next-tat/TAT-QA huggingface dataset:
Fiscal 2019
Fiscal 2018
Amount
Percentage of total net sales
Amount
Percentage of total net sales
OEM Laser Sources (OLS)
$886,676
62.0%
$1,259,477
66.2%
Industrial Lasers & Systems (ILS)
543,964
38.0%
643,096
33.8%
Total
$1,430,640
100.0%
$1,902,573
100.0%

text: Segments
text: We are organized into two reportable operating segments: OLS and ILS. While both segments deliver cost-effective, highly reliable photonics solutions, OLS is focused on high performance laser sources and complex optical sub-systems, typically used in microelectronics manufacturing, medical diagnostics and therapeutic applications, as well as in scientific research. ILS delivers high performance laser sources, sub-systems and tools primarily used for industrial laser materials processing, serving important end markets like automotive, machine tool, consumer goods and medical device manufacturing.
text: The following table sets forth, for the periods indicated, the amount of net sales and their relative percentages of total net sales by segment (dollars in thousands):
text: Net sales for fiscal 2019 decreased $471.9 million, or 25%, compared to fiscal 2018, with decreases of $372.8 million, or 30%, in our OLS segment and decreases of $99.1 million, or 15%, in our ILS segment. The fiscal 2019 decreases in both OLS and ILS segment sales included decreases due to the unfavorable impact of foreign exchange rates.
text: The decrease in our OLS segment sales in fiscal 2019 was primarily due to weaker demand resulting in lower shipments of ELA tools used in the flat panel display market and lower revenues from consumable service parts.
text: The decrease in our ILS segment sales from fiscal 2018 to fiscal 2019 was primarily due to lower sales for materials processing and microelectronics applications, partially offset by higher sales for medical and military applications within the OEM components and instrumentation market.

Questions:
question: What led to the decrease in the OLS segment in 2019?
answer: primarily due to weaker demand resulting in lower shipments of ELA tools used in the flat panel display market and lower revenues from consumable service parts.
question: What led to the decrease in the ILS segment in 2019?
answer: primarily due to lower sales for materials processing and microelectronics applications, partially offset by higher sales for medical and military applications within the OEM components and instrumentation market.
question: In which years was the operating segment data provided?
answer: 2019
2018
question: In which year was ILS a higher percentage of total net sales?
answer: 2019
derivation: 38.0%>33.8%
question: What was the average amount of net sales for OLS in 2018 and 2019?
answer: 1073076.5
derivation: (886,676+1,259,477)/2
scale: thousand
question: What was the average amount of net sales for ILS in 2018 and 2019?
answer: 593530
derivation: (543,964+643,096)/2
scale: thousand
December 31, 2019
September 30, 2019
June 30, 2019
March 31, 2019
December 31, 2018
ACI On Premise
$1,977
$1,925
$1,880
$1,861
$1,875
ACI On Demand
3,855
3,756
3,813
2,290
2,299
Total
$5,832
$5,681
$5,693
$4,151
$4,174
December 31, 2019
September 30, 2019
June 30, 2019
March 31, 2019
December 31, 2018
Committed
$2,168
$2,003
$2,105
$1,734
$1,832
Renewal
3,664
3,678
3,588
2,417
2,342
Total
$5,832
$5,681
$5,693
$4,151
$4,174

text: The following table sets forth our 60-month backlog estimate, by reportable segment, as of December 31, 2019; September 30, 2019; June 30, 2019; March 31, 2019; and December 31, 2018 (in millions). The 60-month backlog estimate includes approximately $1.5 billion as a result of the acquisition of Speedpay, which occurred on May 9, 2019. Dollar amounts reflect foreign currency exchange rates as of each period end. This is a non-GAAP financial measure being presented to provide comparability across accounting periods. We believe this measure provides useful information to investors and others in understanding and evaluating our financial performance.
text: Estimates of future financial results require substantial judgment and are based on several assumptions, as described above. These assumptions may turn out to be inaccurate or wrong for reasons outside of management’s control. For example, our customers may attempt to renegotiate or terminate their contracts for many reasons, including mergers, changes in their financial condition, or general changes in economic conditions in the customer’s industry or geographic location. We may also experience delays in the development or delivery of products or services specified in customer contracts, which may cause the actual renewal rates and amounts to differ from historical experiences. Changes in foreign currency exchange rates may also impact the amount of revenue recognized in future periods. Accordingly, there can be no assurance that amounts included in backlog estimates will generate the specified revenues or that the actual revenues will be generated within the corresponding 60-month period. Additionally, because certain components of Committed Backlog and all of Renewal Backlog estimates are operating metrics, the estimates are not required to be subject to the same level of internal review or controls as contracted but not recognized Committed Backlog.

