hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
vertex pharmaceuticals incorporated notes to consolidated financial statements ( continued ) d . stock-based compensation ( continued ) the company uses the black-scholes valuation model to estimate the fair value of stock options at the grant date . the black-scholes valuation model uses the option exercise price as well as estimates and assumptions related to the expected price volatility of the company 2019s stock , the period during which the options will be outstanding , the rate of return on risk-free investments , and the expected dividend yield for the company 2019s stock to estimate the fair value of a stock option on the grant date . the company validates its estimates and assumptions through consultations with independent third parties having relevant expertise . the fair value of each option granted under the stock and option plans during 2006 was estimated on the date of grant using the black- scholes option pricing model with the following weighted average assumptions : the weighted-average valuation assumptions were determined as follows : 2022 expected stock price volatility : in 2006 , the company changed its method of estimating expected volatility from relying exclusively on historical volatility to relying exclusively on implied volatility . options to purchase the company 2019s stock with remaining terms of greater than one year are regularly traded in the market . expected stock price volatility is calculated using the trailing one month average of daily implied volatilities prior to grant date . 2022 risk-free interest rate : the company bases the risk-free interest rate on the interest rate payable on u.s . treasury securities in effect at the time of grant for a period that is commensurate with the assumed expected option term . 2022 expected term of options : the expected term of options represents the period of time options are expected to be outstanding . the company uses historical data to estimate employee exercise and post-vest termination behavior . the company believes that all groups of employees exhibit similar exercise and post-vest termination behavior and therefore does not stratify employees into multiple groups in determining the expected term of options . 2022 expected annual dividends : the estimate for annual dividends is $ 0.00 , because the company has not historically paid , and does not intend for the foreseeable future to pay , a dividend . expected stock price volatility 57.10 % (  % ) risk-free interest rate 4.74 % (  % ) expected term 5.64 years .

Table:
 | 2006
expected stock price volatility | 57.10% ( 57.10 % )
risk-free interest rate | 4.74% ( 4.74 % )
expected term | 5.64 years
expected annual dividends | 2014
.

Question: in 2006 what was the ratio expected stock price volatility to risk-free interest rate
Answer: 12.1%
Calculation: divide(57.10, 4.74)
* Recast to reflect segment changes.
The GTS gross profit margin increased 0.3 points year to year to 34.8 percent, due to the benefits of workforce actions and the continued scale out of our public cloud. We continued to take structural actions to improve our cost competitiveness and are accelerating the use of AI and automation in delivery operations, including leveraging Red Hat’s Ansible platform. Pre-tax income of $1,645 million decreased 7.6 percent, driven primarily by the decline in revenue and gross profit, and a higher level of workforce rebalancing charges in the current year. Pre-tax margin of 5.8 percent was essentially flat year to year, with the 2019 pre-tax margin reflecting benefits from structural and workforce actions.
Table:
($ in millions) |  |  | 
For the year ended December 31: | 2019 | 2018* | Yr.-to-Yr. Percent/ Margin Change
Global Technology Services |  |  | 
External total gross profit | $9,515 | $10,035 | (5.2)%
External total gross profit margin | 34.8% | 34.4% | 0.3pts.
Pre-tax income | $1,645 | $ 1,781 | (7.6)%
Pre-tax margin | 5.8% | 5.9% | (0.2)pts.


