hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
Notes to Consolidated Financial Statements (continued)
Reconciliations of total segment net revenues and total segment operating income to consolidated net revenues and consolidated income before income tax expense are presented in the table below (amounts in millions):
(1) Includes other income and expenses from operating segments managed outside the reportable segments, including our Distribution business. Also includes unallocated corporate income and expenses.
(2) Reflects the net effect from recognition (deferral) of deferred net revenues, along with related cost of revenues, on certain of our online-enabled products.
(3) Intersegment revenues reflect licensing and service fees charged between segments.
(4) Reflects fees and other expenses, such as legal, banking, and professional services fees, related to the acquisition of King and associated integration activities, including related debt financings.
(5) Reflects restructuring initiatives, which include severance and other restructuring-related costs.
(6) Reflects a non-cash accounting charge to reclassify certain cumulative translation gains (losses) into earnings due to the substantial liquidation of certain of our foreign entities.
(7) Reflects the impact of other unusual or unique tax-related items and activities.
Table:
 |  | Years Ended December 31, | 
 | 2019 | 2018 | 2017
Reconciliation to consolidated net revenues: |  |  | 
Segment net revenues | $5,969 | $6,835 | $6,765
Revenues from non-reportable segments (1) | 462 | 480 | 410
Net effect from recognition (deferral) of deferred net revenues (2) | 101 | 238 | (139)
Elimination of intersegment revenues (3) | (43) | (53) | (19)
Consolidated net revenues | $6,489 | $7,500 | $7,017
Reconciliation to consolidated income before income tax expense: |  |  | 
Segment operating income | $2,054 | $2,446 | $2,417
Operating income (loss) from non-reportable segments (1) | 24 | 31 | (19)
Net effect from recognition (deferral) of deferred net revenues and related cost of revenues (2) | 52 | 100 | (71)
Share-based compensation expense | (166) | (209) | (178)
Amortization of intangible assets | (203) | (370) | (757)
Fees and other expenses related to the acquisition of King (4) | — | — | (15)
Restructuring costs (5) | (137) | (10) | (15)
Other non-cash charges (6) | — | — | (14)
Discrete tax-related items (7) | (17) | — | (39)
Consolidated operating income | 1,607 | 1,988 | 1,309
Interest and other expense (income), net | (26) | 71 | 146
Loss on extinguishment of debt | — | 40 | 12
Consolidated income before income tax expense | $1,633 | $1,877 | $1,151


Question: What was the percentage change in segment operating income before income tax expense between 2017 and 2018?
Answer: 1.2
Calculation: ($2,446-$2,417)/$2,417
Deferred revenue primarily consists of amounts that have been invoiced but not yet been recognized as revenue and consists of performance obligations pertaining to support and subscription services. During the years ended December 31, 2019 and 2018, we recognized revenue of $63.2 million and $60.2 million, related to deferred revenue at the beginning of the period.
Deferred revenue consisted of the following (in thousands):
Table:
 | December 31, 2019 | December 31, 2018
Deferred revenue: |  | 
Products | $6,593 | $5,216
Services | 94,571 | 92,750
Total deferred revenue | 101,164 | 97,966
Less: current portion | (62,233) | (63,874)
Non-current portion | $38,931 | $34,092


Question: What proportion of the revenue recognized related to deferred revenue is the non-current portion of the deferred revenue in 2019?
Answer: 62.34
Calculation: (63.2 million - 38,931 thousand)/38,931 thousand
Long-lived assets by geographic area, which primarily include property and equipment, net, as of the periods presented were as follows (table in millions):
No individual country other than the U.S. accounted for 10% or more of these assets as of January 31, 2020 and February 1, 2019
VMware’s product and service solutions are organized into three main product groups:
• Software-Defined Data Center
• Hybrid and Multi-Cloud Computing
• Digital Workspace—End-User Computing
VMware develops and markets product and service offerings within each of these three product groups. Additionally, synergies are leveraged across these three product areas. VMware’s products and service solutions from each of its product groups may also be bundled as part of an enterprise agreement arrangement or packaged together and sold as a suite. Accordingly, it is not practicable to determine revenue by each of the three product groups described above.
Table:
 | January 1, 2020 | February 1, 2019
United States | $860 | $849
International | 209 | 113
Total | $1,069 | $962


