hellotayssir/FinQA_TAT-QA_financial_finetuning_dataset huggingface dataset:
Note 23. Defined Benefit Pension Plan and Postretirement Benefits
Defined Benefit Pension Plans
The Company sponsors non-contributory defined benefit pension plans (the “Pension Plans”) for its covered employees in the Philippines. The Pension Plans provide defined benefits based on years of service and final salary. All permanent employees meeting the minimum service requirement are eligible to participate in the Pension Plans. As of December 31, 2019, the Pension Plans were unfunded. The Company expects to make no cash contributions to its Pension Plans during 2020.
The following table provides a reconciliation of the change in the benefit obligation for the Pension Plans and the net amount recognized, included in “Other long-term liabilities,” in the accompanying Consolidated Balance Sheets (in thousands):
Table:
 | December 31, | 
 | 2019 | 2018
Balance at the beginning of the period | $3,282 | $3,642
Service cost | 405 | 448
Interest cost | 254 | 196
Actuarial (gains) losses | (108) | (783)
Benefits paid | (22) | (32)
Effect of foreign currency translation | 122 | (189)
Balance at the end of the period | $3,933 | $3,282
Unfunded status | (3,933) | (3,282)
Net amount recognized | $(3,933) | $(3,282)


Question: What was the  Interest cost  in 2018?
Answer: 196
NOTE F – STOCKHOLDERS’ EQUITY (CONTINUED)
A summary of restricted stock units granted during the year ended December 31, 2019 is as follows (each restricted stock unit represents the contingent right to receive one share of the Company’s common stock):
Restricted stock unit compensation expense was $567,000 for the year ended December 31, 2019 and $687,000 for the year ended December 31, 2018.
The Company has an aggregate of $232,000 of unrecognized restricted stock unit compensation expense as of December 31, 2019 to be expensed over a weighted average period of 1.2 years.
Table:
 | Number of Shares | Weighted-Average Grant Date Fair Value
Balance of restricted stock units outstanding at December 31, 2018 | 505,000 | $2.17
Grants of restricted stock units | 70,000 | 2.45
Vested restricted stock units | (235,000) | (2.29)
Balance of unvested restricted stock units at December 31, 2019 | 340,000 | 2.15


Question: What is the difference in weighted-average grant date fair value for grants of restricted stock units and vested restricted stock units?
Answer: 4.74
Calculation: 2.45 - (-2.29)
repurchase of equity securities the following table provides information regarding our purchases of our equity securities during the period from october 1 , 2012 to december 31 , 2012 . total number of shares ( or units ) purchased 1 average price paid per share ( or unit ) 2 total number of shares ( or units ) purchased as part of publicly announced plans or programs 3 maximum number ( or approximate dollar value ) of shares ( or units ) that may yet be purchased under the plans or programs 3 .

Table:
 | total number ofshares ( or units ) purchased1 | average price paidper share ( or unit ) 2 | total number ofshares ( or units ) purchased as part ofpublicly announcedplans or programs3 | maximum number ( or approximate dollar value ) of shares ( or units ) that mayyet be purchased under theplans or programs3
october 1 - 31 | 13566 | $ 10.26 | 0 | $ 148858924
november 1 - 30 | 5345171 | $ 9.98 | 5343752 | $ 195551133
december 1 - 31 | 8797959 | $ 10.87 | 8790000 | $ 99989339
total | 14156696 | $ 10.53 | 14133752 | 
1 includes shares of our common stock , par value $ 0.10 per share , withheld under the terms of grants under employee stock-based compensation plans to offset tax withholding obligations that occurred upon vesting and release of restricted shares ( the 201cwithheld shares 201d ) .
we repurchased 13566 withheld shares in october 2012 , 1419 withheld shares in november 2012 and 7959 withheld shares in december 2012 , for a total of 22944 withheld shares during the three-month period .
2 the average price per share for each of the months in the fiscal quarter and for the three-month period was calculated by dividing the sum of the applicable period of the aggregate value of the tax withholding obligations and the aggregate amount we paid for shares acquired under our stock repurchase program , described in note 5 to the consolidated financial statements , by the sum of the number of withheld shares and the number of shares acquired in our stock repurchase program .
3 on february 24 , 2012 , we announced in a press release that our board had approved a share repurchase program to repurchase from time to time up to $ 300.0 million of our common stock ( the 201c2012 share repurchase program 201d ) , in addition to amounts available on existing authorizations .
on november 20 , 2012 , we announced in a press release that our board had authorized an increase in our 2012 share repurchase program to $ 400.0 million of our common stock .
on february 22 , 2013 , we announced that our board had approved a new share repurchase program to repurchase from time to time up to $ 300.0 million of our common stock .
the new authorization is in addition to any amounts remaining available for repurchase under the 2012 share repurchase program .
there is no expiration date associated with the share repurchase programs. .

