.5
U.H.R. Schumacher | 53.5 | 56.0
S. Kahle-Galonske | 55.9 | 60.0
M.J.C. de Jong 2) | 34.0 | 57.5
TOTAL | 299.4 | 315.5


Question: In 2019, who are the members that received more than 60.0 in remuneration?
Answer: J.C. Lobbezoo
Calculation: For Col4 rows 4 to 9 find the values that are >60.0 and the corresponding member in col2