hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
NOTE 7 — PROPERTY AND EQUIPMENT
The components of property and equipment were as follows:
During fiscal years 2019, 2018, and 2017, depreciation expense was $9.7 billion, $7.7 billion, and $6.1 billion, respectively. We have committed $4.0 billion for the construction of new buildings, building improvements, and leasehold improvements as of June 30, 2019.
Table:
(In millions) |  | 
June 30, | 2019 | 2018
Land | $ 1,540 | $ 1,254
Buildings and improvements | 26,288 | 20,604
Leasehold improvements | 5,316 | 4,735
Computer equipment and software | 33,823 | 27,633
Furniture and equipment | 4,840 | 4,457
Total, at cost | 71,807 | 58,683
Accumulated depreciation | (35,330) | (29,223)
Total, net | $  36,477 | $  29,460


Question: How many components of property and equipment are there?
Answer: 5
Calculation: Lease##buildings and improvements##leasehold improvements##computer equipment and software##furniture and equipment
The amount of unrecognized tax benefits at December 31, 2019 increased by $387 million in 2019 to $7,146 million. A reconciliation of the beginning and ending amount of unrecognized tax benefits was as follows:
The additions to unrecognized tax benefits related to the current and prior years were primarily attributable to U.S. federal and state tax matters, as well as non-U.S. tax matters, including transfer pricing, credits and incentives. The settlements and reductions to unrecognized tax benefits for tax positions of prior years were primarily attributable to U.S. federal and state tax matters, non-U.S. audits and impacts due to lapse of statute of limitations.
The unrecognized tax benefits at December 31, 2019 of $7,146 million can be reduced by $584 million associated with timing adjustments, U.S. tax credits, potential transfer pricing adjustments and state income taxes. The net amount of $6,562 million, if recognized, would favorably affect the company’s effective tax rate. The net amounts at December 31, 2018 and 2017 were $6,041 million and $6,064 million, respectively.
Table:
($ in millions) |  |  | 
 | 2019 | 2018 | 2017
Balance at January 1 | $6,759 | $ 7,031 | $3,740
Additions based on tax positions related to the current year | 816 | 394 | 3,029
Additions for tax positions of prior years | 779 | 1,201 | 803
Reductions for tax positions of prior years (including impacts due to a lapse of statute) | (922) | (1,686) | (367)
Settlements | (286) | (181) | (174)
Balance at December 31 | $7,146 | $ 6,759 | $7,031


Question: What attributed to settlements and reductions to unrecognized tax benefits?
Answer: The settlements and reductions to unrecognized tax benefits for tax positions of prior years were primarily attributable to U.S. federal and state tax matters, non-U.S. audits and impacts due to lapse of statute of limitations.
Fiscal 2017 Plan
We initiated a restructuring plan in the first quarter of fiscal 2017 to reduce complexity by means of long-term structural improvements (the Fiscal 2017 Plan), under which we reduced headcount and closed certain facilities. These actions were completed in fiscal 2019 at a cumulative cost of $289 million.
Our restructuring, transition and other costs are presented in the table below:
Included in our fiscal 2018 other exit and disposal costs is a $29 million impairment charge related to certain land and buildings previously reported as property and equipment that were reclassified to assets held for sale.
As of March 29, 2019, the restructuring liabilities were not significant.
Table:
 |  | Year Ended | 
(In millions) | March 29, 2019 | March 30, 2018 | March 31, 2017
Severance and termination benefit costs | $28 | $61 | $76
Other exit and disposal costs | 15 | 52 | 80
Asset write-offs | 2 | 25 | 23
Transition costs | 196 | 272 | 94
Total restructuring, transition and other costs | $241 | $410 | $273


