hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
9. Debt
Silicon Valley Bank Facility
We maintained a Loan and Security Agreement with SVB (the "Credit Facility") under which we had a term loan with an original borrowing amount of $6.0 million (the “Original Term Loan”). The Original Term Loan carried a floating annual interest rate equal to SVB’s prime rate then in effect plus 2%. The Original Term Loan matured and was repaid in May 2019.
On October 10, 2019, we entered into an Amended and Restated Loan and Security Agreement (the “Loan Agreement”) with SVB, which amended and restated in its entirety our previous Credit Facility. Under the Loan Agreement, SVB agreed to make advances available up to $10.0 million (the “Revolving Line”). If we borrow from the Revolving Line, such borrowing would carry a floating annual interest rate equal to the greater of (i) the Prime Rate (as defined in the Loan Agreement) then in effect plus 1% or (ii) 6%. Amounts borrowed under the Revolving Line may be repaid and, prior to the Revolving Line Maturity Date (defined below), reborrowed. The Revolving Line terminates on October 10, 2020 (the “Revolving Line Maturity Date”), unless earlier terminated by us. No amounts have been borrowed under this Loan Agreement.
Amounts due under the Loan Agreement are secured by our assets, including all personal property, inventory and bank accounts; however, intellectual property is not secured under the Loan Agreement. The inventory used to secure the amount due does not include demo or loaner equipment with an aggregate book value up to $1.0 million. The Loan Agreement requires us to observe a number of financial and operational covenants, including maintenance of a specified Liquidity Coverage Ratio (as defined in the Loan Agreement), protection and registration of intellectual property rights and customary negative covenants. If any event of default occurs SVB may declare due immediately all borrowings under the Credit Facility and foreclose on the collateral. Furthermore, an event of default under the Credit Facility would result in an increase in the interest rate on any amounts outstanding. As of December 31, 2019, there were no events of default on the Credit Facility.
Interest expense, net for the years ended December 31, 2019 and 2018 consisted of the following:
Table:
 | Years ended December 31, | 
 | 2019 | 2018
Interest expense on Term Loans | $8,073 | $101,087
Amortization of debt issuance costs | 5,685 | 16,308
Other interest expense  | 2,120 | 6,949
Total interest expense, net | $15,878 | $124,344


Question: What was the Amortization of debt issuance costs in 2019 and 2018 respectively?
Answer: 5,685, 16,308
Note 26. Other Income (Expense)
Other income (expense), net consisted of the following (in thousands):
Table:
 |  | Years Ended December 31, | 
 | 2019 | 2018 | 2017
Foreign currency transaction gains(losses) | $(1,262) | $2,029 | $(548)
Gains (losses) on derivative instruments not designated as hedges | (674) | (1,751) | 143
Net investment gains (losses) on investments held in rabbi trust | 2,379 | (867) | 1,619
Other miscellaneous income (expense) | (857) | (1,659) | 44
 | $(414) | $(2,248) | $1,258


Question: What was the Net investment gains (losses) on investments held in rabbi trust in 2017?
Answer: 1,619
(18) Quarterly Financial Data (Unaudited)
During the first quarter of 2019, we recorded a non-cash, non-tax-deductible goodwill impairment charge of $6.5 billion for goodwill, see Note 4—Goodwill, Customer Relationships and Other Intangible Assets for further details.
During the fourth quarter of 2018, we recorded a non-cash, non-tax-deductible goodwill impairment charge of $2.7 billion for goodwill see Note 4—Goodwill, Customer Relationships and Other Intangible Assets for further details.
During the first quarter of 2018, we recognized $71 million of expenses related to our acquisition of Level 3 followed by acquisition-related expenses of $162 million, $43 million and $117 million in the second, third and fourth quarters of 2018, respectively. During 2019, we recognized expenses related to our acquisition of Level 3 of $34 million, $39 million, $38 million and $123 million in the first, second, third and fourth quarters of 2019, respectively.
Table:
 | First Quarter | Second Quarter | Third Quarter | Fourth Quarter | Total
 |  |  | (Dollars in millions, except per share amounts) |  | 
2019 |  |  |  |  | 
Operating revenue | $5,647 | 5,578 | 5,606 | 5,570 | 22,401
Operating (loss) income | (5,499) | 976 | 950 | 847 | (2,726)
Net (loss) income | (6,165) | 371 | 302 | 223 | (5,269)
Basic (loss) earnings per common share | (5.77) | 0.35 | 0.28 | 0.21 | (4.92)
Diluted (loss) earnings per common share | (5.77) | 0.35 | 0.28 | 0.21 | (4.92)
2018 |  |  |  |  | 
Operating revenue | $5,945 | 5,902 | 5,818 | 5,778 | 23,443
Operating income (loss) | 750 | 767 | 894 | (1,841) | 570
Net income (loss) | 115 | 292 | 272 | (2,412) | (1,733)
Basic earnings (loss) per common share | 0.11 | 0.27 | 0.25 | (2.26) | (1.63)
Diluted earnings (loss) per common share | 0.11 | 0.27 | 0.25 | (2.26) | (1.63)


