hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
17. Earnings Per Share
Basic earnings per share is computed by dividing the net income attributable to ordinary shareholders by the weighted-average number of ordinary shares outstanding during the period. Diluted earnings per share is computed by giving effect to all potential weighted-average dilutive shares. The dilutive effect of outstanding awards is reflected in diluted earnings per share by application of the treasury stock method.
A reconciliation of the calculation of basic and diluted loss per share is as follows:
* As adjusted to reflect the impact of the full retrospective adoption of IFRS 15. See Note 2 for further details.
For fiscal years ended June 30, 2019, 2018 and 2017 , 9.6 million, 12.8 million and 13.8 million, respectively of potentially anti-dilutive shares were excluded from the computation of net loss per share.
Table:
 | Fiscal Year Ended June 30, |  | 
 | 2019 | 2018 | 2017
 |  | (U.S. $ in thousands, except per share data) | 
 |  | *As Adjusted | *As Adjusted
Numerator: |  |  | 
Net loss attributable to ordinary shareholders | $(637,621) | $(113,432) | $(37,449)
Denominator: |  |  | 
Weighted-average ordinary shares outstanding—basic | 238,611 | 231,184 | 222,224
Weighted-average ordinary shares outstanding—diluted | 238,611 | 231,184 | 222,224
Net loss per share attributable to ordinary shareholders: |  |  | 
Basic net loss per share | $(2.67) | $(0.49) | $(0.17)
Diluted net loss per share | $(2.67) | $(0.49) | $(0.17)


Question: What is the average basic net loss per share for fiscal years ended June 30, 2017, 2018 and 2019?
Answer: -1.11
Calculation: -(2.67+0.49+0.17)/3
Provision for Income Taxes: Our effective income tax rates for each of the periods presented were the result of the mix of income earned in various tax jurisdictions that apply a broad range of income tax rates. In fiscal 2018, the Tax Act was signed into law. The more significant provisions of the Tax Act as applicable to us are described above under “Impacts of the U.S. Tax Cuts and Jobs Act of 2017”. refer to Note 14 of Notes to Consolidated Financial Statements included elsewhere in this Annual report for a discussion regarding the differences between the effective income tax rates as presented for the periods below and the U.S. federal statutory income tax rates that were in effect during these periods. Future effective income tax rates could be adversely affected by an unfavorable shift of earnings weighted to jurisdictions with higher tax rates, by unfavorable changes in tax laws and regulations, by adverse rulings in tax related litigation, or by shortfalls in stock-based compensation realized by employees relative to stock-based compensation that was recorded for book purposes, among others.
Provision for income taxes decreased in fiscal 2019 relative to fiscal 2018 primarily due to the absence of the initial accounting charges related to the Tax Act that were recorded in fiscal 2018. To a lesser extent, provision for income taxes also decreased in fiscal 2019 due to the net favorable impacts of our final accounting for the Tax Act in fiscal 2019; the net favorable impacts of the Tax Act on our tax profile during fiscal 2019; the favorable impact of a tax benefit arising from an increase in a deferred tax asset associated with a partial realignment of our legal structure in fiscal 2019; and lower income before provision for income taxes in fiscal 2019. These decreases to our provision for income taxes in fiscal 2019 relative to fiscal 2018 were partially offset both by lower excess tax benefits related to stock-based compensation expense in fiscal 2019, and by less favorable changes in net unrecognized tax benefits due to settlements with tax authorities and other events in fiscal 2019 relative to fiscal 2018.
Table:
 |  |  | Year Ended May 31, | 
 |  |  | Percent Change | 
(Dollars in millions) | 2019 | Actual | Constant | 2018
Provision for income taxes | $1,185 | -87% | -86% | $8,837
Effective tax rate | 9.7% |  |  | 71.1%


Question: How much was the average effective tax rate in 2018 and 2019?
Answer: 40.4
Calculation: (9.7+71.1) / 2
Indefinite-lived Intangible Assets
Indefinite-lived intangible assets consist entirely of acquired in-process research and development technology, or IPR&D. The following table sets forth the Company’s activities related to the indefinite-lived intangible assets:
The Company performs its annual assessment of indefinite-lived intangible assets on October 31 each year or more frequently if events or changes in circumstances indicate that the asset might be impaired utilizing a qualitative test as a precursor to the quantitative test comparing the fair value of the assets with their carrying amount. Based on the qualitative test, if it is more likely than not that indicators of impairment exists, the Company proceeds to perform a quantitative analysis. Based on the Company’s assessment as of October 31, 2019, no indicators of impairment were identified.
In the years ended December 31, 2019 and 2018, no IPR&D impairment losses were recorded. In the year ended December 31, 2017, the Company recognized impairment losses of $2.0 million related to the Company's abandonment of a single IPR&D project.
Table:
Years Ended December 31, |  | 
 | 2019 | 2018
(in thousands) |  | 
Beginning balance | $4,400 | $4,400
Transfers to developed technology from IPR&D | (4,400) | —
Ending balance | $— | $4,400