Question: What was the pre-tax margin of 2019?
Answer: 5.8%
Revenue
We manage our business on a geographic basis, organized into three geographic segments. Our revenue, which includes product and service for each segment, is summarized in the following table (in millions, except percentages):
Amounts may not sum and percentages may not recalculate due to rounding.
Total revenue in fiscal 2019 increased by 5% compared with fiscal 2018. Product revenue increased by 6% and service revenue increased by 2%. Our total revenue reflected growth across each of our geographic segments. Product revenue for the BRICM countries, in the aggregate, experienced 1% product revenue decline, driven by a 16% decrease in product revenue in China and a decrease of 1% in Brazil. These decreases were partially offset by increased product revenue in Mexico, Russia and India of 26%, 6% and 5%, respectively.
In addition to the impact of macroeconomic factors, including a reduced IT spending environment and reductions in spending by government entities, revenue by segment in a particular period may be significantly impacted by several factors related to revenue recognition, including the complexity of transactions such as multiple performance obligations; the mix of financing arrangements provided to channel partners and customers; and final acceptance of the product, system, or solution, among other factors. In addition, certain customers tend to make large and sporadic purchases, and the revenue related to these transactions may also be affected by the timing of revenue recognition, which in turn would impact the revenue of the relevant segment.
Table:
 |  | Years Ended |  | 2019 vs. 2018 | 
 | July 27, 2019 | July 28, 2018 | July 29, 2017 | Variance in Dollars | Variance in Percent
Revenue: |  |  |  |  | 
Americas | $ 30,927 | $ 29,070 | $28,351 | $1,857 | 6%
Percentage of revenue | 59.6% | 58.9% | 59.1% |  | 
EMEA | 13,100 | 12,425 | 12,004 | 675 | 5%
Percentage of revenue | 25.2% | 25.2% | 25.0% |  | 
APJC | 7,877 | 7,834 | 7,650 | 43 | 1%
Percentage of revenue | 15.2% | 15.9% | 15.9% |  | 
Total | $51,904 | $49,330 | $48,005 | $2,574 | 5%


Question: What was the percentage of total revenue was from Americas in 2018?
Answer: 58.9
Relative importance of the spend on pay
The following table shows the Group’s actual spend on pay for all employees compared to distributions to shareholders. The average number of employees has also been included for context. Revenue and Operating profit have also been disclosed as these are two key measures of Group performance.
1 2018 comparatives have been restated to reflect the adoption of IFRS 9, IFRS 15 and IFRS 16, and to include share buybacks.
Table:
 | 2019 | Restated 2018 | 
 | £m | £m | % change
Employee costs (see note 7 to the consolidated financial statements) | 56.0 | 54.5 | 3%
Average number of employees (see note 6 to the consolidated financial statements) | 802 | 822 | 3%
Revenue (see Consolidated income statement) | 355.1 | 330.1 | 8%
Operating profit | 243.7 | 221.3 | 10%
Dividends paid and proposed and share buybacks (see notes 26 and 27 to the consolidated financial statements) | 156.4 | 152.8¹ | 2%


Question: What does the table in the context show?
Answer: the Group’s actual spend on pay for all employees compared to distributions to shareholders
stock performance graph the following graph sets forth the cumulative total shareholder return on our series a common stock , series b common stock and series c common stock as compared with the cumulative total return of the companies listed in the standard and poor 2019s 500 stock index ( 201cs&p 500 index 201d ) and a peer group of companies comprised of cbs corporation class b common stock , news corporation class a common stock , scripps network interactive , inc. , time warner , inc. , viacom , inc . class b common stock and the walt disney company . the graph assumes $ 100 originally invested on september 18 , 2008 , the date upon which our common stock began trading , in each of our series a common stock , series b common stock and series c common stock , the s&p 500 index , and the stock of our peer group companies , including reinvestment of dividends , for the period september 18 , 2008 through december 31 , 2008 and the years ended december 31 , 2009 , 2010 , 2011 , and 2012 . december 31 , december 31 , december 31 , december 31 , december 31 .

Table:
 | december 312008 | december 312009 | december 312010 | december 312011 | december 312012
disca | $ 102.53 | $ 222.09 | $ 301.96 | $ 296.67 | $ 459.67
discb | $ 78.53 | $ 162.82 | $ 225.95 | $ 217.56 | $ 327.11
disck | $ 83.69 | $ 165.75 | $ 229.31 | $ 235.63 | $ 365.63
s&p 500 | $ 74.86 | $ 92.42 | $ 104.24 | $ 104.23 | $ 118.21
peer group | $ 68.79 | $ 100.70 | $ 121.35 | $ 138.19 | $ 190.58
equity compensation plan information information regarding securities authorized for issuance under equity compensation plans will be set forth in our definitive proxy statement for our 2013 annual meeting of stockholders under the caption 201csecurities authorized for issuance under equity compensation plans , 201d which is incorporated herein by reference. .

