hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
iv. Details of the Remuneration for the year ended March 31, 2019:
a. Non-Executive Directors:
@ As a policy, N Chandrasekaran, Chairman, has abstained from receiving commission from the
Company.
@@ In line with the internal guidelines of the Company, no payment is made towards commission to
the Non-Executive Directors of the Company, who are in full time employment with any other Tata
company.
* Relinquished the position of Independent Director w.e.f. July 10, 2018.
** Relinquished the position of Independent Director w.e.f. September 28, 2018.
*** Appointed as an Additional and Independent Director w.e.f. December 18, 2018.
**** Appointed as an Additional and Independent Director w.e.f. January 10, 2019.
Table:
 |  | (` lakh)
Name | Commission | Sitting Fees
N Chandrasekaran, Chairman@ | - | 3.60
Aman Mehta | 315.00 | 4.80
V Thyagarajan* | 100.00 | 3.00
Prof Clayton M Christensen** | 75.00 | 0.30
Dr Ron Sommer | 220.00 | 5.10
O P Bhatt | 215.00 | 7.50
Aarthi Subramanian@@ | - | 5.70
Dr Pradeep Kumar Khosla | 150.00 | 2.10
Hanne Sorensen*** | 50.00 | 0.60
Keki Mistry*** | 50.00 | 0.60
Don Callahan**** | 35.00 | 0.30
Total | 1,210.00 | 33.60


Question: Who received the highest commission?
Answer: Aman Mehta
Depreciation and Amortization
The following table sets forth depreciation and amortization by segment for the periods presented (in millions):
(1) Depreciation and amortization for Corporate and Other primarily represents net incremental depreciation and amortization adjustments associated with the application of purchase accounting recorded in accordance with GAAP.
The increase in Depreciation and Amortization is primarily driven by implementation of new clients, accelerated amortization of deferred contract costs and hardware and software placed in service.
Table:
 | Year ended December 31, |  | Variance | 
 | 2019 | 2018 | $ | %
Software Solutions | $123.9 | $112.9 | $11.0 | 10%
Data and Analytics | 15.9 | 14.1 | 1.8 | 13%
Corporate and Other(1) | 96.4 | 90.0 | 6.4 | 7%
Total | $236.2 | $217.0 | 19.2 | 9%


Question: Why did Depreciation and Amortization increase?
Answer: implementation of new clients, accelerated amortization of deferred contract costs and hardware and software placed in service.
Issuer Purchases of Equity Securities
In March 2011, our Board of Directors approved a stock repurchase program, pursuant to which we are authorized to repurchase up to $1.5 billion of our common stock (the “2011 Buyback”). In addition to the 2011 Buyback, in December 2017, our Board of Directors approved an additional stock repurchase program, pursuant to which we are authorized to repurchase up to $2.0 billion of our common stock (the “2017 Buyback”, and together with the 2011 Buyback the “Buyback Programs”).
During the three months ended December 31, 2019, we repurchased a total of 93,654 shares of our common stock for an aggregate of $19.6 million, including commissions and fees, pursuant to the 2011 Buyback. There were no repurchases under the 2017 Buyback. The table below sets forth details of our repurchases under the 2011 Buyback during the three months ended December 31, 2019.
(1) Repurchases made pursuant to the 2011 Buyback
(2) Average price paid per share is a weighted average calculation using the aggregate price, excluding commissions and fees.
(3) Remaining under the 2011 Buyback.
We have repurchased a total of 14.1 million shares of our common stock under the 2011 Buyback for an aggregate of $1.4 billion, including commissions and fees. We expect to continue to manage the pacing of the remaining $2.1 billion under the Buyback Programs in response to general market conditions and other relevant factors. We expect to fund any further repurchases of our common stock through a combination of cash on hand, cash generated by operations and borrowings under our credit facilities. Purchases under the Buyback Programs are subject to our having available cash to fund repurchases.
Under the Buyback Programs, our management is authorized to purchase shares from time to time through open market purchases or in privately negotiated transactions not to exceed market prices and subject to market conditions and other factors. With respect to open market purchases, we may use plans adopted in accordance with Rule 10b5-1 under the Exchange Act in accordance with securities laws and other legal requirements, which allows us to repurchase shares during periods when we otherwise might be prevented from doing so under insider trading laws or because of self-imposed trading blackout periods. These programs may be discontinued at any time.
Table:
Period | Total Number of Shares Purchased (1) | Average Price Paid per Share (2) | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs | Approximate Dollar Value of Shares that May Yet be Purchased Under the Plans or Programs (3)
 |  |  |  | (in millions)
October 1, 2019 - October 31, 2019 | — | $ | — | $
November 1, 2019 - November 30, 2019 | 42,800 | $209.74 | 42,800 | $103.1
December 1, 2019 - December 31, 2019 | 50,854 | $209.59 | 50,854 | $92.4
Total Fourth Quarter | 93,654 | $209.66 | 93,654 | $92.4


