hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
The following is a reconciliation of the federal statutory income tax rate to the effective income tax rates reflected in the Consolidated Statements of Comprehensive Income for fiscal 2019, 2018 and 2017:
The effective tax rate for fiscal 2019 was lower than the effective tax rate for fiscal 2018 primarily due to the impact of the U.S. Tax Cuts and Jobs Act (“Tax Reform”) that was recorded in fiscal 2018. During fiscal 2019, the Company reasserted that certain historical undistributed earnings of two foreign subsidiaries will be permanently reinvested which provided a $10.5 million benefit to the effective tax rate. The impact of the changes in the Company's assertion has been included in "Withholding tax on dividends" in the effective income tax reconciliation above. The reduction to the effective tax rate compared to fiscal 2018 was offset by an increase due to the GILTI provisions of Tax Reform in fiscal 2019. The GILTI impact in the table above includes the deduction allowed by the regulations as well as the foreign tax credits attributed to GILTI. The Company has elected to treat the income tax effects of GILTI as a period cost. The effective tax rate for fiscal 2018 was higher than the effective tax rate for fiscal 2017 primarily due to expenses related to Tax Reform.
During fiscal 2019, the Company recorded a $1.9 million increase to its valuation allowance due to continuing losses in certain jurisdictions within the AMER and EMEA segments, partially offset by an expiration of net operating losses that had a valuation allowance recorded.
During fiscal 2018, the Company recorded a $32.9 million reduction to its valuation allowance which includes $9.7 million related to the U.S. federal tax rate change as part of Tax Reform from 35% to 21%, $21.0 million of carryforward credits and net operating losses utilized against the deemed repatriation of undistributed foreign earnings and $3.6 million for the release of the U.S. valuation allowance due to the expected future U.S. taxable income related to the GILTI provisions of Tax Reform. These benefits were partially offset by a $1.4 million increase in foreign valuation allowances in the EMEA segment.
During fiscal 2017, the Company recorded a $14.9 million addition to its valuation allowance relating to continuing losses in certain jurisdictions within the AMER and EMEA segments.
Table:
 | 2019 | 2018 | 2017
Federal statutory income tax rate | 21.0 % | 24.5 %  | 35.0 %
Increase (decrease) resulting from:       |  |  | 
Foreign tax rate differences | (21.0) | (30.2) | (39.9)
Withholding tax on dividends  | (5.4) | 23.7 | —
Permanent differences  | (1.3) | 0.8 | 3.0
Excess tax benefits related to share-based compensation  | (1.3) | (2.7) | (2.0)
Global intangible low-taxed income ("GILTI")  | 11.7 | — | —
Deemed repatriation tax  | 5.6 | 92.2 | —
Non-deductible compensation | 1.5 | 0.2 | 0.2
Valuation allowances  | 1.5 | (30.6) | 12.2
Rate changes  | — | 9.0 | —
Other, net  | 1.5 | 1.0 | (0.5)
Effective income tax rate | 13.8 %  | 87.9 %  | 8.0 %


Question: Which years did the increase resulting from Non-deductible compensation exceed 1%?
Answer: 2019
Calculation: (2019:1.5)
Performance
Free Cash Flow was £54.9m in FY19 compared to £92.4m in FY18, the decrease primarily reflecting the impact of US cash flows. This represents a conversion rate of 36% of Adjusted EBITDA (FY18: 45%). Excluding the US cash flows, Free Cash Flow Conversion increased to 47% from 33% in FY18, driven by improved EBITDA, lower working capital outflows, lower interest costs and lower exceptional cashflows.
Several other factors had a specific impact on cash flow during FY19. These included the effects of the disposal of the US business and associated capital restructuring, as well as the timing of dividend payments.
Net Debt decreased to £288.5m from £501.1m at the end of FY18. The Group’s Net Debt:EBITDA leverage as measured under financing agreements was 1.8x at year end. This compared to 1.9x at the end of March 2019 and 2.3x at the end of September 2018. This outturn includes the increased debt associated with the Freshtime acquisition completed in early September 2019. As at 27 September 2019, the Group had committed facilities of £506m with a weighted average maturity of 4.0 years.
ROIC was 14.4% for the 12 months ended 27 September 2019, compared to 15.6% for the 12 months ended 28 September 2018. The reduction was primarily driven by increased investment, in particular the timing of the acquisition of Freshtime and was so impacted by an increased tax rate.
Table:
 | FY19 £m | FY18 £m | Change (As reported)
Free Cash Flow | 54.9 | 92.4 | -£37.5m
Net Debt | 288.5 | 501.1 | 
Net Debt:EBITDA as per financing agreements | 1.8x | 2.3x | 
ROIC | 14.4% | 15.6% | -120bps


