hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
NOTE 11 – STOCK COMPENSATION
The Company sponsors a stock-based incentive compensation plan known as the 2013 Equity Compensation Plan (the “Plan”), which was established by the Board of Directors of the Company in June 2013. A total of 500,000 shares were initially reserved for issuance under the Plan. The Plan was amended several times since then to eventually increase the authorized shares to 2,500,000 as of December 31, 2019. A total of 1,624,221 shares of common stock underlying options were outstanding at December 31, 2019. The Company had 236,614 remaining shares available to grant under the Plan at December 31, 2019.
The Plan allows the Company to grant incentive stock options, non-qualified stock options, stock appreciation rights, or restricted stock. The incentive stock options are exercisable for up to ten years, at an option price per share not less than the fair market value on the date the option is granted. The incentive stock options are limited to persons who are regular full-time employees of the Company at the date of the grant of the option. Non-qualified options may be granted to any person, including, but not limited to, employees, independent agents, consultants and attorneys, who the Company’s Board or Compensation Committee believes have contributed, or will contribute, to the success of the Company. Non-qualified options may be issued at option prices of less than fair market value on the date of grant and may be exercisable for up to ten years from date of grant. The option vesting schedule for options granted is determined by the Compensation Committee of the Board of Directors at the time of the grant. The Plan provides for accelerated vesting of unvested options if there is a change in control, as defined in the Plan.
The compensation cost that has been charged against income related to options for the years ended December 31, 2019 and 2018, was $1,687,745 and $1,317,904, respectively. No income tax benefit was recognized in the income statement and no compensation was capitalized in any of the years presented.
The Company had the following option activity during the years ended December 31, 2019 and 2018:
Of the options outstanding at December 31, 2019, 1,143,637 were exercisable with a weighted average contractual life of 1.9 years.
Table:
 | Number of Options | Weighted average exercise price | Weighted average remaining contractual life (years) | Aggregate intrinsic value $
Outstanding, January 1, 2018 | 1,368,772 | $3.12 |  | 
Granted – 2018 | 401,099 | $9.27 |  | 
Exercised – 2018 | (165,169) | $3.16 |  | 
Expired – 2018 | (50,002) | $5.48 |  | 
Outstanding, December 31, 2018 | 1,554,700 | $4.63 | 3.0 | 
Granted – 2019 | 410,134 | $12.28 |  | 
Exercised – 2019 | (251,063) | $3.73 |  | 
Expired – 2019 | (89,550) | $12.55 |  | 
Outstanding, December 31, 2019 | 1,624,221 | $6.27 | 2.6 | $7,925,643
Exercisable, December 31, 2019 | 1,143,637 | $4.39 | 1.9 | $7,197,053


Question: What is the percentage change in the number of shares outstanding at the end of 2018 compared to the start of 2018?
Answer: 13.58
Calculation: (1,554,700-1,368,772)/1,368,772
Executive Annual Incentive Plan Target Opportunities: The following table presents each NEO’s target incentive opportunity for FY19 under the FY19 Executive Annual Incentive Plan (the ‘‘FY19 EAIP’’):
(1) In connection with Mr. Kapuria’s promotion, his FY19 Individual Annual Incentive Target under the FY19 EAIP increased from 60% to 100% effective May 8, 2018. Mr. Kapuria’s prorated target annual incentive value for FY19 is $427,451.
Table:
 | FY19 Individual Annual | FY19
NEO | Incentive Target (%) | Target ($)
Gregory S. Clark | 150 | 1,500,000
Nicholas R. Noviello | 100 | 650,000
Amy L. Cappellanti-Wolf | 70 | 308,000
Samir Kapuria(1) | 100 | 450,000
Scott C. Taylor | 100 | 600,000


