Source document: stmicroelectronics_2019

Question: In 2019, why did the gross margin decreased?
Facts: due to normal price pressure and increased unsaturation charges, partially offset by improved manufacturing efficiencies, better product mix, and favorable currency effects, net of hedging.
Answer: due to normal price pressure and increased unsaturation charges, partially offset by improved manufacturing efficiencies, better product mix, and favorable currency effects, net of hedging.

Question: In 2018, why did the gross margin improved from previous year?
Facts: manufacturing efficiencies and better product mix, partially offset by normal price pressure and unfavorable currency effects, net of hedging.
Answer: manufacturing efficiencies and better product mix, partially offset by normal price pressure and unfavorable currency effects, net of hedging.

Question: What was the percentage of gross margin in 2018?
Facts: 40.0%
Answer: 40.0%

Question: What is the average Cost of sales?
Facts: 5,075; 5,803; 5,860
Derivation: (5,860+5,803+5,075) / 3
Answer: 5579.33 million

Question: What is the average Gross profit?
Facts: 3,272; 3,696; 3,861
Derivation: (3,696+3,861+3,272) / 3
Answer: 3609.67 million

Question: What is the average Gross margin (as percentage of net revenues)?
Facts: 38.7; 39.2; 40.0
Derivation: (38.7+40.0+39.2) / 3
Answer: 39.3 percent

Question: Was there a material bad debt expense in 2019, 2018 and 2017?
Facts: There was no material bad debt expense in 2019, 2018 and 2017.
Answer: There was no material bad debt expense in 2019, 2018 and 2017.

Question: Which is the largest customer of the company?
Facts: Apple
Answer: Apple

Question: How many million of trade accounts receivable were sold without recourse in 2019?
Facts: $75 million
Answer: $75 million

Question: What is the average Trade accounts receivable?
Facts: 1,292; 1,396
Derivation: (1,396+1,292) / 2
Answer: 1344

Question: What is the average Allowance for doubtful accounts?
Facts: 15; 16
Derivation: (16+15) / 2
Answer: 15.5

Question: What is the increase/ (decrease) in Trade accounts receivable from 2018 to 2019?
Facts: 1,292; 1,396
Derivation: 1,396-1,292
Answer: 104

Question: What is the Free Cash Flow in 2018?
Facts: $533 million
Answer: $533 million

Question: What was the Net cash used in investing activities in 2018?
Facts: (1,212)
Answer: (1,212) million

Question: What was the Free Cash flow in 2019?
Facts: $497 million
Answer: $497 million

Question: What is the increase / (decrease) in the Net cash from operating activities from 2018 to 2019?
Facts: 1,845; 1,869
Derivation: 1,869 - 1,845
Answer: 24 million

Question: What is the average Net cash used in investing activities?
Facts: 1,172; 1,212; 1,468
Derivation: - (1,172 + 1,212 + 1,468) / 3 
Answer: -1284 million

Question: What is the percentage increase / (decrease) in Free Cash Flow from 2018 to 2019?
Facts: 497; 533
Derivation: 497 / 533 - 1
Answer: -6.75 percent

Question: What are OEM?
Facts: Original Equipment Manufacturers (“OEM”) are the end-customers to which we provide direct marketing application engineering support
Answer: Original Equipment Manufacturers (“OEM”) are the end-customers to which we provide direct marketing application engineering support

Question: What are distribution customers?
Facts: Distribution customers refers to the distributors and representatives that we engage to distribute our products around the world.
Answer: Distribution customers refers to the distributors and representatives that we engage to distribute our products around the world.

Question: What was the revenues weight in Distribution in 2019?
Facts: Our revenues weight in Distribution registered a decrease of 5 percentage point compared to 2018, reaching a 30% share of total revenues in 2019.
Answer: Our revenues weight in Distribution registered a decrease of 5 percentage point compared to 2018, reaching a 30% share of total revenues in 2019.

Question: What is the average percentage of net revenues of OEM?
Facts: 65; 66; 70
Derivation: (70+65+66) / 3
Answer: 67 percent

Question: What is the average percentage of net revenues of Distribution?
Facts: 30; 34; 35
Derivation: (30+35+34) / 3
Answer: 33 percent

Question: What is the increase/ (decrease) in percentage of net revenues of OEM from 2017 to 2019?
Facts: 66; 70
Derivation: 70%-66%
Answer: 4 percent

Question: What are Original Equipment Manufacturers?
Facts: Original Equipment Manufacturers (“OEM”) are the end-customers to which the Company provides direct marketing application engineering support
Answer: Original Equipment Manufacturers (“OEM”) are the end-customers to which the Company provides direct marketing application engineering support

Question: What are Distribution customers?
Facts: Distribution customers refers to the distributors and representatives that the Company engages to distribute its products around the world.
Answer: Distribution customers refers to the distributors and representatives that the Company engages to distribute its products around the world.

Question: When does the Company does not disclose the value of unsatisfied performance obligations?
Facts: (i) contracts with an original expected length of one year or less and (ii) contracts for which the Company recognizes revenue at the amount to which the Company has the right to invoice for services performed.
Answer: (i) contracts with an original expected length of one year or less and (ii) contracts for which the Company recognizes revenue at the amount to which the Company has the right to invoice for services performed.

Question: What is the average of Net revenues by geographical region of shipment?
Facts: 8,347; 9,556; 9,664
Derivation: (9,556+9,664+8,347) / 3
Answer: 9189

Question: What is the average of Revenues from sale of services?
Facts: 133; 148; 151
Derivation: (148+151+133) / 3
Answer: 144

Question: What is the average of Other revenues?
Facts: 27; 39; 52
Derivation: (27+52+39) / 3
Answer: 39.33

Question: What led to increase in other income, net of expenses in 2019?
Facts: the grants associated with the programs part of the European Commission IPCEI in Italy and in France, partially offset by a higher level of start-up costs associated with the production ramp up of the 200 mm fab recently acquired from Micron Technology Inc. in Singapore.
Answer: the grants associated with the programs part of the European Commission IPCEI in Italy and in France, partially offset by a higher level of start-up costs associated with the production ramp up of the 200 mm fab recently acquired from Micron Technology Inc. in Singapore.

