hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
Stock Option Activity - The weighted-average fair value of options granted during the years ended December 31, 2019, 2018 and 2017, as determined under the Black-Scholes-Merton valuation model, was $12.07, $10.42 and $6.75, respectively. Option grants that vested during the years ended December 31, 2019, 2018 and 2017 had a combined fair value of $2.5 million, $1.5 million and $1.7 million, respectively.
The following table summarizes stock option activity for the years ended December 31, 2019, 2018 and 2017:
Table:
 | Number of Shares | Weighted Average Exercise Price | Aggregate Intrinsic Value (in thousands) | Weighted Average Remaining Contractual Life
Stock options outstanding at December 31, 2016 | 1,160,419 | $29.93 | $14,299 | 
Granted | 534,030 | $42.90 |  | 
Exercised | (463,800) | $29.34 | $7,203 | 
Cancelled and expired | (61,241) | $33.80 |  | 
Stock options outstanding at December 31, 2017 | 1,169,408 | $35.88 | $16,731 | 
Granted | 466,828 | $54.87 |  | 
Exercised | (420,524) | $30.05 | $12,411 | 
Cancelled and expired | (122,312) | $43.85 |  | 
Stock options outstanding at December 31, 2018 | 1,093,400 | $45.34 | $8,776 | 
Granted | 489,947 | $63.87 |  | 
Exercised | (338,748) | $37.94 | $9,641 | 
Cancelled and expired | (108,504) | $51.21 |  | 
Stock options outstanding at December 31, 2019 | 1,136,095 | $54.98 | $28,291 | 4 years
Stock options exercisable at December 31, 2019 | 290,540 | $44.90 | $10,163 | 3 years


Question: What is the total price of stock options exercised or canceled and expired during the period between December 31, 2018, and 2019?
Answer: 18408588.96
Calculation: (338,748*37.94)+(108,504*51.21)
22. Income Taxes
Teekay and a majority of its subsidiaries are not subject to income tax in the jurisdictions in which they are incorporated because they do not conduct business or operate in those jurisdictions. However, among others, the Company’s U.K. and Norwegian subsidiaries are subject to income taxes.
The significant components of the Company’s deferred tax assets and liabilities are as follows:
(1) Substantially all of the Company's estimated net operating loss carryforwards of $878.3 million relates primarily to its U.K., Spanish, Norwegian and Luxembourg subsidiaries and, to a lesser extent, to its Australian subsidiaries.
The Company had estimated disallowed finance costs in Spain and Norway of approximately $15.1 million and $15.0 million, respectively, at December 31, 2019, which are available for 18 years and 10 years, respectively, from the year the costs are incurred for offset against future taxable income in Spain and Norway, respectively. The Company's estimated tax losses in Luxembourg are available for offset against taxable future income in Luxembourg, either indefinitely for losses arising prior to 2017, or for 17 years for losses arising subsequent to 2016.
Table:
 | December 31, | December 31,
 | 2019 | 2018
 | $ | $
Deferred tax assets: |  | 
Vessels and equipment | 1,646 | 5,868
Tax losses carried forward and disallowed finance costs (1) | 164,009 | 155,910
Other | 19,674 | 10,545
Total deferred tax assets | 185,329 | 172,323
Deferred tax liabilities: |  | 
Vessels and equipment | 22,913 | 18,037
Provisions | 6,512 | 5,588
Other | — | 2,060
Total deferred tax liabilities | 29,425 | 25,685
Net deferred tax assets | 155,904 | 146,638
Valuation allowance | (153,302) | (144,560)
Net deferred tax assets | 2,602 | 2,078


