hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
Note 21. Quarterly Results (Unaudited)
The following table presents the Company's selected unaudited quarterly operating results for the eight quarters ended March 31, 2019. The Company believes that all adjustments of a normal recurring nature have been made to present fairly the related quarterly results (in millions, except per share amounts). Amounts may not add to the total due to rounding:
Refer to Note 11, Income Taxes, for an explanation of the one-time transition tax recognized in the third quarter of fiscal 2018. Refer to Note 4, Special Charges and Other, Net, for an explanation of the special charges included in operating income in fiscal 2019 and fiscal 2018. Refer to Note 12, Debt and Credit Facility, for an explanation of the loss on settlement of debt included in other (loss) income, net of $4.1 million during the second quarter, $0.2 million during the third quarter, and $8.3 million during the fourth quarter of fiscal 2019 and $13.8 million and $2.1 million for the first quarter and third quarter of fiscal 2018, respectively. Refer to Note 5, Investments, for an explanation of the impairment recognized on available-for-sale securities in the fourth quarter of fiscal 2018.
Table:
Fiscal 2019 | First Quarter | Second Quarter | Third Quarter | Fourth Quarter | Total
Net sales | $1,212.5 | $1,432.5 | $1,374.7 | $1,329.8 | $5,349.5
Gross profit | $642.0 | $689.3 | $779.6 | $820.5 | $2,931.3
Operating income | $132.3 | $102.7 | $194.7 | $284.6 | $714.3
Net income from continuing operations | $35.7 | $96.3 | $49.2 | $174.7 | $355.9
Diluted net income per common share | $0.14 | $0.38 | $0.20 | $0.70 | $1.42


Question: What was the difference between the total net sales and gross profit?
Answer: 2418.2
Calculation: 5,349.5-2,931.3
The Systems gross profit margin increased 3.2 points to 53.1 percent in 2019 compared to the prior year. The increase was driven by actions taken in 2018 to better position the cost structure over the longer term, a mix to IBM Z hardware and operating systems and margin improvement in Storage Systems.
Pre-tax income of $701 million declined 22.4 percent and pre-tax margin of 8.4 percent decreased 1.8 points year to year driven by the declines in Power Systems and Storage Systems revenue and the continued investment in innovation across the Systems portfolio, mitigated by the benefit from the new hardware launches in the second-half 2019.
Table:
($ in millions) |  |  | 
For the year ended December 31: | 2019 | 2018 | Yr.-to-Yr Percent/ Margin Change
Systems |  |  | 
External Systems Hardware gross profit | $2,622 | $2,590 | 1.2%
External Systems Hardware gross profit margin | 44.3% | 40.7% | 3.6pts.
External Operating Systems Software gross profit | $1,412 | $1,412 | 0.0%
External Operating Systems Software gross profit margin | 83.8% | 84.5% | (0.7)pts.
External total gross profit | $4,034 | $4,002 | 0.8%
External total gross profit margin | 53.1% | 49.8% | 3.2pts.
Pre-tax income | $701 | $904 | (22.4)%
Pre-tax margin | 8.4% | 10.2% | (1.8)pts.


Question: What is the average Pre-tax income?
Answer: 802.5
Calculation: (701 + 904) / 2
Cash and Cash Equivalents
Cash and cash equivalents consist of cash, checking accounts, money market accounts and temporary investments with maturities of three months or less when purchased. As of December 31, 2019 and 2018, the Company had no cash equivalents.
Restricted Cash
In connection with certain transactions, the Company may be required to deposit assets, including cash or investment shares, in escrow accounts. The assets held in escrow are subject to various contingencies that may exist with respect to such transactions. Upon resolution of those contingencies or the expiration of the escrow period, some or all the escrow amounts may be used and the balance released to the Company. As of December 31, 2019 and 2018, the Company had $72,000 and $140,000, respectively, deposited in escrow as restricted cash for the Shoom acquisition, of which any amounts not subject to claims shall be released to the pre-acquisition stockholders of Shoom pro-rata on the next anniversary dates of the closing date of the Shoom acquisition. As of December 31, 2019 and 2018, $72,000 and $70,000, respectively, was current and included in Prepaid Assets and Other Current Assets on the consolidated balance sheets. As of December 31, 2019 and 2018, $0 and $70,000 was non-current and included in Other Assets on the consolidated balance sheet.
The following table provides a reconciliation of cash, cash equivalents and restricted cash reported in the balance sheets that sum to the total of the same amounts show in the statement of cash flows.
Table:
 | For the Years Ended December 31, | 
(in thousands)  | 2019 | 2018
Cash and cash equivalents | $4,777 | $1,008
Restricted cash | 72 | 70
Restricted cash included in other assets, noncurrent | --    | 70
Total cash, cash equivalents, and restricted cash in the balance sheet  | 4,849 | $1,148


