hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
Current assets of continuing operations decreased by €569 million compared to the previous year's figures to €7.8 billion (30/9/2018: €8.3 billion). Cash and cash equivalents in particular contributed to this development with a decrease of €407 million to €0.5 billion (30/9/2018: €0.9 billion).
1 Adjusted for effects of the discontinued business segment.
For more information about the development of current assets, see the notes to the consolidated financial statements in the numbers listed in the table.
Table:
€ million | Note no. | 30/9/2018 | 30/9/2018 adjusted1 | 30/9/2019
Current assets |  | 7,703 | 8,329 | 7,761
Inventories | 26 | 2,108 | 1,905 | 1,946
Trade receivables | 27 | 571 | 496 | 482
Financial assets |  | 1 | 1 | 4
Other financial and other non-financial assets | 24 | 913 | 796 | 881
Entitlements to income tax refunds |  | 206 | 202 | 190
Cash and cash equivalents | 29 | 1,298 | 906 | 500
Assets held for sale | 30,43 | 2,605 | 4,024 | 3,758


Question: In which years were the current assets of continuing operations calculated in?
Answer: 2019, 2018
The Company had gross unrecognized tax benefits of $15.7 million and $3.0 million, as of June 30, 2019 and June 30, 2018, respectively. The Company recognizes interest and penalties related to uncertain tax positions in income tax expense.
The Company files income tax returns in various federal, state, and local jurisdictions including the United States, Canada, United Kingdom and France. In the normal course of business, the Company is subject to examination by taxing authorities throughout the world. With few exceptions, the Company is no longer subject to income tax examinations by tax authorities in major tax jurisdictions for years before 2014.
Table:
 | June 30, | 
 | 2019 | 2018
 | in millions) | 
Balance at beginning of year | $3.0 | $0.2
Additions for current year tax positions | 1.5 | 1.2
Additions for prior year tax positions | 11.5 | 1.7
Reductions as a result of settlement with tax authority | (0.3) | (0.1)
Balance at end of year | $15.7 | $3.0
Interest and penalties included in balance | $2.2 | $0.1
Amount, if recognized, would impact the effective income tax rate | 10.0 | 1.8
Amount that could be settled within the next year | 10.0 | 1.9


Question: Which years had additions for current year tax positions of more than 1.1 million?
Answer: 2018, 2019
Calculation: 1.5 > 1.2 > 1.1
Simultaneous with the Merger and the Private Offering, New Warrants to purchase 3,403,367 shares of Series B Preferred Stock at an average exercise price of
approximately $1.05 per share were issued to holders of Prior Protagenic warrants; additionally, the holder of $665,000 of our debt and $35,000 of accrued interest exchanged such debt for five-year warrants to purchase 295,945 shares of Series B Preferred Stock at $1.25 per share. Placement Agent Warrants to purchase 127,346 shares of Series B Preferred Stock at an exercise price of $1.25 per share were issued in connection with the Private offering. These warrants to purchase 423,291 shares of Series B Preferred Stock have been recorded as derivative liabilities. All of these warrants automatically converted into warrants to purchase our common stock upon the effectiveness of our reverse stock split in July 2016. See Note 5.
A summary of warrant issuances are as follows:
As of December 31, 2019, the Company had 3,826,658 shares issuable under warrants outstanding at a weighted average exercise price of $1.05 and an intrinsic value
of $1,375,990.
As of December 31, 2018 the Company had 3,826,658 shares issuable under warrants outstanding at a weighted average exercise price of $1.05 and an intrinsic value of
$3,633,335.
Table:
Warrants | Number | Weighted Average Exercise Price | Weighted Average Remaining Life
Outstanding December 31, 2017 | 3,826,658 | $1.05 | 4.69
Granted | - | - | -
Outstanding December 31, 2018 | 3,826,658 | $1.05 | 3.69
Granted | - | - | -
Outstanding December 31, 2019 | 3,826,658 | $1.05 | 2.69