Question: What was the change in the United States net property and equipment between 2019 and 2020?
Answer: 11
Calculation: 860-849
The components of the provision for income taxes attributable to continuing operations are as follows (in thousands):
On a consolidated basis, the Company has incurred operating losses and has recorded a full valuation allowance against its US, UK, New Zealand, Hong Kong, and Brazil deferred tax assets for all periods to date and, accordingly, has not recorded a provision (benefit) for income taxes for any of the periods presented other than a provision (benefit) for certain foreign and state income taxes. Certain foreign subsidiaries and branches of the Company provide intercompany services and are compensated on a cost-plus basis, and therefore, have incurred liabilities for foreign income taxes in their respective jurisdictions.
Table:
 |  | Year Ended December 31, | 
 | 2019 | 2018 | 2017
Current income tax provision: |  |  | 
Federal | $— | $— | $—
State | 225 | 204 | 114
Foreign | 2,467 | 2,514 | 1,580
Total current income tax provision | 2,692 | 2,718 | 1,694
Deferred income tax benefit: |  |  | 
Federal | $— | — | $—
State | — | — | —
Foreign | (2) | (123) | 52
Total deferred income tax benefit | (2) | (123) | 52
Total income tax provision | $2,690 | $2,595 | $1,746


Question: What percentage of total current income tax provision consist of State income tax provisions in 2019?
Answer: 8.36
Calculation: (225/2,692)
Item 6. Selected Financial Data
The following table sets forth selected consolidated financial data for each of the fiscal years ended June 30, 2019, 2018, 2017, 2016 and 2015 derived from the Company’s audited financial statements (in thousands, except per share amounts). The consolidated financial data as of and for the years ended June 30, 2015 are derived from the audited financial statements which have not been adjusted for the adoption of Accounting Standards update 2014- 09, Revenue from Contracts with Customers (Topic 606). These tables should be reviewed in conjunction with the Consolidated Financial Statements in Item 8 and related Notes, as well as Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations.” Historical results may not be indicative of future results.
(1) Operating income (loss) include the following operating expenses (in thousands):
(2)  The significant increase in net revenues during the year ended June 30, 2018 was primarily due to the acquisitions of the Campus Fabric and Data Center Businesses.
Table:
 |  | Year Ended June 30, |  |  | 
 | 2019 | 2018 | 2017 | 2016 | 2015
Consolidated Statements of Operations Data:                     |  |  |  |  | 
Net revenues | $995,789 | $983,142 (2) | $607,084 | $519,834 | $552,940
Operating income (loss) (1) | $(14,726) | $(38,210) | $6,040 | $(30,029) | $(62,994)
Net loss | $(25,853) | $(46,792) | $(1,744) | $(36,363) | $(71,643)
Net loss per share – basic | $(0.22) | $(0.41) | $(0.02) | $(0.35) | $(0.72)
Net loss per share – diluted | $(0.22) | $(0.41) | $(0.02) | $(0.35) | $(0.72)
Shares used in per share calculation – basic | 117,954 | 114,221 | 108,273 | 103,074 | 99,000
Shares used in per share calculation – diluted | 117,954 | 114,221 | 108,273 | 103,074 | 99,000


Question: What was the percentage change in the basic net loss per share between 2018 and 2019?
Answer: -46.34
Calculation: (-0.22+0.41)/-0.41
NOTE 19 – DERIVATIVE FINANCIAL INSTRUMENTS
Please refer to note 21 “Financial Instruments” for further information on fair value hierarchies.
Table:
USDm | 2019 | 2018
Fair value of derivatives: |  | 
Derivative financial instruments regarding freight and bunkers: |  | 
Forward freight agreements | -0.3 | 0.5
Bunker swaps | - | -1.2
Derivative financial instruments regarding interest and currency exchange rate: |  | 
Forward exchange contracts | -0.4 | -1.8
Interest rate swaps | -11.1 | 2.8
Fair value of derivatives as of 31 December | -11.8 | 0.3


Question: What was the percentage change in interest rate swaps from 2018 to 2019?
Answer: -496.43
Calculation: (-11.1-2.8)/2.8
(8) Computer Software
Computer software, net consists of the following (in millions):
In the fourth quarter of 2019, we entered into agreements to acquire software in exchange for a combination of cash consideration and certain of our products and services. The software was acquired for $32.0 million, of which software valued at $6.5 million was received as of December 31, 2019 and resulted in non-cash investing activity of $4.8 million.
Table:
 | December 31, | 
 | 2019 | 2018
Internally developed software | $808.2 | $746.0
Purchased software | 78.9 | 60.7
Computer software | 887.1 | 806.7
Accumulated amortization | (481.1) | (401.1)
Computer software, net | $406.0 | $405.6