Question: What is the average Total restructuring, transition and other costs for the fiscal years 2019, 2018, 2017?
Answer: 308
Calculation: (241+410+273)/3
Effective Tax Rate
The items accounting for the difference between income taxes computed at the U.S. federal statutory rate and our effective rate were as follows:
The decrease from the federal statutory rate in fiscal year 2019 is primarily due to a $2.6 billion net income tax benefit related to intangible property transfers, and earnings taxed at lower rates in foreign jurisdictions resulting from producing and distributing our products and services through our foreign regional operations centers in Ireland, Singapore, and Puerto Rico. The increase from the federal statutory rate in fiscal year 2018 is primarily due to the net charge related to the enactment of the TCJA in the second quarter of fiscal year 2018, offset in part by earnings taxed at lower rates in foreign jurisdictions. The decrease from the federal statutory rate in fiscal year 2017 is primarily due to earnings taxed at lower rates in foreign jurisdictions. Our foreign regional operating centers in Ireland, Singapore and Puerto Rico, which are taxed at rates lower than the U.S. rate, generated 82%, 87%, and 76% of our foreign income before tax in fiscal years 2019, 2018, and 2017, respectively. Other reconciling items, net consists primarily of tax credits, GILTI, and U.S. state income taxes. In fiscal years 2019, 2018, and 2017, there were no individually significant other reconciling items.
The decrease in our effective tax rate for fiscal year 2019 compared to fiscal year 2018 was primarily due to the net charge related to the enactment of the TCJA in the second quarter of fiscal year 2018, and a $2.6 billion net income tax benefit in the fourth quarter of fiscal year 2019 related to intangible property transfers. The increase in our effective tax rate for fiscal year 2018 compared to fiscal year 2017 was primarily due to the net charge related to the enactment of the TCJA and the realization of tax benefits attributable to previous Phone business losses in fiscal year 2017.
Table:
Year Ended June 30, | 2019 | 2018 | 2017
Federal statutory rate | 21.0% | 28.1% | 35.0%
Effect of: |  |  | 
Foreign earnings taxed at lower rates | (4.1)% | (7.8)% | (11.6)%
Impact of the enactment of the TCJA | 0.4% | 37.7% | 0%
Phone business losses | 0% | 0% | (5.7)%
Impact of intangible property transfers | (5.9)% | 0% | 0%
Foreign-derived intangible income deduction | (1.4)% | 0% | 0%
Research and development credit | (1.1)% | (1.3)% | (0.9)%
Excess tax benefits relating to stock-based compensation | (2.2)% | (2.5)% | (2.1)%
Interest, net | 1.0% | 1.2% | 1.4%
Other reconciling items, net | 2.5% | (0.8)% | (1.3)%
Effective rate | 10.2% | 54.6% | 14.8%


Question: Why did effective tax rate in fiscal 2019 decrease from 2018?
Answer: The decrease in our effective tax rate for fiscal year 2019 compared to fiscal year 2018 was primarily due to the net charge related to the enactment of the TCJA in the second quarter of fiscal year 2018
As described in Note 7, the acquisition of Norstel resulted in the recognition of technology in process for $86 million in the line “Technologies in progress”.
The line “Technologies in progress” in the table above also includes internally developed software under construction and software not ready for use.
The amortization expense in 2019, 2018 and 2017 was $69 million, $64 million and $58 million, respectively.
Table:
December 31, 2019 | Gross Cost | Accumulated Amortization | Net Cost
Technologies & licenses | 699 | (578) | 121
Purchased & internally developed software | 486 | (427) | 59
Technologies in progress | 119 | — | 119
Other intangible assets | 70 | (70) | —
Total | 1,374 | (1,075) | 299
December 31, 2018 | Gross Cost | Accumulated Amortization | Net Cost
Technologies & licenses | 705 | (592) | 113
Purchased & internally developed software | 459 | (404) | 55
Technologies in progress | 44 | — | 44
Other intangible assets | 69 | (69) | —
Total | 1,277 | (1,065) | 212


Question: How much was the amortization expense in 2019?
Answer: $69 million
Note 10 – Income taxes
The provision (benefit) for income taxes consists of the following:
Table:
 | For the Years Ended December 31, | 
 | 2019 | 2018
Current: |  | 
Federal | $ (27) | $ (13 )
State and local | 276 | 249
Total current | 249 | 236
Deferred | 533 | (461)
Provision (benefit) for income taxes | $ 782 | $ (225)


