next-tat/TAT-QA huggingface dataset:
December 31
2019
2018
(in thousands)
Government
$1,012
$—
Asset Backed
4,854
1,786
Industrial
5,034
2,381
Financial
6,879
7,136
$17,779
$11,303

text: NOTE 3 - SHORT TERM INVESTMENTS
text: The Company's short term investments are classified as below with maturities of twelve months or less, unrealized gains and losses were immaterial for the periods presented:

Questions:
question: What are the respective values of the company's asset-backed short term investments in 2018 and 2019 respectively?
answer: 1,786
4,854
scale: thousand
question: What are the respective values of the company's industrial short term investments in 2018 and 2019 respectively?
answer: 2,381
5,034
scale: thousand
question: What are the respective values of the company's financial short term investments in 2018 and 2019 respectively?
answer: 7,136
6,879
scale: thousand
question: What is the percentage change in the company's asset-backed short term investments between 2018 and 2019?
answer: 171.78
derivation: (4,854 - 1,786)/1,786 
scale: percent
question: What is the percentage change in the company's industrial short term investments between 2018 and 2019?
answer: 111.42
derivation: (5,034-2,381)/2,381 
scale: percent
question: What is the percentage change in the company's financial short term investments between 2018 and 2019?
answer: -3.6
derivation: (6,879 - 7,136)/7,136 
scale: percent
20181
20192
World
3.6
2.9
Germany
1.5
0.6
Western Europe (excl.Germany)
1.9
1.3
Russia
2.3
1.1
Eastern Europe (excl.Russia)
4.1
3.6
Asia
5.6
4.9

text: DEVELOPMENT OF GROSS DOMESTIC PRODUCT IN IMPORTANT WORLD REGIONS AND GERMANY
text: Year-on-year change in %
text: Real GDP growth corrected for purchasing power. Source: Oxford Economics
text: 1 The previous year’s figures may slightly deviate from the Annual Report 2017/18, since retrospective corrections are being made by the data provider.
text: 2 Outlook.

Questions:
question: Why might the figures in this annual report deviate slightly from last year?
answer: since retrospective corrections are being made by the data provider
question: What is the year-on-year change in GDP in Asia in 2019?
answer: 4.9
scale: percent
question: Which regions in the table are listed in the analysis of GDP?
answer: World
Germany
Western Europe (excl.Germany)
Russia
Eastern Europe (excl.Russia)
Asia
question: In which year was the Year-on-year percentage change of GDP in Asia larger from 2018 to 2019?
answer: 2018
derivation: 5.6>4.9
question: What was the change in the year-on-year percentage change in GDP for Russia from 2018 to 2019?
answer: -1.2
derivation: 1.1-2.3
scale: percent
question: What was the change in the year-on-year percentage change in GDP for Germany from 2018 to 2019?
answer: -0.9
derivation: 0.6-1.5
scale: percent
December 31,
2019
2018
Cash
$8.2
$9.5
Cash equivalents
7.2
10.8
Cash and cash equivalents
$15.4
$20.3

text: Cash and Cash Equivalents
text: Highly liquid instruments purchased with original maturities of three months or less are considered cash equivalents. Cash equivalents are invested with high credit quality financial institutions and consist of short-term investments, such as demand deposit accounts, money market accounts, money market funds and time deposits. The carrying amounts of these instruments reported in the Consolidated Balance Sheets approximate their fair value because of their immediate or short-term maturities.
text: Cash and cash equivalents are unrestricted and include the following (in millions):

Questions:
question: What was considered by the company to be cash equivalents?
answer: Highly liquid instruments purchased with original maturities of three months or less
question: Which years does the table provide information for the company's Cash and cash equivalents are unrestricted?
answer: 2019
2018
question: What was the total cash and cash equivalents in 2018?
answer: 20.3
scale: million
question: What was the change in cash equivalents between 2018 and 2019?
answer: -3.6
derivation: 7.2-10.8
scale: million
question: What was the change in Cash between 2018 and 2019?
answer: -1.3
derivation: 8.2-9.5
scale: million
question: What was the percentage change in Cash and cash equivalents between 2018 and 2019?
answer: -24.14
derivation: (15.4-20.3)/20.3
scale: percent
Unaudited
Three months ended
Year ended
31 December
30 September
31 December
31 December
31 December
2019
2019
2018
2019
2018
(RMB in millions, unless specified)
EBITDA (a)
35,675
35,378
27,180
137,268
110,404
Adjusted EBITDA (a)
38,572
38,123
29,701
147,395
118,273
Adjusted EBITDA margin (b)
36%
39%
35%
39%
38%
Interest and related expenses
2,348
2,086
1,345
7,690
4,898
Net debt (c)
(15,552)
(7,173)
(12,170)
(15,552)
(12,170)
Capital expenditures (d)
16,869
6,632
4,564
32,369
23,941

