Source document: formfactor_2019

Question: How much is the valuation allowance maintained As of December 28, 2019?
Facts: $36.6 million
Answer: $36.6 million

Question: What is the change in Provision (benefit) for income taxes from Fiscal Year Ended December 28, 2019 to December 29, 2018?
Facts: 11,717; 70,109
Derivation: 11,717-(70,109)
Answer: 81826 thousand

Question: What is the change in Provision (benefit) for income taxes from Fiscal Year Ended December 29, 2018 to December 30, 2017?
Facts: 1,293; 70,109
Derivation: (70,109)-1,293
Answer: -71402 thousand

Question: In which year was Provision (benefit) for income taxes greater than 10,000 thousands?
Facts: 2019
Derivation: locate and analyze Provision (benefit) for income taxes in row 4
Answer: 2019

Question: What was the Effective tax rate in 2018 and 2017 respectively?
Facts: (206.6) %; 3.1 %
Answer: (206.6) %; 3.1 % percent

Question: What was the reduction to valuation allowance in 2018?
Facts: $75.8 million
Answer: $75.8 million

Question: What is the main source of accounts receivable?
Facts: derived from sales to large multinational semiconductor manufacturers throughout the world
Answer: derived from sales to large multinational semiconductor manufacturers throughout the world

Question: What is the change in allowance Balance at beginning of year from Fiscal Year Ended December 28, 2019 to December 29, 2018?
Facts: 185; 200
Derivation: 185-200
Answer: -15 thousand

Question: What is the change in allowance Charges (reversals) to costs and expenses from Fiscal Year Ended December 28, 2019 to December 29, 2018?
Facts: 15; 37
Derivation: 37-(15)
Answer: 52 thousand

Question: In which year was Balance at beginning of year less than 200 thousands?
Facts: 2019
Derivation: locate and analyze Balance at beginning of year in row 3
Answer: 2019

Question: What was the Charges (reversals) to costs and expenses in 2019, 2018 and 2017 respectively?
Facts: (15); (99); 37
Answer: 37; (15); (99) thousand

Question: How does the company monitor the potential credit loss?
Facts: we perform ongoing credit evaluations of our customers' financial condition
Answer: we perform ongoing credit evaluations of our customers' financial condition

Question: What was the valuation allowance maintained from fourth quarter of fiscal 2009 to the third quarter of fiscal 2018?
Facts: 100%
Answer: 100%

Question: What was the amount of valuation allowance decrease in fiscal 2018?
Facts: $75.8 million
Answer: $75.8 million

Question: What were the tax credits in 2019 and 2018 respectively?
Facts: 39,586; 44,696
Answer: 44,696; 39,586 thousand

Question: What is the change in the Tax credits from 2018 to 2019?
Facts: 39,586; 44,696
Derivation: 44,696 - 39,586
Answer: 5110 thousand

Question: What is the average Inventory reserve for 2018 and 2019?
Facts: 10,850; 12,350
Derivation: (12,350 + 10,850) / 2
Answer: 11600 thousand

Question: In which years is the Other reserves and accruals greater than 5,000 thousand?
Facts: 2018; 2019
Derivation: locate and analyze the other reserves and accruals in row 5
Answer: 2019; 2018

Question: What is the basis of warranty liability?
Facts: based upon historical experience and our estimate of the level of future costs.
Answer: based upon historical experience and our estimate of the level of future costs.

Question: What is the change in Balance at beginning of year from Fiscal Year Ended December 28, 2019 to December 29, 2018?
Facts: 2,102; 3,662
Derivation: 2,102-3,662
Answer: -1560 thousand

Question: What is the change in Accruals from Fiscal Year Ended December 28, 2019 to December 29, 2018?
Facts: 3,181; 3,881
Derivation: 3,881-3,181
Answer: 700 thousand

Question: In which year was Accruals less than 4,000 thousands?
Facts: 2018; 2019
Derivation: locate and analyze Accruals in row 4
Answer: 2019; 2018

Question: What was the Settlements in 2019, 2018 and 2017 respectively?
Facts: (4,041); (4,741); (7,425)
Answer: (4,041); (4,741); (7,425) thousand

