hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
Geographic Information
The amounts for revenue by region in the following tables are based on the location of customers. The regions in the following table are EMEA (Europe, Middle East, and Africa), Americas (North America and Latin America), and APJ (Asia Pacific Japan).
Total Revenue by Region
Table:
€ millions | 2019 | 2018 | 2017
Germany | 3,948 | 3,658 | 3,352
Rest of EMEA | 8,158 | 7,446 | 7,063
EMEA | 12,105 | 11,104 | 10,415
United States | 9,085 | 7,880 | 7,436
Rest of Americas | 2,109 | 1,832 | 1,911
Americas | 11,194 | 9,713 | 9,347
Japan | 1,180 | 963 | 885
Rest of APJ | 3,074 | 2,928 | 2,814
APJ | 4,254 | 3,891 | 3,699
SAP Group | 27,553 | 24,708 | 23,461


Question: What was the percentage change in APJ in 2019 from 2018?
Answer: 9.33
Calculation: (4,254-3,891)/3,891
(1) For the three-month period ended August 31, 2019, the average foreign exchange rate used for translation was 1.3222 USD/CDN. (2) Fiscal 2018 was restated to comply with IFRS 15 and to reflect a change in accounting policy. For further details, please consult the "Accounting policies" section. (3) Fiscal 2019 actuals are translated at the average foreign exchange rate of the comparable period of fiscal 2018 which was 1.3100 USD/CDN.
REVENUE Fiscal 2019 fourth-quarter revenue increased by 7.0% (6.0% in constant currency). In local currency, revenue amounted to US$199.5 million compared to US$188.1 million for the same period of fiscal 2018. The increase resulted mainly from: • rate increases; • activation of bulk properties in Florida during the fourth quarter of fiscal 2019; • continued growth in Internet service customers; and • the FiberLight acquisition completed in the first quarter of fiscal 2019; partly offset by • a decrease in video service customers.
OPERATING EXPENSES Fiscal 2019 fourth-quarter operating expenses increased by 8.6% (7.6% in constant currency) mainly as a result of: • programming rate increases; • the FiberLight acquisition completed in the first quarter of fiscal 2019; • higher compensation expenses due to higher headcount to support growth; and • higher marketing initiatives to drive primary service units growth.
ADJUSTED EBITDA Fiscal 2019 fourth-quarter adjusted EBITDA increased by 5.1% (4.1% in constant currency). In local currency, adjusted EBITDA amounted to US$87.4 million compared to US$83.9 million for the same period of fiscal 2018. The increase was mainly due to organic growth combined with the impact of the FiberLight acquisition.
ACQUISITIONS OF PROPERTY, PLANT AND EQUIPMENT Fiscal 2019 fourth-quarter acquisitions of property, plant and equipment decreased by 9.5% (10.5% in constant currency) mainly due to: • lower purchases of customer premise equipment due to the timing of certain initiatives; and • lower capital expenditures due to the timing of certain initiatives; partly offset by • additional capital expenditures related to the expansion in Florida.
Table:
Three months ended August 31, | 2019(1) | 2018(2) | Change | Change in constant currency(3) | Foreign exchange impact(3)
(in thousands of dollars, except percentages) | $ | $ | % | % | $
Revenue | 263,738 | 246,443 | 7.0 | 6.0 | 2,427
Operating expenses | 148,215 | 136,506 | 8.6 | 7.6 | 1,370
Adjusted EBITDA | 115,523 | 109,937 | 5.1 | 4.1 | 1,057
Adjusted EBITDA margin | 43.8% | 44.6% |  |  | 
Acquisitions of property, plant and equipment | 65,967 | 72,914 | (9.5) | (10.5) | 704
Capital intensity | 25.0% | 29.6% |  |  | 


