hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
table of contents other areas in which we do business . depending on the scope of such regulation , certain of our facilities and operations , or the operations of our suppliers , may be subject to additional operating and other permit requirements , potentially resulting in increased operating costs . future regulatory developments future regulatory developments and actions could affect operations and increase operating costs for the airline industry , including our airline subsidiaries . see part i , item 1a . risk factors 2013 201cif we are unable to obtain and maintain adequate facilities and infrastructure throughout our system and , at some airports , adequate slots , we may be unable to operate our existing flight schedule and to expand or change our route network in the future , which may have a material adverse impact on our operations , 201d 201cour business is subject to extensive government regulation , which may result in increases in our costs , disruptions to our operations , limits on our operating flexibility , reductions in the demand for air travel , and competitive disadvantages 201d and 201cwe are subject to many forms of environmental regulation and may incur substantial costs as a result 201d for additional information . employees and labor relations the airline business is labor intensive . in 2015 , salaries , wages and benefits were our largest expenses and represented approximately 31% ( 31 % ) of our operating expenses . the table below presents our approximate number of active full-time equivalent employees as of december 31 , 2015 . mainline operations wholly-owned regional carriers total .

Table:
 | mainline operations | wholly-owned regional carriers | total
pilots and flight crew training instructors | 13100 | 3200 | 16300
flight attendants | 24100 | 1900 | 26000
maintenance personnel | 14400 | 1800 | 16200
fleet service personnel | 16100 | 3200 | 19300
passenger service personnel | 16500 | 7100 | 23600
administrative and other | 14700 | 2400 | 17100
total | 98900 | 19600 | 118500
.

Question: what percentage of total active full-time equivalent employees consisted of passenger service personnel?
Answer: 20%
Calculation: divide(23600, 118500)
The line “Construction in progress” in the table above includes property, plant and equipment under construction and equipment under qualification before operating.
On January 1, 2019, the Company adopted the new guidance on lease accounting and lease right-of-use assets are included in plant, property and equipment. The impact of the adoption of this new guidance is further described in Note 11.
The depreciation charge was $785 million, $727 million and $592 million in 2019, 2018 and 2017, respectively.
As described in Note 7, the acquisition of Norstel resulted in the recognition of property, plant and equipment of $11 million.
Table:
December 31, 2019 | Gross Cost | Accumulated Depreciation | Net Cost
Land | 78 | — | 78
Buildings | 905 | (505) | 400
Facilities & leasehold improvements | 3,193 | (2,762) | 431
Machinery and equipment | 15,336 | (12,790) | 2,546
Computer and R&D equipment | 382 | (335) | 47
Operating lease right-of-use assets | 266 | (60) | 206
Other tangible assets | 110 | (93) | 17
Construction in progress | 282 | — | 282
Total | 20,552 | (16,545) | 4,007
December 31, 2018 | Gross Cost | Accumulated Depreciation | Net Cost
Land | 79 | — | 79
Buildings | 902 | (487) | 415
Facilities & leasehold improvements | 3,170 | (2,748) | 422
Machinery and equipment | 14,882 | (12,582) | 2,300
Computer and R&D equipment | 381 | (334) | 47
Other tangible assets | 123 | (93) | 30
Construction in progress | 202 | — | 202
Total | 19,739 | (16,244) | 3,495


