hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
(5) Earnings Per Share
Basic earnings per share is computed by dividing Net earnings attributable to Black Knight by the weighted-average number of shares of common stock outstanding during the period.
For the periods presented, potentially dilutive securities include unvested restricted stock awards and the shares of BKFS Class B common stock prior to the Distribution. For the year ended December 31, 2017, the numerator in the diluted net earnings per share calculation is adjusted to reflect our income tax expense at an expected effective tax rate assuming the conversion of the shares of BKFS Class B common stock into shares of BKFS Class A common stock on a one-for-one basis prior to the Distribution. The effective tax rate for the year ended December 31, 2017 was (16.7)%, including the effect of the benefit related to the revaluation of our net deferred income tax liability and certain other discrete items recorded during 2017. For the year ended December 31, 2017, the denominator includes approximately 63.1 million shares of BKFS Class B common stock outstanding prior to the Distribution. The denominator also includes the dilutive effect of approximately 0.9 million, 0.6 million and 0.6 million shares of unvested restricted shares of common stock for the years ended December 31, 2019, 2018 and 2017, respectively.
The shares of BKFS Class B common stock did not share in the earnings or losses of Black Knight and were, therefore, not participating securities. Accordingly, basic and diluted net earnings per share of BKFS Class B common stock have not been presented.
The computation of basic and diluted earnings per share is as follows (in millions, except per share amounts):
Table:
 |  | Year ended December 31, | 
 | 2019 | 2018 | 2017
Basic: |  |  | 
Net earnings attributable to Black Knight | $108.8 | $168.5 | $182.3
Shares used for basic net earnings per share: |  |  | 
Weighted average shares of common stock outstanding | 147.7 | 147.6 | 88.7
Basic net earnings per share | $0.74 | $1.14 | $2.06
Diluted: |  |  | 
Earnings before income taxes and equity in losses of unconsolidated affiliates |  |  | $192.4
Income tax benefit excluding the effect of noncontrolling interests |  |  | (32.2)
Net earnings |  |  | $224.6
Net earnings attributable to Black Knight | $108.8 | $168.5 | 
Shares used for diluted net earnings per share: |  |  | 
Weighted average shares of common stock outstanding | 147.7 | 147.6 | 88.7
Dilutive effect of unvested restricted shares of common |  |  | 
stock | 0.9 | 0.6 | 0.6
Weighted average shares of BKFS Class B common stock outstanding | — | — | 63.1
Weighted average shares of common stock, diluted | 148.6 | 148.2 | 152.4
Diluted net earnings per share | $0.73 | $1.14 | $1.47


Question: What was the change in the basic net earnings per share between 2017 and 2019?
Answer: -1.32
Calculation: 0.74-2.06
We do not allocate to our operating segments certain operating expenses that we manage separately at the corporate level and are not used in evaluating the results of, or in allocating resources to, our segments. These unallocated expenses consist primarily of stock-based compensation expense; amortization of intangible assets; restructuring, transition and other costs; and acquisition-related costs.
The following table provides a reconciliation of our total reportable segments’ operating income to our total operating income (loss):
Table:
 |  | Year Ended | 
(In millions) | March 29, 2019 | March 30, 2018 | March 31, 2017
Total segment operating income | $1,414 | $1,584 | $1,026
Reconciling items: |  |  | 
Stock-based compensation expense | 352 | 610 | 440
Amortization of intangible assets | 443 | 453 | 293
Restructuring, transition and other costs | 241 | 410 | 273
Acquisition-related costs | 3 | 60 | 120
Other | (5) | 2 | -
Total consolidated operating income (loss) from continuing operations | $380 | $49 | $(100)


Question: What is the Total segment operating income for year ended  March 29, 2019?
Answer: $1,414
2 0 0 8 a n n u a l r e p o r t stock performance graph the following graph sets forth the performance of our series a common , series b common stock , and series c common stock for the period september 18 , 2008 through december 31 , 2008 as compared with the performance of the standard and poor 2019s 500 index and a peer group index which consists of the walt disney company , time warner inc. , cbs corporation class b common stock , viacom , inc . class b common stock , news corporation class a common stock , and scripps network interactive , inc . the graph assumes $ 100 originally invested on september 18 , 2006 and that all subsequent dividends were reinvested in additional shares . september 18 , september 30 , december 31 , 2008 2008 2008 .

Table:
 | september 18 2008 | september 30 2008 | december 31 2008
disca | $ 100.00 | $ 103.19 | $ 102.53
discb | $ 100.00 | $ 105.54 | $ 78.53
disck | $ 100.00 | $ 88.50 | $ 83.69
s&p 500 | $ 100.00 | $ 96.54 | $ 74.86
peer group | $ 100.00 | $ 92.67 | $ 68.79
s&p 500 peer group .