Question: What is the total FY19 target($) for all NEOs?
Answer: 3508000
Calculation:  1,500,000+650,000+308,000+450,000+600,000
ADVANCED ENERGY INDUSTRIES, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (continued) (in thousands, except per share amounts)
NOTE 23. SUPPLEMENTAL QUARTERLY FINANCIAL DATA (UNAUDITED)
The following tables present unaudited quarterly results for each of the eight quarters in the periods ended December 31, 2019 and 2018, in thousands. We believe that all necessary adjustments have been included in the amounts stated below to present fairly such quarterly information. Due to the volatility of the industries in which our customers operate, the operating results for any quarter are not necessarily indicative of results for any subsequent period.
Table:
 |  | Quarter Ended |  | 
 | December 31, 2019 | September 30, 2019 | June 30, 2019 | March 31, 2019
Sales, net | $  338,268 | $  175,127 | $ 134,810 | $ 140,743
Gross Profit | $112,295 | $73,491 | $64,126 | $65,740
Restructuring Expense | $1,418 | $152 | $1,795 | $1,673
Operating income | $22,202 | $9,390 | $11,005 | $11,791
Income from continuing operations, net of income taxes | $  10,479 | $  7,256 | $ 23,373 | $ 15,387
Loss (income) from discontinued operations, net of income taxes | $  (210) | $  375 | $ 8,324 | $ (9)
Net Income | $  10,269 | $  7,631 | $ 31,697 | $ 15,378
Income from continuing operations attributable to noncontrolling interest | $  5 | $  10 | $ 11 | $ 8
Net income attributable to Advanced Energy Industries, Inc. | $  10,264 | $  7,621 | $ 31,686 | $ 15,370
Earnings (Loss) Per Share: |  |  |  | 
Continuing Operations: |  |  |  | 
Basic earnings per share | $  0.27 | $  0.19 | $ 0.61 | $ 0.40
Diluted earnings per share | $  0.27 | $  0.19 | $ 0.61 | $ 0.40
Discontinued Operations: |  |  |  | 
Basic loss per share | $  (0.01) | $  0.01 | $ 0.22 | $ —
Diluted loss per share | $  (0.01) | $  0.01 | $ 0.22 | $ —
Net Income: |  |  |  | 
Basic earnings per share | $  0.27 | $  0.20 | $ 0.83 | $ 0.40
Diluted earnings per share | $  0.27 | $  0.20 | $ 0.82 | $ 0.40


Question: Why are the operating results for any quarter not necessarily indicative of results for any subsequent period?
Answer: volatility of the industries in which our customers operate
part ii item 5 . market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities our class a common stock trades on the new york stock exchange under the symbol 201cma 201d . at february 8 , 2019 , we had 73 stockholders of record for our class a common stock . we believe that the number of beneficial owners is substantially greater than the number of record holders because a large portion of our class a common stock is held in 201cstreet name 201d by brokers . there is currently no established public trading market for our class b common stock . there were approximately 287 holders of record of our non-voting class b common stock as of february 8 , 2019 , constituting approximately 1.1% ( 1.1 % ) of our total outstanding equity . stock performance graph the graph and table below compare the cumulative total stockholder return of mastercard 2019s class a common stock , the s&p 500 financials and the s&p 500 index for the five-year period ended december 31 , 2018 . the graph assumes a $ 100 investment in our class a common stock and both of the indices and the reinvestment of dividends . mastercard 2019s class b common stock is not publicly traded or listed on any exchange or dealer quotation system . total returns to stockholders for each of the years presented were as follows : indexed returns base period for the years ended december 31 .

Table:
company/index | base period 2013 | base period 2014 | base period 2015 | base period 2016 | base period 2017 | 2018
mastercard | $ 100.00 | $ 103.73 | $ 118.05 | $ 126.20 | $ 186.37 | $ 233.56
s&p 500 financials | 100.00 | 115.20 | 113.44 | 139.31 | 170.21 | 148.03
s&p 500 index | 100.00 | 113.69 | 115.26 | 129.05 | 157.22 | 150.33
.