Question: What was the amount in escrow as restricted cash at 2019 and 2018 respectively?
Answer: 72,000, 140,000
For 2019, we reported a net income of $1,032 million, compared to a net income of $1,287 million and $802 million for 2018 and 2017, respectively.
The 2019 net income represented diluted earnings per share of $1.14 compared to $1.41 and $0.89 for 2018 and 2017, respectively.
Table:
 |  | Year Ended December 31, | 
 | 2019 | 2018 | 2017
 |  | (In millions) | 
Net income attributable to parent company | $1,032 | $1,287 | $802
As percentage of net revenues | 10.8% | 13.3% | 9.6%


Question: What is the average net income attributable to parent company?
Answer: 1040.33
Calculation: (1,032+1,287+802) / 3
Note 19 Goodwill
The following table provides details about the changes in the carrying amounts of goodwill for the years ended December 31, 2019 and 2018. BCE’s groups of CGUs correspond to our reporting segments.
Table:
 | BELL WIRELESS | BELL  WIRELINE | BELL  MEDIA | BCE
Balance at January 1, 2018 | 3,032 | 4,497 | 2,899 | 10,428
Acquisitions and other | 16 | 182 | 32 | 230
Balance at December 31, 2018 | 3,048 | 4,679 | 2,931 | 10,658
Acquisitions and other | – | (6) | 15 | 9
Balance at December 31, 2019 | 3,048 | 4,673 | 2,946 | 10,667


Question: What is the balance for BCE at December 31, 2019?
Answer: 10,667
Customer Receivables and Contract Balances
The following table provides balances of customer receivables, contract assets and contract liabilities as of December 31, 2019 and December 31, 2018:
(1) Gross customer receivables of $2.3 billion and $2.5 billion, net of allowance for doubtful accounts of $94 million and $132 million, at December 31, 2019 and December 31, 2018, respectively.
Contract liabilities are consideration we have received from our customers or billed in advance of providing goods or services promised in the future. We defer recognizing this consideration as revenue until we have satisfied the related performance obligation to the customer. Contract liabilities include recurring services billed one month in advance and installation and maintenance charges that are deferred and recognized over the actual or expected contract term, which typically ranges from one to five years depending on the service. Contract liabilities are included within deferred revenue in our consolidated balance sheet. During the years ended December 31, 2019 and December 31, 2018, we recognized $630 million and $295 million, respectively, of revenue that was included in contract liabilities as of January 1, 2019 and January 1, 2018, respectively.
Table:
 | December 31, 2019 | December 31, 2018
 | (Dollars in millions) | 
Customer receivables(1) | $2,194 | 2,346
Contract liabilities | 1,028 | 860
Contract assets | 130 | 140


Question: What is the change in net of allowance for doubtful accounts in 2019 from 2018?
Answer: -38
Calculation: $94-$132
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 is the amount of free cash flow in 2019?
Answer: $422,150
Note 6 — Accounts Receivable, net
The Company’s net accounts receivable consists of:
At December 31, 2019 and 2018, the Company had recorded allowances for doubtful accounts of $1.8 million and $1.3 million, respectively, against Restaurant/Retail segment accounts receivable. Write-offs of accounts receivable during fiscal years 2019 and 2018 were $0.3 million and $0.4 million, respectively. The bad debt expense which is recorded in the consolidated statements of operations was $0.8 million and $0.8 million in 2019 and 2018, respectively.
Receivables recorded as of December 31, 2019 and 2018 all represent unconditional rights to payments from customers.
Table:
 | December 31, | 
 | (in thousands) | 
 | 2019 | 2018
Government segment: |  | 
Billed | $11,608 | $9,100
Advanced billings | (608) | (563)
 | 11,000 | 8,537
Restaurant/Retail segment: |  | 
Accounts receivable - net | 30,774 | 17,682
 | $41,774 | $26,219


