hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
Note 4. Accounts Receivable, Net
The components of accounts receivable, net are as follows (in thousands):
For the years ended December 31, 2019, 2018 and 2017, we recorded a provision for doubtful accounts of $1.2 million, $0.1 million and $0.5 million, respectively.
For the year ended December 31, 2019, we recorded a reduction to the reserve for product returns of $0.1 million. For the years ended December 31, 2018 and 2017, we recorded a $0.3 million and $2.1 million reserve for product returns in our hardware and other revenue, respectively. Historically, we have not experienced write-offs for uncollectible accounts or sales returns that have differed significantly from our estimates.
Table:
December 31, |  | 
 | 2019 | 2018
Accounts receivable | $80,032 | $52,850
Allowance for doubtful accounts | (2,584) | (1,425)
Allowance for product returns | (1,075) | (1,915)
Accounts receivable, net | $76,373 | $49,510


Question: What was the reduction to the reserve for product returns in 2019?
Answer: $0.1 million
Share Options
The fair value of equity-settled share options granted is measured as at the date of grant using a Black-Scholes model, taking into account the terms and conditions upon which the options were granted.
The following table illustrates the weighted average inputs into the Black-Scholes model in the year:
The weighted average fair value of options granted during the year was $ cents 220.53 (2018: $ cents 185.33).
The expected volatility reflects the assumption that the historical share price volatility is indicative of future trends, which may not necessarily be the actual outcome. An increase in the expected volatility will increase the estimated fair value.
The expected life of the options is based on historical data and is not necessarily indicative of exercise patterns that may occur. The expected life used in the model has been adjusted, based on the Director’s best estimate, taking into account the effects of exercise restrictions, non-transferability and behavioural considerations. An increase in the expected life will increase the estimated fair value.
Table:
 | Year-ended | Year-ended
 | 31 March 2019 | 31 March 2018
Weighted average share price ($ cents) | 676.10 | 628.23
Weighted average exercise price ($ cents) | 558.54 | 516.70
Expected volatility | 54.91% | 38.20%
Expected life of options (years) | 1.69 | 2.08
Risk free rate | 1.56% | 1.49%
Dividend yield | 0.81% | 0.70%


Question: What is the expected life of the options based on?
Answer: historical data and is not necessarily indicative of exercise patterns that may occur. The expected life used in the model has been adjusted, based on the Director’s best estimate, taking into account the effects of exercise restrictions, non-transferability and behavioural considerations. An increase in the expected life will increase the estimated fair value.
Applying the German group tax rate to the reported pre-tax result would result in an income tax expense of €216 million (2017/18: €176 million). The deviation of €81 million (2017/18: €40 million) from the reported tax expense of €298 million (2017/18: €216 million) can be reconciled as follows:
1 Adjustment of previous year according to explanation in notes.
The item ‘effects of differing national tax rates’ includes a deferred tax revenue of €6 million (2017/18: €23 million) from tax rate changes.
Tax expenses and income relating to other periods of the previous year include a repayment of approximately €20 million because of a retrospective change in foreign law in 2018.
Tax holidays for the current year include effects from real estate transactions in the amount of €30 million (2017/18: €2 million).
Table:
€ million | 2017/2018 | 2018/2019
EBT (earnings before taxes) | 576 | 709
Expected income tax expenses (30.53%) | 176 | 216
Effects of differing national tax rates | −58 | −62
Tax expenses and income relating to other periods | −21 | −6
Non-deductible business expenses for tax purposes | 41 | 51
Effects of not recognised or impaired deferred taxes | 79 | 114
Additions and reductions for local taxes | 11 | 13
Tax holidays | −14 | −39
Other deviations | 3 | 5
Income tax expenses according to the income statement | 216 | 298
Group tax rate | 37.6% | 42.0%


