hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
Annual Contract Value (“ACV”) (1) (2)
The change in ACV measures the growth and predictability of future cash flows from committed Pega Cloud and Client Cloud arrangements as of the end of the particular reporting period.
Total ACV, as of a given date, is the sum of the following two components:
• Client Cloud: the sum of (1) the annual value of each term license contract in effect on such date, which is equal to its total license value divided by the total number of years and (2) maintenance revenue reported for the quarter ended on such date, multiplied by four. We do not provide hosting services for Client Cloud arrangements.
• Pega Cloud: the sum of the annual value of each cloud contract in effect on such date, which is equal to its total value divided by the total number of years.
(1) Data Table
(2) As foreign currency exchange rates are an important factor in understanding period to period comparisons, we believe the presentation of ACV growth rates on a constant currency basis enhances the understanding of our results and evaluation of our performance in comparison to prior periods.
Table:
 | December 31, |  | Change |  | 
(Dollars in thousands) | 2019 | 2018 | Reported |  | Constant currency
Maintenance | $292,696 | $269,708 | $22,988 | 9% | 8%
Term | 231,267 | 190,349 | 40,918 | 21% | 21%
Client Cloud | 523,963 | 460,057 | 63,906 | 14% | 14%
Pega Cloud | 169,329 | 109,973 | 59,356 | 54% | 54%
Total ACV | $693,292 | $570,030 | $123,262 | 22% | 22%


Question: What is the percentage change in the maintenance values between 2018 and 2019?
Answer: 8.52
Calculation: (292,696 - 269,708)/269,708
Performance Share Units
The following table illustrates the number and WASP on date of award, and movements in, performance share units (“PSUs”) granted under the 2015 LTIP:
PSUs vest on one vesting date following a three year vesting period which will comprise three financial years. The awards are divided into three equal parts which will each be subject to a separate annual performance condition linked to the financial performance of the Group.
Table:
 | Year-ended 31 March 2019 |  | Year-ended 31 March 2018 | 
 | Number | WASP | Number | WASP
Performance share units | 000’s | £ pence | 000’s | £ pence
Outstanding at the start of the year | 7,546 | 269.65 | 6,024 | 219.41
Awarded | 1,721 | 506.74 | 1,719 | 440.50
Forfeited | (2,234) | 414.51 | (197) | 223.96
Released | (2,949) | 262.64 | – | –
Outstanding at the end of the year | 4,084 | 295.41 | 7,546 | 269.65


Question: Why are the PSU awards divided into three equal parts?
Answer: The awards are divided into three equal parts which will each be subject to a separate annual performance condition linked to the financial performance of the Group.
Note 3 − Property and Equipment
Our major classes of property and equipment were as follows:
Depreciation expense for the years ended December 31, 2019 and 2018 was $7, and $18, respectively.
Table:
 | December 31 | December 31
 | 2019 | 2018
Office furniture | $79 | $79
Computer equipment | 81 | 67
Total | 160 | 146
Less accumulated depreciation | (144) | (137)
Total property and equipment, net | $16 | $9


Question: What is the depreciation expense for 2019?
Answer: $7
NOTE 13 - TAXES ON INCOME (Cont.)
D. Loss from continuing operations, before taxes on income, consists of the following:
E. Due to the Company’s cumulative losses, the effect of ASC 740 as codified from ASC 740-10 is not material.
Table:
 | Year ended December 31 | 
 | 2019 | 2 0 1 8
 | U.S. $ in thousands | 
United States | (4,378) | (3,617)
Israel | (18,875) | (10,331)
 | (23,253) | (13,948)