Questions:
question: How much was the 60-month backlog estimate as a result of the acquisition of Speedpay?
answer: $1.5 billion
scale: billion
question: What was the committed backlog in December 31, 2019?
answer: $2,168
scale: million
question: What was the committed backlog in June 30, 2019?
answer: $2,105
scale: million
question: What was the difference in committed backlog between December 31 and September 30, 2019?
answer: 165
derivation: ($2,168-$2,003)
scale: million
question: What was the difference in Renewal backlog between June 30 and March 31, 2019?
answer: 1171
derivation: 3,588-2,417
scale: million
question: What was the percentage change in ACI on premise between December 31 and September 30, 2019?
answer: 2.7
derivation: ($1,977-$1,925)/$1,925
scale: percent
Year-ended 31 March 2019
Year-ended 31 March 2018
Number
WASP
Number
WASP
Performance share units
000’s
£ pence
000’s
£ pence
Outstanding at the start of the year
7,546
269.65
6,024
219.41
Awarded
1,721
506.74
1,719
440.50
Forfeited
(2,234)
414.51
(197)
223.96
Released
(2,949)
262.64
–
–
Outstanding at the end of the year
4,084
295.41
7,546
269.65

text: Performance Share Units
text: The following table illustrates the number and WASP on date of award, and movements in, performance share units (“PSUs”) granted under the 2015 LTIP:
text: PSUs vest on one vesting date following a three year vesting period which will comprise three financial years. The awards are divided into three equal parts which will each be subject to a separate annual performance condition linked to the financial performance of the Group.

Questions:
question: What is the  Outstanding at the start of the year  for 2019?
answer: 7,546
scale: thousand
question: Why are the PSU awards divided into three equal parts?
answer: The awards are divided into three equal parts which will each be subject to a separate annual performance condition linked to the financial performance of the Group.
question: What are the types of movements in performance share units (“PSUs”) illustrated in the table?
answer: Awarded
Forfeited
Released
question: In which year was the number of PSUs awarded larger?
answer: 2019
derivation: 1,721>1,719
question: What was the change in the number of PSUs outstanding at the end of the year in 2019 from 2018?
answer: -3462
derivation: 4,084-7,546
scale: thousand
question: What was the percentage change in the number of PSUs outstanding at the end of the year in 2019 from 2018?
answer: -45.88
derivation: (4,084-7,546)/7,546
scale: percent
Year Ended March 31, 
2019
2018
2017
(In thousands)
Unrecognized tax benefits, beginning of period
$2,735
$2,714
$2,055
Additions based on tax positions related to current year
371
520
730
Additions based on tax positions related to prior years
13
—
—
2017 Tax Act and tax rate re-measurement  
—
(499)
—
Reductions based on tax positions related to prior years  
(17)
—
—
Lapses during the current year applicable to statutes of limitations  
—
—
(71)
Unrecognized tax benefits, end of period
$3,102
$2,735
$2,714

text: The long-term portion of the Company’s unrecognized tax benefits at March 31, 2019 and 2018 was $622,000 and $619,000, respectively, of which the timing of the resolution is uncertain. As of March 31, 2019 and 2018, $2.5 million and $2.1 million, respectively, of unrecognized tax benefits had been recorded as a reduction to net deferred tax assets.
text: As of March 31, 2019, the Company’s net deferred tax assets of $6.7 million are subject to a valuation allowance of $6.7 million. It is possible, however, that some months or years may elapse before an uncertain position for which the Company has established a reserve is resolved. A reconciliation of unrecognized tax benefits is as follows:
text: The unrecognized tax benefit balance as of March 31, 2019 of $599,000 would affect the Company’s effective tax rate if recognized.

