hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (in thousands, except for share and per share data)
NOTE 20 — Geographic Data
Financial information relating to our operations by geographic area were as follows:
Sales are attributed to countries based upon the origin of the sale.
Table:
 |  | Years Ended December 31, | 
Net Sales | 2019 | 2018 | 2017
United States | $279,904 | $313,489 | $287,092
Singapore | 32,957 | 6,724 | 5,596
Taiwan | 19,810 | 20,802 | 18,586
China | 87,342 | 79,380 | 66,510
Czech Republic | 33,214 | 36,528 | 34,476
Other non-U.S. | 15,772 | 13,560 | 10,733
Consolidated net sales | $468,999 | $470,483 | $422,993


Question: What were the consolidated net sales in 2017?
Answer: 422,993
Other Income (Expense), Net
Other expense, net decreased by $31 thousand in 2019 compared to 2018 as a result of the recognition of a $1.4 million loss on extinguishment related to the partial repurchase of our 2022 Notes and a $1.1 million increase in interest expense related to our convertible senior notes, offset by an increase of $2.7 million of interest income earned on our investment as a result of proceeds invested from our convertible note and common stock offerings.
Table:
 | Year Ended December 31, |  | Change | 
 | 2019 | 2018 | $ | %
 |  | (dollars in thousands) |  | 
Other expense, net | $ 4,597 | $ 4,628 | $ (31) | (0.7)%
% of revenue | 2% | 3% |  | 


Question: What was the decrease in the Other net expense in 2019?
Answer: $31 thousand
VALUATION AND QUALIFYING ACCOUNTS
(Amounts in millions)
(A) Includes increases and reversals of allowances for sales returns, price protection, and valuation allowance for deferred tax assets due to normal reserving terms.
(B) Includes actual write-offs and utilization of allowances for sales returns, price protection, and releases of income tax valuation allowances and foreign currency translation and other adjustments.
Table:
Col. A Description | Col B. Balance at Beginning of Period | Col. C Additions(A) | Col. D Deductions(B) | Col. E Balance at End of Period
At December 31, 2019 |  |  |  | 
Allowances for sales returns and price protection and other allowances | $186 | $11 | $(79) | $118
Valuation allowance for deferred tax assets | $61 | $127 | $(7) | $181
At December 31, 2018 |  |  |  | 
Allowances for sales returns and price protection and other allowances | $274 | $24 | $(112) | $186
Valuation allowance for deferred tax assets | $— | $61 | $— | $61
At December 31, 2017 |  |  |  | 
Allowances for sales returns and price protection and other allowances | $257 | $83 | $(66) | $274


Question: What was the sum of balances at the end of the period in 2019?
Answer: 299
Calculation: $118+$181
Unrecognized Tax Benefits
We recognize the benefits of tax return positions if we determine that the positions are “more-likely-than-not” to be sustained by the taxing authority. Interest and penalties accrued on unrecognized tax benefits are recorded as tax expense in the period incurred. The following table reflects changes in the unrecognized tax benefits (in thousands):
Of the unrecognized tax benefits at December 28, 2019, $13.4 million would impact the effective tax rate if recognized.
The amount of income taxes we pay is subject to ongoing audits by federal, state and foreign tax authorities which might result in proposed assessments. Our estimate for the potential outcome for any uncertain tax issue is judgmental in nature. However, we believe we have adequately provided for any reasonably foreseeable outcome related to those matters.
Our future results may include favorable or unfavorable adjustments to our estimated tax liabilities in the period the assessments are made or resolved or when statutes of limitation on potential assessments expire. As of December 28, 2019, changes to our uncertain tax positions in the next 12 months that are reasonably possible are not expected to have a significant impact on our financial position or results of operations.
At December 28, 2019, our tax years 2016 through 2019, 2015 through 2019 and 2014 through 2019, remain open for examination in the federal, state and foreign jurisdictions, respectively. However, to the extent allowed by law, the taxing authorities may have the right to examine prior periods where net operating losses and credits were generated and carried forward, and make adjustments up to the net operating loss and credit carryforward amounts.
Table:
 |  | Fiscal Year Ended | 
 | December 28, 2019 | December 29, 2018 | December 30, 2017
Unrecognized tax benefit, beginning balance | $25,224 | $18,296 | $17,978
Additions based on tax positions related to the current year | 3,679 | 1,677 | 694
Additions based on tax positions from prior years | — | 5,332 | —
Reductions for tax positions of prior years | (5) | (7) | —
Reductions due to lapse of the applicable statute of limitations | (98) | (74) | (376)
Unrecognized tax benefit, ending balance | $28,800 | $25,224 | $18,296
Interest and penalties recognized as a component of Provision (benefit) for income taxes | $59 | $71 | $67
Interest and penalties accrued at period end | 212 | 230 | 218