Question: What is the average Net Cost?
Answer: 3751
Calculation: (4,007+3,495) / 2
Free Cash Flow
Free cash flow is a non-GAAP financial measure that reflects an additional way of viewing our liquidity that, when viewed with our GAAP results, provides a more complete understanding of factors and trends affecting our cash flows. Free cash flow is calculated by subtracting capital expenditures from net cash provided by operating activities. We believe it is a more conservative measure of cash flow since purchases of fixed assets are necessary for ongoing operations.
Free cash flow has limitations due to the fact that it does not represent the residual cash flow available for discretionary expenditures. For example, free cash flow does not incorporate payments made on finance lease obligations or cash payments for business acquisitions or wireless licenses. Therefore, we believe it is important to view free cash flow as a complement to our entire consolidated statements of cash flows.
The following table reconciles net cash provided by operating activities to Free cash flow:
The increase in free cash flow during 2019 is a reflection of the increase in operating cash flows, partially offset by the increase in capital expenditures discussed above.
Table:
 |  | (dollars in millions)
Years Ended December 31, | 2019 | 2018
Net cash provided by operating activities | $ 35,746 | $ 34,339
Less Capital expenditures (including capitalized software) | 17,939 | 16,658
Free cash flow | $ 17,807 | $ 17,681


Question: How is free cash flow calculated?
Answer: by subtracting capital expenditures from net cash provided by operating activities. We believe it is a more conservative measure of cash flow since purchases of fixed assets are necessary for ongoing operations.
Sales and Marketing
Sales and marketing expenses increased $3.1 million, or 1%, in 2019 as compared to 2018. As a percentage of revenue, sales and marketing expense decreased by approximately two percentage points, resulting from the 2018 Reallocation, increased cost efficiency, and leverage realized from changes to our sales commission plans as we continued our efforts to strategically scale our sales teams and improve their productivity.
Sales and marketing expenses decreased $15.6 million, or 7%, in 2018 as compared to 2017. As a percentage of revenue, sales and marketing expense decreased by approximately eight percentage points, primarily resulting from a combination of increased cost efficiency, reduction in headcount as part of our restructuring activities, and leverage realized from changes to our sales commission plans as we continued our efforts to strategically scale our sales teams and improve their productivity.
Table:
 |  | Year Ended December 31, | 
 | 2019 | 2018 | 2017
 |  | (dollars in thousands) | 
Sales and marketing | $227,733 | $224,635 | $240,271
Percent of revenue | 39.5% | 41.8% | 49.9%


Question: What was the change in percent of revenue between 2018 and 2019?
Answer: -2.3
Calculation: (39.5%-41.8%)
Selected Quarterly Financial Data (Unaudited)
Selected quarterly financial data is as follows (in millions, except per share amounts):
(1) In the quarter ended January 26, 2018, our provision for income taxes included significant charges attributable to United States tax reform.
(2) The quarters of fiscal 2018 have been adjusted for our retrospective adoption of the new accounting standard Revenue from Contracts with Customers (ASC 606).
Table:
 |  |  | Quarter Ended (2) | 
 | July 28, 2017 | October 27, 2017 | January 26, 2018 | April 27, 2018
Net revenues | $ 1,321 | $ 1,415 | $ 1,539 | $ 1,644
Gross profit | $ 824 | $ 900 | $ 956 | $ 1,029
Provision for income taxes (1) | $ 14 | $ 48 | $ 983 | $ 38
Net income (loss) | $ 131 | $ 174 | $(479 ) | $ 290
Net income (loss) per share, basic | $ 0.49 | $ 0.65 | $(1.79 ) | $ 1.09
Net income (loss) per share, diluted | $ 0.47 | $ 0.63 | $(1.79 ) | $ 1.06


Question: What did the provision for income taxes in the quarter ended January 26, 2018 include?
Answer: significant charges attributable to United States tax reform.
NOTE 14 – OTHER LIABILITIES
The carrying amount is a reasonable approximation of fair value due to the short-term nature of the receivables. Please refer to note 21 for further information on fair value hierarchies.
Table:
USDm | 2019 | 2018
Partners and commercial managements | 0.5 | 1.2
Accrued operating expenses | 14.1 | 9.1
Accrued interest | 4.0 | 4.6
Wages and social expenses | 14.3 | 16.1
Derivative financial instruments | 12.3 | 3.4
Payables to joint ventures | 0.1 | 0.1
Other | 2.0 | 2.0
Balance as of 31 December | 47.3 | 36.5