Question: Where are the warranty costs reflected?
Facts: Consolidated Statement of Income as a Cost of revenues
Answer: Consolidated Statement of Income as a Cost of revenues

Question: What is the increase in accounts payable from December 28, 2019 to December 29, 2018?
Facts: $0.9 million
Answer: $0.9 million

Question: What is the change in Net cash provided by operating activities from Fiscal Year Ended December 28, 2019 to December 29, 2018?
Facts: 121,048; 68,700
Derivation: 121,048-68,700
Answer: 52348 thousand

Question: What is the change in Net cash used in investing activities from Fiscal Year Ended December 28, 2019 to December 29, 2018?
Facts: 21,295; 66,352
Derivation: -66,352-(21,295)
Answer: -45057 thousand

Question: In which year was Net cash provided by operating activities less than 100,000 thousands?
Facts: 2017; 2018
Derivation: locate and analyze Net cash provided by operating activities in row 4
Answer: 2018; 2017

Question: What was the net income in 2019?
Facts: $39.3 million
Answer: $39.3 million

Question: What was the Net cash used in investing activities in 2019, 2018 and 2017 respectively?
Facts: (21,295); (59,425); (66,352)
Answer: (66,352); (21,295); (59,425) thousand

Question: What is the Weighted-average shares used in computing basic and diluted net income per share in 2019?
Facts: 77,286
Answer: 77,286 thousand

Question: What is the change in Weighted-average shares used in computing basic net income per share from Fiscal Year Ended December 28, 2019 to December 29, 2018?
Facts: 73,482; 74,994
Derivation: 74,994-73,482
Answer: 1512 thousand

Question: What is the change in Weighted-average shares used in computing basic and diluted net income per share from Fiscal Year Ended December 28, 2019 to December 29, 2018?
Facts: 75,182; 77,286
Derivation: 77,286-75,182
Answer: 2104 thousand

Question: In which year was Add potentially dilutive securities less than 2,000 thousands?
Facts: 2017; 2018
Derivation: locate and analyze Add potentially dilutive securities in row 4
Answer: 2018; 2017

Question: What was the Weighted-average shares used in computing basic net income per share in 2019, 2018 and 2017 respectively?
Facts: 72,292; 73,482; 74,994
Answer: 74,994; 73,482; 72,292 thousand

Question: How is the basic net income per share calculated?
Facts: computed by dividing net income by the weighted-average number of common shares outstanding for the period.
Answer: computed by dividing net income by the weighted-average number of common shares outstanding for the period.

Question: What is the unrecognized tax benefit, ending balance in 2019?
Facts: $28,800
Answer: $28,800 thousand

Question: What were the Unrecognized tax benefit, beginning balance in 2019, 2018 and 2017 respectively?
Facts: 17,978; 18,296; 25,224
Answer: 25,224; 18,296; 17,978 thousand

Question: Which tax years are open for examination in the federal, state and foreign jurisdictions respectively?
Facts: 2014 through 2019; 2015 through 2019; 2016 through 2019
Answer: 2016 through 2019; 2015 through 2019; 2014 through 2019

Question: What is the change in the Unrecognized tax benefit, beginning balance from 2018 to 2019?
Facts: 18,296; 25,224
Derivation: 25,224 - 18,296
Answer: 6928 thousand

Question: What is the average Additions based on tax positions related to the current year from 2017-2019?
Facts: 1,677; 3,679; 694
Derivation: (3,679 + 1,677 + 694) / 3
Answer: 2016.67 thousand

Question: Which year has the highest Unrecognized tax benefit, ending balance?
Facts: 2019
Derivation: 28,800> 25,224> 18,296
Answer: 2019

Question: How is Interest income earned?
Facts: on our cash, cash equivalents, restricted cash and marketable securities.
Answer: on our cash, cash equivalents, restricted cash and marketable securities.