Question: What is the percentage change in the total loss from continuing operations, before taxes on income, from 2018 to 2019?
Answer: 66.71
Calculation: (23,253-13,948)/13,948
During 2019, 2018 and 2017, no income tax benefit or expense was recorded for stock options exercised as an adjustment to equity.
The change in the unrecognized income tax benefits for the years ended December 31, 2019, 2018 and 2017 is reconciled below:
As of December 31, 2019, 2018 and 2017, our total liability for unrecognized tax benefits was $1.5 million, $1.9 million and $2.4 million, respectively, of which $1.4 million, $1.7 million and $2.2 million, respectively, would reduce our effective tax rate if we were successful in upholding all of the uncertain positions and recognized the amounts recorded. We classify interest and penalties recognized on the liability for unrecognized tax benefits as income tax expense. As of December 31, 2019, 2018 and 2017, the balances of accrued interest and penalties were $0.5 million, $0.7 million and $0.8 million, respectively.
We do not anticipate a single tax position generating a significant increase or decrease in our liability for unrecognized tax benefits within 12 months of this reporting date. We file income tax returns in the U.S. for federal and various state jurisdictions and several foreign jurisdictions. We are not currently under audit by the Internal Revenue Service. Generally, we are not subject to changes in income taxes by any taxing jurisdiction for the years prior to 2016.
Table:
(In thousands) | 2019 | 2018 | 2017
Balance at beginning of period | $1,868 | $2,366 | $2,226
Increases for tax position related to: |  |  | 
Prior years | — | 3 | 465
Current year | 161 | 254 | 285
Decreases for tax positions related to: |  |  | 
Prior years | (71) | — | (14)
Expiration of applicable statute of limitations | (471) | (755) | (596)
Balance at end of period | $1,487 | $1,868 | $2,366


Question: What does the table show?
Answer: change in the unrecognized income tax benefits for the years ended December 31, 2019, 2018 and 2017
a reconciliation of the beginning and ending amount of unrecognized tax benefits , for the periods indicated , is as follows: .

Table:
( dollars in thousands ) | 2010 | 2009 | 2008
balance at january 1 | $ 29010 | $ 34366 | $ 29132
additions based on tax positions related to the current year | 7119 | 6997 | 5234
additions for tax positions of prior years | - | - | -
reductions for tax positions of prior years | - | - | -
settlements with taxing authorities | -12356 ( 12356 ) | -12353 ( 12353 ) | -
lapses of applicable statutes of limitations | - | - | -
balance at december 31 | $ 23773 | $ 29010 | $ 34366
the entire amount of the unrecognized tax benefits would affect the effective tax rate if recognized .
in 2010 , the company favorably settled a 2003 and 2004 irs audit .
the company recorded a net overall tax benefit including accrued interest of $ 25920 thousand .
in addition , the company was also able to take down a $ 12356 thousand fin 48 reserve that had been established regarding the 2003 and 2004 irs audit .
the company is no longer subject to u.s .
federal , state and local or foreign income tax examinations by tax authorities for years before 2007 .
the company recognizes accrued interest related to net unrecognized tax benefits and penalties in income taxes .
during the years ended december 31 , 2010 , 2009 and 2008 , the company accrued and recognized a net expense ( benefit ) of approximately $ ( 9938 ) thousand , $ 1563 thousand and $ 2446 thousand , respectively , in interest and penalties .
included within the 2010 net expense ( benefit ) of $ ( 9938 ) thousand is $ ( 10591 ) thousand of accrued interest related to the 2003 and 2004 irs audit .
the company is not aware of any positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly increase or decrease within twelve months of the reporting date .
for u.s .
income tax purposes the company has foreign tax credit carryforwards of $ 55026 thousand that begin to expire in 2014 .
in addition , for u.s .
income tax purposes the company has $ 41693 thousand of alternative minimum tax credits that do not expire .
management believes that it is more likely than not that the company will realize the benefits of its net deferred tax assets and , accordingly , no valuation allowance has been recorded for the periods presented .
tax benefits of $ 629 thousand and $ 1714 thousand related to share-based compensation deductions for stock options exercised in 2010 and 2009 , respectively , are included within additional paid-in capital of the shareholders 2019 equity section of the consolidated balance sheets. .

Question: between 2008 and 2010 what was the ratio of the company accrued and recognized a net benefit to expenses
Answer: 2.48
Calculation: add(1563, 2446), divide(9938, #0)
Issuer purchases of equity securities
Common stock repurchased in the three months ended December 31, 2019:
(1) Shares withheld to cover the option exercise price and tax withholding obligations under the net settlement provisions of our stock compensation awards have been included in these amounts.
(2) See "Stock repurchase program" in Item 7 of this Annual Report for additional information.
Table:
(in thousands, except per share amounts) | Total Number of Shares Purchased (1) (2) | Average Price Paid per Share (1) (2) | Total Number of Shares Purchased as Part of Publicly Announced Share Repurchase Program (2) | Approximate Dollar Value of Shares That May Yet Be Purchased at Period End Under Publicly Announced Share Repurchased Programs (2)
October 1, 2019 - October 31, 2019 | 24 | $71.89 | 12 | $45,484
November 1, 2019 - November 30, 2019 | 108 | $75.63 | - | $45,484
December 1, 2019 - December 31, 2019 | 144 | $76.64 | - | $45,484
Total | 276 | $75.83 |  | 