Question: What was the change in the total number of shares purchased between November and December?
Answer: 8054
Calculation: 50,854-42,800
Stock Options
Our stock options are generally exercisable in increments of either one-fourth or one-third per year beginning one year from the date of grant. Stock options issued after February 2014 expire eight years from the date of grant. Options issued prior to February 2014 expire six years from the date of grant. Option activity for 2019 is summarized as follows:
The total intrinsic value was $108 million, $446 million, and $198 million for options exercised in 2019, 2018, and 2017, respectively.
Table:
 | Number of Shares | Weighted-Average Exercise Price Per Share | Weighted-Average Remaining Contractual Life (In Years) | Aggregate Intrinsic Value
Outstanding as of August 30, 2018 | 18 | $23.38 |  | 
Granted | — | 44.30 |  | 
Exercised | (5) | 17.50 |  | 
Canceled or expired | (1) | 22.60 |  | 
Outstanding as of August 29, 2019 | 12 | 25.94 | 4.3 | $220
Exercisable as of August 29, 2019 | 7 | $25.37 | 3.7 | $143
Unvested as of August 29, 2019 | 5 | 26.94 | 5.5 | 77


Question: For which stock options expire eight years from the date of the grant?
Answer: issued after February 2014
Operating profit
Notes
1. Before exceptional items, acquisition related costs, acquired intangible asset amortisation and share-based payment amounting to $4.3 million in total (2018 $19.6 million).
2. Adjusted operating profit as a percentage of revenue in the period.
Adjusted operating profit increased by $15.8 million or 20.5 per cent to $92.9 million in 2019, compared with $77.1 million in 2018. Adjusted operating margin increased by 2.2 per cent to 18.4 per cent, from 16.2 per cent in 2018.
Reported operating profit was up by $31.1 million or 54.1 per cent to $88.6 million (2018 $57.5 million). Total adjusting items were lower in 2019 at $4.3 million, compared to $19.6 million in 2018, mainly due to exceptional items totalling $13.1 million charged last year (see below).
Table:
$ million | 2019 | Adjusted operating margin 1, 2 % | 2018 | Adjusted operating margin 1, 2 %
Networks & Security | 73.9 | 23.1 | 56.4 | 19.8
Lifecycle Service Assurance | 18.1 | 16.3 | 17.4 | 15.4
Connected Devices | 9.5 | 13.1 | 10.5 | 13.3
Corporate | (8.6) |  | (7.2) | 
Adjusted operating profit1 | 92.9 | 18.4 | 77.1 | 16.2
Exceptional items | 0.5 |  | (13.1) | 
Acquisition related costs | (0.1) |  | – | 
Acquired intangible asset amortisation | (1.2) |  | (3.7) | 
Share-based payment | (3.5) |  | (2.8) | 
Reported operating profit | 88.6 |  | 57.5 | 


Question: What was the change in operating profit under Networks & Security?
Answer: 17.5
Calculation: 73.9-56.4
Note 7 – Equipment, Leasehold Improvements and Software
Equipment, leasehold improvements and software as of December 27, 2019 and December 28, 2018 consisted of the following:
Construction-in-process at December 27, 2019 related primarily to the implementation of the Company’s Enterprise Resource Planning (“ERP”) system and at December 28, 2018 related primarily to the implementation of the Company’s ERP system and the buildout of the Company’s headquarters in Ridgefield, CT. The buildout of the Company’s headquarters was completed during fiscal 2019. The rollout of its ERP system will continue through fiscal 2020. The net book value of equipment financed under finance leases at December 27, 2019 and December 28, 2018 was $3,905 and $388, respectively. No interest expense was capitalized during the fiscal years ended December 27, 2019, December 28, 2018 and December 29, 2017.
Table:
 | Useful Lives | December 27, 2019  | December 28, 2018
Land | Indefinite | $1,170 | $1,170
Buildings | 20 years | 1,360 | 1,292
Machinery and equipment | 5-10 years | 21,718 | 17,837
Computers, data processing and other equipment | 3-7 years | 12,686 | 11,244
Software | 3-7 years | 29,305 | 22,779
Leasehold improvements | 1-40 years | 70,903 | 60,565
Furniture and fixtures | 7 years | 3,309 | 3,268
Vehicles | 5-7 years | 6,410 | 2,769
Other | 7 years | 95 | 95
Construction-in-process    |  | 9,200 | 15,757
 |  | 156,156 | 136,776
Less: accumulated depreciation and amortization    |  | (63,310) | (51,500)
Equipment, leasehold improvements and software, net |  | $92,846 | $85,276