Question: What led to decrease in other income, net of expenses in 2018?
Facts: lower level of R&D grants.
Answer: lower level of R&D grants.

Question: What was the other income, net of expenses in 2017?
Facts: $55 million
Answer: $55 million

Question: What is the average Research and development funding?
Facts: 132; 52; 65
Derivation: (132+52+65) / 3
Answer: 83 million

Question: What is the average gain on sale of businesses and non-current assets?
Facts: 4; 7; 8
Derivation: (7+8+4) / 3
Answer: 6.33 million

Question: What is the increase/ (decrease) in Research and development funding from 2017 to 2019?
Facts: 132; 65
Derivation: 132-65
Answer: 67 million

Question: What is Audit Fees?
Facts: Audit Fees consist of fees billed for the annual audit of our Company’s Consolidated Financial Statements, the statutory audit of the financial statements of the Company’s subsidiaries and consultations on complex accounting issues relating to the annual audit.
Answer: Audit Fees consist of fees billed for the annual audit of our Company’s Consolidated Financial Statements, the statutory audit of the financial statements of the Company’s subsidiaries and consultations on complex accounting issues relating to the annual audit.

Question: What is Audit-related services?
Facts: Audit-related services are assurance and related fees consisting of the audit of employee benefit plans, due diligence services related to acquisitions and certain agreed-upon procedures.
Answer: Audit-related services are assurance and related fees consisting of the audit of employee benefit plans, due diligence services related to acquisitions and certain agreed-upon procedures.

Question: What is Tax Fees?
Facts: Tax Fees include fees billed for tax compliance services, including the preparation of original and amended tax returns and claims for refund; tax consultations, such as assistance in connection with tax audits and expatriate tax compliance.
Answer: Tax Fees include fees billed for tax compliance services, including the preparation of original and amended tax returns and claims for refund; tax consultations, such as assistance in connection with tax audits and expatriate tax compliance.

Question: What is the increase/ (decrease) in Statutory Audit, Certification, Audit of Individual and Consolidated Financial Statements from the period 2018 to 2019?
Facts: 4,105,000; 4,556,500
Derivation: 4,105,000-4,556,500
Answer: -451500

Question: What is the increase/ (decrease) in Audit-Related Fees from the period 2018 to 2019?
Facts: 173,934; 209,005
Derivation: 209,005-173,934
Answer: 35071

Question: What is the increase/ (decrease) in total Fees from the period 2018 to 2019?
Facts: 4,314,005; 4,730,434
Derivation: 4,314,005-4,730,434
Answer: -416429

Question: Which government supported the R&D funding?
Facts: French government
Answer: French government

Question: What are start-up costs?
Facts: Start-up costs represent costs incurred in the start-up and testing of the Company’s new manufacturing facilities, before reaching the earlier of a minimum level of production or six months after the fabrication line’s quality certification.
Answer: Start-up costs represent costs incurred in the start-up and testing of the Company’s new manufacturing facilities, before reaching the earlier of a minimum level of production or six months after the fabrication line’s quality certification.

Question: What is included in the patent costs?
Facts: Patent costs include legal and attorney fees and payment for claims, patent pre-litigation consultancy and legal fees.
Answer: Patent costs include legal and attorney fees and payment for claims, patent pre-litigation consultancy and legal fees.

Question: What is the average Research and development funding?
Facts: 132; 52; 65
Derivation: (132+52+65) / 3
Answer: 83

Question: What is the average Phase-out and start-up costs?
Facts: 1; 38; 8
Derivation: (38+1+8) / 3
Answer: 15.67

Question: What is the average Patent costs?
Facts: 1; 8; 9
Derivation: (1+8+9) / 3
Answer: 6

Question: What was the Operating income in 2019?
Facts: $1,203 million
Answer: $1,203 million

Question: How much did the operating income decrease in 2019 as compared to 2018?
Facts: $197 million
Answer: $197 million

Question: What did the improved operating income in 2018 indicate?
Facts: reflecting higher volumes, improved manufacturing efficiencies and product mix and lower restructuring charges, partially offset by unfavorable currency effects, net of hedging, normal price pressure and higher operating expenses.
Answer: reflecting higher volumes, improved manufacturing efficiencies and product mix and lower restructuring charges, partially offset by unfavorable currency effects, net of hedging, normal price pressure and higher operating expenses.

Question: What is the average Operating income?
Facts: 1,005; 1,203; 1,400
Derivation: (1,203+1,400+1,005) / 3
Answer: 1202.67 million

Question: What is the average operating income as percentage of net revenues?
Facts: 12.0; 12.6; 14.5
Derivation: (12.6+14.5+12.0) / 3
Answer: 13.03 percent

Question: What is the increase/ (decrease) in Operating income from 2017 to 2019?
Facts: 1,005; 1,203
Derivation: 1,203-1,005
Answer: 198 million

Question: What was the interest expense in 2018?
Facts: $38 million
Answer: $38 million

Question: What was the interest income in 2019?
Facts: $6 million
Answer: $6 million

Question: What charges are included in Net interest?
Facts: the banking fees and the sale of trade and other receivables.
Answer: the banking fees and the sale of trade and other receivables.

Question: What is the average Income?
Facts: 30; 47; 55
Derivation: (55+47+30) / 3
Answer: 44 million

Question: What is the average Expense?
Facts: 52; 54
Derivation: (54+54+52) / 3
Answer: 53.33 million

Question: What is the increase/ (decrease) in income from December 31, 2018 to 2019?
Facts: 47; 55
Derivation: 55-47
Answer: 8 million

Question: How much was the payables to equity-method investments as of December 31, 2018?
Facts: $49 million
Answer: $49 million

Question: What was the new guideline adopted by the company on January 1, 2019?
Facts: On January 1, 2019, the Company adopted the new guidance on lease accounting and the current portion of the lease obligation is now included in other payables and accrued liabilities.
Answer: On January 1, 2019, the Company adopted the new guidance on lease accounting and the current portion of the lease obligation is now included in other payables and accrued liabilities.