Question: What are the respective number of shares purchased in October and November 2019?
Answer: 24, 108
Current assets of continuing operations decreased by €569 million compared to the previous year's figures to €7.8 billion (30/9/2018: €8.3 billion). Cash and cash equivalents in particular contributed to this development with a decrease of €407 million to €0.5 billion (30/9/2018: €0.9 billion).
1 Adjusted for effects of the discontinued business segment.
For more information about the development of current assets, see the notes to the consolidated financial statements in the numbers listed in the table.
Table:
€ million | Note no. | 30/9/2018 | 30/9/2018 adjusted1 | 30/9/2019
Current assets |  | 7,703 | 8,329 | 7,761
Inventories | 26 | 2,108 | 1,905 | 1,946
Trade receivables | 27 | 571 | 496 | 482
Financial assets |  | 1 | 1 | 4
Other financial and other non-financial assets | 24 | 913 | 796 | 881
Entitlements to income tax refunds |  | 206 | 202 | 190
Cash and cash equivalents | 29 | 1,298 | 906 | 500
Assets held for sale | 30,43 | 2,605 | 4,024 | 3,758


Question: What was the percentage change in Cash and cash equivalents in FY2019 from FY2018 adjusted?
Answer: -44.81
Calculation: (500-906)/906
Services provided by the Company’s auditors
During the year, the Group (including overseas subsidiaries) obtained the following services from the operating company’s auditors:
Table:
 | 2019 | 2018
 | £m | £m
Fees payable for the audit of the Company and consolidated financial statements | 0.1 | 0.1
Fees payable for other services: |  | 
– the audit of the subsidiary undertakings pursuant to legislation | 0.2 | 0.1
Total | 0.3 | 0.2


Question: What was the change in the total amount of fees payable in 2019 from 2018?
Answer: 0.1
Calculation: 0.3-0.2
Financial risk management
The Group’s treasury function centrally manages the Group’s funding requirement, net foreign exchange exposure, interest rate management exposures and counterparty risk arising from investments and derivatives.
Treasury operations are conducted within a framework of policies and guidelines authorised and reviewed by the Board, most recently in July 2018
A treasury risk committee comprising of the Group’s Chief Financial Officer, Group General Counsel and Company Secretary, Group Financial Controller, Group Treasury Director and Group Director of Financial Controlling and Operations meets three times a year to review treasury activities and its members receive management information relating to treasury activities on a quarterly basis. The Group’s accounting function, which does not report to the Group Treasury Director, provides regular update reports of treasury activity to the Board. The Group’s internal auditor reviews the internal control environment regularly.
The Group uses a number of derivative instruments for currency and interest rate risk management purposes only that are transacted by specialist treasury personnel. The Group mitigates banking sector credit risk by the use of collateral support agreements.
Credit risk
Credit risk is the risk that a counterparty will not meet its obligations under a financial asset leading to a financial loss for the Group. The Group is exposed to credit risk from its operating activities and from its financing activities, the Group considers its maximum exposure to credit risk at 31 March to be:
Expected credit loss
The Group has financial assets classified and measured at amortised cost and fair value through other comprehensive income that are subject to the expected credit loss model requirements of IFRS 9. Cash at bank and in hand and certain other investments are both classified and measured at amortised cost and subject to these impairment requirements. However, the identified expected credit loss is considered to be immaterial.
Information about expected credit losses for trade receivables and contract assets can be found under “operating activities” on page 164.
Table:
 | 2019 €m | 2018 €m
Cash at bank and in hand | 2,434 | 2,197
Repurchase agreements and bank deposits | 2,196 | –
Money market funds | 9,007 | 2,477
Managed investment funds | 6,405 | 3,891
Government securities | 3,011 | 1,974
Other investments | 4,418 | 6,087
Derivative financial instruments | 3,634 | 2,629
Trade receivables | 5,077 | 5,402
Contract assets and other receivables | 5,155 | 3,410
 | 41,337 | 28,067