Question: What is the difference in useful lives between buildings and that of Furniture and fixtures?
Answer: 13
Calculation: 20-7
Lease liabilities regarding right-of-use assets are included on the balance sheet under “Borrowings”.
Extension and termination options are included in several leases in order to optimize operational flexibility in terms of managing contracts. The lease term determined by TORM is the noncancellable period of a lease, together with any extension/termination options if these are/are not reasonably certain to be exercised.
Table:
USDm | 2019 | 2018
Maturity analysis - contractual undiscounted cash flow |  | 
Less than one year | 7.5 | 5.2
One to five years | 27.6 | 25.6
More than five years | 0.1 | -
Total undiscounted lease liabilities as of 31 December | 35.2 | 30.8
Lease liabilities included under "Borrowings" as of 31 December | 30.6 | 25.3
Non-current | 10.2 | 3.2
Current | 20.4 | 22.1


Question: In which year was the amount of Current lease liabilities larger?
Answer: 2018
Calculation: 22.1>20.4
(4) Property and Equipment
Property and equipment consist of the following (in thousands):
Depreciation and amortization expense related to property and equipment was $22,538,000, $21,721,000 and $25,787,000 in 2019, 2018 and 2017, respectively.
On November 1, 2019, we completed the purchase of real estate in Chandler, Arizona for approximately $48,000,000 that we intend to use as our global corporate headquarters. The property contains a building and some infrastructure in place that we will complete readying for our use over the next year. We intend to sell our current properties in Tempe, Arizona.
Included within the software, buildings and land values presented above are assets in the process of being readied for use in the amounts of approximately $12,138,000, $27,658,000 and $11,700,000, respectively. Depreciation on these assets will commence, as appropriate, when they are ready for use and placed in service.
Table:
 | December 31, | 
 | 2019 | 2018
Software | $114,674 | $170,327
Buildings | 92,092 | 64,263
Equipment | 60,661 | 100,421
Furniture and fixtures | 34,768 | 38,200
Lease hold improvements | 33,668 | 26,319
Land | 31,374 | 5,124
 | 367,237 | 404,654
Accumulated depreciation and amortization | (236,330) | (331,700)
Property and equipment, net | $130,907 | $72,954


Question: How much was Depreciation and amortization expense related to property and equipment  in 2019?
Answer: $22,538,000
9. Income Taxes
On December 22, 2017, the Tax Act was enacted into law, which made changes to U.S. tax law, including, but not limited to: (1) reducing the U.S. Federal corporate income tax rate from 35% to 21%; (2) requiring companies to pay a one-time transition tax on certain unrepatriated earnings of foreign subsidiaries; (3) generally eliminating U.S. Federal corporate income taxes on dividends from foreign subsidiaries; (4) capitalizing R&D expenses which are amortized over five to 15 years; and (5) other changes to how foreign and domestic earnings are taxed.
The Tax Act includes a provision to tax global intangible low-taxed income (“GILTI”) of foreign subsidiaries and a base erosion anti-abuse tax (“BEAT”) measure that taxes certain payments between a U.S. corporation and its foreign subsidiaries. These provisions of the Tax Act were effective for the Company beginning August 1, 2018 and had no impact on the tax benefit for the year ended July 31, 2019.
Under U.S. GAAP, the Company can make an accounting policy election to either treat taxes due on the GILTI inclusion as a current period expense or factor such amounts into its measurement of deferred taxes. The Company has elected the current period expense method. The Company has finalized its assessment of the transitional impacts of the Tax Act.
In December 2018, the IRS issued proposed regulations related to the BEAT tax, which the Company is in the process of evaluating. If the proposed BEAT regulations are finalized in their current form, the impact may be material to the tax provision in the quarter of enactment.
The U.S. Treasury Department, the Internal Revenue Service (“IRS”), and other standard-setting bodies will continue to interpret or issue guidance on how provisions of the Tax Act will be applied or otherwise administered. The Company continues to obtain, analyze, and interpret guidance as it is issued and will revise its estimates as additional information becomes available.
Any legislative changes, including any other new or proposed U.S. Department of the Treasury regulations that have yet to be issued, may result in income tax adjustments, which could be material to our provision for income taxes and effective tax rate in the period any such changes are enacted. The Company’s income (loss) before provision for (benefit from) income taxes for the years ended July 31, 2019, 2018 and 2017 is as follows (in thousands):
Table:
 |  | Fiscal years ended July 31, | 
 | 2019 | 2018 | 2017
Domestic | $(1,778) | $(13,501) | $21,723
International | 14,230 | 5,225 | 6,803
Income (loss) before provision for (benefit from) income taxes | $12,452 | $(8,276) | $28,526


