hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
2019 financial year guidance
The adjusted EBITDA and free cash flow guidance measures for the year ended 31 March 2019 were forward-looking alternative performance measures based on the Group’s assessment of the global macroeconomic outlook and foreign exchange rates of €1:£0.87, €1:ZAR 15.1, €1:TRY 5.1 and €1:EGP 22.1. These guidance measures exclude the impact of licence and spectrum payments, material one-off tax-related payments, restructuring payments, changes in shareholder recharges from India and any fundamental structural change to the Eurozone. They also assume no material change to the current structure of the Group. We believe it is both useful and necessary to report these guidance measures to give investors an indication of the Group’s expected future performance, the Group’s sensitivity to foreign exchange movements and to report actual performance against these guidance measures.
Reconciliations of adjusted EBITDA and free cash flow to the 2019 financial year guidance basis is shown below.
Table:
 |  | Adjusted EBITDA |  | Free cash flow (pre-spectrum)
 | 2019 €m | 2018 €m | Growth | 2019 €m
Reported (IAS 18 basis) | 14,139 | 14,737 | (4.1)% | 5,443
Other activity (including M&A) | (95) | (341) |  | –
Foreign exchange | – | (288) |  | –
Handset financing and settlements | (198) | (674) |  | –
Guidance basis | 13,846 | 13,434 | 3.1% | 5,443


Question: Between 2018 and 2019, which year has higher adjusted EBITDA, reported (IAS 18 basis)?
Answer: 2018
Calculation: 14,737>14,139
FLNG segment
Total operating revenues: On May 31, 2018, the Hilli was accepted by the Customer and, accordingly, commenced operations. As a result, she generated $127.6 million total operating revenues in relation to her liquefaction services for the year ended December 31, 2018.
Vessel operating expenses: This represents the vessel operating expenses incurred by the Hilli since she commenced operations.
Project development expenses: This relates to non-capitalized project-related expenses comprising of legal, professional and consultancy costs. The increase for the twelve months ended December 31, 2018 was primarily as a result of increased engineering consultation fees and front-end engineering and design costs in relation to the Gimi GTA project.
Depreciation: Subsequent to the Customer's acceptance of the Hilli, we determined her to be operational and, therefore, depreciation commenced during the second quarter of 2018.
Other operating gains: Includes the realized and unrealized gain on the oil derivative instrument. In 2018, we recognized a realized gain of $26.7 million, and an unrealized fair value loss of $10.0 million, relating to the LTA oil derivative instrument as a result of the increased price of Brent Crude during the year. The derivative asset was recognized upon the LTA becoming effective in December 2017. In 2017, we recognized an unrealized fair value gain of $15.1 million.
For the year ended December 31, 2018, this is partially offset by a $1.3 million write off of capitalized conversion costs in relation to the Gandria. In addition, subsequent to the decision to wind down OneLNG, we wrote off $12.7 million of the trading balance with OneLNG as we deem it to be no longer recoverable.
Equity in net losses of affiliates: Pursuant to the formation of OneLNG in July 2016, we equity account for our share of net losses in OneLNG. Given the difficulties in finalizing an attractive debt financing package along with other capital and resource priorities, in April 2018, Golar and Schlumberger decided to wind down OneLNG and work on FLNG projects as required on a case-by-case basis. As a result, activity levels have been substantially reduced for the year ended December 31, 2018 and the carrying value of the investment was written down to $nil.
Table:
 |  | December 31, |  | 
(in thousands of $) | 2018 | 2017 | Change | % Change
Total operating revenues | 127,625 | — | 127,625 | 100%
Vessel operating expenses | (26,317) | (2) | (26,315) | 1,315,750%
Voyage expenses | (1,363) | (121) | (1,242) | 1,026%
Administrative expenses | 175 | (1,736) | 1,911 | (110)%
Project development expenses | (16,526) | (2,506) | (14,020) | 559%
Depreciation and amortization | (28,193) | — | (28,193) | 100%
Other operating gains | 2,749 | 15,100 | (12,351) | (82)%
Operating income | 58,150 | 10,735 | 47,415 | 442%
Equity in net losses of affiliates | (2,047) | (8,153) | 6,106 | (75)%