Question: what was the percentage of the total number of shares ( or units ) purchased in december
Answer: 62.1%
Calculation: divide(8797959, 14156696)
Free cash flow
Our non-GAAP financial measures also include free cash flow, which we define as cash provided by (used in) operating activities less the amount of property and equipment purchased. Management believes that information regarding free cash flow provides investors with an important perspective on the cash available to invest in our business and fund ongoing operations.

However, our calculation of free cash flow may not be comparable to similar measures used by other companies.
We believe these non-GAAP financial measures are helpful in understanding our past financial performance and our future results. Our non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP.

Our management regularly uses our supplemental non-GAAP financial measures internally to understand, manage and evaluate our business, and make operating decisions. These non-GAAP measures are among the primary factors management uses in planning for and forecasting future periods. Compensation of our executives is based in part on the performance of our business based on certain of these non-GAAP measures.
We monitor the following non-GAAP financial measures:
Table:
 | For the year ended December 31, |  | 
(in thousands, except percentages and per share data) | 2019 | 2018 | 2017
Non-GAAP gross profit | $168,242 | $163,376 | $153,849
Non-GAAP gross margin | 82.0% | 84.6% | 85.6%
Non-GAAP operating loss | $(8,689) | $(4,325) | $(16,440)
Non-GAAP operating margin | (4.2)% | (2.2)% | (9.1)%
Non-GAAP net loss | $(9,460) | $(4,548) | $(16,594)
Non-GAAP net loss per share | $(0.09) | $(0.04) | $(0.18)
Free cash flow | $(3,924) | $12,201 | $(3,418)


Question: How does management use non-GAAP measures?
Answer: planning for and forecasting future periods, understand, manage and evaluate our business, and make operating decisions
Other loss
In May 2019, the Company completed a cash tender offer and purchased $460.9 million in aggregate principal amount of the 2020 Notes and issued $250.0 million in aggregate principal amount of 9.25% senior secured notes at par due November 2022. The Company recognized a loss of $10.6 million on the purchase of the 2020 Notes for the year ended December 31, 2019 (see Note 9).
During September 2019, Teekay LNG refinanced the Torben Spirit by acquiring the Torben Spirit from its original Lessor and then selling the vessel to another Lessor and leasing it back for a period of 7.5 years. As a result of this refinancing transaction, the Partnership recognized a loss of $1.4 million for the year ended December 31, 2019 on the extinguishment of the original finance lease (see Note 11).
Following the termination of the finance lease arrangements for the RasGas II LNG Carriers in 2014, the lessor made a determination that additional rentals were due under the leases following a challenge by the UK taxing authority. As a result, in 2017 the Teekay Nakilat Joint Venture recognized an additional liability, which was included as part of other loss in the Company's consolidated statements of loss.
Related to settlements and accruals made prior to September 2017 as a result of claims and potential claims made against Logitel Offshore Holding AS (or Logitel), a company acquired by Altera in 2014. Altera was deconsolidated in September 2017 (see Note 4).
Table:
 | Year Ended | Year Ended | Year Ended
 | December 31, | December 31, | December 31,
 | 2019 | 2018 | 2017
 | $ | $ | $
Loss on bond repurchases (1) | (10,601) | (1,772) | —
Loss on lease extinguishment (2) | (1,417) | — | —
Tax indemnification guarantee liability (3) | — | (600) | (50,000)
Contingent liability (4) | — | — | (4,500)
Gain on sale / (write-down) of cost-accounted investment | — | — | 1,250
Miscellaneous (loss) income | (2,457) | 359 | (731)
Other loss | (14,475) | (2,013) | (53,981)