Question: What were the Transfers to developed technology from IPR&D in 2019 and 2018 respectively?
Answer: (4,400), 0
NOTE 8. INVENTORIES
The changes in the allowance for obsolescence are as follows:
On December 31, 2019, our allowance for inventory obsolescence amounted to €12,527, which is 6.7% of total inventory. The major part of the allowance is related to components and raw materials. The additions for the years 2018 and 2019 mainly relate to inventory items which ceased to be used due to technological developments and design changes which resulted in obsolescence of certain parts.
The cost of inventories recognized as costs and included in cost of sales amounted to €510.2 million (2018: €365.8 million).
Table:
 | December 31, | 
 | 2018 | 2019
Balance at beginning of year | (12,749) | (13,364)
Charged to cost of sales | (2,958) | (4,748)
Reversals | 723 | 915
Utilization of the provision | 1,978 | 4,994
Foreign currency translation effect | (358) | (324)
Balance at end of year | (13,364) | (12,527)


Question: What is the major part of the obsolescence allowance?
Answer: components and raw materials
Cubic Mission Solutions
Sales: CMS sales increased 23% to $207.0 million in fiscal 2018 compared to $168.9 million in 2017. The increase in sales was primarily due to increased orders and shipments of expeditionary satellite communications products, tactical networking products, and Command and Control, Intelligence, Surveillance and Reconnaissance (C2ISR) products and services. Businesses acquired during fiscal years 2018 and 2017 whose operations are included in our CMS operating segment had sales of $5.6 million and $1.5 million for fiscal years 2018 and 2017, respectively.
Amortization of Purchased Intangibles: Amortization of purchased intangibles included in the CMS results amounted to $20.8 million in 2018 and $23.6 million in 2017. The $2.8 million decrease in amortization expense is related to purchased intangible assets that are amortized based upon accelerated methods.
Operating Income: CMS had an operating loss of $0.1 million in 2018 compared to $9.3 million in 2017. CMS realized increased profits from expeditionary satellite communications products, tactical networking products, and C2ISR products and services. As mentioned above, amortization of purchased intangibles decreased to $20.8 million in 2018 compared to $23.6 million in 2017. CMS increased R&D expenditures between 2017 and 2018 by $10.8 million, primarily driven by development of new antenna technologies. Businesses acquired by CMS in fiscal years 2018 and 2017 incurred operating losses of $4.7 million in fiscal 2018 compared to $2.9 million in fiscal 2017. Included in the operating loss incurred by acquired businesses are acquisition transaction costs of $1.6 million and $1.8 million incurred in fiscal years 2018 and 2017, respectively.
Adjusted EBITDA: CMS Adjusted EBITDA increased 82% to $26.2 million in 2018 compared to $14.4 million in 2017.
The increase in CMS Adjusted EBITDA was primarily due to the same items described in the operating income section
above, excluding the changes in amortization expense and acquisition transaction costs discussed above as such items are
excluded from Adjusted EBITDA.
Table:
 | Fiscal 2018 | Fiscal 2017 | % Change
 |  | (in millions) | 
Sales | $  207.0 | $  168.9 | 23 %
Operating loss | (0.1) | (9.3) | (99)
Adjusted EBITDA | 26.2 | 14.4 | 82


