hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
Orders at Mobility grew to a record high on a sharp increase in volume from large orders, which the Strategic Company won across the businesses, most notably in the rolling stock and the customer services businesses. Among the major contract wins were a € 1.6 billion order for metro trains in the U. K., a € 1.2 billion contract for high-speed trains including maintenance in Russia, a € 0.8 billion order for trainsets including service in Canada, a € 0.7 billion contract for diesel-electric locomotives including a service agreement in the U. S. and two orders in Germany worth € 0.4 billion and € 0.3 billion, respectively, for regional multiple-unit trainsets. In fiscal 2018, Mobility also gained a number of significant contracts across the regions.
Revenue grew slightly as double-digit growth in the customer services business was largely offset by a decline in the rail infrastructure business. Revenue in the rolling stock business remained close to the prior-year level due to unfavorable timing effects related to the execution of large rail projects, which the business began to ramp up late in the fiscal year. Mobility continued to operate with high profitability in fiscal 2019, including a strong contribution to Adjusted EBITA from the services business. Severance charges were € 20 million, up from € 14 million in fiscal 2018. Mobility’s order backlog was € 33 billion at the end of the fiscal year, of which € 8 billion are expected to be converted into revenue in fiscal 2020.
Order growth reflected overall strong markets for Mobility in fiscal 2019, with different dynamics among the regions. Market development in Europe was characterized by continuing awards of mid-size and large orders, particularly in the U. K., Germany and Austria. Within the C. I. S., large projects for high-speed trains and services were awarded in Russia. Demand in the Middle East and Africa was held back by ongoing uncertainties related to budget constraints and political climates. In the Americas region, stable investment activities were driven by demand for mainline
and urban transport, especially in the U. S. and Canada.
Within the Asia, Australia region, Chinese markets saw ongoing investments in high-speed trains, urban transport, freight logistics and rail infrastructure, while India continues to invest in modernizing the country’s transportation infrastructure. For fiscal 2020, we expect markets served by Mobility to grow moderately with increasing demand for digital solutions. Overall, rail transport and intermodal mobility solutions are expected to remain a focus as urbanization continues to progress around the world. In emerging countries, rising incomes are expected to result in greater demand for public transport solutions.
Table:
 |  | Fiscal year |  | % Change
(in millions of €) | 2019 | 2018 | Actual | Comp.
Orders | 12,894 | 11,025 | 17 % | 16 %
Revenue | 8,916 | 8,821 | 1 % | 0 %
Adjusted EBITA | 983 | 958 | 3 % | 
Adjusted EBITA margin | 11.0 % | 10.9 % |  | 


Question: What was the average orders for 2019 and 2018?
Answer: 11959.5
Calculation: (12,894 + 11,025) / 2
Fair Value Measurement of Financial Assets and Liabilities
The carrying values of the Company’s accounts receivable and accounts payable, approximated their fair values due to the short period of time to maturity or repayment.
The following tables set forth the Company’s financial instruments that were measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands):
The fair value of the Company’s Level 1 financial instruments is based on quoted market prices in active markets for identical instruments. The fair value of the Company’s Level 2 financial instruments is based on observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data.
In addition, Level 2 assets and liabilities include derivative financial instruments associated with hedging activity, which are further discussed in Note 4. Derivative financial instruments are initially measured at fair value on the contract date and are subsequently remeasured to fair value at each reporting date using inputs such as spot rates, forward rates, and discount rates. There is not an active market for each hedge contract, but the inputs used to calculate the value of the instruments are tied to active markets.
Table:
December 31, 2019 |  |  |  | 
 | Level 1 | Level 2 | Level 3 | Total
Assets: |  |  |  | 
Money market funds | $107,708 | $— | $— | $107,708
U.S. government agencies | — | 77,364 | — | 77,364
Corporate debt securities | — | 207,137 | — | 207,137
Total | $107,708 | $284,501 | $— | $392,209
Liabilities: |  |  |  | 
Contingent consideration | $— | $— | $1,889 | $1,889
Derivative liabilities | — | 748 | — | 748
Total | $— | $748 | $1,889 | $2,637
 |  |  |  | 
December 31, 2018 |  |  |  | 
 | Level 1 | Level 2 | Level 3 | Total
Assets: |  |  |  | 
Money market funds | $273,546 | $— | $— | $273,546
U.S. government agencies | — | 72,840 | — | 72,840
Corporate debt securities | — | 228,953 | — | 228,953
Derivative assets | — | 623 | — | 623
Total | $273,546 | $302,416 | $— | $575,962
Liabilities: |  |  |  | 
Derivative liabilities | $— | $549 | $— | $549
Stock warrant liability | — | — | 410 | 410
Total | $— | $549 | $410 | $959