Question: What was the Net Debt in FY18? 
Answer: £288.5m
(B.2) Employee Benefits Expenses
Components of Employee Benefits Expenses
Table:
€ millions | 2019 | 2018 | 2017
Salaries | 10,031 | 9,025 | 8,693
Social security expenses | 1,477 | 1,339 | 1,281
Share-based payment expenses | 1,835 | 830 | 1,120
Pension expenses | 369 | 330 | 312
Employee-related restructuring expenses | 1,111 | 19 | 180
Termination benefits outside of restructuring plans | 47 | 52 | 57
Employee benefits expenses | 14,870 | 11,595 | 11,643


Question: What are the components considered under employee benefit expenses in the table?
Answer: Salaries, Social security expenses, Share-based payment expenses, Pension expenses, Employee-related restructuring expenses, Termination benefits outside of restructuring plans
NOTE 9. GOODWILL AND INTANGIBLES
A summary of goodwill activity follows (in thousands).
Table:
Year Ended December 31 |  | 
 | 2019 | 2018
Goodwill, beginning of period | $       3,178 | $           -
Golden Ridge acquisition | - | 3,178
MGI acquistion | 737 | -
Goodwill, end of period | $3,915 | $3,178


Question: What are the respective goodwill at the end of the period in 2018 and 2019?
Answer: $3,178, $3,915
stock performance graph the following line-graph presentation compares our cumulative shareholder returns with the standard & poor 2019s information technology index and the standard & poor 2019s 500 stock index for the past five years . the line graph assumes the investment of $ 100 in our common stock , the standard & poor 2019s information technology index , and the standard & poor 2019s 500 stock index on may 31 , 2003 and assumes reinvestment of all dividends . comparison of 5 year cumulative total return* among global payments inc. , the s&p 500 index and the s&p information technology index 5/03 5/04 5/05 5/06 5/07 5/08 global payments inc . s&p 500 s&p information technology * $ 100 invested on 5/31/03 in stock or index-including reinvestment of dividends . fiscal year ending may 31 . global payments s&p 500 information technology .

Table:
 | global payments | s&p 500 | s&p information technology
may 31 2003 | $ 100.00 | $ 100.00 | $ 100.00
may 31 2004 | 137.75 | 118.33 | 121.98
may 31 2005 | 205.20 | 128.07 | 123.08
may 31 2006 | 276.37 | 139.14 | 123.99
may 31 2007 | 238.04 | 170.85 | 152.54
may 31 2008 | 281.27 | 159.41 | 156.43
issuer purchases of equity securities in fiscal 2007 , our board of directors approved a share repurchase program that authorized the purchase of up to $ 100 million of global payments 2019 stock in the open market or as otherwise may be determined by us , subject to market conditions , business opportunities , and other factors .
under this authorization , we have repurchased 2.3 million shares of our common stock .
this authorization has no expiration date and may be suspended or terminated at any time .
repurchased shares will be retired but will be available for future issuance. .