Question: How much was the  payables to equity-method investments as of December 31, 2019?
Facts: nil
Answer: nil

Question: What is the average Employee related liabilities?
Facts: 375; 384
Derivation: (375+384) / 2
Answer: 379.5 million

Question: What is the average Employee compensated absences?
Facts: 125; 138
Derivation: (138+125) / 2 
Answer: 131.5 million

Question: What is the average Taxes other than income taxes?
Facts: 53; 60
Derivation: (53+60) / 2
Answer: 56.5 million

Question: What are Original Equipment Manufacturers?
Facts: Original Equipment Manufacturers (“OEM”) are the end-customers to which we provide direct marketing application engineering support
Answer: Original Equipment Manufacturers (“OEM”) are the end-customers to which we provide direct marketing application engineering support

Question: What are Distribution customers?
Facts: Distribution customers refers to the distributors and representatives that we engage to distribute our products around the world.
Answer: Distribution customers refers to the distributors and representatives that we engage to distribute our products around the world.

Question: How much did the Distribution accounted for in the fourth quarter of total revenues?
Facts: 28%
Answer: 28%

Question: What is the average net revenues from OEM for the period December 31, 2019 and 2018?
Facts: 69; 72
Derivation: (72+69) / 2
Answer: 70.5 percent

Question: What is the average net revenues from Distribution for the period December 31, 2019 and 2018?
Facts: 28; 31
Derivation: (28+31) / 2
Answer: 29.5 percent

Question: What is the increase/ (decrease) in OEM from the period December 31, 2018 to 2019?
Facts: 69; 72
Derivation: 72-69
Answer: 3 percent

Question: What was the fair value of the shares vested in 2019?
Facts: $114 million
Answer: $114 million

Question: What was the compensation cost excluding payroll tax and social contribution, capitalised as a part of inventory as of 31 December 2019?
Facts: $6 million
Answer: $6 million

Question: What was the total deferred income tax benefit recognized in 019?
Facts: $9 million
Answer: $9 million

Question: What was the increase ./ (decrease) in the cost of sales from 2018 to 2019?
Facts: 22; 23
Derivation: 22 - 23
Answer: -1 million

Question: What was the average of Selling, general and administrative?
Facts: 31; 46; 67
Derivation: (46 + 67 + 31) / 3
Answer: 48 million

Question: What was the percentage increase / (decrease) in the Research and development from 2018 to 2019?
Facts: 35; 77
Derivation: 77 / 35 - 1
Answer: 120 percent

Question: In 2019, what was the reason for increase in ADG revenues?
Facts: The increase was primarily due to improved average selling prices of approximately 9%, which was entirely due to a better product mix, and partially offset by a decrease in volumes by approximately 8%.
Answer: The increase was primarily due to improved average selling prices of approximately 9%, which was entirely due to a better product mix, and partially offset by a decrease in volumes by approximately 8%.

Question: In 2019, what was the reason for increase in AMS revenues?
Facts: AMS revenues grew 4.6%, mainly due to the double-digits growth in Imaging. The increase was due to higher average selling prices of approximately 12%, as a result of a better product mix, and was partially offset by lower volumes of approximately 7%.
Answer: AMS revenues grew 4.6%, mainly due to the double-digits growth in Imaging. The increase was due to higher average selling prices of approximately 12%, as a result of a better product mix, and was partially offset by lower volumes of approximately 7%.

Question: In 2019, what was the reason for fall in MDG revenues?
Facts: MDG revenues were down by 10.3%, mainly due to Microcontrollers. The decrease was due to lower volumes of approximately 10% while average selling prices remained substantially flat.
Answer: MDG revenues were down by 10.3%, mainly due to Microcontrollers. The decrease was due to lower volumes of approximately 10% while average selling prices remained substantially flat.

Question: What are the average net revenues by Automotive and Discrete Group (ADG)?
Facts: 3,059; 3,556; 3,606
Derivation: (3,606+3,556+3,059) / 3
Answer: 3407 million

Question: What are the average net revenues by Analog MEMS and Sensors Group (AMS)?
Facts: 2,630; 3,154; 3,299
Derivation: (3,299+3,154+2,630) / 3
Answer: 3027.67 million

Question: What are the average net revenues by Microcontrollers and Digital ICs Group (MDG)?
Facts: 2,638; 2,646; 2,940
Derivation: (2,638+2,940+2,646) / 3
Answer: 2741.33 million

Question: In 2019, how much revenue grew in Americas?
Facts: 6.8%
Answer: 6.8%

Question: In 2019, why did the revenue grew in Americas?
Facts: driven by Power Discrete
Answer: driven by Power Discrete

Question: In 2018,why did the revenues grew across all regions?
Facts: mainly due to growth in Imaging and Automotive.
Answer: mainly due to growth in Imaging and Automotive.

Question: What are the average net revenues by EMEA for Year Ended December 31?
Facts: 2,142; 2,265; 2,478
Derivation: (2,265+2,478+2,142) / 3
Answer: 2295 million

Question: What are the average net revenues by Americas for Year Ended December 31?
Facts: 1,085; 1,264; 1,351
Derivation: (1,351+1,264+1,085) / 3
Answer: 1233.33 million

Question: What are the average net revenues by Asia Pacific for Year Ended December 31?
Facts: 5,120; 5,922; 5,940
Derivation: (5,940+5,922+5,120) / 3
Answer: 5660.67 million

Question: How many non-current assets were sold without recourse as of December 31, 2019?
Facts: $131 million
Answer: $131 million

Question: How many non-current assets were sold without recourse as of December 31, 2018?
Facts: $122 million
Answer: $122 million

Question: What does Long-term state receivables include?
Facts: Long-term state receivables include receivables related to funding and receivables related to tax refund.
Answer: Long-term state receivables include receivables related to funding and receivables related to tax refund.

