Source document: first-solar-inc_2019

Question: What is the amount of unrealized losses from restricted investments at the end of 2018?
Facts: unrealized losses of $6.4 million
Answer: unrealized losses of $6.4 million

Question: What was the reason for the unrealized losses in 2018?
Facts: The unrealized losses were primarily due to increases in interest rates relative to rates at the time of purchase.
Answer: The unrealized losses were primarily due to increases in interest rates relative to rates at the time of purchase.

Question: What is the plan for the losing investments?
Facts: we generally hold such securities until we recover our cost basis
Answer: we generally hold such securities until we recover our cost basis

Question: What is the difference between the total fair value amount and total amortized amount at 2018? 
Facts: 171,021; 179,000
Derivation: 179,000-171,021 
Answer: 7979 thousand

Question: What percentage of the total unrealized gain is generated from U.S. government obligations in 2018?
Facts: 14,650; 416
Derivation: 416/14,650 
Answer: 2.84 percent

Question: What percentage of the total amortized cost is made up of foreign government obligations in 2018?
Facts: 171,021; 73,798
Derivation: 73,798/171,021 
Answer: 43.15 percent

Question: What were the reasons for the increase in sales from the modules segment in 2019?
Facts: Net sales from our modules segment increased by $958.1 million in 2019 primarily due to a 180% increase in the volume of watts sold and a 4% increase in the average selling price per watt.
Answer: Net sales from our modules segment increased by $958.1 million in 2019 primarily due to a 180% increase in the volume of watts sold and a 4% increase in the average selling price per watt.

Question: What are the two main currencies involved in the systems business?
Facts: Substantially all of our systems business net sales during 2019 were denominated in U.S. dollars and Australian dollars.
Answer: Substantially all of our systems business net sales during 2019 were denominated in U.S. dollars and Australian dollars.

Question: What was the percentage increase in modules sales from 2018 to 2019?
Facts: 191%
Answer: 191%

Question: What is the net difference in sale of systems between 2017 and 2019?
Facts: 139,042; 392,883
Derivation: -139,042  - 392,883 
Answer: -531925 thousand

Question: What is the net difference in sale of modules between 2017 and 2019?
Facts: 304,397; 958,115
Derivation: 958,115 - 304,397 
Answer: 653718 thousand

Question: What is the net percentage difference in net sales between 2017 and 2019?
Facts: 2,941,324; 697,280; 819,073
Derivation: (819,073 - 697,280) / 2,941,324 
Answer: 4.14 percent

Question: What amount of proceeds was derived from selling marketable securities in 2019?
Facts: During the year ended December 31, 2019, we sold marketable securities for proceeds of $52.0 million and realized no gain or loss on such sales.
Answer: During the year ended December 31, 2019, we sold marketable securities for proceeds of $52.0 million and realized no gain or loss on such sales.

Question: How many investments were at loss positions for greater than 12 months as at 31 December 2018?
Facts: 15
Answer: 15

Question: What were the reasons for the unrealized losses as at 31 December 2018?
Facts: The unrealized losses were primarily due to increases in interest rates relative to rates at the time of purchase.
Answer: The unrealized losses were primarily due to increases in interest rates relative to rates at the time of purchase.

Question: What percentage of the total amortized marketable securities is made up of amortized foreign debt?
Facts: 387,775; 811,277
Derivation: 387,775 / 811,277 
Answer: 47.8 percent

Question: What is the net gain/loss for U.S. debt?
Facts: 12; 176
Derivation: 176 - 12 
Answer: 164 thousand

Question: What percentage of the total fair value marketable securities is made up of fair value time deposits?
Facts: 335,541; 811,506
Derivation: 335,541 / 811,506 
Answer: 41.35 percent

Question: What is the interest rate on the credit facility agreement?
Facts: 8.0% per annum
Answer: 8.0% per annum

Question: When did 8point3 Energy Partners LP complete its initial IPO?
Facts: June 2015
Answer: June 2015