Question: What is the average total current provision (benefit) for income taxes for 2018 and 2019?
Answer: 242.5
Calculation: (236+249)/2
Pro Forma Results
The following table summarizes, on a pro forma basis, the combined results of operations of the Company and TOKIN as though the acquisition and the Sale of EMD had occurred as of April 1, 2016. The pro forma amounts presented are not necessarily indicative of either the actual consolidated results had the acquisition occurred as of April 1, 2016, or of future consolidated operating results (amounts in thousands, except per share data):
(1) The net income for the fiscal year ended March 31, 2018 excludes the following: 34% of the gain on sale of the EMD business of $75.2 million, the gain related to the fair value of KEMET’s previous 34% interest in TOKIN of $68.7 million, and the bargain gain on the acquisition of TOKIN of $62.2 million.
(2) The net income for the fiscal year ended March 31, 2017 includes the following: 34% of the gain on sale of the EMD business of $123.4 million (which includes the release of a valuation allowance that was recorded in the fourth quarter of fiscal year 2017 and the use of the deferred tax asset which was recorded in the first quarter of fiscal year 2018), the gain related to the fair value of KEMET’s previous 34% interest in TOKIN of $66.7 million, and the bargain gain on the acquisition of TOKIN of $60.3 million.
(3) Fiscal years ended March 31, 2018 and 2017 adjusted due to the adoption of ASC 606.
Table:
 | Fiscal Years Ended March 31, | 
 | 2018 (1) | 2017 (2)
Pro forma revenues (3) | $1,217,655 | $1,060,777
Pro forma net income from continuing operations available to common stockholders (3) | 51,975 | 226,086
Pro forma earnings per common share - basic (3) | 0.98 | 4.86
Pro forma earnings per common share - diluted (3) | 0.89 | 4.08
Pro forma common shares - basic | 52,798 | 46,552
Pro forma common shares - diluted | 58,640 | 55,389


Question: What was the percentage change in the diluted Pro forma common shares between 2017 and 2018?
Answer: 5.87
Calculation: (58,640-55,389)/55,389
Adjusted cash flow
A reconciliation showing the items that bridge between net cash from operating activities as reported under IFRS to an adjusted basis is given below. Adjusted cash from operations is used by the Board to monitor the performance of the Group, with a focus on elements of cashflow, such as Net capital expenditure, which are subject to day to day control by the business.
Adjusted cash conversion in 2019 is 84% (2018: 91%). Cash conversion is calculated as adjusted cash from operations divided by adjusted operating profit.
The adjusted cash flow is included in the Financial Review on page 58.
Table:
 | 2019 | 2018
 | £m | £m
Net cash from operating activities as reported under IFRS | 227.4 | 212.6
Acquisition and disposal costs | 2.5 | 0.2
Net capital expenditure excluding acquired intangibles from acquisitions | (59.0) | (31.5)
Tax paid | 78.4 | 61.6
Repayments of principal under lease liabilities | (11.2) | –
Adjusted cash from operations | 238.1 | 242.9


Question: In which years was the adjusted cash conversion calculated in?
Answer: 2019, 2018
ADVANCED ENERGY INDUSTRIES, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (continued) (in thousands, except per share amounts)
NOTE 6. EARNINGS PER SHARE
Basic earnings per share (“EPS”) is computed by dividing income available to common stockholders by the weighted-average number of common shares outstanding during the period. The computation of diluted EPS is similar to the computation of basic EPS except that the denominator is increased to include the number of additional common shares that would have been outstanding (using the if-converted and treasury stock methods), if our outstanding stock options and restricted stock units had been converted to common shares, and if such assumed conversion is dilutive.
The following is a reconciliation of the weighted-average shares outstanding used in the calculation of basic and diluted earnings per share for the years ended December 31, 2019, 2018 and 2017:
Table:
 |  | Years Ended December 31, | 
 | 2019 | 2018 | 2017
Income from continuing operations | $56,495 | $147,149 | $136,101
Income from continuing operations attributable to noncontrolling interest | 34 | 86 | —
Income from continuing operations attributable to Advanced Energy Industries, Inc. | $56,461 | $147,063 | $136,101
Basic weighted-average common shares outstanding | 38,281 | 39,081 | 39,754
Assumed exercise of dilutive stock options and restricted stock units | 214 | 271 | 422
Diluted weighted-average common shares outstanding | 38,495 | 39,352 | 40,176
Continuing operations: |  |  | 
Basic earnings per share | $ 1.47 | $ 3.76 | $  3.42
Diluted earnings per share | $ 1.47 | $ 3.74 | $  3.39


