hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
Administrative expenses
The Group has adopted IFRS 16 ‘Leases’ in the period, which impacts Other costs and Depreciation & amortisation within Operating profit. Property and vehicle rental charges are no longer included in other costs, and depreciation now includes depreciation on leased assets. Prior period comparatives have been restated to reflect these changes as the fully retrospective approach has been used.
Operating costs continue to be well controlled, with administrative expenses increasing by 3% to £112.3m (2018 restated: £108.8m).
People costs, which comprise all staff costs including third-party contractor costs, increased by 3% in the year to £56.4m (2018: £54.8m). The increase in people costs was driven primarily by underlying salary costs which increased due to strong competition for digital talent, however this has been partially offset by a reduction in average full-time equivalent employees (‘FTEs’) (including contractors) to 804 (2018: 824). The number of FTEs was particularly impacted in the fourth quarter by the transfer of 15 staff to Dealer Auction, our joint venture with Cox Automotive UK. Share-based payments, including applicable national insurance costs of £5.9m (2018: £3.7m), have been included within people costs. The year-on-year increase in the share-based payment charge was due to leavers under the Performance Share Plan in 2018 for which a credit was recognised in the prior year, and a change in the way senior management are remunerated. The Group now settles a greater proportion of the senior management incentive scheme in shares which increases the share-based payment charge with an offset realised within cash bonuses.
Marketing spend increased in line with revenue by 8% to £17.6m (2018: £16.3m), as we look to maintain and enhance our audience position and educate consumers on new products such as new car offerings and search by monthly payment.
Other costs, which include data services, property related costs and other overheads, remain well controlled and increased by 2% on a like-for-like basis to £29.4m (2018 restated: £28.7m).
Depreciation & amortisation remained broadly flat at £8.9m (2018 restated: £9.0m). Within this was depreciation of £2.0m in relation to lease assets (2018 restated: £1.9m).
1    2018 has been restated for the impact of IFRS 16.
Table:
 | 2019 | 2018 | 
Costs | £m | £m | Change
People costs | 56.4 | 54.8 | 3%
Marketing | 17.6 | 16.3 | 8%
Other costs | 29.4 | 28.7 | 2%
Depreciation and amortisation | 8.9 | 9.0 | (1%)
Total administrative expenses | 112.3 | 108.8 | 3%


Question: What are Marketing costs in 2019?
Answer: £17.6m
Class A
As of December 31, 2019 and 2018, there were no weighted average shares of unvested Class A restricted common stock shares considered to be participating securities.
The computation of diluted earnings per share assumes the issuance of common stock for all potentially dilutive stock options and restricted stock units not classified as participating securities.
As of December 31, 2019, there were 1,718,865 shares of Class A restricted stock units and 1,478,756 Class A stock options outstanding and considered to be potentially dilutive securities. As of December 31, 2018, there were 912,315 shares of Class A restricted stock units and 866,011 Class A stock options outstanding and considered to be potentially dilutive securities.
The components of the calculation of basic earnings per share and diluted earnings per share are as follows:
For annual earnings per share calculations, there were 407,120 and 651,154 dilutive equity awards outstanding for the years ended December 31, 2019 and 2018. Awards of 920,845 and 469,112 shares of common stock for 2019 and 2018, respectively, were not included in the computation of diluted earnings per share because inclusion of these awards would be anti-dilutive.
Table:
 | Years Ended December 31, | 
 | 2019 | 2018
Net income | $8,675 | $13,489
Weighted average common shares outstanding: |  | 
Class A common stock - basic | 89,251,818 | 88,394,580
Class A common stock - diluted | 89,658,938 | 89,045,734