Question: What was the loss recognized by the company in December 2019?
Answer: $10.6 million
Note 16: Quarterly Results of Operations (Unaudited)
The following table sets forth certain quarterly information for fiscal years 2019 and 2018. This information, in the opinion of the Company’s management, reflects all adjustments (consisting only of normal recurring adjustments) necessary to present fairly this information when read in conjunction with the Consolidated Financial Statements and notes thereto included elsewhere herein (amounts in thousands except per share data):
(1) Operating income (loss) as a percentage of net sales fluctuates from quarter to quarter due to a number of factors, including net sales fluctuations, foreign currency exchange, restructuring charges, product mix, the timing and expense of moving product lines to lower-cost locations, the write-down of long lived assets, the net gain/loss on sales and disposals of assets and the relative mix of sales among distributors, original equipment manufacturers, and electronic manufacturing service providers.
Table:
Fiscal Year 2019 Quarters Ended |  |  |  | 
 | Jun-30 | Sep-30 | Dec-31 | Mar-31
Net sales | $327,616 | $349,233 | $350,175 | $355,794
Gross margin | 94,821 | 113,565 | 123,750 | 126,406
Operating income (1) | 35,176 | 50,000 | 61,616 | 54,057
Net income | $35,220 | $37,141 | $40,806 | $93,420
Net income per basic share | $0.61 | $0.64 | $0.70 | $1.60
Net income per diluted share | $0.60 | $0.63 | $0.69 | $1.58


Question: What was the percentage change in the net income between the Jun-30 and Sep-30 quarter?
Answer: 5.45
Calculation: (37,141-35,220)/35,220
REVENUES BY SERVICES AND PRODUCTS
The following table presents our revenues disaggregated by type of services and products.
(1) Our service revenues are generally recognized over time.
(2) Our product revenues are generally recognized at a point in time.
Table:
FOR THE YEAR ENDED DECEMBER 31 | 2019 | 2018
Services (1) |  | 
Wireless | 6,427 | 6,269
Wireline data | 7,684 | 7,466
Wireline voice | 3,564 | 3,782
Media | 2,811 | 2,677
Other wireline services | 251 | 247
Total services | 20,737 | 20,441
Products (2) |  | 
Wireless | 2,660 | 2,497
Wireline data | 519 | 466
Wireline equipment and other | 48 | 64
Total products | 3,227 | 3,027
Total operating revenues | 23,964 | 23,468


Question: How many categories are there under services?
Answer: 5
Calculation: Wireless##Wireline data##Wireline voice##Media##Other wireline services
ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS
A. Major Shareholders
The following table sets forth information regarding beneficial ownership of our common shares for (i) owners of more than five percent of our common shares and (ii) our directors and officers, of which we are aware of the date of this annual report.
(1) Based on 147,230,634 common shares outstanding as of the date of this annual report.
(2) The holdings of High Seas AS, which are for the economic interest of members of the Hansson family, as well as the personal holdings of our Chief Executive Officer and Chairman, Mr. Herbjorn Hansson, and our director, Alexander Hansson, are included in the amount reported herein.
* Less than 1% of our common outstanding shares.
As of April 14, 2020, we had 575 holders of record in the United States, including Cede & Co., which is the Depositary Trust Company’s nominee for holding shares on behalf of brokerage firms, as a single holder of record. We had a total of 147,230,634 Common Shares outstanding as of the date of this annual report.
Table:
Title | Identity of Person | No. of Shares | Percent of Class(1)
Common | Hansson family(2) | 4,380,659 | 2.98%
 | Jim Kelly |  | * 
 | Richard Vietor |  | * 
 | David Workman |  | * 
 | Bjørn Giæver |  | * 


Question: What is the total number of shares owned by the Hanssen family and Richard Vietor?
Answer: 4380659
Calculation: (4,380,659 + 0)
ALTERNATIVE PERFORMANCE MEASURES
Gross profit:
TORM defines Gross profit, a performance measure, as revenue less port expenses, bunkers and commissions, charter hire and operating expenses. The Company reports Gross profit because we believe it provides additional meaningful information to investors, as Gross profit measures the net earnings from shipping activities. Gross profit is calculated as follows:
Table:
USDm | 2019 | 2018 | 2017
Reconciliation to revenue |  |  | 
Revenue | 692.6 | 635.4 | 657.0
Port expenses, bunkers and commissions | -267.7 | -283.0 | -259.9
Charter hire | - | -2.5 | -8.5
Operating expenses | -173.0 | -180.4 | -188.4
Gross profit | 251.9 | 169.5 | 200.2