Question: What is the total amount of expenses related to the acquisition of Level 3 recorded in 2019?
Answer: 234
Calculation: 34+39+38+123
Results of Operations
Historically, revenues and earnings may or may not be representative of future operating results due to various economic and other factors. The following table sets forth the Consolidated Statements of Operations for the periods indicated (amounts in thousands):
(1) Fiscal years ended March 31, 2018 and 2017 adjusted due to the adoption of ASC 606.
Table:
 |  | Fiscal Years Ended March 31, | 
 | 2019 | 2018 | 2017
Net sales (1) | $1,382,818 | $1,200,181 | $757,338
Operating costs and expenses: |  |  | 
Cost of sales (1) | 924,276 | 860,744 | 571,944
Selling, general and administrative expenses | 202,642 | 173,620 | 107,658
Research and development (1) | 44,612 | 39,114 | 26,693
Restructuring charges | 8,779 | 14,843 | 5,404
(Gain) loss on write down and disposal of long-lived assets | 1,660 | (992) | 10,671
Total operating costs and expenses | 1,181,969 | 1,087,329 | 722,370
Operating income (1) | 200,849 | 112,852 | 34,968
Non-operating (income) expense: |  |  | 
Interest income | (2,035) | (809) | (24)
Interest expense | 21,239 | 32,882 | 39,755
Acquisition (gain) loss | — | (130,880) | —
Change in value of TOKIN options | — | — | (10,700)
Other (income) expense, net (1) | 11,214 | 24,592 | (3,871)
Income before income taxes and equity income (loss) from equity method investments (1) | 170,431 | 187,067 | 9,808
Income tax expense (benefit) (1) | (39,460) | 9,132 | 4,294
Income before equity income (loss) from equity method investments (1) | 209,891 | 177,935 | 5,514
Equity income (loss) from equity method investments | (3,304) | 76,192 | 41,643
Net income (1) | $206,587 | $254,127 | $47,157


Question: Why were calculations for Fiscal years ended March 31, 2018 and 2017 adjusted?
Answer: due to the adoption of ASC 606.
OPERATING COSTS AND ADJUSTED EBITDA
Bell Wireline operating costs were essentially stable year over year, decreasing by 0.1% in 2019, compared to 2018, resulting from: • The favourable impact from the adoption of IFRS 16 in 2019 • Continued effective cost containment • Lower pension expenses reflecting reduced DB costs
These factors were partly offset by: • Higher cost of goods sold related to the growth in product sales • Increased costs from the acquisition of Axia • Greater payments to other carriers from increased sales of international wholesale long distance minutes
Bell Wireline adjusted EBITDA grew by 1.7% in 2019, compared to last year, reflecting the growth in revenues as operating expenses were relatively stable year over year. Adjusted EBITDA margin increased to 43.8% in 2019, compared to the 43.4% achieved last year, resulting from the favourable impact of the adoption of IFRS 16 in 2019 and the flow-through of the service revenue growth, offset in part by higher low-margin product sales in our total revenue base.
Table:
 | 2019 | 2018 | $ CHANGE | % CHANGE
Operating costs | (6,942) | (6,946) | 4 | 0.1%
Adjusted EBITDA | 5,414 | 5,321 | 93 | 1.7%
Adjusted EBITDA margin | 43.8% | 43.4% |  | 0.4 pts