Question: What is the change in Net income from Years Ended December 31, 2018 to 2019?
Answer: -4814
Calculation: 8,675-13,489
Liquidity and Capital Resources
Our primary sources of liquidity are cash flows from operations, available cash reserves and debt capacity available under various credit facilities. We could raise additional funds through other public or private debt or equity financings. We may use our available or additional funds to, among other things
facilitate purchases, redemptions and exchanges of shares and pay dividends;
acquire complementary businesses or technologies;
take advantage of opportunities, including more rapid expansion; or
develop new services and solutions.
As of August 31, 2019, Cash and cash equivalents were $6.1 billion, compared with $5.1 billion as of August 31, 2018.
Cash flows from operating, investing and financing activities, as reflected in our Consolidated Cash Flows Statements, are summarized in the following table:
Operating activities: The $600 million year-over-year increase in operating cash flow was due to higher net income as well as changes in operating assets and liabilities, including an increase in accounts payable, partially offset by higher tax disbursements.
Investing activities: The $506 million increase in cash used was primarily due to higher spending on business acquisitions and investments. For additional information, see Note 6 (Business Combinations) to our Consolidated Financial Statements under Item 8, “Financial Statements and Supplementary Data.”
Financing activities: The $58 million increase in cash used was primarily due to an increase in cash dividends paid as well as an increase in purchases of shares, partially offset by an increase in proceeds from share issuances and a decrease in the purchase of additional interests in consolidated subsidiaries. For additional information, see Note 14 (Material Transactions Affecting Shareholders’ Equity) to our Consolidated Financial Statements under Item 8, “Financial Statements and Supplementary Data.”
We believe that our current and longer-term working capital, investments and other general corporate funding requirements will be satisfied for the next twelve months and thereafter through cash flows from operations and, to the extent necessary, from our borrowing facilities and future financial market activities
Substantially all of our cash is held in jurisdictions where there are no regulatory restrictions or material tax effects on the free flow of funds. In addition, domestic cash inflows for our Irish parent, principally dividend distributions from lower-tier subsidiaries, have been sufficient to meet our historic cash requirements, and we expect this to continue into the future.
Table:
 | Fiscal 2019 | Fiscal 2018 | 2019 to 2018 Change
 |  | (in millions of U.S. dollars) | 
Net cash provided by (used in): |  |  | 
Operating activities | $6,627 | $6,027 | $600
Investing activities | (1,756) | (1,250) | (506)
Financing activities | (3,767) | (3,709) | (58)
Effect of exchange rate changes on cash and cash equivalents | (39) | (134) | 95
Net increase (decrease) in cash and cash equivalents | $1,065 | $934 | $131


Question: What is the company's increase in income from operating activities between 2018 and 2019? 
Answer: $600
As of December 31, 2019 and 2018, the fair value of the 2022 Notes, which was determined based on inputs that are observable in the market or that could be derived from, or corroborated with, observable market data, quoted price of the 2022 Notes in an over-the-counter market (Level 2), and carrying value of debt instruments (carrying value excludes the equity component of the Company’s convertible notes classified in equity) were as follows (in thousands):
In connection with the issuance of the 2022 Notes, the Company entered into capped call transactions with certain counterparties affiliated with the initial purchasers and others. The capped call transactions are expected to reduce potential dilution of earnings per share upon conversion of the 2022 Notes.
Under the capped call transactions, the Company purchased capped call options that in the aggregate relate to the total number of shares of the Company’s common stock underlying the 2022 Notes, with an initial strike price of approximately $33.71 per share, which corresponds to the initial conversion price of the 2022 Notes and is subject to anti-dilution adjustments substantially similar to those applicable to the conversion rate of the 2022 Notes, and have a cap price of approximately $47.20.
The cost of the purchased capped calls of $12.9 million was recorded to shareholders’ equity and will not be re-measured.
Based on the closing price of the Company’s common stock of $78.08 on December 31, 2019, the if-converted value of the 2022 Notes was more than their respective principal amounts.
Table:
 |  | As of December 31, |  | 
 | 2019 |  | 2018 | 
 | Fair Value | Carrying Value | Fair Value | Carrying Value
2022 Notes | $215,801 | $79,224 | $ 189,802 | $94,097


Question: What is the average Carrying Value for the period December 31, 2019 to December 31, 2018?
Answer: 86660.5
Calculation: (79,224+94,097) / 2
NOTE 14-INFORMATION CONCERNING PRODUCT LINES, GEOGRAPHIC INFORMATION, ACCOUNTS RECEIVABLE AND REVENUE CONCENTRATION
The Company identifies its business segments based on business activities, management responsibility and geographic location. For all periods presented, the Company operated in a single reportable business segment.
The following is a breakdown of revenue by product family (in thousands):
(1) New products include all products manufactured on 180 nanometer or smaller semiconductor processes, eFPGA IP license, QuickAI and SensiML AI software as a service (SaaS) revenues. Mature products include all products produced on semiconductor processes larger than 180 nanometer.
Table:
 |  | Fiscal Years | 
 | 2019 | 2018 | 2017
Revenue by product line (1) : |  |  | 
New products | $3,123 | $5,735 | $5,853
Mature products | 7,187 | 6,894 | 6,296
Total revenue | $10,310 | $12,629 | $12,149