Question: what was the percentage cumulative total shareholder return on disca common stock from september 18 , 2008 to december 31 , 2012?
Answer: 359.67%
Calculation: subtract(459.67, const_100), divide(#0, const_100)
ACCOUNTING POLICY
Accounts receivable represent amounts owing to us that are currently due and collectible. We initially recognize accounts receivable on the date they originate. We measure accounts receivable initially at fair value, and subsequently at amortized cost, with changes recognized in net income. We measure an impairment loss for accounts receivable as the excess of the carrying amount over the present value of future cash flows we expect to derive from it, if any. The excess is allocated to an allowance for doubtful accounts and recognized as a loss in net income.
EXPLANATORY INFORMATION
We have retrospectively reclassified $23 million as at December 31, 2018 and January 1, 2019 related to our wireless financing programs from “accounts receivable” to “other current assets” as the collection time frame of the amounts differs from accounts receivable.
Table:
 | As at December 31 | As at December 31 | As at December 31
(In millions of dollars) | Note | 2019 | 2018
Customer accounts receivable |  | 1,579 | 1,529
Other accounts receivable |  | 785 | 762
Allowance for doubtful accounts | 15 | (60) | (55)
Total accounts receivable |  | 2,304 | 2,236


Question: What is the increase/ (decrease) in Allowance for doubtful accounts from 2018 to 2019?
Answer: 5
Calculation: 60-55
Deferred contract costs are classified as current or non-current within prepaid expenses and other, and other assets – net, respectively. The balances of deferred contract costs as of December 31, 2019 and 2018, included in the balance sheet were as follows:
For the years ended December 31, 2019 and 2018, the Partnership recognized expense of $3,757 and $2,740, respectively associated with the amortization of deferred contract costs, primarily within selling, general and administrative expenses in the statements of income.
Deferred contract costs are assessed for impairment on an annual basis. An impairment charge is recognized to the extent the carrying amount of a deferred cost exceeds the remaining amount of consideration expected to be received in exchange for the goods and services related to the cost, less the expected costs related directly to providing those goods and services that have not yet been recognized as expenses. There have been no impairment charges recognized for the year ended December 31, 2019 and 2018.
Table:
 | 2019 | 2018
Assets |  | 
Prepaid expenses and other | $ 3,481 | $ 2,921
Other assets - net | 2,016 | 2,193
Total | $ 5,497 | $ 5,114


Question: What was the average other assets-net for 2018 and 2019?
Answer: 2104.5
Calculation: (2,016 + 2,193) / 2
table of contents the following table discloses purchases of shares of our common stock made by us or on our behalf during the fourth quarter of 2016 . period total number of shares purchased average price paid per share total number of shares not purchased as part of publicly announced plans or programs ( a ) total number of shares purchased as part of publicly announced plans or programs approximate dollar value of shares that may yet be purchased under the plans or programs ( b ) .

Table:
period | total numberof sharespurchased | averageprice paidper share | total number ofshares notpurchased as part ofpublicly announcedplans or programs ( a ) | total number ofshares purchased aspart of publiclyannounced plans orprograms | approximate dollarvalue of shares thatmay yet be purchasedunder the plans orprograms ( b )
october 2016 | 433272 | $ 52.69 | 50337 | 382935 | $ 2.7 billion
november 2016 | 667644 | $ 62.25 | 248349 | 419295 | $ 2.6 billion
december 2016 | 1559569 | $ 66.09 | 688 | 1558881 | $ 2.5 billion
total | 2660485 | $ 62.95 | 299374 | 2361111 | $ 2.5 billion
( a ) the shares reported in this column represent purchases settled in the fourth quarter of 2016 relating to ( i ) our purchases of shares in open-market transactions to meet our obligations under stock-based compensation plans , and ( ii ) our purchases of shares from our employees and non-employee directors in connection with the exercise of stock options , the vesting of restricted stock , and other stock compensation transactions in accordance with the terms of our stock-based compensation plans .
( b ) on july 13 , 2015 , we announced that our board of directors authorized our purchase of up to $ 2.5 billion of our outstanding common stock .
this authorization has no expiration date .
as of december 31 , 2016 , the approximate dollar value of shares that may yet be purchased under the 2015 authorization is $ 40 million .
on september 21 , 2016 , we announced that our board of directors authorized our purchase of up to an additional $ 2.5 billion of our outstanding common stock with no expiration date .
as of december 31 , 2016 , no purchases have been made under the 2016 authorization. .