Question: In which year was the amount under Partners and commercial managements larger?
Answer: 2018
Calculation: 1.2>0.5
Accounts Receivable and Allowance for Doubtful Accounts
Accounts receivable consists primarily of amounts due to the Company from normal business activities. We maintain an allowance for doubtful accounts for estimated losses that result from the inability of our customers to make required payments.
The allowance for doubtful accounts is maintained based on customer payment levels, historical experience and management’s views on trends in the overall receivable agings. In addition, for larger accounts, we perform analyses of risks on a customer-specific basis. We perform ongoing credit evaluations of our customers’ financial condition and management believes that an adequate allowance for doubtful accounts has been provided.
Uncollectible accounts are removed from accounts receivable and are charged against the allowance for doubtful accounts when internal collection efforts have been unsuccessful. The following table summarizes the activity in allowance for doubtful accounts for the years ended December 31, 2019, 2018 and 2017:
Table:
 |  | Year Ended December 31, | 
(In thousands) | 2019 | 2018 | 2017
Balance at beginning of year | $4,421 | $6,667 | $2,813
Provision charged to expense | 9,347 | 8,793 | 7,072
Write-offs, less recoveries | (9,219) | (11,039) | (6,516)
Acquired allowance for doubtful accounts | — | — | 3,298
Balance at end of year | $4,549 | $4,421 | $6,667


Question: What was the increase / (decrease) in the balance at beginning of year from 2018 to 2019?
Answer: -2246
Calculation: 4,421 - 6,667
Executive Director Fixed Pay increases
The Committee has approved Fixed Pay increases of 4% for the CEO and 3% for the CFO, effective from 1 January 2020. This is in line with the average increase awarded to the wider Unilever workforce in 2019 of 3.6%. These increases were awarded to recognise the strong leadership of both individuals in 2019, which was Alan Jope’s first year in the CEO role and a year of transformation for Unilever generally. We also wanted to recognise Graeme Pitkethly’s seniority in his role, coming into his 5th year as CFO.
When our CEO Alan Jope was appointed on 1 January 2019 he was appointed with Fixed Pay 14% below that of what the Committee proposed for his predecessor and at the lower quartile of our remuneration benchmarking peer group, despite Unilever being one of the largest companies in this peer group. This positioning was intentional, given Alan’s internal promotion on appointment. However, subject to Alan’s continuing good performance the Committee will, over time, continue to review his Fixed Pay positioning and progress this towards the market median benchmark.
* MCIP at maximum (67%) investment of bonus.
Table:
 | Alan Jope CEO €'000 p.a. |  | Graeme Pitkethly CFO €'000 p.a. | 
 | 2019 | 2020 | 2019 | 2020
Fixed Pay | 1,450 | 1,508 | 1,103 | 1,136
Annual Bonus | 2,175 | 2,262 | 1,323 | 1,363
MCIP* Match share award | 2,186 | 2,273 | 1,330 | 1,370
Target Total Pay | 5,811 | 6,043 | 3,756 | 3,869
Personal MCIP* Investment in | 67% | 67% | 67% | 67%
Unilever shares | 1,457 | 1,516 | 886 | 913


Question: What was the Fixed Pay percentage when CEO Alan Jope joined?
Answer: 14%
Other (Income) Expenses
nm - not meaningful
Interest income. Interest income decreased $64,000 during fiscal 2018 as compared to fiscal 2017.
Interest expense. Interest expense consists of costs associated with capital leases and loans on corporate-owned life insurance policies.
Other (income) expense, net. Other (income) expense, net consists mainly of the impact of foreign currency due to movement of European and Asian currencies against the US dollar.
Table:
 | Year ended March 31, |  | (Unfavorable) favorable | 
(Dollars in thousands) | 2018 | 2017 | $ | %
Other (income) expenses |  |  |  | 
Interest (income) | $(98) | $(162) | $(64) | (39.5)%
Interest expense | 10 | 15 | 5 | 33.3%
Other (income) expense, net | (391) | 224 | 615 | nm
Total other (income) expense, net | $(479) | $77 | $556 | nm