Question: What is the sum of the adjusted EBITDA in 2018 and 2019?
Answer: 10735
Calculation: 5,414+5,321
9. Derivative Financial Instruments
As a global company, we are exposed in the normal course of business to interest rate and foreign currency risks that could affect our financial position, results of operations, and cash flows. We use derivative instruments to hedge against these risks and only hold such instruments for hedging purposes, not for speculative or trading purposes.
Depending on the terms of the specific derivative instruments and market conditions, some of our derivative instruments may be assets and others liabilities at any particular balance sheet date. We report all of our derivative instruments at fair value and account for changes in the fair value of derivative instruments within “Accumulated other comprehensive loss” if the derivative instruments qualify for hedge accounting. For those derivative instruments that do not qualify for hedge accounting (i.e., “economic hedges”), we record the changes in fair value directly to earnings. See Note 11. “Fair Value Measurements” to our consolidated financial statements for information about the techniques we use to measure the fair value of our derivative instruments.
The following tables present the fair values of derivative instruments included in our consolidated balance sheets as of December 31, 2019 and 2018 (in thousands):
Table:
 |  | December 31, 2019 |  | 
 | Prepaid Expenses and Other Current Assets | Other Assets | Other Current Liabilities | Other Liabilities
Derivatives designated as hedging instruments:    |  |  |  | 
Foreign exchange forward contracts | $226 | $139 | $369 | $230
Total derivatives designated as hedging instruments | $226 | $139 | $369 | $230
Derivatives not designated as hedging instruments: |  |  |  | 
Foreign exchange forward contracts | $973 | $— | $1,807 | $—
Interest rate swap contracts . | — | — | 406 | 7,209
Total derivatives not designated as hedging instruments . | $973 | $— | $2,213 | $7,209
Total derivative instruments . | $1,199 | $139 | $2,582 | $7,439


Question: How are changes in fair value of hedging instruments accounted for?
Answer: within “Accumulated other comprehensive loss”
Note 16. Share-Based Compensation
Share-Based Compensation Expense
The following table presents the details of the Company's share-based compensation expense (in millions):
(1) During the year ended March 31, 2019, $17.2 million of share-based compensation expense was capitalized to inventory, and $14.9 million of previously capitalized share-based compensation expense in inventory was sold. During the year ended March 31, 2018, $11.9 million of share-based compensation expense was capitalized to inventory and $13.8 million of previously capitalized share-based compensation expense in inventory that was sold. During the year ended March 31, 2017, $11.3 million of share-based compensation expense was capitalized to inventory. The amount of sharebased compensation included in cost of sales during fiscal 2017 included $14.5 million of previously capitalized sharebased compensation expense in inventory was sold and $4.2 million of share-based compensation expense related to the Company's acquisition of Atmel that was not previously capitalized into inventory.
The amount of unearned share-based compensation currently estimated to be expensed in the remainder of fiscal 2020 through fiscal 2024 related to unvested share-based payment awards at March 31, 2019 is $253.4 million. The weighted average period over which the unearned share-based compensation is expected to be recognized is approximately 1.88 years.
Table:
 |  | Year Ended March 31, | 
 | 2019 | 2018 | 2017
Cost of sales (1) | $14.9 | $13.8 | $18.7
Research and development | 72.0 | 42.5 | 46.8
Selling, general and administrative | 62.3 | 36.9 | 62.6
Special (income) charges and other, net | 17.2 | — | —
Pre-tax effect of share-based compensation | 166.4 | 93.2 | 128.1
Income tax benefit | 35.5 | 28.3 | 44.2
Net income effect of share-based compensation | $130.9 | $64.9 | $83.9


Question: What was the cost of sales in 2017?
Answer: 18.7
stock performance graph the following graph compares our cumulative shareholder returns with the standard & poor 2019s information technology index and the standard & poor 2019s 500 index for the year ended december 31 , 2017 , the 2016 fiscal transition period , and the years ended may 31 , 2016 , 2015 , 2014 and 2013 . the line graph assumes the investment of $ 100 in our common stock , the standard & poor 2019s 500 index and the standard & poor 2019s information technology index on may 31 , 2012 and assumes reinvestment of all dividends . 5/12 5/165/155/145/13 global payments inc . s&p 500 s&p information technology 12/16 12/17 comparison of 5 year cumulative total return* among global payments inc. , the s&p 500 index and the s&p information technology index * $ 100 invested on may 31 , 2012 in stock or index , including reinvestment of dividends . copyright a9 2018 standard & poor 2019s , a division of s&p global . all rights reserved . global payments 500 index information technology .

