hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
Investing Cash Flow Activities
Year Ended December 31, 2019 Compared with the Year Ended December 31, 2018
Net cash used in investing activities – continuing operations during the year ended December 31, 2019 resulted from the absence of the sale of businesses compared to prior year. The sale of Netsmart and OneContent produced significant investing cash inflows during 2018, which was partially offset with cash paid for the acquisitions of Practice Fusion and Health Grid. Capital expenditures also decreased in 2019 compared with prior year.
Year Ended December 31, 2018 Compared with the Year Ended December 31, 2017
We had cash inflows from investing activities – continuing operations during the year ended December 31, 2018 compared with cash outflows from investing activities – continuing operations during the year ended December 31, 2017, which was primarily driven by cash proceeds of $567 million from the sale of our investment in Netsmart and $241 million of net cash proceeds from the divestiture of the OneContent business during 2018.
Cash used in investing activities also included the purchase of Practice Fusion and Health Grid, which were mostly offset by lower overall capital expenditures during 2018.
Net cash used in investing activities – discontinued operations increased during the year ended December 31, 2018 compared with the prior year, primarily due to larger business acquisitions completed by Netsmart during 2018.
Table:
 |  | Year Ended December 31, |  |  | 
(In thousands) | 2019 | 2018 | 2017 | 2019 $ Change from 2018 | 2018 $ Change from 2017
Capital expenditures | $(16,600) | $(31,309) | $(38,759) | $14,709 | $7,450
Capitalized software | (113,836) | (113,308) | (118,241) | (528) | 4,933
Cash paid for business acquisitions, net of cash acquired | (23,443) | (177,233) | (169,823) | 153,790 | (7,410)
Cash received from sale of businesses, net | 0 | 807,764 | 0 | (807,764) | 807,764
Purchases of equity securities, other investments and related intangible assets, net | (7,191) | (16,934) | (5,606) | 9,743 | (11,328)
Other proceeds from investing activities | 14 | 54 | 215 | (40) | (161)
Net cash (used in) provided by investing activities - continuing operations | (161,056) | 469,034 | (332,214) | (630,090) | 801,248
Net cash used in investing activities - discontinued operations | 0 | (221,021) | (80,758) | 221,021 | (140,263)
Net cash (used in) provided by investing activities | $(161,056) | $248,013 | $(412,972) | $(409,069) | $660,985


Question: What was the impact of the sale of Netsmart and OneContent?
Answer: produced significant investing cash inflows during 2018, which was partially offset with cash paid for the acquisitions of Practice Fusion and Health Grid.
Product Licensing Segment
(1) Excludes operating expenses which are not allocated on a segment basis.
Product Licensing revenue for the year ended December 31, 2019 was $198.1 million as compared to $219.7 million for the year ended December 31, 2018, a decrease of $21.6 million. The decrease in revenue was primarily due to the timing and duration of minimum guarantee contracts up for renewal and executed, decreased NRE services revenue, as well as a decrease in per-unit royalty revenue in 2019 as compared to 2018.
Table:
 |  | Years Ended December 31, | 
 | 2019 | 2018 | 2017
 |  | (in thousands) | 
Revenue: |  |  | 
Royalty and license fees | $198,124 | $219,708 | $167,923
Total revenue | 198,124 | 219,708 | 167,923
Operating expenses: |  |  | 
Cost of revenues | 8,460 | 13,291 | 6,308
Research, development and other related costs | 83,613 | 78,892 | 75,809
Litigation | 1,656 | — | 288
Amortization | 88,075 | 88,544 | 90,340
Total operating expenses (1) | 181,804 | 180,727 | 172,745
Total operating income (loss) | $16,320 | $38,981 | $(4,822)


Question: Why was Product Licensing revenue decreased in 2019 compared to 2018?
Answer: the timing and duration of minimum guarantee contracts up for renewal and executed, decreased NRE services revenue, as well as a decrease in per-unit royalty revenue
3. Restructuring and Other Charges, Net
Net restructuring and other charges consisted of the following:
Table:
 |  |  | Fiscal
 | 2019 | 2018 | 2017
 |  | (in millions) | 
Restructuring charges, net | $ 255 | $ 140 | $ 146
Gain on divestiture | — | (2) | —
Other charges (credits), net | — | (12) | 1
Restructuring and other charges, net | $ 255 | $ 126 | $ 147