Question: What was the Income from continuing operations attributable to Advanced Energy Industries, Inc. in 2017?
Answer: $136,101
Defined Benefit Pension Plans
We recognize the funded status of each defined pension benefit plan as the difference between the fair value of plan assets and the projected benefit obligation of the employee benefit plans in the Consolidated Balance Sheets, with a corresponding adjustment to accumulated other comprehensive loss, net of taxes. Each overfunded plan is recognized as an asset and each underfunded plan is recognized as a liability on our Consolidated Balance Sheets. Subsequent changes in the funded status are reflected on the Consolidated Balance Sheets in unrecognized pension items, a component of AOCL, which are included in total stockholders’ deficit. The amount of unamortized pension items is recorded net of tax.
We have amortized actuarial gains or losses over the average future working lifetime (or remaining lifetime of inactive participants if there are no active participants). We have used the corridor method, where the corridor is the greater of ten percent of the projected benefit obligation or fair value of assets at year end. If actuarial gains or losses do not exceed the corridor, then there is no amortization of gain or loss.
During the year ended December 31, 2017, several of our pension plans transferred in the sale of Diversey. Two international plans were split between Diversey and Sealed Air at the close of the sale. Unless noted, the tables in this disclosure show only activity related to plans retained by Sealed Air.
The following table shows the components of our net periodic benefit cost for the three years ended December 31, for our pension plans charged to operations:
(1) The amount recorded in inventory for the years ended December 31, 2019, 2018 and 2017 was not material.
Table:
 |  | Year Ended December 31, | 
(In millions) | 2019 | 2018 | 2017
Net periodic benefit (income) cost: |  |  | 
U.S. and international net periodic benefit cost included in cost of sales(1) | $ 1.1 | $ 0.8 | $ 1.4
U.S. and international net periodic benefit cost included in selling, general and administrative expenses | 2.8 | 3.5 | 5.6
U.S. and international net periodic benefit (income) included in other (income) expense | (4.4) | (8.4) | (6.0)
Total benefit (income) cost | (0.5 ) | (4.1 ) | $ 1.0


Question: How was amortization of actuarial gains or losses over the average future working lifetime (or remaining lifetime of inactive participants if there are no active participants)?
Answer: the corridor method, where the corridor is the greater of ten percent of the projected benefit obligation or fair value of assets at year end. If actuarial gains or losses do not exceed the corridor, then there is no amortization of gain or loss.
Results of Operations
Consolidated Results of Operations
The following tables present certain financial data for the periods indicated (dollars in millions):
Table:
 |  | Year ended December 31, | 
 | 2019 | 2018 | 2017
Revenues | $1,177.2 | $1,114.0 | $1,051.6
Expenses: |  |  | 
Operating expenses | 646.0 | 625.4 | 569.5
Depreciation and amortization | 236.2 | 217.0 | 206.5
Transition and integration costs | 5.4 | 6.6 | 13.1
Total expenses | 887.6 | 849.0 | 789.1
Operating income | 289.6 | 265.0 | 262.5
Operating margin | 24.6% | 23.8% | 25.0%
Interest expense, net | (63.5) | (51.7) | (57.5)
Other expense, net | (1.4) | (7.1) | (12.6)
Earnings before income taxes and equity in losses of unconsolidated affiliates | 224.7 | 206.2 | 192.4
Income tax expense (benefit) | 41.9 | 37.7 | (61.8)
Earnings before equity in losses of unconsolidated affiliates | 182.8 | 168.5 | 254.2
Equity in losses of unconsolidated affiliates, net of tax | (74.0) | — | —
Net earnings | $108.8 | $168.5 | $254.2
Earnings per share: |  |  | 
Net earnings per share attributable to Black Knight common shareholders: |  |  | 
Diluted | $0.73 | $1.14 | $1.47
Weighted average shares of common stock outstanding: |  |  | 
Diluted | 148.6 | 148.2 | 152.4


Question: What was the revenue in 2019?
Answer: 1,177.2
Property and Equipment
Property and equipment are stated at cost and are depreciated or amortized using the straight-line method. Cost, accumulated depreciation and amortization, and estimated useful lives are as follows (dollars in thousands):
Table:
 |  | Fiscal year-end | 
 | 2019 | 2018 | Useful Life
Land | $19,490 | $17,655 | 
Buildings and improvements | 173,333 | 165,535 | 5 - 40 years
Equipment, furniture and fixtures | 389,225 | 359,721 | 3 - 10 years
Leasehold improvements | 94,878 | 89,399 | shorter of asset life or lease term
 | 676,926 | 632,310 | 
Accumulated depreciation and amortization | (353,492) | (320,517) | 
Property and equipment, net | $323,434 | $311,793 | 


