hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
16. INCOME TAXES
The provision for (benefit from) income taxes on income from continuing operations before income taxes consists of the following (in thousands):
Table:
 | 2019 | 2018 | 2017
Currently payable: |  |  | 
Federal | $1,995 | $1,163 | $5,617
State | 557 | 114 | 1,022
Foreign | 13,448 | 107,487 | 116,022
 | 16,000 | 108,764 | 122,661
Deferred and other: |  |  | 
Federal | (407) | 26,334 | 1,413
State | 516 | (489) | (153)
Foreign | (9,886) | (20,414) | (30,510)
 | (9,777) | 5,431 | (29,250)
Provision for income taxes | $6,223 | $114,195 | $93,411


Question: What was the percentage change in state income taxes that is currently payable in 2019 from 2018?
Answer: 388.6
Calculation: (557-114)/114
4. Property and Equipment
Property and equipment consist of the following (in thousands):
Depreciation and amortization expense was $0.9 million and $1.0 million for the years ended December 31, 2019 and 2018, respectively.
Table:
As of December 31, |  | 
 | 2019 | 2018
Computers, software, furniture and fixtures | $1,406 | $1,407
Equipment under capital lease  3,348 | 3,348 | 3,525
Less accumulated depreciation and amortization | (3,171) | (2,448)
Property and equipment, net | $1,583 | $2,484


Question: What is the percentage change in computers, software, furniture and fixtures between 2018 and 2019?
Answer: -0.07
Calculation: ($1,406-$1,407)/$1,407
Unrecognized deferred tax assets
Deferred tax assets have not been recognized in respect of the following items, given the volatile nature of the semi-conductor equipment industry. Therefore it is not probable that future taxable profit will be available to offset deductible temporary differences.
1 These credits regards R&D credits generated in the US, in the state of Arizona. However, ASMI does not recognize these credits stemming from prior years due to the fact that utilization of prior year credits is only possibly if and when the credits generated in the current year are fully utilized. Given the level of R&D activity in the US, the company does not expect it could fully utilize the credits generated in the current year and, hence, does not expect to benefit from the available credits generated in prior years.
Table:
 | 2019 | 
 | Gross amount | Tax effect
Deductible temporary differences | 20,642 | 4,842
Credits 1) | 15,221 | 15,221
Unrecognized deferred tax assets | 35,863 | 20,063


Question: What is the gross amount of  Deductible temporary differences ?
Answer: 20,642
Operating Results – Teekay Tankers
The following table compares Teekay Tankers’ operating results, equity income and number of calendar-ship-days for its vessels for 2019 and 2018.
(1) Calendar-ship-days presented relate to owned and in-chartered consolidated vessels.
Teekay Tankers' income from vessel operations increased to $123.9 million in 2019 compared to $7.2 million in 2018, primarily as a result of: • an increase of $129.3 million due to higher overall average realized spot tanker rates earned by Teekay Tankers' Suezmax, Aframax and LR2 product tankers; • an increase of $3.5 million due to improved net results from Teekay Tankers' full service lightering (or FSL) activities from more voyage days and higher realized spot rates earned;
• an increase of $3.4 million resulting from lower general and administrative expenses primarily due to non-recurring project expenses incurred in 2018; • a net increase of $2.3 million primarily due to the delivery of three Aframax and two LR2 chartered-in tankers in late 2018 and throughout 2019, partially offset by the redeliveries of various in-chartered tankers to their owners in the second and third quarters of 2018; and • an increase of $1.2 million as a result of restructuring charge incurred in the prior year;
partially offset by
• a decrease of $10.2 million due to a higher number of off-hire days in 2019 resulting from dry dockings and higher off-hire bunker expenses compared to the prior year; • a decrease of $6.9 million due to lower revenues and loss on the sale of one Suezmax tanker in 2019 and the write-down of two Suezmax tankers that were classified as held for sale at December 31, 2019; and • a decrease of $6.4 million due to the amortization of first dry dockings for various former Tanker Investments Ltd. (or TIL) vessels subsequent to Teekay Tankers' acquisition of TIL in late 2017.
Equity income increased to $2.3 million in 2019 from $1.2 million in 2018 primarily due to higher earnings recognized in 2019 from the High-Q Investment Ltd. joint venture as a result of higher spot rates earned in 2019.
Table:
 | Year Ended December 31, | 
(in thousands of U.S. dollars, except calendar-ship-days) | 2019 | 2018
Revenues | 943,917 | 776,493
Voyage expenses | (402,294) | (381,306)
Vessel operating expenses | (208,601) | (209,131)
Time-charter hire expense | (43,189) | (19,538)
Depreciation and amortization | (124,002) | (118,514)
General and administrative expenses | (36,404) | (39,775)
Write-down and loss on sale of vessels | (5,544) | 170
Restructuring charges | — | (1,195)
Income from vessel operations | 123,883 | 7,204
Equity income | 2,345 | 1,220
Calendar-Ship-Days (1) |  | 
Conventional Tankers | 22,350 | 21,226