Question: What was the increase / (decrease) in operating expenses from 2018 to 2019?
Answer: 11709
Calculation: 148,215 - 136,506
1 Interest on borrowings includes interest on short-term borrowings and on long-term debt.
FOREIGN EXCHANGE AND CHANGE IN FAIR VALUE OF DERIVATIVE INSTRUMENTS We recognized $79 million in net foreign exchange gains in 2019 (2018 – $136 million in net losses). These gains and losses were primarily attributed to our US dollar-denominated commercial paper (US CP) program borrowings (see note 17).
These foreign exchange gains (2018 – losses) were partially offset by the $80 million loss related to the change in fair value of derivatives (2018 – $95 million gain) that was primarily attributed to the debt derivatives, which were not designated as hedges for accounting purposes, we used to substantially offset the foreign exchange risk related to these US dollar-denominated borrowings.
During the year ended December 31, 2018, after determining we would not be able to exercise our outstanding bond forward derivatives (bond forwards) within the designated time frame, we discontinued hedge accounting and reclassified a $21 million loss from the hedging reserve within shareholders’ equity to “change in fair value of derivative instruments” within finance costs.
We subsequently extended the bond forwards and redesignated them as effective hedges. During the year ended December 31, 2019, we exercised these bond forwards. See note 17 for more information on our bond forwards.
NOTE 11: FINANCE COSTS
Table:
 | Years ended December 31 | Years ended December 31 | Years ended December 31
(In millions of dollars) | Note | 2019 | 2018
Interest on borrowings 1 |  | 746 | 709
Interest on post-employment benefits liability | 23 | 11 | 14
Loss on repayment of long-term debt | 21 | 19 | 28
(Gain) loss on foreign exchange |  | (79) | 136
Change in fair value of derivative instruments |  | 80 | (95)
Capitalized interest |  | (19) | (20)
Other |  | 21 | 21
Finance costs before interest on lease liabilities |  | 779 | 793
Interest expense on lease liabilities | 8 | 61 | -
Total finance costs |  | 840 | 793


Question: What is the increase/ (decrease) in Interest on post-employment benefits liability from 2018 to 2019?
Answer: -3
Calculation: 11-14
Contractual Obligations and Commercial Commitments
The following table summarizes our non-cancelable contractual obligations and commercial commitments as of the end of 2019 and the effect such obligations and commitments are expected to have on our liquidity and cash flows in future fiscal periods (in thousands):
(1) Certain of our wafer manufacturers require us to forecast wafer starts several months in advance. We are committed to take delivery of and pay for a portion of forecasted wafer volume.
(2) Other commercial commitments are included as liabilities on our consolidated balance sheets as of the end of 2019.
(3) Does not include unrecognized tax benefits of $2.1 million as of the end of 2019. See Note 10 of the Consolidated Financial Statements.
Table:
 |  |  |  | Payments Due by Period | 
 | Total | Less than 1 year | 1-3 Years | 4-5 Years | More than 5 Years
Contractual cash obligations: |  |  |  |  | 
Operating leases | $2,040 | $611 | $902 | $527 | $—
Finance software lease obligations | 514 | 214 | 300 | — | —
Wafer purchases (1) | 57 | 57 | — | — | —
Other purchase commitments | 413 | 386 | 27 | — | —
Total contractual cash obligations | 3,024 | 1,268 | 1,229 | 527 | —
Other commercial commitments (2): |  |  |  |  | 
Revolving line of credit | 15,000 | 15,000 | — | — | —
Total commercial commitments | 15,000 | 15,000 | — | — | —
Total contractual obligations and commercial commitments (3) | $18,024 | $16,268 | $1,229 | $527 | —


Question: What is the average operating leases due in less than 1 year and between 1 to 3 years?
Answer: 756.5
Calculation: ($611 + $902)/2
3.5 INCOME TAXES
(1) Fiscal 2018 was restated to comply with IFRS 15 and to reflect a change in accounting policy as well as to reclassify results from Cogeco Peer 1 as discontinued operations. For further details, please consult the "Accounting policies" and "Discontinued operations" sections.
Fiscal 2019 income taxes expense amounted to $83.7 million compared to a recovery of $17.2 million for the prior year mainly attributable to: • the effect of the federal rate reduction in the second quarter of fiscal 2018 in the United States; • the increase in profit before income taxes which is mostly related to the impact of the MetroCast acquisition completed in the second quarter of fiscal 2018, and • the appreciation of the US dollar against the Canadian dollar compared to the prior year.
On March 19, 2019, the Department of Finance Canada confirmed the acceleration of tax depreciation on most capital investments for property, plant and equipment acquired after November 20, 2018, which phases out during the period from 2023 to 2028. The federal accelerated tax depreciation had a favorable impact on the current income tax expense of the Corporation in fiscal 2019. On March 21, 2019, the Québec Department of Finance confirmed that it would harmonize with the Federal legislation.
On December 22, 2017, the U.S. federal government enacted the Tax Cuts and Jobs Act (the "Act"). The tax reform reduced the general federal corporate tax rate from 35% to 21% starting after 2017 which reduced net deferred tax liabilities by approximately $94 million (US$74 million) in the second quarter of fiscal 2018. In addition, the Act calls for other changes such as interest deductibility limitations, full deduction of acquisitions of tangible assets, net operating losses limitations as well as base erosion anti-avoidance, which together with tax rate reductions, had an overall favorable impact on the income tax expense.
Table:
Years ended August 31, | 2019 | 2018 (1) | Change
(in thousands of dollars, except percentages) | $ | $ | %
Profit before income taxes | 440,563 | 367,380 | 19.9
Combined Canadian income tax rate | 26.50% | 26.50% | —
Income taxes at combined Canadian income tax rate | 116,749 | 97,356 | 19.9
Difference in operations' statutory income tax rates | 1,466 | (3) | —
Impact on deferred taxes as a result of changes in substantively enacted tax rates | 15 | (94,175) | —
Impact on income taxes arising from non-deductible expenses and non-taxable profit | (565) | 1,670 | —
Tax impacts related to foreign operations | (28,633) | (22,099) | 29.6
Other | (5,377) | 53 | —
 | 83,655 | (17,198) | —


