hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
Valuation and Qualifying Accounts
Following is our schedule of valuation and qualifying accounts for the last three years (in thousands):
(1) Amounts under “Other” represent the reserves and valuation allowance assumed in acquisition of LoJack.
The warranty reserve is included in the Other Current Liabilities in the consolidated balance sheets.
(2) Amount under “Other” represents the valuation allowance previously netted against deferred tax assets of foreign net deferred tax assets not recorded on the balance sheet, which were disclosed narratively in the fiscal 2018 Form 10-K (see Note 12). Deferred tax assets and valuation allowances were grossed up by $15.1 million.
Table:
 |  | Charged |  |  | 
 |  | (credited) |  |  | 
 | Balance at | to costs |  |  | Balance at
 | beginning | and |  |  | end of
 | of year | expenses | Deductions | Other | year
Allowance for doubtful accounts: |  |  |  |  | 
Fiscal 2017 | 622 | 541 | (201) | - | 962
Fiscal 2018 | 962 | 685 | (461) | - | 1,186
Fiscal 2019 | 1,186 | 1,230 | (660) |  | 1,756
Warranty reserve: |  |  |  |  | 
Fiscal 2017 (1) | 1,892 | 1,305 | (2,562) | 5,883 | 6,518
Fiscal 2018 | 6,518 | 1,331 | (2,115) | - | 5,734
Fiscal 2019 | 5,734 | 1,126 | (5,462) |  | 1,398
Deferred tax assets valuation allowance: |  |  |  |  | 
Fiscal 2017 (1) | 1,618 | 1,391 | - | 3,578 | 6,587
Fiscal 2018 (2) | 6,587 | - | (4,835) | 15,092 | 16,844
Fiscal 2019 | 16,844 | 799 | (6,714) | - | 10,929


Question: What was the warranty reserve balance at the beginning of fiscal year 2018?
Answer: 6,518
The Company estimates the fair values of stock options using the Black-Scholes option-pricing model on the date of grant.For the years ended December 31, 2019 and 2018, the assumptions used in the Black-Scholes option pricing model, which was used to estimate the grant date fair value per option, were as follows:
The risk-free interest rate is the United States Treasury rate for the day of the grant having a term equal to the life of the equity instrument. The volatility is a measure of the amount by which the Company’s share price has fluctuated or is expected to fluctuate; the Company used its common stock volatility along with the average of historic volatilities of comparative companies. The dividend yield is zero as the Company has not made any dividend payment and has no plans to pay dividends in the foreseeable future. The Company determines the expected term of its stock option awards by using the simplified method, which assumes each vesting tranche of the award has a term equal to average of the contractual term and the vesting period.
As of December 31, 2019, total compensation cost not yet recognized related to unvested stock options was approximately $0.8 million, which is expected to be recognized over a weighted-average period of 2.3 years.
Table:
 | 2019 | 2018
 | Employee Grants | Employee Grants
Weighted-average Black-Scholes option pricing model assumptions: |  | 
Volatility | 73.01% | 82.00%
Expected term (in years) | 6 | 6
Risk-free rate | 2.22% | 2.24%
Expected dividend yield | 0.0% | 0.0%
Weighted average grant date fair value per share | $2.10 | $2.22


Question: What are the respective volatility of the 2018 and 2019 employee grants?
Answer: 82.00%, 73.01%
7. Balance Sheet Details
Cash, cash equivalents, and restricted cash consist of the following:
As of December 31, 2019 and December 31, 2018, cash and cash equivalents included $20.4 million and $0 of money market funds, respectively. As of December 31, 2019 and 2018, the Company has restricted cash of $0.4 million and $1.0 million, respectively. The cash is restricted in connection with guarantees for certain import duties and office leases.
Table:
 | December 31, 2019 | December 31, 2018
(in thousands) |  | 
Cash and cash equivalents | $92,708 | $73,142
Short-term restricted cash | 349 | 645
Long-term restricted cash | 60 | 404
Total cash, cash equivalents and restricted cash | $93,117 | $74,191


