hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
Adjusted Return on Invested Capital (Adjusted RoIC): TORM defines Adjusted RoIC as earnings before interest and tax (EBIT) less tax and impairment losses and reversals, divided by the average invested capital less average impairment for the period. Invested capital is defined below.
The Adjusted RoIC expresses the returns generated on capital invested in the Group adjusted for impacts related to the impairment of the fleet. The progression of RoIC is used by TORM to measure progress against our longer-term value creation goals outlined to investors. Adjusted RoIC is calculated as follows:
¹⁾ Average invested capital is calculated as the average of the opening and closing balance of invested capital.
²⁾ Average impairment is calculated as the average of the opening and closing balances of impairment charges on vessels and goodwill in the balance sheet.
Table:
USDm | 2019 | 2018 | 2017
EBIT less Tax | 205.1 | 1.2 | 38.8
Impairment reversal | -120.0 | - | -
EBIT less tax and impairment | 85.1 | 1.2 | 38.8
Average invested capital¹⁾ | 1,627.7 | 1,437.7 | 1,396.9
Average impairment ²⁾ | 98.2 | 185.0 | 185.0
Average invested capital less average impairment | 1,725.9 | 1,622.7 | 1,581.9
Adjusted RoIC | 4.9% | 0.1% | 2.4%


Question: In which year was the Average invested capital less average impairment the largest?
Answer: 2019
Calculation: 1,725.9>1,622.7>1,581.9
3 Segmental reporting continued
Capital additions, depreciation, amortisation and impairment
Capital additions include property, plant and equipment of £59.0m (2018: £33.5m), of which £8.1m (2018: £0.2m) was from acquisitions in the period, and other intangible assets of £72.0m (2018: £19.0m) of which £60.2m (2018: £9.1m) relates to acquired intangibles from acquisitions in the period. Right-of-use asset additions of £48.9m occurred during the 12 month period to 31st December 2019, of which £36.1m relates to additions on 1st January 2019 as a result of transition to IFRS 16, £11.7m relates to new leases entered into in 2019 and £1.1m from acquisitions. Capital additions split between the UK and rest of the world are UK £36.8m (2018: £20.1m) and rest of the world £143.1m (2018: £32.4m).
Table:
 | 2019 | 2019 | 2018 | 2018
 | Capital additions | Depreciation, amortisation and impairment | Capital additions | Depreciation and amortisation
 | £m | £m | £m | £m
Steam Specialties | 57.7 | 35.8 | 27.9 | 30.1
Electric Thermal Solutions | 81.6 | 18.4 | 6.0 | 13.6
Watson-Marlow | 40.6 | 22.4 | 18.6 | 14.4
Group total | 179.9 | 76.6 | 52.5 | 58.1


Question: What are the businesses considered in the table?
Answer: Steam Specialties, Electric Thermal Solutions, Watson-Marlow
The components of the provision for income tax expense are as follows:
Included in the Company's current income tax expense are provisions for uncertain tax positions relating to freight taxes. The Company does not presently anticipate that its provisions for these uncertain tax positions will significantly increase in the next 12 months; however, this is dependent on the jurisdictions of the trading activity of its vessels.
The Company reviews its freight tax obligations on a regular basis and may update its assessment of its tax positions based on available information at the time. Such information may include legal advice as to the applicability of freight taxes in relevant jurisdictions. Freight tax regulations are subject to change and interpretation; therefore, the amounts recorded by the Company may change accordingly. The tax years 2008 through 2019 remain open to examination by some of the major jurisdictions in which the Company is subject to tax.
Table:
 | Year Ended | Year Ended | Year Ended
 | December 31, | December 31, | December 31,
 | 2019 | 2018 | 2017
 | $ | $ | $
Current | (25,563) | (17,458) | (11,997)
Deferred | 81 | (2,266) | (235)
Income tax expense | (25,482) | (19,724) | (12,232)