Question: was the c series 2008 annual return greater than the s&p 500?
Answer: yes
Calculation: greater(83.69, 74.86)
The following table presents the principal components of the difference between the effective tax rate to the U.S. federal statutory income tax rate for the years ended March 31:
During fiscal 2018, we recorded a provisional tax benefit of approximately $3.3 million as a result of the enactment of the Tax Cuts and Jobs Act ("Tax Act") on December 22, 2017.
We completed the accounting for the Tax Act during Q3 fiscal 2019 and recorded an adjustment on December 31, 2018 of $0.2 million to increase our deferred tax liability associated with certain indefinite lived intangibles. We have elected to account for global intangible low-taxed income (GILTI) inclusions in the period in which they are incurred.
Our tax provision includes a provision for income taxes in certain foreign jurisdictions where subsidiaries are profitable, but only a minimal benefit is reflected related to U.S. and certain foreign tax losses due to the uncertainty of the ultimate realization of future benefits from these losses.
The 2019 tax provision results primarily from foreign tax expense, the reversal of reserves for uncertain tax positions and the completion of our accounting for the Tax Act. The 2019 tax provision differs from the statutory rate primarily due to the recognition of net operating losses as deferred tax assets, which were offset by increases in the valuation allowance, state taxes and other U.S. permanent book to tax differences.
The 2018 tax provision primarily results from a reduction in the deferred rate and the ability to offset indefinite lived deferred tax liabilities with certain deferred tax assets due to passage of the Tax Act. The 2018 effective rate differs from the statutory rate primarily due to the impact of the Tax Act, recognition of net operating losses as deferred tax assets, which were offset by increases in the valuation allowance, certain foreign and state tax effects including a benefit of $0.4 million related to a settlement with the California Franchise Tax Board and other U.S. permanent book to tax differences.
The 2017 tax provision primarily results from state taxes, taxes withheld in foreign jurisdictions and foreign tax expense. The 2017 tax provision differs from the statutory rate primarily due to the recognition of net operating losses as deferred tax assets, which were offset by increases in the valuation allowance, state taxes and other U.S. permanent book to tax differences.
Table:
(In thousands) | 2019 | 2018 | 2017
Income tax benefit at the US Federal statutory rate | $(2,718) | $(3,654) | $(4,019)
Benefit for state taxes | (304) | (642) | (142)
Impact of foreign operations | (310) | 38 | 158
Indefinite life assets | 130 | 335 | 102
Officer life insurance | 3 | (5) | (6)
Change in valuation allowance | 3,302 | 3,328 | 4,007
Change in liability for unrecognized tax benefits | (400) | 40 | 9
Impact of Tax Act, net | 226 | (3,287) | —
Meals and entertainment | 60 | 81 | 163
Equity | 2 | 476 | —
Global intangible low-taxed income | 94 | — | —
Other | 136 | 39 | (36)
Total income tax expense (benefit) | $221 | $(3,251) | $236


Question: What was the provisional tax benefit in 2018?
Answer: approximately $3.3 million
Note 15. Employee Benefit Plans
Defined Benefit Plans
The Company has defined benefit pension plans that cover certain French and German employees. Most of these defined pension plans, which were acquired in the Atmel and Microsemi acquisitions, are unfunded. Plan benefits are provided in accordance with local statutory requirements. Benefits are based on years of service and employee compensation levels. Pension liabilities and charges are based upon various assumptions, updated annually, including discount rates, future salary increases, employee turnover, and mortality rates. The Company’s French pension plan provides for termination benefits paid to covered French employees only at retirement, and consists of approximately one to five months of salary. The Company's German pension plan provides for defined benefit payouts for covered German employees following retirement.
The aggregate net pension expense relating to these two plans is as follows (in millions):
Interest costs and amortization of actuarial losses are recorded in the other (loss) income, net line item in the statements of income.
Table:
 |  | Year Ended March 31, | 
 | 2019 | 2018 | 2017
Service costs | $1.5 | $2.2 | $1.4
Interest costs | 1.1 | 1.0 | 1.0
Amortization of actuarial loss | 0.4 | 0.8 | —
Settlements | — | — | 0.5
Net pension period cost | $3.0 | $4.0 | $2.9