Question: What was the percentage change in EBT in 2018/2019 from 2017/2018?
Answer: 23.09
Calculation: (709-576)/576
Contract Balances
The following table provides information about contract assets and contract liabilities from contracts with customers.
Contract assets primarily result from revenue being recognized when or as control of a solution or service is transferred to the customer, but where invoicing is delayed until the completion of other performance obligations or payment terms differ from the provisioning of services. The current portion of contract assets is reported within prepaid expenses and other in the consolidated balance sheet, and the non-current portion is included in other non-current assets. Contract liabilities (deferred revenue) primarily relate to consideration received from customers in advance of delivery of the related goods and services to the customer. Contract balances are reported in a net contract asset or liability position on a contract-by-contract basis at the end of each reporting period.
The Company analyzes contract language to identify if a significant financing component does exist, and would adjust the transaction price for any material effects of the time value of money if the timing of payments provides either party to the contract with a significant benefit of financing the transaction.
During the fiscal years ended June 30, 2019, 2018, and 2017, the Company recognized revenue of $265,946, $269,593, and $264,517, respectively, that was included in the corresponding deferred revenue balance at the beginning of the periods.
Revenue recognized that related to performance obligations satisfied (or partially satisfied) in prior periods were immaterial for each period presented. These adjustments are primarily the result of transaction price adjustments and re-allocations due to changes in estimates of variable consideration.
Table:
 | June 30, 2019 | June 30, 2018
Receivables, net | $310,080 | $297,271
Contract Assets- Current | 21,446 | 14,063
Contract Assets- Non-current | 50,640 | 35,630
Contract Liabilities (Deferred Revenue)- Current | 339,752 | 328,931
Contract Liabilities (Deferred Revenue)- Non-current | 54,554 | 40,984


Question: What information does the table show?
Answer: information about contract assets and contract liabilities from contracts with customers
table of contents index to financial statements item 3 . legal proceedings . item 4 . mine safety disclosures . not applicable . part ii price range our common stock trades on the nasdaq global select market under the symbol 201cmktx 201d . the range of closing price information for our common stock , as reported by nasdaq , was as follows : on february 16 , 2012 , the last reported closing price of our common stock on the nasdaq global select market was $ 32.65 . holders there were 41 holders of record of our common stock as of february 16 , 2012 . dividend policy we initiated a regular quarterly dividend in the fourth quarter of 2009 . during 2010 and 2011 , we paid quarterly cash dividends of $ 0.07 per share and $ 0.09 per share , respectively . in january 2012 , our board of directors approved a quarterly cash dividend of $ 0.11 per share payable on march 1 , 2012 to stockholders of record as of the close of business on february 16 , 2012 . any future declaration and payment of dividends will be at the sole discretion of the company 2019s board of directors . the board of directors may take into account such matters as general business conditions , the company 2019s financial results , capital requirements , contractual , legal , and regulatory restrictions on the payment of dividends to the company 2019s stockholders or by the company 2019s subsidiaries to the parent and any such other factors as the board of directors may deem relevant . recent sales of unregistered securities item 5 . market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities. .

Table:
2011: | high | low
january 1 2011 to march 31 2011 | $ 24.19 | $ 19.78
april 1 2011 to june 30 2011 | $ 25.22 | $ 21.00
july 1 2011 to september 30 2011 | $ 30.75 | $ 23.41
october 1 2011 to december 31 2011 | $ 31.16 | $ 24.57
2010: | high | low
january 1 2010 to march 31 2010 | $ 16.20 | $ 13.25
april 1 2010 to june 30 2010 | $ 17.40 | $ 13.45
july 1 2010 to september 30 2010 | $ 17.30 | $ 12.39
october 1 2010 to december 31 2010 | $ 20.93 | $ 16.93
.