Question: in a slight recession of the overall market , what percentage did the stock price of global payments change?
Answer: 18.2% increase
Calculation: subtract(281.27, 238.04)
(5) Earnings Per Share
Basic earnings per share is computed by dividing Net earnings attributable to Black Knight by the weighted-average number of shares of common stock outstanding during the period.
For the periods presented, potentially dilutive securities include unvested restricted stock awards and the shares of BKFS Class B common stock prior to the Distribution. For the year ended December 31, 2017, the numerator in the diluted net earnings per share calculation is adjusted to reflect our income tax expense at an expected effective tax rate assuming the conversion of the shares of BKFS Class B common stock into shares of BKFS Class A common stock on a one-for-one basis prior to the Distribution. The effective tax rate for the year ended December 31, 2017 was (16.7)%, including the effect of the benefit related to the revaluation of our net deferred income tax liability and certain other discrete items recorded during 2017. For the year ended December 31, 2017, the denominator includes approximately 63.1 million shares of BKFS Class B common stock outstanding prior to the Distribution. The denominator also includes the dilutive effect of approximately 0.9 million, 0.6 million and 0.6 million shares of unvested restricted shares of common stock for the years ended December 31, 2019, 2018 and 2017, respectively.
The shares of BKFS Class B common stock did not share in the earnings or losses of Black Knight and were, therefore, not participating securities. Accordingly, basic and diluted net earnings per share of BKFS Class B common stock have not been presented.
The computation of basic and diluted earnings per share is as follows (in millions, except per share amounts):
Table:
 |  | Year ended December 31, | 
 | 2019 | 2018 | 2017
Basic: |  |  | 
Net earnings attributable to Black Knight | $108.8 | $168.5 | $182.3
Shares used for basic net earnings per share: |  |  | 
Weighted average shares of common stock outstanding | 147.7 | 147.6 | 88.7
Basic net earnings per share | $0.74 | $1.14 | $2.06
Diluted: |  |  | 
Earnings before income taxes and equity in losses of unconsolidated affiliates |  |  | $192.4
Income tax benefit excluding the effect of noncontrolling interests |  |  | (32.2)
Net earnings |  |  | $224.6
Net earnings attributable to Black Knight | $108.8 | $168.5 | 
Shares used for diluted net earnings per share: |  |  | 
Weighted average shares of common stock outstanding | 147.7 | 147.6 | 88.7
Dilutive effect of unvested restricted shares of common |  |  | 
stock | 0.9 | 0.6 | 0.6
Weighted average shares of BKFS Class B common stock outstanding | — | — | 63.1
Weighted average shares of common stock, diluted | 148.6 | 148.2 | 152.4
Diluted net earnings per share | $0.73 | $1.14 | $1.47


Question: What was the percentage change in Diluted net earnings per share between 2018 and 2019?
Answer: -35.96
Calculation: (0.73-1.14)/1.14
14. SHAREHOLDERS’ EQUITY
Authorized, issued and outstanding common shares roll-forward is as follows:
In December 2017, the Company completed an underwritten public offering of 40,000,000 common shares which increased its equity by $103.7 million.
In December 2018, the Annual General Meeting of the Company approved to increase the Company’s authorized share capital from $1.8 million to $3.6 million.
During 2019, the Company has issued 5,260,968 shares through the ATM program and raised net proceeds of $17.9 million.
Table:
 | Authorized
Shares | Issued and Out-
standing Shares | Common Stock
Balance as of January 1, 2017   | 180,000,000 | 101,969,666 | 1,020
Common Shares Issued in Follow-on Offering | - | 40,000,000 | 400
Balance as of December 31, 2017   | 180,000,000 | 141,969,666 | 1,420
Authorization of additional authorized shares   | 180,000,000 | - | -
Balance as of December 31, 2018   | 360,000,000 | 141,969,666 | 1,420
At-the-Market Offering   | - | 5,260,968 | 52
Balance as of December 31, 2019   | 360,000,000 | 147,230,634 | 1,472


Question: How many shares did the company issue in 2019 through the ATM program?
Answer: 5,260,968 shares
Billings
Billings represent the value of products and services invoiced to customers after receiving a purchase order from the customer and delivering products and services to them, or for which there is no right to a refund. Billings do not equate to statutory revenue.
Table:
 | Year-ended 31 March 2019 | Year-ended 31 March 2018 Restated See note 2
 | $M | $M
Revenue | 710.6 | 639.0
Net deferral of revenue (see note 23) | 49.7 | 129.6
Billings | 760.3 | 768.6
Currency revaluation | 25.9 | 18.7
Constant currency billings | 786.2 | 787.3