Question: What was the change in service costs between 2017 and 2018?
Answer: 0.8
Calculation: 2.2-1.4
Cost of Revenues and Gross Margins
Cost of revenues consists primarily of manufacturing materials, payroll, shipping and handling costs, manufacturing-related overhead and amortization of certain intangible assets. Our manufacturing operations rely on a limited number of suppliers to provide key components and materials for our products, some of which are a sole source. We order materials and supplies based on backlog and forecasted customer orders.
Tooling and setup costs related to changing manufacturing lots at our suppliers are also included in the cost of revenues. We expense all warranty costs, inventory provisions and amortization of certain intangible assets as cost of revenues. Gross profit and gross margin by segment were as follows (dollars in thousands):
Probe Cards Gross profit in the Probe Cards segment increased in fiscal 2019 compared to fiscal 2018 primarily due to increased sales, offset by higher variable costs and by less favorable product mix.
Systems Gross profit and gross margin in the Systems segment increased in fiscal 2019 compared to fiscal 2018 due to increased sales.
Corporate and Other Corporate and Other includes unallocated expenses relating to amortization of intangible assets, share-based compensation, restructuring charges, net, and acquisition-related costs, including charges related to inventory stepped up to fair value and other costs, which are not used in evaluating the results of, or in allocating resources to, our reportable segments.
Overall Gross profit and gross margin fluctuate with revenue levels, product mix, selling prices, factory loading and material costs. For fiscal 2019 compared to fiscal 2018, gross profit increased due to increased sales while gross margins remained relatively consistent with fluctuations in product mix.
Stock-based compensation expense included in gross profit for fiscal 2019 and 2018 was $4.1 million and $3.5 million, respectively.
Table:
 |  | Fiscal 2019 |  | 
 | Probe Cards | Systems | Corporate and Other | Total
Gross profit | $211,382 | $50,927 | $(24,813) | $237,496
Gross margin | 43.0 % | 51.9 % | — % | 40.3 %
Fiscal 2018 |  |  |  | 
 | Probe Cards | Systems | Corporate and Other | Total
Gross profit | $187,320 | $47,074 | $(24,055) | $210,339
Gross margin | 43.1 % | 49.3 % | — % | 39.7 %
Fiscal 2017 |  |  |  | 
 | Probe Cards | Systems | Corporate and Other | Total
Gross profit | $195,903 | $46,647 | $(26,953) | $215,597
Gross margin | 43.1 % | 49.8 % | — % | 39.3 %


Question: For which revenue segment was Gross margin under 50.0% in 2019?
Answer: Probe Cards, Corporate and Other
Calculation: locate and analyze Gross Margin in row 4
LONG-TERM DEBT
In addition to the Facility, the Company also had the following long-term obligations at fiscal 2019 and fiscal 2018.
Table:
 | 2019 | 2018
Note payable to a bank (“Real Estate Loan”), interest payable at a fixed rate of 2.99% with monthly installments of principal and interest of $38,344 through August 2021 with remaining principal due September 2021, collateralized by three distribution facilities | $ 2,263,040 | $  2,648,179
Note payable, interest payable at a fixed rate of 4.50% with quarterly installments of principal and interest of $49,114 through June 2023 with remaining principal due September 2023 | 1,395,351 | 1,476,772
Note payable, interest-free with varying installments during fiscal 2019 | — | 629,746
 | 3,658,391 | 4,754,697
Less current maturities | (532,747) | (1,096,306)
 | $3,125,644 | $3,658,391


Question: What are the respective values of the company's interest-free note payable in 2018 and 2019?
Answer: 629,746, 0
notes to consolidated financial statements ( continued ) note 2 2014financial instruments ( continued ) typically , the company hedges portions of its forecasted foreign currency exposure associated with revenue and inventory purchases over a time horizon of up to 6 months . derivative instruments designated as cash flow hedges must be de-designated as hedges when it is probable the forecasted hedged transaction will not occur in the initially identified time period or within a subsequent 2 month time period . deferred gains and losses in other comprehensive income associated with such derivative instruments are immediately reclassified into earnings in other income and expense . any subsequent changes in fair value of such derivative instruments are also reflected in current earnings unless they are re-designated as hedges of other transactions . the company recognized net gains of approximately $ 672000 and $ 421000 in 2007 and 2006 , respectively , and a net loss of $ 1.6 million in 2005 in other income and expense related to the loss of hedge designation on discontinued cash flow hedges due to changes in the company 2019s forecast of future net sales and cost of sales and due to prevailing market conditions . as of september 29 , 2007 , the company had a net deferred gain associated with cash flow hedges of approximately $ 468000 , net of taxes , substantially all of which is expected to be reclassified to earnings by the end of the second quarter of fiscal 2008 . the net gain or loss on the effective portion of a derivative instrument designated as a net investment hedge is included in the cumulative translation adjustment account of accumulated other comprehensive income within shareholders 2019 equity . for the years ended september 29 , 2007 and september 30 , 2006 , the company had a net loss of $ 2.6 million and a net gain of $ 7.4 million , respectively , included in the cumulative translation adjustment . the company may also enter into foreign currency forward and option contracts to offset the foreign exchange gains and losses generated by the re-measurement of certain assets and liabilities recorded in non-functional currencies . changes in the fair value of these derivatives are recognized in current earnings in other income and expense as offsets to the changes in the fair value of the related assets or liabilities . due to currency market movements , changes in option time value can lead to increased volatility in other income and expense . note 3 2014consolidated financial statement details ( in millions ) other current assets .