text: (a) EBITDA is calculated as operating profit less interest income and other gains/losses, net and adding back depreciation of property, plant and equipment, investment properties as well as right-of-use assets, and amortisation of intangible assets. Adjusted EBITDA is calculated as EBITDA plus equity-settled share-based compensation expenses.
text: (b) Adjusted EBITDA margin is calculated by dividing Adjusted EBITDA by revenues.
text: (c) Net debt represents period end balance and is calculated as cash and cash equivalents, plus term deposits and others, minus borrowings and notes payable.
text: (d) Capital expenditures consist of additions (excluding business combinations) to property, plant and equipment, construction in progress, investment properties, land use rights and intangible assets (excluding video and music contents, game licences and other contents).

Questions:
question: How is the adjusted EBITDA margin calculated?
answer: Adjusted EBITDA margin is calculated by dividing Adjusted EBITDA by revenues.
question: What is adjusted EBITDA calculated as?
answer: Adjusted EBITDA is calculated as EBITDA plus equity-settled share-based compensation expenses.
question: What does capital expenditures consist of?
answer: Capital expenditures consist of additions (excluding business combinations) to property, plant and equipment, construction in progress, investment properties, land use rights and intangible assets (excluding video and music contents, game licences and other contents).
question: What is the difference between EBITDA and Adjusted EBITDA for three months ended 31 December 2019?
answer: 2897
derivation: 38,572-35,675
scale: million
question: What is the difference between EBITDA and adjusted EBITDA for three months ended 30 September 2019?
answer: 2745
derivation: 38,123-35,378
scale: million
question: What is the difference between EBITDA and adjusted EBITDA for three months ended 31 December 2018?
answer: 2521
derivation: 29,701-27,180
scale: million
December 31,
2019
2018
Term loans
$756,060
$284,959
Revolving credit facility
239,000
—
5.750% Senior Notes, due August 2026
400,000
400,000
Debt issuance costs
(21,905 )
(13,203 )
Total debt
1,373,155
671,756
Less current portion of term credit facility
38,950
23,747
Less current portion of debt issuance costs
(4,802 )
(2,980 )
Total long-term debt
$1,339,007
$650,989

text: The Credit Agreement and 2026 Notes contain certain customary affirmative covenants and negative covenants that limit or restrict, subject to certain exceptions, the incurrence of liens, indebtedness of subsidiaries, mergers, advances, investments, acquisitions, transactions with affiliates, change in nature of business, and the sale of the assets. In addition, the Credit Agreement and 2026 Notes contain certain customary mandatory prepayment provisions. The Company is also required to maintain a consolidated leverage ratio at or below a specified amount and an interest coverage ratio at or above a specified amount. As specified in the Credit Agreement and 2026 Notes agreement, if certain events occur and continue, the Company may be required to repay all amounts outstanding under the Credit Facility and 2026 Notes. As of December 31, 2019, and at all times during the period, the Company was in compliance with its financial debt covenants.
text: Total debt is comprised of the following (in thousands):