Table:
 | globalpayments | s&p500 index | s&pinformationtechnology index
may 31 2012 | $ 100.00 | $ 100.00 | $ 100.00
may 31 2013 | 113.10 | 127.28 | 115.12
may 31 2014 | 161.90 | 153.30 | 142.63
may 31 2015 | 246.72 | 171.40 | 169.46
may 31 2016 | 367.50 | 174.34 | 174.75
december 31 2016 | 328.42 | 188.47 | 194.08
december 31 2017 | 474.52 | 229.61 | 269.45
30 2013 global payments inc .
| 2017 form 10-k annual report .

Question: what is the total return if 1000000 is invested in global payments in may 31 , 2012 and liquidated in may 31 , 2015?
Answer: 1467200
Calculation: subtract(246.72, const_1000), divide(1000000, 100), subtract(#1, #0)
ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (United States Dollars in thousands, except per share data and unless otherwise indicated)
Cash flows
We prepare our Consolidated Statements of Cash Flows using the indirect method, under which we reconcile net income to cash flows provided by operating activities by adjusting net income for those items that impact net income, but may not result in actual cash receipts or payments during the period. The following table provides a summary of our operating, investing and financing cash flows for the periods indicated.
Table:
 |  | Year Ended December 31, | 
 | 2019 | 2018 | 2017
Net cash provided by operating activities | $153,327 | $256,426 | $160,394
Net cash used in investing activities | $(15,381) | $(6,581) | $(4,135)
Net cash used in financing activities | $(150,604) | $(145,184) | $(30,535)


Question: What was the percentage change in the Net cash used in financing activities between 2018 and 2019?
Answer: 3.73
Calculation: (-150,604-(-145,184))/-145,184
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 percentage change in nonvested shares at expected attainment between 2018 and 2019?
Answer: 23.82
Calculation: (669,469-540,697)/540,697
During the year ended December 31, 2019, the Company completed a reorganization of certain of its foreign subsidiaries that resulted in the derecognition of the related deferred tax assets for net operating losses which were subject to a valuation allowance. As a result, the Company reduced both its net operating loss deferred tax assets and valuation allowance by approximately $19.7 million.
The Company accrued $2.7 million as of both December 31, 2019 and 2018, excluding penalties and interest, for the liability for unrecognized tax benefits, which was included in “Long-term income tax liabilities” in the accompanying Consolidated Balance Sheets. Had the Company recognized these tax benefits, approximately $2.7 million, along with the related interest and penalties, would have favorably impacted the effective tax rate in both 2019 and 2018. The Company does not anticipate that any of the unrecognized tax benefits will be recognized in the next twelve months.
The Company recognizes interest and penalties related to unrecognized tax benefits in the provision for income taxes. The Company had $1.1 million and $0.6 million accrued for interest and penalties as of December 31, 2019 and 2018, respectively. Of the accrued interest and penalties at December 31, 2019 and 2018, $0.6 million and $0.4 million, respectively, relate to statutory penalties. The amount of interest and penalties, net, included in the provision for income taxes in the accompanying Consolidated Statements of Operations for the years ended December 31, 2019, 2018 and 2017 was $0.4 million, $0.7 million and $(9.5) million, respectively.
The tabular reconciliation of the amounts of unrecognized net tax benefits is presented below (in thousands):
Table:
 |  | Years Ended December 31, | 
 | 2019 | 2018 | 2017
Balance at the beginning of the period | $2,720 | $1,342 | $8,531
Current period tax position increases | — | 2,950 | —
Decreases from settlements with tax authorities | — | (191) | (10,865)
Decreases due to lapse in applicable statute of limitations | — | (1,310) | (466)
Foreign currency translation increases (decreases) | (9) | (71) | 4,142
Balance at the end of the period | $2,711 | $2,720 | $1,342