Question: How much allowances for doubtful accounts was recorded against Restaurant/Retail segment accounts receivable at December 31, 2019 and 2018 respectively?
Answer: $1.8 million, $1.3 million
Remuneration of key management personnel
The remuneration of the Directors, who are the key management personnel of the Group, is set out below in aggregate for each of the categories specified in IAS 24 ‘Related Party Disclosures’:
No Director received compensation for loss of office (2018 nil).
There were gains of $2,010,731 (2018 $852,742) on the exercise of options by key management personnel in 2019.
For further details refer to the Report on Directors’ remuneration on pages 77 to 101.
Table:
 | 2019 | 2018
 | $000 | $000
Short-term employee benefits | 3,540.9 | 3,842.1
Share-based payment | 1,982.7 | 664.6
 | 5,523.6 | 4,506.7


Question: What was the percentage change in the total remuneration of key management personnel?
Answer: 22.56
Calculation: (5,523.6-4,506.7)/4,506.7
The Credit Agreement and 2026 Notes contain certain customary affirmative covenants and negative covenants that limit or restrict, subject to certain exceptions, the incurrence of liens, indebtedness of subsidiaries, mergers, advances, investments, acquisitions, transactions with affiliates, change in nature of business, and the sale of the assets. In addition, the Credit Agreement and 2026 Notes contain certain customary mandatory prepayment provisions. The Company is also required to maintain a consolidated leverage ratio at or below a specified amount and an interest coverage ratio at or above a specified amount. As specified in the Credit Agreement and 2026 Notes agreement, if certain events occur and continue, the Company may be required to repay all amounts outstanding under the Credit Facility and 2026 Notes. As of December 31, 2019, and at all times during the period, the Company was in compliance with its financial debt covenants.
Total debt is comprised of the following (in thousands):
Table:
 | December 31, | 
 | 2019 | 2018
Term loans | $756,060 | $284,959
Revolving credit facility | 239,000 | —
5.750% Senior Notes, due August 2026 | 400,000 | 400,000
Debt issuance costs | (21,905 ) | (13,203 )
Total debt | 1,373,155 | 671,756
Less current portion of term credit facility | 38,950 | 23,747
Less current portion of debt issuance costs | (4,802 ) | (2,980 )
Total long-term debt | $1,339,007 | $650,989


Question: What were the term loans in 2019?
Answer: $756,060
The following table sets forth the components of identifiable intangible assets acquired and their estimated useful lives as of the date of acquisition.
The amount recorded for developed technology represents the estimated fair value of OpsGenie’s incident management and alerting technology. The amount recorded for customer relationships represents the fair value of the underlying relationships with OpsGenie customers. The amount recorded for trade name represents the fair value of OpsGenie trade name.
Table:
 | Fair Value | Useful Life
 | (U.S. $ in thousands) | (years)
Developed technology | $35,600 | 5
Customer relationships | 48,600 | 10
Trade name | 3,700 | 5
Total intangible assets subject to amortization | $87,900 | 


Question: What is the difference in useful life between developed technology and customer relationships?
Answer: 5
Calculation: 10-5
F. Contractual Obligations as at December 31, 2019:
Payment due by period ($ in millions) (unaudited)
(1) The amount identified does not include interest costs associated with the outstanding credit facilities, which are based on LIBOR rates, plus the costs of complying with any applicable regulatory requirements and a margin ranging from 2.75% to 3.25% per annum. The amount does not include interest costs for the 2022 Senior Secured Notes, the 2022 Notes, the 2024 Notes, the NSM Loan, the 2022 Logistics Senior Notes, the Term Loan B Facility and the Navios Logistics Notes Payable. The expected interest payments are: $127.8 million (less than 1 year), $166.6 million (1-3 years), $3.8 million (3-5 years) and nil (more than 5 years). Expected interest payments are based on outstanding principal amounts, currently applicable effective interest rates and margins as of December 31, 2019, timing of scheduled payments and the term of the debt obligations.
(2) Approximately 41% of the time charter payments included above is estimated to relate to operational costs for these vessels.
(3) Navios Logistics has several lease agreements with respect to its operating port terminals and various offices. Following the sale of the management division effected on August 30, 2019 Navios Holdings has no office lease obligations (see also Note 16 included elsewhere in this Annual Report). See also Item 4.B. “Business Overview — Facilities.”
(4) Represent total amount of lease payments on an undiscounted basis.
(5) Represents principal payments of the future remaining obligation for the acquisition of six liquid barges, which bear interest at fixed rate. The amounts in the table exclude expected interest payments of $0.3 million (less than 1 year), $1.8 million (1-3 years), $0.9 million (3-5 years) and 0.1 million (more than 5 years). Expected interest payments are based on the terms of the shipbuilding contract for the construction of these barges.
Table:
Contractual Obligations | Total | Less than 1 year | 1-3 years | 3-5 years | More than 5 years
Long-term debt(1) | $1,581.8 | $51.7 | $1,461.0 | $69.1 | $—
Operating Lease Obligations (Time Charters) for vessels in operation(2)(4) | 367.4 | 109.6 | 142.7 | 81.6 | 33.5
Operating Lease Obligations (Time Charters) for vessels to be delivered(4) | 63.4 | 5.5 | 13.6 | 12.9 | 31.4
Acquisition of six liquid barges (5) | 12.4 | 0.5 | 4.4 | 5.3 | 2.2
Rent Obligations(3) | 1.3 | 0.8 | 0.4 | 0.1 | —
Land lease agreements (3) | 25.8 | 0.6 | 1.1 | 1.1 | 23.0
Total | $2,052.1 | $168.7 | $1,623.2 | $170.1 | $90.1