Question: What is the increase/ (decrease) in Voyage expenses from, 2019 to 2018?
Answer: 20988
Calculation: 402,294-381,306
A.3.10 Reconciliation to Consolidated Financial Statements
The negative swing in Corporate items was mainly due to large positive effects in fiscal 2018 – the gain of € 900 million resulting from the transfer of Siemens’ shares in Atos SE to Siemens Pension- Trust e. V. and the gain of € 655 million from the sale of OSRAM Licht AG shares. These effects substantially outweighed a positive result in fiscal 2019 from the measurement of a major asset retirement obligation, which was previously reported in Centrally managed portfolio activities. Severance charges within Corporate items were € 99 million (€ 159 million in fiscal 2018).
Table:
 |  | Fiscal year
(in millions of €) | 2019 | 2018
Real Estate Services | 145 | 140
Corporate items | (562) | 631
Centrally carried pension expense | (264) | (423)
Amortization of intangible assets acquired in business combinations | (1,133) | (1,164)
Eliminations, Corporate Treasury and other reconciling items | (215) | (318)
Reconciliation to Consolidated financial Statements | (2,028) | (1,135)


Question: What is the increase / (decrease) percentage of Centrally carried pension expense from 2018 to 2019?
Answer: -37.59
Calculation: (264 / 423 - 1)
30. Financial instruments and financial risk management continued
b) Credit risk continued
The composition of trade receivables at 31 December is as follows:
The Group closely monitors amounts due from customers and performs activities such as credit checks and reviews of payment history and has put in place appropriate credit approval limits. Based on these procedures, management assessed the quality of those receivables that are past due but not impaired as low risk.
The receivables’ provision is based on expected credit losses. The movement on the provision during the year is given in note 20. The value of impaired trade receivables is $1.4 million (2018 $0.9 million). For all other financial assets, the maximum exposure to credit risk is represented by the carrying amount.
Table:
 | 2019 | 2018
 | $ million | $ million
Neither impaired nor past due | 115.3 | 99.8
Past due but not impaired: |  | 
– Less than 30 days overdue | 8.6 | 16.8
– 30 to 60 days | 3.6 | 3.2
– Over 60 days | 1.2 | 3.6
Trade receivables | 128.7 | 123.4


Question: What is the receivables' provision based on?
Answer: expected credit losses
Contract assets and deferred revenue
(1) Included in other current assets. (2) Included in other long-term assets. (3) Included in other long-term liabilities.
Contract assets are client committed amounts for which revenue recognized exceeds the amount billed to the client and the right to payment is subject to conditions other than the passage of time, such as the completion of a related performance obligation. Deferred revenue consists of billings and payments received in advance of revenue recognition. Contract assets and deferred revenue are netted at the contract level for each reporting period.
The change in deferred revenue in the year ended December 31, 2019 was primarily due to new billings in advance of revenue recognition, partially offset by revenue recognized during the period that was included in deferred revenue at December 31, 2018.
Table:
(in thousands) | December 31, 2019 | December 31, 2018
Contract assets (1) | $5,558 | $3,711
Long-term contract assets (2) | 5,420 | 2,543
 | $10,978 | $6,254
Deferred revenue | $190,080 | $185,145
Long-term deferred revenue (3) | 5,407 | 5,344
 | $195,487 | $190,489


Question: What are contract assets and long-term contract assets respectively classified under?
Answer: other current assets, other long-term assets
synopsys , inc . notes to consolidated financial statements 2014continued the company has the following tax loss and credit carryforwards available to offset future income tax liabilities : carryforward amount expiration ( in thousands ) .