Question: What is the weighted average remaining life of the outstanding warrants as at December 31, 2017?
Answer: 4.69
NOTE 9 – CONTINGENT PURCHASE PRICE
Our purchase of CareSpeak Communications contains a contingent element that will be paid only if the Company achieves certain patient engagement revenues in 2019 and 2020. The total contingent payment may be up to $3.0 million. The target patient engagement revenues were achieved in 2019 and are expected to be achieved in 2020. The calculated fair value of the contingent payment was $2,365,000 at December 31, 2018 and $3,000,000 at December 31, 2019.
Our purchase of RMDY Health, Inc. also contains a contingent element that will be paid only if the Company achieves certain revenues in 2020 and 2021 related to the RMDY business. The total contingent payment may be up to $30.0 million. The minimum payment is $1.0 million in each of the two years. The calculated fair value of the contingent payment was $3,720,000 at December 31, 2019. We determined the fair value of the Contingent Purchase Price Payable at December 31, 2019 using a Geometric-Brownian motion analysis of the expected revenue and resulting earnout payment using inputs that include the spot price, a risk free rate of return of 1.4%, a term of 2 years, and volatility of 40%. Changes in the inputs could result in a different fair value measurement.
The total fair value of contingent purchase price payable at December 31, 2019 is as follows.
Table:
 | Current | Long-Term   | Total 
CareSpeak Communications, Inc.  | $1,500,000 | $1,500,000 | $3,000,000
RMDY Health, Inc.   | - | 3,720,000 | 3,720,000
Total  | $1,500,000 | $5,220,000 | $6,720,000


Question: What is the proportion of total long-term fair value of contingent purchase price payable over total fair value of contingent purchase price payable?
Answer: 0.78
Calculation: 5,220,000/6,720,000
Long-term Incentive Program Performance Share Awards
During the year ended December 31, 2017, pursuant to the Company’s 2016 Incentive Plan, the Company granted long-term incentive program performance share awards (“LTIP performance shares”). These LTIP performance shares are earned, if at all, based upon the achievement, over a specified period that must not be less than one year and is typically a three-year performance period, of performance goals related to (i) the compound annual growth over the performance period in the sales for the Company as determined by the Company, and (ii) the cumulative operating income or EBITDA over the performance period as determined by the Company. Up to 200% of the LTIP performance shares may be earned upon achievement of performance goals equal to or exceeding the maximum target levels for the performance goals over the performance period. On a quarterly basis, management
A summary of the nonvested LTIP performance shares is as follows:
During the year ended December 31, 2019, the Company revised the expected attainment rates for outstanding LTIP performance shares due to changes in forecasted sales and operating income, resulting in additional stock-based compensation expense of approximately $3.7 million.
Table:
 | Number of Shares at Expected Attainment | Weighted Average Grant Date Fair Value
Nonvested at December 31, 2018 | 540,697 | $19.83
Forfeited | -56,567 | 18.80
Change in expected attainment | 185,339 | 20.09
Nonvested at December 31, 2019 | 669,469 | $20.12


Question: What was the change in nonvested shares at expected attainment between 2018 and 2019?
Answer: 128772
Calculation: 669,469-540,697
condition are valued using a monte carlo model . expected volatility is based on historical volatilities of traded common stock of the company and comparative companies using daily stock prices over the past three years . the expected term is three years and the risk-free interest rate is based on the three-year u.s . treasury rate in effect as of the measurement date . the following table provides the weighted average assumptions used in the monte carlo simulation and the weighted average grant date fair values of psus granted for the years ended december 31: .

Table:
 | 2018 | 2017 | 2016
expected volatility | 17.23% ( 17.23 % ) | 17.40% ( 17.40 % ) | 15.90% ( 15.90 % )
risk-free interest rate | 2.36% ( 2.36 % ) | 1.53% ( 1.53 % ) | 0.91% ( 0.91 % )
expected life ( years ) | 3.0 | 3.0 | 3.0
grant date fair value per share | $ 73.62 | $ 72.81 | $ 77.16
the grant date fair value of psus that vest ratably and have market and/or performance conditions are amortized through expense over the requisite service period using the graded-vesting method .
if dividends are paid with respect to shares of the company 2019s common stock before the rsus and psus are distributed , the company credits a liability for the value of the dividends that would have been paid if the rsus and psus were shares of company common stock .
when the rsus and psus are distributed , the company pays the participant a lump sum cash payment equal to the value of the dividend equivalents accrued .
the company accrued dividend equivalents totaling $ 1 million , less than $ 1 million and $ 1 million to accumulated deficit in the accompanying consolidated statements of changes in shareholders 2019 equity for the years ended december 31 , 2018 , 2017 and 2016 , respectively .
employee stock purchase plan the company maintains a nonqualified employee stock purchase plan ( the 201cespp 201d ) through which employee participants may use payroll deductions to acquire company common stock at a discount .
prior to february 5 , 2019 , the purchase price of common stock acquired under the espp was the lesser of 90% ( 90 % ) of the fair market value of the common stock at either the beginning or the end of a three -month purchase period .
on july 27 , 2018 , the espp was amended , effective february 5 , 2019 , to permit employee participants to acquire company common stock at 85% ( 85 % ) of the fair market value of the common stock at the end of the purchase period .
as of december 31 , 2018 , there were 1.9 million shares of common stock reserved for issuance under the espp .
the espp is considered compensatory .
during the years ended december 31 , 2018 , 2017 and 2016 , the company issued 95 thousand , 93 thousand and 93 thousand shares , respectively , under the espp. .