Question: as of february 8 , 2019 what was the number of shares outstanding
Answer: 26090
Calculation: divide(287, 1.1)
Stock Repurchase Program
As of April 26, 2019, our Board of Directors has authorized the repurchase of up to $13.6 billion of our common stock under our stock repurchase program . Under this program, which we may suspend or discontinue at any time, we may purchase shares of our outstanding common stock through solicited or unsolicited transactions in the open market, in privately negotiated transactions, through accelerated share repurchase programs, pursuant to a Rule 10b5-1 plan or in such other manner as deemed appropriate by our management.
The following table summarizes activity related to this program (in millions, except per share amounts):
The aggregate purchase price of our stock repurchases for fiscal 2019 consisted of $2.1 billion of open market purchases of which $1.0 billion and $1.1 billion were allocated to additional paid-in capital and retained earnings (accumulated deficit), respectively.
Since the May 13, 2003 inception of our stock repurchase program through April 26, 2019, we repurchased a total of 313 million shares of our common stock at an average price of $37.46 per share, for an aggregate purchase price of $11.7 billion.
Table:
 |  | Year Ended | 
 | April 26, 2019 | April 27, 2018 | April 28, 2017
Number of shares repurchased | 29 | 15 | 22
Average price per share | $ 72.87 | $ 51.57 | $ 32.72
Aggregate purchase price | $ 2,111 | $ 794 | $ 705
Remaining authorization at end of period | $ 1,889 | $ 4,000 | $ 794


Question: What did the company's Board of Directors authorize as of 2019?
Answer: the repurchase of up to $13.6 billion of our common stock under our stock repurchase program
Note 10. Prepaid Expenses
Prepaid expenses consisted of the following (in thousands):
Table:
 | December 31, | 
 | 2019 | 2018
Prepaid maintenance | $6,218 | $5,888
Prepaid insurance | 5,321 | 4,500
Prepaid software | 4,236 | 3,499
Prepaid rent | 421 | 3,471
Prepaid other | 4,672 | 6,396
 | $20,868 | $23,754


Question: What was the change in prepaid insurance in 2019 from 2018?
Answer: 821
Calculation: 5,321-4,500
NOTE 10. EARNINGS PER SHARE
The following table reflects the reconciliation between basic and diluted earnings per share.
Per share information is based on the weighted average number of common shares outstanding for each of the fiscal years. Stock options and restricted stock have been included in the calculation of earnings per share to the extent they are dilutive. The two-class method for computing EPS has not been applied because no outstanding awards contain non-forfeitable rights to participate in dividends. There were no anti-dilutive stock options and restricted stock excluded for fiscal 2019, 41 shares excluded for fiscal 2018, and 32 shares excluded for fiscal 2017.
Table:
 | Year Ended June 30, |  | 
 | 2019 | 2018 | 2017
Net Income | $271,885 | $365,034 | $229,561
Common share information: |  |  | 
Weighted average shares outstanding for basic earnings per share | 77,160 | 77,252 | 77,856
Dilutive effect of stock options and restricted stock | 187 | 333 | 399
Weighted average shares outstanding for diluted earnings per share | 77,347 | 77,585 | 78,255
Basic earnings per share | $3.52 | $4.73 | $2.95
Diluted earnings per share | $3.52 | $4.70 | $2.93


Question: What is the average net income for 2018 and 2019?
Answer: 318459.5
Calculation: (271,885+365,034)/2
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 , 2012 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 2017 , we repurchased 37122405 shares of our common stock at an average price of $ 110.50 . the following table presents common stock repurchases during each month for the fourth quarter of 2017 : 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 remaining under the plan or program [b] .

Table:
period | total number of shares purchased [a] | average price paid per share | total number of shares purchased as part of a publicly announcedplan or program [b] | maximum number of shares remaining under the plan or program [b]
oct . 1 through oct . 31 | 3831636 | $ 113.61 | 3800000 | 89078662
nov . 1 through nov . 30 | 3005225 | 117.07 | 2937410 | 86141252
dec . 1 through dec . 31 | 2718319 | 130.76 | 2494100 | 83647152
total | 9555180 | $ 119.58 | 9231510 | n/a
[a] total number of shares purchased during the quarter includes approximately 323670 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] effective january 1 , 2017 , our board of directors authorized the repurchase of up to 120 million shares of our common stock by december 31 , 2020 .
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. .

