hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
Adjusted EBITDA. Adjusted EBITDA represents our net loss before interest and investment income, net and interest expense, provision for income taxes, depreciation and amortization expense, loss on extinguishment of convertible notes and stock-based compensation expense. We do not consider these items to be indicative of our core operating performance. The items that are non-cash include depreciation and amortization expense and stock-based compensation expense.
Adjusted EBITDA is a measure used by management to understand and evaluate our core operating performance and trends and to generate future operating plans, make strategic decisions regarding the allocation of capital and invest in initiatives that are focused on cultivating new markets for our solutions. In particular, the exclusion of certain expenses in calculating adjusted EBITDA facilitates comparisons of our operating performance on a period-to-period basis.
Adjusted EBITDA is not a measure calculated in accordance with GAAP. We believe that adjusted EBITDA provides useful information to investors and others in understanding and evaluating our operating results in the same manner as our management and board of directors. Nevertheless, use of adjusted EBITDA has limitations as an analytical tool, and you should not consider it in isolation or as a substitute for analysis of our financial results as reported under GAAP.
Some of these limitations are: (1) although depreciation and amortization are non-cash charges, the capitalized software that is amortized will need to be replaced in the future, and adjusted EBITDA does not reflect cash capital expenditure requirements for such replacements or for new capital expenditure requirements; (2) adjusted EBITDA does not reflect changes in, or cash requirements for, our working capital needs;
(3) adjusted EBITDA does not reflect the potentially dilutive impact of equity-based compensation; (4) adjusted EBITDA does not reflect tax payments or receipts that may represent a reduction or increase in cash
available to us; and (5) other companies, including companies in our industry, may calculate adjusted EBITDA or similarly titled measures
differently, which reduces the usefulness of the metric as a comparative measure.
Because of these and other limitations, you should consider adjusted EBITDA alongside our other GAAP-based financial performance measures, net loss and our other GAAP financial results. The following table presents a reconciliation of adjusted EBITDA to net loss, the most directly comparable GAAP measure, for each of the periods indicated (in thousands):
Table:
 |  | Year Ended December 31, | 
 | 2019 | 2018 | 2017
Net loss | $(52,250) | $(47,515) | $(19,634)
Interest and investment (income) expense, net | 2,979 | 4,504 | 216
Provision for income taxes | 425 | 796 | 47
Depreciation and amortization | 19,671 | 13,693 | 10,207
Loss on extinguishment of convertible notes | 1,406 | — | —
Stock-based compensation | 33,489 | 25,825 | 9,299
Adjusted EBITDA | $5,720 | $(2,697) | $135


Question: What is the average Interest and investment (income) expense, net for 2017-2019?
Answer: 2566.33
Calculation: (2,979 + 4,504 + 216) / 3
Option Exercises and Stock Vested in Fiscal 2019
The following table sets forth certain details with respect to each of the Named Executive Officers concerning the exercise of stock options and vesting of stock in Fiscal 2019:
(1) “Value realized on exercise” is the excess of the market price, at date of exercise, of the shares underlying the options over the exercise price of the options.
(2) “Value realized on vesting” is the market price of the underlying Common Shares on the vesting date.
(3) Relates to the vesting of PSUs and RSUs under our Fiscal 2018 LTIP.
Table:
 | Option Awards |  | Stock Awards (3) | 
Name | Number of Shares Acquired on Exercise (#) | Value Realized on Exercise(1) ($) | Number of Shares Acquired on Vesting (#) | Value Realized on Vesting(2) ($)
Mark J. Barrenechea | 135,208 | $2,801,023 | 65,820 | $7,625,905
Madhu Ranganathan | — | $— | — | $—
Muhi Majzoub | 100,000 | $2,592,411 | 10,900 | $1,263,646
Gordon A. Davies | — | $— | 12,840 | $1,486,870
Simon Harrison | 26,504 | $714,495 | 8,980 | $346,808


Question: For Simon Harrison, what is the average value of each share aquired on vesting?
Answer: 38.62
Calculation: 346,808/8,980
part ii item 5 . market for registrant 2019s common equity and related stockholder matters recent sales of unregistered securities during the fourth quarter of 2003 , aes issued an aggregated of 20.2 million shares of its common stock in exchange for $ 20 million aggregate principal amount of its senior notes . the shares were issued without registration in reliance upon section 3 ( a ) ( 9 ) under the securities act of 1933 . market information our common stock is currently traded on the new york stock exchange ( 2018 2018nyse 2019 2019 ) under the symbol 2018 2018aes . 2019 2019 the following tables set forth the high and low sale prices for our common stock as reported by the nyse for the periods indicated . price range of common stock .