Question: What did the company do in the fourth quarter of 2019?
Answer: entered into agreements to acquire software in exchange for a combination of cash consideration and certain of our products and services
G. PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment, net consisted of the following at December 31, 2019 and 2018:
Depreciation of property, plant and equipment for the years ended December 31, 2019, 2018, and 2017 was $70.8 million, $67.4 million, and $66.1 million, respectively. As of December 31, 2019 and 2018, the gross book value included in machinery and equipment for internally manufactured test systems being leased by customers was $5.4 million and $5.5 million, respectively. As of December 31, 2019 and 2018, the accumulated depreciation on these test systems was $5.1 million and $5.2 million, respectively.
Table:
 | 2019 | 2018
 | (in thousands) | 
Land | $16,561 | $16,561
Buildings | 107,282 | 105,935
Machinery, equipment and software | 834,970 | 752,722
Furniture and fixtures | 29,157 | 27,432
Leasehold improvements | 59,378 | 52,536
Construction in progress | 2,537 | 6,276
 | 1,049,885 | 961,462
Less: accumulated depreciation | 729,669 | 681,641
 | $320,216 | $279,821


Question: What was the amount of Depreciation of property, plant and equipment in 2019?
Answer: $70.8 million
Cost of Revenues
Cost of Subscription Solutions
Cost of subscription solutions increased $10.7 million, or 39.9%, for the three months ended December 31, 2019 compared to the same period in 2018. The increase was due to an increase in the costs necessary to support a greater number of merchants using our platform, resulting in an increase in: infrastructure and hosting costs, employee-related costs, credit card fees for processing merchant billings, amortization of technology related to enhancing our platform, payments to third-party partners for the registration of domain names, and payments to third-party theme developers. As a percentage of revenues, cost of subscription solutions decreased from 7.8% in the three months ended December 31, 2018 to 7.4% in the three months ended December 31, 2019 due to subscription solutions representing a smaller percentage of our total revenues.
Cost of Merchant Solutions
Cost of merchant solutions increased $72.5 million, or 55.2%, for the three months ended December 31, 2019 compared to the same period in 2018. The increase was primarily due to higher payment processing and interchange fees resulting from an increase in GMV facilitated through Shopify Payments. The increase was also due to an increase in amortization related to acquired intangibles from the acquisition of 6RS, employee-related costs associated with 6RS, product costs associated with expanding our product offerings, credit card fees for processing merchant billings, infrastructure and hosting costs, materials and third-party manufacturing costs associated with 6RS and cost of POS hardware units. Cost of merchant solutions as a percentage of revenues increased from 38.2% in the three months ended December 31, 2018 to 40.4% in the three months ended December 31, 2019, mainly as a result of Shopify Payments representing a larger percentage of total revenue.
Table:
 | Three months ended December 31, |  | 2019 vs. 2018
 | 2019 | 2018 | % Change
 | (in thousands, except percentages) |  | 
Cost of revenues: |  |  | 
Cost of subscription solutions | $ 37,369 | $ 26,706 | 39.9 %
Cost of merchant solutions | 203,900 | 131,413 | 55.2 %
Total cost of revenues | $ 241,269 | $ 158,119 | 52.6 %
Percentage of revenues: |  |  | 
Cost of subscription solutions | 7.4 % | 7.8 % | 
Cost of merchant solutions | 40.4 % | 38.2 % | 
 | 47.8 % | 46.0 % | 


Question: Between 2018 and 2019 year end, which year's cost of subscriptions solutions constitutes a higher percentage of revenues?
Answer: 2018
Calculation: 7.8 %>7.4 %
five-year performance comparison 2013 the following graph provides an indicator of cumulative total shareholder returns for the corporation as compared to the peer group index ( described above ) , the dj trans , and the s&p 500 . the graph assumes that $ 100 was invested in the common stock of union pacific corporation and each index on december 31 , 2008 and that all dividends were reinvested . the information below is historical in nature and is not necessarily indicative of future performance . purchases of equity securities 2013 during 2013 , we repurchased 14996957 shares of our common stock at an average price of $ 152.14 . the following table presents common stock repurchases during each month for the fourth quarter of 2013 : period total number of shares purchased [a] average price paid per share total number of shares purchased as part of a publicly announced plan or program [b] maximum number of shares that may yet be purchased under the plan or program [b] .

