hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
26 Operating leases
The Group earns rental income by leasing its investment properties to tenants under operating leases.
In the UK the standard shopping centre lease is for a term of 10 to 15 years. Standard lease provisions include service charge payments, recovery of other direct costs and review every five years to market rent. Standard turnover-based leases have a turnover percentage agreed with each lessee which is applied to a retail unit’s annual sales and any excess between the resulting turnover rent and the minimum rent is receivable by the Group and recognised as income in the period in which it arises.
The Group’s secure rental income profile is underpinned by long lease lengths (as mentioned above), high occupancy and upward only rent reviews.
The future minimum lease amounts receivable by the Group under non-cancellable operating leases for continuing operations are as follows:
The income statement includes £12.7 million (2018: £14.4 million) recognised in respect of contingent rents calculated by reference to tenants’ turnover.
Table:
£m | 2019 | 2018
Not later than one year | 322.6 | 374.6
Later than one year and not later than five years | 788.3 | 987.2
Later than five years | 657.3 | 973.5
 | 1,768.2 | 2,335.3


Question: How long is the lease for a standard shopping centre in the UK?
Answer: 10 to 15 years
Effective Income Tax Rate
A reconciliation of the United States federal statutory income tax rate to our effective income tax rate is as follows:
In 2019 and 2018 we had pre-tax losses of $19,573 and $25,403, respectively, which are available for carry forward to offset future taxable income. We made determinations to provide full valuation allowances for our net deferred tax assets at the end of 2019 and 2018, including NOL carryforwards generated during the years, based on our evaluation of positive and negative evidence, including our history of operating losses and the uncertainty of generating future taxable income that would enable us to realize our deferred tax.
Table:
 | Year Ended | Year Ended
 | December 31, 2018 | December 31, 2019
United States federal statutory rate | 21.00% | 21.00%
State taxes, net of federal benefit | 1.99% | (0.01)%
Valuation allowance | (21.96)% | (24.33)%
Cumulative effect of accounting change | — | 2.07%
R&D Credit | 1.34% | 1.53%
Other | (0.38)% | (0.27)%
Effective income tax rate | 1.99% | (0.01)%


Question: What was the change in the United States federal statutory rate between 2018 and 2019?
Answer: 0
Calculation: 21.00 - 21.00
Trade accounts receivable past due is defined as the amount outstanding beyond normal credit terms and conditions for the respective customers. A large portion of the Corporation’s customers are billed and pay before the services are rendered. The Corporation considers the amount outstanding at the due date as trade accounts receivable past due.
The following table provides further details on trade accounts receivable past due net of allowance for doubtful accounts at August 31, 2019 and 2018:
Table:
At August 31, | 2019 | 2018
(In thousands of Canadian dollars) | $ | $
Less than 60 days past due | 18,645 | 32,857
60 to 90 days past due | 899 | 3,022
More than 90 days past due | 3,074 | 4,923
 | 22,618 | 40,802


Question: What is the trade accounts receivable in 2019 less than 60 days past due?
Answer: 18,645
Revenue from external customers, classified by significant product and service offerings, was as follows:
Our commercial cloud revenue, which includes Office 365 Commercial, Azure, the commercial portion of LinkedIn, Dynamics 365, and other commercial cloud properties, was $38.1 billion, $26.6 billion and $16.2 billion in fiscal years 2019, 2018, and 2017, respectively. These amounts are primarily included in Office products and cloud services, Server products and cloud services, and LinkedIn in the table above.
Table:
 |  | (In millions) | 
Year Ended June 30, | 2019 | 2018 | 2017
Server products and cloud services | $ 32,622 | $ 26,129 | $ 21,649
Office products and cloud services | 31,769 | 28,316 | 25,573
Windows | 20,395 | 19,518 | 18,593
Gaming | 11,386 | 10,353 | 9,051
Search advertising | 7,628 | 7,012 | 6,219
LinkedIn | 6,754 | 5,259 | 2,271
Enterprise Services | 6,124 | 5,846 | 5,542
Devices | 6,095 | 5,134 | 5,062
Other | 3,070 | 2,793 | 2,611
Total | $  125,843 | $  110,360 | $   96,571