Question: In what respect is cash restricted?
Answer: restricted in connection with guarantees for certain import duties and office leases.
Note 13. INCOME TAXES
In the year ended December 29, 2019, our income tax provision of $26.6 million on a profit before income taxes and equity in earnings (losses) of unconsolidated investees of $26.0 million was primarily due to tax expense in foreign jurisdictions that were profitable. In the year ended December 30, 2018, our income tax provision of $1.0 million on a loss before income taxes and equity in earnings of unconsolidated investees of $898.7 million was primarily due to tax expense in foreign jurisdictions that were profitable, offset by tax benefit related to release of valuation allowance in a foreign jurisdiction, and by a release of tax reserves due to lapse of statutes of limitation.
The geographic distribution of income (loss) from continuing operations before income taxes and equity earnings (losses) of unconsolidated investees and the components of provision for income taxes are summarized below:
Table:
 |  | Fiscal Year | 
(In thousands) | December 29, 2019 | December 30, 2018 | December 31, 2017
Geographic distribution of income (loss) from continuing operations before income taxes and equity in earnings of unconsolidated investees: |  |  | 
U.S. loss | $(84,071) | $(778,316) | $(1,242,000)
Non-U.S. income (loss) | 110,040 | (120,355) | 41,250
Income (loss) before income taxes and equity in earnings (loss) of unconsolidated investees | $25,969 | $(898,671) | $(1,200,750)
Provision for income taxes: |  |  | 
Current tax (expense) benefit |  |  | 
Federal | $(328) | $(1,155) | $6,816
State | (370) | (553) | 6,575
Foreign | (24,588) | (4,100) | (12,074)
Total current tax (expense) benefit | (25,286) | (5,808) | 1,317
Deferred tax (expense) benefit |  |  | 
Federal | (100) | — | —
State | — | — | 1,450
Foreign | (1,245) | 4,798 | 1,177
Total deferred tax (expense) benefit | (1,345) | 4,798 | 2,627
(Provision for) benefit from income taxes | (26,631) | $(1,010) | $3,944


Question: What was the change in federal deferred tax  benefit from 2018 to 2019?
Answer: -100
Calculation: -100 - 0
Note 7 — Inventories, net
Inventories are used in the manufacture and service of Restaurant/Retail products. The components of inventory, net consist of the following:
At December 31, 2019 and 2018, the Company had recorded inventory write-downs of $9.6 million and $9.8 million , respectively, against Restaurant/Retail inventories, which relate primarily to service parts.
Table:
 | December 31, | 
 | (in thousands) | 
 | 2019 | 2018
Finished Goods | $8,320 | $12,472
Work in process | — | 67
Component parts | 6,768 | 4,716
Service parts | 4,238 | 5,482
 | $19,326 | $22,737


Question: What is the change in Finished Goods between December 31, 2018 and 2019?
Answer: -4152
Calculation: 8,320-12,472
Free Cash Flow
Free cash flow is a non-IFRS financial measure that we calculate as net cash provided by operating activities less net cash used in investing activities for capital expenditures.
Free cash flow increased by $140.9 million during the fiscal year ended June 30, 2019 due to a $154.9 million increase of net cash provided by operating activities, offset by a $14.0 million increase of capital expenditures as we continue to invest in our facilities.
For more information about net cash provided by operating activities, please see “Liquidity and Capital Resources”.
Table:
 |  | Fiscal Year Ended June 30, | 
 | 2019 | 2018 | 2017
Net cash provided by operating activities | $466,342 | $311,456 | $199,381
Less: Capital expenditures | (44,192) | (30,209) | (15,129)
Free cash flow | $422,150 | $281,247 | $184,252


Question: What was the increase in free cash flow between fiscal year 2018 and 2019?
Answer: $140.9 million
2.1 Segment information
Segment information is based on the information that management uses to make decisions about operating matters and allows users to review operations through the eyes of management. We present our reportable segments and measure our segment results on continuing operations basis, i.e. the same basis as our internal management reporting structure.
We have four reportable segments which offer a service that includes comparison, purchase support and lead referrals across:
• Health (private health insurance),
• Life and General Insurance,
• Energy and Telecommunications, and
• Other, predominately offering financial service products including home loans in Australia and Asia.
In the current year, unallocated corporate costs include costs associated with the business restructure and other one-off transactions.
1 Non-current assets other than financial instruments and deferred tax assets.
Table:
 | AUSTRALIA | ASIA | TOTAL
 | $’000 | $’000 | $’000
30 June 2019 |  |  | 
Revenue | 149,295 | 4,864 | 154,159
Non-current assets1 | 44,061 | 15,899 | 59,960
30 June 2018 |  |  | 
Revenue | 174,776 | 2,155 | 176,931
Non-current assets1 | 49,235 | 15,245 | 64,480