Question: What is the average Additions based on tax positions related to the current year from 2017-2019?
Answer: 2016.67
Calculation: (3,679 + 1,677 + 694) / 3
Comparison of Fiscal Year Ended September 28, 2018 to Fiscal Year Ended September 29, 2017
We acquired AppliedMicro on January 26, 2017 and certain assets of Picometrix on August 9, 2017, and we divested the Compute business on October 27, 2017 and our LR4 business on May 10, 2018. For additional information related to acquisitions and divestitures refer to Note 4 - Acquisitions and Note 23 - Divested Business and Discontinued Operations, respectively, in this Annual Report.
Our annual Statements of Operations includes activity since the dates of acquisition for AppliedMicro and Picometrix and excludes activity for the Compute business and LR4 business after the date of the divestiture, representing less than twelve months of activity for AppliedMicro and Picometrix for the fiscal year ended September 29, 2017.
Revenue. In fiscal year 2018, our revenue decreased by $128.4 million, or 18.4%, to $570.4 million from $698.8 million for fiscal year 2017. Revenue from our primary markets, the percentage of change between the years and revenue by primary markets expressed as a percentage of total revenue were (in thousands, except percentages):
In fiscal year 2018, our Telecom market revenue decreased by $117.1 million, or 34.4%, compared to fiscal year 2017. The decrease was primarily due to lower sales of carrier-based optical semiconductor products to our Asia customer base, lower sales of products targeting fiber to the home applications and the May 2018 sale of our LR4 business.
In fiscal year 2018, our Data Center market revenue decreased by $10.4 million, or 6.0%, compared to fiscal year 2017. The decrease was primarily due to decreased revenue from sales of legacy optical products and lasers and cloud data center applications.
In fiscal year 2018, our I&D market revenues decreased by $0.9 million, or 0.5%, compared to fiscal year 2017. The decrease was primarily related to lower certain legacy defense products partially offset by higher revenue across other areas within the product portfolio.
Table:
 |  Fiscal Years   |  | 
 | 2018 | 2017 | % Change
Telecom | $222,940 | $340,022 | (34.4)%
Data Center | 162,098 | 172,481 | (6.0)%
Industrial & Defense | 185,360 | 186,269 | (0.5)%
 | 570,398 | 698,772 | (18.4)%
Telecom | 39.1% | 48.6% | 
Data Center | 28.4% | 24.7% | 
Industrial & Defense | 32.5% | 26.7% | 
Total | 100.0% | 100.0% | 


Question: What was the respective value of Data Center in 2019 and 2018?
Answer: 162,098, 172,481
NOTE 10 – COMMON STOCK PURCHASE WARRANTS
Our warrant activity during the years ended December 31, 2019 and 2018 is shown below (in thousands except price data):
In connection with the issuance of the $10.0 million secured promissory notes in December 2013, we issued common stock purchase warrants (“warrants”) exercisable for 60 thousand shares of our common stock having an exercise price of $2.52 per share (after giving effect to our one-for-five reverse stock split) with an expiration date in December 2020. These warrants contain a cashless exercise feature (See Note 7).
As part of our July 2017 private placement transaction with Mr. Schutte, we issued warrants to purchase 1,782,531 shares of our common stock. The warrants are immediately exercisable at a price of $0.528 per share and expire five years after issuance (See Note 8). We have assigned a relative fair value of $495 thousand to the warrants out of the total $4.0 million proceeds from the private placement transaction and have accounted for these warrants as equity.
On June 28, 2019 as part of the changes made to the loan agreements we had with Mr. Schutte, each having an original due date of January 2, 2020, we issued to him a warrant to purchase 10.0 million shares of our common stock exercisable at a price of $0.01 per share and expire five years after issuance. We obtained a valuation of fair value on the warrant and $1.145 million was allocated to the warrant and accounted for as equity. (see Note 7 and Note 8). The warrant was assigned and transferred by Mr. Schutte to AD Pharma on June 28, 2019.
Table:
 |  |  | December 31, | 
 |  | 2019 |  | 2018
 |  | WAvg |  | WAvg
 |  | Exercise |  | Exercise
 | Number | Price | Number | Price
Outstanding, Jan. 1 | 1,842 | $0.59 | 1,842 | $0.59
Issued | 10,000 | 0.01 | - | -
Exercised | - | - | - | -
Expired | - | - | - | -
Modification | - | - | - | -
Outstanding, Dec. 31 | 11,842 | 0.10 | 1,842 | $0.59