Table:
carryforward | amount ( in thousands ) | expirationdate
federal net operating loss carryforward | $ 57265 | 2018-2034
federal research credit carryforward | 78599 | 2019-2036
federal foreign tax credit carryforward | 2081 | 2019-2022
international foreign tax credit carryforward | 13351 | indefinite
california research credit carryforward | 169038 | indefinite
other state research credit carryforward | 7482 | 2023-2032
state net operating loss carryforward | 33201 | 2024-2035
the federal and state net operating loss carryforward is from acquired companies and the annual use of such loss is subject to significant limitations under internal revenue code section 382 .
foreign tax credits may only be used to offset tax attributable to foreign source income .
the federal research tax credit was permanently reinstated in fiscal 2016 .
the company adopted asu 2016-09 in the first quarter of fiscal 2017 .
the company recorded all income tax effects of share-based awards in its provision for income taxes in the condensed consolidated statement of operations on a prospective basis .
prior to adoption , the company did not recognize excess tax benefits from stock-based compensation as a charge to capital in excess of par value to the extent that the related tax deduction did not reduce income taxes payable .
upon adoption of asu 2016-09 , the company recorded a deferred tax asset of $ 106.5 million mainly related to the research tax credit carryover , for the previously unrecognized excess tax benefits with an offsetting adjustment to retained earnings .
adoption of the new standard resulted in net excess tax benefits in the provision for income taxes of $ 38.1 million for fiscal 2017 .
during the fourth quarter of fiscal 2017 , the company repatriated $ 825 million from its foreign subsidiary .
the repatriation was executed in anticipation of potential u.s .
corporate tax reform , and the company plans to indefinitely reinvest the remainder of its undistributed foreign earnings outside the united states .
the company provides for u.s .
income and foreign withholding taxes on foreign earnings , except for foreign earnings that are considered indefinitely reinvested outside the u.s .
as of october 31 , 2017 , there were approximately $ 598.3 million of earnings upon which u.s .
income taxes of approximately $ 110.0 million have not been provided for. .

Question: what is the variation between the federal research credit carryforward and federal net operating loss carryforward , in thousands?
Answer: 21334
Calculation: subtract(78599, 57265)
(C.5) Income Taxes
Judgments and Estimates
We are subject to changing tax laws in multiple jurisdictions within the countries in which we operate. Our ordinary business activities also include transactions where the ultimate tax outcome is uncertain due to different interpretations of tax laws, such as those involving revenue sharing and cost reimbursement arrangements between SAP Group entities. In addition, the amount of income taxes we pay is generally subject to ongoing audits by domestic and foreign tax authorities. In determining our worldwide income tax provisions, judgment is involved in assessing whether to consider each uncertain tax treatment separately or together with one or more other uncertain tax treatments and whether to reflect the respective effect of uncertainty based on the most likely amount or the expected value. In applying these judgments, we consider the nature and the individual facts and circumstances of each uncertain tax treatment as well as the specifics of the respective jurisdiction, including applicable tax laws and our interpretation thereof.
The assessment whether a deferred tax asset is impaired requires judgment, as we need to estimate future taxable profits to determine whether the utilization of the deferred tax asset is probable. In evaluating our ability to utilize our deferred tax assets, we consider all available positive and negative evidence, including the level of historical taxable income and projections for future taxable income over the periods in which the deferred tax assets are recoverable. Our judgment regarding future taxable income is based on assumptions about future market conditions and future profits of SAP.
Judgment is also required in evaluating whether interest or penalties related to income taxes meet the definition of income taxes, and, if not, whether it is of financial nature. In this judgment, we particularly consider applicable local tax laws and interpretations on IFRS by national standard setters in the area of group financial reporting.
Tax Expense by Geographic Location
Table:
€ millions | 2019 | 2018 | 2017
Current tax expense |  |  | 
Germany | 625 | 733 | 935
Foreign | 1,153 | 1,019 | 716
Total current tax expense | 1,778 | 1,752 | 1,651
Deferred tax expense/income |  |  | 
Germany | –3 | 57 | –584
Foreign | –549 | –298 | –84
Total deferred tax income | –552 | –241 | –668
Total income tax expense | 1,226 | 1,511 | 983