Questions:
question: What was the long term portion of the unrecognized tax benefits in 2019 and 2018 respectively?
answer: $622,000
$619,000
question: What was the net deferred tax assets in 2019?
answer: $6.7 million
question: What was the Unrecognized tax benefits, beginning of period in 2019?
answer: $2,735
scale: thousand
question: In which year was Additions based on tax positions related to current year less than 600 thousands?
answer: 2019
2018
derivation: locate and analyze Additions based on tax positions related to current year in row 5
question: What is the average Additions based on tax positions related to prior years between 2017-2019?
answer: 4.33
derivation: (13 + 0 + 0) / 3
scale: thousand
question: What was the change in the Unrecognized tax benefits, end of period from 2018 to 2019?
answer: 367
derivation: 3,102 - 2,735
scale: thousand
($ in millions)
At December 31, 2019:
Americas
EMEA
Asia Pacific
Total
Recorded investment:
Lease receivables
$ 3,419
$1,186
$  963
$ 5,567
Loan receivables
6,726
3,901
2,395
13,022
Ending balance
$10,144
$5,087
$3,359
$18,590
Recorded investment, collectively evaluated for impairment
$10,032
$5,040
$3,326
$18,399
Recorded investment, individually evaluated for impairment
$   112
$   47
$   32
$   191
Allowance for credit losses
Beginning balance at January 1, 2019
Lease receivables
$    53
$   22
$   24
$     99
Loan receivables
105
43
32
179
Total
$   158
$   65
$   56
$   279
Write-offs
(42)
(3)
(18)
(63)
Recoveries
1
0
1
2
Provision
5
(7)
(3)
(5)
Other*
(1)
0
(1)
(2)
Ending balance at December 31, 2019
$   120
$   54
$   36
$   210
Lease receivables
$    33
$   23
$   16
$    72
Loan receivables
$    88
$   31
$   20
$   138
Related allowance, collectively evaluated for impairment
$    25
$   11
$    4
$    39
Related allowance, individually evaluated for impairment
$    96
$   43
$   32
$   171

text: The following tables present the recorded investment by portfolio segment and by class, excluding commercial financing receivables and other miscellaneous financing receivables at December 31, 2019 and 2018. Commercial financing receivables are excluded from the presentation of financing receivables by portfolio segment, as they are short term in nature and the current estimated risk of loss and resulting impact to the company’s financing results are not material.
text: Write-offs of lease receivables and loan receivables were $16 million and $47 million, respectively, for the year ended December 31, 2019. Provisions for credit losses recorded for lease receivables and loan receivables were a release of $6 million and an addition of $2 million, respectively, for the year ended December 31, 2019.
text: The average recorded investment of impaired leases and loans for Americas, EMEA and Asia Pacific was $138 million, $49 million and $45 million, respectively, for the year ended December 31, 2019. Both interest income recognized, and interest income recognized on a cash basis on impaired leases and loans were immaterial for the year ended December 31, 2019.

Questions:
question: Why are Commercial financing receivables are excluded from financing receivables?
answer: they are short term in nature and the current estimated risk of loss and resulting impact to the company’s financing results are not material.
question: What were the write-offs in December 2019?
answer: $16 million
question: What is the average recorded investment of impaired leases and loans for Americas for December 2019?
answer: $138 million
question: What is the average Recorded investment of Lease receivables for Americas and EMEA for December 2019?
answer: 2302.5
derivation: (3,419+1,186) / 2 
scale: million
question: What is the average Recorded investment of Loan receivables for Americas and EMEA for December 2019?
answer: 5313.5
derivation: (6,726+3,901) / 2 
scale: million
question: What is the average Allowance for credit losses of Lease receivables at the beginning of January 2019?
answer: 33
derivation: 99/ 3
scale: million
December 31, 2019
December 31, 2018
Accounting
$36,161
$52,365
Research and development
650,584
137,114
Legal
15,273
32,161
Other
163,029
10,048
Total
$865,047
$231,688

text: NOTE 4 - ACCOUNTS PAYABLE AND ACCRUED EXPENSES
text: Accounts payable and accrued expenses consist of the following at:
text: On October 1 2019, the Company entered into an agreement with a consultant for toxicology studies. The consultant quoted a commitment of approximately $988,000 as an
estimate for the study. 50% of the total price is to be paid upon the signing of the agreement, 35% of the total price is to be upon completion of the in-life study, and the
remaining 15% of the total price is to be paid upon the issuance of the report. If the Company cancels the study the Company will be required to pay a cancelation fee. If the
cancelation happens prior to the arrival of the test animals then the Company will need to pay between 20% and 50% of the animal fees depending on when the cancellation
happens. If the cancellation occurs after the animals arrive but before the study begins then the company will be responsible for paying 50% of the protocol price plus a fee of
$7,000 per room/week for animal husbandry until the animals can be relocated or disposed of. If the Company cancels the study after it has begun then the Company will need to pay any fees for procured items for the study and any nonrecoverable expenses incurred by the vendor. As of December 31, 2019, the Company has paid $0 and there is a balance of $493,905 due.