Question: How much of the total revenue in 2019 did not come from commercial cloud revenue?
Answer: 87743
Calculation: 125,843 million - 38.1 billion
15. AVERAGE SHARES OUTSTANDING
Our basic earnings per share calculation is computed based on the weighted-average number of common shares outstanding. Our diluted earnings per share calculation is computed based on the weighted-average number of common shares outstanding adjusted by the number of additional shares that would have been outstanding had the potentially dilutive common shares been issued. Potentially dilutive common shares include nonvested stock awards and units, stock options, and non-management director stock equivalents. Performance share awards are included in the average diluted shares outstanding each period if the performance criteria have been met at the end of the respective periods.
The following table reconciles basic weighted-average shares outstanding to diluted weighted-average shares outstanding in each fiscal year (in thousands):
Table:
 | 2019 | 2018 | 2017
Weighted-average shares outstanding — basic | 25,823 | 28,499 | 30,630
Effect of potentially dilutive securities: |  |  | 
Nonvested stock awards and units | 211 | 240 | 182
Stock options | 10 | 40 | 59
Performance share awards | 24 | 28 | 43
Weighted-average shares outstanding — diluted | 26,068 | 28,807 | 30,914
Excluded from diluted weighted-average shares outstanding: |  |  | 
Antidilutive | 186 | 150 | 76
Performance conditions not satisfied at the end of the period | 65 | 44 | 53


Question: What is the value of dilute weighted-average shares outstanding in 2019? 
Answer: 26,068
Stock Repurchase Program
As of April 26, 2019, our Board of Directors has authorized the repurchase of up to $13.6 billion of our common stock under our stock repurchase program . Under this program, which we may suspend or discontinue at any time, we may purchase shares of our outstanding common stock through solicited or unsolicited transactions in the open market, in privately negotiated transactions, through accelerated share repurchase programs, pursuant to a Rule 10b5-1 plan or in such other manner as deemed appropriate by our management.
The following table summarizes activity related to this program (in millions, except per share amounts):
The aggregate purchase price of our stock repurchases for fiscal 2019 consisted of $2.1 billion of open market purchases of which $1.0 billion and $1.1 billion were allocated to additional paid-in capital and retained earnings (accumulated deficit), respectively.
Since the May 13, 2003 inception of our stock repurchase program through April 26, 2019, we repurchased a total of 313 million shares of our common stock at an average price of $37.46 per share, for an aggregate purchase price of $11.7 billion.
Table:
 |  | Year Ended | 
 | April 26, 2019 | April 27, 2018 | April 28, 2017
Number of shares repurchased | 29 | 15 | 22
Average price per share | $ 72.87 | $ 51.57 | $ 32.72
Aggregate purchase price | $ 2,111 | $ 794 | $ 705
Remaining authorization at end of period | $ 1,889 | $ 4,000 | $ 794


Question: Which years does the table provide information for number of shares repurchased under the company's stock repurchase program?
Answer: 2019, 2018, 2017
stock performance graph the following graph sets forth the cumulative total shareholder return on our series a common stock , series b common stock and series c common stock as compared with the cumulative total return of the companies listed in the standard and poor 2019s 500 stock index ( 201cs&p 500 index 201d ) and a peer group of companies comprised of cbs corporation class b common stock , scripps network interactive , inc . ( acquired by the company in march 2018 ) , time warner , inc . ( acquired by at&t inc . in june 2018 ) , twenty-first century fox , inc . class a common stock ( news corporation class a common stock prior to june 2013 ) , viacom , inc . class b common stock and the walt disney company . the graph assumes $ 100 originally invested on december 31 , 2013 in each of our series a common stock , series b common stock and series c common stock , the s&p 500 index , and the stock of our peer group companies , including reinvestment of dividends , for the years ended december 31 , 2014 , 2015 , 2016 , 2017 and 2018 . two peer companies , scripps networks interactive , inc . and time warner , inc. , were acquired in 2018 . the stock performance chart shows the peer group including scripps networks interactive , inc . and time warner , inc . and excluding both acquired companies for the entire five year period . december 31 , december 31 , december 31 , december 31 , december 31 , december 31 .