Question: How much was the percentage decrease in ending price of outstanding common stock purchase warrants from 2018 to 2019?
Answer: 83.05
Calculation: (0.59 - 0.10) / 0.59
As a result of the adoption of ASC 606, our deferred product revenues and deferred product costs for the fleet management and auto vehicle finance verticals increased as balances are now amortized over the estimated average in-service lives of these devices. Deferred income tax assets and accumulated deficit increased as a result of the changes made to our deferred product revenues and deferred product costs. The cumulative effect of the changes made to our consolidated balance sheet for the adoption of ASC 606 were as follows (in thousands):
(1) Deferred product costs included in Prepaid expenses and other current assets and Other assets amounted to $5.4 million and $6.0 million, respectively, as of March 1, 2018.
Table:
 | Balance at | ASC 606 | Balance at
 | February 28, 2018 | Adjustments | March 1, 2018
 | Assets |  | 
Prepaid expenses and other current assets (1) | $12,000 | 1,891 | $13,891
Deferred income tax assets | 31,581 | 532 | 32,113
Other assets (1) | 18,829 | 3,145 | 21,974
 |  |  | 
 | Liabilities and Stockholders' Equity |  | 
Deferred revenue | $17,757 | 2,156 | 19,913
Other non-current liabilities | 24,249 | 5,007 | 29,256
 |  |  | 
 | Stockholders' equity |  | 


Question: What were the balance of total assets at March 1, 2018?
Answer: 67978
Calculation: (13,891+32,113+21,974)
Opening Equity Balance Sheet Adjustments from Accounting Standards Adopted in 2018
On January 1, 2018, we adopted Topic 606, ASU 2018-02, Income Statement-Reporting Comprehensive Income and other ASUs. We adopted Topic 606 using the modified retrospective method. We early adopted ASU 2018-02, which allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from Tax Cuts and Jobs Act (TCJA).
The cumulative after-tax effect of the changes made to our consolidated balance sheet for the adoption of Topic 606, ASU 2018-02 and other ASUs was as follows:
Table:
 |  | Adjustments due to | Adjustments due to | Adjustments due to | 
(dollars in millions) | At December 31, 2017 | Topic 606 | ASU 2018-02 | Other ASUs | At January 1, 2018
Retained earnings | 35,635 | 2,890 | (652) | (6) | 37,867
Accumulated other comprehensive income | 2,659 | — | 652 | (22) | 3,289
Noncontrolling interests | 1,591 | 44 | — | — | 1,635


Question: Which Standards were Adopted on January 1, 2018?
Answer: Topic 606, ASU 2018-02, Income Statement-Reporting Comprehensive Income and other ASUs.
ADVANCED ENERGY INDUSTRIES, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (continued) (in thousands, except per share amounts)
We have established an allowance for doubtful accounts based upon factors surrounding the credit risk of specific customers, historical trends, and other information.
Accounts Receivable and Allowance for Doubtful Accounts — Accounts receivable are recorded at net realizable value. We maintain a credit approval process and we make significant judgments in connection with assessing our customers’ ability to pay. Despite this assessment, from time to time, our customers are unable to meet their payment obligations. We continuously monitor our customers’ credit worthiness and use our judgment in establishing a provision for estimated credit losses based upon our historical experience and any specific customer collection issues that we have identified. While such credit losses have historically been within our expectations and the provisions established, there is no assurance that we will continue to experience the same credit loss rates that we have in the past. For example, in the fourth quarter, we increased our allowance for doubtful accounts by $4.2 million relating to a customer exposure in China resulting from economic softness and funding delays causing uncertainty in large program timing which uncertainty is now exacerbated by the spreading Coronavirus. A significant change in the liquidity or financial position of our customers could have a material adverse impact on the collectability of accounts receivable and our future operating results.
Changes in allowance for doubtful accounts are summarized as follows:
Table:
 | Years Ended December 31, | 
 | 2019 | 2018
Balances at beginning of period | $1,856 | $1,748
Additions from acquisition | 1,884 | 416
Additions - charged to expense | 4,207 | 109
Deductions - write-offs, net of recoveries | (202) | (417)
Balances at end of period | $7,745 | $1,856


Question: What were the changes in Additions from acquisition between 2018 and 2019?
Answer: 1468
Calculation: 1,884-416
NOTE 5 – PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment is summarized as follows (in thousands):
We do not have leasehold improvements nor do we have capitalized leases. Costs of betterments are capitalized while maintenance costs and repair costs are charged to operations as incurred. When a depreciable asset is retired from service, the cost and accumulated depreciation will be removed from the respective accounts.
Depreciation expense was $66 thousand and $73 thousand for each of the years ended December 31, 2019 and 2018, respectively.
Table:
 | December 31, | 
 | 2019 | 2018
Building and improvements | $1,273 | $1,273
Scientific equipment | 597 | 598
Computer hardware and software | 106 | 107
Machinery and equipment | 274 | 275
Land and improvements | 162 | 162
Other personal property | 70 | 70
Office equipment | 27 | 27
 | 2,509 | 2,512
Less: accumulated depreciation | (1,969) | (1,906)
Total property, plant and equipment, net | $ 540 | $ 606