Question: What were the income tax expense in 2019?
Answer: $83.7
Note 13 Contract costs
The table below provides a reconciliation of the contract costs balance.
Contract costs are amortized over a period ranging from 12 to 84 months.
Table:
FOR THE YEAR ENDED DECEMBER 31 | 2019 | 2018
Opening balance, January 1 | 707 | 636
Incremental costs of obtaining a contract and contract fulfillment costs | 602 | 567
Amortization included in operating costs | (523) | (477)
Impairment charges included in operating costs | (3) | (19)
Ending balance, December 31 | 783 | 707


Question: What is the change in the incremental costs of obtaining a contract and contract fulfillment costs in 2018 to 2019?
Answer: 35
Calculation: 602-567
iv) Shareholding Pattern of top ten shareholders (other than Directors, Promoters and holder of GDRs and ADRs):
* The shares of the Company are traded on daily basis and hence the datewise increase/decrease in shareholding is not indicated. Shareholding is consolidated based on permanent account number (PAN) of the shareholder.
Table:
Top Ten Shareholders* | Shareholding at the beginning of the year April 1, 2018 |  | Cumulative shareholding at end of the year March 31, 2019 | 
 | No. of shares | % of total shares of the Company | No. of shares | % of total shares of the Company
1. Life Insurance Corporation of India | 75,384,947 | 3.9 | 152,493,927 | 4.1
2. SBI Mutual Fund | 7,056,720 | 0.4 | 21,680,561 | 0.6
3. First State Investments Icvc- Stewart Investors Asia Pacific Leaders Fund | 15,054,489 | 0.8 | 19,248,438 | 0.5
4. Government of Singapore | 6,497,754 | 0.3 | 18,028,475 | 0.5
5.Oppenheimer Developing Markets Fund | 7,996,009 | 0.4 | 16,731,906 | 0.5
6.ICICI Prudential Life Insurance Company Ltd | 3,886,141 | 0.2 | 16,139,316 | 0.4
7.Axis Mutual Fund Trustee Limited | 4,055,256 | 0.2 | 15,244,614 | 0.4
8.Abu Dhabi Investment Authority | 6,296,384 | 0.3 | 15,036,984 | 0.4
9. Vanguard Emerging Markets Stock Index Fund, A Series of Vanguard International Equity Index Funds | 7,595,080 | 0.4 | 14,112,213 | 0.4
10. Vanguard Total International Stock Index Fund | 6,179,273 | 0.3 | 13,978,944 | 0.4