Question: for the period from april 1 2011 to june 30 2011 , what was the difference between high and low stock price?
Answer: 4.22
Calculation: subtract(25.22, 21.00)
GreenSky, Inc. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued) (United States Dollars in thousands, except per share data, unless otherwise stated)
Cash and Cash Equivalents
Cash includes non-interest and interest-bearing demand deposit accounts with various financial institutions. Cash equivalents include money market mutual fund accounts, which are invested in government securities. We consider all highly liquid investments that mature three months or less from the date of purchase to be cash equivalents. The carrying amounts of our cash equivalents approximate their fair values due to their short maturities and highly liquid nature. Refer to Note 3 for additional information.
At times, our cash balances may exceed federally insured amounts and potentially subject the Company to a concentration of credit risk. The Company believes that no significant concentration of credit risk exists with respect to these balances based on its assessment of the creditworthiness and financial viability of these financial institutions. Further, our cash equivalents may expose us to credit risk; however, we believe this risk is limited, as the investments are backed by the full faith and credit of the United States government.
Restricted Cash
Restricted cash primarily consists of interest-bearing escrow accounts that are required under the terms of the contracts with our Bank Partners. Restricted cash is typically comprised of three components: (i) amounts we have escrowed with Bank Partners as limited protection to the Bank Partners in the event of excess Bank Partner portfolio credit losses; (ii) additional amounts we maintain for certain Bank Partners based on a contractual percentage of the total interest billed on outstanding deferred interest loans that are within the promotional period less previous finance charge reversal ("FCR") settlements on such outstanding loans; and (iii) certain custodial intransit loan funding and consumer borrower payments that we are restricted from using for our operations. These custodial balances are not considered in our evaluation of restricted cash usage. As it relates to our restricted cash escrowed with Bank Partners, we record a liability for the amount of restricted cash we expect to be payable to our Bank Partners, which is accounted for as a financial guarantee. Refer to Note 14 for additional information.
The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the Consolidated Balance Sheets to the total included within the Consolidated Statements of Cash Flows as of the dates indicated.
Table:
 |  | December 31, | 
 | 2019 | 2018 | 2017
Cash and cash equivalents | $195,760 | $303,390 | $224,614
Restricted cash | 250,081 | 155,109 | 129,224
Cash and cash equivalents and restricted cash in Consolidated Statements of Cash Flows | $445,841 | $458,499 | $353,838


Question: What was the change in Cash and cash equivalents between 2018 and 2019?
Answer: -107630
Calculation: 195,760-303,390
The following table summarizes the change in the valuation allowance (in thousands):
As of December 31, 2019, net operating loss (NOL) carryforwards for U.S. federal tax purposes totaled $31.4 million. Effective with the 2017 Tax Act in December 2017, NOLs generated after December 31, 2017, do not expire. Federal NOLs of $9.9 million expire at various dates from 2020 through 2037 and federal NOLs of $21.5 million do not expire. NOL carryforwards for state tax purposes totaled $40.6 million at December 31, 2019 and expire at various dates from 2020 through 2039.
Table:
Year Ended December 31 |  | 
 | 2019 | 2018
Vaulation allowances, beginning of year | $5,398 | $13,872
Net operating loss | 3,284 | 1,920
Expiration of net operating losses and limitations | (7) | (9,939)
Adjustment to deferred taxes | 29 | (321)
Impact of state tax rate change | 26 | (146)
Other adjusments | 9 | 12
Valuation allowance, end of year | $8,739 | $5,398


Question: What is the change in valuation allowance in 2019?
Answer: 3341
Calculation: 8,739 - 5,398
Stock-based Compensation Expense
The income tax benefit related to share-based compensation was $66 million, $158 million and $97 million for 2019, 2018 and 2017, respectively. The income tax benefits related to share-based compensation for the periods presented prior to the second quarter of 2018 were offset by an increase in the U.S. valuation allowance. Stock-based compensation expense of $30 million and $19 million was capitalized and remained in inventory as of August 29, 2019 and August 30, 2018, respectively. As of August 29, 2019, $439 million of total unrecognized compensation costs for unvested awards, before the effect of any future forfeitures, was expected to be recognized through the fourth quarter of 2023, resulting in a weighted-average period of 1.3 years.
Table:
For the year ended | 2019 | 2018 | 2017
Stock-based compensation expense by caption |  |  | 
Cost of goods sold | $102 | $83 | $88
Selling, general, and administrative | 73 | 61 | 75
Research and development | 68 | 54 | 52
 | $243 | $198 | $215
Stock-based compensation expense by type of award |  |  | 
Restricted stock awards | $178 | $140 | $144
Stock options | 33 | 55 | 71
ESPP | 32 | 3 | —
 | $243 | $198 | $215