Question: How much distribution was received from OpCo in 2018?
Facts: $12.4 million
Answer: $12.4 million

Question: What is the change in operating lease assets from 2018 to 2019?
Facts: 0; 145,711
Derivation: 145,711 - 0 
Answer: 145711 thousand

Question: How much did the deferred rent decrease from 2018 to 2019?
Facts: 0; 27,249
Derivation: 0 - 27,249 
Answer: -27249 thousand

Question: What is the percentage change in other assets from 2018 to 2019?
Facts: 249,854; 98,878
Derivation: (249,854 - 98,878) / 98,878 
Answer: 152.69 percent

Question: What are the reasons for higher research and development expense in 2019?
Facts: Research and development expense in 2019 increased compared to 2018 primarily due to increased material and module testing costs and higher employee compensation expense.
Answer: Research and development expense in 2019 increased compared to 2018 primarily due to increased material and module testing costs and higher employee compensation expense.

Question: What is the percentage of net sales in 2017?
Facts: 3.0%
Answer: 3.0%

Question: What are components of research and development expense?
Facts: Research and development expense consists primarily of salaries and other personnel-related costs; the cost of products, materials, and outside services used in our R&D activities; and depreciation and amortization expense associated with R&D specific facilities and equipment.
Answer: Research and development expense consists primarily of salaries and other personnel-related costs; the cost of products, materials, and outside services used in our R&D activities; and depreciation and amortization expense associated with R&D specific facilities and equipment.

Question: What is the amount of net sales derived in 2017?
Facts: 3.0; 88,573
Derivation: 88,573 / 3.0% 
Answer: 2952433.33 thousand

Question: What is the net difference in research and development expense between 2019 and 2017?
Facts: 88,573; 96,611
Derivation: 96,611 - 88,573 
Answer: 8038 thousand

Question: What is the difference in net sales amount between 2018 and 2017?
Facts: 3.0; 3.8; 84,472; 88,573
Derivation: (84,472 / 3.8%) - (88,573 / 3.0%) 
Answer: -729485.96 thousand

Question: What was the net income per basic share in 2018?
Facts: $1.38
Answer: $1.38

Question: What was the net cash provided by (used in) operating activities in 2018 and 2019 respectively?
Facts: $(326,809); $174,201
Answer: $(326,809); $174,201 thousand

Question: What was the amount of marketable securities in 2019?
Facts: 811,506
Answer: 811,506 thousand

Question: What is the change in total shareholders' equity from 2018 to 2019?
Facts: 5,096,767; 5,212,403
Derivation: (5,096,767 - 5,212,403) / 5,212,403 
Answer: -2.22 percent

Question: What is the difference between Net (loss) income in 2018 and 2019?
Facts: 114,933; 144,326
Derivation: 144,326 - (-114,933) 
Answer: 259259 thousand

Question: What was the percentage increase in gross profit from 2018 to 2019?
Facts: 392,177; 549,212
Derivation: (549,212 - 392,177) / 392,177 
Answer: 40.04 percent

Question: What are components of production start-up expense?
Facts: Production start-up expense consists primarily of employee compensation and other costs associated with operating a production line before it is qualified for full production, including the cost of raw materials for solar modules run through the production line during the qualification phase and applicable facility related costs.
Answer: Production start-up expense consists primarily of employee compensation and other costs associated with operating a production line before it is qualified for full production, including the cost of raw materials for solar modules run through the production line during the qualification phase and applicable facility related costs.

Question: When will production start-up expense be higher?
Facts: In general, we expect production start-up expense per production line to be higher when we build an entirely new manufacturing facility compared with the addition or replacement of production lines at an existing manufacturing facility, primarily due to the additional infrastructure investment required when building an entirely new facility.
Answer: In general, we expect production start-up expense per production line to be higher when we build an entirely new manufacturing facility compared with the addition or replacement of production lines at an existing manufacturing facility, primarily due to the additional infrastructure investment required when building an entirely new facility.