Table:
2003 first quarter | high $ 4.04 | low $ 2.72 | 2002 first quarter | high $ 17.84 | low $ 4.11
second quarter | 8.37 | 3.75 | second quarter | 9.17 | 3.55
third quarter | 7.70 | 5.91 | third quarter | 4.61 | 1.56
fourth quarter | 9.50 | 7.57 | fourth quarter | 3.57 | 0.95
holders as of march 3 , 2004 , there were 9026 record holders of our common stock , par value $ 0.01 per share .
dividends under the terms of our senior secured credit facilities , which we entered into with a commercial bank syndicate , we are not allowed to pay cash dividends .
in addition , under the terms of a guaranty we provided to the utility customer in connection with the aes thames project , we are precluded from paying cash dividends on our common stock if we do not meet certain net worth and liquidity tests .
our project subsidiaries 2019 ability to declare and pay cash dividends to us is subject to certain limitations contained in the project loans , governmental provisions and other agreements that our project subsidiaries are subject to .
see item 12 ( d ) of this form 10-k for information regarding securities authorized for issuance under equity compensation plans. .

Question: in q1 2003 , what was the average of the high and low stock price?
Answer: 3.38
Calculation: add(4.04, 2.72), divide(#0, const_2)
16. FINANCIAL INSTRUMENTS AND OTHER FAIR VALUE DISCLOSURES
The majority of NAT and its subsidiaries’ transactions, assets and liabilities are denominated in United States dollars, the functional currency of the Company. There is no significant risk that currency fluctuations will have a negative effect on the value of the Company’s cash flows.
The Company categorizes its fair value estimates using a fair value hierarchy based on the inputs used to measure fair value for those assets that are recorded on the Balance Sheet at fair value. The fair value hierarchy has three levels based on the reliability of the inputs used to determine fair value as follows:
Level 1. Quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity can access at the measurement date.
Level 2. Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and
Level 3. Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.
The following methods and assumptions were used to estimate the fair value of each class of financial instruments and other financial assets.
-  The carrying value of cash and cash equivalents and marketable securities, is a reasonable estimate of fair value.
-  The estimated fair value for the long-term debt is considered to be equal to the carrying values since it bears spreads and variable interest rates which approximate market rates.
The carrying value and estimated fair value of the Company`s financial instruments at December 31, 2019 and 2018, are as follows:
* The 2019 Senior Secured Credit Facility and Vessel financing 2018 Newbuildings carry a floating LIBOR interest rate, plus a margin and the fair value is assumed to equal the carrying value.
Table:
All figures in USD ‘000  | Fair Value
Hierarchy
Level | 2019
Fair
Value | 2019
Carrying
Value | 2018
Fair
Value | 2018
Carrying
Value
Recurring:                |  |  |  |  | 
Cash and Cash Equivalents   | 1 | 48,847 | 48,847 | 49,327 | 49,327
Restricted Cash   | 1 | 12,791 | 12,791 | - | -
Credit Facility   | 2 | - | - | (313,400) | (313,400)
2019 Senior Secured Credit Facility*   | 2 | (291,798) | (291,798) | - | -
Investment Securities   | 1 | 825 | 825 | 4,197 | 4,197
Vessel financing 2018 Newbuildings*   | 2 | (119,867) | (119,867) | (127,140) | (127,140)