Question: What are the respective total revenue in 2018 and 2019? 
Answer: $12,629, $10,310
The following table provides a reconciliation of EBITDA and Adjusted EBITDA to net loss, the most directly comparable financial measure presented in accordance with U.S. GAAP:
(a) Represents new store marketing allowance of $1,000 for each store added to our distribution network, as well as the non-capitalized freight costs associated with Freshpet Fridge replacements. The expense enhances the overall marketing spend to support our growing distribution network.
(b) Represents additional operating costs incurred in connection with the start-up of our new manufacturing lines as part of the Freshpet Kitchens expansion project in 2016 that included adding two additional product lines.
(c) Represents the change of fair value for the outstanding common stock warrants. All outstanding warrants were converted to common stock in September 2017.
(d) Represents fees associated with secondary public offerings of our common stock
(e) Represents charges associated with our former Chief Executive Officer’s separation agreement as well as changes in estimates associated with leadership transition costs.
(f) Represents fees associated with two securities lawsuits
Table:
 | Twelve Months Ended December 31, |  |  |  | 
 | 2019 | 2018 | 2017 | 2016 | 2015
 | (Dollars in thousands) |  |  |  | 
Net loss | $(1,383) | $(5,361) | $(4,262) | $(3,161) | $(3,711)
Depreciation and amortization | 15,921 | 14,068 | 12,692 | 9,887 | 7,574
Interest expense | 991 | 296 | 910 | 698 | 455
Income tax expense | 144 | 77 | 75 | 66 | 58
EBITDA | $15,673 | $9,080 | $9,414 | $7,490 | $4,376
Loss on disposal of equipment | 787 | 142 | 104 | 190 | 94
Non-cash share-based compensation | 7,834 | 6,808 | 4,438 | 4,193 | 3,924
Launch expense (a) | 4,563 | 3,540 | 3,066 | 2,813 | 2,626
Plant start-up expenses (b) | — | — | — | 1,628 | —
Warrant fair valuation (c) | — | — | 335 | 49 | (503)
Secondary offering expenses (d) | 302 | 362 | — | — | 593
Leadership transition expenses (e) | — | — | 63 | 1,291 | —
Litigation expense (f) | — | 348 | 145 | — | —
Adjusted EBITDA | $29,159 | $20,280 | $17,565 | $17,654 | $11,110
Adjusted EBITDA as a % of Net Sales | 11.9% | 10.5% | 11.5% | 13.6% | 9.8%


Question: What was the EBITDA for each of the financial years ends listed shown in the table (in chronological order) respectively?
Answer: $4,376, $7,490, $9,414, $9,080, $15,673
COHERENT, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (In thousands)
(1) Reclassification adjustments were not significant during fiscal 2019, 2018 and 2017.
(2) Tax benefits of $(5,161), $0 and $(326) were provided on translation adjustments during fiscal 2019, 2018 and 2017, respectively.
(3) Tax benefits of $0, $(2) and $(1,876) were provided on changes in unrealized losses on available-for-sale securities during fiscal 2019, 2018 and 2017, respectively.
(4) Tax expenses (benefits) of $(2,371), $202 and $1,747 were provided on changes in defined benefit pension plans during fiscal 2019, 2018 and 2017, respectively.
Table:
 |  | Year Ended | 
 | September 28,2019 | September 29,2018 | September 30,2017
Net income | $53,825 | $247,358 | $207,122
Other comprehensive income (loss):(1) |  |  | 
Translation adjustment, net of taxes(2) | (32,609) | (18,065) | 24,923
Changes in unrealized losses on available-for-sale securities, net of taxes(3) | — | (4) | (3,330)
Defined benefit pension plans, net of taxes(4) | (6,560) | 996 | 3,613
Other comprehensive income (loss), net of tax | (39,169) | (17,073) | 25,206
Comprehensive income | $14,656 | $230,285 | $232,328