Question: What is the average total liabilities for 2018 and 2019?
Answer: 1798
Calculation: (2,637+959)/2
Net Settlement of Equity Awards
The majority of restricted stock units are subject to vesting. The underlying shares of common stock are issued when the restricted stock units vest. The majority of participants choose to participate in a broker-assisted automatic sales program to satisfy their applicable tax withholding requirements. We do not treat the shares sold pursuant to this automatic sales program as common stock repurchases.
In the fourth quarter of 2019, we withheld 83,327 shares through net settlements (where the award holder receives the net of the shares vested, after surrendering a portion of the shares back to the Company for tax withholding) for restricted stock units that vested for some of our executive officers.
The following table provides a summary of the Company’s repurchase of common stock under the Repurchase Program and shares surrendered back to the Company for tax withholding on restricted stock units that vested under our equity incentive programs in the three months ended December 31, 2019:
Table:
Period | Total Number of Shares Repurchased | Average Price Paid per Share | Total Number of Shares Purchased as part of a Publicly Announced Program | Maximum Dollar Value of shares that may yet be purchased under the Repurchase Program
October 1, 2019 through October 31, 2019 | - | - | - - | $12,544,543
November 1, 2019 through November 30, 2019 | 274,681 | $4.82 | 191,354 | $11,620,641
December 1, 2019 through December 31, 2019 | 374,490 | $4.70 | 374,490 | $9,859,153
Total shares repurchased | 649,171 | $4.75 | 565,844 | $9,859,153


Question: From November 1 2019 to December 31 2019, how many months was the average price paid per share more than $4.72?
Answer: 1
Calculation: November
10 Earnings per share
Basic and diluted earnings per share calculated on an adjusted profit basis are included in Note 2.
The dilution is in respect of unexercised share options and the Performance Share Plan.
Table:
 | 2019 | 2018
Profit attributable to equity shareholders (£m) | 166.6 | 223.1
Weighted average shares (million) | 73.7 | 73.6
Dilution (million) | 0.2 | 0.2
Diluted weighted average shares (million) | 73.9 | 73.8
Basic earnings per share | 226.2p | 303.1p
Diluted earnings per share | 225.5p | 302.0p


Question: What was the percentage change in the profit attributable to equity shareholders from 2018 to 2019?
Answer: -25.32
Calculation: (166.6-223.1)/223.1
Stock-Based Compensation
The Company accounts for options granted to employees by measuring the cost of services received in exchange for the award of equity instruments based upon the fair value of the award on the date of grant. The fair value of that award is then ratably recognized as an expense over the period during which the recipient is required to provide services in exchange for that award.
Options and warrants granted to consultants and other non-employees are recorded at fair value as of the grant date and subsequently adjusted to fair value at the end of each reporting period until such options and warrants vest, and the fair value of such instruments, as adjusted, is expensed over the related vesting period.
The Company measures the cost of services received in exchange for an award of equity instruments based on the fair value of the award. The fair value of the award is measured on the grant date and recognized over the period services are required to be provided in exchange for the award, usually the vesting period. Forfeitures of unvested stock options are recorded when they occur.
The Company incurred stock-based compensation charges of $3.5 million and $1.5 million for each of the years ended December 31, 2019 and 2018, respectively, which are included in general and administrative expenses. The following table summarizes the nature of such charges for the periods then ended (in thousands):
Table:
 | For the Years Ended December 31, | 
 | 2019 | 2018
Compensation and related benefits | $3,247 | $949
Professional and legal fees | 242 | 545
Totals  | 3,489 | $1,494