Question: What is the increase/ (decrease) in Deferred from December 31, 2019 to December 31, 2018?
Answer: -2185
Calculation: 81-2,266
A condensed summary of the Company’s financial information for equity-accounted investments (20% to 52%-owned) shown on a 100% basis (excluding the impact from purchase price adjustments arising from the acquisition of Joint Ventures) are as follows:
The results included for TIL are until its consolidation on November 27, 2017. The results included for Altera are from the date of deconsolidation on September 25, 2017 to the sale of Teekay's remaining interests on May 8, 2019.
For the year ended December 31, 2019, the Company recorded equity loss of $14.5 million (2018 – income of $61.1 million, and 2017 – loss of $37.3 million).
The equity loss in 2019 was primarily comprised of the write-down and loss on sale of Teekay's investment in Altera and the Company’s share of net loss from the Bahrain LNG Joint Venture; offset by equity income in the Yamal LNG Joint Venture, the RasGas III Joint Venture, the MALT Joint Venture, the Pan Union Joint Venture and the Angola Joint Venture.
For the year ended December 31, 2019, equity loss included $12.9 million related to the Company’s share of unrealized losses on interest rate swaps in the equity-accounted investments (2018 – gains of $17.6 million and 2017 – gains of $7.7 million).
Table:
 | As at December 31, | 
 | 2019 | 2018
 | $ | $
Cash and restricted cash | 379,085 | 568,843
Other assets – current | 148,663 | 412,388
Vessels and equipment, including vessels related to finance leases and advances on  Vessels and equipment, including vessels related to finance leases and advances on newbuilding contracts | 3,123,377 | 6,615,077
Net investment in direct financing leases | 4,469,861 | 3,000,927
Other assets – non-current | 169,925 | 1,957,271
Current portion of long-term debt and obligations related to finance leases | 563,776 | 1,106,812
Other liabilities – current | 189,165 | 563,862
Long-term debt and obligations related to finance leases | 5,156,307 | 6,882,426
Other liabilities – non-current | 243,301 | 478,311


Question: What did the equity loss comprise of in 2019?
Answer: comprised of the write-down and loss on sale of Teekay's investment in Altera and the Company’s share of net loss from the Bahrain LNG Joint Venture; offset by equity income in the Yamal LNG Joint Venture, the RasGas III Joint Venture, the MALT Joint Venture, the Pan Union Joint Venture and the Angola Joint Venture.
5.5 Other Operating Expense Items
Note: (1) The non-audit fees for the current financial year ended 31 March 2019 included S$0.4 million and S$0.2million paid to KPMG LLP, Singapore and KPMG, Australia in respect of tax services, certification and review for regulatory purposes. In the previous financial year, the non-audit fees included S$0.2 million and S$0.3 million paid to Deloitte & Touche LLP, Singapore, and Deloitte Touche Tohmatsu, Australia, respectively in respect of tax services, certification and review for regulatory purposes.
The Audit Committee had undertaken a review of the non-audit services provided by the auditors, KPMG LLP, and in the opinion of the Audit Committee, these services did not affect the independence of the auditors. The Audit Committee had undertaken a review of the non-audit services provided by the auditors, KPMG LLP, and in the opinion of the Audit Committee, these services did not affect the independence of the auditors.
Table:
 | Group | 
 | 2019 | 2018
 | S$ Mil | S$ Mil
Operating expenses included the following: |  | 
Auditors' remuneration |  | 
- KPMG LLP, Singapore | 2.4 | -
- KPMG, Australia | 1.2 | -
- Other KPMG offices | 1.3 | -
- Deloitte & Touche LLP, Singapore | - | 1.5
- Deloitte Touche Tohmatsu, Australia | - | 1.2
- Other Deloitte & Touche offices | - | 2.1
Non-audit fees (1) paid to |  | 
- KPMG LLP, Singapore | 0.4 | -
- KPMG, Australia | 0.4 | -
- Other KPMG offices | 0.1 | -
- Deloitte & Touche LLP, Singapore | - - | 0.3
- Deloitte Touche Tohmatsu, Australia | - | 0.3
- Other Deloitte & Touche offices | - | 0.2
Impairment of trade receivables | 121.8 | 128.0
Allowance for inventory obsolescence | 1.1 | 7.1
Operating lease payments | 437.2 | 470.7