Question: What does the table represent?
Answer: Tax Expense by Geographic Location
AMERICAN TOWER CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Tabular amounts in millions, unless otherwise disclosed)
13. INCOME TAXES
Beginning in the taxable year ended December 31, 2012, the Company has filed, and intends to continue to file, U.S. federal income tax returns as a REIT, and its domestic TRSs filed, and intend to continue to file, separate tax returns as required. The Company also files tax returns in various states and countries. The Company’s state tax returns reflect different combinations of the Company’s subsidiaries and are dependent on the connection each subsidiary has with a particular state and form of organization. The following information pertains to the Company’s income taxes on a consolidated basis.
The income tax provision from continuing operations consisted of the following:
The effective tax rate (“ETR”) on income from continuing operations for the years ended December 31, 2019, 2018 and 2017 differs from the federal statutory rate primarily due to the Company’s qualification for taxation as a REIT, as well as adjustments for state and foreign items. As a REIT, the Company may deduct earnings distributed to stockholders against the income generated by its REIT operations. In addition, the Company is able to offset certain income by utilizing its NOLs, subject to specified limitations.
Table:
 | 2019 | 2018 | 2017
Current: |  |  | 
Federal | $(1.7) | $(1.4) | $(0.1)
State | (5.0) | (1.8) | (3.8)
Foreign | (48.2) | (189.7) | (113.4)
Deferred: |  |  | 
Federal | 1.4 | 4.0 | 0.2
State | 0.5 | 0.7 | 1.0
Foreign | 53.2 | 298.3 | 85.4
Income tax benefit (provision) | $0.2 | $110.1 | $(30.7)


Question: How many of the deferred Income tax benefit (provision) were above $50 million in 2017?
Answer: 1
Calculation: Foreign
3. CASH, CASH EQUIVALENTS AND MARKETABLE SECURITIES
Cash and cash equivalents primarily consist of deposits held at major banks, Tier-1 commercial paper debt securities and other securities with original maturities of 90 days or less. Marketable securities consist of Tier-1 commercial paper debt securities, corporate debt securities and certain other securities.
The amortized principal amounts of our cash, cash equivalents and marketable securities approximated their fair values at May 31, 2019 and 2018. We use the specific identification method to determine any realized gains or losses from the sale of our marketable securities classified as available-for-sale. Such realized gains and losses were insignificant for fiscal 2019, 2018 and 2017. The following table summarizes the components of our cash equivalents and marketable securities held, substantially all of which were classified as available-for-sale:
As of May 31, 2019 and 2018, approximately 33% and 26%, respectively, of our marketable securities investments mature within one year and 67% and 74%, respectively, mature within one to four years. Our investment portfolio is subject to market risk due to changes in interest rates. As described above, we limit purchases of marketable debt securities to investment-grade securities, which have high credit ratings and also limit the amount of credit exposure to any one issuer. As stated in our investment policy, we are averse to principal loss and seek to preserve our invested funds by limiting default risk and market risk.
Restricted cash that was included within cash and cash equivalents as presented within our consolidated balance sheets as of May 31, 2019 and 2018 and our consolidated statements of cash flows for the years ended May 31, 2019, 2018 and 2017 was nominal.
Table:
 | May 31, | 
(in millions) | 2019 | 2018
Corporate debt securities and other | $22,242 | $44,302
Commercial paper debt securities | — | 1,647
Money market funds | 5,700 | 6,500
Total investments | $27,942 | $52,449
Investments classified as cash equivalents | $10,629 | $6,808
Investments classified as marketable securities | $17,313 | $45,641


Question: What was the percentage change in the money market funds from 2018 to 2019?
Answer: -0.12
Calculation: (5,700-6,500)/6,500
18.1 Fair Values
The fair values of the currency and interest rate swap contracts exclude accrued interest of S$16.3 million (31 March 2018: S$16.8 million). The accrued interest is separately disclosed in Note 16 and Note 27.
The fair values of the derivative financial instruments were as follows –
Table:
 | Group |  | Company | 
 | Fair values |  | Fair values | 
 | Assets | Liabilities | Assets | Liabilities
2019 | S$ Mil | S$ Mil | S$ Mil | S$ Mil
Fair value and cash flow hedges |  |  |  | 
Cross currency swaps | 414.6 | 95.5 | 1.0 | 60.2
Interest rate swaps | 11.1 | 59.8 | - | 8.9
Forward foreign exchange contracts | 12.9 | 1.5 | 3.3 | 1.0
Derivatives that do not qualify for hedge accounting |  |  |  | 
Cross currency swaps | - | - | 104.7 | 104.7
Interest rate swaps | - | 1.9 | 17.5 | 17.5
Forward foreign exchange contracts | 0.1 | - | 0.1 | -
 | 438.7 | 158.7 | 126.6 | 192.3
Disclosed as – |  |  |  | 
Current | 155.1 | 9.2 | 0.7 | 0.5
Non-current | 283.6 | 149.5 | 125.9 | 191.8
 | 438.7 | 158.7 | 126.6 | 192.3