Questions:
question: What is the quoted consultation fees for the toxicology studies?
answer: $988,000
question: What is the company's total accounts payables and accrued expenses as at December 31, 2019?
answer: $865,047
question: What is the company's total accounts payables and accrued expenses as at December 31, 2018?
answer: $231,688
question: How much did the company pay upon the signing of the toxicology studies agreement?
answer: 494000
derivation: 988,000 * 50% 
question: What is the value of accounting related accounts payable as a percentage of the 2019 total accounts payable and accrued expenses?
answer: 4.18
derivation: 36,161/865,047 
scale: percent
question: What is the percentage change in the accounts payable and accrued expenses between 2018 and 2019?
answer: 273.37
derivation: (865,047-231,688)/231,688 
scale: percent
USDm
2019
2018
2017
EBIT less Tax
205.1
1.2
38.8
Impairment reversal
-120.0
-
-
EBIT less tax and impairment
85.1
1.2
38.8
Average invested capital¹⁾
1,627.7
1,437.7
1,396.9
Average impairment ²⁾
98.2
185.0
185.0
Average invested capital less average impairment
1,725.9
1,622.7
1,581.9
Adjusted RoIC
4.9%
0.1%
2.4%

text: Adjusted Return on Invested Capital (Adjusted RoIC): TORM defines Adjusted RoIC as earnings before interest and tax (EBIT) less tax and impairment losses and reversals, divided by the average invested capital less average impairment for the period. Invested capital is defined below.
text: The Adjusted RoIC expresses the returns generated on capital invested in the Group adjusted for impacts related to the impairment of the fleet. The progression of RoIC is used by TORM to measure progress against our longer-term value creation goals outlined to investors. Adjusted RoIC is calculated as follows:
text: ¹⁾ Average invested capital is calculated as the average of the opening and closing balance of invested capital.
text: ²⁾ Average impairment is calculated as the average of the opening and closing balances of impairment charges on vessels and goodwill in the balance sheet.

Questions:
question: How is average invested capital calculated?
answer: as the average of the opening and closing balance of invested capital
question: How is average impairment calculated?
answer: as the average of the opening and closing balances of impairment charges on vessels and goodwill in the balance sheet.
question: For which years is the adjusted RoIC calculated in the table?
answer: 2019
2018
2017
question: In which year was the Average invested capital less average impairment the largest?
answer: 2019
derivation: 1,725.9>1,622.7>1,581.9
question: What was the change in the Average invested capital less average impairment in 2019 from 2018?
answer: 103.2
derivation: 1,725.9-1,622.7
scale: million
question: What was the percentage change in the Average invested capital less average impairment in 2019 from 2018?
answer: 6.36
derivation: (1,725.9-1,622.7)/1,622.7
scale: percent
(In millions, except per share amounts)
Quarter Ended
September 30
December 31
March 31
June 30
Total
Fiscal Year 2019
Revenue
$  29,084
$  32,471
$  30,571
$  33,717
$  125,843
Gross margin
19,179
20,048
20,401
23,305
82,933
Operating income
9,955
10,258
10,341
12,405
42,959
Net income (a)
8,824
8,420
8,809
13,187
39,240
Basic earnings per share
1.15
1.09
1.15
1.72
5.11
Diluted earnings per share (b)
1.14
1.08
1.14
1.71
5.06
Fiscal Year 2018
Revenue
$  24,538
$ 28,918
$ 26,819
$ 30,085
$ 110,360
Gross margin
16,260
17,854
17,550
20,343
72,007
Operating income
7,708
8,679
8,292
10,379
35,058
Net income (loss) (c)
6,576
(6,302)
7,424
8,873
16,571
Basic earnings (loss) per share
0.85
(0.82)
0.96
1.15
2.15
Diluted earnings (loss) per share (d)
0.84
(0.82)
0.95
1.14
2.13

text: NOTE 21 — QUARTERLY INFORMATION (UNAUDITED)
text: (a) Reflects the $157 million net charge related to the enactment of the TCJA for the second quarter and the $2.6 billion net income tax benefit related to the intangible property transfers for the fourth quarter, which together increased net income by $2.4 billion for fiscal year 2019. See Note 12 – Income Taxes for further information.
text: (b) Reflects the net charge related to the enactment of the TCJA and the net income tax benefit related to the intangible property transfers, which decreased (increased) diluted EPS $0.02 for the second quarter, $(0.34) for the fourth quarter, and $(0.31) for fiscal year 2019.
text: (c) Reflects the net charge (benefit) related to the enactment of the TCJA of $13.8 billion for the second quarter, $(104) million for the fourth quarter, and $13.7 billion for fiscal year 2018.
text: (d) Reflects the net charge (benefit) related to the enactment of the TCJA, which decreased (increased) diluted EPS $1.78 for the second quarter, $(0.01) for the fourth quarter, and $1.75 for fiscal year 2018.