Question: What was the amount of Restructuring and Other Charges, Net in 2019?
Answer: $ 255
During the fourth and third quarters of 2019 and the fourth quarter of 2018, we recorded an income tax expense of $62 million, $28 million and $28 million, respectively, reflecting (i) in the third quarter of 2019 the estimated annual effective tax rate in each of our jurisdictions, applied to the consolidated results before taxes in the third quarter of 2019 and (ii) in both fourth quarters the actual tax charges and benefits in each jurisdiction as well as the true-up of tax provisions based upon the most updated visibility on open tax matters in several jurisdictions. and (ii) in both fourth quarters the actual tax charges and benefits in each jurisdiction as well as the true-up of tax provisions based upon the most updated visibility on open tax matters in several jurisdictions. and (ii) in both fourth quarters the actual tax charges and benefits in each jurisdiction as well as the true-up of tax provisions based upon the most updated visibility on open tax matters in several jurisdictions.
Income tax expense
Table:
 |  | Three Months Ended | 
 | December 31, 2019 | September 29, 2019 | December 31, 2018
 |  | (Unaudited, in millions) | 
Income tax expense | $(62) | $(28) | $(28)


Question: What is the increase/ (decrease) in Income tax expense from the period December 31, 2018 to 2019?
Answer: 34
Calculation: 62-28
The following table provides a reconciliation of Adjusted SG&A to SG&A expenses, the most directly comparable financial measure presented in accordance with U.S. GAAP:
(a) Represents depreciation and amortization expense included in SG&A.
(b) Represents non-cash share-based compensation expense included in SG&A.
(c) Represents new store marketing allowance of $1,000 for each store added to our distribution network, as well as the non-capitalized freight costs associated with Freshpet Fridge replacements. The expense enhances the overall marketing spend to support our growing distribution network.
(d) Represents fees associated with secondary public offerings of our common stock.
(e) Represents charges associated with our former Chief Executive Officer’s separation agreement, as well as changes in estimates associated with leadership transition costs
(f) Represents fees associated with two securities lawsuits.
Table:
 | Twelve Months Ended December 31, |  |  |  | 
 | 2019 | 2018 | 2017 | 2016 | 2015
 | (Dollars in thousands) |  |  |  | 
SG&A expenses | $114,450 | $94,876 | $75,167 | $62,586 | $58,297
Depreciation and amortization expense (a) | 9,551 | 7,977 | 6,901 | 5,859 | 5,008
Non-cash share-based compensation (b) | 6,912 | 5,949 | 4,195 | 3,972 | 3,723
Launch expense (c) | 4,563 | 3,540 | 3,066 | 2,813 | 2,626
Loss on disposal of equipment | 649 | — | — | — | —
Secondary offering expenses (d) | 302 | 362 | — | — | 593
Leadership transition expenses (e) | — | — | 63 | 1,291 | —
Litigation expense (f) | — | 348 | 145 | — | —
Adjusted SG&A Expenses | $92,473 | $76,698 | $60,797 | $48,651 | $46,347
Adjusted SG&A Expenses as a % of Net Sales | 37.6% | 39.7% | 39.9% | 37.5% | 40.8%