Question: What are the accounting treatments for disposed assets?
Answer: When a depreciable asset is retired from service, the cost and accumulated depreciation will be removed from the respective accounts.
As of December 31, 2019, our required annual payments relating to these contractual obligations were as follows (in millions):
(1) Includes finance lease obligations.
(2) These calculations include the effect of our interest rate swaps and assume that (a) applicable margins remain constant; (b) our term A loan and revolving credit facility variable rate debt is priced at the one-month LIBOR rate in effect as of December 31, 2019; (c) only mandatory debt repayments are made; and (d) no refinancing occurs at debt maturity.
(3) Other includes commitment fees on our revolving credit facility and rating agencies fees.
Table:
 |  |  | Payments due by period | 
 | Total | 2020 | 2021-2022 | 2023-2024
Debt(1) | $1,554.8 | $80.0 | $184.1 | $1,290.7
Interest on debt (2) | 171.5 | 54.7 | 102.0 | 14.8
Data processing and maintenance commitments | 103.4 | 44.5 | 46.5 | 12.4
Operating lease payments | 27.5 | 12.6 | 11.5 | 3.4
Other(3) | 3.9 | 1.2 | 2.4 | 0.3
Total | $1,861.1 | $193.0 | $346.5 | $1,321.6


Question: What did the calculation for Debt include?
Answer: finance lease obligations.
Results of Operations
The following table is a summary of our consolidated statements of operations for the specified periods and results of operations as a percentage of revenues for those periods. The period-to-period comparisons of results are not necessarily indicative of results for future periods. Percentage of revenues figures are rounded and therefore may not subtotal exactly.
A discussion regarding our consolidated statements of operations and results of operations as a percentage of revenue for 2019 compared to 2018 is presented below. A discussion regarding our financial condition and results of operations for 2018 compared to 2017 can be found under Item 7 in our Annual Report on Form 10-K for the fiscal year ended December 31, 2018, filed with the SEC on March 14, 2019, which is available free of charge on the SEC’s website at www.sec.go.
(1)  Stock-based compensation expense included in the consolidated statements of operations data above was as follows:
(2)  Amortization of intangible assets included in the consolidated statements of operations data above was as follows:
(3) Restructuring-related expenses included in the consolidated statements of operations data above was as follows:
Table:
 |  | Year Ended December 31, |  | 
 | 2019 |  | 2018 | 
 | Amount | % of Revenue | Amount | % of Revenue
 |  | (dollars in thousands) |  | 
Revenues, net | $49,036 | 100% | $58,631 | 100%
Cost of revenues (1) (2) (3) | 22,843 | 47 | 27,154 | 46
Gross profit | 26,193 | 53 | 31,477 | 54
Operating expenses: |  |  |  | 
Sales and marketing (1) (2) (3) | 15,836 | 32 | 23,425 | 40
Research and development (1) (2) (3) | 17,845 | 36 | 22,450 | 38
General and administrative (1) (2) (3) | 10,466 | 21 | 13,113 | 22
Impairment of goodwill | 1,910 | 4 | 14,740 | 26
Total operating expenses | 46,037 | 94 | 73,728 | 126
Loss from operations | (19,844) | (40) | (42,251) | (72)
Gain on divestiture | 5,064 | 10 | - | -
Other income, net | 2,252 | 5 | 1,593 | 3
Loss before (benefit from) provision for income taxes | (12,528) | (26) | (40,658) | (69)
(Benefit from) provision for income taxes | (120) | - | 586 | 1
Net loss | $(12,408) | (25)% | $(41,244) | (70)%


Question: What is the company's average net revenue from its operations in 2018 and 2019?
Answer: 53833.5
Calculation: (58,631 + 49,036)/2
Consolidated Financial Results
Operating Expenses
The following table sets forth operating expenses by segment for the periods presented (in millions):
The increase in Operating Expenses was primarily driven by higher net personnel costs, technology-related costs and acquisition-related costs in our Software Solutions segment. The increase in our Data and Analytics segment primarily related to higher net personnel costs and higher data costs related to revenue growth. The decrease in Corporate and Other was primarily driven by lower incentive bonus expense.
Table:
 | Year ended December 31, |  | Variance | 
 | 2019 | 2018 | $ | %
Software Solutions | $412.7 | $394.8 | $17.9 | 5%
Data and Analytics | 123.4 | 115.0 | 8.4 | 7%
Corporate and Other | 109.9 | 115.6 | (5.7) | (5)%
Total | $646.0 | $625.4 | $20.6 | 3%


Question: What was the primary reason for the decrease in Corporate and Other?
Answer: lower incentive bonus expense
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 difference between the total rent obligations and land lease agreements?
Answer: 24.5
Calculation: 25.8-1.3