hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
This section presents the Group’s contractual obligation to make a payment in the future in relation to purchases of property, plant and equipment, and lease commitments.
Capital expenditure and operating lease commitments of the Group at the reporting date are as follows:
The commitments set out above do not include contingent turnover rentals, which are charged on many retail premises leased by the Group. These rentals are calculated as a percentage of the turnover of the store occupying the premises, with the percentage and turnover threshold at which the additional rentals commence varying with each lease agreement.
The Group leases retail premises and warehousing facilities which are generally for periods up to 40 years. The operating lease commitments include leases for the Norwest office and distribution centres. Generally the lease agreements are for initial terms of between five and 25 years and most include multiple renewal options for additional five to 10-year terms. Under most leases, the Group is responsible for property taxes, insurance, maintenance, and expenses related to the leased properties. However, many of the more recent lease agreements have been negotiated on a gross or semi-gross basis, which eliminates or significantly reduces the Group’s exposure to operational charges associated with the properties.
From 1 July 2019, the Group adopted AASB 16 Leases and as a result the operating lease commitments set out above have been recognised in the Consolidated Statement of Financial Position, with the exception of the service component of lease payments. Refer to Note 1.2.6 for a reconciliation between the operating lease commitments at 30 June 2019 and the lease liabilities recognised at 1 July 2019.
Table:
 | 2019 | 2018
 | $M | $M
Capital expenditure commitments |  | 
Estimated capital expenditure under firm contracts, payable: |  | 
Not later than one year | 398 | 416
Later than one year, not later than two years | – | –
Later than two years, not later than five years | – | –
Total capital expenditure commitments | 398 | 416
Operating lease commitments |  | 
Future minimum rentals under non-cancellable operating leases, payable: |  | 
Not later than one year | 1,998 | 2,089
Later than one year, not later than five years | 7,415 | 7,484
Later than five years | 12,378 | 13,331
Total operating lease commitments | 21,791 | 22,904
Total commitments for expenditure | 22,189 | 23,320


Question: What is the average total commitments for expenditures for 2018 and 2019?
Answer: 22754.5
Calculation: (22,189 + 23,320)/2
OPERATING AND FINANCIAL RESULTS
(1) For the three-month period ended August 31, 2019, the average foreign exchange rate used for translation was 1.3222 USD/CDN.
(2) Fiscal 2018 was restated to comply with IFRS 15 and to reflect a change in accounting policy as well as to reclassify results from Cogeco Peer 1 as discontinued
operations. For further details, please consult the "Accounting policies" and "Discontinued operations" sections.
(3) Fiscal 2019 actuals are translated at the average foreign exchange rate of the comparable period of fiscal 2018 which was 1.3100 USD/CDN.
Table:
Three months ended August 31, | 2019 (1) | 2018 (2) | Change | Change in constant currency | Foreign exchange impact
(in thousands of dollars, except percentages) | $ | $ | % | % | $
Revenue | 583,673 | 566,184 | 3.1 | 2.7 | 2,427
Operating expenses | 302,833 | 297,977 | 1.6 | 1.1 | 1,441
Management fees – Cogeco Inc. | 5,230 | 4,796 | 9.0 | 9.0 | -
Adjusted EBITDA | 275,610 | 263,411 | 4.6 | 4.3 | 986
Adjusted EBITDA margin | 47.2% | 46.5% |  |  | 


Question: What was the increase / (decrease) in the revenue from three months ended August 31, 2018 to 2019?
Answer: 17489
Calculation: 583,673 - 566,184
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 it the increase / (decrease) in revenue from 2018 to 2019?
Answer: 95
Calculation: 8,916 - 8,821
8. Financing Receivables and Operating Leases
(a) Financing Receivables
Financing receivables primarily consist of lease receivables, loan receivables, and financed service contracts. Lease receivables represent sales-type and direct-financing leases resulting from the sale of Cisco’s and complementary third-party products and are typically collateralized by a security interest in the underlying assets. Lease receivables consist of arrangements with terms of four years on average. Loan receivables represent financing arrangements related to the sale of our hardware, software, and services, which may include additional funding for other costs associated with network installation and integration of our products and services. Loan receivables have terms of three years on average. Financed service contracts include financing receivables related to technical support and advanced services. Revenue related to the technical support services is typically deferred and included in deferred service revenue and is recognized ratably over the period during which the related services are to be performed, which typically ranges from one to three years.
A summary of our financing receivables is presented as follows (in millions):
Table:
July 27, 2019 | Lease Receivables | Loan Receivables | Financed Service Contracts | Total
Gross | $2,367 | $5,438 | $2,369 | $10,174
Residual value | 142 | — | — | 142
Unearned income | (137) | — | — | (137)
Allowance for credit loss | (46) | (71) | (9) | (126)
Total, net  . | $2,326 | $5,367 | $2,360 | $10,053
Reported as: |  |  |  | 
Current . | $1,029 | $2,653 | $1,413 | $5,095
Noncurrent | 1,297 | 2,714 | 947 | 4,958
Total, net  . | $2,326 | $5,367 | $2,360 | $10,053