Question: What does secondary offering expenses represent?
Answer: fees associated with secondary public offerings of our common stock
Free Cash Flow
The following provides a reconciliation of free cash flow, as used in this annual report, to its most directly comparable U.S. GAAP financial measures:
Management believes that the free cash flow measure provides useful information to investors regarding our financial condition because it is a measure of cash generated which management evaluates for alternative uses. It is management’s current intention to use excess cash to fund investments in capital equipment, acquisition opportunities and consistent dividend payments. Free cash flow is not a U.S. GAAP financial measure and should not be considered in isolation of, or as a substitute for, cash flows calculated in accordance with U.S. GAAP.
Table:
 |  | Fiscal Year | 
($ in millions) | 2019 | 2018 | 2017
Net cash provided from operating activities | $232.4 | $209.2 | $130.3
Purchases of property, plant, equipment and software | (180.3) | (135.0) | (98.5)
Acquisition of businesses, net of cash acquired | (79.0) | (13.3) | (35.3)
Proceeds from divestiture of business | — | — | 12.0
Proceeds from disposals of property, plant and equipment and assets held for sale | 0.4 | 1.9 | 2.5
Proceeds from note receivable from sale of equity method investment | — | 6.3 | 6.3
Proceeds from insurance recovery | 11.4 | — | —
Dividends paid | (38.6) | (34.4) | (34.1)
Free cash flow | $(53.7) | $34.7 | $(16.8)


Question: What was the change in Net cash provided from operating activities in 2019 from 2018?
Answer: 23.2
Calculation: 232.4-209.2
NON-GAAP FINANCIAL MEASURES
Non-GAAP operating income, net income, and diluted EPS are non-GAAP financial measures which exclude the net tax impact of transfer of intangible properties, the net tax impact of the TCJA, and restructuring expenses. We believe these non-GAAP measures aid investors by providing additional insight into our operational performance and help clarify trends affecting our business. For comparability of reporting, management considers non-GAAP measures in conjunction with GAAP financial results in evaluating business performance. These non-GAAP financial measures presented should not be considered a substitute for, or superior to, the measures of financial performance prepared in accordance with GAAP.
The following table reconciles our financial results reported in accordance with GAAP to non-GAAP financial results:
* Not meaningful.
Table:
(In millions, except percentages and per share amounts) | 2019 | 2018 | 2017 | Percentage Change 2019 Versus 2018 | Percentage Change 2018 Versus 2017
Operating income | $42,959 | $35,058 | $  29,025 | 23% | 21%
Net tax impact of transfer of intangible properties | 0 | 0 | 0 | * | *
Net impact of the TCJA | 0 | 0 | 0 | * | *
Restructuring expenses | 0 | 0 | 306 | * | *
Non-GAAP operating income | $42,959 | $35,058 | $ 29,331 | 23% | 20%
Net income | $39,240 | $16,571 | $ 25,489 | 137% | (35)%
Net tax impact of transfer of intangible properties | (2,567) | 0 | 0 | * | *
Net tax impact of the TCJA | 157 | 13,696 | 0 |  | 
Restructuring expenses | 0 | 0 | 243 | * | *
Non-GAAP net income | $36,830 | $30,267 | $ 25,732 | 22% | 18%
Diluted earnings per share | $5.06 | $2.13 | $ 3.25 | 138% | (34)%
Net tax impact of transfer of intangible properties | (0.33) | 0 | 0 | * | *
Net tax impact of the TCJA | 0.02 | 1.75 | 0 | * | *
Restructuring expenses | 0 | 0 | 0.04 | * | *
Non-GAAP diluted earnings per share | $4.75 | $3.88 | $ 3.29 | 22% | 18%
* not meaningful |  |  |  |  | 