Question: What do Billings represent?
Answer: the value of products and services invoiced to customers after receiving a purchase order from the customer and delivering products and services to them, or for which there is no right to a refund. Billings do not equate to statutory revenue.
Standard & Poor's Rating Services', a Standard & Poor's Financial Services LLC business ("S&P"), corporate credit rating is "BBB." Moody’s Investor Service, Inc.'s ("Moody's") applicable rating is "Baa2." Fitch Ratings', a wholly owned subsidiary of Fimlac, S.A. ("Fitch"), applicable rating is "BBB." The below table outlines the fees paid on the unused portion of the facility ("Facility Fee Rate") and letter of credit fees and borrowings ("Undrawn Letter of Credit Fee and Borrowing Spread") that corresponds to the applicable rating levels from S&P, Moody's and Fitch.
In the event the rating levels are split, the applicable fees and spread will be based upon the rating level in effect for two of the rating agencies, or, if all three rating agencies have different rating levels, the applicable fees and spread will be based upon the rating level that is between the rating levels of the other two rating agencies.
Table:
Ratings Level (S&P/Moody's/Fitch) | Facility Fee Rate | All-in Borrowing Spread
A-/A3/A- or above | 0.090% | 1.000%
BBB+/Baa1/BBB+ | 0.100% | 1.125%
BBB/Baa2/BBB (current level) | 0.125% | 1.250%
BBB-/Baa3/BBB- | 0.175% | 1.375%
BB+/Ba1/BB+ or lower | 0.225% | 1.625%


Question: What happens when all three rating agencies have different rating levels?
Answer: the applicable fees and spread will be based upon the rating level that is between the rating levels of the other two rating agencies.
Billings
Group reported billings decreased by $8.3 million or 1.1 per cent to $760.3 million in the year-ended 31 March 2019. This represented a 0.1 per cent decrease on a constant currency (“CC”) basis.
Billings by region
Americas Billings attributable to the Americas decreased by $2.2 million to $267.8 million in the period, representing a 0.8 per cent reduction on a reported basis and 0.7 per cent on a constant currency basis; this decrease largely driven by a decline in Enduser products due to the stronger performance in the prior-year compare as a consequence of the impact of the WannaCry ransomware outbreak and the launch of Intercept X, the Group’s next-gen endpoint product, partially offset by an improved performance in UTM sales.
EMEA Billings attributable to EMEA increased by $0.2 million to $395.3 million in the period, representing 0.1 per cent growth on a reported basis and 0.9 per cent growth on a constant currency basis. An increase in sales of Server products being partially offset by a reduction in endpoint and email products.
APJ Billings attributable to APJ decreased by $6.3 million to $97.2 million in the period, representing 6.1 per cent on a reported basis and 2.8 per cent on a constant currency basis. As in the Americas, growth was negatively impacted by the stronger performance in the prior-year compare compounded by a legacy Network product transition in the first-half of the year partially offset by an improvement in sales of Server products.
Table:
 | FY19 | FY18 | Growth % | Growth %
 | $m (Reported) | $m (Reported) | (Reported) | (CC)
Billings by Region: |  |  |  | 
- Americas | 267.8 | 270.0 | (0.8) | (0.7)
- EMEA | 395.3 | 395.1 | 0.1 | 0.9
- APJ | 97.2 | 103.5 | (6.1) | (2.8)
 | 760.3 | 768.6 | (1.1) | (0.1)
Billings by Product: |  |  |  | 
– Network | 345.9 | 353.4 | (2.1) | (1.1)
– Enduser | 377.1 | 383.2 | (1.6) | (0.7)
– Other | 37.3 | 32.0 | 16.6 | 17.1
 | 760.3 | 768.6 | (1.1) | (0.1)
Billings by Type: |  |  |  | 
– Subscription | 644.6 | 644.2 | 0.1 | 1.0
– Hardware | 105.7 | 113.7 | (7.0) | (6.1)
– Other | 10.0 | 10.7 | (6.5) | (4.6)
 | 760.3 | 768.6 | (1.1) | (0.1)