Question: Where are production start-up expense incurred in 2019?
Facts: During 2019, we incurred production start-up expense at our new facility in Lake Township, Ohio. We also incurred production start-up expense at our second facility in Ho Chi Minh City, Vietnam in early 2019.
Answer: During 2019, we incurred production start-up expense at our new facility in Lake Township, Ohio. We also incurred production start-up expense at our second facility in Ho Chi Minh City, Vietnam in early 2019.

Question: What is the net difference in production start-up expense between 2019 and 2017?
Facts: 42,643; 45,915
Derivation: 45,915 - 42,643 
Answer: 3272 thousand

Question: What is the amount of net sales derived in 2018?
Facts: 4; 90,735
Derivation: 90,735 / 4% 
Answer: 2268375 thousand

Question: What is the difference in net sales amount in 2019 and 2018?
Facts: 1.5; 4; 45,915; 90,735
Derivation: (45,915 / 1.5%) - (90,735 / 4%) 
Answer: 792625 thousand

Question: What is the value of money market funds as of December 31, 2019?
Facts: $7,322
Answer: $7,322 thousand

Question: What is the value of foreign debt as of December 31, 2019?
Facts: 387,820
Answer: 387,820 thousand

Question: What is the value of foreign government obligations as of December 31, 2019?
Facts: 22,011
Answer: 22,011 thousand

Question: What is the difference in the value of money market funds and foreign debt as of December 31, 2019?
Facts: 387,820; 7,322
Derivation: 387,820-7,322
Answer: 380498 thousand

Question: What is the percentage constitution of money market funds among the total assets as of December 31, 2019?
Facts: 1,043,951; 7,322
Derivation: 7,322/1,043,951
Answer: 0.7 percent

Question: What is the difference in the value of time deposits and restricted investments as of December 31, 2019?
Facts: 223,785; 335,541
Derivation: 335,541-223,785
Answer: 111756 thousand

Question: What are the reasons for the increase in cash provided by operating activities in 2019?
Facts: primarily driven by higher cash proceeds from sales of systems projects, including the Sunshine Valley, Sun Streams, and California Flats projects, and advance payments received for sales of solar modules prior to the step down in the U.S. investment tax credit as discussed above.
Answer: primarily driven by higher cash proceeds from sales of systems projects, including the Sunshine Valley, Sun Streams, and California Flats projects, and advance payments received for sales of solar modules prior to the step down in the U.S. investment tax credit as discussed above.

Question: What are the reasons for the decrease in cash used in investing activities?
Facts: The decrease in net cash used in investing activities during 2019 was primarily due to higher net sales of marketable securities and restricted investments, partially offset by proceeds associated with the sale of our interests in 8point3 and its subsidiaries in 2018.
Answer: The decrease in net cash used in investing activities during 2019 was primarily due to higher net sales of marketable securities and restricted investments, partially offset by proceeds associated with the sale of our interests in 8point3 and its subsidiaries in 2018.

Question: What are the reasons for the decrease in cash provided by financing activities?
Facts: The decrease in net cash provided by financing activities during 2019 was primarily the result of lower net proceeds from borrowings under project specific debt financings associated with the construction of certain projects in Australia, Japan, and India.
Answer: The decrease in net cash provided by financing activities during 2019 was primarily the result of lower net proceeds from borrowings under project specific debt financings associated with the construction of certain projects in Australia, Japan, and India.

Question: What is the increase in cash provided by operating activities from 2018 to 2019?
Facts: 174,201; 326,809
Derivation: 174,201 - (-326,809) 
Answer: 501010 thousand

Question: What is the difference in net cash and cash equivalents between 2019 and 2018?
Facts: 116,113; 767,853
Derivation:  (-116,113) - (-767,853) 
Answer: 651740 thousand

Question: What is the percentage decrease in cash provided in financing activities from 2018 to 2019?
Facts: 255,228; 74,943
Derivation: (255,228 - 74,943) / 255,228 
Answer: 70.64 percent

Question: What are included in other obligations?
Facts: Includes expected letter of credit fees and unused revolver fees.
Answer: Includes expected letter of credit fees and unused revolver fees.