Table:
 | 2007 | 2006
vendor non-trade receivables | $ 2392 | $ 1593
nand flash memory prepayments | 417 | 208
other current assets | 996 | 469
total other current assets | $ 3805 | $ 2270
.

Question: what percentage of total other current assets in 2006 was comprised of nand flash memory prepayments?
Answer: 9%
Calculation: divide(208, 2270)
8. Marketable Securities
The cost, gross unrealized gains, gross unrealized losses and fair market value of available-for-sale securities at April 30, 2019 and 2018, respectively, were as follows (in thousands):
Table:
 |  |  | April 30, 2019 | 
 | Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Market Value
Fixed income securities | $8,152 | $71 | $(24) | $8,199
 |  |  | April 30, 2018 | 
 | Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Market Value
Fixed income securities | $6,274 | $10 | $(135) | $6,149


Question: What is the percentage change in the fair market value between 2018 and 2019?
Answer: 33.34
Calculation: (8,199-6,149)/6,149
Below is the summary of the FY17 PRUs vested and earned by each NEO.
(1) The Compensation Committee did not exercise its discretion to reduce any payouts.
Table:
NEO | Total FY17 PRUs Vested at end of FY18 | Total FY17 PRUs Vested at end of FY19 | Total FY17 PRUs Earned and Vested (1)
Gregory S. Clark | 2,404,175 | 175,023 | 2,579,198
Nicholas R. Noviello | 606,935 | 44,184 | 651,119
Amy L. Cappellanti-Wolf | 207,142 | 15,080 | 222,222
Samir Kapuria | 148,322 | 10,798 | 159,120
Scott C. Taylor | 414,287 | 30,160 | 444,447


Question: What is the total Total FY17 PRUs Earned and Vested for all NEOs?
Answer: 4056106
Calculation: 2,579,198+651,119+222,222+159,120+444,447
Income Taxes
nm - not meaningful
For fiscal 2018, the effective tax rate was different than the statutory rate due primarily to the impact of the Tax Act reform. The Company recorded a benefit of approximately $3.3 million resulting from the effect of a reduction in the deferred rate and the ability to offset indefinite lived deferred tax liabilities with certain deferred tax assets, recognition of net operating losses as deferred tax assets, which were offset by increases in the valuation allowance, certain foreign and state tax effects including a benefit of $0.4 million related to a settlement with the California Franchise Tax Board and other U.S. permanent book to tax differences. At March 31, 2018, we had $198.7 million of a federal net operating loss carryforward that expires, if unused, in fiscal years 2031 to 2038.
For fiscal 2017, the effective tax rate was different than the statutory rate due primarily to the recognition of net operating losses as deferred tax assets, which were offset by increases in the valuation allowance, state taxes and other U.S. permanent book to tax differences.
Although the timing and outcome of tax settlements are uncertain, it is reasonably possible that during the next 12 months a reduction in unrecognized tax benefits may occur in the range of zero to $0.1 million of tax and zero to $0.2 million of interest based on the outcome of tax examinations and as a result of the expiration of various statutes of limitations. We are routinely audited; due to the ongoing nature of current examinations in multiple jurisdictions, other changes could occur in the amount of gross unrecognized tax benefits during the next 12 months which cannot be estimated at this time.
Because of our losses in prior periods, we have recorded a valuation allowance offsetting substantially all of our deferred tax assets. The ultimate realization of deferred tax assets generated prior to Tax Act reform depends on the generation of future taxable income during the periods in which those temporary differences are deductible. Because of our losses in prior periods, management believes that it is more-likely-than-not that we will not realize the benefits of these deductible differences.
Table:
 | Year ended March 31, |  | (Unfavorable) favorable | 
(Dollars in thousands) | 2018 | 2017 | $ | %
Income tax (benefit) expense | $ (3,251) | $ 236 | $ 3,487 | nm
Effective tax rate | (28.0)% | (2.1)% |  | 