Question: what was the minimum grant date fair value per share in the table?
Answer: 72.81
Calculation: table_min(grant date fair value per share, none)
As of December 31, 2019, exercisable options had an intrinsic value of less than $0.1 million. The intrinsic value of options exercised was $0.4 million in 2019 and $0.1 million in 2018. The following are the assumptions used in valuing the 2019 and 2018 stock option grants:
In January 2020, we issued options to employees for the purchase of up to 591,004 shares of common stock, at an exercise price of $1.23 per share which vest and become exercisable in four annual installments ending in January 2024. The options have a grant date fair value per share of $1.26.
Table:
Year Ended December 31 |  | 
 | 2019 | 2018
Assumed volatility | 64% - 69% | 75% - 81%
 | (67% weighted average) | (78% weighted average)
Assumed risk free interest rate | 1.8% - 2.7% | 2.2% - 2.8%
 | (2.4% weighted average) | (2.5% weighted average)
Average expected life of options (in years) | 6.1 - 6.3 | 6.2
 | (6.2 weighted average) | (6.2 weighted average)
Expected dividends | - | -


Question: What is the average assumed risk free rate in 2019?
Answer: 2.25
Calculation: (1.8 + 2.7)/2
Summary Disclosures about Contractual Obligations and Commercial Commitments
Our material capital commitments consist of obligations under facilities and operating leases. Some of these leases have free or escalating rent payment provisions. We recognize rent expense under leases on a straight-line basis. We anticipate that we will experience an increase in our capital expenditures and lease commitments as a result of our anticipated growth in operations, infrastructure, personnel and resources devoted to building our brand name.
The following table summarizes our obligations as of March 31, 2019 (dollars in thousands):
We generally do not enter into binding purchase obligations. The purchase obligations above relate primarily to marketing and IT services. The contractual obligations table above excludes unrecognized tax benefits, plus related interest and penalties totaling $1.1 million because we cannot reasonably estimate in which future periods these amounts will ultimately be settled.
We have certain software royalty commitments associated with the shipment and licensing of certain products. Royalty expense is generally based on a fixed cost per unit shipped or a fixed fee for unlimited units shipped over a designated period. Royalty expense, included in cost of software and products revenues was $12.3 million in fiscal 2019 and $4.5 million million in fiscal 2018.
We offer a 90-day limited product warranty for our software. To date, costs relating to this product warranty have not been material.
Table:
 |  |  | Payments Due by Period |  | 
 | Total | Less Than 1 Year | 2-3 Years | 4-5 Years | More Than 5 Years
Operating lease obligations | $23,673 | $9,008 | $10,907 | $2,827 | $931
Purchase obligations | 20,520 | 16,748 | 3,669 | 103 | —
Total | $44,193 | $25,756 | $14,576 | $2,930 | $931


Question: What percentage of operating lease obligations are due in more than 4 years?
Answer: 0.16
Calculation: (931+2,827)/23,673
Non-current provisions
Non-current provisions consisted of the following:
The non-current provision for employee benefits includes long service leave as described above.
The dilapidation provision relates to certain lease arrangements for office space entered into by the Group. These lease arrangements require the Group to restore each premises to its original condition upon lease termination. Accordingly, the Group records a provision for the present value of the estimated future costs to retire long-lived assets at the expiration of these leases.
Table:
 | As of June 30, | 
 | 2019 | 2018
 | (U.S. $ in thousands) | 
Employee benefits | $3,323 | $2,094
Dilapidation provision | 2,759 | 2,269
 | $6,082 | $4,363