Question: How does the company account for options granted to employees?
Answer: by measuring the cost of services received in exchange for the award of equity instruments based upon the fair value of the award on the date of grant.
31. Financial instruments
Financial assets
Table:
 |  | 2019 | 2018
 | Note | £m | £m
Net trade receivables | 18 | 24.9 | 25.4
Accrued income | 18 | 28.0 | 26.7
Other receivables | 18 | 0.3 | 0.1
Cash and cash equivalents | 19 | 5.9 | 4.3
Total |  | 59.1 | 56.5


Question: What were the total financial assets in 2019?
Answer: 59.1
sacramento container acquisition in october 2017 , pca acquired substantially all of the assets of sacramento container corporation , and 100% ( 100 % ) of the membership interests of northern sheets , llc and central california sheets , llc ( collectively referred to as 201csacramento container 201d ) for a purchase price of $ 274 million , including working capital adjustments . funding for the acquisition came from available cash on hand . assets acquired include full-line corrugated products and sheet feeder operations in both mcclellan , california and kingsburg , california . sacramento container provides packaging solutions to customers serving portions of california 2019s strong agricultural market . sacramento container 2019s financial results are included in the packaging segment from the date of acquisition . the company accounted for the sacramento container acquisition using the acquisition method of accounting in accordance with asc 805 , business combinations . the total purchase price has been allocated to tangible and intangible assets acquired and liabilities assumed based on respective fair values , as follows ( dollars in millions ) : .

Table:
 | 12/31/17 allocation | adjustments | revised allocation
goodwill | $ 151.1 | $ 5.5 | $ 156.6
other intangible assets | 72.6 | -5.5 ( 5.5 ) | 67.1
property plant and equipment | 26.7 | 2014 | 26.7
other net assets | 23.4 | 2014 | 23.4
net assets acquired | $ 273.8 | $ 2014 | $ 273.8
during the second quarter ended june 30 , 2018 , we made a $ 5.5 million net adjustment based on the final valuation of the intangible assets .
we recorded the adjustment as a decrease to other intangible assets with an offset to goodwill .
goodwill is calculated as the excess of the purchase price over the fair value of the net assets acquired .
among the factors that contributed to the recognition of goodwill were sacramento container 2019s commitment to continuous improvement and regional synergies , as well as the expected increases in pca 2019s containerboard integration levels .
goodwill is deductible for tax purposes .
other intangible assets , primarily customer relationships , were assigned an estimated weighted average useful life of 9.6 years .
property , plant and equipment were assigned estimated useful lives ranging from one to 13 years. .