Question: What is the average impairment of trade receivables across the 2 years?
Answer: 124.9
Calculation: (128 + 121.8)/2
6 Other assets (continued)
(a) Security deposits
Included in the security deposits was $8.8 million (2018: $4.2 million) relating to deposits held as security for bank guarantees.
(b) Customer incentives
Where customers are offered incentives in the form of free or discounted periods, the dollar value of the incentive is capitalised and amortised on a straight-line basis over the expected life of the contract.
(c) Contract Costs
From 1 July 2018, eligible costs that are expected to be recovered will be capitalised as a contract cost and amortised over the expected customer life.
Table:
NON-CURRENT | Note | 30 June 2019 $'000 | 30 June 2018 $'000
Customer incentives | 6(b) | 1,091 | 1,145
Capitalised transaction costs |  | 3,359 | 5,490
Contract costs | 6(c) | 448 | -
Total other assets - non-current |  | 4,898 | 6,635


Question: What was the percentage change in total other assets that are non-current between 2018 and 2019?
Answer: 35.46
Calculation: (6,635 - 4,898) / 4,898
Consolidated Revenues
Consolidated revenues increased $1.0 billion, or 0.8%, during 2019 compared to 2018, primarily due to an increase in revenues at our Consumer segment, partially offset by decreases in revenues at our Business segment and Corporate and other.
Revenues for our segments are discussed separately below under the heading “Segment Results of Operations.”
Corporate and other revenues decreased $124 million, or 1.2%, during 2019 compared to 2018, primarily due to a decrease of $232 million in revenues within Verizon Media.
Table:
 |  |  | (dollars in millions) Increase/(Decrease) | 
Years Ended December 31, | 2019 | 2018 | 2019 vs. 2018 | 
Consumer | $ 91,056 | $ 89,762 | $ 1,294 | 1.4%
Business  | 31,443 | 31,534 | (91) | (0.3)
Corporate and other  | 9,812 | 9,936 | (124) | (1.2)
Eliminations  | (443) | (369) | (74) | 20.1
Consolidated Revenues | $131,868 | $130,863 | $ 1,005 | 0.8


Question: What was the increase in the consolidated revenue from 2018 to 2019?
Answer: $1.0 billion
5.0 FY 2019 Financial Performance and Analysis
The discussions in this section relate to the consolidated, Rupee-denominated financial results pertaining to the year that ended March 31, 2019. The financial statements of Tata Consultancy Services Limited and its subsidiaries (collectively referred to as ‘TCS’ or ‘the Company’) are prepared in accordance with the Indian Accounting Standards (referred to as ‘Ind AS’) prescribed under section 133 of the Companies Act, 2013, read with the Companies (Indian Accounting Standards) Rules, as amended from time to time. Significant accounting policies used in the preparation of the financial statements are disclosed in the notes to the consolidated financial statements.
The following table gives an overview of the consolidated financial results of the Company:
* EPS is adjusted for bonus issue
Table:
 |  |  |  |  | ` crore
 | FY 2019 | % of Revenue | % Growth | FY 2018 | % of Revenue
Revenue | 146,463 | 100.0 | 19.0 | 123,104 | 100.0
Earnings before interest, tax, depreciation and amortization (before other income) | 39,506 | 27.0 | 21.5 | 32,516 | 26.4
Profit Before Tax (PBT) | 41,563 | 28.4 | 21.9 | 34,092 | 27.7
Profit after tax attributable to shareholders of the Company | 31,472 | 21.5 | 21.9 | 25,826 | 21.0
Earnings per share (in `) | 83.05 | - | 23.8 | 67.10* | -