Question: In which year was the amount of Billings larger?
Answer: FY18
Calculation: 768.6>760.3
Pre-tax income from international operations was $214 million, $890 million, and $353 million for fiscal 2019, 2018, and 2017, respectively.
The components of income tax expense (benefit) recorded in continuing operations are as follows:
As of December 28, 2018, we have completed our accounting for the effects of the enactment of the Tax Cuts and Jobs Act (H.R.1) (the 2017 Tax Act) in accordance with U.S. Securities and Exchange Commission (SEC) Staff Accounting Bulletin No. 118, and the amounts are no longer considered provisional. We will continue to evaluate any new guidance from the U.S. Department of Treasury and the Internal Revenue Service (IRS) as issued.
Table:
 |  | Year Ended | 
(In millions) | March 29, 2019 | March 30, 2018 | March 31, 2017
Current: |  |  | 
Federal | $73 | $1,011 | $108
State | 15 | 40 | 6
International | 74 | 107 | 68
Total | 162 | 1,158 | 182
Deferred: |  |  | 
Federal | (52) | (1,664) | (177)
State | (2) | (151) | (17)
International | (16) | (33) | (14)
Total | (70) | (1,848) | (208)
Income tax expense (benefit) | $92 | $(690) | $(26)


Question: What is the Pre-tax income from international operations for fiscal 2019?
Answer: $214 million
Item 2. PROPERTIES
We operate 31 distributions centers located in the United States and Canada totaling approximately 1.7 million square feet. We own a 59,500 square foot distribution center in Cincinnati, Ohio and a 10,000 square foot protein processing facility and distribution center in Chicago, Illinois. All of our other properties are leased. The following table sets forth our distribution, protein processing, corporate and other support facilities by state or province and their approximate aggregate square footage as of February 21, 2020 (1).
(1)  Excludes the impact of our recent acquisitions of Sid Wainer & Son and Cambridge Packing Co, Inc. more fully described in 'Management's Discussion and Financial Condition and Results of Operations — Overview and Recent Developments."
(2)  Represents our corporate headquarters in Ridgefield, Connecticut.
We consider our properties to be in good condition generally and believe our facilities are adequate for our operations and provide sufficient capacity to meet our anticipated requirements.
Table:
State / Province | Number of Facilities | Aggregate Size
California | 10 | 618,900
New York | 1 | 231,100
Texas | 3 | 214,300
Illinois | 3 | 144,200
Ohio | 2 | 120,400
Maryland | 3 | 115,300
Nevada | 1 | 74,000
Oregon | 1 | 55,500
Ontario | 1 | 51,300
Florida | 2 | 48,300
New Jersey | 1 | 38,400
Connecticut(2) | 1 | 29,200
British Columbia | 1 | 24,900
Alberta | 2 | 16,500
Arizona | 1 | 14,500
Washington | 1 | 10,500
Total | 34 | 1,807,300


Question: What is the number of facilities in Ohio and Maryland respectively?
Answer: 2, 3
entergy louisiana , llc and subsidiaries management 2019s financial discussion and analysis plan to spin off the utility 2019s transmission business see the 201cplan to spin off the utility 2019s transmission business 201d section of entergy corporation and subsidiaries management 2019s financial discussion and analysis for a discussion of this matter , including the planned retirement of debt and preferred securities . results of operations net income 2011 compared to 2010 net income increased $ 242.5 million primarily due to a settlement with the irs related to the mark-to-market income tax treatment of power purchase contracts , which resulted in a $ 422 million income tax benefit . the net income effect was partially offset by a $ 199 million regulatory charge , which reduced net revenue , because a portion of the benefit will be shared with customers . see note 3 to the financial statements for additional discussion of the settlement and benefit sharing . 2010 compared to 2009 net income decreased slightly by $ 1.4 million primarily due to higher other operation and maintenance expenses , a higher effective income tax rate , and higher interest expense , almost entirely offset by higher net revenue . net revenue 2011 compared to 2010 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges ( credits ) . following is an analysis of the change in net revenue comparing 2011 to 2010 . amount ( in millions ) .