Question: What is the average Equity securities?
Facts: 19; 23
Derivation: (23+19) / 2
Answer: 21 million

Question: What is the average Long-term state receivables?
Facts: 358; 391
Derivation: (358+391) / 2
Answer: 374.5 million

Question: What is the average Deposits and other non-current assets?
Facts: 42; 56
Derivation: (56+42) / 2
Answer: 49 million

Question: Which program is associated to R&D?
Facts: IPCEI program
Answer: IPCEI program

Question: How much was the Other income and expenses, net in the fourth quarter of 2019?
Facts: $54 million
Answer: $54 million

Question: What led to increase in the other income and expenses, net in the fourth quarter of 2019?
Facts: higher R&D grants in Italy associated with the IPCEI program.
Answer: higher R&D grants in Italy associated with the IPCEI program.

Question: What is the average Research and development funding for the period December 31, 2019 and 2018?
Facts: 19; 68
Derivation: (68+19) / 2
Answer: 43.5 million

Question: What is the average Other income and expenses, net for the period December 31, 2019 and 2018?
Facts: 16; 54
Derivation: (54+16) /2
Answer: 35 million

Question: What is the increase/ (decrease) in Research and development funding from the period December 31, 2018 to 2019?
Facts: 19; 68
Derivation: 68-19
Answer: 49 million

Question: Why did on sequential basis the operating expenses increased?
Facts: driven by seasonality and salary dynamic.
Answer: driven by seasonality and salary dynamic.

Question: Why did on year-over-year basis the operating expenses increased?
Facts: mainly due to salary dynamic and increased spending on certain R&D programs, partially offset by favorable currency effects, net of hedging.
Answer: mainly due to salary dynamic and increased spending on certain R&D programs, partially offset by favorable currency effects, net of hedging.

Question: How much did the R&D expenses account for in the fourth quarter of 2019?
Facts: $37 million
Answer: $37 million

Question: What is the average Selling, general and administrative expenses for the period December 31, 2019 and September 29, 2019?
Facts: 267; 285
Derivation: (285+267) / 2
Answer: 276 million

Question: What is the average Research and development expenses for the period December 31, 2019 and 2018?
Facts: 345; 387
Derivation: (387+345) / 2
Answer: 366 million

Question: What is the increase/ (decrease) in total operating expenses from the period December 31, 2018 to 2019?
Facts: 630; 672
Derivation: 672-630
Answer: 42 million

Question: In 2019, what were the reasons for increase in operating expenses?
Facts: due to salary dynamic, increased spending in certain R&D programs and higher share-based compensation cost, partially offset by favorable currency effects, net of hedging.
Answer: due to salary dynamic, increased spending in certain R&D programs and higher share-based compensation cost, partially offset by favorable currency effects, net of hedging.

Question: In 2018, what were the reasons for increase in operating expenses?
Facts: due to unfavorable currency effects, net of hedging, salary dynamic, increased R&D activities and higher costs of the share-based compensation plans.
Answer: due to unfavorable currency effects, net of hedging, salary dynamic, increased R&D activities and higher costs of the share-based compensation plans.

Question: How much did the R&D expenses amounted for in 2019, 2018 and 2017?
Facts: The R&D expenses were net of research tax credits in France and Italy, which amounted to $126 million in 2019, $138 million in 2018 and $124 million in 2017.
Answer: The R&D expenses were net of research tax credits in France and Italy, which amounted to $126 million in 2019, $138 million in 2018 and $124 million in 2017.

Question: What is the average Selling, general and administrative expenses?
Facts: 1,093; 1,095; 981
Derivation: (1,093+1,095+981) / 3
Answer: 1056.33 million

Question: What is the average Research and development expenses?
Facts: 1,296; 1,398; 1,498
Derivation: (1,498+1,398+1,296) / 3
Answer: 1397.33 million

Question: What is the increase/ (decrease) in total operating expenses as percentage of net revenues from 2017 to 2019?
Facts: 27.1; 27.3
Derivation: 27.1-27.3
Answer: -0.2 percent

Question: What is tax holidays?
Facts: The tax holidays represent a tax exemption period aimed to attract foreign technological investment in certain tax jurisdictions.
Answer: The tax holidays represent a tax exemption period aimed to attract foreign technological investment in certain tax jurisdictions.

Question: What was the effect of tax holidays on the basic earnings per share in 2019?
Facts: $0.14
Answer: $0.14

Question: What was the tax benefit of the enactment of the tax reform introduced by Switzerland in third quarter 2019?
Facts: $20 million
Answer: $20 million

Question: What is the increase/ (decrease) in Income tax benefit (expense) computed at statutory rate from December 31, 2018 to 2019?
Facts: 297; 353
Derivation: 297-353
Answer: -56 million

Question: What is the increase/ (decrease) in Benefits from tax holidays from December 31, 2018 to 2019?
Facts: 129; 135
Derivation: 129-135
Answer: -6 million

Question: What is the increase/ (decrease) in Income tax benefit (expense) from December 31, 2018 to 2019?
Facts: 156; 96
Derivation: 156-96
Answer: 60 million

Question: What is approving authority of paid bonus?
Facts: The bonus paid in 2019, 2018 and 2017 was approved by the compensation Committee and Supervisory Board
Answer: The bonus paid in 2019, 2018 and 2017 was approved by the compensation Committee and Supervisory Board

Question: What was the total compensation of the sole member of our Managing Board, President and Chief Executive Officer in 2019?
Facts: 46% fixed to 54% variable
Answer: 46% fixed to 54% variable

Question: What was the total compensation of the sole member of our Managing Board, President and Chief Executive Officer in 2018?
Facts: 12% fixed to 88% variable
Answer: 12% fixed to 88% variable

Question: What is the increase/ (decrease) in Salary from the period 2017 to 2018?
Facts: 903,186; 927,820
Derivation: 927,820-903,186
Answer: 24634

Question: What is the increase/ (decrease) in Bonus from the period 2017 to 2018?
Facts: 1,044,514; 3,214,578
Derivation: 3,214,578-1,044,514
Answer: 2170064