Question: What are the four reportable segments which offer a service that includes comparison, purchase support and lead referrals?
Answer: Health (private health insurance), Life and General Insurance, Energy and Telecommunications, Other, predominately offering financial service products including home loans in Australia and Asia
GasLog Ltd. and its Subsidiaries
Notes to the consolidated financial statements (Continued)
For the years ended December 31, 2017, 2018 and 2019
(All amounts expressed in thousands of U.S. Dollars, except share and per share data)
16. Voyage Expenses and Commissions
An analysis of voyage expenses and commissions is as follows:
Bunkers’ consumption and other voyage expenses represents mainly bunkers consumed during vessels’ unemployment and off-hire.
Table:
 |  | For the year ended December 31, | 
 | 2017 | 2018 | 2019
Brokers’ commissions on revenue | 6,456 | 7,555 | 7,527
Bunkers’ consumption and other voyage expenses | 8,948 | 12,819 | 16,245
Total | 15,404 | 20,374 | 23,772


Question: What was the brokers' commissions on revenue in 2017?
Answer: 6,456
Supported by a recovery in commodity-related markets, orders and revenue showed broad-based growth year-over-year with strongest increases in the mechanical drives business. Overall, Portfolio Companies businesses made good progress in achieving their targets. Adjusted EBITA improved in all fully consolidated units and turned positive in total, mainly driven by the large drives applications business.
The result from equity investments in total also improved slightly, though it was negative in both periods under review. Severance charges decreased to € 14 million, from € 86 million in fiscal 2018. Portfolio Companies’ order backlog was € 5 billion at the end of the fiscal year, of which € 3 billion are expected to be converted into revenue in fiscal 2020. Regarding Portfolio Companies’ at-equity investments, volatile results are expected in coming quarters.
Markets for Portfolio Companies are generally impacted by rising uncertainties regarding geopolitical and economic developments, which weaken investment sentiment. Although the broad range of businesses are operating in diverse markets, overall, moderate growth is expected in the coming years for the main markets served by the Portfolio Companies.
Beginning with fiscal 2020, the equity investments Ethos Energy Group Limited and Voith Hydro Holding GmbH & Co. KG, the subsea business, and the majority of the process solutions business will be transferred to the Operating Company Gas and Power. If this organizational structure had already existed in fiscal 2019, Portfolio Companies would have posted orders of € 4.746 billion, revenue of € 4.558 billion and Adjusted EBITA of €(115) million.
Mitsubishi-Hitachi Metals Machinery (MHMM) and Siemens AG reached an agreement in September 2019, that MHMM will acquire Siemens’ stake in Primetals Technologies. Closing of the transaction is subject to customary conditions and is expected by the beginning of calendar 2020.
Table:
 |  | Fiscal year |  | % Change
(in millions of €) | 2019 | 2018 | Actual | Comp.
Orders | 5,806 | 5,569 | 4 % | 3 %
Revenue | 5,526 | 4,930 | 12 % | 11 %
Adjusted EBITA | (71) | (305) | 77 % | 
Adjusted EBITA margin | (1.3) % | (6.2) % |  | 


Question: What is the increase / (decrease) in the Adjusted EBITDA margin from 2018 to 2019?
Answer: -4.9
Calculation: (1.3%) - (6.2%)
Balance sheet
Under IAS 12 Income Taxes, provision is made for the deferred tax assets and liabilities associated with the revaluation of assets and liabilities at the corporate tax rate expected to apply to the Group at the time the temporary differences are expected to reverse. For those UK assets and liabilities benefiting from REIT exemption the relevant tax rate will be 0 per cent (2018: 0 per cent), and for other UK assets and liabilities the relevant rate will be 19 per cent if the temporary difference is expected to be realised before 1 April 2020 and 17 per cent if it is expected to be realised on or after 1 April 2020 (2018: 19 per cent before 1 April 2020, 17 per cent thereafter). For Spanish assets and liabilities the relevant tax rate will be 25 per cent (2018: 25 per cent).
Movements in the provision for deferred tax:
The net deferred tax provision of £0.9 million predominantly arises in respect of the revaluation of development property at intu Costa del Sol, partially offset by associated tax losses.
Table:
£m | Investment and development property | Other temporary differences | Total
Provided deferred tax provision/(asset): |  |  | 
At 1 January 2018 | 24.6 | (0.9) | 23.7
Recognised in the income statement | (5.5) | (0.3) | (5.8)
Foreign exchange movements | 0.1 | – | 0.1
At 31 December 2018 | 19.2 | (1.2) | 18.0
Recognised in the income statement | (16.4) | (0.2) | (16.6)
Foreign exchange movements | (0.5) | – | (0.5)
At 31 December 2019 | 2.3 | (1.4) | 0.9