Question: What was the change in total operating revenues between 2017 and 2018?
Answer: 127625
Calculation: 127,625 - 0
In relation to the oil derivative instrument (see note 24), the fair value was determined using the estimated discounted cash flows of the additional payments due to us as a result of oil prices moving above a contractual oil price floor over the term of the liquefaction tolling agreement ("LTA"). Significant inputs used in the valuation of the oil derivative instrument include management’s estimate of an appropriate discount rate and the length of time to blend the long-term and the short-term oil prices obtained from quoted prices in active markets. The changes in fair value of our oil derivative instrument is recognized in each period in current earnings in "Realized and unrealized gain on oil derivative instrument" as part of the consolidated statement of income.
The realized and unrealized (loss)/ gain on the oil derivative instrument is as follows:
The unrealized loss/gain results from movement in oil prices above a contractual floor price over term of the LTA; the realized gain results from monthly billings above the base tolling fee under the LTA. For further information on the nature of this derivative, refer to note 24.
Table:
 |  | Year Ended December 31, | 
(in thousands of $) | 2019 | 2018 | 2017
Realized gain on oil derivative instrument | 13,089 | 26,737 | —
Unrealized (loss)/gain on oil derivative instrument  | (39,090) | (9,970) | 15,100
 | (26,001) | 16,767 | 15,100


Question: In which year was the unrealized loss on oil derivative instrument the highest?
Answer: 2019
Calculation: (39,090) > (9,970) > 15,100
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 change in capital expenditures between 2018 and 2019?
Answer: -13983
Calculation: -44,192-(-30,209)
Non-GAAP Financial Measures
To complement our Consolidated Statements of Operations and Cash Flows, we use non-GAAP financial measures of Adjusted gross margin, Adjusted operating income, Adjusted net income, and Adjusted EBITDA. We believe that Adjusted gross margin, Adjusted operating income, Adjusted net income, and Adjusted EBITDA are complements to U.S. GAAP amounts and such measures are useful to investors. The presentation of these non-GAAP measures is not meant to be considered in isolation or as an alternative to net income as an indicator of our performance, or as an alternative to cash flows from operating activities as a measure of liquidity.
The following table provides a reconciliation from U.S. GAAP Gross margin to non-GAAP Adjusted gross margin (amounts in thousands):
(1) Fiscal years ending March 31, 2018 and 2017 adjusted due to the adoption of ASC 606.
(2) $0.9 million in costs incurred during fiscal year 2018 related to the relocation of the Company's tantalum powder facility equipment from Carson City, Nevada to its existing Matamoros, Mexico plant were reclassified from “Plant start-up costs” to “Restructuring charges” during fiscal year 2019.
Table:
 |  | Fiscal Years Ended March 31, | 
 | 2019 | 2018 | 2017
Net sales (1) | $1,382,818 | $1,200,181 | $757,338
Cost of sales (1) | 924,276 | 860,744 | 571,944
Gross Margin (GAAP) (1) | 458,542 | 339,437 | 185,394
Gross margin as a % of net sales | 33.2% | 28.3% | 24.5%
Non-GAAP adjustments: |  |  | 
Plant start-up costs (2) | (927) | 929 | 427
Stock-based compensation expense | 2,756 | 1,519 | 1,384
Adjusted gross margin (non-GAAP) (1) | $460,371 | $341,885 | $187,205
Adjusted gross margin as a % of net sales | 33.3% | 28.5% | 24.7%