Question: What is the dilapidation provision for fiscal year 2019?
Answer: 2,759
NOTE 15 – INCOME TAXES (CONTINUED)
The cumulative tax effect of significant items comprising our net deferred tax amount at the expected rate of 21% is as follows as of December 31, 2019 and 2018:
The ultimate realization of deferred tax assets is dependent upon the Company’s ability to generate sufficient taxable income during the periods in which the net operating losses expire and the temporary differences become deductible. The Company has determined that there is significant uncertainty that the results of future operations and the reversals of existing taxable temporary differences will generate sufficient taxable income to realize the deferred tax assets; therefore, a valuation allowance has been recorded. In making this determination, the Company considered historical levels of income as well as projections for future periods.
The tax years 2016 to 2019 remain open for potential audit by the Internal Revenue Service. There are no uncertain tax positions as of December 31, 2018 or December 31, 2019, and none are expected in the next 12 months. The Company’s foreign subsidiaries are cost centers that are reimbursed for expenses, so generate no income or loss. Pretax book income (loss) is all from domestic operations. Up to four years of returns remain open for potential audit in foreign jurisdictions, however any audits for periods prior to ownership by the Company are the responsibility of the previous owners.
Under certain circumstances issuance of common shares can result in an ownership change under Internal Revenue Code Section 382, which limits the Company’s ability to utilize carry-forwards from prior to the ownership change. Any such ownership change resulting from stock issuances and redemptions could limit the Company’s ability to utilize any net operating loss carry-forwards or credits generated before this change in ownership. These limitations can limit both the timing of usage of these laws, as well as the loss of the ability to use these net operating losses. It is likely that fundraising activities have resulted in such an ownership change.
Table:
 | 2019 | 2018
Deferred tax asset attributable to:       |  | 
Net operating loss carryover  | $3,839,000 | $2,290,000
Stock compensation   | 320,000 | 535,000
Intangible Assets   | - | 124,000
Other   | 36,000 | 3,000
Deferred tax asset  | 4,195,000 | $2,952,000
Deferred tax liabilities attributable to:         |  | 
Fixed assets  | $(13,000) | $(5,000)
Intangibles   | (2,438,000) | -
Other   | (16,000) | (9,000)
Valuation allowance   | (1,728,000) | (2,938,000)
Deferred tax liability  | $(4,195,000) | $(2,952,000)
Net deferred tax asset  | $- | $-


Question: What is the proportion of stock compensation and intangible assets over deferred tax assets in 2018?
Answer: 0.22
Calculation: (535,000+124,000)/2,952,000
Revenues
The following table sets forth the breakdown of revenues (in thousands) by category and segment. Travel revenue includes travel publications (Top 20, Website, Newsflash, Travelzoo Network), Getaways vouchers, and hotel platform and vacation packages. Local revenue includes Local Deals vouchers and entertainment offers (vouchers and direct bookings).
Asia Pacific
Asia Pacific revenues decreased $1.4 million or 17% in 2019 compared to 2018. This decrease was primarily due to the decrease in Travel revenues, the decrease in Local revenues and a $206,000 negative impact from foreign currency movements relative to the U.S. dollar. The decrease in Travel revenues of $887,000 was primarily due to a decrease of number of emails sent. The decrease in Local revenues of $276,000 was primarily due to the decreased number of Local Deals vouchers sold.
Europe
Europe revenues increased $749,000 or 2% in 2019 compared to 2018. This increase was primarily due to the increase in Travel revenues, the decrease in Local revenues and a $1.8 million negative impact from foreign currency movements relative to the U.S. dollar. The increase in Travel revenue of $2.9 million was primarily due to the increased number of emails sent. The decrease in Local revenues of $292,000 was primarily due to the decreased number of Local Deals vouchers sold.
North America
North America revenues increased $710,000 or 1% in 2019 compared to 2018. This increase was primarily due to the increase in Travel revenues offset by the decrease in Local revenue. The increase in Travel revenue of $1.7 million was primarily due to the increased number of emails sent. The decrease in Local revenues of $1.0 was primarily due to the decreased number of Local Deals vouchers sold.
For 2019 and 2018 , none of our customers accounted for 10% or more of our revenue.
Table:
 | Year Ended December 31, | 
 | 2019 | 2018
Asia Pacific |  | 
Travel | $6,274 | $7,351
Local | 216 | 508
Total Asia Pacific revenues | 6,490 | 7,859
Europe |  | 
Travel | 32,081 | 30,856
Local | 4,817 | 5,293
Total Europe revenues | 36,898 | 36,149
North America |  | 
Travel | 57,863 | 56,145
Local | 10,161 | 11,169
Total North America revenues | 68,024 | 67,314
Consolidated |  | 
Travel | 96,218 | 94,352
Local | 15,194 | 16,970
Total revenues | $111,412 | $111,322