Question: what percent of the total shares purchased during the fourth quarter of 2017 were purchased in december?
Answer: 28%
Calculation: divide(2718319, 9555180)
12. INCOME TAXES
On December 22, 2017, the Tax Cuts and Jobs Act (“Tax Act”) was signed into law in the U.S. The Tax Act significantly revised the future ongoing U.S. corporate income tax by, among other things, lowering the U.S. corporate income tax rate to 21% from 35%, providing full expensing for investments in new and used qualified property made after September 27, 2017, and implementing a territorial tax system. In connection with the transition to the new territorial tax system, a one-time transition tax on certain unrepatriated earnings of foreign subsidiaries was imposed for fiscal 2018 (the “Transitional Repatriation Tax”), for which an election can be made to pay over eight years. In addition, the Tax Act included two new U.S. tax base erosion provisions, the Global Intangible Low-Taxed Income (“GILTI”) provisions and the Base- Erosion and Anti-Abuse Tax (“BEAT”) provisions, which became effective for the Company during fiscal 2019. The GILTI provisions generally result in inclusion of income earned by foreign subsidiaries in the U.S. taxable income.
In response to the Tax Act, the SEC issued Staff Accounting Bulletin No. 118 which allowed companies to recognize provisional estimates in the preparation of a Company’s financial statements and permitted up to a one year measurement period after the enactment date of the Tax Act to finalize the recording of the related tax impacts.
During fiscal 2018, the Company recorded a net provisional tax expense of $77.3 million for the estimated effects of the Tax Act. This was comprised of a provisional Transitional Repatriation Tax expense of $116.4 million, offset by a provisional deferred tax benefit of $39.1 million from the remeasurement of U.S. deferred tax assets and liabilities. The Company completed its analysis of the impact of the Tax Act during the third quarter of fiscal 2019, and during the first three quarters of fiscal 2019 recorded a net discrete income tax benefit adjustment of $17.0 million to the prior year provisional estimates, comprised of a $1.9 million reduction to the provisional Transitional Repatriation Tax and a $15.1 million increase in U.S. deferred tax assets.
The GILTI provisions became effective for the Company in fiscal 2019 and resulted in a net $30.4 million tax expense, consisting of a $70.8 million expense related to the inclusion of unremitted foreign earnings offset by a $40.4 million tax benefit from additional foreign tax credits. The Company has made an accounting policy decision under U.S. GAAP to treat taxes due on future GILTI inclusions in U.S. taxable income as a current-period expense (the “period cost method”).
Income (loss) before income taxes consists of the following components (in thousands):
Table:
 |  | Fiscal Year | 
 | 2019 | 2018 | 2017
United States | $(297,975) | $(151,083) | $2,439
Foreign | 389,767 | 168,228 | 24,866
Total | $91,792 | $17,145 | $27,305