Question: What was the gross margin (GAAP) in 2017?
Answer: 185,394
11. Quarterly financial information (unaudited): (Continued)
(1) Included in net income for the three months ended September 30, 2019 and December 31, 2019 are an unrealized gain and (loss) on foreign exchange on the Company’s 2024 Notes of $6.1 million and ($4.0) million, respectively.
Table:
 |  | Three months ended |  | 
 | March 31, 2018 | June 30, 2018 | September 30, 2018 | December 31, 2018
 |  | (in thousands, except share and per share amounts) |  | 
Service revenue | $128,706 | $129,296 | $130,139 | $132,049
Network operations, including equity-based compensation expense | 54,875 | 54,379 | 54,615 | 55,660
Gains on equipment transactions | 117 | 357 | 416 | 92
Operating income | 20,637 | 21,354 | 22,255 | 22,311
Net income | 6,784 | 6,552 | 8,231 | 7,100
Net income per common share—basic and diluted | 0.15 | 0.15 | 0.18 | 0.16
Weighted-average number of common shares—basic | 44,923,973 | 45,016,767 | 45,105,830 | 45,284,481
Weighted-average number of common shares—diluted | 45,294,697 | 45,536,473 | 45,699,635 | 45,803,418


Question: What are the respective service revenue at June 30 and September 30, 2018?
Answer: $129,296, $130,139
The service cost component of net pension expense represents the estimated cost of future pension liabilities earned associated with active employees. The pension earnings, interest and deferrals (“pension EID”) is comprised of the expected return on plan assets, interest costs on the projected benefit obligations of the plans and amortization of actuarial gains and losses and prior service costs.
Net pension expense is recorded in accounts that are included in both the cost of sales and selling, general and administrative expenses based on the function of the associated employees and in other income (expense), net. The following is a summary of the classification of net pension expense for the years ended June 30, 2019, 2018 and 2017:
As of June 30, 2019 and 2018, amounts capitalized in gross inventory were $1.7 million and $1.7 million, respectively.
Table:
 |  | Years Ended June 30, | 
($ in millions) | 2019 | 2018 | 2017
Cost of sales |  |  | 
Service cost | $10.0 | $10.5 | $20.2
Total cost of sales | 10.0 | 10.5 | 20.2
Selling, general and administrative expenses |  |  | 
Service cost | 1.5 | 1.6 | 3.9
Total selling, general and administrative expenses | 1.5 | 1.6 | 3.9
Other expense |  |  | 
Pension earnings, interest and deferrals | 0.1 | 2.1 | 23.8
Curtailment charge | — | — | 0.5
Total other expense | 0.1 | 2.1 | 24.3
Net pension expense | $11.6 | $14.2 | $48.4


Question: What does the service cost component of net pension expense represent?
Answer: the estimated cost of future pension liabilities earned associated with active employees. The pension earnings, interest and deferrals (“pension EID”) is comprised of the expected return on plan assets, interest costs on the projected benefit obligations of the plans and amortization of actuarial gains and losses and prior service costs.
Annual Recurring Revenue
Beginning with the fourth quarter of 2018, we began monitoring a new operating metric, total annual recurring revenue (“Total ARR”), which is defined as the annualized value of all recurring revenue contracts active at the end of a reporting period. Total ARR includes the annualized value of subscriptions (“Subscription ARR”) and the annualized value of software support contracts related to perpetual licenses (“Perpetual license support ARR”) active at the end of a reporting period and does not include revenue reported as perpetual license or professional services in our consolidated statement of operations. We are monitoring these metrics because they align with how our customers are increasingly purchasing our solutions and how we are managing our business. These ARR measures should be viewed independently of revenue, unearned revenue, and customer arrangements with termination rights as ARR is an operating metric and is not intended to be combined with or replace those items. ARR is not an indicator of future revenue and can be impacted by contract start and end dates and renewal rates.
ARR metrics as of December 31, 2019 and 2018 were as follows (unaudited):
Table:
 | December 31, | 
(in millions, except percentages) | 2019 | 2018
Total ARR | $179.5 | $162.6
Year-over-year percentage increase | 10% | 20%
Subscription ARR | $113.9 | $95.9
Year-over-year percentage increase | 19% | 32%
Perpetual license support ARR | $65.6 | $66.7
Year-over-year percentage increase (decrease) | (2)% | 6%