Question: What is the EPS in FY 2019?
Answer: 83.05
DEVELOPMENT OF EMPLOYEE NUMBERS BY SEGMENTS
Full-time equivalents1 as of the closing date of 30/9
1 Excluding METRO China.
Table:
 | 2018 | 2019
METRO | 86,239 | 82,979
METRO Germany | 11,816 | 11,760
METRO Western Europe (excl.Germany) | 24,073 | 24,044
METRO Russia | 13,884 | 12,288
METRO Eastern Europe (excl.Russia) | 28,264 | 27,589
METRO Asia | 8,202 | 7,298
Others | 6,916 | 7,067
METROAG | 863 | 837
Total | 94,018 | 90,883


Question: In which year was the amount for METRO AG larger?
Answer: 2018
Calculation: 863>837
FINANCIAL EXPENSE
(1) Fiscal 2018 was restated to reclassify results from Cogeco Peer 1 as discontinued operations. For further details, please consult the "Discontinued operations" section.
Fiscal 2019 fourth-quarter financial expense decreased by 15.2% mainly due to: • the reimbursements of $65 million and US$35 million under the Canadian Revolving Facility during the second quarter of fiscal 2019 and of US$328 million during the third quarter of fiscal 2019 following the sale of Cogeco Peer 1; and • lower debt outstanding and interest rates on the First Lien Credit Facilities; party offset by • the appreciation of the US dollar against the Canadian dollar compared to same period of the prior year.
Table:
Three months ended August 31, | 2019 | 2018 (1) | Change
(in thousands of dollars, except percentages) | $ | $ | %
Interest on long-term debt | 41,307 | 46,127 | (10.4)
Net foreign exchange losses (gains) | (403) | 482 | —
Amortization of deferred transaction costs | 464 | 441 | 5.2
Capitalized borrowing costs | (168) | (162) | 3.7
Other | (763) | 821 | —
 | 40,437 | 47,709 | (15.2)


Question: What was the average Amortization of deferred transaction costs from 2018 to 2019?
Answer: 452.5
Calculation: (464 + 441) / 2
The Company’s estimated future benefit payments as of December 31, 2019 are as follows:
The Company has certain defined contribution plans, which accrue benefits for employees on a pro-rata basis during their employment period based on their individual salaries. The Company’s accrued benefits related to defined contribution pension plans of $20 million as of December 31, 2019 and $18 million as of December 31, 2018. The annual cost of these plans amounted to approximately $86 million in 2019, $84 million in 2018 and $77 million in 2017.
Table:
Years | Pension Benefits | Other Long Term Benefits
2020 | 32 | 7
2021 | 29 | 7
2022 | 32 | 5
2023 | 41 | 6
2024 | 51 | 9
From 2025 to 2029 | 272 | 35


Question: What was the annual cost of contribution pension plans in 2019?
Answer: $86 million
Charges made to the consolidated income statement and consolidated statement of comprehensive income (‘SOCI’) on the basis of the assumptions stated above are:
Note: 1 Following a High Court judgement on 21 October 2018 which concluded that defined benefit schemes should equalise pension benefits for men and women in relation to guaranteed minimum pension (‘GMP’) benefits the Group has recorded a pre-tax past service cost of €16 million (£14 million) in the year ended 31 March 2019.
Table:
 | 2019 €m | 2018 €m | 2017 €m
Current service cost | 31 | 34 | 43
Past service costs1 | 16 | 2 | (27)
Net interest charge | 10 | 8 | 4
Total included within staff costs | 57 | 44 | 20
Actuarial losses recognised in the SOCI | 33 | 94 | 274