Question: What is the increase/ (decrease) in Charges and Non-cash Benefits from the period 2017 to 2018?
Facts: 1,828,814; 6,971,946
Derivation: 6,971,946-1,828,814
Answer: 5143132

Question: In 2019, when did the first quarter ended?
Facts: March 30
Answer: March 30

Question: In 2020, when did the first quarter ended?
Facts: March 28
Answer: March 28

Question: What is the annual calendar of the financial cycle?
Facts: from January 1 to December 31
Answer: from January 1 to December 31

Question: What are the average days in Q1?
Facts: 88; 89; 90
Derivation: (90+89+88)/ 3
Answer: 89

Question: What is the increase/ (decrease) in Q1 days from 2018 to 2020?
Facts: 88; 90
Derivation: 88-90
Answer: -2

Question: What is the increase/ (decrease) in Q4 days from 2018 to 2020?
Facts: 93; 96
Derivation: 96-93
Answer: 3

Question: What were the new guidelines adopted by the company on January 1, 2019?
Facts: On January 1, 2019, the Company adopted the new guidance on lease accounting and lease right-of-use assets are included in plant, property and equipment.
Answer: On January 1, 2019, the Company adopted the new guidance on lease accounting and lease right-of-use assets are included in plant, property and equipment.

Question: How much recognition of property, plant and equipment led to the acquisition of Norstel?
Facts: $11 million.
Answer: $11 million.

Question: What were the depreciation charge for 2019, 2018 and 2017?
Facts: The depreciation charge was $785 million, $727 million and $592 million in 2019, 2018 and 2017, respectively.
Answer: The depreciation charge was $785 million, $727 million and $592 million in 2019, 2018 and 2017, respectively.

Question: What is the average Gross Cost?
Facts: 19,739; 20,552
Derivation: (20,552+19,739) / 2
Answer: 20145.5 million

Question: What is the average Accumulated Depreciation?
Facts: 16,244; 16,545
Derivation: (16,545+16,244) / 2
Answer: 16394.5 million

Question: What is the average Net Cost?
Facts: 3,495; 4,007
Derivation: (4,007+3,495) / 2
Answer: 3751 million

Question: What was the company's net cash position as of December 31, 2019?
Facts: $672 million
Answer: $672 million

Question: What was the financial debt comprised of as at December 31, 2019?
Facts: (i) $173 million of current portion of long-term debt and (ii) $1,899 million of long-term debt.
Answer: (i) $173 million of current portion of long-term debt and (ii) $1,899 million of long-term debt.

Question: What was the first EIB loan amount that was signed?
Facts: €350 million
Answer: €350 million

Question: What was the increase / (decrease) in cash and cash equivalents from 2018 to 2019?
Facts: 2,266; 2,597
Derivation: 2,597 - 2,266
Answer: 331 million

Question: What is the average restricted cash?
Facts: 0; 10
Derivation: (10 + 0 + 0) / 3
Answer: 3.33 million

Question: What is the percentage increase / (decrease) in the Total financial resources from 2018 to 2019?
Facts: 2,596; 2,744
Derivation: 2,744 / 2,596 - 1
Answer: 5.7 percent

Question: What does Technologies in progress in the table include?
Facts: includes internally developed software under construction and software not ready for use.
Answer: includes internally developed software under construction and software not ready for use.

Question: How much was the amortization expense in 2019?
Facts: $69 million
Answer: $69 million

Question: How much was the amortization expense in 2018?
Facts: $64 million
Answer: $64 million

Question: What is the average Gross Cost?
Facts: 1,277; 1,374
Derivation: (1,374+1,277) / 2
Answer: 1325.5 million

Question: What is the average Accumulated Amortization?
Facts: 1,065; 1,075
Derivation: (1,075+1,065) / 2
Answer: 1070 million

Question: What is the average Net Cost?
Facts: 212; 299
Derivation: (299+212) / 2
Answer: 255.5 million

Question: What caused the increase in Asia Pacific revenues in fourth quarter of 2019?
Facts: Imaging, Analog and Microcontrollers, Americas was up by 10.5%, mainly driven by Digital and Power Discrete, and EMEA decreased by 2.0%.
Answer: Imaging, Analog and Microcontrollers, Americas was up by 10.5%, mainly driven by Digital and Power Discrete, and EMEA decreased by 2.0%.

Question: What was the year-over-year increase in revenue for Asia?
Facts: 9.9%
Answer: 9.9%

Question: What caused the year-over-year increase in Revenue for Asia?
Facts: mainly due to Analog, Microcontrollers and Imaging.
Answer: mainly due to Analog, Microcontrollers and Imaging.

Question: What is the increase / (decrease) in the EMEA revenue from 2018 to 2019?
Facts: 538; 617
Derivation: 538 - 617
Answer: -79 million

Question: What is the average Americas revenue in 2019 and 2018?
Facts: 342; 360
Derivation: (360 + 342) / 2
Answer: 351 million

Question: What is the increase / (decrease) in the total revenue from 2018 to 2019?
Facts: 2,648; 2,754
Derivation: 2,754 - 2,648
Answer: 106 million

Question: How many million did the acquisition of Norstel contributed to goodwill?
Facts: $43 million
Answer: $43 million

Question: What are the steps included in the impairment test?
Facts: In the first step, the Company compared the fair value of the reporting units tested to their carrying value. Based upon the first step of the goodwill impairment test, no impairment was recorded since the fair value of the reporting units exceeded their carrying value.
Answer: In the first step, the Company compared the fair value of the reporting units tested to their carrying value. Based upon the first step of the goodwill impairment test, no impairment was recorded since the fair value of the reporting units exceeded their carrying value.

Question: How much no impairment loss was recorded by the Company in 2019, 2018 and 2017?
Facts: In 2019, 2018 and 2017, no impairment loss was recorded by the Company.
Answer: In 2019, 2018 and 2017, no impairment loss was recorded by the Company.