Question: What was the total long-term debt?
Answer: 1,581.8
stock performance graph the following line-graph presentation compares our cumulative shareholder returns with the standard & poor 2019s information technology index and the standard & poor 2019s 500 stock index for the past five years . the line graph assumes the investment of $ 100 in our common stock , the standard & poor 2019s information technology index , and the standard & poor 2019s 500 stock index on may 31 , 2003 and assumes reinvestment of all dividends . comparison of 5 year cumulative total return* among global payments inc. , the s&p 500 index and the s&p information technology index 5/03 5/04 5/05 5/06 5/07 5/08 global payments inc . s&p 500 s&p information technology * $ 100 invested on 5/31/03 in stock or index-including reinvestment of dividends . fiscal year ending may 31 . global payments s&p 500 information technology .

Table:
 | global payments | s&p 500 | s&p information technology
may 31 2003 | $ 100.00 | $ 100.00 | $ 100.00
may 31 2004 | 137.75 | 118.33 | 121.98
may 31 2005 | 205.20 | 128.07 | 123.08
may 31 2006 | 276.37 | 139.14 | 123.99
may 31 2007 | 238.04 | 170.85 | 152.54
may 31 2008 | 281.27 | 159.41 | 156.43
issuer purchases of equity securities in fiscal 2007 , our board of directors approved a share repurchase program that authorized the purchase of up to $ 100 million of global payments 2019 stock in the open market or as otherwise may be determined by us , subject to market conditions , business opportunities , and other factors .
under this authorization , we have repurchased 2.3 million shares of our common stock .
this authorization has no expiration date and may be suspended or terminated at any time .
repurchased shares will be retired but will be available for future issuance. .

Question: what is the roi of global payments from 2003 to 2004?
Answer: 37.8%
Calculation: subtract(137.75, const_100), divide(#0, const_100)
For a particular tax-paying component of the Company and within a particular tax jurisdiction, all current deferred tax liabilities and assets are offset and presented as a single amount, similarly to non-current deferred tax liabilities and assets. The Company does not offset deferred tax liabilities and assets attributable to different tax-paying components or to different tax jurisdictions.
The net deferred tax assets are recorded in legal entities which have been historically profitable and are expected to be profitable in the next coming years.
Table:
 | December 31, 2019 | December 31, 2018
Tax loss carryforwards and investment credits | 612 | 603
Less unrecognized tax benefit | (21) | (20)
Tax loss carry forwards net of unrecognized tax benefit | 591 | 583
Inventory valuation | 28 | 28
Impairment and restructuring charges | 6 | 14
Fixed asset depreciation in arrears | 39 | 35
Increased depreciation incentives | 213 | 211
Capitalized development costs | 118 | 108
Receivables for government funding | 14 | 11
Tax credits granted on past capital investments | 1,151 | 1,155
Pension service costs | 81 | 65
Stock awards | 6 | 7
Operating lease liabilities | 40 | —
Commercial accruals | 15 | 12
Other temporary differences | 22 | 26
Total deferred tax assets | 2,324 | 2,255
Valuation allowances | (1,534) | (1,548)
Deferred tax assets, net | 790 | 707
Accelerated fixed asset depreciation | (20) | (16)
Acquired intangible assets | (16) | (13)
Advances of government funding | (31) | (12)
Operating lease right-of-use assets | (40) | —
Other temporary differences | (7) | (7)
Deferred tax liabilities | (114) | (48)
Net deferred income tax asset | 676 | 659