Table:
 | december 312013 | december 312014 | december 312015 | december 312016 | december 312017 | december 312018
disca | $ 100.00 | $ 74.58 | $ 57.76 | $ 59.34 | $ 48.45 | $ 53.56
discb | $ 100.00 | $ 80.56 | $ 58.82 | $ 63.44 | $ 53.97 | $ 72.90
disck | $ 100.00 | $ 80.42 | $ 60.15 | $ 63.87 | $ 50.49 | $ 55.04
s&p 500 | $ 100.00 | $ 111.39 | $ 110.58 | $ 121.13 | $ 144.65 | $ 135.63
peer group incl . acquired companies | $ 100.00 | $ 116.64 | $ 114.02 | $ 127.96 | $ 132.23 | $ 105.80
peer group ex . acquired companies | $ 100.00 | $ 113.23 | $ 117.27 | $ 120.58 | $ 127.90 | $ 141.58
equity compensation plan information information regarding securities authorized for issuance under equity compensation plans will be set forth in our definitive proxy statement for our 2019 annual meeting of stockholders under the caption 201csecurities authorized for issuance under equity compensation plans , 201d which is incorporated herein by reference. .

Question: what was the percentage cumulative total shareholder return on disca for the five year period ended december 31 , 2018?
Answer: -46.44%
Calculation: subtract(53.56, const_100), divide(#0, const_100)
other long term debt in december 2012 , the company entered into a $ 50.0 million recourse loan collateralized by the land , buildings and tenant improvements comprising the company 2019s corporate headquarters . the loan has a seven year term and maturity date of december 2019 . the loan bears interest at one month libor plus a margin of 1.50% ( 1.50 % ) , and allows for prepayment without penalty . the loan includes covenants and events of default substantially consistent with the company 2019s credit agreement discussed above . the loan also requires prior approval of the lender for certain matters related to the property , including transfers of any interest in the property . as of december 31 , 2017 and 2016 , the outstanding balance on the loan was $ 40.0 million and $ 42.0 million , respectively . the weighted average interest rate on the loan was 2.5% ( 2.5 % ) and 2.0% ( 2.0 % ) for the years ended december 31 , 2017 and 2016 , respectively . the following are the scheduled maturities of long term debt as of december 31 , 2017 : ( in thousands ) .

Table:
2018 | $ 27000
2019 | 63000
2020 | 25000
2021 | 86250
2022 | 2014
2023 and thereafter | 600000
total scheduled maturities of long term debt | $ 801250
current maturities of long term debt | $ 27000
interest expense , net was $ 34.5 million , $ 26.4 million , and $ 14.6 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively .
interest expense includes the amortization of deferred financing costs , bank fees , capital and built-to-suit lease interest and interest expense under the credit and other long term debt facilities .
amortization of deferred financing costs was $ 1.3 million , $ 1.2 million , and $ 0.8 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively .
the company monitors the financial health and stability of its lenders under the credit and other long term debt facilities , however during any period of significant instability in the credit markets lenders could be negatively impacted in their ability to perform under these facilities .
7 .
commitments and contingencies obligations under operating leases the company leases warehouse space , office facilities , space for its brand and factory house stores and certain equipment under non-cancelable operating leases .
the leases expire at various dates through 2033 , excluding extensions at the company 2019s option , and include provisions for rental adjustments .
the table below includes executed lease agreements for brand and factory house stores that the company did not yet occupy as of december 31 , 2017 and does not include contingent rent the company may incur at its stores based on future sales above a specified minimum or payments made for maintenance , insurance and real estate taxes .
the following is a schedule of future minimum lease payments for non-cancelable real property operating leases as of december 31 , 2017 as well as .