Question: What is the change in Interest income from Fiscal Year Ended December 28, 2019 to December 29, 2018?
Facts: 1,356; 2,714
Derivation: 2,714-1,356
Answer: 1358 thousand

Question: What is the change in Weighted average balance of cash and investments from Fiscal Year Ended December 28, 2019 to December 29, 2018?
Facts: 138,467; 179,526
Derivation: 179,526-138,467
Answer: 41059 thousand

Question: In which year was Interest income less than 1,000 thousands?
Facts: 2017
Derivation: locate and analyze Interest income in row 4
Answer: 2017

Question: What was the Weighted average balance of cash and investments in 2019 and 2018 respectively?
Facts: $138,467; $179,526
Answer: $179,526; $138,467 thousand

Question: What does interest expense include?
Facts: interest on our term loans, partially offset by income from our interest-rate swap derivative contracts, as well as term loan issuance costs amortization charges.
Answer: interest on our term loans, partially offset by income from our interest-rate swap derivative contracts, as well as term loan issuance costs amortization charges.

Question: What led to increase in selling, general and administrative in fiscal 2019 compared to fiscal 2018?
Facts: The increase in selling, general and administrative in fiscal 2019 compared to fiscal 2018 was primarily due to higher variable costs on increased sales volumes
Answer: The increase in selling, general and administrative in fiscal 2019 compared to fiscal 2018 was primarily due to higher variable costs on increased sales volumes

Question: What is the average Selling, general and administrative for the Fiscal Year Ended December 28, 2019 to December 29, 2018?  
Facts: 106,335; 99,254
Derivation: (106,335+99,254) / 2
Answer: 102794.5 thousand

Question: What is the average Selling, general and administrative for the Fiscal Year Ended December 29, 2018 to December 30, 2017?
Facts: 95,489; 99,254
Derivation: (99,254+95,489) / 2
Answer: 97371.5 thousand

Question: In which year was Selling, general and administrative less than 100,000 thousands?
Facts: 2017; 2018
Derivation: locate and analyze the Selling, general and administrative in row 4
Answer: 2018; 2017

Question: What is the percentage of revenue in 2019 and 2018?
Facts: 18.0; 18.7
Answer: 18.0; 18.7 percent

Question: What was the Selling, general and administrative in 2018 and 2017?
Facts: 95,489; 99,254
Answer: 99,254; 95,489 thousand

Question: When was FRT GmbH acquired?
Facts: October 9, 2019
Answer: October 9, 2019

Question: What is the change in Term loans - principal payments from Fiscal Year 2021 to 2020?
Facts: 42,838; 7,838
Derivation: 7,838-42,838
Answer: -35000 thousand

Question: What is the change in Term loans - interest payments from Fiscal Year 2021 to 2020?
Facts: 155; 777
Derivation: 155-777
Answer: -622 thousand

Question: In which year was Term loans - principal payments less than 10,000 thousands?
Facts: 2021; 2022
Derivation: locate and analyze Term loans - principal payments in row 3
Answer: 2021; 2022

Question: What was the Term loans - interest payments in 2020, 2021 and 2022 respectively?
Facts: 155; 47; 777
Answer: 777; 155; 47 thousand

Question: What was the credit facility loan amount entered on October 25, 2019?
Facts: $23.4 million
Answer: $23.4 million

Question: What led to increase in Gross profit and gross margin in the Systems segment in fiscal 2019 compared to fiscal 2018?
Facts: Gross profit and gross margin in the Systems segment increased in fiscal 2019 compared to fiscal 2018 due to increased sales.
Answer: Gross profit and gross margin in the Systems segment increased in fiscal 2019 compared to fiscal 2018 due to increased sales.