Question: Where to find the disclosed information on accrued interest?
Answer: Note 16 and Note 27
A.4.2 Income
As a result of the development described for the segments, Income from continuing operations before income taxes declined 7 %. Severance charges for continuing operations were € 619 million, of which € 492 million were in Industrial Businesses. Accordingly, Adjusted EBITA margin Industrial Businesses excluding severance charges was 11.5 % in fiscal 2019. In fiscal 2018, severance charges for continuing operations were € 923 million, of which € 669 million were in Industrial Businesses.
The tax rate of 25% for fiscal 2019 was below the tax rate of 26% for the prior year, benefiting mainly from the reversal of income tax provisions outside Germany. As a result, Income from continuing operations declined 6%.
Income from discontinued operations, net of income taxes in the prior year included positive effects from the release of a provision related to former Communications activities.
The decline in basic earnings per share reflects the decrease of Net income attributable to Shareholders of Siemens AG, which was € 5,174 million in fiscal 2019 compared to € 5,807 million in fiscal 2018, partially offset by a lower number of weighted average shares outstanding. Basic earnings per share excluding severance charges was € 6.93.
As expected, ROCE at 11.1 % was below the target range set in our Siemens Financial Framework, reflecting in particular the effects from portfolio transactions in recent years, including the acquisitions of Mentor and Mendix at Digital Industries and the merger of Siemens’ wind power business with Gamesa Corporación Tecnológica, S. A. that created SGRE. The decline year-over-year was due both to lower income before interest after tax and to higher average capital employed.
Table:
 |  | Fiscal year | 
(in millions of €, earnings per share in €) | 2019 | 2018 | % Change
Digital Industries | 2,880 | 2,898 | (1) %
Smart Infrastructure | 1,500 | 1,574 | (5) %
Gas and Power | 679 | 722 | (6) %
Mobility | 983 | 958 | 3 %
Siemens Healthineers | 2,461 | 2,221 | 11 %
Siemens Gamesa Renewable Energy | 482 | 483 | 0 %
Industrial Businesses | 8,986 | 8,857 | 1 %
Adjusted EBITA margin Industrial Businesses | 10.9 % | 11.1 % | 
Financial Services | 632 | 633 | 0 %
Portfolio Companies | (71) | (305) | 77 %
Reconciliation to Consolidated Financial Statements | (2,028) | (1,135) | (79) %
Income from continuing operations before income taxes | 7,518 | 8,050 | (7) %
Income tax expenses | (1,872) | (2,054) | 9 %
Income from continuing operations | 5,646 | 5,996 | (6) %
Income from discontinued operations, net of income taxes | 3 | 124 | (98) %
Net income | 5,648 | 6,120 | (8) %
Basic earnings per share | 6.41 | 7.12 | (10) %
ROCE | 11.1 % | 12.6 % | 


Question: What do the decline in basic earnings per share represent?
Answer: The decline in basic earnings per share reflects the decrease of Net income attributable to Shareholders of Siemens AG, which was € 5,174 million in fiscal 2019 compared to € 5,807 million in fiscal 2018, partially offset by a lower number of weighted average shares outstanding. Basic earnings per share excluding severance charges was € 6.93.
11. INTEREST EXPENSES
Interest expenses consist of interest expense on the long-term debt, the commitment fee and amortization of deferred financing costs related to the Credit Facility described in Note 9.
For the years ended December 31, 2019, 2018 and 2017, $0.0 million, $2.6 million and $2.5 million of interest expenses were capitalized, respectively.
Table:
All amounts in USD ‘000  | 2019 | 2018 | 2017
Interest Expenses, net of capitalized interest   | 34,018 | 29,753 | 18,286
Commitment Fee   | - | 3,325 | 760
Amortization of Deferred Financing Costs   | 4,372 | 1,470 | 1,393
Other financial costs   | - | 1 | 25
Total Interest Expenses   | 38,390 | 34,549 | 20,464


Question: What are the respective interest expenses capitalised in the years ended December 31, 2018 and 2017?
Answer: $2.6 million, $2.5 million