Question: What is the average goodwill for the period December 31, 2017?
Facts: 123; 2
Derivation: 123 / 2
Answer: 61.5 million

Question: What is the average goodwill for the period December 31, 2018?
Facts: 121; 2
Derivation: 121 / 2
Answer: 60.5 million

Question: What is the average goodwill for the period December 31, 2019?
Facts: 162; 3
Derivation: 162/ 3
Answer: 54 million

Question: How much was the income tax expense in the fourth quarter of 2019?
Facts: $62 million
Answer: $62 million

Question: What does the income tax expense in the third quarter of 2019, reflect?
Facts: in the third quarter of 2019 the estimated annual effective tax rate in each of our jurisdictions, applied to the consolidated results before taxes in the third quarter of 2019
Answer: in the third quarter of 2019 the estimated annual effective tax rate in each of our jurisdictions, applied to the consolidated results before taxes in the third quarter of 2019

Question: What does the income tax expense in the fourth quarter of 2018 and 2019, reflect?
Facts: in both fourth quarters the actual tax charges and benefits in each jurisdiction as well as the true-up of tax provisions based upon the most updated visibility on open tax matters in several jurisdictions.
Answer: in both fourth quarters the actual tax charges and benefits in each jurisdiction as well as the true-up of tax provisions based upon the most updated visibility on open tax matters in several jurisdictions.

Question: What is the average Income tax expense for the period September 29, and December 31, 2019?
Facts: 28; 62
Derivation: (62+28) / 2
Answer: 45 million

Question: What is the average Income tax expense for the period December 31, 2019 and 2018?
Facts: 28; 62
Derivation: (62+28) / 2
Answer: 45 million

Question: What is the increase/ (decrease) in Income tax expense from the period December 31, 2018 to 2019?
Facts: 28; 62
Derivation: 62-28
Answer: 34 million

Question: What led to the increase in the gross margin on a sequential basis?
Facts: mainly driven by improved product mix and better manufacturing efficiencies.
Answer: mainly driven by improved product mix and better manufacturing efficiencies.

Question: How much did the gross margin increase on a sequential basis
Facts: 140 basis points
Answer: 140 basis points

Question: What led to the decrease in the gross margin year-over-year
Facts: mainly impacted by price pressure and unsaturation charges, partially offset by improved manufacturing efficiencies, better product mix and favorable currency effects, net of hedging.
Answer: mainly impacted by price pressure and unsaturation charges, partially offset by improved manufacturing efficiencies, better product mix and favorable currency effects, net of hedging.

Question: What is the average Gross profit for the period December 31, 2019 and 2018?
Facts: 1,059; 1,081
Derivation: (1,081+1,059) / 2
Answer: 1070 million

Question: What is the average Gross margin (as percentage of net revenues) for the period December 31, 2019 and 2018?
Facts: 39.3; 40.0
Derivation: (39.3+40.0) / 2
Answer: 39.65 percent

Question: What is the increase/ (decrease) in Gross profit from the period December 31, 2018 to 2019?
Facts: 1,059; 1,081
Derivation: 1,081-1,059
Answer: 22 million

Question: What led to sequential increase in 2019?
Facts: resulted from higher volumes of approximately 7% and an increase of approximately 1% in average selling prices, the latter entirely due to product mix, while selling prices remained substantially stable.
Answer: resulted from higher volumes of approximately 7% and an increase of approximately 1% in average selling prices, the latter entirely due to product mix, while selling prices remained substantially stable.

Question: What led to increase in net revenues On a year-over-year basis?
Facts: due to an increase of approximately 6% in average selling prices, partially offset by an approximate 2% decrease in volumes.
Answer: due to an increase of approximately 6% in average selling prices, partially offset by an approximate 2% decrease in volumes.

Question: What led to increase in average selling price on a year-over-year basis?
Facts: driven by improved product mix of approximately 9%, partially offset by lower selling prices of approximately 3%.
Answer: driven by improved product mix of approximately 9%, partially offset by lower selling prices of approximately 3%.

Question: What is the average Net sales for the period December 31, 2019 and 2018?
Facts: 2,633; 2,750
Derivation: (2,750+2,633) / 2
Answer: 2691.5 million

Question: What is the average other revenues sales for the period December 31, 2019 and 2018?
Facts: 15; 4
Derivation: (4+15) / 2
Answer: 9.5 million

Question: What is the average net revenues for the period December 31, 2019 and 2018?
Facts: 2,648; 2,754
Derivation: (2,754+2,648) / 2
Answer: 2701 million

Question: What was the tax loss carryforwards and investment credits in 2019?
Facts: 612
Answer: 612

Question: What adjustments are made by the company for deferred tax asset and liabilities?
Facts: The Company does not offset deferred tax liabilities and assets attributable to different tax-paying components or to different tax jurisdictions.
Answer: The Company does not offset deferred tax liabilities and assets attributable to different tax-paying components or to different tax jurisdictions.

Question: What was the inventory valuation in 2019?
Facts: 28
Answer: 28

Question: What is the increase/ (decrease) in Total deferred tax assets from December 31, 2018 to 2019?
Facts: 2,255; 2,324
Derivation: 2,324-2,255
Answer: 69

Question: What is the increase/ (decrease) in Deferred tax liabilities from December 31, 2018 to 2019?
Facts: 114; 48
Derivation: 114-48
Answer: 66

Question: What is the increase/ (decrease) in Net deferred income tax asset from December 31, 2018 to 2019?
Facts: 659; 676
Derivation: 676-659
Answer: 17

Question: What was the annual cost of contribution pension plans in 2019?
Facts: $86 million
Answer: $86 million

Question: What was the annual cost of contribution pension plans in 2018?
Facts: $84 million
Answer: $84 million

Question: What was the annual cost of contribution pension plans in 2017?
Facts: $77 million
Answer: $77 million

Question: What is the average benefit payments for 2020 to 2021?
Facts: 29; 32
Derivation: (32+29) / 2
Answer: 30.5 million

Question: What is the average benefit payments for 2021 to 2022?
Facts: 29; 32
Derivation: (29+32) / 2
Answer: 30.5 million