Questions:
question: What does Note 12 cover?
answer: Income Taxes
question: How much was the net charge related to the enactment of the TCJA for the second quarter?
answer: $157 million net charge related to the enactment of the TCJA for the second quarter
question: What does Note 21 cover?
answer: QUARTERLY INFORMATION (UNAUDITED)
question: Which quarter ended in fiscal year 2019 saw the highest revenue?
answer: June 30
derivation: 33,717 > 32,471 > 30,571 > 29,084
question: How much would diluted EPS be for second quarter ended of fiscal year 2019 without the net charge related to the enactment of the TCJA and the net income tax benefit related to the intangible property transfers?
answer: 1.73
derivation: 1.71+0.02
question: How much would diluted earnings per share for fiscal year 2018 be without the net charge (benefit) related to the enactment of the TCJA?
answer: 3.88
derivation: 2.13+1.75
Years Ended
September 30, 2019
September 30, 2018
(Amounts in thousands)
Cost of sales
$7
$5
Engineering and development
49
32
Selling, general and administrative
736
654
Total
$792
$691

text: The following table summarizes stock-based compensation expense in the Company’s consolidated statements of operations:
text: For the year ended September 30, 2019, the Company granted 33,000 nonvested shares to certain key employees, 55,000 nonvested shares to certain officers including 35,000 shares granted to the Chief Executive Officer, and 20,000 nonvested shares
to its non-employee directors. For the year ended September 30, 2018, the Company granted 12,000 nonvested shares to certain key employees, 40,000 nonvested shares to certain officers including 30,000 to its Chief Executive Officer and 20,000 nonvested
shares to its non-employee directors.
text: The Company measures the fair value of nonvested stock awards based upon the market price of its common stock as of the date of grant. The Company used the Black-Scholes option-pricing model to value stock options. The Black-Scholes model requires the use of a number of assumptions including volatility of the Company’s stock price, the weighted average risk-free interest rate and the weighted average expected life of the options, at the time of grant. The expected dividend yield is equal to the divided per share declared, divided by the closing share price on the date the options were granted. All equity compensation awards granted for the years ended September 30, 2019 and September 30, 2018 were nonvested stock awards.

Questions:
question: How many nonvested shares did the company grant to key employees for the year ended September 30, 2019?
answer: 33,000
question: How does the company measure the value of the nonvested stock awards?
answer: Based upon the market price of its common stock as of the date of grant.
question: What is the total stock based compensation expense incurred for the year ended September 30, 2019?
answer: $792
scale: thousand
question: What percentage of the total stock based compensation is spent on the cost of sales?
answer: 0.88
derivation: $7/$792 
scale: percent
question: What is the percentage increase in the stock based compensation expense on cost of sales?
answer: 40
derivation: (7-5)/5 
scale: percent
question: What is the total stock based compensation expense on non-cost of sales related activities?
answer: 785
derivation: 792 - 7 
scale: thousand
RELATIVE IMPORTANCE OF SPEND ON PAY
Expenditure USDm
2019
2018
2017
Dividends paid
-
-
1.2
Purchase of outstanding treasury shares in TORM A/S
-
-
-
Purchase/disposals of treasury shares
-
-
-
Total
-
-
1.2
Staff costs
45.8
46.2
43.8
Retained earnings
920.0
752.0
786.0

text: REMUNERATION COMMITTEE REPORT
text: The table above shows the actual expenditure of the Group for employee pay and distributions to shareholders compared to the retained earnings of the Group.

Questions:
question: What does the information in the table show?
answer: the actual expenditure of the Group for employee pay and distributions to shareholders compared to the retained earnings of the Group
question: What is the retained earnings for 2019?
answer: 920.0
scale: million
question: For which years is the actual expenditure of the Group for employee pay and distributions to shareholders compared to the retained earnings of the Group in the table?
answer: 2019
2018
2017
question: In which year were the staff costs the largest?
answer: 2018
derivation: 46.2>45.8>43.8
question: What was the change in retained earnings in 2019 from 2018?
answer: 168
derivation: 920.0-752.0
scale: million
question: What was the percentage change in retained earnings in 2019 from 2018?
answer: 22.34
derivation: (920.0-752.0)/752.0
scale: percent