Question: What was Net income in 2019?
Answer: $53,825
2019 vs 2018
Cost of revenue decreased for the year ended December 31, 2019, compared to the prior year, primarily due to net revenue declining.
Gross margin decreased for the year ended December 31, 2019 compared to the prior year. Gross margin was negatively impacted by the imposition of Section 301 tariffs originally announced in late 2018 and cost inefficiencies experienced in our new manufacturing locations outside of China, an increase in channel promotional activities relative to revenue as well as foreign exchange headwinds due to the strengthening of the U.S. dollar.
2018 vs 2017
Cost of revenue decreased for the year ended December 31, 2018 primarily due to improved product margin performance, lower proportionate provisions for warranty expense, and lower air freight costs compared to the prior year.
Gross margin increased for the year ended December 31, 2018 compared to the prior year primarily due to improved product margin performance, lower proportionate provisions for sales returns and warranty expense, favorable foreign exchange rate movements and lower air freight costs compared to the prior year.
For fiscal 2020, we expect gross margins to improve from fiscal 2019 primarily as our U.S. bound inventory will primarily not be subject to Section 301 tariffs in fiscal 2020. Forecasting gross margin percentages is difficult, and there are a number of risks related to our ability to maintain or improve our current gross margin levels. Our cost of revenue as a percentage of net revenue can vary significantly based upon factors such as: uncertainties surrounding revenue levels, including future pricing and/or potential discounts as a result of the economy or in response to the strengthening of the U.S. dollar in our international markets, and related production level variances; import customs duties and imposed tariffs; competition; changes in technology; changes in product mix; variability of stockbased compensation costs; royalties to third parties; fluctuations in freight and repair costs; manufacturing and purchase price variances; changes in prices on commodity components; warranty costs; and the timing of sales, particularly to service provider customers. We expect that revenue derived from paid subscription service plans will increase in the future, which may have a positive impact on our gross margin. From time to time, however, we may experience fluctuations in our gross margin as a result of the factors discussed above.
Table:
 |  |  | Year Ended December 31 |  | 
 | 2019 | % Change | 2018 | % Change | 2017
 |  |  | (In thousands, except percentage data) |  | 
Cost of revenue | $704,535 | (1.8)% | $717,118 | (2.0)% | $731,453
Gross margin percentage | 29.5% |  | 32.3% |  | 29.6%


Question: What was the percentage change in cost of revenue from 2017 to 2019?
Answer: -3.68
Calculation: (704,535-731,453)/731,453
Operating Segment Results
Currently, we have three reportable segments—Activision, Blizzard, and King. Our operating segments are consistent with the manner in which our operations are reviewed and managed by our Chief Executive Officer, who is our chief operating decision maker (“CODM”). The CODM reviews segment performance exclusive of: the impact of the change in deferred revenues and related cost of revenues with respect to certain of our online-enabled games; share-based compensation expense; amortization of intangible assets as a result of purchase price accounting; fees and other expenses (including legal fees, expenses, and accruals) related to acquisitions, associated integration activities, and financings; certain restructuring and related costs; and certain other non-cash charges. The CODM does not review any information regarding total assets on an operating segment basis, and accordingly, no disclosure is made with respect thereto.
Our operating segments are also consistent with our internal organizational structure, the way we assess operating performance and allocate resources, and the availability of separate financial information. We do not aggregate operating segments.
Information on the reportable segment net revenues and segment operating income are presented below (amounts in millions):
(1) Intersegment revenues reflect licensing and service fees charged between segments.
Table:
 |  |  |  | For the Year Ended December 31, 2018
 | Activision | Blizzard | King | Total
Segment Revenues |  |  |  | 
Net revenues from external customers | $2,458 | $2,238 | $2,086 | $6,782
Intersegment net revenues (1) | — | 53 | — | 53
Segment net revenues | $2,458 | $2,291 | $2,086 | $6,835
Segment operating income | $1,011 | $685 | $750 | $2,446


Question: What is the Net revenues from external customers from Activision?
Answer: $2,458
4. Acquisitions and Divestitures
(a) Acquisition Summary
We completed five acquisitions during fiscal 2019. A summary of the allocation of the total purchase consideration is presented as follows (in millions):
On September 28, 2018, we completed our acquisition of privately held Duo Security, Inc. (“Duo”), a leading provider of unified access security and multi-factor authentication delivered through the cloud. Revenue from the Duo acquisition has been included in our Security product category.
On February 6, 2019, we completed our acquisition of Luxtera, Inc. (“Luxtera”), a privately held semiconductor company. Revenue from the Luxtera acquisition has been included in our Infrastructure Platforms product category.
The total purchase consideration related to our acquisitions completed during fiscal 2019 consisted of cash consideration and vested share-based awards assumed. The total cash and cash equivalents acquired from these acquisitions was approximately $100 million.
Table:
Fiscal 2019 | Purchase Consideration | Net Tangible Assets Acquired (Liabilities Assumed) | Purchased Intangible Assets | Goodwill
Duo | $2,025 | $(57) | $342 | $1,740
Luxtera | 596 | (19) | 319 | 296
Others (three in total) | 65 | 2 | 11 | 52
Total | $2,686 | $(74) | $672 | $2,088