Question: What is the average benefit payments for 2022 to 2023?
Facts: 32; 41
Derivation: (32+41) / 2
Answer: 36.5 million

Question: What is the full form of TAM?
Facts: The total available market is defined as the “TAM”
Answer: The total available market is defined as the “TAM”

Question: What is the full form of SAM?
Facts: the serviceable available market
Answer: the serviceable available market

Question: What is defined as SAM?
Facts: the serviceable available market, the “SAM”, is defined as the market for products sold by us (which consists of the TAM and excludes major devices such as Microprocessors (“MPUs”), Dynamic random-access memories (“DRAMs”), optoelectronics devices, Flash Memories and the Wireless Application Specific market products such as Baseband and Application Processor).
Answer: the serviceable available market, the “SAM”, is defined as the market for products sold by us (which consists of the TAM and excludes major devices such as Microprocessors (“MPUs”), Dynamic random-access memories (“DRAMs”), optoelectronics devices, Flash Memories and the Wireless Application Specific market products such as Baseband and Application Processor).

Question: What are the average net revenues for year ended December 31?
Facts: 9,556; 9,664
Derivation: (9,556+9,664) / 2
Answer: 9610 million

Question: What is the increase/ (decrease) in net revenues for year ended December 31, from 2018 to 2019?
Facts: 9,556; 9,664
Derivation: 9,556-9,664
Answer: -108 million

Question: What is the increase/ (decrease) in gross profit for year ended December 31, from 2018 to 2019?
Facts: 3,696; 3,861
Derivation: 3,696-3,861
Answer: -165 million

Question: What were the investments composed of as of December 31, 2019?
Facts: commingled and multi-strategy funds invested in diversified portfolios of corporate bonds (37%), government bonds (32%), equity (15%) and other instruments (16%).
Answer: commingled and multi-strategy funds invested in diversified portfolios of corporate bonds (37%), government bonds (32%), equity (15%) and other instruments (16%).

Question: What was the percentage of investment in corporate bonds as of December 31, 2018?
Facts: 55%
Answer: 55%

Question: What was the percentage of investment in treasury bonds and notes in 2018?
Facts: 45%
Answer: 45%

Question: What was the average investment in cash and cash equivalents?
Facts: 1; 2
Derivation: (2% + 1%) / 2
Answer: 1.5 percent

Question: What was the increase / (decrease) in the investment in Equity Securities from 2018 to 2019?
Facts: 24; 27
Derivation: 24% - 27%
Answer: -3 percent

Question: What was the increase / (decrease) in the Real estate from 2018 to 2019?
Facts: 2; 3
Derivation: 2% - 3%
Answer: -1 percent

Question: Why did the 2019 net revenues decreased 1.1% compared to the prior year?
Facts: a decrease in volumes of approximately 8%, partially compensated by an increase in average selling prices of approximately 7%.
Answer: a decrease in volumes of approximately 8%, partially compensated by an increase in average selling prices of approximately 7%.

Question: Why did the 2018 net revenues increased 15.8% compared to the prior year?
Facts: increase in average selling prices of approximately 16%, while volumes remained substantially flat.
Answer: increase in average selling prices of approximately 16%, while volumes remained substantially flat.

Question: What was the share of Apple in the net revenues in 2019, 2018 and 2017?
Facts: 17.6%, 13.1% and 10.5%
Answer: 17.6%, 13.1% and 10.5%

Question: What are the average Net sales?
Facts: 8,308; 9,529; 9,612
Derivation: (9,529+9,612+8,308) / 3
Answer: 9149.67 million

Question: What are the average other revenues?
Facts: 27; 39; 52
Derivation: (27+52+39) / 3
Answer: 39.33 million

Question: What are the average Net revenues?
Facts: 8,347; 9,556; 9,664
Derivation: (9,556+9,664+8,347 ) / 3
Answer: 9189 million

Question: How much unrecognized tax benefits were classified as a reduction of deferred tax assets as of December 31, 2019 and 2018?
Facts: $20 million; $21 million
Answer: $21 million; $20 million

Question: How much was the Accrued interest and penalties as of December 31, 2019?
Facts: $6 million
Answer: $6 million

Question: How much was the Accrued interest and penalties as of December 31, 2019?
Facts: $5 million
Answer: $5 million

Question: What is the increase/ (decrease) in Balance at beginning of year from December 31, 2018 to 2019?
Facts: 333; 38
Derivation: 38-333
Answer: -295 million

Question: What is the increase/ (decrease) in Balance at end of year from December 31, 2018 to 2019?
Facts: 38; 48
Derivation: 48-38
Answer: 10 million

Question: What is the increase/ (decrease) in Settlements from December 31, 2018 to 2019?
Facts: 18; 2
Derivation: 2-18
Answer: -16 million

Question: What was the exchange rate used for EUR to USD on 31 December 2019?
Facts: €1 = $1.1213
Answer: €1 = $1.1213

Question: Since when has Mr. Manzi not been a part of the supervisory board?
Facts: May 23, 2019
Answer: May 23, 2019

Question: What is the comment on the status of Global indirect employees?
Facts: Global indirect employees are all employees other than those directly manufacturing our products.
Answer: Global indirect employees are all employees other than those directly manufacturing our products.

Question: What was the increase / (decrease) in the Average remuneration of Supervisory Board Members from 2018 to 2019?
Facts: 105,066; 115,618
Derivation: 105,066 - 115,618
Answer: -10552 million

Question: What was the average Net Revenues?
Facts: 8,347; 9,556; 9,664
Derivation: (9,556 + 9,664 + 8,347) / 3
Answer: 9189 million

Question: What is the percentage increase / (decrease) in Operating income from 2018 to 2019?
Facts: 1,203; 1,400
Derivation: 1,203 / 1,400 - 1
Answer: -14.07 percent

Question: What is the correspond of Cash equivalents?
Facts: Cash equivalents primarily correspond to deposits at call with banks.
Answer: Cash equivalents primarily correspond to deposits at call with banks.