Question: What is the percentage increase in CMS sales in 2018?
Answer: 23%
Fees Billed by Ernst & Young LLP
The table below shows the fees billed by EY for audit and other services provided to the Company in fiscal years 2019 and 2018.
Figure 48. FY2019/2018 Fees Billed by Ernst & Young LLP
(1) Audit Fees represent fees for professional services provided in connection with the audits of annual financial statements. Audit Fees also include reviews of quarterly financial statements, audit services related to other statutory or regulatory filings or engagements, and fees related to EY’s audit of the effectiveness of the Company’s internal control over financial reporting pursuant to section 404 of the Sarbanes-Oxley Act.
(2) Audit-Related Fees represent fees for assurance and related services that are reasonably related to the audit or review of the Company’s financial statements and are not reported above under “Audit Fees”. These fees principally include due diligence and accounting consultation fees in connection with our acquisition of Coventor, Inc. in 2018 and an information systems audit in 2019.
(3) Tax Fees represent fees for professional services for tax planning, tax compliance and review services related to foreign tax compliance and assistance with tax audits and appeals.
The audit committee reviewed summaries of the services provided by EY and the related fees during fiscal year 2019 and has determined that the provision of non-audit services was compatible with maintaining the independence of EY as the Company’s independent registered public accounting firm. The audit committee or its delegate approved 100% of the services and related fee amounts for services provided by EY during fiscal year 2019.
Table:
 | Fiscal Year 2019 ($) | Fiscal Year 2018 ($)
AuditFees(1) | 4,703,830 | 4,605,495
Audit-RelatedFees(2) | 27,000 | 90,500
TaxFees(3) | 194,170 | 34,888
AllOtherFees | — | —
TOTAL | 4,925,000 | 4,730,883


Question: What is the percentage change in the total fees from 2018 to 2019?
Answer: 4.1
Calculation: (4,925,000-4,730,883)/4,730,883
Item 14. Principal Accountant Fees and Services
The aggregate fees for professional services rendered by our independent registered public accounting firm, KPMG LLP, for Fiscal 2019 and Fiscal 2018 were:
(1) Audit fees were primarily for professional services rendered for (a) the annual audits of our consolidated financial statements and the accompanying attestation report regarding our ICFR contained in our Annual Report on Form 10- K, (b) the review of quarterly financial information included in our Quarterly Reports on Form 10-Q, (c) audit services related to mergers and acquisitions and offering documents, and (d) annual statutory audits where applicable.
(2) Audit-related fees were primarily for assurance and related services, such as the review of non-periodic filings with the SEC.
(3) Tax fees were for services related to tax compliance, including the preparation of tax returns, tax planning and tax advice.
(4) All other fees consist of fees for services other than the services reported in audit fees, audit-related fees, and tax fees.
OpenText's Audit Committee has established a policy of reviewing, in advance, and either approving or not approving, all audit, audit-related, tax and other non-audit services that our independent registered public accounting firm provides to us. This policy requires that all services received from our independent registered public accounting firm be approved in advance by the Audit Committee or a delegate of the Audit Committee. The Audit Committee has delegated the pre-approval responsibility to the Chair of the Audit Committee. All services that KPMG LLP provided to us in Fiscal 2019 and Fiscal 2018 have been preapproved by the Audit Committee.
The Audit Committee has determined that the provision of the services as set out above is compatible with the maintaining of KPMG LLP's independence in the conduct of its auditing functions.
Table:
 | Year ended June 30, | 
(In thousands) | 2019 | 2018
Audit fees (1) | $4,598 | $4,701
Audit-related fees (2) | — | —
Tax fees (3) | 108 | 116
All other fees (4) | 40 | 101
Total | $4,746 | $4,918


Question: What years did KPMG LLP provide service to the company that was preapproved by the Audit Committee?
Answer: Fiscal 2019 and Fiscal 2018
NOTE 4 - PREPAID EXPENSES AND OTHER CURRENT ASSETS & PATENTS AND INTANGIBLE ASSETS
Prepaid Expenses and Other Current Assets
The components of prepaid expenses and other current assets are as presented below:
During 2019, tax refunds from the Internal Revenue Service of $5.0 million were received for the prepayment made during 2018.
Table:
 | As of December 31, | 
 | 2019 | 2018
 | (in thousands) | 
Prepaid income taxes | $— | $5,429
Other prepaid expenses and other current assets | 288 | 1,151
 | $288 | $6,580


Question: What is the value of the prepaid income taxes as a percentage of the total prepaid expenses and other current assets in 2018?
Answer: 82.51
Calculation: 5,429/6,580
Future minimum operating lease payments were as follows:
Operating lease commitments were mainly in respect of land and buildings which arose from a sale and operating leaseback transaction in 2001. Leases have an average term of 13 years (2017/18: 14 years) and rentals are fixed for an average of 13 years (2017/18: 14 years).
Other than as disclosed below, there were no contingent liabilities or guarantees at 31 March 2018 other than those arising in the ordinary course of the group’s business and on these no material losses are anticipated. We have insurance cover to certain limits for major risks on property and major claims in connection with legal liabilities arising in the course of our operations. Otherwise, the group generally carries its own risks.
Table:
Payable in the year ending 31 March: | 2019 £m | 2018 £m
2019 | - | 600
2020 | 755 | 550
2021 | 641 | 513
2022 | 599 | 486
2023 | 555 | 463
2024 | 512 | 449
Thereafter | 3,557 | 3,536
Total future minimum operating lease payments | 6,619 | 6,597