Question: What is  Interest (income) expressed as a percentage of  Total other (income) expense, net?
Answer: 20.46
Calculation: -98/-479
ALTERNATIVE PERFORMANCE MEASURES – continued
Liquidity: TORM defines liquidity as available cash, comprising cash and cash equivalents, including restricted cash, as well as undrawn credit facilities.
TORM finds the APM important as the liquidity expresses TORM’s financial position, ability to meet current liabilities and cash buffer. Furthermore, it expresses TORM’s ability to act and invest when possibilities occur.
Table:
USDm | 2019 | 2018 | 2017
Cash and cash equivalents, including restricted cash | 72.5 | 127.4 | 134.2
Undrawn credit facilities | 173.1 | 278.7 | 270.7
Liquidity | 245.6 | 406.1 | 404.9


Question: What was the change in liquidity in 2019 from 2018?
Answer: -160.5
Calculation: 245.6-406.1
A. Operating Results
YEAR ENDED DECEMBER 31, 2019 COMPARED TO YEAR ENDED DECEMBER 31, 2018
Management believes that net voyage revenue, a non-GAAP financial measure, provides additional meaningful information because it enables us to compare the profitability of our vessels which are employed under bareboat charters, spot related time charters and spot charters. Net voyage revenues divided by the number of days on the charter provides the Time Charter Equivalent (TCE) Rate. Net voyage revenues and TCE rates are widely used by investors and analysts in the tanker shipping industry for comparing the financial performance of companies and for preparing industry averages. We believe that our method of calculating net voyage revenue is consistent with industry standards. The table below reconciles our net voyage revenues to voyage revenues.
Table:
 |  | Years Ended December 31,     | 
All figures in USD ‘000  | 2019 | 2018 | Variance 
Voyage Revenue   | 317,220 | 289,016 | 9.8%
Voyage Expenses   | (141,770) | (165,012) | (14.1%)
Vessel Operating Expenses   | (66,033) | (80,411) | (17.9%)
Impairment Loss on Vessels   | - | (2,168) | N/A 
Impairment Loss on Goodwill   | - | - | N/A 
Loss from Disposal of Vessels   | - | (6,619) | N/A 
General and Administrative Expenses   | (13,481) | (12,727) | 5.9%
Depreciation Expenses   | (63,965) | (60,695) | 5.4%
Net Operating (Loss) Income   | 31,971 | (38,616) | (182.8%)
Interest Income   | 298 | 334 | (10.8%)
Interest Expenses   | (38,390) | (34,549) | 11.1%
Other Financial Expenses   | (4,231) | (14,808) | (71.4%)
Equity Loss from Associate   | - | (7,667) | N/A 
Net (Loss) Income   | (10,352) | (95,306) | (89.1%)


Question: What are the respective voyage expenses in 2018 and 2019?
Answer: 165,012, 141,770
AMERICAN TOWER CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Tabular amounts in millions, unless otherwise disclosed)
At December 31, 2019 and 2018, the Company has provided a valuation allowance of $194.2 million and $151.9 million, respectively, which primarily relates to foreign items. The increase in the valuation allowance for the year ending December 31, 2019 is due to uncertainty as to the timing of, and the Company’s ability to recover, net deferred tax assets in certain foreign operations in the foreseeable future, offset by fluctuations in foreign currency exchange rates. The amount of deferred tax assets considered realizable, however, could be adjusted if objective evidence in the form of cumulative losses is no longer present and additional weight may be given to subjective evidence such as the Company’s projections for growth.
A summary of the activity in the valuation allowance is as follows:
(1) Includes net charges to expense and allowances established due to acquisition.
The recoverability of the Company’s deferred tax assets has been assessed utilizing projections based on its current operations. Accordingly, the recoverability of the deferred tax assets is not dependent on material asset sales or other non-routine transactions. Based on its current outlook of future taxable income during the carryforward period, the Company believes that deferred tax assets, other than those for which a valuation allowance has been recorded, will be realized.
Table:
 | 2019 | 2018 | 2017
Balance as of January 1, | $151.9 | $142.0 | $144.4
Additions (1) | 42.5 | 15.7 | 11.6
Reversals | — | — | (9.1)
Foreign currency translation | (0.2) | (5.8) | (4.9)
Balance as of December 31, | $194.2 | $151.9 | $142.0