Questions:
question: What were the term loans in 2019?
answer: $756,060
scale: thousand
question: What were the term loans in 2018?
answer: $284,959
scale: thousand
question: What was the Revolving credit facility in 2019?
answer: 239,000
scale: thousand
question: What was the change in term loans between 2018 and 2019?
answer: 471101
derivation: $756,060-$284,959
scale: thousand
question: What was the change in total debt between 2018 and 2019?
answer: 701399
derivation: 1,373,155-671,756
scale: thousand
question: What was the percentage change in total long-term debt between 2018 and 2019?
answer: 105.69
derivation: ($1,339,007-$650,989)/$650,989
scale: percent
Payments Due by Period
Total
Less than 1 year
1-3 years
3-5 years
More than 5 years
Operating lease obligations
$ 70,284
$ 17,180
$ 23,116
$ 12,738
$ 17,250
Term loans
756,060
38,950
89,381
627,729
—
Term loans interest (1)
117,168
30,025
55,232
31,911
—
Revolving credit facility
239,000
—
—
239,000
—
Revolving credit facility interest (2)
40,528
9,536
19,072
11,920
—
Senior notes
400,000
—
—
—
400,000
Senior notes interest (3)
149,500
23,000
46,000
46,000
34,500
Financed internal-use software (4)
13,822
5,974
7,848
—
—
Total
$1,786,362
$124,665
$240,649
$969,298
$451,750

text: Contractual Obligations and Commercial Commitments
text: We lease office space and equipment under operating leases that run through October 2028. Additionally, we have entered into a Credit Agreement that matures in April 2024 and have issued Senior Notes that mature in August 2026.
text: Contractual obligations as of December 31, 2019, are as follows (in thousands):
text: (1) Based on the Term Loans debt outstanding and interest rate in effect at December 31, 2019, of 4.05%.
text: (2) Based on Revolving Credit Facility debt outstanding and interest rate in effect at December 31, 2019, of 3.99%.
text: (3) Based on 2026 Notes issued of $400.0 million with an annual interest rate of 5.750%.
text: (4) During the year ended December 31, 2019, we financed certain multi-year license agreements for internal-use software for $10.4 million with annual payments through April 1, 2022. As of December 31, 2019, $13.8 million is outstanding under these and other agreements previously entered into, of which $6.0 million and $7.8 million is included in other current liabilities and other noncurrent liabilities, respectively, in our Consolidated Balance Sheet in Part IV, Item 15 of this Form 10-K as of December 31, 2019.
text: We are unable to reasonably estimate the ultimate amount or timing of settlement of our reserves for income taxes under ASC 740, Income Taxes. The liability for unrecognized tax benefits at December 31, 2019, is $29.0 million.

Questions:
question: What were the term loans based on?
answer: the Term Loans debt outstanding and interest rate in effect at December 31, 2019, of 4.05%.
question: What was the total term loans?
answer: 756,060
scale: thousand
question: What was the total term loans interest?
answer: 117,168
scale: thousand
question: What percentage of the total consists of payments due less than 1 year?
answer: 6.98
derivation: $124,665/$1,786,362
scale: percent
question: What percentage of the total consists of payments due in 1-3 years?
answer: 13.47
derivation: $240,649/$1,786,362
scale: percent
question: What percentage of the total contractual obligations consists of term loans?
answer: 42.32
derivation: 756,060/$1,786,362
scale: percent
Fiscal Year Ended January 31,
2019
2018
Plans with accumulated benefit obligations in excess of plan assets:
Accumulated benefit obligations
$75.6
$130.7
Plan assets
70.0
112.1
Plans with projected benefit obligations in excess of plan assets:
Projected benefit obligations
$91.6
$158.1
Plan assets
80.8
121.1

text: On a worldwide basis, the Company's defined benefit pension plans were 88% funded as of January 31, 2019.
text: As of January 31, 2019, the aggregate accumulated benefit obligation was $85.1 million for the defined benefit pension plans compared to $139.5 million as of January 31, 2018. Included in the aggregate data in the following tables are the amounts applicable to the Company's defined benefit pension plans, with accumulated benefit obligations in excess of plan assets, as well as plans with projected benefit obligations in excess of plan assets. Amounts related to such plans at the end of each period were as follows: because their exercise prices are higher than the average market value of Autodesk’s stock during the fiscal year.