Question: Under which head of balance sheet does senior unsecured convertible bonds correspond to?
Facts: The carrying amount of the senior unsecured convertible bonds as reported above corresponds to the liability component only.
Answer: The carrying amount of the senior unsecured convertible bonds as reported above corresponds to the liability component only.

Question: How much amount was recorded in shareholders’ equity as the value of the equity instrument embedded in the convertible instrument?
Facts: $242 million
Answer: $242 million

Question: What is the increase/ (decrease) in Cash equivalents of Carrying Amount from 2018 to 2019?
Facts: 1,691; 2,138
Derivation: 1,691-2,138
Answer: -447 million

Question: What is the increase/ (decrease) in Bank loans (including current portion) of Carrying Amount from 2018 to 2019?
Facts: 594; 718
Derivation: 718-594
Answer: 124 million

Question: What is the increase/ (decrease) in Senior unsecured convertible bonds of Carrying Amount from 2018 to 2019?
Facts: 1,316; 1,354
Derivation: 1,354-1,316
Answer: 38 million

Question: In 2019, what constituted Impairment, restructuring charges and other related closure costs?
Facts: mainly consisting of impairment of equipment and licenses dedicated exclusively to certain development projects that were cancelled, while no alternative future use was identified internally.
Answer: mainly consisting of impairment of equipment and licenses dedicated exclusively to certain development projects that were cancelled, while no alternative future use was identified internally.

Question: In 2018, what constituted Impairment, restructuring charges and other related closure costs?
Facts: (i) $19 million related to the set-top box restructuring plan and (ii) $2 million of impairment of acquired technologies, for which it was determined that they had no future alternative use.
Answer: (i) $19 million related to the set-top box restructuring plan and (ii) $2 million of impairment of acquired technologies, for which it was determined that they had no future alternative use.

Question: How much was the net restructuring charges related to the set-top box restructuring plan in 2017?
Facts: $34 million
Answer: $34 million

Question: What is the average Impairment, restructuring charges and other related closure costs?
Facts: 21; 45; 5
Derivation: (5+21+45) / 3
Answer: 23.67 million

Question: What is the increase/ (decrease) in Impairment, restructuring charges and other related closure costs from 2017 to 2019?
Facts: 45; 5
Derivation: 5-45
Answer: -40 million

Question: What is the increase/ (decrease) in Impairment, restructuring charges and other related closure costs from 2017 to 2018?
Facts: 21; 45
Derivation: 21-45
Answer: -24 million

Question: What led to increase in net cash from operating activities in 2019?
Facts: mainly due to more favorable changes in net working capital, compensating lower net income.
Answer: mainly due to more favorable changes in net working capital, compensating lower net income.

Question: What was the value of proceeds from matured marketable securities in 2019?
Facts: $200 million
Answer: $200 million

Question: What was the value of Net cash used in financing activities  in 2019?
Facts: $343 million
Answer: $343 million

Question: What is the increase/ (decrease) in Net cash from operating activities from the period 2017 to 2019?
Facts: 1,677; 1,869
Derivation: 1,869-1,677
Answer: 192 million

Question: What is the increase/ (decrease) in Net cash used in investing activities from the period 2017 to 2019?
Facts: 1,172; 1,468
Derivation: 1,172-1,468
Answer: -296 million

Question: What is the increase/ (decrease) in Net cash used in financing activities from the period 2017 to 2019?
Facts: 106; 343
Derivation: 343-106
Answer: 237 million

Question: How much net income represented diluted earnings per share in 2019?
Facts: $1.14
Answer: $1.14

Question: How much net income represented diluted earnings per share in 2018?
Facts: $1.41
Answer: $1.41

Question: How much net income represented diluted earnings per share in 2017?
Facts: $0.89
Answer: $0.89

Question: What is the average net income attributable to parent company?
Facts: 1,032; 1,287; 802
Derivation: (1,032+1,287+802) / 3
Answer: 1040.33 million

Question: What is the increase/ (decrease) in net income attributable to parent company from 2018 to 2019?
Facts: 1,032; 1,287
Derivation: 1,032-1,287
Answer: -255 million

Question: What is the increase/ (decrease) in net income attributable to parent company from 2017 to 2018?
Facts: 1,287; 802
Derivation: 1,287-802 
Answer: 485 million

Question: What led to increase in the revenue of ADG on sequential basis?
Facts: driven by an increase in volumes of approximately 8%, partially offset by a decrease in average selling prices of approximately 5%, mostly attributable to product mix.
Answer: driven by an increase in volumes of approximately 8%, partially offset by a decrease in average selling prices of approximately 5%, mostly attributable to product mix.

Question: What led to increase in the revenue of AMS on sequential basis?
Facts: driven by Analog and Imaging products. AMS increase was due to an increase of approximately 5% in average selling prices, entirely due to product mix, and to higher volumes of approximately of 7%.
Answer: driven by Analog and Imaging products. AMS increase was due to an increase of approximately 5% in average selling prices, entirely due to product mix, and to higher volumes of approximately of 7%.

Question: What led to increase in the revenue of MDG on sequential basis?
Facts: driven by Microcontrollers, due to both higher average selling prices of approximately 6%, entirely due to product mix, and higher volumes of approximately 2%.
Answer: driven by Microcontrollers, due to both higher average selling prices of approximately 6%, entirely due to product mix, and higher volumes of approximately 2%.

Question: What is the average net revenues from Automotive and Discrete Group (ADG) for the period December 31, 2019 and 2018?
Facts: 924; 967
Derivation: (924+967) / 2
Answer: 945.5 million

Question: What is the average net revenues from Analog, MEMS and Sensors Group (AMS) for the period December 31, 2019 and 2018?
Facts: 1,085; 988
Derivation: (1,085+988) / 2
Answer: 1036.5 million

Question: What is the average net revenues from Microcontrollers and Digital ICs Group (MDG) for the period December 31, 2019 and 2018?
Facts: 689; 742
Derivation: (742+689) / 2 
Answer: 715.5 million