Question: In which years did the company provide a valuation allowance?
Answer: 2019, 2018
Accounts Receivable
Accounts receivable are uncollateralized customer obligations due under normal trade terms. The Company records allowances for doubtful accounts based on customer-specific analysis and general matters such as current assessment of past due balances and economic conditions. The Company writes off accounts receivable when they become uncollectible. The allowance for doubtful accounts was $55,039 and $65,542 at December 31, 2019 and 2018, respectively. Management identifies a delinquent customer based upon the delinquent payment status of an outstanding invoice, generally greater than 30 days past due date. The delinquent account designation does not trigger an accounting transaction until such time the account is deemed uncollectible. The allowance for doubtful accounts is determined by examining the reserve history and any outstanding invoices that are over 30 days past due as of the end of the reporting period. Accounts are deemed uncollectible on a case-by-case basis, at management’s discretion based upon an examination of the communication with the delinquent customer and payment history. Typically, accounts are only escalated to “uncollectible” status after multiple attempts at collection have proven unsuccessful.
The allowance for doubtful accounts for the years ended December 31 are as follows:
Table:
 | 2019 | 2018
Beginning balance | $65,542 | $22,173
Provision charged to expense | 29,849 | 55,152
Deductions | (40,352) | (11,783)
Ending balance | 55,039 | $65,542


Question: When are accounts escalated to "uncollectible" status?
Answer: after multiple attempts at collection have proven unsuccessful
We continue to experience challenging trends in both the high-end smartphone market and in the broadband market. However, with leading mobile and fixed networks, improving customer experience, three strong brands and further enhancements to BT Plus, with 5G coming imminently, we are well placed for the future.
Adjusteda revenue growth of 3% for the year was driven by the continued increase in handset costs for customers, growth in the SIMonly base across all brands and the impact of price increases, partially offset by solus voice price reductions.
Adjusteda EBITDA grew 7% for the year as the revenue growth was partially offset by increased trading costs.
Capital expenditure growth of 8% was driven by increased network spend as preparations were made for the EE 5G launch in 2019. Normalised free cash flowb was £1,323m, down 5% on last year as the increase in EBITDA was offset by the settlement at the start of the year of the Phones4U dispute relating to the retail trading agreement, and increased capital expenditure.
Mobile churnc was stable at 1.2% for the year, whilst fixed churnc was up from 1.3% to 1.4% reflecting the impact of price increases in the year.
a Adjusted measures exclude specific items, as explained in the Additional Information on page 185. b Free cash flow after net interest paid, before pension deficit payments (including the cash tax benefit of pension deficit payments) and specific items.
Table:
Consumer |  |  |  | 
Adjusteda revenue £10,695m |  | Adjusteda operating profit £1,510m |  | 
 | 2019 (IFRS 15) | 2018 (IAS 18) | Change | 
Year to 31 March | £m | £m | £m | %
Adjusteda revenue | 10,695 | 10,360 | 335 | 3
Adjusteda operating costs | 8,161 | 7,984 | 177 | 2
Adjusteda EBITDA | 2,534 | 2,376 | 158 | 7
Depreciation & amortisation | 1,024 | 992 | 32 | 3
Adjusted a operating profit | 1,510 | 1,384 | 126 | 9
Capital expenditure | 994 | 919 | 75 | 8
Normalised free cash flowb | 1,323 | 1,389 | (66) | (5