Questions:
question: What was the defined benefit pension plans as of January 31, 2019?
answer: As of January 31, 2019, the aggregate accumulated benefit obligation was $85.1 million for the defined benefit pension plans compared to $139.5 million as of January 31, 2018.
question: How much of the company's defined benefit pension plans were funded as of January 31, 2019?
answer: 88%
question: How much are the projected benefit obligations for 2019?
answer: $91.6
scale: million
question: How much is the percentage change in the projected benefit obligations from 2018 to 2019?
answer: -42.06
derivation: ((91.6-158.1)/158.1)
scale: percent
question: What was the change in the aggregate accumulated benefit obligation from 2018 to 2019?
answer: 54.4
derivation: 139.5-85.1
scale: million
question: How much did the plan assets change from 2018 to 2019 for plans with accumulated benefit obligations in excess of plan assets?
answer: -37.56
derivation: (70 - 112.1)/112.1 
scale: percent
Cost
Accum. amort.
Net book value
Assets subject to amortization:
Customer related intangibles
$3,926.8
$(1,083.6)
$  2,843.2
Unpatented technology
504.0
(199.5)
304.5
Software
172.0
(93.2)
78.8
Patents and other protective rights
9.7
(7.5)
2.2
Trade names
7.3
(2.8)
4.5
Assets not subject to amortization:
Trade names
608.9
—
608.9
Balances at December 31, 2018
$  5,228.7
$(1,386.6)
$  3,842.1
Assets subject to amortization:
Customer related intangibles
$  4,955.4
$(1,349.4)
$  3,606.0
Unpatented technology
613.0
(279.6)
333.4
Software
172.2
(111.5)
60.7
Patents and other protective rights
12.0
(8.0)
4.0
Trade names
7.9
(4.1)
3.8
Assets not subject to amortization:
Trade names
659.8
—
659.8
Balances at December 31, 2019
$ 6,420.3
$(1,752.6)
$ 4,667.7

text: Other intangible assets were comprised of:
text: Amortization expense of other intangible assets was $364.7, $316.5, and $294.3 during the years ended December 31, 2019, 2018 and 2017, respectively. Amortization expense is expected to be $400 in 2020, $383 in 2021, $379 in 2022, $347 in 2023 and $321 in 2024.

Questions:
question: What are the expected amortization expenses in 2020 and 2021, respectively?
answer: $400
$383
question: What is the total net book value of other intangible assets as at December 31, 2019?
answer: $ 4,667.7
question: What are the accumulated amortizations in 2018 and 2019, respectively?
answer: $(1,386.6)
$(1,752.6)
question: What is the percentage change in balances of net book value from 2018 to 2019?
answer: 21.49
derivation: (4,667.7-3,842.1)/3,842.1 
scale: percent
question: What is the proportion of the cost of software and trade names over total cost in 2018?
answer: 0.03
derivation: (172.0+7.3)/5,228.7 
question: What is the percentage change in the cost of customer-related intangible assets in 2019 compared to 2018?
answer: 26.19
derivation: (4,955.4-3,926.8)/3,926.8 
scale: percent
(dollars in millions)
Years Ended December 31,
2019
2018
Net cash provided by operating activities
$ 35,746
$ 34,339
Less Capital expenditures (including capitalized software)
17,939
16,658
Free cash flow
$ 17,807
$ 17,681

text: Free Cash Flow
text: Free cash flow is a non-GAAP financial measure that reflects an additional way of viewing our liquidity that, when viewed with our GAAP results, provides a more complete understanding of factors and trends affecting our cash flows. Free cash flow is calculated by subtracting capital expenditures from net cash provided by operating activities. We believe it is a more conservative measure of cash flow since purchases of fixed assets are necessary for ongoing operations.
text: Free cash flow has limitations due to the fact that it does not represent the residual cash flow available for discretionary expenditures. For example, free cash flow does not incorporate payments made on finance lease obligations or cash payments for business acquisitions or wireless licenses. Therefore, we believe it is important to view free cash flow as a complement to our entire consolidated statements of cash flows.
text: The following table reconciles net cash provided by operating activities to Free cash flow:
text: The increase in free cash flow during 2019 is a reflection of the increase in operating cash flows, partially offset by the increase in capital expenditures discussed above.