Question: What was the Balance at the beginning of the period in 2018?
Answer: $1,342
The fair value of each option grant was estimated on the date of grant using the Black-Scholes option pricing model using the following weighted average assumptions:
Based on the Black-Scholes option pricing model, the weighted average estimated fair value of employee stock options granted was $4.63 and $2.58 per share during the years ended December 31, 2019 and 2018, respectively.
The expected life was determined using the simplified method outlined in ASC 718, “Compensation - Stock Compensation”. Expected volatility of the stock options was based upon historical data and other relevant factors. We have not provided an estimate for forfeitures because we have had nominal forfeited options and RSUs and believed that all outstanding options and RSUs at December 31, 2019, would vest.
Table:
 | Year Ended | Year Ended
 | December 31, 2019 | December 31, 2018
Expected stock price volatility | 92.34% | 85.26%
Risk-free interest rate | 2.09% | 2.73%
Expected life term | 6.14 years | 6.02 years
Expected dividends | 0% | 0%


Question: How was the fair value of each option grant estimated?
Answer: Using the Black-Scholes option pricing model
7. INVESTMENTS IN JOINT VENTURES
The total carrying value of our equity method investments at the end of fiscal 2019 and 2018 was $796.3 million and $776.2 million, respectively. These amounts are included in other assets and reflect our 44% ownership interest in Ardent Mills and 50% ownership interests in other joint ventures. Due to differences in fiscal reporting periods, we recognized the equity method investment earnings on a lag of approximately one month.
In fiscal 2019, we had purchases from our equity method investees of $39.4 million. Total dividends received from equity method investments in fiscal 2019 were $55.0 million.
In fiscal 2018, we had purchases from our equity method investees of $34.9 million. Total dividends received from equity method investments in fiscal 2018 were $62.5 million.
In fiscal 2017, we had purchases from our equity method investees of $41.8 million. Total dividends received from equity method investments in fiscal 2017 were $68.2 million.
Notes to Consolidated Financial Statements - (Continued) Fiscal Years Ended May 26, 2019, May 27, 2018, and May 28, 2017 (columnar dollars in millions except per share amounts) Summarized combined financial information for our equity method investments on a 100% basis is as follows:
Table:
 | 2019 | 2018 | 2017
Net Sales: |  |  | 
Ardent Mills . | $3,476.0 | $3,344.1 | $3,180.0
Others | 195.4 | 198.8 | 177.7
Total net sales . | $3,671.4 | $3,542.9 | $3,357.7
Gross margin: |  |  | 
Ardent Mills . | $281.9 | $386.5 | $340.3
Others | 45.5 | 34.8 | 34.6
Total gross margin | $327.4 | $421.3 | $374.9
Earnings after income taxes: |  |  | 
Ardent Mills . | $151.9 | $197.0 | $152.0
Others | 18.1 | 10.1 | 10.1
Total earnings after income taxes | $170.0 | $207.1 | $162.1


Question: How much dividends that the company received from equity method investments in fiscal 2017, 2018, and 2019, respectively?
Answer: $68.2 million, $62.5 million, $55.0 million
stockholder return performance graph the following graph compares the cumulative 5-year total stockholder return on our common stock relative to the cumulative total return of the nasdaq composite index and the s&p 400 information technology index . the graph assumes that the value of the investment in our common stock and in each index on december 31 , 2011 ( including reinvestment of dividends ) was $ 100 and tracks it each year thereafter on the last day of our fiscal year through december 31 , 2016 and , for each index , on the last day of the calendar year . comparison of 5 year cumulative total return* among cadence design systems , inc. , the nasdaq composite index , and s&p 400 information technology cadence design systems , inc . nasdaq composite s&p 400 information technology 12/31/1612/28/13 1/2/1612/31/11 1/3/1512/29/12 *$ 100 invested on 12/31/11 in stock or index , including reinvestment of dividends . indexes calculated on month-end basis . copyright a9 2017 standard & poor 2019s , a division of s&p global . all rights reserved. .

Table:
 | 12/31/2011 | 12/29/2012 | 12/28/2013 | 1/3/2015 | 1/2/2016 | 12/31/2016
cadence design systems inc . | 100.00 | 129.23 | 133.94 | 181.06 | 200.10 | 242.50
nasdaq composite | 100.00 | 116.41 | 165.47 | 188.69 | 200.32 | 216.54
s&p 400 information technology | 100.00 | 118.41 | 165.38 | 170.50 | 178.74 | 219.65
the stock price performance included in this graph is not necessarily indicative of future stock price performance. .

Question: what is the rate of return of an investment in cadence design systems from the end of the year in 2015 to the end of the year in 2016?
Answer: 10.5%
Calculation: subtract(200.10, 181.06), divide(#0, 181.06)