Question: What was the Domestic income (loss) before provision for (benefit from) income taxes in 2019, 2018 and 2017 respectively?
Answer: $(1,778), $(13,501), $21,723
2. Revenue
The Company is a global manufacturer of component and subsystem devices whose components are found in the primary end-markets of the aerospace, appliance, automotive, commercial vehicle, construction, consumer and industrial equipment, communications (including information processing and storage, networking equipment and wireless and terrestrial voice/data systems), medical, rail and other transportation industries. On April 29, 2018, the Company adopted ASC 606 along with the related amendments using a modified retrospective approach to all contracts open as of that date.
Upon adoption, the Company recognized a $0.1 million increase to opening retained earnings. This adjustment was a result of modifying the METHODE ELECTRONICS, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS F-14 Company's revenue recognition pattern for highly customized goods with no alternative use to over time recognition instead of point in time and for deferring revenue related to material rights that we provide to our customers. The overall impact to the Company's financial statements was immaterial. The Company has modified its controls to address the risks present under ASC 606.
As the Company has adopted ASC 606 using the modified retrospective approach, prior periods have not been restated, and as such they are presented under ASC 605. The impact of the changes in accounting policy on fiscal 2019 is provided below.
Table:
 |  | Fiscal Year Ended April 27, 2019 | 
(Dollars in Millions) | As Reported | Adjustments | Balance Under ASC 605
Net Sales | $1,000.3 | $(24.2) | $1,024.5
Cost of Products Sold | $734.5 | $(24.2) | $758.7
Total Inventories | $116.7 | $(0.5) | $117.2
Contract Assets | $0.8 | $0.8 | $—
Contract Liabilities | $0.3 | $0.3 | $—
Retained Earnings | $545.2 | $0.1 | $545.1


Question: What was the net sales as reported and under ASC 605 respectively?
Answer: 1,000.3, 1,024.5
21 Called up share capital and reserves
Other reserves in the Consolidated Statement of Changes in Equity on pages 151 to 152 are made up as follows:
The change in translation reserve includes a £1.4m credit transferred from retained earnings.
Table:
 | 1st January 2019 | Change in year | 31st December 2019
 | £m | £m | £m
Translation reserve | 30.3 | (45.0) | (14.7)
Net investment hedge reserve | (7.4) | 12.9 | 5.5
Cash flow hedges reserve | – | 3.3 | 3.3
Capital redemption reserve | 1.8 | – | 1.8
Employee Benefit Trust reserve | (2.5) | (4.0) | (6.5)
Total other reserves | 22.2 | (32.8) | (10.6)


Question: What is the  Translation reserve at the beginning of 2019?
Answer: 30.3
AMERICAN TOWER CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENT(Tabular amounts in millions, unless otherwise disclosed)
11. ASSET RETIREMENT OBLIGATIONS
The changes in the carrying amount of the Company’s asset retirement obligations were as follows:
(1) Revisions in estimates include decreases to the liability of $6.7 million and $49.4 million related to foreign currency translation for the years ended December 31, 2019 and 2018, respectively.
As of December 31, 2019, the estimated undiscounted future cash outlay for asset retirement obligations was $3.2 billion.
Table:
 | 2019 | 2018
Beginning balance as of January 1, | $1,210.0 | $1,175.3
Additions | 61.8 | 39.6
Accretion expense | 81.6 | 83.6
Revisions in estimates (1) | 56.8 | (81.5)
Settlements | (26.1) | (7.0)
Balance as of December 31, | $1,384.1 | $1,210.0