Question: what is the percentage increase of shares purchased as part of publicly announced plans from nov 2016 to dec 2016?
Answer: 271.8%
Calculation: subtract(1558881, 419295), divide(#0, 419295)
Geographical information
Net revenues by geography are based on the billing addresses of our customers. The following table represents net revenues by geographic area for the periods presented:
Note: The Americas include U.S., Canada, and Latin America; EMEA includes Europe, Middle East, and Africa; APJ includes Asia Pacific and Japan
Revenues from customers inside the U.S. were $2.8 billion, $2.8 billion, and $2.1 billion during fiscal 2019, 2018, and 2017, respectively. No other individual country accounted for more than 10% of revenues.
Table:
 |  | Year Ended | 
(In millions) | March 29, 2019 | March 30, 2018 | March 31, 2017
Americas | $3,028 | $3,031 | $2,329
EMEA | 1,002 | 1,048 | 955
APJ | 701 | 755 | 735
Total net revenues | $4,731 | $4,834 | $4,019


Question: What areas are included in the Americas?
Answer: U.S., Canada, and Latin America
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)
Fair value change in FCR liability
The following table reconciles the beginning and ending measurements of our FCR liability and highlights the activity that drove the fair value change in FCR liability included in our cost of revenue.
(1) Includes: (i) incentive payments from Bank Partners, which is the surplus of finance charges billed to borrowers over an agreedupon portfolio yield, a fixed servicing fee and realized net credit losses, (ii) cash received from recoveries on previously charged-off Bank Partner loans, and (iii) the proceeds received from transferring our rights to Charged-Off Receivables (as defined below) attributable to previously charged-off Bank Partner loans. We consider all monthly incentive payments from Bank Partners during the period to be related to billed finance charges on deferred interest products until monthly incentive payments exceed total billed finance charges on deferred products, which did not occur during any of the periods presented.
(2) Represents the reversal of previously billed finance charges associated with deferred payment loan principal balances that were repaid within the promotional period.
(3) A fair value adjustment is made based on the expected reversal percentage of billed finance charges (expected settlements), which is estimated at each reporting date. The fair value adjustment is recognized in cost of revenue in the Consolidated Statements of Operations.
Table:
 |  | Year Ended December 31, | 
 | 2019 | 2018 | 2017
Beginning balance | $138,589 | $94,148 | $68,064
Receipts(1) | 159,527 | 129,153 | 109,818
Settlements(2) | (262,449) | (181,590) | (127,029)
Fair value changes recognized in cost of revenue(3) | 170,368 | 96,878 | 43,295
Ending balance | $206,035 | $138,589 | $94,148


Question: What was the amount of Settlements in 2019?
Answer: (262,449)
Property and equipment, net (in millions):
In September 2017, we entered into an agreement to sell certain land and buildings located in Sunnyvale, California, with a book value of $118 million, for a total of $306 million, through two separate and independent closings. Upon the completion of the first closing in fiscal 2018, we consummated the sale of properties with a net book value of $66 million for cash proceeds of $210 million, resulting in a gain, net of direct selling costs, of $142 million. The remaining properties, consisting of land with a net book value of $52 million, were classified as assets held-for-sale, and included as other current assets in our consolidated balance sheets as of April 26, 2019 and April 27, 2018. We will consummate the sale of these properties, and receive cash proceeds of $96 million, upon the completion of the second closing, which is expected to occur within the next 12 months. That closing is subject to due diligence, certain termination rights and customary closing conditions, including local governmental approval of the subdivision of a land parcel.
Table:
 | April 26, 2019 | April 27, 2018
Land | $ 106 | $ 106
Buildings and improvements | 605 | 594
Leasehold improvements | 86 | 88
Computer, production, engineering and other equipment | 817 | 733
Computer software | 357 | 357
Furniture and fixtures | 105 | 99
Construction-in-progress | 10 | 27
 | 2,086 | 2,004
Accumulated depreciation and amortization | (1,327 ) | (1,248 )
Property and equipment, net | $ 759 | $ 756