Question: What is the increase/ (decrease) in Gross profit of Probe Cards from fiscal 2019 to 2018?
Facts: 187,320; 211,382
Derivation: 211,382-187,320
Answer: 24062 thousand

Question: What is the increase/ (decrease) in Gross profit of Systems from fiscal 2019 to 2018?
Facts: 47,074; 50,927
Derivation: 50,927-47,074
Answer: 3853 thousand

Question: For which revenue segment was Gross margin under 50.0% in 2019?
Facts: Corporate and Other; Probe Cards
Derivation: locate and analyze Gross Margin in row 4
Answer: Probe Cards; Corporate and Other

Question: What does cost of revenues include?
Facts: onsists primarily of manufacturing materials, payroll, shipping and handling costs, manufacturing-related overhead and amortization of certain intangible assets
Answer: onsists primarily of manufacturing materials, payroll, shipping and handling costs, manufacturing-related overhead and amortization of certain intangible assets

Question: What was the Gross Profit in 2019 for Probe Cards and Systems?
Facts: 43.0; 51.9
Answer: 43.0; 51.9 percent

Question: What led to increase in research and development expenses in fiscal 2019 compared to fiscal 2018?
Facts: The increase in research and development expenses in fiscal 2019 compared to fiscal 2018 was primarily driven by an increase in employee compensation costs
Answer: The increase in research and development expenses in fiscal 2019 compared to fiscal 2018 was primarily driven by an increase in employee compensation costs

Question: What is the average Research and development for the Fiscal Year Ended December 28, 2019 to December 29, 2018?  
Facts: 74,976; 81,499
Derivation: (81,499+74,976) / 2
Answer: 78237.5 thousand

Question: What is the average Research and development for the Fiscal Year Ended December 29, 2018 to December 30, 2017?
Facts: 73,807; 74,976
Derivation: (74,976+73,807) / 2
Answer: 74391.5 thousand

Question: In which year was Research and development less than 80,000 thousands?
Facts: 2018
Derivation: locate and analyze Research and development in row 4
Answer: 2018

Question: What was the % of revenues in 2019 and 2018?
Facts: 13.8 %; 14.2 %
Answer: 13.8 %; 14.2 %

Question: What was the change in Research and development from 2018 to 2019?
Facts: $6,523
Answer: $6,523 thousand

Question: What does corporate and others include?
Facts: includes unallocated expenses relating to amortization of intangible assets, share-based compensation expense, acquisition-related costs, including charges related to inventory stepped up to fair value, and other costs, which are not used in evaluating the results of, or in allocating resources to, our reportable segments.
Answer: includes unallocated expenses relating to amortization of intangible assets, share-based compensation expense, acquisition-related costs, including charges related to inventory stepped up to fair value, and other costs, which are not used in evaluating the results of, or in allocating resources to, our reportable segments.

Question: What was the revenues from different segments in 2017?
Facts: 0; 454,794; 93,647
Answer: 454,794; 93,647; 0

Question: What are the different streams of revenue?
Facts: Corporate and Other; Probe Cards; Systems
Answer: Probe Cards; Systems; Corporate and Other

Question: What percentage of total revenue is probe cards revenue in 2017?
Facts: 454,794; 548,441
Derivation: 454,794 / 548,441
Answer: 0.83

Question: What is the increase / (decrease) in the probe cards revenue from 2018 to 2019?
Facts: 434,269; 491,363
Derivation: 491,363 - 434,269
Answer: 57094

Question: What is the average revenue in 2017?
Facts: 0; 454,794; 93,647
Derivation: (454,794 + 93,647 + 0) / 3
Answer: 182813.67

Question: How is marketable securities classified?
Facts: We classify our marketable securities as available-for-sale.
Answer: We classify our marketable securities as available-for-sale.

Question: What is the increase/ (decrease) in Amortized Cost of U.S. Treasuries from Fiscal Year Ended December 28, 2019 to December 29, 2018?
Facts: 10,458; 7,997
Derivation: 10,458-7,997
Answer: 2461 thousand

Question: What is the increase/ (decrease) in Amortized Cost of Commercial paper from Fiscal Year Ended December 28, 2019 to December 29, 2018?
Facts: 2,296; 3,914
Derivation: 3,914-2,296
Answer: 1618 thousand

Question: What was the difference between the fair value of Commercial paper compared to U.S. Treasuries?
Facts: 10,469; 3,911
Derivation: 10,469 - 3,911
Answer: 6558 thousand

Question: What was the fair value of corporate bond?
Facts: 33,928
Answer: 33,928 thousand

Question: Where does the company typically invest?
Facts: highly-rated securities with low probabilities of default
Answer: highly-rated securities with low probabilities of default