Question: Which subsidiaries are related to  net operating loss carryforwards of $878.3 million?
Answer: Company's estimated net operating loss carryforwards of $878.3 million relates primarily to its U.K., Spanish, Norwegian and Luxembourg subsidiaries and, to a lesser extent, to its Australian subsidiaries.
Reconciliations of total segment net revenues and total segment operating income to consolidated net revenues and consolidated income before income tax expense are presented in the table below (amounts in millions):
(1) Includes other income and expenses from operating segments managed outside the reportable segments, including our Distribution business. Also includes unallocated corporate income and expenses.
(2) Since certain of our games are hosted online or include significant online functionality that represents a separate performance obligation, we defer the transaction price allocable to the online functionality from the sale of these games and then recognize the attributable revenues over the relevant estimated service periods, which are generally less than a year. The related cost of revenues is deferred and recognized as an expense as the related revenues are recognized. This table reflects the net effect from the deferrals of revenues and recognition of deferred revenues, along with the related cost of revenues, on certain of our online enabled products.
(3) Intersegment revenues reflect licensing and service fees charged between segments.
(4) Reflects restructuring initiatives, which include severance and other restructuring-related costs.
(5) Reflects the impact of other unusual or unique tax‑related items and activities.
Table:
 | For the Years Ended December 31, | 
 | 2019 | 2018
Reconciliation to consolidated net revenues: |  | 
Segment net revenues | $5,969 | $6,835
Revenues from non-reportable segments (1) | 462 | 480
Net effect from recognition (deferral) of deferred net revenues (2) | 101 | 238
Elimination of intersegment revenues (3) | (43) | (53)
Consolidated net revenues | $6,489 | $7,500
Reconciliation to consolidated income before income tax expense: |  | 
Segment operating income | $2,054 | $2,446
Operating income (loss) from non-reportable segments (1) | 24 | 31
Net effect from recognition (deferral) of deferred net revenues and related cost of revenues (2) | 52 | 100
Share-based compensation expense | (166) | (209)
Amortization of intangible assets | (203) | (370)
Restructuring and related costs (4) | (137) | (10)
Discrete tax-related items (5) | (17) | —
Consolidated operating income | 1,607 | 1,988
Interest and other expense (income), net | (26) | 71
Loss on extinguishment of debt | — | 40
Consolidated income before income tax expense | $1,633 | $1,877


Question: What is the percentage change in segment operating income between 2018 and 2019?
Answer: -16.03
Calculation: ($2,054-$2,446)/$2,446
24. EARNINGS PER SHARE
The following table set forth the computation for basic and diluted net income (loss) per share of common stock (in thousands, except per share data):
As of September 27, 2019, we had warrants outstanding which were reported as a liability on the consolidated balance sheet. During fiscal years 2019 and 2018, we recorded gains of $0.8 million and $27.6 million, respectively, associated with adjusting the fair value of the warrants, in the Consolidated Statements of Operations primarily as a result of declines in our stock price.
When calculating earnings per share we are required to adjust for the dilutive effect of outstanding common stock equivalents, including adjustment to the numerator for the dilutive effect of contracts that must be settled in common stock. During the fiscal year ended September 27, 2019, we excluded the effects of the warrant gain and the 214,303 of potential shares of common stock issuable upon exercise of warrants as the inclusion would be anti-dilutive.
During the fiscal year ended September 28, 2018, we adjusted the numerator to exclude the warrant gain $27.6 million, and we also adjusted the denominator for the dilutive effect of the incremental warrant shares of 569,667 under the treasury stock method. For the fiscal years 2018, the table above excludes the effects of 375,940 shares of potential shares of common stock issuable upon exercise of stock options, restricted stock and restricted stock units as the inclusion would be anti-dilutive.
The table excludes the effects of 386,552 and 1,877,401 shares for fiscal years 2019 and 2017, respectively, of potential shares of common stock issuable upon exercise of stock options, restricted stock, restricted stock units and warrants as the inclusion would be anti-dilutive.
Table:
 |  | Fiscal Years | 
 | 2019 | 2018 | 2017
Numerator:      |  |  | 
Loss from continuing operations | $(383,798) | $(133,762) | $(150,416)
Loss from discontinued operations | — | (6,215) | (19,077)
Net loss | (383,798) | (139,977) | (169,493)
Warrant liability gain | — | (27,646) | —
Net loss attributable to common stockholders | $(383,798) | $(167,623) | $(169,493)
Denominator:      |  |  | 
Weighted average common shares outstanding-basic | 65,686 | 64,741 | 60,704
Dilutive effect of warrants | — | 570 | —
Weighted average common shares outstanding-diluted | 65,686 | 65,311 | 60,704
Common stock earnings per share-basic:      |  |  | 
Continuing operations | $(5.84) | $(2.07) | $(2.48)
Discontinued operations | — | (0.10) | (0.31)
Net common stock earnings per share-basic | $(5.84) | $(2.16) | $(2.79)
Common stock earnings per share-diluted: |  |  | 
Continuing operations | $(5.84) | $(2.47) | $(2.48)
Discontinued operations | — | (0.10) | (0.31)
Net common stock earnings per share-diluted | $(5.84) | $(2.57) | $(2.79)