Question: Why was $72.2 million of unrecognized tax benefits excluded?
Facts: We have excluded $72.2 million of unrecognized tax benefits from the amounts presented above as the timing of such obligations is uncertain.
Answer: We have excluded $72.2 million of unrecognized tax benefits from the amounts presented above as the timing of such obligations is uncertain.

Question: What do purchase obligations represent?
Facts: Purchase obligations represent agreements to purchase goods or services, including open purchase orders and contracts with fixed volume commitments, that are noncancelable or cancelable with a significant penalty.
Answer: Purchase obligations represent agreements to purchase goods or services, including open purchase orders and contracts with fixed volume commitments, that are noncancelable or cancelable with a significant penalty.

Question: What percentage of the total contractual obligations is made up of total purchase obligations?
Facts: 1,424,267; 2,469,962
Derivation: 1,424,267/2,469,962 
Answer: 57.66 percent

Question: What percentage of the total contractual obligations is made up of total long-term debt obligations?
Facts: 2,469,962; 482,892
Derivation: 482,892/2,469,962 
Answer: 19.55 percent

Question: What difference between total interest payments and total operating lease obligations?
Facts: 162,913; 168,040
Derivation: 168,040 - 162,913 
Answer: 5127 thousand

Question: What is the interest rate of the term loan?
Facts: Our term loan bears interest at 16% per annum
Answer: Our term loan bears interest at 16% per annum

Question: What amendment was made to the convertible loan agreement in 2018?
Facts: waive the conversion features on our convertible loan
Answer: waive the conversion features on our convertible loan

Question: Why is CEC no longer qualified to be accounted under the equity method in 2019?
Facts: CEC finalized certain restructuring arrangements, which resulted in a dilution of our ownership interest in CEC and the loss of our representation on the company’s board of managers
Answer: CEC finalized certain restructuring arrangements, which resulted in a dilution of our ownership interest in CEC and the loss of our representation on the company’s board of managers

Question: How much was the increase in prepaid expenses from 2018 to 2019?
Facts: 137,927; 90,981
Derivation: 137,927-90,981 
Answer: 46946 thousand

Question: What is the difference between notes receivables from 2018 to 2019?
Facts: 23,873; 5,196
Derivation: 23,873 - 5,196 
Answer: 18677 thousand

Question: What is the percentage increase in total prepaid expenses and other current assets from 2018 to 2019?
Facts: 243,061; 276,455
Derivation: (276,455- 243,061)/243,061 
Answer: 13.74 percent

Question: How are changes in fair value of hedging instruments accounted for?
Facts: within “Accumulated other comprehensive loss”
Answer: within “Accumulated other comprehensive loss”

Question: What risks are hedged using the derivative instruments?
Facts: interest rate and foreign currency risks
Answer: interest rate and foreign currency risks

Question: What is the total derivate instruments for other liabilities?
Facts: $7,439
Answer: $7,439 thousand

Question: What is the difference in the total derivative instruments between other assets and other current liabilities?
Facts: 139; 2,582
Derivation: 139-2,582
Answer: -2443 thousand

Question: Under prepaid expenses and other current assets, what is the ratio of the total derivates designated as hedging instruments to those not designated as hedging instruments?
Facts: 226; 973
Derivation: 226/973
Answer: 0.23

Question: What is the difference in the foreign exchange forward contracts for hedging instruments between other assets and other liabilities?
Facts: 139; 230
Derivation: 139-230
Answer: -91 thousand

Question: What were the reasons for the revision of manufacturing equipment in 2019?
Facts: Such revision was primarily due to the validation of certain aspects of our Series 6 module technology, including the nature of the manufacturing process, the operating and maintenance cost profile of the manufacturing equipment, and the technology’s compatibility with our long-term module technology roadmap.
Answer: Such revision was primarily due to the validation of certain aspects of our Series 6 module technology, including the nature of the manufacturing process, the operating and maintenance cost profile of the manufacturing equipment, and the technology’s compatibility with our long-term module technology roadmap.