Question: As of December 31, 2019, what was the estimated undiscounted future cash outlay for asset retirement obligations?
Answer: $3.2 billion
Key Balance Sheet Information
Total assets increased $1,234.7 million as at December 31, 2019 compared to December 31, 2018, principally due to a $485.5 million increase in cash, cash equivalents and marketable securities mainly as a result of the public offering in September 2019, which resulted in net proceeds of $688.0 million. Business acquisitions during the year, largely due to the acquisition of 6RS, further impacted total assets through an increase in goodwill of $273.8 million, a $141.2 million increase in intangible assets and a resulting decrease in cash due to the consideration paid. The remainder of the increase is due to: the adoption of the new lease accounting standard, further discussed in the "Critical Accounting Policies and Estimates" section below, which resulted in the addition of right-of-use assets totaling $134.8 million as at December 31, 2019; a $58.3 million increase in merchant cash advances and loans receivable; a $49.8 million increase in property and equipment, largely related to leaseholds for our offices; a $49.2 million increase in trade and other receivables largely due to an increase in indirect taxes receivable, unbilled revenue related to subscription fees for Plus merchants, transaction fees and shipping charges; and a $19.4 million increase in deferred tax assets. Total liabilities increased by $309.7 million, principally as a result of the adoption of the new leasing standard, which resulted in $126.8 million of additional lease liabilities related to obtaining right-of-use assets. Accounts payable and accrued liabilities increased by $84.2 million, which was due to an increase in indirect taxes payable, payroll liabilities, and payment processing and interchange fees, partly offset by a decrease in foreign exchange forward contract liabilities. The increase was also due to income taxes payable of $69.4 million driven largely by the one-time capital gain recognized in the period. Deferred tax liabilities increased by $7.6 million, due to the acquisition of 6RS. The growth in sales of our subscription solutions offering, along with the acquisition of 6RS, resulted in an increase of deferred revenue of $21.6 million.
Table:
 | December 31, 2019 | December 31, 2018
 | (in thousands) | 
Cash, cash equivalents and marketable securities | $2,455,194 | $1,969,670
Total assets | 3,489,479 | 2,254,785
Total liabilities | 473,745 | 164,017
Total non-current liabilities | 157,363 | 25,329


Question: What is the average total liabilities for 2018 and 2019?
Answer: 318881
Calculation: (473,745+164,017)/2
ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
See Note 3 of our Notes to Consolidated Financial Statements for a discussion of 2019 and 2018 acquisitions.
Results of Operations
Revenues increased $9.0 million, or 61%, in 2019 compared to the prior year, with overall growth supported by the acquisition of Golden Ridge in November 2018, and MGI Grain in April 2019. Food product revenues increased 97% year over year, primarily due to the addition of new products for human consumption from Golden Ridge and MGI Grain. Animal feed product revenues increased 10%. Animal feed product growth was primarily due to increased buying from our existing SRB customer base.
Gross profit percentage decreased 23.8 percentage points to negative 3.6% in 2019 from 20.2% in the prior year. The decrease in gross profit was primarily attributable to operating losses at Golden Ridge due to an unfavorable contract to sell medium grain rice entered into by the seller of the mill and low levels of plant utilization in the latter half of the year while the mill was going through a planned upgrade cycle. With this project completed in early January 2020, we expect to see improved productivity and a positive contribution margin from Golden Ridge in 2020.
Selling, general and administrative (SG&A) expenses were $13.7 million in 2019, compared to $11.2 million in 2018, an increase of $2.5 million, or 22.4%. Outside services increased $1.1 million in 2019, compared to the prior year, primarily as a result of higher outside accounting, legal and professional fees associated with the acquisition of Golden Ridge and MGI Grain. Salary, wages and benefit related expenses increased $1.1 million in 2019, compared to the prior year, driven substantially by equity grants and outside labor costs. Bad debt expense increased $0.2 million and rent expense increased $0.1 million in 2019, compared to the prior year.
Other, net was $0.9 million for 2019 compared to $0.2 million in 2018. This increase was primarily related to the settlement of a net working capital dispute and other issues with the seller of Golden Ridge.
Table:
 | Years Ended December 31 |  | Change
 | 2019 | 2018 | %
 | (in thousands) |  | 
Revenues | $23,713 | $14,762 | 60.6
Cost of goods sold | 24,574 | 11,780 | (108.6)
Gross profit (loss) | (861) | 2,982 | 
Gross profit % | -3.6% | 20.2% | 
Selling, general and administrative expenses | 13,696 | 11,194 | (22.4)
Loss from operations | (14,557) | (8,212) | (77.3)
Other income (expense): | (96) | (12) | 
Interest expense | 50 | - | 
Other, net | 868 | 168 | 
Total other (expense) income | 822 | 156 | 
Loss before income taxes | $(13,735) | $(8,056) | 


Question: What is the average revenues from operations in 2018 and 2019?
Answer: 19237.5
Calculation: ($14,762 + $23,713)/2