Question: what is the percentage change in the balance of outstanding loan from 2016 to 2017?
Answer: 5.0%
Calculation: subtract(42.0, 40.0), divide(#0, 40.0)
Summary of Consolidated Cash Flows
The below table summarizes the cash provided or used in our activities and the amount of the respective changes between the periods (in millions):
Operating Activities Cash provided by operating activities was $110.5 million for the year ended December 31, 2019 as compared to cash provided by operating activities of $341.4 million for the year ended December 31, 2018. The $230.9 million decrease was the result of the recapture of reinsurance treaties by our Insurance segment in 2018 and was offset in part by improved performance of the Insurance segment subsequent to the KIC acquisition, significant reduction of losses at the Broadcasting segment driven by the cost cutting measures, and an increase in the working capital at our Telecommunications segments.
Investing Activities Cash used in investing activities was $263.7 million for the year ended December 31, 2019 as compared to cash used in investing activities of $224.6 million for the year ended December 31, 2018. The $39.1 million increase in cash used was a result of (i) an increase in net cash spent at our Insurance segment driven by purchases of investments from the residual cash received from the KIC acquisition and reinsurance recaptures in 2018, (ii) a decrease in cash proceeds received at our Life Sciences segment, from the 2018 upfront payment and 2019 escrow release related to the sale of BeneVir in the prior period, and (iii) an increase in cash used at our Energy segment to acquire ampCNG stations in 2019. These decreases were largely offset by a reduction in cash used by our Construction segment, driven by the acquisition of GrayWolf in 2018, and a reduction in cash used by our Broadcasting segment as less cash was used on its acquisitions in the current year compared to 2018.
This was largely offset by a reduction in net cash used by the Insurance segment's purchases of investments, as in the prior period the Insurance segment purchased investments from the cash received from the acquisition of KIC.
Financing Activities Cash provided by financing activities was $62.4 million for the year ended December 31, 2019 as compared to $115.2 million for the year ended December 31, 2018. The $52.8 million decrease was a result of a decrease in net borrowings by the Construction and Broadcasting segments, and offset in part by the increase in net borrowings by the Energy segment and Corporate segment, and a decline in cash paid to noncontrolling interest holders driven by the proceeds from our Life Sciences segment's sale of BeneVir in 2018.
Table:
Years Ended December 31, |  |  | 
 | 2019 | 2018 | Increase / (Decrease)
Operating activities | $110.5 | $341.4 | $(230.9)
Investing activities | (263.7) | (224.6) | (39.1)
Financing activities | 62.4 | 115.2 | (52.8)
Effect of exchange rate changes on cash and cash equivalents | 1.0 | (0.5) | 1.5
Net decrease in cash,cash equivalents and restricted cash | $(89.8) | $231.5 | $(321.3)


Question: What is the average financing activities?
Answer: 88.8
Calculation: (62.4 + 115.2) / 2
The table below presents estimated payments and benefits that would have been provided to Messrs. Lien, Walcott and Bertz, assuming their respective qualifying terminations as of December 31, 2019. As a condition of receiving any severance benefits in connection with the change in control agreements, each named executive officer must execute a full waiver and release of all claims in our favor. In addition to the benefits described in the tables below, upon termination of employment each executive officer may be eligible for other benefits that are generally available to all salaried employees, such as life insurance, long-term disability, and 401(k) benefits.
(1) Mr. Lien would receive 18 months of base salary and 150% of his annual target bonus. Mr. Walcott would receive 12 months of base salary and 100% of his annual target bonus. Mr. Bertz would receive six months of base salary, 50% of his annual target bonus and the pro rata portion of his unpaid annual target bonus for the period of completed service.
(2) Mr. Lien would receive 18 months of COBRA benefits reimbursement and Mr. Bertz would receive six months of COBRA benefits reimbursement. Mr. Walcott elected not to receive benefits from the Company that would be eligible for continuation under COBRA. As a result, Mr. Walcott would not be eligible for post-termination COBRA benefits reimbursement.
(3) As of December 31, 2019, Mr. Walcott held a stock option with 13,006 unvested shares subject to such option with an exercise price of $17.15 per share. The exercise price of each of these stock options is greater than $1.38, the closing price of our common stock on The Nasdaq Global Market as of December 31, 2019. As of December 31, 2019, Mr. Walcott had 78,750 unvested RSUs and Mr. Bertz had 40,000 unvested RSUs.
(4) Mr. Lien would receive nine months of base salary and 75% of his annual target bonus; Mr. Walcott would receive six months of base salary and 50% of his target bonus; Mr. Bertz would receive three months of base salary and 25% of his target bonus.
(5) Mr. Lien would receive nine months of COBRA benefits reimbursement and Mr. Bertz would receive three months of COBRA benefits reimbursement. Mr. Walcott elected not to receive benefits from the Company that would be eligible for continuation under COBRA. As a result, Mr. Walcott would not be eligible for post-termination COBRA benefits reimbursement.
Table:
 | Chris Lien | Wister Walcott | Robert Bertz
Termination after Change of Control: |  |  | 
Cash Severance(1) | $1,200,000 | $450,000 | $254,063
Post-termination COBRA Reimbursement(2) | 48,160 | — | 11,098
Acceleration of Stock Options and RSUs(3) | — | 108,675 | 55,200
Total | $1,248,160 | $558,675 | $320,361
Termination not in connection with Change of Control: |  |  | 
Cash Severance(4) | $600,000 | $225,000 | $103,125
Post-termination COBRA Reimbursement(5) | 24,080 | — | 5,549
Total | $624,080 | $225,000 | $108,674