Table:
period | total number ofsharespurchased [a] | averageprice paidper share | total number of sharespurchased as part ofapublicly announced planor program [b] | maximum number ofshares that may yetbe purchased under the planor program [b]
oct . 1 through oct . 31 | 1405535 | 153.18 | 1405535 | 4020650
nov . 1 through nov . 30 | 1027840 | 158.66 | 1025000 | 2995650
dec . 1 through dec . 31 | 2500944 | 163.14 | 2498520 | 497130
total | 4934319 | $ 159.37 | 4929055 | n/a
[a] total number of shares purchased during the quarter includes approximately 5264 shares delivered or attested to upc by employees to pay stock option exercise prices , satisfy excess tax withholding obligations for stock option exercises or vesting of retention units , and pay withholding obligations for vesting of retention shares .
[b] on april 1 , 2011 , our board of directors authorized the repurchase of up to 40 million shares of our common stock by march 31 , 2014 .
these repurchases may be made on the open market or through other transactions .
our management has sole discretion with respect to determining the timing and amount of these transactions .
on november 21 , 2013 , the board of directors approved the early renewal of the share repurchase program , authorizing the repurchase of 60 million common shares by december 31 , 2017 .
the new authorization is effective january 1 , 2014 , and replaces the previous authorization , which expired on december 31 , 2013 , three months earlier than its original expiration date. .

Question: what percentage of total shares purchased where purchased in november?
Answer: 21%
Calculation: divide(1027840, 4934319)
Deferred income taxes reflect the net tax effects of temporary differences between the bases of assets and liabilities for financial reporting and income tax purposes as well as carryforwards. Deferred tax assets and liabilities consist of the following:
We assess positive and negative evidence for each jurisdiction to determine whether it is more likely than not that existing deferred tax assets will be realized. As of August 29, 2019, and August 30, 2018, we had a valuation allowance of $277 million and $228 million, respectively, against our net deferred tax assets, primarily related to net operating loss carryforwards in Japan. Changes in 2019 in the valuation allowance were due to adjustments based on management's assessment of tax credits and net operating losses that are more likely than not to be realized.
Table:
As of | 2019 | 2018
Deferred tax assets |  | 
Net operating loss and tax credit carryforwards | $1,045 | $1,417
Accrued salaries, wages, and benefits | 122 | 163
Property, plant, and equipment | 80 | —
Other | 110 | 115
Gross deferred tax assets | 1,357 | 1,695
Less valuation allowance | (277) | (228)
Deferred tax assets, net of valuation allowance | 1,080 | 1,467
Deferred tax liabilities |  | 
Product and process technology | (138) | (62)
Property, plant, and equipment | — | (173)
Other | (109) | (213)
Deferred tax liabilities | (247) | (448)
Net deferred tax assets | $833 | $1,019
Reported as |  | 
Deferred tax assets | $837 | $1,022
Deferred tax liabilities (included in other noncurrent liabilities) | (4) | (3)
Net deferred tax assets | $833 | $1,019


Question: What caused the change in valuation allowance in 2019?
Answer: adjustments based on management's assessment of tax credits and net operating losses that are more likely than not to be realized
The following table presents the components of the deferred tax assets and liabilities (in millions):
As of July 27, 2019, our federal, state, and foreign net operating loss carryforwards for income tax purposes were $676 million, $1 billion, and $756 million, respectively. A significant amount of the net operating loss carryforwards relates to acquisitions and, as a result, is limited in the amount that can be recognized in any one year. If not utilized, the federal, state and foreign net operating loss carryforwards will begin to expire in fiscal 2020. We have provided a valuation allowance of $111 million for deferred tax assets related to foreign net operating losses that are not expected to be realized.
As of July 27, 2019, our federal, state, and foreign tax credit carryforwards for income tax purposes were approximately $25 million, $1.1 billion, and $5 million, respectively. The federal tax credit carryforwards will begin to expire in fiscal 2020. The majority of state and foreign tax credits can be carried forward indefinitely. We have provided a valuation allowance of $346 million for deferred tax assets related to state and foreign tax credits that are not expected to be realized.
Table:
 | July 27, 2019 | July 28, 2018
ASSETS |  | 
Allowance for doubtful accounts and returns . | $ 127 | $ 285
Sales-type and direct-financing leases | 176 | 171
Inventory write-downs and capitalization | 409 | 289
Investment provisions . | — | 54
IPR&D, goodwill, and purchased intangible assets | 1,427 | 63
Deferred revenue . | 1,150 | 1,584
Credits and net operating loss carryforwards . | 1,241 | 1,087
Share-based compensation expense | 164 | 190
Accrued compensation | 342 | 370
Other | 419 | 408
Gross deferred tax assets | 5,455 | 4,501
Valuation allowance | (457) | (374)
Total deferred tax assets . | 4,998 | 4,127
LIABILITIES |  | 
Purchased intangible assets . | (705) | (753)
Depreciation . | (141) | (118)
Unrealized gains on investments . | (70) | (33)
Other | (112) | (145)
Total deferred tax liabilities | (1,028) | (1,049)
Total net deferred tax assets | $3,970 | $3,078