Question: what percentage of the revised allocation of net assets acquired is goodwill?
Answer: 57%
Calculation: divide(156.6, 273.8)
Year ended December 31, 2018 compared with the year ended December 31, 2017:
Revenue in 2018 is derived from multiple license agreements that we entered into with third-parties following negotiations pursuant to our patent licensing and enforcement program. The revenue increase is primarily due to licensing revenues, as further described in "Item 1. Business" - "Licensing and Enforcement - Current Activities, Post 2013".
Cost of revenues includes contingent legal fees directly associated with our licensing and enforcement programs. Cost of revenues increased largely in proportion to increase in revenues.
Selling, general and administrative expenses ("SG&A") consisted primarily of legal fees incurred in operations and employee headcount related expenses. These comprise approximately 74% of total SG&A expense. Litigation expenses increased $4.2 million to $16.5 million in 2018 compared to 2017 and are primarily due to the timing of various outstanding litigation actions. See "Item 3. Legal Proceedings". Employee headcount related expenses increased $1.8 million to $7.2 million in 2018 compared to 2017, and is primarily due to incentive bonuses earned during the year. The balance of SG&A expenses include consulting, other professional services, facilities and other administrative fees and expenses.
Research and Development expenses ("R&D") are primarily from our Finjan Mobile security business and increased by $0.6 million to $2.1 million in 2018 compared to 2017, as we continue to position this business for future growth.
Other income (expense) is primarily due to changes in the fair value of the warrant liability of $3.4 million in 2018 versus a benefit of $2.2 million in 2017, and interest expense of $0.6 million in 2018, net.
We recognized an income tax expense of $8.1 million on pre-tax income of $28.7 million in 2018 as compared to a benefit from the reduction in the valuation allowance of $6.2 million in 2017.
Table:
 |  | For the Year Ended December 31, |  | 
 | 2018 | 2017 | Change | % Change
 |  | (In millions, except percentages) |  | 
Revenues | $82.3 | $50.5 | $31.8 | 63%
Cost of revenues | 15.3 | 6.0 | 9.3 | 155%
Gross profit | 67.0 | 44.5 | 22.5 | 51%
Gross margin | 81% | 88% |  | 
Operating expenses: |  |  |  | 
Selling, general and administrative | 32.2 | 28.6 | 3.6 | 13%
Research and development | 2.1 | 1.5 | 0.6 | 40%
Total operating expenses | 34.3 | 30.1 | 4.2 | 14%
Other income (expense) | (4.0) | 2.2 | (6.2) | (282)%
Income before income taxes | 28.7 | 16.6 | 12.1 | 73%
Income tax provision (benefit) | 8.0 | (6.2) | 14.2 | (229)%
Net income | $20.7 | $22.8 | $(2.1) | (9)%


Question: What is the value of R&D expenses as a percentage of the cost of revenues in 2018?
Answer: 13.73
Calculation: 2.1/15.3
ITEM 6. SELECTED FINANCIAL DATA.
The following selected financial data has been derived from our audited financial statements. This data should be read in conjunction with Item 7— “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and our financial statements and related notes thereto included elsewhere in this Form 10-K. Our historical results are not necessarily indicative of operating results to be expected in the future.
Table:
Selected Financial Data (in thousands, except per share data) |  |  |  |  | 
 |  |  | Year Ended September 30, |  | 
 | 2019 | 2018 | 2017 | 2016 | 2015
Income Statement Data |  |  |  |  | 
Revenue | $84,590 | $63,559 | $45,390 | $34,701 | $25,367
Operating income (loss) | $(4,590) | $(7,806) | $2,769 | $1,824 | $1,892
Net income (loss) | $(724) | $(11,807) | $14,092 | $1,959 | $2,526
Net income (loss) per share—basic | $(0.02) | $(0.33) | $0.43 | $0.06 | $0.08
Net income (loss) per share—diluted | $(0.02) | $(0.33) | $0.40 | $0.06 | $0.08
Balance Sheet Data |  |  |  |  | 
Working capital | $34,082 | $17,221 | $41,342 | $31,980 | $24,005
Total assets | $135,897 | $127,150 | $71,719 | $48,385 | $38,746
Other borrowings | $556 | $810 | $— | $— | $—
Stockholders’ equity | $107,333 | $95,394 | $61,408 | $39,485 | $30,433