Question: Between 2018 and 2019, which year had a greater amount of government securities?
Answer: 2019
Calculation: 3,011>1,974
A.5 Net assets position
Our total assets at the end of fiscal 2019 were influenced by positive currency translation effects of € 4.0 billion (mainly goodwill), primarily involving the U. S. dollar.
The increase in other current financial assets was driven by higher loans receivable at SFS, which were mainly due to new business and reclassification of non-current loans receivable from other financial assets. While higher loans receivable and receivables from finance leases from new business at SFS contributed also to growth in other financial assets, a large extent of the overall increase resulted from increased fair values of derivative financial instruments.
Inventories increased in several industrial businesses, with the build-up most evident at SGRE, Mobility and Siemens Healthineers.
Assets classified as held for disposal increased mainly due to reclassification of two investments from investments accounted for using the equity method.
The increase in goodwill included the acquisition of Mendix.
Deferred tax assets increased mainly due to income tax effects related to remeasurement of defined benefits plans.
The increase in other assets was driven mainly by higher net defined benefit assets from actuarial gains.
Table:
 |  | Sep 30, | 
(in millions of €) | 2019 | 2018 | % Change
Cash and cash equivalents | 12,391 | 11,066 | 12 %
Trade and other receivables | 18,894 | 18,455 | 2 %
Other current financial assets | 10,669 | 9,427 | 13 %
Contract assets | 10,309 | 8,912 | 16 %
Inventories | 14,806 | 13,885 | 7 %
Current income tax assets | 1,103 | 1,010 | 9 %
Other current assets | 1,960 | 1,707 | 15 %
Assets classified as held for disposal | 238 | 94 | 154 %
Total current assets | 70,370 | 64,556 | 9 %
Goodwill | 30,160 | 28,344 | 6 %
Other intangible assets | 9,800 | 10,131 | (3) %
Property, plant and equipment | 12,183 | 11,381 | 7 %
Investments accounted for using the equity method | 2,244 | 2,579 | (13) %
Other financial assets | 19,843 | 17,774 | 12 %
Deferred tax assets | 3,174 | 2,341 | 36 %
Other assets | 2,475 | 1,810 | 37 %
Total non-current assets | 79,878 | 74,359 | 7 %
Total assets | 150,248 | 138,915 | 8 %


Question: What caused the increase in the other financial assets?
Answer: The increase in other current financial assets was driven by higher loans receivable at SFS, which were mainly due to new business and reclassification of non-current loans receivable from other financial assets.
Greenhouse gas emissions
In line with the Companies Act 2006, Sophos is required to measure and report on its Greenhouse Gas (“GHG”) emissions disclosures. These have been calculated for the year-ending 31 March 2019, in line with the Group’s financial year. The calculation of the disclosures has been performed in accordance with Greenhouse Gas Protocol Corporate Standard and using the UK government’s conversion factor guidance for the year reported.
The Group’s operations that primarily release GHG includes usage of electricity and gas of owned and leased offices, business travel and usage of vehicles. The Group keeps its data capture process under review, seeking to extend the availability of direct information wherever possible. Where direct information for certain sites is not available, estimates have been developed that enable reporting for them. These estimates are revised if new or improved data is obtained.
The Group will continue to build its GHG reporting capabilities. The Group’s chosen intensity ratio is ‘tonnes of CO2 equivalent per million US dollars of billings’ as it aligns with Sophos’ strategic growth ambitions.
Creating an environmentally friendly HQ
The Group commissioned a greening study of its global headquarters in Abingdon, Oxfordshire. The purpose of the study was to benchmark the current environmental, health and wellbeing performance of the building against current best practice and against direct and indirect competitors.
The findings of the study showed that the building performance was consistent with intermediate good practice and the building management was consistent with standard good practice. The study highlighted areas of future improvement. The findings and recommendations of this report will be a key driver for developing best practice in environmental sustainability to match the growth aspirations and objectives of the Company.
The Group is endeavouring to achieve the standards in environmental performance, health and wellbeing that is expected of a global technology organisation at the Group’s headquarters.
Table:
 |  | Year-ended 31 March 2019 | Year-ended 31 March 2018 | Year-ended 31 March 2017
 |  | tCO2e | tCO2e | tCO2e
Scope 1 | Combustion of natural gas and operation of owned vehicles | 220.9 | 320.0 | 251.8
Scope 2 | Electricity consumption in offices | 4,487.2 | 4,457.3 | 4,681.9
Scope 3 | Business travel (air and car) | 3,260.9 | 5,117.4 | 4,510.9
Total |  | 7,969.0 | 9,894.7 | 9,444.6
Intensity ratio |  |  |  | 
tCO2e per $M of billings |  | 10.5 | 12.9 | 14.9