Question: What was the average effective tax rate for 2017 and 2018?
Answer: -15.05
Calculation: -(28.0 + 2.1) / 2
European revenue decreased by 1.9%. Foreign exchange movements contributed a 0.8 percentage point negative impact and the deconsolidation of Vodafone Netherlands contributed a 4.1 percentage point negative impact, offset by 3.0% organic growth. Service revenue increased by 0.9%* or 0.6%* excluding a legal settlement in Germany in Q4, driven by strong fixed customer growth and the benefit of the Group’s “more-for-more” mobile propositions in several markets, which offset increased regulatory headwinds following the implementation of the EU’s “Roam Like At Home” policy in June and the impact of the introduction of handset financing in the UK. Excluding regulation and UK handset financing, as well as a legal settlement in Germany in Q4, service revenue growth was 2.0%* (Q3: 1.9%*, Q4: 1.7%*).
Adjusted EBITDA increased 7.3%, including a 5.1 percentage point negative impact from the deconsolidation of Vodafone Netherlands and a 0.6 percentage point negative impact from foreign exchange movements. On an organic basis, adjusted EBITDA increased 13.0%*, supported by the benefit of the introduction of handset financing in the UK, regulatory settlements in the UK and a legal settlement in Germany. Excluding these items, as well as the net impact of roaming, adjusted EBITDA grew by 7.9*, reflecting operating leverage and tight cost control through our “Fit for Growth” programme.
Adjusted EBIT increased by 86.3%*, reflecting strong adjusted EBITDA growth and stable depreciation and amortisation expenses.
Table:
 | Reported change | Other activity (including M&A) | Foreign exchange | Organic* change
 | % | pps | pps | %
Revenue – Europe | (1.9) | 4.1 | 0.8 | 3.0
Service revenue |  |  |  | 
Germany | 2.6 | – | – | 2.6
Italy | 1.0 | 0.2 | – | 1.2
UK | (8.1) | 0.1 | 4.5 | (3.5)
Spain | 1.8 | 0.3 | – | 2.1
Other Europe | (19.6) | 22.9 | (0.4) | 2.9
Europe | (3.9) | 4.0 | 0.8 | 0.9
Adjusted EBITDA |  |  |  | 
Germany | 10.9 | (0.1) | (0.1) | 10.7
Italy | 4.5 | 0.1 | – | 4.6
UK | 45.4 | (1.2) | 7. 6 | 51.8
Spain | 4.4 | 0.6 | – | 5.0
Other Europe | (18.8) | 26.8 | (0.3) | 7.7
Europe | 7.3 | 5.1 | 0.6 | 13.0
Europe adjusted operating profit | 53.2 | 34.8 | (1.7) | 86.3


Question: Which countries does the Adjusted EBITDA comprise of?
Answer: Germany, Italy, UK, Spain, Other Europe, Europe
Issuer Purchases of Equity Securities
The following table contains information about shares of our previously-issued common stock that we withheld from employees upon vesting of their stock-based awards during the fourth quarter of 2019 to satisfy the related tax withholding obligations:
Table:
 | Total Number of Shares Withheld for Taxes | Average Price Paid Per Share
Period |  | 
October 2019 | 16,585 | $11.57
November 2019 | 185,887 | 13.15
December 2019 | 12,368 | 13.70
Total | 214,840 | 


Question: Which periods does the table contain?
Answer: October 2019, November 2019, December 2019
2. Inventories
Inventories as of September 28, 2019 and September 29, 2018 consisted of the following (in thousands):
In certain circumstances, per contractual terms, customer deposits are received by the Company to offset obsolete and excess inventory risks. The total amount of customer deposits related to inventory and included within current liabilities on the accompanying Consolidated Balance Sheets as of September 28, 2019 and September 29, 2018 was $136.5 million and $87.7 million, respectively.
In fiscal 2019, the Company adopted and applied Topic 606 to all contracts using the modified retrospective method of adoption. The prior year comparative information has not been restated and continues to be reported under the accounting standards in effect for fiscal 2018. Refer to Note 15, "Revenue from Contracts with Customers," for further information.
Table:
 | 2019 | 2018
Raw materials | $577,545 | $579,377
Work-in-process  | 49,315 | 102,337
Finished goods  | 74,078 | 112,632
Total inventories, net | $700,938 | $794,346


Question: How many years did net total inventories exceed $700,000 thousand?
Answer: 2
Calculation: 2019##2018