Question: What was the average year-over-year percentage increase of total ARRs  from 2018 to 2019?
Answer: 15
Calculation: (10%+20%)/2
Note 9 - Software Development Costs
Capitalized software development costs as of December 31, 2019 and 2018 consisted of the following (in thousands):
The weighted average remaining amortization period for the Company’s software development costs is 1.61 years.
Amortization expense for capitalized software development costs was $1.025 million and $1.2 million for each of the years ended December 31, 2019 and 2018.
Table:
 | As of December 31, | 
 | 2019 | 2018
Capitalized software development costs | $6,029 | $5,102
Accumulated amortization | (4,485) | (3,412)
Software development costs, net | 1,544 | $1,690


Question: What was the change in Accumulated amortization from 2018 to 2019?
Answer: -1073
Calculation: -4,485 - (-3,412)
Note 15. Employee Benefit Plans
Defined Benefit Plans
The Company has defined benefit pension plans that cover certain French and German employees. Most of these defined pension plans, which were acquired in the Atmel and Microsemi acquisitions, are unfunded. Plan benefits are provided in accordance with local statutory requirements. Benefits are based on years of service and employee compensation levels. Pension liabilities and charges are based upon various assumptions, updated annually, including discount rates, future salary increases, employee turnover, and mortality rates. The Company’s French pension plan provides for termination benefits paid to covered French employees only at retirement, and consists of approximately one to five months of salary. The Company's German pension plan provides for defined benefit payouts for covered German employees following retirement.
The aggregate net pension expense relating to these two plans is as follows (in millions):
Interest costs and amortization of actuarial losses are recorded in the other (loss) income, net line item in the statements of income.
Table:
 |  | Year Ended March 31, | 
 | 2019 | 2018 | 2017
Service costs | $1.5 | $2.2 | $1.4
Interest costs | 1.1 | 1.0 | 1.0
Amortization of actuarial loss | 0.4 | 0.8 | —
Settlements | — | — | 0.5
Net pension period cost | $3.0 | $4.0 | $2.9


Question: What were the service costs in 2018?
Answer: 2.2
7. ACCOUNTS RECEIVABLES ALLOWANCES
Summarized below is the activity in our accounts receivable allowances including compensation credits and doubtful accounts as follows (in thousands):
The balances at the end of fiscal years 2019, 2018 and 2017 are comprised primarily of compensation credits of $4.5 million, $6.3 million and $8.9 million, respectively.
Table:
 |  | Fiscal Year | 
 | 2019 | 2018 | 2017
Balance - beginning of year | $6,795 | $9,410 | $3,279
Provision, net | 11,989 | 15,465 | 29,512
Charge-offs | (13,737) | (18,080) | (23,381)
Balance - end of year | $5,047 | 6,795 | 9,410


Question: In which year was Balance - end of year less than 7,000 thousands?
Answer: 2019, 2018
Calculation: locate and analyze Balance - end of year in row 6
Assets and Liabilities Measured at Fair Value
The following table presents our assets and liabilities measured at fair value on a recurring or non-recurring basis at December 31,
2019:
The carrying amount of money market funds approximates fair value as of each reporting date because of the short maturity of those
instruments.
The Company did not have any non-financial assets or non-financial liabilities that were recognized or disclosed at fair value as of
December 31, 2019.
Table:
 | Level 1 | Level 2 | Level 3
 | (In thousands) |  | 
Assets |  |  | 
Cash equivalents: Money market funds | $256,915 | $ - | $ -
Other current assets: |  |  | 
Indemnification - Sale of SSL | $ - | $ - | $ 598
Liabilities |  |  | 
Long term liabilities: |  |  | 
Indemnification - Globalstar do Brasil S.A. | $ - | $ - | $145