Question: What was unearned income from lease receivables in 2019?
Answer: (137)
Deferred Revenue
The opening balances of current and long-term deferred revenue were $30,694 and $1,352, respectively, as of January 1, 2018.
Expressed in US $000's except share and per share amounts
Table:
 | Years ended | 
 | December 31, 2019 | December 31, 2018
 | $ | $
Current portion | 56,691 | 39,180
Long term portion | 5,969 | 1,881
 | 62,660 | 41,061


Question: What was the January 1, 2018 opening balance of current deferred revenue?
Answer: $30,694
visa inc . notes to consolidated financial statements 2014 ( continued ) september 30 , 2008 ( in millions , except as noted ) were converted on a one-to-one basis from class eu ( series i , ii , iii ) common stock to class c ( series iii , ii , and iv ) common stock concurrent with the true-up . the results of the true-up are reflected in the table below . fractional shares resulting from the conversion of the shares of each individual stockholder have been rounded down . these fractional shares were paid in cash to stockholders as part of the initial redemption of class b common stock and class c common stock shortly following the ipo . outstanding regional classes and series of common stock issued in the reorganization converted classes and series of common stock issued in the true-up number of regional classes and series of common stock issued in the reorganization true-up conversion number of converted classes and series of common stock after the true-up class usa ( 1 ) class b ( 2 ) 426390481 0.93870 400251872 .

Table:
outstanding regional classes and seriesof common stock issued inthe reorganization | converted classes and series of common stock issued in the true-up | number of regional classes and series of common stock issued in the reorganization | true-up conversion ratio | number of converted classes and series of common stock after the true-up
class usa ( 1 ) | class b ( 2 ) | 426390481 | 0.93870 | 400251872
class eu ( series i ) | class c ( series iii ) | 62213201 | 1.00000 | 62213201
class eu ( series ii ) | class c ( series ii ) | 27904464 | 1.00000 | 27904464
class eu ( series iii ) | class c ( series iv ) | 549587 | 1.00000 | 549587
class canada | class c ( series i ) | 22034685 | 0.98007 | 21595528
class ap | class c ( series i ) | 119100481 | 1.19043 | 141780635
class lac | class c ( series i ) | 80137915 | 1.07110 | 85835549
class cemea | class c ( series i ) | 36749698 | 0.95101 | 34949123
( 1 ) the amount of the class usa common stock outstanding prior to the true-up is net of 131592008 shares held by wholly-owned subsidiaries of the company .
( 2 ) the amount of the class b common stock outstanding subsequent to the true-up is net of 123525418 shares held by wholly-owned subsidiaries of the company .
also , the company issued 51844393 additional shares of class c ( series ii ) common stock at a price of $ 44 per share in exchange for a subscription receivable from visa europe .
this issuance and subscription receivable were recorded as offsetting entries in temporary equity on the company 2019s consolidated balance sheet at september 30 , 2008 .
initial public offering in march 2008 , the company completed its ipo with the issuance of 446600000 shares of class a common stock at a net offering price of $ 42.77 ( the ipo price of $ 44.00 per share of class a common stock , less underwriting discounts and commissions of $ 1.23 per share ) .
the company received net proceeds of $ 19.1 billion as a result of the ipo. .