Question: What agreement did the company enter in September 2017?
Answer: to sell certain land and buildings located in Sunnyvale, California
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)
Business Metrics
We review a number of operating and financial metrics to evaluate our business, measure our performance, identify trends, formulate plans and make strategic decisions, including the following.
Transaction Volume. We define transaction volume as the dollar value of loans facilitated on our platform
during a given period. Transaction volume is an indicator of revenue and overall platform profitability and has
grown substantially in the past several years.
Loan Servicing Portfolio. We define our loan servicing portfolio as the aggregate outstanding consumer loan balance (principal plus accrued interest and fees) serviced by our platform at the date of measurement. Our loan servicing portfolio is an indicator of our servicing activities. The average loan servicing portfolio for the years ended December 31, 2019, 2018 and 2017 was $8,213 million, $6,303 million and $4,501 million, respectively.
Active Merchants. We define active merchants as home improvement merchants and healthcare providers that have submitted at least one consumer application during the twelve months ended at the date of measurement. Because our transaction volume is a function of the size, engagement and growth of our merchant network, active merchants, in aggregate, are an indicator of future revenue and profitability, although they are not directly correlated. The comparative measures can also be impacted by disciplined corrective action taken by the Company to remove merchants from our program who do not meet our customer satisfaction standards.
Cumulative Consumer Accounts. We define cumulative consumer accounts as the aggregate number of consumer accounts approved on our platform since our inception, including accounts with both outstanding and zero balances. Although not directly correlated to revenue, cumulative consumer accounts is a measure of our brand awareness among consumers, as well as the value of the data we have been collecting from such consumers since our inception. We may use this data to support future growth by cross-marketing products and delivering potential additional customers to merchants that may not have been able to source those customers themselves.
Table:
 |  | Year Ended December 31, | 
 | 2019 | 2018 | 2017
Transaction Volume |  |  | 
Dollars (in millions) | $5,954 | $5,030 | $3,767
Percentage increase | 18% | 34% | 
Loan Servicing Portfolio |  |  | 
Dollars (in millions, at end of period) | $9,150 | $7,341 | $5,390
Percentage increase | 25% | 36% | 
Active Merchants |  |  | 
Number (at end of period) | 17,216 | 14,907 | 10,891
Percentage increase | 15% | 37% | 
Cumulative Consumer Accounts |  |  | 
Number (in millions, at end of period) | 3.03 | 2.24 | 1.57
Percentage increase | 35% | 43% | 


Question: How did the company define Active Merchants?
Answer: home improvement merchants and healthcare providers that have submitted at least one consumer application during the twelve months ended at the date of measurement
Quarterly Financial Data (Unaudited)
Quarterly results for the years ended June 30, 2019 and 2018 are as follow (in thousands, except per share amounts).
Table:
 | June 30,
2019 | March 31,
2019 | December 31,
2018 | September 30,
2018
Net revenues  | $252,359 | $250,864 | $252,680 | $239,886
Gross profit  | $138,946 | $138,919 | $141,299 | $132,071
Net (loss) income (1)  | $(17,055) | $(6,932) | $7,199 | $(9,065)
Net (loss) income per share – basic  | $(0.14) | $(0.06) | $0.06 | $(0.08)
Net (loss) income per share – diluted  | $(0.14) | $(0.06) | $0.06 | $(0.08)


Question: What was the net revenues in September 30, 2018?
Answer: 239,886
In the Communications Solutions segment, operating income decreased $79 million in fiscal 2019 as compared to fiscal 2018. The Communications Solutions segment’s operating income included the following:
Excluding these items, operating income decreased in fiscal 2019 due primarily to lower volume.
Table:
 |  | Fiscal
 | 2019 | 2018
 |  | (in millions)
Restructuring and other charges, net | $  48 | $  13
Other items | 1 | —
Total | $  49 | $  13


Question: What was the percentage change in Total operating income in the Communications Solutions segment in 2019 from 2018?
Answer: 276.92
Calculation: (49-13)/13
Other non-current assets
Other non-current assets consisted of the following:
* As adjusted to reflect the impact of the full retrospective adoption of IFRS 15. See Note 2 for further details.
As of June 30, 2019 and 2018, the Group had certificates of deposit and time deposits totaling $3.7 million and $3.7 million which were classified as long-term and were included in security deposits. Included in the Group’s other non-current assets balance as of June 30, 2019 and 2018 were $7.1 million and $6.6 million respectively, of restricted cash used for commitments of standby letters of credit related to facility leases and were not available for the Group’s use in its operations.
Table:
 | As of June 30, | 
 | 2019 | 2018
 | (U.S. $ in thousands) | 
 |  | *As Adjusted
Marketable equity securities | $58,932 | $—
Non-marketable equity securities | 3,000 | —
Security deposits | 5,010 | 5,248
Other | 9,703 | 8,218
 | $76,645 | $13,466


Question: What is the change in value between security deposits between fiscal years 2018 and 2019?
Answer: -238
Calculation: 5,010-5,248