Question: What is the percentage change in the provided deferred tax provision for investment and development property from 31 December 2018 to 31 December 2019?
Answer: -88.02
Calculation: (2.3-19.2)/19.2
IBM Working Capital
Working capital decreased $10,200 million from the year-end
2018 position. The key changes are described below:
Current assets decreased $10,726 million ($10,477 million adjusted for currency) due to: • A decline in receivables of $6,769 million ($6,695 million adjusted for currency) driven by a decline in financing receivables of $8,197 million primarily due to the wind down of OEM IT commercial financing operations; partially offset by an increase in other receivables of $989 million primarily related to divestitures; and • A decrease of $3,213 million ($3,052 million adjusted for currency) in cash and cash equivalents, restricted cash, and marketable securities primarily due to retirement of debt.
Current liabilities decreased $526 million ($449 million adjusted
for currency) as a result of:
• A decrease in accounts payable of $1,662 million primarily due to the wind down of OEM IT commercial financing operations; and • A decrease in short-term debt of $1,410 million due to maturities of $12,649 million and a decrease in commercial paper of $2,691 million; partially offset by reclassifications of $7,592 million from long-term debt to reflect upcoming maturities and issuances of $6,334 million; offset by • An increase in operating lease liabilities of $1,380 million as a result of the adoption of the new leasing standard on January 1, 2019; and • An increase in deferred income of $861 million ($890 million adjusted for currency).
Table:
($ in millions) |  | 
At December 31: | 2019 | 2018
Current assets | $38,420 | $49,146
Current liabilities | 37,701 | 38,227
Working capital | $   718 | $10,918
Current ratio | 1.02:1 | 1.29:1


Question: What caused the current assets to decrease?
Answer: A decline in receivables of $6,769 million ($6,695 million adjusted for currency) driven by a decline in financing receivables of $8,197 million primarily due to the wind down of OEM IT commercial financing operations; partially offset by an increase in other receivables of $989 million primarily related to divestitures; and • A decrease of $3,213 million ($3,052 million adjusted for currency) in cash and cash equivalents, restricted cash, and marketable securities primarily due to retirement of debt.
At December 31, 2019 and 2018, $21 million and $20 million, respectively, of unrecognized tax benefits were classified as a reduction of deferred tax assets. The finalisation in the fourth quarter of 2018 of pending tax litigations triggered the reversal of uncertain tax positions in major tax jurisdictions for a total amount of $310 million.
It is reasonably possible that certain of the uncertain tax positions disclosed in the table above could increase within the next 12 months due to ongoing tax audits. The Company is not able to make an estimate of the range of the reasonably possible change.
Additionally, the Company elected to classify accrued interest and penalties related to uncertain tax positions as components of income tax expense in the consolidated statements of income, they were less than $1 million in 2019, $1 million in 2018, less than $1 million in 2017, $1 million in 2016, $1 million in 2015, $27 million in 2014 and not material in the previous years. Accrued interest and penalties amounted to $6 million at December 31, 2019 and $5 million at December 31, 2018.
The tax years that remain open for review in the Company’s major tax jurisdictions, including France, Italy, United States and India, are from 1997 to 2019.
Table:
 | December 31, 2019 | December 31, 2018 | December 31, 2017
Balance at beginning of year | 38 | 333 | 258
Additions based on tax positions related to the current year | 7 | 43 | 43
Additions based on acquisitions related to the current year | 5 | — | —
Additions for tax positions of prior years | 1 | 8 | 12
Reduction for tax positions of prior years | (1) | (310) | (9)
Settlements | (2) | (18) | (2)
Prepayment / Refund | — | — | —
Reductions due to lapse of statute of limitations | — | — | —
Foreign currency translation | — | (18) | 31
Balance at end of year | 48 | 38 | 333