Question: In which year was the total Greenhouse gas emissions the largest?
Answer: 2018
Calculation: 9,894.7>9,444.6>7,969.0
Figure 31. 2019/2021 LTIP Award Grants
(1) The number of Market-based PRSUs awarded is reflected at target. The final number of shares that may be earned will be 0% to 150% of target.
(2) Mr. Anstice did not participate in the 2019/2021 LTIP because he terminated his employment with the Company as of December 5, 2018.
The independent members of the Board consulted with the committee and the committee’s compensation consultant to determine the appropriate amount and vesting schedule for Mr. Archer’s award. The independent members of the Board, on December 6, 2018, granted to Mr. Archer a $5,000,000 equity award consisting of 50% service-based RSUs and 50% stock options with a four-year vesting schedule, as shown below. No adjustment was made at that time to his annual base salary or his target award opportunities under the AIP or LTIP. These were adjusted to be competitive with CEOs in our peer group as part of the normal annual compensation review in February 2019.
In light of Mr. Bettinger’s critical role, his expanded responsibilities, and the intense competition in the technology industry for proven CFO talent, he received a special equity award on November 30, 2018. The committee consulted with its compensation consultant and with the Board to determine the amount and vesting schedule for the award. The committee granted to Mr. Bettinger a one-time service-based restricted stock unit (RSU) award with a nominal value of $8,000,000 and a four-year vesting schedule, as shown below.
Table:
Named Executive Officer (1)(2) | Target Award Opportunity ($) | Market-based PRSUs Award (#) | Stock Options Award (#) | Service-based RSUs Award (#)
Timothy M. Archer | 7,200,000 | 21,243 | 33,988 | 12,746
Douglas R. Bettinger | 2,700,000 | 7,966 | 12,744 | 4,779
Richard A. Gottscho | 2,250,000 | 6,638 | 10,620 | 3,983
Patrick J. Lord | 1,800,000 | 5,310 | 8,496 | 3,186
Vahid Vahedi | 1,575,000 | 4,647 | 7,432 | 2,788
Seshasayee (Sesha) Varadarajan | 1,575,000 | 4,647 | 7,432 | 2,788


Question: What did the committee grant Mr Bettinger?
Answer: a one-time service-based restricted stock unit (RSU) award with a nominal value of $8,000,000 and a four-year vesting schedule
Results of Operations
Historically, revenues and earnings may or may not be representative of future operating results due to various economic and other factors. The following table sets forth the Consolidated Statements of Operations for the periods indicated (amounts in thousands):
(1) Fiscal years ended March 31, 2018 and 2017 adjusted due to the adoption of ASC 606.
Table:
 |  | Fiscal Years Ended March 31, | 
 | 2019 | 2018 | 2017
Net sales (1) | $1,382,818 | $1,200,181 | $757,338
Operating costs and expenses: |  |  | 
Cost of sales (1) | 924,276 | 860,744 | 571,944
Selling, general and administrative expenses | 202,642 | 173,620 | 107,658
Research and development (1) | 44,612 | 39,114 | 26,693
Restructuring charges | 8,779 | 14,843 | 5,404
(Gain) loss on write down and disposal of long-lived assets | 1,660 | (992) | 10,671
Total operating costs and expenses | 1,181,969 | 1,087,329 | 722,370
Operating income (1) | 200,849 | 112,852 | 34,968
Non-operating (income) expense: |  |  | 
Interest income | (2,035) | (809) | (24)
Interest expense | 21,239 | 32,882 | 39,755
Acquisition (gain) loss | — | (130,880) | —
Change in value of TOKIN options | — | — | (10,700)
Other (income) expense, net (1) | 11,214 | 24,592 | (3,871)
Income before income taxes and equity income (loss) from equity method investments (1) | 170,431 | 187,067 | 9,808
Income tax expense (benefit) (1) | (39,460) | 9,132 | 4,294
Income before equity income (loss) from equity method investments (1) | 209,891 | 177,935 | 5,514
Equity income (loss) from equity method investments | (3,304) | 76,192 | 41,643
Net income (1) | $206,587 | $254,127 | $47,157


Question: How many years did net other (income) expense exceed $10,000 thousand?
Answer: 2
Calculation: 2019##2018