Question: What is the average Adjusteda operating costs for 2018 and 2019?
Answer: 8072.5
Calculation: (8,161 + 7,984) / 2
NOTE 22. INCOME TAXES
Amounts recognized in profit or loss
The income tax expense consists of:
Table:
 | Year ended December 31, | 
 | 2018 | 2019
Current: |  | 
The Netherlands | (4,128) | (28,409)
Other countries | (6,374) | (9,011)
 | (10,502) | (37,420)
Deferred: |  | 
The Netherlands | 1,944 | (6,860)
Other countries | (6,878) | (9,370)
Income tax expense | (15,436) | (53,650)


Question: What is the percentage change in total Income tax expense from 2018 to 2019?
Answer: 247.56
Calculation: (-53,650-(-15,436))/-15,436
Adjusted EBITDA Non-GAAP Reconciliation
(UNAUDITED)
($ in millions)
(1) Refer to Non-GAAP Integration and Transformation Costs and Special Items table for details of the integration and transformation costs and special items included above.
Table:
 |  |  | Pro Forma (1)
 | 2019 | 2018 | 2017
Net income (loss) | $(5,269) | (1,733) | 1,508
Income tax expense | 503 | 170 | (770)
Total other expense, net | 2,040 | 2,133 | 2,147
Depreciation and amortization expense | 4,829 | 5,120 | 5,125
Share-based compensation expenses | 162 | 186 | 238
Goodwill impairment | 6,506 | 2,726 | 0
Adjusted EBITDA | 8,771 | 8,602 | 8,248
Exclude: transaction related expenses | 0 | 0 | 192
Exclude: integration and transformation costs(1) | 234 | 378 | 164
Exclude: special items(1) | 65 | 60 | 82
Adjusted EBITDA excluding integration and transformation costs and special items | $9,070 | 9,040 | 8,686
Total revenue | $22,401 | 23,443 | 24,128
Adjusted EBITDA Margin | 39.2% | 36.7% | 34.2%
Adjusted EBITDA Margin, excluding integration and transformation costs and special items | 40.5% | 38.6% | 36.0%


Question: Which items are excluded from the Adjusted EBITDA?
Answer: transaction related expenses, integration and transformation costs, special items
CASH FLOW STATEMENT1
1 Abridged version. The complete version is shown in the consolidated financial statements.
Table:
€ million | 2017/18 | 2018/19
Cash flow from operating activities of continuing operations | 766 | 796
Cash flow from operating activities of discontinued operations | 139 | 157
Cash flow from operating activities | 905 | 953
Cash flow from investing activities of continuing operations | −292 | 46
Cash flow from investing activities of discontinued operations | −89 | −136
Cash flow from investing activities | −381 | −90
Cash flow before financing activities of continuing operations | 474 | 842
Cash flow before financing activities of discontinued operations | 50 | 21
Cash flow before financing activities | 524 | 863
Cash flow from financing activities of continuing operations | −587 | −1,122
Cash flow from financing activities of discontinued operations | −74 | −109
Cash flow from financing activities | −661 | −1,231
Total cash flows | −137 | −368
Currency effects on cash and cash equivalents | −30 | 17
Total change in cash and cash equivalents | −167 | −351


Question: What is the Cash flow from operating activities in FY2019?
Answer: 953
3. Property, Plant and Equipment
Property, plant and equipment as of September 28, 2019 and September 29, 2018 consisted of the following (in thousands):
Table:
 | 2019 | 2018
Land, buildings and improvements | $289,051 | $267,809
Machinery and equipment | 381,656 | 364,034
Computer hardware and software | 136,227 | 130,645
Capital assets in progress | 49,599 | 38,469
Total property, plant and equipment, gross  | 856,533 | 800,957
Less: accumulated depreciation  | (472,309) | (459,651)
Total property, plant and equipment, net | 384,224 | 341,306


Question: What was the percentage change in the Capital assets in progress between 2018 and 2019?
Answer: 28.93
Calculation: (49,599-38,469)/38,469