Question: Why are datewise changes in shareholding not indicated?
Answer: shares of the Company are traded on daily basis
NOTE 15 – INCOME TAXES (CONTINUED)
The cumulative tax effect of significant items comprising our net deferred tax amount at the expected rate of 21% is as follows as of December 31, 2019 and 2018:
The ultimate realization of deferred tax assets is dependent upon the Company’s ability to generate sufficient taxable income during the periods in which the net operating losses expire and the temporary differences become deductible. The Company has determined that there is significant uncertainty that the results of future operations and the reversals of existing taxable temporary differences will generate sufficient taxable income to realize the deferred tax assets; therefore, a valuation allowance has been recorded. In making this determination, the Company considered historical levels of income as well as projections for future periods.
The tax years 2016 to 2019 remain open for potential audit by the Internal Revenue Service. There are no uncertain tax positions as of December 31, 2018 or December 31, 2019, and none are expected in the next 12 months. The Company’s foreign subsidiaries are cost centers that are reimbursed for expenses, so generate no income or loss. Pretax book income (loss) is all from domestic operations. Up to four years of returns remain open for potential audit in foreign jurisdictions, however any audits for periods prior to ownership by the Company are the responsibility of the previous owners.
Under certain circumstances issuance of common shares can result in an ownership change under Internal Revenue Code Section 382, which limits the Company’s ability to utilize carry-forwards from prior to the ownership change. Any such ownership change resulting from stock issuances and redemptions could limit the Company’s ability to utilize any net operating loss carry-forwards or credits generated before this change in ownership. These limitations can limit both the timing of usage of these laws, as well as the loss of the ability to use these net operating losses. It is likely that fundraising activities have resulted in such an ownership change.
Table:
 | 2019 | 2018
Deferred tax asset attributable to:       |  | 
Net operating loss carryover  | $3,839,000 | $2,290,000
Stock compensation   | 320,000 | 535,000
Intangible Assets   | - | 124,000
Other   | 36,000 | 3,000
Deferred tax asset  | 4,195,000 | $2,952,000
Deferred tax liabilities attributable to:         |  | 
Fixed assets  | $(13,000) | $(5,000)
Intangibles   | (2,438,000) | -
Other   | (16,000) | (9,000)
Valuation allowance   | (1,728,000) | (2,938,000)
Deferred tax liability  | $(4,195,000) | $(2,952,000)
Net deferred tax asset  | $- | $-


Question: What is the average net operating loss carryover from 2018 to 2019?
Answer: 3064500
Calculation: (3,839,000+2,290,000)/2
Realization of net operating loss carryforwards and other deferred tax temporary differences are contingent upon future taxable earnings. The Company’s deferred tax assets were reviewed for expected utilization by assessing the available positive and negative factors surrounding their recoverability.
As of September 30, 2018, the Company’s remaining valuation allowance of approximately $105,000 related to state net operating loss carry forwards. During the fourth quarter of 2019, the Company reversed approximately $58,000 of its valuation allowance. This consisted of decreasing the valuation allowance for the expiration and utilization of state net operating losses in 2019 of approximately $68,000 and increasing the valuation allowance by approximately $10,000 for future expected NOL utilization based on updated profitability estimates and changes to the loss utilization rules. The remaining valuation allowance balance as of September 30, 2019 of approximately $47,000 relates entirely to state net operating loss carry forwards we do not expect to utilize. The Company will continue to assess the assumptions used to determine the amount of our valuation allowance and may adjust the valuation allowance in future periods based on changes in assumptions of estimated future income and other factors. If the valuation allowance is reduced, we would record an income tax benefit in the period the valuation allowance is reduced. If the valuation allowance is increased, we would record additional income tax expense.
Significant components of deferred income tax assets and liabilities are as follows at:
Table:
 | September 30, 2019 | September 30, 2018
Deferred income tax assets (liabilities): |  | 
Intangibles | $(75,190) | $(70,467)
Property and equipment depreciation | (521,586) | (552,119)
Net operating loss carry forwards and credits | 377,505 | 464,274
Stock-based compensation | 114,118 | 151,558
Inventories | 350,197 | 400,111
Prepaid expenses | (63,252) | (60,806)
Accrued expenses and reserves | 371,414 | 250,787
Goodwill | (607,882) | (583,415)
Gross deferred tax liability | (54,676) | (77)
Valuation allowance | (47,014) | (104,858)
Net deferred tax liability | $(101,690) | $(104,935)


Question: What is the percentage change in gross deferred tax liability from 2018 to 2019?
Answer: 70907.79
Calculation: (54,676-77)/77
Property, plant and equipment consists of the following (in millions):
Depreciation expense was $52.3 million and $46.6 million for the years ended December 31, 2019 and 2018, respectively. These amounts included $9.1 million and $7.0 million of depreciation expense recognized within cost of revenue for the years ended December 31, 2019 and 2018, respectively.
As of December 31, 2019 and 2018 total net book value of equipment, cable-ships, and submersibles under capital leases consisted of $35.1 million and $40.0 million, respectively.
For the year ended December 31, 2018, our Energy segment recorded an impairment expense of $0.7 million, of which $0.4 million was due to station performance and $0.3 million was related to the abandonment of a station development project.
Table:
 | December 31, | 
 | 2019 | 2018
Cable-ships and submersibles | $ 246.5 | $ 251.1
Equipment, furniture and fixtures, and software | 214.1 | 148.0
Building and leasehold improvements | 48.9 | 47.3
Land | 36.8 | 32.8
Construction in progress | 14.3 | 12.9
Plant and transportation equipment | 13.5 | 12.0
 | 574.1 | 504.1
Less: Accumulated depreciation | 168.3 | 127.8
Total | $ 405.8 | $ 376.3