Question: What is the total revenues from Europe in 2019 and 2018 respectively?
Answer: 36,898, 36,149
16. SHARE-BASED PAYMENTS continued
c. Employee Share Option Plan
The Employee Share Option Plan (the Option Plan) was approved by shareholders at the Company’s AGM on 9 November 2001 and reaffirmed at the AGM on 24 November 2011.The Employee Share Option Plan (the Option Plan) was approved by shareholders at the Company’s AGM on 9 November 2001 and reaffirmed at the AGM on 24 November 2011. Under the Option Plan, awards are made to eligible executives and other management personnel who have an impact on the Group’s performance. Option Plan awards are delivered in the form of options over shares, which vest over a period of three years subject to meeting performance measures and continuous employment with the Company. Each option is to subscribe for one ordinary share when the option is exercised and, when issued, the shares will rank equally with other shares.
Unless the terms on which an option was offered specified otherwise, an option may be exercised at any time after the vesting date on satisfaction of the relevant performance criteria.
Options issued under the Employee Share Option Plan are valued on the same basis as those issued to KMP, which is described in Note 16(d).
There were no new options issued under the Option Plan during the 30 June 2019 and 30 June 2018 financial years, as the Option Plan was replaced with the Rights Plan as described in Note 16(b).
Movement of options during the year ended 30 June 2019:
1. The original expiry date for this tranche of options was 2 July 2018. However, due to extraordinary circumstances, the remaining 75,000 options could not be exercised during the prior financial year. Therefore, the Board had exercised its discretion during the year to extend the expiry date for the remaining options to 30 September 2018.
2. Options associated with an EPS hurdle are not expected to vest on 31 August 2019 as the minimum performance target will not be met. Options associated with a TSR hurdle will vest on 31 August 2019 in accordance with accounting standards. However, because the minimum target was not met, these options will be restricted and unexercisable. Refer to Section 3b) of the audited Remuneration Report for further details.
Table:
Grant Date | Vesting Date | Expiry Date | Exercise Price $ | No. of Options at Beg. of Year | Options Exercised or Lapsed | No. of Options at End of Year
2 Jul 2013 | 2 Jul 2016 | 30 Sept 2018 1 | 0.92 | 75,000 | (75,000) | -
2 Jul 2014 | 2 Jul 2017 | 2 Jul 2019 | 1.30 | 470,000 | (205,000) | 265,000
2 Jul 2015 | 2 Jul 2018 | 2 Jul 2020 | 2.67 | 1,000,000 | (75,000) | 925,000
22 Dec 2016 | 31 Aug 2019 2 | 22 Dec 2021 | 3.59 | 1,323,730 | - | 1,323,730
Total |  |  |  | 2,868,730 | (355,000) | 2,513,730
Weighted average exercise price |  |  |  |  | $1.51 | $3.01


Question: Why were there no new options issued under the Option Plan during the 30 June 2019 and 30 June 2018 financial years?
Answer: as the Option Plan was replaced with the Rights Plan
Options outstanding that are exercisable and that have vested and are expected to vest as of January 31, 2020 were as follows (outstanding options in thousands, aggregate intrinsic value in in millions):
(1) The aggregate intrinsic values represent the total pre-tax intrinsic values based on VMware's closing stock price of $148.06 as of January 31, 2020, which would have been received by the option holders had all in-the-money options been exercised as of that date.
The total fair value of VMware stock options that vested during the years ended January 31, 2020, February 1, 2019 and February 2, 2018 was $64 million, $35 million and $32 million, respectively. Total fair value of Pivotal stock options that vested during the years ended January 31, 2020, February 1, 2019 and February 2, 2018 was $27 million, $41 million and $23 million, respectively.
The VMware stock options exercised during the years ended January 31, 2020, February 1, 2019 and February 2, 2018 had a pre-tax intrinsic value of $103 million, $56 million, and $62 million, respectively. The Pivotal options exercised during the years ended January 31, 2020 and February 1, 2019 had a pre-tax intrinsic value of $278 million and $97 million, respectively, and was not material during the year ended February 2, 2018. The pre-tax intrinsic value of Pivotal options exercised during the year ended January 31, 2020 includes vested options that were settled in cash as part of the Pivotal acquisition.
Table:
 |  | VMware Stock Options |  | 
 | Outstanding Options | Exercise Price | Weighted- Average Remaining Contractual Term (in years) | Aggregate Intrinsic Value(1)
Exercisable | 945 | $47.24 | 3.81 | $95
Vested and expected to vest | 2,589 | 56.13 | 6.41 | 238


Question: Which types of options had an exercise price that exceeded $50.00?
Answer: Vested and expected to vest
Calculation: 56.13