Question: What were the respective gains in 2019 and 2018?
Answer: $0.8 million, $27.6 million
Other (Income) and Expense
NM—Not meaningful
Total consolidated other (income) and expense was income of $968 million in 2019 compared to expense of $1,152 million in 2018. The year-to-year change was primarily driven by: • Lower non-operating retirement-related costs ($957 million). Refer to “Retirement-Related Plans” for additional information. • Higher gains from divestitures ($833 million) reflected in Other; and • Higher net exchange gains (including derivative instruments) ($272 million). The company’s hedging programs help mitigate currency impacts in the Consolidated Income Statement.
Operating (non-GAAP) other (income) and expense was $1,431 million of income in 2019 and increased $1,010 million compared to the prior-year period. The year-to-year change was primarily driven by the same factors excluding lower non-operating retirement-related costs.
Table:
($ in millions) |  |  | 
For the year ended December 31: | 2019 | 2018 | Yr.-to-Yr. Percent Change
Other (income) and expense |  |  | 
Foreign currency transaction losses/(gains) | $(279) | $(427) | (34.6)%
(Gains)/losses on derivative instruments | 15 | 434 | (96.6)
Interest income | (349) | (264) | 32.2
Net (gains)/losses from securities and investment assets | (32) | (101) | (67.9)
Retirement-related costs/(income) | 615 | 1,572 | (60.9)
Other | (937) | (63) | NM
Total consolidated other (income) and expense | $(968) | $1,152 | NM
Non-operating adjustments |  |  | 
Amortization of acquired intangible assets | (2) | (2) | 50.0%
Acquisition-related charges | 154 | 0 | NM
Non-operating retirement related costs/(income) | (615) | (1,572) | (60.9)%
Operating (non-GAAP) other (income) and expense | $(1,431) | $(422) | 239.4%


Question: What caused the Operating (non-GAAP) other (income) and expense to increase?
Answer: The year-to-year change was primarily driven by the same factors excluding lower non-operating retirement-related costs.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (in thousands, except for share and per share data)
NOTE 8 — Costs Associated with Exit and Restructuring Activities
2016 Plan
In June 2016, we announced plans to restructure operations by phasing out production at our Elkhart, IN facility and transitioning it into a research and development center supporting our global operations ("June 2016 Plan"). Additional organizational changes were also implemented in various other locations. In 2017, we revised this plan to include an additional $1,100 in planned costs related to the relocation of our corporate headquarters in Lisle, IL and our plant in Bolingbrook, IL, both of which have now been consolidated into a single facility. Restructuring charges under this plan, which is substantially complete, were $4,284, $4,559, and $4,139 during the years ended December 31, 2019, 2018, and 2017, respectively. The total restructuring liability related to the June 2016 Plan was $233 and $668 at December 31, 2019 and 2018, respectively. Any additional costs related to line movements, equipment charges, and other costs will be expensed as incurred.
The following table displays the restructuring charges associated with the June 2016 Plan as well as a summary of the actual costs incurred through December 31, 2019:
(1) Other charges include the effects of currency translation, travel, legal and other charges.
Table:
June 2016 Plan | Planned Costs | Actual costs incurred through December 31, 2019
Workforce reduction | $3,075 | $3,340
Building and equipment relocation | 9,025 | 10,534
Asset impairment charge | — | 1,168
Other charges (1) | 1,300 | 988
Restructuring charges | $13,400 | $16,030


Question: What was the actual amount of Building and Equipment Relocation costs?
Answer: 10,534
The reconciliation of the Company’s effective tax rate to the statutory federal rate is as follows:
(1) For the years ended December 31, 2019 and December 31, 2018, this is inclusive of (3.4%) and (3.8%) impact, respectively, that is primarily related to the change in uncertain tax positions.
For 2019, the Company recorded an expense for income taxes of $11.6 million, resulting in an effective tax rate of (3.8)%. The effective tax rate is different than the U.S. statutory federal tax rate primarily due to stock-based compensation expense following the decision in Altera Corp v. Commissioner by the U.S. Court of Appeals for the Ninth Circuit discussed below, the full valuation allowance on the Company's U.S. deferred tax assets, the mix of income/losses among the Company’s foreign jurisdictions, and pretax losses in jurisdictions for which no tax benefit will be recognized.
Table:
 |  | Year Ended December 31, | 
 | 2019 | 2018 | 2017
Tax at federal statutory rate | 21.0 % | 21.0 % | 35.0 %
State taxes, net of federal effect | (0.3) | (0.1) | (5.4)
Foreign rate differential | (6.0) | (3.9) | (9.3)
Tax credits | 1.6 | 6.3 | 4.1
Domestic production activities deduction | — | — | (3.5)
Stock-based compensation | (1.0) | (4.9) | (5.3)
Change in prior year reserves | (1.5) | (0.1) | (2.0)
Change in valuation allowance | (13.4) | (15.2) | (35.2)
Effect of change in tax rate due to Tax Act | — | — | (23.4)
Other (1) | (4.2) | (4.0) | 2.6
Effective tax rate | (3.8)% | (0.9)% | (42.4)%