Question: What was the change in Leasehold improvements from 2018 to 2019?
Answer: 5479
Calculation: 94,878-89,399
Uncertain Tax Positions
A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):
Out of $2.1 million of unrecognized tax benefits, there are no unrecognized tax benefits that would result in a change in the Company's effective tax rate if recognized in future years. The accrued interest and penalties related to uncertain tax positions was not significant for December 29, 2019, December 30, 2018 and December 31, 2017.
The Company is not currently under tax examination and the Company’s historical net operating loss and credit carryforwards may be adjusted bythe Internal Revenue Service, and other tax authorities until the statute closes on the year in which such tax attributes are utilized. The Company estimates that its unrecognized tax benefits will not change significantly within the next twelve months.
The Company is subject to U.S. federal income tax as well as income taxes in many U.S. states and foreign jurisdictions in which the Company operates. The U.S. tax years from 1999 forward remain effectively open to examination due to the carryover of unused net operating losses and tax credits.
Table:
 | December 29, 2019 | December 30,2018 | December 31, 2017
Beginning balance of unrecognized tax benefits | $2,161 | $2,107 | $2,014
Additions for tax positions related to the prior year | (46) | (2) | 16
Additions for tax positions related to the current year | 88 | 125 | 77
Lapse of statutes of limitations | (86) | (69) | —
Ending balance of unrecognized tax benefits | $2,117 | $2,161 | $2,107


Question: What is the average additions for tax positions related to the prior year in 2018 and 2019?
Answer: -24
Calculation: -(2 + 46)/2
Audit and Non-Audit Fees
The following table presents fees billed for professional audit services rendered by PricewaterhouseCoopers LLP for the audit of the Company’s annual financial statements for the years ended June 29, 2019 and June 30, 2018 respectively, and fees billed for other services rendered by PricewaterhouseCoopers LLP and during those periods.
(1) Audit Fees are related to professional services rendered in connection with the audit of the Company’s annual financial statements, the audit of internal control over financial reporting in accordance with Section 404 of the Sarbanes-Oxley Act of 2002, reviews of financial statements included in the Company’s Quarterly Reports on Form 10-Q, and audit services provided in connection with other statutory and regulatory filings. Audit Fees in fiscal 2019 include fees for services performed by PricewaterhouseCoopers LLP in connection with the acquisitions of RPC Photonics, Inc. (“RPC”) and 3Z Telecom, Inc. (“3Z”). Audit Fees in fiscal 2018 include fees for the acquisitions of the AvComm and Wireless businesses of Cobham plc (“AW”) and Trilithic Inc. (“Trilithic”).
(2) Audit-Related Fees are related to due diligence services for our acquisition activities incurred in fiscal 2018.
(3) Tax Fees for fiscal 2019 and 2018 include professional services rendered in connection with transfer pricing consulting, tax audits, planning services and other tax consulting.
(4) All Other Fees are related to certain software subscription fees.
For fiscal year 2019, the Audit Committee considered whether audit-related services and services other than audit-related services provided by PricewaterhouseCoopers LLP are compatible with maintaining the independence of PricewaterhouseCoopers LLP and concluded that the independence of PricewaterhouseCoopers LLP was maintained.
Table:
 | Fiscal 2019 | Fiscal 2018
Audit Fees (1) | $3,631,575 | $3,784,488
Audit-Related Fees (2) | 0 | 359,000
Tax Fees (3) | 169,776 | 61,592
All Other Fees (4) | 4,500 | 3,600
Total | $3,805,851 | $4,208,680


Question: How much were Tax Fees in 2019?
Answer: 169,776
ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (United States Dollars in thousands, except per share data and unless otherwise indicated)
Cash flows
We prepare our Consolidated Statements of Cash Flows using the indirect method, under which we reconcile net income to cash flows provided by operating activities by adjusting net income for those items that impact net income, but may not result in actual cash receipts or payments during the period. The following table provides a summary of our operating, investing and financing cash flows for the periods indicated.
Table:
 |  | Year Ended December 31, | 
 | 2019 | 2018 | 2017
Net cash provided by operating activities | $153,327 | $256,426 | $160,394
Net cash used in investing activities | $(15,381) | $(6,581) | $(4,135)
Net cash used in financing activities | $(150,604) | $(145,184) | $(30,535)


Question: What was the Net cash provided by operating activities in 2017?
Answer: 160,394
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: For which years is the adjusted RoIC calculated in the table?
Answer: 2019, 2018, 2017