Question: For which year was  the  Total future minimum operating lease payments be higher?
Answer: 2019
Calculation: Compare the  Total future minimum operating lease payments  for the larger value
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:
 |  | 30 June 2019 | 30 June 2018
 | Note | $'000 | $'000
CURRENT |  |  | 
Prepayments |  | 2,631 | 3,827
Capitalised transaction costs |  | 1,496 | -
Security deposits | 6(a) | 8,822 | 4,151
Customer incentives | 6(b) | 625 | 764
Other current assets |  | 412 | 412
Contract costs 6(c) | 6(c) | 446 | -
Total other assets - current |  | 14,432 | 9,154


Question: What was the percentage change in prepayments between 2018 and 2019?
Answer: -31.25
Calculation: (2,631 - 3,827) / 3,827
Revenue from external customers, classified by significant product and service offerings, was as follows:
Our commercial cloud revenue, which includes Office 365 Commercial, Azure, the commercial portion of LinkedIn, Dynamics 365, and other commercial cloud properties, was $38.1 billion, $26.6 billion and $16.2 billion in fiscal years 2019, 2018, and 2017, respectively. These amounts are primarily included in Office products and cloud services, Server products and cloud services, and LinkedIn in the table above.
Table:
 |  | (In millions) | 
Year Ended June 30, | 2019 | 2018 | 2017
Server products and cloud services | $ 32,622 | $ 26,129 | $ 21,649
Office products and cloud services | 31,769 | 28,316 | 25,573
Windows | 20,395 | 19,518 | 18,593
Gaming | 11,386 | 10,353 | 9,051
Search advertising | 7,628 | 7,012 | 6,219
LinkedIn | 6,754 | 5,259 | 2,271
Enterprise Services | 6,124 | 5,846 | 5,542
Devices | 6,095 | 5,134 | 5,062
Other | 3,070 | 2,793 | 2,611
Total | $  125,843 | $  110,360 | $   96,571


Question: What does the company's commercial cloud revenue contain?
Answer: Office 365 Commercial, Azure, the commercial portion of LinkedIn, Dynamics 365, and other commercial cloud properties
Our net sales to significant customers as a percentage of total net sales were as follows:
We sell parts to these three transportation customers for certain vehicle platforms under purchase agreements that have no volume commitments and are subject to purchase orders issued from time to time.
No other customer accounted for 10% or more of total net sales during these periods. We continue to focus on broadening our customer base to diversify our end market exposure.
Changes in the level of our customers' orders have, in the past, had a significant impact on our operating results. If a major customer reduces the amount of business it does with us, or substantially changes the terms of that business, there could be an adverse impact on our operating results
Table:
 |  | Years Ended December 31, | 
 | 2019 | 2018 | 2017
Cummins Inc. | 16.1% | 15.2% | 13.4%
Honda Motor Co. | 11.6% | 10.5% | 11.2%
Toyota Motor Corporation | 9.6% | 10.5% | 10.2%


Question: Which years does the table provide information for the company's net sales to significant customers as a percentage of total net sales?
Answer: 2019, 2018, 2017
The Company is holding the following currency derivatives designated as hedging instruments:
Hedge ratio is 1:1 and changes in forward rate have been designated as the hedged risk. The change in the fair value of the hedging instrument is compared with the change in fair value of the hedged item, and the lower amount
is taken to OCI. If the change in fair value of the hedging instrument is higher, then the excess change in fair value is considered ineffective hedging and recorded in net foreign exchange gains and losses. Upon recognition of the
hedged net sales, the cumulative amount in hedging reserve is released in the OCI as a reclassification adjustment and recognized in net sales.
See note E1, “Equity” for movement in the cash flow hedge reserve. No hedged net sales were recognized in 2019, hence no amount was released from hedging reserve in the OCI. No hedge ineffectiveness was recognized in
the income statement in 2019.
Table:
Foreign exchange forward contracts |  |  | 
2019 | < 1 year | 1–3 years | Total
Notional Amount (USD millions) | 517 | 176 | 693
Average forward rate (SEK/USD) | 9.13 | 8.92 | –