Question: What is the company's average loss before income taxes from the United States in 2018 and 2019?
Answer: 224529
Calculation: (151,083 + 297,975)/2
The reconciliation between U.S. federal income taxes at the statutory rate and income tax expense (benefit) was as follows:
(1) The U.S. federal statutory rate was 21% for fiscal 2019, 24.58% for fiscal 2018, and 35%
for fiscal 2017.
(2) Excludes items which are separately presented.
The income tax benefit for fiscal 2019 included a $216 million income tax benefit related to the tax impacts of certain measures of the Switzerland Federal Act on Tax Reform and AHV Financing (“Swiss Tax Reform”), a $90 million income tax benefit related to the effective settlement of a tax audit in a non-U.S. jurisdiction, and $15 million of income tax expense associated with the tax impacts of certain legal entity restructurings and intercompany transactions. See “Swiss Tax Reform” below for additional information regarding Swiss Tax Reform.
The income tax benefit for fiscal 2018 included a $1,222 million net income tax benefit associated with the tax impacts of certain legal entity restructurings and intercompany transactions that occurred in the quarter ended September 28, 2018. The net income tax benefit of $1,222 million related primarily to the recognition of certain non-U.S. loss carryforwards and basis differences in subsidiaries expected to be utilized against future taxable income, partially offset by a $46 million increase in the valuation allowance for certain U.S. federal tax credit carryforwards. The income tax benefit for fiscal 2018 also included $567 million of income tax expense related to the tax impacts of the Tax Cuts and Jobs Act (the “Act”) and a $61 million net income tax benefit related to the tax impacts of certain legal entity restructurings that occurred in the quarter ended December 29, 2017. See “Tax Cuts and Jobs Act” below for additional information regarding the Act.
The income tax expense for fiscal 2017 included a $52 million income tax benefit associated with the tax impacts of certain intercompany transactions and the corresponding reduction in the valuation allowance for U.S. tax loss carryforwards, a $40 million income tax benefit related to share-based payments and the adoption of ASU No. 2016-09, and a $14 million income tax benefit associated with pre-separation tax matters.
Table:
 |  | Fiscal | 
 | 2019 | 2018 | 2017
 |  | (in millions) | 
Notional U.S. federal income tax expense at the statutory rate (1) | $ 406 | $ 551 | $ 602
Adjustments to reconcile to the income tax expense (benefit): |  |  | 
U.S. state income tax benefit, net | (5) | (7) | (4)
Tax law changes | 15 | 638 | 7
Tax credits | (22) | (8) | (8)
Non-U.S. net earnings(2) | (166) | (213) | (355)
Change in accrued income tax liabilities | (61) | 13 | 24
Valuation allowance | (163) | 33 | (1)
Legal entity restructuring and intercompany transactions | 3 | (1,329) | (40)
Excess tax benefits from share-based payments | (8) | (24) | (40)
Other | (14) | 2 | (5)
Income tax expense (benefit) | $ (15) | $ (344) | $ 180


Question: What do the Non-U.S. net earnings exclude?
Answer: items which are separately presented.
3.6 PROFIT FOR THE YEAR
(1) Fiscal 2018 was restated to comply with IFRS 15 and to reflect a change in accounting policy as well as to reclassify results from Cogeco Peer 1 as discontinued operations. For further details, please consult the "Accounting policies" and "Discontinued operations" sections.
(2) The non-controlling interest represents a participation of 21% in Atlantic Broadband's results by Caisse de dépôt et placement du Québec ("CDPQ"), effective since the MetroCast acquisition on January 4, 2018.
Fiscal 2019 profit for the year from continuing operations and profit for the year from continuing operations attributable to owners of the Corporation decreased by 7.2% and 9.4%, respectively, as a result of: • last year's $94 million income tax reduction following the United States tax reform; and • the increase in depreciation and amortization mostly related to the impact of the MetroCast acquisition; partly offset by • higher adjusted EBITDA mainly as a result of the impact of the MetroCast acquisition; • the decrease in financial expense; and • the decrease in integration, restructuring and acquisition costs.
Fiscal 2019 profit for the year and profit for the year attributable to owners of the Corporation increased by 20.0% and 18.4%, respectively, mainly due to a profit for the year from discontinued operations of $75.4 million resulting from the sale of Cogeco Peer 1 in the third quarter of fiscal 2019 compared to a loss for the year from discontinued operations of $24.4 million for the prior year in addition to the elements mentioned above.
Table:
Years ended August 31, | 2019 | 2018 (1) | Change
(in thousands of dollars, except percentages and earnings per share) | $ | $ | %
Profit for the year from continuing operations | 356,908 | 384,578 | (7.2)
Profit for the year | 432,288 | 360,197 | 20.0
Profit for the year from continuing operations attributable to owners of the Corporation | 339,973 | 375,214 | (9.4)
Profit for the year attributable to owners of the Corporation | 415,353 | 350,833 | 18.4
Profit for the year from continuing operations attributable to non-controlling interest(2) | 16,935 | 9,364 | 80.9
Basic earnings per share from continuing operations | 6.89 | 7.61 | (9.5)
Basic earnings per share | 8.41 | 7.12 | 18.1


Question: By what percentage did the profit for the year attributable to owners of the Corporation increased by?
Answer: 18.4%