Question: What is the average value of the 2018 and 2019 fair value of the company's vessel financing 2018 newbuildings?
Answer: 123503.5
Calculation: (127,140 + 119,867)/2
Our property business includes the operation of communications sites and managed networks, the leasing of property interests, and, in select markets, the operation of fiber and the provision of backup power through shared generators. Our presence in a number of markets at different relative stages of wireless development provides us with significant diversification and long-term growth potential. Our property segments accounted for the following percentage of consolidated total revenue for the years ended December 31,:
Communications Sites. Approximately 95%, 96% and 97% of revenue in our property segments was attributable to our communications sites, excluding DAS networks, for the years ended December 31, 2019, 2018 and 2017, respectively.
We lease space on our communications sites to tenants providing a diverse range of communications services, including cellular voice and data, broadcasting, mobile video and a number of other applications. In addition, in many of our international markets, we receive pass-through revenue from our tenants to cover certain costs, including power and fuel costs and ground rent. Our top tenants by revenue for each region are as follows for the year ended December 31, 2019: • U.S.: AT&T Inc. (“AT&T”); Verizon Wireless; T-Mobile US, Inc. (“T-Mobile”); and Sprint Corporation (“Sprint”) accounted for an aggregate of 89% of U.S. property segment revenue. T-Mobile and Sprint have announced plans to merge in 2020. • Asia: Vodafone Idea Limited; Bharti Airtel Limited (“Airtel”); and Reliance Jio accounted for an aggregate of 83% of Asia property segment revenue. • Africa: MTN Group Limited (“MTN”); and Airtel accounted for an aggregate of 74% of Africa property segment revenue. • Europe: Telefónica S.A (“Telefónica”); Bouygues; and Free accounted for an aggregate of 70% of Europe property segment revenue. • Latin America: Telefónica; AT&T; and América Móvil accounted for an aggregate of 58% of Latin America property segment revenue.
Table:
 | 2019 | 2018 | 2017
U.S. | 55% | 51% | 55%
Asia | 16% | 21% | 17%
Africa | 8% | 7% | 7%
Europe | 2% | 2% | 2%
Latin America | 18% | 17% | 18%


Question: What is the sum of the three highest contributing property segments in 2017?
Answer: 90
Calculation: 55%+18%+17%
The following highlights net sales by geographic location (amounts in thousands):
(1) Revenues are attributed to countries or regions based on the location of the customer. Net Sales to one customer, TTI, Inc., exceeded 10% of total net sales as follows: $184.3 million, $133.5 million and $104.4 million in fiscal years 2019, 2018 and 2017, respectively.
(2) No country included in this caption exceeded 3% of consolidated net sales for fiscal years 2019, 2018 and 2017.
(3) Fiscal years ended March 31, 2018 and 2017 adjusted due to the adoption of ASC 606.
Table:
 |  | Fiscal Years Ended March 31,(1) | 
 | 2019 | 2018 | 2017
United States | $292,980 | $233,133 | $198,250
Hong Kong | 188,102 | 169,073 | 121,813
Germany | 124,805 | 105,548 | 104,755
Europe (2) (3) | 76,149 | 64,248 | 63,863
China | 173,148 | 163,016 | 71,223
Taiwan | 88,853 | 78,728 | 9,147
Asia Pacific (2) | 47,233 | 36,647 | 26,878
Japan | 178,502 | 170,282 | 3,565
United Kingdom | 42,472 | 37,038 | 33,837
Netherlands | 44,065 | 39,684 | 32,478
Malaysia | 33,748 | 28,165 | 15,177
Singapore | 19,417 | 17,267 | 15,565
Italy | 15,551 | 17,905 | 15,376
Hungary | 12,245 | 13,254 | 18,856
Mexico | 44,267 | 23,915 | 22,424
Other Countries (2) | 1,281 | 2,278 | 4,131
Total Non-United States (3) | 1,089,838 | 967,048 | 559,088
 | $1,382,818 | $1,200,181 | $757,338


Question: What was the percentage change in the net sales from Other Countries between 2018 and 2019?
Answer: -43.77
Calculation: (1,281-2,278)/2,278
ALTERNATIVE PERFORMANCE MEASURES
Time Charter Equivalent (TCE) earnings:
TORM defines TCE earnings, a performance measure, as revenue after port expenses, bunkers and commissions incl. freight and bunker derivatives. The Company reports TCE earnings because we believe it provides additional meaningful information to investors in relation to revenue, the most directly comparable IFRS measure. TCE earnings is a standard shipping industry performance measure used primarily to compare period-to-period changes in a shipping company’s performance irrespective of changes in the mix of charter types (i.e. spot charters, time charters and bareboat charters) under which the vessels may be employed between the periods. Below is presented a reconciliation from Revenue to TCE earnings:
Table:
USDm | 2019 | 2018 | 2017
Reconciliation to revenue |  |  | 
Revenue | 692.6 | 635.4 | 657.0
Port expenses, bunkers and commissions | -267.7 | -283.0 | -259.9
TCE earnings | 424.9 | 352.4 | 397.1


Question: In which year was Revenue the largest?
Answer: 2019
Calculation: 692.6>657.0>635.4
item 2 : properties information concerning applied 2019s properties is set forth below: .