Question: What is the change between 2018 and 2019 average actuarial losses recognised in the SOCI?
Answer: -120.5
Calculation: [(33+94)/2] - [(94+274)/2]
Cash, Cash Equivalents and Restricted Cash
As of December 31, 2019, the Company had $259.1 million of cash and cash equivalents. Cash and cash equivalents include liquid investments, primarily money market funds, with maturities of less than 90 days at the time of purchase. Management determines the appropriate classification of its investments at the time of purchase and at each balance sheet date.
As of December 31, 2019 and December 31, 2018, the Company had restricted cash of $0.3 million, representing the amount pledged as collateral to the issuer of a standby letter of credit (the “LC”). The LC, which expires in August 2021, has been provided as a guaranty to the lessor of our corporate offices.
The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balance sheet to the consolidated statement of cash flows (in thousands):
Table:
 | December 31, | 
 | 2019 | 2018
Cash and cash equivalents | $259,067 | $256,947
Restricted cash included in other assets | 304 | 304
Cash, cash equivalents and restricted cash shown in the statement of cash flows | $259,371 | $257,251


Question: What are the respective cash and cash equivalents in 2018 and 2019?
Answer: $256,947, $259,067
SUPERVISORY BOARD
The following table sets forth information concerning all remuneration (base compensation, no bonuses or pensions were paid) from the Company (including its subsidiaries) for services in all capacities to all current and former members of the Supervisory Board of the Company:
1 Period January 1 to May 28, 2018
2 Period as of May 28, 2018
The remuneration of members of the Supervisory Board has been determined by the 2018 Annual General Meeting of Shareholders.
No stock options or performance shares have been granted to members of the Supervisory Board.
Table:
 | Year ended  December 31 | 
 | 2018 | 2019
Supervisory Board: |  | 
J.C. Lobbezoo | 78.6 | 83.5
H.W. Kreutzer 1) | 21.4 | 0.0
M.C.J. van Pernis | 56.0 | 58.5
U.H.R. Schumacher | 53.5 | 56.0
S. Kahle-Galonske | 55.9 | 60.0
M.J.C. de Jong 2) | 34.0 | 57.5
TOTAL | 299.4 | 315.5


Question: Who are the members of the Supervisory board?
Answer: J.C. Lobbezoo, H.W. Kreutzer, M.C.J. van Pernis, U.H.R. Schumacher, S. Kahle-Galonske, M.J.C. de Jong
16. Earnings Per Share
The weighted-average number of shares outstanding used in the computations of basic and diluted earnings per share were as follows:
Table:
 |  | Fiscal | 
 | 2019 | 2018 | 2017
 |  | (in millions) | 
Basic | 338 | 350 | 355
Dilutive impact of share-based compensation arrangements | 2 | 3 | 3
Diluted | 340 | 353 | 358


Question: What are the types of earnings per share analyzed in the table?
Answer: Basic, Diluted
10 Taxation (continued)
There are unrecognised deferred tax assets on the following temporary differences (presented below before the application of the relevant tax rate) due to uncertainty over the level of profits in the non-REIT elements of the Group in future periods:
The Company recognises no deferred tax asset or liability (2018: nil).
Table:
£m | 2019 | 2018
Revenue losses – UK | 398.4 | 300.8
Capital losses – UK | 34.5 | 34.2
Derivative financial instruments | 172.7 | 184.9
Other temporary differences | 20.1 | 9.7
Total unrecognised temporary differences | 625.7 | 529.6


Question: What is the percentage change in the total unrecognised temporary differences from 2018 to 2019?
Answer: 18.15
Calculation: (625.7-529.6)/529.6
Estimated Future Benefit Payments
The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid. Pension benefits are currently paid from plan assets and other benefits are currently paid from corporate assets.
Table:
($ in millions) | Pension Benefits | Other Benefits
2020 | $83.0 | $14.7
2021 | $82.4 | $15.1
2022 | $82.6 | $15.1
2023 | $82.4 | $15.1
2024 | $81.8 | $15.1
2025-2029 | $395.5 | $73.1


