Table:
|  | Q1 | Q2 | Q3 | Q4 |
| --- | --- | --- | --- | --- |
|  | Days | Days | Days | Days |
| 2018 | 90 | 91 | 91 | 93 |
| 2019 | 89 | 91 | 91 | 94 |
| 2020 | 88 | 91 | 91 | 96 |
Paragraphs:
Under Article 35 of our Articles of Association, our financial year extends from January 1 to December 31, which is the period end of each fiscal year. In 2019, the first quarter ended on March 30, the second quarter ended on June 29, the third quarter ended on September 28 and the fourth quarter ended on December 31.
In 2020, the first quarter will end on March 28, the second quarter will end on June 27, the third quarter will end on September 26 and the fourth quarter will end on December 31.
Based on our fiscal calendar, the distribution of our revenues and expenses by quarter may be unbalanced due to a different number of days in the various quarters of the fiscal year and can also differ from equivalent prior years’ periods, as illustrated in the below table for the years 2018, 2019 and 2020.
Question:
What is the annual calendar of the financial cycle?
Answer: from January 1 to December 31