Question: What is the percentage constitution of the notional amount of foreign exchange forward contracts that are less than a year among the total notional amount?
Answer: 74.6
Calculation: 517/693
The following table summarizes net revenues by significant product and services categories:
Endpoint and information protection products include endpoint security, advanced threat protection, and information protection solutions and their related support services. Network and web security products include network security, web security, and cloud security solutions and their related support services. WSS and PKI products consist of the solutions we divested on October 31, 2017. Other products and services primarily consist of email security products, managed security services, consulting, and other professional services.
Consumer security products include Norton security, Norton Secure VPN, and other consumer security solutions. Identity and information protection products include LifeLock identity theft protection and other information protection solutions.
Products and service revenue information
Table:
 |  | Year Ended | 
(in millions) | March 29, 2019 | March 30, 2018 | March 31, 2017
Enterprise Security: |  |  | 
Endpoint and information protection | $1,027 | $983 | $947
Network and web security | 748 | 782 | 451
WSS and PKI | - | 238 | 422
Other products and services | 548 | 551 | 535
Total Enterprise Security | $2,323 | $2,554 | $2,355
Consumer Cyber Safety: |  |  | 
Consumer security | $1,471 | $1,504 | $1,527
Identity and information protection | 937 | 776 | 137
Total Consumer Cyber Safety | 2,408 | 2,280 | 1,664
Total net revenues | $4,731 | $4,834 | $4,019


Question: What is the average Total net revenues for the fiscal years 2019, 2018 and 2017?
Answer: 4528
Calculation: (4,731+4,834+4,019)/3
Openreach has a UK-wide presence which is overlapped by our competitors in around half the country. This overlap is expected to grow as alternative network providers build-out new fibre footprint. Our volume discount deal, signed with the majority of our major communications provider customers, has led to another record quarter for fibre sales. We are also rapidly expanding our fibre-to-the-premises network to provide the next generation of services for our customers. We have experienced strong demand from businesses for Ethernet circuits for the second consecutive quarter.
Adjusteda revenue decline of 4% for the year was driven by regulated price reductions predominantly on FTTC and Ethernet products, non-regulated price reductions (mainly driven by communications providers signing up for fibre volume discounts), a small decline in our physical line base and a reclassification of costs to revenue. This was partly offset by 25% growth in our fibre rental base, a 9% increase in our Ethernet rental base and the impact of adopting IFRS 15.
Adjusteda operating costs were broadly flat, with higher costs from recruiting and training engineers to support our ‘Fibre First’ programme and help improve customer experience, as well as pay inflation and business rates, offset by efficiency savings and a reclassification of costs to revenue. Adjusteda EBITDA was down 7% for the year.
Capital expenditure was £2.1bn, up 22%, driven by investment in our FTTP and Gfast network build and higher year-on-year BDUK net grant funding deferrals, partly offset by efficiency savings.
Normalised free cash flowb was down 38% due to the EBITDA decline, higher underlying capital expenditure (excluding BDUK grant funding deferrals) and timing of customer receipts.
a Adjusted measures exclude specific items, as explained in the Additional Information on page 185. b Free cash flow after net interest paid, before pension deficit payments (including the cash tax benefit of pension deficit payments) and specific items. c Openreach comparatives have been re-presented to reflect the transfer of Northern Ireland Networks from Enterprise to Openreach.
Table:
Openreachc |  |  |  | 
Adjusteda revenue £5,075m |  |  | Adjusteda operating profit £955m | 
 | 2019 (IFRS 15) | 2018 (IAS 18) | Change | 
Year to 31 March | £m | £m | £m | %
Adjusted a revenue | 5,075 | 5,278 | (203) | (4)
Adjusted a operating costs | 2,652 | 2,663 | (11) | –
Adjusted a EBITDA | 2,423 | 2,615 | (192) | (7)
Depreciation & amortisation | 1,468 | 1,401 | 67 | 5
Adjusted a operating profit | 955 | 1,214 | (259) | (21)
Capital expenditure | 2,081 | 1,699 | 382 | 22
Normalised free cash flowb | 685 | 1,100 | (415) | (38)


Question: What was  Capital expenditure for 2018 and 2019 respectively?
Answer: 1,699, 2,081