Question: What was the percentage change in the amount under other benefits in 2021 from 2020?
Answer: 2.72
Calculation: (15.1-14.7)/14.7
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 total incremental costs of obtaining a contract and contract fulfillment costs in 2018 and 2019?
Answer: 1169
Calculation: 602+567
Fair Value of Financial Instruments
The following table summarizes our financial assets and liabilities measured at fair value on a recurring basis (in millions):
(1) Reported as other current assets in the consolidated balance sheets
(2) Reported as other non-current assets in the consolidated balance sheets
(3) Reported as accrued expenses in the consolidated balance sheets
Table:
 |  | April 26, 2019 | 
 |  | Fair Value Measurements at Reporting Date Using | 
 | Total | Level 1 | Level 2
Cash | $ 2,216 | $  2,216 | $  —
Corporate bonds | 1,353 | — | 1,353
U.S. Treasury and government debt securities | 213 | 131 | 82
Certificates of deposit | 117 | — | 117
Total cash, cash equivalents and short-term investments | $ 3,899 | $ 2,347 | $ 1,552
Other items: |  |  | 
Mutual funds (1) | $ 6 | $  6 | $  —
Mutual funds (2) | $ 29 | $  29 | $  —
Foreign currency exchange contracts assets (1) | $ 4 | $  — | $ 4
Foreign currency exchange contracts liabilities (3) | (1 ) | $  — | (1 )


Question: What was the fair value measurements using Level 2 for Corporate Bonds?
Answer: 1,353
INTEREST EXPENSE
The components of interest expense are as follows:
Interest expense, including administrative and other fees, was $25,633 for 2019 compared with $30,890 in 2018. The decrease in interest expense was primarily associated with the impact of the refinancing of our term loan at the end of 2018 and interest capitalized during 2019 due to vessels under construction.
Table:
 | Years Ended December 31, | 
 | 2019 | 2018
Interest before impact of interest rate caps | $25,633 | $30,709
Impact of interest rate caps | — | 181
Interest expense | $25,633 | $30,890


Question: What led to the decrease in interest expense?
Answer: primarily associated with the impact of the refinancing of our term loan at the end of 2018 and interest capitalized during 2019 due to vessels under construction.
have access to liquidity by issuing bonds to public or private investors based on our assessment of the current condition of the credit markets . at december 31 , 2009 , we had a working capital surplus of approximately $ 1.0 billion , which reflects our decision to maintain additional cash reserves to enhance liquidity in response to difficult economic conditions . at december 31 , 2008 , we had a working capital deficit of approximately $ 100 million . historically , we have had a working capital deficit , which is common in our industry and does not indicate a lack of liquidity . we maintain adequate resources and , when necessary , have access to capital to meet any daily and short-term cash requirements , and we have sufficient financial capacity to satisfy our current liabilities . cash flows millions of dollars 2009 2008 2007 .

Table:
millions of dollars | 2009 | 2008 | 2007
cash provided by operating activities | $ 3234 | $ 4070 | $ 3277
cash used in investing activities | -2175 ( 2175 ) | -2764 ( 2764 ) | -2426 ( 2426 )
cash used in financing activities | -458 ( 458 ) | -935 ( 935 ) | -800 ( 800 )
net change in cash and cash equivalents | $ 601 | $ 371 | $ 51
operating activities lower net income in 2009 , a reduction of $ 184 million in the outstanding balance of our accounts receivable securitization program , higher pension contributions of $ 72 million , and changes to working capital combined to decrease cash provided by operating activities compared to 2008 .
higher net income and changes in working capital combined to increase cash provided by operating activities in 2008 compared to 2007 .
in addition , accelerated tax deductions enacted in 2008 on certain new operating assets resulted in lower income tax payments in 2008 versus 2007 .
voluntary pension contributions in 2008 totaling $ 200 million and other pension contributions of $ 8 million partially offset the year-over-year increase versus 2007 .
investing activities lower capital investments and higher proceeds from asset sales drove the decrease in cash used in investing activities in 2009 versus 2008 .
increased capital investments and lower proceeds from asset sales drove the increase in cash used in investing activities in 2008 compared to 2007. .

Question: what was the percentage change in cash provided by operating activities from 2008 to 2009?
Answer: -21%
Calculation: subtract(3234, 4070), divide(#0, 4070)