Question: What is the effective tax rate in 2017?
Answer: (42.4)%
Free cashflow
The Group achieved another year of strong cashflow performance with operating cashflow for FY19 of $836.3m again exceeding EBITDA. Tax payments in FY19 were significantly lower than the prior year because FY18 included tax paid on the capital gain realised on the sale of investments in FY17.
Capital expenditure
Business as usual (‘BAU’) capital expenditure of $198.7m was $59.3m lower than last year principally due to the substantial completion in the prior year of the build for the VHA fibre contract.
Mobile spectrum capex of $352.4m in FY19 reflects the payment during the year of the second instalment for the Australian 700MHz spectrum acquired at auction in April 2017. The first instalment of $597.3m was paid in FY18 and the third and final instalment of $352.4m is payable in January 2020. A further $86.1m of capex was also incurred in FY19 in relation to the Australian mobile network rollout up until the project ceased. This expenditure on spectrum and mobile assets in Australia was partly impaired as part of the impairment review that was undertaken following the cessation of the project as described above.
Capex for the mobile network build in Singapore in FY19 was $80.1m taking the aggregate capex incurred on the project up to $147m (excluding spectrum).
Table:
 | FY19 | FY18
 | $m | $m
Operating cashflow | 836.3 | 868.3
Tax | (128.6) | (194.5)
IRU / finance lease payments | (5.5) | (34.1)
Capex - BAU | (198.7) | (258.0)
Capex - mobile spectrum | (352.4) | (597.3)
Capex - mobile networks (Aus) | (86.1) | (38.7)
Capex - mobile networks (Sg) | (80.1) | (62.3)
Free cashflow | (15.1) | (316.6)


Question: What is the percentage change of free cashflow from FY18 to FY19?
Answer: -95.23
Calculation: (15.1 - 316.6) / 316.6
Auditor Service Fees
The aggregate amounts paid or accrued by the Company with respect to fees payable to PricewaterhouseCoopers LLP, the auditors of the Company, for audit (including separate audits of wholly-owned and non-wholly owned entities, financings, regulatory reporting requirements and SOX related services), audit-related, tax and other services in the years ended December 31, 2019 and 2018 were as follows:
Audit fees relate to the audit of our annual consolidated financial statements, the review of our quarterly condensed consolidated financial statements and services in connection with our 2019 and 2018 public offerings of Class A subordinate voting shares
Audit-related fees consist of aggregate fees for accounting consultations and other services that were reasonably related to the performance of audits or reviews of our consolidated financial statements and were not reported above under "Audit Fees".
Tax fees relate to assistance with tax compliance, expatriate tax return preparation, tax planning and various tax advisory services.
Other fees are any additional amounts for products and services provided by the principal accountants other than the services reported above under "Audit Fees", "Audit-Related Fees" and "Tax Fees".
Table:
 | Fiscal 2019 | Fiscal 2018
 | $ | $
 | (in thousands) | 
Audit Fees | 1,133 | 764
Audit-Related Fees | — | —
Tax Fees | — | —
All Other Fees | 3 | 2
Total | 1,136 | 766


Question: Which financial years' information is shown in the table?
Answer: 2018, 2019
B. Business Overview
Our Fleet
Our fleet currently consists of 23 Suezmax crude oil tankers, of which the vast majority have been built in Korea. The majority of our vessels are employed in the spot market, together with one vessel currently on a longer term time charter agreement expiring in 2021 or later. The vessels are considered homogenous and interchangeable as they have approximately the same freight capacity and ability to transport the same type of cargo.
Table:
Vessel | Built in  | Deadweight Tons   | Delivered to NAT in
Nordic Freedom | 2005 | 159,331 | 2005
Nordic Moon | 2002 | 160,305 | 2006
Nordic Apollo | 2003 | 159,998 | 2006
Nordic Cosmos | 2003 | 159,999 | 2006
Nordic Grace | 2002 | 149,921 | 2009
Nordic Mistral | 2002 | 164,236 | 2009
Nordic Passat | 2002 | 164,274 | 2010
Nordic Vega | 2010 | 163,940 | 2010
Nordic Breeze | 2011 | 158,597 | 2011
Nordic Zenith | 2011 | 158,645 | 2011
Nordic Sprinter | 2005 | 159,089 | 2014
Nordic Skier | 2005 | 159,089 | 2014
Nordic Light | 2010 | 158,475 | 2015
Nordic Cross | 2010 | 158,475 | 2015
Nordic Luna | 2004 | 150,037 | 2016
Nordic Castor | 2004 | 150,249 | 2016
Nordic Sirius | 2000 | 150,183 | 2016
Nordic Pollux | 2003 | 150,103 | 2016
Nordic Star | 2016 | 159,000 | 2016
Nordic Space | 2017 | 159,000 | 2017
Nordic Aquarius | 2018 | 157,000 | 2018
Nordic Cygnus | 2018 | 157,000 | 2018
Nordic Tellus | 2018 | 157,000 | 2018