Question: Which non-GAAP measures exclude the net tax impact of transfer of intangible properties, the net tax impact of the TCJA and restructuring expenses?
Answer: Non-GAAP operating income, net income, and diluted EPS are non-GAAP financial measures which exclude the net tax impact of transfer of intangible properties, the net tax impact of the TCJA, and restructuring expenses.
Net Revenues by Platform
The following tables detail our net revenues by platform (amounts in millions):
(1) Net revenues from “Mobile and ancillary” include revenues from mobile devices, as well as non-platform-specific game-related revenues, such as standalone sales of toys and accessories.
(2) Net revenues from “Other” primarily includes revenues from our Distribution business and the Overwatch League.
Console
The decrease in net revenues from console for 2019, as compared to 2018, was primarily due to:
lower revenues recognized from the Destiny franchise (reflecting our sale of the publishing rights for Destiny to Bungie in December 2018); and lower revenues recognized from Call of Duty franchise catalog titles.
The decrease was partially offset by revenues recognized from Crash Team Racing Nitro-Fueled, which was released in June 2019.
PC
The decrease in net revenues from PC for 2019, as compared to 2018, was primarily due to:
lower revenues recognized from the Destiny franchise; and lower revenues recognized from Hearthstone.
Mobile and Ancillary
The increase in net revenues from mobile and ancillary for 2019, as compared to 2018, was primarily due to revenues recognized from Call of Duty: Mobile, which was released in October 2019.
Table:
 |  | For the Years | Ended December 31, | 
 | 2019 | 2018 | Increase/ (decrease) | % Change
Net revenues by platform: |  |  |  | 
Console | $1,920 | $2,538 | $(618) | (24)%
PC | 1,718 | 2,180 | (462) | (21)
Mobile and ancillary (1) | 2,203 | 2,175 | 28 | 1
Other (2) | 648 | 607 | 41 | 7
Total consolidated net revenues | $6,489 | $7,500 | $(1,011) | (13)


Question: What does Net revenues from “Mobile and ancillary” include?
Answer: revenues from mobile devices, as well as non-platform-specific game-related revenues, such as standalone sales of toys and accessories.
Amounts recognised in the balance sheet are as follows:
The surplus of £2.2m (2018: £1.3m) has not been recognised as an asset as it is not deemed to be recoverable by the Group.
Table:
 | 2019 | 2018
 | £m | £m
Present value of funded obligations | 20.0 | 19.7
Fair value of plan assets | (22.2) | (21.0)
Effect of surplus cap | 2.2 | 1.3
Net asset recognised in the Consolidated balance sheet | – | –


Question: What has not been recognised as an asset in 2019?
Answer: surplus of £2.2m
Cost of Revenue, Gross Profit, and Gross Margin
Cost of revenue increased $4.9 million, or 3%, in 2019 as compared to 2018. The increase in cost of revenue was primarily due to $12.1 million in increased personnel expenses, stock-based compensation, and overhead costs, $3.9 million in increased content costs, $3.6 million in increased amortization of acquired intangible assets, and $1.6 million in increased capitalized software amortization. These increased costs were partially offset by $16.4 million in decreased external implementation professional service costs. These costs were incurred to service our existing customers and support our continued growth. The improvement in gross margin was primarily due to a higher mix of subscription revenue, which carries a higher gross margin.
Cost of revenue increased $1.5 million, or 1%, in 2018 as compared to 2017. The increase in cost of revenue was primarily due to $6.0 million in increased capitalized software amortization and $4.5 million in increased content costs. These increased costs were partially offset by $6.6 million in decreased amortization of acquired intangible assets and $2.9 million in external implementation service costs. These costs were incurred to service our existing customers and support our continued growth. The improvement in gross margin was primarily due to a higher mix of subscription revenue, which carries a higher gross margin.
Table:
 |  | Year Ended December 31, | 
 | 2019 | 2018 | 2017
 |  | (dollars in thousands) | 
Cost of revenue | $149,215 | $144,349 | $142,867
Gross profit | $427,308 | $393,542 | $339,118
Gross margin | 74.1% | 73.2% | 70.4%


Question: What was the percentage change in gross profit between 2018 and 2019?
Answer: 8.58
Calculation: ($427,308-$393,542)/$393,542
Our net sales by offering category for EMEA for 2019 and 2018, were as follows (dollars in thousands):
Net sales in EMEA remained flat (increased 5% excluding the effects of fluctuating foreign currency exchange rates), or down $3.6 million, in 2019 compared to 2018. Net sales of hardware declined 5%, year to year, while net sales of software and services were up 2% and 7%, respectively, year over year. The changes were the result of the following:
• Lower volume of net sales of networking solutions, partially offset by higher volume of net sales of devices, to large enterprise and public sector clients in hardware net sales. • Higher volume of software net sales to large enterprise and public sector clients.
• Higher volume of net sales of cloud solution offerings and increased software referral fees that are recorded on a net sales recognition basis. In addition, there was an increase in the volume of Insight delivered services.
Table:
 | EMEA |  | 
Sales Mix | 2019 | 2018 | %Change
Hardware | $622,949 | $653,499 | (5%)
Software | 753,729 | 736,509 | 2%
Services | 149,966 | 140,233 | 7%
 | $1,526,644 | $1,530,241 | —