Question: How many months of base salary would Mr Lien and Mr Walcott respectively receive as part of their cash severance?
Answer: 18, 12
NOTE 7 – LEASING
TORM has leases for the office buildings, some vehicles and other administrative equipment. With the exception of short-term leases and leases of low-value assets, each lease is reflected on the balance sheet as a right-of-use asset with a corresponding lease liability. The right-of-use assets are included in the financial statement line item in which the corresponding underlying assets would be presented if they were owned. Please refer to note 6.
As of 31 December 2019, TORM had recognized the following right-of-use assets:
Table:
USDm | Vessels and capitalized dry-docking | Land and buildings | Other plant and operating equipment
Cost: |  |  | 
Balance as of 1 January | 43.3 | - | -
Adjustment on transition to IFRS 16 | - | 9.9 | 0.3
Additions | 1.8 | 0.5 | 0.4
Disposals | -2.7 | - | -0.1
Balance as of 31 December | 42.4 | 10.4 | 0.6
Depreciation: |  |  | 
Balance as of 1 January | 13.4 | - | -
Disposals | -2.7 | - | -
Depreciation for the year | 4.8 | 2.3 | 0.2
Balance as of 31 December | 15.5 | 2.3 | 0.2
Carrying amount as of 31 December | 26.9 | 8.1 | 0.4


Question: What are the types of right-of-use assets considered in the table?
Answer: Vessels and capitalized dry-docking, Land and buildings, Other plant and operating equipment
Net periodic benefit expense for our post-retirement benefit plans includes the following components:
We report service costs for our Combined Pension Plan and post-retirement benefit plans in cost of services and products and selling, general and administrative expenses in our consolidated statements of operations for the years ended December 31, 2019, 2018 and 2017. Additionally, a portion of the service cost is also allocated to certain assets under construction, which are capitalized and reflected as part of property, plant and equipment in our consolidated balance sheets. The remaining components of net periodic benefit expense (income) are reported in other income, net in our consolidated statements of operations. As a result of ongoing efforts to reduce our workforce, we recognized a one-time charge in 2019 of $6 million and in 2018 of $15 million for special termination benefit enhancements paid to certain eligible employees upon voluntary retirement.
Table:
 | Post-Retirement Plans |  | 
 | Years Ended December 31, |  | 
 | 2019 | 2018 | 2017
 | (Dollars in milions) |  | 
Service cost | $15 | 18 | 18
Interest cost | 110 | 97 | 100
Expected return on plan assets | (1) | (1) | (2)
Recognition of prior service cost | 16 | 20 | 20
Net periodic post-retirement benefit expense | $140 | 134 | 136


Question: What was recognized as a result of ongoing efforts to reduce the company's workforce?
Answer: a one-time charge in 2019 of $6 million and in 2018 of $15 million for special termination benefit enhancements paid to certain eligible employees upon voluntary retirement
Restricted Stock Units
RSU activity is summarized as follows (shares in thousands):
The weighted-average grant date fair value of RSUs granted during the years ended December 31, 2019, 2018, and 2017 was $55.69, $46.17, and $37.99, respectively. The total fair value of RSUs vested as of the vesting dates during the years ended December 31, 2019, 2018, and 2017 was $58.4 million, $49.9 million, and $37.2 million, respectively.
Unrecognized compensation expense related to unvested RSUs was $127.2 million at December 31, 2019, which is expected to be recognized over a weighted-average period of 2.6 years.
Table:
 | Number of Shares | Weighted- Average Grant Date Fair Value
Unvested shares at December 31, 2018 | 4,117 | $41.94
Granted | 1,589 | 55.69
Forfeited | (510) | 45.72
Vested | (1,440) | 40.61
Unvested shares at December 31, 2019 | 3,756 | $47.76


Question: What was the unrecognized compensation expense related to unvested RSUs in 2019?
Answer: $127.2 million