Question: What was the inventory valuation in 2019?
Answer: 28
Contractual Obligations and Commercial Commitments
We lease office space and equipment under operating leases that run through October 2028. Additionally, we have entered into a Credit Agreement that matures in April 2024 and have issued Senior Notes that mature in August 2026.
Contractual obligations as of December 31, 2019, are as follows (in thousands):
(1) Based on the Term Loans debt outstanding and interest rate in effect at December 31, 2019, of 4.05%.
(2) Based on Revolving Credit Facility debt outstanding and interest rate in effect at December 31, 2019, of 3.99%.
(3) Based on 2026 Notes issued of $400.0 million with an annual interest rate of 5.750%.
(4) During the year ended December 31, 2019, we financed certain multi-year license agreements for internal-use software for $10.4 million with annual payments through April 1, 2022. As of December 31, 2019, $13.8 million is outstanding under these and other agreements previously entered into, of which $6.0 million and $7.8 million is included in other current liabilities and other noncurrent liabilities, respectively, in our Consolidated Balance Sheet in Part IV, Item 15 of this Form 10-K as of December 31, 2019.
We are unable to reasonably estimate the ultimate amount or timing of settlement of our reserves for income taxes under ASC 740, Income Taxes. The liability for unrecognized tax benefits at December 31, 2019, is $29.0 million.
Table:
 |  |  | Payments Due by Period |  | 
 | Total | Less than 1 year | 1-3 years | 3-5 years | More than 5 years
Operating lease obligations | $ 70,284 | $ 17,180 | $ 23,116 | $ 12,738 | $ 17,250
Term loans | 756,060 | 38,950 | 89,381 | 627,729 | —
Term loans interest (1) | 117,168 | 30,025 | 55,232 | 31,911 | —
Revolving credit facility | 239,000 | — | — | 239,000 | —
Revolving credit facility interest (2) | 40,528 | 9,536 | 19,072 | 11,920 | —
Senior notes | 400,000 | — | — | — | 400,000
Senior notes interest (3) | 149,500 | 23,000 | 46,000 | 46,000 | 34,500
Financed internal-use software (4) | 13,822 | 5,974 | 7,848 | — | —
Total | $1,786,362 | $124,665 | $240,649 | $969,298 | $451,750


Question: What percentage of the total consists of payments due in 1-3 years?
Answer: 13.47
Calculation: $240,649/$1,786,362
SELECTED FINANCIAL DATA
The following data should be read in conjunction with the consolidated financial statements and accompanying notes included elsewhere in the Annual Report on Form 10-K. Fiscal 2018 and 2017 have been recast to reflect the Company’s retrospective adoption of Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers, and related amendments, collectively referred to as Accounting Standards Codification (“ASC”) 606. Fiscal 2016 and 2015 were not recast. Net income for fiscal 2018 and 2019 has been impacted by the reduced U.S. corporate tax rate enacted by the Tax Cuts and Jobs Act (“TCJA”) of 2017, and fiscal 2018 net income contains the related adjustment for the re-measurement of deferred taxes. Acquisitions have affected revenue and net income in fiscal 2019 as well as the historical periods presented.
(1) Revenue includes license sales, support and service revenues, and hardware sales, less returns and allowances.
Table:
 |  |  | (In Thousands, Except Per Share Data) |  | 
 |  |  | YEAR ENDED JUNE 30, |  | 
Income Statement Data | 2019 | 2018 | 2017 | 2016 | 2015
 |  |  |  | *Unadjusted | *Unadjusted
Revenue (1) | $1,552,691 | $1,470,797 | $1,388,290 | $1,354,646 | $1,256,190
Net Income | $271,885 | $365,034 | $229,561 | $248,867 | $211,221
Basic earnings per share | $3.52 | $4.73 | $2.95 | $3.13 | $2.60
Diluted earnings per share | $3.52 | $4.70 | $2.93 | $3.12 | $2.59
Dividends declared per share | $1.54 | $1.36 | $1.18 | $1.06 | $0.94
Balance Sheet Data |  |  |  |  | 
Total deferred revenue | $394,306 | $369,915 | $368,151 | $521,054 | $531,987
Total assets | $2,184,829 | $2,033,058 | $1,868,199 | $1,815,512 | $1,836,835
Long-term debt | $— | $— | $50,000 | $— | $50,102
Stockholders’ equity | $1,429,013 | $1,322,844 | $1,099,693 | $996,210 | $991,534


Question: What is the revenue for all 5 fiscal years, in chronological order?
Answer: $1,256,190, $1,354,646, $1,388,290, $1,470,797, $1,552,691