Question: What are the fair value of the company's respective non-financial assets and liabilities recognised or disclosed as of December 31, 2019?
Answer: 0, 0
34| | duke realty corporation annual report 2010 value of $ 173.9 million for which our 80% ( 80 % ) share of net proceeds totaled $ 138.3 million . we expect , and are under contract , to sell additional buildings to duke/ princeton , llc by the end of the second quarter 2011 , subject to financing and other customary closing conditions . the total 2011 sale is expected to consist of 13 office buildings , totaling over 2.0 million square feet , with an agreed upon value of $ 342.8 million , and is expected to generate proceeds of $ 274.2 million for the 80% ( 80 % ) portion that we sell . uses of liquidity our principal uses of liquidity include the following : 2022 accretive property investment ; 2022 leasing/capital costs ; 2022 dividends and distributions to shareholders and unitholders ; 2022 long-term debt maturities ; 2022 repurchases of outstanding debt and preferred stock ; and 2022 other contractual obligations . property investment we evaluate development and acquisition opportunities based upon market outlook , supply and long-term growth potential . our ability to make future property investments is dependent upon our continued access to our longer-term sources of liquidity including the issuances of debt or equity securities as well as generating cash flow by disposing of selected properties . in light of current economic conditions , management continues to evaluate our investment priorities and is focused on accretive growth . we have continued to operate at a substantially reduced level of new development activity , as compared to recent years , and are focused on the core operations of our existing base of properties . leasing/capital costs tenant improvements and leasing costs to re-let rental space that had been previously under lease to tenants are referred to as second generation expenditures . building improvements that are not specific to any tenant but serve to improve integral components of our real estate properties are also second generation expenditures . one of our principal uses of our liquidity is to fund the second generation leasing/capital expenditures of our real estate investments . the following is a summary of our second generation capital expenditures for the years ended december 31 , 2010 , 2009 and 2008 , respectively ( in thousands ) : .

Table:
 | 2010 | 2009 | 2008
second generation tenant improvements | $ 36676 | $ 29321 | $ 36885
second generation leasing costs | 39090 | 40412 | 28205
building improvements | 12957 | 9321 | 9724
totals | $ 88723 | $ 79054 | $ 74814
.

Question: in 2009 what was the percent of the total second generation capital expenditures associated with leasing costs
Answer: 51.1%
Calculation: divide(40412, 79054)
Accumulated Other Comprehensive Income
The table below details where reclassifications of realized transactions out of AOCI are recorded on the consolidated statements of income (amounts in millions).
Table:
 |  | Year ended March 31, |  | 
Description of AOCI Component | 2019 | 2018 | 2017 | Related Statement of Income Line
Unrealized losses on available-for-sale securities | $(5.6) | $(15.2) | $(1.5) | Other income, net
Amortization of actuarial loss | (1.0) | (0.8) | — | Other income, net
Reclassification of realized transactions, net of taxes | $(6.6) | $(16.0) | $(1.5) | Net Income


Question: What were the Unrealized losses on available-for-sale securities in 2017?
Answer: (1.5)
Non‐executive Director fees are paid from an aggregate annual fee pool of $4,000,000, as approved by shareholders at the AGM on 18 November 2010. Total board and committee fees paid during F19 were $2,859,903 (refer to section 5.1).
Non‐executive Directors do not receive variable pay and no Directors’ fees are paid to Executive Directors.
In recognition of the equal importance and workload of all of the Board’s Committees, the Board reviewed Non‐executive Director fees and determined to increase Chair and Member fees for the People Performance Committee and Sustainability Committee as detailed in the table below, effective 1 July 2019. The table below provides a summary of F19 and F20 Board and Committee fees:
Table:
 | CHAIR |  | MEMBER | 
 | F19 FEE | F20 FEE | F19 FEE | F20 FEE
BOARD AND COMMITTEE FEES ($) | INCL. SUPER | INCL. SUPER | INCL. SUPER | INCL. SUPER
Board | $790,531 | $790,531 | $254,990 | $254,990
Audit, Risk Management and Compliance Committee | $65,000 | $65,000 | $32,500 | $32,500
People Performance Committee | $54,525 | $65,000 | $27,265 | $32,500
Sustainability Committee | $45,000 | $65,000 | $22,500 | $32,500
Nomination Committee | Nil | Nil | Nil | Nil


Question: What is the difference between the fees paid to a member in the board compared to a member in the sustainability committee in F19?
Answer: 232490
Calculation: 254,990 - 22,500