Question: what is the difference in the number of class usa stock of pre and after true-up?
Answer: 26138609
Calculation: subtract(426390481, 400251872)
Cost of Revenues and Gross Margins
Cost of revenues consists primarily of manufacturing materials, payroll, shipping and handling costs, manufacturing-related overhead and amortization of certain intangible assets. Our manufacturing operations rely on a limited number of suppliers to provide key components and materials for our products, some of which are a sole source. We order materials and supplies based on backlog and forecasted customer orders.
Tooling and setup costs related to changing manufacturing lots at our suppliers are also included in the cost of revenues. We expense all warranty costs, inventory provisions and amortization of certain intangible assets as cost of revenues. Gross profit and gross margin by segment were as follows (dollars in thousands):
Probe Cards Gross profit in the Probe Cards segment increased in fiscal 2019 compared to fiscal 2018 primarily due to increased sales, offset by higher variable costs and by less favorable product mix.
Systems Gross profit and gross margin in the Systems segment increased in fiscal 2019 compared to fiscal 2018 due to increased sales.
Corporate and Other Corporate and Other includes unallocated expenses relating to amortization of intangible assets, share-based compensation, restructuring charges, net, and acquisition-related costs, including charges related to inventory stepped up to fair value and other costs, which are not used in evaluating the results of, or in allocating resources to, our reportable segments.
Overall Gross profit and gross margin fluctuate with revenue levels, product mix, selling prices, factory loading and material costs. For fiscal 2019 compared to fiscal 2018, gross profit increased due to increased sales while gross margins remained relatively consistent with fluctuations in product mix.
Stock-based compensation expense included in gross profit for fiscal 2019 and 2018 was $4.1 million and $3.5 million, respectively.
Table:
 |  | Fiscal 2019 |  | 
 | Probe Cards | Systems | Corporate and Other | Total
Gross profit | $211,382 | $50,927 | $(24,813) | $237,496
Gross margin | 43.0 % | 51.9 % | — % | 40.3 %
Fiscal 2018 |  |  |  | 
 | Probe Cards | Systems | Corporate and Other | Total
Gross profit | $187,320 | $47,074 | $(24,055) | $210,339
Gross margin | 43.1 % | 49.3 % | — % | 39.7 %
Fiscal 2017 |  |  |  | 
 | Probe Cards | Systems | Corporate and Other | Total
Gross profit | $195,903 | $46,647 | $(26,953) | $215,597
Gross margin | 43.1 % | 49.8 % | — % | 39.3 %


Question: What is the increase/ (decrease) in Gross profit of Systems from fiscal 2019 to 2018?
Answer: 3853
Calculation: 50,927-47,074
Deferred taxes arise because of differences in the book and tax bases of certain assets and liabilities. Significant components of deferred tax assets and liabilities are as follows:
At December 31, 2019, undistributed earnings of our foreign subsidiaries indefinitely invested outside the U.S. amounted to approximately $3.8 billion. The majority of Verizon’s cash flow is generated from domestic operations and we are not dependent on foreign cash or earnings to meet our funding requirements, nor do we intend to repatriate these undistributed foreign earnings to fund U.S. operations.
Furthermore, a portion of these undistributed earnings represents amounts that legally must be kept in reserve in accordance with certain foreign jurisdictional requirements and are unavailable for distribution or repatriation. As a result, we have not provided U.S. deferred taxes on these undistributed earnings because we intend that they will remain indefinitely reinvested outside of the U.S. and therefore unavailable for use in funding U.S. operations. Determination of the amount of unrecognized deferred taxes related to these undistributed earnings is not practicable.
At December 31, 2019, we had net after-tax loss and credit carry forwards for income tax purposes of approximately $3.0 billion that primarily relate to state and foreign taxes. Of these net after-tax loss and credit carry forwards, approximately $2.0 billion will expire between 2020 and 2039 and approximately $1.0 billion may be carried forward indefinitely.
During 2019, the valuation allowance decreased approximately $481 million. The balance of the valuation allowance at December 31, 2019 and the 2019 activity is primarily related to state and foreign taxes.
Table:
 |  | (dollars in millions)
At December 31, | 2019 | 2018
Deferred Tax Assets |  | 
Employee benefits | $ 5,048 | $ 5,403
Tax loss and credit carry forwards | 3,012 | 3,576
Other – assets | 5,595 | 1,650
 | 13,655 | 10,629
Valuation allowances | (2,260) | (2,741)
Deferred tax assets | 11,395 | 7,888
Deferred Tax Liabilities |  | 
Spectrum and other intangible amortization | 22,388 | 21,976
Depreciation | 16,884 | 15,662
Other—liabilities | 6,742 | 3,976
Deferred tax liabilities | 46,014 | 41,614
Net deferred tax liability | $ 34,619 | $ 33,726