Table:
( square feet in thousands ) | united states | other countries | total
owned | 4530 | 2417 | 6947
leased | 1037 | 1341 | 2378
total | 5567 | 3758 | 9325
because of the interrelation of applied 2019s operations , properties within a country may be shared by the segments operating within that country .
the company 2019s headquarters offices are in santa clara , california .
products in semiconductor systems are manufactured in santa clara , california ; austin , texas ; gloucester , massachusetts ; kalispell , montana ; rehovot , israel ; and singapore .
remanufactured equipment products in the applied global services segment are produced primarily in austin , texas .
products in the display and adjacent markets segment are manufactured in alzenau , germany and tainan , taiwan .
other products are manufactured in treviso , italy .
applied also owns and leases offices , plants and warehouse locations in many locations throughout the world , including in europe , japan , north america ( principally the united states ) , israel , china , india , korea , southeast asia and taiwan .
these facilities are principally used for manufacturing ; research , development and engineering ; and marketing , sales and customer support .
applied also owns a total of approximately 269 acres of buildable land in montana , texas , california , israel and italy that could accommodate additional building space .
applied considers the properties that it owns or leases as adequate to meet its current and future requirements .
applied regularly assesses the size , capability and location of its global infrastructure and periodically makes adjustments based on these assessments. .

Question: what portion of company's property is located in united states?
Answer: 59.7%
Calculation: divide(5567, 9325)
Uncertain Tax Positions
As of December 31, 2019, 2018 and 2017, we had gross unrecognized tax benefits of $4.4 million, $4.2 million
and $3.8 million, respectively. Accrued interest expense related to unrecognized tax benefits is recognized as part of
our income tax provision in our consolidated statements of operations and is immaterial for the years ended
December 31, 2019 and 2018. Our policy for classifying interest and penalties associated with unrecognized income
tax benefits is to include such items in income tax expense.
The activity related to the unrecognized tax benefits is as follows (in thousands):
These amounts are related to certain deferred tax assets with a corresponding valuation allowance. As ofDecember 31, 2019, the total amount of unrecognized tax benefits, if recognized, that would affect the effective taxrate is $1.0 million. We do not anticipate a material change to our unrecognized tax benefits over the next twelvemonths. Unrecognized tax benefits may change during the next twelve months for items that arise in the ordinarycourse of business.
We are subject to taxation in the United States, various states, and several foreign jurisdictions. Because we havenet operating loss and credit carryforwards, there are open statutes of limitations in which federal, state and foreigntaxing authorities may examine our tax returns for all years from 2005 through the current period. We are notcurrently under examination by any taxing authorities.
Table:
 | Years Ended December 31, |  | 
 | 2019 | 2018 | 2017
Gross unrecognized tax benefits —beginning balance | $4,191 | $3,782 | $3,360
Increases (decrease) related to tax positions from prior years | (280) | (266) | (151)
Increases related to tax positions taken during current year | 530 | 675 | 573
Decreases related to tax positions taken during the current year | — | — | —
Gross unrecognized tax benefits —ending balance | $4,441 | $4,191 | $3,782


Question: What is the company's unrecognized tax benefit in 2017?
Answer: $3,782
IMPAIRMENT TESTING
As described in Note 2, Significant accounting policies, goodwill is tested annually for impairment by comparing the carrying value of a CGU or group of CGUs to the recoverable amount, where the recoverable amount is the higher of fair value less costs of disposal or value in use.
VALUE IN USE
The value in use for a CGU or group of CGUs is determined by discounting five-year cash flow projections derived from business plans reviewed by senior management. The projections reflect management’s expectations of revenue, segment profit, capital expenditures, working capital and operating cash flows, based on past experience and future expectations of operating performance.
Cash flows beyond the five-year period are extrapolated using perpetuity growth rates. None of the perpetuity growth rates exceed the long-term historical growth rates for the markets in which we operate.
The discount rates are applied to the cash flow projections and are derived from the weighted average cost of capital for each CGU or group of CGUs.
The following table shows the key assumptions used to estimate the recoverable amounts of the groups of CGUs.
The recoverable amounts determined in a prior year for the Bell Wireless and Bell Wireline groups of CGUs exceed their corresponding current carrying values by a substantial margin and have been carried forward and used in the impairment test for the current year. We believe that any reasonable possible change in the key assumptions on which the estimate of recoverable amounts of the Bell Wireless or Bell Wireline groups of CGUs is based would not cause their carrying amounts to exceed their recoverable amounts.
For the Bell Media group of CGUs, a decrease of (1.1%) in the perpetuity growth rate or an increase of 0.8% in the discount rate would have resulted in its recoverable amount being equal to its carrying value.
Table:
 | ASSUMPTIONS USED | 
GROUPS OF CGUs | PERPETUITY GROWTH RATE | DISCOUNT RATE
Bell Wireless | 0.8% | 9.1%
Bell Wireline | 1.0% | 6.0%
Bell Media | 1.0% | 8.0%