Question: What did the total purchase consideration related to our acquisitions completed during fiscal 2019 consist of?
Answer: cash consideration and vested share-based awards assumed
25. Loans and other borrowings continued
Loans and other borrowings are analysed as follows:
a Includes collateral received on swaps of £638m (2017/18: £525m, 2016/17: £702m).
The carrying values disclosed in the above table reflect balances at amortised cost adjusted for accrued interest and fair value adjustments to the relevant loans or borrowings. These do not reflect the final principal repayments that will arise after taking account of the relevant derivatives in hedging relationships which are reflected in the table below. Apart from finance leases, all borrowings as at 31 March 2019, 2018 and 2017 were unsecured.
Table:
 | 2019 | 2018 | 2017
At 31 March | £m | £m | £m
Current liabilities |  |  | 
Listed bonds | 1,367 | 1,702 | 1,539
Finance leases | 16 | 18 | 15
Bank loans | – | – | 352
Other loans and bank overdrafts a | 717 | 561 | 726
Total current liabilities | 2,100 | 2,281 | 2,632
Non-current liabilities |  |  | 
Listed bonds | 14,586 | 11,789 | 9,866
Finance leases | 190 | 205 | 214
Other loans | – | – | 1
Total non-current liabilities | 14,776 | 11,994 | 10,081
Total | 16,876 | 14,275 | 12,713


Question: What was the amount of listed bonds in 2019, 2018 and 2017 respectively?
Answer: 1,367, 1,702, 1,539
Note 17. Other Accrued Expenses and Current Liabilities
Other accrued expenses and current liabilities consisted of the following (in thousands):
Table:
 | December 31, | 
 | 2019 | 2018
Accrued purchases | $4,328 | $1,679
Accrued legal and professional fees | 3,860 | 3,380
Accrued customer-acquisition advertising costs (Note 1) | 3,745 | 2,831
Deferred Symphony acquisition purchase price (Note 4) | 3,517 | 3,394
Accrued roadside assistance claim costs | 1,709 | 1,330
Accrued telephone charges | 1,605 | 2,000
Financial derivatives (Note 12) | 251 | 2,859
Accrued restructuring (Note 5) | 56 | 976
Accrued rent (Note 3) | — | 3,283
Other | 10,259 | 9,503
 | $29,330 | $31,235


Question: What was the amount of Accrued legal and professional fees  in 2018?
Answer: 3,380
We make contributions to our defined benefit plans as required under various pension funding regulations. We expect to make contributions of approximately
$1,420 to the international plans in fiscal 2020 based on current actuarial computations
Estimated future benefit payments are as follows:
Savings plans:
We sponsor retirement savings plans, which allow eligible employees to defer part of their annual compensation. Certain contributions by us are discretionary and
are determined by our Board of Directors each year. Our contributions to the savings plans in the United States for the fiscal years ended March 31, 2017, 2018 and 2019
were approximately $4,367, $4,421, and $4,913, respectively.
We also sponsor a nonqualified deferred compensation program, which permits certain employees to annually elect to defer a portion of their compensation until
retirement. A portion of the deferral is subject to a matching contribution by us. The employees select among various investment alternatives, which are the same as are
available under the retirement savings plans, with the investments held in a separate trust. The value of the participants’ balances fluctuate based on the performance of
the investments. The market value of the trust at March 31, 2018 and 2019 of $6,649 and $4,693, respectively, is included as an asset and a liability in our accompanying
balance sheet because the trust’s assets are both assets of the Company and a liability as they are available to general creditors in certain circumstances
Table:
Fiscal Year ended March 31, | US Plans | International Plans
2020 | $2,295 | $7,055
2021 | 2,333 | 7,197
2022 | 2,353 | 7,337
2023 | 2,371 | 7,624
2024 | 2,388 | 7,624
2025-2029 | 11,880 | 40,364


Question: What is the percentage change in the estimated future benefit payments between 2020 and 2021 for the international plans?
Answer: 2.01
Calculation: (7,197 - 7,055)/7,055