Question: What is the average Sales Mix of Hardware for 2018 and 2019?
Answer: 638224
Calculation: (622,949+653,499) / 2
devon energy corporation and subsidiaries notes to consolidated financial statements 2013 ( continued ) other debentures and notes following are descriptions of the various other debentures and notes outstanding at december 31 , 2014 and 2013 , as listed in the table presented at the beginning of this note . geosouthern debt in december 2013 , in conjunction with the planned geosouthern acquisition , devon issued $ 2.25 billion aggregate principal amount of fixed and floating rate senior notes resulting in cash proceeds of approximately $ 2.2 billion , net of discounts and issuance costs . the floating rate senior notes due in 2015 bear interest at a rate equal to three-month libor plus 0.45 percent , which rate will be reset quarterly . the floating rate senior notes due in 2016 bears interest at a rate equal to three-month libor plus 0.54 percent , which rate will be reset quarterly . the schedule below summarizes the key terms of these notes ( in millions ) . .

Table:
floating rate due december 15 2015 | $ 500
floating rate due december 15 2016 | 350
1.20% ( 1.20 % ) due december 15 2016 ( 1 ) | 650
2.25% ( 2.25 % ) due december 15 2018 | 750
discount and issuance costs | -2 ( 2 )
net proceeds | $ 2248
( 1 ) the 1.20% ( 1.20 % ) $ 650 million note due december 15 , 2016 was redeemed on november 13 , 2014 .
the senior notes were classified as short-term debt on devon 2019s consolidated balance sheet as of december 31 , 2013 due to certain redemption features in the event that the geosouthern acquisition was not completed on or prior to june 30 , 2014 .
on february 28 , 2014 , the geosouthern acquisition closed and thus the senior notes were subsequently classified as long-term debt .
additionally , during december 2013 , devon entered into a term loan agreement with a group of major financial institutions pursuant to which devon could draw up to $ 2.0 billion to finance , in part , the geosouthern acquisition and to pay transaction costs .
in february 2014 , devon drew the $ 2.0 billion of term loans for the geosouthern transaction , and the amount was subsequently repaid on june 30 , 2014 with the canadian divestiture proceeds that were repatriated to the u.s .
in june 2014 , at which point the term loan was terminated. .

Question: what is the ratio of the floating rate due december 2015 compared to 2016
Answer: 1.43
Calculation: divide(500, 350)
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 Probe Cards from fiscal 2019 to 2018?
Answer: 24062
Calculation: 211,382-187,320
Liquidity and Capital Resources
The following summarizes information regarding our cash, investments, and working capital (in thousands):
Cash was $169.6 million at June 30, 2019, representing an increase of $48.5 million from $121.1 million at June 30, 2018. Cash increased primarily due to cash provided by operations of $104.9 million partially offset by cash used in investing activities of $21.8 million mainly for capital expenditures, and cash used in financing activities of $34.4 million mainly as a result of repayments of debt and repurchases of stock.
Cash was $121.1 million at June 30, 2018, representing a decrease of $9.3 million from $130.5 million at June 30, 2017. Cash and cash equivalents decreased primarily due to cash used in investing activities of $132.5 million mainly for the acquisitions of the Campus Fabric and Data Center Businesses and capital expenditures, partially offset by cash provided by financing activities of $104.7 million as a result of additional borrowings for the acquisitions and cash provided by operations of $19.0 million.
Table:
 | June 30,
2019 | June 30,
2018
Cash  | $169,607 | $121,139
Marketable securities   | — | 1,459
Total cash and marketable securities | $169,607 | $122,598


Question: What was the Total cash and marketable securities in 2019?
Answer: 169,607