Question: In which year did the company earn the highest net income?
Answer: 2017
Calculation: $ 14,092>$ 2,526>$ 1,959>$ (724)> $ (11,807)
On a sequential basis, ADG revenues were up 3.3%, driven by an increase in volumes of approximately 8%, partially offset by a decrease in average selling prices of approximately 5%, mostly attributable to product mix.
AMS revenues increased 12.1% driven by Analog and Imaging products. AMS increase was due to an increase of approximately 5% in average selling prices, entirely due to product mix, and to higher volumes of approximately of 7%.
MDG revenues increased by 7.9%, mainly driven by Microcontrollers, due to both higher average selling prices of approximately 6%, entirely due to product mix, and higher volumes of approximately 2%.
On a year-over-year basis, fourth quarter net revenues increased by 4.0%. ADG revenues decreased 4.5% compared to the year-ago quarter on lower revenues in both Automotive and Power Discrete. The decrease was entirely due to lower average selling prices of approximately 4%, while volumes remained substantially flat. The decrease in average selling prices was a combination of less favorable product mix and lower selling prices.
AMS fourth quarter revenues grew 9.9% year-over-year, mainly driven by Analog and Imaging. The increase was entirely due to higher average selling prices of approximately 18%, entirely attributable to product mix,
partially offset by lower volumes of approximately 8%. MDG fourth quarter revenues increased by 7.6%, mainly driven by Microcontrollers. The increase was due to higher average selling prices of approximately 9%,
entirely due to improved product mix.
Table:
 |  | Three Months Ended |  | % Variation | 
 | December 31, 2019 | September 29, 2019 | December 31, 2018 | Sequential | Year-Over-Year
 |  |  | (Unaudited, in millions) |  | 
Automotive and Discrete Group (ADG) | $924 | $894 | $967 | 3.3% | (4.5)%
Analog, MEMS and Sensors Group (AMS) | 1,085 | 968 | 988 | 12.1 | 9.9
Microcontrollers and Digital ICs Group (MDG) | 742 | 688 | 689 | 7.9 | 7.6
Others | 3 | 3 | 4 | — | —
Total consolidated net revenues | $2,754 | $2,553 | $2,648 | 7.9% | 4.0%


Question: What is the average net revenues from Analog, MEMS and Sensors Group (AMS) for the period December 31, 2019 and 2018?
Answer: 1036.5
Calculation: (1,085+988) / 2
the company further presents total net 201ceconomic 201d investment exposure , net of deferred compensation investments and hedged investments , to reflect another gauge for investors as the economic impact of investments held pursuant to deferred compensation arrangements is substantially offset by a change in compensation expense and the impact of hedged investments is substantially mitigated by total return swap hedges . carried interest capital allocations are excluded as there is no impact to blackrock 2019s stockholders 2019 equity until such amounts are realized as performance fees . finally , the company 2019s regulatory investment in federal reserve bank stock , which is not subject to market or interest rate risk , is excluded from the company 2019s net economic investment exposure . ( dollar amounts in millions ) december 31 , december 31 .

Table:
( dollar amounts in millions ) | december 31 2012 | december 31 2011
total investments gaap | $ 1750 | $ 1631
investments held by consolidated sponsored investmentfunds ( 1 ) | -524 ( 524 ) | -587 ( 587 )
net exposure to consolidated investment funds | 430 | 475
total investments as adjusted | 1656 | 1519
federal reserve bank stock ( 2 ) | -89 ( 89 ) | -328 ( 328 )
carried interest | -85 ( 85 ) | -21 ( 21 )
deferred compensation investments | -62 ( 62 ) | -65 ( 65 )
hedged investments | -209 ( 209 ) | -43 ( 43 )
total 201ceconomic 201d investment exposure | $ 1211 | $ 1062
total 201ceconomic 201d investment exposure .
.
.
$ 1211 $ 1062 ( 1 ) at december 31 , 2012 and december 31 , 2011 , approximately $ 524 million and $ 587 million , respectively , of blackrock 2019s total gaap investments were maintained in sponsored investment funds that were deemed to be controlled by blackrock in accordance with gaap , and , therefore , are consolidated even though blackrock may not economically own a majority of such funds .
( 2 ) the decrease of $ 239 million related to a lower holding requirement of federal reserve bank stock held by blackrock institutional trust company , n.a .
( 201cbtc 201d ) .
total investments , as adjusted , at december 31 , 2012 increased $ 137 million from december 31 , 2011 , resulting from $ 765 million of purchases/capital contributions , $ 185 million from positive market valuations and earnings from equity method investments , and $ 64 million from net additional carried interest capital allocations , partially offset by $ 742 million of sales/maturities and $ 135 million of distributions representing return of capital and return on investments. .

Question: what is the percentage change in the balance of total 201ceconomic 201d investment exposure from 2011 to 2012?
Answer: 14.0%
Calculation: subtract(1211, 1062), divide(#0, 1062)