Question: What was the undistributed earnings of foreign subsidiary invested outside the US amounted to in 2019?
Answer: $3.8 billion
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: What was the change in the Average invested capital less average impairment in 2019 from 2018?
Answer: 103.2
Calculation: 1,725.9-1,622.7
OUTSTANDING COMMON SHARES
1 Holders of our Class B Non-Voting Shares are entitled to receive notice of and to attend shareholder meetings; however, they are not entitled to vote at these meetings except as required by law or stipulated by stock exchanges. If an offer is made to purchase outstanding Class A Shares, there is no requirement under applicable law or our constating documents that an offer be made for the outstanding Class B Non-Voting Shares, and there is no other protection available to shareholders under our constating documents. If an offer is made to purchase both classes of shares, the offer for the Class A Shares may be made on different terms than the offer to the holders of Class B Non-Voting Shares.
As at February 29, 2020, 111,154,811 Class A Shares, 393,770,507
Class B Non-Voting Shares, and 3,145,274 options to purchase
Class B Non-Voting Shares were outstanding.
Table:
 | As at December 31 | 
 | 2019 | 2018
Common shares outstanding 1 |  | 
Class A Voting | 111,154,811 | 111,155,637
Class B Non-Voting | 393,770,507 | 403,657,038
Total common shares | 504,925,318 | 514,812,675
Options to purchase Class B |  | 
Non-Voting Shares |  | 
Outstanding options | 3,154,795 | 2,719,612
Outstanding options exercisable | 993,645 | 1,059,590


Question: What was the percentage increase / (decrease) in Total common shares from 2018 to 2019?
Answer: -1.92
Calculation: 504,925,318 / 514,812,675 - 1
PSUs – Total Shareholder Return (TSR)
The PSUs granted based on TSR are contingently awarded and will be payable in shares of the Company’s common stock subject to the condition that the number of PSUs, if any, earned by the employees upon the expiration of a three-year award performance period is dependent on the Company’s TSR ranking relative to a peer group of companies. The fair value of the PSUs based on TSR was estimated on the grant date using a Monte Carlo Simulation. Other assumptions include the expected volatility of all companies included in the TSR, the historical share price returns analysis of all companies included in the TSR and assumes dividends are reinvested. The expected volatility was based on the historical volatility for a period of time that approximates the duration between the valuation date and the end of the performance period. The risk-free interest rate is based on the Zero-Coupon Treasury STRIP yield curve matching the term from the valuation date to the end of the performance period. Compensation expense for the PSUs based on TSR (which is considered a market condition) is a fixed amount determined at the grant date fair value and is recognized 100% over the three-year award performance period regardless of whether PSUs are awarded at the end of the award performance period.
The number of PSUs granted based on TSR and the assumptions used to calculate the grant date fair value of the PSUs based on TSR are shown in the following table:
(1) For 2019, this represents the weighted average fair value for PSU awards approved during the first and third quarter.
(2) For 2019, values represent weighted average assumptions for PSU awards approved during the first and third quarter.
(3) On May 18, 2017, the O&C Committee approved a change in the vesting policy regarding the existing 2017 Three year PSU Awards for Ilham Kadri. The modified vesting terms resulted in award modification accounting treatment. The weighted average fair value on grant date reflects the impact of the fair value on date of modification for these awards.
Table:
 | 2019 | 2018 | 2017
Number of units granted | 70,543 | 56,829 | 100,958
Weighted average fair value on grant date(1) (3) | $ 57.53 | $ 43.40 | $ 44.24
Expected Price volatility(2) | 22.86% | 22.00% | 25.31 %
Risk-free interest rate(2) | 2.36% | 2.00% | 1.56 %


Question: What does the table represent?
Answer: The number of PSUs granted based on TSR and the assumptions used to calculate the grant date fair value of the PSUs based on TSR
Note 9 Earnings per share
The following table shows the components used in the calculation of basic and diluted earnings per common share for earnings attributable to common shareholders.
(1) The calculation of the assumed exercise of stock options includes the effect of the average unrecognized future compensation cost of dilutive options. It excludes options for which the exercise price is higher than the average market value of a BCE common share. The number of excluded options was 61,170 in 2019 and 12,252,594 in 2018.
Table:
FOR THE YEAR ENDED DECEMBER 31 | 2019 | 2018
Net earnings attributable to common shareholders – basic | 3,040 | 2,785
Dividends declared per common share (in dollars) | 3.17 | 3.02
Weighted average number of common shares outstanding (in millions) |  | 
Weighted average number of common shares outstanding – basic | 900.8 | 898.6
Assumed exercise of stock options (1) | 0.6 | 0.3
Weighted average number of common shares outstanding – diluted (in millions) | 901.4 | 898.9


Question: What is the change in the number of excluded options in 2019?
Answer: -12191424
Calculation: 61,170-12,252,594
8. OTHER NON-CURRENT ASSETS
* relates to certain office lease contracts. Optional periods are not included in the calculation.
Table:
All figures in USD ‘000  | 2019 | 2018
Fixture, Furniture and Equipment | 65 | 128
Right of Use Asset* | 1,412 | -
Other   | 57 | 83
Total as of December 31,   | 1,534 | 211


Question: What is the value of the other non-current assets as at December 31, 2018 as a percentage of the value of other non-current assets in 2019?
Answer: 145.61
Calculation: 83/57