Table:
 | amount ( in millions )
2010 net revenue | $ 1043.7
mark-to-market tax settlement sharing | -195.9 ( 195.9 )
retail electric price | 32.5
volume/weather | 11.6
other | -5.7 ( 5.7 )
2011 net revenue | $ 886.2
the mark-to-market tax settlement sharing variance results from a regulatory charge because a portion of the benefits of a settlement with the irs related to the mark-to-market income tax treatment of power purchase contracts will be shared with customers , slightly offset by the amortization of a portion of that charge beginning in october 2011 .
see notes 3 and 8 to the financial statements for additional discussion of the settlement and benefit sharing .
the retail electric price variance is primarily due to a formula rate plan increase effective may 2011 .
see note 2 to the financial statements for discussion of the formula rate plan increase. .

Question: what was the percent of the change in the net revenue from 2010 to 2011
Answer: 15.1%
Calculation: subtract(886.2, 1043.7), divide(#0, 1043.7)
9. Pensions continued
Defined benefit plans continued
iii) Amount, timing and uncertainty of future cash flows continued
The liability has the following duration and maturity:
Table:
 | 2019 | 2018
Weighted average duration of the defined benefit obligation (years) | 14 | 15
Maturity analysis of benefit payments (non-discounted amounts) $ million |  | 
Maturity ≤ 1 year | 10.8 | 10.4
Maturity > 1 ≤ 5 years | 45.6 | 43.2
Maturity > 5 ≤ 10 years | 61.7 | 119.0
Maturity > 10 ≤ 20 years | 114.3 | 103.0
Maturity > 20 ≤ 30 years | 81.7 | 68.0
Maturity > 30 years | 63.0 | 42.9


Question: What was the Weighted average duration of the defined benefit obligation (years) in 2019?
Answer: 14
Contractual Obligations
The following table summarizes contractual obligations and commitments, as of April 27, 2019:
(1) Assumes the outstanding borrowings under the revolving credit facility will be repaid upon maturity of the credit agreement in September 2023.
(2) Amounts represent estimated contractual interest payments on outstanding debt. Interest rates in effect as of April 27, 2019 are used for floating-rate debt.
We enter into agreements with suppliers to assist us in meeting our customers' production needs. These agreements vary as to duration and quantity commitments. Historically, most have been short-term agreements, which do not provide for minimum purchases, or are requirements-based contracts.
Table:
 |  |  | Payments Due By Period |  | 
(Dollars in Millions) | Total | Less than 1 year | 1-3 years | 3-5 years | More than 5 years
Capital Leases | $1.7 | $0.6 | $0.9 | $0.2 | $—
Operating Leases | 34.2 | 7.8 | 10.5 | 7.5 | 8.4
Debt (1) | 295.5 | 15.7 | 28.8 | 247.7 | 3.3
Estimated Interest on Debt (2) | 46.8 | 11.7 | 20.7 | 14.2 | 0.2
Deferred Compensation | 8.5 | 1.2 | 3.2 | 1.6 | 2.5
Total | $386.7 | $37.0 | $64.1 | $271.2 | $14.4


Question: What was the total operating leases?
Answer: 34.2
AMERICAN TOWER CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Tabular amounts in millions, unless otherwise disclosed)
The domestic and foreign components of income from continuing operations before income taxes are as follows:
Table:
 |  | Year Ended December 31, | 
 | 2019 | 2018 | 2017
United States | $1,527.0 | $1,212.7 | $971.2
Foreign | 389.4 | (58.1) | 284.9
Total | $1,916.4 | $1,154.6 | $1,256.1


Question: How many years did total income from continuing operations before income taxes exceed $1,000 million?
Answer: 3
Calculation: 2019##2018##2017