Question: What is the increase/ (decrease) in Balance at beginning of year from December 31, 2018 to 2019?
Answer: -295
Calculation: 38-333
Note 5 – Goodwill and Intangible Assets
Goodwill and indefinite-lived intangible assets consisted of the following:
Goodwill
The Company performed the annual impairment assessment of goodwill for our single reporting unit as of December 31, 2019, noting no impairment loss. The fair value exceeded the carrying value by 2.4%. Considerable management judgment is necessary to evaluate goodwill for impairment. We estimate fair value using widely accepted valuation techniques including discounted cash flows and market multiples analysis with respect to our single reporting unit. These valuation approaches are dependent upon a number of factors, including estimates of future growth rates, our cost of capital, capital expenditures, income tax rates, and other variables. Assumptions used in our valuations were consistent with our internal projections and operating plans. Our discounted cash flows forecast could be negatively impacted by a change in the competitive landscape, any internal decisions to pursue new or different strategies, a loss of a significant customer, or a significant change in the market place including changes in the prices paid for our products or changes in the size of the market for our products. Additionally, under the market approach analysis, we used significant other observable inputs including various guideline company comparisons. We base our fair value estimates on assumptions we believe to be reasonable, but which are unpredictable and inherently uncertain. Changes in these estimates or assumptions could materially affect the determination of fair value and the conclusions of the quantitative goodwill test for our one reporting unit.
Indefinite-lived Intangible Assets
The Company performed the annual impairment assessment on the indefinite-lived intangible asset as of December 31, 2019 and 2018, resulting in no impairment losses.
Table:
 |  | December 31,
 | 2019 | 2018
Goodwill | $ 10,368 | $ 10,368
Accumulated impairment losses | (1,244 ) | (1,244 )
Goodwill | 9,124 | 9,124
Brand names | 3,700 | 3,700
Goodwill and indefinite lived intangible assets | $ 12,824 | $ 12,824


Question: What is the average goodwill and indefinite lived intangible assets for 2018 and 2019?
Answer: 12824
Calculation: (12,824+12,824)/2
the following table provides the weighted average assumptions used in the black-scholes option-pricing model for grants and the resulting weighted average grant date fair value per share of stock options granted for the years ended december 31: .

Table:
 | 2018 | 2017 | 2016
intrinsic value | $ 9 | $ 10 | $ 18
exercise proceeds | 7 | 11 | 15
income tax benefit realized | 2 | 3 | 6
stock units during 2018 , 2017 and 2016 , the company granted rsus to certain employees under the 2007 plan and 2017 omnibus plan , as applicable .
rsus generally vest based on continued employment with the company over periods ranging from one to three years. .

Question: at what tax rate was exercise proceeds taxed at in 2018?
Answer: 28.6%
Calculation: multiply(2, 7)
item 5 . market for the registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities the following graph compares annual total return of our common stock , the standard & poor 2019s 500 composite stock index ( 201cs&p 500 index 201d ) and our peer group ( 201cloews peer group 201d ) for the five years ended december 31 , 2016 . the graph assumes that the value of the investment in our common stock , the s&p 500 index and the loews peer group was $ 100 on december 31 , 2011 and that all dividends were reinvested. .

Table:
 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016
loews common stock | 100.0 | 108.91 | 129.64 | 113.59 | 104.47 | 128.19
s&p 500 index | 100.0 | 116.00 | 153.57 | 174.60 | 177.01 | 198.18
loews peer group ( a ) | 100.0 | 113.39 | 142.85 | 150.44 | 142.44 | 165.34
( a ) the loews peer group consists of the following companies that are industry competitors of our principal operating subsidiaries : chubb limited ( name change from ace limited after it acquired the chubb corporation on january 15 , 2016 ) , w.r .
berkley corporation , the chubb corporation ( included through january 15 , 2016 when it was acquired by ace limited ) , energy transfer partners l.p. , ensco plc , the hartford financial services group , inc. , kinder morgan energy partners , l.p .
( included through november 26 , 2014 when it was acquired by kinder morgan inc. ) , noble corporation , spectra energy corp , transocean ltd .
and the travelers companies , inc .
dividend information we have paid quarterly cash dividends in each year since 1967 .
regular dividends of $ 0.0625 per share of loews common stock were paid in each calendar quarter of 2016 and 2015. .

Question: what is the roi of an investment in s&p500 index from 2011 to 2012?
Answer: 16%
Calculation: subtract(116.00, const_100), divide(#0, const_100)