Question: How much will depreciation expense decrease as a result of the revision in useful life?
Facts: reduce depreciation by approximately $15.0 million per year
Answer: reduce depreciation by approximately $15.0 million per year

Question: What was the depreciation of property, plant and equipment in 2019? 
Facts: $176.4 million
Answer: $176.4 million

Question: What was the increase in machinery and equipment from 2018 to 2019?
Facts: 1,826,434; 2,436,997
Derivation: 2,436,997 - 1,826,434 
Answer: 610563 thousand

Question: What is the difference between land from 2018 to 2019?
Facts: 14,241; 14,382
Derivation: 14,241 - 14,382 
Answer: -141 thousand

Question: What is the percentage increase in net property, plant and equipment from 2018 to 2019?
Facts: 1,756,211; 2,181,149
Derivation: (2,181,149 - 1,756,211)/1,756,211 
Answer: 24.2 percent

Question: What amount of marketable securities were sold in 2019?
Facts: During the year ended December 31, 2019, we sold marketable securities for proceeds of $52.0 million and realized no gain or loss on such sales.
Answer: During the year ended December 31, 2019, we sold marketable securities for proceeds of $52.0 million and realized no gain or loss on such sales.

Question: What amount of marketable securities were sold in 2017?
Facts: $118.3 million
Answer: $118.3 million

Question: What is the proceed recognized for the sale of marketable securities in 2018?
Facts: realized gains of less than $0.1 million on such sales in each respective period
Answer: realized gains of less than $0.1 million on such sales in each respective period

Question: What percentage of the total cash, cash equivalents, and restricted cash is made up of restricted cash and investments?
Facts: 1,446,510; 80,072
Derivation: 80,072 / 1,446,510 
Answer: 5.54 percent

Question: What percentage of the total cash, cash equivalents, and restricted cash is made up of prepaid expenses and other current assets in 2019?
Facts: 1,446,510; 13,697
Derivation: 13,697 / 1,446,510 
Answer: 0.95 percent

Question: What is the percentage decrease in cash and cash equivalents from 2018 to 2019?
Facts: 1,352,741; 1,403,562
Derivation: (1,403,562 - 1,352,741) / 1,403,562 
Answer: 3.62 percent

Question: What are the components in selling, general and administrative expense?
Facts: Selling, general and administrative expense consists primarily of salaries and other personnel-related costs, professional fees, insurance costs, and other business development and selling expenses.
Answer: Selling, general and administrative expense consists primarily of salaries and other personnel-related costs, professional fees, insurance costs, and other business development and selling expenses.

Question: What are the reasons for higher selling, general and administrative expense in 2019 as compared to 2018?
Facts: Selling, general and administrative expense in 2019 increased compared to 2018 primarily due to higher employee compensation expense, lower accretion expense in 2018 associated with the reduction in our module collection and recycling liability described above, and higher professional fees.
Answer: Selling, general and administrative expense in 2019 increased compared to 2018 primarily due to higher employee compensation expense, lower accretion expense in 2018 associated with the reduction in our module collection and recycling liability described above, and higher professional fees.

Question: What is the percentage of net sales in 2019?
Facts: 6.7%
Answer: 6.7%

Question: What is the amount of net sales in 2019?
Facts: 205,471; 6.7
Derivation: 205,471 / 6.7% 
Answer: 3066731.34 thousand

Question: What is the net difference in selling, general and administrative expense between 2019 and 2017?
Facts: 202,699; 205,471
Derivation: 205,471 - 202,699 
Answer: 2772 thousand

Question: What is the difference in net sales amount in 2019 and 2018?
Facts: 176,857; 205,471; 6.7; 7.9
Derivation: (205,471 / 6.7%) - (176,857 / 7.9%) 
Answer: 828035.14 thousand