Question: What was the percentage change in gross profit in 2019 from 2018?
Answer: 48.61
Calculation: (251.9-169.5)/169.5
Share-based payments expense for the period was $62,028,117 (2018: $57,710,434).
The variables in the table below are used as inputs into the model to determine the fair value of performance rights.
(1) Grant date represents the offer acceptance date.
(2) The expected volatility is based on the historical implied volatility calculated based on the weighted average remaining life of the performance rights adjusted for any expected changes to future volatility due to publicly available information.
Table:
 | 2019 | 2018
 | F19 LTI | F18 LTI
Grant date (1) | 30 Nov 2018 | 31 Oct 2017
Performance period start date | 1 Jul 2018 | 1 Jul 2017
Exercise date | 1 Jul 2021 | 1 Jul 2020
Expected volatility (2) | 15.0% | 16.0%
Expected dividend yield | 4.0% | 4.0%
Risk-free interest rate | 2.1% | 1.9%
Weighted average fair value at grant date | $24.63 | $20.23


Question: What is the exercise date in 2018?
Answer: 1 Jul 2020
6. Inventories
Inventories at April 30, 2019 and 2018, respectively, consisted of the following (in thousands):
For the year ended April 30, 2018, the Company recorded a non-cash write-down of approximately $5.6 million of inventory. Inventory write-down resulted from two principal factors: (1) adoption by satellite manufacturers of policies precluding the use of parts and components over ten years old. This policy was unanticipated and resulted in reduced likelihood of FEI being able to use inventory that exceeds that threshold, and (2) changing technology associated with the advanced analog-to-digital converters which enables direct synthesis of certain frequencies for which FEI previously provided frequency conversion technology, reducing the likelihood that some parts and components associated with frequency conversion will be usable. Additionally, the Company’s new inventory reserve policy resulted in a charge of $1.1 million in the fiscal year ended April 30, 2019. Inventory reserves included in inventory were $6.6 million and $5.5 million for the fiscal years ended April 30, 2019 and 2018, respectively.
Table:
 | 2019 | 2018
Raw Materials and Component Parts | $11,600 | $ 16,206
Work in Progress | 8,896 | 8,216
Finished Goods | 2,860 | 1,764
 | $23,356 | $ 26,186


Question: What is the average amount of raw materials and component parts in 2018 and 2019?
Answer: 13903
Calculation: (11,600+16,206)/2
Subsequent to the year end, we have received the final ratifications required for full planning to become effective and therefore we expect the positive impact on retained earnings to reverse once these arrangements are formally concluded. In this event EPRA NAV per share would have been 143 pence.
Debt measures
A Debt to asset ratio
Our debt to assets ratio increased to 67.8 per cent in 2019 due to the property revaluation deficit in the year. This reduces to 65.3 per cent when adjusted for expected disposal proceeds from intu Puerto Venecia and intu Asturias.
B Interest cover
Interest cover of 1.67x remains above our target minimum level of 1.60x although it has reduced in 2019 as a result of the reduction in net rental income.
C Immediately available cash and facilities
Immediately available cash and facilities has reduced in the year by £5.3 million to £241.5 million at 31 December 2019. This excludes the rents collected at the end of December 2019 which relate to the first quarter of 2020 and remain in the debt structures until interest payments are made. At 10 March 2020, immediately available cash and facilities is £200.3 million, which will be augmented by the intu Puerto Venecia sales proceeds expected to be received in early April.
Table:
 | Notes | 2019 | 2018 | Change
Debt to assets ratio | A | 67.8% | 53.1% | 14.7%
Interest cover | B | 1.67x | 1.91x | –0.24x
Weighted average debt maturity |  | 5.0 years | 5.8 years | –0.8 years
Weighted average cost of gross debt (excluding RCF) |  | 4.3% | 4.2% | –0.1%
Proportion of gross debt with interest rate protection |  | 88% | 84% | 4%
Immediately available cash and facilities | C | £241.5m | £246.8m | £(5.3)m


Question: What is the change in the debt to assets ration from 2018 to 2019 when it is adjusted for expected disposal proceeds from intu Puerto Venecia and intu Asturias?
Answer: 12.2
Calculation: 65.3-53.1
Operating Income
Our operating income in fiscal year 2019 increased to $241.4 million, or 10.1 percent of net sales as compared with $189.3 million, or 8.8 percent of net sales in fiscal year 2018. Excluding surcharge revenue and special items, adjusted operating margin was 12.5 percent for the fiscal year 2019 and 10.6 percent for the same period a year ago. The increase in the operating margin reflects steady demand and improved product mix coupled with operating cost improvements offset by higher selling, general and administrative expenses compared to the same period a year ago.
The following presents our operating income and operating margin, in each case excluding the impact of surcharge on net sales and special items. We present and discuss these financial measures because management believes removing the impact of these items provides a more consistent and meaningful basis for comparing results of operations from period to period. See the section “Non-GAAP Financial Measures” below for further discussion of these financial measures.
Table:
 | Fiscal Year | 
($ in millions) | 2019 | 2018
Net sales | $2,380.2 | $2,157.7
Less: surcharge revenue | 438.1 | 365.4
Net sales excluding surcharge revenue | $1,942.1 | $1,792.3
Operating income | $241.4 | $189.3
Special items: |  | 
Acquisition-related costs | 1.2 | —
Adjusted operating income excluding special items | $242.6 | $189.3
Operating margin | 10.1% | 8.8%
Adjusted operating margin excluding surcharge revenue and special items | 12.5% | 10.6%