Question: What is the proportion of income tax benefit related to share-based compensation over the total stock-based compensation expense in 2019?
Answer: 0.27
Calculation: 66/243
Selling, General and Administrative Expense
NM—Not meaningful
Total selling, general and administrative (SG&A) expense increased 6.4 percent in 2019 versus 2018, driven primarily by the following factors: • Higher spending (5 points) driven by Red Hat spending (5 points); and • Higher acquisition-related charges and amortization of acquired intangible assets associated with the Red Hat acquisition (3 points); partially offset by • The effects of currency (2 points).
Operating (non-GAAP) expense increased 3.4 percent year to year primarily driven by the same factors excluding the acquisition-related charges and amortization of acquired intangible assets associated with the Red Hat transaction.
Table:
($ in millions) |  |  | 
For the year ended December 31: | 2019 | 2018 | Yr.-to-Yr. Percent Change
Selling, general and administrative expense |  |  | 
Selling, general and administrative—other | $17,099 | $16,438 | 4.0%
Advertising and promotional expense | 1,647 | 1,466 | 12.3
Workforce rebalancing charges | 555 | 598 | (7.2)
Amortization of acquired intangible assets | 762 | 435 | 74.9
Stock-based compensation | 453 | 361 | 25.2
Bad debt expense | 89 | 67 | 32.5
Total consolidated selling, general and administrative expense | $20,604 | $19,366 | 6.4%
Non-operating adjustments |  |  | 
Amortization of acquired intangible assets | (762) | (435) | 74.9
Acquisition-related charges | (282) | (15) | NM
Operating (non-GAAP) selling, general and administrative expense | $19,560 | $18,915 | 3.4%


Question: What was the increase / (decrease) in the Selling, general and administrative—other from 2018 to 2019?
Answer: 661
Calculation: 17,099 - 16,438
Presentation of Derivative Gains (Losses) for Economic Hedges of Forecasted Cash Flows in Segment Results
Derivatives used to manage commodity price risk and foreign currency risk are not designated for hedge accounting treatment. We believe these derivatives provide economic hedges of certain forecasted transactions. As such, these derivatives are recognized at fair market value with realized and unrealized gains and losses recognized in general corporate expenses. The gains and losses are subsequently recognized in the operating results of the reporting segments in the period in which the underlying transaction being economically hedged is included in earnings. In the event that management determines a particular derivative entered into as an economic hedge of a forecasted commodity purchase has ceased to function as an economic hedge, we cease recognizing further gains and losses on such derivatives in corporate expense and begin recognizing such gains and losses within segment operating results, immediately.
The following table presents the net derivative gains (losses) from economic hedges of forecasted commodity consumption and the foreign currency risk of certain forecasted transactions, under this methodology:
As of May 26, 2019, the cumulative amount of net derivative gains from economic hedges that had been recognized in general corporate expenses and not yet allocated to reporting segments was $1.4 million. This amount reflected net gains of $1.0 million incurred during the fiscal year ended May 26, 2019, as well as net gains of $0.4 million incurred prior to fiscal 2019. Based on our forecasts of the timing of recognition of the underlying hedged items, we expect to reclassify to segment operating results gains of $0.9 million in fiscal 2020 and $0.5 million in fiscal 2021 and thereafter.
Notes to Consolidated Financial Statements - (Continued) Fiscal Years Ended May 26, 2019, May 27, 2018, and May 28, 2017 (columnar dollars in millions except per share amounts)
Table:
 | 2019 | 2018 | 2017
Net derivative gains (losses) incurred | $(3.6) | $(0.9) | $0.6
Less: Net derivative gains (losses) allocated to reporting segments | (1.8) | (7.1) | 5.7
Net derivative gains (losses) recognized in general corporate expenses | $(1.8) | $6.2 | $(5.1)
Net derivative gains (losses) allocated to Grocery & Snacks | $(2.1) | $0.2 | $3.4
Net derivative gains (losses) allocated to Refrigerated & Frozen | (1.1) | (0.3) | 0.8
Net derivative gains (losses) allocated to International | 2.8 | (6.9) | 1.6
Net derivative losses allocated to Foodservice | (0.6) | (0.1) | —
Net derivative losses allocated to Pinnacle Foods | (0.8) | — | —
Net derivative losses allocated to Commercial | — | — | (0.1)
Net derivative gains (losses) included in segment operating profit | $(1.8) | $(7.1) | $5.7