Question: What was the impairment expense for Energy segment in 2018?
Answer: $0.7 million
Interest expense and financing costs
Fees and discounts associated with the issuance of our debt instruments are recorded as debt discount, which reduces their respective carrying values, and are amortized over their respective terms. Amortization expense is recorded within “Interest and other expense (income), net” in our consolidated statement of operations.
For the years ended December 31, 2019, 2018, and 2017: interest expense was $86 million, $134 million, and $150 million, respectively; amortization of the debt discount and deferred financing costs was $4 million, $6 million, and $12 million, respectively.
A summary of our outstanding debt is as follows (amounts in millions):
With the exception of the 2026 and the 2047 Notes, using Level 2 inputs (i.e., observable market prices in less-than-active markets) at December 31, 2019, the carrying values of the Notes approximated their fair values, as the interest rates were similar to the current rates at which we could borrow funds over the selected interest periods. At December 31, 2019, based on Level 2 inputs, the fair value of the 2026 and the 2047 Notes were $893 million and $456 million, respectively.
Using Level 2 inputs at December 31, 2018, the carrying values of the 2021 Notes and the 2022 Notes approximated their fair values, as the interest rates were similar to the current rates at which we could borrow funds over the selected interest periods. At December 31, 2019, based on Level 2 inputs, the fair values of the 2026 Notes, the 2027 Notes, and the 2047 Notes were $800 million, $376 million, and $360 million, respectively.
Table:
 |  | At December 31, 2019 | 
 | Gross Carrying Amount | Unamortized Discount and Deferred Financing Costs | Net Carrying Amount
2021 Notes | $650 | $(2) | $648
2022 Notes | 400 | (2) | 398
2026 Notes | 850 | (7) | 843
2027 Notes | 400 | (5) | 395
2047 Notes | 400 | (9) | 391
Total long-term debt | $2,700 | $(25) | $2,675
 |  | At December 31, 2018 | 
 | Gross Carrying Amount | Unamortized Discount and Deferred Financing Costs | Net Carrying Amount
2021 Notes | 650 | (3) | 647
2022 Notes | 400 | (3) | 397
2026 Notes | 850 | (8) | 842
2027 Notes | 400 | (5) | 395
2047 Notes | 400 | (10) | 390
Total long-term debt | $2,700 | $(29) | $2,671


Question: What were fees and discounts associated with the issuance of the company's debt instruments recorded as?
Answer: debt discount, which reduces their respective carrying values, and are amortized over their respective terms.
Our net sales by offering category for EMEA for 2019 and 2018, were as follows (dollars in thousands):
Net sales in EMEA remained flat (increased 5% excluding the effects of fluctuating foreign currency exchange rates), or down $3.6 million, in 2019 compared to 2018. Net sales of hardware declined 5%, year to year, while net sales of software and services were up 2% and 7%, respectively, year over year. The changes were the result of the following:
• Lower volume of net sales of networking solutions, partially offset by higher volume of net sales of devices, to large enterprise and public sector clients in hardware net sales. • Higher volume of software net sales to large enterprise and public sector clients.
• Higher volume of net sales of cloud solution offerings and increased software referral fees that are recorded on a net sales recognition basis. In addition, there was an increase in the volume of Insight delivered services.
Table:
 | EMEA |  | 
Sales Mix | 2019 | 2018 | %Change
Hardware | $622,949 | $653,499 | (5%)
Software | 753,729 | 736,509 | 2%
Services | 149,966 | 140,233 | 7%
 | $1,526,644 | $1,530,241 | —


Question: What is the change in Sales Mix of Hardware between 2018 and 2019?
Answer: -30550
Calculation: 622,949-653,499
19 Trade and other payables
Contract liabilities relate to advance payments received from customers which have not yet been recognised as revenue. £8.3m of the contract liabilities at 31st December 2018 was recognised as revenue during 2019 (2018: £3.0m).
Table:
 | 2019 | 2018
 | £m | £m
Trade payables | 57.9 | 57.4
Contract liabilities | 8.7 | 8.9
Social security | 5.6 | 5.1
Other payables | 37.8 | 37.6
Accruals | 64.8 | 58.0
Total trade and other payables | 174.8 | 167.0


Question: What are the components making up total trade and other payables?
Answer: Trade payables, Contract liabilities, Social security, Other payables, Accruals