Question: What was the amount of operating income in 2019?
Answer: $241.4 million
5. Earnings per Common Share
The calculations of basic and diluted earnings per common share for the years ended June 30, 2019, 2018 and 2017 were as follows:
Table:
 |  | Years Ended June 30, | 
(in millions, except per share data) | 2019 | 2018 | 2017
Net income | $167.0 | $188.5 | $47.0
Less: earnings and dividends allocated to participating securities | (1.9) | (1.7) | (0.3)
Earnings available for common shareholders used in calculation of basic earnings per share | $165.1 | $186.8 | $46.7
Weighted average number of common shares outstanding, basic | 47.7 | 47.2 | 47.0
Basic earnings per common share | $3.46 | $3.96 | $0.99
Net income | $167.0 | $188.5 | $47.0
Less: earnings and dividends allocated to participating securities | (1.9) | (1.7) | (0.3)
Earnings available for common shareholders used in calculation of diluted earnings per share | $165.1 | $186.8 | $46.7
Weighted average number of common shares outstanding, basic | 47.7 | 47.2 | 47.0
Effect of shares issuable under share-based compensation plans | 0.4 | 0.4 | 0.1
Weighted average number of common shares outstanding, diluted | 48.1 | 47.6 | 47.1
Diluted earnings per common share | $3.43 | $3.92 | $0.99


Question: What was the Diluted earnings per common share in 2019?
Answer: $3.43
19. Cash and cash equivalents
Cash at bank and in hand is denominated in the following currencies:
Cash balances with an original maturity of less than three months were held in current accounts during the year and attracted interest at a weighted average rate of 0.3% (2018: 0.3%).
Table:
 | 2019 | 2018
 | £m | £m
Sterling | 5.8 | 4.1
Euro | 0.1 | 0.2
Cash at bank and in hand | 5.9 | 4.3


Question: What was the amount of interest attracted by cash balances in 2019?
Answer: weighted average rate of 0.3%
Revenue and costs are generally directly attributed to our segments. However, due to the integrated structure of our business, certain revenue recognized and costs incurred by one segment may benefit other segments. Revenue from certain contracts is allocated among the segments based on the relative value of the underlying products and services, which can include allocation based on actual prices charged, prices when sold separately, or estimated costs plus a profit margin. Cost of revenue is allocated in certain cases based on a relative revenue methodology. Operating expenses that are allocated primarily include those relating to marketing of products and services from which multiple segments benefit and are generally allocated based on relative gross margin.
In addition, certain costs incurred at a corporate level that are identifiable and that benefit our segments are allocated to them. These allocated costs include costs of: legal, including settlements and fines; information technology; human resources; finance; excise taxes; field selling; shared facilities services; and customer service and support. Each allocation is measured differently based on the specific facts and circumstances of the costs being allocated. Certain corporate-level activity is not allocated to our segments, including restructuring expenses.
Segment revenue and operating income were as follows during the periods presented:
Corporate and Other operating loss comprised restructuring expenses.
Table:
(In millions) |  |  | 
Year Ended June 30, | 2019 | 2018 | 2017
Revenue |  |  | 
Productivity and Business Processes | $ 41,160 | $ 35,865 | $ 29,870
Intelligent Cloud | 38,985 | 32,219 | 27,407
More Personal Computing | 45,698 | 42,276 | 39,294
Total | $  125,843 | $   110,360 | $   96,571
Operating Income (Loss) |  |  | 
Productivity and Business Processes | $ 16,219 | $ 12,924 | $ 11,389
Intelligent Cloud | 13,920 | 11,524 | 9,127
More Personal Computing | 12,820 | 10,610 | 8,815
Corporate and Other | 0 | 0 | (306)
Total | $ 42,959 | $ 35,058 | $ 29,025


Question: How many of the 3 years from 2017 to 2019 had operating income of less than $14,000 million for productivity and business processes?
Answer: 2
Calculation: 12,924##11,389