Question: What is the difference in the discount rate between Bell Wireline and Bell Media?
Answer: 2
Calculation: 8.0%-6.0%
Results of Operations
Revenue
Revenue decreased in fiscal year 2019 compared to fiscal year 2018, but increased compared to fiscal year 2017, primarily as a result of the volatility of semiconductor capital investments by our customers. The overall Asia region continued to account for a majority of our revenues as a substantial amount of the worldwide capacity investments for semiconductor manufacturing continued to occur in this region.
Our deferred revenue balance was $449 million as of June 30, 2019, compared to $994 million as of June 24, 2018. The deferred revenue at the end of June 2019 is recognized under Accounting Standard Codification (“ASC”) 606, while the same values as of June 2018 are recognized under ASC 605, which contributes to the change in value period over period. Our deferred revenue balance does not include shipments to customers in Japan, to whom title does not transfer until customer acceptance. Shipments to customers in Japan are classified as inventory at cost until the time of customer acceptance. The anticipated future revenue value from shipments to customers in Japan was approximately $78 million as of June 30, 2019, compared to $607 million as of June 24, 2018.
Table:
 |  | YearEnded | 
 | June 30, 2019 | June 24, 2018 | June 25, 2017
Revenue (in millions) | $9,654 | $11,077 | $8,014
Korea | 23% | 35% | 31%
China | 22% | 16% | 13%
Japan | 20% | 17% | 13%
Taiwan | 17% | 13% | 26%
UnitedStates | 8% | 7% | 8%
SoutheastAsia | 6% | 7% | 5%
Europe | 4% | 5% | 4%


Question: What is the percentage of China revenue in the total revenue on June 24, 2018?
Answer: 16%
Property and equipment consist of the following (in thousands):
(1) Lesser of the lease term or the estimated useful lives of the improvements, which generally may be up to 5 years.
Depreciation and amortization expense for the years ended December 31, 2019, 2018 and 2017 was $2.2 million, $1.8 million and $1.9 million, respectively.
Table:
 |  | As of December 31, | 
 | Useful life in years | 2019 | 2018
Furniture and equipment | 5 | $1,785 | $1,189
Leasehold improvements (1) | 5 | 4,074 | 2,776
System hardware | 5 | 1,596 | 1,404
Office computers | 3 | 5,309 | 3,745
Computer and system software | 3 | 1,451 | 1,385
 |  | 14,215 | 10,499
Less accumulated depreciation and amortization |  | (7,931) | (5,849)
Property and equipment, net |  | $6,284 | $4,650


Question: What was the Depreciation and amortization expense for the years ended December 31, 2017?
Answer: $1.9 million
ADVANCED ENERGY INDUSTRIES, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (continued) (in thousands, except per share amounts)
The following table presents our unaudited pro forma results for the acquisitions of Artesyn and LumaSense:
The unaudited pro forma results for all periods presented include adjustments made to account for certain costs and transactions that would have been incurred had the acquisitions been completed at the beginning of the year prior to the year of acquisition. These include adjustments to amortization charges for acquired intangible assets, interest and financing expenses, transaction costs, amortization of purchased gross profit and the alignment of various accounting policies. These adjustments are net of any applicable tax impact and were included to arrive at the pro forma results above.
Artesyn’s operating results have been included in the Advanced Energy’s operating results for the periods subsequent to the completion of the acquisition on September 10, 2019. During the year ended December 31, 2019, Artesyn contributed total sales of $220.3 million and net income of $7.1 million, including interest and other expense associated with the financing of the transaction.
Table:
 |  |  | Year Ended December 31, | 
 | 2019 |  | 2018 | 
 | As Reported | Pro Forma | As Reported | Pro Forma
Total sales | $788,948 | $1,202,790 | $718,892 | $1,350,037
Net income attributable to Advanced Energy Industries, Inc. | $64,941 | $83,104 | $147,025 | $158,422
Earnings per share: |  |  |  | 
Basic earnings per share | $1.70 | $2.17 | $3.76 | $4.05
Diluted earnings per share | $ 1.69 | $ 2.16 | $ 3.74 | $ 4.03


Question: What was the total sales as reported in 2019?
Answer: $788,948