Question: What were the net derivative losses allocated to Foodservice in 2018 and 2019, respectively?
Answer: (0.6), (0.1)
Note 3: Recent Accounting Pronouncements
Recently Adopted
In May 2014, the FASB released ASU 2014-09, “Revenue from Contracts with Customers,” to supersede nearly all existing revenue recognition guidance under GAAP. The FASB issued subsequent amendments to the initial guidance in August 2015, March 2016, April 2016, May 2016 and December 2016 within ASU 2015–14, ASU 2016–08, ASU 2016–10, ASU 2016–12 and ASU 2016–20, respectively; all of which in combination with ASU 2014-09 were codified as Accounting Standard Codification Topic 606 (“ASC 606”). The core principle of the standard is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration that is expected to be received for those goods or services. The Company adopted ASC 606 on the first day of the current fiscal year, June 25, 2018, under the modified retrospective approach, applying the amendments to prospective reporting periods. Results for reporting periods beginning on or after June 25, 2018 are presented under ASC 606, while prior period amounts are not adjusted and continue to be reported in accordance with the historic accounting under ASC 605. In connection with the adoption of ASC 606, the Company’s revenue recognition policy has been amended, refer to Note 2—Summary of Significant Accounting Policies for a description of the policy.
The cumulative effect of the changes made to the Company’s Consolidated Balance Sheet as of June 25, 2018 for the adoption of ASC 606 to all contracts with customers that were not completed as of June 24, 2018 was recorded as an adjustment to retained earnings as of the adoption date as follows:
Table:
 | June 24, 2018 As Reported | Adjustments | Jun e25, 2018 As Adjusted
 |  | (in thousands) | 
Total assets | $12,479,478 | $12,955 | $12,492,433
Deferred profit | $720,086 | $(160,695) | $559,391
Total liabilities | $5,899,435 | $(126,400) | $5,773,035
Stockholder’s equity | $6,501,851 | $139,355 | $6,641,206


Question: What is the percentage change in the deferred profit after the adjustment?
Answer: -22.32
Calculation: (559,391-720,086)/720,086
RESULTS OF OPERATIONS
Revenue
(1) Reflects client arrangements (term license, cloud, and maintenance) that are subject to renewal.
We expect our revenue mix to continue to shift in favor of our subscription offerings, particularly cloud arrangements, which could result in slower total revenue growth in the near term. Revenue from cloud arrangements is generally recognized over the service period, while revenue from term and perpetual license arrangements is generally recognized upfront when the license rights become effective.
Subscription revenue
The increase in cloud revenue in 2019 reflects the shift in client preferences to cloud arrangements from other types of arrangements. The increase in term license revenue in 2019 was due to several large, multi-year term license contracts executed in 2019. This increase was partially offset by term license contracts with multi-year committed maintenance periods, where a greater portion of the contract value is allocated to maintenance.
The increase in maintenance revenue in 2019 was primarily due to the continued growth in the aggregate value of the installed base of our software and strong renewal rates in excess of 90%
Perpetual license
The decrease in perpetual license revenue in 2019 reflects the shift in client preferences in favor of our subscription offerings, particularly cloud arrangements
Consulting
Our consulting revenue fluctuates depending upon the mix of new implementation projects we perform as compared to those performed by our enabled clients or led by our partners. See "Our consulting revenue is significantly dependent upon our consulting personnel implementing new license and cloud arrangements" in Item 1A of this Annual Report for additional information.
The decrease in consulting revenue in 2019 was primarily due to a decrease in billable hours.
Table:
(Dollars in thousands) | 2019 |  | 2018 |  | Change | 
Cloud | $133,746 | 15% | 82,627 | 9% | $51,119 | 62%
Term license | 199,433 | 22% | 178,256 | 20% | 21,177 | 12%
Maintenance | 280,580 | 30% | 263,875 | 30% | 16,705 | 6%
Subscription (1) | 613,759 | 67% | 524,758 | 59% | 89,001 | 17%
Perpetual license | 80,015 | 9% | 109,863 | 12% | (29,848) | (27)%
Consulting | 217,609 | 24% | 256,960 | 29% | (39,351) | (15)%
 | $911,383 | 100% | $891,581 | 100% | $19,802 | 2%


Question: How is revenue from cloud arrangements recognised?
Answer: recognized over the service period