Question: What is the the respective years in which Nordic Freedom was built and delivered to NAT?
Answer: 2005, 2005
Note 5: Equity-based Compensation Plans
The Company has stock plans that provide for grants of equity-based awards to eligible participants, including stock options and restricted stock units, of the Company’s Common Stock. An option is a right to purchase Common Stock at a set price. An RSU award is an agreement to issue a set number of shares of Common Stock at the time of vesting. The Company’s options and RSU awards typically vest over a period of three years or less. The Company also has an employee stock purchase plan that allows employees to purchase its Common Stock at a discount through payroll deductions.
The Lam Research Corporation 2007 Stock Incentive Plan, as amended and restated, 2011 Stock Incentive Plan, as amended and restated, and the 2015 Stock Incentive Plan (collectively the “Stock Plans”), provide for the grant of non-qualified equity-based awards to eligible employees, consultants and advisors, and non-employee directors of the Company and its subsidiaries. The 2015 Stock Incentive Plan was approved by shareholders authorizing up to 18,000,000 shares available for issuance under the plan. Additionally, 1,232,068 shares that remained available for grants under the Company’s 2007 Stock Incentive Plan were added to the shares available for issuance under the 2015 Stock Incentive Plan. As of June 30, 2019, there were a total of 9,379,904 shares available for future issuance under the Stock Plans. New shares are issued from the Company’s balance of authorized Common Stock from the 2015 Stock Incentive Plan to satisfy stock option exercises and vesting of awards.
The Company recognized the following equity-based compensation expense and benefits in the Consolidated Statements of Operations:
The estimated fair value of the Company’s equity-based awards, less expected forfeitures, is amortized over the awards’ vesting terms on a straight-line basis.
Table:
 |  | YearEnded | 
 | June 30, 2019 | June 24, 2018 | June 25, 2017
 |  | (in thousands) | 
Equity-based compensation expense | $187,234 | $172,216 | $149,975
Income tax benefit recognized related to equity-based compensation | $47,396 | $87,505 | $38,381
Income tax benefit realized from the exercise and vesting of options and RSUs | $49,242 | $90,297 | $92,749


Question: What is the total number of shares available for future issuance under the Stock Plans as of June 30, 2019?
Answer: 9,379,904 shares
We make contributions to our defined benefit plans as required under various pension funding regulations. We expect to make contributions of approximately
$1,420 to the international plans in fiscal 2020 based on current actuarial computations
Estimated future benefit payments are as follows:
Savings plans:
We sponsor retirement savings plans, which allow eligible employees to defer part of their annual compensation. Certain contributions by us are discretionary and
are determined by our Board of Directors each year. Our contributions to the savings plans in the United States for the fiscal years ended March 31, 2017, 2018 and 2019
were approximately $4,367, $4,421, and $4,913, respectively.
We also sponsor a nonqualified deferred compensation program, which permits certain employees to annually elect to defer a portion of their compensation until
retirement. A portion of the deferral is subject to a matching contribution by us. The employees select among various investment alternatives, which are the same as are
available under the retirement savings plans, with the investments held in a separate trust. The value of the participants’ balances fluctuate based on the performance of
the investments. The market value of the trust at March 31, 2018 and 2019 of $6,649 and $4,693, respectively, is included as an asset and a liability in our accompanying
balance sheet because the trust’s assets are both assets of the Company and a liability as they are available to general creditors in certain circumstances
Table:
Fiscal Year ended March 31, | US Plans | International Plans
2020 | $2,295 | $7,055
2021 | 2,333 | 7,197
2022 | 2,353 | 7,337
2023 | 2,371 | 7,624
2024 | 2,388 | 7,624
2025-2029 | 11,880 | 40,364


Question: What are the future benefit payments of U.S. Plans for the fiscal years ended March 31, 2022 to 2024?
Answer: 2,353, 2,371, 2,388