Question: What was the company's federal net operating loss carryforwards for income tax purposes in 2019?
Answer: $676 million
Restricted Stock Unit Award Plans
We have two Restricted Stock Unit Award Plans for our employees and non-employee directors, a 2017 Restricted Stock Unit Award Plan (the “2017 RSU Plan”) and a 2014 Restricted Stock Unit Award Plan (the “2014 RSU Plan”). Vesting of an RSU entitles the holder to receive a share of our common stock on a distribution date. Our non-employee director awards allow for non-employee directors to receive payment in cash, instead of stock, for up to 40% of each RSU award. The portion of the RSU awards subject to cash settlement are recorded as a liability in the Company’s consolidated balance sheet as they vest and being marked-to-market each reporting period until they are distributed. The liability was $29 thousand and $11 thousand at December 31, 2019 and 2018, respectively.
The compensation cost to be incurred on a granted RSU without a cash settlement option is the RSU’s fair value, which is the market price of our common stock on the date of grant, less its exercise cost. The compensation cost is amortized to expense and recorded to additional paid-in capital over the vesting period of the RSU award.
A summary of the grants under the RSU Plans as of December 31, 2019 and 2018, and for the year then ended consisted of the following (in thousands):
Table:
 |  | Year Ended | December 31, | 
 | 2019 |  | 2018 | 
 | Number of | Number of | Number of | Number of
 | RSUs | Vested RSUs | RSUs | Vested RSUs
Outstanding, Jan. 1 | 951 | 459 | 462 | 262
Granted | 333 | - | 759 | -
Distributed | (267) | (267) | (262) | (262)
Vested | - | 825 | - | 459
Forfeited | - | - | (8) | -
Outstanding, Dec. 31 | 1,017 | 1,017 | 951 | 459


Question: What is the ending outstanding number of vested RSUs in 2019?
Answer: 1,017
Other income, net
The components of other income, net from continuing operations for the years ended December 31 are as follows:
In 2018, we recorded a $0.5 million adjustment to decrease the fair value of the Company's contingent consideration related to the Brink Acquisition. Also, during 2019 and 2018, the Company incurred a net loss on rental contracts of approximately $1.0 million and $0.9 million, respectively.
Table:
 | Year ended December 31 (in thousands) | 
 | 2019 | 2018
Foreign currency loss | $(83) | $(258)
Rental loss-net | (996) | (865)
Gain on sale of real estate | — | 649
Fair value adjustment contingent consideration | — | 450
Other | (424) | 330
Other income, net | $(1,503) | $306


Question: What is the change in Foreign currency loss between December 31, 2018 and 2019?
Answer: 175
Calculation: (83)-(258)
The following table details the Company’s sales by operating segment for fiscal years ended September 30, 2019 and 2018. The Company’s sales by geographic area based on the location of where the products were shipped or services rendered are as follows:
Substantially all Americas amounts are United States.
Table:
2019 | Americas | Europe | Asia | Total | % of total
 |  | (Amounts in thousands) |  |  | 
TS | $67,728 | $3,285 | $646 | $71,159 | 90%
HPP | 5,294 | 771 | 1,837 | 7,902 | 10%
Total | $72,522 | $4,056 | $2,483 | $79,061 | 100%
% of total | 92% | 5% | 3% | 100% | 
2018 |  |  |  |  | 
TS | $52,034 | $9,059 | $1,344 | $62,437 | 86%
HPP | 8,424 | 1,266 | 789 | 10,479 | 14%
Total | $60,458 | $10,325 | $2,133 | $72,916 | 100%
% of total | 83% | 14% | 3% | 100% | 


Question: What is the difference in total sales between 2018 and 2019?
Answer: 6145
Calculation: 79,061 - 72,916