Questions:
question: How is free cash flow calculated?
answer: by subtracting capital expenditures from net cash provided by operating activities. We believe it is a more conservative measure of cash flow since purchases of fixed assets are necessary for ongoing operations.
question: What was the Less Capital expenditures (including capitalized software) in 2019?
answer: 17,939
scale: million
question: What was the free cash flow in 2019?
answer: $ 17,807
scale: million
question: What was the change in the net cash provided by operating activities from 2018 to 2019?
answer: 1407
derivation: 35,746 - 34,339
scale: million
question: What was the average free cash flow for 2018 and 2019?
answer: 17744
derivation: (17,807 + 17,681) / 2
scale: million
question: What was the percentage change in the Less Capital expenditures from 2018 to 2019?
answer: 7.69
derivation: 17,939 / 16,658 - 1
scale: percent
2019
2018
2017
Amount computed using statutory rate
$841
$2,122
$(1,078)
Net change in valuation allowance for net deferred tax assets
(459)
(367)
10,058
AMT and other
—
(191)
20
Foreign rate differential
664
22
(169)
Non-deductible items
(151)
(276)
(370)
State income tax
(370)
50
(34)
Impact of tax reform on deferred taxes
—
(4,901)
—
Research and development credits
1,694
475
2,494
Foreign income tax
(494)
—
—
Stock compensation, net
1,539
—
—
Income tax benefit (provision)
$3,264
$(3,066)
$10,921

text: Income Tax Provision Reconciliation
text: The difference between the income tax benefit (provision) and income taxes computed using the U.S. federal income tax rate was as follows for the years ended September 30, 2019, 2018, and 2017 (amounts shown in thousands):

Questions:
question: What does the table show us?
answer: The difference between the income tax benefit (provision) and income taxes computed using the U.S. federal income tax rate
question: What are the income tax benefits (provision), for the fiscal years 2017, 2018, and 2019, respectively?
answer: $10,921
$(3,066)
$3,264
scale: thousand
question: What are state income tax for the years 2018 and 2019, respectively?
answer: 50
(370)
scale: thousand
question: Which year has the highest income tax benefit? 
answer: 2017
derivation: 10,921>3,264>-3,066
question: What is the sum of amount computed using statutory rate and foreign rate differential in 2018 as a percentage of 2019?
answer: 1.42
derivation: (2,122+22)/(841+664) 
question: What is the percentage change in research and development credits from 2018 to 2019?
answer: 256.63
derivation: (1,694-475)/475 
scale: percent
Fiscal Years Ended March 31,
2018 (1)
2017 (2)
Pro forma revenues (3)
$1,217,655
$1,060,777
Pro forma net income from continuing operations available to common stockholders (3)
51,975
226,086
Pro forma earnings per common share - basic (3)
0.98
4.86
Pro forma earnings per common share - diluted (3)
0.89
4.08
Pro forma common shares - basic
52,798
46,552
Pro forma common shares - diluted
58,640
55,389

text: Pro Forma Results
text: The following table summarizes, on a pro forma basis, the combined results of operations of the Company and TOKIN as though the acquisition and the Sale of EMD had occurred as of April 1, 2016. The pro forma amounts presented are not necessarily indicative of either the actual consolidated results had the acquisition occurred as of April 1, 2016, or of future consolidated operating results (amounts in thousands, except per share data):
text: (1) The net income for the fiscal year ended March 31, 2018 excludes the following: 34% of the gain on sale of the EMD business of $75.2 million, the gain related to the fair value of KEMET’s previous 34% interest in TOKIN of $68.7 million, and the bargain gain on the acquisition of TOKIN of $62.2 million.
text: (2) The net income for the fiscal year ended March 31, 2017 includes the following: 34% of the gain on sale of the EMD business of $123.4 million (which includes the release of a valuation allowance that was recorded in the fourth quarter of fiscal year 2017 and the use of the deferred tax asset which was recorded in the first quarter of fiscal year 2018), the gain related to the fair value of KEMET’s previous 34% interest in TOKIN of $66.7 million, and the bargain gain on the acquisition of TOKIN of $60.3 million.
text: (3) Fiscal years ended March 31, 2018 and 2017 adjusted due to the adoption of ASC 606.

Questions:
question: How many percent of the gain on sale of the EMD business was excluded from the net income in 2018?
answer: 34
scale: percent
question: What was the pro forma revenue in 2017?
answer: 1,060,777
scale: thousand
question: What was the Pro forma common shares - diluted in 2018?
answer: 58,640
scale: thousand
question: What was the change in Pro forma revenues between 2017 and 2018?
answer: 156878
derivation: 1,217,655-1,060,777
question: Which years did the basic Pro forma earnings per common share exceed $1.00?
answer: 2017
derivation: (2017:4.86)
question: What was the percentage change in the diluted Pro forma common shares between 2017 and 2018?
answer: 5.87
derivation: (58,640-55,389)/55,389
scale: percent